8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported) January 27, 2022

NEVADA CANYON GOLD CORP.

(Exact Name of Registrant as Specified in its Charter)

Nevada	000-55600	46-5152859
(State or other jurisdiction of incorporation)	(Commission File number)	(IRS Employer Identification No.)

316 California Ave., Suite 543, Reno, NV 89509

(Address of principal executive offices) (zip code)

Registrant’s telephone number, including area code (888) 909-5548

(Former name or former address, if changed since last report.)

Copies to:

Janus Capital Law Group

Attn.: Deron Colby, Esq.

22 Executive Park, Suite 250

Irvine, California 92614

Phone: (949) 633-8965

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(g) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $0.0001 par value	NGLD	OTC Markets (Pinks)

ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT

Purchase agreement to acquire net smelter returns royalty.

On January 27, 2022, Nevada Canyon Gold Corp. (“Nevada Canyon” or the “Company”), through its wholly owned subsidiary, Nevada Canyon, LLC, entered into a Royalty Purchase Agreement (the “Agreement”) with Smooth Rock Ventures, LLC, a wholly owned subsidiary of Smooth Rock Ventures Corp. (“Smooth Rock”), to acquire a 2% net smelter returns royalty (“NSR”) on the Palmetto Project (the “Project”), located in Esmeralda County, Nevada.

To acquire the 2% NSR on the Palmetto Project, Nevada Canyon agreed to pay Smooth Rock a one-time cash payment of USD$350,000. The agreement is subject to final documentation and the Company expects the transaction to close on or before February 7, 2022.

Mr. Alan Day, the Company’s member of the board of directors, is also a member of the board of directors of Smooth Rock, therefore Mr. Day abstained from voting on approval of the Agreement for both companies.

A copy of the Agreement dated January 27, 2022, is attached as Exhibit 10.14 hereto.

ITEM 7.01 REGULATION FD DISCLOSURE

On January 31, 2022, the Company issued a news release announcing it had entered into a Royalty Purchase Agreement with Smooth Rock Ventures, LLC, a wholly owned subsidiary of Smooth Rock Ventures Corp. (“Smooth Rock”), to acquire a 2% NSR on the Palmetto Project, located in Esmeralda County, Nevada, and further described in Item 1.01 of this Form 8-K. A copy of the news release is attached as Exhibit 99.1 hereto.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.

Exhibit No.	Description
10.14	Royalty Purchase Agreement, dated January 27, 2022
99.01	News Release dated January 31, 2022
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.

NEVADA CANYON GOLD CORP.
By:	/s/ Jeffrey Cocks
	Jeffrey Cocks
	President and Chief Executive Officer
Date: January 31, 2022

EX-10.14

Exhibit 10.14

Royalty PURCHASE Agreement

(Palmetto Royalty; Esmeralda County, Nevada)

This Royalty Purchase Agreement (“Agreement”) is made and entered into January 27, 2022 (the “Effective Date”), by and between Smooth Rock Ventures, LLC, a Nevada limited liability company (“Seller”), and Nevada Canyon LLC, a Nevada limited liability company (“Buyer”). Each of the Seller and Buyer are sometimes referred to individually as a “Party” and collectively as the “Parties.”

Recitals

A.	The Seller is the owner of the one hundred and sixteen (116) unpatented lode mining claims identified as the PAL, D, CURRAN, and SM claim groups situated in Esmeralda County, Nevada, which are more particularly described in Exhibit A attached to and by this reference incorporated in this Agreement (the “Property”).
B.	The Seller has agreed to sell to Buyer, and the Buyer has agreed to purchase from Seller, a production royalty in the amount of two percent (2%) of the net smelter returns on all minerals produced from the Property, subject to the terms and conditions of this Agreement.

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

Article 1

Defined Terms; Interpretation

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)       “Agreement” means this Agreement, including all amendments and modifications, and all schedules and exhibits (each individually an “Exhibit” and collectively the “Exhibits”) attached to and by this reference incorporated in this Agreement.

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

(c)       “Closing” means the delivery of documents and other items to be delivered by the parties, the exchange of consideration, and the consummation of the transactions contemplated under this Agreement as described in Section 2.4.

(d)       “Closing Date” means the date on which the Closing shall occur.

(e)       “Encumbrance” means any security, interest, lien, charge, mortgage, indenture, pledge, option, lease, right of first refusal, transfer restriction, net profits interest, royalty, other payment on mineral production, transfer of any ownership interest to a third party by any Seller, or any other encumbrance, together with any agreement to grant any of the foregoing rights or interests.

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(f)       “Purchase Price” shall have the meaning ascribed to that term in Section 2.2 of this Agreement.

(g)       “Property” means collectively the unpatented mining claims described in Exhibit A attached to and incorporated in this Agreement, including all amendments and relocations of the unpatented mining claims.

(h)       “Royalty” means a mineral production royalty in the amount of two percent (2%) of the net smelter returns for all gold and other minerals of any type produced from the Property, which shall be subject to and paid in accordance with the terms of the Royalty Deed.

(i)       “Royalty Deed” shall have the meaning ascribed to that term in Section 2.4(a) of this Agreement.

(j)       “Seller” means Smooth Rock Ventures, LLC, a Nevada limited liability company, and its successors and assigns.

1.2.       Currency. All sums referred to in this Agreement are in United States currency.

Article 2

Purchase and Royalty Termination; Closing

2.1.       Assets to be Purchased and Terminated. Subject to all the terms and conditions of this Agreement and for the consideration described in this Agreement, the Seller agrees to sell and grant to Buyer the Royalty, free and clear of all Encumbrances.

2.2.       Purchase Price. In consideration of the purchase and sale contemplated in this Agreement, the Buyer shall pay to the Seller a total purchase price of Three Hundred Fifty Thousand Dollars (US$350,000.00) (the “Purchase Price”).

2.3.       Closing Date. Subject to the terms and conditions of this Agreement, the consummation of the sale and purchase as contemplated by this Agreement shall take place on or before February 28, 2022 (the “Outside Date”), at such time and place as mutually agreeable to the Parties, or on such other date as is mutually agreeable to the Parties. The date on which the Closing occurs is referred as the “Closing Date.”

2.4.       Closing Deliverables. On the Closing, the Parties shall take the following actions:

(a)

Seller Deliverables. On Closing, the Seller shall execute and deliver to the Buyer the following: (i) a duly executed counterpart to the Royalty Deed in the form attached to this agreement as Exhibit B (the “Royalty Deed”); and (b) such other documents, certificates and other instruments as would be usual in respect of the transaction contemplated by this Agreement, or otherwise in the reasonable opinion of counsel, are reasonably necessary for the proper consummation of this transaction to validly complete the sale and transfer to Buyer the Royalty.

(b)

Buyer Deliverables. On Closing, the Buyer shall deliver to the Seller the following: (i) the Purchase Price in cash or immediately available funds; 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 reasonable opinion of counsel, are reasonably necessary for the proper consummation of this transaction to validly complete the sale and transfer to Buyer the Royalty.

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2.5.       Effect of Closing. On Closing, the Buyer shall acquire and own the Royalty, free and clear of all Encumbrances.

Article 3

Representations, Warranties and Covenants of Seller

Seller represents, warrants and covenants to Buyer as stated below, and all such representations and warranties shall be true and correct as of the Effective Date and the Closing Date, and shall survive the Closing.

3.1.       Authority. Seller has full power, legal right and authority to enter into this Agreement and the instruments which it is obligated to execute and deliver in accordance with the terms of this Agreement and to do all such acts and things as are required to be done, observed or performed by each Seller in accordance with this Agreement.

3.2.       Valid Authorization of this Agreement. Seller has taken all necessary action to authorize the execution, delivery and performance of this Agreement and the instruments which he is obligated to execute and deliver in accordance with this Agreement and to observe and perform the provisions of this Agreement and any such instrument to which it is a party in accordance with its terms.

3.3       Further Assurances. Seller shall execute and deliver all documents and instruments reasonably requested by Buyer to consummate the transactions contemplated under this Agreement.

3.4.       Survival of Representations and Warranties. The representations, warranties and covenants contained in this Article 3 shall survive the execution and delivery of this Agreement and the Closing as well as any assignment hereof.

Article 4

Representations, Warranties and Covenants of Buyer

Buyer represents, warrants and covenants to each Seller as stated below, and all such representations and warranties shall be true and correct as of the Effective Date and the Closing Date, and shall survive the Closing.

