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                                                                EXHIBIT 10.(XXX)

       Term Sheet for Royal Gold / Nevada Manhattan Mining Agreement and
                               Option to Purchase

                                November 25, 1997

1.   Royal Gold will be granted an exclusive exploration and development option,
     and an option to purchase  all of Nevada  Manhattan's  properties  and / or
     interests  in  the  Manhattan   district   (excluding  at  this  time,  the
     underground  development  project  known as "White Caps" - we would have to
     define White Caps in terms of side lines and depth, etc.).

2.   The term of the agreement  shall be three years,  renewable for  successive
     terms of three years,  provided  that Royal Gold is  continuing  to perform
     exploration work. The agreement shall also be extendable  indefinitely,  to
     the extent that Royal Gold (or its  successors  or  assigns)  is  achieving
     production  in  commercial  quantities,   or  is  engaged  in  reclamation.
     Agreement term is not to exceed, however, 99 years.

3.   As to the  underground  development  project  known as White  Caps,  Nevada
     Manhattan shall undertake  that,  throughout the term of the Agreement,  it
     shall  extend to Royal Gold a first  right of  refusal  to  acquire  all of
     Nevada  Manhattan's  interest in White Caps on terms  acceptable  to Nevada
     Manhattan.

4.   Royal Gold will commit to a work  expenditure  requirement  of $100,000 per
     year, excess expenditures in any one year shall be applied against the work
     expenditure requirement in succeeding year(s).

5.   Royal Gold will pay all unpatented mining claim maintenance  payments,  and
     will pay all  property  taxes on the  patented  mining  claims,  and all ad
     valorem  taxes on any  improvements  thereon.  Each of the parties will pay
     their separate  shares of any net proceeds of mines taxes, or any severance
     taxes.

6.   As to its  production  from any part of the  property,  Royal  Gold (or its
     successors and assigns) will pay to Nevada  Manhattan a net smelter returns
     royalty  that shall be  calculated  at 4% NSR if the  property is otherwise
     unburdened  by  royalty;  if the  property  is already  burdened by royalty
     interest(s)  held by others,  then the royalty payable to Nevada  Manhattan
     shall be 4% NSR less one-half of the underlying  burden.  (That is, if some
     portion  of the  property  is already  burdened  by a 3% NSR,  the  royalty
     payable to Nevada  Manhattan on such portion of the property  shall be 2.5%
     NSR (4% - 1.5%); Nevada Manhattan shall also bear one-half of the burden of
     any federal royalty that may be hereafter  imposed upon production from the
     leased property.)

7.   The option to purchase all of Nevada  Manhattan's  interest in the property
     subject to the  Agreement  may be  exercised at any time during the term of
     the Agreement upon Royal Gold's  payment to Nevada  Manhattan of the sum of
     $5 million,  less all prior payments to Nevada  Manhattan of any production
     royalties.

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8.   From and after the date of this  Term  Sheet,  the  parties  will  agree to
     confer  regarding the content and timing of all press releases  relating to
     Nevada Manhattan's properties.

9.   During the term of the Agreement,  either party may assign its interests to
     any third party,  subject to the other party's  approval,  not unreasonably
     withhold  (that is,  subject to a technical  competence/financial  capacity
     analysis).

10.  Closing of the transaction is subject to customary title and  environmental
     diligence,  and documentation in a form satisfactory to both parties. (That
     is, this Term Sheet is not a binding  agreement - except for the  provision
     relating to consensual press releases - only the definitive agreement shall
     be binding.)  Royal Gold would engage  Thomas P. Erwin,  Esq., to represent
     Royal Gold's interests,  subject to the prior waiver by Nevada Manhattan of
     any conflict of interest implicated by such representation.

11.  Royal Gold is aware of the pendency of Case No. 13982 in the Fifth Judicial
     District  Court of Nevada (Nye  County),  styled  Nevada  Manhattan  Mining
     Incorporated v. Harvey, et al.



ROYAL GOLD, INC.

         /s/ Peter B. Babin
BY:      _______________________
         Peter B. Babin, President

NEVADA MANHATTAN MINING, INC.

         /s/ Jeffrey S. Kramer
BY:      _______________________
         Jeffrey S. Kramer, Chief Operating Officer