option AGREEMENT

(k)

“Business Days” means Monday to Friday of each week, local time, except such days designated as statutory holidays in Toronto, Vancouver, or Mexico City.

(l)

“Claim” means any claim, demand, action, cause of action, damage, loss, cost, liability or expense, including reasonable legal fees.

(m)

“Closing” means completion of the matters set out in ‎Section 3.8 and any ancillary matters.

(n)

“Closing Date” means the date of Closing as contemplated by ‎Section 3.7.

(o)

“Closing Transactions” has the meaning ascribed thereto in ‎Section 3.8.

(p)

“Common Shares” means the 664,893 ordinary, nominative, non-par value voting shares, with a contribution value of $100 pesos Mexican currency per share, representing 100% of the outstanding capital stock of MGS and of which, as at the date of this Agreement, Vista owns 664,393 shares (99.9248%), MGS Canada owns 499 shares (0.0750%) and Granges owns 1 share (0.00015%).

(q)

“Confidential Information” means all Technical Information and any other information concerning any matters affecting or relating to the business, the Project, operations, programs, assets, results or prospects of MGS, including information regarding plans, budgets, processes, results of exploration, and other data, provided however, that Confidential Information, as used in this Agreement, shall not include any information, data, knowledge or know how that:

(i)

is in the possession of Alamos or one of its Affiliates prior to its disclosure by the information provider;

(ii)

is in the public domain prior to disclosure to Alamos;

(iii)

lawfully enters the public domain after disclosure to Alamos through no violation of this Agreement by Alamos, its Affiliates or representatives;

(iv)

is received by Alamos or its Affiliates from a third party that is not bound by an obligation of confidentiality; or

(v)

is independently developed by Alamos or its Affiliates without the use of Confidential Information.

(r)

“Control or Controlled” used as a verb means, when used with respect to an entity, the ability, directly or indirectly through one or more intermediaries, to direct or cause the direction of the management and policies of such entity through: (i) the legal or beneficial ownership of voting securities or membership interests; (ii) the right to appoint managers, directors or corporate management; (iii) contract; (iv) an agreement; (v) a voting trust; or (vi) otherwise; and, when used with respect to a natural person, means the actual or legal ability to control the actions of another, through family relationship, agency, contract or

(s)

“Dollars” or “$” means currency of the United States of America, unless otherwise stated.

(t)

“Effective Date” has the meaning ascribed thereto on page one of this Agreement.

(u)

“Encumbrance” or “Encumbrances” means mortgages, deeds of trust, security interests, pledges, liens, royalties, overriding royalty interests, preferential purchase rights, or other encumbrances or burdens of any nature whatsoever whether imposed by contract or operation of Applicable Laws, but for greater certainty the term Encumbrance when used herein does not include the Back-In Right.

(v)

“Environment” means the system of natural and artificial or man induced elements such as air (including air in buildings, natural or made-made structures below or above ground), water (including water under or within land or in drains and sewers and coastal and inland waters and water bodies or recipient bodies) and land (including soil whether at or below surface) wetland, sediment, soil or subsurface strata, and natural resources and the environment as defined in any Environmental Laws.

(w)

“Environmental Laws” means all laws relating to the protection of the Environment, including air, soil, surface water, ground water, forest, flora, wildlife, or to public health and safety, and includes those Environmental Laws that regulate, ascribe, provide for or pertain to liabilities or obligations in relation to the existence, use, production, manufacture, processing, distribution, transport, handling, storage, removal, treatment, disposal, emission, discharge, migration, seepage, leakage, spillage or release of Hazardous Substances or the construction, alteration, use or operation, demolition or decommissioning of any facilities, mining projects, or other real or personal property.

(x)

“Exercise Notice” has the meaning ascribed thereto in ‎Section 3.7. 

(y)

“Exploration” means all activities related to ascertaining the existence, location, quantity, quality or commercial value of deposits of Ores and minerals on, in or under the mining lots covered by the mining concessions forming part of the Project.

(z)

“Financial Statements” has the meaning ascribed thereto in ‎Section 2.2(p).

(aa)

“Governmental Authority” means any federal, state or local government or authority, quasi government authority, fiscal or judicial body, government or self-regulatory organization, commission, board, tribunal, organization, or any regulatory, administrative or other agency, or any political or other subdivision, department, or branch of any of the foregoing.

(bb)

“Granges” means Granges Inc.

(cc)

“Hazardous Substance” means any waste, substance or material whether in a solid, liquid or gaseous form or any constituent thereof that is of a corrosive, reactive,

(dd)

“Knowledge”  means the actual knowledge of the current executive officers of Vista and/or MGS, as the case may be.

(ee)

“Maintenance Costs” means the costs and expenses to undertake MGS’ obligations to maintain the mining concessions of the Project in good standing and current in the fulfillment of legal obligations pursuant to the Mexican laws and the standards established in this Agreement, including all necessary expenditures for Exploration and minimum annual expenditures as provided for in the Mexican Mining Law and its Regulations, duties on mining (a.k.a. mining taxes) as provided for in the Mexican Federal Law of Duties, holding costs, rentals, taxes, fees, requirements, reports, and any other legal obligations and related professional fees that must be paid or otherwise complied with in order to maintain the Project and to maintain title to the mining concessions of the Project in good standing.

(ff)

“Material Adverse Effect” means, in respect of the Project, any change, effect, event, circumstance, fact or occurrence that individually or in the aggregate with other such changes, effects, events, circumstances, facts or occurrences, is or would reasonably be expected to be, material and adverse to the Project or to the business, financial condition, assets, liabilities or results of operation of MGS, except any change, effect, event, circumstance, fact or occurrence resulting from or relating to: (i) changes in general, economic or financial conditions; (ii) any natural disaster (provided that it does not have a materially disproportionate effect on the Project relative to other comparable projects); (iii) changes in Applicable Laws or accounting rules or principles; (iv) changes affecting the mining industry generally (provided that such changes do not have a materially disproportionate effect on the Project relative to other comparable projects); (v) any substantial change in the price of gold; or (vi) the commencement or continuation of any war, armed hostilities or acts of terrorism.

(gg)

“Material Contract” means a contract that:

(i)

involves or may result in the payment of money or money’s worth by or to MGS or a subsidiary in an amount in excess of $25,000; and

A.

has an unexpired term of more than 1 year (including renewals);

B.

cannot be terminated by MGS without penalty upon less than 60 days’ notice; or

C.

the termination of which, or under which the loss of rights, would constitute a Material Adverse Effect.

(hh)

“MGS” means Minera Gold Stake, S.A. De C.V.

