Document:

Filed by Automated Filing Services Inc. (604) 609-0244 - Quincy Resources, Inc. -  Exhibit 10.20

MINING LEASE AND AGREEMENT

                     THIS
  LEASE AND AGREEMENT (the "Agreement"), made this 15th day of December, 2003
  by and between NEVADA CONTACT INC., a Colorado corporation (hereinafter called
  "Owner") and QUINCY RESOURCES INCORPORATED, a Nevada corporation, (hereinafter
  called "Company"): 

WITNESSETH:

 1.                  Owner
  represents that subject to the paramount title of the United States, he is the
  sole and only owner of the unpatented mining claims, situated in Owyhee County,
  Idaho, described on Exhibit A attached hereto and incorporated herein (hereinafter
  referred to as the " Claims") and is the sole lessee under that certain State
  of Idaho Department of Lands Mineral Lease Number 9315 covering lands and mineral
  rights as also described on Exhibit A attached hereto and incorporated herein
  (hereinafter referred to as the "State Lease") and both the State Lease and
  the Claims collectively shall hereinafter be referred to as the "Property";
  that each of the unpatented claims included in the Claims has been validly located,
  filed and recorded in compliance with the laws of the State Idaho and of the
  United States as they relate to location and recordation of such claims; that
  Owner has timely complied with all of the filing provisions of the Federal Land
  Policy and Management Act (43 U.S.C. Section 1701, et seq.) as they pertain
  to the unpatented claims included within the Claims and that said claims are
  valid and subsisting mining claims; that Owner has performed assessment work
  upon said claims through the assessment year ended September 1, 2004, and has
  recorded and filed proof thereof, all of which work, recordings and filings
  have been completed in accordance with the applicable state and federal statutes
  pertaining to assessment work; that Owner has fully and timely paid the holding
  fees, if any, required to maintain the unpatented mining claims to the date
  of this Agreement; that Owner has timely paid any and all fees to maintain the
  State Lease through February 29, 2004; at Owner's rights in the Property
  are not subject to any prior agreement, encumbrance, burden or restriction created
  by any act or instrument of Owner; that to the best of Owner's knowledge, the
  Property is free from liens and encumbrances and other adverse claims by third
  parties; and that the Property is not burdened with any royalties, overriding
  royalties, net profits interests or payments on production other than those
  specifically provided for in the State Lease. 

 2.                  Owner
  hereby grants, lets and leases exclusively to Company the Claims, for the term
  hereof, together with all ores and minerals of every kind, except oil and gas,
  in, on or under the Property, with the exclusive right to prospect and explore
  for, mine by any method now known or hereafter discovered (including, but not
  limited to, underground, open pit, in-situ and solution methods), process by
  any method now known or hereafter discovered, mill, prepare for market, store,
  sell and dispose of the same; and together with all such rights-of-way, easements,
  water and water rights, geothermal water and geothermal resources, of every
  kind and nature, through, over, on or appertaining to the Claims, and the right
  to erect, maintain and operate thereon and therein, buildings, structures, machinery
  and equipment, and the right to use, occupy and disturb so much of the surface
  of the Claims as Company may determine to be useful, desirable or convenient
  for the exercise by 

 Company of any and all of its rights hereunder, and the right
  in its sole discretion to exercise any rights or options of Owner with respect
  to the Claims or any portion thereof under any law or regulation hereafter enacted,
  including but not limited to the right to convert any or all of the unpatented
  claims included in the Claims and the other rights described in Section 7 herein.
  In the event Owner acquires any additional rights, titles or interests in the
  Claims after the execution of this Agreement, all such additional rights, titles
  and interests shall be subject to this Agreement.  

 3.                  Owner
  shall assign the State Lease to Company within 60 days of the date of this Agreement.
  Company shall reimburse Owner for any bond which is transferred to Company within
  10 days of notice of transfer. Company agrees to apply for any necessary bonding
  to comply with the terms of the State Lease in the event that existing
  bond transfer is denied. 

 4.                  If
  Owner's title is less than as stated in Section 1 hereof or is subject to a
  superior adverse interest, all payments, including Advance Royalty and Production
  Royalty payments, without limitation, to be made to Owner hereunder shall be
  reduced to the same proportion thereof as the undivided interest in the Property
  solely owned by Owner bears to the entire interest in the Claims or State Lease.

                     Company
  shall have sole discretion to determine the extent of its work, if any, on the
  Property and the time or times for beginning, continuing or resuming such work
  thereon. All activities carried out by Company under this Agreement shall conform
  with the laws and regulations of the State of Idaho and the United States. 

                     Company
  shall indemnify and hold harmless owner from all liability, including attorneys
  fees and costs, arising out of Company's exploration and Company's other activities
  hereunder, including but not limited to environmental and reclamation liabilities
  under existing and future laws and regulations. The indemnity set forth herein
  shall survive termination or expiration of this Agreement. 

                     Owner
  shall indemnify and hold harmless Company, its officers, directors, shareholders,
  employees and affiliates from any and all claims, demands and liabilities whatsoever
  arising from or in connection with Owner's operations or activities upon
  the Property which were conducted prior to the date of this Agreement, and conducted
  subsequent to the termination of this agreement, including, without limitation,
  surface and underground disturbances (including, but not limited to, underground
  workings, waste dumps, tailings, roads. drill holes and drill pads) and reclamation
  obligations. The indemnity set forth herein shall survive termination or expiration
  of this Agreement. 

 5.                  The
  term of this Agreement shall begin with the date hereof and shall continue to
  and until the fifteenth anniversary of such date and so long thereafter as Company
  continues to make advance royalty or production royalty payments. but subject
  to earlier termination as provided in this Agreement. After termination of this
  Agreement. Company shall have the right of ingress and egress from the Property
  and the right to complete such reclamation and restoration of the Property and
  to make such inspections as may be required by law. for so 

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 long after termination of this Agreement as is necessary to
  complete all such reclamation. restoration and inspections. Nothing in this
  paragraph shall require Owner to maintain any of the Property beyond the term
  of this lease. 

 6.                  Unless
  and until this Agreement is sooner terminated, Company shall pay Owner Advance
  Royalty payments in accordance with the following schedule: 

	 	Advance Royalty Payment	Payable on or before
	 	$10,000	On execution
	 	$10,000	Each December 15th thereafter

                     All
  Advance Royalty payments payable to Owner pursuant to this paragraph shall be
  credited to and recoverable from Production Royalty payments payable by Company
  to Owner. Said right of recovery shall apply to the first such Production Royalty
  payments accruing and shall continue thereafter until Company has recovered
  the full amount of previously paid Advance Royalty payments. All Advance Royalty
  payments accruing subsequent to the first Production Royalty payment shall be
  recovered and deducted in a like manner from Production Royalty payments thereafter
  accruing. 

