MINE LEASING AGREEMENT TO SOCIEDAD LEGAL MINERA
Exhibit
99.1
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XXXXXXX XXXXXX
NOTARY
PUBLIC
COLIPI
Nº
351 - PHONE Nº 212901
COPIAPÓ
DIGEST
No. 3452 2007
PUBLIC DEEDS
MINE
LEASING AGREEMENT
“PACIFIC
COPPER CHILE LTDA.”
TO
SOCIEDAD
LEGAL MINERA
“LA
GUANACA UNA DE LA SIERRA VICUÑA”
IN
COPIAPÓ,
Republic of Chile, on November thirteenth, two thousand and seven, before me,
XXXXXXX
XXXXXXX XXXXXX,
Regular
Notary Public of this Province, lawyer, domiciled in Copiapó, on Colipí street
number three hundred and fifty-one, there appeareth: Xx. XXXXXXX
XXXXXXXX MARCO,
Chilean, married, Civil Engineer, National Identity Card number five million
nine hundred and six thousand and seventy-nine dash one, domiciled on Van Buren
street number two hundred and eight, in Copiapó, in representation, as shall be
evidenced, of the company PACIFIC
COPPER CHILE LTDA.,
corporate person with Tax Registration Number seventy-six million eight hundred
and forty-eight thousand two hundred and sixty dash eight, having the same
domicile set forth above; and Ms. XXXXXX
DEL XXXXXX XXXXX XXXXX,
Chilean, single, teacher, National Identity Card number five million one hundred
and eighty-six thousand eight hundred and seventy-two dash two, domiciled on
Los
Carrera street, number two thousand nine hundred and fifty-two, in
representation, as shall be evidenced, of SOCIEDAD
LEGAL MINERA “LA GUANACA UNA DE LA SIERRA VICUÑA”
in the
province of Chañaral, Atacama Region; both appearing parties being of legal age,
and having evidenced their identities through the referred Identity Cards do
hereby state: FIRST:
That
the legal mining company Sociedad Legal Minera LA GUANACA UNA DE LA SIERRA
VICUÑA is the owner of the mining properties denominated “La Guanaca Una al
Cincuenta” located in Sierra Vicuña, Province of Chañaral, Atacama Region, the
identification of which is recorded in the respective survey record registered
on page two hundred and sixteen, reverse, number twenty-four in the Registry
of
Properties of the Registrar of Mines of Chañaral, for year nineteen sixty-eight.
SECOND:
The
mining company Sociedad Legal Minera “LA GUANACA UNA DE LA SIERRA VICUÑA”,
represented by Xx. Xxxxxx Xxxxx Xxxxx, does hereby grant the company PACIFIC
COPPER CHILE LTDA., represented by Xx. Xxxxxxx Xxxxxxxx Xxxxx, who hereby
accepts, the right to work and explore all or some of the mining properties
bearing gold, copper, limestone, and other mineral substances, denominated
“LA
GUANACA UNO AL CINCUENTA” identified above. In the use of the right to work the
mines granted to PACIFIC COPPER CHILE LTDA., it shall be understood that PACIFIC
COPPER CHILE LTDA. shall have the right to explore, research, survey and work
said mines, to refine, concentrate, extract and become the owner of the minerals
found therein, and in general, to enter into or execute any acts and contracts
which may be necessary, useful or advisable for such ends. THIRD:
Pacific
Copper Chile Ltda. shall have the right to sub-lease, transfer, or assign,
in
whole or in part, this agreement to any third parties, natural or corporate,
through public deed which shall be noted on the margin of the registration
of
this agreement. FOURTH:
Pacific
Copper Chile Ltda. shall pay to the legal mining company “La Guanaca Uno de la
Sierra Vicuña” a monthly lease amounting to two
thousand Dollars of the United States of America,
payable
within the first five days of each month. FIFTH:
Failure
to make or simple delay in such payment for two consecutive months of the agreed
upon lease, shall entitle the Lessor to require the termination of this
agreement. SIXTH:
The
Lessee shall take all actions required for mining protection and safety in
the
mining works performed thereby, and shall comply with all the laws, rules,
and
regulations relating to environmental protection, and in general, with all
the
laws, rules and regulations governing the production, working, surveying, and
transportation activities performed thereby in the leased mining property.
