Mineral Claims. The Young American property is a block of 4 contiguous unpatented claims which were originally located in 1886. In 2008 American Mining Corporation of Osburn, Idaho staked the four original unpatented claims. These claims are managed by the Bureau of Land Management (BLM) of the United States Department of the Interior. The four claims are located at approximately SW¼ Section 28, and NW¼ Section 33. Both sections T38N and R33E are located in Sxxxxxx County, Washington. The claims are located about 15 miles north of the town of Kettle Falls, Washington. Access to the property is north from Kettle Falls along Highway 25, then by way of a half mile of gravel road that crosses private property. APPENDIX “B” OPERATOR AGREEMENT (Attached Hereto) OPERATOR AGREEMENT between KRC EXPLORATION LLC. And ____________________________ YAM CLAIM GROUP SXXXXXXX COUNTY THE STATE OF WASHINGTON 14 TABLE OF CONTENTS DEFINITIONS 3 REPRESENTATIONS AND WARRANTIES 4 OPERATOR 5 POWER, DUTIES AND OBLIGATIONS OF OPERATOR 6 PROGRAMS 8 FORCE MAJEURE 8 NOTICE 8 WAIVER 8 FURTHER ASSURANCES 9 USE OF NAME 9 ENTIRE AGREEMENT 9 AMENDMENT 9 TIME 9 RULE AGAINST PERPETUITIES 9 ENUREMENT 9 GOVERNING LAW 9 NUMBER AND GENDER 10 HEADINGS 10 TIME OF THE ESSENCE 10 OPERATOR AGREEMENT THIS AGREEMENT made as of the_____________ day of________________ , 2010. BETWEEN: KRC EXPLORATION LLC., a limited liability corporation, organized under the laws of the State of Nevada and having offices located at 50 Xxxx Xxxxxxx Xxxxxx, Xxxxx 000, Xxxx, Xxxxxx.(xxxxxxxxx “KRC”) OF THE FIRST PART AND: __________________________________________________________________________________________________________________________________________________________________________ OF THE SECOND PART
Mineral Claims. Item No. Recorded Holder Tenure No. Claim Name 1. Canarc Resource Corp (33.33%) 252966 CAL #2 Bxxxxxx Gold Inc. 66.67
Mineral Claims. TENURE NUMBER CLAIM NAME MAP NUMBER STATUS MINING DIVISION -------------------------------------------------------------------------------- 201415 #W 56 092F12E Good Standing 2007.12.22 01 Alberni -------------------------------------------------------------------------------- 201491 W-87 092F12E Good Standing 2007.11.08 01 Alberni -------------------------------------------------------------------------------- 201493 W-116 FR. 092F12E Good Standing 2007.08.13 01 Alberni -------------------------------------------------------------------------------- 201492 W-100 092F12E Good Standing 2007.06.13 01 Alberni -------------------------------------------------------------------------------- 201366 W. NO. 3
Mineral Claims. All interests in material Mineral Claims, concessions, exploitation or extraction rights or similar rights (“Mineral Claims”) that are held by the Company or any of the Subsidiaries are in good standing, are valid and enforceable, are free and clear of any Encumbrances other than Permitted Encumbrances, and no royalty is payable in respect of any of them, except as disclosed in the Public Disclosure Documents. Except as disclosed in the Public Disclosure Documents, no other material property rights are necessary for the conduct of the Company’s business as currently conducted and there are no material restrictions on the ability of the Company or its Subsidiaries to use, transfer or otherwise exploit any such property rights. The Mineral Claims of the Company and its Subsidiaries cover the properties required by the Company for the purposes described in the Public Disclosure Documents and no other property rights are necessary for the conduct of the Company’s business as currently conducted. No dispute between the Company or its Subsidiaries and any local, native or indigenous group exists or, to the knowledge of the Company, is threatened or imminent with respect to the Company Property or the Company’s exploration activities that could reasonably be expected to have a Material Adverse Effect.
Mineral Claims
