Exhibit 10.8


 


ELEVENTH AMENDMENT TO CAMPBELL/SIMPSON TONKIN SPRINGS

VENTURE LIMITED PARTNERSHIP TONKIN MINERAL LEASE


 


This Amendment Number Eleven (“Amendment”), dated this
28 day of June, 1993 (“Effective Date”), is made to that certain Tonkin Mineral
Lease, dated January 1, 1986 (the “Lease”) between LYLE F. CAMPBELL, a
single man, and JULIAN E. SIMPSON and JEAN C. SIMPSON, husband and wife
(collectively, “Lessor”); TONKIN SPRINGS VENTURE LIMITED PARTNERSHIP (the “Lessee”);
and U.S. GOLD CORPORATION (“U.S. Gold”).


 


RECITALS


 


A.           The
United States Congress has amended the General Mining Law of 1872 to replace
the assessment work requirement for the assessment work years ending September 1,
1993 and September 1, 1994, with a claim rental fee of $200 per claim for
those two years. That fee must be paid on or before August 31, 1993.


 


B.             Articles
8 and 19 of the Lease currently require the Lessee to perform assessment work
on unpatented mining claims included within the Mineral Prospect if the Lease
is partially or wholly surrendered and terminated by the Lessee with respect to
those claims less than 90 days prior to the end of the then-current assessment
work year.


 


C.             Lessor
and Lessee agree that it is to their mutual benefit to reduce the
above-described 90-day period, but for the assessment work years ending in 1993
and 1994 only.


 


NOW, THEREFORE, in consideration of the mutual
benefits to be obtained by Lessor and Lessee pursuant to this Amendment, Lessor
and Lessee hereby agree as follows:


 

















 


1.               Notwithstanding
the provisions of Articles 8 and 19 of the Lease, Lessee shall be entitled to
release unpatented mining claims included within the Mineral Prospect without
being obligated to perform assessment work or pay claim rental fees, but only
as to the claims so released, if such release is provided in writing as
provided in Article 19 of the Lease on or before midnight, Pacific
Daylight Time, July 31, 1993. This paragraph 1 applies only to the
assessment work years ending on September 1, 1993 and September 1, 1994.


 


2.               U.S.
Gold hereby guarantees the proper performance by Lessee of all restoration and
reclamation requirements and obligations under Article 14 of the Lease.


 


3.               Except
as expressly amended above, the Lease shall remain in full force and affect in
accordance with its original terms as modified by the ten (10) prior
amendments.


 


4.               Nothing
herein shall be construed or is intended to release Lessee from its obligations
to pay said fees and to perform assessment work that is necessary to maintain
the claims, as to any unpatented mining claims not released from the Lease on
or before July 31, 1993 as provided in paragraph 1 above.


 


IN WITNESS WHEREOF, the parties have executed this
ELEVENTH (11th) AMENDMENT as if the date first above written.


 


	
   

  	
   

  	
  LESSOR:

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  LYLE
  F. CAMPBELL TRUST

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By

  	
  /s/
  Lyle F. Campbell

  
	
   

  	
   

  	
   

  	
  Lyle
  F. Campbell, Trustee

  



 


2

















 


	
   

  	
   

  	
  JULIAN
  E. SIMPSON

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/
  Julian E. Simpson

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  JEAN
  C. SIMPSON

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/
  Jean C. Simpson

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  LESSEE:

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  TONKIN
  SPRINGS GOLD MINING COMPANY, for itself and as General Partner for TONKIN
  SPRINGS VENTURE LIMITED PARTNERSHIP

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By

  	
  /s/
  William W. Reid

  
	
   

  	
   

  	
   

  	
  William
  W. Reid, President

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  U.S.
  GOLD CORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By

  	
  /s/
  William W. Reid

  
	
   

  	
   

  	
   

  	
  William
  W. Reid, President

  



 


	
  STATE OF NEVADA

  	
  )

  
	
   

  	
  )
  ss.

  
	
  COUNTY OF WASHOE

  	
  )

  



 


Before me personally appeared Lyle F. Campbell,
Trustee of the Lyle F. Campbell Trust, on this 28th day of June,
1993, and executed the above ELEVENTH AMENDMENT TO CAMPBELL/SIMPSON TONKIN
SPRINGS VENTURE LIMITED PARTNERSHIP TONKIN MINERAL LEASE and acknowledged to me
that he executed the same in that capacity.


