Document:

Exhibit 10.1

 

SHARE PURCHASE
AGREEMENT

 

THIS SHARE PURCHASE AGREEMENT is made effective
as of the 27th  day of December, 2021.

 

AMONG:

 

NUBIAN RESOURCES LTD., a corporation
organized under the laws of the Province of British Columbia and having an address for notice and delivery at Suite 202, Yale Court Plaza,
2526 Yale Court, Abbotsford, British Columbia, V2S 8G9

 

(the "Vendor")

 

AND:

 

ATHENA GOLD CORPORATION (formerly
Athena Silver Corporation), a corporation organized under the laws of the State of Delaware and having an address for notice and delivery
at –2010A Harbison Drive, Unit 312, Vacaville, California, USA, 95687

 

(the "Purchaser")

 

AND:

 

NUBIAN RESOURCES (USA) LTD.,
a corporation organized under the laws of the State of Delaware and having an address for notice and delivery at Suite 202, Yale Court
Plaza, 2526 Yale Court, Abbotsford, British Columbia, V2S 8G9

 

(the "Corporation")

 

WHEREAS:

 

	A.		The Corporation is the legal and beneficial owner of the Property (as defined herein) and
the Existing Data (as defined herein);

 

	B.		The Vendor holds, beneficially and of record 754,385 common shares (the "Purchased
Shares") in the capital of the Corporation, representing all of the issued and outstanding shares or rights to acquire shares
in the capital of the Corporation;

 

	C.		The Purchaser is a reporting issuer in the Provinces of British Columbia and Ontario and
under the United States Securities Exchange Act of 1934; and

 

	D.		The Vendor wishes to sell and convey the Purchased Shares to the Purchaser, and the Purchaser
wishes to purchase the Purchased Shares in exchange for the Purchase Price (as defined herein), upon the terms and conditions herein
set forth such that upon completion of the Acquisition (as defined herein), the Corporation shall be a wholly-owned subsidiary of the
Purchaser.

 

NOW THEREFORE THIS AGREEMENT WITNESSES that in
consideration of the covenants, agreements, warranties and payments herein set forth and provided for, the Parties covenant and agree
as set forth below.

 

    	 	 	 

     

    

 

 

Article 1

INTERPRETATION

 

	1.1		Definitions

 

In this Agreement, including
the recitals and any schedules hereto, unless otherwise stated or unless there is something in the subject matter or context inconsistent
therewith:

 

	(a)		"1933 Act" means the United States Securities Act of 1933, as amended;

 

	(b)		"1934 Act " means the United States Securities Exchange Act of 1934,
as amended;

 

	(c)		"Acquisition" means the acquisition of the Purchased Shares by the Purchaser
in exchange for the Consideration Shares;

 

	(d)		"Affiliate" means any person, partnership, joint venture, corporation or
other form of enterprise, which directly or indirectly controls, is controlled by, or is under common control with, a party to this Agreement.
For the purposes of the preceding sentence, "control" means possession, directly or indirectly, of the power to direct
or cause direction of management and policies through ownership of voting securities, contract, voting trust or otherwise;

 

	(e)		"Agreement" means this share purchase agreement, as amended from time to
time, and all Schedules which are incorporated by reference;

 

	(f)		"Applicable Laws" means all applicable federal, provincial, territorial,
state, regional and local laws (statutory or common), rules, ordinances (including zoning and mineral removal ordinances), regulations,
grants, concessions, franchises, licences, orders, directives, judgments, decrees, and other governmental restrictions, including permits
and other similar requirements, whether legislative, municipal, administrative or judicial in nature, including environmental laws and
Securities Laws;

 

	(g)		"Assets" means the Property, the Mineral Rights, the Minerals subject to
the Mineral Rights and the Existing Data and including, all associated licences, claims, leases, permits, lease agreements, royalties,
surface rights, real property rights, mill sites, tunnel sites, water rights, options or other contractual rights to acquire real property
or interests in the foregoing;

 

	(h)		"Athena Common Shares" means shares in the common stock of the Purchaser,
having a par value of $0.0001 each;

 

	(i)		"Benefit Plan" means all bonus, deferred compensation, incentive compensation,
share purchase, share option, stock appreciation, phantom stock, savings, profit sharing, severance or termination pay, health or other
medical, life, disability or other insurance (whether insured or self-insured), supplementary unemployment benefit, pension, retirement
and supplementary retirement plans, programs, agreements and arrangements, except for any statutory plans to which the corporation is
obliged to contribute or comply, or plans administered pursuant to applicable federal, state or provincial health, worker's compensation
and employment insurance legislation;

 

	(j)		"Business" means the business presently and heretofore carried on by the
Corporation, including mineral exploration and development, and the intangible goodwill associated therewith and any and all interests
of whatsoever kind and nature related thereto;

 

	(k)		"Business Day" means any day, other than a Saturday or Sunday, on which
banks in Vancouver, British Columbia or Reno, Nevada are open for commercial banking business during normal banking hours;

 

	(l)		"Closing" means the completion of the Acquisition;

 

	(m)		"Closing Date" means December 31, 2021 or such other date as may be agreed
to in writing by the Purchaser and the Vendor;

 

	(n)		"Commencement of Commercial Production" means the first day of the month
following the first 30 consecutive days during which Minerals have been produced from a mine at an average rate of not less than 65%
of the initial rated capacity if a plant is located on the Property or if no plant is located thereon, the last day of the first period
of 30 consecutive days during which ore has been shipped from the Property on a reasonably regular basis for the purpose of earning revenues,
whether to a plant or facility constructed for that purpose or to a plant or facility already in existence, but does not include the
production of Minerals from bulk sampling or milling for the purpose of testing or milling by a pilot plant;

 

 

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	(o)		"Consideration Shares" has the meaning ascribed thereto in Section 2.2;

 

	(p)		"Corporation" means Nubian Resources (USA) Ltd., a private corporation organized
under the laws of the state of Delaware;

 

	(q)		"Corporation's Contracts" means any contract, agreement (written or oral),
commitment, indenture, or other instrument to which the Corporation is bound and which is material to the Business, and which involves
a price, consideration or revenue stream of more than $5,000 in the aggregate, including those entered into in the ordinary course of
business, for any Benefits Plans, or which could materially affect the Assets, or Business or financial condition of the Corporation,
all as set forth in Schedule "D";

 

	(r)		"Corporation's Financial Statements" means the audited financial statements
for the Corporation for the financial years ended December 31, 2019 and 2020, together with the notes thereto and auditor's reports thereon,
and the reviewed financial statements for the Corporation for the three and nine month interim periods ended September 30, 2021, together
with the notes thereto, complete copies of which are attached as Schedule "E";

 

	(s)		"CSE" means the Canadian Securities Exchange;

 

	(t)		"documents" means all contracts, agreements, documents, permits, licences,
certificates, plans, drawings, specifications, reports, compilations, analysis, studies, financial statements, budgets, market surveys,
minute books, corporate records, corporate seals and any other documents or information of whatsoever nature and any and all rights in
relation thereto;

 

	(u)		"Encumbrance" means any mortgage, charge, pledge, hypothecation, security
interest, assignment, lien (statutory or otherwise), charge, title retention agreement or arrangement, exception, reservation, easement,
encroachment, right of occupation, right-of-way, right-of-entry, matter capable of registration against title, royalty, restrictive covenant
or other encumbrance or other adverse third party interest of any nature; (including any execution, seizure, attachment or garnishment
which binds property), regardless of form, whether or not registered or registrable and whether or not consensual or arising by any Applicable
Laws, and includes agreement to give or create any of the foregoing;

 

	(v)		"Existing Data" means all data, maps, information, reports, assays, drill
core and samples from or relating to the Property, in whatever form and including all geological, geophysical and geochemical data and
drill results, in the possession or under the control of the Vendor or the Corporation;

 

	(w)		"Existing Royalty" means a 2% net smelter returns royalty on the leased
patented claims that comprise a portion of the Mineral Rights granted to Christian W. Bramwell pursuant to a mining lease and option
to purchase dated June 2, 2005 and made between Bramwell and Maximus Ventures Ltd. ("Maximus"), as assigned by Maximus
to Walker Lane Gold LLC ("Walker") pursuant to an assignment and assumption agreement dated March 18, 2006 and further
assigned by Walker to Timberwolf Minerals Ltd. ("Timberwolf") pursuant to an assignment and assumption agreement dated
February 12, 2008, and further assigned by Timberwolf to ISC Copper Systems Ltd. pursuant to an assignment and assumption agreement dated
August 29 2010;

 

	(x)		"GAAP" or "Generally Accepted Accounting Principles" means
the generally accepted accounting principles from time to time approved in Canada by the Canadian Institute of Chartered Accountants,
or in the United States by the Financial Accounting Standards Board, as the case may be, or any successor institute, applicable as at
the date on which date such calculation is made or required to be made in accordance with generally accepted accounting principles applied
on a basis consistent with preceding years;

 

	(y)		"Governmental Authority" means any government in Canada, any government
in the United States of America, of any other government and any agency, or department, tribunal, board, commission, court or other authority
exercising or purporting to exercise executive, legislative, judicial, regulatory or administrative functions of, or pertaining to, government,
as well as any arbitrator, arbitration tribunal or other tribunal or other quasi-governmental or private body exercising any regulatory,
expropriation or taxation authority under or for the account of any of the foregoing, including any authority regulating the Business
and any stock exchange on which the securities of a Party are listed at the time;

 

	(z)		"Governmental Charges" means all fees, levies and charges imposed by a Governmental
Authority;

 

	(aa)		"Mineral Rights" means the mineral rights, interests and claims described
and depicted in Schedule "A";

 

 

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	(bb)		"Minerals" means all ores, intermediate products and concentrates or metals
derived from them, containing precious, base and industrial minerals and which are found in, on or under, mined or otherwise produced
and removed from the Property and may lawfully be explored for, mined and sold pursuant to the rights granted by the Mineral Rights and
other instruments of title under which any of the Mineral Rights are held;

 

	(cc)		"Nubian Royalty" means the 1% net smelter returns royalty to be granted
by the Purchaser to the Vendor upon the Closing relating to the Mineral Rights comprising the Property calculated and paid in accordance
with Schedule "B";

 

	(dd)		"Option Agreement" means the option agreement in respect of the Property
made as of December 11, 2020 among the Vendor, the Purchaser and the Corporation, as amended;

 

	(ee)		"Parties" means, collectively, the Vendor, the Purchaser and the Corporation,
and "Party" means any one of them; and where there is a reference to only two Parties, the Vendor and the Corporation
shall be treated as one Party and the Purchaser as the other Party;

 

	(ff)		"Permits" means all licences, permits and similar rights and privileges
that are required and necessary under applicable legislation, regulations, rules and orders for the relevant entity to own its assets
and operate its business or for the status and qualification of the relevant entity to carry on its business;

 

	(gg)		"Permitted Encumbrance" means: (i) any security given to a public utility
or any Governmental Authority when required in the ordinary course of business in connection with the Exploration Activities; (ii) any
reservations or exceptions contained in the claims or other original grant of rights underlying or related to the Mineral Rights as of
the date hereof; (iii) any encumbrance, right or royalty or Tax vested in favour of any Governmental Authority arising under Applicable
Laws or under the terms of any contract, mineral concession or licence as of the date hereof; (iv) any rights of way for, or reservations
or rights of others relating to, sewers, water lines, gas lines, pipelines, electric lines, telegraph and telephone lines and other similar
products or services; (v) the Existing Royalty; and (vi) the Nubian Royalty;

 

	(hh)		"person" means an individual, corporation, trust, partnership, limited liability
company, contractual mining company, joint venture, unincorporated organization, firm, estate, Governmental Authority or any agency or
political subdivision thereof, or other entity;

 

	(ii)		"Property" means the Mineral Rights and all other mineral property interests
derived from any such mineral claims. Any reference herein to any mineral claims or other mineral property interests comprised in the
Property includes any other interests into which such mineral claims or other mineral property interests may have been converted;

 

	(jj)		"Prospectus" means the prospectus included in any Registration Statement,
as amended or supplemented by any prospectus supplement, with respect to the terms of the offering of any portion of the Registrable
Securities covered by such Registration Statement and by all other amendments and supplements to the prospectus, including post-effective
amendments and all material incorporated by reference in such prospectus;

 

	(kk)		"Purchaser" or "Athena" means Athena Gold Corporation (formerly
Athena Silver Corporation), a corporation organized under the laws of the State of Delaware and which is a reporting issuer in British
Columbia;

 

	(ll)		"Purchase Price" means the purchase price payable by the Purchaser to the
Vendor for the Purchased Shares as further described in Section 2.2;

 

	(mm)		"Purchased Shares" means all of the issued and outstanding shares of the
Corporation as more particularly described in Recital B;

 

	(nn)		"Representatives" means, in respect of a Party, such Party's officers, directors,
employees, advisors (including legal, accounting and financial advisors), agents and other representatives;

 

 

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	(oo)		"Registrable Securities" means the aggregate of all Consideration Shares
and any other Athena Common Shares held by the Vendor as at the date of the effectiveness of the Registration Statement and any securities
issued or issuable with respect to or in exchange therefor, whether by merger, charter amendment or otherwise; provided, that, a security
shall cease to be a Registrable Security upon (i) sale pursuant to a Registration Statement or Rule 144 under the 1933 Act; or (ii) such
security becoming eligible for sale by the holder thereof (whether or not such holder is deemed to be an Affiliate of the Purchaser)
without the need for current public information or other restriction by the Vendor pursuant to Rule 144;

 

	(pp)		"Registration Statement" means any registration statement of the Purchaser
filed under the 1933 Act that covers the resale of any of the Registrable Securities pursuant to the provisions of this Agreement, amendments
and supplements to such Registration Statement, including post-effective amendments, all exhibits and all material incorporated by reference
in such Registration Statement;

 

	(qq)		"SEC" means the United States Securities and Exchange Commission;

 

	(rr)		"Securities Laws" means all applicable Canadian and United States federal
securities laws and the respective regulations made thereunder, together with applicable published fee schedules, prescribed forms, policy
statements, notices, orders, blanket rulings and other regulatory instruments of the securities regulatory authorities in such provinces
and all rules and policies of the CSE, the TSXV or such other stock exchange on which the securities of a Party are listed at the time;

 

	(ss)		"Taxes" means all federal, state, provincial, territorial, regional, county,
municipal, local or foreign taxes, duties, imposts, levies, assessments, tariffs and other charges imposed, assessed or collected by
a Governmental Authority, including: (i) any gross income, net income, gross receipts, business, royalty, capital, capital gains, goods
and services, value added, severance, stamp, franchise, occupation, premium, capital stock, sales and use, real property, land transfer,
personal property, ad valorem, transfer, licence, profits, windfall profits, environmental, payroll, employment, employer health,
pension plan, anti-dumping, countervail, customs or excise tax; (ii) all withholdings on amounts paid to or by the relevant person in
respect of taxes; (iii) all employment insurance premiums, government pension plan contributions or premiums; (iv) any fine, penalty,
interest, or addition to tax; (v) any tax imposed, assessed, or collected or payable pursuant to any tax-sharing agreement or any other
contract relating to the sharing or payment of any such tax, levy, assessment, tariff, duty, deficiency, or fee; and (vi) any liability
for any of the foregoing as a transferee, successor, guarantor, or by contract or by operation of Applicable Laws;

 

	(tt)		"Time of Closing" means 10:00 a.m., Vancouver time, on the Closing Date
or such other time as the Parties may agree in writing;

 

	(uu)		"TSXV" means the TSX Venture Exchange;

 

	(vv)		"Vendor" or "Nubian" means Nubian Resources Ltd., a corporation
organized under the laws of the Province of British Columbia and which is a reporting issuer in British Columbia, Alberta, Manitoba and
Ontario.

 

	1.2		Interpretation

 

For the purposes of this Agreement, except as
otherwise expressly provided or unless the context otherwise requires:

 

	(a)		the headings to the Articles, Sections or clauses of this Agreement are inserted for convenience
only and are not intended to affect the construction of this Agreement or any provision hereof;

 

	(b)		a reference to a numbered or lettered Article, Section, clause or Schedule refers to the
Article, Section, clause or Schedule bearing that number or letter in this Agreement, and a reference to "this Agreement",
"hereof", "hereunder", "herein" or words of similar meaning means this Agreement, including the Schedules
hereto, together with any amendments thereof;

 

	(c)		all dollar amounts expressed herein refer to the lawful currency of Canada. All payments
contemplated herein shall be by certified cheque or bank draft issued by a Canadian chartered bank or such other transfer of immediately
available funds as may be acceptable to the Parties;

 

 

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	(d)		a reference to a Party is to a party to this Agreement, and a reference to a Party includes
the Party's executors, administrators, successors and permitted assigns and substitutes;

 

	(e)		any reference to a corporate entity includes, and is also a reference to, any corporate entity
that is a successor to such entity;

 

	(f)		a reference to a statute includes all regulations made thereunder, all amendments to the
statute or regulations in force from time to time, and any statute or regulation that supplements or supersedes such statute or regulations;

 

	(g)		words importing the masculine gender include the feminine or neuter, words in the singular
include the plural, words importing a corporate entity include individuals, and vice versa;

 

	(h)		the word "or" is not exclusive and the word "including" is not limiting
(whether or not non-limiting language such as "without limitation" or "but not limited to" or other words of similar
import are used with reference thereto);

 

	(i)		if any date on which any action is required to be taken hereunder by any of the Parties is
not a Business Day, such action shall be required to be taken on the next succeeding day which is a Business Day; and

 

	(j)		the representations, warranties, covenants and agreements contained in this Agreement shall
not merge and shall continue in full force and effect from and after the date hereof for the applicable period set out in this Agreement.

 

	1.3		Knowledge

 

Where the phrase "to the knowledge"
is used in respect of a Party, such phrase shall mean, in respect of each representation and warranty or other statement which is qualified
by such phrase, that such representation and warranty or other statement is being made based upon the actual knowledge of the Chief Executive
Officer and Chief Financial Officer of the Party after due inquiry and investigation.

 

	1.4		Severability

 

If any provision of this Agreement is or becomes
illegal, invalid or unenforceable, in whole or in part, the remaining provisions shall nevertheless be and remain valid and subsisting
and the said remaining provisions shall be construed as if this Agreement had been executed without the illegal, invalid or unenforceable
portion.

