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Page 5 of 11 Mining Lease- 110324 <br /> paying quantities, production royalties of 10% of the gross proceeds of all minerals sold, AMR of $10,000 <br /> per year starting in the second year of the lease, with royalties and AMR subject to review and <br /> adjustment every 5 years, an annual rental payment of $3.00 per acre, and the Greater Sage Grouse <br /> stipulation stated above. <br /> - END OF MEMORANDUM - <br /> EXHIBITS <br /> Exhibit 1: Site Photographs <br /> Exhibit 2: Property Map <br /> Exhibit 3: CPW Letter <br /> COLORADO <br /> State Land Board <br /> ` Page 5 of 5 <br /> 5.12,2016 <br />