Document:

Form of Change in Control and Severance Agreement

 Exhibit 10.25 
 

 
 March 13, 2008 
   

  
   
  
  

	 	Re:	Benefits upon Change of Control and Termination of Employment 

 Dear
                    : 
 I am pleased to confirm
that the Compensation Committee (the “Committee”) of the Board of Directors of Kintera, Inc. (the “Company”) has approved certain new benefits awarded to you as described in this letter. 
  

	1.	COMPANY TERMINATION OBLIGATIONS 

 a. Termination
by Company without Cause. Where the Company terminates your employment without Cause (as defined below), and your employment is not terminated due to death or Disability (as defined below), you will be eligible to receive: (i) continued
payment of Executive’s then-monthly base salary for six (6) months according to the Company’s normal payroll practices, less applicable withholdings and any renumeration received by you because of your employment or self-employment
during the six (6) month period; and (ii) continued eligibility to participate in medical, life, dental and disability insurance coverage for you and your eligible dependents to the extent permitted under the applicable plans of the
Company as in effect on the date of such termination, at the Company’s expense for six (6) months, provided, however, that after such termination you shall continue to pay premiums in respect to such coverage to the same
extent as was the case immediately prior to such termination. Your eligibility to receive the severance set forth in this Section 1(a) is conditioned on you having first signed a release agreement in the form attached as Exhibit A.
Upon satisfaction of the Company’s obligations under this Section 1(a), all other obligations of the Company under this letter shall cease. 
 b. Termination without Cause or Resignation for Good Reason in Connection with Change in Control. Notwithstanding anything to the contrary in this Agreement, if within the period two months prior to and two
years following a “Change in Control” your voluntarily resign for “Good Reason” or your employment is terminated by the Company without Cause, and your employment is not terminated due to death or 

  

 9605 Scranton Road, Suite 240 San Diego, CA 92121 • Phone (858) 795.3000 • Fax (858)
795.3010 
 www.kintera.com 

 

 
  

 
Disability, then in lieu of receiving the amounts set forth in Section 1(a) hereof, the Executive will be eligible to receive: (i) in a lump sum in
immediately available funds within fifteen (15) business days after the date of termination, an amount equal to the sum of (A) 100% of your annual base salary in effect at the time of termination and (B) 100% of the maximum annual
bonus for which you are eligible at the time of termination, calculated based upon the bonus period in which the termination occurs; (ii) continued eligibility to participate in medical, life, dental and disability insurance coverage for you
and your eligible dependents to the extent permitted under the applicable plans of the Company as in effect on the date of such termination, at the Company’s expense for twelve (12) months; and (iii) any unvested shares of restricted
stock, unvested options or other equity-based compensation awards held by you automatically shall become 100% vested. Your eligibility to receive the severance set forth in this Section 1(b) is conditioned on you having first signed a release
agreement in the form attached as Exhibit A. Upon satisfaction of the Company’s obligations under this Section 1(b), all other obligations of the Company under this letter shall cease. 
 1. For purposes of Section 1(b), “Good Reason” shall mean any one or more of the following: (i) without your
express written consent, the relocation of the principal place of your service to a location that is more than fifty (50) miles from your principal place of service immediately prior to the date of the Change in Control; (ii) any failure
by the Company to pay, or any reduction by the Company of your base salary in effect immediately prior to the date of the Change in Control; (iii) any failure by the Company to (1) continue to provide to you a package of welfare benefit
plans that, taken as a whole, provide substantially similar benefits to those to which you were entitled immediately prior to the Change in Control (except that your contributions may be increased to the extent of any cost increases imposed by third
parties) or (2) provide you with all other fringe benefits (or their equivalent) from time to time in effect for the benefit of any employee of the Company; or (iv) a change your position with the Company which materially reduces your
level of responsibility. 
 2. For purposes of Section 1(b), the term “Change in Control” shall have the
meaning set forth in the Company’s 2003 Equity Incentive Plan. 
 c. Termination Due to Disability. Your employment shall
terminate automatically if you become Disabled. You shall be deemed Disabled if you are unable for medical reasons to perform your essential job duties for either ninety (90) consecutive calendar days or one hundred twenty (120) business
days in a twelve (12) month period and, within thirty (30) days after a notice of termination is given to you, you have not returned to work. If your employment is terminated by the Company due to your Disability, all obligations of the
Company under this Agreement shall cease, other than those set forth in Section 2. 
  

 9605 Scranton Road, Suite 240 San Diego, CA 92121 • Phone (858) 795.3000 • Fax (858) 795.3010

 www.kintera.com 

 

 
  

 d. Termination Due to Death. Your employment shall terminate automatically upon your death. If
your employment is terminated due to your death, all obligations of the Company under this Agreement shall cease, other than those set forth in Section 2. 
 e. Termination by Company for Cause. Where the Company terminates your employment for Cause, all obligations of the Company under this Agreement shall cease, other than those set forth in Section 2 below.
For purposes of this Agreement, “Cause” shall mean: (i) your theft, dishonesty, or falsification of any Company documents or records; (ii) your improper use or disclosure of the Company’s confidential or proprietary
information; (iii) any action by you which has a detrimental effect on the Company’s reputation or business; (iv) your failure or inability to perform adequately any reasonable assigned duties as determined by the Company;
(v) any violation by you of any material agreement between you and the Company, which breach is not cured to the extent that the applicable agreement provides for a cure period, or any breach of any material Company policy or material statutory
duty to the Company; or (vi) your conviction (including any plea of guilty or nolo contendere) of any felony or crime involving moral turpitude or dishonesty. 
 f. Executive’s Resignation. Where Executive resigns Executive’s employment under circumstances other than those governed by Section 1(b), all obligations of the Company under this letter shall
cease, other than those set forth in Section 2. 
 g. Delayed Payments. In the event that Section 409A (“409A”) of
the Internal Revenue Code of 1986, as amended (the “Code”), applies to any compensation with respect to your termination, payment of that compensation shall be delayed if you are a “specified employee,” as defined in
409A(a)(2)(B)(i), and such delayed payment is required by 409A. Such delay shall last six (6) months from the date of your termination. On the day following the end of such six-month period, the Company shall make a catch-up payment to you
equal to the total amount of such payments that would have been made during the six-month period but for this Section 1(g). 
  

	2.	AT-WILL EMPLOYMENT 

 Your employment shall continue
to be “at-will” at all times. The Company or you may terminate your employment with the Company at any time, without any advance notice, for any reason or no reason at all, notwithstanding anything to the contrary contained in or arising
from any statements, policies or practices of the Company relating to the employment, discipline or termination of its employees. Following the termination of your employment, the Company shall pay to Executive all compensation to which Executive is
entitled up through the date of termination. Thereafter, all obligations of the Company under this Agreement shall cease other than those set forth in Section 1. 
  

 9605 Scranton Road, Suite 240 San Diego, CA 92121 • Phone (858) 795.3000 • Fax (858) 795.3010

 www.kintera.com 

 

 
  

	3.	ENTIRE AGREEMENT 

 This letter, together with
Exhibit A and documents governing stock option awards issued to you prior to the date of this letter, is intended to be the final, complete, and exclusive statement of the subject matter hereof. This letter may not be contradicted by evidence
of any prior or contemporaneous statements or agreements, except for agreements specifically referenced herein (including the stock option award and stock option agreement governing Executive’s outstanding equity awards and the Proprietary
Information Agreement attached as Exhibit A). To the extent that the practices, policies or procedures of the Company, now or in the future, apply to you and are inconsistent with the terms of this letter, you shall be entitled to the benefit
of the provisions more favorable to you. Any subsequent change in your duties, position, or compensation will not affect the validity or scope of this letter. 
 * * * * * * * * * * 
 We hope your employment with Kintera, Inc. will continue to prove mutually rewarding, and we look
forward to continuing to work with you. On behalf of the Committee and the entire organization, we are very pleased to have you on the Kintera, Inc. team, and we look forward to your continued contribution. If you have any questions, please contact
Brett Coin (858) 357-5535. 
  

	
	Sincerely,
	
	

	Brett Coin
	Vice President, Human Resources

 * * * * * * * * * * 
 I have read this letter in its entirety and agree to the terms and conditions described in these documents. I understand and agree that my employment with Kintera, Inc. continues to be at-will. 
  

					
	Dated ________________	 		 	  
		 		 	By: ________________

  

 9605 Scranton Road, Suite 240 San Diego, CA 92121 • Phone (858) 795.3000 • Fax (858) 795.3010

 www.kintera.comCredit Agreement

 Exhibit 10.1 
 CREDIT AGREEMENT 
 THIS AGREEMENT dated for reference March 17, 2008 is between: 
 IONIC CAPITAL CORP., an Alberta corporation, having an office at Suite 1028, 550 Burrard Street, Vancouver, British Columbia V6C 2B5 
 (the “Lender”) 
 AND: 
 HYCROFT RESOURCES & DEVELOPMENT, INC., a Nevada corporation, having its chief executive office at 9604 Prototype Court, Reno, Nevada 89521

 (the “Borrower”) 
 AND:

 ALLIED NEVADA GOLD CORP., a Delaware corporation, having its chief executive office at 9604 Prototype Court, Reno, Nevada 89521

 (“Allied Nevada”) 
 AND:

 HYCROFT LEWIS MINE, INC., a Nevada corporation, having its chief executive office at 9604 Prototype Court, Reno, Nevada 89521

 (“Hycroft Lewis”) 
 AND:

 VICTORY EXPLORATION INC., a Nevada corporation, having its chief executive office at 9604 Prototype Court, Reno, Nevada 89521

 (“Victory Exploration”) 
 AND:

 VICTORY GOLD INC., a Nevada corporation, having its chief executive office at 9604 Prototype Court, Reno, Nevada 89521 

(“Victory Gold”) 
 AND: 
 ALLIED VGH INC., a Nevada corporation, having its chief executive office at 9604 Prototype Court, Reno, Nevada 89521 
 (“Allied VGH”) 
 AND: 
  

					
		  		  	

 ALLIED NEVADA GOLD HOLDINGS LLC, a Nevada limited liability corporation, having its chief
executive office at 9604 Prototype Court, Reno, Nevada 89521 
 (“Allied Holdings”) 
 AND: 
 ALLIED VNC INC., a Nevada corporation, having
its chief executive office at 9604 Prototype Court, Reno, Nevada 89521 
 (“Allied VNC”) 
 (Allied Nevada, Hycroft Lewis, Victory Exploration, Victory Gold, Allied VGH, Allied Holdings and Allied VNC are collectively referred to herein as the
“Guarantors”) 
 BACKGROUND 
 A. The
Lender has agreed to lend to the Borrower and the Borrower has agreed to borrow from the Lender the aggregate principal amount of up to CAD$27,000,000, on the terms and subject to the conditions of this Agreement. 
 B. The Guarantors are affiliated with the Borrower and have requested that the Lender advance the Facility to the Borrower pursuant to this Agreement, and to induce the
Lender to make such advance have agreed to execute and deliver this Agreement and the security contemplated herein, including but not limited to guarantees of all obligations of the Borrower to the Lender in respect of the Facility. 
 C. The Guarantors acknowledge that by virtue of their relationship with the Borrower they will benefit from the advance of the Facility by the Lender to the Borrower
pursuant to this Agreement. 
 AGREEMENTS 
 For good and
valuable consideration, the receipt and sufficiency of which each party acknowledges, the parties agree as follows: 
  

	1.	Definitions. In this Agreement: 

  

	 	(a)	“Advance” means any of the Initial Advance and any Subsequent Advance; 

  

	 	(b)	“Allied Nevada” means Allied Nevada Gold Corp., a Delaware corporation; 

  

	 	(c)	“Allied Holdings” means Allied Nevada Gold Holdings LLC, a Nevada limited liability corporation; 

  

	 	(d)	“Allied VGH” means Allied VGH Inc., a Nevada corporation; 

  

	 	(e)	“Allied VNC” means Allied VNC Inc., a Nevada corporation; 

  

	 	(f)	“Bonus” has the meaning set forth in paragraph 8 below; 

  

					
		  	- 2 -	  	

	 	(g)	“Borrower” means Hycroft Resources & Development, Inc., a Nevada corporation; 

  

	 	(h)	“Business Day” means a day which is not a Saturday, Sunday or a statutory holiday in the State of Nevada; 

  

	 	(i)	“Collateral Properties” means collectively, the Maverick Springs, Mountainview, Hasbrouck, Three Hills and Wildcat properties now owned by the Credit Parties, as
those properties are described in the Preliminary Prospectus; 

  

	 	(j)	“control” has the meaning set forth in subparagraph 15(m) below; 

  

	 	(k)	“Credit Parties” means collectively the Borrower and the Guarantors, and “Credit Party” means any one of them; 

  

	 	(l)	“Drawing Notice” means the drawing notice and certification in form attached as Schedule “C” hereto; 

  

	 	(m)	“Event of Default” has the meaning set forth in paragraph 15 below; 

  

	 	(n)	“Exchange” means The Toronto Stock Exchange; 

  

	 	(o)	“Facility” means the $27,000,000 credit facility granted by the Lender to the Borrower pursuant to this Agreement; 

  

	 	(p)	“Final Approval” has the meaning set forth in subparagraph 12(k) below; 

  

	 	(q)	“Guarantors” means collectively, Allied Nevada, Hycroft Lewis, Victory Exploration, Victory Gold, Allied VGH, Allied Holdings and Allied VNC and
“Guarantors” means any one of them; 

  

	 	(r)	“Hycroft Lewis” means Hycroft Lewis Mine, Inc., a Nevada corporation; 

  

	 	(s)	“Hycroft Mine” means the Hycroft open pit mine located near Winnemucca, Nevada comprised of the Hycroft Mining Properties and all present and after-acquired
personal property derived from or used or acquired for use in connection therewith; 

  

	 	(t)	“Hycroft Mine Plan of Operations” means the plan of operations filed by the Borrower with the US Bureau of Land Management and the Nevada Division of Environmental
Protection; 

  

	 	(u)	“Hycroft Mining Properties” means the mining properties described in the attached Schedule “A”; 

  

	 	(v)	“Initial Advance” shall mean the first advance under the Facility, which in any event shall be drawn down in an amount of CAD$10,000,000, subject to the conditions
precedent set forth in paragraph 10 below; 

  

	 	(w)	“Lender” means Ionic Capital Corp., an Alberta corporation; 

  

					
		  	- 3 -	  	

	 	(x)	“Liens” means any mortgage, charge, lien, hypothec or encumbrance, whether fixed or floating on, or any security interest in, any property, whether real, personal
or mixed, tangible or intangible, any pledge or hypothecation of any property, any deposit arrangement, priority, conditional sale agreement, other title retention agreement or equipment trust, capital lease or other security arrangement of any
kind.; 

  

	 	(y)	“Permitted Encumbrances” means (i) all Liens registered against the title to the Hycroft Mining Properties on the date hereof described in the title opinion of
the Credit Parties’ US counsel dated March 18, 2008 delivered to the Lender in connection with the transactions described herein, and (ii) the Liens described in the attached Schedule “E”; 

  

	 	(z)	“Preliminary Prospectus” means the amended and restated preliminary prospectus of Allied Nevada dated March 7, 2008, as filed on SEDAR;

  

	 	(aa)	“Outstanding Balance” has the meaning set forth in paragraph 4(a) below; 

  

	 	(bb)	“Standby Fee” has the meaning set forth in paragraph 7 below; 

  

	 	(cc)	“Structuring Fee” has the meaning set forth in paragraph 6 below; 

  

	 	(dd)	“Subsequent Advance” means any advance under the Facility subsequent to the Initial Advance which, in any event shall be drawn down in multiples of $500,000 each
and which in aggregate together with the Initial Advance and all Subsequent Advances shall not exceed the aggregate amount of the Facility, and subject to the conditions precedent set forth in paragraph 10 below; 

  

	 	(ee)	“Subsidiaries” means, with respect to the Credit Parties, any corporation of which at least a majority of the outstanding shares to which there is attached voting
power under ordinary circumstances to elect a majority of the board of directors of such corporation, shall at the relevant time be owned directly or indirectly by the Credit Parties, one or more Subsidiaries of the Credit Parties, or any
combination thereof, but shall not include Mineral Ridge Resources Inc., a Nevada corporation, which is in the process of dissolution, and for greater certainty, shall include those corporations listed on Schedule “D” hereto, and
“Subsidiary” shall mean any one of them; 

  

	 	(ff)	“Term Sheet” means the Term Sheet for Credit Facility dated February 11, 2008, between Allied Nevada and the Lender; 

  

	 	(gg)	“Victory Exploration” means Victory Exploration Inc., a Nevada corporation; and 

  

	 	(hh)	“Victory Gold” means Victory Gold Inc. a Nevada corporation. 