                     Company
  shall pay to Owner a Production Royalty of 3% of the net smelter return (NSR)
  on any Production from the Claims. Company shall pay to Owner an override of
  1% NSR on any production from the State Lease. Once the Owner has received total
  compensation from the Company of one million dollars ($1,000,000.00), the NSR
  on Production from the Claims shall be reduced to 1% NSR and the override on
  the State Lease shall be reduced to 0.25% NSR. 

                     Net
  smelter returns shall be calculated for each calendar quarter in which net smelter
  returns are realized, and such royalty payments as are due Owner hereunder shall
  be made within thirty (30) days following the end of the calendar quarter in
  which the net smelter returns were realized. The gold price used to calculate
  the payable NSR percentage shall be the average London P. M. fix for the ninety
  (90) business days immediately preceeding the end of the calendar quarter in
  which the net smelter returns were realized. Such payments shall be accompanied
  by a statement summarizing the computation of net smelter returns. 

                     Quarterly
  royalty payments will be provisional and subject to adjustment at the end of
  Company's accounting year. If no written objection is made by Owner to the correctness
  of a royalty payment or its accompanying statement within 120 days from the
  date of such payment, such statement shall be conclusively deemed to be correct
  and such royalty payment sufficient and complete, and no exception or claim
  for adjustment shall thereafter be permitted. 

                     The
  term "net smelter returns" as used herein shall mean the net proceeds received
  by Company from the sale of minerals from the Property after deductions for
  all of the following:

(i)               Custom
  smelting costs, treatment charges and penalties 

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including, but without being limited
  to, metal losses, penalties for impurities and charges or deductions for refining,
  selling, and transportation from smelter to refinery and from refinery to market;
  provided, however, in the case of leaching operations, all processing and recovery
  costs incurred by Company beyond the point at which the metal being treated
  is in solution shall be considered as treatment charges (it being agreed and
  understood, however, that such processing and recovery costs shall not include
  the cost of mining, crushing, dump preparation, distribution of leach solutions
  or other mining and preparation costs up to the point at which the metal goes
  into solution);

(ii)              Cost
  of transporting mineral product from the concentrator to a smelter or other
  place of treatment. 

                     All
  payments and royalties payable hereunder may be made by Company's check, and
  delivery thereof shall be deemed completed on the mailing thereof to Owner.

 7.                  If
  required by state or federal law, Company shall perform annual labor or assessment
  work for the benefit of the Claims, pay any maintenance, rental, holding fee
  or other payment required to maintain the Claims, or both, for every assessment
  year thereafter in which Company continues this Agreement beyond July 1st of
  the assessment year. If any such law permits the performance of assessment work
  or annual labor in lieu of making all or a portion of any such payment, Company
  shall determine whether to make such payment, perform such work or labor, or
  both. If required by state or federal law, Company shall pay any location fee
  or payment required to relocate any unpatented mining claim or mill site included
  in the Property that Company determines under Section 8 should be relocated.
  For each assessment year in which Company performs annual labor or assessment
  work or makes any such payment, it shall record or file any affidavit or statement
  of such compliance required by federal or state law. Company shall timely pay
  to the state of Idaho any amounts due under the State Lease on or before February
  1st of each year. 

                     Company
  shall have the benefit of all laws now or hereafter enacted which relate to
  annual labor or assessment work or any payment required by this Section, including
  any laws extending the time within which to comply with such requirements,
  suspending such requirements, or exempting the Claims from such requirements,
  so that Company's obligations under this Section are limited to compliance with
  state and federal laws regarding such requirements in effect from time to time
  during the term of this Agreement. Company shall be relieved of its work or
  labor obligations under this Section for any period in which Company's access
  to the Claims is impeded by access force majeure under Section 15. 

 8.                  Upon
  request, Owner shall make available such abstracts of title and other title
  records pertaining to the Property which he may have to aid Company in any title
  searching it may wish to undertake. Company may. but shall have no obligation
  to, investigate and cure 

 4 

 as it sees fit any defects in title to the Property which
  Owner fails to remedy after notice by Company. Owner shall cooperate fully with
  Company in the curing of any such title defect, and Company shall reimburse
  Owner for Owner's actual expenses resulting from its cooperation in this effort.

                     Company
  may, but shall have no obligation to, investigate and cure as it sees fit any
  defects in the title, location, recordation or filing of the unpatented mining
  claims comprising the Claims, and Owner shall cooperate fully with the curing
  of said deficiencies at the expense of Company. Additionally, Owner authorizes
  Company, at its discretion, to relocate, amend, restake, refile and rerecord
  any particular mining claim or claims in the Claims or documents associated
  therewith. Where required for restaking or relocation, Owner shall execute notices
  of abandonment of mining claims, and, in turn, Company agrees that any relocation,
  restaking or location of fractions within the perimeter of the claim block shall
  be accomplished in Owner's name. If Company or Owner locates any unpatented
  mining claim or claims wholly or partially within the Area of Interest which
  is described on Exhibit B attached hereto and incorporated herein, such claims
  shall be added to the Property, and shall be subject to this Agreement. Company
  and Owner agree that neither Company nor owner are under any obligation to locate
  such claims. 

                     Owner
  shall apply for a patent for any of the unpatented mining claims upon the request
  of Company. All expenses authorized by Company in connection with prosecuting
  patent proceedings shall be borne by Company; and the rights of Company under
  this Agreement shall extend to any patented mining claims Owner receives by
  virtue of such patent proceedings, and to any amended location and relocation
  of the unpatented claims. 

                     Company
  and Owner recognize that legislation to amend the mining laws of the United
  States or the state of Idaho may be enacted during the term of this Agreement
  and that any such legislation, if enacted, will likely contain provisions affecting
  owners or holders of existing unpatented mining claims, including but not limited
  to provisions (i) permitting or requiring conversion of existing unpatented
  claims to a new type of mining claim or interest, (ii) permitting or requiring
  owners or holders of existing mining claims to comply with some or all of the
  requirements of such amended mining laws, or (iii) permitting or requiring owners
  or holders of existing mining claims to commence patent proceedings within a
  specified period of time ("Claim Holder Rights"). For all purposes of this Agreement,
  Owner grants to Company all Claim Holder Rights now or hereafter vested in Owner,
  whether contained in federal legislation, regulations promulgated thereunder
  or similar state laws or regulations, together with Owner's rights to enforce
  any existing rights to the Property or any Claim Holder Rights against any third
  party, or to litigate or contest any such existing rights or Claim Holder Rights
  before any court or administrative agency. Company may, but shall have no obligation
  to, exercise such rights as to any, all or none of the mining claims included
  in the Claims, at any time and from time to time, in Company's sole discretion.
  Owner shall cooperate in Company's exercise of such rights, including without
  limitation by executing required forms or documents, participating in any action
  or proceeding relating to such rights or allowing any such action or proceeding
  to be taken or prosecuted in Owner's name. 

