Document:

Exhibit
10.2

 

EXECUTIVE
CONSULTING AGREEMENT

 

THIS
EXECUTIVE CONSULTING AGREEMENT (the “Agreement”), is made and entered into effective as of May 1, 2021 (the “Effective
Date”), by and between Star Gold Corp., a Nevada corporation with a principal business address of 1875 N. Lakewood Drive, Suite
200, Coeur d’Alene, Idaho 83814 (the “Company”) and David Segelov (the
“Executive”). The Company and Executive are referred to below individually as a “Party”
and collectively as the “Parties”.

 

RECITALS

 

WHEREAS,
the Executive is currently engaged by the Company; and

 

WHEREAS,
the Company desires to continue to engage the Executive in his current capacity as an independent contractor and to enter into an agreement
embodying the terms of such engagement; and

 

WHEREAS,
the Executive desires to accept such continuation of engagement and to enter into an agreement, subject to the terms and conditions of
this Agreement.

 

NOW
THEREFORE, in consideration of the premises and of the respective covenants and agreements of the Parties herein contained, and of other
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties, intending legally to be bound,
hereby agree as follows:

 

AGREEMENT

 

		1.	Defined
Terms. Unless otherwise defined herein, capitalized terms used in this Agreement shall have the following meanings:

 

		1.1	“Board”
means the Board of Directors of the Company.

 

		1.2	“Cause”
means any or all of the following:

 

		a)	termination
of the Executive at, or immediately following, the consummation of a Change in Control.

 

		b)	any
material breach by the Executive of his obligations under this Agreement, if the Company provided the Executive with written notice of
such Cause and the Executive failed to remedy the situation to the reasonable satisfaction of the Company within thirty (30) days of
the date of such notice;

 

		c)	Executive’s
conviction of, or plea of guilty to, any felony charge, or of any crime involving moral turpitude, fraud or misrepresentation;

 

		d)	intentional
fraud, misrepresentation, or embezzlement by the Executive during this engagement; and/or

 

		e)	any
material neglect, inability, refusal or failure of the Executive to perform his duties as an executive of the Company, if the Company
provided the Executive with written notice of such Cause and the Executive failed to remedy the situation to the reasonable satisfaction
of the Company within thirty (30) days of the date of such notice;

 

		f)	permanent
disability;

 

		g)	death.

     

     

    

		1.3	“Duties”
means those duties set forth on Appendix A hereto and amended from time to time upon mutual agreement of the Company and the Executive.

 

		1.4	“Change
in Control” means (i) the acquisition of the Company by another entity by means of any transaction or series of related transactions
(including, without limitation, any reorganization, merger or consolidation or equity transfer, but excluding any such transaction effected
primarily for the purpose of changing the domicile of the Company), unless the Company’s equity holders of record immediately prior
to such transaction or series of related transactions hold, immediately after such transaction or series of related transactions, at
least 50% of the voting power of the surviving or acquiring entity (provided that the sale by the Company of its securities for the purposes
of raising additional funds shall not constitute a Change of Control hereunder); or (ii) a sale of all or substantially all of the assets
of the Company.

 

		1.5	“Good
Reason” means any or all of the following:

 

		a)	any
action that results in a material diminution in Executive’s position, authority, duties, or responsibilities, excluding for this
purpose an isolated or inadvertent action not taken in bad faith;

 

		b)	a
reduction, without cause and without the Executive’s written consent, by the Company in the Executive’s base compensation as
increased from time to time after the Effective Date hereof;

 

		c)	a
material breach by the Company of its obligations under this Agreement, if the Executive provided the Company with written notice of
such Good Reason and the Company failed to remedy the situation within thirty (30) days of the date of such notice; and/or

 

		d)	It
is the intent of the Company that a termination of service for Good Reason will meet the definition of “involuntary separation”
set forth in Treasury Regulation Section 1.409A-1(n), and this Agreement will be interpreted accordingly.

 

		1.6	“Permanent
Disability” means, with respect to the Executive, that the Executive has become physically or mentally incapacitated or disabled
so that, in the reasonable judgment of the Board, he is unable to perform the essential functions of his position under this Agreement,
with or without reasonable accommodation, and such condition has continued for at least six consecutive calendar months or for 180 working
days in any 12 month period.

 

		2.	Engagement
                                         of Executive. As of the Effective Date, the Company hereby engages the Executive
                                         in a management capacity for the period specified in Section 3 hereof, and the Executive
                                         accepts such engagement, on the terms and subject to the conditions set forth in this
                                         Agreement. The Executive’s primary place of service will be in metropolitan New
                                         York City (the “Area”). The Executive may be required to travel in the
                                         performance of his duties hereunder, but he shall not be required to relocate.

 

		3.	Term.
                                         Except as otherwise provided in Section 6 hereof, the term of engagement hereunder shall
                                         be for a two (2) year period beginning on the Effective Date (the “Engagement
                                         Period”), with such engagement being automatically renewed, annually, on each
                                         anniversary of the Effective Date, following the Engagement Period, unless either Party
                                         gives the other Party written notice, at least one hundred twenty (120) days in advance
                                         of the anniversary of the Effective Date.

