EX-10.10 2 ex10-10.htm

 

Exhibit 10.10

 

Royalty Option to Purchase Agreement

(Olinghouse Royalty; Washoe County, Nevada)

 

This Royalty Option to Purchase Agreement (“Agreement”) is dated effective December 17, 2021 (the “Effective Date”), by and among Target Minerals, Inc., a Nevada corporation (“Target” or “Optionor”), Nevada Canyon LLC, a Nevada limited liability company (“Nevada Canyon” or “Optionee”), and Nevada Canyon Gold Corp., a Nevada corporation (“Nevada Canyon Parent” or “NGLD”). Optionor, Optionee, and Nevada Canyon Parent sometimes referred to individually as a “Party” and collectively as the “Parties.”

 

Recitals

 

A. Optionor holds the rights to a production royalty (the “Olinghouse Royalty”) in an amount equal to one percent (1%) of the net smelter returns for all gold and other minerals of any type produced from the patented and unpatented mining claims more particularly described in Exhibits A-1 through A-7 attached to and by this reference incorporated in this Agreement (the “Olinghouse Properties”).
   
B. Optionor’s right to the Olinghouse Royalty granted pursuant to that certain Option to Purchase Agreement dated January 14, 2009 (together with all amendments thereto, the “Olinghouse Agreements”), as amended by the Amended Royalty Agreement (NSR) dated effective October 31, 2017, by and between Lake Mountain Mining, LLC, a Nevada limited liability company (“Lake Mountain Mining”), as optionee successor-in-interest to MSM Resource, L.L.C., a Nevada limited liability company, and Optionor, as optionor.
   
C. Optionor desires to grant to Optionee the exclusive right and option, exercisable at any time during the Option Period in Optionee’s sole discretion, to acquire all of Optionor’s right, title, and interest in and to the Olinghouse Royalty, under the terms and conditions of this Agreement.

 

Agreement

 

Now, therefore, in consideration of their mutual covenants and promises contained herein, and other good and valuable consideration, the receipt and sufficiency of which are acknowledged, the Parties agree as follows:

 

Article 1

Defined Terms

 

1.1 Definitions. In addition to other defined terms in this Agreement, the following terms shall have the meanings stated below when used in this Agreement:

 

(a) “Assignment” means the Assignment and Deed of Royalty (the form of which is attached to this Agreement as Exhibit C) which is to be executed and delivered by Optionor on Optionee’s exercise and closing of the Purchase Option in accordance with Article 3.

 

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(b) “Cash Consideration” has the meaning ascribed to that term in Section 2.4(a).

 

(c) “Closing” means when the conditions in Article 4 have been satisfied by the Parties.

 

(d) “Closing Date” has the meaning ascribed to that term in Section 3.2.

 

(e) “Encumbrance” means any encumbrance, lien, charge, pledge, mortgage, title retention agreement, security interest of any nature, prior claim, adverse claim, exception, reservation, restrictive covenant, agreement, easement, lease, license, right of occupation, option, right to acquire, right of use, right of first refusal, right of pre-emption, privilege or any matter capable of registration against title.

 

(f) “Effective Date” has the meaning ascribed that term in the Preamble.

 

(g) “Initial Term” has the meaning ascribed to term in Section 2.2.

 

(h) “Exchange” means any national securities exchange registered under the Securities Exchange Act of 1934.

 

(i) “Lake Mountain Mining” means Lake Mountain Mining, LLC, a Nevada limited liability company.

 

(j) “Memorandum” means the memorandum of this Agreement (the form of which is attached to this Agreement as Exhibit D) which is to be executed and delivered by the pursuant to Section 10.6.

 

(k) “Nevada Canyon” means Optionee.

 

(l) “Nevada Canyon 10-Day VWAP Calculation” means the price equal to the volume weighted average closing price of the Nevada Canyon Parent Shares on an Exchange for the ten (10) trading days immediately preceding the Option Exercise Date.

 

(m) “Nevada Canyon Parent” means Nevada Canyon Gold Corp., a Nevada corporation, and its successors and assigns.

 

(n) “Nevada Canyon Parent Shares” means common shares in the capital stock of Nevada Canyon Parent as presently constituted.

 

(o) “NGLD” means Nevada Canyon Parent.

 

(p) “Olinghouse Agreements” has the meaning ascribed to that term in Recital B.

 

(q) “Olinghouse Properties” has the meaning ascribed to that term in Recital A, and shall include any mining claims or other mineral properties intended to be made subject to the Olinghouse Royalty pursuant to the Olinghouse Agreements which may not otherwise be described in Exhibits A-1 through A-7.

 

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(r) “Olinghouse Royalty” has the meaning ascribed to that term in Recital A.

 

(s) “Olinghouse Royalty Deed” means the Royalty Deed (the form of which is attached as Exhibit B) in which Lake Mountain Mining, LLC, a Nevada limited liability company, grants to Optionor the Olinghouse Royalty in accordance with the terms of the Olinghouse Agreements.

 

(t) “Optionee” means Nevada Canyon LLC, a Nevada limited liability company, and its successors and assigns.

 

(u) “Optionee Deliverables” has the meaning ascribed to that term in Section 3.3(b).

 

(v) “Option Exercise Date” has the meaning ascribed to that term in Section 3.1.

 

(w) “Option Exercise Notice” has the meaning ascribed to that term in Section 3.1.

 

(x) “Optionor” means Target Minerals, Inc., a Nevada corporation, and its successors and assigns.

 

(y) “Optionor Deliverables” has the meaning ascribed to that term in Section 3.3(a).

 

(z) “Option Payment” has the meaning ascribed to that term in Section 2.3.

 

(aa) “Option Period” has the meaning ascribed to term in Section 2.2.

 

(bb) “Party” and Parties” has the meanings ascribed to those terms in the Preamble.

 

(cc) “Purchase Option” means the right and option granted by Optionor to Optionee to purchase the Olinghouse Royalty in accordance with Article 2.

 

(dd) “Purchase Price” has the meaning ascribed to that term in Section 2.4.

 

(ee) “Share Consideration” has the meaning ascribed to that term in Section 2.4(b).

 

(ff) “Target” means Optionor.

 

(gg) “Transaction” means the purchase and sale of the Olinghouse Royalty and all other transactions contemplated in this Agreement.

 

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Article 2

Grant of Option; Term; Payments; Obligations

 

2.1 Grant of Purchase Option. Optionor hereby grants and gives to Optionee the sole and exclusive right and option (the “Purchase Option”), exercisable at any time during the Option Period in Optionee’s sole discretion, to purchase and acquire all of Optionor’s right, title and interest in and to the Olinghouse Royalty, free and clear of all Encumbrances.

 

2.2 Option Period. Subject to Section 2.5, the term of this Agreement shall commence on the Effective Date and shall continue up to and including the later of either: (i) one (1) year from the Effective Date (the “Initial Term”); or (ii) sixty (60) days after the date on which Optionor delivers to Optionee a copy of the fully executed and recorded Olinghouse Royalty Deed in accordance with Section 2.5; whichever is to occur last (the “Option Period”).