 

	1.5		Entire Agreement

 

This Agreement and the Option Agreement constitutes
the entire agreement between the Parties pertaining to the subject matter hereof and supersedes all prior and contemporaneous agreements,
understandings, negotiations and discussions, whether oral or written, of the Parties, and there are no warranties, representations or
other agreements between the parties in connection with the subject matter hereof, except as specifically set forth herein. Notwithstanding
any other provision hereof, in the event of any inconsistency or conflict between the provisions of this Agreement and the Option Agreement,
the provisions of this Agreement shall prevail. No amendment, supplement, modification or termination of this Agreement shall be binding
unless executed in writing by the Party to be bound thereby.

 

	1.6		Schedules

 

Appended hereto are the following schedules, which
are incorporated into this Agreement by reference and are deemed to be a part hereof:

 

Schedule "A"Description of
Property

Schedule "B"Net Smelter Returns Royalty

Schedule "C"Corporation's Contracts

Schedule "D"Corporation's Financial Statements

 

 

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Article 2

PURCHASE OF PURCHASED SHARES

 

	2.1		Purchase of Purchased Shares

 

Subject to the terms and conditions hereof, the
Purchaser agrees to purchase, and the Vendor agrees to sell, assign and transfer to the Purchaser, the Purchased Shares for the Purchase
Price as determined by the provisions of Sections 2.2 and 2.3.

 

	2.2		Purchase Price

 

The Purchase Price for the Purchased Shares shall
be $2,250,000, payable as an aggregate of 45,000,000 Athena Common Shares at a deemed issue price of $0.05 per Athena Common Share (the "Consideration
Shares").

 

	2.3		Payment of the Purchase Price

 

At the Time of Closing, the Purchaser shall allot,
issue and deliver the Consideration Shares to the Vendor in accordance with the provisions hereof.

 

	2.4		Reliance on Prospectus and Registration Exemptions; Exchange Escrow

 

	(a)		The Vendor acknowledges and agrees that the Consideration Shares are being issued pursuant
to an exemption from the prospectus and registration requirements of the Securities Laws. As a result, the holders of the Consideration
Shares shall not be entitled to certain protections, rights and remedies available under the Securities Laws, including statutory rights
of rescission or damages, and the holders shall not receive information that would otherwise be required to be provided to the holders
pursuant to the Securities Laws.

 

	(b)		The Vendor acknowledges and agrees that (i) the Consideration Shares have not been registered
under the 1933 Act or any state Securities Laws and the Purchased Securities may not be offered, sold, pledged or otherwise transferred
unless registered under the 1933 Act and the Securities Laws of all applicable states of the United States or an exemption from such
registration requirements is available, and (ii) except as otherwise provided by Section 9.1, the Corporation has no obligation
or present intention of filing a registration statement under the 1933 Act or applicable state Securities Laws in respect of the Purchased
Securities, and in compliance with all applicable state Securities Laws.

 

	(c)		The Vendor acknowledges and agrees that the issuance of the Consideration Shares is subject
to the policies, rules and regulations of the CSE and Applicable Laws and securities regulations. The Vendor consents to the filing by
the Purchaser of all such documents as may be required under all Securities Laws with respect to the issuance of the Consideration Shares.

 

	2.5		Resale Restrictions

 

	(a)		The Vendor acknowledges and agrees that, to the extent that the Consideration Shares shall
be subject to resale restrictions under Securities Laws, then the terms of such resale restrictions shall be endorsed on the certificates
representing such Consideration Shares as a printed legend, and the Consideration Shares may not be sold, transferred or otherwise disposed
except in accordance with exemptions from, or in a transaction not subject to, the prospectus and registration requirements of the Securities
Laws and in each case only in accordance with all Securities Laws. The Vendor agrees to comply with such resale restrictions.

 

	(b)		The certificates representing the Consideration Shares (and any certificates issued in exchange
therefor or substitution thereof) shall bear a legend substantially in the form of the following legend:

 

UNLESS PERMITTED
UNDER SECURITIES LEGISLATION, THE HOLDER OF THIS SECURITY MUST NOT TRADE THE SECURITY BEFORE [INSERT THE DATE THAT IS FOUR MONTHS
AND A DAY AFTER THE DISTRIBUTION DATE].

 

 

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THESE SECURITIES
HAVE NOT AND WILL NOT BE REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE "1933 ACT"), OR THE SECURITIES LAWS
OF ANY STATE OF THE UNITED STATES. THESE SECURITIES MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT (1) IN COMPLIANCE
WITH REGULATION S UNDER THE 1933 ACT, (2) PURSUANT TO REGISTRATION UNDER THE 1933 ACT, OR (3) PURSUANT TO AN AVAILABLE EXEMPTION FROM
REGISTRATION UNDER THE 1933 ACT, AND, IN EACH CASE, IN COMPLIANCE WITH ALL APPLICABLE STATE SECURITIES LAWS, AFTER THE SELLER FURNISHES
TO THE CORPORATION AN OPINION OF COUNSEL OF RECOGNIZED STANDING OR OTHER EVIDENCE OF EXEMPTION IN FORM AND SUBSTANCE REASONABLY SATISFACTORY
TO THE CORPORATION TO SUCH EFFECT. HEDGING TRANSACTIONS INVOLVING SUCH SECURITIES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE
1933 ACT. DELIVERY OF THIS CERTIFICATE MAY NOT CONSTITUTE "GOOD DELIVERY" IN SETTLEMENT OF TRANSACTIONS ON STOCK EXCHANGES
IN CANADA.

 

	2.6		Purchase of Entire Interest

 

It is the understanding of the Parties that this
Agreement shall provide for the purchase of all of the Purchased Shares that are owned by the Vendor at the Time of Closing, whether same
are owned as at the date hereof or to be acquired after the date hereof, and the Vendor covenants and agrees with the Purchaser that if
prior to the Closing Date it acquires any further shares in the Corporation or rights to acquire any shares in the Corporation, in addition
to those set forth in this Agreement, then such additional shares of the Corporation shall be part of the Purchased Shares and shall be
subject to the terms of this Agreement, and such shares shall be delivered or such rights shall be transferred to the Purchaser at the
Time of Closing, without the payment of any additional or further consideration.

 

	2.7		Delivery of Purchased Shares

 

Subject to the fulfillment of all of the terms
and conditions hereof (unless waived as herein provided), at the Time of Closing, the Vendor shall deliver to the Purchaser the certificate(s)
representing the Purchased Shares duly endorsed for transfer to the Purchaser, together with such other documentation as contemplated
in Section 5.1.

 

	2.8		Payment of Purchase Price

 

Subject to the fulfillment of all of the terms
and conditions hereof (unless waived as herein provided), at the Time of Closing, the Purchaser shall deliver to the Vendor a share certificate
or DRS transaction advice representing the Consideration Shares, together with such other documentation as contemplated in Section 5.2.

 

	2.9		Distribution of Athena Shares by the Vendor

 

The Vendor hereby covenants and undertakes to
use commercially reasonable efforts to transfer and distribute all Athena Common Shares that it holds immediately after Closing to its
shareholders, pro rata, within sixty days following the later of the effective date of the Registration Statement filed by the Purchaser
for the registration of Registrable Securities by the Purchaser, and the first date on which the Vendor has held all such Athena Common
Shares for at least four months, provided that such transfer and distribution (i) can be effected in accordance with Applicable Laws and
the rules and policies of any applicable stock exchange on which the Vendor’s shares are then listed, and (ii) is exempt from the
requirements to file a prospectus or deliver an offering memorandum (as defined in applicable Securities Laws) or any similar document
under applicable Securities Laws relating to the sale, transfer or distribution the Athena Common Shares, or the Vendor has received such
orders, consents or approvals as may be required to permit such transfer and distribution without the requirement of filing a prospectus
or delivering an offering memorandum or any similar document.

 

	2.10		Adjustments

 

Notwithstanding any other provision in this Agreement,
the number of Consideration Shares to be issued to the Vendor pursuant to this Agreement shall be adjusted as necessary to reflect any
stock split, stock dividend, share consolidation or other alterations to the Athena Common Shares.

 

 

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	2.11		Termination of Option Agreement

 

Effective as of the Time of Closing, the Option
Agreement shall be terminated, and, notwithstanding any provision of the Option Agreement to the contrary, neither the Purchaser nor any
of the Vendor or the Corporation, nor any of their respective Affiliates, shall have any further liability or obligation under the Option
Agreement; provided, however, that for the avoidance of doubt, termination of the Option Agreement shall not affect the right of the Vendor
to the 5,000,000 (pre-consolidation) shares of common stock of the Purchaser pursuant to the Purchaser’s exercise of the First Option
(as defined in the Option Agreement). Effective as of Closing, each of the Purchaser, the Vendor and the Corporation, for itself and its
Affiliates, releases all rights, claims, actions and causes of action it may have against the other or others under or arising out of
the Option Agreement, known or unknown, now or hereafter arising, except with respect to the above-mentioned 5,000,000 (pre-consolidation)
shares of common stock of the Purchaser s. Until such time as the Option Agreement is terminated pursuant to this Section 2.11, it shall
remain in full force and effect in accordance with its terms.

 

Article 3

REPRESENTATIONS AND WARRANTIES

 

	3.1		Representations and Warranties of the Vendor

 

To induce the Purchaser to enter into this Agreement
and complete the transactions contemplated hereby, the Vendor represents and warrants to and in favour of the Purchaser as provided in
this Section 3.1. The Vendor confirms that the Purchaser is relying upon the accuracy of each of such representations and warranties
in connection with the purchase of the Purchased Shares and the completion of the other transactions hereunder:

 

Authority; Execution and Delivery - Vendor

 

	(a)		the Vendor has good right, full power and absolute authority to enter into this Agreement
and to sell, assign and transfer the Purchased Shares to the Purchaser in the manner contemplated herein and to perform all of the Vendor's
obligations under this Agreement;

 

	(b)		the execution and delivery of this Agreement by the Vendor and the consummation of the transactions
contemplated hereby has been duly authorized by the directors of the Vendor and do not constitute a breach or a default under the terms
of the articles, by-laws or other constating documents of the Vendor, nor under any agreement to which the Vendor is a party or by which
it is bound and is legally binding upon the Vendor and enforceable in accordance with its terms;

 

	(c)		no consents of, filings with or approval of any Governmental Authority is required by the
transactions contemplated by this Agreement;

 

	(d)		there is no suit, action, litigation, arbitration proceeding or governmental proceeding,
including appeals and applications for review, in progress or, to the knowledge of the Vendor, threatened against or related to the Vendor,
the Corporation or the Purchased Shares or which would affect the Vendor's ability to sell the Purchased Shares as provided for in this
Agreement;

 

	(e)		each of the documents that the Vendor has publicly filed with the securities regulatory authorities
in Canada since January 1, 2019, is materially accurate and complete and, if applicable, complies with the requirements as to form that
apply to such document and, except to the extent modified by subsequently filed documents, contains no "misrepresentation"
within the meaning of the Securities Act (British Columbia);

 

Miscellaneous - Vendor

 

	(f)		the Vendor is not a of Canada, as such word is defined in the Income Tax Act (Canada);

 

	(g)		the Vendor has not incurred any obligation or liability, contingent or otherwise for broker's
or finder's fees in respect of the transactions contemplated by this Agreement;

 

	(h)		neither the Vendor nor the Corporation is registered or required to be registered as an investment
company within the meaning of the United States Investment Company Act of 1940, as amended;

 

    	 	9	 

     

    

 

Authority; Execution and Delivery – Corporation

 

	(i)		the Corporation has good right, full power and absolute authority to enter into this Agreement
and to perform all of the Corporation's obligations under this Agreement;

 

	(j)		the execution and delivery of this Agreement by the Corporation and the consummation of the
transactions contemplated hereby has been duly authorized by the directors of the Corporation and do not constitute a breach or a default
under the terms of the articles, by-laws or other constating documents of the Corporation, nor under any agreement to which the Corporation
is a party or by which it is bound and is legally binding upon the Corporation and enforceable in accordance with its terms;

 

	(k)		all necessary corporate action shall have been taken by the Corporation at or prior to the
Time of Closing to authorize the transfer of the Purchased Shares to the Purchaser, which actions shall not have been amended or revoked
at the time of transfer of such shares;

 

Due Incorporation, Capitalization, Allotment
and Issuance of Shares

 

	(l)		the Corporation has been duly incorporated and organized pursuant to the provisions of the
laws of the State of Delaware and is in good standing in filing all returns and notices required pursuant to the laws of Delaware and
any other jurisdiction where such registration is necessary for the business of the Corporation;

 

	(m)		the authorized share capital of the Corporation consists of 754,385 common shares, all of
which have been validly issued and are outstanding as fully paid and non-assessable, and there are no outstanding securities of the Corporation
which are convertible into common shares of the Corporation and no outstanding options or rights to subscribe for the issuance of or
receive any shares in the capital of the Corporation;

 

	(n)		the sole registered and beneficial shareholder of the Corporation is the Vendor and the Vendor
has good, marketable, beneficial and/or recorded title to the Purchased Shares, free of all Encumbrances and no person, firm or corporation
has any agreement or option or right capable of becoming an agreement or option for the purchase from the Vendor of any of the Purchased
Shares except as provided herein. The Purchased Shares are not and shall not be subject to any shareholder, pooling, escrow or similar
agreements, except as contemplated herein;

 

Subsidiaries

 

	(o)		the Corporation does not have any wholly or partially owned subsidiary bodies corporate and
no obligation to wholly or partially acquire the shares of any body corporate;

 

Directors and Officers

 

	(p)		the following is a complete list of the directors and officers of the Corporation as at the
date hereof and the following shall be the only directors and officers of the Corporation and the Subsidiaries of the Corporation at
the Time of Closing:

 

	Name	Position
	David Fynn	Director and Secretary
	Martin Walter	Director and President

 

Employees

 

	(q)		the Corporation does not have any employees or consultants. Since, August 1, 2018, no payments
have been made or authorized by the Corporation to its officers, directors, shareholders or employees or former officers, directors,
shareholders or employees, or to any person or company not dealing at arm's length (as such term is defined in the Income Tax Act
(Canada)), except salaries, consulting fees, management fees, a reimbursement of expenses payable in the ordinary course or as disclosed
in the Purchaser's Financial Statements;

 

 

    	 	10	 

     

    

 

Business of the Corporation

 

	(r)		the Business of the Corporation has been and shall continue to be until the Closing Date
carried on in the ordinary and normal course subject to the terms hereof. The Corporation shall not enter into or assume any agreement
other than those which are made in the ordinary course of business or which would not create a material change in the Business or financial
affairs of the Corporation, without the prior written consent of the Purchaser, such consent not to be unreasonably withheld;

 

	(s)		the Corporation has the corporate power to acquire and hold mining claims in the State of
Nevada and to carry on the Business presently carried on by it;

 

	(t)		the Corporation is duly qualified to do business and is in good standing in each jurisdiction
in which the nature of the Business conducted by it or the property owned or leased by it makes such qualification necessary;

 

	(u)		the Corporation holds all Permits necessary to carry out its Business and the present status
of the Corporation does not violate the terms of such Permits and the use of the Assets is not in breach of any statute, by-law, ordinance,
regulation, covenant or restitution;

 

	(v)		the Corporation is not in material breach of any provision, nor has it received current notice
and is not otherwise aware of, any existing default under any material document to which the Corporation is a party;

 

	(w)		each of the Corporation's Contracts are disclosed in Schedule "D". Each such
contract is in full force and effect in accordance with the terms thereof and, to the knowledge of the Vendor, the Corporation is not
in default under any such contract, there is no outstanding notice of cancellation or termination in connection therewith, nor, to the
knowledge of the Vendor, does there exist any event or circumstance which through the passage of time or which as a result of a notice
by a third party would become a material default by the Corporation under any such contract;

 

	(x)		the Assets owned or leased by the Corporation are adequate for the conduct of its Business
as presently conducted and include all proprietary rights, trade secrets and other property and assets, tangible and intangible, applicable
to or used in connection with the Business. The Corporation is not a party to any contract or commitment that would limit its freedom
to compete in any line of business or with any person or in any geographical area or otherwise to conduct its Business as currently conducted
and as proposed to be conducted. There exist no facts or circumstances which could materially and adversely effect the ability of the
Corporation to continue its Business substantially as presently conducted following the completion of the transactions contemplated by
this Agreement;

 

	(y)		no other persons other than the Corporation own any assets which are being used in the Business
and there are no agreements or commitments by the Corporation to purchase property or assets, other than in the ordinary course of the
Business;

 

	(z)		there has been no material adverse change in the legal and beneficial ownership of the Assets;

 

	(aa)		the Assets are not subject to reduction by virtue of the conversion or other alteration of
the interest of any third party under existing agreements created by, through or under the Corporation;

 

	(bb)		neither the Corporation nor the Vendor has received any notice of or has any knowledge that
any of the Corporation's Contracts shall be terminated either as a result of the transaction contemplated by this Agreement or otherwise;

 

	(cc)		the Vendor is not aware of any "material fact" or "material change" (as
those terms are defined in the Securities Act (British Columbia)) in the affairs of the Vendor or the Corporation that has not
been generally disclosed to the public, save knowledge of this particular transaction;

 

 

    	 	11	 

     

    

 

Property

 

	(dd)		no person, firm or corporation other than the Purchaser has any written or oral agreement,
arrangement or option or any right or privilege (whether by law, pre-emptive or contractual) capable of becoming an agreement, arrangement
or option for the purchase or acquisition of the Corporation, the Property or the other Assets or any interest therein, other than the
Purchaser pursuant to the Option Agreement;

 

	(ee)		the Mineral Rights are properly and accurately described and depicted in Schedule "A"
and the Mineral Rights have been duly and validly issued, acquired (as applicable), located and recorded in compliance to all Applicable
Laws and are currently in good standing;

 

	(ff)		the Corporation is the sole and legal owner of a 90% undivided interest in and to the Property
and the other Assets and has good and marketable title to such interest in and to the Property and the other Assets, free and clear of
all Encumbrances other than Permitted Encumbrances. For clarity and subject to any Permitted Encumbrances, other than the Corporation
and the Purchaser hereunder and pursuant to the Option Agreement, no person has any right, royalty earn-in, or other interest whatsoever,
or, any agreement or commitment to acquire any such interest, in the Mineral Rights or the other Assets, or in any production or profits
from the Property;

 

