Document:

Exhibit4.zz

Exhibit 4.zz

LOAN AGREEMENT

THIS AGREEMENT made as of the 18th day of April, 2008.

B E T W E E N:

KIMBER RESOURCES INC

a corporation incorporated under the laws of Canada

(hereinafter called "the Lender")

OF THE FIRST PART

AND:

MINERA PERICONES, S.A.. DE C.V.

a limited liability company incorporated under the laws of Mexico

(hereinafter called "the Borrower")

OF THE SECOND PART

WHEREAS the Lender has loaned and may loan amounts to the Borrower from time to time (any such loans hereinafter referred to collectively as the "Indebtedness");

NOW THEREFORE THIS AGREEMENT WITNESSETH THAT in consideration of the covenants contained herein, the parties hereto agree as follows:

1. 

The following terms shall, when used in this Agreement, have the meaning and interpretation set forth as follows (except as otherwise expressly provided or as the context otherwise requires):

Act, means the General Titles and Operations of Credit Act of Mexico in effect on the date of signing of this Agreement, with its amendments and additions;

“Grid Note” means the form of promissory note referred to in Section 4 hereof;

“Indebtedness” means all amounts loaned by the lender to the Borrower, being, as of April 18, 2008, a total of $38,722.17, and such additional amounts as have been advanced and will be advanced by way of loan to the Borrower by the Lender;

“Default” means any event or circumstance, the occurrence or non-occurrence of which would, with the giving of a notice, lapse of time or combination thereof, constitute an Event of Default as provided in Section 9 ;

 “Loan Documents” mean this Agreement and any and all documents ancillary to this Agreement, including, without limitation, those documents or instruments entered into in respect of the Security;

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 “Permitted Encumbrance” means in respect of the Pericones Property, all charges, encumbrance, limitations of ownership or affectations of any type approved in writing from time to time by the Lender following the signing of this Agreement; for purposes herein, the parties agree that, as of the date hereof, there are no Permitted Encumbrance on the Pericones Property; 

“Promissory Note(s)” means the Grid Note and any other promissory note(s) executed from time to time by the Borrower for the benefit of the Lender for the payment of the Indebtedness pursuant to articles 170 and 325, second paragraph, of the Act; the Promissory Note(s) shall be freely endorsed by the Lender; 

“Security” means the security granted by the Borrower in favour of the Lender, as more particularly described in Section 5 below;

Pericones Property, means the mining concessions described in Schedule A attached hereto and made part hereof, together with all mining concessions or interest acquired in the future by the Borrower;

2.

The Indebtedness shall be payable by the Borrower on demand therefor made by the Lender at any time.

3.

Nothing in this Agreement shall obligate the Lender to advance any Indebtedness to the Borrower.

4.

The Indebtedness shall be denominated in Canadian currency and shall be non-interest bearing.

5.

Concurrently with the execution of this Loan Agreement, the Borrower shall execute and deliver to the Lender a grid promissory note in the form attached hereto as Exhibit “A” (the “Grid Note”).  The Lender is hereby authorized by the Borrower to enter and record on Schedule 1 attached to the Grid Note (a) the amount of each advance of principal of Indebtedness at the time of each such advance and (b) each repayment of Indebtedness at the time of each such repayment.  The entry of a principal advance or repayment on Schedule 1 to the Grid Note shall be prima facie and presumptive evidence of the entered amount and its conditions.  The Lender’s failure to make an entry, however, shall not limit or otherwise affect the obligations of the Borrower or of any endorser or guarantor of the Grid Note.

6.

As security for the Indebtedness, the Borrower:

(a)

grants to and in favour of the Lender a first degree mercantile mortgage over the Pericones Property and its products, subject only to Permitted Encumbrances;

(b)

grants to and in favour of the Lender a first security interest over all of its present and after-acquired personal property, subject only to Permitted Encumbrances; and

(c)

will execute and deliver to the Lender the Promissory Note(s) under which it will guarantee all indebtedness of the Borrower to the Lender hereunder;

(d)

will cause the Lender to be named as first “loss payee” on all property insurance policies held by the Borrower in respect of the Pericones Property  and any personal property.