 

2.3 Option Payment. In consideration for the granting of the Purchase Option, Optionee shall pay to Optionor or its designee a payment equal to Two Hundred Thousand Dollars (US$200,000) in cash by wire transfer within five (5) business days of the Effective Date (the “Option Payment”). Unless Optionee exercises the Purchase Option, the Option Payment shall constitute Optionee’s sole payment obligation for the duration of the entire Option Period.

 

2.4. Purchase Price. The total purchase price (the “Purchase Price”) of the Olinghouse Royalty shall be either (i) Two Million Dollars (US$2,000,000) in cash by wire transfer, or (ii) Two Million (2,000,000) in Nevada Canyon Parent Shares, the determination of which shall be as follows:

 

  (a) if the Nevada Canyon 10-Day VWAP Calculation is less than US$1.25 per share, the Purchase Price shall be paid in cash by wire transfer (the “Cash Consideration”); or
     
  (b) if the Nevada Canyon 10-Day VWAP Calculation is more than US$1.25 per share, the Purchase Price shall be paid in the form of Two Million (2,000,000) Nevada Canyon Parent Shares (the “Share Consideration”).

 

2.5 Optionor Obligations During Option Period. Optionor shall: (a) cause the Olinghouse Royalty Deed to be fully executed by the parties thereto; and (b) record the fully executed Olinghouse Royalty Deed with the Office of the Washoe County Recorder, Nevada. After recording, Optionor shall deliver to Optionee a county-stamped copy of the recorded Olinghouse Royalty Deed. Optionor acknowledges that the execution and recording of the Olinghouse Royalty Deed is a material and necessary obligation in order to effectuation the transactions contemplated in this Agreement. Accordingly, the Parties agree that if Optionor does not record and deliver to Optionee a county-stamped copy of the fully executed recorded Olinghouse Royalty Deed within the Initial Term, the term of this Agreement shall continue and automatically be extended such that it expires either sixty (60) days after the date on which Optionor delivers to Optionee a copy of the fully executed and recorded Olinghouse Royalty Deed in accordance with this Section 2.5.

 

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Article 3

Closing of Purchase Option

 

3.1 Notice of Exercise of Purchase Option. If Optionee elects to exercise the Purchase Option, Optionee shall deliver written notice to Optionor during the Option Period confirming Optionee’s exercise of the Purchase Option (the “Option Exercise Notice”). The Option Exercise Notice shall include (i) the Optionee’s calculation of the Nevada Canyon 10-Day VWAP, and (ii) a statement confirming whether the Purchase Price shall be paid in the form of Cash Consideration or Share Consideration, the choice of which shall be determined in accordance with Section 2.4. The date on which Optionee delivers to Optionor the Option Exercise Notice shall be the “Option Exercise Date.”

 

3.2 Closing Date. Subject to the terms of this Agreement, the Closing of the Purchase Option as contemplated in this Agreement shall take place within sixty (60) days after the Option Exercise Date, at such time and place as mutually agreeable to the Parties, or on such other date as mutually agreeable to the Parties. The date on which the Closing occurs is referred to as the “Closing Date.”

 

3.3 Closing Deliverables. On or before Closing, the Parties shall deliver the following:

 

(a)Optionor Deliverables. On or before Closing, Optionor shall deliver to Optionee the following (collectively, the “Optionor Deliverables”):

 

(i)a duly executed Assignment of Royalty Interest in the form attached to this Agreement as Exhibit C (the “Assignment”); and

 

(ii)such other documents, certificates and other instruments as would be usual in respect of the transaction contemplated by this Agreement, or otherwise in the mutual and reasonable opinion of counsel are reasonably necessary for the proper consummation of this transaction to validly complete the sale and transfer to the Optionee of all of the right, title and interest of the Optionor in and to the Olinghouse Royalty.

 

(b)Optionee Deliverables. On or before Closing, Optionee (and Nevada Canyon Parent, as applicable) shall deliver to Optionor the following (collectively, the “Optionee Deliverables”):

 

(i)a duly executed Assignment;

 

(ii)the Purchase Price in the form of either the Cash Consideration or the Share Consideration, as determined and described in the Option Exercise Notice; and

 

(iii)such other documents, certificates and other instruments as would be usual in respect of the transaction contemplated by this Agreement, or otherwise in the mutual and reasonable opinion of counsel are reasonably necessary for the proper consummation of this transaction to validly complete the sale and transfer to the Optionee of all of the right, title and interest of the Optionor in and to the Olinghouse Royalty.

 

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3.4 Closing Costs. Optionee shall pay the fees associated with the Closing of the Option, including recording fees, real property transfer taxes, document preparation fees, and similar costs not specifically otherwise allocated under the terms of this Agreement.

 

Article 4

Conditions of Closing

 

4.1 Closing Conditions in Favor of Optionor. Optionor shall be obliged to complete the Transaction only if each of the following conditions precedent has been satisfied in full:

 

(a)all of the representations and warranties of Optionee made in this Agreement are true and correct in all material respects as of the Closing Date with the same effect as if made on and as of the Closing Date (except as those representations and warranties may be affected by events or transactions expressly permitted by or resulting from the entering of this Agreement);

 

(b)Optionee has complied with or performed in all material respects all of the obligations, covenants and agreements under this Agreement to be complied with or performed by Optionee on or before the Closing Date, to the satisfaction of the Optionor, acting reasonably; and

 

(c)Optionee has caused to be delivered to Optionor the Optionee Deliverables in accordance with Section 3.3(b).

 

Each of the conditions set out in Section 4.1 is for the exclusive benefit of Optionor and the Optionor may waive compliance with any such condition in whole or in part by notice in writing to the Optionee, except that no such waiver operates as a waiver of any other condition.

 

4.2 Closing Conditions in Favor of Optionee. Optionee shall be obliged to complete the Transaction only if each of the following conditions precedent has been satisfied in full:

 

(a)all of the representations and warranties of Optionor made in this Agreement are true and correct in all material respects as of the Closing Date with the same effect as if made on and as of the Closing Date (except as those representations and warranties may be affected by events or transactions expressly permitted by or resulting from the entering of this Agreement);

 

(b)Optionor has complied with or performed in all material respects all of the obligations, covenants and agreements under this Agreement to be complied with or performed by Optionor on or before the Closing Date, to the satisfaction of the Optionee, acting reasonably;

 

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(c)Optionor has caused to be delivered to Optionee the Optionor Deliverables in accordance with Section 3.3(a); and

 

(d)Optionor has caused the recording of the fully executed Olinghouse Royalty Deed in the Office of the Washoe County Recorder, Nevada, in accordance with Section 2.5.

 

Each of the conditions set out in Section 4.2 is for the exclusive benefit of Optionee and Optionee may waive compliance with any such condition in whole or in part by notice in writing to the Optionor, except that no such waiver operates as a waiver of any other condition.