     

     

    

		4.	Outside
Services. The Executive acknowledges he is serving as an executive officer of the Company, and as such covenants and agrees
that he will not engage in any other business activity, for his own account or for or on behalf of any other person, firm or corporation,
which would hinder his ability to perform his obligations as the President of the Company. The Executive shall not be considered
a full-time employee and shall be able to be compensated for unrelated work except where there is an actual conflict which interferes
with the duties outlined in Appendix A. In the event of any such actual conflict, Executive may seek permission from the Board
of Directors to engage in such conflicting activities, which such permission may be denied at the sole discretion of the Board.

 

		5.	Compensation
and General Benefits. The Executive shall be compensated for his services under this Agreement as follows:

 

		5.1	Compensation.
During the Engagement Period, the Company shall pay the Executive a base compensation equal to six thousand and no/100 dollars ($6,000.00)
per month.

 

		5.2	Equity
Compensation Plans. The Executive will be eligible for participation in such bonus, stock purchase, incentive and performance award
programs which are available to other executives, consultants, directors and employees of the Company.

 

		5.3	Change
in Control. In the event of a Change in Control, Executive (or Executive’s spouse or estate, should Executive die prior to payment
pursuant to this Section 6.3), shall receive a one-time bonus equal to eighteen (18) months’ base compensation.

 

		5.4	Performance
Bonuses and Incentive Compensation. Executive may receive performance bonuses and other incentive compensation based upon the recommendations
and approval, and subject to the sole discretion, of the Board of Directors.

 

		5.5	Business
Expenses. During the Engagement Period, the Company shall pay or reimburse the Executive for all reasonable business expenses incurred
by Executive, including but not limited to travel and entertainment expenses, in accordance with the policies of the Company applicable
to executive officers. The Executive shall maintain and provide the Company with records of such expenses in accordance with the rules
and regulations promulgated by the Company. Upon termination, amounts owing to Executive for expense reimbursement will be paid immediately
by Company in accordance with the severance provisions in Section 9.

 

		5.6	D&O
Coverage. At all times during the Engagement, Executive shall be covered by Company’s Directors and Officers insurance policy,
which shall be maintained in the ordinary course of business consistent with the past practices of the Company.

 

		5.7	Taxes.
Executive, as an independent contractor, shall be responsible for payment of any and all required federal, state or local government
withholdings, deductions for taxes or similar charges with respect to any actual or constructive payment or compensation to the Executive
under this Agreement.

 

		5.8	No
Other Payments. The compensation payable to the Executive pursuant to this Agreement will be in consideration for all services rendered
by the Executive under this Agreement, and the Executive will receive no other compensation for any service provided to the Company,
unless the Company in its sole discretion otherwise determines.

 

		6.	Termination
of Engagement. The engagement of the Executive under this Agreement will terminate on the earliest of:

 

		6.1	Non-renewal
as set forth in Section 3 above.

     

     

    

		6.2	Termination
by the Company Without Cause. The 30th calendar day after the Company gives the Executive written notice of termination without Cause.

 

		6.3	Termination
by the Company With Cause. If an event or circumstance within the definition of Cause occurs, immediately after the Company gives
the Executive written notice of termination for Cause.

 

		6.4	Termination
by the Executive For Good Reason. If an event or circumstance within the definition of Good Reason occurs, immediately after the
Executive gives the Company written notice of termination for Good Reason.

 

		6.5	Termination
by the Executive Without Good Reason. The 30th calendar day after the Executive gives the Company written notice of termination of
his engagement without Good Reason.

 

		7.	Notice
of Termination. Any notice of termination of the Executive’s engagement under this Agreement shall be communicated in writing
and delivered to the other Party as provided in Section 15 and shall specify the termination provision relied upon by the party giving
such notice. The Executive shall have a reasonable opportunity to be heard by the Board prior to any termination for a “Cause”
described in (b), (d) or (e) of the definition of “Cause”.

 

		8.	Termination
of Corporate Office. In the event that the engagement of Executive is terminated for any reason and Executive, at the time of such
termination, holds office as an officer of the Company, such office shall terminate and Executive shall be deemed to have resigned the
same automatically and without notice as of the effective date of the termination of engagement.

 

		9.	Severance
Conditions Upon Termination of Engagement Relationship. The engagement shall be subject to the following conditions:

 

		9.1	Termination
by the Company Without Cause or by the Executive for Good Reason. If the Company terminates Executive’s engagement without Cause,
or the Executive terminates engagement for Good Reason, the Company shall:

 

Pay
Executive (or Executive’s spouse or estate, should Executive die after termination), a severance benefit equal to twelve (12) months’
base compensation, plus any non-equity performance bonus earned in the twelve (12) months preceding his termination;

 

		9.2	Termination
by the Company With Cause or by the Executive Without Good Reason. If the Company terminates the Executive’s engagement for
Cause or the Executive terminates his engagement without Good Reason, then

 

		(a)	the
Company shall pay to the Executive, on the date of termination of engagement, the Executive’s salary and earned bonus and
unreimbursed business expenses up to the date of termination of engagement, and

 

		(b)	the
Executive shall not receive any severance pay.

     

     

    

		10.	Conditions
to Receipt of Severance.

 

		10.1	Separation
Agreement and Release of Claims. The receipt of any severance pursuant to Section 9 will be subject to Executive signing,
not revoking and complying with a separation agreement and release of claims in a form reasonably satisfactory to the Executive
and the Company. No severance pursuant to such section will be paid or provided until the separation agreement and release agreement
becomes effective.