4.1.       Authority. Buyer has full power, legal right and authority to enter into this Agreement and the instruments which it is obligated to execute and deliver in accordance with the terms of this Agreement and to do all such acts and things as are required to be done, observed or performed by Buyer in accordance with this Agreement.

4.2.       Valid Authorization of this Agreement. Buyer has taken all necessary action to authorize the execution, delivery and performance of this Agreement and the instruments which it is obligated to execute and deliver in accordance with this Agreement and to observe and perform the provisions of this Agreement and any such instrument to which it is a party in accordance with its terms.

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4.3.        Further Assurances. Buyer shall execute and deliver all documents and instruments reasonably requested by Buyer to consummate the transactions contemplated under this Agreement.

4.4.       Survival of Representations and Warranties. The representations, warranties and covenants contained in this Article 4 shall survive the execution and delivery of this Agreement and the Closing as well as any assignment hereof.

Article 5

Termination; Amendment; Waiver; Assignment

5.1.       Termination by Seller. If Buyer is unable to comply with its obligations under this Agreement on or before the Closing Date, it shall do so as soon thereafter as it is able to do so; however, in no event shall the Closing occur more than ten (10) days after the date described in Section 2.3. If Buyer does not perform its obligations under this Agreement, the Seller may terminate this Agreement by delivering notice to Buyer of Seller’s intention to terminate this Agreement. The termination shall be effective five (5) days after Seller’s delivery of notice of termination. On termination, the Seller shall have no obligation whatever to perform any obligations under this Agreement or to terminate the Waterloo Royalty.

5.2.       Termination by Buyer. If Seller is unable to comply with its obligations under this Agreement on or before the Closing Date, it shall do so as soon thereafter as it is able to do so, however, in no event shall the Closing occur more than ten (10) days after the date described in Section 2.3. If Seller does not perform its obligations under this Agreement, Buyer may terminate this Agreement by delivering notice to Seller of Buyer’s intention to terminate this Agreement. The termination shall be effective five (5) days after Buyer’s delivery of notice of termination. On termination, Buyer shall have no obligation whatever to perform any obligations under this Agreement or to purchase the Property.

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

5.4.       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.

5.5.       Assignment. Buyer may assign this Agreement and its rights under it with Seller’s express written consent which consent will not be unreasonably delayed or withheld. No such assignment shall release Buyer unless otherwise agreed by Seller in writing.

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Article 6

Notices

6.1.       Notices. No notice, request, demand, instruction or other document to be given to any Party shall be effective for any purpose unless personally delivered to the person at the appropriate address or e-mail 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, or transmitted by fax or e-mail or similar means of recorded electronic communication, or sent by registered or certified mail, return receipt requested, as follows:

If to Seller:	Smooth Rock Ventures, LLC
	103 South Main Street
	Yerington, NV 89447
	Attn: Alan Day
	Email: day@mineralexploration.com

If to Buyer:	Nevada Canyon LLC
	316 California Ave, Ste. 543
	Reno, NV 89509
	Attn: Jeffrey Cocks
	Email: 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. 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.

Article 7

Miscellaneous

7.1.       Binding Effect. This Agreement shall bind and inure to the benefit of the respective representatives, successors and assigns of Buyer and Seller.

7.2.       Attorney’s Fees. In the event of any action or proceeding, including an arbitration, brought by either Party against the other under this Agreement, the prevailing Party shall be entitled to recover all costs and expenses, including the actual fees of its attorneys incurred for prosecution, defense, and appeal of such action or proceeding.

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7.3.       Entire Agreement. This Agreement and Exhibits and other writings referred to in this Agreement or delivered pursuant hereto which form a part hereof contain the entire understanding and agreement of the parties with respect to the subject matter hereof. This Agreement supersedes all prior agreements pertaining to the subject matter of this Agreement, including the Letter Agreement.

7.4.       Interpretation. The Parties acknowledge and agree that each has been given the opportunity to review this Agreement with legal counsel independently and has the requisite experience and sophistication to understand, interpret and agree to the particular language of its provisions. In the event of an ambiguity in or dispute regarding the interpretation of same, the interpretation of this Agreement shall not be resolved by any rule of interpretation providing for interpretation against the Party who causes the uncertainty to exist or against the draftsman. This Agreement contains the entire agreement between the Parties relating to the transactions contemplated hereby and all prior or contemporaneous agreements, understandings, representations and statements, oral or written, are merged and integrated into this Agreement.

7.5.       Governing Law. This Agreement shall be governed by, and construed and enforced in accordance with, the laws of the State of Nevada without regard to its provisions concerning conflicts or choice of law.

7.6.       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.

[Signature page follows.]

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

Seller:

Smooth Rock Ventures, LLC, a Nevada limited liability company
By:	/s/ Alan Day
Name:	Alan Day
Title:	Managing Member

Buyer:

Nevada Canyon LLC, a Nevada limited liability company
By its Manager:
NEVADA CANYON GOLD CORP., a Nevada corporation
By:	/s/ Jeffrey Cocks
Name:	Jeffrey A. Cocks
Title:	President

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Exhibit A

Property Description

The Property is comprised of the following one hundred and sixteen (116) unpatented lode mining claims situated in Sections 7 through 9 and 17 through 21, T. 1 S., R. 34 E., MDM, in Esmeralda County, Nevada:

			County	BLM
#	Claim Name	Location Date	Document No.	Legacy NMC No.	Serial No.
1	PAL-1	10/21/2016	206196	NMC1137074	NV101546794
2	PAL-2	10/21/2016	206197	NMC1137075	NV101546795
3	PAL-6	10/21/2016	206201	NMC1137079	NV101546796
4	PAL-7	10/21/2016	206202	NMC1137080	NV101546797
5	PAL-9	10/21/2016	206204	NMC1137082	NV101546798
6	PAL-13	10/21/2016	206208	NMC1137086	NV101546799
7	PAL-15	10/21/2016	206210	NMC1137088	NV101546800
8	PAL-17	10/21/2016	206212	NMC1137090	NV101546801
9	PAL-33	10/21/2016	206228	NMC1137106	NV101546802
10	PAL-34	10/21/2016	206229	NMC1137107	NV101546803
11	PAL-35	10/21/2016	206230	NMC1137108	NV101546804
12	PAL-36	10/21/2016	206231	NMC1137109	NV101546805
13	PAL-37	10/21/2016	206232	NMC1137110	NV101546806
14	PAL-38	10/21/2016	206233	NMC1137111	NV101546807
15	PAL-39	10/21/2016	206234	NMC1137112	NV101546808
16	PAL-40	10/21/2016	206235	NMC1137113	NV101546809
17	PAL-43	10/21/2016	206238	NMC1137116	NV101546810
18	PAL-44	10/21/2016	206239	NMC1137117	NV101548110
19	PAL-45	10/21/2016	206240	NMC1137118	NV101548111
20	PAL-46	10/21/2016	206241	NMC1137119	NV101548112
21	PAL-47	10/21/2016	206242	NMC1137120	NV101548113
22	PAL-48	10/21/2016	206243	NMC1137121	NV101548114
23	PAL-49	10/21/2016	206244	NMC1137122	NV101548115
24	PAL-50	10/21/2016	206245	NMC1137123	NV101548116
25	PAL-52	10/21/2016	206247	NMC1137125	NV101548117
26	PAL-54	10/21/2016	206249	NMC1137127	NV101548118
27	PAL-58	10/21/2016	206253	NMC1137131	NV101548119
28	PAL-60	10/21/2016	206255	NMC1137133	NV101548120
29	PAL-62	10/21/2016	206257	NMC1137135	NV101752169
30	PAL-64	10/21/2016	206259	NMC1137137	NV101752170
31	PAL-66	10/21/2016	206261	NMC1137139	NV101752171
32	PAL-68	10/21/2016	206263	NMC1137141	NV101752172

