Common use of Priority of mining Clause in Contracts

Priority of mining. (a) If a commercially mineable deposit of Gold Mineralisation is discovered on the Property adjacent to or near a commercially mineable deposit of some other Mineral in circumstances where the carrying out of the proposed Mining Operations for Gold Mineralisation and the other Mineral are inconsistent, then the Joint Venture Parties must negotiate in good faith to achieve an outcome which allows the exercise by the Joint Venture of all or some of its Gold Rights and the exercise by Whim Creek Mining or another party (severally or jointly) (in this clause “▇▇▇▇▇▇ Entity/Other Party”) of all or some of its rights to exploit the Property for the other Mineral, but if the Joint Venture Parties and ▇▇▇▇▇▇ Entity/Other Party are unable to negotiate an acceptable outcome, the development and mining of the Gold Mineralisation by the Joint Venture Parties will have priority. (b) Subject to clause 9.12(a), if and when the ▇▇▇▇▇▇ Entity/Other Party makes a decision to mine a deposit other than Gold Mineralisation on the Property or exercises the Prospector Rights, then the ▇▇▇▇▇▇ Entity /Other Party will provide to the Joint Venture Parties all the information it has pertaining to that deposit, and the Parties will negotiate in good faith to define the area required for the mining of that deposit, (“Non-Gold Mineralisation Development Area”) and the Joint Venture Parties at the cost of the ▇▇▇▇▇▇ Entity/Other Party (as the case may be) must do all things reasonably required by the ▇▇▇▇▇▇ Entity/Other Party to secure the best mining tenement reasonably available to the ▇▇▇▇▇▇ Entity/Other Party over the Non-Gold Mineralisation Development Area. For example: 1 The omitted information is the specific dollar amount. (i) if the ▇▇▇▇▇▇ Entity/Other Party wishes to have new mining lease(s) or other relevant mining tenements granted (New Titles) over part of the Property, then the Joint Venture Parties must do everything reasonably required by the ▇▇▇▇▇▇ Entity/Other Party to enable the New Titles to be granted in respect of the area(s) on which ▇▇▇▇▇▇/Other Party proposes to establish a Non-Gold Mineralisation Development Area; (ii) if the Joint Venture Parties are registered holders on a New Title, then they must transfer their interest in the New Titles to the ▇▇▇▇▇▇ Entity/the Other Party and pending the New Titles being registered by the Department to the Other Party, will grant to the Joint Venture (or the other party) a sublease of the relevant area; and (iii) if for any reason (including native title) the ▇▇▇▇▇▇ Entity/Other Party is unable to obtain New Titles then the Joint Venture Parties will grant the ▇▇▇▇▇▇ Entity/Other Party a sublease of the relevant Non-Gold Mineralisation Development Area. (c) If either the Joint Venture Parties or the ▇▇▇▇▇▇ Entity/Other Party proposes to establish infrastructure for a Mining Operation on the Property either for Gold Mineralisation or Other Minerals then, unless otherwise agreed by the Joint Venture Parties and the ▇▇▇▇▇▇ Entity/Other Party, the party proposing to establish the infrastructure must undertake sterilization drilling of the relevant areas in accordance with good mining industry practice.

Priority of mining. (a) If a commercially mineable deposit of Gold Mineralisation is discovered on the Property adjacent to or near a commercially mineable deposit of some other Mineral in circumstances where the carrying out of the proposed Mining Operations for Gold Mineralisation and the other Mineral are inconsistent, then the Joint Venture Parties must negotiate in good faith to achieve an outcome which allows the exercise by the Joint Venture of all or some of its Gold Rights and the exercise by Whim Creek Mining ▇▇▇▇ ▇▇▇▇▇▇ or another party (severally or jointly) (in this clause “▇▇▇▇▇▇ Entity/Other Party”) of all or some of its rights to exploit the Property for the other Mineral, but if the Joint Venture Parties and ▇▇▇▇▇▇ Entity/Other Party are unable to negotiate an acceptable outcome, the development and mining of the Gold Mineralisation by the Joint Venture Parties will have priority. (b) Subject to clause 9.12(a), if and when the ▇▇▇▇▇▇ Entity/Other Party makes a decision to mine a deposit other than Gold Mineralisation on the Property or exercises the Prospector Rights, then the ▇▇▇▇▇▇ Entity /Other Party will provide to the Joint Venture Parties all the information it has pertaining to that deposit, and the Parties will negotiate in good faith to define the area required for the 1 The omitted information is the specific dollar amount. mining of that deposit, (“Non-Gold Mineralisation Development Area”) and the Joint Venture Parties at the cost of the ▇▇▇▇▇▇ Entity/Other Party (as the case may be) must do all things reasonably required by the ▇▇▇▇▇▇ Entity/Other Party to secure the best mining tenement reasonably available to the ▇▇▇▇▇▇ Entity/Other Party over the Non-Gold Mineralisation Development Area. For example: 1 The omitted information is the specific dollar amount.: (i) if the ▇▇▇▇▇▇ Entity/Other Party wishes to have new mining lease(s) or other relevant mining tenements granted (New Titles) over part of the Property, then the Joint Venture Parties must do everything reasonably required by the ▇▇▇▇▇▇ Entity/Other Party to enable the New Titles to be granted in respect of the area(s) on which ▇▇▇▇▇▇/Other Party proposes to establish a Non-Gold Mineralisation Development Area; (ii) if the Joint Venture Parties are registered holders on a New Title, then they must transfer their interest in the New Titles to the ▇▇▇▇▇▇ Entity/the Other Party and pending the New Titles being registered by the Department to the Other Party, will grant to the Joint Venture (or the other party) a sublease of the relevant area; and (iii) if for any reason (including native title) the ▇▇▇▇▇▇ Entity/Other Party is unable to obtain New Titles then the Joint Venture Parties will grant the ▇▇▇▇▇▇ Entity/Other Party a sublease of the relevant Non-Gold Mineralisation Development Area. (c) If either the Joint Venture Parties or the ▇▇▇▇▇▇ Entity/Other Party proposes to establish infrastructure for a Mining Operation on the Property either for Gold Mineralisation or Other Minerals then, unless otherwise agreed by the Joint Venture Parties and the ▇▇▇▇▇▇ Entity/Other Party, the party proposing to establish the infrastructure must undertake sterilization drilling of the relevant areas in accordance with good mining industry practice.