Common use of Grant and Exercise of Option Clause in Contracts

Grant and Exercise of Option. 2.1 The Optionor grants to the Optionee the exclusive right and option, to acquire a 100% undivided interest in the Property free and clear of all charges, encumbrances and claims, save and except for those set out herein. 2.2 The Option shall be exercised by the Optionee: (a) (i) paying to the Optionor Cdn$7,500 forthwith on or before January 31, 2007; (ii) paying to the Optionor an additional Cdn$15,000 on or before December 31, 2008; (iii) paying to the Optionor an additional Cdn$25,000 on or before December 31, 2009. (b) (I) incurring Exploration Expenditures of Cdn$_10,000__. on the Property on or before December 31, 2007, or if weather does not allow reasonable access to the property at that time, the work to be completed at such other time as agreed by the parties;

Grant and Exercise of Option. 2.1 The Optionor grants to the Optionee the exclusive right and option, to acquire a 100% undivided interest in the Property free and clear of all charges, encumbrances and claims, save and except for those set out herein. 2.2 The Option shall be exercised by the Optionee: (a) (i) paying to the Optionor Cdn$7,500 forthwith $25000 U.S. on or before January December 31, 2007; (ii) paying to the Optionor an additional Cdn$15,000 $50,000 U.S. on or before December 31, 2008; (iii) paying to the Optionor an additional Cdn$25,000 $75,000 U.S. on or before December 31, 2009. . (b) (I) incurring Exploration Expenditures of Cdn$_10,000__. $5000 U.S. on the Property on or before December 31, 20072006, or if weather does not allow reasonable access to the property at that time, the work to be completed at such other time as agreed by the parties; (ii) incurring additional Exploration Expenditures of $50,000 U.S. on the Property on or before December 31, 2007;

Grant and Exercise of Option. 2.1 The Optionor grants to the Optionee the exclusive right and option, to acquire a 100% undivided interest in the Property free and clear of all charges, encumbrances and claims, save and except for those set out herein. 2.2 The Option shall be exercised by the Optionee: (a) (i) paying to the Optionor Cdn$7,500 $5000 U.S. forthwith on or before January March 31, 20072005; (ii) paying to the Optionor an additional Cdn$15,000 $25,000 U.S. on or before December 31, 20082005; (iii) paying to the Optionor an additional Cdn$25,000 $75,000 U.S. on or before December 31, 20092006. (b) (Ii) incurring Exploration Expenditures of Cdn$_10,000__. $5000 U.S. on the Property on or before December 31, 20072004, or if weather does not allow reasonable access to the property at that time, the work to be completed at such other time as agreed by the parties;