  

	2.	Facility Advance. Subject to and upon the fulfilment of the conditions precedent contained in paragraphs 10 and 11 of this Agreement, as the case may be, the Lender will
advance the principal amount of the Facility to the Borrower or as the Borrower may otherwise direct. 

  

	3.	Use of Proceeds. The Borrower covenants and agrees with the Lender that the Facility proceeds will be used by the Borrower for working capital and other operating expenses
relating to the re-opening and operation of the Hycroft Mine, all as more particularly described in the Preliminary Prospectus, and for no other purpose whatsoever without the express written consent of the Lender. 

  

					
		  	- 4 -	  	

	4.	Term and Prepayment. 

  

	 	(a)	Subject to the rights of the Lender under Section 16 to accelerate payment of all monies owing hereunder, the principal amount of each Advance, together with all accrued but
unpaid interest, bonus and other costs or charges payable hereunder from time to time (collectively the “Outstanding Balance”), will be immediately due and payable by the Borrower to the Lender on March 30, 2009.

  

	 	(b)	If after the Advance of the Facility, the Credit Parties or any of their respective Subsidiaries sell or otherwise dispose of any assets outside of the ordinary course of business
(except for the sale of the Treasure Hill, White Pine Count, Nevada property to Golden Predator Mines US Inc. and the Wonder, Churchill County, property to Century Gold LLC on terms substantially similar to those disclosed to the Lender in writing
prior to the date of this Agreement), or close one or more equity or debt financings (except for a proposed prospectus offering of equity securities by Allied Nevada pursuant to the Preliminary Prospectus and further provided that such offering
closes within three months of the date of this Agreement), the Credit Parties will pay or cause to be paid to the Lender all proceeds from such sale, disposition or financing, net of reasonable selling or financing costs, up to the full amount of
the Outstanding Balance, to be applied on account of the Facility. 

  

	 	(c)	The Credit Parties may prepay the Facility in whole at any time before maturity, without notice or penalty, provided that such prepayment occurs on the last Business Day of any
calendar month during the term of the Facility and further provided that the Borrowers have delivered to the Lender written notice of its intention to prepay the Facility not less than ten (10) Business Days’ prior to such prepayment.

  

	5.	Interest. Interest will accrue on the Outstanding Balance from the date of Advance at the rate of twelve percent (12%) per annum, calculated daily and compounded monthly
(effective annual rate of 12.68%), and be payable by the Borrower to the Lender monthly on the last Business Day of every month, as well as after maturity, default and judgment. In the case of the Initial Advance, the parties hereto acknowledge and
agree that interest shall accrue from and after March 18, 2008 regardless of whether the proceeds of the Initial Advance are delivered or otherwise made available to the Borrowers. 

  

	6.	Structuring Fee. In consideration for the Lender entering into this Agreement, the Borrower shall pay to the Lender a non-refundable $135,000 structuring fee concurrently
with the Initial Advance (the “Structuring Fee”). 

  

	7.	Standby Fee. In consideration for the Lender entering into this Agreement, the Borrower shall pay to the Lender a non-refundable $1,080,000 standby fee concurrently with the
Initial Advance (the “Standby Fee”). 

  

	8.	Bonus. As additional consideration for each Advance under the Facility and concurrently therewith, the Borrower shall make a non-refundable bonus payment to the Lender in the
amount of five percent (5%) of the principal amount of each Advance (the “Bonus”). 

  

					
		  	- 5 -	  	

	9.	Security. As security for the Facility the Credit Parties will execute and deliver, or cause to be executed and delivered, to the Lender: 

  

	 	(a)	unlimited guarantees from each of the Guarantors, under which the Guarantors will guarantee all obligations of the Borrower to the Lender; 

  

	 	(b)	security agreements from each of the Credit Parties, under which the Credit Parties will grant to the Lender first priority security interests in all present and after acquired
personal property of the Credit Parties, subject only to Permitted Encumbrances; 

  

	 	(c)	deeds of trust, security agreement, assignment of leases and rents and fixture filing to secure promissory note and guaranty, and other documents incidental thereto or required by
the Lender or its counsel thereunder from each of the Credit Parties with an interest in the Hycroft Mine, under which such Credit Parties will grant to the Lender first priority mortgage, charge, assignment and security interest in all of their
respective right, title and interest in and to the Hycroft Mine now or hereafter owned by such Credit Parties, subject only to Permitted Encumbrances; 

  

	 	(d)	deeds of trust, security agreement, assignment of leases and rents and fixture filing to secure promissory note and guaranty, and other documents incidental thereto or required by
the Lender or its counsel thereunder from each of the Credit Parties with an interest in the Collateral Properties, under which such Credit Parties will grant to the Lender first priority mortgage, charge, assignment and security interest in all of
their respective right, title and interest in and to the Collateral Properties now or hereafter owned by such Credit Parties, subject only to Permitted Encumbrances; 

  

	 	(e)	share pledge agreements from each of the Credit Parties with Subsidiaries, under which each such Credit Party will pledge and grant to the Lender a first priority security interest
in all of the issued and outstanding shares of each such Subisidiary, together with all share certificates representing the pledge shares thereunder, and all transfer forms and directors resolutions as may be required to effect the transfer of such
pledge shares; 

  

	 	(f)	an environmental indemnity agreement in favour of the Lender; and 

  

	 	(g)	such other security as the Lender may reasonably require; 

 all in form and terms satisfactory to the Lender and its counsel (collectively, the “Security”). 
  

	10.	Conditions Precedent to Initial Advance. As conditions precedent to the Initial Advance under the Facility by the Lender: 

  

	 	(a)	the Borrower will have: 

  

	 	(i)	executed and delivered to the Lender a Drawing Notice prior to the date of the Initial Advance; and 

  

	 	(ii)	executed and delivered to the Lender a promissory note in the form attached hereto as Schedule “B” (the “Note”) in the principal amount of the Initial
Advance; 

  

					
		  	- 6 -	  	

	 	(b)	the Credit Parties will have: 

  

	 	(i)	executed and delivered or caused to be executed and delivered all of the security documents referred to in paragraph 9 above and the documents, securities and instruments referred
therein, except that security referred to in subparagraph 9(d) above, and the Lender will have completed all registrations and other filings that may be prudent or necessary to perfect the Lender’s security therein; 

  

	 	(ii)	delivered certified copies of their directors’ resolutions authorizing the borrowing or guaranteeing of the Facility, as the case may be, the grant of the Security and the
execution and delivery of this Agreement and all agreements, documents and instruments referred to herein, together with officer’s certificates, certifying certain factual matters; and 

  

	 	(iii)	caused to be executed and delivered legal opinions of the Credit Parties’ Canadian and United States counsel, in form and terms satisfactory to the Lender and its counsel,
acting reasonably; 

  

	 	(c)	the representations and warranties of the Credit Parties contained in paragraph 12 will be true and correct in all material respects and the Credit Parties will have complied with
all covenants required to be complied with by them prior to the Initial Advance under the Facility by the Lender (including but not limited to the payment of the Structuring Fee, the Standby Fee and that portion of the Bonus payable in connection
with the Initial Advance); 

  

	 	(d)	there shall have been no adverse material change in the business, operations, assets or ownership of the Credit Parties or any of their respective Subsidiaries, taken as a whole,
since the date of the Term Sheet; 

  

	 	(e)	the Lender will have completed and, in its sole and absolute discretion, be satisfied with its due diligence review of the Credit Parties and their respective Subsidiaries,
properties and assets, including but not limited to the Hycroft Mine and all valuations, mine plans, budgets, permits and pro forma financial statements in respect thereof, and shall have satisfactorily completed a site visit of the Hycroft Mine;

  

	 	(f)	the Lender will, in its sole and absolute discretion, be satisfied as to the creditworthiness of the Credit Parties and their respective Subsidiaries and the adequacy of the
collateral security contemplated herein; 

  

	 	(g)	the Lender shall have completed the syndication of the Facility; and 

  

	 	(h)	the Lender shall have received the approval of its board of directors; 

 all in form and terms satisfactory to the Lender and its counsel. If any of the foregoing conditions precedent are not satisfied or waived by the Lender in writing on or before March 18, 2008, this Agreement will terminate, and the
Lender will be under no further obligation to the Credit Parties in connection with the transaction contemplated herein. 
  

	11.	Conditions Precedent to Subsequent Advances. As conditions precedent to all Subsequent Advances under the Facility by the Lender: 

  

					
		  	- 7 -	  	

	 	(a)	the Borrower will have executed and delivered to the Lender: 

  

	 	(i)	a Drawing Notice not less than five (5) Business Days prior to the date of such Subsequent Advance; 

  

	 	(ii)	a Note in the principal amount of the Subsequent Advance; and 

  

	 	(iii)	executed and delivered, or caused to be executed and delivered, title opinions of the Credit Parties’ US counsel in respect of the Collateral Properties in form and terms
satisfactory to the Lender and its counsel, together with all of the security documents referred to in subparagraph 9(d) above and the documents, securities and instruments referred therein, and the Lender will have completed all registrations and
other filings that may be prudent or necessary to perfect the Lender’s security therein; 

  

	 	(b)	the Credit Parties will have executed and delivered to the Lender officer’s certificates of the Credit Parties, certifying certain factual matters, substantially in the form
provided on the Initial Advance; 

  

	 	(c)	the representations and warranties of the Credit Parties contained in paragraph 12 will be true and correct in all material respects and the Credit Parties will have complied with
all covenants required to be complied with by them prior to each Subsequent Advance under the Facility by the Lender (including but not limited to the payment of that portion of the Bonus payable in connection with such Subsequent Advance);

  

	 	(d)	there shall have been no adverse material change in the business, operations, assets or ownership of the Credit Parties or any of their respective Subsidiaries, taken as a whole,
since the date of the Term Sheet; 

  

	 	(e)	the Lender will have completed and, in its sole and absolute discretion, be satisfied with its due diligence review of the Credit Parties, their Subsidiaries and their respective
properties and assets, including but not limited to the Hycroft Mine; and 

  

	 	(f)	the Lender will, in its sole and absolute discretion, be satisfied as to the creditworthiness of the Credit Parties and their Subsidiaries and the adequacy of the collateral
security contemplated herein. 

 If any of the foregoing conditions precedent are not satisfied or waived by the Lender in writing on or before
July 31, 2008, the Lender will be under no obligation to the Borrowers to make any Subsequent Advances contemplated herein. 
  

	12.	Representations and Warranties. The Credit Parties represent and warrant to the Lender as follows: 

  

	 	(a)	each of the Credit Parties exist as a company under the law of its jurisdiction of incorporation, and has not discontinued or been dissolved under that Law and is in good standing
with respect to the filing of annual reports thereunder; 

  

	 	(b)	 each of the Credit Parties has the power and authority to (i) carry on its business as now being conducted and is licensed or registered or otherwise qualified
in all jurisdictions 

  

					
		  	- 8 -	  	

	 	 
where in the nature of its assets or the business transacted makes such licensing, registration or qualification necessary, (ii) acquire, own, hold,
lease and mortgage or grant security in its assets including real property and personal property and (iii) enter into and perform its obligations under this Agreement and all other documents or instruments delivered hereunder;

  

	 	(c)	this Agreement and all ancillary instruments or documents issued, executed and delivered hereunder by each of the Credit Parties, has been duly authorized by all necessary action of
each of the Credit Parties and each constitutes or will constitute a legal, valid and binding obligation of each, enforceable against each of the Credit Parties in accordance with their terms, subject to applicable bankruptcy, insolvency,
reorganization, moratorium and other similar laws affecting the rights and remedies of creditors and to the general principles of equity; 

  

	 	(d)	none of the Credit Parties nor any Subsidiary is in breach of or in default under any agreement which if terminated or cancelled could reasonably be expected to have a material
adverse effect on the business, properties or assets of the Credit Parties, or any obligation in respect of borrowed money and the execution and delivery of this Agreement and all ancillary instruments or documents issued and delivered hereunder or
thereunder, and the performance of the terms hereof and thereof will not be, or result in, a violation or breach of, or default under the Credit Parties’ or any Subsidiary’s constating documents, any law, any judgment, agreement or
instrument to which they are a party or may be bound; 

  

	 	(e)	the Security creates a valid first registered charge, lien and security interest on the Hycroft Mine, subject only to Permitted Encumbrances; 

  

	 	(f)	no litigation or administrative proceedings before any court or governmental authority are presently ongoing, or have been threatened in writing, or to the best of the Credit
Parties’ knowledge are pending, against any of the Credit Parties or any Subsidiary or any of their respective properties or assets or affecting any of their properties or assets which could reasonably be expected to have a material adverse
effect on their business, properties or assets; 

  

	 	(g)	the audited annual consolidated financial statements for Allied Nevada for the fiscal period ended December 31, 2007, including all management’s discussion and analysis
publicly disclosed in connection therewith (collectively, the “Financial Statements”), fairly present the financial affairs of Allied Nevada and its Subsidiaries as of the date to which they are made, and have been prepared in
accordance with United States of America generally accepted accounting principles, consistently applied (“US GAAP”); 

  

	 	(h)	Allied Nevada is in compliance, in all material respects, with its continuous disclosure obligations under applicable securities laws and, without limiting the generality of the
foregoing, there has been no adverse material change (actual, contemplated or threatened) in the property, assets, business or operations of any of the Credit Parties or any of their respective Subsidiaries, taken as a whole, since the date of
release of the Financial Statements, other than as publicly disclosed in writing by Allied Nevada prior to the date of this Agreement; 

  

					
		  	- 9 -	  	

	 	(i)	the Borrower, Hycroft Lewis and Victory Exploration are the legal and beneficial owners of Hycroft Mine, subject only to Permitted Encumbrances and any and all agreements pursuant
to which any of the Borrower, Hycroft Lewis or Victory Exploration holds or will hold any interest in the Hycroft Mine are in good standing in all material respects under the applicable statutes and regulations of the jurisdictions in which they are
situated; 

  

	 	(j)	the information circulars, prospectuses (including the Preliminary Prospectus), annual information forms, offering memoranda, financial statements, material change reports and news
releases filed with the Exchange and the Securities Commissions in those jurisdictions in which Allied Nevada is a reporting issuer on or during the twelve (12) months preceding the date hereof (collectively, the “Public
Record”), is complete and accurate in all material respects and omits no facts, the omission of which makes the Public Record, or any particulars therein, misleading, misrepresentative or incorrect in any material respect;

  

	 	(k)	the Credit Parties and their respective Subsidiaries have conducted and are conducting their respective businesses in compliance with all applicable laws, bylaws, rules and
regulations of each jurisdiction in which their businesses are now carried on and hold all licenses, registrations, permits, consents or qualifications (whether governmental, regulatory or otherwise) required in order to enable their businesses to
be carried on as now conducted and, upon receipt of the final approval of the US Bureau of Land Management and the Nevada Division of Environmental Protection (the “Final Approval”) of the Hycroft Mine Plan of Operations, as
proposed to be conducted by the Borrower, and except for the Final Approval, all such licenses, registrations, permits, consents and qualifications are valid and subsisting and in good standing and none of the Credit Parties nor any Subsidiary have
received any notice of proceedings relating to the revocation or modification of any such licenses, registrations, permits, consents or qualifications which could reasonably be expected to have any materially adverse affect on, the condition of such
businesses, operations, condition (financial or otherwise) or income of the Borrowers or any Subsidiary; 

  

	 	(l)	no order ceasing or suspending trading in securities of any of the Credit Parties or prohibiting the sale of securities by any of the Credit Parties has been issued and no
proceedings for this purpose have been instituted, are pending, contemplated or threatened; 

  

	 	(m)	neither Canada Revenue Agency, the Internal Revenue Service, nor any other taxation authority has asserted or, to the best of the Credit Parties’ knowledge, has threatened to
assert any assessment, claim or liability for taxes due or to become due in connection with any review or examination of the tax returns of any of the Credit Parties or any Subsidiary filed for any year which would have material adverse effect on
the assets, properties, business, results of operations, prospects or condition (financial or otherwise) of the Credit Parties or any Subsidiary; 

  

	 	(n)	none of the Credit Parties nor any Subsidiary is a party to any material contract other than as disclosed in the Public Record; 

  

	 	(o)	 Allied Nevada is a reporting issuer under the Securities Acts of all Canadian Provinces and the Yukon Territory and is in compliance with its material
obligations under those 

  

					
		  	- 10 -	  	

	 	 
Acts and under the rules, regulations and policies of the Exchange, and will use its best efforts to maintain such status, without default, from the date
hereof until repayment in full of the Facility to the Lender; 

  

	 	(p)	as at the date of this Agreement, except as disclosed in the Financial Statements, in any filings within any governmental body or securities regulatory authority or to the Lender in
writing and as contemplated by this Agreement, no holder of outstanding shares in the capital of the Credit Parties will be entitled to any pre-emptive or any similar rights to subscribe for any of the shares in the capital of the Credit Parties or
other securities of the Credit Parties, and no rights, warrants or options to acquire, or instruments convertible into or exchangeable for any shares in the capital of the Credit Parties are outstanding; 

  

	 	(q)	except as disclosed on Schedule “D” hereto, the Credit Parties have no direct or indirect subsidiary corporations; 

  

	 	(r)	the Credit Parties and all Subsidiaries own their respective business, operations and assets, as more particularly described in the Public Record (including but not limited to the
Hycroft Mine), and hold good title thereto, free and clear of all liens, claims or encumbrances whatsoever, other than Permitted Encumbrances; 

  

	 	(s)	all factual information previously or contemporaneously furnished to the Lender by or on behalf of the Credit Parties for purposes of or in connection with this Agreement or any
transaction contemplated hereby, is true and accurate in every material respect and such information is not incomplete by the omission of any material fact necessary to make such information not misleading; 

  

	 	(t)	the Credit Parties and their respective Subsidiaries are solvent and are generally able to pay their debts as they come due and will be able to do so after giving effect to the
transactions contemplated in this Agreement; and 

  

	 	(u)	the chief executive, principal place of business and place where each of the Credit Parties and each Subsidiary keep their books and records is located at 9604 Prototype Court,
Reno, Nevada 89521. 