(ii)

“MGS Canada” means Minera Gold Stake Holdings Corp.

(jj)

“Mineral Rights” means mining concessions licences and permits and other rights, including:

(i)

any permit, claim, licence, lease, concession, tenement, easement or other form of title or tenure; and

(ii)

any other right (including temporary occupancy rights and any other right to work upon lands),

A.

is granted, conferred or recognized under Applicable Laws; and

B.

which, among other things, allows or permits a Person to explore for, mine, extract, sell or otherwise dispose of, Ore.

(kk)

“NI 43-101” means National Instrument 43-101 Standards of Disclosure for Mineral Projects.

(ll)

“Open-Pit Royalty Agreement”  has the meaning ascribed thereto in ‎Article 5.

(mm)

“Operator” means Alamos and/or Alamos Mexico, as the case may be.

(nn)

“Option Payments” means Payment 1, Payment 2 and Payment 3.

(oo)

“Option” means the sole and exclusive right to acquire, directly or indirectly, including through a subsidiary owned by Vista, 100% of the Common Shares and to require the completion of the Closing Transactions upon the due and valid exercise of the Option pursuant to the terms and conditions of this Agreement.

(pp)

“Option Period” means subject to ‎Section 3.2 and ‎Section 13.6, the period commencing on the Effective Date and ending on the date which is the earlier of (i) the Closing Date; and (ii) the 48 month anniversary of the execution of this Agreement.

(qq)

“Ore” means all materials containing a mineral or minerals that are classified and the subject matter of the Mexican Mining Law, of commercial economic value extracted or derived from the mining lots covered by the mining concessions forming part of the Project.

(rr)

“Parties” means Vista, MGS Canada, MGS, Granges, Alamos, and Alamos Mexico and “Party” means any one of the Parties as the context requires.

(ss)

“Payment 1” has the meaning ascribed thereto in ‎Section 3.3.

(tt)

“Payment 2” has the meaning ascribed thereto in ‎Section 3.3.

(uu)

“Payment 3” has the meaning ascribed thereto in ‎Section 3.3.

(vv)

“Payments” means the Option Payments and the Purchase Price Payment.

(ww)

“Pre-Transfer Reorganization” has the meaning ascribed thereto in ‎Section 2.3(c).

(xx)

“Purchase Price Payment” has the meaning ascribed thereto in ‎Section 3.4.

(yy)

“Person”  means and includes any individual, sole proprietorship, partnership, unincorporated association, unincorporated syndicate, unincorporated organization, trust, agrarian community, company, corporation or other body corporate, Governmental Authority and a natural person in his or her capacity as trustee, executor, administrator, or other legal representatives.

(zz)

“Project” means the mining concessions pertaining to the ▇▇▇▇▇▇▇▇▇ de los ▇▇▇▇▇ project, as more particularly described in Appendix A and includes any renewal thereof and any other form of successor or substitute title therefore and any addition thereto, and also includes any other mineral properties, claims, interest or surface and easement rights acquired by MGS after the Effective Date pursuant to ‎Article 8.

(aaa)

“Resource” means a concentration or occurrence of solid material of interest in or on the Earth’s crust in such form, grade or quality that there are reasonable prospects for eventual economic extraction and the location, quantity, grade or quality, continuity or other geological characteristics of a resource are known, estimated or interpreted from specific geological evidence and knowledge, including sampling located in or under the mining lots covered by the mining concessions forming part of the Project.

(bbb)

“Taxes” means (i) any and all taxes, duties, fees, excises, premiums, assessments, imposts, levies, rates, withholdings, dues, contributions and other charges, collections or assessments of any kind whatsoever, imposed by any Governmental Authority; and (ii) all interest, penalties, fines, additions to tax or other additional amounts imposed by any Governmental Authority on or in respect of amounts of the type described in clause (i) above or this clause (ii).

(ccc)

“Technical Information” means engineering studies and working papers, consultants reports and working papers, pre‑feasibility reports, feasibility reports, mine plans, surface and underground maps, assays, samples, cores, analyses, geologic and geophysical maps, engineering maps, photographs, drill logs, exploration reports, environmental studies, correspondence with Governmental Authorities, reserve studies and reports, metallurgical studies and reports and all other information and data existing in printed or electronic form concerning the condition, geology, mineral potential, physical characteristics, mineability or other technical matters related to the Project.

(ddd)

“Temporary Occupancy Agreement” means that certain agreement dated June 13, 2016 among MGS and Ejido La Tasajera;

(eee)

“Underground” means, when used in relation to a Resource, a Resource whereby material can only be extracted therefrom via a shaft, ramp or other form of opening that is not characterized as an open pit mining method. 

(fff)

“Underground Royalty Agreement”  has the meaning ascribed thereto in ‎Article 5.

(ggg)

“Vista” means Vista Gold Corp.

(hhh)

“Vista MGS Shareholders” means Vista, MGS Canada and Granges and any other Person who becomes a shareholder of MGS before the Closing Date.

(iii)

“Vista Companies” means Vista, MGS Canada, Granges and MGS.

(jjj)

“Work” during the Option Period means the Exploration and/or development work performed exclusively on or directly in relation to the mining lots covered by the mining concessions forming part of the Project by the Alamos Companies, or by their Agents, in accordance with the terms of this Agreement.

Section 1.2

Certain Additional Rules of Interpretation

Section 1.3

Appendices

Section 1.4

Meaning of “including”, etc.

Section 1.5

Governing Law 

Section 1.6

Arbitration

Section 1.7

Severability

Article 2 – REPRESENTATIONS OF THE PARTIES

Section 2.1

Representations and Warranties of Alamos

(a)

Alamos is a corporation duly incorporated under the laws of Ontario on January 13, 1934 and Alamos Mexico is a corporation duly incorporated under the Mexican laws on August 20, 1996, both are in good standing in their jurisdiction of incorporation and they are qualified to do business and are in good standing in those jurisdictions necessary in order to carry out the purposes of this Agreement;

(b)

Alamos Mexico is a wholly owned subsidiary of Alamos;

(c)

they have the capacity to enter into and perform their obligations under this Agreement and all transactions contemplated herein, all corporate and other actions required to authorize them to enter into and perform Agreement have been properly taken and this Agreement is valid and binding upon them in accordance with its terms;

(d)

the execution and delivery of this Agreement will not conflict with, violate or result in the breach of their constating documents nor of any agreement to which the Alamos Companies are subject;

(e)

no consent or approval of any third party or Governmental Authority is required for the execution, delivery or performance of this Agreement by the Alamos Companies or the transfer or acquisition of any interest in MGS;