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

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7.

The Lender appoints the Borrower as the trustee of the assets and rights furnished as Security pursuant to Section 6.;  all assets and rights constituting the Security shall be maintained at their current location in the State of Chihuahua, or any other location designated by the Lender from time to time (and all Security provisions hereunder shall remain in full force and effect), for as long as any portion of the Indebtedness remains unpaid, even if such period of time is in excess of three years or if an Event of Default occurs.

 

8.

There shall not be a reduction of Security on partial repayment of the Indebtedness.

9.

The occurrence of any of the following shall constitute an “Event of Default” under this Agreement:

(a)

the non-payment when due (whether at a stated maturity, upon demand, upon acceleration, upon required prepayment or otherwise) of any amounts owing to the Lender under this Agreement or any other Loan Document and such non-payment continues for five (5) Business Days;

(b)

while the Indebtedness remains outstanding any breach by the Borrower of any of their respective undertakings, covenants, conditions or other obligations set forth in this Agreement or any of the Loan Documents;

(c)

if any of the Borrower’s representations, warranties or other statements made or given in this Agreement or any other document delivered hereunder or in connection with the Loan were at the time given false or misleading in any material respect;

(d)

if the Borrower, either directly or indirectly, ceases or threatens to cease to carry on business;

(e)

if the Borrower defaults in any material obligation in respect of any material contract or of any indebtedness for borrowed money (or security granted pursuant thereto) subject to applicable cure periods thereon, where as a result of such default, the maturity of such indebtedness is or may be accelerated, or under any agreement with an equipment financier where as a result of such default, such equipment financier commences any enforcement action in respect of its collateral;

(f)

if at any time after execution and delivery of this Agreement, any of the Loan Documents ceases to be in full force and effect or if any of the Loan Documents is declared by a court or tribunal of competent jurisdiction to be null and void or the validity, enforceability or priority thereof is contested by the Borrower.

10.

Upon the occurrence of an Event of Default and at any time thereafter, the Lender may: (i) declare that any obligation of the Lender hereunder is immediately terminated; (ii) declare that the outstanding balance of the Indebtedness is due and payable whereupon all Indebtedness and liability of the Borrower in respect thereof, together with all other monies and amounts payable hereunder, shall be immediately due and payable; (iii) retain any amounts which the Borrower may be entitled to receive as an adjustment of additional interest as a genuine pre-estimate of liquidated damages; (iv) exercise any right or recourse and proceed by any action, suit, remedy or proceeding against the Borrower authorized or permitted by law for the recovery of all indebtedness and liabilities of the Borrower to the Lender hereunder; and (v) proceed to exercise any and all rights hereunder or under the Loan Documents.  

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Any or all proceeds resulting from the exercise of any or all of the foregoing remedies shall be applied as set forth in any applicable Loan Document providing the remedy or remedies exercised; if none is specified, or if the remedy is provided by this Agreement, then as follows: (i) to the costs and expenses, including without limitation reasonable legal fees and disbursements incurred by the Lender in connection with the exercise of its remedies; (ii) to the expenses of curing the default that has occurred, in the event that the Lender elects, in its sole discretion, to cure the default that has occurred; (iii) to the payment of amounts owing by the Borrower under the Loan Documents, including but not limited to the payment of the principal of and interest on the Indebtedness, in such order of priority as the Lender shall determine in its sole discretion; and (iv) the remainder, if any, to the Borrower or to any other person lawfully hereunto entitled.

11.

The parties hereto expressly agree that the Indebtedness shall be subordinated to any secured loan facility established by the Borrower with any bank or other financial institution for the purpose of establishing a processing facility on the Pericones Property.

12.

The Borrower covenants that it will execute or cause to be made, done or executed, all further and lawful acts, deeds, things, devices, conveyances and assurances whatsoever for effecting the purposes and intent of this agreement as counsel for the Lender shall reasonably advise or request.

13.