  

	13.	Positive Covenants of the Credit Parties. The Credit Parties covenant and agree that so long as any monies will be outstanding under this Agreement, they will:

  

	 	(a)	at all times maintain their corporate existence and the corporate existence of all of their Subsidiaries; 

  

	 	(b)	duly perform their obligations under this Agreement and all other agreements and instruments executed and delivered hereunder or thereunder; 

  

	 	(c)	execute and deliver, or caused to be executed and delivered, title opinions of the Credit Parties’ US counsel in respect of the Collateral Properties together with all of the
security documents referred to in subparagraph 9(d) above and the documents, securities and instruments referred therein, duly executed by the Credit Parties, in form and terms satisfactory to the Lender and its counsel, all on or before
April 30, 2008; 

  

					
		  	- 11 -	  	

	 	(d)	promptly pay when due all agency or finders’ fees payable in connection with the Facility or this Agreement and indemnify and save harmless the Lender from all claims in
respect of any such fees; 

  

	 	(e)	carry on and conduct their business in a proper business-like manner in accordance with good business practice and will keep or cause to be kept proper books of account in
accordance with US GAAP; 

  

	 	(f)	at all times comply with all applicable laws, except where such voluntary non-compliance could not reasonably be expected to have a material adverse effect on the business,
properties or assets of any of the Credit Parties or any Subsidiary; 

  

	 	(g)	pay and discharge promptly when due, all taxes, assessments and other governmental charges or levies imposed upon it or upon its properties or assets or upon any part thereof, as
well as all claims of any kind (including claims for labour, materials and supplies) which, if unpaid, would by law become a lien, charge, trust or other claims upon any such properties or assets, provided however that the Credit Parties shall not
be required to pay any such tax, assessment, charge or levy or claim so long as it remains secured by a Permitted Lien; 

  

	 	(h)	give to the Lender within three (3) Business Days of filing on SEDAR copies of all documents or instruments publicly filed by Allied Nevada on SEDAR, together with such other
financial or other management reports, certificates, updated financial statements, including monthly internal financial and operational reports and documents and such other information with respect to the Credit Parties or the Subsidiaries as the
Lender may reasonably request from time to time during the term of this Agreement; 

  

	 	(i)	provide the Lender with written notice of any proposed financing made by or to the Credit Parties concurrently with, but not prior to, public disclosure of such financing;

  

	 	(j)	furnish and give to the Lender (if such is the case) notice that an Event of Default has occurred and, if applicable, is continuing or notice in respect of any event which would
constitute an Event of Default hereunder and specifying the nature of same; and 

  

	 	(k)	perform and do all such acts and things as are necessary to perfect and maintain the security provided to the Lender pursuant to this Agreement. 

  

	14.	Negative Covenants of the Credit Parties. The Credit Parties covenant and agree with the Lender that the Credit Parties will not without first obtaining the written consent
of the Lender: 

  

	 	(a)	except for the Security and Permitted Encumbrances, make, give, create or permit or attempt to make, give or create any mortgage, charge, lien or encumbrance over any assets of the
Credit Parties or any Subsidiary; 

  

	 	(b)	change the name of any Credit Parties or any Subsidiary; 

  

	 	(c)	 allot and issue any new shares of any Subsidiary, unless in the case of a Subsidiary whose shares have been pledged or otherwise subject to a security interest in
favour of the Lender as part of the Security, the share certificates representing all such new shares allotted and issued are delivered to the Lender, together with powers of attorney and 

  

					
		  	- 12 -	  	

	 	 
such other transfer documents as the Lender or its counsel may require, to be held by the Lender pursuant to the Security as additional security for the
obligations of the Borrower to the Lender in respect of the Facility; 

  

	 	(d)	in the case of Allied Nevada, declare or provide for any dividends or other payments based on share capital; 

  

	 	(e)	in the case of Allied Nevada, redeem or purchase any of its shares; 

  

	 	(f)	except for the sale of the Treasure Hill property to Golden Predator Mine US Inc. on terms disclosed to the Lender in writing before the date of this Agreement, make any sale of or
dispose of any substantial or material part of its business, assets or undertaking, or that of any Subsidiary, including its interest in the shares or assets of any Subsidiary outside of the ordinary course of business; 

  

	 	(g)	save and except for purchase money security interests, chattel mortgages, equipment leases entered into in the ordinary course of business, borrow or cause any Subsidiary to borrow
money from any person other than the Lender without first obtaining and delivering to the Lender a duly signed assignment and postponement of claim by such person in favour of the Lender, in form and terms satisfactory to the Lender;

  

	 	(h)	in respect of itself or any Subsidiary, pay out any shareholders loans or other indebtedness to non-arm’s length parties or enter into any transactions with any non-arm’s
length parties other than on commercially reasonable terms, unless such payment or transaction is with one of the other Credit Parties hereto and the proceeds of such payment and all benefits of such transaction continue to be subject to the
Security after giving effect to such payment or transaction; or 

  

	 	(i)	in respect of itself or any Subsidiary, guarantee the obligations of any other person, directly or indirectly, other than obligations permitted by this Agreement.

  

	15.	Events of Default. Each and every of the events set forth in this paragraph will be an event of default (“Event of Default”): 

  

	 	(a)	if the Borrower fails to make any payment of principal or interest when due hereunder, and such failure continues for two (2) Business Days; 

  

	 	(b)	if any of the Credit Parties default in observing or performing any material term, covenant or condition of this Agreement or any Security or other document delivered hereunder or
in connection with the Facility, other than the payment of monies as provided for in subparagraph (a) hereof, on their part to be observed or performed and such failure continues for five (5) Business Days; 

  

	 	(c)	if Allied Nevada is in default of any material prescribed filings with applicable securities regulatory authorities, the stock exchange or market on which its shares trade
(collectively, the “Authorities”), or are subject to any suspension in excess of two (2) trading days or cease trade order issued by any such Authority; 

  

					
		  	- 13 -	  	

	 	(d)	if any of the Credit Parties’ representations, warranties or other statements in this Agreement or any other collateral document delivered hereunder or in connection with the
Facility were at the time given false or misleading in any material respect; 

  

	 	(e)	if any of the Credit Parties are in default under any agreement which if terminated could reasonably be expected to result in a material adverse effect on the operations, business
or assets of any of the Credit Parties and written notice of such default has been given to the Credit Parties by the other party thereto; 

  

	 	(f)	if any of the Credit Parties default in any material respect in observing or performing any term, covenant or condition of any debt instrument or obligation in respect of borrowed
money by which they are bound in an aggregate amount of not less than $100,000; 

  

	 	(g)	if any of the Credit Parties permit any sum which has been admitted as due, or is not disputed to be due, and which forms or is capable of being made a charge upon any of the assets
or undertaking of any of the Credit Parties to remain unpaid or not challenged for 30 days after proceedings have been taken to enforce the same; 

  

	 	(h)	if any of the Credit Parties, directly or indirectly through any Subsidiary, cease or threaten to cease to carry on business; 

  

	 	(i)	if any order is made or issued by a competent regulatory authority prohibiting the trading in shares of Allied Nevada or if Allied Nevada’s common shares are suspended or
de-listed from trading on any stock exchange; 

  

	 	(j)	if, in the reasonable opinion of the Lender, an adverse material change occurs in the financial condition of any of the Credit Parties; 

  

	 	(k)	if the Lender in good faith and on commercially reasonable grounds believes that the ability of the Credit Parties or any Subsidiary, taken as a whole, to pay any of the Outstanding
Balance to the Lender or to perform any of the covenants contained in this Agreement or any Security or other agreement or document delivered hereunder is impaired or any security granted by the Borrowers or any Subsidiary to the Lender is or is
about to be impaired or in jeopardy in any material respect; 

  

	 	(l)	if any of the Credit Parties or any Subsidiary petitions or applies to any tribunal for the appointment of a trustee, receiver or liquidator or commences any proceedings under any
bankruptcy, insolvency, readjustment of debt or liquidation law of any jurisdiction, whether now or hereafter in effect; 

  

	 	(m)	any change of control of any of the Credit Parties (“control” being defined as ownership of or control or direction over, directly or indirectly, 20% or more of the
outstanding voting securities of any such Credit Parties); or 

  

	 	(n)	if any petition or application for appointment of a trustee, receiver or liquidator is filed, or any proceedings under any bankruptcy, insolvency, readjustment of debt or
liquidation law are commenced, against any of the Credit Parties or any Subsidiary which is not opposed by such Credit Parties or Subsidiary in good faith, or an order, judgment or decree is entered appointing any such trustee, receiver, or
liquidator, or approving the petition in any such proceeding. 

  

					
		  	- 14 -	  	

	16.	Effect of Event of Default. If any one or more of the Events of Default occur or occurs and is or are continuing, the Lender may without limitation in respect of any other
rights it may have in law or pursuant to this Agreement or any other document or instrument delivered hereunder, demand immediate payment of all monies owing hereunder. 

  

	17.	Lender’s Expenses. The Credit Parties will pay for the Lender’s reasonable legal fees (on a solicitor and own client basis) and all other reasonable costs, charges
and expenses (including all due diligence expenses) of and incidental to the preparation, execution and completion of this Agreement and the contemplated security hereunder, all as may be reasonably required by the Lender, in its sole and absolute
discretion, to complete this transaction, as well as all legal fees (on a solicitor and own client basis) and all other costs, charges and expenses of and incidental to the recovery of all amounts owing hereunder, including but not limited to the
enforcement of the Security granted hereunder or otherwise, which secures repayment of the Facility. All amounts will be payable within 30 days of presentment of an invoice. If not paid within that time, such amount will be added to and form part of
the principal amount of the Facility and shall accrue interest from such date as if it had been advanced by the Lender to the Borrower hereunder. 

  

	18.	Indemnity. The Credit Parties agree to indemnify and save harmless the Lender and each of its directors, officers, employees and agents from and against all liabilities,
claims, losses, damages and reasonable costs and expenses in any way caused by or arising directly or indirectly from or in consequence of the occurrence of any Event of Default under this Agreement. 

  

	19.	Notices. In this Agreement: 

  

	 	(a)	any notice or communication required or permitted to be given under this Agreement will be in writing and will be considered to have been given if delivered by hand, transmitted by
facsimile transmission or mailed by prepaid registered post to the address or facsimile transmission number of each party set out below: 

  

					
	(i)	  	if to the Lender:
		
		  	Ionic Capital Corp.
		  	Suite 1028, 550 Burrard Street
		  	Vancouver, BC V6C 2B5
			
		  	Attention:	 	A. Murray Sinclair
		  	Fax No:	 	(604) 681-4692
		
	(ii)	  	if to any of the Credit Parties:
		
		  	c/o Allied Nevada Gold Corp.
		  	9604 Prototype Court
		  	Reno, Nevada 89521
			
		  	Attention:	 	Hal Kirby
		  	Fax No:	 	(775) 358-4458
		
		  	or to such other address or facsimile transmission number as any party may designate in the manner set out above; and

  

					
		  	- 15 -	  	

	 	(b)	notice or communication will be considered to have been received: 

  

	 	(i)	if delivered by hand during business hours on a Business Day, upon receipt by a responsible representative of the receiver, and if not delivered during business hours, upon the
commencement of business on the next Business Day; 

  

	 	(ii)	if sent by facsimile transmission during business hours on a Business Day, upon the sender receiving confirmation of the transmission, and if not transmitted during business hours,
upon the commencement of business on the next Business Day; and 

  

	 	(iii)	if mailed by prepaid registered post upon the fifth Business Day following posting; except that, in the case of a disruption or an impending or threatened disruption in postal
services every notice or communication will be delivered by hand or sent by facsimile transmission. 

  

	20.	Assignment. The Credit Parties acknowledge and agree that the Lender may assign all or part of the Facility, this Agreement and all collateral agreements, documents or
instruments delivered hereunder to one or more assignees, free from any right of set-off or counterclaim or equity (other than such as arise under this Agreement or the Security), subject only to the Lender’s notification of such assignment or
assignments being given in writing to the Credit Parties. 

  

	21.	Agreement to Pay. Upon receipt of written notice and direction from the Lender, the Borrower covenants and agrees to make all payments of interest, bonus, standby, principal
and structuring fees due under this Agreement to the Lender and any assignee, pro rata in accordance with their respective proportionate interests in the Facility as set out in such written notice and direction, absent which all such payments may be
made to the Lender. 

  

	22.	Enurement. This Agreement will enure to the benefit of and be binding upon the parties hereto and their respective successors and permitted assigns. 

 

	23.	Waivers. No failure or delay on the Lender’s part in exercising any power or right hereunder will operate as a waiver thereof. 

  

	24.	Joint Obligations. The agreements of, and all obligations and covenants to be performed and observed by, the Credit Parties hereunder will be the joint and several
agreements, obligations and covenants of each of the persons comprising the Credit Parties and any request or authorization given to the Lender by any of the persons comprising the Borrowers will be considered to be the joint and several requests or
authorizations of each of the persons comprising the Credit Parties. 

  

	25.	Remedies are Cumulative. The Lender’s rights and remedies hereunder are cumulative and not exclusive of any rights or remedies at law or in equity.

  

	26.	Time. Time is of the essence of this Agreement and all documents or instruments delivered hereunder. 

  

	27.	 Criminal Code Compliance. In this paragraph the terms “interest”, “criminal rate” and “credit advanced”
have the meanings ascribed to them in Section 347 of the Criminal Code (Canada) as amended from time to time. The Credit Parties and the Lender agree that, 

  

					
		  	- 16 -	  	

	 	 
notwithstanding any agreement to the contrary, no interest on the Facility or the credit advanced by the Lender under this Agreement will be payable in
excess of that permitted under the laws of Canada. If the effective rate of interest, calculated in accordance with generally accepted actuarial practices and principles, would exceed the criminal rate on the credit advanced, then:

  

	 	(a)	the elements of return which fall within the term “interest” will be reduced to the extent necessary to eliminate such excess; 

  

	 	(b)	any remaining excess that has been paid will be credited towards prepayment of the Facility; and 

  

	 	(c)	any overpayment that may remain after such crediting will be returned forthwith to the Borrower upon demand, and, in the event of dispute, a Fellow of the Canadian Institute of
Actuaries appointed by the Lender will perform the relevant calculations and determine the reductions, modifications and credits necessary to effect the foregoing and the same will be conclusive and binding on the parties. This Agreement, the Note
and all related agreements and documents will automatically be modified to reflect such modifications without the necessity of any further act or deed of the Borrower and the Lender to give effect to them. 

  

	28.	Invalidity. If at any time any one or more of the provisions hereof is or becomes invalid, illegal or unenforceable in any respect under any law, the validity, legality and
enforceability of the remaining provisions hereof will not in any way be affected or impaired thereby to the fullest extent possible by law. 