SEVENTH:
The
Lessee shall timely pay any required mining patents or licenses on the leased
property, and deliver copy of the respective vouchers to the Lessor.
EIGHTH:
This
Agreement shall be in effect for a term of five years, as from the date of
this
deed. This term shall be deemed tacitly and automatically renewed for equal
and
successive periods if none of the parties shall give notice of its intention
to
terminate this Agreement, at least two months in advance of the expiration
of
such term or any renewal thereof, through registered letter sent to the other
party, through a Notary Public. NINTH:
Any
improvements made by the Lessee in the mining properties and not removed from
the surface occupied thereby within a term of six months counted as from the
date of termination of this Agreement shall remain to the benefit of the Lessor,
without any costs thereto. TENTH:
It is
specially placed on record that the Lessee hereby makes an advance payment
of
the lease amount for the two first moths, and the Lessor hereby receives such
advance payment for two-months of lease at its entire satisfaction. ELEVENTH:
For all
legal purposes derived from this Agreement, the parties set their domicile
in
the city of Copiapó. TWELFTH:
Any
difficulties arising between the parties in respect of the obligation or
interpretation, compliance, non-compliance, infringement or termination of
this
Agreement, during the period of effectiveness or termination and dissolution
hereof, shall be subject to the consideration of the solicitor, Xx.
Xxxxx Xxxxxxx Xxxxxx,
who
shall resolve without any form of trial and at a single instance, in the
capacity as arbitrating arbitrator and as friendly arranger, the parties hereby
waiving any legal recourses they may have against such decisions, including
the
recourses of appeal for annulment as to the form and as to the merits of the
case. In the event Xx. Xxxxx Xxxxx xx Xxxxxx shall be unable or unwilling to
perform such duties, the arbitrator shall be appointed through ordinary legal
proceedings. THIRTEENTH:
The
Lessor hereby constitutes a prohibition to encumber and/or dispose of the mining
properties leased to the Lessee throughout the term of effectiveness of this
Agreement. FOURTEENTH:
Bearer
of authorized copy of this deed is hereby authorized to require and sign any
notations, registrations and sub-registrations that may be relevant before
the
Registrar of Mines of Chañaral.
FIFTEENTH:
The
parties hereby grant special power of attorney to Xx.
Xxxx Xxxxxx Bondi Xxxxx xx Xxxxxx
for him
to clarify or correct any actual errors in this deed in order to obtain the
appropriate registrations in the registries of properties. LEGAL
CAPACITIES:
The
legal capacity of Ms.
Xxxxxx del Xxxxxx Xxxxx Xxxxx
to act
on behalf of the company “GUANACA
UNA DE LA SIERRA VICUÑA”
is
evidenced in public deed of the Shareholders’ Meeting dated November sixteenth,
nineteen eighty-eight, executed before the Notary Public of Copiapó, Xx. Xxxx
Xxxxxxxxx Xxxxxxx. The legal capacity of Xx.
Xxxxxxx Xxxxxxxx Marco
to act
on behalf of the company PACIFIC
COPPER CHILE LTDA.
is
evidenced in public deed dated April nineteenth, two thousand and seven,
executed before the Notary Public of Copiapó, Xx. Xxxxxxx Xxxxxxx Xxxxxx, deeds
which have not been inserted as they are known to the parties and upon their
request. Minutes drawn by solicitor Xx.
Xxxx Xxxxxx Bondi Xxxxx xx Xxxxxx
and
remitted by electronic mail. In witness and upon a reading whereof the parties
have signed. Copy is delivered. Recorded in the digest under number three
thousand four hundred and fifty two, two thousand and seven. I
ATTEST.
| E. ESTEFFAN M. | R. DEL X. XXXXX S. | |
| N.I.C. Nº 5.906.079-1 | N.I.C. Nº 5.186.872-2 | |
| For: PACIFIC COPPER CHILE LTDA. | For: SLM LA GUANACA UNA DE LA | |
|
SIERRA
VICUÑA
|
XXXXXXX
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NOTARY
PUBLIC