	(gg)		no shareholder agreement, investment agreement, or any other agreement exists, including
between the Vendor and the Corporation, that affects the Mineral Rights or the ability of the Corporation to conduct exploration or development
activities on the Property in any way;

 

	(hh)		the terms of the Mineral Rights, the other Assets and Applicable Laws allow for access to
the surface area covered by the Mineral Rights and as reasonably necessary to carry out all exploration activities;

 

	(ii)		all work or expenditure obligations applicable to the Property and the other Assets, all
statements and reports of the work or expenditures and other requirements to be satisfied or filed to keep the Property and the other
Assets in good standing have been satisfied or filed (and all applicable expiry dates extended);

 

	(jj)		all Taxes applicable to, or imposed on, the Property and the other Assets, or in connection
with holding the Property and the other Assets, which were due to be paid on or before the date hereof have been submitted and paid in
full. Without limiting the generality of foregoing, all federal annual mining claim maintenance fees relating to the Property have been
paid properly and timely and affidavits of payment of such fees and notices of intent to hold have been recorded properly and timely;

 

	(kk)		the Property does not lie within any protected area, rescued area, reserve, reservation,
reserved area, environmental or historic protected area, or special needs lands as designated by any Governmental Authority having jurisdiction
that would materially and adversely impair the exploration for Minerals or the development of a mining project on the Property;

 

	(ll)		there are no actual, alleged or, to its knowledge, potential claims, challenges, suits, actions,
prosecutions, investigations or proceedings against or to, the ownership of, or title to, the Property or the other Assets, nor, to knowledge
of the Vendor, after due investigation, is there any basis for any of the foregoing;

 

	(mm)		neither the Vendor nor the Corporation has notice, or knowledge of, any proposal to terminate
or vary the terms of, or rights attaching to, the Mineral Rights or the other Assets from any Governmental Authority;

 

	(nn)		the Corporation has conducted all operations in Nevada in compliance with all Applicable
Laws (including any applicable environmental laws and foreign corrupt practices legislation), and no condition exists or event has occurred
which, with or without notice or the passage of time or both, would constitute a violation of or give rise to liability under any environmental
laws applicable to the Corporation or the Purchaser;

 

	(oo)		no activity of the Vendor or the Corporation on the Property has been in violation of any
environmental law, regulations or regulatory prohibition or order, and conditions on and relating to the Property or the other Assets;

 

	(pp)		there has been no spill, discharge, leak, emission, ejection, escape, dumping, or any release
or threatened release of any kind by the Vendor or the Corporation of any toxic or hazardous substance or waste (as defined by any Applicable
Laws) from, on, in or under the Property, except as permitted by, and in material compliance with, Applicable Laws;

 

 

    	 	12	 

     

    

 

	(qq)		no toxic or hazardous substance or waste has been disposed of, treated on, or is located
or stored on the Property by the Vendor or the Corporation, except as permitted by, and in material compliance with, Applicable Laws;

 

	(rr)		there are no outstanding material orders, notices or similar requirements relating to the
Property or the other Assets issued by any federal, state, provincial or municipal Governmental Authority including occupational health
and safety authorities and there are no matters under discussion with any such authorities relating to orders, notices or similar requirements;

 

	(ss)		there are no outstanding obligations or liabilities, contingent or otherwise, under any Applicable
Laws (environmental, mining or otherwise), including reclamation or rehabilitation work, associated with the Property or arising out
of past exploration, development and/or mining activities carried out thereon, nor is the Vendor aware of any basis therefor;

 

	(tt)		the Vendor has made available to the Purchaser all requested material maps, assays, surveys,
drill logs, samples, metallurgical, geological, geophysical, geochemical and engineering data within its possession in respect of the
Property;

 

Bankruptcy and Insolvency Matters

 

	(uu)		no action or proceeding has been commenced or filed by or against the Corporation which seeks
or may lead to receivership, bankruptcy, a commercial proposal or similar proceeding, of the Corporation, the adjustment, compromise
or composition of claims against it or the appointment of a trustee, receiver, liquidator, custodian, or other similar officer for the
Corporation or any portion of the Assets. No such action or proceeding has been authorized or is being considered by or on behalf of
the Corporation and no creditor or equity security holder of the Corporation has threatened to commence or advise that it may commence
any such action or proceeding;

 

	(vv)		the Corporation has not made nor is it considering making an assignment for the benefit of
its creditors, and has not requested nor has it considered requesting a meeting of its creditors to seek a reduction, compromise, composition,
or other accommodation with respect to its indebtedness;

 

	(ww)		the Corporation has not entered into this Agreement with actual intent to hinder, delay or
defraud present or future creditors of the Corporation;

 

Indebtedness and Guarantees

 

	(xx)		the Corporation is not a party to any agreement of guarantee, indemnification or assumption
of the obligations of a third party, or other like commitment, contingent or otherwise, including endorsements or other contingent liabilities,
except as disclosed in the Corporation's Financial Statements or otherwise disclosed in writing to the Purchaser;

 

	(yy)		the Corporation does not have outstanding, any bonds, debentures, mortgages, promissory notes
or other evidence of indebtedness and the Corporation is not bound under any agreement to create or issue any bonds, debentures, mortgages,
promissory notes or other indebtedness, except as disclosed in the Corporation's Financial Statements;

 

Financial Statements

 

	(zz)		the Corporation's Financial Statements truly and fairly present in all material respects
the assets and liabilities of the Corporation and its financial position as at the dates thereof, and, in particular, without limiting
the generality of the foregoing, include all liabilities or obligations of any nature, whether accrued, contingent or otherwise, and
whether due or to become due as at the dates of the Corporation's Financial Statements. Since the date of the Corporation's Financial
Statements there has not been any material adverse change in the financial position of the Corporation on a consolidated basis, computed
on a basis consistent with that used in the preparation of the balance sheet included in such Corporation's Financial Statements;

 

	(aaa)		the Corporation's Financial Statements have been prepared in accordance with GAAP, applied
on a consistent basis;

 

 

    	 	13	 

     

    

 

	(bbb)		the Corporation's Financial Statements do not contain any untrue statement of fact and do
not omit to state any fact required to be stated to make the Corporation's Financial Statements not materially misleading;

 

	(ccc)		all accounts receivable, book debts and other debts reflected in the records and Corporation's
Financial Statements as due or accruing due are good and collectable subject to an allowance for doubtful accounts;

 

	(ddd)		there are no liabilities or obligations of the Corporation, either accrued, absolute, contingent
or otherwise, except:

 

	(i)		liabilities set forth in the Corporation's Financial Statements and not heretofore paid or
discharged;

 

	(ii)		liabilities arising in the ordinary course of business under any contract which is either
specifically disclosed as a schedule to this Agreement or not required to be disclosed because of the term or amount involved or otherwise;

 

	(iii)		liabilities incurred, consistent with past business practice, in or as a result of the normal
or ordinary course of business since the date of the Corporation's Financial Statements; and

 

	(iv)		for the purposes hereof the term "liabilities" shall include, without limitation,
any direct or indirect indebtedness, guaranty, endorsement, claim, loss, damage, deficiency, cost, expense, obligation or responsibility,
known or unknown, fixed or unfixed, choate or inchoate, liquidated, unliquidated, secured or unsecured;

 

Absence of Certain Changes or Events

 

	(eee)		since the date of the Corporation's Financial Statements, the Corporation has not:

 

	(i)		incurred any obligation or liability, fixed or contingent, except normal trade or business
obligations incurred in the ordinary course of the Business, none of which is materially adverse to the Corporation;

 

	(ii)		paid or satisfied any obligation or liability, fixed or contingent, except:

 

	(A)		current liabilities included in the Corporation's Financial Statements;

 

	(B)		current liabilities incurred since the date of the Corporation's Financial Statements in
the ordinary course of the Business; and

 

	(C)		re-scheduled payments pursuant to obligations under loan agreements or other contracts or
commitments described in the Corporation's Financial Statements;

 

	(iii)		created any material encumbrance upon any of its properties or the Assets;

 

	(iv)		sold, assigned, transferred, leased or otherwise disposed of any of its material properties
or assets, except in the ordinary course of the Business;

 

	(v)		purchased, leased or otherwise acquired any material properties or assets, except in the
ordinary course of the Business;

 

	(vi)		waived, cancelled or written-off any rights, claims, accounts receivable, any amounts payable
to the Corporation, except in the ordinary course of the Business;

 

	(vii)		enterved into any transaction, contract, agreement or commitment, except in the ordinary course
of the Business;

 

	(viii)		made any material change with respect to any method of management, operation or accounting
in respect of the Business;

 

	(ix)		suffered any damage, destruction or loss (whether or not covered by insurance) which has
materially adversely affected or could materially adversely affect the Business or the condition of the Corporation;

 

	(x)		suffered any extraordinary loss relating to the Business or the Assets; or

 

	(xi)		authorized, agreed or otherwise become committed to do any of the foregoing;

 

 

    	 	14	 

     

    

 

Governmental Matters

 

	(fff)		the Corporation has duly and on a timely basis prepared and filed all documents required
to be filed by it in respect of all Governmental Charges and such returns and documents are complete and correct and clearly and fairly
represents the information and relevant status of the Corporation for the relevant period;

 

	(ggg)		the Corporation has paid all Governmental Charges which are due and payable on or before
the date hereof. Adequate provision was made in the Corporation's Financial Statements for all Governmental Charges for the periods covered
by the Corporation's Financial Statements. The Corporation has no liability for Governmental Charges other than those provided for in
the Corporation's Financial Statements and those arising in the ordinary course of the operation of the Business since the date of the
Corporation's Financial Statements and for which adequate provisions have been made on the books of the Corporation;

 

	(hhh)		there are no actions, suits, proceedings, investigations, enquiries or claims now pending
or made or, to the knowledge of the Vendor, after due investigation, threatened against the Corporation in respect of Governmental Charges;

 

	(iii)		there are no Governmental Charges, assessments, re-assessments, or levies of whatsoever nature
which the Corporation is required or shall or could be required by law to withhold, collect or pay and for which the Purchaser could
become liable, except as disclosed in the Corporation's Financial Statements;

 

	(jjj)		all Governmental Charges, assessments, levies and source deductions which the Corporation
is required by law to withhold or to collect, have been, the knowledge of the Vendor, duly withheld or collected, and paid over to the
proper Governmental Authorities, or held by the Corporation or on behalf of it as required, and such withholdings and collections and
all other payments due in connection therewith are duly reflected in the Corporation's Financial Statements to the date as of which they
were prepared and since that date shall be duly entered in the accounts of the Corporation;

 

	(kkk)		there are no agreements, waivers or other arrangements providing for any extension of time
with respect to the filing of any tax return or other document or the payment of any Governmental Charges by the Corporation;

 

	(lll)		all returns of the Corporation for capital, excise, sales or use tax required to be filed
by the Corporation before the Closing Date shall be fully prepared and filed before the Closing Date and all such Governmental Charges
of every kind and description due or payable against or payable by the Corporation prior to the Closing Date in respect of the Corporation
shall be fully paid;

 

Taxes

 

	(mmm)		the Corporation has paid all Taxes exigible from it or for the collection of which it is
responsible, in the case of taxes on income, in respect of all periods ended on or prior to July 31, 2021 and, in the case of all other
Taxes, in respect of all periods ended prior to the Time of Closing, for which such Taxes were due and payable prior to the Time of Closing;

 

	(nnn)		except as disclosed in the Corporation's Financial Statements, there are no Taxes which the
Corporation is required or shall or could be required by law to withhold, collect or pay and for which the Purchaser could become liable,
including, but without limiting the generality of the foregoing, unemployment insurance, pension plan payments, non-resident withholding
tax or similar assessments, except as disclosed in the Corporation's Financial Statements;

 

	(ooo)		all Taxes which the Corporation is required by law to withhold or to collect, including unemployment
insurance, pension plan payments and non-resident withholding tax, have been duly withheld or collected, and have been paid over to the
proper governmental authorities, or held by the Corporation or on behalf of the Corporation and such withholdings and collections and
all other payments due in connection therewith are duly reflected in all material respects in the Corporation's Financial Statements
to the date as of which they were prepared and since that date shall be duly entered in the accounts of the Corporation;

 

 

    	 	15	 

     

    

 

Litigation

 

	(ppp)		there are no judgments unsatisfied against the Vendor or the Corporation or any consent decrees
or injunctions to which the Vendor or the Corporation is subject or bound and there are no actions, suits or proceedings (whether or
not purportedly on behalf of the Vendor or the Corporation) commenced, pending or, to the knowledge of the Vendor, threatened against
or affecting either of the Vendor or the Corporation at law or in equity or before or by any federal, provincial, municipal or other
governmental department, commission, board, bureau, agency or instrumentality, domestic or foreign, which action, suit or proceeding
involves the possibility of any judgment against or liability of the Purchaser. Neither the Vendor nor the Corporation is aware of any
existing ground on which any such action, suit or proceeding might be commenced with any reasonable likelihood of success;

 

	(qqq)		Neither the Vendor nor the Corporation is subject to any judgment, order, writ, injunction
or decree of any Governmental Authority which would prevent the carrying out of this Agreement or consummation of the transactions herein
contemplated;

 

Books and Records

 

	(rrr)		the minute book of the Corporation contains complete and accurate minutes of all meetings
of the directors and shareholders of the Corporation held since its incorporation, all such meetings were duly called and held and all
registers therein are complete and accurate in all material respects;

 

	(sss)		the books and records of the Corporation fairly and correctly set out and disclose in all
material respects, in accordance with GAAP, consistently applied, the financial position of the Corporation as at September 30, 2021
and all material financial transactions of the Corporation have been accurately recorded in all material respects in such books and records,
and without limiting the generality of the foregoing, the Corporation has no outstanding debt obligations or liabilities other than those
disclosed in the Corporation's Financial Statements or incurred in the ordinary course of business or the completion of the Acquisition
subsequent to the preparation of the Purchaser's Financial Statements;

 

Records and Data

 

	(ttt)		the Vendor shall cause the Corporation to make available, and by the Time of Closing shall
have made available, to the Purchaser or the Purchaser's Representatives for inspection, all documents which the Purchaser shall reasonably
require and which is in the possession and control of the Vendor and the Corporation which are material to and are pertaining to or affecting
the Corporation or the Assets and the title of the Corporation thereto, and the Vendor shall not knowingly withhold any material documents
or information reasonably required to make not misleading the documents and information so made available to the Purchaser;

 

	(uuu)		all information, records and data furnished to the Purchaser, its Representatives and legal
counsel pursuant to Section 3.1(sss) are, to the knowledge of the Vendor, after due enquiry, accurate in all material respects;
and

 

Accuracy and Completeness

 

	(vvv)		The covenants, representations and warranties of the Vendor contained in this Section 3.1
and elsewhere in this Agreement, and in any certificate or other material delivered under this Agreement, are accurate and complete in
all material respects, do not contain any untrue statement of any material facts or, considered in the context in which presented, omit
to state a material fact necessary in order to make the statements and information contained herein and therein not misleading.

 

	3.2		Representations and Warranties of the Purchaser

 

The Purchaser represents and warrants to the Vendor
that:

 

	(a)		the Purchaser has good right, full power and absolute authority to enter into this Agreement
and to purchase the Purchased Shares from the Vendor in the manner contemplated herein and to perform all of the Purchaser's obligations
under this Agreement;

 

 

    	 	16	 

     

    

 

	(b)		the execution and delivery of this Agreement by the Purchaser and the consummation of the
transactions contemplated hereby has been duly authorized by the directors of the Purchaser and do not constitute a breach or a default
under the terms of the articles, by-laws or other constating documents of the Purchaser, nor under any agreement to which the Purchaser
is a party or by which it is bound and is legally binding upon the Purchaser and enforceable in accordance with its terms;

 

	(c)		there is no suit, action, litigation, arbitration proceeding or governmental proceeding,
including appeals and applications for review, in progress or, to the knowledge of the Purchaser, threatened against or related to the
Purchaser or which would affect the Purchaser's ability to purchase the Purchased Shares as provided for in this Agreement;

 

	(d)		each of the documents that the Purchaser has publicly filed with the securities regulatory
authorities in Canada and the United States since August 1, 2020, is materially accurate and complete and, if applicable, complies with
the requirements as to form that apply to such document and, except to the extent modified by subsequently filed documents, contains
no "misrepresentation" within the meaning of the Securities Act (British Columbia);

 

	(e)		the Corporation has been duly incorporated and organized pursuant to the provisions of the
laws of the State of Delaware and is in good standing in filing all returns and notices required pursuant to the laws of Delaware and
any other jurisdiction where such registration is necessary for the business of the Corporation;

 

	(f)		the authorized capital stock of the Purchaser consists of 100,000,000 shares of common stock
having a par value of $0.0001 each, and 5,000,000 shares of preferred stock having a par value of $0.0001 each, of which 74,858,700 shares
of common stock and no shares of preferred stock are issued and outstanding as of the date of this Agreement;

 

	(g)		the Consideration Shares issued to the Vendor at Closing shall be validly issued and outstanding,
fully paid and non-assessable; and

 

	(h)		The covenants, representations and warranties of the Purchaser contained in this Section 3.2
and elsewhere in this Agreement, and in any certificate or other material delivered under this Agreement, are accurate and complete in
all material respects, do not contain any untrue statement of any material facts or, considered in the context in which presented, omit
to state a material fact necessary in order to make the statements and information contained herein and therein not misleading.

 

	3.3		Survival of Representations and Warranties

 

The representations and warranties in Sections 3.1
and 3.2 shall survive Closing, in accordance with the following provisions:

 

	(a)		the representations and warranties relating to Tax liability shall, unless based upon any
misrepresentation made or fraud committed in filing a return or supplying information for the purposes of the Income Tax Act (Canada),
as amended, or any other legislation imposing Tax, continue in full force and effect until the expiration of the last of the limitation
periods contained in the Income Tax Act (Canada), as amended, and any other applicable legislation imposing Tax, subsequent to
the expiration of which an assessment, reassessment or other form of recognized document assessing liability for Tax, interest or penalties
thereunder for the period ended on the Closing Date cannot be issued;

 

	(b)		the representations and warranties relating to Tax liability and based upon any misrepresentation
made or fraud committed in filing a return or in supplying information for the purposes of the Income Tax Act (Canada), as amended,
or any other legislation imposing tax shall continue in full force and effect and be unlimited as to duration; and

 

	(c)		to the extent they have not been fully performed at or prior to the Time of Closing, the
remaining representations and warranties set forth in Sections 3.1 and 3.2 shall continue in full force and effect for a period
of two years from the date of this Agreement.

