Exhibit
4.27
 SETTLEMENT AGREEMENT AND RELEASE
 
 
    
    Trend Mining Company (Trend) and
Aurora Metals (BVI) Limited (Aurora)
  
 
    
    Joint Venture Agreement (Jan. 1, 2005) (JVA)
between Aurora and Trend covering two leases
covering patented and unpatented mining
claims, mill sites, and tunnel sites, as
described in the attached form of Deed (the
Subject Leases and the Subject Mining Claims),
in Stillwater and Sweet Grass Counties,
Montana, as follows:
 a)
    
    The Basal Zone
Lease Agreement
Stillwater Complex,
Montana (Jan. 1, 2004)
by William G. Mouat,
and others, as
lessors, and Aurora
Metals (BVI) Limited,
as lessee, andb)
    
    The Mountain View
Lease Agreement
Stillwater Complex,
Montana (Feb. 1, 2004)
by William G. Mouat
and others, lessors,
and Aurora Metals
(BVI) Limited, lessee.
   
 
    
    Aurora Metals (BVI) Limited, Plaintiff, vs.
Trend Mining Company, Defendant, Cause No. DV
07 93, Montana 22nd Judicial District Court,
Stillwater County, District Judge Blair Jones.
   
 
    
    The JVA and all interests of the parties in
the Area of Interest defined by the JVA, the
Subject Leases, the Subject Mining Claims
(described above), and all scientific,
technical, engineering, operational, economic,
financial, marketing, and other information,
and data of any nature whatsoever relating to
the Subject Leases, the Subject Mining Claims.
   
 
    
    $50,000.00 paid by Aurora to Trend (the
settlement amount) in exchange for Trends
Deed to Aurora covering all of Trends right,
title, and interest in the Subject Properties
described above.
  Settlement Terms
 1




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##### 



Release
 No Additional Claims
 Stipulation for Dismissal With Prejudice
 Disclaimer
 Confidentiality
 2




---



##### 



Non-Compete
 Counterparts and Electronic Versions
  3




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##### 



11
 TREND MINING COMPANYBy
Its
    
    signed John P. Ryan

Vice President & Director
 APPROVED BY:Signed Jason S. Richie

Jason S. Ritchie
Holland and Hart, LLP
401 N. 31st St., Ste. 1500
P.O. Box 639
Billings, MT 59103-0639
Attorneys for Trend Mining Company
 
 AURORA METALS (BVI) LIMITEDBy
Its
    
    signed A.C. Richardson

President & Director
 APPROVED BY:signed Chris Mangen

Chris Mangen, Jr.
Crowley, Haughey, Hanson,
Toole & Dietrich pllp
490 N. 31st St., Ste. 500
P. O. Box 2529
Billings, MT 59103-2529
Attorneys for Aurora Metals (BVI) Limited
 4




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##### 



State of South Carolina): ss.County of Beaufort)
 11 JOHN RYAN Vice President
 Mildred B Brown(Seal)
    
    (Printed or Typed Name) Mildred B Brown
Notary Public for the State of South Carolina
Residing at Bluffton, SC
My commission expires 11-22, 2015
 Province of BRITISH COLUMBIA ): ss.County of VANCOUVE)
 11 A.C. RICHARDSON PRESIDENT
 signed PETER N. CRAWFORD(Seal)
    
    (Printed or Typed Name) Peter N. Crawford
Notary Public for the Province of BRITISH COLUMBIA
Residing at 5620 Yew Street, Vancouver, BC
My commission does not expire
 5




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##### 



Exhibit A
 Form of Deed
 6




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##### 



DEED
  st
  Basal Zone Lease Agreement
 Mountain View Lease Agreement
 Joint Venture Agreement).
 Lease
Agreements
 7




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##### 



Exhibit A Subject Properties
   8




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##### 



Aurora Metals (BVI) Limited, Plaintiff, vs. Trend Mining Company, Defendant
  14
 TREND MINING COMPANYSigned John P. RyanBy
Its
    
    John P. Ryan

Vice President * Director
 State of South Carolina): ss.County of Beaufort)
 14 John Ryan Vice President
 signed Robert Cosgrove(Seal)
    