A-1

			County	BLM
#	Claim Name	Location Date	Document No.	Legacy NMC No.	Serial No.
33	D#29	2/15/2018	2018-210928	NMC1166722	NV101560492
34	D#58	2/15/2018	2018-210929	NMC1166723	NV101560493
35	D#74	2/15/2018	2018-210930	NMC1166724	NV101561284
36	D#75	2/15/2018	2018-210931	NMC1166725	NV101561285
37	D#76	2/15/2018	2018-210932	NMC1166726	NV101561286
38	D#77	2/15/2018	2018-210933	NMC1166727	NV101561287
39	D#78	2/15/2018	2018-210934	NMC1166728	NV101561288
40	D#79	2/15/2018	2018-210935	NMC1166729	NV101561289
41	D#80	2/15/2018	2018-210936	NMC1166730	NV101561290
42	D#81	2/15/2018	2018-210937	NMC1166731	NV101561291
43	D#112	2/15/2018	2018-210939	NMC1166732	NV101561292
44	D#113	2/15/2018	2018-210940	NMC1166733	NV101561293
45	D#114	2/15/2018	2018-210941	NMC1166734	NV101561294
46	D#115	2/15/2018	2018-210942	NMC1166735	NV101561295
47	D#116	2/15/2018	2018-210943	NMC1166736	NV101561296
48	D#117	2/15/2018	2018-210944	NMC1166737	NV101561297
49	D#134	2/15/2018	2018-210945	NMC1166738	NV101561298
50	D#135	2/15/2018	2018-210946	NMC1166739	NV101561299
51	D#136	2/15/2018	2018-210947	NMC1166740	NV101561300
52	D#137	2/15/2018	2018-210948	NMC1166741	NV101561301
53	CURRAN NO 1	2/15/2018	2018-210950	NMC1166742	NV101564425
54	CURRAN NO 2	2/15/2018	2018-210951	NMC1166743	NV101564426
55	D#15	2/15/2018	2018-210952	NMC1166744	NV101564427
56	D#16	2/15/2018	2018-210953	NMC1166745	NV101564428
57	D#17	2/15/2018	2018-210954	NMC1166746	NV101564429
58	D#18	2/15/2018	2018-210955	NMC1166747	NV101564430
59	D#106	2/15/2018	2018-210956	NMC1166748	NV101564431
60	D#108	2/15/2018	2018-210957	NMC1166749	NV101564432
61	D#110	2/15/2018	2018-210958	NMC1166750	NV101564433
62	D#111	2/15/2018	2018-210959	NMC1166751	NV101564434
63	PAL-4	4/21/2018	2018-212156	NMC1173913	NV101784477
64	PAL-5	4/21/2018	2018-212157	NMC1173914	NV101784478
65	PAL-41	4/21/2018	2018-212158	NMC1173915	NV101784479
66	PAL-42	4/21/2018	2018-212159	NMC1173916	NV101784480
67	PAL-53	4/21/2018	2018-212160	NMC1173917	NV101784481
68	PAL-55	4/21/2018	2018-212161	NMC1173918	NV101784482
69	PAL-56	4/21/2018	2018-212162	NMC1173919	NV101784483
70	PAL-57	4/21/2018	2018-212163	NMC1173920	NV101784484

A-2

			County	BLM
#	Claim Name	Location Date	Document No.	Legacy NMC No.	Serial No.
71	PAL-59	4/21/2018	2018-212164	NMC1173921	NV101784485
72	PAL-61	4/21/2018	2018-212165	NMC1173922	NV101784486
73	PAL-63	4/21/2018	2018-212166	NMC1173923	NV101784487
74	PAL-65	4/21/2018	2018-212167	NMC1173924	NV101784488
75	PAL-67	4/21/2018	2018-212168	NMC1173925	NV101784489
76	PAL-69	4/21/2018	2018-212169	NMC1173926	NV101784490
77	PAL-70	4/21/2018	2018-212170	NMC1173927	NV101784491
78	PAL-71	4/21/2018	2018-212171	NMC1173928	NV101784492
79	PAL-72	4/21/2018	2018-212172	NMC1173929	NV101784493
80	SM 1	9/9/2020	2020-221824	NMC1208982	NV101921057
81	SM 2	9/9/2020	2020-221825	NMC1208983	NV101921058
82	SM 3	9/9/2020	2020-221826	NMC1208984	NV101921059
83	SM 4	9/9/2020	2020-221827	NMC1208985	NV101921060
84	SM 5	9/9/2020	2020-221828	NMC1208986	NV101921061
85	SM 6	9/9/2020	2020-221829	NMC1208987	NV101921062
86	SM 7	9/9/2020	2020-221830	NMC1208988	NV101921063
87	SM 8	9/9/2020	2020-221831	NMC1208989	NV101921064
88	SM 9	9/9/2020	2020-221832	NMC1208990	NV101921065
89	SM 10	9/9/2020	2020-221833	NMC1208991	NV101921066
90	SM 11	9/9/2020	2020-221834	NMC1208992	NV101921067
91	SM 12	9/9/2020	2020-221835	NMC1208993	NV101921068
92	SM 13	9/9/2020	2020-221836	NMC1208994	NV101921069
93	SM 14	9/9/2020	2020-221837	NMC1208995	NV101921070
94	SM 15	9/9/2020	2020-221838	NMC1208996	NV101921071
95	SM 16	9/9/2020	2020-221839	NMC1208997	NV101921072
96	SM 17	9/9/2020	2020-221840	NMC1208998	NV101921073
97	SM 18	9/9/2020	2020-221841	NMC1208999	NV101921074
98	SM 19	9/9/2020	2020-221842	NMC1209000	NV101921075
99	SM 20	9/9/2020	2020-221843	NMC1209001	NV101921076
100	SM 21	9/9/2020	2020-221844	NMC1209002	NV101921512
101	SM 22	9/9/2020	2020-221845	NMC1209003	NV101921513
102	SM 23	9/9/2020	2020-221846	NMC1209004	NV101921514
103	SM 24	9/9/2020	2020-221847	NMC1209005	NV101921515
104	SM 25	9/9/2020	2020-221848	NMC1209006	NV101921516
105	SM 26	9/9/2020	2020-221849	NMC1209007	NV101921517
106	SM 27	9/9/2020	2020-221850	NMC1209008	NV101921518
107	SM 28	9/9/2020	2020-221851	NMC1209009	NV101921519
108	SM 29	9/9/2020	2020-221852	NMC1209010	NV101921520
109	SM 30	9/9/2020	2020-221853	NMC1209011	NV101921521

A-3

			County	BLM
#	Claim Name	Location Date	Document No.	Legacy NMC No.	Serial No.
110	SM 31	9/9/2020	2020-221854	NMC1209012	NV101921522
111	SM 32	9/9/2020	2020-221855	NMC1209013	NV101921523
112	SM 33	9/9/2020	2020-221856	NMC1209014	NV101921524
113	SM 34	9/9/2020	2020-221857	NMC1209015	NV101921525
114	SM 35	9/9/2020	2020-221858	NMC1209016	NV101921526
115	SM 36	9/9/2020	2020-221859	NMC1209017	NV101921527
116	SM 37	9/9/2020	2020-221860	NMC1209018	NV101921528

Total of one hundred and sixteen (116) unpatented lode mining claims.

[End of Exhibit A]

A-4

Exhibit B

Form of Royalty Deed

APNs: N/A (Royalty Conveyance Only)

Recorded at the request of,

and after recording return to:

Jeff N. Faillers

Erwin Thompson Faillers

241 Ridge Street, Suite 210

Reno, Nevada 89501

The undersigned hereby confirm that there are no

social security numbers on this document.

Royalty Deed

This Royalty Deed (the “Deed”) is dated effective _____________ ___, 2022 (the “Effective Date”), from SMOOTH ROCK VENTURES, LLC, a Nevada limited liability company (“Obligor”), to NEVADA CANYON LLC, a Nevada limited liability company (“Royalty Holder”). Obligor and Royalty Holder are sometimes referred to individually as a “Party” and collectively as the “Parties.”

Recitals

C.	The Seller is the owner of the one hundred and sixteen (116) unpatented lode mining claims identified as the PAL, D, CURRAN, and SM claim groups situated in Esmeralda County, Nevada, which are more particularly described in Exhibit A attached to and by this reference incorporated in this Agreement (the “Properties”).
D.	The Parties entered into that certain Royalty Purchase Agreement dated ________ ___, 2022 (the “Agreement”), pursuant to which Obligor agreed to sell to Royalty Holder, and Royalty Holder agreed to purchase from Obligor, a production royalty in the amount of two percent (2%) of the net smelter returns on all minerals produced from the Properties.
E.	The Parties have closed the purchase and sale of the royalty as contemplated in the Agreement and the Obligor now wishes to execute and deliver this Deed to Royalty Holder pursuant to the terms of the Agreement.

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

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Conveyance

Grant of Royalty.