All notices and other communications required or permitted to be given hereunder shall be in writing in the English language and may be delivered personally or faxed (with receipt confirmed) or dispatched (postage prepaid) by a nationally recognized overnight courier service with overnight delivery instructions, in each case addressed to the particular party at:

To the Borrower:

KIMBER RESOURCES INC.

215 – 800 West Pender Street

Vancouver, BC, V6C 2V6

Fax:  604 669-8577

To the Lender:

MINERA PERICONES, S. A. DE C.V.

Calle La Salle #3230

Fracc. Lomas la Salle

CP 31214

Chihuahua, Chih.  MEXICO

Fax:  52-614-423-4664

or at such other address of which any party may, from time to time, advise the other party by notice in writing given in accordance with the foregoing.  Notice will be deemed to have been given, if delivered, on the date of delivery, or, if sent by facsimile when received by the recipient. 

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14.

This Loan Agreement shall be governed by and construed in accordance with the laws of the Province of British Columbia and the laws of Canada applicable therein, and shall in all respects be considered to be a British Columbia contract, except as regards collection privileges and rank, in respect of which, if enforced in Mexico, this Loan Agreement shall be deemed a Mexican contract governed and construed in accordance with the laws of Mexico.

15.

This Loan Agreement shall be binding upon and shall enure to the benefit of the parties hereto their 

respective successors and assigns.

IN WITNESS WHEREOF this Loan Agreement has been executed by the parties hereto dated this 18th day of June 2009.

			
	 
	KIMBER RESOURCES INC.

	 
	 
	 

	 
	 
	 

	 
	By:

	"/s/ Gordon Cummings"

	 
	 
	Gordon Cummings, President

	 
	 
	 

	 
	 
	 

	 
	 
	 

	 
	MINERA PERICONES, S. A. DE C.V.

	 
	 
	 

	 
	By:

	"/s/ Gordon Cummings"

	 
	 
	Gordon Cummings, Chairman

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Exhibit “A”

GRID PROMISSORY NOTE

Cdn$38,722.17 (as of April 18, 2008)

Due: On demand.

For value received, MINERA PERICONES S.A. de C.V., a limited liability partnership incorporated under the laws of Mexico (the “Borrower”) promises to pay to the order of KIMBER RESOURCES INC., a corporation incorporated under the laws of the Province of British Columbia, Canada (the "Lender") at its registered office in Vancouver, British Columbia, in lawful money of Canada, the lesser of:

(i)

the principal sum of $38,722.17; and

(ii)

the aggregate unpaid principal balance of all advances made by the Lender as recorded on the reverse of this note or on any attachment,.

This note is issued to evidence advances by the Lender to the Borrower under a loan agreement dated as of January 1, 2006 between the Borrower and the Lender, as the same may be amended or modified (the "Loan Agreement").

The entire principal of this note is payable on demand.

The Borrower authorizes the Lender to record on the reverse of this note or on any attachment to this note all advances, repayments, prepayments and the unpaid principal balance from time to time.  The Borrower agrees that in the absence of manifest error the record kept by the Lender on this note or any attachment shall be conclusive evidence of the matters recorded, provided that the failure of the Lender to record or correctly record any amount or date shall not affect the obligation of the undersigned to pay the outstanding principal amount of the advances and interest in accordance with the Loan Agreement.

The Borrower waives presentment, demand, notice of dishonour and protest or further notice of any kind and agrees that it shall remain liable in respect of this note as if presentment, demand, notice of dishonour and protest had been duly made or given.

Terms are used in this note with the meanings ascribed to them in the Loan Agreement unless otherwise specified.

			
	 
	MINERA PERICONES, S. A. de C.V.

