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SALE AGREEMENT

THIS AGREEMENT made as of the 27th day of July, 2012

BETWEEN:

FINSBURY EXPLORATION LTD.,a corporation incorporated 
  under the laws of the Province of British Columbia

(Finsbury)

AND:

QUARTZ MOUNTAIN RESOURCES
LTD.,a corporation incorporated 
  under the laws of the Province of British Columbia

(Quartz and together with
Finsbury, the Parties)

WHEREAS:

|A. | Finsbury is a party to a mineral property purchase
      agreement (the Bearclaw Agreement) dated October 4, 2011 (as
      amended effective as of the date that this Agreement becomes unconditional
      pursuant to Section 3 hereof) with Bearclaw Capital Corp.
      (Bearclaw) pursuant to which Bearclaw agreed to sell to Finsbury,
      and Finsbury agreed to acquire a 100% interest in certain Purchased
      Assets (as that term is defined in the Bearclaw Agreement), including,
      for greater certainty, those mineral claims described in Schedule A hereto
      (the Gnat Pass Claims) as depicted on the map therein.
|-- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|B. | Finsbury is also a party to a net smelter return royalty
      agreement (the NSR Royalty Agreement) dated October 31, 2011 with
      Bearclaw pursuant to which Finsbury granted to Bearclaw a one percent (1%)
      net smelter royalty, up to a maximum aggregate amount of $7,500,000 (the
      NSR Royalty).                                                                                                                                                                                                                                                                                                                                   
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|C. | Finsbury has staked those mineral claims described in
      Schedule B hereto (the Finsbury Staked Claims).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|D. | Finsbury has, as of the date of this Agreement, entered
      into an amending agreement (the Amending Agreement) with Bearclaw
      pursuant to which Finsbury and Bearclaw have agreed to amend certain of
      the obligations of Finsbury with respect to the payment of consideration
      to Bearclaw thereunder and such Amending Agreement is conditional upon
      this Agreement becoming unconditional upon its terms.                                                                                                                                                                                                                    
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|E. | Pursuant to an option agreement between Finsbury and
      Quartz dated July 1, 2012 (the Option Agreement), Finsbury agreed
      to grant to Quartz an option to acquire a fifty percent (50%) interest in
      the Purchased Assets and the Finsbury Staked Claims, subject to the
      obligations to Bearclaw pursuant to the Bearclaw Agreements, upon Quartz
      completing the work obligations set out
therein.                                                                                                                                                                                                                             

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|F. | Subject to the terms and conditions hereof, Finsbury
      wishes to sell one hundred percent (100%) of its interest in and to the
      Finsbury Staked Claims, the Purchased Assets and its rights and
      obligations under the Bearclaw Agreement and the NSR Royalty Agreement to
      Quartz and Quartz wishes to purchase the Finsbury Staked Claims, the
      Purchased Assets and the rights and obligations of Finsbury under the
      Bearclaw Agreement and the NSR Royalty Agreement and the Parties wish to
      terminate the Option Agreement as of the Effective
Date.
|-- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

THEREFOREthis Agreement witnesses that, in
consideration of the premises and mutual covenants and conditions hereinafter
contained and other good and valuable consideration (the receipt and sufficiency
of which is hereby acknowledged), the Parties agree as follows:

|1. | Sale and Purchase
|-- | -----------------
|   |                  
|   | (a)              
|   |                  
|   |                  
|   |                  
|   |                  
|   |                  
|   |                  
|   |                  
|   |                  
|   |                  
|   | (b)              

2

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2.Purchase Price

As consideration for the sale by Finsbury of the Acquired
Assets and Rights to Quartz pursuant to Section 1(a), Quartz shall, subject to
Section 3(a) (and in addition to assuming the Assumed Obligations pursuant to
Section 1(b)) on the Effective Date, issue 2,038,111 common shares in the
capital of Quartz (Quartz Shares) to Finsbury.

3.Conditions
  Precedent

| | (a) | The obligations of the Parties pursuant to Sections 1 and
      2 are conditional upon satisfaction, or waiver by each of the Parties, of
      each of the following conditions:                                                                                                                                                                                                                                                                                                                                                                                 
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
| |     | (i)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
| |     | (ii)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
| |     | (iii)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
| |     | (iv)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
| | (b) | Notwithstanding any other provision of this Agreement,
      the obligations of Quartz pursuant to Sections 1 and 2 are conditional
      upon delivery to Quartz, on the Effective Date, of a certificate of an
      officer of Finsbury confirming that the representations and warranties of
      Finsbury set forth in Section 4 continue to be true and accurate as if
      made on and as of the Effective Date.                                                                                                                                         
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
| | (c) | If the conditions contained in Sections 3(a) and 3(b)
      have not been either satisfied, or waived by each of the parties, on or
      before August 20, 2012 or such other date mutually agreed to by the
      Parties (the Deadline Date), then this Agreement shall, at the
      option of either Party by written notice to the other Party, terminate and
      be of no further force and effect and neither Party shall have any claim
      against the other under the terms hereof or arising from the failure of
      the conditions precedent.

