2012-07-26_PERMIT FILE - M2012036

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Thereafter, the Company shall continue to have the right to access and enter the Property and to effect on the Property such final reseeding, restoration, repair, rehabilitation and reclamation that may be required for the Company to obtain release of any security or bond provided by the Company to secure its performance of reclamation required by its governmental permits and authorizations. Following the expiration or termination of this Lease for any reason, Lessor covenants that Lessor will not extract or allow others to extract Materials until Lessor or others effect the transfer of the Colorado Division of Reclamation, Mining and Safety permit in their names for reclamation or rehabilitation of the Property and the release of any security or bond provided by the Company to secure its performance or discharge its responsibilities. 15. Assignment. The provisions of this Lease shall extend to and be binding upon the heirs, personal representatives, successors, assigns and sub lessees of Lessor and the Company. The Company shall have the right to subcontract with others for the performance of exploration, development and mining work hereunder, subject to all terms of this Lease, but no such subcontract shall relieve the Company of its obligations to Lessor hereunder. 16. Notice. Notices of default or of cancellation or termination of this Lease and all other notices required or permitted hereunder shall be given by personal delivery or by registered or certified mail, postage prepaid, addressed to the parties as follows; If to the Company: P.O. Box 1720 Canon City, CO 81215 If to Lessor: 33979 RD 34 McClave, CO 81057 17. Mediation/Arbitration of Disputes and Other Matters. Notwithstanding anything to the contrary contained in this Lease: all disputes and other matters between or about the Lessor and the Company, and any officer, director, partner, member, shareholder, employee, agent or other representative thereof (all of whom shall collectively be deemed to be intended beneficiaries of this Section), shall be submitted first to mediation and, if not settled during mediation, then to final, binding arbitration, all in accordance with the provisions hereinafter set forth in this Section; and such disputes and other matters shall not be decided by a court of law. The disputes and other matters which are subject to mediation and/or arbitration under this Section shall include, without limitation, the following: (a) those arising under the provisions of the Lease; (b) those regarding any of the rules and regulations of a governmental or regulatory body having jurisdiction over the operations of Company pursuant to this Lease; (c) any and all controversies, disputes or claims between any of the intended beneficiaries of the Section, regardless of how the same might have arisen or on what it may Z