    (Printed or Typed Name) Robert CosgroveNotary Public for the State of SOUTH CAROLINAResiding at Hilton Head, South CarolinaMy commission expires April 29, 2012
 9




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##### 



PATENTED LODE AND PLACER CLAIMS IN STILLWATER COUNTY, MONTANA
 Mineral Claim
    
    
    
    BLM MontanaName
    
    Status
    
    Mineral Claim No.1
    
    Bald Eagle
    
    Patented East Stillwater River
    
    MSN       69D
 SCHEDULE
2  MOUNTAIN VIEW LEASE AGREEMENT
LODE AND PLACER CLAIMS FOR WHICH PATENT HAS BEEN APPLIED FOR IN
STILLWATER COUNTY, MONTANA
 Mineral Claim
    
    
    
    BLM MontanaName
    
    Status
    
    Mineral Claim No.1
    
    AMY 19
    
    Patent Applied For Mountain View
    
    MMC     102092
    
    AMY 20
    
    Patent Applied For Mountain View
    
    MMC     102103
    
    AMY 21
    
    Patent Applied For Mountain View
    
    MMC     102114
    
    SUSU 25
    
    Patent Applied For Mountain View
    
    MMC     535895
    
    SUSU 28
    
    Patent Applied For Mountain View
    
    MMC     535926
    
    SUSU 29
    
    Patent Applied For Mountain View
    
    MMC     535937
    
    Mouat 1 Lode
    
    Patent Applied For Mountain View
    
    MMC  1864048
    
    Mouat 2 Lode
    
    Patent Applied For Mountain View
    
    MMC  1864059
    
    Mouat 3 Lode
    
    Patent Applied For Mountain View
    
    MMC  18640610
    
    Mouat 4 Lode
    
    Patent Applied For Mountain View
    
    MMC  18640711
    
    Mouat 5 Lode
    
    Patent Applied For Mountain View
    
    MMC  18640812
    
    Mouat 6 Lode
    
    Patent Applied For Mountain View
    
    MMC  18640913
    
    Mouat 7 Lode
    
    Patent Applied For Mountain View
    
    MMC  18641014
    
    Mouat 8 Lode
    
    Patent Applied For Mountain View
    
    MMC  18641115
    
    Mouat 9 Lode
    
    Patent Applied For Mountain View
    
    MMC  18641216
    
    Mouat 10 Lode
    
    Patent Applied For Mountain View
    
    MMC  18641317
    
    Mouat 11 Lode
    
    Patent Applied For Mountain View
    
    MMC  18641418
    
    Mouat 12 Lode
    
    Patent Applied For Mountain View
    
    MMC  18641519
    
    Mouat 13 Lode
    
    Patent Applied For Mountain View
    
    MMC  18641620
    
    Mouat 14 Lode
    
    Patent Applied For Mountain View
    
    MMC  18641721
    
    Lake Placer
    
    Patent Applied For Mountain View
    
    MMC  189232
 10




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##### 



SCHEDULE
3  MOUNTAIN VIEW LEASE AGREEMENT  UNPATENTED LODE AND PLACER CLAIMS IN STILLWATER COUNTY, MONTANA
 Mineral Claim
    
    
    
    BLM MontanaName
    
    Status
    
    Mineral Claim No.1
    
    AMY 1
    
    Unpatented West Stillwater River
    
    MMC    101912
    
    AMY 2
    
    Unpatented West Stillwater River
    
    MMC    101923
    
    AMY 3
    
    Unpatented West Stillwater River
    
    MMC    101934
    
    AMY 13
    
    Unpatented West Stillwater River
    
    MMC    102035
    
    AMY 14
    
    Unpatented West Stillwater River
    
    MMC    102046
    
    AMY 15
    
    Unpatented West Stillwater River
    
    MMC    102057
    
    AMY 16
    
    Unpatented West Stillwater River
    
    MMC    102068
    
    AMY 17
    
    Unpatented West Stillwater River
    
    MMC    102079
    
    AMY 18
    
    Unpatented West Stillwater River
    
    MMC    1020810
    
    AMY 25
    
    Unpatented West Stillwater River
    
    MMC    1021211
    
    Amy 133
    
    Unpatented West Stillwater River
    
    MSN      1730212
    
    Gypsum Placer
    
    Unpatented West Stillwater River
    
    MMC    3515613
    
    Duke Placer
    
    Unpatented West Stillwater River5/8th Interest.  No Buildings.
    