3

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4.Finsburys Representations and Warranties

Finsbury makes the following representations and warranties to
Quartz as of the date hereof and such representations and warranties shall be
deemed to be repeated as of the closing date of the transactions contemplated
hereunder:

General Corporate Matters

| | (a) | It is a corporation duly incorporated and subsisting
      under the laws of the Province of British Columbia with the corporate
      power to own its assets and to carry on its business and Finsbury holds
      all material permits that are required to carry on its business, and has
      made all necessary filings under all applicable laws.                                                                                                                                           
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
| | (b) | It has the power, authority and right (i) to enter into
      and deliver this Agreement; and (ii) to complete the transactions to be
      completed by it as contemplated herein and therein.                                                                                                                                                                                                                                                                                                     
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
| | (c) | This Agreement has been duly authorized, executed and
      delivered by it and constitute valid and legally binding obligations of
      and enforceable against it in accordance with its terms subject to
      applicable bankruptcy, insolvency, reorganization and other laws of
      general application limiting the enforcement of creditors rights
      generally and to the fact that specific performance is an equitable remedy
      available only in the discretion of the court.
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
| | (d) | The execution, delivery and performance by Finsbury of
      this Agreement:                                                                                                                                                                                                                                                                                                                                                                                                                        
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
| |     | (i)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
| |     | (ii)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
| |     | (iii)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
| | (e) | Other than the Exchange approvals described in Section
      3(a) (the Exchange Approvals) and the approval of Bearclaw with
      respect to the assignment by Finsbury to Quartz of the NSR Royalty
      Agreement, no approvals and consents are required by Finsbury in
      connection with the observance and performance by Finsbury of its
      obligations under this Agreement.                                                                                                      

4

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Title, Encumbrances and Obligations Concerning the Acquired
Assets and Rights

| | (f) | Finsbury is the recorded holder of the Gnat Pass Claims
      and the Finsbury Staked Claims (the Mineral Properties) and is
      the owner of a 100% undivided beneficial interest in and to the Acquired
      Assets and Rights, free and clear of any encumbrances except the rights of
      Bearclaw to receive those payments therefor described in the Bearclaw
      Agreement, the Permitted Encumbrances as defined in the Bearclaw
      Agreement and the NSR Royalty (the Bearclaw Encumbrances), and
      there are no other existing rights or options to acquire any interest in,
      or explore, prospect or mine on, the Mineral Properties held by any third
      party.
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
| | (g) | Finsbury has the unfettered right to transfer its 100%
      undivided beneficial interest in the Acquired Assets and Rights to Quartz
      in the manner set out in this Agreement.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
| | (h) | Except for this Agreement and the Bearclaw Encumbrances,
      there does not exist any contract, option or other right of another
      binding upon or which at any time in the future may become binding upon
      Finsbury to sell or transfer, or that would have the effect of imposing
      any encumbrance upon, any of the Acquired Assets and Rights.                                                                                                                                                                                                                                                                                                                                      
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
| | (i) | Except for Quartzs rights under this Agreement and the
      Bearclaw Encumbrances, there are no adverse interests or rights or options
      to acquire or purchase any of the Mineral Properties or any portion
      thereof or any right, title or interest therein or any minerals, metals,
      concentrates or any other products or materials removed or produced from
      the Mineral Properties.                                                                                                                                                                                                                                                                                         
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
| | (j) | Finsbury is not in default or breach of any contract or
      commitment concerning any of the Acquired Assets and Rights and there
      exists no condition, event or act that, with the giving of notice or lapse
      of time or both, would constitute such a default or breach of any such
      contract or commitment.                                                                                                                                                                                                                                                                                                                                                                        
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
| | (k) | All material obligations of Finsbury arising under or in
      connection with the Mineral Properties prior to the date hereof, and all
      payments due or accrued thereunder or in connection therewith prior to the
      date hereof, have been fulfilled and paid in full.                                                                                                                                                                                                                                                                                                                                                                                                                      
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
| | (l) | To the knowledge of Finsbury, the Mineral Properties are
      not subject to any reservations of surface rights or other property rights
      by the Crown, and the lands comprising the Mineral Properties are not
      subject to any other rights granted by the Crown in favour of or for the
      benefit of any third party, in each case which could interfere materially
      with the commercial exploitation of the Mineral
  Properties.                                                                                                                                                                                                                                               

5

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Royalties

| | (m) | Other than in respect of the NSR Royalty, no person is
      entitled to any royalty or other payment in the nature of a royalty on any
      minerals, metals or concentrates or any other products removed or produced
      from the Mineral Properties.
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Permits and Compliance with Laws

| | (n) | To the knowledge of Finsbury, the Mineral Properties have
      been duly issued and are validly registered in accordance with all
      applicable laws and are in good standing in all material respects with
      respect to the performance of all material obligations required under
      applicable laws (including the payment of all rents, taxes maintenance
      costs and other charges thereon, the performance of all minimum assessment
      work and the filing of reports with respect to minimum assessment work)
      with respect thereto and, so far as Finsbury is aware, there are no facts
      or circumstances which might give rise to a breach of the terms of the
      Mineral Properties or render any of the Mineral Properties liable to
      forfeiture.
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
| | (o) | To the knowledge of Finsbury, the physical condition of
      the Mineral Properties is in material compliance with all applicable laws
      and all orders of all governmental authorities having jurisdiction
      thereover.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
| | (p) | Except as is disclosed in writing to Quartz prior to the
      date hereof, all material permits relating to the current status of the
      Mineral Properties, if any, are in good standing and no orders impacting
      their validity have been issued.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
| | (q) | Finsbury has provided Quartz with complete and accurate
      information regarding all permits, of which Finsbury is aware, which have
      in the past been obtained or requested from any governmental authority in
      relation to the commercial exploitation of the Mineral
  Properties.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               