 

		10.2	Section
409A. If the Company reasonably determines that the imposition of additional tax under Section 409A of the Internal Revenue Code
of 1986, as amended, will apply to the payment of any cash severance payments otherwise due to Executive pursuant to Section 9, then
notwithstanding anything to the contrary in this Agreement, any cash severance payments otherwise due to Executive pursuant to Section
9 or otherwise on or within the six-month period following Executive’s termination will accrue during such six-month period and
will become payable in a lump sum payment on the date six (6) months and one (1) day following the date of Executive’s termination.
In addition, this Agreement will be deemed amended to the extent necessary to avoid imposition of any additional tax or income recognition
prior to actual payment to Executive under Code Section 409A and any temporary, proposed or final Treasury Regulations and guidance promulgated
thereunder and the parties agree to cooperate with each other and to take reasonably necessary steps in this regard.

 

		11.	Confidentiality
and Non-Competition Provisions.

 

		11.1	Confidentiality.
The Executive acknowledges that he will be making use of, acquiring, and/or adding to Confidential Information of the Company of a special
and unique nature and value. The Executive covenants and agrees that he shall keep and maintain such Confidential Information strictly
confidential and shall not, anywhere in the world, at any time, directly or indirectly, for himself, or on behalf of any person, firm,
partnership or corporation, or otherwise, except as otherwise directed by the Company, or necessary to perform his obligations under
this Agreement, divulge or disclose for any purpose whatsoever, any Confidential Information that has been obtained by, or disclosed
to, him as a result of his relationship with the Company. This Agreement specifically prohibits the Executive from disclosing to any
person, firm, partnership or corporation or otherwise, trade secrets or other Confidential Information relating to the business of the
Company. “Confidential Information” as used herein shall mean any and all information regarding or relating to the business
affairs of the Company, including without limitation any and all financial, technical, trade secret, and any other proprietary or confidential
information (written or oral); provided however, “Confidential Information” shall not include information which (i) was or
becomes generally available to the public other than as a result of a disclosure by the Executive in violation of this Agreement; (ii)
was or is developed by the Executive independently of and without reference to any Confidential Information; or (iii) was, is or becomes
available to the Executive on a non-confidential basis from a third party who is not prohibited from transmitting such information by
a contractual, legal or fiduciary duty.

 

		11.2	Disclosure
of Confidential Information. In the event that the Executive is requested or becomes legally compelled (by oral questions,
interrogatories, requests for information or documents, subpoenas, civil investigative demand or similar process) to make any
disclosure which is prohibited or otherwise constrained by this Section 11, the Executive agrees that he will provide the Company
with prompt notice of such request so that the Company may seek an appropriate protective order or other appropriate remedy and/or
waive the Executive’s compliance with the provisions of this Section 11. In the event that such protective order or other
remedy is not obtained, or the Company grants a waiver hereunder, the Executive may furnish that portion (and only that portion)
of the information which the Executive is legally compelled to disclose or else stand liable for contempt or suffer other censure
or penalty; provided, however, that the Executive shall use his reasonable efforts to obtain reliable assurance that confidential
treatment will be accorded any information so disclosed. The Company may obtain temporary, preliminary or permanent restraining
orders, decrees or injunctions as may be necessary to protect the Company against, or on account of, any actual or threatened
violation of this Section 11.

     

     

    

		11.3	Interference
with Business. As a material inducement to the Company to enter into this Agreement, the Executive agrees that for a period of one
year beyond the date of Executive’s termination from engagement for whatever reason, the Executive shall not, directly or indirectly,
for himself or on behalf of any person, firm, partnership or corporation, or otherwise, (a) induce or attempt to induce any customer,
supplier, licensee or business relation to cease doing business with the Company, or in any way interfere with the relationship between
any customer, supplier, licensee or business entity and the Company; or (b) disparage the Company.

 

		11.4	Fair
and Reasonable. The Executive has carefully read and considered the provisions of this Section 11, and having done so, agrees that
the restrictions set forth in this Section 11 are fair and reasonable and are reasonably required for the protection of the interests
of the Company.

 

		11.5	Remedies.
The Executive agrees that his violation of any term, provision, covenant or condition of this Section 11 may result in irreparable injury
and damage to the Company which will not be adequately compensable in money damages, and that the Company will have no adequate remedy
at law therefor. In addition to any other rights or remedies that the Company may have at law or in equity, under this Agreement, or
otherwise, the Executive agrees that the Company may obtain temporary, preliminary or permanent restraining orders, decrees or injunctions
as may be necessary to protect the Company against, or on account of, such violation, without the necessity that the Company post a bond
for such relief. Nothing in this Section shall be construed to limit the Company’s rights or remedies for or defenses to any action,
suit or controversy arising out of this Agreement.

 

		12.	Indemnification.
The Company will defend, indemnify and hold Executive harmless to the fullest extent permitted by law from and against any claim, liability
or expense (including reasonable attorneys’ fees) asserted against or incurred by Executive in the course of his engagement with
the Company, provided that no such indemnity shall indemnify Executive from or on account of acts or omissions of Executive finally adjudged
to be intentional misconduct or a knowing violation of law by Executive, or any transaction with respect to which it was finally adjudged
that Executive received a benefit in money, property or services to which he was not legally entitled. This indemnification obligation
will include, without limitation, prompt payment in advance of any and all costs of defending the same, including attorney fees, and
will survive the expiration or early termination of this Agreement.

 

		13.	Severability.
If any part of this Agreement is held by a court of competent jurisdiction to be invalid, unenforceable or in whole or in part, by reason
of any rule of law or public policy, such part shall be deemed to be severed from the remainder of this Agreement for the purpose only
of the particular legal proceedings in question and all other covenants and provisions of this Agreement shall in every other respect
continue in full force and effect.

