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the nearest competitive custom mill or other treatment facility that would accept said Ore, <br /> Concentrates or other first salable products. <br /> "Minerals"means all minerals and mineral substances of whatsoever nature and character <br /> (other than coal,oil and gas)including,without limitation,precious and base metals,now known to <br /> exist or that may be subsequently discovered or subsequently classified as minerals or mineral <br /> substances, irrespective of whether at the time of the execution of this Lease any said mineral or <br /> substance was considered in connection with the Premises. <br /> "Ore"means rock, sediments,and other materials containing Minerals situated on or in the <br /> Premises,mined or extracted by or for Lessee that Lessee,in its sole discretion,deems valuable for its <br /> mineral content. <br /> "Tailings" shall mean the reject material and residue of Ore and Minerals after processing not <br /> incorporated in the processed form of Ore and Minerals. <br /> "Term" shall mean the initial term of this Lease and any extension and renewal thereof. <br /> "Waste Material" shall mean material mined or extracted by or for Lessee that Lessee,in its <br /> sole discretion,determines not to be valuable for its mineral content. <br /> 3. RIGHTS OF LESSEE. Lessor grants unto Lessee the following exclusive rights and <br /> privileges on the Premises: <br /> (a) The right and privilege during the Term of this Lease to enter upon,take possession of, <br /> prospect,explore for,test,drill,dig,develop and mine by any methods now known or hereinafter <br /> developed,including strip mining,dredging and other surface mining methods and underground <br /> mining methods,and to extract,crush,mill,blend,concentrate,beneficiate,refine,reduce or <br /> otherwise process,and sell,or otherwise dispose of,any and all Ore,Minerals,Concentrates and other <br /> materials that may be found within or upon the Premises,and the products thereof,in such manner as <br /> Lessee, in its sole discretion,deems advisable,provided such manner complies with all applicable <br /> laws,rules and regulations and except as otherwise provided or limited herein; <br /> (b) The right to use and affect as much of the Premises,including the surface and <br /> subsurface thereof,as may be necessary or incidental to the exercise of the rights herein granted <br /> except as otherwise provided or limited herein; <br /> (c) The right of ingress and egress over,upon,under and through the Premises and other <br /> lands owned by Lessor adjacent to the Premises as may be necessary or incidental to the exercise of <br /> the rights herein granted; <br /> (d) The right to stockpile Ore,Minerals and Concentrates from the Premises on other <br /> lands owned or controlled by Lessee; <br /> Page 2 of 13 <br />