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• I IIIIII II II.~ 681808 8 B4 23P Boulder Counfy lerk, CO H R 71.BB 0 B.BB Section 1 -Grant of RiEhts. (a) Grant of Develooment Riehts. Grantor hereby grants and conveys to Grantee the exclusive right to (i) develop the dump rock, tailings and/or other rock products (collectively, the "Surface Resources") on patented and unpatented mining claims located in the Gold Hill and Central Mining Districts, Boulder County, Colorado, (collectively, the "Claims," as described on Exhibit A) and (ii) use the surface of and all personal and/or real property rights associated with the Claims to develop the Surface Resources, including without limitation, water rights associated with the Claims. Grantee may develop the Surface Resources using the methods and processes selected by Grantee in its sole discretion. Record title ownership of the Claims and Surface Resources shall remain in GT and/or in the GT Members; Grantee shall only have the exclusive contractual right to develop the Surface Resources. Subject to the Agreement, proceeds from development of the Surface Resources and the actual development of the Surface Resources shall belong to Grantee, and shall be handled exclusively by Grantee. (b) Grant of Access. Grantor hereby grants and conveys to Grantee the exclusive right to enter upon the Claims for purposes of conducting exploration, development, removal, transportation, processing and reclamation work related to the Surface Resources. Such work includes the right and privilege to do any and all things which Grantee shall deem necessary or desirable, in its sole discretion, to develop the Surface Resources in the manner deemed appropriate by Grantee, including without limitation, (i) the use of all easements and all tights of way for ingress and egress to and from the Claims to which Grantor or the GT Members may be entitled; (ii) the right to enter upon and to use the Claims for the purpose of defirting the extent and quality of all minerals contained in the Surface Resources; (iii) all rights necessary for developing, removing, transporting, stockpiling, milling, processing, removing, shipping and marketing such minerals and mineral deposits contained in the Surface Resources by whatever methods Grantee may deem appropriate; (iv) the right to dispose of and deposit on the Claims, ore, waste materials and overburden from the Surface Resources; (v) the right to construct and use buildings, roads, power and communication lines, tailings, ponds and other improvements reasonably required by Grantee for the full enjoyment of its rights to remove, transport, process and develop the Surface Resources; (vi) the right to use tunnels, adits or workings now located in, on or under the Claims as maybe reasonably necessary to the tights or privileges of Grantee hereunder; (vii) the right to use so much of the surface of the Claims and all easements and rights of way appurtenant thereto in such manner as maybe reasonably necessary, convenient or suitable for or incidental to any of the rights or privileges of Grantee hereunder or otherwise reasonably necessary to effect the purpose of this Conveyance; and (viii) to the extent reasonably required for on site operations, the right to use all water and water rights appurtenant to the Claims to which Grantor may be entitled including the right to appropriate and adjudicate water from underground mine workings on the Claims which must be done in the name of Grantor. (c) Surface Resources. The Surface Resources shall be deemed to include all the dump rock, tailings and all other previously mined ore or rock located on the Claims, and all such materials located on patented, or unpatented mining claims or other real property now -2-