Document:

Second Amendment Agreement to that certain Stock Interest Pledge Agreement

 EXHIBIT 10.4 
 EXECUTION VERSION 
 SECOND AMENDMENT AGREEMENT to that certain Stock Pledge
Agreement, dated January 10, 2013 (this “Amendment Agreement”) entered into by and among MTC Puerta México, S. de R.L. de C.V. (“MTC”) and Highstar Harbor Holdings México, S. de R.L. de C.V
(“HHH” and together with MTC, the “Pledgors” and each a “Pledgor”), Vamos a México, S.A. de C.V. (the “Company”), JPMorgan Chase Bank, N.A., as Collateral Agent, acting on
its own behalf and on behalf and for the benefit of the Secured Parties as pledgee (hereinafter, together with its successors or assigns, the “Pledgee”, and together with the Pledgors and the Company, the “Parties”)
(capitalized terms used and not defined herein shall have the meanings ascribed to them in the Original Stock Pledge Agreement (as defined below)). 
 RECITALS 
 WHEREAS, on August 30, 2010, Kansas City
Southern de México, S.A. de C.V. (“KCSM”), as borrower, entered into a Credit Agreement for the maximum principal amount of US$100,000,000.00 (one hundred million dollars 00/100, currency of the United States of America) (the
“Original Credit Agreement”), with various financial institutions and other persons from time to time parties thereto or that subsequently became parties thereto (including their successors and assigns) as lenders, The Bank of Nova
Scotia, as administrative agent, Scotiabank Inverlat, S.A., Institución de Banca Múltiple, Grupo Financiero Scotiabank Inverlat, as Collateral Agent, and The Bank of Nova Scotia and Banc of America Securities LLC, as joint lead
arrangers and joint bookrunners. 
 WHEREAS, on August 30, 2010, Scotiabank Inverlat, S.A., Institución de
Banca Múltiple, Grupo Financiero Scotiabank Inverlat, the Company and the Pledgors entered into a Stock Pledge Agreement (Contrato de Prenda sobre Acciones) (the “Original Stock Pledge Agreement”), under which the
Pledgors granted a first priority lien in favor of Scotiabank Inverlat, S.A., Institución de Banca Múltiple, Grupo Financiero Scotiabank Inverlat, acting as pledgee, in respect of the Collateral, to secure the due and punctual
performance of the Obligations. A copy of the Original Stock Pledge Agreement (without exhibits) is attached hereto as Exhibit “A”. 
 WHEREAS, on September 30, 2011, KCSM, as borrower, entered into an Amended and Restated Credit Agreement to amend and restate the Original Credit Agreement in its entirety, including but not
limited to, increase the maximum principal amount to US$200,000,000.00 (two hundred million dollars 00/100, currency of the United States of America) (the “First Amended and Restated Credit Agreement”), with various financial
institutions and other persons from time to time parties thereto (including their successors and assigns) as lenders, JPMorgan Chase Bank, N.A., as administrative agent and as collateral agent, JPMorgan Securities, LLC and Merrill Lynch, Pierce,
Fenner & Smith, Incorporated, as joint lead arrangers and joint bookrunners, JPMorgan Securities LLC as Syndication Agent, BBVA Bancomer, S.A., Institución de Banca Múltiple, Grupo Financiero BBVA Bancomer as joint bookrunner
and co-documentation agent and Bank of America N.A. as co-documentation agent. 

 WHEREAS, on September 30, 2011, Scotiabank Inverlat, S.A., Institución de
Banca Múltiple, Grupo Financiero Scotiabank Inverlat, acting as substituted pledgee, the Pledgee, acting as substitute pledgee, the Pledgors, as pledgors and the Company, entered into an Assignment and Amendment Agreement (Contrato
Modificatorio y de Cesión) to the Original Stock Pledge Agreement (the “Assignment and Amendment Agreement” and the Original Stock Pledge Agreement as amended by the Assignment and Amendment Agreement, the “Stock
Pledge Agreement”), under which Scotiabank Inverlat, S.A., Institución de Banca Múltiple, Grupo Financiero Scotiabank Inverlat assigned and transferred all its rights and obligations under the Original Stock Pledge Agreement
to the Pledgee, and the Pledgee accepted such assignment and transfer. A copy of the Assignment and Amendment Agreement (without exhibits) is attached hereto as Exhibit “B”. 