	 
	 
	 

	 
	 
	 

	 
	By:

	"/s/ Gordon Cummings"

	 
	 
	Gordon Cummings Chairman

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Schedule 1

Advances and payments of principal and accruals of interest

					
	Date

	Amount of Advance

	Amount of Principal Paid or Prepaid

	Unpaid Principal Balance

	Notation

Made by

	April 18, 2008

	$38,722.17

	 
	$38,722.17

	Lyn Davies

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	TotalsExhibit 4.aaa

Exhibit 4-aaa

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 ANEXO “C”

VERSION EN INGLES

THIS LAND TEMPORARY OCCUPATION AGREEMENT is executed on this the 27th day of April, 2009 between:

IRINEA PLATA GOMEZ, acting in his own rights, a citizen of Mexico, of age, married, housewife, having its domicile at Acamuchitlan, Mexico, (hereinafter referred to as the "Property Owner"),

OF THE FIRST PART;

AND:

MINERA PERICONES, S.A. DE C. V., a corporation duly incorporated pursuant to the Business Corporations Act (México), having its main corporate offices situated at La Salle, No.3230 Fraccionamiento Lomas La Salle C.P. 31214, Chihuahua, Chihuahua, herein represented by LIC. JOSE ABRAHAM URIAS ROMERO, acting as its legal representative of the Company, (hereinafter referred to as the “Company”), 

OF THE SECOND PART.

This Agreement is executed pursuant to the laws of the United Mexican States and, in particular, in accordance with the applicable provisions of the Agrarian Act, the Mining Act and its Regulations, the Commercial Code and the Civil Code of the State of México.

WARRANTIES AND REPRESENTATIONS UNDER OATH

I.

Property owner hereby warrants and represents to the Company as follows:

A.

It the rightful owner and in possession of 26-55-77.23 hectares of parcel of land no. 36 Z1 P1/I situated in the community of Acamuchitlan, Municipality of Tejupilco, State of Mexico, México (the “Parcel of Land”) with the following metes and bounds; Northeastern 96.88 mts to parcel 20; 288.73 mts to parcel 22; 599.81 mts to parcel 189 in broken line; 95.86 mts to highway Altamirano City-Tejupilco in broken line; southeastern 150.49 mts to highway Altamirano City-Tejupilco in broken line; southwestern 640.05 mts to parcel 46 in broken line; Northwest 267.28 mts to parcel 35 in broken line; 109.55 mts to parcel 19 in broken line, certified under parcel certificate no. 000000008514 issued by Mr. Vicente Fox Quezada and registered at the Agrarian Registry office under folio no 15FDC0008514; a copy of the said certificate is attached as Schedule B hereto.

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B.

The Parcel of Land is, as of the date hereof, free and clear of (a) any charge, encumbrance or limitation or ownership whatsoever, (b) any judicial controversy, legal action or claim of any nature; and (c) free and clear of any agreement or juridical act which may impede, affect or prohibit the execution of this Agreement or the compliance with the obligations hereunder.

C.

The Property Owner acknowledges Minerals (as hereinafter defined) contained in, on or unto the mining concessions situated in the Municipality of Tejupilco, State of Mexico, as described in Schedule "A" hereto, (the "Mining Concessions") are the property of the Company pursuant to applicable mining legislation.

II.

The Company, through its legal representative, warrants and represents to the Property Owner as follows:

A.

The Company is a limited liability corporation duly incorporated and validly subsisting pursuant to the Business Corporations Act (Mexico).

B.

The Company possesses the legal capacity required by law to acquire as owner mining concessions located within the territory of Mexico, in accordance with S. 11 of the Mining Act.

C.

The powers and authority granted to the Company's representative acting in its name hereunder are sufficient for the execution of this Agreement and said powers and Authority have not, as of this date, been revoked or amended in any manner whatsoever.

NOW THEREFORE THIS AGREEMENT WITNESSES that in consideration of the mutual warranties and representations herein contained, the parties agree as follows:

1.

Occupation. The Property Owner hereby grants the Company, and the Company hereby acquires, the rights to use, enjoy and occupy a total land area of 26-55-77.23 hectares of the Parcel of Land of (the "Land in Occupation") to carry out the Mining Activities (as defined here-below).

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1.1.

The Company shall have the right, during the term of this Agreement and  on written 

notice to the Property Owner, to extend, reduce or modify the extension of the Land in Occupation, so that the Company may carry out Mining Activities in any area of the Parcel of Land. On said notice, the Company shall deliver to the Property Owner a map describing the geographical location of the extension, reduction or modification to the Land in Occupation and any adjustment to the Annual Rent to be paid pursuant to Clause 4 hereof.