(f)

no Person has any agreement, right or option or anything capable of becoming an agreement, right or option for the payment or delivery of any consideration or commission in respect of the transactions contemplated herein; 

(g)

Alamos is solvent and there are no claims, actions, suits, judgements, litigation or proceedings pending against or affecting the Alamos Companies which could affect the performance by the Alamos Companies of their obligations under this Agreement; and

(h)

neither Alamos Mexico or, to the Knowledge of Alamos Mexico, any director, officer, agent, employee, affiliate or other person acting on behalf of Alamos Mexico is aware of or has taken any action, directly or indirectly, that would result in a violation by such persons of the Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder (the “FCPA”) or the Corruption of Foreign Public Officials Act (Canada), as amended (the “CFPOA”), including, without limitation, making use of the mails or any means or instrumentality of interstate commerce corruptly in furtherance of an offer, payment, promise to pay or authorization of the payment of any money, or other property, gift, promise to give, or authorization of the giving of anything off value to any “foreign official” (as such term is defined in the FCPA), or any “foreign public official” (as such term is defined in the CFPOA), or any foreign political party or official thereof or any candidate for foreign political office, in contravention of the FCPA and the CFPOA, and Alamos Mexico and, to the Knowledge of Alamos Mexico, its affiliates have conducted their businesses in compliance with the FCPA and the CFPOA.

Section 2.2

Representations and Warranties of the Vista Companies

(a)

unless changed in accordance with ‎Section 2.3(c), the Common Shares are the only issued and outstanding equity capital of MGS and the Vista MGS Shareholders beneficially own 100% of the Common Shares, free of any Encumbrances of any kind or nature, other than as described in this Agreement and will remain throughout the Option Period the beneficial owner, directly or indirectly, including through a subsidiary owned by Vista, of 100% of the Common Shares free of any Encumbrances of any kind or nature, other than as described in this Agreement. Other than this Agreement, there is no existing option, warrant, call, right or contract of any character to which the Vista MGS Shareholders (or any of them individually) are party requiring the sale, transfer or disposition in any manner of the Common Shares. The Vista MGS Shareholders are not

(b)

Vista beneficially owns 100% of the outstanding shares of MGS Canada and Granges and will remain throughout the Option Period the beneficial owner, directly or indirectly, including through a subsidiary owned by Vista, of 100% of the outstanding shares of MGS Canada and Granges;

(c)

each of them is a corporation duly incorporated and in good standing in its jurisdiction of incorporation and it is qualified to do business and is in good standing in those jurisdictions necessary in order to carry out the purposes of this Agreement;

(d)

each of them has the capacity to enter into and perform its obligations under this Agreement and all transactions contemplated herein, and that all corporate and other actions required to authorize it to enter into and perform this Agreement have been properly taken;

(e)

the execution and delivery of this Agreement by each of them will not conflict with, violate or result in the breach of any of their constating documents nor of any agreement to which any of them are subject;

(f)

there is no requirement to obtain any consent, approval or waiver of a party under any contract to which MGS is a party in order to execute and deliver this Agreement;

(g)

this Agreement has been duly approved and delivered by each of them and by MGS and is valid and binding upon them in accordance with its terms;

(h)

to the Knowledge of Vista and MGS, MGS has maintained a valid interest in the Project in good standing and all surface and underground (as applicable) rights have been maintained in material compliance with all Applicable Laws;

(i)

MGS is the legal, registered and beneficial owner of a 100% right, title and interest in and to the Project free and clear of all Encumbrances, except for those royalties set out in Appendix A hereto; 

(j)

to the Knowledge of Vista and MGS, no Person other than Alamos has any agreement, option, right or privilege capable of becoming an agreement for the purchase of the Project or an interest therein;

(k)

the Vista MGS Shareholders have the right to enter into this Agreement and to sell, transfer or dispose of all of their right, title and interest in and to the Common Shares and, indirectly, the Project in accordance with the terms of this Agreement;

(l)

to the Knowledge of Vista and MGS, there is no adverse claim or challenge against or to the ownership of the Project;

(m)

as at the date of this Agreement, to the Knowledge of Vista and MGS, the material Maintenance Costs include those set out in Appendix F;

(n)

to the Knowledge of Vista and MGS, as of the Effective Date,  

(i)

conditions on and relating to the Project and operations conducted thereon are and have been conducted in compliance with all Applicable Laws, including without limitation, Environmental Laws and MGS has not been notified in writing, by any Governmental Authority or other person, that it is or may be in violation of any Applicable Laws, including without limitation, Environmental Law;

(ii)

MGS has provided to Alamos copies of all material environmental audits and risk and site assessments in MGS’ possession, if any, relating to compliance with Environmental Laws, management of Hazardous Substances, or the environmental condition of properties presently or formerly owned, operated, or leased by MGS; and

(iii)

there are no claims, actions, suits, judgements, litigation or proceedings pending against or affecting MGS or the Project that would have a Material Adverse Effect on the Project;

(o)

to the Knowledge of Vista and MGS,

(i)

other than in respect of Maintenance Costs to be paid by Alamos between the Effective Date and the Closing Date, MGS has paid all Taxes which are due and payable within the time required by Applicable Law, and has paid all assessments and reassessments it has received in respect of Taxes;

(ii)

other than in respect of obligations to be assumed by Alamos pursuant to ‎Section 3.6(a) for the period between the Effective Date and the Closing Date, MGS has filed or caused to be filed, with the appropriate Governmental Authorities, within the times and in the manner prescribed by Applicable Law, all Tax returns which are required to be filed by or with respect to it; 

(iii)

other than in respect of any Taxes forming part of the Maintenance Costs which are to be paid by Alamos, there are no outstanding agreements, arrangements, waivers or objections extending the statutory period or providing for an extension of time with respect to the assessment or reassessment of Taxes or the filing of any Tax return by, or any payment of Taxes by, MGS; and

(iv)

other than the proceeding deriving from the application of the Refund (defined below), there are no claims, actions, suits, audits, proceedings, investigations or other actions pending or threatened against MGS in respect of Taxes;

(p)

all Material Contracts to which MGS is a party or by which MGS is bound have been provided to Alamos. Except as disclosed in writing to Alamos prior to the date hereof, MGS is not in material default or breach of any Material Contract, and there exists no state of facts which, after notice or lapse of time or both, would constitute a material default or breach. To Vista’s Knowledge, no counterparty to any Material Contract is in material default of any of its obligations under any Material Contract, MGS is entitled to

(q)

MGS has delivered to Alamos audited annual financial statements of MGS for the financial years ended December 31, 2015 and 2016 and unaudited interim financial statements for the period ended June 30, 2017 (collectively, the “Financial Statements”);

