ELEVENTH AMENDMENT TO CAMPBELL/SIMPSON TONKIN SPRINGS VENTURE LIMITED PARTNERSHIP TONKIN MINERAL LEASE

Exhibit 10.8

ELEVENTH AMENDMENT TO XXXXXXXX/XXXXXXX XXXXXX SPRINGS
VENTURE LIMITED PARTNERSHIP TONKIN MINERAL LEASE

This Amendment Number Eleven (“Amendment”), dated this 28 day of June, 1993 (“Effective Date”), is made to that certain Tonkin Mineral Lease, dated January 1, 1986 (the “Lease”) between XXXX X. XXXXXXXX, a single man, and XXXXXX X. XXXXXXX and XXXX X. XXXXXXX, husband and wife (collectively, “Lessor”); TONKIN SPRINGS VENTURE LIMITED PARTNERSHIP (the “Lessee”); and U.S. GOLD CORPORATION (“U.S. Gold”).

RECITALS

A. The United States Congress has amended the General Mining Law of 1872 to replace the assessment work requirement for the assessment work years ending September 1, 1993 and September 1, 1994, with a claim rental fee of $200 per claim for those two years. That fee must be paid on or before August 31, 1993.

B. Articles 8 and 19 of the Lease currently require the Lessee to perform assessment work on unpatented mining claims included within the Mineral Prospect if the Lease is partially or wholly surrendered and terminated by the Lessee with respect to those claims less than 90 days prior to the end of the then-current assessment work year.

X. Xxxxxx and Lessee agree that it is to their mutual benefit to reduce the above-described 90-day period, but for the assessment work years ending in 1993 and 1994 only.

NOW, THEREFORE, in consideration of the mutual benefits to be obtained by Lessor and Lessee pursuant to this Amendment, Lessor and Lessee hereby agree as follows:

1. Notwithstanding the provisions of Articles 8 and 19 of the Lease, Lessee shall be entitled to release unpatented mining claims included within the Mineral Prospect without being obligated to perform assessment work or pay claim rental fees, but only as to the claims so released, if such release is provided in writing as provided in Article 19 of the Lease on or before midnight, Pacific Daylight Time, July 31, 1993. This paragraph 1 applies only to the assessment work years ending on September 1, 1993 and September 1, 1994.

2. U.S. Gold hereby guarantees the proper performance by Lessee of all restoration and reclamation requirements and obligations under Article 14 of the Lease.

3. Except as expressly amended above, the Lease shall remain in full force and affect in accordance with its original terms as modified by the ten (10) prior amendments.

4. Nothing herein shall be construed or is intended to release Lessee from its obligations to pay said fees and to perform assessment work that is necessary to maintain the claims, as to any unpatented mining claims not released from the Lease on or before July 31, 1993 as provided in paragraph 1 above.

IN WITNESS WHEREOF, the parties have executed this ELEVENTH (11th) AMENDMENT as if the date first above written.

		LESSOR:
		XXXX X. XXXXXXXX TRUST
		By	/s/ Xxxx X. Xxxxxxxx
			Xxxx X. Xxxxxxxx, Trustee

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		XXXXXX X. XXXXXXX
		/s/ Xxxxxx X. Xxxxxxx
		XXXX X. XXXXXXX
		/s/ Xxxx X. Xxxxxxx
		LESSEE:
		TONKIN SPRINGS GOLD MINING COMPANY, for itself and as General Partner for TONKIN SPRINGS VENTURE LIMITED PARTNERSHIP
		By	/s/ Xxxxxxx X. Xxxx
			Xxxxxxx X. Xxxx, President
		U.S. GOLD CORPORATION
		By	/s/ Xxxxxxx X. Xxxx
			Xxxxxxx X. Xxxx, President

STATE OF NEVADA	)
	) ss.
COUNTY OF WASHOE	)

Before me personally appeared Xxxx X. Xxxxxxxx, Trustee of the Xxxx X. Xxxxxxxx Trust, on this 28^th day of June, 1993, and executed the above ELEVENTH AMENDMENT TO XXXXXXXX/XXXXXXX XXXXXX SPRINGS VENTURE LIMITED PARTNERSHIP TONKIN MINERAL LEASE and acknowledged to me that he executed the same in that capacity.

Witness my hand and official seal.

My commission expires:	March 8, 1997
(seal)
		/s/ Xxxxxx X. Xxxxxx
		NOTARY PUBLIC

(SEAL) NOTARY PUBLIC
STATE OF NEVADA
County of Washoe
Xxxxxx X. Xxxxxx
My Appointment Expires Mar. 8, 1997

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STATE OF HAWAII	)
	) ss.
COUNTY OF MAUI	)

Before me personally appeared Xxxxxx X. Xxxxxxx on this 25^th day of June, 1993, and executed the above ELEVENTH AMENDMENT TO XXXXXXXX/XXXXXXX XXXXXX SPRINGS VENTURE LIMITED PARTNERSHIP TONKIN MINERAL LEASE.

Witness my hand and official seal.

My commission expires: 06/06/95

(seal)

/s/ [ILLEGIBLE]

NOTARY PUBLIC

(SEAL) Affixed

STATE OF HAWAII	)
	) ss.
COUNTY OF MAUI	)

Before me personally appeared Xxxx X. Xxxxxxx on this 25^th day of June, 1993, and executed the above ELEVENTH AMENDMENT TO XXXXXXXX/XXXXXXX XXXXXX SPRINGS VENTURE LIMITED PARTNERSHIP TONKIN MINERAL LEASE.

Witness my hand and official seal.

My commission expires: 06/06/95

(seal)

/s/ [ILLEGIBLE]

NOTARY PUBLIC

(SEAL) Affixed

STATE OF	)
	) ss.
COUNTY OF	)

Before me personally appeared Xxxxxxx X. Xxxx, President of TONKIN SPRINGS GOLD MINING COMPANY, for itself and as General Partner for TONKIN SPRINGS VENTURE LIMITED PARTNERSHIP on this 12^th day of July, 1993, and executed the above ELEVENTH AMENDMENT TO XXXXXXXX/XXXXXXX XXXXXX SPRINGS VENTURE LIMITED PARTNERSHIP TONKIN MINERAL LEASE, and acknowledged to me that he executed the same in that capacity.

Witness my hand and official seal.

My commission expires: 3-25-96

(seal)

/s/ Xxxxxx X. Xxxxxx

NOTARY PUBLIC

(SEAL Affixed)

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STATE OF	)
	) ss.
COUNTY OF	)

Before me personally appeared Xxxxxxx X. Xxxx, President of U.S. GOLD CORPORATION, on this 12^th day of July, 1993, and executed the above ELEVENTH AMENDMENT TO XXXXXXXX/XXXXXXX XXXXXX SPRINGS VENTURE LIMITED PARTNERSHIP TONKIN MINERAL LEASE, and acknowledged to me that he executed the same in that capacity.

Witness my hand and official seal.

My commission expires: 3-25-96

(seal)

/s/ Xxxxxx X. Xxxxxx

NOTARY PUBLIC

(SEAL Affixed)

BOOK 264 PAGE 024
OFFICIAL RECORDS
RECORDED AT THE REQUEST OF
Tonkin Springs
’94 JAN 27 P2:06

EUREKA COUNTY, NEVADA
M.N. REBALEATI, RECORDER
FILE NO. FEE $11.00
150214                

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