2.

Mining Activities. The Company may, during the term this Agreement is in full force and effect, carry out the following activities on the Land in Occupation (the "Mining Activities"): any and all works and activities carried out to (a) identify mineral deposits and to quantify mineral reserves to determine the economic feasibility of their recovery; (b) prepare and develop the area comprising the mineral deposit to recover and extract minerals described in s.4 of the Mining Act ("Minerals") and (c) refine, treat, sell and market Minerals, including, without limitation:

(a)

the access and establishment of easements,

(b)

the use, change and rehabilitation of roads, paths or ways existing on the Land in Occupation in order to transport personnel, machinery, tools, Minerals or any other goods,

(c)

the construction of any building or structure, the execution of any exploration work such as, geological reconnaissance, sampling of rocks, soil, sediments and minerals, metallurgical testing, geological and geophysical mapping, trenching and other supporting exploration work, drilling and underground developments of any nature, construction of tunnels and other underground work,

(d)

the use of water and the acquisition of water rights concessions, including the installation of water pipelines, electricity cables and the construction of any structure or building intended for the conduction of water or electricity,

(e)

the construction, extension, setting up or dismantling of campsites, dorms, warehouses, shops, offices and facilities to carry out the activities of the Company,

(f)

the construction of drilling pads and drilling of any kind; surveys of any area within the Land in Occupation,

(g)

the evaluation of the economic feasibility to mine Minerals,

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(h)

mine construction on any portion of the Land in Occupation,

(i)

the mining removal, treatment, recovery, extraction and refining of Minerals

(j)

the sale and marketing of Minerals, and

(k)

the execution of any additional activity deemed by the Company to be necessary, appropriate or incidental to the above.

2.1.

The Property Owner may continue with his agricultural activities within the area of the Land in Occupation, as long as the execution of such activities do not interfere in any manner whatsoever with the execution of the Mining Activities by the Company.

3.

Term. This Agreement shall be in full force and effect for a term of Twenty-five (25) years commencing on the date of signing and notary public ratification by the parties (the "Term of the Agreement"). The Term of the Agreement shall be compulsory to the Property Owner and discretionary to the Company. The Company may relinquish its rights hereunder and terminate this Agreement at any time on Thirty (30) day prior written notice to the Property Owner.

4.

Rent. The Company shall pay to the Property Owner, during the term of this Agreement, an annual rent of $700.00 (Seven Hundred Mexican Pesos) per each hectare comprising the Land in Occupation (the "Annual Rent"). The Annual Rent shall be paid in advance within the first ten (10) business days of each twelve month period. In accordance with article 58, paragraph 3, of the Mining Act Regulations, the Annual Rent shall be adjusted by the annual consumer's price index applicable to the year preceding the date of payment.

4.1.

The first Annual Rent shall be paid on the date of signing and notary public ratification of this Agreement, for the period of twelve (12) months following such signing.

5.

Obligations of the Company. The Company, its employees and independent contractors shall comply with all provisions imposed by mining, labour and environmental protection laws applicable to the execution of the Mining Activities on the Land in Occupation.

5.1.

The Company shall bear the responsibility for any sanction, penalty or judgement assessed or awarded by a competent authority in relation to any act carried out on the Land in Occupation in violation of, or in contravention with, applicable mining labour or environmental protection laws.

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5.2.

The Company shall indemnify and hold the Property Owner harmless from and against any loss, liability, claim, accusation, demand or penalty assessed or awarded against the Property Owner in respect to any act carried out by the Company, its employees and contractors on the Land in Occupation in violation of or in contravention with, mining, labour or environmental protection laws, following the date of signing of this Agreement.

5.3.

The Company shall bear the responsibility to apply for and obtain from the competent authorities all permits, authorizations, concessions or favourable resolutions (and to issue a notice when required by law) to authorize the Company to:

(a)

carry out the Mining Activities on the Land in Occupation,

(b)

consume or use water, regardless of its source, or to discharge residual waters, as deemed required,

(c)

use, consume, purchase or store explosives, in accordance with the Federal Explosives and Firearms Act.