WHEREAS, on November 29, 2012, KCSM, as borrower, various financial institutions and other persons from time to time parties
thereto or that subsequently became parties thereto (including their successors and assigns) as lenders, JPMorgan Chase Bank, N.A., as administrative agent and collateral agent, JPMorgan Securities, LLC and Merrill Lynch, Pierce, Fenner &
Smith, Incorporated, as joint lead arrangers and joint bookrunners, JPMorgan Securities LLC, as syndication agent and BBVA Bancomer, S.A., Institución de Banca Múltiple, Grupo Financiero BBVA Bancomer and Bank of America, N.A., as
co-documentation agents, entered into a Second Amended and Restated Credit Agreement to amend and restate the First Amended and Restated Credit Agreement in its entirety (the “Second Amended and Restated Credit Agreement”, and
Original Credit Agreement as amended and restated by the First Amended and Restated Credit Agreement and the Second Amended and Restated Credit Agreement, the “Credit Agreement”). A copy of the Second Amended and Restated Credit
Agreement (without exhibits) is attached hereto as Exhibit “C”. 
 WHEREAS, the Parties hereto
are entering into this Amendment Agreement to modify several clauses of the Stock Pledge Agreement in order to reflect certain terms of the Second Amended and Restated Credit Agreement. 

REPRESENTATIONS 
  

	 	I.	Each of the Pledgors hereby represents and warrants that: 

 (a) MTC and HHH are limited liability companies with variable capital (sociedades de responsabilidad limitada de capital variable), duly organized and validly existing under the laws of the United
Mexican States (“Mexico”) and are in compliance with their corporate and any other obligations under the laws of the jurisdiction of their organization. 
 (b) It has the corporate power and authority to enter into this Amendment Agreement and has obtained all required corporate authorizations and approvals to perform its obligations in the terms provided
hereunder. 

  
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 (c) Its attorney-in-fact is duly authorized to enter into this Amendment Agreement, which
authority has not been revoked or modified in any manner whatsoever. 
 (d) The execution and performance of this Amendment
Agreement, and the granting of the pledge under the Stock Pledge Agreement do not violate its by-laws or any other documents or any law, regulation, judgment or order applicable to it or any contract, agreement, deed or other instrument to which it
is a party or to which its rights and properties are subject or result in the creation or imposition of any lien, claim or rights of third parties upon or with respect to any such properties, other than the pledge under the Stock Pledge Agreement.

 (e) It is the legal and beneficial owner, free of any lien, encumbrances or ownership limitations (except for the pledge and
security interest created under the Stock Pledge Agreement) of the Collateral. 
 (f) It is willing to enter into this Amendment
Agreement in order to amend several clauses of the Stock Pledge Agreement in order to reflect certain terms of the Second Amended and Restated Credit Agreement. 
 (g) Other than as described herein, the execution of this Amendment Agreement does not affect the first priority security interest in the Collateral granted under the Stock Pledge Agreement to secure the
due and prompt satisfaction of any and all of the Obligations and all the necessary actions to perfect and protect such security interest have been taken. 
 (h) Except as expressly stated herein, no consent of any other person and no authorization, permit, approval or other action by, and no notice to or filing with, any governmental authority or regulatory
body is required (i) for the Pledgors to execute this Amendment Agreement and to maintain the pledge by the Pledgors of the Collateral pursuant to the Stock Pledge Agreement or for the execution or performance of this Amendment Agreement by the
Pledgors, (ii) for the perfection or maintenance of the pledge on the Collateral created under the Stock Pledge Agreement (including the first priority nature of such pledge) or (iii) to exercise the remedies in respect of the Collateral
pursuant to the Stock Pledge Agreement. 
 (i) By executing this Amendment Agreement, it expressly recognizes the existence of
the Secured Parties and the legal capacity of the Pledgee to act as Collateral Agent on behalf and for the benefit of Secured Parties in the execution of this Amendment Agreement and under the Stock Pledge Agreement, and the legal capacity and
authority of its respective representatives to execute this Amendment Agreement. 
  