 

Article 5

Representations, Warranties, and Covenants

 

5.1 Optionor’s Representations, Warranties, and Covenants. Optionor represents, warrants, and covenants to Optionee that:

 

(a)Optionor is a corporation duly and validly subsisting under the laws of the State of Nevada and that all necessary approvals of its directors, officers and shareholders, and any further approvals that may be required in connection therewith, have been obtained or shall have been obtained on or prior to the Effective Date to authorize the entering into and delivery of this Agreement and the taking of all actions required pursuant hereto by the Optionor;

 

(b)Optionor is, and during the period of the Option shall be, the legal and beneficial holder of a one hundred percent (100%) interest in the Olinghouse Royalty, and has all the rights, free and clear of any and all defects, charges, liens and encumbrances;

 

(c)no other person has any agreement or other right to acquire any interest in the Olinghouse Royalty nor are there any liens against the Olinghouse Royalty;

 

(d)to the knowledge of Optionor, no consent or approval of any third party or Governmental Authority is required for the execution, delivery or performance by Optionor of this Agreement;

 

(e)Optionor acknowledges that it has had the opportunity to obtain independent legal advice with respect to entering into this Agreement, and that (x) Optionor has obtained such independent legal advice, and (y) Optionor is entering into this Agreement voluntarily and with full knowledge of the contents hereof;

 

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(f)Optionor shall, during the Option Period, cooperate with Optionee, at no cost to Optionor or its affiliates, to keep the Olinghouse Royalty in good standing and full force and effect;

 

(i)During the Option Period, Optionor shall not: (i) create, grant or issue any encumbrance in respect of the Olinghouse Royalty or otherwise sell or dispose of the whole or any part or interest in the Olinghouse Royalty; or (ii) make any material change to, the whole or a material part of Olinghouse Royalty.

 

5.2 Optionee’s Representations, Warranties, and Covenants. Optionee represents, warrants and covenants to Optionor that Optionee is a limited liability company, duly and validly subsisting under the laws of Nevada and that all necessary approvals, if any, have been obtained or shall have been obtained on or prior to the Effective Date to authorize the entering into and delivery of this Agreement and the taking of all actions required pursuant hereto by Optionee.

 

5.3 Mutual Representations, Warranties, and Covenants. Each of the Parties covenants, warrants, and represents for itself as follows:

 

(a)that it has complied with all applicable laws and regulations of any governmental body, federal, state or local, regarding the terms of and performance of its obligations under this Agreement;

 

(b)that there are no lawsuits or proceedings pending or threatened which affect its ability to perform the terms of this Agreement;

 

(c)that except as otherwise provided in this Agreement, it shall pay all costs and expenses incurred or to be incurred by it in negotiating and preparing this Agreement and in closing and carrying out the transactions contemplated by this Agreement;

 

(d)that it has had no dealings with any agent, broker or finder in connection with this Agreement, and shall indemnify, defend and hold the other Party harmless from and against any claims that may be asserted through such Party that any agent’s broker’s or finder’s fee is due in connection with this Agreement; and

 

(e)that it is not on the Specially Designated National & Blocked Persons List of the Office of Foreign Assets Control of the United States Treasury Department and is not otherwise blocked or banned by any foreign asset office rule or any other law or regulation, including the USA Patriot Act or Executive Order 13224.

 

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Article 6

Nevada Canyon Parent Shares

 

6.1 Optionor Acknowledgements Concerning Nevada Canyon Parent Shares. Optionor represents and warrants to Nevada Canyon Parent, and acknowledges that the Nevada Canyon Parent is relying on such representations and warranties in entering this Agreement and completing the purchase and sale as contemplated in this Agreement, that:

 

(a)Optionor has such knowledge, skill and experience in business, financial and investment matters so that it is capable of evaluating the merits and risks with respect to an investment in the Nevada Canyon Parent Shares. With the assistance of Optionor’s own professional advisors, to the extent that it has deemed appropriate, Optionor has made its own legal, tax, accounting and financial evaluation of the merits and risks of an investment in the Nevada Canyon Parent Shares and has made its own independent decision that the investment in the Nevada Canyon Parent Shares is suitable and appropriate for it. Optionor has considered the suitability of the Nevada Canyon Parent Shares as an investment in light of its circumstances and financial condition and is able to bear the risks associated with an investment in the Nevada Canyon Parent Shares.

 

(b)Optionor is familiar with the business and financial condition and operations of Nevada Canyon Parent and has had the opportunity to conduct its own investigation of Nevada Canyon Parent and the Nevada Canyon Parent Shares. Optionor has had access to the filings of Nevada Canyon Parent made with the Securities and Exchange Commission and such other information concerning Nevada Canyon Parent and the Nevada Canyon Parent Shares as it deems necessary to enable it to make an informed investment decision. Optionor has been offered the opportunity to ask such questions of Nevada Canyon Parent and its representatives and received answers thereto, as it deems necessary to enable it to make an informed investment decision.

 

(c)Optionor is an “accredited investor” as defined in Rule 501(a) under Regulation D of the Securities Act of 1933 (the “Securities Act”).

 

(d)Optionor is acquiring the Nevada Canyon Parent Shares solely for its own beneficial account, for investment purposes, and not with a view to, or for resale in connection with, any distribution of the Nevada Canyon Parent Shares. Optionor understands that the offer and sale of the Nevada Canyon Parent Shares have not been registered under the Securities Act or any state securities laws and are being issued without registration under the Securities Act pursuant to Section 4(a)(2) of the Securities Act, which exemption depends in part upon the investment intent of Optionor and the accuracy of the other representations and warranties made by it in this Agreement. Optionor understands that Nevada Canyon Parent is relying upon the representations, warranties and agreements contained in this Agreement for the purpose of determining whether the issuance of the Nevada Canyon Parent Shares to Optionor meets the requirements for such exemption.

 

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(e)Optionor acknowledges and understands that Nevada Canyon Parent may be in possession of material non-public information not known to Optionor that may impact the value of the Nevada Canyon Parent Shares (“Information”) that Nevada Canyon Parent has not disclosed to Optionor. Optionor acknowledges that it has not relied upon the non-disclosure of any such Information for purposes of making their decision to invest in the Nevada Canyon Parent Shares. Optionor understands, based on its experience, the disadvantage to which Optionor is subject due to the disparity of information between Nevada Canyon Parent, on the one hand, and Optionor, on the other hand.

 

(f)Optionor understands that the Nevada Canyon Parent Shares, whether certificated or in book-entry form, will bear a restrictive legend in substantially the following form:

 

The securities represented hereby have not been registered with the Securities and Exchange Commission or the securities commission of any state in reliance upon an exemption from registration under the Securities Act of 1933, as amended, and, accordingly, may not be transferred unless (i) such securities have been registered for sale pursuant to the Securities Act of 1933, as amended, (ii) such securities may be sold pursuant to Rule 144, (iii) the Company has received an opinion of counsel reasonably satisfactory to it that such transfer may lawfully be made without registration under the Securities Act of 1933, as amended, or (iv) the securities are transferred without consideration to an affiliate of such holder or a custodial nominee (which for the avoidance of doubt shall require neither consent nor the delivery of an opinion).