5.4.

The Company shall restore and rehabilitate any loss or damage that may be caused to the soil or subsoil of the surface area of the Land in Occupation as a result of the execution and at the conclusion of the Mining Activities, as mandated by laws applicable to the protection of the environment.

5.5.

The Company shall, on termination of this Agreement and within a term of Two (2) year following the effective date of termination, remove from the Land in Occupation any and all movable property, including any equipment, machinery or device used during the execution or at the conclusion of the Mining Activities.

6.

Obligations of the Property Owner. The Property Owner hereby grants to the Company its consent and authorization so that as required by applicable law the Company may apply for and obtain from the Secretariat of Environment Protection and Natural Resources, or from any other competent authority, any and all permits, authorizations or concessions required by the Company to carry out the Mining Activities on the Land in Occupation, including, without limitation:

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(a)

the application and approval for change of use of soil to mining activities,

(b)

the application and approval of an environmental impact study,

(c)

the application and approval of any permit required for drilling activities,

(d)

the application and approval of any permit required for use and consumption of National waters of whatever source or the discharge of residual water, if necessary,

(e)

the application and approval of any permit required for the use, consumption, purchase or storage of explosives, in accordance with the Federal Explosives and Firearms Act,

(f)

the application and approval to have all permits, authorizations and concessions set out above issued in the name of the Company, without the additional consent of the Property Owner and notwithstanding that the Company is not the owner of the affected surface rights.

6.1.

The provisions set forth above constitute the consent, approval, permit and authorization of the Property Owner for the purposes named herein; no additional consent, approval, permit or authorization from the Property Owner shall be required.

7.

 Access. The parties acknowledge that execution of the Mining Activities is of a dangerous nature and, therefore, any person not related to the Company shall require a prior written consent from the Company to enter to and/or remain within the area comprising the Land in Occupation.

7.1.

The Company, its directors, officers, employees, agents or contractors shall not be liable for any damage, expense, injury or harm incurred by or to any person not related to the Company while such person is on the Land in Occupation.

7.2.

The Property Owner shall carry out all acts necessary to provide and maintain full access by the Company, its representatives and contractors to the Land in Occupation as agreed upon hereunder, including the removal by any legal means of any person or object that in the opinion of the Company is or will be restricting, limiting or impeding the full performance of the Mining Activities on the Land in Occupation.

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8.

Option to Purchase. The Property Owner hereby grants to the Company, and the Company acquires from the Property Owner, during the term of this Agreement, the exclusive and irrevocable right, but not the obligation, to purchase all portion of the land area comprising the Land in Occupation (the "Option to Purchase") on payment to the Property Owner of the purchase price independently determined by the Institute for the Administration and Appraisal of National Assets (the "INDAABIN").

8.1.

On exercise of the Option to Purchase, the Company shall issue a written notice to the Property Owner, attaching an original of the appraisal issued by the INDAABIN and a map of the Land in Occupation showing the land area subject matter of the intended purchase (the "Notice to Purchase"). On receipt of the Notice to Purchase by the Property Owner, the parties shall forthwith sign a Sale and Purchase Agreement (the "Sale and Purchase Agreement") whereby the Property Owner shall transfer to the Company, free and clear of any liens or limitation of ownership whatsoever, the ownership rights to the land area of the Land in Occupation set out in the Notice to Purchase, on payment to the Property Owner of the purchase price determined by the INDAABIN appraisal.

9.

Assignment. The Company, its successors and assigns, shall be authorized by the Property Owner, and shall have the right, to assign or transfer to an individual or Corporation, at their own discretion, the whole or a portion of the rights and/or obligations agreed upon hereunder. No additional consent from the Property Owner shall be required to exercise the rights herein set out.

10.

Relationship. The parties shall act towards each other in good faith and co-operation in all matters connected herewith, provided that:

(a)

such relationship shall not impose upon either of them any duties or liabilities whatsoever except in accordance with this Agreement,

(b)

this Agreement shall not be deemed to constitute or create a partnership between the parties, and

(c)

neither party shall have any authority to act for or to assume any obligation or responsibility on behalf, on account or in representation of the other party, except as provided herein.

