Common use of Exploration Program Clause in Contracts

Exploration Program. (a) Kalimas agrees to begin the Exploration Program on the Concession by March/April 1997 or sooner, or at a time mutually agreed between the parties: 14th February. (b) Kalimas will dig numerous test pits as part of the exploration program. (c) Shallow drilling to the depth of 50-60 meters will be carried out over the first 90-day period or at a practical time. (d) Deep drilling to the depth of 200 meters will also be carried out over the second 90-day period or at a practical time. (e) Kalimas agrees to provide and/or secure 100% finance the Exploration Program for the development and implementation of the Long Beleh Gold Mine. In this regard, Kalimas agrees to spend a minimum of USD #100,000 in Year 1; USD $100,000 in Year 2; and USD $100,000 in Year 3. Accounting records for these expenditures will be kept by Kalimas

Exploration Program. (a) Kalimas agrees to begin the Exploration Program on the Concession by March/April 1997 or sooner, or at a time mutually agreed between the parties: 14th FebruaryParties:______________. (b) Kalimas will dig numerous test pits as part of the exploration program. (c) Shallow drilling to the depth of 50-60 meters will be carried out over the first 90-day period or at a practical time. (d) Deep drilling to the depth of 200 meters will also be carried out over the second 90-day period or at a practical time. (e) Kalimas agrees to provide and/or secure 100% finance the Exploration Program for the development and implementation of the Long Beleh Munung Gold Mine. In this regard, Kalimas agrees to spend a minimum of USD #$100,000 in Year 1; USD $100,000 in Year 2; and USD $#100,000 in Year 3. Accounting records for these expenditures will be kept by Kalimas.

Exploration Program. (a) Kalimas agrees to begin the Exploration Program on the Concession by March/April 1997 or sooner, or at a time mutually agreed between upon by the parties: 14th FebruaryParties:___________________________. (b) Kalimas will dig numerous test pits as part of the exploration program. (c) Shallow drilling to the depth of 50-60 meters will be carried out over the first 90-day period or at a practical time. (d) Deep drilling to the depth of 200 meters will also be carried out over the second 90-day period or at a practical time. (e) Kalimas agrees to provide and/or secure 100% finance the Exploration Program for the development and implementation of the Long Beleh Telen Gold Mine. In this regard, Kalimas agrees to spend a minimum of USD #$100,000 in Year 1; USD $100,000 in Year 2; and USD $100,000 in Year 3. Accounting records for these expenditures will be kept by Kalimas.