    MMC    3515714
    
    ANN #1
    
    Unpatented West Stillwater River
    
    MMC    3595815
    
    ANN #2
    
    Unpatented West Stillwater River
    
    MMC    3595916
    
    ANN 3 fr.
    
    Unpatented West Stillwater River
    
    MMC    3596017
    
    ANN 4
    
    Unpatented West Stillwater River
    
    MMC    3596118
    
    ANN 4A
    
    Unpatented West Stillwater River
    
    MMC    3596219
    
    ANN 5
    
    Unpatented West Stillwater River
    
    MMC    3596320
    
    ANN 5A
    
    Unpatented West Stillwater River
    
    MMC    3596421
    
    ANN 6
    
    Unpatented West Stillwater River
    
    MMC    3596522
    
    ANN 6A
    
    Unpatented West Stillwater River
    
    MMC    3596623
    
    ANN 7
    
    Unpatented West Stillwater River
    
    MMC    3596724
    
    ANN 8
    
    Unpatented West Stillwater River
    
    MMC    3596825
    
    ANN 9
    
    Unpatented West Stillwater River
    
    MMC    3596926
    
    ANN 10
    
    Unpatented West Stillwater River
    
    MMC    3597027
    
    ANN 28
    
    Unpatented West Stillwater River
    
    MMC    3598828
    
    ANN 29
    
    Unpatented West Stillwater River
    
    MMC    3598929
    
    ANN 30
    
    Unpatented West Stillwater River
    
    MMC    3599030
    
    ANN 44
    
    Unpatented West Stillwater River
    
    MMC    3600431
    
    GAY 1
    
    Unpatented West Stillwater River
    
    MMC    3628132
    
    GAY 2
    
    Unpatented West Stillwater River
    
    MMC    3628233
    
    GAY 6
    
    Unpatented West Stillwater River
    
    MMC    3628634
    
    GAY 7
    
    Unpatented West Stillwater River
    
    MMC    3628735
    
    GAY 11
    
    Unpatented West Stillwater River
    
    MMC    3629136
    
    GAY 12
    
    Unpatented West Stillwater River
    
    MMC    3629237
    
    GAY 15
    
    Unpatented West Stillwater River
    
    MMC    3629538
    
    GAY 16
    
    Unpatented West Stillwater River
    
    MMC    36296
  11




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##### 



SCHEDULE
3  MOUNTAIN VIEW LEASE AGREEMENT
UNPATENTED LODE AND PLACER CLAIMS IN STILLWATER COUNTY, MONTANA
 Mineral Claim
    
    
    
    BLM MontanaName
    
    Status
    
    Mineral Claim No.39
    
    Mountain View Chrome Co.
    
    Unpatented West Stillwater River
    
    MMC    3637640
    
    Ely Placer
    
    Unpatented West Stillwater River
    
    MMC    3637941
    
    No. 5 Tunnel & Tunnel Site
    
    Unpatented West Stillwater River
    
    MMC    3638042
    
    MALO
    
    Unpatented West Stillwater River
    
    MMC    3638443
    
    Red Bird No. 3
    
    Unpatented West Stillwater River
    
    MMC    3639644
    
    CHAS F.
    
    Unpatented West Stillwater River
    
    MMC    3640845
    
    Joan I
    
    Unpatented West Stillwater River
    
    MMC    3641346
    
    Verdi Placer
    
    Unpatented West Stillwater River
    
    MMC    3643047
    
    SUSU 22
    
    Unpatented West Stillwater River
    
    MMC    5358648
    
    SUSU 23
    
    Unpatented West Stillwater River
    
    MMC    5358749
    
    SUSU 24
    
    Unpatented West Stillwater River
    
    MMC    5358850
    
    SUSU 26 (1)
    
    Unpatented West Stillwater River
    
    MMC    5359051
    
    SUSU 27
    
    Unpatented West Stillwater River
    
    MMC    5359152
    
    AMY fr.
    