  

	29.	Governing Laws. This Agreement will be governed by and interpreted in accordance with the laws of the State of Nevada and the laws of the United States applicable therein.
The Credit Parties submit to the non-exclusive jurisdiction of the Courts of the State of Nevada and agree to be bound by any suit, action or proceeding commenced in such Courts and by any order or judgment resulting from such suit, action or
proceeding, but the foregoing will in no way limit the right of the Lender to commence suits, actions or proceedings based on this Agreement in any jurisdiction it may deem appropriate. 

  

	30.	Amendment. This Agreement supersedes the Term Sheet and all prior agreements and discussions between the parties with respect to the subject matter set forth herein. This
Agreement may be varied or amended only by or pursuant to an agreement in writing signed by the parties hereto. 

  

	31.	Schedules. All Schedules attached hereto will be deemed fully a part of this Agreement. 

  

	32.	Currency. All references herein to “dollars” or “$” are to Canadian dollars, unless otherwise indicated. 

  

	33.	Counterparts. This Agreement may be signed in one or more counterparts, originally or by facsimile, each such counterpart taken together will form one and the same agreement.

 [Signature page follows] 
  

					
		  	- 17 -	  	

 TO EVIDENCE THEIR AGREEMENT each of the parties has executed this Agreement on the date first above written. 

 

			
	IONIC CAPITAL CORP.
		
	Per:	 	 /s/ A. Peter Miller

		 	Authorized Signatory
	
	HYCROFT RESOURCES & DEVELOPMENT, INC.
		
	Per:	 	 /s/ Hal D. Kirby

		 	Authorized Signatory
	
	ALLIED NEVADA GOLD CORP.
		
	Per:	 	 /s/ Hal D. Kirby

		 	Authorized Signatory
	
	HYCROFT LEWIS MINE, INC.
		
	Per:	 	 /s/ Hal D. Kirby

		 	Authorized Signatory
	
	VICTORY EXPLORATION INC.
		
	Per:	 	 /s/ Hal D. Kirby

		 	Authorized Signatory
	
	VICTORY GOLD INC.
		
	Per:	 	 /s/ Hal D. Kirby

		 	Authorized Signatory

  

					
		  	- 18 -	  	

			
	ALLIED VGH INC.
		
	Per:	 	 /s/ Hal D. Kirby

		 	Authorized Signatory
	
	ALLIED NEVADA GOLD HOLDINGS LLC
		
	Per:	 	 /s/ Hal D. Kirby

		 	Authorized Signatory
	
	ALLIED VNC INC.
		
	Per:	 	 /s/ Hal D. Kirby

		 	Authorized Signatory

  

					
		  	- 19 -	  	

 SCHEDULE “A” 
 HYCROFT MINING PROPERTIES 
 Crofoot Mine Property Owned by Hycroft Resources & Development, Inc., a
Nevada corporation 
  

													
	 Claim Name
	    	Serial Number	    	Location date	    	Cty	    	Book	    	Page	    	Doc
	 Airstrip #1
	    	NMC 88292	    	4/9/1958	    	Hum	    	Not. 10	    	392	    	104027
	 Airstrip #2
	    	NMC 88293	    	4/9/1958	    	Hum	    	Not. 10	    	392	    	104028
	 Airstrip #3
	    	NMC 88294	    	4/9/1958	    	Hum	    	Not. 10	    	393	    	104029
	 Airstrip #4
	    	NMC 88295	    	4/2/1958	    	Hum	    	Not. 10	    	525	    	106314
	 Airstrip #5
	    	NMC 88296	    	4/2/1958	    	Hum	    	Not. 10	    	524	    	106313
	 Airstrip Fraction
	    	NMC 88297	    	7/27/1967	    	Hum	    	25	    	92	    	129116
	 CKC #1
	    	NMC 88348	    	3/3/1973	    	Hum	    	71	    	196	    	158955
	 CKC #2
	    	NMC 88349	    	3/3/1973	    	Hum	    	71	    	197	    	158956
	 CKC #3
	    	NMC 88350	    	4/3/1973	    	Hum	    	71	    	587	    	159332
	 CKC #4
	    	NMC 88351	    	4/3/1973	    	Hum	    	71	    	588	    	159333
	 CKC #5
	    	NMC 88352	    	4/3/1973	    	Hum	    	71	    	589	    	159334
	 CKC #6
	    	NMC 88353	    	4/3/1973	    	Hum	    	71	    	590	    	159335
	 CKC #7
	    	NMC 88354	    	9/6/1973	    	Hum	    	75	    	499	    	161892
	 CKC #8
	    	NMC 88355	    	9/6/1973	    	Per	    	51	    	220	    	87543
	 CKC #9
	    	NMC 88356	    	9/6/1973	    	Per	    	51	    	219	    	87542
	 CKC #12
	    	NMC 444109	    	8/14/1987	    	Per	    	202	    	507	    	159655
		    		    	8/14/1987	    	Hum	    	245	    	14	    	282545
	 CKC #15
	    	NMC 444112	    	8/14/1987	    	Hum	    	245	    	17	    	282548
	 Blackrock #2
	    	NMC 545996	    	3/11/1989	    	Hum	    	271	    	390	    	303484
	 Mayo
	    	NMC 545997	    	3/11/1989	    	Hum	    	271	    	391	    	303485
	 Anita
	    	NMC 545998	    	3/11/1989	    	Hum	    	271	    	392	    	303486
	 Ashlode
	    	NMC 545999	    	3/11/1989	    	Hum	    	271	    	393	    	303487
	 Albert
	    	NMC 546000	    	3/11/1989	    	Hum	    	271	    	394	    	303488
	 CKC #10
	    	NMC 546001	    	3/11/1989	    	Hum	    	271	    	395	    	303490
	 CKC #11
	    	NMC 546002	    	3/11/1989	    	Hum	    	271	    	396	    	303491
	 CKC #13
	    	NMC 546003	    	3/11/1989	    	Hum	    	271	    	397	    	303492
	 CKC #14
	    	NMC 546004	    	3/11/1989	    	Hum	    	271	    	398	    	303493
	 RFG #33
	    	NMC 546005	    	3/10/1989	    	Hum	    	271	    	399	    	303494
	 RFG #35
	    	NMC 546006	    	3/10/1989	    	Hum	    	271	    	400	    	303495
	 RFG #37
	    	NMC 546007	    	3/10/1989	    	Hum	    	271	    	401	    	303496
	 RFG #38
	    	NMC 546008	    	3/10/1989	    	Hum	    	271	    	402	    	303497
	 RFG #39A
	    	NMC 546009	    	3/10/1989	    	Hum	    	271	    	403	    	303498
	 RFG #42
	    	NMC 546010	    	3/10/1989	    	Hum	    	271	    	404	    	303499
	 RFG #43
	    	NMC 546011	    	3/10/1989	    	Hum	    	271	    	405	    	303500
	 RFG #44
	    	NMC 546012	    	3/10/1989	    	Hum	    	271	    	406	    	303501
	 RFG #45
	    	NMC 546013	    	3/10/1989	    	Hum	    	271	    	407	    	303502
	 RFG #46
	    	NMC 546014	    	3/10/1989	    	Hum	    	271	    	408	    	303503
	 RFG #47
	    	NMC 546015	    	3/10/1989	    	Hum	    	271	    	409	    	303504
	 RFG #48
	    	NMC 546016	    	3/10/1989	    	Hum	    	271	    	410	    	303505
	 RFG #49
	    	NMC 546017	    	3/10/1989	    	Hum	    	271	    	411	    	303506
	 RFG #50
	    	NMC 546018	    	3/10/1989	    	Hum	    	271	    	412	    	303507
	 RFG #51
	    	NMC 546019	    	3/10/1989	    	Hum	    	271	    	413	    	303508

  

					
		  	- 20 -	  	

													
	 RFG #52
	    	NMC 546020	    	3/10/1989	    	Hum	    	271	    	414	    	303509
	 RFG #52A
	    	NMC 546021	    	3/10/1989	    	Hum	    	271	    	415	    	303510
	 RFG #53
	    	NMC 546022	    	3/10/1989	    	Hum	    	271	    	416	    	303511
	 RFG #54
	    	NMC 546023	    	3/10/1989	    	Hum	    	271	    	417	    	303512
	 RFG #57
	    	NMC 546024	    	3/10/1989	    	Hum	    	271	    	418	    	303513
	 RFG #58
	    	NMC 546025	    	3/10/1989	    	Hum	    	271	    	419	    	303514
	 RFG #59
	    	NMC 546026	    	3/10/1989	    	Hum	    	271	    	420	    	303515
	 RFG #60
	    	NMC 546027	    	3/10/1989	    	Hum	    	271	    	421	    	303516
	 RFG #61
	    	NMC 546028	    	3/10/1989	    	Hum	    	271	    	422	    	303517
	 RFG #62
	    	NMC 546029	    	3/10/1989	    	Hum	    	271	    	423	    	303518
	 RFG #63
	    	NMC 546030	    	3/10/1989	    	Hum	    	271	    	424	    	303519
	 RFG #64
	    	NMC 546031	    	3/10/1989	    	Hum	    	271	    	425	    	303520
	 RFG #65
	    	NMC 546032	    	3/10/1989	    	Hum	    	271	    	426	    	303521
	 RFG #66
	    	NMC 546033	    	3/10/1989	    	Hum	    	271	    	427	    	303522
	 RFG #67
	    	NMC 546034	    	3/10/1989	    	Hum	    	271	    	428	    	303523
	 RFG #67A
	    	NMC 546035	    	3/10/1989	    	Hum	    	271	    	429	    	303524
	 RFG #68
	    	NMC 546036	    	3/10/1989	    	Hum	    	271	    	430	    	303525
	 RFG #68A
	    	NMC 546037	    	3/10/1989	    	Hum	    	271	    	431	    	303526
	 RFG #71
	    	NMC 546038	    	3/11/1989	    	Hum	    	271	    	432	    	303527
	 RFG #73
	    	NMC 546039	    	3/11/1989	    	Hum	    	271	    	433	    	303528
	 RFG #74
	    	NMC 546040	    	3/11/1989	    	Hum	    	271	    	434	    	303529
	 RFG #75
	    	NMC 546041	    	3/11/1989	    	Hum	    	271	    	435	    	303530
	 RFG #76
	    	NMC 546042	    	3/11/1989	    	Hum	    	271	    	436	    	303531
	 RFG #77
	    	NMC 546043	    	3/11/1989	    	Hum	    	271	    	437	    	303532
	 RFG #78
	    	NMC 546044	    	3/11/1989	    	Hum	    	271	    	438	    	303533
	 RFG #79
	    	NMC 546045	    	3/11/1989	    	Hum	    	271	    	439	    	303534
	 RFG #80
	    	NMC 546046	    	3/11/1989	    	Hum	    	271	    	440	    	303535
	 RFG #81
	    	NMC 546047	    	3/11/1989	    	Hum	    	271	    	441	    	303536
	 RFG #81A
	    	NMC 546048	    	3/11/1989	    	Hum	    	271	    	442	    	303537
	 RFG #82
	    	NMC 546049	    	3/11/1989	    	Hum	    	271	    	443	    	303538
	 RFG #83
	    	NMC 546050	    	3/11/1989	    	Hum	    	271	    	444	    	303539
	 RFG #84
	    	NMC 546051	    	3/11/1989	    	Hum	    	271	    	445	    	303540
	 RFG #85
	    	NMC 546052	    	3/11/1989	    	Hum	    	271	    	446	    	303541
	 RFG #86
	    	NMC 546053	    	3/11/1989	    	Hum	    	271	    	447	    	303542
	 RFG #87
	    	NMC 546054	    	3/11/1989	    	Hum	    	271	    	448	    	303543
	 RFG #88
	    	NMC 546055	    	3/11/1989	    	Hum	    	271	    	449	    	303544
	 RFG #89
	    	NMC 546056	    	3/11/1989	    	Hum	    	271	    	450	    	303545
	 RFG #90
	    	NMC 546057	    	3/11/1989	    	Hum	    	271	    	451	    	303546
	 RFG #91
	    	NMC 546058	    	3/11/1989	    	Hum	    	271	    	452	    	303547
	 RFG #92
	    	NMC 546059	    	3/11/1989	    	Hum	    	271	    	453	    	303548
	 RFG #93
	    	NMC 546060	    	3/11/1989	    	Hum	    	271	    	454	    	303549
	 RFG #94
	    	NMC 546061	    	3/11/1989	    	Hum	    	271	    	455	    	303550
	 RFG #95
	    	NMC 546062	    	3/11/1989	    	Hum	    	271	    	456	    	303551
	 RFG #97
	    	NMC 546063	    	3/11/1989	    	Hum	    	271	    	457	    	303552
	 RFG #99
	    	NMC 546064	    	3/11/1989	    	Per	    	227	    	98	    	172764
		    		    	3/11/1989	    	Hum	    	271	    	458	    	303553
	 RFG #101
	    	NMC 546065	    	3/11/1989	    	Per	    	227	    	99	    	172765
		    		    	3/11/1989	    	Hum	    	271	    	459	    	303554
	 RFG #103
	    	NMC 546066	    	3/11/1989	    	Per	    	227	    	100	    	172766
		    		    	3/11/1989	    	Hum	    	271	    	460	    	303555

  

					
		  	- 21 -	  	

													
	 RFG #288
	    	NMC 546067	    	3/11/1989	    	Hum	    	271	    	461	    	303556
	 RFG #290
	    	NMC 546068	    	3/11/1989	    	Hum	    	271	    	462	    	303557
	 RFG #292
	    	NMC 546069	    	3/11/1989	    	Hum	    	271	    	463	    	303558
	 RFG #294
	    	NMC 546070	    	3/11/1989	    	Hum	    	271	    	464	    	303559
	 RFG #296
	    	NMC 546071	    	3/11/1989	    	Hum	    	271	    	465	    	303560
	 RFG #298
	    	NMC 546072	    	3/11/1989	    	Hum	    	271	    	466	    	303561
	 RFG #300
	    	NMC 546073	    	3/11/1989	    	Hum	    	271	    	467	    	303562
	 RFG #302
	    	NMC 546074	    	3/11/1989	    	Hum	    	271	    	468	    	303563
	 RFG #304
	    	NMC 546075	    	3/11/1989	    	Hum	    	271	    	469	    	303564
	 RFG #322
	    	NMC 546076	    	3/11/1989	    	Hum	    	271	    	470	    	303565
	 RFG #323
	    	NMC 546077	    	3/11/1989	    	Hum	    	271	    	471	    	303566
	 RFG #324
	    	NMC 546078	    	3/11/1989	    	Hum	    	271	    	472	    	303567
	 RFG #325
	    	NMC 546079	    	3/11/1989	    	Hum	    	271	    	473	    	303568
	 RFG #326
	    	NMC 546080	    	3/11/1989	    	Hum	    	271	    	474	    	303569
	 RFG #327
	    	NMC 546081	    	3/11/1989	    	Hum	    	271	    	475	    	303570
	 RFG #329
	    	NMC 546082	    	3/11/1989	    	Hum	    	271	    	476	    	303571
	 RFG #331
	    	NMC 546083	    	3/11/1989	    	Hum	    	271	    	477	    	303572
	 RFG #333
	    	NMC 546084	    	3/11/1989	    	Hum	    	271	    	478	    	303573
	 RFG #335
	    	NMC 546085	    	3/11/1989	    	Hum	    	271	    	479	    	303574
	 RFG #337
	    	NMC 546086	    	3/11/1989	    	Hum	    	271	    	480	    	303575
	 RFG #339
	    	NMC 546087	    	3/11/1989	    	Hum	    	271	    	481	    	303576
	 RFG #341
	    	NMC 546088	    	3/11/1989	    	Hum	    	271	    	482	    	303577
	 RFG #343
	    	NMC 546089	    	3/11/1989	    	Hum	    	271	    	483	    	303578
	 WRC 1
	    	NMC 714252	    	3/13/1995	    	Per	    	287	    	552	    	199422
	 WRC 2
	    	NMC 714253	    	3/13/1995	    	Per	    	287	    	553	    	199423
	 WRC 3
	    	NMC 714254	    	3/13/1995	    	Per	    	287	    	554	    	199424
	 WRC 4
	    	NMC 714255	    	3/13/1995	    	Per	    	287	    	555	    	199425
	 WRC 5
	    	NMC 714256	    	3/13/1995	    	Per	    	287	    	556	    	199426
	 WRC 6
	    	NMC 714257	    	3/13/1995	    	Per	    	287	    	557	    	199427
	 WRC 7
	    	NMC 714258	    	3/13/1995	    	Per	    	287	    	558	    	199428
	 WRC 8
	    	NMC 714259	    	3/13/1995	    	Per	    	287	    	559	    	199429
	 WRC 9
	    	NMC 714260	    	3/13/1995	    	Per	    	287	    	560	    	199430
	 WRC 10
	    	NMC 714261	    	3/13/1995	    	Per	    	287	    	561	    	199431
	 WRC 11
	    	NMC 714262	    	3/13/1995	    	Per	    	287	    	562	    	199432
	 WRC 12
	    	NMC 714263	    	3/13/1995	    	Per	    	287	    	563	    	199433
	 WRC 13
	    	NMC 714264	    	3/13/1995	    	Per	    	287	    	564	    	199434
	 WRC 14
	    	NMC 714265	    	3/13/1995	    	Per	    	287	    	565	    	199435
	 WRC 15
	    	NMC 714266	    	3/13/1995	    	Per	    	287	    	566	    	199436
	 WRC 16
	    	NMC 714267	    	3/13/1995	    	Per	    	287	    	567	    	199437
	 WRC 17
	    	NMC 714268	    	3/13/1995	    	Per	    	287	    	568	    	199438
	 WRC 18
	    	NMC 714269	    	3/13/1995	    	Per	    	287	    	569	    	199439
	 WRC 19
	    	NMC 714270	    	3/13/1995	    	Per	    	287	    	570	    	199440
	 WRC 20
	    	NMC 714271	    	3/13/1995	    	Per	    	287	    	571	    	199441
	 WRC 21
	    	NMC 714272	    	3/13/1995	    	Per	    	287	    	572	    	199442
	 WRC 22
	    	NMC 714273	    	3/13/1995	    	Per	    	287	    	573	    	199443
	 WRC 23
	    	NMC 714274	    	3/13/1995	    	Per	    	287	    	574	    	199444
	 WRC 24
	    	NMC 714275	    	3/13/1995	    	Per	    	287	    	575	    	199445
	 WRC 25
	    	NMC 714276	    	3/13/1995	    	Per	    	287	    	576	    	199446
	 WRC 26
	    	NMC 714277	    	3/13/1995	    	Per	    	287	    	577	    	199447
	 WRC 27
	    	NMC 714278	    	3/13/1995	    	Per	    	287	    	578	    	199448

