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TEL No. Mao i2, i S':i6r.04 <br />• <br />>v~, 433 ~~.~ 4Z5 <br />effective date hereof the exclusive and irrevocable right and <br />ption to acquire from Optionor fee title to the Subject Lands, <br />ineral rights (except oil and gas), and water tights for the <br />urchase price set therein. This option may be extended for one <br />dditional one year period by Optionee. <br />3. This Exploration and Purchase Option Agreement <br />(short form) has been entered into for the sole purpose of giving <br />notice pursuant to the laws of the State of Colorado of the <br />existence of the Exploration and Purchase Option Agreement <br />entered Snto effective as of this date hereof between the parties <br />her®to covering the Subject Lands, and all rights and obligations <br />of Optionor and Optionee pertaining to the Subject Lands are <br />governed by the terms and conditiens contained in said <br />Exploration and Purchase Option Agreement. <br />IN WITNESS WHEREOF, the parties have executed this <br />Lease Agreement in duplicate effective the date first above <br />written. <br />TIONORS: / <br />~~ , ~ ~ ~ <br />-_1` ; i <br />T omas O. Sra ury ~! <br /> <br />