Ownership
Humboldt Range (100% of Mining Rights)
1. Cash Payment Schedule
Commencing September 2022, monthly payments of US$10,000 (all minimum cash payments paid to Owner shall be credited against any future production royalties that accrue)
2. Production Royalty
Upon commencement of production, payment of an NSR royalty on gold recovered at the following rates dependent on the average grade mined/processed:
| Less than 15.6 g/t | 2.5% |
| More than 15.6g/t to 31.1g/t | 3.75% |
| More than 31.1g/t to 62.2g/t | 5.0% |