  

					
		  	- 22 -	  	

													
	 WRC 28
	    	NMC 714279	    	3/13/1995	    	Per	    	287	    	579	    	199449
	 WRC 29
	    	NMC 714280	    	3/13/1995	    	Per	    	287	    	580	    	199450
	 WRC 30
	    	NMC 714281	    	3/13/1995	    	Per	    	287	    	581	    	199451
	 WRC 31
	    	NMC 714282	    	3/13/1995	    	Per	    	287	    	582	    	199452
	 WRC 32
	    	NMC 714283	    	3/14/1995	    	Per	    	287	    	583	    	199453
	 WRC 33
	    	NMC 714284	    	3/14/1995	    	Per	    	287	    	584	    	199454
	 WRC 34
	    	NMC 714285	    	3/14/1995	    	Per	    	287	    	585	    	199455
	 WRC 35
	    	NMC 714286	    	3/14/1995	    	Per	    	287	    	586	    	199456
	 WRC 36
	    	NMC 714287	    	3/14/1995	    	Per	    	287	    	587	    	199457
	 WRC 37
	    	NMC 714288	    	3/14/1995	    	Per	    	287	    	588	    	199458
	 WRC 38
	    	NMC 714289	    	3/14/1995	    	Per	    	287	    	589	    	199459
	 WRC 39
	    	NMC 714290	    	3/14/1995	    	Per	    	287	    	590	    	199460
	 WRC 40
	    	NMC 714291	    	3/14/1995	    	Per	    	287	    	591	    	199461
	 WRC 41
	    	NMC 714292	    	3/14/1995	    	Per	    	287	    	592	    	199462
	 WRC 42
	    	NMC 714293	    	3/14/1995	    	Per	    	287	    	593	    	199463
	 WRC 43
	    	NMC 714294	    	3/14/1995	    	Per	    	287	    	594	    	199464
	 WRC 44
	    	NMC 714295	    	3/14/1995	    	Per	    	287	    	595	    	199465
	 WRC 45
	    	NMC 714296	    	3/14/1995	    	Per	    	287	    	596	    	199466
	 WRC 46
	    	NMC 714297	    	3/14/1995	    	Per	    	287	    	597	    	199467
	 WRC 47
	    	NMC 714298	    	3/14/1995	    	Per	    	287	    	598	    	199468
	 WRC 48
	    	NMC 714299	    	3/14/1995	    	Per	    	287	    	599	    	199469
	 WRC 49
	    	NMC 714300	    	3/14/1995	    	Per	    	287	    	600	    	199470
	 WRC 50
	    	NMC 714301	    	3/14/1995	    	Per	    	287	    	601	    	199471
	 WRC 51
	    	NMC 714302	    	3/14/1995	    	Per	    	287	    	602	    	199472
	 WRC 52
	    	NMC 714303	    	3/14/1995	    	Per	    	287	    	603	    	199473
	 WRC 53
	    	NMC 714304	    	3/14/1995	    	Per	    	287	    	604	    	199474
	 WRC 54
	    	NMC 714305	    	3/14/1995	    	Per	    	287	    	605	    	199475
	 WRC 55
	    	NMC 714306	    	3/14/1995	    	Per	    	287	    	606	    	199476
	 WRC 56
	    	NMC 714307	    	3/14/1995	    	Per	    	287	    	607	    	199477
	 WRC 57
	    	NMC 714308	    	3/14/1995	    	Per	    	287	    	608	    	199478
	 WRC 58
	    	NMC 714309	    	3/14/1995	    	Per	    	287	    	609	    	199479
	 WRC 60
	    	NMC 714311	    	3/14/1995	    	Per	    	287	    	611	    	199481
	 WRC 82
	    	NMC 714313	    	3/14/1995	    	Per	    	287	    	613	    	199483
	 WRC 84
	    	NMC 714315	    	3/14/1995	    	Per	    	287	    	615	    	199485
	 WRC 87
	    	NMC 714317	    	3/14/1995	    	Per	    	287	    	617	    	199487
	 WRC 88
	    	NMC 714318	    	3/14/1995	    	Per	    	287	    	618	    	199488
	 WRC 89
	    	NMC 714319	    	3/14/1995	    	Per	    	287	    	619	    	199489
	 WRC 90
	    	NMC 714320	    	3/14/1995	    	Per	    	287	    	620	    	199490
	 WRC 91
	    	NMC 714321	    	3/14/1995	    	Per	    	287	    	621	    	199491
	 RFG 94A
	    	NMC 932885	    	5/20/2006	    	Hum	    		    		    	20065411
	 RFG 102
	    	NMC 932886	    	5/20/2006	    	Hum	    		    		    	20065412
	 RFG 104
	    	NMC 932887	    	5/20/2006	    	Per	    	411	    	645	    	350000
		    		    	5/20/2006	    	Hum	    		    		    	20065413
	 RFG 105
	    	NMC 932888	    	5/20/2006	    	Per	    	411	    	646	    	350001
		    		    	5/20/2006	    	Hum	    		    		    	20065414
	 RFG 106
	    	NMC 932889	    	5/20/2006	    	Per	    	411	    	647	    	350002
		    		    	5/20/2006	    	Hum	    		    		    	20065415
	 RFG 107
	    	NMC 932890	    	5/20/2006	    	Per	    	411	    	648	    	350003
	 RFG 108
	    	NMC 932891	    	5/20/2006	    	Per	    	411	    	649	    	350004
		    		    	5/20/2006	    	Hum	    		    		    	20065416

  

					
		  	- 23 -	  	

													
	 RFG 109
	    	NMC 932892	    	5/20/2006	    	Per	    	411	    	650	    	350005
	 RFG 110
	    	NMC 932893	    	5/20/2006	    	Per	    	411	    	651	    	350006
		    		    	5/20/2006	    	Hum	    		    		    	20065417
	 RFG 111
	    	NMC 932894	    	5/20/2006	    	Per	    	411	    	652	    	350007
	 RFG 112
	    	NMC 932895	    	5/20/2006	    	Per	    	411	    	653	    	350008
		    		    	5/20/2006	    	Hum	    		    		    	20065418
	 RFG 113
	    	NMC 932896	    	5/20/2006	    	Per	    	411	    	654	    	350009
	 RFG 114
	    	NMC 932897	    	5/20/2006	    	Per	    	411	    	655	    	350010
	 RFG 115
	    	NMC 932898	    	5/20/2006	    	Per	    	411	    	656	    	350011
	 RFG 116
	    	NMC 932899	    	5/20/2006	    	Per	    	411	    	657	    	350012
	 RFG 117
	    	NMC 932900	    	5/20/2006	    	Per	    	411	    	658	    	350013
	 RFG 118
	    	NMC 932901	    	5/20/2006	    	Per	    	411	    	659	    	350014
	 RFG 119
	    	NMC 932902	    	5/20/2006	    	Per	    	411	    	660	    	350015
	 RFG 126
	    	NMC 932903	    	5/20/2006	    	Hum	    		    		    	20065419
	 RFG 128
	    	NMC 932904	    	5/20/2006	    	Hum	    		    		    	20065420
	 RFG 136
	    	NMC 932905	    	5/20/2006	    	Per	    	411	    	661	    	350016
		    		    	5/20/2006	    	Hum	    		    		    	20065421
	 RFG 138
	    	NMC 932906	    	5/20/2006	    	Per	    	411	    	662	    	350017
		    		    	5/20/2006	    	Hum	    		    		    	20065422
	 RFG 140
	    	NMC 932907	    	5/20/2006	    	Per	    	411	    	663	    	350018
		    		    	5/20/2006	    	Hum	    		    		    	20065423
	 RFG 142
	    	NMC 932908	    	5/20/2006	    	Per	    	411	    	664	    	350019
	 RFG 144
	    	NMC 932909	    	5/20/2006	    	Per	    	411	    	665	    	350020
	 RFG 146
	    	NMC 932910	    	5/20/2006	    	Per	    	411	    	666	    	350021
	 RFG 256
	    	NMC 932911	    	5/20/2006	    	Per	    	411	    	667	    	350022
		    		    	5/20/2006	    	Hum	    		    		    	20065424
	 RFG 258
	    	NMC 932912	    	5/20/2006	    	Hum	    		    		    	20065425
	 RFG 260
	    	NMC 932913	    	5/20/2006	    	Hum	    		    		    	20065426
	 RFG 286
	    	NMC 932914	    	5/20/2006	    	Hum	    		    		    	20065427
	 RFG 287
	    	NMC 932915	    	5/20/2006	    	Hum	    		    		    	20065428
	 RFG 289
	    	NMC 932916	    	5/20/2006	    	Hum	    		    		    	20065429
	 RFG 291
	    	NMC 932917	    	5/20/2006	    	Hum	    		    		    	20065430
	 RFG 293
	    	NMC 932918	    	5/20/2006	    	Hum	    		    		    	20065431
	 RFG 295
	    	NMC 932919	    	5/20/2006	    	Hum	    		    		    	20065432
	 RFG 297
	    	NMC 932920	    	5/20/2006	    	Hum	    		    		    	20065433
	 RFG 299
	    	NMC 932921	    	5/20/2006	    	Hum	    		    		    	20065434
	 RFG 301
	    	NMC 932922	    	5/20/2006	    	Hum	    		    		    	20065435
	 RFG 303
	    	NMC 932923	    	5/20/2006	    	Hum	    		    		    	20065436

  

					
		  	- 24 -	  	

 Lewis Mine owned by Victory Exploration Inc., formerly known as F. W. Lewis, Inc., a Nevada corporation

  

													
	 Triple L #1
	    	NMC 127534	    	10/13/1979	    	Hum	    	131	    	145	    	200371
	 Triple L #2
	    	NMC 127535	    	10/13/1979	    	Hum	    	131	    	146	    	200372
	 Triple L #3
	    	NMC 127536	    	10/13/1979	    	Hum	    	131	    	147	    	200373
	 Triple L #4
	    	NMC 127537	    	10/13/1979	    	Hum	    	131	    	148	    	200374
	 Triple L #5
	    	NMC 127538	    	10/13/1979	    	Hum	    	131	    	149	    	200375
	 RFG #120
	    	NMC 141680	    	1/24/1980	    	Per	    	106	    	425	    	110604
	 RFG #121
	    	NMC 141681	    	1/24/1980	    	Per	    	106	    	426	    	110605
	 RFG #122
	    	NMC 141682	    	1/24/1980	    	Per	    	106	    	427	    	110606
	 RFG #123
	    	NMC 141683	    	1/24/1980	    	Per	    	106	    	428	    	110607
	 RFG #124
	    	NMC 141684	    	1/24/1980	    	Per	    	106	    	429	    	110608
	 RFG #125
	    	NMC 141685	    	1/24/1980	    	Per	    	106	    	430	    	110609
	 RFG #127
	    	NMC 141686	    	1/9/1980	    	Per	    	106	    	431	    	110610
		    		    	1/9/1980	    	Hum	    	133	    	714	    	202276
	 RFG #129
	    	NMC 141687	    	1/9/1980	    	Per	    	106	    	432	    	110611
		    		    	1/9/1980	    	Hum	    	133	    	715	    	202277
	 RFG #131
	    	NMC 141688	    	1/9/1980	    	Per	    	106	    	433	    	110612
		    		    	1/9/1980	    	Hum	    	133	    	716	    	202278
	 RFG #132
	    	NMC 141689	    	1/9/1980	    	Per	    	106	    	434	    	110613
		    		    	1/9/1980	    	Hum	    	133	    	717	    	202279
	 RFG #133
	    	NMC 141690	    	1/9/1980	    	Per	    	106	    	435	    	110614
		    		    	1/9/1980	    	Hum	    	133	    	718	    	202280
	 RFG #134
	    	NMC 141691	    	1/9/1980	    	Per	    	106	    	436	    	110615
		    		    	1/9/1980	    	Hum	    	133	    	719	    	202281
	 RFG #135
	    	NMC 141692	    	1/9/1980	    	Per	    	106	    	437	    	110616
	 RFG #137
	    	NMC 141694	    	1/9/1980	    	Per	    	106	    	439	    	110618
	 RFG #139
	    	NMC 141696	    	1/9/1980	    	Per	    	106	    	441	    	110620
	 RFG #141
	    	NMC 141698	    	1/9/1980	    	Per	    	106	    	443	    	110622
	 RFG #143
	    	NMC 141700	    	1/22/1980	    	Per	    	106	    	445	    	110624
	 RFG #145
	    	NMC 141702	    	1/22/1980	    	Per	    	106	    	447	    	110626
	 RFG #147
	    	NMC 141704	    	1/22/1980	    	Per	    	106	    	449	    	110628
	 RFG #148
	    	NMC 141705	    	1/22/1980	    	Per	    	106	    	450	    	110629
	 RFG #149
	    	NMC 141706	    	1/22/1980	    	Per	    	106	    	451	    	110630
	 RFG #150
	    	NMC 141707	    	1/22/1980	    	Per	    	106	    	452	    	110631
	 RFG #151
	    	NMC 141708	    	1/22/1980	    	Per	    	106	    	453	    	110632
	 RFG #152
	    	NMC 141709	    	1/22/1980	    	Per	    	106	    	454	    	110633
	 RFG #153
	    	NMC 141710	    	1/22/1980	    	Per	    	106	    	455	    	110634
	 RFG #154
	    	NMC 141711	    	1/22/1980	    	Per	    	106	    	456	    	110635
	 RFG #155
	    	NMC 141712	    	1/22/1980	    	Per	    	106	    	457	    	110636
	 RFG #156
	    	NMC 141713	    	1/22/1980	    	Per	    	106	    	458	    	110637
	 RFG #157
	    	NMC 141714	    	1/22/1980	    	Per	    	106	    	459	    	110638
	 RFG #158
	    	NMC 141715	    	1/22/1980	    	Per	    	106	    	460	    	110639
	 RFG #159
	    	NMC 141716	    	1/22/1980	    	Per	    	106	    	461	    	110640
	 RFG #160
	    	NMC 141717	    	1/22/1980	    	Per	    	106	    	462	    	110641
	 RFG #161
	    	NMC 141718	    	1/22/1980	    	Per	    	106	    	463	    	110642
	 RFG #162
	    	NMC 141719	    	1/23/1980	    	Per	    	106	    	464	    	110643
	 RFG #163
	    	NMC 141720	    	1/23/1980	    	Per	    	106	    	465	    	110644