(r)

MGS has no debts outstanding or other obligations or liabilities, save and except as disclosed in the Financial Statements and as of the Closing Date MGS shall have no intercompany loans or other payables to Vista or its Affiliates;

(s)

the Financial Statements fairly represent the financial condition of MGS as at their date and as of the Effective Date, there has been no material change to the financial condition of MGS since June 30, 2017;

(t)

except as disclosed in writing to Alamos, MGS is not a party to any contract or arrangement (whether oral or written) with any employee, consultant, agent or representative of MGS, which contract or arrangement provides for any salary, commission, bonus or other form of compensation to be paid to an employee, consultant, agent or representative;

(u)

neither Vista nor MGS is a party to or bound by any Agreement which would require MGS to Encumber the Project in the future;

(v)

no Person has any agreement, right or option or anything capable of becoming an agreement, right or option for the payment or delivery of any consideration or commission in respect of the transactions contemplated herein with Vista, except the net smelter return royalties described in Appendix A; and

(w)

neither MGS or, to the Knowledge of MGS, any director, officer, agent, employee, affiliate or other person acting on behalf of MGS is aware of or has taken any action, directly or indirectly, that would result in a violation by such persons of the Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder (the “FCPA”) or the Corruption of Foreign Public Officials Act (Canada), as amended (the “CFPOA”), including, without limitation, making use of the mails or any means or instrumentality of interstate commerce corruptly in furtherance of an offer, payment, promise to pay or authorization of the payment of any money, or other property, gift, promise to give, or authorization of the giving of anything off value to any “foreign official” (as such term is defined in the FCPA), or any “foreign public official” (as such term is defined in the CFPOA), or any foreign political party or official thereof or any candidate for foreign political office, in contravention of the FCPA and the CFPOA, and MGS and, to the Knowledge of MGS, its affiliates have conducted their businesses in compliance with the FCPA and the CFPOA.

Section 2.3

Acknowledgements 

(a)

The Parties acknowledge that MGS may be entitled to receive certain tax refunds in relation to the transfer by Vista of the Project to MGS in 2012 (the “Refund”). The Parties further agree that in the event that MGS collects the Refund during the term of this Agreement, the Refund will be distributed to certain of the Vista MGS Shareholders.

(b)

For greater certainty, Alamos acknowledges and agrees that it shall not acquire any legal or beneficial interest in the Project until the Option has been exercised in accordance with the terms of this Agreement.

(c)

Alamos agrees that, prior to the Closing Date, Vista may effect a reorganization of the ownership of MGS, including involving one or more of Vista’s subsidiaries (a “Pre-Transfer Reorganization”). Vista shall provide written notice to Alamos of any proposed Pre-Transfer Reorganization, which notice shall include the proposed details of any such Pre-Transfer Reorganization, at least 30 days prior to the Closing Date. Upon receipt of such notice, Vista and Alamos shall, or shall cause the Vista Companies and/or Alamos Mexico to, respectively, work co-operatively and do all such other acts and things as are reasonably necessary to give effect to such Pre-Transfer Reorganization.

Section 2.4

Survival

Article 3 – GRANT OF OPTION AND EXERCISE REQUIREMENTS

Section 3.1

Grant of Option

Section 3.2

Commencement of the Option

Section 3.3

Maintenance of the Option (Option Payments)

Option Payment timing

Payment Amount

Upon execution of this Agreement (“Payment 1”)

On or before the 12 month anniversary of the execution of this Agreement (“Payment 2”)

On or before the 24 month anniversary of the execution of this Agreement (“Payment 3”)

Section 3.4

Purchase Price Payment

Section 3.5

Payments Non Refundable

Section 3.6

Holding Obligations 

(a)

From and after the Effective Date the Alamos Companies shall have the following obligations:

(i)

maintaining the mining concessions in good standing, in compliance with all Applicable Laws, including the timely filing of work assessment annual reports and of all other technical, accounting and statistics reports and in general the fulfillment of any other legal non-financial obligations, as provided for in the Mexican Mining Law, the regulations thereto and any other Applicable Laws for the duration of the Option Period;

(ii)

to the extent same is transferred to the Alamos Companies or is controlled by the Alamos Companies after the date hereof, keeping all Technical Information and

(iii)

fulfilling all of the obligations of MGS with the Ejido La Tasajera deriving from the Temporary Occupancy Agreement or from any other agreement Alamos Mexico or MGS (with the consent and approval of Alamos) enters into with said Ejido La Tasajera and/or with any other surface owners to get access to the Project for the duration of the Option Period;

(iv)

paying 100% of the Maintenance Costs for the duration of the Option Period,

Section 3.7

Exercise of Option

Section 3.8

Closing Transaction Matters

(a)

the Vista MGS Shareholders shall execute a resolution of the shareholders of MGS appointing such directors of MGS specified by Alamos so that Alamos’ nominees will then constitute the Board of MGS;

(b)

to the extent requested by Alamos, MGS shall secure the resignation or other termination of any existing employees, at no cost to Alamos or MGS; 

(c)

the Vista MGS Shareholders, as applicable, shall transfer, directly or indirectly, including through a subsidiary owned by Vista, 100% of the Common Shares to Alamos (together with at least one Alamos’ designee to acquire, directly or indirectly, at least one Common Share of MGS); 

(d)

Alamos shall deliver an undertaking in a form and substance satisfactory to Vista that Alamos will deliver to Vista and will cause MGS to deliver to Vista the Underground Royalty Agreement executed by Alamos and MGS on the Business Day following the Closing Date in connection with ‎Section 5.1(a),

(e)

Alamos shall deliver to Vista the Open-Pit Royalty Agreement signed by Alamos pursuant to ‎Section 5.1(c); and

(f)

Vista shall deliver to Alamos the Open-Pit Royalty Agreement signed by Vista pursuant to ‎Section 5.1(c).

Article 4  -BACK-IN RIGHT

Section 4.1

Description and Exercise of Back-In Right 

(a)

Upon the exercise of the Option in accordance with this Agreement, Vista will, upon the terms of this Article, retain a right to acquire a 49% non-carrying interest in all future Underground Resource(s) (the “Back-In Right”).  In the event that Alamos determines to pursue development of any Underground Resource(s) it will notify Vista and Vista shall, have a right to acquire a 49% non-carrying interest in all Underground Resource(s).  