    Unpatented West Stillwater River
    
    MMC    7892853
    
    GAY fr.
    
    Unpatented West Stillwater River
    
    MMC    7892954
    
    NEW 13
    
    Unpatented West Stillwater River
    
    MMC    8465555
    
    Red Bird # 4
    
    Unpatented West Stillwater River
    
    MMC    3639756
    
    Mill Site 69E
    
    Unpatented West Stillwater River
    
    MSN   156775
 SCHEDULE
4  MOUNTAIN VIEW LEASE AGREEMENT
WATER RIGHTS STILLWATER RIVER VALLEY AREA,
STILLWATER COUNTY, MONTANA
 Lessors Water Right Number
    
    43C-W-189530-00Source
    
    Mountain View Lake  SW 1/4 NE1/4 Sec. 20, Twp. 5S,
Rge. 15E M.P.M, Stillwater County, MontanaIndicated Flow Rate:
    
    1.34 CFSIndicated Volume
    
    486.27 acre feet per yearPurpose (Use):
    
    IndustrialLessors Water Right Number:
    
    43C-W-189532-00Source:
    
    Verdigris Creek  S1/2 SW1/4 NE1/4 Sec. 20, Twp. 5S,
Rge. 15E M.P.M, Stillwater County, MontanaIndicated Flow Rate:
    
    0.09 CFSIndicated Volume
    
    49.79 acre feet per yearPurpose (Use):
    
    Domestic (multiple)
  12




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##### 



SCHEDULE 1  BASAL ZONE LEASE AGREEMENT
PATENTED LODE AND PLACER CLAIMS IN STILLWATER COUNTY, MONTANA
 Mineral Claim
    
    
    
    BLM MontanaName
    
    Status
    
    Mineral Claim No.1
    
    Nio Placer
    
    Patented East Stillwater River
    
    MSN   107832
    
    Chrome
    
    Patented East Stillwater River
    
    MSN   107813
    
    Lookover
    
    Patented East Stillwater River
    
    MSN   107814
    
    Jackson
    
    Patented East Stillwater River
    
    MSN   107815
    
    Gabbro
    
    Patented East Stillwater River
    
    MSN   107816
    
    Pada #1
    
    Patented East Stillwater River
    
    MSN   107827
    
    Pada #2
    
    Patented East Stillwater River
    
    MSN   107828
    
    Big Ben
    
    Patented East Stillwater River
    
    MSN   107829
    
    Lucky T
    
    Patented East Stillwater River
    
    MSN   1078210
    
    L.T.X.
    
    Patented East Stillwater River
    
    MSN   1078211
    
    H.E.D.
    