Royalty Percentage. For good and valuable consideration, the receipt and sufficiency of which are acknowledged by the Parties, Obligor grants, sells, assigns and conveys to Royalty Holder, and its successors and assigns forever, a production royalty in an amount equal to two percent (2%) of the Net Smelter Returns (the “Royalty Percentage”), as hereinafter defined and computed, for all gold and other minerals of any type produced from the Properties, including all gold and other minerals of any type produced from dumps or stockpiles located on the Properties, from and after the Effective Date (the “Royalty”), subject to Section 1(b).

No Buy Down. Obligor will not have the right to buy down all or any portion of the Royalty.

Real Property Interest; Burden on the Properties. Obligor and Royalty Holder intend that the Royalty will be perpetual and will constitute a presently vested interest in and a covenant running with the Properties, including any after-acquired title, which will inure to the benefit of and be binding upon the Parties and their respective successors and assigns so long as Obligor or any successor or assign of Obligor holds any rights or interests in the Properties. This Deed and Obligor’s Royalty obligation shall attach to any amendments, relocations or conversions of any mining claim, license, or lease, concession, permit, patent or other tenure comprising the Properties, or to any renewals or extensions thereof, and the mineral products and proceeds of mineral products extracted and produced from the Properties, and shall extend to and include any unpatented mining claim, patented mining claim, or other mineral interest (fee land or otherwise) located, leased, or otherwise acquired by Obligor which are situated partially or entirely within the exterior-most boundaries of the Properties, including any unpatented mining claims located to appropriate any fractions or gaps among the Properties. In the event that the Royalty attaches to any interests pursuant to this Section 10(c), the Parties agree and covenants to execute, deliver, and record in the Office of the Esmeralda County Recorder, at Royalty Holder’s request in its sole discretion, an instrument by which Obligor grants to Royalty Holder the Royalty and subjects such interests to all of the burdens, conditions, obligations and terms of this Deed. The Parties do not intend that there be any violation of the rule against perpetuities. Accordingly, any right that is subject to such rule shall be exercised within the maximum time periods permitted under applicable law.

Representations and Warranties.

Full Authority. Obligor represents and warrants that it has all authority necessary for it to execute and deliver this Deed.

No Encumbrances. Obligor represents and warrants it has not taken any action by which the Properties or dumps or stockpiles located on the Properties will be subject to a lien or other encumbrance that will in any way be a lien or other encumbrance on the Royalty.

Royalty Holder’s Acceptance. Royalty Holder acknowledges and agrees that this Deed is accepted by Royalty Holder in satisfaction of Obligor’s obligation to deliver this Deed pursuant to the Agreement.

C-2

Definition of Net Smelter Returns.

For Gold Bullion. “Net Smelter Returns,” for gold produced from the Properties or from dumps or stockpiles located on the Properties, and refined by or for Obligor to a form that meets good delivery standards in the London Bullion Market or comparable terminal market (“Gold Bullion”), will be determined by multiplying (i) the gross number of troy ounces of Gold Bullion produced from the Properties or dumps or stockpiles located on the Properties, and returned to or credited to Obligor or purchased and paid for by a smelter, refiner, processor, purchaser or other recipient of such bullion during a calendar quarter, by (ii) the arithmetic average of the London Bullion Market Association P.M. Fixing Price (in United States dollars) reported on its website for Gold Bullion for the calendar quarter (or should such quotation cease, another similar quotation acceptable to Royalty Holder, acting reasonably) calculated by summing the quoted prices reported for each day of the calendar quarter and dividing the sum by the number of days for which such prices were reported, and (iii) by deducting from the product of (i) times (ii), the Allowable Deductions permitted in Section 4(a) below.

For Other Products. For gold and other minerals of any type produced from the Properties or dumps or stockpiles located on the Properties, and sold in a crude or intermediate form other than as Gold Bullion (“Other Products”), Net Smelter Returns will be equal to (i) the actual sales price for the minerals contained in such Other Products received by Obligor from a smelter, refiner, processor, purchaser or other recipient of such products during a calendar quarter, less (ii) the Allowable Deductions permitted in Section 4(b) below.

Affiliate Transactions. If Other Products are delivered in kind or sold to an entity which, under the broadest definition, directly or indirectly controls, is controlled by, or is under common control with Obligor (an “Affiliate”), and are sold by such Affiliate with or without further processing, Net Smelter Returns will be calculated based on the value of Gold Bullion sold by or credited or returned to the Affiliate (calculated pursuant to Section 3(a)), or the proceeds actually received by such Affiliate in an arm’s length transaction for sale of Other Products, less Allowable Deductions actually incurred by the Affiliate, and the Gold Bullion or Other Products will be deemed to have been sold by Obligor, the proceeds will be deemed to have been received by Obligor and the Allowable Deductions will be deemed to have been made by Obligor for purposes of calculating Net Smelter Returns, in each case as if Obligor had sold (or received or was credited with) such Gold Bullion or Other Products in an arm’s-length transaction.

Insurance Proceeds. In the event Obligor receives insurance proceeds for gold in Gold Bullion or for gold or other minerals in Other Products lost or damaged, Net Smelter Returns will equal any such insurance proceeds that are received by Obligor for such loss.

Allowable Deductions.

For Gold Bullion. For gold produced and sold as Gold Bullion, “Allowable Deductions” means, to the extent actually incurred:

charges imposed by a smelter or refinery for refining Gold Bullion from doré or concentrates produced in Obligor’s mill or other processing plant; however, charges incurred by Obligor for processing raw or crushed ore or other preliminary products in Obligor’s mill or other processing plant shall not be subtracted in determining Net Smelter Returns;

penalty substance, assaying, and sampling charges imposed on or incurred by Obligor for refining Gold Bullion contained in such production;

C-3

charges and costs, if any, for transportation and insurance of doré or concentrates produced in Obligor’s mill or other processing plant to places where such doré or concentrates are smelted, refined and/or sold or otherwise disposed of; and

all taxes paid on production of Gold Bullion, except income tax, including but not limited to, production, severance, sales and privilege taxes and all local, state and federal taxes that are based on the production of Gold Bullion.

For Other Products. For gold and other minerals of any type produced and sold in Other Products, “Allowable Deductions” means, to the extent actually incurred:

charges imposed by the smelter, refiner or other processor for smelting, refining or processing gold and other minerals of any type contained in Other Products, but excluding any and all charges and costs related to Obligor’s mill or other processing plant constructed for the purpose of milling or processing Other Products;

penalty substance, assaying, and sampling charges imposed by a smelter, refiner or other processor for smelting, refining, or processing gold and other minerals of any type contained in Other Products, but excluding any and all charges and costs of or related to Obligor’s mill or other processing plant constructed for the purpose of milling or processing Other Products;

charges and costs, if any, for transportation and insurance of the gold and other minerals of any type contained in Other Products and the beneficiated products thereof from Obligor’s mill or other processing plant to places where such Other Products or the beneficiated products thereof are smelted, refined and/or sold or otherwise disposed of; and

all taxes paid on production of the gold and other minerals of any type contained in Other Products, except income tax, including but not limited to, production, severance, sales and privilege taxes and all local, state and federal taxes that are based on the production of gold contained in Other Products.

Custom Facilities. In the event Obligor carries out smelting, refining or other processing operations to produce Gold Bullion or gold and other minerals of any type contained in Other Products in facilities owned or controlled, in whole or in part, by Obligor, which facilities were not constructed for the sole purpose of smelting, refining or processing crude or intermediate products produced from the Properties, then charges, costs and penalties for such smelting, refining or processing shall mean the amount Obligor would have incurred as “Allowable Deductions” under Section 4(a)(i) or Section 4(b)(i) above if such smelting, refining or other processing operations were carried out at facilities not owned or controlled by Obligor, but in no event will such Allowable Deductions be greater than actual costs incurred by Obligor with respect to such smelting, refining or other processing.

Calculating and Paying Royalty; Reporting.

Calculation. The dollar amount of the Royalty due to Royalty Holder for a calendar quarter will be the product of the sum of the Net Smelter Returns for Gold Bullion plus the Net Smelter Returns for the gold and other minerals of any type contained in Other Products for such quarter multiplied by the Royalty Percentage.

C-4

Payment.