(b)

Alamos shall provide notice in writing to Vista (the “Back-In Right Notice”) promptly and in any event within 10 Business Days after its board makes a determination, in its sole discretion, having regard to all relevant information, acting reasonably, such Back-In Right Notice shall include  an internally prepared written technical and economic analysis supporting such decision that a reasonable mining company would consider sufficiently detailed to allow a reasonable mining company to make a decision to pursue development of any Underground Resource (the “Analysis”). Vista will have 30 days from the date of receipt of the Back-In Right Notice from Alamos to conduct due diligence reviews with

(c)

During the Back-In Right Option Period, Alamos shall, from time to time, deliver to Vista, at Vista’s expense, as soon as is reasonably practicable such information and documents, reports, maps and other information as Vista may reasonably request, including a copy of the Analysis and other materials relating to the Project provided to the Board of Directors of Alamos and/or Alamos Mexico in connection with their approval of the development determination referred to in Section 4.1(b) above, and shall co-operate in assisting Vista in completing such review. On or prior to the expiry of the Back-In Right Option Period, Vista may exercise its Back-In Right with respect to the Underground Resource(s) by delivering notice in writing to Alamos (the “Back-In Right Exercise Notice”). Upon exercise of the Back-In Right by Vista sending the Back-In Right Exercise Notice to Alamos, Vista (or a wholly-owned affiliate of Vista) and Alamos (or a wholly-owned affiliate of Alamos) shall negotiate in good faith and enter into a definitive agreement (a “Joint Venture Agreement”) for the purpose of conducting development or other related mining and ore processing work in respect of the Underground Resource for which the Back-In Right has been exercised.  The Joint Venture Agreement will include, at a minimum, the material terms set out in Appendix C. The Parties agree to promptly negotiate, execute and deliver all documents and take all such reasonable actions as may be reasonably required to effect the Back-In Right.

(d)

The Back-In Right described in this ‎Article 4 shall survive the execution of this Agreement and the exercise of the Option. The Back-In-Right constitute an interest in the Project that runs with the Project and is enforceable against the Alamos Companies and will be enforceable against any third party acquiror, assignee or transferee of all, or any part of, the Project. 

Section 4.2

Failure to Elect 

Article 5 - ROYALTY

Section 5.1

Royalties 

(a)

On the Business Day following the Closing Date, Alamos shall cause MGS to grant and deliver to Vista an executed net smelter returns royalty agreement, substantially in the form set out in Appendix D  (the “Underground Royalty Agreement”), pursuant to which, Vista will retain and be granted a net smelter returns royalty (the “Underground Royalty”) on any current or future resource of the Project in accordance with and subject to the terms of the Underground Royalty Agreement that is brought into production via Underground mining methods.

(b)

The Underground Royalty constitutes an interest in the Project that runs with the Project and is enforceable against MGS.  Vista may register the Underground Royalty Agreement against title of the mining concessions forming part of the Project or any part thereof as a burden that runs with the Project.

(c)

Alamos shall grant and deliver to Vista an executed net smelter returns royalty agreement, substantially in the form set out in Appendix E  (the “Open-Pit Royalty Agreement”), pursuant to which, Vista will retain and be granted a net smelter returns royalty (the “Open-Pit Royalty”) on any current or future resource of the Project in accordance with and subject to the terms of the Open-Pit Royalty Agreement that is brought into production via open pit mining methods.    

Article 6 – ADDITIONAL COVENANTS

Section 6.1

Covenants of Alamos During the Option Period

(a)

direct, manage and fund and as appropriate, conduct the program of work on the Project set out in ‎Section 7.1;

(b)

pay the Maintenance Costs and take all steps and proceedings to maintain the Project in good standing;

(c)

perform their duties and responsibilities and comply with their obligations under this Agreement;

(d)

immediately notify Vista if:

(i)

any representations or warranties contained in ‎Section 2.1 are not true and correct in any material respect during the term of the Option Period; or

(ii)

any covenant of the Alamos Companies pursuant to this Agreement has not been complied with;

(e)

not, by any action or inaction cause any Encumbrance to be placed upon or against the mining concessions forming part of the Project or any part thereof;

(f)

conduct all of the operations on the Project in a good and workmanlike manner in accordance with generally accepted mining industry practice and in compliance with all Applicable Laws and in accordance with the terms and provisions of the mining concessions, leases, licenses, permits, contracts and other agreements pertaining to the Project, its assets and its operations and in accordance with the care and skill normally expected of a Canadian publicly listed entity conducting and managing Exploration, development and mining activities in Mexico;

(g)

ensure that their employees, contractors and authorized agents and their Affiliates’ employees, contractors and authorized agents enter the Project at the Alamos Companies’ sole risk and expense;

(h)

keep and maintain all required accounting and financial records for Alamos Mexico pursuant to International Financial Reporting Standards and in accordance with customary cost accounting practices in the mining industry;

(i)

obtain insurance, naming Vista and MGS as co-insured, which adequately covers all risks reasonably and prudently foreseeable in the operation and conduct of the Work; and

(j)

keep Vista reasonably informed of all material facts, matters and things relating to the Project.

Section 6.2

Covenants of MGS During the Option Period

(a)

Between the Effective Date and the Closing Date, MGS shall, to the extent such matters are within its control:

(i)

use commercially reasonable efforts to preserve MGS in good standing in its jurisdiction of incorporation and not, by any action or inaction cause any Encumbrance to be placed upon or against the mining concessions forming part of the Project or any part thereof, other than in connection with those set out in Appendix A;

(ii)

use commercially reasonable efforts to preserve intact current business organization, keep available the services of current officers, employees, consultants, contractors and agents, and maintain the relations and goodwill with suppliers, customers, landlords, landowners, creditors, employees, consultants, contractors, agents, and others having business relationships with them;

(iii)

use commercially reasonable efforts to preserve the goodwill of the business;

(iv)

operate the business in accordance with usual business practices as a going concern with all due care and in compliance with all Applicable Laws and Authorizations;

(v)

not undertake any action or fail to take any action that could reasonably result in MGS not being able to meet its obligations as set out in this Agreement;

(vi)

transfer all Technical Information owned by MGS to Alamos;

(vii)

forward to Alamos on a timely basis all invoices, notices, statements and similar documents received by MGS and/or Vista relating to Work and/or Maintenance Costs required to be paid by Alamos;

(viii)

work with the Alamos Companies in good faith and using their commercially reasonable efforts to secure, at the Alamos Companies’ expense, an extension of

(ix)

keep Alamos reasonably informed of all material facts, matters and things relating to MGS and the businesses, property and assets, and provide Alamos with reasonably requested information regarding MGS and the businesses, property and assets, including in respect of the Pre-Transfer Reorganization.