Claims and Proceedings

| | (r) | No litigation or other proceeding or inquiry exists, or
      is pending or threatened either against Finsbury or in respect of any of
      the Acquired Assets and Rights, which may affect the Acquired Assets and
      Rights or the completion of the transactions contemplated
herein.
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |     |                                                                                                                                                                                                                                                                                              
| | (s) | There is no adverse claim or challenge against or to the
      ownership of or title to any of the Acquired Assets and Rights, and, to
      Finsburys knowledge, there is not any basis for any such adverse claim or
      challenge.                                                     

Environmental Issues

| | (t) | Finsbury is in material compliance with all applicable
      environmental laws pertaining to the Mineral Properties and all activities
      on or in relation to the Mineral Properties carried out by or on behalf of
      Finsbury have been carried out in material compliance with all applicable
      environmental laws. Finsbury has not received any notice from any governmental authority
      alleging that Finsbury or any of its predecessors in interests in respect
      of the Mineral Properties have violated or are violating in any material
      respect any environmental law to which the Mineral Properties are subject,
      and, except as expressly set forth herein, there are no outstanding orders
      or directions relating to the environment requiring any work, repairs,
      construction or capital expenditures. Finsbury has no knowledge regarding
      historical compliance with applicable environmental laws pertaining to the
  Mineral Properties.
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

6

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| | (u) | Finsbury has not received any notice, formal or informal,
      of any proceeding, with respect to any actual or potential environmental
      liability, which is pending as of the date hereof, and no legal or
      administrative action exists or, to the knowledge of Finsbury, is
      threatened or pending, against Finsbury or the Mineral Properties in
      respect of environmental liabilities. To the knowledge of Finsbury, there
      are no (i) facts with respect to the Mineral Properties that could give
      rise to a notice of non-compliance with any environmental law, or (ii)
      environmental liabilities associated with the Mineral
Properties.
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
| | (v) | Finsbury has not been convicted of an offence or been
      subjected to any judgment, injunction or other proceeding or been fined or
      otherwise sentenced for non- compliance with any environmental laws, and
      it has not settled any prosecution or other proceeding short of conviction
      in connection therewith, in relation to the Acquired Assets and
    Rights.                                                                                                                                                                                                                                                                                               
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
| | (w) | Neither Finsbury nor to the knowledge of Finsbury any of
      its predecessors in title has caused or permitted the release of any
      hazardous substance at, on, under or near the Mineral Properties, except
      in compliance in all material respects with environmental laws.                                                                                                                                                                                                                                                                                                                                                                                               
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
| | (x) | There are no conditions that directly or indirectly
      relate to environmental matters or to the condition of the soil or the
      groundwater that would adversely affect the Acquired Assets and Rights in
      a material manner.                                                                                                                                                                                                                                                                                                                                                                                                                                              
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
| | (y) | Neither Finsbury nor, to the knowledge of Finsbury, any
      of its predecessors in title has received written notice of, and Finsbury
      does not have knowledge of any facts that could give rise to any notice,
      that Finsbury or its predecessors are potentially responsible for any
      remedial action under any environmental law in connection with the
      Acquired Assets and Rights.                                                                                                                                                                                                                                                                          

First Nations and Treaty Rights

| | (z) | To the knowledge of Finsbury, there are no First Nations
      or treaty rights, titles or claims, proven or unproven, that are
      reasonably related to, or may reasonably affect, the Mineral Properties
      and no person has purported to be or to represent an identified First
      Nations person or group in connection with the Mineral Properties or other
      lands or resources that might be affected by the development and
      exploitation of the Mineral Properties.
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

7

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| | (aa) | Finsbury is not aware of any First Nations opposition to,
      or concerns about, the development or exploitation of the Mineral
      Properties, including anything related to the Crown's duty to consult
      First Nations peoples.                                                                                                                                                                                                                      
| | ---- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
| | (bb) | Finsbury has not engaged, and so far as Finsbury is aware
      its predecessors in title to the Mineral Properties have not engaged, in
      any negotiations with any First Nations or aboriginal group in respect of
      the Mineral Properties or entered into any agreements, understandings or
      commitments, including any impact and benefit agreements with any First
      Nations or aboriginal groups in respect of the Mineral
  Properties.

**Books and Records**

| | (cc) | The books and records of Finsbury relating to the
      Acquired Assets and Rights are true and correct and present fairly and
      disclose in all material respects the financial position of the Acquired
      Assets and Rights; all material financial transactions of Finsbury
      relating to the Acquired Assets and Rights have been accurately recorded
      in such books and records; and, to the extent possible, such books and
      records have been prepared in accordance with generally accepted
      accounting principles consistently applied.                                                                                                                                                                                                                                                                                                                                                                                                  
| | ---- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
| | (dd) | Finsbury has made available to Quartz all books, records,
      agreements, and all financial, technical and other information or
      documents, in each case concerning the Acquired Assets and Rights, in the
      possession or control of Finsbury or its affiliates, including, without
      limitation (i) all analyses and monitoring data for soil, groundwater and
      surface water and all reports pertaining to any environmental assessments
      or audits relating to the Mineral Properties and (ii) all information
      regarding, and all correspondence and other documentation evidencing, any
      contact with or from, or any arrangements or agreements with or
      representations made to, any person, in relation to aboriginal persons or
      issues, in each case which may have any relation to the Mineral Properties
      or other lands or resources that might be affected by the development or
      exploitation thereof.

