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July 2020 DE--RO01—I91,NI70250 <br /> URANIUM MINING LEASE. <br /> UNITED STATES DEPARTMENT OF ENERGY" <br /> THIS 1.11-.ASF AGREEMENT,effective as of this 611i day of July,2020,by and between the UNITED STATES <br /> OF AMERICA(hereinafter"Government"),acting by and through the UNTIED STATES DEPARTMENT OF <br /> ENERGY(hereinafter"DOE"),whose principal place of business for the purpose of this lease is 2597 Legacy <br /> Way,Grand Junction,Colorado,81503 and Cotter Corporation whose principal place of business for the purpose <br /> of this lease is 7800 East Dorado Place,Suite 210,Greenwood Village,Colorado 80111 (hereinafter <br /> "Lessee")- WHEREAS,DOE represents that it is in possession of certain Government-owned uranium mining <br /> rights in Montrose County,Colorado.more particularly described as Lease Tract C-CM-25 in Appendix A. which <br /> is attached hereto and incorporated herein(the"Property");and, <br /> WHEREAS,this Lease is authorized by Section 67 of the Atomic Energy Act of 1954,as amended and is issued <br /> pursuant to the provisions of DOE's regulations governing the issuance of(eases for mining deposits of uranium in <br /> lands held by DOE(Title 10 Code of Federul Regndations Section 760.1 (10 C.F.R. § 760.1). <br /> NOW, THEREFORE, in consideration of the mutual covenants herein,the parties do hereby agree as follows: <br /> I. GRANT OF LEASE. <br /> For considerations hereinafter stated and performance by the Lessee of the terms and conditions <br /> hereinafter provided,DOE does hereby-lease the Property("Property"),as described in Appendix A,which is <br /> attached hereto and incorporated herein, to the Lessee,for the purposes of exploring for.developing,mining,and <br /> removing deposits of uranium,vanadium.and associated minerals,with reasonable due diligence,skill and care as <br /> required to achieve and maintain production of uranium,vanadium and associated minerals at rates consistent with <br /> good and safe mining practices and with market conditions.The rights hereby granted are limited to exploration. <br /> development,mining,and removal of ore from within the vertical planes of the boundary lines of the Property,and <br /> the Lessee shall have no right to extend its workings beyond such vertical planes. Access to the Property is not <br /> guaranteed by the Government.The Lessee shall be responsible for securing,such access with the owner. <br /> 11. TERM. This Lease shall remain in effect for a period of ten(10)years from the Effective Date.except as <br /> it may be sooner relinquished or cancelled pursuant to other provisions of this Lease.Near the end of that 10-year <br /> period, DOE will reevaluate this Lease to determine whether the Lease should continue. <br /> I <br />