 

After the applicable survival period specified
in Sections 3.3(a) and 3.3(c), if no claim shall have been made hereunder prior to expiry of such survival periods against a Party with
respect to any incorrectness in or breach of any representations or warranty contained herein, or any non-fulfillment of any covenant
or agreement on the part of a Party, the Party making the representation or warranty in this Agreement shall have no further liability
hereunder with respect to any such representation or warranty.

 

 

    	 	17	 

     

    

 

Article 4

COVENANTS

 

	4.1		Access to the Corporation

 

Upon request by the Purchaser, the Vendor and
the Corporation shall forthwith provide access to the Purchaser and its authorized Representatives and, if requested by the Purchaser,
provide a copy to the Purchaser of all title documents, contracts, agreements, leases, financial statements, minute books, share certificate
books, share registers, plans, reports, licences, orders, permits, books of account, accounting records, constating documents and all
other documents, information or data relating to the Corporation, the Business, and Property and the other Assets. The Vendor and the
Corporation shall afford the Purchaser and its authorized Representatives every reasonable opportunity to have free and unrestricted access
to the Business and the property (including the Property), records and documents of the Corporation. At the request of the Purchaser,
the Vendor and the Corporation shall execute or cause to be executed such consents, authorizations and directions as may be necessary
to permit any inspection of the Business and any property of the Corporation (including the Property) or to enable the Purchaser or its
authorized Representatives to obtain full access to all files and records relating to any of the property or assets of the Corporation
maintained by governmental or other public authorities. At the Purchaser's request, the Vendor and the Corporation shall co-operate with
the Purchaser in arranging any such meetings as the Purchaser should reasonably request with auditors, solicitors or any other persons
engaged or previously engaged to provide services to the Corporation who have knowledge of matters relating to the Corporation, the Business
and the Property.

 

	4.2		Conduct Prior to Closing

 

Without in any way limiting any other obligations
of the Vendor and the Corporation hereunder, during the period from the date hereof to the Time of Closing:

 

	(a)		Conduct Business in the Ordinary Course. The Vendor shall cause the Corporation to
conduct, and the Corporation shall conduct, the Business and the operations and affairs of the Corporation only in the ordinary and normal
course of business consistent with past practice, and the Corporation shall advise the Purchaser of any material change or development
in the Business and the operations and affairs of the Corporation. The Corporation shall not, without the prior written consent of the
Purchaser, enter into any transaction or refrain from doing any action that, if effected before the date of this Agreement, would constitute
a breach of any representation, warranty, covenant or other obligation of the Vendor or the Corporation contained herein, and provided
further that, except as granted herein, the Vendor and the Corporation shall not enter into any material supply arrangements relating
to the Corporation or make any material decisions or enter into any Contracts with respect to the Corporation without the consent of
the Purchaser, which consent shall not be unreasonably withheld or delayed. The Vendor shall cause the Corporation to maintain, and the
Corporation shall maintain the Mineral Rights as validly issued and in good standing, and free of all Encumbrances (other than Permitted
Encumbrances).

 

	(b)		Discharge Liabilities. The Vendor shall cause the Corporation to pay and discharge,
and the Corporation shall pay and discharge, the liabilities of the Corporation in the ordinary course in accordance and consistent with
the previous practice of the Corporation, except those contested in good faith by the Corporation.

 

	(c)		Corporate Action. The Vendor shall take, and shall cause the Corporation to take,
and the Corporation shall take, all necessary corporate action, steps and proceedings to approve or authorize, validly and effectively,
the execution and delivery of this Agreement and the other agreements and documents contemplated hereby and to complete the transfer
of the Purchased Shares to the Purchaser and to cause all necessary meetings of the directors and the shareholders of the Corporation
to be held for such purpose.

 

	(d)		Commercially Reasonable Efforts. The Vendor shall use its commercially reasonable
efforts to satisfy and cause the Corporation to satisfy, and the Corporation shall use its commercially reasonable efforts to satisfy,
the conditions contained in Section 5.1, which are under their control.

 

 

    	 	18	 

     

    

 

	4.3		Negative Covenants of the Corporation

 

Except as otherwise specifically contemplated
by this Agreement or consented to in writing by the Purchaser (such consent not to be unreasonably withheld), from the date of this Agreement
until the Time of Closing, the Vendor shall cause the Corporation to not permit, and the Corporation shall not permit:

 

	(a)		any capital expenditures other than capital expenditures in the ordinary course of Business
consistent with past practice which were previously approved and disclosed to the Purchaser, provided that the Corporation shall be authorized
to make all capital expenditures in accordance with all legally binding commitments and Contracts with third parties in existence at
the date of this Agreement;

 

	(b)		the approval of any new capital projects or implementation of any other material change in
the affairs of the Business;

 

	(c)		the taking of any action that would, or would reasonably be expected to, render any representation
or warranty made by it in this Agreement untrue or incorrect in any material respect on the Closing Date as if then made;

 

	(d)		the repayment of any indebtedness or the incurring of any new indebtedness, other than in
the ordinary course of business consistent with past practice;

 

	(e)		the change, amendment or modification of the articles, by-laws or other constating documents
of the Corporation;

 

	(f)		the allotment, issuance, grant or sale of any shares, rights, options, warrants or other
securities of the Purchaser;

 

	(g)		the declaration or payment of any dividend or making any other distribution on any of the
Corporation's shares of any class, or approval of resolution to reduce its share capital in any way, or the repurchase, redemption or
acquisition any of its shares;

 

	(h)		the purchase, sale, transfer or disposal, or entering into of an agreement to purchase, sell,
transfer or otherwise dispose of, Mineral Rights or other Assets;

 

	(i)		the entry into any agreement or transaction which would result in any Encumbrance on any
Assets;

 

	(j)		the entry into, extension, renewal or modification of any agreement, contract or Permit in
respect of the Business, except in the ordinary course of business;

 

	(k)		the establishment, adoption, entering into, making or amendment of a Benefit Plan for the
benefit of any directors, officers or employees of the Corporation; and

 

	(l)		the entry into of any contract, agreement, commitment or arrangement with respect to any
of the matters set forth in this Section 4.3.

 

	4.4		Co-operation

 

The Vendor shall take, or cause to be taken, all
commercially reasonable actions and do, or cause to be done, all commercially reasonable things necessary, proper or advisable to permit
and diligently pursue the completion of the transactions contemplated by this Agreement in accordance with the terms hereof and shall
cooperate with the Purchaser in connection therewith.

 

 

 

    	 	19	 

     

    

 

	4.5		Voting Support

 

For a period of twelve (12) months from the Closing
Date of this Agreement, or until such time as the Vendor owns less than 4.9% of the Purchaser’s shares, the Vendor covenants and
agrees to:

 

	(a)		be present in person or represented by proxy (in respect of all Common Shares beneficially
owned, or over which control or direction is exercised, by the Vendor and its Affiliates) at all meetings of Company’s shareholders
for the purpose of determining the presence of a quorum at such meetings;

 

	(b)		not withhold from voting any Common Shares beneficially owned, or over which control or direction
is exercised, by the Vendor and its Affiliates in respect of any resolution seeking the election of the Purchaser’s director nominees
(provided at least one nominee designated by the Vendor is included among such nominees) at all meetings of the Purchaser’s shareholders;
and

 

	(c)		not vote against any matters that have been recommended by the Board at each meeting of the
Purchaser’s shareholders, except with respect to: (A) any transaction whereby over 50% of the Purchaser’s outstanding voting
securities or substantially all of its assets are to be acquired, directly or indirectly, by any third party or parties as a result of
such transaction; or (B) the proposed direct or indirect sale of 100% of the Excelsior Springs or Palmetto properties and/or Nubian
USA.

 

Article 5

CONDITIONS OF CLOSING

 

	5.1		Purchaser's Conditions

 

The obligation of the Purchaser to complete the
purchase of the Purchased Shares contemplated herein, is subject to the fulfillment of each of the following conditions precedent, unless
waived in writing by the Purchaser, and the Vendor shall use its best efforts to ensure that these conditions are fulfilled on or before
the Closing Date.

 

	(a)		Vendor's Representations and Warranties and Covenants. The representations and warranties
of the Vendor contained in this Agreement shall be true and correct at the Time of Closing, with the same force and effect as if such
representations and warranties were made at and as of such time, and the Vendor shall deliver a certificate executed as of the Time of
Closing certifying that all representations and warranties made by it herein are true and correct in all material respects as of such
date.

 

	(b)		Covenants. All of the terms, covenants and agreements set forth in this Agreement
to be complied with or performed by the Vendor and the Corporation at or before the Closing Date shall have been complied with or performed
in all material respects by the Vendor and the Corporation on or before the Closing Date, and the Vendor and the Corporation shall deliver
a certificate executed as of the Time of Closing certifying that all such terms, covenants and agreements have been complied with or
performed in all material respects by the Vendor and the Corporation on or before such date.

 

	(c)		No Material Change. Except as otherwise disclosed to the Purchaser, at the Time of
Closing, there shall not have been any material adverse change in the condition (financial or otherwise), of the assets, liabilities,
capitalization or Business of the Corporation from that as set forth in the Corporation's Financial Statements, in this Agreement or
as otherwise disclosed to the Purchaser in writing prior to the date of this Agreement.

 

	(d)		Approvals. At the Time of Closing, there shall have been obtained the written consents
or approvals, in form and substance satisfactory to the Purchaser and Purchaser's legal counsel, acting reasonably, of any governmental
or regulatory agency or person whose consent to the transactions contemplated hereby is required, including without limitation, the CSE
and all conditions imposed upon such consents shall have been satisfied.

 

	(e)		Corporate Proceedings. All necessary steps and corporate proceedings, as approved
by the Purchaser's legal counsel acting reasonably, shall have been taken by the Vendor and the Corporation, as applicable, to permit
the Purchased Shares to be sold, assigned and transferred to the Purchaser.

 

 

    	 	20	 

     

    

 

	(f)		Resignations and Releases. The Vendor shall have delivered or caused to be delivered
to the Purchaser the resignations of all officers and directors of the Corporation, together with a resolution or resolutions of the
directors of the Corporation appointing John Power as a director and President and Ty Minnick as a director and Secretary, to be in such
form or forms and in such sequence as the Purchaser's legal counsel may direct, acting reasonably, and all such resigning directors and
officers shall have tendered to the Corporation and the Purchaser a waiver and release in form satisfactory to the Purchaser's legal
counsel, acting reasonably, of all claims and demands against the Corporation with respect to matters arising prior to the Time of Closing.
Without limiting the generality of the foregoing, each of the directors and officers of the Corporation shall execute and deliver a release,
in form satisfactory to the Purchaser's legal counsel, acting reasonably, releasing the Corporation from all claims and demands in relation
to wages or salaries, which may be or are owed to such directors and officers from duties performed prior to the Time of Closing.

 

	(g)		Closing Documents. The Vendor and the Corporation shall have executed and delivered
to the Purchaser all documents as the Purchaser or the Purchaser's legal counsel may reasonably request for the purposes of effecting
the transfer and delivery of the Purchased Shares in accordance with the terms of this Agreement, including the documents set forth in
Section 7.2.

 

	(h)		No Action or Proceeding. No legal or regulatory action, suit or proceeding shall be
pending or threatened by any person, firm or corporation to enjoin, restrict or prohibit the purchase and sale of the Purchased Shares
contemplated hereby or the right of the Purchaser to own the Purchased Shares

 

	(i)		No Violations of Laws. No law, ruling, order or decree is in force, and no action
has been taken under any law or by any governmental authority that: (i) makes it illegal or otherwise, directly or indirectly, restrains,
enjoins or prohibits the completion of the transactions contemplated by this Agreement; (ii) results in a judgement or assessment of
damages, directly or indirectly, relating to the transactions contemplated by this Agreement that would have a material adverse effect
on the Corporation or the value of the Purchased Shares; or (iii) would impose any condition or restriction that, after giving effect
to the transactions contemplated by this Agreement, would have a material adverse effect on the Corporation or the value of the Purchased
Shares.

 

If any such conditions shall not be fulfilled
or waived in writing by the Purchaser at or prior to the Time of Closing, the Purchaser may rescind this Agreement by written notice to
the Vendor and, in such event, the Purchaser and the Vendor shall be released from all obligations hereunder.

 

	5.2		Vendor's Conditions

 

The obligation of the Vendor to complete the sale
of the Purchased Shares contemplated herein, is subject to the fulfillment of the following conditions precedent, unless waived in writing
by the Vendor, and the Purchaser shall use its best efforts to ensure that these conditions are fulfilled on or before the Closing Date.

 

	(a)		Purchaser's Representations and Warranties and Covenants. The representations and
warranties of the Purchaser contained in this Agreement shall be true and correct at the Time of Closing, with the same force and effect
as if such representations and warranties were made at and as of such time, and the Purchaser shall deliver a certificate executed as
of the Time of Closing certifying that all representations and warranties made by it herein are true and correct in all material respects
as of such date.

 

	(b)		Covenants. All of the terms, covenants and agreements set forth in this Agreement
to be complied with or performed by the Purchaser at or before the Closing Date shall have been complied with or performed in all material
respects by the Purchaser on or before the Closing Date and the Purchaser shall deliver a certificate executed as of the Time of Closing
certifying that all such terms, covenants and agreements have been complied with or performed in all material respects by the Purchaser
on or before such date.

 

	(c)		Closing Documents. The Purchaser shall have executed and delivered to the Vendor all
documents as the Vendor or the Vendor's legal counsel may reasonably request for the purposes of effecting the transfer and delivery
of the Purchased Shares in accordance with the terms of this Agreement, including the documents set forth in Section 7.3

 

	(d)		No Action or Proceeding. No legal or regulatory action, suit or proceeding shall be
pending or threatened by any person, firm or corporation to enjoin, restrict or prohibit the purchase and sale of the Purchased Shares
contemplated hereby or the right of the Vendor to sell the Purchased Shares.

 

 

    	 	21	 

     

    

 

	(e)		No Violations of Laws. No law, ruling, order or decree is in force, and no action
has been taken under any law or by any governmental authority that makes it illegal or otherwise, directly or indirectly, restrains,
enjoins or prohibits the completion of the transactions contemplated by this Agreement.

 

If any such conditions shall not be fulfilled
or waived in writing by the Vendor at or prior to the Time of Closing, the Vendor may rescind this Agreement by written notice to the
Purchaser and, in such event, the Purchaser and the Vendor shall be released from all obligations hereunder.

 

Article 6

INDEMNIFICATION AND TAX INFORMATION

 

	6.1		Indemnity

 

Each Party agrees to indemnify and save the other
harmless from and against all losses, claims, actions, causes of action and liabilities, of any and all nature whatsoever, which the other
may suffer, sustain or incur or which may be brought, made or asserted against the other as the result of any inaccuracy in any representation
and warranty made in this Agreement by the indemnifying party, and/or which may be suffered or incurred as a result of, in respect of
or arising out of any non-fulfillment of any covenant or agreement on the part of such indemnifying party, subject to the following limitations:

 

	(a)		there shall be no obligation to indemnify in respect of a claim not made in writing both
within:

 

	(i)		the applicable survival period, if any, specified in Section 3.3 and; and

 

	(ii)		the period of 180 days from the date upon which the Party claiming the indemnity first learned
of the facts giving rise to the claim; and

 

	(b)		the Vendor shall not be considered to be in breach of any representation and warranty concerning
the assets or liabilities of the Corporation by reason of an inaccuracy in aggregate assets or aggregate liabilities which occurs in
good faith and does not exceed $5,000.

 

	6.2		Tax Information

 

The Parties shall provide each other with such
assistance as may reasonably be requested by any of them in connection with the preparation of any return of Taxes, any audit or other
examination by any taxing authority, or any judicial or administrative proceedings relating to liabilities for Taxes arising out of this
Agreement, and each shall retain and, upon request of the other, provide the other with such records or information as is relevant to
such return, audit or examination or proceedings. Such assistance shall include providing copies of any relevant returns of Taxes and
supporting work schedules. The Party requesting assistance hereunder shall reimburse the other for reasonable out-of-pocket expenses incurred
by the other in providing such assistance. Any Party in possession of records or information relating to Taxes shall retain such records
and information for such time as may be prescribed by any relevant legislation.

 

Article 7

CLOSING

 

	7.1		Closing and Closing Date

 

The Closing shall take place at the offices of
the Purchaser's legal counsel on the Closing Date or upon such earlier or later time and date and such place as may be agreed upon among
the Parties.

 

 

    	 	22	 

     

    

 

	7.2		Vendor's Closing Documentation

 

On the Closing Date, the Vendor shall deliver,
or cause to be delivered, to the Purchaser the following closing documentation:

 

	(a)		share certificate(s) representing the Purchased Shares issued in the name of the Vendor,
duly endorsed for transfer to the Purchaser;

 

	(b)		a certified copy of resolutions of the directors of the Corporation authorizing the transfer
of the Purchased Shares to the Purchaser, the registration of the Purchased Shares in the name of the Purchaser, the issuance of a share
certificate representing the Purchased Shares, and approving the resignations and appointments contemplated by Section 5.1(f);

 

	(c)		a share certificate registered in the name of the Purchaser, signed by a duly authorized
signatory of the Vendor, representing the Purchased Shares;

 

	(d)		a certified copy of the register of shareholders of the Corporation showing the Purchaser
as the registered owner of the Purchased Shares;

 

	(e)		a certificate of the Vendor certifying that (i) the representations and warranties of the
Vendor set forth in Section 3.1 are, in all material respects, true and correct as of the Closing Date; and (ii) the terms, covenants
and agreements to have been complied with or performed by the Vendor or the Corporation on or before the Closing Date have been complied
with or performed by the Vendor or the Corporation in all material respects; and

 

	(f)		the resignations and releases of the directors and officers of the Corporation contemplated
by Section 5.1(f);

 

	(g)		a Delaware certificate of good standing for the Corporation dated as of the Closing Date;

 

	(h)		the corporate minute books and all other books and records of the Corporation;

 

	(i)		the corporate seal for the Corporation; and

 

	(j)		such other documents as the Purchaser may reasonably require to perfect the purchase and
sale contemplated hereby.