**Improvements to Land; Buildings and
Equipment**

| | (ee) | All improvements (including all plants, buildings,
      structures, erections, appurtenances and fixtures, and any other
      improvements related to environmental protection or remediation) situated
      on or forming part of the Mineral Properties have been completed in a good
      and competent manner and in accordance with the requirements of all
      applicable governmental authorities and all such improvements are free of
      material defect.
| | ---- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

**Tax and Similar Matters**

| | (ff) | There are no liens for taxes upon the Acquired Assets and
      Rights, except for statutory liens for current taxes not yet
  due.
| | ---- | -----------------------------------------------------------------------------------------------------------------------------------

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| | (gg) | Finsbury is not a non-resident of Canada within the
      meaning of Section 116 of the Income Tax Act (Canada).                                                                                                                                                                                                                                                                 
| | ---- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |      |                                                                                                                                                                                                                                                                                                                                                                                  
| | (hh) | Finsbury has not received notice of any assessment or any
      capital charges or levies assessed or proposed to be assessed against any
      of the Acquired Assets and Rights by a governmental authority or that any
      governmental authority intends to require Finsbury to pay for any future
      roads, utilities or services relating to the Mineral
  Properties.

**Securities Laws**

| | (ii) | Finsbury acknowledges that the issuance of the Quartz
      Shares will be made pursuant to an appropriate exemption (the
      Exemption) from the registration and prospectus or equivalent
      requirements of all rules, policies, notices, orders and legislation of
      any kind whatsoever (collectively, the Securities Rules) of all
      the jurisdictions applicable to such issuance and, as a consequence of
      acquiring the Quartz Shares pursuant to this Exemption: 
| | ---- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
| |      | (i)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
| |      | (ii)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
| |      | (iii)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
| |      | (iv)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
| |      | (v)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
| |      | (vi)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
| | (jj) | Any Quartz Shares issued to Finsbury will be acquired by
      Finsbury as principal for its own account and not for the benefit of any
      other person.                                                                                                                                                                                                                                                                                                                                      
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
| | (kk) | Because of the trade restrictions imposed by operation of
      the Securities Rules, the certificates representing the Quartz Shares or
      where such Quartz Shares are entered into a direct registration or other
      electronic book-entry system, the written notice delivered to Finsbury in
      respect of such Quartz Shares, will bear such legend notation as may be
      required by the Securities Rules and, if applicable, by the rules and
      policies of the Exchange.

9

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| | (ll) | Without in any way limiting the generality of the
      foregoing, the trade restrictions provide that Finsbury must hold and not
      sell, transfer or in any manner dispose of the Quartz Shares except in
      accordance with applicable securities laws and, for purposes of securities
      laws in Canada, not before the date that is four months and a day after
      the distribution date of the Quartz Shares unless the disposition is made
      in accordance with all applicable Securities
Rules.
| | ---- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Other

| | (mm) | Finsbury is not in default under any of the provisions of
      the Bearclaw Agreement and the NSR Royalty Agreement and the Bearclaw
      Agreement and the NSR Royalty Agreement remain in full force and
      effect;                                              
| | ---- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |      |                                                                                                                                                                                                                                                                         
| | (nn) | No representation or warranty or other statement made by
      Finsbury in this Agreement contains any untrue statement or omits to state
      a material fact necessary to make any of them, in light of the
      circumstances in which it was made, not
misleading.

5.Conveyance

Upon the satisfaction or waiver by each of the Parties of the
conditions in Sections 3(a) and 3(b), Finsbury shall promptly:

| | (a) | release to Quartz duly executed transfers and conveyances
      of the Mineral Properties, to and in favour of Quartz, in each case in
      registrable form, together with anything reasonably required by Quartz to
      evidence or give full effect thereto; and                                               
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |     |                                                                                                                                                                                                                                                                                                                      
| | (b) | release to Quartz the Technical Information and the
      Documents and Records, as those terms are defined in the Bearclaw
      Agreement and any other similar records or information acquired by
      Finsbury in relation to the Mineral Properties subsequent to the date of
      the Bearclaw Agreement.

|6. | Transfers
|-- | ---------
|   |          
|   | (a)      
|   |          
|   | (b)      

10

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7.Termination
  of Option Agreement

The Parties agree that, effective as of the Effective Date, the
Option Agreement shall be terminated in its entirety, shall be of no further
force or effect and the Parties shall have no further liability to each other
with respect to the Option Agreement and each of them shall be released and
discharged from any further obligations or liabilities, past, present or future,
under the Option Agreement without the necessity for any further instrument or
formality.

