2010-03-16_REVISION - M1981185 (24)

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• MINING LEASE This MINING LEASE ( "Lease ") is made and entered into and shall be effective as of the First day of January, 2007 (the "effective date "), by and between JAMES M CLEMENTS, an individual, and WILDCAT MINING CORPORATION, a Nevada corporation (the "Lessee "). RECITALS A. The Lessor owns and is in possession of the patented mining claims, improvements, equipment and other property described in Schedules 1 and 2, attached hereto and made a part hereof and such property, as well as any other lands or mining claims which it owns or controls in the California Mining District, La Plata County, Colorado within the boundaries of the Mutual Area of Interest as hereinafter defined, are collectively referred to herein as the "Mining Properties ". B. Lessee desires to lease the Mining Properties in order to explore develop and mine the same and Lessor is willing to grant a lease covering the Mining Properties under the terms and conditions hereinafter set forth. IN CONSIDERATION of the premises and of the mutual covenants hereinafter set forth and other good and valuable consideration, the receipt and sufficiency of which are • hereby acknowledged, the parties hereto agree as follows: I. Lease 1.1 Lease Lessor hereby leases the Mining Properties to Lessee for the purpose of exploring, prospecting, developing, mining and marketing ore, materials, and minerals of all kinds from the Mining Properties, using underground, open pit, strip, heap leach, or any other method of extraction, together with all mines, minerals, lodes, veins, fixtures, improvements and facilities on or about such Mining Properties and all easements, licenses, water and water rights and other rights and privileges owned by the Lessor in connection with exploration, development and mining of any of said Mining Properties, and access to or egress from any of said Mining Properties, with the right to use the Mining Properties and the workings therein for all uses and purposes necessary or convenient to Lessee's operations in the Mining Properties and in any adjacent properties, provided that it is a lessee or otherwise an operator of such adjoining property. 1.2 Term This Mining Lease shall commence on the effective date and shall continue for a period of ten (10) years ending on Decemeber 31, 2016 (the "Primary Term ") and so long thereafter as mining, production and/or development are being conducted on a continuous basis, unless terminated as hereinafter provided. It shall be considered that such operations are continuous unless and until after the end of the primary term, a period of three hundred sixty five (365) consecutive days elapses during which no mining, production and/or development is conducted, excepting periods of shut -down in the . normal course of operations and force majeure. "Development" shall mean work or March 12, 2010 Amendment M- 1981 -185 1