Payment of the Royalty for a calendar quarter will be due by the last day of the month following the end of each calendar quarter in which Gold Bullion or Other Products containing gold and other minerals of any type are sold or returned or credited to Obligor (the “Payment Date”). If, for any reason, all information necessary to calculate and make a payment on the Payment Date is not available, Obligor will make a provisional payment on the Payment Date based on the available information and provide a final reconciliation for such payment promptly after all needed information becomes available to Obligor. In the event Royalty Holder has been underpaid in any provisional payment, Obligor will promptly pay the difference to Royalty Holder in cash or other readily available funds and if Royalty Holder has been overpaid in any provisional payment, Royalty Holder will promptly pay to Obligor the difference in cash or other readily available funds. All payments of the Royalties will be made by Obligor to Royalty Holder, and will be paid free of any and all withholding taxes.

Obligor acknowledges that delinquent payment by Obligor to Royalty Holder of Royalty payments will cause Royalty Holder to incur costs, the exact amount of which will be difficult to ascertain. Accordingly, if any amount due and payable by Obligor is not received by Royalty Holder within ten (10) days after such amount is due, then Obligor shall pay to Royalty Holder a late charge equal to four percent (4%) of such overdue amount. Royalty Holder’s acceptance of such late charge shall not constitute a waiver of Obligor’ default with respect to such overdue amount, nor prevent Royalty Holder from exercising any of Royalty Holder’s other rights and remedies. If any amount payable by Obligor remains delinquent for a period more than thirty (30) days, Obligor shall pay to Royalty Holder, in addition to the delinquent payment, interest from and after the due date at the lesser of: (a) the Prime Rate interest rate quoted as “Prime” by JPMorgan Chase and Co., at its head office, as the rate may change from day to day (which quoted rate may not be the lowest rate at which the bank loans funds) plus five (5) percentage points; or (b) the maximum non-usurious rate permitted by applicable Law. If any portion of any royalty payment (and any related Interest amount) was overpaid, Obligor shall be entitled to offset such amount against the next royalty payment.

Detailed Statement. All payments of Royalty will be accompanied by a detailed statement explaining the calculation thereof together with any available settlement sheets received by Obligor from the smelter, refiner or other purchaser of Gold Bullion or gold and other minerals of any type contained in Other Products.

Other Provisions Related to Payment.

Hedging Transactions. All profits and losses resulting from Obligor’s engaging in any commodity futures trading, option trading, or metals trading, or any combination thereof, and any other hedging transactions including trading transactions designed to avoid losses and obtain possible gains due to metal price fluctuations are specifically excluded from calculation of Net Smelter Returns and will be solely for Obligor’s account.

Commingling. Obligor will have the right to commingle, either underground, at the surface, in stockpiles or at a mill, autoclave, roaster or other processing facility used by Obligor, ore or concentrates, minerals and other material mined and removed from the Properties with ore, concentrates, minerals and other material mined and removed from other property. Before commingling, the average grade of the commingled materials and other measures as are appropriate will first be calculated by Obligor from representative samples, and the weight of such materials will be determined before commingling using practices which will be as good as or better than prevailing industry practices. In obtaining representative samples, calculating the average grade of the ore and average recovery percentages, the procedures used will be as good as or better than prevailing industry practices. Representative samples of the materials to be commingled will be retained by Obligor and assays (including moisture and penalty substances) and other appropriate analyses of these samples shall be retained for a reasonable amount of time, but not less than 18 months, after receipt by Royalty Holder of the applicable royalty payment.

C-5

No Obligation to Mine or Process. Subject to the Agreement, Obligor will have sole discretion to determine the extent of its operations on or for the benefit of the Properties and the time or the times for development, mining, stockpiling, processing and selling products produced from the Properties and the suspension or resumption of any operation with respect thereto. Obligor will have no obligation to Royalty Holder (in its capacity as the holder of this royalty) or otherwise to mine or to conduct any other operation on any of the Properties.

Books, Records, Inspections and Confidentiality.

Inspection of Books and Records. Royalty Holder will have the right, upon reasonable notice to Obligor, to inspect and copy all books, records, technical data, information and materials (the “Data”) pertaining to calculation of Royalty payments, including those with respect to commingling; provided that such inspections will not unreasonably interfere with Obligor’s operations. Obligor makes no representations or warranties to Royalty Holder concerning any of the Data except that the Data will be prepared in good faith and Royalty Holder agrees that if it elects to rely on any such Data or any other information made available by Obligor, it does so at its sole risk, except in the event of bad faith or fraud.

Audit and Objections. Royalty Holder will have the right to audit the books and records pertaining to production from the Properties and the calculation of the Royalty and to contest payments of Royalty for a period of twenty-four (24) months following receipt by Royalty Holder of each Royalty payment. Each Royalty payment will be deemed conclusively correct unless Royalty Holder objects to it in writing within twenty-four (24) months after receipt of such payment, setting forth in detail the basis for the Royalty Holder’s objection. If it is finally determined, through agreement by the Parties or following completion of the dispute as set out in Section 7(c) below, that Royalty Holder has been underpaid in any such payment, Obligor will promptly pay to Royalty Holder the underpaid amount plus interest in accordance with Section 5(b)(ii). In addition, if it is finally determined, through agreement by the Parties or following completion of the dispute as set out in Section 7(c) below, that Royalty payments for any calendar year are underpaid by more than five percent (5%), then Obligor will reimburse Royalty Holder for its reasonable costs incurred in auditing the books and records of Obligor.

Dispute Resolution.

If Royalty Holder objects to a Royalty payment in a timely manner as set out in Section 7(b) above, then the Parties will meet within thirty (30) days of Obligor’s receipt of the Royalty Holder’s objection and, acting in good faith, seek to resolve the dispute. If the Parties fail to resolve the dispute within thirty (30) days of the initial meeting, the dispute will be referred to the respective chief executive officers (or persons holding analogous positions) of the Parties who will, in good faith, attempt to resolve the dispute within twenty-one (21) days of such referral. If the chief executive officers of the Parties are unable to resolve the matter within such 21-day period, then either Party may submit the dispute to a court as provided in Section 7(c)(iii) below.

If any Party objects to the performance by the other Parties of any obligation arising under this Deed or of its interpretation, the Parties will meet within thirty (30) days of the by the other Party of the objecting Party’s objection and, acting in good faith, seek to resolve the dispute. If the Parties fail to resolve the dispute within thirty (30) days of the initial meeting, the dispute will be referred to the respective chief executive officers (or persons holding analogous positions) of the Parties who will, in good faith, attempt to resolve the dispute within twenty-one (21) days of such referral. If the chief executive officers of the Parties are unable to resolve the matter within such 21-day period, then either Party may submit the dispute to a court as provided in Section 7(c)(iii) below.

C-6

Any dispute arising out of or based upon this Deed or a Royalty payment or may be instituted in the state courts of Nevada or the federal courts of the United States, in each case located in Reno, Nevada, and each Party irrevocably submits to the exclusive jurisdiction of such courts. Service of process, summons, notice or other document delivered by mail to such Party’s address set forth herein shall be effective service of process for dispute brought in any such court. The Parties irrevocably and unconditionally waive any objection to the laying of venue of any dispute in such courts and irrevocably waive and agree not to plead or claim in any such court that any such dispute brought in any such court has been brought in an inconvenient forum.

EACH PARTY HEREBY IRREVOCABLY WAIVES ALL RIGHTS TO A JURY TRIAL IN ANY ACTION, SUIT, OR PROCEEDING OF ANY KIND DIRECTLY OR INDIRECTLY ARISING OUT OF OR IN ANY WAY RELATING TO THIS AGREEMENT. THE JURY TRIAL WAIVER CONTAINED IN THIS DEED IS INTENDED TO APPLY, TO THE FULLEST EXTENT PERMITTED BY LAW, TO ANY AND ALL DISPUTES AND CONTROVERSIES THAT ARISE OUT OF OR IN ANY WAY RELATE TO ANY OR ALL OF THE MATTERS DESCRIBED IN THE PRECEDING SENTENCE, INCLUDING WITHOUT LIMITATION CONTRACT CLAIMS, TORT CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS OF ANY KIND. THIS DEED MAY BE FILED WITH ANY COURT OF COMPETENT JURISDICTION AS A PARTY’S WRITTEN CONSENT TO SUCH PARTY’S WAIVER OF A JURY TRIAL.

Except as otherwise specified herein, in the event of a dispute arising under this Deed is submitted to court, the prevailing Party will be entitled to payment of its reasonable attorneys’ fees and costs in litigating the dispute.