(x)

Between the Effective Date and the Closing Date, without the prior written consent of Alamos (such consent not to be unreasonably withheld or delayed),  MGS shall not:

(i)

amend the terms of the Project or terminate or otherwise amend the Exploration Agreement;

(ii)

make any capital expenditure in excess of $15,000 or undertake any other commitments other than in the ordinary course of business;

(iii)

sell, transfer, lease, license or otherwise dispose of any of the Project or any interest therein whatsoever;

(iv)

allow for any Encumbrance to be placed on the Project;

(v)

grant any license, assignment or other right or interest in respect of Technical Information owned by MGS, other than as set out in this Agreement;

(vi)

acquire any material asset;

(vii)

other than in connection with 2.3(c), issue any new Common Shares or enter into any agreement in respect of any loans or borrowing;

(viii)

enter into any new Material Contract, or amend, waive or terminate any provisions of any existing Material Contract, or enter into any other obligation which is not in the ordinary course of business;

(ix)

enter into any abnormal or unusual transaction which relates to or adversely affects its business or could reasonably be expected to result in a Material Adverse Effect in respect of MGS;  

(x)

other than in connection with ‎Section 3.8(b),  enter into any employment, consulting or similar contract or hire any new employee, consultant or contractor, amend any existing employment, consulting or similar contract, renew any existing employment, consulting or similar contract on materially different terms, or terminate any employment, consulting or similar contract;

(xi)

other than in connection with a Pre-Transfer Reorganization, make any Tax election or, subject to ‎Section 7.3, settle or compromise any Tax liability, unless that election, settlement or compromise is required by Applicable Laws or is advisable in the best interest of MGS and is supported by a written opinion of competent legal counsel;

(xii)

make any change in the accounting methods, principles or practices used at the Effective Date, save for any changes required by Applicable Laws or in connection with ‎Section 2.3(c);

(xiii)

cancel any debt owed to MGS, or waive any claim or right in respect thereof;

(xiv)

commence, settle, waive, compromise or discontinue any proceeding or other claim for damages;

(xv)

amend or restate the constating documents of MGS;

(xvi)

other than in connection with ‎Section 2.3(c),  increase, reduce or otherwise alter the share capital or grant any options, warrants or other similar rights for the issue of shares or other securities of MGS;

(xvii)

other than in connection with ‎Section 2.3(c) or the Refund, declare or pay any dividend, make a distribution or revaluation of assets, buy back or make any offer to buy back shares, or make any other similar payment or distribution of cash or property to shareholders or other Affiliates, including by way of service or consulting fees or the repayment of principal or interest on intercompany indebtedness; or

(xviii)

offer, agree or otherwise commit to do any of the foregoing.

Section 1.3

Additional Covenants

(i)

Each of the Parties shall from time to time give prompt notice to the other of any notice of default, lawsuit, proceeding, action or damages of which it becomes aware and which might affect the mining concessions forming part of the Project, the title of any Party to the Project or a Party’s ability to comply with its obligations under this Agreement;

(ii)

Each of the Parties shall cooperate in structuring the transactions contemplated in this Agreement in a tax efficient manner including making such amendments to this Agreement as are appropriate to make the transactions more tax efficient, provided no such cooperation shall be required where such structuring shall have an adverse effect on the business, operations or financial condition of the Parties or on the economics of the transactions contemplated by this Agreement to either Party, or any adverse impact on its shareholders, as the case may be, or cause any breach of or default under this Agreement by a Party which the other Party has not agreed to waive in writing; and

(iii)

The Parties shall not disclose Confidential Information to any third party (other than to its employees, consultants and Affiliates) unless (i) the information was known to the person to whom such information is being disclosed prior to the Effective Date or became known to such person thereafter without breach of this Agreement, (ii) the disclosure of such information is necessary or appropriate in making any filing or obtaining any consent or approval required for the consummation of the transactions contemplated hereby, (iii) the furnishing or use of such information is required by any Applicable Law or the request of any Governmental Authority, (iv) such information is disclosed to an Affiliate of Alamos or Vista or such Affiliates’ directors, officers, employees, representatives and agents who are bound by confidentiality obligations in respect of such information, or (v) such information is disclosed to Alamos, Vista, or their Affiliates’ auditors, legal counsel, lenders, brokers, underwriters, investment bankers and other professional advisers for whom such confidential information would be relevant (and the Party disclosing such Confidential Information shall ensure that any person to whom Confidential Information is disclosed under clause (iv) or (v) will not disclose such Confidential Information to any other person if such disclosure would be a breach of this Agreement had such disclosure been made directly by such party and will be liable to the other Parties hereunder for any disclosure by such person).

Article 7 – PROJECT MANAGEMENT PROGRAM, FUNDING AND MANAGEMENT DURING THE OPTION PERIOD

Section 7.1

Project Management Program and Funding of Alamos Mexico During the Option Period 

(a)

using commercially reasonable efforts to obtain any Authorizations required to maintain the Project in good standing and to advance all current and future activities at the Project;

(b)

maintaining and defending MGS’ assets, including its mining concessions, other interests in land and permits;

(c)

maintaining all of MGS’ Technical Information in good order; and

(d)

maintaining MGS’ community program and assume each and all of MGS’ obligations to the Ejido La Tasajera.

Section 7.2

Rights of Operator

(a)

to enter at its sole discretion and risk and pursuant to the Temporary Occupancy Agreement entered into with Ejido La Tasajera currently in place or pursuant to any other agreements Alamos Mexico enters into with said Ejido and/or with any other surface owners in, under or upon the mining lots covered by the mining concessions forming part of the Project;

(b)

to have possession of the Project but not title to same;

(c)

subject to ‎Section 12.6 to carry out such Work as Alamos and/or Alamos Mexico, as the case may be, in their sole discretion consider advisable including if the necessary Authorizations are obtained, bringing or erecting upon the Project machinery, equipment and ancillary facilities including, without limiting the generality of the foregoing, housing, utility services, roads, conveyors, plants, buildings, waste areas, tailing areas and disposal areas or systems;

(d)

to maintain, to the extent permissible under Applicable Laws, in the name of Alamos Mexico, all licenses, permits and Authorizations required to carry out the Work; and

(e)

to remove Ore, minerals or metals from the Project in such reasonable quantities only for the purpose of obtaining assays or making other tests but not for commercial purposes.

Section 7.3

Maintenance of Company Goodwill

Section 7.4

Access 

(a)

Vista provides, or causes any other of the Vista Companies to provide, reasonable prior written notice to the Alamos Companies of (i) that part of the Project to which it requires access, (ii) the identity of the individuals to be provided access, and (iii) when it proposes to access the Project; and

(b)

The Vista Companies do not interfere with the normal operations of the Alamos and/or Alamos Mexico, as the case may be, as Operator on the Project. 