	 	II.	The Pledgee hereby represents and warrants that: 

 (a) It is a national association legally organized and validly existing under the laws of the United States of America, acting on behalf and for the benefit of the Secured Parties, as Collateral Agent
pursuant to the terms of the Credit Agreement. 

  
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 (b) Its representative is duly authorized to enter into this Amendment Agreement, which
authority has not been revoked or modified in any manner whatsoever. 
  

	 	III.	The Company hereby represents and warrants that: 

 (a) It is a corporation with variable capital (sociedad anónima de capital variable), duly organized and validly existing under the laws of Mexico and is in compliance with its corporate and
any other obligations under the laws of the jurisdiction of its organization. 
 (b) It has the corporate power and authority to
enter into this Amendment Agreement and has obtained all required corporate authorizations and approvals to perform its obligations in the terms provided hereunder. 
 (c) Its attorney-in-fact is duly authorized to enter into this Amendment Agreement, which authority has not been revoked or modified in any manner whatsoever. 

(d) The execution and performance of this Amendment Agreement, and the granting of the pledge under the Stock Pledge Agreement do not
violate its by-laws or any other documents or any law, regulation, judgment or order applicable to it or any contract, agreement, deed or other instrument to which it is a party or to which its rights and properties are subject or result in the
creation or imposition of any lien, claim or rights of third parties upon or with respect to any such properties. 
 (e) It is
willing to enter into this Amendment Agreement in order to amend several clauses of the Stock Pledge Agreement in order to reflect certain terms of the Second Amended and Restated Credit Agreement. 

(f) Other than as described herein, the execution of this Amendment Agreement does not affect the first priority security interest in the
Collateral granted under the Stock Pledge Agreement to secure the due and prompt satisfaction of any and all of the Obligations and all the necessary actions to perfect and protect such security interest have been taken. 

(g) Except as expressly provided herein, no consent of any other person and no authorization, permit, approval or other action by, and no
notice to or filing with, any governmental authority or regulatory body is required (i) for the Pledgors to execute this Amendment Agreement and to maintain the pledge by the Pledgors of the Collateral pursuant to the Stock Pledge Agreement or
for the execution or performance of this Amendment Agreement by the Pledgors, (ii) for the perfection or maintenance of the pledge on the Collateral created under the Stock Pledge Agreement (including the first priority nature of such pledge)
or (iii) to exercise the remedies in respect of the Collateral pursuant to the Stock Pledge Agreement. 
 (h) By executing
this Amendment Agreement, it expressly recognizes the existence of the Secured Parties and the legal capacity of the Pledgee to act as Collateral Agent on behalf and for the benefit of Secured Parties in the execution of this Amendment Agreement and
under the Stock Pledge Agreement, and the legal capacity and authority of its respective representatives to execute this Amendment Agreement. 

  
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 NOW, THEREFORE the Parties have agreed to the following: 

CLAUSES 
 FIRST. Amendments to the Stock Pledge Agreement. 
 Effective
as of the date hereof, the Parties hereby agree to amend certain clauses of the Stock Pledge Agreement, as described below: 

(a) Clause Fifth is hereby amended to read as follows: 
 “Clause Fifth. Term. 
 The pledge created hereunder
shall remain in full force and effect until the Termination Date (as defined in the Credit Agreement) has occurred. The number of the Pledged Shares subject to this Agreement shall not be reduced, notwithstanding the partial payment of the
Obligations. 
 Notwithstanding the foregoing, the pledge created hereunder shall be terminated, released and
discharged, prior to the Termination Date (as defined in the Credit Agreement), pursuant to Section 9.12 of the Credit Agreement.” 
 (b) The first paragraph of Clause Sixth is hereby amended to read as follows: 

Clause Sixth. Covenants of each Pledgor. 
 During the effectiveness of this Agreement, each Pledgor shall: 
  

... 
 (c) Clause Twelfth is hereby amended to read as follows: 
 Clause Twelfth.
Release of Pledge. 
 (i) Promptly after the occurrence of the Termination Date, or (ii) as soon as
reasonably practicable after the receipt by the Pledgee of a written notice from the Borrower stating that an Investment Grade Period (as defined in the Credit Agreement) has commenced and provided that no Event of Default (as defined in the Credit
Agreement) shall have occurred and be continuing, the Pledgee agrees to execute any documents that are necessary in order to release the pledge created hereunder, at the cost and expense of the Pledgors. The Pledgee shall not be required to make any
representations or warranties in any such release documents. 