 

	7.3		Purchaser's Closing Documentation

 

On the Closing Date, the Purchaser shall deliver,
or cause to be delivered, to the Vendor the following closing documentation:

 

	(a)		a share certificate or DRS transaction advice representing the Consideration Shares issued
in the name of the Vendor;

 

	(b)		a certificate of the Purchaser certifying that (i) the representations and warranties of
it set forth in Section 3.2 are, in all material respects, true and correct as of the Closing Date; and (ii) the terms, covenants
and agreements to have been complied with or performed by it on or before the Closing Date have been complied with or performed by it
in all material respects; and

 

	(c)		such other documents as the Vendor may reasonably require to perfect the purchase and sale
contemplated hereby.

 

 

 

    	 	23	 

     

    

 

Article 8

NOTICE

 

	8.1		General

 

Each notice, demand or other
communication required or permitted to be given under this Agreement shall be in writing and shall be personally delivered or sent by
electronic communications addressed as follows:

 

	(a)		If to the Vendor or the Corporation, at:

 

Nubian Resources Ltd.

Suite 202, Yale Court Plaza, 2526 Yale Court

Abbotsford, British Columbia

Canada, V2S 8G9

 

Attention: Martin Walter, President and CEO

Email: martin@nubianr.com

 

with a copy
to the Vendor's solicitors (which shall not constitute notice), at:

 

Irwin Lowy LLP

217 Queen Street West, Suite 401

Toronto, Ontario

Canada, M5V 0R2

 

Attention: Eric Lowy

Email: ELowy@irwinlowy.com

 

	(b)		If to the Purchaser, at:

 

Athena Gold Corporation

2010A Harbison Drive, Unit 312

Vacaville, California

USA, 95687

 

Attention: John Power, Chief Executive Officer

Email: johnpower@athenagoldcorp.com

 

with a copy
to the Purchaser's solicitors (which shall not constitute notice), at:

 

Lotz & Company

1040 West Georgia Street, Suite 1170

Vancouver, British Columbia

Canada, V6E 4H1

 

Attention: Jonathan C. Lotz

Email: jlotz@lotzandco.com

 

or to such addresses as each Party may from time
to time specify by notice. Any notice shall be deemed to have been given and received if personally delivered, then on the day of personal
service to the recipient Party, and if sent by email then on the day on which it was transmitted (or, if such day is not a Business Day
or such notice or communication was delivered or transmitted after 5:00 pm (recipient's time), on the next following Business Day).

 

 

    	 	24	 

     

    

 

Article 9

Preparation of Registration Statement

 

	9.1		Registration Statement

 

Promptly following Closing and in any event within
90 days of the Closing Date, the Purchaser and the Vendor shall prepare and file with the SEC a Registration Statement on Form S-1, covering
the resale of the Registrable Securities by the Vendor to its shareholders, as contemplated by Section 2.3, and, at the discretion
of the Purchaser, the registration of any other Athena Common Shares with respect to an offering of Athena Common Shares by the Purchaser
for its own account or for the account of any of its other shareholders. The Vendor hereby consents to being named as an "underwriter"
in such Registration Statement, if in reasonable opinion of the Purchaser and its legal counsel such designation is required. The Registration
Statement (and each amendment or supplement thereto, and each request for acceleration of effectiveness thereof) shall be provided to
the Vendor at least three Business Days prior to its filing or other submission.

 

	9.2		Effectiveness

 

	(a)		The Purchaser shall use commercially reasonable efforts to have the Registration Statement
declared effective as soon as practicable. The Purchaser shall notify the Vendor in accordance with Section 8.1 as promptly as practicable,
and in any event, within 24 hours, after the Registration Statement is declared effective and shall simultaneously provide the Vendor
with copies of any related Prospectus to be used in connection with the sale or other disposition of the securities covered thereby.

 

	(b)		The Purchaser shall use commercially reasonable efforts to cause such Registration Statement
to become effective and to remain continuously effective for a period that shall terminate upon the earlier of (i) the date on which
all Registrable Securities covered by such Registration Statement as amended from time to time, have been sold; and (ii) the date on
which all Registrable Securities covered by such Registration Statement may be sold without restriction pursuant to Rule 144 under the
1933 Act (in this Section 9.2, the "Effectiveness Period"). The Purchaser shall prepare and file with the SEC such
amendments and post-effective amendments to the Registration Statement and the Prospectus as may be necessary to keep the Registration
Statement effective for the Effectiveness Period and to comply with the provisions of the 1933 Act and the 1934 Act with respect to the
distribution of all of the Registrable Securities covered thereby.

 

	(c)		For not more than 20 consecutive days or for a total of not more than 30 days in any six
month period, the Purchaser may suspend the use of any Prospectus included in any Registration Statement contemplated by this Article 9
in the event that the Purchaser determines in good faith that such suspension is necessary to (A) delay the disclosure of material non-public
information concerning the Purchaser, the disclosure of which at the time is not, in the good faith opinion of the Purchaser, in the
best interests of the Purchaser or (B) amend or supplement the affected Registration Statement or the related Prospectus so that such
Registration Statement or Prospectus shall not include an untrue statement of a material fact or omit to state a material fact required
to be stated therein or necessary to make the statements therein, in the case of the Prospectus in light of the circumstances under which
they were made, not misleading (an "Allowed Delay"); provided, that the Purchaser shall promptly (i) notify the Vendor in writing
of the commencement of an Allowed Delay, but shall not (without the prior written consent of the Vendor) disclose to the Vendor any material
non-public information giving rise to an Allowed Delay; (ii) advise the Vendor in writing to cease all sales under the Registration Statement
until the end of the Allowed Delay; and (iii) use commercially reasonable efforts to terminate an Allowed Delay as promptly as practicable.
The Purchaser will use commercially reasonable efforts to (i) prevent the issuance of any stop order or other suspension of effectiveness
of the Registration Statement by the SEC; and (ii) if such order is issued, obtain the withdrawal of any such order at the earliest possible
moment.

 

	9.3		Rule 415

 

	(a)		The Vendor understands and acknowledges that some activities on its part, including in connection
with the transfer and distribution of the Consideration Shares by the Vendor to its shareholders pursuant to Section 2.3, may result
in it being deemed a participant in a distribution in a manner which could render it a statutory underwriter and subject it to the prospectus
delivery and liability provisions of the 1933 Act. Subject to compliance with Securities Laws, the Purchaser may not deem the Vendor
to be an "underwriter" within the meaning of the 1933 Act within any Registration Statement nor file any such Registration
Statement without the prior written consent of the Vendor. If at any time the SEC takes the position that the offering of some or all
of the Registrable Securities in the Registration Statement is not eligible to be made on a delayed or continuous basis under the provisions
of Rule 415 under the 1933 Act or requires the Vendor to be named as an "underwriter", the Purchaser shall use its commercially
reasonable efforts to persuade the SEC that the offering contemplated by the Registration Statement is a valid secondary offering and
not an offering "by or on behalf of the issuer" as defined in Rule 415 and that the Vendor is an "underwriter". The
Vendor shall have the right to participate or have its counsel participate in any meetings or discussions with the SEC regarding the
SEC's position and to comment or have their counsel comment on any written submission made to the SEC with respect thereto.

 

 

    	 	25	 

     

    

 

	9.4		Provision of Information

 

	(a)		The Vendor shall promptly furnish, or cause to be furnished, to the Purchaser all information
concerning the Vendor, its Affiliates and their respective Representatives that may be required or reasonably requested in connection
with any action contemplated by this Article 9, including in any other statement, filing, notice or application made by or on behalf
of the Purchaser to the SEC. If the Vendor becomes aware of any information that should be disclosed in an amendment or supplement to
the Registration Statement, then the Vendor shall promptly inform the Purchaser thereof. The Vendor shall use reasonable best efforts
to ensure that none of the information related to it or any of its Affiliates or their respective Representatives, supplied by or on
its behalf for inclusion or incorporation by reference in the Registration Statement shall, at the time the Registration Statement is
initially filed with the SEC, at each time at which it is amended, or at the time it becomes effective under the 1933 Act contain any
untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements
therein, in light of the circumstances under which they are made, not misleading.

 

	(b)		The Vendor agrees to indemnify and hold harmless, to the fullest extent permitted by law,
the Purchaser, its directors, officers, employees, shareholders and each person who controls the Purchaser (within the meaning of the
1933 Act) against any losses, claims, damages, liabilities and expenses (including reasonable attorney fees) resulting from (i) any untrue
statement or alleged untrue statement or omission or alleged omission of any material fact contained in any Registration Statement; and
(ii) any untrue statement or alleged untrue statement or omission or alleged omission of any material fact, in light of the circumstances
under which they were made, contained in any preliminary Prospectus or final Prospectus, or any amendment or supplement thereof, in each
case to the extent, but only to the extent that such untrue statement or omission is contained in any information furnished in writing
by the Vendor to the Purchaser specifically for inclusion in such Registration Statement or Prospectus or amendment or supplement thereto.

 

	9.5		Expenses

 

Each of the Purchaser and the
Vendor shall pay its own expenses associated with effecting the registration of the Registrable Securities, including filing and printing
fees, listing fees costs associated with clearing the Registrable Securities for sale under applicable state securities laws and legal
and accounting fees and expenses.

 

Article 10

GENERAL

 

	10.1		Confidentiality

 

	(a)		At all times prior to the Time of Closing, all documents and information received by the
Purchaser from the Vendor and the Corporation and their respective Representatives, or vice versa, in connection with the transactions
contemplated herein (in this Section 10.1, "Confidential Information") shall be treated by the recipient Party
as confidential and shall not be disclosed to any other Party (other than the recipient Party's Representatives) except in order to comply
with any Applicable Laws and any matter connected thereto; provided that, in the event that a recipient Party receives a request or is
legally required to disclose Confidential Information, it shall notify the disclosing Party of such request or requirement and the disclosing
Party may, at its own expense, seek to obtain any protective order to prevent or limit such disclosure. The Parties shall be entitled
to all remedies available at law or in equity to enforce, or seek relief in connection with, this confidentiality obligation; provided
further that, all monetary damages shall be limited to actual direct damages.

 

	(b)		Notwithstanding the foregoing, "Confidential Information" shall not include
information that: (i) was already in the public domain at the time furnished or that subsequently becomes part of the public domain through
no act or omission by a Party or its Representatives in violation of this Agreement or any other confidentiality obligation; (ii) was
in a recipient Party's possession at the time furnished and was not directly or indirectly acquired by the recipient party under an obligation
of confidence owed directly or indirectly to the disclosing party (whether arising by way of contract, legal, equitable or fiduciary
obligation or otherwise); or (iii) was acquired by the recipient party on a non-confidential basis from a source other than the disclosing
party or its Representatives (provided that same source is not, to the recipient party's knowledge, bound by a confidentiality agreement
with the disclosing party or any of its Representatives).

 

 

    	 	26	 

     

    

 

	10.2		Disclosure

 

Each Party shall receive the prior consent, not
to be unreasonably withheld, of the other Party prior to issuing or permitting any director, officer, employee or agent to issue, any
press release or other written statement with respect to this Agreement or the transactions contemplated hereby. Notwithstanding the foregoing,
if a Party is required by Applicable Laws to make any disclosure relating to the transactions contemplated herein, such disclosure may
be made, but that Party shall use reasonable commercial efforts to consult with the other Party as to the wording of such disclosure prior
to its being made.

 

	10.3		Costs and Expenses

 

Each Party shall be responsible for its own costs
and expenses related to the legal and audit fees and other charges and expenses incurred by such party in connection with the purchase
and sale of the Purchased Shares, the preparation of this Agreement and all negotiations among the Parties.

 

	10.4		Time of the Essence

 

Time shall be of the essence of this Agreement.

 

	10.5		Governing Law

 

This Agreement shall be governed by and interpreted
in accordance with the laws in force in the Province of British Columbia and the federal laws of Canada applicable therein, without regard
to any conflict of laws or choice of laws principle. Each of the Parties hereby irrevocably attorns and submits to the non-exclusive jurisdiction
of the courts of British Columbia, Canada respecting all matters relating to this Agreement and the rights and obligations of the Parties
hereunder.

 

	10.6		No Waiver of Breaches

 

A waiver of any right, power
or remedy under this Agreement shall be in writing signed by the Party granting it. A waiver is only effective in relation to the particular
obligation or breach in respect of which it is given. It is not to be taken as an implied waiver of any other obligation or breach or
as an implied waiver of that obligation or breach in relation to any other occasion.

 

	10.7		Cumulative Remedies

 

All rights and remedies
of the Parties thereunder are cumulative of each other and of every other right or remedy such Parties may otherwise have at law or in
equity, and the exercise of one or more rights or remedies by a Party shall not prejudice or impair the concurrent or subsequent exercise
of other rights or remedies by the Party.

 

	10.8		Joint and Several Liability

 

The representations, warranties,
covenants and obligations of the Vendor and the Corporation, whether expressed or implied in this Agreement, shall bind each of the Vendor
and the Corporation jointly and severally.

 

	10.9		Enurement

 

This Agreement shall enure to the benefit of the
Parties, their respective successors and permitted assigns.

 

	10.10		Further Assurances

 

The Parties shall from time to time, on and after
the Closing Date promptly execute and deliver all such other additional instruments, notices, releases and other documents, and shall
do all such other acts and things as may be reasonably necessary to fully carry out the terms and conditions of this Agreement in accordance
with their full intent.

 

 

    	 	27	 

     

    

 

	10.11		Counterparts

 

This Agreement may be executed
in any number of counterparts, each of which shall be deemed to be an original and all of which taken together shall be deemed to constitute
one and same instrument. Delivery of an executed signature page to this Agreement by any Party by electronic transmission shall be as
effective as delivery of a manually executed copy of this Agreement by such Party.

 

[Remainder of page intentionally
left blank; signature page to follow]

 

IN WITNESS WHEREOF the Parties have executed this
Agreement as of the date first written above.

 

	 	 	
    NUBIAN RESOURCES LTD.

     

     

    Per: /s/ Martin Walter

    Authorized Signatory

     

     

	 	 	
    ATHENA GOLD CORPORATION

    (formerly Athena Silver Corporation)

     

     

    Per: /s/ John Power

    Authorized Signatory 

     

     

	 	 	
    NUBIAN RESOURCES (USA) LTD.

     

     

    Per: /s/ Martin Walter 

    Authorized Signatory 

     

 

 

 

    	 	28	 

     

    

 

SCHEDULE "A"

 

Description of Property

 

Table of Mineral Rights

 

	Serial No	Claim Name / Number	Property	Location
	NMC1045871	ES	1	Excelsior	Nevada
	NMC1045873	ES	3	Excelsior	Nevada
	NMC1045875	ES	5	Excelsior	Nevada
	NMC1045877	ES	7	Excelsior	Nevada
	NMC1045879	ES	9	Excelsior	Nevada
	NMC1045881	ES	11	Excelsior	Nevada
	NMC1045883	ES	13	Excelsior	Nevada
	NMC1045885	ES	15	Excelsior	Nevada
	NMC1045887	ES	17	Excelsior	Nevada
	NMC1045889	ES	19	Excelsior	Nevada
	NMC1045891	ES	21	Excelsior	Nevada
	NMC1045893	ES	23	Excelsior	Nevada
	NMC1045895	ES	25	Excelsior	Nevada
	NMC1045897	ES	27	Excelsior	Nevada
	NMC1045899	ES	29	Excelsior	Nevada
	NMC1045901	ES	31	Excelsior	Nevada
	NMC1045903	ES	33	Excelsior	Nevada
	NMC1045905	ES	35	Excelsior	Nevada
	NMC1045907	ES	37	Excelsior	Nevada
	NMC1045909	ES	39	Excelsior	Nevada
	NMC1045910	ES	40	Excelsior	Nevada
	NMC1045911	ES	41	Excelsior	Nevada
	NMC1045912	ES	42	Excelsior	Nevada
	NMC1045913	ES	43	Excelsior	Nevada
	NMC1045914	ES	44	Excelsior	Nevada
	NMC1045915	ES	45	Excelsior	Nevada
	NMC1045916	ES	46	Excelsior	Nevada
	NMC1045917	ES	47	Excelsior	Nevada
	NMC1045918	ES	48	Excelsior	Nevada
	NMC1045919	ES	49	Excelsior	Nevada
	NMC1045920	ES	50	Excelsior	Nevada
	NMC1045921	ES	51	Excelsior	Nevada
	NMC1045922	ES	52	Excelsior	Nevada
	NMC1045923	ES	53	Excelsior	Nevada
	NMC1045924	ES	54	Excelsior	Nevada
	NMC1045925	ES	55	Excelsior	Nevada
	NMC1045926	ES	56	Excelsior	Nevada
	NMC1045927	ES	57	Excelsior	Nevada
	NMC1045928	ES	58	Excelsior	Nevada
	NMC1045929	ES	59	Excelsior	Nevada
	NMC1045930	ES	60	Excelsior	Nevada
	NMC1045931	ES	61	Excelsior	Nevada
	NMC1045932	ES	62	Excelsior	Nevada
	NMC1045933	ES	63	Excelsior	Nevada
	NMC1045934	ES	64	Excelsior	Nevada
	NMC1045935	ES	65	Excelsior	Nevada

 

    	 	A-1	 

     

    

 

 