 5 

                     If
  the United States or any third party attacks the validity of the mining claims
  included in the Claims, Company may, but shall have no obligation to, defend
  their validity. 

 9.                  Without
  limiting the generality of the rights granted in Section 2 above, Owner hereby
  grants Company the right to mine or remove from the Property any ores, waste,
  water or other materials existing therein or thereon, through or by means of
  shafts or openings which may be sunk or made upon adjoining or nearby property
  controlled by Company, and may stockpile any ores, waste or other materials
  and/or concentrated products of ores or materials from the Property upon stockpile
  grounds situated upon any such adjoining or nearby property; and Company may
  use the Property and any part thereof and any shafts, openings, and stockpile
  grounds, sunk or made thereon for the mining, removal and/or stockpiling of
  any ores, waste, water and other materials and/or concentrated products of ores
  or materials from any such adjoining or nearby property, or for any purpose
  or purposes connected therewith. 

                     Company
  may commingle ore from the Property with ore from other properties, either before
  or after concentration or beneficiation, so long as the data to determine the
  weight and assay, both of the ore removed from the Property and of other ores
  to be commingled, are obtained by Company. Company shall use that weight and
  assay data to allocate the royalties from the commingled ore between the Property
  and other properties from which the other commingled ore was removed. All such
  weight, assay and allocation calculations by Company shall be done in a manner
  recognized by the mining industry as practical and sufficient. 

 10.                 Company's
  records of all mining operations on the Property pertinent to computation of
  royalties shall be available for Owner's inspection upon reasonable advance
  notice and during normal business hours, but no more than once each quarter.
  Owner shall keep records in sufficient detail as may be necessary to determine
  the amount of royalty due from both the Claims and the State Lease individually.
  Owner may enter the mine workings and structures on the Property at all reasonable
  times upon reasonable advance notice for inspection thereof, but Owner shall
  so enter at his own risk and shall indemnify and hold Company harmless against
  and from any damage, loss or liability by reason of injury to Owner or his agents
  or representatives or damage to or destruction of any property of Owner or said
  agents or representatives while on the Property on or in said mine workings
  and structures. 

 11.                 Company
  shall pay all taxes assessed against any personal property which it may place
  on the Property and shall pay any taxes or increase in taxes assessed against
  the Property due to its operations thereon. Owner shall provide promptly to
  Company copies of all documents relating to such taxes or increase in taxes.
  Company may take such action, at its expense, as it deems proper to obtain a
  reduction or refund of taxes paid or payable by it, and Owner shall cooperate
  in such action, including but not limited to allowing such action to be taken
  and prosecuted in Owner's name. Owner shall pay all other taxes assessed against
  the Property, including all taxes assessed orpayable 

 6 

 at the time of the execution of this Agreement. 

 12.                 Company
  shall keep the Property free of all liens for labor or materials furnished to
  it in its operations hereunder and shall indemnify and save harmless Owner against
  and from any damage, loss or liability by reason of injury to person or damage
  to property as the result of its operations hereunder, except as provided in
  Section 10 above. Company may, but shall have no obligation to, contest the
  validity of any lien of the Property at its expense, and Owner shall cooperate
  in such contest, including but not limited to allowing such contest to be taken
  and prosecuted in Owner's name, and any such lien shall not be deemed a default
  unless finally adjudicated to be valid and not discharged by Company. 

                     Owner
  shall not cause or allow any liens, encumbrances or adverse claims to accrue
  against the Property, except such as may have been expressly subordinated to
  this Agreement; and in the event any lien or encumbrance shall hereafter accrue
  against the Property by act or neglect of Owner, then Company may at
  Company's option. pay and discharge the same, and if Company elects so to do,
  Company may deduct the amount so paid from any Advance Royalty or Production
  Royalties or other payments hereunder, together with interest thereon from the
  date of payment of said sums at the weighted average of prime rates throughout
  the year (as established by the Bank of America) subject to the application
  of any Nevada usury statute. 

 13.                 Company
  shall have the right at any time to terminate this Agreement. Upon termination
  of this Agreement by Company, all payments theretofore made to Owner shall be
  retained by Owner and all liabilities and obligations of Company to Owner not
  then due or accrued shall cease and terminate, except any liabilities or obligations
  arising prior to the termination of this section. 

                     Upon
  termination of this Agreement Company shall furnish Owner with complete summary
  of the factual information obtained as a result of work done by Company on the
  Property including, but not limited to, logs of all holes drilled thereon, ore
  values encountered, if any, analyses thereof and pertinent maps and surveys
  prepared by Company in the course of such work. Company shall authorize and
  permit Owner to take possession of any available drill core, pulps, chips, or
  cuttings obtained from the Property. Company makes no representation or warranty,
  expressed or implied, as to the accuracy of any information or data made available
  to Owner hereunder or to the fitness or suitability of such information or data
  for any purpose. Company shall assign the State Lease to Owner within 30 days
  of Owner's written request for, and agreement to accept, assignment. The Company
  shall have no obligation to assign the State Lease if no written request for,
  and agreement to accept, assignment is received within the 30 days. In the event
  that this Agreement is terminated and the State Lease assignment is not requested,
  and assignment accepted, in writing by Owner there shall be no surviving override
  or royalties due. 