Section 7.5

Reports and Inspection

Article 8 – ACQUISITIONS IN AREA OF INTEREST

Section 8.1

Requirement following Acquisition

Section 8.2

Notice of Acquisition

Section 8.3

Election to Include

Section 8.4

Further Assurances

Section 8.5

Failure to Elect to Include

Section 8.6

Best Efforts

Section 8.7

Non-compliance

Section 8.8

Other Business Opportunities

Article 9 – CONFIDENTIALITY AND PUBLIC ANNOUNCEMENTS

Section 9.1

General

Section 9.2

Exceptions

(a)

The restriction imposed by ‎Section 6.3(iii) and ‎Section 9.1 shall not apply to a disclosure of Confidential Information:

(i)

in accordance with the requirements of any stock exchange or securities regulatory authority or commission having jurisdiction over a Party’s or any of its Affiliate’s securities;

(ii)

to government agencies as required by the terms of mining concessions or any other Authorizations;

(iii)

to employees or to an Affiliate, consultant, contractor or subcontractor of a Party that has a bona fide need to be informed;

(iv)

to a Governmental Authority or to the public, which any of the Alamos Companies believes in good faith is required by Applicable Laws;

(v)

to actual or potential lenders or underwriters who have a bona fide need to be informed;

(vi)

to independent accountants or legal counsel engaged by Alamos for the purpose of enabling such accountants or legal counsel to give appropriate advice in respect of a financing or other matters arising under this Agreement; and

(vii)

to any recognized merchant or investment banking firm engaged in giving advice to Alamos in connection with a financing or other matter arising under this Agreement.

(b)

In any case to which the exceptions in ‎Section 9.2 are applicable, Alamos shall give notice to the Vista Companies, at least 7 days in advance of the making of such disclosure by Alamos or any of its Affiliates.  Such notice shall identify the Confidential Information to be disclosed and the recipient.  As to any disclosure, except disclosure required by Applicable Law, only such Confidential Information as such third party shall have a legitimate business need to know shall be disclosed.  Except with respect to disclosure required by Applicable Law, as to any disclosure to a third party, such third party shall first agree in writing to protect the Confidential Information from further disclosure to the same extent as Alamos is obligated under this ‎Article 9 and Alamos shall concurrently with the making of such disclosure, give notice to Vista that the required agreement in writing has been completed.  Notwithstanding the absence of a required written agreement, Alamos shall be responsible for assuring that no unauthorized disclosure of information to be kept confidential pursuant to ‎Section 9.1 is made by any Person receiving information.

(c)

Notwithstanding the restrictions set out in ‎Section 6.3(iii) or this ‎Article 9, if Alamos is required under applicable securities laws or stock exchange requirements to publicly disclose Confidential Information in a press release or other continuous disclosure document, including an annual information form, information circular, MD&A, annual or interim financial statements, prospectus or material change report, Alamos shall notify Vista of such disclosure prior to issuing or filing such press release or continuous disclosure document.  If the press release or continuous disclosure document contains any of the Vista Companies’ names, the name of any of the Affiliates, officers, directors or employees of the Vista Companies, such press release or continuous disclosure document shall not be issued or filed without the prior consent of the Vista Companies, which consent shall not unreasonably be withheld (provided that consent will not be required in respect of any factual disclosure that corresponds in substance to disclosure previously consented to by the Vista Companies or disclosure already contained within a press release or continuous disclosure document issued or filed by the Vista Companies which, to the Knowledge of Alamos, after reasonable inquiry, remains factually accurate).  Failure to comment within 24 hours of receipt of notice of any proposed issuance or filing of a press release or continuous disclosure document containing any of the Vista Companies' names will be deemed to constitute consent.  However, such consent shall not be considered a representation, warranty or certification by the Vista Companies as to the accuracy of the information or data in such press release or continuous disclosure document, or a confirmation by the Vista Companies that the content of such press release or continuous disclosure document complies with applicable securities laws or stock exchange requirements.  Alamos will be responsible to provide its own Qualified Person (as such term is defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects) for any technical information contained in any press release or other public disclosure document that is publicly disclosed or filed with regulatory authorities pursuant to this ‎Section 9.2.

Section 9.3

Duration of Confidentiality

Article 10 – INDEMNITY

Section 10.1

Indemnification of Vista

(a)

the Alamos Companies or one of their Affiliate’s  or Agent’s operations conducted on the Project after the Effective Date, including any liabilities related or damages caused to the Environment due to breach of Environmental Laws or other Applicable Laws or otherwise, or reclaiming, Remediating or rehabilitating any of the Project in respect of any Work performed on the Project after the Effective Date;

(b)

any loss of life, injury to persons or property or damage to the Project or the Environment after the Effective Date;

(c)

any misrepresentation or breach of representation, warranty, covenant, obligation or agreement of Alamos or Alamos Mexico under this Agreement;

(d)

any Claim against Vista or any of its Affiliates instituted after the Effective Date that is based on any act or omission of the Alamos Companies or their Affiliates or Agents in its operations or activities after the Effective Date; or

(e)

any Claim derived from their respective employer-worker obligations, including contractors or subcontractors hired by the Alamos Companies or their Agents or Affiliates.

Section 10.2

Indemnification of Alamos

(a)

any misrepresentation or breach of representation, warranty, covenant, obligation or agreement of Vista under this Agreement; or

(b)

any Claim derived from MGS’s respective employer-worker obligations, including contractors or subcontractors hired by Vista or its Agents or Affiliates.

Article 11 – COMPLIANCE WITH POLICY ON INTERNATIONAL BUSINESS CONDUCT

Section 11.1

Compliance

Article 12 – TERMINATION

Section 12.1

Termination

(a)

by Vista, if Alamos (i) fails to make Payment 1 when due; (ii) fails to make Payment 2 when due; or (iii) fails to comply with the Holding Obligations;

(b)

by Vista, upon 30 days written notice, if  Alamos (i) fails to make Payment 3 when due; (ii) fails to make the Purchase Price Payment when due; (iii) fails to grant the Back-In Right in accordance with the terms of this Agreement; (iv) fails to grant the Royalty in accordance with the terms of this Agreement, (v) is not in material compliance with this Agreement, or (vi) has notified Vista that it does not intend to exercise the Option;

(c)

by Alamos, upon 30 days written notice, if  Vista is not in material compliance with this Agreement;

(d)

by Alamos upon 10-days written notice from Alamos to Vista that it does not intend to exercise the Option provided that Alamos is not in default of any of its obligations under this Agreement and has not already exercised the Option;

(e)

if the Option is exercised, immediately following the Closing; or

(f)

by mutual written agreement of the Parties.