11.

This Agreement shall cease to be in full force and effect by:

(a)

the dissolution and liquidation of the Company,

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(b)

the conclusion of the Term of the Agreement,

(c)

the acquisition by the Company of the ownership rights to the Land in Occupation; if the Company acquires a portion of such land, this Agreement shall continue in full force and effect for the remaining land area,

(d)

the delivery by the Company to the Property Owner of the notice of relinquishment of rights and early termination of Agreement set out in Clause 3 hereof,

(e)

the final judicial judgment of annulment, cancellation or termination of the rights attached to the Mining Concessions,

(f)

the written agreement of the parties.

12.

Applicable Law and Tribunals. This Agreement shall be governed by the provisions of the Agrarian Act, the Mining Act and its Regulations, the Code of Commerce and the Civil Code of the State of Mexico. The parties hereto agree that the state and federal tribunals with competent jurisdiction in and for the City of Mexico, D.F. shall have the authority to resolve any dispute, suit or claim arising under this Agreement. The parties hereby renounce to the jurisdiction of any other tribunal or court to whose jurisdiction they might have a right to by virtue of their current or future domiciles.

13.

Force Majeure. The obligation of the Company to pay the Annual Rent shall be suspended when the execution of the Mining Activities is prevented, delayed or interrupted by an act of force majeure. Payment of the obligation shall be suspended for the duration of the act of force majeure. In case of force majeure, the term for \payment of the suspended obligation(s) shall be advanced by the number of days of existence of the force majeure.

13.1

The parties acknowledge as acts of force majeure, the following: any act of God or human act, such as earthquakes, volcanic eruptions, hurricanes, fires, floods, storms, accidents, droughts, avalanches, uprisings, rebellions, revolutions, wars, strikes, illegal confinement, acts of authority, restrictions or impediment to access the Land in Occupation and, in general, any other act not related to the will of the parties that prevents or delays the execution of Mining Activities.

13.2.

In the event of force majeure, the Company shall, as prompt as reasonably possible, deliver a notice to the Property Owner setting out the estimated period of suspension of payment of the Annual Rent. On disappearance of the force majeure, the Company shall notify the Property Owner accordingly and it shall, as prompt as reasonably possible, proceed with compliance of the suspended obligation(s).

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14.

Notices. Any notice or notification given or required to be given between the parties as a result of the application of this Agreement, including any notification required under judicial proceedings, shall be given in writing and personally delivered to the other party, or delivered by any way that assures undoubtedly its reception or notification and it shall be addressed to the latest domiciles set out by the parties under this Agreement, which domiciles are, until further notice is given, the domiciles of the parties described in page 1 of this Agreement.

15.

Successors and Assigns. This Agreement is binding upon, and inures to the benefit of the Property Owner, the Company and their respective successors and assigns.

16.

Whole Agreement. This Agreement, its schedules and the documents delivered as set forth hereunder, constitute the entire understanding of the parties in respect to the subject matter hereof, and they cancel and supersede any other agreement, contract or letter of intent that they may have executed in respect to the said subject matter.

17.

Languages. This Agreement is approved in both the English and Spanish languages, The parties agree that in the event of discrepancy between the two versions, the Spanish version shall prevail. The parties acknowledge to having obtained sufficient independent legal advice and to having read and understood (through their respective appointed interpreters and legal counsel) the legal effects and validity of this Agreement in both the Spanish and English versions. The English version is attached as Schedule C hereto and made part hereof for all corresponding legal effects.

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In witness whereof, the parties hereto after having read and understood the legal effects and validity of the premises set forth above, have caused this Agreement to be executed on the date and place above written.

THE "PROPERTY OWNER"

  "/s/ Irinea Plata Gomez" 

MRS. IRINEA PLATA GOMEZ

IN HIS OWN RIGHTS

THE “COMPANY”

MINERA PERICONES, S.A. DE C.V.

  "/s/ Jose Abraham Urias Romero" 

LIC. JOSE ABRAHAM URIAS ROMERO

ITS: LEGAL REPRESENTATIVE

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