 14.                 If
  Company defaults in any of its obligations hereunder, Owner may give Company
  written notice thereof and specify the default or defaults relied on. If 

 7 

 Company has not begun to cure such default within a reasonable
  time after receipt of such notice (which shall not, in any case, be less than
  30 days nor more than 90 days), Owner may terminate this Agreement by written
  notice to Company; provided that if Company shall dispute that any default has
  occurred, the matter shall be determined by first submitting the dispute to
  non-binding mediation unless there is mutual agreement to do otherwise. In the
  event non-binding mediation fails, the dispute shall be subject to arbitration
  if mutually agreed to by the parties. In the event arbitration is mutually agreed
  to, the arbitration proceeding shall be done in accordance with the provisions
  of Idaho State Law. The arbitration shall be made within a reasonable time after
  the claimed dispute or other matter in question has arisen and in no event shall
  arbitration be made after the date when institution of legal or equitable proceedings
  based on such claimed dispute or other matter in question would be barred by
  the applicable statute of limitations. In the event non-binding mediation fails
  and arbitration either is not undertaken or fails, the matter shall be addressed
  by litigation in a court of competent jurisdiction, and if it is found to be
  in default hereunder, Company shall have a reasonable time (which in any case
  shall not be less than 60 days nor more than 120 days from receipt by Company
  of notice of entry of final judgment adverse to Company) to cure such default,
  and if so cured, Owner shall have no right to terminate this Agreement by reason
  of such default. However, in the event the claim of default is failure to make
  annual payments when due, Company shall cure such payment default within 10
  days after notice of default is given, or else this Agreement will terminate.

 15.                 The
  terms of this Agreement may be extended or the Agreement terminated in the case
  of an event of force majeure in accordance with the following: 

	 	a.) 	The term of this Agreement shall be extended by any
        event of force majeure, and the obligations of Company under this Agreement,
        except for the payment of money, shall be suspended and Company shall
        not be deemed in default or liable for damages or other remedies while
        Company is prevented from complying therewith by force majeure. For purposes
        of this agreement, force majeure shall include, but not be limited to:
        acts of God; the elements; acts of War, insurrection, riots or terrorism;
        strikes, lockouts and other labor disputes; inability to obtain necessary
        materials or obtain permits, approvals or consents; damage to, destruction
        or unavoidable shutdown of necessary facilities or equipment; acts or
        failures to act on the part of local, state, federal or foreign governmental
        agencies or courts, or of Indian tribes; or any other matters (whether
        or not similar to those mentioned above, and whether foreseeable or unforeseeable)
        beyond Company's reasonable control; provided, however, that settlement
        of strikes, lockouts and other labor disputes shall be entirely within
        the discretion of Company; and provided further that Company shall promptly
        notify other parties to this Agreement and shall exercise reasonable diligence
        in an effort to remove or overcome the cause of 

8

 

	 	 	such inability to comply. 

	 	 	 
	 	b.)	In entering into this Agreement, the parties assume
        that Company's access to the Property is and will continue to be unrestricted.
        Company's reasonable belief that the actions or inactions of any local,
        state or federal governmental agency or court, of any Indian tribe, or
        of any officer or official acting under color of governmental authority,
        might prevent or impede access to the Property, or otherwise limit Company's
        ability to operate thereon, shall be considered an event of force majeure
        for purposes of this Agreement, and shall be referred to as an "access
        force majeure." If an access force majeure occurs, Company shall have
        the right either: 1.) to suspend this Agreement for a period not to exceed
        two years, without payment or penalty, other than the payment of advance
        minimum royalties which are not subject to suspension, while the
        access force majeure is in effect, provided, however, that Company shall
        resume operations on the Property within a reasonable time after access
        to the Property is no longer restricted, and further provided that Company
        shall perform assessment work on the Property during such period of suspension
        to the extent required by Section 6 herein unless Company is prevented
        by such access force majeure from performing such assessment work; or
        2.) to terminate this Agreement, without payment or penalty, if in Company's
        sole discretion the Property shall be inaccessible or otherwise unavailable
        for exploration during the current or subsequent field season. In determining
        "reasonableness," Company shall be under no duty to contest the governmental
        agency or court action or inaction by protest, petition, appeal or any
        other means. 

 16.                 In
  case of termination of this Agreement under the terms hereof or for any cause,
  Company shall have no liability or obligation hereunder except for those, including
  reclamation obligations, already accrued at such date of termination. Upon such
  termination, Company shall surrender the Property to Owner, and upon his request
  shall deliver to him a written instrument in further evidence of such termination,
  in appropriate form for recording. Company shall, upon request, assign the State
  Lease to Owner within 30 days of receiving a written request to do so along
  with a specific agreement to accept assignment. Should assignment transpire,
  all bonds previously placed by Company shall be due Company within a reasonable
  time not to exceed 120 days. 

                     Company
  shall have the right but not the obligation, to remove from the Property all
  property belonging to or installed by it, including but not limited to machinery;
  equipment; buildings; structures; fixtures; ores, waste, and other materials;
  and concentrated products of ores or other materials. However, any property
  not removed within two years from the date of termination, will become 

 9 

 the property of Owner. 

 17.                 Changes
  in the ownership of the Property or the rights to receive royalties hereunder
  occurring after delivery of this Agreement shall not be binding upon Company
  until it shall receive written notice of such change, signed by Owner, together
  with a certified copy or photographic copy of the recorded documents reflecting
  such change. No change or division in the ownership of the Property, mineral
  interests or royalties hereafter accomplished shall operate to enlarge the obligations
  or diminish the rights of Company hereunder. 

 18.                 All
  notices hereunder shall be in writing and maybe delivered by certified mail,
  and such mailing thereof shall be deemed the act of giving of notice. Such mailed
  notices shall be addressed to Owner, in duplicate, as follows: 

  
    
      
         Nevada Contact Inc. 

          5470 Louie Lane, suite 102 Reno, NV 89511 

          Attention: Exploration Manager 

      

    

  

 and to: 

  
    
      
         Sudbury Contact Mines Limited 

          145 King Street East, Suite 500

          Toronto, Ontario, Canada M5C 2Y7 

          Attention: Vice President-Exploration 

      

    

  

 And to Company, in duplicate, as follows: 

  
    
      
         Quincy Resources Incorporated 

          309 Center Street 

          Hancock, MI 49930 

      

    

  

and to:

  
    
      
         Quincy Resources Incorporated

          P. O. Box 357 

          Wylie, TX 75098 

          Attention: Land Department 

      

    

  

 19.                 "Owner"
  as used herein includes the plural, if there are more than one, and reference
  to the Owner in one gender includes the other and the plural when appropriate.

 20.                 Upon
  request, Owner shall execute a Memorandum of Mining Lease and Agreement covering
  the Claims and or the State Lease for purposes of recording. This Agreement
  shall not be recorded without the express written permission of both parties.

 10 

 21.                 The
  rights and obligations of Owner and Company may be freely assigned in whole
  or in part. An assignment of this Agreement, in whole or in part, shall, to
  the extent of such assignment, relieve and discharge Company of its obligations
  hereunder. 