Section 12.2

Right to Cure

Section 12.3

Maintenance Costs

Section 12.4

Delivery of Data    

Section 12.5

Removal of Encumbrances

Section 12.6

Removal of Buildings and Environmental Matters

(a)

except for any works performed for security or stability purposes which may not be removed pursuant to the Mexican Mining Law, all buildings, plant, equipment, machinery, tools, appliances and supplies which may have been brought upon the Project by or on behalf of Alamos and/or Alamos Mexico, as may be the case, as Operator shall be removed by the Alamos Companies at any time not later than 30 days after

(b)

Alamos shall perform, or cause Alamos Mexico to perform such rehabilitation, reclamation or pollution control on the Project as may be required as a result of the activities thereon by the Alamos Companies or their Agents to the standard required in accordance with Applicable Laws and regulatory requirements.

Article 13  – GENERAL PROVISIONS

Section 13.1

Notices

(i)

to Alamos, at:

(ii)

to Vista:

Section 13.2

Assignment and Enurement

(a)

This Agreement shall bind and enure to the benefit of the Parties and their respective successors and permitted assigns. Subject to receipt of the prior written consent of the other Parties (such consent not to be unreasonably withheld) a Party may assign its rights or obligations hereunder. In order for any assignment to be effective, the transferee corporation(s) must sign a counterpart of this Agreement acknowledging that it is legally bound by the terms and conditions hereof.

(b)

 Subsequent to the exercise of the Option in accordance with this Agreement, Alamos agrees not to sell or transfer, directly or indirectly, and to cause MGS to not sell or transfer,  any or all of the Project unless such assignee or transferee shall have previously agreed in writing to assume all of Alamos’  and Alamos Mexico’s obligations and liabilities to Vista under this Agreement and under the agreements deriving therefrom which may yet remain in effect in respect of that portion of the mining concessions forming part of the Project transferred or sold to such assignee or transferee.

Section 13.3

Relationship of the Parties

Section 13.4

Waiver

Section 13.5

Amendments

Section 13.6

Force Majeure

Section 13.7

Further Assurances

Section 13.8

Survival of Terms and Conditions

Section 13.9

No Third Party Beneficiary

Section 13.10

Entire Agreement

Section 13.11

Counterparts

Section 13.12

Time of Essence

/s/

VISTA GOLD CORP.

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Name: ▇▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇

Title: President and CEO

MINERA GOLD STAKE HOLDINGS CORP.

By:

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Name: ▇▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇

Title: Director

GRANGES INC.

By:

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Name: ▇▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇

Title: Director

MINERA ALAMOS INC.

By:

/s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇

Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇

Title: Chief Financial Officer

MINERA GOLD STAKE, S.A. DE C.V.

By:

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Name: ▇▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇

Title: Director

MINERA ALAMOS DE SONORA S.A. DE C.V.

By:

/s/ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇

Name: ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇

Title: Attorney in Fact

Lot

Title

Titleholder 

Area (Hectares)

Expiration Date

Location

Royalty

Claim Group

Los ▇▇▇▇▇ Dos

214131

MGS

17.3662 Has.

▇▇▇. ▇, ▇▇▇▇

▇▇▇▇▇▇, ▇▇▇▇▇▇▇

▇▇▇▇ 3%, DMSL 1%

San ▇▇▇▇

Los ▇▇▇▇▇ Tres

214302

MGS

197.0000 Has.

Sep. 5, 2051

Tamazula, Durango

CTSL 3%, DMSL 1%

▇▇▇ ▇▇▇▇

▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇

▇▇▇▇▇▇

MGS

11.1640 Has.

▇▇▇. ▇▇, ▇▇▇▇

▇▇▇▇▇▇, ▇▇▇▇▇▇▇

▇▇▇▇ 3%, DMSL 1%

San ▇▇▇▇

Los Reyes Cinco

216632

MGS

319.9852 Has.

May 16, 2052

Cosalá, Sinaloa

CTSL 3%, DMSL 1%

San ▇▇▇▇

Los ▇▇▇▇▇ ▇▇▇▇

225122

MGS

427.6609 Has.

July 21, 2055

Cosalá, Sinaloa

DMSL 1%

San ▇▇▇▇

Los Reyes Siete

225123

MGS

4.8206 Has.

July 21, 2055

Cosalá, Sinaloa

DMSL 1%

San ▇▇▇▇

Los ▇▇▇▇▇ 8

226037

MGS

9.0000 Has.

Nov. 14, 2055

Cosalá, Sinaloa

CTSL 3%, DMSL 1%

San ▇▇▇▇

Los ▇▇▇▇▇ Fracc. Oeste

210703

MGS

476.9373 Has.

Nov. 17, 2049

Cosalá, Sinaloa

CTSL 3%, DMSL 1%

▇▇▇ ▇▇▇▇

▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇. ▇▇▇

▇▇▇▇▇▇

MGS

589.0985 Has.

Oct. 7, 2049

Cosalá, Sinaloa

CTSL 3%, DMSL 1%

San ▇▇▇▇

Los ▇▇▇▇▇ Fracc. Norte

212757

MGS

1,334.4710 Has.

Oct. 7, 2049

Cosalá, Sinaloa

CTSL 3%, DMSL 1%

San ▇▇▇▇

▇▇▇▇▇

177858

MGS

150.0000 Has.

Apr. 28, 2036

Cosalá, Sinaloa

SMG 2%; DMSL 1%

▇▇▇ ▇▇▇▇▇▇

▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇

▇▇▇▇▇▇

MGS

33.0000 Has.

Dec. 5, 2039

Cosalá, Sinaloa

SMG 2%; DMSL 1%

▇▇▇ ▇▇▇▇▇▇

▇▇▇ ▇▇▇▇▇▇

▇▇▇▇▇▇

MGS

11.7455 Has.

Dec. 13, 2039

Cosalá, Sinaloa

SMG 2%; DMSL 1%

▇▇▇ ▇▇▇▇▇▇

▇▇▇ ▇▇▇▇▇▇

▇▇▇▇▇▇

MGS

55.7681 Has.

Nov. 21, 2040

Cosalá, Sinaloa

SMG 2%; DMSL 1%

▇▇▇ ▇▇▇▇▇▇

▇▇ ▇▇▇▇▇ ▇▇▇▇▇

▇▇▇▇▇▇

MGS

50.0000 Has.

July 15, 2043

Cosalá, Sinaloa

SMG 2%; DMSL 1%

San ▇▇▇▇▇▇