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LEASE AGREEMENT <br />This lease agreement (the "Lease ") is made and entered into this I day of <br />January, 2015 (the "Effective Date', by and between Robert M. Denis and Verna A. - <br />Bauserman [a.k.a. Gattone], hereinafter referred to collectively as "Landlord," and the <br />Cripple Creek & Victor Gold Mining Company, hereinafter referred to as "Tenant." <br />Landlord and Tenant may hereinafter be collectively referred to as the "Parties." <br />In consideration of the covenants and agreements hereinafter contained, to be kept <br />and performed by the respective parties, the Landlord does hereby grant to the Tenant a <br />lease on the following described property (the "Premises': <br />Legal Description: 18 -15 -69 8068 PT ELDORADO LYING N OF THE MARY A MS; <br />More commonly known as El Dorado 8068, Teller County, Colorado; <br />Assessor Account Number: N0038630. <br />Landlord leases the Premises to Tenant together with all of the other lights, privileges, <br />rights of way, and easements thereto incident or appurtenant. <br />LEASE <br />1. This lease shall commence on the Effective Date and continue in effect <br />until it expires at 11:59 P.M., Denver, Colorado time on the 31st day of December, 2015 <br />(the "Lease'Terne ). <br />2. The Tenant agrees to pay the Landlord as rent of the demised Premises the <br />sum of 4M with such payment to be structured as follows. An' initial payment of <br />W shall be delivered on or before the "Effective Date." Thereafter, payments of <br />all be made on or before the first day of each successive month, beginning with <br />February 1, 2015, through the end of the term of this Lease. Each payment shall be <br />mailed or otherwise delivered to the Landlord at 1201 Doyle Place, Colorado Springs, <br />CO 80915 or such other location as the Landlord directs. Funds may be sent to 5 Star <br />Bank Direct Deposit, Account Numbe Routing Number: <br />3. Tenant hereby acknowledges that it has received the above - described <br />Premises, and the personal property located therein, if any, in good order and repair, and <br />will, at the expiration of the term of this lease, surrender and deliver up possession of said <br />Premises in a condition of order and repair as good as the condition the Premises was in <br />when it was received on the Effective Date, ordinary wear and tear excepted. The Tenant <br />further agrees to maintain the Premises and, prior to relinquishing possession of the <br />Premises to Landlord at the conclusion of this Lease, to remove from the grounds of the <br />Premises all items, devices, mine tailings, and refuse placed on the Premises by the <br />Tenant during the term of this Lease, so as to leave the Premises in a state as clean and <br />sanitary as the state in which the Premises was received on the Effective Date. <br />Page 1 of 4 <br />