 22.                 This
  agreement shall be construed, interpreted and governed by the laws of the State
  of Idaho. 

                     IN
  WITNESS WHEREOF, the parties have executed this Mining Lease and Agreement as
  of the day and year first above written. 

OWNER:

NEVADA CONTACT INC.

	By:	/s/ Mark J.
      Abrams	 
	 	 	 
	Name:	Mark J. Abrams	 
	 	 	 
	Title:	Exploration
      Manager	 
	 	 	 
	COMPANY:	 
	 	 	 
	QUINCY RESOURCES INC.	 
	 	 	 
	By:	/s/ Dan Farrell	 
	 	 	 
	Name:	Dan Farrell	 
	 	 	 
	Title:	President	 

11Filed by Automated Filing Services Inc. (604) 609-0244 - Quincy Resources, Inc. -  Exhibit 10.21

 MINING LEASE AND AGREEMENT 

                     THIS
  LEASE AND AGREEMENT (the "Agreement"), made this 23rd day of January,
  2004 by and between PACIFIC INTERMOUNTAIN GOLD CORPORATION., a Nevada corporation
  (hereinafter called "Owner") and QUINCY RESOURCES INCORPORATED, a Nevada corporation,
  (hereinafter called "Company"): W I T N E S S E T H: 

                     1.                    Owner
  represents that subject to the paramount title of the United States, he is the
  sole and only owner of the unpatented mining claims, situated in Esmeralda County,
  Nevada, described on Exhibit A attached hereto and incorporated herein (hereinafter
  referred to as the " Claims") and shall hereinafter be referred to as the "Property";
  that each of the unpatented claims included in the Claims has been validly located,
  filed and recorded in compliance with the laws of the State of Nevada and of
  the United States as they relate to location and recordation of such claims;
  that Owner has timely complied with all of the filing provisions of the Federal
  Land Policy and Management Act (43 U.S.C. Section 1701, et seq.) as they pertain
  to the unpatented claims included within the Claims and that said claims are
  valid and subsisting mining claims; that Owner has performed assessment work
  upon said claims through the assessment year ended September 1, 2004, and has
  recorded and filed proof thereof, all of which work, recordings and filings
  have been completed in accordance with the applicable state and federal statutes
  pertaining to assessment work; that Owner has fully and timely paid the holding
  fees, if any, required to maintain the unpatented mining claims to the date
  of this Agreement; that Owner's rights in the Property are not subject to any
  prior agreement, encumbrance, burden or restriction created by any act or instrument
  of Owner; that to the best of Owner's knowledge, the Property is free from liens
  and encumbrances and other adverse claims by third parties; and that the Property
  is not burdened with any royalties, overriding royalties, net profits interests
  or payments on production. 

                     2.                    Owner
  hereby grants, lets and leases exclusively to Company the Claims, for the term
  hereof, together with all ores and minerals of every kind, except oil and gas,
  in, on or under the Property, with the exclusive right to prospect and explore
  for, mine by any method now known or hereafter discovered (including, but not
  limited to, underground, open pit, in-situ and solution methods), process by
  any method now known or hereafter discovered, mill, prepare for market, store,
  sell and dispose of the same; and together with all such rights-of-way, easements,
  water and water rights, geothermal water and geothermal resources, of every
  kind and nature, through, over, on or appertaining to the Claims, and the right
  to erect, maintain and operate thereon and therein, buildings, structures, machinery
  and equipment, and the right to use, occupy and disturb so much of the surface
  of the Claims as Company may determine to be useful, desirable or convenient
  for the exercise by Company of any and all of its rights hereunder, and the
  right in its sole discretion to exercise any rights or options of Owner with
  respect to the Claims or any portion thereof under any law or regulation hereafter
  enacted, including but not limited to the right to convert any or all of the
  unpatented claims included in the Claims and the other rights described in Section
  6 herein. In the event Owner acquires any additional rights, titles or interests
  in the Claims after the execution of this Agreement, all such additional rights,
  titles and interests shall be subject to this Agreement. 

1

                     3.                    If
  Owner's title is less than as stated in Section 1 hereof or is subject to a
  superior adverse interest, all payments, including Advance Royalty and Production
  Royalty payments, without limitation, to be made to Owner hereunder shall be
  reduced to the same proportion thereof as the undivided interest in the Property
  solely owned by Owner bears to the entire interest in the Claims or State Lease.

                     Company
  shall have sole discretion to determine the extent of its work, if any, on the
  Property and the time or times for beginning, continuing or resuming such work
  thereon. All activities carried out by Company under this Agreement shall conform
  with the laws and regulations of the State of Nevada and the United States.

                     Company
  shall indemnify and hold harmless Owner from all liability, including attorneys
  fees and costs, arising out of Company’s exploration and Company’s
  other activities hereunder, including but not limited to environmental and reclamation
  liabilities under existing and future laws and regulations. The indemnity set
  forth herein shall survive termination or expiration of this Agreement. 

                     Owner
  shall indemnify and hold harmless Company, its officers, directors, shareholders,
  employees and affiliates from any and all claims, demands and liabilities whatsoever
  arising from or in connection with Owner’s operations or activities upon
  the Property which were conducted prior to the date of this Agreement, and conducted
  subsequent to the termination of this agreement, including, without
  limitation, surface and underground disturbances (including, but not limited
  to, underground workings, waste dumps, tailings, roads, drill holes and drill
  pads) and reclamation obligations. The indemnity set forth herein shall survive
  termination or expiration of this Agreement. 

                     4.                    The
  term of this Agreement shall begin with the date hereof and shall continue to
  and until the fifteenth anniversary of such date and so long thereafter as Company
  continues to make advance royalty or production royalty payments, but subject
  to earlier termination as provided in this Agreement. After termination of this
  Agreement, Company shall have the right of ingress and egress from the Property
  and the right to complete such reclamation and restoration of the Property and
  to make such inspections as may be required by law, for so long after termination
  of this Agreement as is necessary to complete all such reclamation, restoration
  and inspections. Nothing in this paragraph shall require Owner to maintain any
  of the Property beyond the term of this lease. 

2

                     5.                    Unless
  and until this Agreement is sooner terminated, Company shall pay Owner Advance
  Royalty payments in accordance with the following schedule: 

	 	Advance Royalty Payment	Payable on or before
	 	$5,000	On execution
	 	$7,500	January 23, 2005
	 	$10,000	January 23, 2006
	 	$15,000	Januray 23, 2007
	 	$30,000	January 23, 2008
	 	$50,000	January 23, 2009 and every
	 	 	Januray 23rd thereafter.