 

		14.	Warranty.
The Executive represents and warrants that he is not subject to any agreement, instrument, order, judgment or decree of any kind, or
any other restrictive agreement of any character, which would prevent him from legally entering into this Agreement, or which would be
breached by the Executive upon execution of this Agreement.

     

     

    

		15.	Notices.
All notices hereunder shall be in writing and shall be deemed given if hand-delivered or deposited with a nationally recognized overnight
delivery service such as FedEx for next Business Day delivery, or in the mail, postage prepaid, registered or certified with a return
receipt requested, and addressed as follows:

 

If
to Executive:

David Segelov

156 Wilbur Road

Bergenfield, NJ 07621

 

If
to Company:

Star Gold Corp.

1875 N. Lakewood Drive, Suite 200

Coeur d’Alene, ID 83814

 

or
to such other addresses as the parties hereto may designate by written notice pursuant to this paragraph.

 

		16.	Effective
Waiver. The waiver by any party hereto of a breach of any provision of this Agreement shall not operate as or be construed as a waiver
of any subsequent breach thereof.

 

		17.	Amendment.
This Agreement may be amended or modified only by an agreement in writing signed by the Company and the Executive.

 

		18.	Entire
Agreement. This Agreement is complete, and all promises, representations, understandings, warranties, and agreements with reference
to the subject matter herein have been fully and finally expressed herein; and this Agreement supersedes any and all prior agreements
with respect to the subject matter hereof.

 

		19.	Captions.
The titles to the paragraphs herein are not considered part of this Agreement.

 

		20.	Successors
and Assigns. Any successor of the Company or of its assets, business and goodwill, by purchase, merger or reorganization, shall succeed
to all of the rights and be responsible for the performance of all the obligations of the Company under the terms of this Agreement,
in the same manner and to the same extent as though such successor were the Company. The rights and responsibilities of the Executive
hereunder are personal and shall not be transferable by assignment or otherwise.

 

		21.	Attorneys’
Fees And Costs.
In the event that it shall become necessary for either of the parties to obtain the services of an attorney in order to enforce the provisions
hereof, then, in that event, the defaulting party shall pay the prevailing party all reasonable attorneys’ fees and all costs incurred
in connection therewith, including the costs of any appeal.

 

		22.	Governing
Law. This Agreement shall be construed according to and governed by the laws of the State of Idaho.

     

     

    

		23.	Consent
to Jurisdiction, Service of Process, And Venue. Executive agrees that any dispute or claim between Executive and the Company
shall be adjudicated exclusively in the in a court in Kootenai County, Idaho, and agrees not to commence or pursue an action in
any other state or federal court. Executive also expressly consents to the exclusive jurisdiction of such court and to service
of process in any manner provided under Idaho law with respect to any such legal action or proceeding involving Executive and
the Company. Claims or disputes covered by this agreement include, without limitation, any relating to, arising out of, or resulting
from Executive’s relationship with the Company, the termination of that relationship with the Company, and specifically includes
any claim under any statute (including, without limitation, any claim arising under or based upon the Age Discrimination Employment
Act, Title VII of the Civil Rights Act, the Americans With Disabilities Act, the Rehabilitation Act of 1973, or any other federal
or state anti-discrimination law, the Fair Labor Standards Act or any other federal or state wage law, the Equal Pay Act, the
Employee Retirement Income Security Act, et cetera) and any claim under contract, quasi-contract, estoppel, or tort.

 

		24.	Counterparts.
This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed to constitute an original, but all of which
together shall constitute one and the same instrument.

 

IN
WITNESS WHEREOF, the parties hereto or their duly authorized representatives have caused this Agreement to be executed as of the date
first above written.

 

	STAR
    GOLD CORP.:	 	EXECUTIVE:	 
	 	 	 	DAVID
    SEGELOV	 
	 	 	 	 	 
	By: 		 		 
	Kelly
    J. Stopher, Chief Financial Officer	 	David
    Segelov	 

     

     

    

Appendix
A

 

Duties
of Executive

 

The
Executive’s principal duties on behalf of the Company are and shall be to fulfill the obligations and duties of President, which
include all of the duties customarily involved in such a position. The Executive shall be responsible for reporting to the Board of Directors
(the “Board”). The scope of services to be provided by Executive will consist of support, analytical and professional
services to the executive management of the Company, which may include:

 

		●	Exercising
the usual executive powers and duties pertaining to the office of President, subject to the Board, including but not limited to; general
control over the day to day management of the Company; signing and countersigning all certificates, contracts and other instruments of
the Company; and any other powers or duties assigned by the Board from time to time. In the absence of a Chairman of the Board, the President
shall preside at meetings of the Board and of the shareholders, perform the other duties of the Chairman of the Board, and perform such
other duties as the Board may from time to time designate.

 

		●	Advising,
identifying and ensuring that the Company complies with the requirements of federal and state laws and regulations in the United States
of America applicable to its activities, as well as any applicable federal or provincial laws and regulations in Canada.

