Common use of Exercise of the Option Clause in Contracts

Exercise of the Option. If the Optionee has paid $142,000 to the Optionor, issued 300,000 common shares to the Optionor and incurred $160,000 in exploration expenses on the Property, the Optionee shall be deemed to have exercised the Option and will have acquired an undivided 100% right, title and interest in and to the Property, subject to the Royalty Interest.

Exercise of the Option. If the Optionee has paid $142,000 30,000 to the Optionor, issued 300,000 150,000 common shares to the Optionor and incurred a minimum of $160,000 60,000 in exploration expenses on the Property, the Optionee shall be deemed to have exercised the Option and will have acquired an undivided 100% right, title and interest in and to the Property, subject to the Royalty Interest.

Exercise of the Option. If the Optionee has paid $142,000 35,000 to the Optionor, issued 300,000 common shares to the Optionor and incurred a minimum of $160,000 60,000 in exploration expenses on the Property, the Optionee shall be deemed to have exercised the Option and will have acquired an undivided 100% right, title and interest in and to the Property, subject to the Royalty Interest.

Exercise of the Option. If the Optionee has paid $142,000 300,000 to the Optionor, issued 300,000 600,000 common shares to the Optionor and incurred at least an aggregate of $160,000 150,000 in exploration expenses on the Property, the Optionee shall be deemed to have exercised the Option and will have acquired an undivided 100% right, title and interest in and to the Property, subject to the Royalty Interest.

Exercise of the Option. If the Optionee has paid $142,000 to the Optionor35,000, issued 300,000 175,000 common shares of the Optionee to the Optionor and incurred an aggregate of $160,000 120,000 in exploration expenses on the Property, the Optionee shall be deemed to have exercised the Option and will have acquired an undivided 100% right, title and interest in and to the Property, subject only to the Royalty InterestInterest reserved to the Optionor pursuant to paragraph 6 hereof.

Exercise of the Option. If the Optionee has paid $142,000 to the Optionor70,000, issued 300,000 250,000 common shares of the Optionee to the Optionor and incurred an aggregate of $160,000 130,000 in exploration expenses on the Property, the Optionee shall be deemed to have exercised the Option and will have acquired an undivided 100% right, title and interest in and to the Property, subject only to the Royalty InterestInterest reserved to the Optionor pursuant to paragraph 6 hereof.

Exercise of the Option. If the Optionee has paid $142,000 45,000 to the Optionor, issued 300,000 250,000 common shares to the Optionor and incurred a minimum of $160,000 75,000 in exploration expenses on the Property, the Optionee shall be deemed to have exercised the Option and will have acquired an undivided 100% right, title and interest in and to the Property, subject to the Underlying Agreement and Royalty Interest.

Exercise of the Option. If the Optionee has paid $142,000 90,000, issued 250,000 common shares to the Optionor, issued 300,000 common shares to the Optionor and incurred an aggregate of $160,000 380,000 in exploration expenses on the Propertyexpenses, the Optionee shall be deemed to have exercised the Option and will have acquired an undivided 100% right, title and interest in and to the Property, subject only to the Royalty InterestInterest reserved to the Optionors pursuant to paragraph 6 hereof.

Exercise of the Option. If the Optionee has paid $142,000 150,000 to the Optionor, issued 300,000 200,000 common shares to the Optionor and incurred a minimum of $160,000 200,000 in exploration expenses on the Property, the Optionee shall be deemed to have exercised the Option and will have acquired an undivided 100% right, title and interest in and to the Property, subject to the Royalty Interest.

Exercise of the Option. If the Optionee has paid $142,000 40,000 to the Optionor, Optionor and issued 300,000 150,000 common shares to the Optionor and incurred $160,000 in exploration expenses on the PropertyOptionor, the Optionee shall be deemed to have exercised the Option and will have acquired an undivided 100% right, title and interest in and to the Property, subject to the Royalty Interest.

Exercise of the Option. If the Optionee has paid $142,000 30,000 to the Optionor, issued 300,000 200,000 common shares to the Optionor and incurred a minimum of $160,000 75,000 in exploration expenses on the Property, the Optionee shall be deemed to have exercised the Option and will have acquired an undivided 100% right, title and interest in and to the Property, subject to the Royalty Interest.

Exercise of the Option. If the Optionee has paid $142,000 110,000 to the Optionor, Optionor and issued 300,000 220,000 common shares to the Optionor and incurred $160,000 in exploration expenses on the PropertyOptionor, the Optionee shall be deemed to have exercised the Option and will have acquired an undivided 100% right, title and interest in and to the Property, subject to the Royalty Interest.

Exercise of the Option. If the Optionee has paid $142,000 30,000 and issued 200,000 common shares of the Optionee to the Optionor, issued 300,000 common shares to the Optionor and incurred $160,000 in exploration expenses on the Property, the Optionee shall be deemed to have exercised the Option and will have acquired an undivided 100% right, title and interest in and to the Property, subject only to the Royalty InterestInterest reserved to the Optionor pursuant to paragraph 6 hereof.

Exercise of the Option. If the Optionee has paid $142,000 50,000 to the Optionor, issued 300,000 150,000 common shares to the Optionor and incurred a minimum of $160,000 80,000 in exploration expenses on the Property, the Optionee shall be deemed to have exercised the Option and will have acquired an undivided 100% right, title and interest in and to the Property, subject to the Royalty Interest.

Exercise of the Option. If the Optionee has paid $142,000 issued to the Optionor, issued 300,000 Optionor 400,000 common shares to the Optionor and incurred at least an aggregate of $160,000 1,000,000 in exploration expenses on the PropertyProperty in accordance with this Agreement, the Optionee shall be deemed to have exercised the Option and will have acquired an undivided 10050% right, title and interest in and to the Property, subject to the Royalty Interest.

Exercise of the Option. If the Optionee has paid $142,000 22,500 to the Optionor, Optionor and issued 300,000 150,000 common shares to the Optionor and incurred $160,000 110,000 in exploration expenses on the Property, the Optionee shall be deemed to have exercised the Option and will have acquired an undivided 100% right, title and interest in and to the Property, subject to the Royalty Interest.