 


Witness my hand and official seal.


 


	
  My commission expires:

  	
  March 8,
  1997

  	
   

  
	
  (seal)

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
  /s/
  Pamela C. Ponton

  	
   

  
	
   

  	
   

  	
  NOTARY PUBLIC

  	
   

  
					



 


	
  (SEAL)

  	
  NOTARY PUBLIC 

  STATE OF NEVADA

  County of Washoe

  Pamela C. Ponton

  My Appointment Expires Mar. 8, 1997

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  



 


3

















 


	
  STATE OF HAWAII

  	
  )

  
	
   

  	
  )
  ss.

  
	
  COUNTY OF MAUI

  	
  )

  



 


Before me personally appeared Julian E. Simpson on
this 25th day of June, 1993, and executed the above ELEVENTH
AMENDMENT TO CAMPBELL/SIMPSON TONKIN SPRINGS VENTURE LIMITED PARTNERSHIP TONKIN
MINERAL LEASE.


 


Witness my hand and official seal.


 


	
  My
  commission expires: 06/06/95

  	
   

  
	
  (seal)

  	
   

  
	
   

  	
   

  	
  /s/ [ILLEGIBLE]

  	
   

  
	
   

  	
   

  	
  NOTARY PUBLIC

  	
   

  
					



 


(SEAL) Affixed


 


	
  STATE OF HAWAII

  	
  )

  
	
   

  	
  )
  ss.

  
	
  COUNTY OF MAUI

  	
  )

  



 


Before me personally appeared Jean C. Simpson on this
25th day of June, 1993, and executed the above ELEVENTH AMENDMENT TO
CAMPBELL/SIMPSON TONKIN SPRINGS VENTURE LIMITED PARTNERSHIP TONKIN MINERAL
LEASE.


 


Witness my hand and official seal.


 


	
  My
  commission expires: 06/06/95

  	
   

  
	
  (seal)

  	
   

  
	
   

  	
   

  	
  /s/ [ILLEGIBLE]

  	
   

  
	
   

  	
   

  	
  NOTARY PUBLIC

  	
   

  
					



 


(SEAL) Affixed


 


	
  STATE OF 

  	
  )

  
	
   

  	
  )
  ss.

  
	
  COUNTY OF 

  	
  )

  



 


Before me personally appeared William W. Reid,
President of TONKIN SPRINGS GOLD MINING COMPANY, for itself and as General
Partner for TONKIN SPRINGS VENTURE LIMITED PARTNERSHIP on this 12th
day of July, 1993, and executed the above ELEVENTH AMENDMENT TO
CAMPBELL/SIMPSON TONKIN SPRINGS VENTURE LIMITED PARTNERSHIP TONKIN MINERAL
LEASE, and acknowledged to me that he executed the same in that capacity.


 


Witness my hand and official seal.


 


	
  My
  commission expires: 3-25-96

  	
   

  
	
  (seal)

  	
   

  
	
   

  	
   

  	
  /s/ Sandra J. Harden

  	
   

  
	
   

  	
   

  	
  NOTARY PUBLIC

  	
   

  
					



 


(SEAL Affixed)


 


4

















 


	
  STATE OF 

  	
  )

  
	
   

  	
  )
  ss.

  
	
  COUNTY OF 

  	
  )

  



 


Before me personally appeared William W. Reid,
President of U.S. GOLD CORPORATION, on this 12th day of July, 1993,
and executed the above ELEVENTH AMENDMENT TO CAMPBELL/SIMPSON TONKIN SPRINGS
VENTURE LIMITED PARTNERSHIP TONKIN MINERAL LEASE, and acknowledged to me that
he executed the same in that capacity.


 


Witness my hand and official seal.


 


	
  My
  commission expires: 3-25-96

  	
   

  
	
  (seal)

  	
   

  
	
   

  	
   

  	
  /s/ Sandra J. Harden

  	
   

  
	
   

  	
   

  	
  NOTARY PUBLIC

  	
   

  
					



 


(SEAL Affixed)


 


	
   

  	
   

  	
   

  	
  BOOK 264 PAGE 024

  OFFICIAL RECORDS

  RECORDED AT THE REQUEST OF 

  Tonkin Springs

  ’94 JAN 27 P2:06

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  EUREKA COUNTY, NEVADA

  M.N. REBALEATI, RECORDER

  FILE NO.                     FEE
  $11.00

  150214                

  



 


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