 

		●	Other
professional services as reasonably requested by the Company’s Board.Exhibit
10.3

 

EXECUTIVE
CONSULTING AGREEMENT

 

THIS
EXECUTIVE CONSULTING AGREEMENT (the “Agreement”), is made and entered into effective as of May 1, 2021 (the “Effective
Date”) by and between Star Gold Corp., a Nevada corporation with a principal business address of 1875 N. Lakewood Drive,
Suite 200, Coeur d’Alene, Idaho 83814 (the “Company”) and Kelly J. Stopher (the “Executive”).
The Company and Executive are referred to below individually as a “Party” and collectively as the “Parties”.

 

RECITALS

 

WHEREAS,
the Executive is currently engaged by the Company; and

 

WHEREAS,
the Company desires to continue to engage the Executive in his current capacity as an independent contractor and to enter into
an agreement embodying the terms of such engagement; and

 

WHEREAS,
the Executive desires to accept such continuation of engagement and to enter into an agreement, subject to the terms and conditions
of this Agreement.

 

NOW
THEREFORE, in consideration of the premises and of the respective covenants and agreements of the Parties herein contained, and
of other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties, intending
legally to be bound, hereby agree as follows:

 

AGREEMENT

 

		1.	Defined
Terms. Unless otherwise defined herein, capitalized terms used in this Agreement shall have the following meanings:

 

		1.1	“Board”
means the Board of Directors of the Company.

 

		1.2	“Cause”
means any or all of the following:

 

		a)	termination
of the Executive at, or immediately following, the consummation of a Change in Control.

 

		b)	any
material breach by the Executive of his obligations under this Agreement, if the Company provided the Executive with written notice
of such Cause and the Executive failed to remedy the situation to the reasonable satisfaction of the Company within thirty (30)
days of the date of such notice;

 

		c)	Executive’s
conviction of, or plea of guilty to, any felony charge, or of any crime involving moral turpitude, fraud or misrepresentation;

 

		d)	intentional
fraud, misrepresentation, or embezzlement by the Executive during this engagement; and/or

 

		e)	any
material neglect, inability, refusal or failure of the Executive to perform his duties as an executive of the Company, if the
Company provided the Executive with written notice of such Cause and the Executive failed to remedy the situation to the reasonable
satisfaction of the Company within thirty (30) days of the date of such notice;

 

		f)	permanent
disability;

 

		g)	death.

     

     

    

		1.3	“Duties”
means those duties set forth on Appendix A hereto and amended from time to time upon mutual agreement of the Company and the Executive.

 

		1.4	“Change
in Control” means (i) the acquisition of the Company by another entity by means of any transaction or series of related
transactions (including, without limitation, any reorganization, merger or consolidation or equity transfer, but excluding any
such transaction effected primarily for the purpose of changing the domicile of the Company), unless the Company’s equity
holders of record immediately prior to such transaction or series of related transactions hold, immediately after such transaction
or series of related transactions, at least 50% of the voting power of the surviving or acquiring entity (provided that the sale
by the Company of its securities for the purposes of raising additional funds shall not constitute a Change of Control hereunder);
or (ii) a sale of all or substantially all of the assets of the Company.

 

		1.5	“
Good Reason” means any or all of the following:

 

		a)	any
action that results in a material diminution in Executive’s position, authority, duties, or responsibilities, excluding for
this purpose an isolated or inadvertent action not taken in bad faith;

 

		b)	a
reduction, without cause and without the Executive’s written consent, by the Company in the Executive’s base compensation
as increased from time to time after the Effective Date hereof;

 

		c)	a
material breach by the Company of its obligations under this Agreement, if the Executive provided the Company with written notice
of such Good Reason and the Company failed to remedy the situation within thirty (30) days of the date of such notice; and/or

 

		d)	It
is the intent of the Company that a termination of service for Good Reason will meet the definition of “involuntary separation”
set forth in Treasury Regulation Section 1.409A-1(n), and this Agreement will be interpreted accordingly.

 

		1.6	“Permanent
Disability” means, with respect to the Executive, that the Executive has become physically or mentally incapacitated
or disabled so that, in the reasonable judgment of the Board, he is unable to perform the essential functions of his position
under this Agreement, with or without reasonable accommodation, and such condition has continued for at least six consecutive
calendar months or for 180 working days in any 12 month period.

 

		2.	Engagement
of Executive. As of the Effective Date, the Company hereby engages the Executive in a management capacity for the period specified
in Section 3 hereof, and the Executive accepts such engagement, on the terms and subject to the conditions set forth in this Agreement.
The Executive’s primary place of service will be in Spokane, Washington (the “Area”). The Executive may
be required to travel in the performance of his duties hereunder, but he shall not be required to relocate.

 

		3.	Term.
Except as otherwise provided in Section 6 hereof, the term of engagement hereunder shall be for a two (2) year period beginning
on the Effective Date (the “Engagement Period”), with such engagement being automatically renewed, annually,
on each anniversary of the Effective Date, following the Engagement Period, unless either Party gives the other Party written
notice, at least one hundred twenty (120) days in advance of the anniversary of the Effective Date.

     

     

    

		4.	Outside
Services. The Executive acknowledges he is serving as an executive officer of the Company, and as such covenants and agrees
that he will not engage in any other business activity, for his own account or for or on behalf of any other person, firm or corporation,
which would hinder his ability to perform his obligations as the Chairman of the Board of the Company. The Executive shall not
be considered a full-time employee and shall be able to be compensated for unrelated work except where there is an actual conflict
which interferes with the duties outlined in Appendix A. In the event of any such actual conflict, Executive may seek permission
from the Board of Directors to engage in such conflicting activities, which such permission may be denied at the sole discretion
of the Board.

