M I N E L E A S E
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This agreement of lease made and entered into this 6th day of April, 1998, by
and between Xxxxxxx X. Xxxxxxx, Xxxxx Xxxxxx, Xxxxxxx Xxxxxxxx and Xxxxx
Xxxxxxxxx whose principal address is 00000 Xxxxx Xxxxxx Xxxxxxx, Xxxxxx Xxxxxx,
Xxxxxxxxxx, 00000 (Lessor) and The Summa Metals Corporation whose principal
address is 00000 Xxxxx Xxxxxx Xxxxxxx, Xxxxxx Xxxxxx, Xxxxxxxxxx, 00000.
Whereas: Lessor has the right and title to certain property, and;
Whereas: Lessee desires to lease said premises, and;
Therefor: the parties hereto agree as follows:
That the Lessor for and in consideration of one hundred dollars, cash in hand
paid, receipt of which is hereby acknowledged, and of the covenants and
agreements hereinafter performed, does grant, convey, demise and let exclusively
unto the said Lesee that certain tract of land situate in the Count of Inyo,
State of California, further described as follows:
CLAIM NAME CAMC NUMBER LOCATION
Deep Gold 273074 4-1-98
for the sole purpose of exploring, operating and mining precious and other
minerals and to sell the products thereof. Lessee shall perform or have
performed a minimum of forty (40) man-hours of constructive work on the claim
per year, which may be accumulated over a period of two years to total 80
man-hours of five days each in a two year period.
The Lessee agrees to keep said premises free and clear of all costs, liens and
encumbrances done, made or suffered by permit, the Lessor to place and maintain
in a conspicuous place upon said premises as such shall be lawfully necessary to
protect the Lessor against such claims.
It is agreed that this lease shall remain in force for a term of twenty years
from this date, and may be extended for twenty years if all above conditions
have been met.
Witness our hand(s) the day and year first above written:
/s/ Xxxxxxx Xxxxxxx /s/ Xxxxxxx Xxxxxxxx
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Xxxxxxx Xxxxxxx Xxxxxxx Xxxxxxxx
/s/ Xxxxx Xxxxxxxxx /s/ Xxxxx Xxxxxx
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Xxxxx Xxxxxxxxx Xxxxx Xxxxxx
/s/ Xxxxxxx X. Xxxxxxxx
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The Summa Metals Corporation, Lessee
Xxxxxxx Xxxxxxxx,
Ex. V.P, CFO