 

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Article 7

Termination; Amendment; Waiver

 

7.1 Termination by Optionor. Any failure by Optionee to perform any of its covenants, liabilities, obligations or responsibilities under this Agreement shall be a default. Optionor may give Optionee written notice of a default. If a payment default is not remedied within twenty (20) days after receipt of the notice, or any other default is not remedied within forty (40) days after receipt of the notice, provided the default can reasonably be cured within that time, or, if not, if Optionee has not within that time commenced action to cure the same or does not after such commencement diligently prosecute such action to completion, Optionor may terminate this Agreement by delivering notice to Optionee of Optionor’s termination of this Agreement, provided that if Optionee contests Optionor’s notice of default or Optionor’s assertion that Optionee has not timely cured or commenced action to cure the alleged default, Optionor may not terminate this Agreement unless and until issues of the alleged default and failure to cure the alleged default have been determined by a court of competent jurisdiction. In such case, Optionee shall have such time as provided by the decree or order of the court having jurisdiction of the dispute concerning the alleged default or failure to cure the alleged default. On termination of this Agreement based on Optionee’ default, within ten (10) days Optionee shall execute and deliver to Optionor a release and termination of this Agreement in form acceptable for recording.

 

7.2 Termination by Optionee. Optionee may at any time terminate this Agreement by giving ten (10) days’ written notice to Optionor. If Optionee terminates this Agreement, Optionee shall perform all obligations and pay all payments which accrue or become due before the termination date. On Optionee’ termination of this Agreement, within ten (10) days Optionee shall execute and deliver to Optionor a release and termination of this Agreement in form acceptable for recording.

 

7.3 Amendment. This Agreement may not be amended except by an instrument signed by all the Parties.

 

7.4 Waiver. Any failure of a Party to comply with any provision hereof may be waived by the Party entitled to the benefit thereof only by a written instrument signed by the party granting such waiver, but such waiver or failure to insist upon strict compliance with such provision shall not operate as a waiver of or estoppel with respect to, any subsequent or other failure.

 

Article 8

Assignment

 

8.1 Optionor’s Assignment. Optionor shall have the right to assign or otherwise transfer all or any part of its interest in this Agreement or the Olinghouse Royalty. No change in ownership of Optionor’s interest in the Olinghouse Royalty shall affect Optionee’s obligations under this Agreement unless and until Optionor delivers and Optionee receives copies of the documents which demonstrate the change in ownership of Optionor’s interest.

 

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8.2 Optionee’s Assignment. Optionee shall not assign or transfer to a third party (each a “Transfer”) all or any part of its interest in this Agreement or the Olinghouse Royalty, without, in each case, Optionor’s prior written consent, which shall not be delayed or withheld unreasonably. Optionor shall respond to Optionee’s request for consent within ten (10) days following Optionor’s receipt of Optionee’s request. If Optionor does not timely inform Optionee that Optionor does not consent to the proposed Transfer, Optionor shall be deemed to have approved the Transfer. Each transferee of any interest in this Agreement shall execute and deliver an instrument by which the transferee agrees to assume and perform the obligations of the assignor under this Agreement.

 

Article 9

Notices

 

9.1 Notices. No notice, request, demand, instruction or other document to be given to any Party shall be effective for any purpose unless delivered to the person at the appropriate address stated below (in which event such notice shall be deemed effective only upon such delivery) delivered by air courier next-day delivery (e.g., Federal Express), or delivered by U.S. mail, sent by registered or certified mail, return receipt requested, or by electronic mail, as follows:

 

If to Optionor:   Target Minerals, Inc.
    15 Calcite Drive
    Carson City, Nevada 89706
    Attn: Mitch Fanning
    E-mail: Mitch_target@msn.com

 

If to Optionee:   Nevada Canyon LLC
    316 California Ave, Suite 543
    Reno, Nevada 89509
    Attn: Jeff Cocks
    E-mail: jeff@westisleventures.com

 

If to Nevada Canyon Parent:   Nevada Canyon Gold Corp.
    316 California Ave, Suite 543
    Reno, Nevada 89509
    Attn: Jeff Cocks
    E-mail: jeff@westisleventures.com

 

Notices delivered by air courier shall be deemed to have been given the next business day after deposit with the courier and notices mailed shall be deemed to have been given on the third day following deposit of same in any United States Post Office in the state to which the notice is addressed or on the fourth day following deposit in any such post office other than in the state to which the notice is addressed, postage prepaid, addressed as stated above. Notices sent by electronic mail during regular business hours shall be deemed to have been given the same business day and, otherwise, on the subsequent business day. The addresses and addressees, for the purpose of this Section, may be changed by giving written notice of such change in the manner herein provided for giving notice. Unless and until such written notice of change is received, the last address and addressee stated by written notice, or provided herein if no such written notice of change has been received, shall be deemed to continue in effect for all purposes hereunder.

 

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Article 10

Miscellaneous Provisions

 

10.1 Binding Effect of Obligations. This Agreement shall be binding upon and inure to the benefit of the respective Parties and their successors or assigns.

 

10.2 Entire Agreement. The Parties agree that the entire agreement between them is written in this Agreement. There are no terms or conditions, express or implied, other than expressly stated in this Agreement. This Agreement may be amended or modified only by a written instrument signed by the Parties with the same formality as this Agreement.

 

10.3 Governing Law and Forum Selection. This Agreement shall be construed and enforced in accordance with the laws of the State of Nevada. The forum for any action regarding the construction or enforcement of this Agreement shall be the Second Judicial District Court, Washoe County, Reno, Nevada. The prevailing Party in any such action shall be entitled to an award of its costs and attorney’s fees incurred in such action.

 

10.4 Confidentiality. The data and information, including the terms of this Agreement, coming into the Parties’ possession by virtue of this Agreement shall be deemed confidential and shall not be disclosed to outside third parties except as may be required to publicly record or protect title to the Property or to publicly announce and disclose information under Governmental Regulations or under the rules and regulations of any stock exchange on which the stock of a Party, or the parent or affiliates of a Party, is listed. If a Party negotiates for a transfer of all or any portion of such Party’s interest in the Property or under this Agreement or negotiates to procure financing or loans relating to the Property, in order to facilitate any such negotiations such Party shall have the right to furnish information to third parties, provided that each third Party to whom the information is disclosed agrees to maintain its confidentiality in the manner provided in this Section.

 

10.5 Memorandum. The Parties shall execute and deliver a memorandum of this Agreement. The execution of the Memorandum shall not limit, increase or in any manner affect any of the terms of this Agreement or any rights, interests or obligations of the Parties.

 

10.6 Computation of Time. Any reference herein to time periods of less than six (6) days shall exclude Saturdays, Sundays and legal holidays in the computation thereof. Any time period provided for in this Agreement which ends on a Saturday, Sunday or legal holiday shall extend to 5:00 p.m. on the next full business day.

 

10.7 Further Assurances. The Parties each agree to do such other and further acts and things, and to execute and deliver such instruments and documents (not creating any obligations additional to those otherwise imposed by this Contract) as either may reasonably request from time to time, whether at or after the Closing, in furtherance of the purposes of this Agreement.