    Patented East Stillwater River
    
    MSN   1078212
    
    Copper
    
    Patented East Stillwater River
    
    MSN   1078213
    
    Gold Tip
    
    Patented East Stillwater River
    
    MSN   1078214
    
    Beauty
    
    Patented East Stillwater River
    
    MSN   1078215
    
    Patent
    
    Patented East Stillwater River
    
    MSN   1078216
    
    Opal
    
    Patented East Stillwater River
    
    MSN   1078217
    
    Dave
    
    Patented East Stillwater River
    
    MSN   1078218
    
    Mountain View
    
    Patented West Stillwater River
    
    MSN             63A19
    
    Rough Rock
    
    Patented West Stillwater River
    
    MSN             63B20
    
    Redbird
    
    Patented West Stillwater River
    
    MSN             63C21
    
    Big Thing
    
    Patented West Stillwater River
    
    MSN             63D22
    
    Stillwater
    
    Patented West Stillwater River
    
    MSN             63E23
    
    Summit
    
    Patented West Stillwater River
    
    MSN             68A24
    
    New Wabeliski
    
    Patented West Stillwater River
    
    MSN             68B25
    
    Brooklyn
    
    Patented West Stillwater River
    
    MSN             69A26
    
    Avalanche
    
    Patented West Stillwater River
    
    MSN             69B27
    
    Cataract
    
    Patented West Stillwater River
    
    MSN
     69C28
    
    Perseverance
    
    Patented East Stillwater River
    
    MSN             70A29
    
    Emerald
    
    Patented East Stillwater River
    
    MSN
     70B30
    
    Blue Jay
    
    Patented East Stillwater River
    
    MSN             70C31
    
    Copper Bottom
    
    Patented East Stillwater River
    
    MSN
     70D32
    
    Ridge
    
    Patented East Stillwater River
    
    MSN             70E33
    
    Rough Rock No.2
    
    Patented West Stillwater River
    
    MSN             72A34
    
    Something
    
    Patented West Stillwater River
    
    MSN
     72B
  13




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##### 



SCHEDULE 2  BASAL ZONE LEASE AGREEMENT
UNPATENTED LODE AND PLACER CLAIMS IN STILLWATER COUNTY, MONTANA
 Mineral Claim
    
    
    
    BLM MontanaName
    
    Status
    
    Mineral Claim No.1
    
    Giant
    
    Unpatented West Stillwater River
    
    MMC    363822
    
    Red Bird #2
    
    Unpatented West Stillwater River
    
    MMC    363963
    
    Smelter
    
    Unpatented West Stillwater River
    
    MMC    364014
    
    Billie
    
    Unpatented West Stillwater River
    
    MMC    364075
    
    Gap
    
    Unpatented West Stillwater River
    
    MMC    364106
    
    Jame
    
    Unpatented West Stillwater River
    
    MMC    364127
    
    Westlake
    
    Unpatented West Stillwater River
    
    MMC    364318
    
    Snookie Placer  (1)(2)
    
    Unpatented West Stillwater River
    
    MMC    364029
    
    Basin Placer (3)
    
    Unpatented East Stillwater River
    
    MMC    36777
 
 (1)
    
    Stillwater Mining Company leases that part (of the Snookie Placer) in conflict with the unpatented lode claims
Schmidt Numbers 1 &2, Blitz Numbers. 3, 4, 7, 8, 11,12,15, and 16.(2)
    
    SMC is also paying BLM fees on this claim. (3) Northern half of claim assigned. UNPATENTED LODE AND PLACER CLAIMS IN SWEET GRASS COUNTY, MONTANA
 Mineral Claim
    
    
    
    BLM MontanaName
    
    Status
    
    Mineral Claim No.1
    
    RAM 1
    
    Unpatented Crescent Creek
    
    MMC 1284172
    
    RAM 2
    
    Unpatented Crescent Creek
    
    MMC 1284183
    
    RAM 4
    
    Unpatented Crescent Creek
    
    MMC 1284204
    
    RAM 5
    
    Unpatented Crescent Creek
    
    MMC 1284215
    
    RAM 7
    
    Unpatented Crescent Creek
    
    MMC 1284236
    
    RAM 8
    
    Unpatented Crescent Creek
    
    MMC 1284247
    
    RAM 11
    
    Unpatented Crescent Creek
    
    MMC 1284278
    
    RAM 12
    
    Unpatented Crescent Creek
    
    MMC 1284289
    
    RAM 14
    
    Unpatented Crescent Creek
    
    MMC 12843010
    
    RAM 15
    
    Unpatented Crescent Creek
    
    MMC 12843111
    
    RAM 17
    
    Unpatented Crescent Creek
    
    MMC 12843312
    
    RAM 18
    
    Unpatented Crescent Creek
    
    MMC 12843413
    
    RAM 19
    
    Unpatented Crescent Creek
    
    MMC 12843514
    
    RAM 20
    
    Unpatented Crescent Creek
    
    MMC 12843615
    
    RAM 24
    
    Unpatented Crescent Creek
    
    MMC 12844016
    
    RAM 44
    
    Unpatented Crescent Creek
    
    MMC 13418017
    
    RAM 45
    
    Unpatented Crescent Creek
    
    MMC 134181
  14