Termination
            Agreement 

           

          El
            Capitan Precious Metals, Inc., a Nevada corporation (the “Company”) and Charles
            C. Mottley (the “Consultant”) entered into a Consulting Agreement (the
“Agreement”) as of October 1, 2007. The Company and the Consultant now wish to
            terminate the Agreement as follows:

           

          
            	
                  	1.	
                    Mutual
                      Termination.
                      The Company and the Consultant have mutually agreed to terminate
                      the
                      Agreement.

                  


          

           

          
            	
                  	2.	
                    Termination
                      Date.
                      The termination date of the Agreement shall be as of June 1,
                      2008.

                  


          

           

          
            	
                  	3.	
                    Consideration.
                      Consultant has requested and the Company has agreed that as
                      consideration
                      for the termination of the Agreement the following, which in
                      the aggregate
                      shall constitute full and final payment of all amounts due
                      to the
                      Consultant by the Company, whether under the Agreement or
                      otherwise:

                  


          

           

          
            	
                  	a.	
                    The
                      Company shall cause 445,833 shares of its common stock, restricted
                      as to
                      Regulation 144, be issued to the Consultant. The stock will
                      be valued at
                      $0.5863 per share representing $261,403.54 in total;
                      and,

                  


          

           

          
            	
                  	b.	
                    Company
                      shall convey to Consultant as of June 30, 2008 the Company
                      property listed
                      on Schedule A hereto as of June 30, 2008, valued in the aggregate
                      at
                      $5,453.86; and,

                  


          

           

          
            	
                  	c.	
                    The
                      amount of $642.60 due to the Company from the Consultant shall
                      be applied
                      as part of the Consideration due under this Termination
                      Agreement.

                  


          

           

          
            	
                  	4.	
                    Confidentiality.
                      The Company acknowledges that all Confidential Information
                      it has provided
                      to Consultant pursuant to the Agreement has been returned to
                      the
                      Company.

                  


          

           

          
            	
                  	5.	
                    General
                      Provisions.

                  


          

           

          
            (a)
              Governing
              Law.
              The laws
              of Nevada will govern the validity, construction, and performance of
              this
              Termination Agreement, without regard to any choice of law or conflict
              of law
              rules and regardless of the location of any arbitration under this
              Termination
              Agreement. 

          

           

          
            (b)
              Construction.
              Wherever possible, each provision of this Termination Agreement will
              be
              interpreted so that it is valid under the applicable law. If any provision
              of
              this Termination Agreement is to any extent invalid under the applicable
              law,
              that provision will still be effective to the extent it remains valid.
              The
              remainder of this Termination Agreement also will continue to be valid,
              and the
              entire Termination Agreement will continue to be valid in other
              jurisdictions. 

          

           

          
            (c)
              No
              Waiver.
              No
              failure or delay by either the Company or Consultant in exercising
              or enforcing
              any right or remedy under this Termination Agreement will waive any
              provision of
              the Termination Agreement. Nor will any single or partial exercise
              by either the
              Company or Consultant of any right or remedy under this Termination
              Agreement
              preclude either of them from otherwise or further exercising these
              rights or
              remedies, or any other rights or remedies granted by any law or any
              related
              document. 

          

           

          
            (d)
              Captions.
              The
              headings in this Termination Agreement are for convenience only and
              shall not
              affect this Termination Agreement’s interpretation.

          

           

          
            (e)
              References.
              Except
              as otherwise required or indicated by the context, all references to
              Sections in
              this Termination Agreement refer to Sections of this Termination
              Agreement.

          

           

          
            (f)
              Entire
              Agreement.
              This
              Termination Agreement supersedes all previous and contemporaneous oral
              negotiations, commitments, writings, and understandings between the
              parties
              concerning the matters in this Termination Agreement. In the case of
              any
              conflict between the terms of this Termination Agreement and any other
              agreement, writing or understanding, this Termination Agreement will
              control. 

          

           

          
            (g)
              Notices.
              Any
              notice to be given shall be sufficiently given when received, and,
              if mailed,
              shall be deemed received three (3) business days after the date of
              mailing if
              sent by certified mail, postage prepaid, to the address of the party
              set forth
              below (or to such other address as the party shall designate by written
              notice).

          

           

          
            
               

            

            
               

              
                

              

            

            
               

            

          

           

          
            	
                    If
                      to the Company, to:

                  	
                    El
                      Capitan Precious Metals, Inc.

                  
	 	
                    1325
                      Airmotive Way, Suite 276

                  
	 	
                    Reno,
                      NV 89502

                  
	 	
                    Attention:
                      Chief Financial Officer

                  
	 	
                    Facsimile:
                      (775) 201-0168

                  
	 	 
	
                    If
                      to Consultant, to:

                  	
                    Charles
                      C. Mottley

                  


          

          


          (h) Severability.
            The
            invalidity or unenforceability of one or more provisions of this Termination
            Agreement shall not affect the validity or enforceability of any of the
            other
            provisions, and this Termination Agreement shall be construed as if such
            invalid
            or unenforceable provisions were omitted. If any provision is unenforceable
            because it is overbroad, the parties agree that such provision shall
            be limited
            to the extent necessary to make it enforceable, it being the intent of
            the
            parties that provisions of this Termination Agreement be enforced to
            the maximum
            extent possible.

           

          (i) Counterparts.
            This
            Termination Agreement may be executed in any number of counterparts,
            all of
            which taken together shall constitute one agreement binding on all parties.
            Each
            party shall become bound by this Termination Agreement immediately upon
            signing
            any counterpart, independently of the signature of any other party. In
            making
            proof of this Termination Agreement, however, it will be necessary to
            produce
            only one copy signed by the party to be charged.

           

          IN
            WITNESS WHEREOF, the undersigned Consultant and the Company have executed
            this
            Termination Agreement effective as of the Effective Date.

           

          
            	
                    El
                      Capitan Precious Metals, Inc.

                  
	
                    a
                      Nevada corporation

                  
	 	 
	
                    By:

                  	
                    /s/
                      R. William Wilson

                  
	 	
                    R.
                      William Wilson

                  
	
                    Its:
                      

                  	
                    Chief
                      Financial Officer

                  
	 	 
	/s/
                    Charles C. Mottley
	Charles
                    C. Mottley