	Serial No	Claim Name / Number	Property	Location
	NMC1045936	ES	66	Excelsior	Nevada
	NMC1045937	ES	67	Excelsior	Nevada
	NMC1045938	ES	68	Excelsior	Nevada
	NMC1045939	ES	69	Excelsior	Nevada
	NMC1045940	ES	70	Excelsior	Nevada
	NMC1045941	ES	71	Excelsior	Nevada
	NMC1045942	ES	72	Excelsior	Nevada
	NMC1045943	ES	73	Excelsior	Nevada
	NMC1045944	ES	74	Excelsior	Nevada
	NMC1045945	ES	75	Excelsior	Nevada
	NMC1045946	ES	76	Excelsior	Nevada
	NMC1045947	ES	77	Excelsior	Nevada
	NMC1045948	ES	78	Excelsior	Nevada
	NMC1045949	ES	79	Excelsior	Nevada
	NMC1045950	ES	80	Excelsior	Nevada
	NMC1045951	ES	81	Excelsior	Nevada
	NMC1045952	ES	82	Excelsior	Nevada
	NMC1045953	ES	83	Excelsior	Nevada
	NMC1045954	ES	84	Excelsior	Nevada
	NMC1045955	ES	85	Excelsior	Nevada
	NMC1045956	ES	86	Excelsior	Nevada
	NMC1045957	ES	87	Excelsior	Nevada
	NMC1045958	ES	88	Excelsior	Nevada
	NMC1045959	ES	89	Excelsior	Nevada
	NMC1045960	ES	90	Excelsior	Nevada
	NMC1045961	ES	91	Excelsior	Nevada
	NMC1045962	ES	92	Excelsior	Nevada
	NMC1045963	ES	93	Excelsior	Nevada
	NMC1045964	ES	94	Excelsior	Nevada
	NMC1045965	ES	95	Excelsior	Nevada
	NMC1045966	ES	96	Excelsior	Nevada
	NMC1045967	ES	97	Excelsior	Nevada
	NMC1045968	ES	98	Excelsior	Nevada
	NMC1045969	ES	99	Excelsior	Nevada
	NMC1045970	ES	100	Excelsior	Nevada
	NMC1057362	ES	103	Excelsior	Nevada
	NMC1057364	ES	105	Excelsior	Nevada
	NMC1057366	ES	107	Excelsior	Nevada
	NMC1057368	ES	109	Excelsior	Nevada
	NMC1057394	ES	178	Excelsior	Nevada
	NMC1057395	ES	179	Excelsior	Nevada
	NMC1057396	ES	180	Excelsior	Nevada
	NMC1057467	ES	242	Excelsior	Nevada
	NMC1057460	ES	245	Excelsior	Nevada
	NMC1057461	ES	246	Excelsior	Nevada
	NMC1057462	ES	247	Excelsior	Nevada
	NMC1057463	ES	248	Excelsior	Nevada
	NMC1057464	ES	249	Excelsior	Nevada
	NMC1057465	ES	250	Excelsior	Nevada
	NMC1057466	ES	251	Excelsior	Nevada
	NMC1057468	ES	253	Excelsior	Nevada
	NMC1057469	ES	254	Excelsior	Nevada

 

 

    	 	A-2	 

     

    

 

 

	Serial No	Claim Name / Number	Property	Location
	NMC887756	EX	1	Excelsior	Nevada
	NMC887757	EX	2	Excelsior	Nevada
	NMC887758	EX	3	Excelsior	Nevada
	NMC887759	EX	4	Excelsior	Nevada
	NMC887760	EX	5	Excelsior	Nevada
	NMC887761	EX	6	Excelsior	Nevada
	NMC887762	EX	7	Excelsior	Nevada
	NMC887763	EX	8	Excelsior	Nevada
	NMC887764	EX	9	Excelsior	Nevada
	NMC887765	EX	10	Excelsior	Nevada
	NMC887766	EX	11	Excelsior	Nevada
	NMC887767	EX	12	Excelsior	Nevada
	NMC887768	EX	13	Excelsior	Nevada
	NMC887769	EX	14	Excelsior	Nevada
	NMC897986	EX	20	Excelsior	Nevada
	NMC897987	EX	21	Excelsior	Nevada
	NMC897988	EX	22	Excelsior	Nevada
	NMC897989	EX	23	Excelsior	Nevada
	NMC897990	EX	24	Excelsior	Nevada
	NMC897991	EX	25	Excelsior	Nevada
	NMC897992	EX	26	Excelsior	Nevada
	NMC897993	EX	27	Excelsior	Nevada
	NMC897994	EX	28	Excelsior	Nevada
	NMC897995	EX	29	Excelsior	Nevada
	NMC897996	EX	30	Excelsior	Nevada
	NMC897997	EX	31	Excelsior	Nevada
	NMC897998	EX	32	Excelsior	Nevada
	NMC897999	EX	33	Excelsior	Nevada
	NMC898000	EX	34	Excelsior	Nevada
	NMC898001	EX	35	Excelsior	Nevada
	NMC898002	EX	36	Excelsior	Nevada
	NMC898003	EX	37	Excelsior	Nevada
	NMC898004	EX	38	Excelsior	Nevada
	NMC898005	EX	39	Excelsior	Nevada
	NMC898006	EX	40	Excelsior	Nevada
	NMC898007	EX	41	Excelsior	Nevada
	NMC898008	EX	42	Excelsior	Nevada
	NMC898009	EX	43	Excelsior	Nevada
	NMC898010	EX	44	Excelsior	Nevada
	NMC898011	EX	45	Excelsior	Nevada
	NMC898012	EX	46	Excelsior	Nevada
	NMC898013	EX	47	Excelsior	Nevada
	NMC1055250	PM	1	Palmetto	Nevada
	NMC1055251	PM	2	Palmetto	Nevada
	NMC1061180	RR	11	Palmetto	Nevada
	NMC1061181	RR	12	Palmetto	Nevada
	NMC1061182	RR	13	Palmetto	Nevada
	NMC1061183	RR	14	Palmetto	Nevada
	NMC1061184	RR	15	Palmetto	Nevada
	NMC1061185	RR	16	Palmetto	Nevada
	NMC1061186	RR	17	Palmetto	Nevada

 

 

    	 	A-3	 

     

    

 

 

SCHEDULE "B"

 

Net Smelter Returns Royalty

 

Pursuant to the attached Agreement, the Vendor
(in this Schedule "B" only, the "Royalty Holder") is entitled to a royalty equal to 1% of net smelter
returns (the "NSR Royalty") from the Property payable by the Corporation (in this Schedule "B" only, the "Royalty
Payor"). All capitalized terms herein, unless otherwise defined, have the meanings ascribed thereto in the Agreement.

 

	1.		After the Commencement of Commercial Production, the Royalty Payor shall pay to the Royalty
Holder an NSR Royalty equal to 1% of the Net Value of all ores, minerals, metals and materials mined and removed from the Property and
sold or deemed to have been sold by or for the Royalty Payor (collectively, "Products").

 

	2.		As used herein, "Net Value" means the Gross Value of Products, less all
costs, charges and expenses paid or incurred by the Royalty Payor with respect to such Products paid or deemed incurred by the Royalty
Payor before or after such Products leave the Property in respect of the following:

 

	(a)		charges for treatment in the smelting and refining process (including handling, processing,
interest and provisional settlement fees, sampling, assaying and representation costs, penalties and other process deductions);

 

	(b)		actual costs of transportation (including freight, insurance, security, transaction taxes,
handling, port, demurrage, delay and forwarding expenses incurred by reason of or in the course of such transportation) of Products from
the Property to the place of treatment and then to the place of sale;

 

	(c)		actual sales and brokerage costs on Products; and

 

	(d)		sales, use, severance, net proceeds of mine and ad valorem taxes and any other tax
(excluding GST or HST, as applicable) on or measured by mineral production net of any rebate (excluding GST or HST rebates, as applicable),
credit or refund which the Royalty Payor has received or to which it is entitled, but excluding any and all taxes based upon the net
or gross income or outstanding capital of the Royalty Payor or other operator of the Property.

 

	3.		As used herein, "Gross Value" shall have the following meaning:

 

	(a)		if the Royalty Payor causes raw, refined or processed nickel and/or iron, in any form, to
be produced from the Property and sold, then the Gross Value shall be the vamount of the proceeds of sale actually received by the Royalty
Payor on its proportionate share thereof;

 

	(b)		if the Royalty Payor cavuses any other Products to be produced from the Property and sold,
then the Gross Value shall be the amount of the proceeds of sale actually received by the Royalty Payor on its proportionate share thereof;
and

 

	(c)		the proceeds of any insurance settlement arising from a claim for lost or damaged Product.

 

Where payment
is made by an independent third party refinery on a provisional basis, the Gross Value shall be based upon the amount of such provisional
settlement, but shall be adjusted in subsequent statements to account for the amount of the Products established by final settlement
by such refinery.

 

In the
event that smelting, refining or processing of Products are carried out in custom toll facilities owned or controlled in whole or in
part by the Royalty Payor or any of its Affiliates or any other party with which the Royalty Payor does not deal at arm's length (as
defined in the Income Tax Act (Canada)), then charges, costs and penalties for such smelting, refining or processing shall mean
the costs the Royalty Payor would have incurred if such smelting, refining or processing were carried out at facilities owned or controlled
by parties with which it does not deal at arm's length, then offering comparable services for comparable products on prevailing terms,
but in no event greater than actual costs incurred by the Royalty Payor with respect to such smelting, refining or processing.

 

 

    	 	B-1	 

     

    

 

	4.		The timing, nature, manner and extent of any exploration, development, mining, production
and sale of Products, if any, shall be at the sole discretion of the Royalty Payor. No implied covenants or conditions whatsoever shall
be read into this Schedule "B", including any covenants or conditions relating to exploration, development, prospecting,
mining, production or sale of Products, except for the covenants of good faith and fair dealing.

 

	5.		The Royalty Payor may, but is not obligated to, beneficiate, mill, sort, concentrate, refine,
smelt, or otherwise process and upgrade the ores, concentrates, and other mineral products produced from ores mined from the Property
prior to sale, transfer, or conveyance to a purchaser, user or consumer other than the Royalty Payor. The Royalty Payor shall not be
liable for mineral values lost in such processing under sound mining and metallurgical practices. The Royalty Payor shall have the right
to stockpile and commingle ore, concentrates, minerals and other material mined and removed from the Property from which Products are
to be produced with ore, concentrates, minerals and other material mined and removed from other lands and properties; provided, however,
that the Royalty Payor shall calculate from representative samples the average grade thereof and other measures as are appropriate in
accordance with sound mining and metallurgical practices, and shall weigh (or calculate by volume) the material before commingling. In
obtaining representative samples, calculating the average grade of the ore and average recovery percentages, the Royalty Payor may use
any procedures accepted in the mining and metallurgical industry which it believes suitable for the type of mining and processing activity
being conducted and, in the absence of fraud, its choice of such procedures shall be final and binding on the Royalty Holder.

 

	6.		The Royalty Payor shall be permitted to sell Products to an Affiliate or person with which
it does not deal at arm's length, provided that such sales shall be considered, solely for the purpose of computing Net Value, to have
been sold at prices and on terms no less favourable than those which would be extended to an unaffiliated Third Party under similar circumstances.

 

	7.		All Products for which an NSR Royalty is payable shall be weighed or measured, sampled and
analyzed in accordance with sound mining and metallurgical practices. After such measurement, the Royalty Payor may mix or commingle
such Products with ores, materials or products from other Property.

 

	8.		The NSR Royalty shall become due and payable quarterly on the last day of each month following
the last day of the calendar quarter in which the same accrued. NSR Royalty payments shall be accompanied by a statement showing in reasonable
detail the quantities and grades of the Products sold by the Royalty Payor in the preceding calendar quarter; the proceeds of sale; costs,
and other deductions; and other pertinent information in sufficient detail to explain the calculation of the NSR Royalty payment. Should
default be made in any payment due to the Royalty Holder hereunder, then all unpaid amounts shall bear interest at the Prime Rate plus
10% until paid. All payments required hereunder may be mailed or delivered to any single depository as the Royalty Holder may instruct.

 

	9.		All NSR Royalty payments shall be considered final and in full satisfaction of all obligations
of the Royalty Payor with respect thereto, unless the Royalty Holder gives the Royalty Payor written notice describing and setting forth
a specific objection to the calculation thereof within 12 months after receipt by the Royalty Holder of the quarterly statement herein
provided for. If the Royalty Holder objects to a particular quarterly statement as herein provided, the Royalty Holder shall, for a period
of 30 days after the Royalty Payor's receipt of notice of such objection, have the right, upon reasonable notice and at a reasonable
time, to have the Royalty Payor's accounts and records relating to the calculation of the NSR Royalty in question audited by a chartered
accountant acceptable to the Royalty Holder and to the Royalty Payor. If such audit determines that there has been a deficiency or an
excess in the payment made to the Royalty Holder such deficiency or excess shall be resolved by adjusting the next quarterly NSR Royalty
payment due hereunder. The Royalty Holder shall pay all costs of such audit unless a deficiency of more than 10% of the amount due is
determined to exist. The Royalty Payor shall pay the costs of such audit if a deficiency of more than 10% of the amount due is determined
to exist. All books and records used by the Royalty Payor to calculate royalties due hereunder in accordance with generally accepted
accounting principles consistently applied. Absent fraud, failure on the part of the Royalty Holder to make claim on the Royalty Payor
for adjustment in such 12-month period shall establish the correctness and preclude the filing of exceptions thereto or making of claims
for adjustment thereon.

 

	10.		The Royalty Payor agrees and consents to the Royalty Holder registering or recording against
title to the Property the terms and conditions of this Schedule "B" and the existence of the NSR Royalty.

 

 

    	 	B-2	 

     

    

 

	11.		The Royalty Payor shall have the right to assign the Property, in whole or in part and shall
have sole and absolute discretion concerning the sale, assignment, transfer, conveyance, venturing, encumbrance or other disposition
of the Property, in whole or in part, on such terms and conditions as it determines appropriate. The Royalty Payor shall require any
transferee or assignee of any interest in the Property to assume in writing the obligation to pay the Royalty Holder the NSR Royalty
in accordance with the terms and conditions set forth herein, and upon such assumption, the Royalty Payor shall be released from all
liability hereunder with respect to the transferred interest in the Property, except for such liability as has accrued prior thereto.

 

	12.		The Royalty Holder may assign its rights under this Schedule "B"; provided
that any change in ownership of rights shall be accomplished in such manner that the Royalty Payor shall not be required to make payments
to or give notice to more than one person, firm, corporation, or entity. No change or division in the ownership of the NSR Royalty, however
accomplished, shall enlarge the obligations of or diminish the rights of the Royalty Payor. No change or division in the ownership of
the NSR Royalty shall be binding on the Royalty Payor until 10 days after the Royalty Payor has received a copy of the assignment instrument
duly recorded in the applicable recording district evidencing the change or division in ownership.

 

	13.		It is intended that the NSR Royalty and all provisions of this Schedule "B"
shall run with the Property and be binding upon and enure to the benefit of the Royalty Holder and its respective successors and assigns.

 

	14.		One-half (0.5%) of the NSR Royalty may be purchased by the Royalty Payor for $500,000 payable
to the Royalty Holder. An additional one-half (0.5%) of the NSR Royalty may be purchased by the Royalty Payor at fair market value (as
determined at the date of purchase by one or more of the member firms of PricewaterhouseCoopers International Limited, Ernst & Young
Global Limited, KPMG International Cooperative and Deloitte Touche Tohmatsu Limited or any successor or resulting firms or entities).

 

 

    	 	B-3	 

     

    

 

 

SCHEDULE "C"

 

Corporation's Contracts

 

	1.		Insurance Policy with ● dated ●

 

 

 

 

    	 	C-1	 

     

    

 

 

SCHEDULE "D"

 

Corporation's Financial Statements

 

See attached.

 

 

 

 

    	 	D-1Exhibit 4.1

 

NEITHER THIS SECURITY NOR THE SECURITIES FOR
WHICH THIS SECURITY IS EXERCISABLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY
STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”),
AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT
TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE
WITH APPLICABLE STATE SECURITIES LAWS. THIS SECURITY AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS SECURITY MAY BE PLEDGED IN CONNECTION
WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH SECURITIES.

 

COMMON STOCK PURCHASE WARRANT

 

CNS
Pharmaceuticals, Inc.

 

	Warrant Shares: _______	Issue Date:______, 2022
	 	 
	 	Initial Exercise Date: _______, 2022

 

 

THIS COMMON STOCK PURCHASE WARRANT
(the “Warrant”) certifies that, for value received, _____________ or its assigns (the “Holder”)
is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on or after
the date set forth above (the “Initial Exercise Date”) and on or prior to 5:00 p.m. (New York City time) on ______________[1]
(the “Termination Date”) but not thereafter, to subscribe for and purchase from CNS Pharmaceuticals, Inc., a Nevada
corporation (the “Company”), up to ______ shares (as subject to adjustment hereunder, the “Warrant Shares”)
of the Company’s Common Stock. The purchase price of one share of Common Stock under this Warrant shall be equal to the Exercise
Price, as defined in Section 2(b).

 

Section 1.Definitions.
Capitalized terms used and not otherwise defined herein shall have the meanings set forth in that certain Securities Purchase Agreement
(the “Purchase Agreement”), dated January 5, 2022, among the Company and the purchasers signatory thereto.

 

Section 2.Exercise.

 

a)                 
Exercise of Warrant. Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any
time or times on or after the Initial Exercise Date and on or before the Termination Date by delivery to the Company of a duly executed
facsimile copy or PDF copy submitted by e-mail (or e-mail attachment) of the Notice of Exercise in the form annexed hereto (the “Notice
of Exercise”). Within the earlier of (i) two (2) Trading Days and (ii) the number of Trading Days comprising the Standard Settlement
Period (as defined in Section 2(d)(i) herein) following the date of exercise as aforesaid, the Holder shall deliver the aggregate Exercise
Price for the Warrant Shares specified in the applicable Notice of Exercise by wire transfer or cashier’s check drawn on a United
States bank unless the cashless exercise procedure specified in Section 2(c) below is specified in the applicable Notice of Exercise.
No ink-original Notice of Exercise shall be required, nor shall any medallion guarantee (or other type of guarantee or notarization)
of any Notice of Exercise be required. Notwithstanding anything herein to the contrary, the Holder shall not be required to physically
surrender this Warrant to the Company until the Holder has purchased all of the Warrant Shares available hereunder and the Warrant has
been exercised in full, in which case, the Holder shall surrender this Warrant to the Company for cancellation within three (3) Trading
Days of the date on which the final Notice of Exercise is delivered to the Company. Partial exercises of this Warrant resulting in purchases
of a portion of the total number of Warrant Shares available hereunder shall have the effect of lowering the outstanding number of Warrant
Shares purchasable hereunder in an amount equal to the applicable number of Warrant Shares purchased. The Holder and the Company shall
maintain records showing the number of Warrant Shares purchased and the date of such purchases. The Company shall deliver any objection
to any Notice of Exercise within one (1) Trading Day of receipt of such notice. The Holder and any assignee, by acceptance of this
Warrant, acknowledge and agree that, by reason of the provisions of this paragraph, following the purchase of a portion of the Warrant
Shares hereunder, the number of Warrant Shares available for purchase hereunder at any given time may be less than the amount stated
on the face hereof.

 

 

[1]
Insert the date that is the five (5) year anniversary of the Initial Exercise Date, provided that, if such date is not a
Trading Day, insert the immediately following Trading Day.