                     All
  Advance Royalty payments payable to Owner pursuant to this paragraph shall be
  credited to and recoverable from Production Royalty payments payable by Company
  to Owner. Said right of recovery shall apply to the first such Production Royalty
  payments accruing and shall continue thereafter until Company has recovered
  the full amount of previously paid Advance Royalty payments. All Advance Royalty
  payments accruing subsequent to the first Production Royalty payment shall be
  recovered and deducted in a like manner from Production Royalty payments thereafter
  accruing. 

                     Company
  shall pay to Owner a Sliding Scale net smelter return (NSR) as Production Royalty
  on any Production from the Claims based on the price of gold as follows: 

	 	NSR%	Gold Price
	 	2.0	up to 300.00 per ounce
	 	3.0	300.00-399.99 per ounce
	 	4.0	400.00-499.99 per ounce
	 	5.0	500.00 or more per ounce.

                     Net
  smelter returns shall be calculated for each calendar quarter in which net smelter
  returns are realized, and such royalty payments as are due Owner hereunder shall
  be made within thirty (30) days following the end of the calendar quarter in
  which the net smelter returns were realized. The gold price used to calculate
  the payable NSR percentage shall be the average London P. M. fix for the ninety
  (90) business days immediately preceeding the end of the calendar quarter in
  which the net smelter returns were realized. Such payments shall be accompanied
  by a statement summarizing the computation of net smelter returns. 

                     Quarterly
  royalty payments will be provisional and subject to adjustment at the end of
  Company’s accounting year. If no written objection is made by Owner to
  the correctness of a royalty payment or its accompanying statement within 120
  days from the date of such payment, such statement shall be conclusively deemed
  to be correct and such royalty payment sufficient and complete, and no exception
  or claim for adjustment shall thereafter be permitted. 

                     The
  term "net smelter returns" as used herein shall mean the net proceeds received
  by Company from the sale of minerals from the Property after deductions for
  all of the following: 

3

 

	 	(i)	Custom smelting costs, treatment charges
        and penalties including, but without being limited to, metal losses, penalties
        for impurities and charges or deductions for refining, selling, and transportation
        from smelter to refinery and from refinery to market; provided, however,
        in the case of leaching operations, all processing and recovery costs
        incurred by Company beyond the point at which the metal being treated
        is in solution shall be considered as treatment charges (it being agreed
        and understood, however, that such processing and recovery costs shall
        not include the cost of mining, crushing, dump preparation, distribution
        of leach solutions or other mining and preparation costs up to the point
        at which the metal goes into solution);

	 	 	 
	 	(ii)	Cost of transporting mineral product
        from the concentrator to a smelter or other place of treatment.

                     All
  payments and royalties payable hereunder may be made by Company's check, and
  delivery thereof shall be deemed completed on the mailing thereof to Owner.

                     6.                    If
  required by state or federal law, Company shall perform annual labor or assessment
  work for the benefit of the Claims, pay any maintenance, rental, holding fee
  or other payment required to maintain the Claims, or both, for every assessment
  year thereafter in which Company continues this Agreement beyond July 15th
  of the assessment year. If any such law permits the performance of assessment
  work or annual labor in lieu of making all or a portion of any such payment,
  Company shall determine whether to make such payment, perform such work or labor,
  or both. If required by state or federal law, Company shall pay any location
  fee or payment required to relocate any unpatented mining claim or mill site
  included in the Property that Company determines under Section 7 should be relocated.
  For each assessment year in which Company performs annual labor or assessment
  work or makes any such payment, it shall record or file any affidavit or statement
  of such compliance required by federal or state law. 

                     Company
  shall have the benefit of all laws now or hereafter enacted which relate to
  annual labor or assessment work or any payment required by this Section, including
  any laws extending the time within which to comply with such requirements, suspending
  such requirements, or exempting the Claims from such requirements, so that Company’s
  obligations under this Section are limited to compliance with state and federal
  laws regarding such requirements in effect from time to time 

4

 during the term of this Agreement. Company shall be relieved
  of its work or labor obligations under this Section for any period in which
  Company’s access to the Claims is impeded by access force majeure under
  Section 14. 

                     7.                    Upon
  request, Owner shall make available such abstracts of title and other title
  records pertaining to the Property which he may have to aid Company in any title
  searching it may wish to undertake. Company may, but shall have no obligation
  to, investigate and cure as it sees fit any defects in title to the Property
  which Owner fails to remedy after notice by Company. Owner shall cooperate fully
  with Company in the curing of any such title defect, and Company shall reimburse
  Owner for Owner's actual expenses resulting from its cooperation in this effort.

                     Company
  may, but shall have no obligation to, investigate and cure as it sees fit any
  defects in the title, location, recordation or filing of the unpatented mining
  claims comprising the Claims, and Owner shall cooperate fully with the curing
  of said deficiencies at the expense of Company. Additionally, Owner authorizes
  Company, at its discretion, to relocate, amend, restake, refile and rerecord
  any particular mining claim or claims in the Claims or documents associated
  therewith. Where required for restaking or relocation, Owner shall execute notices
  of abandonment of mining claims, and, in turn, Company agrees that any relocation,
  restaking or location of fractions within the perimeter of the claim block shall
  be accomplished in Owner's name. If Company or Owner locates any unpatented
  mining claim or claims wholly or partially within the Area of Interest which
  is described on Exhibit B attached hereto and incorporated herein, such claims
  shall be added to the Property, and shall be subject to this Agreement. Company
  and Owner agree that neither Company nor owner are under any obligation to locate
  such claims. 

                     Owner
  shall apply for a patent for any of the unpatented mining claims upon the request
  of Company. All expenses authorized by Company in connection with prosecuting
  patent proceedings shall be borne by Company; and the rights of Company under
  this Agreement shall extend to any patented mining claims Owner receives by
  virtue of such patent proceedings, and to any amended location and relocation
  of the unpatented claims. 