 

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10.8 Waiver of Jury Trial. EACH PARTY HEREBY KNOWINGLY, VOLUNTARILY, UNCONDITIONALLY AND INTENTIONALLY FOREVER WAIVES THE RIGHT TO A TRIAL BY JURY IN RESPECT OF ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER ARISING AT LAW, AT EQUITY, IN TORT OR CONTRACT) BROUGHT BY ANY PARTY AGAINST SUCH PARTY ON ANY MATTER ARISING OUT OF OR IN ANY WAY CONNECTED WITH THIS AGREEMENT. THE PROVISIONS OF THIS SECTION 10.8 SHALL SURVIVE THE TERMINATION HEREOF.

 

10.9 Counterparts. This Agreement may be executed in one or more counterparts, and by the different Party in separate counterparts, each of which when executed shall be deemed to be an original but all of which when taken together shall constitute one and the same agreement. Such counterparts may be delivered by facsimile or electronic transmission and the receiving Party is entitled to rely on the same to the same extent as if it had been an executed original.

 

10.10 Severability. If any part, term or provision of this Agreement is held by a court of competent jurisdiction to be illegal or in conflict with any governmental regulations, the validity of the remaining portions or provisions shall not be affected, and the rights and obligations of the Parties shall be construed and enforced as if the Agreement did not contain the particular part, term or provision held to be invalid.

 

[Signature page follows.]

 

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The Parties have executed this Agreement as of the Effective Date.

 

  Optionor:
   
  TARGET MINERALS, INC., a Nevada corporation
     
  By: /s/ Mitch Fanning
  Name: Mitch W. Fanning
  Title: President
     
  Optionee:
     
  NEVADA CANYON LLC, a Nevada limited liability company
     
  By its Managing Member:
   
  NEVADA CANYON GOLD CORP., a Nevada corporation
     
  By: /s/ Jeffrey Cocks
  Name: Jeffrey A. Cocks
  Title: President
     
  Nevada Canyon Parent:
   
  NEVADA CANYON GOLD CORP., a Nevada corporation
     
  By: /s/ Jeffrey Cocks
  Name: Jeffrey A. Cocks
  Title: President

 

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Exhibit A-1

LMM Patented Claims

 

The Olinghouse Properties include the following four (4) patented mining claims situated in Sections 20 and 29, T. 21 N., R. 23 E., MDM, in Washoe County, Nevada:

 

Claim Name   Mineral Survey No.   Patent No.   Assessor’s Parcel No.
No 2 Mine Lode   2748   46333   079-150-16
Standard Lode   4325   649108   079-150-38
Alice   2591   31379   079-150-41
Mattie B.   2591   31379   079-150-42

 

Total of four (4) patented mining claims.

 

[End of Exhibit A-1]

 

 A-1 

 

 

Exhibit A-2

LMM Unpatented Claims

 

The Olinghouse Properties include the following two hundred and seventy-nine (279) unpatented lode and placer claims situated in Sections 11 and 14, T. 21 N., R. 22 E., and Sections 2, 3, 9, 10, 11, 14 through 23, and 27 through 32, T. 21 N., R. 23 E., MDM, in Washoe County, Nevada:

 

            BLM
#   Claim Name   Location Date   Legacy NMC No.   Serial No.
1   SUNBEAM   8/29/1964   NMC10515   NV101548899
2   CAROLINE   8/29/1964   NMC10845   NV101755458
3   KEYSTONE   5/12/1951   NMC43815   NV101758291
4   INSPIRATION   10/1/1950   NMC43816   NV101401279
5   MARGARET   7/1/1923   NMC43818   NV101609468
6   KEYSTONE EXT   1/7/1938   NMC43819   NV101549807
7   GOLD FRAC   7/19/1964   NMC81225   NV101457511
8   SUNBEAM EXTENSION   2/11/1980   NMC143733   NV101344241
9   KAREN   10/4/1980   NMC167606   NV101606750
10   GOLD HILL #1   5/15/1981   NMC200993   NV101546321
11   GOLD HILL #2   5/22/1981   NMC200994   NV101454435
12   JENI   5/11/1981   NMC200995   NV101454603
13   GOLD QUEEN # 1   6/26/1981   NMC208547   NV101452396
14   GOLD QUEEN # 2   7/15/1981   NMC208548   NV101496126
15   FRANKFREE   8/27/1981   NMC216380   NV101525287
16   GOLD QUEEN # 4   1/14/1983   NMC260238   NV101493561
17   GOLD QUEEN #5   4/6/1983   NMC264882   NV101603554
18   TERFREE WEST   5/3/1983   NMC267486   NV101524657
19   TERFREE EAST   5/3/1983   NMC267487   NV101605705
20   SMUGGLER   6/12/1983   NMC273143   NV101752995
21   NUMBER #4   6/12/1983   NMC273144   NV101303672
22   EL SOBRANTE   3/15/1985   NMC336647   NV101479069
23   GOLDEN EAGLE   3/15/1985   NMC336648   NV101459149
24   MOUNTAIN VIEW   3/15/1985   NMC336649   NV101545809
25   GREEN GOLD #1   6/6/1985   NMC341849   NV101452416
26   GREEN GOLD #3   6/6/1985   NMC341851   NV101452923
27   GREEN GOLD #4   6/18/1985   NMC341852   NV101601978
28   GOLD HILL #3   6/18/1985   NMC341919   NV101730546
29   GREEN GOLD #5   6/19/1985   NMC341920   NV101600462
30   GREEN GOLD #6   6/19/1985   NMC341921   NV101344209
31   MORNING STAR   5/11/1985   NMC345714   NV101401525
32   MORNING STAR EXTEN   5/11/1985   NMC345715   NV101758339
33   WONDAR #1   6/1/1986   NMC369042   NV101303033
34   EVA   4/10/1987   NMC403584   NV101304735

 

 A-2 

 

 