Inspection of Facilities. Royalty Holder will have the right, upon reasonable notice, to inspect the facilities associated with the Properties to the extent necessary to confirm Obligor’s proper performance of its obligations in this Deed. Such inspection will be at the sole risk of Royalty Holder, and Royalty Holder will indemnify Obligor from any liability caused by Royalty Holder’s exercise of inspection rights, unless such liability is caused by the gross negligence or intentional acts of Obligor or its employees or agents.

Confidentiality.

No Party shall, without the express written consent of the other Parties, which consent may be withheld for any purpose, disclose any non-public information generated or received under this Deed relating to the calculation of Net Smelter Returns or Obligor’s operations on the Properties or other property (“Confidential Information”), other than to employees, agents or consultants of the receiving Party in respect of the administration or enforcement of its rights hereunder and who agree to be bound by the confidentiality provisions of this Deed (the breach of which shall be deemed to be a breach by the Party).

Any Party may disclose Confidential Information received from another Party (A) to a prospective lender to whom or to which the Party may, in good faith, grant a security interest in its interest in the Properties, or (B) to a prospective purchaser of all or part of a Party’s interest in the Royalty or the Properties, but only, in each case, if the prospective recipient of Confidential Information has executed a confidentiality agreement that includes confidentiality provisions substantially similar to this subsection.

C-7

Confidential Information may also be disclosed if such disclosure is required for compliance with applicable laws, rules, regulations or orders of any governmental agency or stock exchange having jurisdiction over a Party; provided, however, that the notice shall have been given to the non-disclosing Party or Parties of such disclosure as far in advance of such disclosure as is reasonably practicable and the disclosing Party or Parties ensures that only such information as is necessary to comply with the obligations is disclosed.

Compliance with Laws, Reclamation, Environmental Obligations and Indemnities.

Compliance with Laws. Obligor shall comply with all applicable federal, state and local laws, regulations and ordinances relating to Obligor’s activities and operations on or relating to the Properties.

Reclamation, Environmental Obligations and Indemnities. Obligor shall perform all reclamation required under federal, state and local laws, regulations and ordinances relating to Obligor’s activities or operations on or relating to the Properties. Obligor shall defend, indemnify and hold harmless Royalty Holder from and against any and all actions, claims, costs, damages, expenses (including attorney’s fees and legal costs), liabilities and responsibilities arising from or relating to Obligor’s activities or operations on or relating to the Property, including those under laws, regulations and ordinances intended to protect or preserve the environment or to reclaim the Properties. Obligor’s obligations under this Section 8(b) shall survive the abandonment, surrender or transfer of the Properties.

Insurance. Obligor shall use commercially reasonable efforts to maintain in good standing any policies of insurance maintained by Obligor in respect of the Properties and the mineral products and present all claims under such policies in a due and timely manner.

Title Maintenance.

Title Maintenance and Taxes. Subject to Obligor’s right to abandon all or any part of the Properties, Obligor shall maintain title to the Properties, including paying when due all taxes on or with respect to the Properties.

Assessment Work and Claim Maintenance Fees. Subject to Obligor’s right to abandon all or any part of the Properties, Obligor shall perform all required assessment work on, pay all mining claim maintenance fees for the Properties, and make such filings and recordings as are necessary to maintain title to the Properties in accordance with applicable federal and state laws and regulations.

[Remainder of page intentionally left blank.]

C-8

General Provisions.

Transfers.

Obligor may freely transfer all or any portion of its interest in the Properties so long as such transfer is expressly made subject to the Royalty. If Obligor transfers all or any portion of its interest in the Properties, Obligor will obtain from the transferee a written acknowledgement and assumption of the obligations of Obligor under this Deed with respect to the interest so transferred, and promptly provide evidence of such acknowledgement and assumption to Royalty Holder. Upon obtaining and delivering such acknowledgment and assumption to Royalty Holder, Obligor will thereupon be relieved of all liability for payment of the Royalty with respect to the Properties transferred for any Royalty that may thereafter arise with respect to such transferred interest, except with respect to any Royalty payments made prior to the date of transfer, which will continue to be governed by this Deed.

In the event Obligor desires to mortgage, pledge, encumber or otherwise create a security interest in all or any portion of the Properties or products produced from the Properties, Obligor will cause each agreement, indenture, bond, deed of trust, filing, application or other instrument that creates or purports to create a lien, mortgage, security interest or other charge secured by any interest in any of the Properties or such products to include an express agreement and acknowledgement by the parties to such instrument, in form and substance reasonably satisfactory to Royalty Holder, that the Royalty is (A) senior in right of payment and collection from revenues to any and all obligations created thereby in respect of any of the Properties or such products, and (B) that the Royalty is an independent interest in the Properties and is not subject to foreclosure pursuant to such mortgage, encumbrance or other form of security interest.

Royalty Holder may freely transfer, mortgage, pledge, encumber or otherwise create a security interest in all or any portion of the Royalty, provided that Obligor will have no obligation to make payments of Royalty to a transferee until receipt of written notice of the transfer and a copy of the transferring document.

No Partnership or Special Relationship. The relationship of Obligor and Royalty Holder with respect to the Royalty will not be construed to create, expressly or by implication, a joint venture, mining partnership, commercial partnership, or other partnership relationship.

Certain Definitions. As used in the Deed, the term “Royalty Holder” will include all of the successors-in-interest to the Royalty Holder, and the term “Obligor” will include all of Obligor’s successors-in-interest.

Tailings and Other Waste Material. All tailings, residues, waste rock, spoiled leach materials, and other materials resulting from Obligor’s operations and activities with respect to the Properties shall be the sole property of Obligor but if Obligor processes such materials in the future, all gold and other minerals produced from such materials will be subject to the Royalty and the terms of this Deed.

Notices. Any notice, demand or other communication under this Deed (“Notice”) required or permitted to be given or made under this Deed will be in writing and shall be given to a Party at the address below (i) by courier or recognized overnight delivery service, or (ii) by registered or certified mail, return receipt requested. All Notices shall be effective and will be deemed delivered (A) if by courier or recognized overnight delivery service on the date of delivery, (B) if solely by mail on the day delivered as shown on the actual receipt. A Party may change its address for purposes of Notices from time-to-time by Notice to the other Party.

C-9

If to Obligor:	Smooth Rock Ventures, LLC
	103 South Main Street
	Yerington, NV 89447
	Attn: Alan Day

If to Royalty Holder:	Nevada Canyon LLC
	316 California Ave, Ste. 543
	Reno, NV 89509
	Attn: Jeffrey Cocks

Section Headings. The section headings contained in this Deed are inserted for convenience only and do not affect in any way the meaning or interpretation of this Deed.

Amendment. No amendment of any provision of this Deed will be valid with respect to any Party unless the same shall be in writing and signed by each Party. No waiver by any Party of any default or covenant hereunder, whether intentional or not, will be deemed to extend to any prior or subsequent default or covenant or affect in any way any rights arising by virtue of any prior or subsequent occurrence.

Invalidity. If any term or provision of this Deed is invalid or unenforceable in any situation in any jurisdiction it will not affect the validity or enforceability of the remaining terms and provisions.

Governing Law. This Deed will be governed by and construed in accordance with the laws of the State of Nevada without giving effect to any choice or conflicts of law provision or rule (whether of the State of Nevada or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Nevada.

Interpretation. The Parties have participated jointly in the negotiation and drafting of this Deed. In the event an ambiguity or question of intent or interpretation arises, this Deed will be construed as if drafted jointly by the parties and no presumption or burden of proof will arise favoring or disfavoring either Party by virtue of the authorship of any of the provisions of this Deed.

Counting. If the final day of any period or any date of performance under this Deed falls on a Saturday, Sunday or legal holiday in Nevada, then the final day of the period or the date of performance will be extended to the next day that is not a Saturday, Sunday or legal holiday in Nevada. For purposes of computing the time for performance of any obligation hereunder, however, Saturday, Sundays and legal holidays will be included.

Counterparts. This Deed may be executed in several counterparts, each of which shall be deemed to be an original, and all of which shall together constitute one and the same instrument, and delivery of an executed copy of this Deed by email transmission or by other means of electronic communication capable of producing a printed copy shall be deemed to be execution and delivery of this Deed as of the date first above written.

[Signature page follows.]

C-10

The Parties have executed this Deed effective as of the Effective Date.

Obligor:

Smooth Rock Ventures, LLC, a Nevada limited liability company

By:
Name:	Alan Day
Title:	Managing Member

Royalty Holder:
Nevada Canyon LLC, a Nevada limited liability company
By its Manager:
NEVADA CANYON GOLD CORP., a Nevada corporation
By:
Name:	Jeffrey A. Cocks
Title:	President

[Notarial page follows.]

