Exhibit
      10.1

    DRILLING
      CONTRACT

     

    Made
      this
      24th
      day of
      June, 2008

     

     

    
      	Between	
              Silver
                Reserve Corp.
                a
                Delaware corporation

              1135
                Terminal Way, Suite 207 B

              Reno
                Nevada 89502

              Phone  
                775-322-4448

              Fax       775-322-4458

              (herein
                called “Silver Reserve”)

            
	 	 
	And	Christiansen
              Drilling, Inc.
              a
              Nevada corporation
              557
                Ely Avenue

              Ely
                Nevada 89301

              Phone  
                775-289-4525

              Fax       775-289-6053

              (herein
                called “Christiansen”)

            


    

     

    Whereas
      Christiansen
      provides drilling services to the exploration and mining industry;
      and

    


    Whereas
      Silver
      Reserve wishes to employ the services of Christiansen to carry out a substantial
      amount of drilling on it projects in Nevada;

    


    Now
      Therefore
      based on
      the terms and conditions set out herein the parties hereto agree as
      follows;

    


    Christiansen
      will provide its drilling services as directed by Silver Reserve on the
      following terms and conditions;

     

    
      	
            	1.	
              Reverse
                Circulation (RC) Drilling will be conducted @ an hourly rate of $500.00
                per hr. with a 3-man crew. Sampling will be taken as directed by
                the
                on-site Geologist.

            


    

    


    
      	
            	2.	
              Equipment
                Mobilization & Demobilization.

            


    

    


    
      	 a.	
               SD-40
                Reverse Circulation Rig @ $150.00 per
                hr.

            


    

    


    
      	b.	
               Water
                & support trucks mobilization, demobilization & rental will be
                charged at a rate of $150.00 per hour while in use
                only.

            


    

    


    
      	
            	3.	
              Grading
                & site preparation by a Caterpillar D7-G Tractor will be charged at
                the rate of $150.00 per hour.

            


    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	a.
              	
               Caterpillar
                tractor transportation to the project site & return will be charged at
                a rate of $150.00 per hour, which will include a “pilot”
                car.

            


    

    


    
      	
            	4.	
              Drilling
                materials such as cement, casing, bits, wiper rubbers, drilling liquids,
                and sealers will be billed to the Operator at Christiansen Drilling,
                Inc.
                Invoice cost plus 10%.

            


    

    


    
      	
            	5.	
              Hole
                Plugging(s) per Nevada State Regulation: Setting casing & cementing,
                if required, will be charged at a rate of $350.00 per hour plus
                materials.

            


    

    


    
      	
            	6.	
              Drilling
                crew, cat operator, & on-site supervisors, travel time to & from
                the project site will be charged @ the rate of .75 cents per mile/per
                man.

            


    

    


    
      	
            	7.	
              Per
                Diem for drilling crew, cat operator, & on-site supervisors will be
                charged at the rate of $40.00 per day/per man plus motel
                accommodations.

            


    

    


    
      	
            	8.	
              Operator
                agrees to reimburse Contractor at 50% of cost for drill steel, hammer
                & interchange in the event that they are damaged or cannot be
                recovered during the drilling operations. Operator agrees to reimburse
                Contractor at invoice cost less 15% if Operator requires Contractor
                to
                continue drilling should hole conditions jeopardize loss of drilling
                tools. The daily “Drill Log” must be signed by the Operator’s
                Representative.

            


    

    


    
      	
            	9.	
              Drill
                Rig standby with crew at the request of Operator will be charged
                at the
                rate of $250.00 per hour based on an 8-hour
                day.

            


    

     

    
      
        
          	
                	10.	
                  Drilling
                    operations will operate at least 8 hours per-day (10 days on
& 4-days
                    off) or a schedule that is agreeable to both
                    parties.

                


        

      

    

     

    Christiansen
      will invoice not more than twice monthly on the 1st
      and
      15th
      of each
      month and payments will be made on the 15th
      of a
      month for invoices received on the 1st
      of a
      month and on the 1st
      of the
      following month for invoices received on the 15th
      of the
      preceding month.

    


    Silver
      Reserve agrees to provide a $50,000.00 advance payment against work to be
      carried out which shall be credited against the final invoice or invoices of
      the
      drill program or programs. Said advance payment shall be made on execution
      of
      the Drilling Contract.

    


    All
      drilling and other work carried out by Christiansen shall be done in a workman
      like manner in compliance with regulation governing drilling or other work
      in
      the State of Nevada.

    


    Christiansen
      shall maintain liability and workman compensation coverage in the amounts set
      out in the certificate delivered to Silver Reserve at all times while working
      for Silver Reserve and undertakes to notify or cause its insurance company
      to
      notify Silver Reserve of any interruption or cancellation of the insurance
      coverage as presented.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    During
      the term of this Contract, and thereafter, Christiansen shall not, without
      the
      prior written consent of Silver Reserve, disclose to anyone any Confidential
      Information. "Confidential Information" for the purposes of this Contract shall
      include proprietary and confidential information such as, but not limited to,
      drilling results, assay reporting, tonnage calculations or production plans.
      Confidential Information shall not include any information that:

    


    A.   
      is disclosed by Silver Reserve without restriction;

    


    B.    becomes
      publicly available through no act of Christiansen

    


    C.   
      is
      rightfully received by Christiansen from a third party.

     

    
      This
        Contract constitutes the final understanding and agreement between the parties
        with respect to the subject matter hereof and supersedes all prior negotiations,
        understandings and agreements between the parties, whether written or oral.
        This
        Contract may be amended, supplemented or changed only by an agreement in
        writing
        signed by both of the parties.

      


      This
        Agreement may be executed in multiple counterparts, each of which shall
        be deemed an original, and all of which together shall constitute one and
        the same instrument. Execution and delivery of this Agreement by exchange
        of
        facsimile copies bearing facsimile signature of a party shall constitute
        a valid
        and binding execution and delivery of this Agreement by such party. Such
        facsimile copies shall constitute enforceable original documents.

       

    

    IN
      WITNESS WHEREOF the parties have executed this Agreement effective as of the
      date first written above.

     

     

    
      	Silver Reserve
              Corp.	Christiansen Drilling,
              Inc.
	 	 
	 	 
	By_______________________	By                                               
              
	 	 
	 	 
	
                                                         

            	                                         
              
	
              Title

            	
              Title

            


    

     

    


    
      
        
        

      

      
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