            BLM
#   Claim Name   Location Date   Legacy NMC No.   Serial No.
35   LEE’S GGH   12/3/1987   NMC451341   NV101345754
36   ANTIQUE GOLD MINING CLAIM   5/23/1988   NMC479610   NV101301623
37   OLY GOLD   8/21/1993   NMC680500   NV101347047
38   JEN #2   9/21/1993   NMC688681   NV101346963
39   JEN #3   9/21/1993   NMC688682   NV101400762
40   JEN #4   9/22/1993   NMC688683   NV101453754
41   JEN #5   9/22/1993   NMC688684   NV101405342
42   JEN #6   9/28/1993   NMC688685   NV101458732
43   JEN #7   9/28/1993   NMC688686   NV101406362
44   JEN #8   9/28/1993   NMC688687   NV101731884
45   JEN #9   9/28/1993   NMC688688   NV101401763
46   JEN #10   9/28/1993   NMC688689   NV101609560
47   JEN #11   9/28/1993   NMC688690   NV101349026
48   JEN #12   9/28/1993   NMC688691   NV101603376
49   JEN #13   9/28/1993   NMC688692   NV101347283
50   JEN #14   9/28/1993   NMC688693   NV101605706
51   JEN #15   9/19/1993   NMC688694   NV101525286
52   JEN #16   11/22/1993   NMC688695   NV101602333
53   OLI 4   9/28/1994   NMC708663   NV101600901
54   OLI 6   9/28/1994   NMC708665   NV101547262
55   OLI 8   9/28/1994   NMC708667   NV101459390
56   OLI 10   9/28/1994   NMC708669   NV101608209
57   OLI 56   9/29/1994   NMC708711   NV101754108
58   OLI 67   9/10/1994   NMC708721   NV101453325
59   OLI 68   9/10/1994   NMC708722   NV101523812
60   OLI 69   9/10/1994   NMC708723   NV101453907
61   OLI 103   9/22/1994   NMC708757   NV101480355
62   OLI 106   9/20/1994   NMC708760   NV101495963
63   OLI 128   9/29/1994   NMC708782   NV101526281
64   OLI 129   9/30/1994   NMC708783   NV101456440
65   OLI 130   9/17/1994   NMC708784   NV101608875
66   OLI 131   9/20/1994   NMC708785   NV101455680
67   OLI 133   9/21/1994   NMC708786   NV101609576
68   OLI 134   9/21/1994   NMC708787   NV101547203
69   OLI 135   9/21/1994   NMC708788   NV101492377
70   OLI 136   9/25/1994   NMC708789   NV101758107
71   OLI 137   9/27/1994   NMC708790   NV101490605
72   OLI 138   9/1/1995   NMC724838   NV101609670
73   OLI #158   3/5/1997   NMC771870   NV101731176
74   OLI #159   3/5/1997   NMC771871   NV101452119
75   OLI #163   4/21/1998   NMC791172   NV101480086

 

 A-3 

 

 

            BLM
#   Claim Name   Location Date   Legacy NMC No.   Serial No.
76   OLI #164   4/21/1998   NMC791173   NV101730605
77   OLI #165   4/21/1998   NMC791174   NV101524448
78   OLI #166   4/21/1998   NMC791175   NV101456300
79   OLI #167   4/21/1998   NMC791176   NV101525082
80   OLI #171   2/18/1999   NMC802091   NV101645620
81   OLI #172   2/18/1999   NMC802092   NV101646801
82   NEXT 1   10/1/2009   NMC1015282   NV101471467
83   NEXT 2   10/1/2009   NMC1015283   NV101471468
84   NEXT 3   10/1/2009   NMC1015284   NV101471469
85   NEXT 4   10/1/2009   NMC1015285   NV101471470
86   NEXT 5   9/21/2009   NMC1015286   NV101471471
87   NEXT 6   9/21/2009   NMC1015287   NV101471472
88   NEXT 7   9/21/2009   NMC1015288   NV101471473
89   NEXT 8   9/21/2009   NMC1015289   NV101471474
90   NEXT 9   9/21/2009   NMC1015290   NV101472454
91   NEXT 10   9/21/2009   NMC1015291   NV101472455
92   NEXT 11   9/21/2009   NMC1015292   NV101472456
93   NEXT 12   9/21/2009   NMC1015293   NV101472457
94   NEXT 13   9/21/2009   NMC1015294   NV101472458
95   NEXT 14   9/21/2009   NMC1015295   NV101472459
96   NEXT 15   9/21/2009   NMC1015296   NV101472460
97   NEXT 16   9/21/2009   NMC1015297   NV101472461
98   NEXT 17   9/21/2009   NMC1015298   NV101472462
99   NEXT 18   9/21/2009   NMC1015299   NV101472463
100   NEXT 19   9/21/2009   NMC1015300   NV101472464
101   NEXT 20   9/21/2009   NMC1015301   NV101472465
102   NEXT 21   10/6/2009   NMC1015302   NV101472466
103   NEXT 22   10/6/2009   NMC1015303   NV101472467
104   NEXT 23   10/6/2009   NMC1015304   NV101472468
105   NEXT 24   10/6/2009   NMC1015305   NV101472469
106   NEXT 25   10/6/2009   NMC1015306   NV101472470
107   NEXT 26   10/6/2009   NMC1015307   NV101472471
108   NEXT 27   10/2/2009   NMC1015308   NV101472472
109   NEXT 28   10/2/2009   NMC1015309   NV101472473
110   NEXT 29   10/2/2009   NMC1015310   NV101472474
111   NEXT 30   10/2/2009   NMC1015311   NV101473663
112   NEXT 31   10/2/2009   NMC1015312   NV101473664
113   NEXT 32   10/2/2009   NMC1015313   NV101473665
114   NEXT 33   10/2/2009   NMC1015314   NV101473666
115   NEXT 34   10/2/2009   NMC1015315   NV101473667
116   NEXT 35   10/2/2009   NMC1015316   NV101473668

 

 A-4 

 

 

            BLM
#   Claim Name   Location Date   Legacy NMC No.   Serial No.
117   NEXT 36   10/2/2009   NMC1015317   NV101473669
118   NEXT 37   10/2/2009   NMC1015318   NV101473670
119   NEXT 38   10/1/2009   NMC1015319   NV101473671
120   NEXT 39   10/2/2009   NMC1015320   NV101473672
121   NEXT 40   10/1/2009   NMC1015321   NV101473673
122   NEXT 41   10/2/2009   NMC1015322   NV101473674
123   NEXT 42   10/1/2009   NMC1015323   NV101473675
124   NEXT 43   10/5/2009   NMC1015324   NV101473676
125   NEXT 44   9/21/2009   NMC1015325   NV101473677
126   NEXT 45   9/21/2009   NMC1015326   NV101473678
127   NEXT 46   9/21/2009   NMC1015327   NV101473679
128   NEXT 47   10/5/2009   NMC1015328   NV101473680
129   NEXT 48   10/5/2009   NMC1015329   NV101473681
130   NEXT 49   10/5/2009   NMC1015330   NV101473682
131   NEXT 50   10/5/2009   NMC1015331   NV101473683
132   NEXT 51   10/5/2009   NMC1015332   NV101474664
133   NEXT 52   10/5/2009   NMC1015333   NV101474665
134   NEXT 53   10/5/2009   NMC1015334   NV101474666
135   NEXT 54   10/5/2009   NMC1015335   NV101474667
136   NEXT 55   9/18/2009   NMC1015336   NV101474668
137   NEXT 56   9/18/2009   NMC1015337   NV101474669
138   NEXT 57   9/18/2009   NMC1015338   NV101474670
139   NEXT 58   9/18/2009   NMC1015339   NV101474671
140   NEXT 59   9/18/2009   NMC1015340   NV101474672
141   NEXT 60   10/2/2009   NMC1015341   NV101474673
142   NEXT 61   9/18/2009   NMC1015342   NV101474674
143   NEXT 62   10/2/2009   NMC1015343   NV101474675
144   NEXT 63   9/18/2009   NMC1015344   NV101474676
145   NEXT 64   10/2/2009   NMC1015345   NV101474677
146   NEXT 65   9/18/2009   NMC1015346   NV101474678
147   NEXT 66   9/18/2009   NMC1015347   NV101474679
148   NEXT 67   9/18/2009   NMC1015348   NV101474680
149   NEXT 68   9/18/2009   NMC1015349   NV101474681
150   NEXT 69   9/18/2009   NMC1015350   NV101474682
151   NEXT 70   9/18/2009   NMC1015351   NV101474683
152   NEXT 71   9/18/2009   NMC1015352   NV101474684
153   NEXT 72   9/18/2009   NMC1015353   NV101475625
154   NEXT 73   9/18/2009   NMC1015354   NV101475626
155   NEXT 74   9/18/2009   NMC1015355   NV101475627
156   NEXT 75   9/18/2009   NMC1015356   NV101475628
157   NEXT 76   9/18/2009   NMC1015357   NV101475629