C-11

STATE OF ______________________ )

                                                                            ) ss.

COUNTY OF_____________________ )

This Royalty Deed was acknowledged me before me on this ____ day of ______________, 2022, by Alan Day, as the Managing Member of Smooth Rock Ventures, LLC, a Nevada limited liability company.

______________________________________

Notary Public

My commission expires: __________________

STATE OF ______________________ )

                                                                            ) ss.

COUNTY OF_____________________ )

This Royalty Deed was acknowledged me before me on this ____ day of _____________, 2022, by Jeffrey A. Cocks, as the President of Nevada Canyon Gold Corp., a Nevada corporation, as the Manager of Nevada Canyon LLC, a Nevada limited liability company.

______________________________________

Notary Public

My commission expires: __________________

C-12

Exhibit A

Description of Properties

The Properties consist of the following one hundred and sixteen (116) unpatented lode mining claims situated in Sections 7 through 9 and 17 through 21, T. 1 S., R. 34 E., MDM, in Esmeralda County, Nevada:

			County	BLM
#	Claim Name	Location Date	Document No.	Legacy NMC No.	Serial No.
1	PAL-1	10/21/2016	206196	NMC1137074	NV101546794
2	PAL-2	10/21/2016	206197	NMC1137075	NV101546795
3	PAL-6	10/21/2016	206201	NMC1137079	NV101546796
4	PAL-7	10/21/2016	206202	NMC1137080	NV101546797
5	PAL-9	10/21/2016	206204	NMC1137082	NV101546798
6	PAL-13	10/21/2016	206208	NMC1137086	NV101546799
7	PAL-15	10/21/2016	206210	NMC1137088	NV101546800
8	PAL-17	10/21/2016	206212	NMC1137090	NV101546801
9	PAL-33	10/21/2016	206228	NMC1137106	NV101546802
10	PAL-34	10/21/2016	206229	NMC1137107	NV101546803
11	PAL-35	10/21/2016	206230	NMC1137108	NV101546804
12	PAL-36	10/21/2016	206231	NMC1137109	NV101546805
13	PAL-37	10/21/2016	206232	NMC1137110	NV101546806
14	PAL-38	10/21/2016	206233	NMC1137111	NV101546807
15	PAL-39	10/21/2016	206234	NMC1137112	NV101546808
16	PAL-40	10/21/2016	206235	NMC1137113	NV101546809
17	PAL-43	10/21/2016	206238	NMC1137116	NV101546810
18	PAL-44	10/21/2016	206239	NMC1137117	NV101548110
19	PAL-45	10/21/2016	206240	NMC1137118	NV101548111
20	PAL-46	10/21/2016	206241	NMC1137119	NV101548112
21	PAL-47	10/21/2016	206242	NMC1137120	NV101548113
22	PAL-48	10/21/2016	206243	NMC1137121	NV101548114
23	PAL-49	10/21/2016	206244	NMC1137122	NV101548115
24	PAL-50	10/21/2016	206245	NMC1137123	NV101548116
25	PAL-52	10/21/2016	206247	NMC1137125	NV101548117
26	PAL-54	10/21/2016	206249	NMC1137127	NV101548118
27	PAL-58	10/21/2016	206253	NMC1137131	NV101548119
28	PAL-60	10/21/2016	206255	NMC1137133	NV101548120
29	PAL-62	10/21/2016	206257	NMC1137135	NV101752169
30	PAL-64	10/21/2016	206259	NMC1137137	NV101752170
31	PAL-66	10/21/2016	206261	NMC1137139	NV101752171
32	PAL-68	10/21/2016	206263	NMC1137141	NV101752172
33	D#29	2/15/2018	2018-210928	NMC1166722	NV101560492
34	D#58	2/15/2018	2018-210929	NMC1166723	NV101560493

C-13

			County	BLM
#	Claim Name	Location Date	Document No.	Legacy NMC No.	Serial No.
35	D#74	2/15/2018	2018-210930	NMC1166724	NV101561284
36	D#75	2/15/2018	2018-210931	NMC1166725	NV101561285
37	D#76	2/15/2018	2018-210932	NMC1166726	NV101561286
38	D#77	2/15/2018	2018-210933	NMC1166727	NV101561287
39	D#78	2/15/2018	2018-210934	NMC1166728	NV101561288
40	D#79	2/15/2018	2018-210935	NMC1166729	NV101561289
41	D#80	2/15/2018	2018-210936	NMC1166730	NV101561290
42	D#81	2/15/2018	2018-210937	NMC1166731	NV101561291
43	D#112	2/15/2018	2018-210939	NMC1166732	NV101561292
44	D#113	2/15/2018	2018-210940	NMC1166733	NV101561293
45	D#114	2/15/2018	2018-210941	NMC1166734	NV101561294
46	D#115	2/15/2018	2018-210942	NMC1166735	NV101561295
47	D#116	2/15/2018	2018-210943	NMC1166736	NV101561296
48	D#117	2/15/2018	2018-210944	NMC1166737	NV101561297
49	D#134	2/15/2018	2018-210945	NMC1166738	NV101561298
50	D#135	2/15/2018	2018-210946	NMC1166739	NV101561299
51	D#136	2/15/2018	2018-210947	NMC1166740	NV101561300
52	D#137	2/15/2018	2018-210948	NMC1166741	NV101561301
53	CURRAN NO 1	2/15/2018	2018-210950	NMC1166742	NV101564425
54	CURRAN NO 2	2/15/2018	2018-210951	NMC1166743	NV101564426
55	D#15	2/15/2018	2018-210952	NMC1166744	NV101564427
56	D#16	2/15/2018	2018-210953	NMC1166745	NV101564428
57	D#17	2/15/2018	2018-210954	NMC1166746	NV101564429
58	D#18	2/15/2018	2018-210955	NMC1166747	NV101564430
59	D#106	2/15/2018	2018-210956	NMC1166748	NV101564431
60	D#108	2/15/2018	2018-210957	NMC1166749	NV101564432
61	D#110	2/15/2018	2018-210958	NMC1166750	NV101564433
62	D#111	2/15/2018	2018-210959	NMC1166751	NV101564434
63	PAL-4	4/21/2018	2018-212156	NMC1173913	NV101784477
64	PAL-5	4/21/2018	2018-212157	NMC1173914	NV101784478
65	PAL-41	4/21/2018	2018-212158	NMC1173915	NV101784479
66	PAL-42	4/21/2018	2018-212159	NMC1173916	NV101784480
67	PAL-53	4/21/2018	2018-212160	NMC1173917	NV101784481
68	PAL-55	4/21/2018	2018-212161	NMC1173918	NV101784482
69	PAL-56	4/21/2018	2018-212162	NMC1173919	NV101784483
70	PAL-57	4/21/2018	2018-212163	NMC1173920	NV101784484
71	PAL-59	4/21/2018	2018-212164	NMC1173921	NV101784485
72	PAL-61	4/21/2018	2018-212165	NMC1173922	NV101784486
73	PAL-63	4/21/2018	2018-212166	NMC1173923	NV101784487
74	PAL-65	4/21/2018	2018-212167	NMC1173924	NV101784488
75	PAL-67	4/21/2018	2018-212168	NMC1173925	NV101784489