8.General

| | (a) | This Agreement shall enure to the benefit of and be
      binding upon the parties hereto and their respective successors and
      assigns.                                                                                                                                                                                                                                                                                                                             
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
| | (b) | This Agreement and the rights of the parties hereunder
      shall be governed by and construed according to the laws of the Province
      of British Columbia and the laws of Canada applicable therein without
      giving effect to any choice of law or conflict of law provision or rule
      that would cause the application of the laws of any jurisdiction other
      than the Province of British Columbia and the laws of Canada applicable
      therein.
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
| | (c) | This Agreement may be executed by the parties hereto by
      facsimile signature in one or more counterparts, each of which shall be
      deemed to be an original and all of which will constitute together the one
      and the same agreement.                                                                                                                                                                                                                     
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
| | (d) | Each of the parties hereto will from time to time execute
      and deliver all such further documents and instruments and do all acts and
      things as the other party may reasonably require to effectively carry out
      the full intent and meaning of this Agreement.                                                                                                                                                                                          

IN WITNESS WHEREOF the Parties hereto have executed this
Agreement as of the date first set out above.

FINSBURY EXPLORATION LTD.

By:
_______________________________________       
Name: Marchand Snyman        
Position: Director

QUARTZ MOUNTAIN RESOURCES LTD.

By:
_______________________________________       
Name: Gordon
Fretwell         Position:
Director

11

---

SCHEDULE A

Gnat Pass Claims

Tenure No.
      Claim Name
      FMC#
      Area (ha)512878
    
    145966
    681.329604847
    GNAT3
    145966
    340.59525819
    GNAT NORTH
    145966
    272.423




---

SCHEDULE B

Finsbury Staked Claims

Tenure Number
      Claim Name
      Map Number
      Issue Date
      Good To Date
      Status
      Area (ha)871889
    STU 074
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    681.329871890
    STU 080
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    681.329871892
    STU 155
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    681.329871893
    STU 070
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    681.329871894
    STU 019
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    681.329871895
    STU 082
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    681.329871909
    STU 067
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    681.329871910
    STU 023
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    681.329871911
    STU 020
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    681.329871912
    STU 202
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    681.329871913
    STU 063
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    681.329871914
    STU 153
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    681.329871915
    STU 081
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    681.329871916
    STU 018
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    681.329871917
    STU 055
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    681.329871918
    STU 022
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    681.329871919
    STU 050
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    681.329871920
    STU 014
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    681.329871921
    STU 157
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    681.329871929
    STU 015
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    681.329871930
    STU 084
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    681.329871931
    STU 158
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    681.329871949
    STU 201
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    425.6927871950
    STU 056
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    425.3287871969
    STU 13
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    426.6119871989
    STU 075
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    237.9892872009
    STU 162
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    408.4231872011
    STU 086
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    426.5456872012
    STU 163
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    271.8003872013
    STU 021
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    426.324872014
    STU 093
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    426.7743872015
    STU 161
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    255.3781872016
    STU 203
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    408.625872017
    STU 071
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    425.0287872018
    STU 072
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    424.7614872019
    STU 154
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    425.7672872020
    STU 090
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    341.4619872021
    STU 016
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    409.5002872022
    STU 065
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    424.7708872023
    STU 156
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    425.7615872024
    STU 091
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    409.7671


---

Tenure Number
      Claim Name
      Map Number
      Issue Date
      Good To Date
      Status
      Area (ha)872025
    STU 204
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    408.4282872026
    STU 066
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    425.0315872027
    STU 088
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    409.7028872028
    STU
      159
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    425.7588872029
    STU 062
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    425.0378872030
    STU 078
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    408.8201872031
    STU 061
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    424.7821872032
    STU 160
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    408.7533872033
    STU 089
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    409.7739872034
    STU 054
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    425.0451872035
    STU 205
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    408.2316872036
    STU 068
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    408.5818872037
    STU 053
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    424.7906872038
    STU 139
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    426.0263872039
    STU 100
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    341.6168872040
    STU 069
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    408.5797872041
    STU 009
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    426.8014872042
    STU 141
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    426.0232872043
    STU 206
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    408.0346872044
    STU 073
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    339.6999872045
    STU 103
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    341.6088872046
    STU 076
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    408.575872047
    STU 143
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    426.0241872049
    STU 052
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    425.045872050
    STU 008
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    426.8042872051
    STU 079
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    408.7906872052
    STU 145
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    426.0203872053
    STU 099
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    427.287872055
    STU 049
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    425.0623872056
    STU 007
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    426.8155872057
    STU 147
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    426.0192872058
    STU 104
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    427.2481872059
    STU 051
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    407.774872060
    STU 077
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    391.5588872061
    STU 149
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    426.0196872062
    STU 107
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    409.94872063
    STU 200
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    408.4752872064
    STU 048
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    339.8504872065
    STU 005
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    409.8918872066
    STU 140
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    426.2724872067
    STU 064
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    357.4498872068
    STU 046
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    374.1315872069
    STU 112
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    410.1905872070
    STU 142
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    426.2699872071
    STU 024
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    426.0597872072
    STU 044
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    407.7283


