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<br />~IiBLEASE AGREEMENT <br />This AGREEMENT is entered into as of the 1st day of May, 1986 by and between <br />MABLE COLLATE, ANNABELLE WOLFF, MRS. KENNEDY ROWE, DICK CRARY, EDITH CRESS AND <br />JAMES FRANK (the "lessors`), c/o Mable Colgate, 601 Griffin, Canon City, <br />Colorado 81212 and BILL TEZAK (the 'Sublessee"), whose address is c/o Colorado <br />Quarries, P. 0. Box 1389, Canon City, Colorado 81212. <br />The lands subject <br />unpatented mining <br />Prime Meridian in <br />and are described <br />to this Sublease <br />claims situate in <br />the Ha rdscrabble <br />is follows, to-wit: <br />Patented Claims <br />Highland Boy Lode <br />Fleetwood Lode <br />,.i~~ u.,..: ~:,+~ <br />Calumet .Lode <br />Victor Lode <br />Silver Cliff N/2 <br />Sliver Cliff S/2 <br />Unoatented Claims <br />Goodwill Lode <br />Blackstone Lade <br />Sandy lode <br />Crater Lode <br />Sharon #1 Player <br />comprising approximately 215 acres. more or less. <br />235 <br />294 <br />ct <br />256 <br />183 <br />92 <br />94 <br />The Premises is subject to an overall lease (the 'Lease") by and between the <br />Lessors and Thomas E. Congdon ("Congdon"), dated August 27, 1983, a Memorandum <br />of which was recorded in the Custer County records at Book 189, Pages 236-239, <br />November 3, 1983. By Deed and Assignment made as of January 1, 1964, copies <br />of which were recorded in the Custer County records July 24, 1x84 at Book 152, <br />Pages 408-416, Congdon deeded and assigned all of his right, title and <br />interest in the Lease to Hardscrabtle Partners Ltd., (the "Lessee"), a <br />Colorado limited partnership. <br />Items of concern for this Sublease are as follows: <br />This Sublease is subject to the terms and conditions of the overall Lease <br />and must be ratified by Lessee in order for the Sublease to become <br />effective. Operations contemplated under this Sublease must not interfere <br />with any mining or exploration activities undertaken by Lessee. Sublessee <br />agrees that Lessee may terminate this Sublease effective three months <br />after receipt by Sublessee of written notice from Lessee to Sublessee of <br />such termination. In the event of such notice, Sublessee shall within <br />(ths 'Premises") consist of patented and <br />Township 22 South, Range 72 West. Sixth <br />Mining Disthict, Custer County, Co~iorado <br />Mineral Survey No. <br />Page 12 <br />