 

		5.	Compensation
and General Benefits. The Executive shall be compensated for his services under this Agreement as follows:

 

		5.1	Compensation.
During the Engagement Period, the Company shall pay the Executive a base compensation equal to six thousand and no/100 dollars
($6,000.00) per month.

 

		5.2	Equity
Compensation Plans. The Executive will be eligible for participation in such bonus, stock purchase, incentive and performance
award programs which are available to other executives, consultants, directors and employees of the Company.

 

		5.3	Change
in Control. In the event of a Change in Control, Executive (or Executive’s spouse or estate, should Executive die prior
to payment pursuant to this Section 6.3), shall receive a onetime bonus equal to eighteen (18) months’ base compensation.

 

		5.4	Performance
Bonuses and Incentive Compensation. Executive may receive performance bonuses and other incentive compensation based upon
the recommendations and approval, and subject to the sole discretion, of the Board of Directors.

 

		5.5	Business
Expenses. During the Engagement Period, the Company shall pay or reimburse the Executive for all reasonable business expenses
incurred by Executive, including but not limited to travel and entertainment expenses, in accordance with the policies of the
Company applicable to executive officers. The Executive shall maintain and provide the Company with records of such expenses in
accordance with the rules and regulations promulgated by the Company. Upon termination, amounts owing to Executive for expense
reimbursement will be paid immediately by Company in accordance with the severance provisions in Section 9.

 

		5.6	D&O
Coverage. At all times during the Engagement, Executive shall be covered by Company’s Directors and Officers insurance
policy, which shall be maintained in the ordinary course of business consistent with the past practices of the Company.

 

		5.7	Taxes.
Executive, as an independent contractor, shall be responsible for payment of any and all required federal, state or local government
withholdings, deductions for taxes or similar charges with respect to any actual or constructive payment or compensation to the
Executive under this Agreement.

 

		5.8	No
Other Payments. The compensation payable to the Executive pursuant to this Agreement will be in consideration for all services
rendered by the Executive under this Agreement, and the Executive will receive no other compensation for any service provided
to the Company, unless the Company in its sole discretion otherwise determines.

     

     

    

		6.	Termination
of Engagement. The engagement of the Executive under this Agreement will terminate on the earliest of:

 

		6.1	Non-renewal
as set forth in Section 3 above.

 

		6.2	Termination
by the Company Without Cause. The 30th calendar day after the Company gives the Executive written notice of termination without
Cause.

 

		6.3	Termination
by the Company With Cause. If an event or circumstance within the definition of Cause occurs, immediately after the Company
gives the Executive written notice of termination for Cause.

 

		6.4	Termination
by the Executive For Good Reason. If an event or circumstance within the definition of Good Reason occurs, immediately after
the Executive gives the Company written notice of termination for Good Reason.

 

		6.5	Termination
by the Executive Without Good Reason. The 30th calendar day after the Executive gives the Company written notice of termination
of his engagement without Good Reason.

 

		7.	Notice
of Termination. Any notice of termination of the Executive’s engagement under this Agreement shall be communicated in
writing and delivered to the other Party as provided in Section 15 and shall specify the termination provision relied upon by
the party giving such notice. The Executive shall have a reasonable opportunity to be heard by the Board prior to any termination
for a “Cause” described in (b), (d) or (e) of the definition of “Cause”.

 

		8.	Termination
of Corporate Office. In the event that the engagement of Executive is terminated for any reason and Executive, at the time
of such termination, holds office as an officer of the Company, such office shall terminate and Executive shall be deemed to have
resigned the same automatically and without notice as of the effective date of the termination of engagement.

 

		9.	Severance
Conditions Upon Termination of Engagement Relationship. The engagement shall be subject to the following conditions:

 

		9.1	Termination
by the Company Without Cause or by the Executive for Good Reason. If the Company terminates Executive’s engagement without
Cause, or the Executive terminates engagement for Good Reason, the Company shall:

 

Pay
Executive (or Executive’s spouse or estate, should Executive die after termination), a severance benefit equal to twelve
(12) months’ base compensation, plus any non-equity performance bonus earned in the twelve (12) months preceding his termination;

 

		9.2	Termination
by the Company With Cause or by the Executive Without Good Reason. If the Company terminates the Executive’s engagement
for Cause or the Executive terminates his engagement without Good Reason, then

 

		(a)	the
Company shall pay to the Executive, on the date of termination of engagement, the Executive’s salary and earned bonus and
unreimbursed business expenses up to the date of termination of engagement, and

 

		(b)	the
Executive shall not receive any severance pay.

     

     

    

		10.	Conditions
to Receipt of Severance.

 

		10.1	Separation
Agreement and Release of Claims. The receipt of any severance pursuant to Section 9 will be subject to Executive signing,
not revoking and complying with a separation agreement and release of claims in a form reasonably satisfactory to the Executive
and the Company. No severance pursuant to such section will be paid or provided until the separation agreement and release agreement
becomes effective.

 

		10.2	Section
409A. If the Company reasonably determines that the imposition of additional tax under Section 409A of the Internal Revenue
Code of 1986, as amended, will apply to the payment of any cash severance payments otherwise due to Executive pursuant to Section
9, then notwithstanding anything to the contrary in this Agreement, any cash severance payments otherwise due to Executive pursuant
to Section 9 or otherwise on or within the six-month period following Executive’s termination will accrue during such six-month
period and will become payable in a lump sum payment on the date six (6) months and one (1) day following the date of Executive’s
termination. In addition, this Agreement will be deemed amended to the extent necessary to avoid imposition of any additional
tax or income recognition prior to actual payment to Executive under Code Section 409A and any temporary, proposed or final Treasury
Regulations and guidance promulgated thereunder and the parties agree to cooperate with each other and to take reasonably necessary
steps in this regard.