14

---

Tenure Number
      Claim Name
      Map Number
      Issue Date
      Good To Date
      Status
      Area (ha)872073
    STU 004
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    409.8617872074
    STU 199
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    408.2306872075
    STU 045
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    407.9486872076
    STU 060
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    374.7752872077
    STU 003
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    409.8653872078
    STU
      144
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    426.2707872079
    STU 115
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    410.1413872080
    STU 040
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    425.1421872081
    STU 058
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    425.559872082
    STU 146
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    426.2684872083
    STU 002
    104J
    2011/jul/28
    2012/nov/05
    GOOD
    341.5682872084
    STU 198
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    407.9373872085
    STU 148
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    426.2678872086
    STU 057
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    357.6624872087
    STU 039
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    424.8328872088
    STU 113
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    427.5093872089
    STU 150
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    426.2681872090
    STU 059
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    425.5928872091
    STU 043
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    407.6827872092
    STU 006
    104J
    2011/jul/28
    2012/nov/05
    GOOD
    426.8274872093
    STU 116
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    427.5013872095
    STU 037
    104J
    2011/jul/28
    2012/nov/05
    GOOD
    425.1375872096
    STU 197
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    408.0825872097
    STU 151
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    426.0973872098
    STU 083
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    426.0757872099
    STU 118
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    410.212872100
    STU 012
    104J
    2011/jul/28
    2012/nov/05
    GOOD
    426.62872101
    STU 038
    104J
    2011/jul/28
    2012/nov/05
    GOOD
    424.805872102
    STU 152
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    409.0457872103
    STU 085
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    409.2647872104
    STU 120
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    427.5001872105
    STU 175
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    408.8542872106
    STU 030
    104J
    2011/jul/28
    2012/nov/05
    GOOD
    408.2134872107
    STU 017
    104J
    2011/jul/28
    2012/nov/05
    GOOD
    426.3691872108
    STU 087
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    426.5663872109
    STU 119
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    358.9266872110
    STU 196
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    425.5519872111
    STU 182
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    408.8529872112
    STU 031
    104J
    2011/jul/28
    2012/nov/05
    GOOD
    408.0059872113
    STU 001
    104J
    2011/jul/28
    2012/nov/05
    GOOD
    409.8621872114
    STU 094
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    426.7817872115
    STU 174
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    204.3277872116
    STU 032
    104J
    2011/jul/28
    2012/nov/05
    GOOD
    305.7929872117
    STU 122
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    410.4224872118
    STU 181
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    408.6575872119
    STU 092
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    409.9243


15

---

Tenure Number
      Claim Name
      Map Number
      Issue Date
      Good To Date
      Status
      Area (ha)872120
    STU 033
    104J
    2011/jul/28
    2012/nov/05
    GOOD
    407.6028872121
    STU 128
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    341.7577872122
    STU 010
    104J
    2011/jul/28
    2012/nov/05
    GOOD
    409.6719872123
    STU 173
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    408.468872124
    STU 096
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    427.022872125
    STU 127
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    410.417872126
    STU 192
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    408.2742872127
    STU
      011
    104J
    2011/jul/28
    2012/nov/05
    GOOD
    409.3831872128
    STU 130
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    358.715872129
    STU 180
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    408.4698872130
    STU 95
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    426.9916872131
    STU 025
    104J
    2011/jul/28
    2012/nov/05
    GOOD
    375.0417872132
    STU 129
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    427.0941872133
    STU 193
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    357.0911872134
    STU 121
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    427.4959872135
    STU 047
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    425.376872136
    STU 101
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    256.1003872137
    STU 026
    104J
    2011/jul/28
    2012/nov/05
    GOOD
    408.9503872138
    STU 126
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    427.771872139
    STU 041
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    425.3909872140
    STU 102
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    256.1039872141
    STU 125
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    410.6275872142
    STU 195
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    407.8865872143
    STU 036
    104J
    2011/jul/28
    2012/nov/05
    GOOD
    425.4075872144
    STU 027
    104J
    2011/jul/28
    2012/nov/05
    GOOD
    408.8353872145
    STU 98
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    273.4715872146
    STU 124
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    410.6288872147
    STU 029
    104J
    2011/jul/28
    2012/nov/05
    GOOD
    408.4206872148
    STU 172
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    357.2539872149
    STU 123
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    410.6317872150
    STU 194
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    356.8847872151
    STU 034
    104J
    2011/jul/28
    2012/nov/05
    GOOD
    425.9138872152
    STU 028
    104J
    2011/jul/28
    2012/nov/05
    GOOD
    408.6279872153
    STU 097
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    273.451872154
    STU 179
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    408.282872155
    STU 035
    104J
    2011/jul/28
    2012/nov/05
    GOOD
    425.6776872156
    STU 105
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    376.201872157
    STU 042
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    425.6395872158
    STU 117
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    342.1898872159
    STU 106
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    427.5136872160
    STU 171
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    408.0923872161
    STU 191
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    425.5205872162
    STU 178
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    408.0938872163
    STU 109
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    427.5245872164
    STU 108
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    341.828872165
    STU 190
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    357.6688