 

 A-5 

 

 

            BLM
#   Claim Name   Location Date   Legacy NMC No.   Serial No.
158   NEXT 77   9/18/2009   NMC1015358   NV101475630
159   NEXT 78   9/18/2009   NMC1015359   NV101475631
160   NEXT 79   9/18/2009   NMC1015360   NV101475632
161   NEXT 80   9/18/2009   NMC1015361   NV101475633
162   NEXT 81   9/18/2009   NMC1015362   NV101475634
163   NEXT 82   9/18/2009   NMC1015363   NV101475635
164   NEXT 83   9/18/2009   NMC1015364   NV101475636
165   NEXT 84   9/18/2009   NMC1015365   NV101475637
166   NEXT 85   9/18/2009   NMC1015366   NV101475638
167   NEXT 86   9/18/2009   NMC1015367   NV101475639
168   NEXT 87   9/18/2009   NMC1015368   NV101475640
169   NEXT 88   9/18/2009   NMC1015369   NV101475641
170   NEXT 89   9/18/2009   NMC1015370   NV101475642
171   NEXT 90   9/18/2009   NMC1015371   NV101475643
172   NEXT 91   9/17/2009   NMC1015372   NV101475644
173   NEXT 92   9/17/2009   NMC1015373   NV101475645
174   NEXT 93   9/17/2009   NMC1015374   NV101476464
175   NEXT 94   9/17/2009   NMC1015375   NV101476465
176   NEXT 95   9/17/2009   NMC1015376   NV101476466
177   NEXT 96   9/17/2009   NMC1015377   NV101476467
178   NEXT 97   9/17/2009   NMC1015378   NV101476468
179   NEXT 98   9/17/2009   NMC1015379   NV101476469
180   NEXT 100   9/17/2009   NMC1015380   NV101476470
181   NEXT 101   11/24/2009   NMC1015381   NV101476471
182   NEXT 103   9/17/2009   NMC1015382   NV101476472
183   NEXT 104   9/17/2009   NMC1015383   NV101476473
184   NEXT 105   9/16/2009   NMC1015384   NV101476474
185   NEXT 106   9/16/2009   NMC1015385   NV101476475
186   NEXT 107   9/16/2009   NMC1015386   NV101476476
187   NEXT 108   9/16/2009   NMC1015387   NV101476477
188   NEXT 109   9/16/2009   NMC1015388   NV101476478
189   NEXT 110   9/16/2009   NMC1015389   NV101476479
190   NEXT 111   9/16/2009   NMC1015390   NV101476480
191   NEXT 112   9/16/2009   NMC1015391   NV101476481
192   NEXT 113   9/16/2009   NMC1015392   NV101476482
193   NEXT 114   9/16/2009   NMC1015393   NV101476483
194   NEXT 115   9/16/2009   NMC1015394   NV101476484
195   NEXT 116   9/16/2009   NMC1015395   NV101409851
196   NEXT 117   9/17/2009   NMC1015396   NV101409852
197   NEXT 118   9/17/2009   NMC1015397   NV101409853
198   NEXT 119   9/17/2009   NMC1015398   NV101409854

 

 A-6 

 

 

            BLM
#   Claim Name   Location Date   Legacy NMC No.   Serial No.
199   NEXT 120   9/17/2009   NMC1015399   NV101409855
200   NEXT 121   9/17/2009   NMC1015400   NV101409856
201   NEXT 122   9/17/2009   NMC1015401   NV101409857
202   NEXT 123   9/16/2009   NMC1015402   NV101409858
203   NEXT 124   9/16/2009   NMC1015403   NV101409859
204   NEXT 125   9/16/2009   NMC1015404   NV101409860
205   NEXT 126   9/16/2009   NMC1015405   NV101409861
206   NEXT 127   9/16/2009   NMC1015406   NV101409862
207   NEXT 128   9/16/2009   NMC1015407   NV101409863
208   NEXT 129   9/16/2009   NMC1015408   NV101409864
209   NEXT 130   9/16/2009   NMC1015409   NV101409865
210   NEXT 131   9/16/2009   NMC1015410   NV101409866
211   NEXT 132   9/16/2009   NMC1015411   NV101409867
212   NEXT 133   9/16/2009   NMC1015412   NV101409868
213   NEXT 134   9/16/2009   NMC1015413   NV101409869
214   GREEN GOLD #2   2/1/2010   NMC1022574   NV101473953
215   MAT FRAC   12/23/2011   NMC1066357   NV101751038
216   NO PIT FRAC   12/23/2011   NMC1066358   NV101751039
217   NEXT 200   10/21/2014   NMC1105631   NV101360103
218   NEXT 201   10/21/2014   NMC1105632   NV101360104
219   NEXT 202   10/21/2014   NMC1105633   NV101451117
220   NEXT 203   10/21/2014   NMC1105634   NV101451118
221   NEXT 204   10/21/2014   NMC1105635   NV101451119
222   NEXT 205   10/21/2014   NMC1105636   NV101451120
223   NEXT 206   10/21/2014   NMC1105637   NV101451121
224   NEXT 207   10/21/2014   NMC1105638   NV101451122
225   NEXT 208   10/21/2014   NMC1105639   NV101451123
226   NEXT 209   10/21/2014   NMC1105640   NV101451124
227   NEXT 210   10/21/2014   NMC1105641   NV101451125
228   NEXT 211   10/21/2014   NMC1105642   NV101451126
229   NEXT 212   10/21/2014   NMC1105643   NV101451127
230   NEXT 213   10/21/2014   NMC1105644   NV101451128
231   NEXT 214   10/21/2014   NMC1105645   NV101451129
232   NEXT 215   10/21/2014   NMC1105646   NV101451130
233   NEXT 216   10/20/2014   NMC1105647   NV101451131
234   NEXT 217   10/20/2014   NMC1105648   NV101451132
235   NEXT 218   10/20/2014   NMC1105649   NV101451133
236   NEXT 219   10/20/2014   NMC1105650   NV101451134
237   NEXT 220   10/20/2014   NMC1105651   NV101451135
238   NEXT 221   10/20/2014   NMC1105652   NV101451136
239   NEXT 222   10/20/2014   NMC1105653   NV101451137

 

 A-7 

 

 