 

		11.	Confidentiality
and Non-Competition Provisions.

 

		11.1	Confidentiality.
The Executive acknowledges that he will be making use of, acquiring, and/or adding to Confidential Information of the Company
of a special and unique nature and value. The Executive covenants and agrees that he shall keep and maintain such Confidential
Information strictly confidential and shall not, anywhere in the world, at any time, directly or indirectly, for himself, or on
behalf of any person, firm, partnership or corporation, or otherwise, except as otherwise directed by the Company, or necessary
to perform his obligations under this Agreement, divulge or disclose for any purpose whatsoever, any Confidential Information
that has been obtained by, or disclosed to, him as a result of his relationship with the Company. This Agreement specifically
prohibits the Executive from disclosing to any person, firm, partnership or corporation or otherwise, trade secrets or other Confidential
Information relating to the business of the Company. “Confidential Information” as used herein shall mean any and all
information regarding or relating to the business affairs of the Company, including without limitation any and all financial,
technical, trade secret, and any other proprietary or confidential information (written or oral); provided however, “Confidential
Information” shall not include information which (i) was or becomes generally available to the public other than as a result
of a disclosure by the Executive in violation of this Agreement; (ii) was or is developed by the Executive independently of and
without reference to any Confidential Information; or (iii) was, is or becomes available to the Executive on a non-confidential
basis from a third party who is not prohibited from transmitting such information by a contractual, legal or fiduciary duty.

 

		11.2	Disclosure
of Confidential Information. In the event that the Executive is requested or becomes legally compelled (by oral questions,
interrogatories, requests for information or documents, subpoenas, civil investigative demand or similar process) to make any
disclosure which is prohibited or otherwise constrained by this Section 11, the Executive agrees that he will provide the Company
with prompt notice of such request so that the Company may seek an appropriate protective order or other appropriate remedy and/or
waive the Executive’s compliance with the provisions of this Section 11. In the event that such protective order or other
remedy is not obtained, or the Company grants a waiver hereunder, the Executive may furnish that portion (and only that portion)
of the information which the Executive is legally compelled to disclose or else stand liable for contempt or suffer other censure
or penalty; provided, however, that the Executive shall use his reasonable efforts to obtain reliable assurance that confidential
treatment will be accorded any information so disclosed. The Company may obtain temporary, preliminary or permanent restraining
orders, decrees or injunctions as may be necessary to protect the Company against, or on account of, any actual or threatened
violation of this Section 11.

     

     

    

		11.3	Interference
with Business. As a material inducement to the Company to enter into this Agreement, the Executive agrees that for a period
of one year beyond the date of Executive’s termination from engagement for whatever reason, the Executive shall not, directly
or indirectly, for himself or on behalf of any person, firm, partnership or corporation, or otherwise, (a) induce or attempt to
induce any customer, supplier, licensee or business relation to cease doing business with the Company, or in any way interfere
with the relationship between any customer, supplier, licensee or business entity and the Company; or (b) disparage the Company.

 

		11.4	Fair
and Reasonable. The Executive has carefully read and considered the provisions of this Section 11, and having done so, agrees
that the restrictions set forth in this Section 11 are fair and reasonable and are reasonably required for the protection of the
interests of the Company.

 

		11.5	Remedies.
The Executive agrees that his violation of any term, provision, covenant or condition of this Section 11 may result in irreparable
injury and damage to the Company which will not be adequately compensable in money damages, and that the Company will have no
adequate remedy at law therefor. In addition to any other rights or remedies that the Company may have at law or in equity, under
this Agreement, or otherwise, the Executive agrees that the Company may obtain temporary, preliminary or permanent restraining
orders, decrees or injunctions as may be necessary to protect the Company against, or on account of, such violation, without the
necessity that the Company post a bond for such relief. Nothing in this Section shall be construed to limit the Company’s
rights or remedies for or defenses to any action, suit or controversy arising out of this Agreement.

 

		12.	Indemnification.
The Company will defend, indemnify and hold Executive harmless to the fullest extent permitted by law from and against any claim,
liability or expense (including reasonable attorneys’ fees) asserted against or incurred by Executive in the course of his
engagement with the Company, provided that no such indemnity shall indemnify Executive from or on account of acts or omissions
of Executive finally adjudged to be intentional misconduct or a knowing violation of law by Executive, or any transaction with
respect to which it was finally adjudged that Executive received a benefit in money, property or services to which he was not
legally entitled. This indemnification obligation will include, without limitation, prompt payment in advance of any and all costs
of defending the same, including attorney fees, and will survive the expiration or early termination of this Agreement.

 

		13.	Severability.
If any part of this Agreement is held by a court of competent jurisdiction to be invalid, unenforceable or in whole or in part,
by reason of any rule of law or public policy, such part shall be deemed to be severed from the remainder of this Agreement for
the purpose only of the particular legal proceedings in question and all other covenants and provisions of this Agreement shall
in every other respect continue in full force and effect.