16

---

Tenure Number
      Claim Name
      Map Number
      Issue Date
      Good To Date
      Status
      Area (ha)872166
    STU 168
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    391.0051872167
    STU 111
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    427.0979872168
    STU 114
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    410.6291872169
    STU 170
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    407.9037872170
    STU 132
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    426.878872171
    STU 177
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    407.9061872172
    STU 110
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    410.6443872173
    STU 183
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    424.7537872174
    STU 176
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    424.7062872175
    STU
      131
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    426.851872176
    STU 169
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    407.7134872177
    STU 184
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    356.9255872178
    STU 133
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    409.654872179
    STU 167
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    407.7155872180
    STU 185
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    357.0526872181
    STU 134
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    426.6144872182
    STU 166
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    407.7126872183
    STU 135
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    358.3119872185
    STU 186
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    357.1796872186
    STU 165
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    407.7062872187
    STU 136
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    358.1866872188
    STU 164
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    339.7521872189
    STU 137
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    426.3657872191
    STU 187
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    357.3064872193
    STU 138
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    426.2563872194
    STU 188
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    357.4334872197
    STU 189
    104I
    2011/jul/28
    2012/nov/05
    GOOD
    357.5605872629
    STU 207
    104I
    2011/jul/29
    2012/nov/05
    GOOD
    426.5166872649
    STU 208
    104I
    2011/jul/29
    2012/nov/05
    GOOD
    426.7613872669
    STU 209
    104I
    2011/jul/29
    2012/nov/05
    GOOD
    426.9964872689
    STU 210
    104I
    2011/jul/29
    2012/nov/05
    GOOD
    136.6952872709
    STU 213
    104I
    2011/jul/29
    2012/nov/05
    GOOD
    426.5164872729
    STU 212
    104I
    2011/jul/29
    2012/nov/05
    GOOD
    426.7611872749
    STU 211
    104I
    2011/jul/29
    2012/nov/05
    GOOD
    358.6655872769
    STU 214
    104I
    2011/jul/29
    2012/nov/05
    GOOD
    426.5164872789
    STU 215
    104I
    2011/jul/29
    2012/nov/05
    GOOD
    426.7608872809
    STU 216
    104I
    2011/jul/29
    2012/nov/05
    GOOD
    358.6367872829
    STU 218
    104I
    2011/jul/29
    2012/nov/05
    GOOD
    426.5175872849
    STU 217
    104I
    2011/jul/29
    2012/nov/05
    GOOD
    426.7594872869
    STU 219
    104I
    2011/jul/29
    2012/nov/05
    GOOD
    426.5165872889
    STU 220
    104I
    2011/jul/29
    2012/nov/05
    GOOD
    290.174872909
    STU 221
    104I
    2011/jul/29
    2012/nov/05
    GOOD
    409.5276872929
    STU 222
    104I
    2011/jul/29
    2012/nov/05
    GOOD
    409.5297880449
    STU 244
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    425.9063880450
    STU 262
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    425.4747880469
    STU 260
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    425.2333


17

---

Tenure Number
      Claim Name
      Map Number
      Issue Date
      Good To Date
      Status
      Area (ha)880489
    STU 254
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    407.4979880509
    STU 263
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    425.501880529
    STU 294
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    425.7169880549
    STU 223
    104I
    2011/aug/03
    2012/nov/05
    GOOD
    407.5542880569
    STU 270
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    425.9699880589
    STU 259
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    425.2574880609
    STU 277
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    407.52880610
    STU 289
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    425.2145880629
    STU 264
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    425.5241880649
    STU 245
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    425.9099880669
    STU 281
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    424.7096880670
    STU
      290
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    425.466880689
    STU 224
    104I
    2011/aug/03
    2012/nov/05
    GOOD
    407.551880709
    STU 235
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    425.2729880729
    STU 246
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    425.9458880749
    STU 280
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    424.704880769
    STU 240
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    425.5278880789
    STU 247
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    426.2065880809
    STU 293
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    425.7154880829
    STU 225
    104I
    2011/aug/03
    2012/nov/05
    GOOD
    407.5126880849
    STU 255
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    424.682880869
    STU 236
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    425.2501880889
    STU 239
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    425.4993880909
    STU 289
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    425.4673880929
    STU 248
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    426.1744880949
    STU 226
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    407.4825880969
    STU 256
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    424.9538880989
    STU 237
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    425.2425881009
    STU 249
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    426.1657881029
    STU 295
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    425.997881049
    STU 238
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    425.4941881069
    STU 227
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    407.4993881089
    STU 282
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    424.9683881109
    STU 241
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    425.7828881129
    STU 283
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    424.9674881130
    STU 268
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    426.0038881131
    STU 271
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    426.1985881132
    STU 242
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    425.7483881189
    STU 228
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    407.5164881209
    STU 243
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    425.7461881210
    STU 269
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    425.9951881211
    STU 288
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    425.2181881212
    STU 273
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    426.2319881213
    STU 265
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    425.7907881214
    STU 287
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    425.2165881215
    STU 272
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    426.2211