            BLM
#   Claim Name   Location Date   Legacy NMC No.   Serial No.
240   NEXT 223   10/20/2014   NMC1105654   NV101486278
241   NEXT 224   10/20/2014   NMC1105655   NV101486197
242   NEXT 225   10/20/2014   NMC1105656   NV101486198
243   NEXT 226   10/20/2014   NMC1105657   NV101486199
244   NEXT 227   10/20/2014   NMC1105658   NV101486200
245   NEXT 228   10/20/2014   NMC1105659   NV101486279
246   NEXT 229   10/20/2014   NMC1105660   NV101486280
247   NEXT 230   10/20/2014   NMC1105661   NV101486281
248   NEXT 231   10/20/2014   NMC1105662   NV101486282
249   NEXT 232   10/20/2014   NMC1105663   NV101486283
250   NEXT 233   10/20/2014   NMC1105664   NV101486284
251   NEXT 234   10/20/2014   NMC1105665   NV101486285
252   NEXT 235   10/20/2014   NMC1105666   NV101486286
253   NEXT 236   10/20/2014   NMC1105667   NV101486287
254   NEXT 237   10/20/2014   NMC1105668   NV101486288
255   NEXT 238   10/20/2014   NMC1105669   NV101486289
256   NEXT 239   10/20/2014   NMC1105670   NV101486290
257   NEXT 240   10/20/2014   NMC1105671   NV101486291
258   NEXT 241   10/20/2014   NMC1105672   NV101486292
259   NEXT 242   10/20/2014   NMC1105673   NV101486293
260   NEXT 243   10/20/2014   NMC1105674   NV101486294
261   NEXT 244   10/20/2014   NMC1105675   NV101487200
262   NEXT 245   10/20/2014   NMC1105676   NV101487275
263   NEXT 246   10/20/2014   NMC1105677   NV101487276
264   NEXT 247   10/20/2014   NMC1105678   NV101487277
265   NEXT 248   10/20/2014   NMC1105679   NV101487278
266   NEXT 249   10/20/2014   NMC1105680   NV101487279
267   NEXT 250   10/20/2014   NMC1105681   NV101487280
268   NEXT 251   10/20/2014   NMC1105682   NV101487281
269   NEXT 252   10/20/2014   NMC1105683   NV101487282
270   NEXT 253   10/20/2014   NMC1105684   NV101487283
271   NEXT 254   10/20/2014   NMC1105685   NV101487284
272   NEXT 255   10/20/2014   NMC1105686   NV101487285
273   NL 4   10/9/2016   NMC1133611   NV101893324
274   NL 5   10/9/2016   NMC1133612   NV101893325
275   NL 6   10/9/2016   NMC1133613   NV101893326
276   NL 8   10/8/2016   NMC1133615   NV101893327
277   NEXT 256   6/19/2019   NMC1191697   NV101594104
278   NEXT 257   6/19/2019   NMC1191698   NV101594105
279   NEXT 258   6/19/2019   NMC1191699   NV101594106

 

Total of two hundred and seventy-nine (279) unpatented lode and placer claims.

 

 A-8 

 

 

Exhibit A-3

Olinghouse Patented Claims

 

The Olinghouse Properties include the following seven (7) patented mining claims situated in Sections 29 and 32, T. 21 N., R. 23 E., MDM, in Washoe County, Nevada:

 

Claim Name   Mineral Survey No.   Patent No.   Assessor’s Parcel No.
Cabin No. 2 Lode   40856   40856   079-150-14
Clipper   Unknown   592380   079-150-30
Williams Gravel   Unknown   592380   079-150-31
Gulch Gravel No. 1   Unknown   592380   079-150-32
Gulch Gravel No. 2   Unknown   592380  

079-150-33

079-150-34

Sunday Evening Gravel   Unknown   592380  

079-150-35

079-150-36

Golden Fleece   Unknown   592380   079-150-37

 

Total of seven (7) patented mining claims.

 

[End of Exhibit A-3]

 

 A-9 

 

 

Exhibit A-4

Olinghouse Unpatented Claims

 

The Olinghouse Properties include the following eleven (11) unpatented mining claims situated in Sections 20 and 29, T. 21 N., R. 23 E., MDM, in Washoe County, Nevada:

 

            BLM
#   Claim Name   Location Date   Legacy NMC No.   Serial No.
1   GREEN HILL #1   3/21/1964   NMC104829   NV101459967
2   CANADA   7/29/1902   NMC104830   NV101404779
3   V   4/30/1897   NMC104831   NV101497142
4   MIDWAY   11/8/1900   NMC104832   NV101406554
5   CABIN   1/3/1897   NMC104833   NV101604223
6   GOLD LEDGE   1/3/1897   NMC104834   NV101401560
7   SLIP   6/19/1897   NMC104835   NV101610305
8   GOLD KING   1/7/1897   NMC104836   NV101407383
9   ANNA   3/3/1981   NMC187633   NV101341827
10   ODC #1   4/21/1998   NMC791170   NV101402766
11   ODC #2   4/21/1998   NMC791171   NV101459585

 

Total of eleven (11) unpatented mining claims.

 

[End of Exhibit A-4]

 

 A-10 

 

 

Exhibit A-5

Lucky Strike Unpatented Claim

 

The Olinghouse Properties include the following unpatented mining claim situated in Sections 20 and 29, T. 21 N., R. 23 E., MDM, in Washoe County, Nevada:

 

            BLM
#   Claim Name   Location Date   Legacy NMC No.   Serial No.
1   NO 3 MINE   10/11/2000   NMC819368   NV101829776

 

Total of one (1) unpatented mining claim.

 

[End of Exhibit A-5]

 

 A-11 

 

 

Exhibit A-6

Babe Mines Unpatented Claims

 

The Olinghouse Properties include the following two (2) unpatented mining claims situated in Section 29, T. 21 N., R. 23 E., MDM, in Washoe County, Nevada:

 

            BLM
#   Claim Name   Location Date   Legacy NMC No.   Serial No.
1   RENEGADE EXT   6/19/1897   NMC18489   NV101495282
2   BABE   1/1/1969   NMC18490   NV101499858

 

Total of two (2) unpatented mining claim.

 

[End of Exhibit A-6]

 

 A-12 

 

 

Exhibit A-7

Target Unpatented Claims

 

The Olinghouse Properties include the following two (2) unpatented mining claims situated in Section 20 and 29, T. 21 N., R. 23 E., MDM, in Washoe County, Nevada:

 

            BLM
#   Claim Name   Location Date   Legacy NMC No.   Serial No.
1   TM #21   9/2/2003   NMC855028   NV101655566
2   TM #22   9/2/2003   NMC855029   NV101655567

 

Total of two (2) unpatented mining claim.

 

[End of Exhibit A-7]

 

[End of Exhibit A]

 

 A-13 

 

 

Exhibit B

Form of Olinghouse Royalty Deed

 

[See attached.]

 

B-0
 

 

Exhibit C

Form of Assignment

 

[See attached.]

 

C-0
 

 

Exhibit D

Form of Memorandum

 

[See attached.]

 

D-0