  

					
		  	- 25 -	  	

													
	 RFG #164
	    	NMC 141721	    	1/23/1980	    	Per	    	106	    	466	    	110645
	 RFG #165
	    	NMC 141722	    	1/23/1980	    	Per	    	106	    	467	    	110646
	 RFG #166
	    	NMC 141723	    	1/23/1980	    	Per	    	106	    	468	    	110647
	 RFG #167
	    	NMC 141724	    	1/23/1980	    	Per	    	106	    	469	    	110648
	 RFG #200A
	    	NMC 141725	    	12/28/1979	    	Per	    	106	    	470	    	110649
		    		    	12/28/1979	    	Hum	    	133	    	723	    	202285
	 RFG #201A
	    	NMC 141726	    	12/28/1979	    	Per	    	106	    	471	    	110650
	 RFG #202A
	    	NMC 141727	    	12/28/1979	    	Per	    	106	    	472	    	110651
	 RFG #203A
	    	NMC 141728	    	12/28/1979	    	Per	    	106	    	473	    	110652
	 RFG #204A
	    	NMC 141729	    	12/28/1979	    	Per	    	106	    	474	    	110653
	 RFG #205A
	    	NMC 141730	    	12/28/1979	    	Per	    	106	    	475	    	110654
	 RFG #206A
	    	NMC 141731	    	12/28/1979	    	Per	    	106	    	476	    	110655
	 RFG #207A
	    	NMC 141732	    	12/28/1979	    	Per	    	106	    	477	    	110656
	 RFG #208A
	    	NMC 141733	    	12/28/1979	    	Per	    	106	    	478	    	110657
	 RFG #209A
	    	NMC 141734	    	12/28/1979	    	Per	    	106	    	479	    	110658
	 RFG #210A
	    	NMC 141735	    	12/28/1979	    	Per	    	106	    	480	    	110659
	 RFG #211A
	    	NMC 141736	    	12/28/1979	    	Per	    	106	    	481	    	110660
	 RFG #212A
	    	NMC 141737	    	12/28/1979	    	Per	    	106	    	482	    	110661
	 RFG #213A
	    	NMC 141738	    	12/28/1979	    	Per	    	106	    	483	    	110662
	 RFG #214A
	    	NMC 141739	    	12/28/1979	    	Per	    	106	    	484	    	110663
	 RFG #215A
	    	NMC 141740	    	12/28/1979	    	Per	    	106	    	485	    	110664
	 RFG #216A
	    	NMC 141741	    	12/28/1979	    	Per	    	106	    	486	    	110665
	 RFG #217A
	    	NMC 141742	    	12/28/1979	    	Per	    	106	    	487	    	110666
	 RFG #218A
	    	NMC 141743	    	12/28/1979	    	Per	    	106	    	488	    	110667
	 RFG #219A
	    	NMC 141744	    	12/28/1979	    	Per	    	106	    	489	    	110668
	 RFG #220A
	    	NMC 141745	    	12/28/1979	    	Per	    	106	    	490	    	110669
	 RFG #221A
	    	NMC 141746	    	12/28/1979	    	Per	    	106	    	491	    	110670
	 RFG #222A
	    	NMC 141747	    	12/28/1979	    	Per	    	106	    	492	    	110671
	 RFG #223A
	    	NMC 141748	    	12/28/1979	    	Per	    	106	    	493	    	110672
	 RFG #224A
	    	NMC 141749	    	1/7/1980	    	Per	    	106	    	494	    	110673
	 RFG #225A
	    	NMC 141750	    	1/7/1980	    	Per	    	106	    	495	    	110674
	 RFG #226A
	    	NMC 141751	    	1/7/1980	    	Per	    	106	    	496	    	110675
	 RFG #227A
	    	NMC 141752	    	1/7/1980	    	Per	    	106	    	497	    	110676
	 RFG #228
	    	NMC 141753	    	1/25/1980	    	Per	    	106	    	498	    	110677
		    		    	1/25/1980	    	Hum	    	133	    	708	    	202269
	 RFG #228A
	    	NMC 141754	    	1/7/1980	    	Per	    	106	    	499	    	110678
	 RFG #229
	    	NMC 141755	    	1/25/1980	    	Per	    	106	    	500	    	110679
	 RFG #229A
	    	NMC 141756	    	1/7/1980	    	Per	    	106	    	501	    	110680
	 RFG #230
	    	NMC 141757	    	1/25/1980	    	Per	    	106	    	502	    	110681
		    		    	1/25/1980	    	Hum	    	133	    	709	    	202270
	 RFG #230A
	    	NMC 141758	    	1/7/1980	    	Per	    	106	    	503	    	110682
	 RFG #231
	    	NMC 141759	    	1/25/1980	    	Per	    	106	    	504	    	110683
	 RFG #231A
	    	NMC 141760	    	1/7/1980	    	Per	    	106	    	505	    	110684
	 RFG #232A
	    	NMC 141761	    	1/7/1980	    	Per	    	106	    	506	    	110685
	 RFG #233
	    	NMC 141762	    	1/26/1980	    	Per	    	106	    	507	    	110686
	 RFG #233A
	    	NMC 141763	    	1/7/1980	    	Per	    	106	    	508	    	110687
	 RFG #234
	    	NMC 141764	    	1/26/1980	    	Per	    	106	    	509	    	110688
		    		    	1/26/1980	    	Hum	    	133	    	710	    	202271
	 RFG #234A
	    	NMC 141765	    	1/7/1980	    	Per	    	106	    	510	    	110689
	 RFG #235
	    	NMC 141766	    	1/26/1980	    	Per	    	106	    	511	    	110690

  

					
		  	- 26 -	  	

													
		    		    	1/26/1980	    	Hum	    	133	    	711	    	202272
	 RFG #235A
	    	NMC 141767	    	1/7/1980	    	Per	    	106	    	512	    	110691
	 RFG #236
	    	NMC 141768	    	1/26/1980	    	Per	    	106	    	513	    	110692
		    		    	1/26/1980	    	Hum	    	133	    	712	    	202273
	 RFG #236A
	    	NMC 141769	    	1/8/1980	    	Per	    	106	    	514	    	110693
	 RFG #237
	    	NMC 141770	    	1/30/1980	    	Per	    	106	    	515	    	110694
		    		    	1/30/1980	    	Hum	    	133	    	713	    	202274
	 RFG #237A
	    	NMC 141771	    	1/8/1980	    	Per	    	106	    	516	    	110695
	 RFG #238A
	    	NMC 141772	    	1/8/1980	    	Per	    	106	    	517	    	110696
	 RFG #239A
	    	NMC 141773	    	1/8/1980	    	Per	    	106	    	518	    	110697
	 RFG #240A
	    	NMC 141774	    	1/8/1980	    	Per	    	106	    	519	    	110698
	 RFG #241A
	    	NMC 141775	    	1/8/1980	    	Per	    	106	    	520	    	110699
	 RFG #250
	    	NMC 141776	    	1/11/1980	    	Per	    	106	    	521	    	110700
		    		    	1/11/1980	    	Hum	    	133	    	724	    	202286
	 RFG #251
	    	NMC 141777	    	1/11/1980	    	Per	    	106	    	522	    	110701
	 RFG #252
	    	NMC 141778	    	1/11/1980	    	Per	    	106	    	523	    	110702
		    		    	1/11/1980	    	Hum	    	133	    	725	    	202287
	 RFG #253
	    	NMC 141779	    	1/11/1980	    	Per	    	106	    	524	    	110703
	 RFG #254
	    	NMC 141780	    	1/11/1980	    	Per	    	106	    	525	    	110704
		    		    	1/11/1980	    	Hum	    	133	    	726	    	202288
	 RFG #255
	    	NMC 141781	    	1/11/1980	    	Per	    	106	    	526	    	110705
	 RFG #257
	    	NMC 141783	    	1/11/1980	    	Per	    	106	    	528	    	110707
		    		    	1/11/1980	    	Hum	    	133	    	728	    	202290
	 RFG #259
	    	NMC 141784	    	1/11/1980	    	Per	    	106	    	529	    	110708
		    		    	1/11/1980	    	Hum	    	133	    	729	    	202291
	 RFG #261
	    	NMC 141785	    	1/11/1980	    	Per	    	106	    	530	    	110709
		    		    	1/11/1980	    	Hum	    	133	    	730	    	202292
	 RFG #263
	    	NMC 141786	    	1/11/1980	    	Per	    	106	    	531	    	110710
		    		    	1/11/1980	    	Hum	    	133	    	731	    	202293
	 RFG #1
	    	NMC 143252	    	12/20/1979	    	Hum	    	134	    	272	    	202607
	 RFG #2
	    	NMC 143253	    	12/20/1979	    	Hum	    	134	    	273	    	202608
	 RFG #3
	    	NMC 143254	    	12/20/1979	    	Hum	    	134	    	274	    	202609
	 RFG #4
	    	NMC 143255	    	12/20/1979	    	Hum	    	134	    	275	    	202610
	 RFG #5
	    	NMC 143256	    	12/20/1979	    	Hum	    	134	    	276	    	202611
	 RFG #6
	    	NMC 143257	    	12/20/1979	    	Hum	    	134	    	277	    	202612
	 RFG #7
	    	NMC 143258	    	12/20/1979	    	Hum	    	134	    	278	    	202613
	 RFG #8
	    	NMC 143259	    	12/20/1979	    	Hum	    	134	    	279	    	202614
	 RFG #9
	    	NMC 143260	    	12/20/1979	    	Hum	    	134	    	280	    	202615
	 RFG #10
	    	NMC 143261	    	12/20/1979	    	Hum	    	134	    	281	    	202616
	 RFG #11
	    	NMC 143262	    	1/3/1980	    	Hum	    	134	    	282	    	202617
	 RFG #12
	    	NMC 143263	    	1/3/1980	    	Hum	    	134	    	283	    	202618
	 RFG #13
	    	NMC 143264	    	12/27/1979	    	Hum	    	134	    	285	    	202620
	 RFG #14
	    	NMC 143265	    	1/3/1980	    	Hum	    	134	    	287	    	202622
	 RFG #15
	    	NMC 143266	    	1/3/1980	    	Hum	    	134	    	288	    	202623
	 RFG #16
	    	NMC 143267	    	1/3/1980	    	Hum	    	134	    	289	    	202624
	 RFG #17
	    	NMC 143268	    	1/3/1980	    	Hum	    	134	    	290	    	202625
	 RFG #18
	    	NMC 143269	    	1/3/1980	    	Hum	    	134	    	291	    	202626
	 RFG #19
	    	NMC 143270	    	1/3/1980	    	Hum	    	134	    	292	    	202627
	 RFG #20
	    	NMC 143271	    	1/3/1980	    	Hum	    	134	    	293	    	202628
	 RFG #21
	    	NMC 143272	    	1/3/1980	    	Hum	    	134	    	294	    	202629

  

					
		  	- 27 -	  	

													
	 RFG #22
	    	NMC 143273	    	1/3/1980	    	Hum	    	134	    	295	    	202630
	 RFG #23
	    	NMC 143274	    	1/3/1980	    	Hum	    	134	    	297	    	202632
	 RFG #24
	    	NMC 143275	    	12/22/1979	    	Hum	    	134	    	298	    	202633
	 RFG #25
	    	NMC 143276	    	12/22/1979	    	Hum	    	134	    	299	    	202634
	 RFG #26
	    	NMC 143277	    	1/5/1980	    	Hum	    	134	    	300	    	202635
	 RFG #27
	    	NMC 143278	    	1/5/1980	    	Hum	    	134	    	301	    	202636
	 RFG #28
	    	NMC 143279	    	1/5/1980	    	Hum	    	134	    	302	    	202637
	 RFG #29
	    	NMC 143280	    	1/5/1980	    	Hum	    	134	    	303	    	202638
	 RFG #30
	    	NMC 143281	    	12/22/1979	    	Hum	    	134	    	324	    	202660
	 RFG #31
	    	NMC 143282	    	12/22/1979	    	Hum	    	134	    	325	    	202661
	 RFG #32
	    	NMC 143283	    	12/22/1979	    	Hum	    	134	    	326	    	202662
	 RFG #34
	    	NMC 143285	    	12/22/1979	    	Hum	    	134	    	328	    	202664
	 RFG #36
	    	NMC 143287	    	12/22/1979	    	Hum	    	134	    	330	    	202666
	 RFG #40
	    	NMC 143291	    	1/7/1980	    	Hum	    	134	    	337	    	202673
	 RFG #41
	    	NMC 143292	    	1/7/1980	    	Hum	    	134	    	338	    	202674
	 RFG #55
	    	NMC 143306	    	1/9/1980	    	Hum	    	134	    	353	    	202689
	 RFG #56
	    	NMC 143307	    	1/9/1980	    	Hum	    	134	    	354	    	202690
	 RFG #69
	    	NMC 143320	    	1/10/1980	    	Hum	    	134	    	370	    	202708
	 RFG #70
	    	NMC 143321	    	1/10/1980	    	Hum	    	134	    	371	    	202709
	 RFG #168
	    	NMC 143347	    	2/1/1980	    	Hum	    	134	    	429	    	202770
	 RFG #169
	    	NMC 143348	    	2/1/1980	    	Hum	    	134	    	430	    	202771
	 RFG #170
	    	NMC 143349	    	2/1/1980	    	Hum	    	134	    	431	    	202772
	 RFG #171
	    	NMC 143350	    	2/1/1980	    	Hum	    	134	    	432	    	202773
	 RFG #172
	    	NMC 143351	    	1/31/1980	    	Hum	    	134	    	433	    	202774
	 RFG #173
	    	NMC 143352	    	1/31/1980	    	Hum	    	134	    	434	    	202775
	 RFG #174
	    	NMC 143353	    	1/31/1980	    	Hum	    	134	    	435	    	202776
	 RFG #175
	    	NMC 143354	    	1/31/1980	    	Hum	    	134	    	436	    	202777
	 RFG #176
	    	NMC 143355	    	1/31/1980	    	Hum	    	134	    	437	    	202778
	 RFG #177
	    	NMC 143356	    	1/31/1980	    	Hum	    	134	    	438	    	202779
	 RFG #178
	    	NMC 143357	    	2/1/1980	    	Hum	    	134	    	439	    	202780
	 RFG #179
	    	NMC 143358	    	2/1/1980	    	Hum	    	134	    	440	    	202781
	 RFG #180
	    	NMC 143359	    	2/1/1980	    	Hum	    	134	    	441	    	202782
	 RFG #181
	    	NMC 143360	    	2/1/1980	    	Hum	    	134	    	442	    	202783
	 RFG #182
	    	NMC 143361	    	2/1/1980	    	Hum	    	134	    	443	    	202784
	 RFG #183
	    	NMC 143362	    	2/1/1980	    	Hum	    	134	    	444	    	202785
	 RFG #184
	    	NMC 143363	    	2/1/1980	    	Hum	    	134	    	445	    	202786
	 RFG #185
	    	NMC 143364	    	2/1/1980	    	Hum	    	134	    	446	    	202787
	 RFG #186
	    	NMC 143365	    	1/31/1980	    	Hum	    	134	    	447	    	202788
	 RFG #187
	    	NMC 143366	    	2/1/1980	    	Hum	    	134	    	448	    	202789
	 RFG #188
	    	NMC 143367	    	1/31/1980	    	Hum	    	134	    	449	    	202790
	 RFG #189
	    	NMC 143368	    	2/1/1980	    	Hum	    	134	    	450	    	202791
	 RFG #190
	    	NMC 143369	    	1/31/1980	    	Hum	    	134	    	451	    	202792
	 RFG #191
	    	NMC 143370	    	2/1/1980	    	Hum	    	134	    	452	    	202793
	 RFG #192
	    	NMC 143371	    	1/31/1980	    	Hum	    	134	    	453	    	202794
	 RFG #193
	    	NMC 143372	    	2/1/1980	    	Hum	    	134	    	454	    	202795
	 RFG #194
	    	NMC 143373	    	1/31/1980	    	Hum	    	134	    	455	    	202796
	 RFG #195
	    	NMC 143374	    	2/1/1980	    	Hum	    	134	    	456	    	202797
	 RFG #196
	    	NMC 143375	    	1/31/1980	    	Hum	    	134	    	457	    	202798
	 RFG #197
	    	NMC 143376	    	2/1/1980	    	Hum	    	134	    	458	    	202799
	 RFG #198
	    	NMC 143377	    	1/31/1980	    	Hum	    	134	    	459	    	202800