 

		14.	Warranty.
The Executive represents and warrants that he is not subject to any agreement, instrument, order, judgment or decree of any kind,
or any other restrictive agreement of any character, which would prevent him from legally entering into this Agreement, or which
would be breached by the Executive upon execution of this Agreement.

     

     

    

		15.	Notices.
All notices hereunder shall be in writing and shall be deemed given if hand-delivered or deposited with a nationally recognized
overnight delivery service such as FedEx for next Business Day delivery, or in the mail, postage prepaid, registered or certified
with a return receipt requested, and addressed as follows:

 

If
to Executive:

Kelly J. Stopher 

2910 E. 57TH Avenue, Suite 5 PMB 309

Spokane, WA 99223

 

If
to Company:

Star Gold Corp.

1875 N. Lakewood Drive, Suite 200

Coeur d’Alene, ID 83814

 

or
to such other addresses as the parties hereto may designate by written notice pursuant to this paragraph.

 

		16.	Effective
Waiver. The waiver by any party hereto of a breach of any provision of this Agreement shall not operate as or be construed
as a waiver of any subsequent breach thereof.

 

		17.	Amendment.
This Agreement may be amended or modified only by an agreement in writing signed by the Company and the Executive.

 

		18.	Entire
Agreement. This Agreement is complete, and all promises, representations, understandings, warranties, and agreements with
reference to the subject matter herein have been fully and finally expressed herein; and this Agreement supersedes any and all
prior agreements with respect to the subject matter hereof.

 

		19.	Captions.
The titles to the paragraphs herein are not considered part of this Agreement.

 

		20.	Successors
and Assigns. Any successor of the Company or of its assets, business and goodwill, by purchase, merger or reorganization,
shall succeed to all of the rights and be responsible for the performance of all the obligations of the Company under the terms
of this Agreement, in the same manner and to the same extent as though such successor were the Company. The rights and responsibilities
of the Executive hereunder are personal and shall not be transferable by assignment or otherwise.

 

		21.	Attorneys’
Fees And Costs. In the event that it shall become necessary for either of the parties to obtain the services of an attorney
in order to enforce the provisions hereof, then, in that event, the defaulting party shall pay the prevailing party all reasonable
attorneys’ fees and all costs incurred in connection therewith, including the costs of any appeal.

 

		22.	Governing
Law. This Agreement shall be construed according to and governed by the laws of the State of Idaho.

     

     

    

		23.	Consent
to Jurisdiction, Service of Process, And Venue. Executive agrees that any dispute or claim between Executive and the Company
shall be adjudicated exclusively in the in a court in Kootenai County, Idaho, and agrees not to commence or pursue an action in
any other state or federal court. Executive also expressly consents to the exclusive jurisdiction of such court and to service
of process in any manner provided under Idaho law with respect to any such legal action or proceeding involving Executive and
the Company. Claims or disputes covered by this agreement include, without limitation, any relating to, arising out of, or resulting
from Executive’s relationship with the Company, the termination of that relationship with the Company, and specifically includes
any claim under any statute (including, without limitation, any claim arising under or based upon the Age Discrimination Employment
Act, Title VII of the Civil Rights Act, the Americans With Disabilities Act, the Rehabilitation Act of 1973, or any other federal
or state anti-discrimination law, the Fair Labor Standards Act or any other federal or state wage law, the Equal Pay Act, the
Employee Retirement Income Security Act, et cetera) and any claim under contract, quasi-contract, estoppel, or tort.

 

		24.	Counterparts.
This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed to constitute an original, but all
of which together shall constitute one and the same instrument.

 

IN
WITNESS WHEREOF, the parties hereto or their duly authorized representatives have caused this Agreement to be executed as of the
date first above written.

 

	STAR
    GOLD CORP.:	 	EXECUTIVE:	 
	 	 	 	Kelly
    J. Stopher	 
	 	 	 	 	 
	By: 		 		 
	 	David
    Segelov, President and Principal Executive Officer	 	 	 

     

     

    

Appendix
A

 

Duties
of Executive

 

The
Executive’s principal duties on behalf of the Company are and shall be to fulfill the obligations and duties of Chief Financial
Officer (“CFO”’), which include all of the duties customarily involved in such a position. The Executive shall
be responsible for reporting to the Board of Directors (the “Board”). The scope of services to be provided
by Executive will consist of support, analytical and professional services to the executive management of the Company, which may
include:

 

		●	Serving
                                         as Chief Financial Officer and Corporate Secretary of the Company,

 

		●	Performing
                                         typical CFO services required of a publicly-reporting company, including preparation
                                         and filing of any and all necessary or advisable registration and reporting forms to
                                         the Securities and Exchange Commission (“SEC”) and other applicable
                                         regulatory entities within the United States of America , as well as any and all necessary
                                         or advisable registration documents and similar filings with a prospective Canadian exchange,

 

		●	Supervising
                                         staff and/or service providers of the Company, as available, in financial accounting
                                         matters,

 

		●	Working
                                         with management to identify and secure investors, and assisting with investor relations,

 

		●	Advising
                                         on Federal and State tax matters as they relate to the Company’s business strategies,

 

		●	Advising
                                         on, and operation of, effective internal control over financial reporting and safeguarding
                                         assets, and/or

 

		●	Advising,
                                         identifying and ensuring that the Company complies with the requirements of federal and
                                         state laws and regulations in the United States of America applicable to its activities,
                                         as well as any applicable federal or provincial laws and regulations in Canada.

 

		●	Other
                                         professional services as reasonably requested by the Company’s Board.

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