                     Company
  and Owner recognize that legislation to amend the mining laws of the United
  States or the state of Nevada may be enacted during the term of this Agreement
  and that any such legislation, if enacted, will likely contain provisions affecting
  owners or holders of existing unpatented mining claims, including but not limited
  to provisions (i) permitting or requiring conversion of existing unpatented
  claims to a new type of mining claim or interest, (ii) permitting or requiring
  owners or holders of existing mining claims to comply with some or all of the
  requirements of such amended mining laws, or (iii) permitting or requiring owners
  or holders of existing mining claims to commence patent proceedings within a
  specified period of time ("Claim Holder Rights"). For all purposes of this Agreement,
  Owner grants to Company all Claim Holder Rights now or hereafter vested in Owner,
  whether contained in federal legislation, regulations promulgated thereunder
  or similar state laws or regulations, together with Owner's rights to enforce
  any existing rights to the Property or any Claim Holder Rights against any third
  party, or to litigate or contest any such existing rights or Claim Holder Rights
  before any court or administrative agency. Company may, but shall have no obligation
  to, exercise such rights as to any, all or none of the mining claims included
  in the Claims, at any time and from time to time, in Company's sole discretion.
  Owner shall cooperate in Company's exercise of such rights, including without
  limitation by executing required forms or documents, participating in any action
  or proceeding relating to such rights or allowing any such action or proceeding
  to be taken or prosecuted in Owner's name. 

5

                     If
  the United States or any third party attacks the validity of the mining claims
  included in the Claims, Company may, but shall have no obligation to, defend
  their validity. 

                     8.                    Without
  limiting the generality of the rights granted in Section 2 above, Owner hereby
  grants Company the right to mine or remove from the Property any ores, waste,
  water or other materials existing therein or thereon, through or by means of
  shafts or openings which may be sunk or made upon adjoining or nearby property
  controlled by Company, and may stockpile any ores, waste or other materials
  and/or concentrated products of ores or materials from the Property upon stockpile
  grounds situated upon any such adjoining or nearby property; and Company may
  use the Property and any part thereof and any shafts, openings, and stockpile
  grounds, sunk or made thereon for the mining, removal and/or stockpiling of
  any ores, waste, water and other materials and/or concentrated products of ores
  or materials from any such adjoining or nearby property, or for any purpose
  or purposes connected therewith. 

                     Company
  may commingle ore from the Property with ore from other properties, either before
  or after concentration or beneficiation, so long as the data to determine the
  weight and assay, both of the ore removed from the Property and of other ores
  to be commingled, are obtained by Company. Company shall use that weight and
  assay data to allocate the royalties from the commingled ore between the Property
  and other properties from which the other commingled ore was removed. All such
  weight, assay and allocation calculations by Company shall be done in a manner
  recognized by the mining industry as practical and sufficient. 

                     9.                    Company's
  records of all mining operations on the Property pertinent to computation of
  royalties shall be available for Owner's inspection upon reasonable advance
  notice and during normal business hours, but no more than once each quarter.
  Owner shall keep records in sufficient detail as may be necessary to determine
  the amount of royalty due from the Claims. Owner may enter the mine workings
  and structures on the Property at all reasonable times upon reasonable advance
  notice for inspection thereof, but Owner shall so enter at his own risk and
  shall indemnify and hold Company harmless against and from any damage, loss
  or liability by reason of injury to Owner or his agents or representatives or
  damage to or destruction of any property of Owner or said agents or representatives
  while on the Property on or in said mine workings and structures. 

                     10.                   Company
  shall pay all taxes assessed against any personal property which it may place
  on the Property and shall pay any taxes or increase in taxes assessed against
  the Property due to its operations thereon. Owner shall provide promptly to
  Company copies of all documents relating to such taxes or increase in taxes.
  Company may take such action, at its expense, as it deems proper to obtain a
  reduction or refund of taxes paid or payable by it, and Owner shall cooperate
  in such action, including but not limited to allowing such action to be taken
  and prosecuted in Owner's name. Owner shall pay all other taxes assessed against
  the Property, including all taxes assessed or payable at the time of the execution
  of this Agreement. 

                     11.                   Company
  shall keep the Property free of all liens for labor or materials furnished to
  it in its operations hereunder and shall indemnify and save harmless Owner against
  and from any damage, loss or liability by reason of injury to person or damage
  to property as the result of its operations hereunder, except as provided in
  Section 9 above. Company may, but shall have no obligation to, contest the validity
  of any lien of the Property at its expense, and Owner shall 

6

 cooperate in such contest, including but not limited to allowing
  such contest to be taken and prosecuted in Owner's name, and any such lien shall
  not be deemed a default unless finally adjudicated to be valid and not discharged
  by Company. 

                     Owner
  shall not cause or allow any liens, encumbrances or adverse claims to accrue
  against the Property, except such as may have been expressly subordinated to
  this Agreement; and in the event any lien or encumbrance shall hereafter accrue
  against the Property by act or neglect of Owner, then Company may, at Company's
  option, pay and discharge the same, and if Company elects so to do, Company
  may deduct the amount so paid from any Advance Royalty or Production Royalties
  or other payments hereunder, together with interest thereon from the date of
  payment of said sums at the weighted average of prime rates throughout the year
  (as established by the Bank of America) subject to the application of any Nevada
  usury statute. 

                     12.                   Company
  shall have the right at any time to terminate this Agreement. Upon termination
  of this Agreement by Company, all payments theretofore made to Owner shall be
  retained by Owner and all liabilities and obligations of Company to Owner not
  then due or accrued shall cease and terminate, except any liabilities or obligations
  arising prior to the termination of this section. 

                     Upon
  termination of this Agreement Company shall furnish Owner with a complete summary
  of the factual information obtained as a result of work done by Company on the
  Property including, but not limited to, logs of all holes drilled thereon, ore
  values encountered, if any, analyses thereof and pertinent maps and surveys
  prepared by Company in the course of such work. Company shall authorize and
  permit Owner to take possession of any available drill core, pulps, chips, or
  cuttings obtained from the Property. Company makes no representation or warranty,
  expressed or implied, as to the accuracy of any information or data made available
  to Owner hereunder or to the fitness or suitability of such information or data
  for any purpose. 

                     13.                   If
  Company defaults in any of its obligations hereunder, Owner may give Company
  written notice thereof and specify the default or defaults relied on. If Company
  has not begun to cure such default within a reasonable time after receipt of
  such notice (which shall not, in any case, be less than 30 days nor more than
  90 days), Owner may terminate this Agreement by written notice to Company; provided
  that if Company shall dispute that any default has occurred, the matter shall
  be determined by first submitting the dispute to non-binding mediation unless
  there is mutual agreement to do otherwise. In the event non-binding mediation
  fails, the dispute shall be subject to arbitration if mutually agreed to by
  the parties. In the event arbitration is mutually agreed to, the arbitration
  proceeding shall be done in accordance with the provisions of Nevada State Law.
  The arbitration shall be made within a reasonable time after the claimed dispute
  or other matter in question has arisen and in no event shall arbitration be
  made after the date when institution of legal or equitable proceedings based
  on such claimed dispute or other matter in question would be barred by the applicable
  statute of limitations. In the event non-binding mediation fails and arbitration
  either is not undertaken or fails, the matter shall be addressed by litigation
  in a court of competent jurisdiction, and if it is found to be in default hereunder,
  Company shall have a reasonable time (which in any case shall not be less than
  60 days nor more than 120 days from receipt by Company of notice of entry of
  final judgement adverse to Company) to cure such default, and if so cured, Owner
  shall have no right to terminate this Agreement by reason of such default. However,
  in the event the claim of 

7

 default is failure to make annual payments when due, Company
  shall cure such payment default within 10 days after notice of default is given,
  or else this Agreement will terminate. 