  

					
		  	- 28 -	  	

													
	 RFG #199
	    	NMC 143378	    	2/1/1980	    	Hum	    	134	    	460	    	202801
	 RFG #200
	    	NMC 143379	    	1/31/1980	    	Hum	    	134	    	307	    	202642
	 RFG #201
	    	NMC 143380	    	2/5/1980	    	Hum	    	134	    	308	    	202643
	 RFG #202
	    	NMC 143381	    	1/3/1980	    	Hum	    	134	    	461	    	202802
	 RFG #203
	    	NMC 143382	    	1/30/1980	    	Hum	    	134	    	462	    	202803
	 RFG #204
	    	NMC 143383	    	1/30/1980	    	Hum	    	134	    	463	    	202804
	 RFG #205
	    	NMC 143384	    	1/30/1980	    	Hum	    	134	    	464	    	202805
	 RFG #206
	    	NMC 143385	    	1/30/1980	    	Hum	    	134	    	465	    	202806
	 RFG #207
	    	NMC 143386	    	1/30/1980	    	Hum	    	134	    	466	    	202807
	 RFG #208
	    	NMC 143387	    	1/30/1980	    	Hum	    	134	    	467	    	202808
	 RFG #209
	    	NMC 143388	    	1/30/1980	    	Hum	    	134	    	468	    	202809
	 RFG #210
	    	NMC 143389	    	1/30/1980	    	Hum	    	134	    	469	    	202810
	 RFG #211
	    	NMC 143390	    	1/30/1980	    	Hum	    	134	    	470	    	202811
	 RFG #212
	    	NMC 143391	    	1/30/1980	    	Hum	    	134	    	471	    	202812
	 RFG #213
	    	NMC 143392	    	1/30/1980	    	Hum	    	134	    	472	    	202813
	 RFG #214
	    	NMC 143393	    	1/30/1980	    	Hum	    	134	    	473	    	202814
	 RFG #215
	    	NMC 143394	    	1/30/1980	    	Hum	    	134	    	474	    	202815
	 RFG #216
	    	NMC 143395	    	1/30/1980	    	Hum	    	134	    	476	    	202817
	 RFG #217
	    	NMC 143396	    	1/30/1980	    	Hum	    	134	    	477	    	202818
	 RFG #218
	    	NMC 143397	    	2/13/1980	    	Hum	    	134	    	479	    	202820
	 RFG #219
	    	NMC 143398	    	2/13/1980	    	Hum	    	134	    	482	    	202823
	 RFG #220
	    	NMC 143399	    	1/31/1980	    	Hum	    	134	    	484	    	202825
	 RFG #221
	    	NMC 143400	    	1/31/1980	    	Hum	    	134	    	490	    	202833
	 RFG #222
	    	NMC 143401	    	1/31/1980	    	Hum	    	134	    	485	    	202826
	 RFG #223
	    	NMC 143402	    	1/31/1980	    	Hum	    	134	    	491	    	202834
	 RFG #224
	    	NMC 143403	    	1/26/1980	    	Hum	    	134	    	492	    	202835
	 RFG #225
	    	NMC 143404	    	1/26/1980	    	Hum	    	134	    	493	    	202836
	 RFG #226
	    	NMC 143405	    	1/26/1980	    	Hum	    	134	    	494	    	202837
	 RFG #227
	    	NMC 143406	    	1/26/1980	    	Hum	    	134	    	495	    	202838
	 RFG #239
	    	NMC 143407	    	1/26/1980	    	Hum	    	134	    	500	    	202843
	 RFG #240
	    	NMC 143408	    	2/22/1980	    	Hum	    	134	    	502	    	202845
	 RFG #241
	    	NMC 143409	    	3/11/1980	    	Hum	    	134	    	504	    	202847
	 RFG #242
	    	NMC 143410	    	3/11/1980	    	Hum	    	134	    	506	    	202849
	 RFG #243
	    	NMC 143411	    	2/1/1980	    	Hum	    	134	    	507	    	202850
	 RFG #244
	    	NMC 143412	    	2/3/1980	    	Hum	    	134	    	508	    	202851
	 RFG #245
	    	NMC 143413	    	2/3/1980	    	Hum	    	134	    	509	    	202852
	 RFG #246
	    	NMC 143414	    	2/3/1980	    	Hum	    	134	    	486	    	202827
	 RFG #247
	    	NMC 143415	    	2/3/1980	    	Hum	    	134	    	487	    	202828
	 RFG #248
	    	NMC 143416	    	2/3/1980	    	Hum	    	134	    	488	    	202829
	 RFG #264
	    	NMC 143417	    	1/11/1980	    	Hum	    	134	    	510	    	202855
	 RFG #265
	    	NMC 143418	    	1/11/1980	    	Hum	    	134	    	511	    	202856
	 RFG #266
	    	NMC 143419	    	1/17/1980	    	Hum	    	134	    	512	    	202857
	 RFG #267
	    	NMC 143420	    	1/17/1980	    	Hum	    	134	    	513	    	202858
	 RFG #268
	    	NMC 143421	    	1/17/1980	    	Hum	    	134	    	514	    	202859
	 RFG #269
	    	NMC 143422	    	1/17/1980	    	Hum	    	134	    	515	    	202860
	 RFG #270
	    	NMC 143423	    	1/17/1980	    	Hum	    	134	    	516	    	202861
	 RFG #271
	    	NMC 143424	    	1/17/1980	    	Hum	    	134	    	517	    	202862
	 RFG #305
	    	NMC 143444	    	1/18/1980	    	Hum	    	134	    	523	    	202868
	 RFG #306
	    	NMC 143445	    	1/18/1980	    	Hum	    	134	    	524	    	202869
	 RFG #307
	    	NMC 143446	    	1/18/1980	    	Hum	    	134	    	525	    	202870

  

					
		  	- 29 -	  	

													
	 RFG #328
	    	NMC 143453	    	1/11/1980	    	Hum	    	134	    	526	    	202872
	 RFG #330
	    	NMC 143455	    	1/11/1980	    	Hum	    	134	    	528	    	202874
	 RFG #332
	    	NMC 143457	    	1/11/1980	    	Hum	    	134	    	530	    	202876
	 RFG #334
	    	NMC 143459	    	1/11/1980	    	Hum	    	134	    	532	    	202878
	 RFG #336
	    	NMC 143461	    	1/11/1980	    	Hum	    	134	    	534	    	202880
	 RFG #338
	    	NMC 143463	    	1/22/1980	    	Hum	    	134	    	536	    	202882
	 RFG #340
	    	NMC 143465	    	1/22/1980	    	Hum	    	134	    	538	    	202884
	 RFG #342
	    	NMC 143467	    	1/22/1980	    	Hum	    	134	    	540	    	202886
	 RFG #358
	    	NMC 143469	    	1/31/1980	    	Hum	    	134	    	489	    	202830
	 RFG #359
	    	NMC 143470	    	1/31/1980	    	Hum	    	134	    	310	    	202645
	 RFG #360
	    	NMC 143471	    	1/31/1980	    	Hum	    	134	    	311	    	202646
	 RFG #361
	    	NMC 143472	    	1/31/1980	    	Hum	    	134	    	312	    	202647
	 RFG #362
	    	NMC 143473	    	1/31/1980	    	Hum	    	134	    	313	    	202648
	 RFG #363
	    	NMC 143474	    	1/31/1980	    	Hum	    	134	    	315	    	202650
	 RFG #364
	    	NMC 143475	    	1/31/1980	    	Hum	    	134	    	316	    	202651
	 RFG #365
	    	NMC 143476	    	1/31/1980	    	Hum	    	134	    	318	    	202653
	 RFG #366
	    	NMC 143477	    	1/31/1980	    	Hum	    	134	    	319	    	202654
	 RFG #367
	    	NMC 143478	    	1/31/1980	    	Hum	    	134	    	321	    	202656
	 RFG #368
	    	NMC 143479	    	2/1/1980	    	Hum	    	134	    	322	    	202657
	 RFG #262
	    	NMC 143487	    	1/11/1980	    	Hum	    	134	    	412	    	202751
	 RFG #0BF
	    	NMC 143488	    	1/30/1980	    	Hum	    	134	    	499	    	202842
	 RFG #1FS
	    	NMC 143489	    	1/27/1980	    	Hum	    	134	    	496	    	202839
	 RFG #12A
	    	NMC 143490	    	2/20/1980	    	Hum	    	134	    	284	    	202619
	 RFG #13A
	    	NMC 143491	    	2/20/1980	    	Hum	    	134	    	286	    	202621
	 RFG #22A
	    	NMC 143492	    	2/20/1980	    	Hum	    	134	    	296	    	202631
	 RFG #29A
	    	NMC 143493	    	2/6/1980	    	Hum	    	134	    	304	    	202639
	 RFG #29B
	    	NMC 143494	    	2/6/1980	    	Hum	    	134	    	305	    	202640
	 RFG #30A
	    	NMC 143495	    	1/5/1980	    	Hum	    	134	    	306	    	202641
	 RFG #36A
	    	NMC 143496	    	2/7/1980	    	Hum	    	134	    	331	    	202637
	 RFG #36B
	    	NMC 143497	    	2/7/1980	    	Hum	    	134	    	332	    	202668
	 RFG #201A
	    	NMC 143504	    	2/5/1980	    	Hum	    	134	    	309	    	202644
	 RFG #215B
	    	NMC 143505	    	2/14/1980	    	Hum	    	134	    	475	    	202816
	 RFG #217B
	    	NMC 143506	    	2/14/1980	    	Hum	    	134	    	478	    	202819
	 RFG #218A
	    	NMC 143507	    	2/4/1980	    	Hum	    	134	    	480	    	202821
	 RFG #218B
	    	NMC 143508	    	2/4/1980	    	Hum	    	134	    	481	    	202822
	 RFG #219B
	    	NMC 143509	    	2/13/1980	    	Hum	    	134	    	483	    	202824
	 RFG #238F
	    	NMC 143510	    	1/29/1980	    	Hum	    	134	    	497	    	202840
	 RFG #239A
	    	NMC 143511	    	2/22/1980	    	Hum	    	134	    	498	    	202841
	 RFG #362A
	    	NMC 143512	    	2/5/1980	    	Hum	    	134	    	498	    	202649
	 RFG #364A
	    	NMC 143513	    	2/5/1980	    	Hum	    	134	    	317	    	202652
	 RFG #366A
	    	NMC 143514	    	2/6/1980	    	Hum	    	134	    	320	    	202655
	 RFG #368A
	    	NMC 143515	    	2/6/1980	    	Hum	    	134	    	323	    	202658
	 RFG #241A
	    	NMC 143596	    	3/11/1980	    	Hum	    	134	    	505	    	202848
	 RFG #240
	    	NMC 143597	    	2/22/1980	    	Hum	    	134	    	503	    	202846
	 RFG #239
	    	NMC 143598	    	2/22/1980	    	Hum	    	134	    	501	    	202844
	 RFG #400
	    	NMC 175062	    	10/25/1980	    	Hum	    	143	    	13	    	208753
	 RFG #401
	    	NMC 175063	    	10/25/1980	    	Hum	    	143	    	14	    	208754
	 RFG #402
	    	NMC 175064	    	10/25/1980	    	Hum	    	143	    	15	    	208755
	 RFG #403
	    	NMC 175065	    	10/25/1980	    	Hum	    	143	    	16	    	208756
	 RFG #404
	    	NMC 175066	    	10/17/1980	    	Hum	    	143	    	17	    	208757

  

					
		  	- 30 -	  	

													
	 RFG #405
	    	NMC 175067	    	10/17/1980	    	Hum	    	143	    	18	    	208758
	 RFG #406
	    	NMC 175068	    	10/17/1980	    	Hum	    	143	    	19	    	208759
	 RFG #407
	    	NMC 175069	    	10/17/1980	    	Hum	    	143	    	20	    	208760
	 RFG #408
	    	NMC 175070	    	10/17/1980	    	Hum	    	143	    	21	    	208761
	 RFG #409
	    	NMC 175071	    	10/17/1980	    	Hum	    	143	    	22	    	208762
	 RFG #410
	    	NMC 175072	    	10/17/1980	    	Hum	    	143	    	23	    	208763
	 RFG #411
	    	NMC 175073	    	10/17/1980	    	Hum	    	143	    	24	    	208764
	 RFG #412
	    	NMC 175074	    	10/17/1980	    	Hum	    	143	    	25	    	208765
	 RFG #413
	    	NMC 175075	    	10/17/1980	    	Hum	    	143	    	26	    	208766
	 RFG #414
	    	NMC 175076	    	10/17/1980	    	Hum	    	143	    	27	    	208767
	 RFG #415
	    	NMC 175077	    	10/17/1980	    	Hum	    	143	    	28	    	208768
	 RFG #416
	    	NMC 175078	    	10/17/1980	    	Hum	    	143	    	29	    	208769
	 RFG #417
	    	NMC 175079	    	10/17/1980	    	Hum	    	143	    	30	    	208770
	 RFG #418
	    	NMC 175080	    	10/17/1980	    	Hum	    	143	    	31	    	208771
	 RFG #419
	    	NMC 175081	    	10/17/1980	    	Hum	    	143	    	32	    	208772
	 RFG #420
	    	NMC 175082	    	10/17/1980	    	Hum	    	143	    	33	    	208773
	 RFG #421
	    	NMC 175083	    	10/17/1980	    	Hum	    	143	    	34	    	208774
	 RFG #422
	    	NMC 175084	    	10/17/1980	    	Hum	    	143	    	35	    	208775
	 RFG #423
	    	NMC 175085	    	10/17/1980	    	Hum	    	143	    	36	    	208776
	 RFG #424
	    	NMC 175086	    	10/17/1980	    	Hum	    	143	    	37	    	208777
	 RFG #425
	    	NMC 175087	    	10/17/1980	    	Hum	    	143	    	38	    	208778
	 RFG #426
	    	NMC 175088	    	10/17/1980	    	Hum	    	143	    	39	    	208779
	 RFG Fraction #427
	    	NMC 175089	    	10/17/1980	    	Hum	    	143	    	40	    	208780
	 Pacific #2
	    	NMC 181010	    	11/4/1980	    	Hum	    	144	    	13	    	209365
	 Sulphate
	    	NMC 181011	    	11/4/1980	    	Hum	    	144	    	14	    	209366
	 Alunite
	    	NMC 181012	    	11/4/1980	    	Hum	    	144	    	15	    	209367
	 Alunite #2
	    	NMC 181013	    	11/4/1980	    	Hum	    	144	    	16	    	209368
	 DLA #1
	    	NMC 284248	    	8/25/1983	    	Hum	    	180	    	326	    	235588
	 DLA #2
	    	NMC 284249	    	8/25/1983	    	Hum	    	180	    	327	    	235589
	 DLA #3
	    	NMC 284250	    	8/25/1983	    	Hum	    	180	    	328	    	235590
	 DLA #4
	    	NMC 284251	    	8/25/1983	    	Hum	    	180	    	329	    	235591
	 DLA #5
	    	NMC 284252	    	8/25/1983	    	Hum	    	180	    	330	    	235592
	 RFG #328X
	    	NMC 307553	    	5/15/1984	    	Hum	    	187	    	435	    	240672
	 RFG # 39
	    	NMC 436884	    	6/28/1987	    	Hum	    	242	    	228	    	280585
	 RFG # 72
	    	NMC 436912	    	6/28/1987	    	Hum	    	242	    	229	    	280586
	 WKM-1
	    	NMC 780688	    	9/30/1997	    	Hum	    		    		    	19979326
	 WKM-2
	    	NMC 780689	    	9/30/1997	    	Hum	    		    		    	19979327
	 WKM-3
	    	NMC 780690	    	9/30/1997	    	Hum	    		    		    	19979328
	 WKM-4
	    	NMC 780691	    	9/30/1997	    	Hum	    		    		    	19979329
	 WKM-5
	    	NMC 780692	    	9/30/1997	    	Hum	    		    		    	19979330
	 WKM-6
	    	NMC 780693	    	9/30/1997	    	Hum	    		    		    	19979331
	 WKM-7
	    	NMC 780694	    	9/30/1997	    	Hum	    		    		    	19979332
	 WKM-8
	    	NMC 780695	    	9/30/1997	    	Hum	    		    		    	19979333
	 WKM-9
	    	NMC 780696	    	9/30/1997	    	Hum	    		    		    	19979334
	 WKM-10
	    	NMC 780697	    	9/30/1997	    	Hum	    		    		    	19979335
	 WKM-11
	    	NMC 780698	    	9/30/1997	    	Hum	    		    		    	19979336
	 WKM-12
	    	NMC 780699	    	9/30/1997	    	Hum	    		    		    	19979337
	 WKM-13
	    	NMC 780700	    	9/30/1997	    	Hum	    		    		    	19979338
	 WKM-14
	    	NMC 780701	    	9/30/1997	    	Hum	    		    		    	19979339
	 WKM-15
	    	NMC 780702	    	9/30/1997	    	Hum	    		    		    	19979340