18

---

Tenure Number
      Claim Name
      Map Number
      Issue Date
      Good To Date
      Status
      Area (ha)881216
    STU 253
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    407.4994881217
    STU 266
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    425.7687881219
    STU 252
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    426.4674881220
    STU 279
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    424.6959881221
    STU 267
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    425.7351881222
    STU 229
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    424.6693881223
    STU 300
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    358.0354881224
    STU 278
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    356.5742881227
    STU 251
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    426.4386881228
    STU 230
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    424.6718881229
    STU 285
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    135.8779881230
    STU 299
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    426.2356881231
    STU 292
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    425.6933881232
    STU
      231
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    254.8035881233
    STU 250
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    426.4247881234
    STU 284
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    424.9579881235
    STU 296
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    426.0042881236
    STU 297
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    425.9875881237
    STU 286
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    425.2031881238
    STU 234
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    425.0183881239
    STU 276
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    426.4266881240
    STU 298
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    426.2263881241
    STU 291
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    425.4481881242
    STU 233
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    425.0006881243
    STU 301
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    392.3482881244
    STU 275
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    426.447881245
    STU 274
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    426.4598881246
    STU 232
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    424.9905881247
    STU 303
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    426.4647881248
    STU 302
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    358.2415881249
    STU 258
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    424.9908881250
    STU 257
    104J
    2011/aug/03
    2012/nov/05
    GOOD
    424.9654881252
    STU 304
    104I
    2011/aug/03
    2012/nov/05
    GOOD
    427.9485881253
    STU 307
    104I
    2011/aug/03
    2012/nov/05
    GOOD
    427.9454881254
    STU 261
    104I
    2011/aug/03
    2012/nov/05
    GOOD
    427.954881255
    STU 306
    104I
    2011/aug/03
    2012/nov/05
    GOOD
    427.9493881256
    STU 305
    104I
    2011/aug/03
    2012/nov/05
    GOOD
    342.5021888389
    STU 308
    104I
    2011/aug/11
    2012/nov/05
    GOOD
    407.4082888429
    STU 309
    104J
    2011/aug/11
    2012/nov/05
    GOOD
    426.463888449
    STU 310
    104J
    2011/aug/11
    2012/nov/05
    GOOD
    426.7064888469
    STU 311
    104J
    2011/aug/11
    2012/nov/05
    GOOD
    426.4675888489
    STU 312
    104J
    2011/aug/11
    2012/nov/05
    GOOD
    426.4643888509
    STU 313
    104J
    2011/aug/11
    2012/nov/05
    GOOD
    426.7147888529
    STU 314
    104J
    2011/aug/11
    2012/nov/05
    GOOD
    426.7045888549
    STU 315
    104J
    2011/aug/11
    2012/nov/05
    GOOD
    426.4673888569
    STU 316
    104J
    2011/aug/11
    2012/nov/05
    GOOD
    426.7151


19

---

Tenure Number
      Claim Name
      Map Number
      Issue Date
      Good To Date
      Status
      Area (ha)888589
    STU 317
    104J
    2011/aug/11
    2012/nov/05
    GOOD
    324.4302888609
    STU 318
    104J
    2011/aug/11
    2012/nov/05
    GOOD
    170.7451940640
    STU332
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    426.2219940641
    STU319
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    426.7034940643
    STU333
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    426.2222940644
    STU320
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    426.6908940645
    STU334
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    426.2201940646
    STU335
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    426.2194940647
    STU321
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    426.6878940648
    STU336
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    426.2189940649
    STU319
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    426.6979940650
    STU341
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    425.9806940651
    STU322
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    426.6728940652
    STU340
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    425.9799940653
    STU339
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    425.9725940654
    STU338
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    425.9716940655
    STU337
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    425.9684940656
    STU324
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    426.655940657
    STU342
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    425.6916940658
    STU325
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    426.6839940659
    STU343
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    425.6974940660
    STU344
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    425.692940661
    STU326
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    426.703940662
    STU345
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    425.6949940663
    STU346
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    425.6949940664
    STU351
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    425.4482940665
    STU327
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    426.7282940666
    STU350
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    425.4537940667
    STU349
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    425.4462940668
    STU328
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    375.6573940669
    STU348
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    425.4493940670
    STU347
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    425.4496940671
    STU329
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    375.6582940672
    STU352
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    408.1964940673
    STU330
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    375.6605940674
    STU353
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    408.2015940675
    STU354
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    425.2008940676
    STU331
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    409.7972940677
    STU355
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    425.2035940678
    STU356
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    425.2043940679
    STU370
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    426.4692940680
    STU361
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    424.9612940681
    STU360
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    424.9659940683
    STU359
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    424.955940684
    STU371
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    426.7197940685
    STU358
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    424.9576


20

---

Tenure Number
      Claim Name
      Map Number
      Issue Date
      Good To Date
      Status
      Area (ha)940686
    STU357
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    424.9587940688
    STU362
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    424.6942940689
    STU363
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    424.6936940690
    STU364
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    424.6859940691
    STU365
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    424.6953940692
    STU366
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    424.7018940694
    STU369
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    407.515940695
    STU368
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    407.5126940696
    STU367
    104J
    2012/jan/10
    2013/jan/10
    GOOD
    407.5243942614
    STU 372
    104I
    2012/jan/25
    2013/jan/25
    GOOD
    51.0262983855
    STU 372
    104I
    2012/may/03
    2013/may/03
    GOOD
    102.3957983863
    STU 373
    104I
    2012/may/03
    2013/may/03
    GOOD
    34.1325983874
    STU 374
    104I
    2012/may/03
    2013/may/03
    GOOD
    51.1933983876
    STU 374
    104I
    2012/may/03
    2013/may/03
    GOOD
    17.07991847
    STU373
    104J
    2012/may/31
    2013/may/31
    GOOD
    16.9871991824
    STU374
    104I
    2012/may/31
    2013/may/31
    GOOD
    17.0031999623
    STU 375
    104I
    2012/jun/21
    2013/jun/21
    GOOD
    85.126999624
    STU 376
    104I
    2012/jun/21
    2013/jun/21
    GOOD
    85.14741011415
    STU
      377
    
    2012/jul/23
    2013/jul/23
    GOOD
    17.06


21

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