                     14.                   The
  terms of this Agreement may be extended or the Agreement terminated in the case
  of an event of force majeure in accordance with the following: a.) The term
  of this Agreement shall be extended by any event of force majeure, and the obligations
  of Company under this Agreement, except for the payment of money, shall be suspended
  and Company shall not be deemed in default or liable for damages or other remedies
  while Company is prevented from complying therewith by force majeure. For purposes
  of this agreement, force majeure shall include, but not be limited to: acts
  of God; the elements; acts of War, insurrection, riots or terrorism; strikes,
  lockouts and other labor disputes; inability to obtain necessary materials or
  obtain permits, approvals or consents; damage to, destruction or unavoidable
  shutdown of necessary facilities or equipment; acts or failures to act on the
  part of local, state, federal or foreign governmental agencies or courts, or
  of Indian tribes; or any other matters (whether or not similar to those mentioned
  above, and whether foreseeable or unforeseeable) beyond Company's reasonable
  control; provided, however, that settlement of strikes, lockouts and other labor
  disputes shall be entirely within the discretion of Company; and provided further
  that Company shall promptly notify other parties to this Agreement and shall
  exercise reasonable diligence in an effort to remove or overcome the cause of
  such inability to comply. b.) In entering into this Agreement, the parties assume
  that Company's access to the Property is and will continue to be unrestricted.
  Company's reasonable belief that the actions or inactions of any local, state
  or federal governmental agency or court, of any Indian tribe, or of any officer
  or official acting under color of governmental authority, might prevent or impede
  access to the Property, or otherwise limit Company's ability to operate thereon,
  shall be considered an event of force majeure for purposes of this Agreement,
  and shall be referred to as an "access force majeure." If an access force majeure
  occurs, Company shall have the right either: 1.) to suspend this Agreement for
  a period not to exceed two years, without payment or penalty, other than the
  payment of advance minimum royalties which are not subject to suspension, while
  the access force majeure is in effect, provided, however, that Company shall
  resume operations on the Property within a reasonable time after access to the
  Property is no longer restricted, and further provided that Company shall perform
  assessment work on the Property during such period of suspension to the extent
  required by Section 6 herein unless Company is prevented by such access force
  majeure from performing such assessment work; or 2.) to terminate this Agreement,
  without payment or penalty, if in Company's sole discretion the Property shall
  be inaccessible or otherwise unavailable for exploration during the current
  or subsequent field season. In determining "reasonableness," Company shall be
  under no duty to contest the governmental agency or court action or inaction
  by protest, petition, appeal or any other means. 

                     15.                   In
  case of termination of this Agreement under the terms hereof or for any cause,
  Company shall have no liability or obligation hereunder except for those, including
  reclamation obligations, already accrued at such date of termination. Upon such
  termination, Company shall surrender the Property to Owner, and upon his request
  shall deliver to him a written instrument in further evidence of such termination,
  in appropriate form for recording. 

8

                     Company
  shall have the right but not the obligation, to remove from the Property all
  property belonging to or installed by it, including but not limited to machinery;
  equipment; buildings; structures; fixtures; ores, waste, and other materials;
  and concentrated products of ores or other materials. However, any property
  not removed within two years from the date of termination, will become the property
  of Owner. 

                     16.                   Changes
  in the ownership of the Property or the rights to receive royalties hereunder
  occurring after delivery of this Agreement shall not be binding upon Company
  until it shall receive written notice of such change, signed by Owner, together
  with a certified copy or photographic copy of the recorded documents reflecting
  such change. No change or division in the ownership of the Property, mineral
  interests or royalties hereafter accomplished shall operate to enlarge the obligations
  or diminish the rights of Company hereunder. 

                     17.                   All
  notices hereunder shall be in writing and may be delivered by certified mail,
  and such mailing thereof shall be deemed the act of giving of notice. Such mailed
  notices shall be addressed to Owner, in duplicate, as follows: 

  
    
       Pacific Intermountain Gold Corporation.

        P. O. Box 357 

        Wylie, TX 75098 

        Attention: Exploration Manager 

    

  

and to:

  
    
       Seabridge Gold Corporation

        172 King Street East, Third Floor 

        Toronto, Ontario, Canada M5A 1J3 

        Attention: Rudi P. Fronk 

    

  

And to Company, in duplicate, as follows:

  
    
       Quincy Resources Incorporated 

        309 Center Street 

        Hancock, MI 49930 

    

  

                     18.                   "Owner"
  as used herein includes the plural, if there are more than one, and reference
  to the Owner in one gender includes the other and the plural when appropriate.

                     19.                   Upon
  request, Owner shall execute a Memorandum of Mining Lease and Agreement covering
  the Claims and or the State Lease for purposes of recording. This Agreement
  shall not be recorded without the express written permission of both parties.

9

                     20.                   The
  rights and obligations of Owner and Company may be freely assigned in whole
  or in part. An assignment of this Agreement, in whole or in part, shall, to
  the extent of such assignment, relieve and discharge Company of its obligations
  hereunder. 

                     21.                   This
  agreement shall be construed, interpreted and governed by the laws of the State
  of Nevada. 

                     IN
  WITNESS WHEREOF, the parties have executed this Mining Lease and Agreement as
  of the day and year first above written. 

OWNER:

PACIFIC INTERMOUNTAIN GOLD CORPORATION

	By:	/s/ William
      M. Sheriff	 
	 	 	 
	Name:	William M. Sheriff	 
	 	 	 
	Title:	President	 
	 	 	 
	COMPANY:	 
	 	 	 
	QUINCY RESOURCES INC.	 
	 	 	 
	By:	/s/ Dan Farrell	 
	 	 	 
	Name:	Dan Farrell	 
	 	 	 
	Title:	President	 

10

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