 

    	 	1	 

     

    

 

b)                 
Exercise Price. The exercise price per share of Common Stock under this Warrant shall be $0.82, subject to adjustment
hereunder (the “Exercise Price”).

 

c)                 
Cashless Exercise. If at the time of exercise hereof there is no effective registration statement registering, or the prospectus
contained therein is not available for the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised, in whole
or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a number of Warrant
Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

 

(A) = as applicable:
(i) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise if such Notice of Exercise is (1)
both executed and delivered pursuant to Section 2(a) hereof on a day that is not a Trading Day or (2) both executed and delivered pursuant
to Section 2(a) hereof on a Trading Day prior to the opening of “regular trading hours” (as defined in Rule 600(b) of Regulation
NMS promulgated under the federal securities laws) on such Trading Day, (ii) at the option of the Holder, either (y) the VWAP on the
Trading Day immediately preceding the date of the applicable Notice of Exercise or (z) the Bid Price of the Common Stock on the principal
Trading Market as reported by Bloomberg L.P. (“Bloomberg”) as of the time of the Holder’s execution of the applicable
Notice of Exercise if such Notice of Exercise is executed during “regular trading hours” on a Trading Day and is delivered
within two (2) hours thereafter (including until two (2) hours after the close of “regular trading hours” on a Trading Day)
pursuant to Section 2(a) hereof or (iii) the VWAP on the date of the applicable Notice of Exercise if the date of such Notice of Exercise
is a Trading Day and such Notice of Exercise is both executed and delivered pursuant to Section 2(a) hereof after the close of “regular
trading hours” on such Trading Day;

 

(B) = the Exercise
Price of this Warrant, as adjusted hereunder; and 

 

(X) = the number
of Warrant Shares that would be issuable upon exercise of this Warrant in accordance with the terms of this Warrant if such exercise
were by means of a cash exercise rather than a cashless exercise. 

 

“Bid Price”
means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then listed or
quoted on a Trading Market, the bid price of the Common Stock for the time in question (or the nearest preceding date) on the Trading
Market on which the Common Stock is then listed or quoted as reported by Bloomberg (based on a Trading Day from 9:30 a.m. (New York City
time) to 4:02 p.m. (New York City time)), (b) if OTCQB or OTCQX is not a Trading Market, the volume weighted average price of the Common
Stock for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable, (c) if the Common Stock is not then listed or quoted
for trading on OTCQB or OTCQX and if prices for the Common Stock are then reported on The Pink Open Market (or a similar organization
or agency succeeding to its functions of reporting prices), the most recent bid price per share of the Common Stock so reported, or (d)
in all other cases, the fair market value of a share of Common Stock as determined by an independent appraiser selected in good faith
by the Holders of a majority in interest of the Securities then outstanding and reasonably acceptable to the Company, the fees and expenses
of which shall be paid by the Company.

 

“VWAP”
means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then listed or
quoted on a Trading Market, the daily volume weighted average price of the Common Stock for such date (or the nearest preceding date)
on the Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg (based on a Trading Day from 9:30 a.m.
(New York City time) to 4:02 p.m. (New York City time)), (b)  if OTCQB or OTCQX is not a Trading Market, the volume weighted average
price of the Common Stock for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable, (c) if the Common Stock is not
then listed or quoted for trading on OTCQB or OTCQX and if prices for the Common Stock are then reported on The Pink Open Market (or a
similar organization or agency succeeding to its functions of reporting prices), the most recent bid price per share of the Common Stock
so reported, or (d) in all other cases, the fair market value of a share of Common Stock as determined by an independent appraiser
selected in good faith by the Holders of a majority in interest of the Securities then outstanding and reasonably acceptable to the Company,
the fees and expenses of which shall be paid by the Company.

 

 

    	 	2	 

     

    

 

If Warrant Shares
are issued in such a cashless exercise, the parties acknowledge and agree that in accordance with Section 3(a)(9) of the Securities Act,
the Warrant Shares shall take on the characteristics of the Warrants being exercised, and the holding period of the Warrant Shares being
issued may be tacked on to the holding period of this Warrant.  The Company agrees not to take any position contrary to this
Section 2(c).

 

Notwithstanding
anything herein to the contrary, on the Termination Date, this Warrant shall be automatically exercised via cashless exercise pursuant
to this Section 2(c).

 

d)                 
Mechanics of Exercise.

 

i.           
Delivery of Warrant Shares Upon Exercise. The Company shall cause the Warrant Shares purchased hereunder to be transmitted
by the Transfer Agent to the Holder by crediting the account of the Holder’s or its designee’s balance account with The Depository
Trust Company through its Deposit or Withdrawal at Custodian system (“DWAC”) if the Company is then a participant in
such system and either (A) there is an effective registration statement permitting the issuance of the Warrant Shares to or resale of
the Warrant Shares by the Holder or (B) the Warrant Shares are eligible for resale by the Holder without volume or manner-of-sale limitations
pursuant to Rule 144 (assuming cashless exercise of the Warrants), and otherwise by physical delivery of a certificate, registered in
the Company’s share register in the name of the Holder or its designee, for the number of Warrant Shares to which the Holder is
entitled pursuant to such exercise to the address specified by the Holder in the Notice of Exercise by the date that is the earliest of
(i) two (2) Trading Days after the delivery to the Company of the Notice of Exercise, (ii) one (1) Trading Day after delivery of the aggregate
Exercise Price to the Company and (iii) the number of Trading Days comprising the Standard Settlement Period after the delivery to the
Company of the Notice of Exercise (such date, the “Warrant Share Delivery Date”). Upon delivery of the Notice of Exercise,
the Holder shall be deemed for all corporate purposes to have become the holder of record of the Warrant Shares with respect to which
this Warrant has been exercised, irrespective of the date of delivery of the Warrant Shares, provided that payment of the aggregate Exercise
Price (other than in the case of a cashless exercise) is received by the Warrant Share Delivery Date. If the Company fails for any reason
to deliver to the Holder the Warrant Shares subject to a Notice of Exercise by the Warrant Share Delivery Date, the Company shall pay
to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of Warrant Shares subject to such exercise (based
on the VWAP of the Common Stock on the date of the applicable Notice of Exercise), $10 per Trading Day (increasing to $20 per Trading
Day on the third Trading Day after the Warrant Share Delivery Date) for each Trading Day after such Warrant Share Delivery Date until
such Warrant Shares are delivered or Holder rescinds such exercise. The Company agrees to maintain a transfer agent that is a participant
in the FAST program so long as this Warrant remains outstanding and exercisable. As used herein, “Standard Settlement Period”
means the standard settlement period, expressed in a number of Trading Days, on the Company’s primary Trading Market with respect
to the Common Stock as in effect on the date of delivery of the Notice of Exercise.

 

ii.           
Delivery of New Warrants Upon Exercise. If this Warrant shall have been exercised in part, the Company shall, at the request
of a Holder and upon surrender of this Warrant certificate, at the time of delivery of the Warrant Shares, deliver to the Holder a new
Warrant evidencing the rights of the Holder to purchase the unpurchased Warrant Shares called for by this Warrant, which new Warrant shall
in all other respects be identical with this Warrant.

 

iii.           
Rescission Rights. If the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares pursuant
to Section 2(d)(i) by the Warrant Share Delivery Date, then the Holder will have the right to rescind such exercise.

 

 

 

    	 	3	 

     

    

 

iv.           
Compensation for Buy-In on Failure to Timely Deliver Warrant Shares Upon Exercise. In addition to any other rights available
to the Holder, if the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares in accordance with the provisions
of Section 2(d)(i) above pursuant to an exercise on or before the Warrant Share Delivery Date, and if after such date the Holder is required
by its broker to purchase (in an open market transaction or otherwise) or the Holder’s brokerage firm otherwise purchases, shares
of Common Stock to deliver in satisfaction of a sale by the Holder of the Warrant Shares which the Holder anticipated receiving upon such
exercise (a “Buy-In”), then the Company shall (A) pay in cash to the Holder the amount, if any, by which (x) the Holder’s
total purchase price (including brokerage commissions, if any) for the shares of Common Stock so purchased exceeds (y) the amount obtained
by multiplying (1) the number of Warrant Shares that the Company was required to deliver to the Holder in connection with the exercise
at issue times (2) the price at which the sell order giving rise to such purchase obligation was executed, and (B) at the option of the
Holder, either reinstate the portion of the Warrant and equivalent number of Warrant Shares for which such exercise was not honored (in
which case such exercise shall be deemed rescinded) or deliver to the Holder the number of shares of Common Stock that would have been
issued had the Company timely complied with its exercise and delivery obligations hereunder. For example, if the Holder purchases Common
Stock having a total purchase price of $11,000 to cover a Buy-In with respect to an attempted exercise of shares of Common Stock with
an aggregate sale price giving rise to such purchase obligation of $10,000, under clause (A) of the immediately preceding sentence the
Company shall be required to pay the Holder $1,000. The Holder shall provide the Company written notice indicating the amounts payable
to the Holder in respect of the Buy-In and, upon request of the Company, evidence of the amount of such loss. Nothing herein shall limit
a Holder’s right to pursue any other remedies available to it hereunder, at law or in equity including, without limitation, a decree
of specific performance and/or injunctive relief with respect to the Company’s failure to timely deliver shares of Common Stock
upon exercise of the Warrant as required pursuant to the terms hereof.

 

v.           
No Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise
of this Warrant. As to any fraction of a share which the Holder would otherwise be entitled to purchase upon such exercise, the Company
shall, at its election, either pay a cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied
by the Exercise Price or round up to the next whole share.

 

vi.           
Charges, Taxes and Expenses. Issuance of Warrant Shares shall be made without charge to the Holder for any issue or transfer
tax or other incidental expense in respect of the issuance of such Warrant Shares, all of which taxes and expenses shall be paid by the
Company, and such Warrant Shares shall be issued in the name of the Holder or in such name or names as may be directed by the Holder;
provided, however, that in the event that Warrant Shares are to be issued in a name other than the name of the Holder, this
Warrant when surrendered for exercise shall be accompanied by the Assignment Form attached hereto duly executed by the Holder and the
Company may require, as a condition thereto, the payment of a sum sufficient to reimburse it for any transfer tax incidental thereto.
The Company shall pay all Transfer Agent fees required for same-day processing of any Notice of Exercise and all fees to the Depository
Trust Company (or another established clearing corporation performing similar functions) required for same-day electronic delivery of
the Warrant Shares.

 

vii.           
Closing of Books. The Company will not close its stockholder books or records in any manner which prevents the timely exercise
of this Warrant, pursuant to the terms hereof.

 

 

 

    	 	4	 

     

    

 

e)                 
Holder’s Exercise Limitations. The Company shall not effect any exercise of this Warrant, and a Holder shall not have
the right to exercise any portion of this Warrant, pursuant to Section 2 or otherwise, to the extent that after giving effect to such
issuance after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s Affiliates, and
any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates (such Persons, “Attribution
Parties”)), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below).  For purposes of
the foregoing sentence, the number of shares of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties
shall include the number of shares of Common Stock issuable upon exercise of this Warrant with respect to which such determination is
being made, but shall exclude the number of shares of Common Stock which would be issuable upon (i) exercise of the remaining, nonexercised
portion of this Warrant beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion
of the unexercised or nonconverted portion of any other securities of the Company (including, without limitation, any other Common Stock
Equivalents) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the
Holder or any of its Affiliates or Attribution Parties.  Except as set forth in the preceding sentence, for purposes of this Section
2(e), beneficial ownership shall be calculated in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated
thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance
with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith.
To the extent that the limitation contained in this Section 2(e) applies, the determination of whether this Warrant is exercisable (in
relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of this Warrant
is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s
determination of whether this Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates
and Attribution Parties) and of which portion of this Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation,
and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any
group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations
promulgated thereunder. For purposes of this Section 2(e), in determining the number of outstanding shares of Common Stock, a Holder may
rely on the number of outstanding shares of Common Stock as reflected in (A) the Company’s most recent periodic or annual report
filed with the Commission, as the case may be, (B) a more recent public announcement by the Company or (C) a more recent written notice
by the Company or the Transfer Agent setting forth the number of shares of Common Stock outstanding.  Upon the written or oral request
of a Holder, the Company shall within one (1) Trading Day confirm orally and in writing to the Holder the number of shares of Common Stock
then outstanding.  In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion
or exercise of securities of the Company, including this Warrant, by the Holder or its Affiliates or Attribution Parties since the date
as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall
be [4.99%/9.99%] of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of
Common Stock issuable upon exercise of this Warrant. The Holder, upon notice to the Company, may increase or decrease the Beneficial Ownership
Limitation provisions of this Section 2(e), provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number
of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon exercise of this
Warrant held by the Holder and the provisions of this Section 2(e) shall continue to apply. Any increase in the Beneficial Ownership Limitation
will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall
be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 2(e) to correct this paragraph
(or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to
make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph
shall apply to a successor holder of this Warrant.

 

 

    	 	5	 

     

    

 

Section 3.Certain
Adjustments.

 

a)                 
Stock Dividends and Splits. If the Company, at any time while this Warrant is outstanding: (i) pays a stock dividend or
otherwise makes a distribution or distributions on shares of its Common Stock or any other equity or equity equivalent securities payable
in shares of Common Stock (which, for avoidance of doubt, shall not include any shares of Common Stock issued by the Company upon exercise
of this Warrant), (ii) subdivides outstanding shares of Common Stock into a larger number of shares, (iii) combines (including by way
of reverse stock split) outstanding shares of Common Stock into a smaller number of shares, or (iv) issues by reclassification of shares
of the Common Stock any shares of capital stock of the Company, then in each case the Exercise Price shall be multiplied by a fraction
of which the numerator shall be the number of shares of Common Stock (excluding treasury shares, if any) outstanding immediately before
such event and of which the denominator shall be the number of shares of Common Stock outstanding immediately after such event, and the
number of shares issuable upon exercise of this Warrant shall be proportionately adjusted such that the aggregate Exercise Price of this
Warrant shall remain unchanged. Any adjustment made pursuant to this Section 3(a) shall become effective immediately after the record
date for the determination of stockholders entitled to receive such dividend or distribution and shall become effective immediately after
the effective date in the case of a subdivision, combination or re-classification.

 

b)                 
Subsequent Rights Offerings. In addition to any adjustments pursuant to Section 3(a) above, if at any time the Company grants,
issues or sells any Common Stock Equivalents or rights to purchase stock, warrants, securities or other property pro rata to the record
holders of any class of shares of Common Stock (the “Purchase Rights”), then the Holder will be entitled to acquire,
upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired if the Holder had
held the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without regard to any limitations on exercise
hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the date on which a record is taken for
the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders of shares
of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights (provided, however, that to the
extent that the Holder’s right to participate in any such Purchase Right would result in the Holder exceeding the Beneficial Ownership
Limitation, then the Holder shall not be entitled to participate in such Purchase Right to such extent (or beneficial ownership of such
shares of Common Stock as a result of such Purchase Right to such extent) and such Purchase Right to such extent shall be held in abeyance
for the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation).

 

c)                 
Pro Rata Distributions. During such time as this Warrant is outstanding, if the Company shall declare or make any dividend
or other distribution of its assets (or rights to acquire its assets) to holders of shares of Common Stock, by way of return of capital
or otherwise (including, without limitation, any distribution of cash, stock or other securities, property or options by way of a dividend,
spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar transaction) (a “Distribution”),
at any time after the issuance of this Warrant, then, in each such case, the Holder shall be entitled to participate in such Distribution
to the same extent that the Holder would have participated therein if the Holder had held the number of shares of Common Stock acquirable
upon complete exercise of this Warrant (without regard to any limitations on exercise hereof, including without limitation, the Beneficial
Ownership Limitation) immediately before the date of which a record is taken for such Distribution, or, if no such record is taken, the
date as of which the record holders of shares of Common Stock are to be determined for the participation in such Distribution (provided,
however, that to the extent that the Holder's right to participate in any such Distribution would result in the Holder exceeding
the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Distribution to such extent (or in the
beneficial ownership of any shares of Common Stock as a result of such Distribution to such extent) and the portion of such Distribution
shall be held in abeyance for the benefit of the Holder until such time, if ever, as its right thereto would not result in the Holder
exceeding the Beneficial Ownership Limitation).