  

					
		  	- 31 -	  	

									
	 WKM-16
	    	NMC 780703	    	9/30/1997	    	Hum	    	19979341
	 WKM-17
	    	NMC 780704	    	9/30/1997	    	Hum	    	19979342
	 WKM-18
	    	NMC 780705	    	9/30/1997	    	Hum	    	19979343
	 WKM-19
	    	NMC 780706	    	10/1/1997	    	Hum	    	19979344
	 WKM-20
	    	NMC 780707	    	10/1/1997	    	Hum	    	19979345
	 WKM-21
	    	NMC 780708	    	10/1/1997	    	Hum	    	19979346
	 WKM-22
	    	NMC 780709	    	10/1/1997	    	Hum	    	19979347
	 WKM-23
	    	NMC 780710	    	10/1/1997	    	Hum	    	19979348
	 WKM-24
	    	NMC 780711	    	10/1/1997	    	Hum	    	19979349
	 WKM-25
	    	NMC 780712	    	10/1/1997	    	Hum	    	19979350
	 WKM-26
	    	NMC 780713	    	10/1/1997	    	Hum	    	19979351
	 WKM-27
	    	NMC 780714	    	10/1/1997	    	Hum	    	19979352
	 WKM-28
	    	NMC 780715	    	10/1/1997	    	Hum	    	19979353
	 WKM-29
	    	NMC 780716	    	10/1/1997	    	Hum	    	19979354
	 WKM-30
	    	NMC 780717	    	10/1/1997	    	Hum	    	19979355
	 WKM-31
	    	NMC 780718	    	10/1/1997	    	Hum	    	19979356
	 WKM-32
	    	NMC 780719	    	10/1/1997	    	Hum	    	19979357
	 WKM-33
	    	NMC 780720	    	10/1/1997	    	Hum	    	19979358
	 WKM-34
	    	NMC 780721	    	10/1/1997	    	Hum	    	19979359
	 WKM-35
	    	NMC 780722	    	10/1/1997	    	Hum	    	19979360
	 WKM-36
	    	NMC 780723	    	10/1/1997	    	Hum	    	19979361
	 WKM-37
	    	NMC 780724	    	10/1/1997	    	Hum	    	19979362
	 WKM-38
	    	NMC 780725	    	10/1/1997	    	Hum	    	19979363
	 WKM-39
	    	NMC 780726	    	10/1/1997	    	Hum	    	19979364
	 WKM-40
	    	NMC 780727	    	10/1/1997	    	Hum	    	19979365
	 WKM-41
	    	NMC 780728	    	10/1/1997	    	Hum	    	19979366
	 WKM-42
	    	NMC 780729	    	10/1/1997	    	Hum	    	19979367
	 WKM-43
	    	NMC 780730	    	10/1/1997	    	Hum	    	19979368
	 WKM-44
	    	NMC 780731	    	10/1/1997	    	Hum	    	19979369
	 WKM-45
	    	NMC 780732	    	10/1/1997	    	Hum	    	19979370
	 WKM-46
	    	NMC 780733	    	10/1/1997	    	Hum	    	19979371
	 WKM-47
	    	NMC 780734	    	10/1/1997	    	Hum	    	19979372
	 WKM-48
	    	NMC 780735	    	10/1/1997	    	Hum	    	19979373
	 WKM-50
	    	NMC 780736	    	10/1/1997	    	Hum	    	19979374
	 WKM-51
	    	NMC 780737	    	10/2/1997	    	Hum	    	19979375
	 WKM-52
	    	NMC 780738	    	10/2/1997	    	Hum	    	19979376
	 WKM-53
	    	NMC 780739	    	10/2/1997	    	Hum	    	19979377
	 WKM-54
	    	NMC 780740	    	10/2/1997	    	Hum	    	19979378
	 WKM-55
	    	NMC 780741	    	10/2/1997	    	Hum	    	19979379
	 WKM-56
	    	NMC 780742	    	10/2/1997	    	Hum	    	19979380
	 WKM-57
	    	NMC 780743	    	10/2/1997	    	Hum	    	19979381
	 WKM-58
	    	NMC 780744	    	10/2/1997	    	Hum	    	19979382
	 WKM-60
	    	NMC 780745	    	10/6/1997	    	Hum	    	19979383
	 WKM-62
	    	NMC 780746	    	10/6/1997	    	Hum	    	19979384
	 WKM-64
	    	NMC 780747	    	10/6/1997	    	Hum	    	19979385
	 RFG 130A
	    	Not yet filed	    	1/8/2008	    	Hum	    	Not yet filed

  

					
		  	- 32 -	  	

 Crofoot Mine Patented Claims owned by Hycroft Resources & Development, Inc., a Nevada corporation

  

						
	 Claim Name
	  	Patent No.	  	Survey No.	 
	 Admission Placer
	  	908431	  	4355	 
	 Black Rock
 (also known as the Blackrock)
	  	1064817	  	4688A	 
	 Green Rock #1 - #4
	  	1223182	  	4839 	(orig.)
		  		  	4857 	(pat.)
	 Sheol Sulfur Mine Nos. 1 - 8
 (also known as the Sheole Nos. 1 - 8)
	  	908431	  	4355	 
	 Swager Placer
	  	1213605	  	4839	 
	 West Virginia No. 1
	  	1064817	  	4688A	 
	 West Virginia No. 2
	  	1064817	  	4688A	 

 Lewis Mine Patented Claims owned by Victory Exploration Inc., formerly known as F.W. Lewis, Inc., a Nevada
corporation 
  

							
	 Claim Name
	  	Patent No.	 	Survey No.	 	 
	 Hilltop Placer
	  	1008652	 	4598	 	
	 Occult Placer
	  	1008652	 	4598	 	
	 Sheol Sulfur Mine No. 9
 (also known as the Sheole #9)
	  	1008652	 	4598	 	

  

					
		  	- 33 -	  	

 Description of Water Rights 
 Water Appropriation Permit, No. 42675, approved 5-22-1981; Mabel Crofoot, leased by Hycroft Lewis Mine, Inc. 
 Water
Appropriation Permit, No. 47423, Certificate No. 13448, 8-20-1992; Victory Exploration Inc., formerly known as F.W. Lewis, Inc., leased by Hycroft Lewis Mine, Inc. 
 Water Appropriation Permit, No. 49533, Certificate No. 13859, 3-22-1994; Hycroft Resources & Development, Inc. 
 Water Appropriation Permit, No. 51112, Certificate No. 13457, 8-20-1992; Hycroft Resources & Development, Inc. 
 Water
Appropriation Permit, No. 51113, Certificate No. 13458, 8-20-1992; Hycroft Resources & Development, Inc. 
 Water Appropriation Permit,
No. 51473, changes place and manner of use of 42675; Mabel Crofoot, leased by Hycroft Lewis Mine, Inc. 
 Water Appropriation Permit, No. 60230,
approved 7-719-95, same POD as 51113; Hycroft Resources & Development, Inc. 
 Water Appropriation Permit, No. 60231, approved 7-7-1995, same
POD as 51112; Hycroft Resources & Development, Inc. 
 Water Appropriation Permit, No. 61255, filed 5-24-1995, pending, Jungo Road Well #1;
Hycroft Resources & Development, Inc. and Humboldt County 
 Water Appropriation Permit, No. 61256, filed 5-24-1995, pending, Jungo Road Well
#2; Hycroft Resources & Development, Inc. and Humboldt County 
  

					
		  	- 34 -	  	

 SCHEDULE “B” 
 PROMISSORY NOTE 
 Principal Amount: CAD$l 
 This note is made pursuant to the credit agreement (the “Credit Agreement”) dated for reference March 17, 2008 between HYCROFT RESOURCES &
DEVELOPMENT, INC., ALLIED NEVADA GOLD CORP., HYCROFT LEWIS MINE, INC., VICTORY EXPLORATION INC., VICTORY GOLD INC., ALLIED VGH INC., ALLIED NEVADA GOLD HOLDINGS LLC and ALLIED VNC INC. and IONIC CAPITAL CORP. and is subject to the terms thereof.

 For value received, HYCROFT RESOURCES & DEVELOPMENT, INC. (the “Borrower”) hereby promises to pay to IONIC CAPITAL CORP. (the
“Lender”) the principal amount of l CANADIAN DOLLARS (CAD$l) (the “Principal Amount”) on (subject to the rights of the Lender to accelerate
payment under the Credit Agreement) March 30, 2009, together with interest accruing on the outstanding Principal Amount from the date hereof at a rate of TWELVE PERCENT (12%) per annum, compounded monthly (effective rate of 12.68% per
annum), before and after each of maturity, default and judgment, payable monthly on the last Business Day of every month. All payments under this promissory note will be made by certified cheque, bank draft or wire transfer (pursuant to wire
transfer instructions provided by the Lender from time to time) and delivered to the Lender at Suite 1028, 550 Burrard Street, Vancouver, British Columbia V6C 2B5. 
 The undersigned is entitled to prepay this promissory note, in whole or in part, without notice or penalty. The undersigned waives demand and presentment for payment, notice of non-payment, protest, notice of protest and notice of
dishonour. This promissory note will be governed by and construed in accordance with the laws of the State of Nevada and the federal laws of the United States applicable therein. In this promissory note, “Business Day” means a day
which is not a Saturday, Sunday or a statutory holiday in the State of Nevada. 
 Dated: March l, 2008. 
 HYCROFT RESOURCES & DEVELOPMENT, INC. 
  

			
	Per:	 	  

		 	Authorized Signatory

  

					
		  	- 35 -	  	

 SCHEDULE “C” 
 DRAWING NOTICE AND CERTIFICATION 
  

			
	TO:	  	IONIC CAPITAL CORP. (the “Lender”)
		
	FROM:	  	HYCROFT RESOURCES & DEVELOPMENT, INC. (the “Borrower”)
		
	RE:	  	CREDIT AGREEMENT (the “Credit Agreement”) dated for reference March 17, 2008 between the Lender, the Borrower and certain guarantors thereunder (together with the Borrower,
the “Credit Parties”)

 All capitalized terms used herein which are not defined herein shall have the same meaning ascribed thereto in the
Credit Agreement. 
 Pursuant to subparagraph l of the Credit Agreement, the undersigned hereby provides you with an
irrevocable notice that on the date set out below the undersigned will draw down the amount set out below pursuant to the Facility: 
  

											
	Date of Advance:	  	l, 2008	  		  		  		  	
	Amount of Advance:	  	$l	  		  		  		  	

 The Borrower hereby certifies that: 
  

	(a)	each of the representations and warranties of the Credit Parties contained in the Credit Agreement is true and correct in all material respects as at the date hereof;

  

	(b)	all of the terms, covenants and conditions contained in the Credit Agreement to be complied with or performed by the Credit Parties at or prior to the date hereof described above
have been complied with or performed; and 

  

	(c)	no default or Event of Default has occurred or will occur as a result of the Lender advancing the amount described above. 

 DATED l, 2008. 
 HYCROFT
RESOURCES & DEVELOPMENT, INC. 
  

			
		
	Per:	 	  

		 	Authorized Signatory

  

					
		  	- 36 -	  	

 SCHEDULE “D” 
 SUBSIDIARIES 
  

	•	 	 Allied Nevada Gold Holdings LLC, a Nevada limited liability company 

  

	•	 	 Hycroft Lewis Mine, Inc., a Nevada corporation 

  

	•	 	 Hycroft Resources & Development, Inc., a Nevada corporation 

  

	•	 	 Allied VGH Inc., a Nevada corporation 

  

	•	 	 Allied VNC Inc., a Nevada corporation 

  

	•	 	 Victory Gold Inc., a Nevada corporation 

  

	•	 	 Victory Exploration Inc., a Nevada corporation 

  

					
		  	- 37 -	  	

 SCHEDULE “E” 
 PERMITTED ENCUMBRANCES 
 “Permitted Encumbrances” means, with respect to the assets
of the Credit Parties any of the following encumbrances: 
 (a) Any lien for taxes, assessments or government charges or levies not at the
time due and delinquent or the validity of which is being contested at the time by such person in good faith by proper legal proceedings, and which contested lien in the reasonable opinion of the Lender does not, and could not reasonably be expected
to, have a materially adverse effect on any of the Credit Parties. 
 (b) The lien of any judgment rendered or claim filed against any of the
Credit Parties which such Credit Parties are contesting in good faith by proper legal proceedings, and which lien in the reasonable opinion of the Lender does not, and could not reasonably be expected to, have a materially adverse effect on any of
the Credit Parties. 
 (c) Purchase money security interests, and liens imposed by or granted pursuant to financial leases or conditional
sale contracts with respect to the assets being financed, leased or sold, which are created in the normal course of business, provided that such assets are and remain subject to the Security. 
 (d) Builder’s, mechanic’s, architect’s, supplier’s, labourer’s, materialman’s and other similar liens or privileges
incidental to then-current construction, improvement or maintenance of any property or the furnishing of any materials or supplies. 
 (e)
Easements, rights-of-way or similar rights in land granted to or reserved by other persons which do not materially impair the usefulness or value of the assets or property subject to them. 
 (f) The right reserved to or vested in any governmental or public authority by any lease, licence, franchise, grant, permit or statutory provision to
terminate any lease, licence, franchise, grant or permit, or to require annual or other periodic payments as a condition of their continued effect. 
 (g) The encumbrance resulting from the deposit of cash as security when such person is required to do so by governmental or other public authority or by normal business practice in connection with contracts, licences or tenders or similar
matters in the ordinary course of business and for the purpose of carrying on the same or to secure workers’ compensation, surety or appeal bonds or to secure costs of litigation when required by law or to secure performance of reclamation
obligations under applicable laws and regulations. 
 (h) Public and statutory obligations which are not yet due or delinquent and security
given to a public utility or any governmental or public authority when required in connection with the operations of such person. 
  

					
		  		  	

 (i) In respect of any particular asset or property of any of the Credit Parties, any lien which the
Lender approves in writing. 
 (j) Royalty interests granted to or reserved by other persons in the agreements and conveyances by which the
Credit Parties acquired the rights and title to their assets and the rights of parties to any agreements concerning such assets in effect on the date of this Agreement, including any lease, option or other agreement for the joint venture, lease, or
purchase and sale of any minerals, mineral rights and other real property interests existing or contemplated on the date of this Agreement. 
 (k) In respect of any unpatented mining claims leased or owned by the Credit Parties, the paramount title of the United States. 
 (l) Any facts which would be disclosed by an on-site inspection and correct survey of any of the lands, patented mining claims or unpatented mining claims leased or owned by the Credit Parties. 
 (m) Any easement or right-of-way which is not of record, including any road established under RS 2477. 
 (n) The community property interest of the spouse of any married person in the chain of title if such spouse failed to join in any conveyance in the
chain of title. 
 (o) Inchoate mechanic’s and materialmen’s liens under the laws of the State of Nevada, the priority of which may
relate back to the date on which the first services or materials were provided for the improvement of the property subject to any such lien. 
 (p) Tax liens of the United States not recorded in the records of the office of the recorder of any county in which any of the assets is located. 
 (q) Any zoning or land use regulation or restrictions imposed by the State of Nevada or any of its political subdivisions which has jurisdiction of any of the assets of the Credit Parties. 
 (r) Conflicts and overlaps among any of the unpatented mining claims leased or owned by any of the Credit Parties and unpatented mining claims owned by
other parties. 
 (s) In respect of the Hycroft Mining Properties, the matters described in the Mineral Status Report prepared by counsel for
the Credit Parties. 
 (t) The lien and security interest created by the Deed of Trust, Security Agreement, Assignment of Leases and Rents
and Fixture Filing to Secure Promissory Note, Pledge Agreements and Security Agreements executed and delivered by the Credit Parties in accordance with this Agreement. 
  

					
		  	- 2 -	  	

 (u) Reservations and exceptions stated in patents and Acts of law authorizing the issuance of the patents
for the fee lands and patented mining claims which constitute all or part of the Hycroft Mine Property. 
  

					
		  	- 3 -

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00139-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00139-of-00352.parquet"}]]