Mining LEASE WITH OPTION TO PURCHASE
(HEREINAFTER REFERRED TO AS THE "LEASE")
BETWEEN: ATHENA MINERALS, INC.
(HEREINAFTER REFERRED TO AS "ATHENA "OR AS THE "LESSEE")
AND:
BRUCE D. STRACHAN AND ELIZABETH K. STRACHAN AS TRUSTEES OF THE BRUCE
AND ELIZABETH STRACHAN REVOCABLE LNING TRUST DATED 7-25"2007
(HEREINAFTER REFERRED TO AS THE "STRACHAN TRUST "OR AS THE "LESSOR ")
SUBJECT PROPERTY:
(HEREINAFTER REFERRED TO AS THE "LEASED PREMISES")
ASSESSORS PARCEL NUMBER 0517-251-05-0-000 SAN BERNARDINO
COUNTY, CALIFORNIA,
413.22 ACRES DESCRIBED AS THE LAND EMBRACED WITHIN THE FOLLOWING PATENTED MINING
CLAIMS: QUAD DEUCE I, QUAD DEUCE II,
QUAD DEUCE IV, QUAD DEUCE V, QUAD DEUCE X, QUAD DEUCE XII, QUAD DEUCE XIV, QUAD
DEUCE 22, PAL # 16, PAL # 17, PAL # 35, PAL # 36, LANGTRY # 1, LANGTRY # 2,
LANGTRY # 4, LANGTRY # 5, LANGTRY # 6, CISCO # 1, CISCO # 2 AND CISCO # 3
LODE MINING CLAIMS WHICH ARE SHOWN AND DESCRIBED ON MINERAL SURVEY
#6777 EMBRACING A PORTION OF SECTIONS 6, 7 AND 8, TOWNSHIP 10 NORTH, RANGE
1EAST, SAN BERNARDINO MERJDIAN IN THE COUNTY OF SAN BERNARDINO, STATE OF
CALIFORNIA
AND:
THE LAND EMBRACED WITHIN THE FOLLOWING UNPATENTED LODE MINING CLAIMS:
LILLY 10
(CACM 290263) AND QUAD DEUCE XIII (CAMC 306178)
LESSOR LEASES WITH AN OPTION TO PURCHASE AND LESSEE HIRES FROM LESSOR THE ABOVE
LISTED PATENTED AND UNPATENTED MINJNG CLAIMS FOR A TERM OF TWENTY YEARS
BEGINNING ON MARCH 15, 2016 AND ENDING ON MARCH 15, 2036 UPON THE FOLLOWING
TERMS AND CONDITIONS WHICH ARE HEREBY MUTUALLY AGREED UPON:
PAGE # 1
LESSEE'S INITIALS
LESSOR'S INITIALS
1.
CANCELLATION OF EXISTING LEASE:
THE EXECUTION OF TIDS DOCUMENT SHALL CANCEL AND TERMINATE THE EXISTING LEASE
WITH OPTION TO PURCHASE REGARDING APN 0517-251-05-0-000 SAN BERNARDINO COUNTY,
CALIFORNIA WHICH WAS EXECUTED ON 3-9-2010 BY BRUCE D. STRACHAN AND ELIZABETH K.
STRACHAN AND ON 3-11-2010 BY JOHN C. POWER AND THE EXECUTION OF THIS DOCUMENT
SHALL ALSO CANCEL AND TERMINATE AMENDMENTS # 1, 2 AND 3 OF SAID EXISTING LEASE
HOWEVER THE ACCRUED RENT DUE AND PAYABLE IN ACCORDANCE WITH THE TERMS OF
AMENDMENT # 3 FOR THE PERIOD 3-15-2015 TO 3-15-2016
OF $ 40,000 SHALL BE DUE
AND PAYABLE IN TWO INSTALLMENTS AS FOLLOWS :
$20,000 ON 3-15-2016 AND $20,000 ON 9-15-2016
AND THE DEFERRED RENT DUE FOR THE PERIOD 3-15-2014 TO 3-15-2016 OF $130,000
WHICH WAS DEFERRED BY AMENDMENT #3 SHALL BE DUE AND PAYABLE 30 DAYS AFTER
COMMERCIAL PRODUCTION OF SILVER SHALL HAVE BEEN ACHIEVED.
COMMERCIAL PRODUCTION OF SILVER IS HEREBY DEFINED AS THE CUMULATIVE PRODUCTION
OF 100,000 TROY OUNCES OF SILVER.
SAID DEFERRED RENT OF $ 130,000 SHALL ALSO.BE DUE AND PAYABLE IMMEDIATELY IF
ATHENA SELLS OR TRANSFERS IT'S INTEREST IN TIDS LEASE WITH OPTION TO PURCHASE OR
ENTERS INTO ANY AGREEMENT, MERGER, JOINT VENTURE OR OTHER
ARRANGEMENT FOR THE EXPLORATION OR DEVELOPMENT 0 F THE LEASED PREMISES
NOTE: NO DOUBLE PAYMENT OF THE DEFERRED RENT OF $130,000 IS INTENDED. IN THE
EVENT THAT PAYMENT OF SAID DEFERRED RENT HAS BEEN MADE DUE