Common use of Net Smelter Return Royalty Clause in Contracts

Net Smelter Return Royalty. 2.1 The Royalty payable to the Optionor pursuant to Article 7 of the Option Agreement to which this Schedule is attached will be equal to 2.0% of the net smelter return (the “Net Smelter Return”). 2.2 The Net Smelter Return shall be the net amount of money received from the sale of ore, or ore concentrates or other products, from the Property to a smelter or other ore buyer after deduction of smelter and/or refining charges, ore treatment charges, penalties and any and all charges made by the purchaser of ore or concentrates, less any and all transportation costs which may be incurred in connection with the transportation of ore or concentrates, less all umpire charges which the Optionee may be required to pay.

Net Smelter Return Royalty. 2.1 2.1. The Royalty payable to the Optionor Cariboo pursuant to Article 7 3 of the Option Agreement to which this Schedule is attached will be equal to 2.00.5% of the net smelter return (the “Net Smelter Return”). 2.2 2.2. The Net Smelter Return shall be the net amount of money received from the sale of ore, or ore concentrates or other products, from the Property to a smelter or other ore buyer after deduction of smelter and/or refining charges, ore treatment chargescharges (not including on site milling costs), penalties and any and all charges made by the purchaser of ore or concentrates, less any and all transportation costs which may be incurred in connection with the transportation of ore or concentrates, less all umpire charges which the Optionee ZP may be required to pay.