 

 

 

    	 	6	 

     

    

 

d)                 
Fundamental Transaction. If, at any time while this Warrant is outstanding, (i) the Company, directly or indirectly, in
one or more related transactions effects any merger or consolidation of the Company with or into another Person, (ii) the Company (and
all of its Subsidiaries, taken as a whole), directly or indirectly, effects any sale, lease, license, assignment, transfer, conveyance
or other disposition of all or substantially all of its assets in one or a series of related transactions, (iii) any, direct or indirect,
purchase offer, tender offer or exchange offer (whether by the Company or another Person) is completed pursuant to which holders of Common
Stock are permitted to sell, tender or exchange their shares for other securities, cash or property and has been accepted by the holders
of 50% or more of the outstanding Common Stock, (iv) the Company, directly or indirectly, in one or more related transactions effects
any reclassification, reorganization or recapitalization of the Common Stock or any compulsory share exchange pursuant to which the Common
Stock is effectively converted into or exchanged for other securities, cash or property, or (v) the Company, directly or indirectly, in
one or more related transactions consummates a stock or share purchase agreement or other business combination (including, without limitation,
a reorganization, recapitalization, spin-off, merger or scheme of arrangement) with another Person or group of Persons whereby such other
Person or group acquires more than 50% of the outstanding shares of Common Stock (not including any shares of Common Stock held by the
other Person or other Persons making or party to, or associated or affiliated with the other Persons making or party to, such stock or
share purchase agreement or other business combination) (each a “Fundamental Transaction”), then, upon any subsequent
exercise of this Warrant, the Holder shall have the right to receive, for each Warrant Share that would have been issuable upon such exercise
immediately prior to the occurrence of such Fundamental Transaction, at the option of the Holder (without regard to any limitation in
Section 2(e) on the exercise of this Warrant), the number of shares of Common Stock of the successor or acquiring corporation or of the
Company, if it is the surviving corporation, and any additional consideration (the “Alternate Consideration”) receivable
as a result of such Fundamental Transaction by a holder of the number of shares of Common Stock for which this Warrant is exercisable
immediately prior to such Fundamental Transaction (without regard to any limitation in Section 2(e) on the exercise of this Warrant).
For purposes of any such exercise, the determination of the Exercise Price shall be appropriately adjusted to apply to such Alternate
Consideration based on the amount of Alternate Consideration issuable in respect of one share of Common Stock in such Fundamental Transaction,
and the Company shall apportion the Exercise Price among the Alternate Consideration in a reasonable manner reflecting the relative value
of any different components of the Alternate Consideration. If holders of Common Stock are given any choice as to the securities, cash
or property to be received in a Fundamental Transaction, then the Holder shall be given the same choice as to the Alternate Consideration
it receives upon any exercise of this Warrant following such Fundamental Transaction. Notwithstanding anything to the contrary, in the
event of a Fundamental Transaction, the Company or any Successor Entity (as defined below) shall, at the Holder’s option, exercisable
at any time concurrently with, or within 30 days after, the consummation of the Fundamental Transaction (or, if later, the date of the
public announcement of the applicable Fundamental Transaction), purchase this Warrant from the Holder by paying to the Holder an amount
of cash equal to the Black Scholes Value (as defined below) of the remaining unexercised portion of this Warrant on the date of the consummation
of such Fundamental Transaction; provided, however, that if the Fundamental Transaction is not within the Company's control, including
not approved by the Company's Board of Directors, Holder shall only be entitled to receive from the Company or any Successor Entity the
same type or form of consideration (and in the same proportion), at the Black Scholes Value of the unexercised portion of this Warrant,
that is being offered and paid to the holders of Common Stock of the Company in connection with the Fundamental Transaction, whether that
consideration be in the form of cash, stock or any combination thereof, or whether the holders of Common Stock are given the choice to
receive from among alternative forms of consideration in connection with the Fundamental Transaction; provided, further, that if holders
of Common Stock of the Company are not offered or paid any consideration in such Fundamental Transaction, such holders of Common Stock
will be deemed to have received common stock of the Successor Entity (which Entity may be the Company following such Fundamental Transaction)
in such Fundamental Transaction. “Black Scholes Value” means the value of this Warrant based on the Black Scholes Option
Pricing Model obtained from the “OV” function on Bloomberg determined as of the day of consummation of the applicable Fundamental
Transaction for pricing purposes and reflecting (A) a risk-free interest rate corresponding to the U.S. Treasury rate for a period equal
to the time between the date of the public announcement of the applicable Fundamental Transaction and the Termination Date, (B) an expected
volatility equal to the greater of 100% and the 100 day volatility obtained from the HVT function on Bloomberg (determined utilizing a
365-day annualization factor) as of the Trading Day immediately following the public announcement of the applicable Fundamental Transaction,
(C) the underlying price per share used in such calculation shall be the greater of (i) the sum of the price per share being offered in
cash, if any, plus the value of any non-cash consideration, if any, being offered in such Fundamental Transaction and (ii) the highest
VWAP during the period beginning on the Trading Day immediately preceding the announcement of the applicable Fundamental Transaction (or
the consummation of the applicable Fundamental Transaction, if earlier) and ending on the Trading Day of the Holder’s request pursuant
to this Section 3(d) and (D) a remaining option time equal to the time between the date of the public announcement of the applicable Fundamental
Transaction and the Termination Date and (E) a zero cost of borrow. The payment of the Black Scholes Value will be made by wire transfer
of immediately available funds (or such other consideration) within the later of (i) five (5) Trading Days of the Holder’s election
and (ii) the date of consummation of the Fundamental Transaction. The Company shall cause any successor entity in a Fundamental Transaction
in which the Company is not the survivor (the “Successor Entity”) to assume in writing all of the obligations of the
Company under this Warrant and the other Transaction Documents in accordance with the provisions of this Section 3(d) pursuant to written
agreements in form and substance reasonably satisfactory to the Holder and approved by the Holder (without unreasonable delay) prior to
such Fundamental Transaction and shall, at the option of the Holder, deliver to the Holder in exchange for this Warrant a security of
the Successor Entity evidenced by a written instrument substantially similar in form and substance to this Warrant which is exercisable
for a corresponding number of shares of capital stock of such Successor Entity (or its parent entity) equivalent to the shares of Common
Stock acquirable and receivable upon exercise of this Warrant (without regard to any limitations on the exercise of this Warrant) prior
to such Fundamental Transaction, and with an exercise price which applies the exercise price hereunder to such shares of capital stock
(but taking into account the relative value of the shares of Common Stock pursuant to such Fundamental Transaction and the value of such
shares of capital stock, such number of shares of capital stock and such exercise price being for the purpose of protecting the economic
value of this Warrant immediately prior to the consummation of such Fundamental Transaction), and which is reasonably satisfactory in
form and substance to the Holder. Upon the occurrence of any such Fundamental Transaction, the Successor Entity shall succeed to, and
be substituted for (so that from and after the date of such Fundamental Transaction, the provisions of this Warrant and the other Transaction
Documents referring to the “Company” shall refer instead to the Successor Entity), and may exercise every right and power
of the Company and shall assume all of the obligations of the Company under this Warrant and the other Transaction Documents with the
same effect as if such Successor Entity had been named as the Company herein.

 

 

    	 	7	 

     

    

 

e)                 
Calculations. All calculations under this Section 3 shall be made to the nearest cent or the nearest 1/100th of a share,
as the case may be. For purposes of this Section 3, the number of shares of Common Stock deemed to be issued and outstanding as of a given
date shall be the sum of the number of shares of Common Stock (excluding treasury shares, if any) issued and outstanding.

 

f)                  
Notice to Holder.

 

i.           
Adjustment to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 3, the Company
shall promptly deliver to the Holder by facsimile or email a notice setting forth the Exercise Price after such adjustment and any resulting
adjustment to the number of Warrant Shares and setting forth a brief statement of the facts requiring such adjustment.

 

ii.           
Notice to Allow Exercise by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever form)
on the Common Stock, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock, (C) the
Company shall authorize the granting to all holders of the Common Stock rights or warrants to subscribe for or purchase any shares of
capital stock of any class or of any rights, (D) the approval of any stockholders of the Company shall be required in connection with
any reclassification of the Common Stock, any consolidation or merger to which the Company is a party, any sale or transfer of all or
substantially all of the assets of the Company, or any compulsory share exchange whereby the Common Stock is converted into other securities,
cash or property, or (E) the Company shall authorize the voluntary or involuntary dissolution, liquidation or winding up of the affairs
of the Company, then, in each case, the Company shall cause to be delivered by facsimile or email to the Holder at its last facsimile
number or email address as it shall appear upon the Warrant Register of the Company, at least 20 calendar days prior to the applicable
record or effective date hereinafter specified, a notice stating (x) the date on which a record is to be taken for the purpose of such
dividend, distribution, redemption, rights or warrants, or if a record is not to be taken, the date as of which the holders of the Common
Stock of record to be entitled to such dividend, distributions, redemption, rights or warrants are to be determined or (y) the date on
which such reclassification, consolidation, merger, sale, transfer or share exchange is expected to become effective or close, and the
date as of which it is expected that holders of the Common Stock of record shall be entitled to exchange their shares of the Common Stock
for securities, cash or other property deliverable upon such reclassification, consolidation, merger, sale, transfer or share exchange;
provided that the failure to deliver such notice or any defect therein or in the delivery thereof shall not affect the validity of the
corporate action required to be specified in such notice. To the extent that any notice provided in this Warrant constitutes, or contains,
material, non-public information regarding the Company or any of the Subsidiaries, the Company shall simultaneously file such notice with
the Commission pursuant to a Current Report on Form 8-K. The Holder shall remain entitled to exercise this Warrant during the period commencing
on the date of such notice to the effective date of the event triggering such notice except as may otherwise be expressly set forth herein.

 

Section 4.Transfer
of Warrant.

 

a)                 
Transferability. Subject to compliance with any applicable securities laws and the conditions set forth in Section 4(d)
hereof and to the provisions of Section 4.1 of the Purchase Agreement, this Warrant and all rights hereunder (including, without limitation,
any registration rights) are transferable, in whole or in part, upon surrender of this Warrant at the principal office of the Company
or its designated agent, together with a written assignment of this Warrant substantially in the form attached hereto duly executed by
the Holder or its agent or attorney and funds sufficient to pay any transfer taxes payable upon the making of such transfer. Upon such
surrender and, if required, such payment, the Company shall execute and deliver a new Warrant or Warrants in the name of the assignee
or assignees, as applicable, and in the denomination or denominations specified in such instrument of assignment, and shall issue to the
assignor a new Warrant evidencing the portion of this Warrant not so assigned, and this Warrant shall promptly be cancelled. Notwithstanding
anything herein to the contrary, the Holder shall not be required to physically surrender this Warrant to the Company unless the Holder
has assigned this Warrant in full, in which case, the Holder shall surrender this Warrant to the Company within three (3) Trading Days
of the date on which the Holder delivers an assignment form to the Company assigning this Warrant in full. The Warrant, if properly assigned
in accordance herewith, may be exercised by a new holder for the purchase of Warrant Shares without having a new Warrant issued.

 

 

    	 	8	 

     

    

 

b)                 
New Warrants. This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office
of the Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by
the Holder or its agent or attorney. Subject to compliance with Section 4(a), as to any transfer which may be involved in such division
or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants to be divided
or combined in accordance with such notice. All Warrants issued on transfers or exchanges shall be dated the Issue Date of this Warrant
and shall be identical with this Warrant except as to the number of Warrant Shares issuable pursuant thereto.

 

c)                 
Warrant Register. The Company shall register this Warrant, upon records to be maintained by the Company for that purpose
(the “Warrant Register”), in the name of the record Holder hereof from time to time. The Company may deem and treat
the registered Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder,
and for all other purposes, absent actual notice to the contrary.

 

d)                 
Transfer Restrictions. If, at the time of the surrender of this Warrant in connection with any transfer of this Warrant,
the transfer of this Warrant shall not be either (i) registered pursuant to an effective registration statement under the Securities Act
and under applicable state securities or blue sky laws or (ii) eligible for resale without volume or manner-of-sale restrictions or current
public information requirements pursuant to Rule 144, the Company may require, as a condition of allowing such transfer, that the Holder
or transferee of this Warrant, as the case may be, comply with the provisions of Section 5.7 of the Purchase Agreement.

 

e)                 
Representation by the Holder. The Holder, by the acceptance hereof, represents and warrants that it is acquiring this Warrant
and, upon any exercise hereof, will acquire the Warrant Shares issuable upon such exercise, for its own account and not with a view to
or for distributing or reselling such Warrant Shares or any part thereof in violation of the Securities Act or any applicable state securities
law, except pursuant to sales registered or exempted under the Securities Act.

 

Section 5.Miscellaneous.

 

a)                 
No Rights as Stockholder Until Exercise; No Settlement in Cash. This Warrant does not entitle the Holder to any voting rights,
dividends or other rights as a stockholder of the Company prior to the exercise hereof as set forth in Section 2(d)(i), except as expressly
set forth in Section 3. Without limiting the rights of a Holder to receive Warrant Shares on a “cashless exercise,” and to
receive the cash payments contemplated pursuant to Sections 2(d)(i) and 2(d)(iv), in no event will the Company be required to net cash
settle an exercise of this Warrant.

 

b)                 
Loss, Theft, Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably
satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to the Warrant Shares,
and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in the case of the Warrant,
shall not include the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate, if mutilated, the
Company will make and deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation, in lieu of such Warrant
or stock certificate.

 

c)                 
Saturdays, Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right
required or granted herein shall not be a Trading Day, then, such action may be taken or such right may be exercised on the next succeeding
Trading Day.

 

 

    	 	9	 

     

    

 

d)                 
Authorized Shares.

 

The Company covenants
that, during the period the Warrant is outstanding, it will reserve from its authorized and unissued Common Stock a sufficient number
of shares to provide for the issuance of the Warrant Shares upon the exercise of any purchase rights under this Warrant. The Company further
covenants that its issuance of this Warrant shall constitute full authority to its officers who are charged with the duty of issuing the
necessary Warrant Shares upon the exercise of the purchase rights under this Warrant. The Company will take all such reasonable action
as may be necessary to assure that such Warrant Shares may be issued as provided herein without violation of any applicable law or regulation,
or of any requirements of the Trading Market upon which the Common Stock may be listed. The Company covenants that all Warrant Shares
which may be issued upon the exercise of the purchase rights represented by this Warrant will, upon exercise of the purchase rights represented
by this Warrant and payment for such Warrant Shares in accordance herewith, be duly authorized, validly issued, fully paid and nonassessable
and free from all taxes, liens and charges created by the Company in respect of the issue thereof (other than taxes in respect of any
transfer occurring contemporaneously with such issue).

 

Except and to the
extent as waived or consented to by the Holder, the Company shall not by any action, including, without limitation, amending its certificate
of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or
any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, but will at all
times in good faith assist in the carrying out of all such terms and in the taking of all such actions as may be necessary or appropriate
to protect the rights of Holder as set forth in this Warrant against impairment. Without limiting the generality of the foregoing, the
Company will (i) not increase the par value of any Warrant Shares above the amount payable therefor upon such exercise immediately prior
to such increase in par value, (ii) take all such action as may be necessary or appropriate in order that the Company may validly and
legally issue fully paid and nonassessable Warrant Shares upon the exercise of this Warrant and (iii) use commercially reasonable efforts
to obtain all such authorizations, exemptions or consents from any public regulatory body having jurisdiction thereof, as may be, necessary
to enable the Company to perform its obligations under this Warrant.

 

Before taking any
action which would result in an adjustment in the number of Warrant Shares for which this Warrant is exercisable or in the Exercise Price,
the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary from any public regulatory
body or bodies having jurisdiction thereof.

 

e)                 
Jurisdiction. All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall
be determined in accordance with the provisions of the Purchase Agreement.

 

f)                  
Restrictions. The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered,
and the Holder does not utilize cashless exercise, will have restrictions upon resale imposed by state and federal securities laws.

 

g)                 
Nonwaiver and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder
shall operate as a waiver of such right or otherwise prejudice the Holder’s rights, powers or remedies, notwithstanding the fact
that the right to exercise this Warrant terminates on the Termination Date. Without limiting any other provision of this Warrant, if the
Company willfully and knowingly fails to comply with any provision of this Warrant, which results in any material damages to the Holder,
the Company shall pay to the Holder such amounts as shall be sufficient to cover any costs and expenses including, but not limited to,
reasonable attorneys’ fees, including those of appellate proceedings, incurred by the Holder in collecting any amounts due pursuant
hereto or in otherwise enforcing any of its rights, powers or remedies hereunder.

 

h)                 
Notices. Any notice, request or other document required or permitted to be given or delivered to the Holder by the Company
shall be delivered in accordance with the notice provisions of the Purchase Agreement.

 

 

    	 	10	 

     

    

 

i)                  
Limitation of Liability. No provision hereof, in the absence of any affirmative action by the Holder to exercise this Warrant
to purchase Warrant Shares, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of the
Holder for the purchase price of any Common Stock or as a stockholder of the Company, whether such liability is asserted by the Company
or by creditors of the Company.

 

j)                  
Remedies. The Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages,
will be entitled to specific performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate
compensation for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive and not to
assert the defense in any action for specific performance that a remedy at law would be adequate.

 

k)                 
Successors and Assigns. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby
shall inure to the benefit of and be binding upon the successors and permitted assigns of the Company and the successors and permitted
assigns of Holder. The provisions of this Warrant are intended to be for the benefit of any Holder from time to time of this Warrant and
shall be enforceable by the Holder or holder of Warrant Shares.

 

l)                  
Amendment. This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company,
on the one hand, and the Holder of this Warrant, on the other hand.

 

m)              
Severability. Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and
valid under applicable law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision
shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining
provisions of this Warrant.

 

n)                 
Headings. The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be
deemed a part of this Warrant.

 

 

********************

 

(Signature Page Follows)

 

 

    	 	11	 

     

    

 

 

IN WITNESS WHEREOF, the Company
has caused this Warrant to be executed by its officer thereunto duly authorized as of the date first above indicated.

 

 

	 	
    CNS Pharmaceuticals,
Inc. 

     

     

	 	
    By:_______________________________

    Name: 

    Title:

 

 

 

 

 

    	 	12	 

     

    

 

 

NOTICE OF EXERCISE

 

To:CNS
Pharmaceuticals, Inc.

 

(1)  
The undersigned hereby elects to purchase ________ Warrant Shares of the Company pursuant to the terms of the attached Warrant
(only if exercised in full), and tenders herewith payment of the exercise price in full, together with all applicable transfer taxes,
if any.

 

(2)  
Payment shall take the form of (check applicable box):

 

[ ] in lawful money
of the United States; or

 

[ ] if permitted the
cancellation of such number of Warrant Shares as is necessary, in accordance with the formula set forth in subsection 2(c), to exercise
this Warrant with respect to the maximum number of Warrant Shares purchasable pursuant to the cashless exercise procedure set forth in
subsection 2(c).

 

(3)  
Please issue said Warrant Shares in the name of the undersigned or in such other name as is specified below:

 

_______________________________

 

 

The Warrant Shares shall be delivered to the
following DWAC Account Number:

  

_______________________________ 

 

_______________________________ 

 

_______________________________ 

 

(4)  
Accredited Investor. The undersigned is an “accredited investor” as defined in Regulation D promulgated under
the Securities Act of 1933, as amended. 

 

 

[SIGNATURE
OF HOLDER]

 

Name of Investing Entity: ________________________________________________________________________

 

Signature of Authorized Signatory of Investing
Entity: _________________________________________________

 

Name of Authorized Signatory: ___________________________________________________________________

 

Title of Authorized Signatory: ____________________________________________________________________

 

Date: ________________________________________________________________________________________

 

 

    	 	 	 

     

    

 

EXHIBIT B

 

 

ASSIGNMENT FORM

 

(To assign the foregoing
Warrant, execute this form and supply required information. Do not use this form to exercise the Warrant to purchase shares.)

 

FOR VALUE RECEIVED, the foregoing
Warrant and all rights evidenced thereby are hereby assigned to

 

	Name:	______________________________________
	 	(Please Print)
	 	 
	Address:	______________________________________
	
     

     

    Phone Number:

     

    Email Address:

     
	
    (Please Print)

     

    ______________________________________

     

    ______________________________________

     

	Dated: _______________ __, ______	 
	Holder’s Signature:_______________	 
	Holder’s Address:________________

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