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• <br />• <br />Duane Smith Lease 2003: <br />'11111,111 J01111111 <br />MINING LEASE <br />WITH RIGHT OF FIRST REFUSAL <br />WHEREAS, Duane A. Smith, Trustee, Duane A. Smith Revocable Trust (hereinafter <br />"OWNER ") owns certain raining property consisting of three (3) patented lode claims, in the <br />Grand Island Mining District in Boulder County, Colorado and OWNER desires to lease such <br />property to CALMS RESOURCES COLORADO, INC., A.Nevada corporation (hereinafter <br />"CALAIS" or "LESSEE ") and assigns; and <br />• WHEREAS, a prior Mining Lease to HENDRICKS MINING CO., a Colorado <br />corporation (hereinafter "LESSEE "), has terminated and whereas CALAIS desires to lease from <br />OWNER such mining claims for THE PURPOSES ENUMERATED; <br />NOW THEREFORE, OWNER and LESSEE agree as follows: <br />I. GRANT OF LEASE <br />1.1 For and in consideration of Three Thousand Dollars ($3,000.00) and the terms, <br />conditions and covenants contained herein to be kept by LESSEE, OWNER hereby demises, lets, <br />and grants to LESSEE a lease on those three (3) patented lode claims described as follows: <br />Laramie County Lode <br />Gilpin County Lode <br />Homestead Lode <br />all located in Sections 8 and 9, Township 1 South, Range 73 West, 6th P.M., in the Grand Island <br />Mining District of Boulder, County, Colorado, together with the surface, subsurface and all <br />minerals. <br />1.2 Such lease shall be for the purpose of mining by surface, underground or any <br />other suitable methods for ores, minerals, rock, or other materials, and the right to conduct any <br />other related activity thereto, underground or on the surface, including but not limited to milling, <br />processing, excavation, prospecting, exploration, seismic or geochemical investigation, drilling, <br />s: lclientlhendricksbalaisgenlsmith mining lease.rtf <br />M.S. 13471 <br />M.S. 12933 <br />M.S. 13471 <br />1 <br />Page 139 <br />Hill it (I') 2 526 � ,60.14. I <br />R 91.00 D 0.00 <br />