C-14

			County	BLM
#	Claim Name	Location Date	Document No.	Legacy NMC No.	Serial No.
76	PAL-69	4/21/2018	2018-212169	NMC1173926	NV101784490
77	PAL-70	4/21/2018	2018-212170	NMC1173927	NV101784491
78	PAL-71	4/21/2018	2018-212171	NMC1173928	NV101784492
79	PAL-72	4/21/2018	2018-212172	NMC1173929	NV101784493
80	SM 1	9/9/2020	2020-221824	NMC1208982	NV101921057
81	SM 2	9/9/2020	2020-221825	NMC1208983	NV101921058
82	SM 3	9/9/2020	2020-221826	NMC1208984	NV101921059
83	SM 4	9/9/2020	2020-221827	NMC1208985	NV101921060
84	SM 5	9/9/2020	2020-221828	NMC1208986	NV101921061
85	SM 6	9/9/2020	2020-221829	NMC1208987	NV101921062
86	SM 7	9/9/2020	2020-221830	NMC1208988	NV101921063
87	SM 8	9/9/2020	2020-221831	NMC1208989	NV101921064
88	SM 9	9/9/2020	2020-221832	NMC1208990	NV101921065
89	SM 10	9/9/2020	2020-221833	NMC1208991	NV101921066
90	SM 11	9/9/2020	2020-221834	NMC1208992	NV101921067
91	SM 12	9/9/2020	2020-221835	NMC1208993	NV101921068
92	SM 13	9/9/2020	2020-221836	NMC1208994	NV101921069
93	SM 14	9/9/2020	2020-221837	NMC1208995	NV101921070
94	SM 15	9/9/2020	2020-221838	NMC1208996	NV101921071
95	SM 16	9/9/2020	2020-221839	NMC1208997	NV101921072
96	SM 17	9/9/2020	2020-221840	NMC1208998	NV101921073
97	SM 18	9/9/2020	2020-221841	NMC1208999	NV101921074
98	SM 19	9/9/2020	2020-221842	NMC1209000	NV101921075
99	SM 20	9/9/2020	2020-221843	NMC1209001	NV101921076
100	SM 21	9/9/2020	2020-221844	NMC1209002	NV101921512
101	SM 22	9/9/2020	2020-221845	NMC1209003	NV101921513
102	SM 23	9/9/2020	2020-221846	NMC1209004	NV101921514
103	SM 24	9/9/2020	2020-221847	NMC1209005	NV101921515
104	SM 25	9/9/2020	2020-221848	NMC1209006	NV101921516
105	SM 26	9/9/2020	2020-221849	NMC1209007	NV101921517
106	SM 27	9/9/2020	2020-221850	NMC1209008	NV101921518
107	SM 28	9/9/2020	2020-221851	NMC1209009	NV101921519
108	SM 29	9/9/2020	2020-221852	NMC1209010	NV101921520
109	SM 30	9/9/2020	2020-221853	NMC1209011	NV101921521
110	SM 31	9/9/2020	2020-221854	NMC1209012	NV101921522
111	SM 32	9/9/2020	2020-221855	NMC1209013	NV101921523
112	SM 33	9/9/2020	2020-221856	NMC1209014	NV101921524
113	SM 34	9/9/2020	2020-221857	NMC1209015	NV101921525
114	SM 35	9/9/2020	2020-221858	NMC1209016	NV101921526
115	SM 36	9/9/2020	2020-221859	NMC1209017	NV101921527
116	SM 37	9/9/2020	2020-221860	NMC1209018	NV101921528

Total of one hundred and sixteen (116) unpatented lode mining claims.

C-15

EX-99.01

Exhibit 99.01

316 California Avenue, Suite 543 Reno, NV 89509 Tel : 888 909-5548 Fax : 888 909-1033

Trading Symbol OTCMKTS: NGLD

NEWS RELEASE

NEVADA CANYON SIGNS PALMETTO ROYALTY AGREEMENT

Reno, Nevada. January 31, 2022, Nevada Canyon Gold Corp. (OTC Markets: NGLD) (The “Company” or “Nevada Canyon”) is pleased to announce it has signed, through its wholly owned subsidiary, Nevada Canyon, LLC, a binding Purchase Agreement (the “Agreement”) with Smooth Rock Ventures, LLC, a wholly owned subsidiary of Smooth Rock Ventures Corp. (“Smooth Rock”), to acquire a 2.0 per-cent net smelter returns royalty (NSR) on the Palmetto Project (the “Project”), located in Esmeralda County, Nevada.

Smooth Rock owns a 100% undivided interest in the Palmetto Project, consisting of 116 unpatented mining claims totalling 2,217 acres located in Esmeralda County, Nevada, within the southern portion of the Walker Lane gold trend.

The Palmetto Gold Project has had significant exploration work completed to date by Newmont Gold, Phelps Dodge Corp, Cambior Inc., Romarco Minerals, Curran Corp., Amselco Minerals, Escape Gold Group Inc., and most recently by ML Gold Corp. To date, 173 drill holes totaling 43,940 meters have been completed on several targets within the Project. The initial “Discovery Hole” was drilled by Phelps Dodge in 1988, and bonanza gold-silver veins were subsequently drilled by Romarco Minerals in 1997-2002.

Smooth Rock engaged WSP Canada Inc. to complete a current resource estimation of the Palmetto Project (see Smooth Rock news release dated October 21, 2020), using drill data up to October 2017 and applying certain economic constraints. The current mineral resource statement was updated by WSP to reflect a change in gold pricing and an adjustment in the mining costs in the generation of the constraining pit shells. The model and estimation were reviewed, repeated, and prepared by WSP’s author and independent qualified person, Todd McCracken, P.Geo. (Palmetto Resource Estimation and Technical Report, October 20, 2020).

The below table summarizes the pit constrained resource estimation at the 0.15 g/t gold cut-off and remaining underground resource estimation at the 2.0 g/t gold cut-off.

Classification	Tonnes (000’s)		Au g/t		Ag g/t		Au oz.		Ag oz.
Inferred (Pit)		9,397		0.93		6.38		281,581		1,926,652
Inferred (U/G)		170		2.76		17.51		11,114		95,926
Total Inferred		9,567		0.96		6.58		296,695		2,022,578

The above mineral resource estimation was completed using NI 43-101 standards of practice and classified as an inferred resource. The drilling by the previous owners of the Project form the basis for the resource estimation. Pit shells were constrained using USD$1,500/ounce gold price and USD$2/tonne mining cost and USD$5/tonnes processed (heap leach), 80% gold recovery and 52% silver recovery.

There are several additional mineralized zones hosting significant grades within close proximity to the inferred resource zones. These zones have yet to be included in the resource estimate due to drilling density.

Smooth Rock sees these areas having immediate potential to significantly increase the overall resource on the Palmetto gold Project by increasing the drilling density between mineralized shells. Evidence suggests that there is significant potential to expand the resource in multiple directions.

Nevada Canyon will acquire a 2.0-per-cent NSR on the Palmetto Project for total proceeds of USD$350,000 cash. The agreement is subject to final documentation and closing is expected to be on or before February 7, 2022.

Mr. Alan Day is a member of the board of directors of both Nevada Canyon and Smooth Rock, therefore he has abstained from voting on approval of the above transaction for both Companies.

“This agreement adds another outstanding Nevada royalty with tremendous upside to our portfolio,” said Nevada Canyon President and CEO, Jeffrey Cocks, “Palmetto gives us a second royalty interest and, as with all Nevada Canyon royalty purchases going forward, offers excellent leverage to gold prices.

ON BEHALF OF THE BOARD

“Jeffrey A. Cocks”

Jeffrey A. Cocks

President & CEO

FOR FURTHER INFORMATION PLEASE CONTACT: Nevada Canyon Gold Corp.

(TEL)- (888) 909-5548, (FAX)-(888) 909-1033

Email: info@nevadacanyongold.com

Website: www. nevadacanyongold.com

Forward-Looking Statements

The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words “may,” “will,” “should,” “plans,” “expects,” “anticipates,” “continue,” “estimate,” “project,” “intend,” and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of exploration, delays in completing various engineering and exploration programs, Specifically, forward-looking statements in this news release include statements with respect to the potential mineralization and geological merits of the Palmeto Project and various other factors beyond the Nevada Canyon Gold Corp.’s control. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events except as required by applicable securities legislation. Nevada Canyon Gold Corp. is neither an underwriter as the term is defined in Section 2(a)(11) of the Securities Act of 1933, nor an investment company pursuant to the Investment Company Act of 1940. Nevada Canyon Gold Corp. is not an investment adviser pursuant to the Investment Advisers Act of 1940. Nevada Canyon Gold Corp. is not registered with FINRA or SIPC. Investors are advised to carefully review the reports and documents that Nevada Canyon Gold Corp. files from time to time with the SEC, including its Annual Form 10-K for the fiscal year ended December 31, 2020, Quarterly and Current Reports.

XML

Cover	Jan. 27, 2022
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Jan. 27, 2022
Entity File Number	000-55600
Entity Registrant Name	NEVADA CANYON GOLD CORP.
Entity Central Index Key	0001605481
Entity Tax Identification Number	46-5152859
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	316 California Ave.
Entity Address, Address Line Two	Suite 543
Entity Address, City or Town	Reno
Entity Address, State or Province	NV
Entity Address, Postal Zip Code	89509
City Area Code	888
Local Phone Number	909-5548
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, $0.0001 par value
Trading Symbol	NGLD