  
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 SECOND. Registration of this Amendment Agreement. 

(a) The Pledgors hereby agree to 
 (i) formalize this agreement before a Notary Public in Mexico on the date hereof; 

(ii) file this Amendment Agreement for registration with (i) the Public Registry of Property and Commerce of the Pledgors domicile
and (ii) the Registry of Guaranties on Movable Assets, within fifteen (15) calendar days following the date hereof (with such extensions as the Pledgee may grant in its sole discretion); and 

(iii) obtain and deliver to the Pledgee written confirmation, in terms satisfactory to the Pledgee, of the registration of this Amendment
Agreement with (i) the Registry of Guaranties on Movable Assets, within twenty (20) Business Days from the date of its filing before such registry (with such extensions as the Pledgee may grant in its discretion), and (ii) the Public
Registry of Property and Commerce, within one hundred and twenty (120) calendar days from the date of its filing before such registry (with such extensions as the Pledgee may grant in its sole discretion). 

THIRD. Ratification of the Terms of the Stock Pledge Agreement. 

The Parties agree and confirm that the only amendments to the Stock Pledge Agreement are those set forth in this Amendment Agreement. The
Pledgors and the Pledgee hereby confirm and ratify all of the terms and conditions of the Stock Pledge Agreement which are, and continue to be, in full force and effect. 
 FOURTH. No Novation. 
 The execution of this Amendment Agreement
shall not constitute (i) a novation (novación) of the obligations of the Pledgors and the Pledgee under the Stock Pledge Agreement or (ii) a novation (novación), modification or payment of the Obligations.

 FIFTH. Notices. 
 (a) All notices and other communications related to this Amendment Agreement, shall be in writing, in the English and Spanish languages, and shall be delivered or sent to the domiciles or facsimile
numbers set forth below, or in any other domicile or facsimile number designated by each party or its representatives by written notice to the other party. Such notices and communications shall be delivered or sent (i) by hand, (ii) by
courier, or (iii) by facsimile. The parties for such effects designate the following domiciles: 

  
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 The Pledgors and the Company: 
 Montes Urales No. 625 
 Col. Lomas de Chapultepec 

11000, México D.F. 
 Facsimile:
(5255) 9178 5600 ext. 22179 
 Telephone: (5255) 9178 5647 
 Attention: Legal Department (Departamento Jurídico) 
 The Pledgee:

 JPMorgan Chase Bank, N.A. 

Loan and Agency Services Group 
 1111
Fannin, Floor 10 
 Houston, Texas 77002 

Telephone: (713) 750 1882 / (713) 427 6530 
 Facsimile: (713) 750 2938 
 Attention: Colton Rainey/Jide Williams 

cc: JPMorgan Chase Bank, N.A. 
 383 Madison
Avenue 
 New York, New York 10179 

Facsimile: (212) 270-5100 
 Attention:
Matthew Massie 
 (b) Any Party may change its domicile to receive notices pursuant to this Amendment Agreement by giving
written notice not less than five (5) Business Days prior to the date on which such change shall become effective in accordance with the provisions of this Clause. 
 (c) Any notice, if mailed and properly addressed with postage prepaid or if properly addressed and sent by pre-paid courier service, shall be deemed given when received; any notice, if transmitted by
facsimile, shall be deemed given when the confirmation of transmission thereof is received by the transmitter; provided that, as long as it is authorized by applicable law, the impossibility of delivering notices due to changes in the
addresses that have not been notified to the other Party hereto, or the refusal of any party to accept any notice, shall be considered received on the date of such delivery to the prior address or refusal to accept a notice. 

SIXTH. Governing Law and Jurisdiction. 
 This Amendment Agreement shall be governed by and construed in accordance with the federal laws of Mexico. For the interpretation, construction, performance and enforcement of this Amendment Agreement,
the Parties irrevocably submit to the jurisdiction of the federal courts located in the Federal District, and waive any right to any jurisdiction to which they may be entitled by reason of their respective present or future domicile. 

[signature pages follow] 

  
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 IN WITNESS WHEREOF, the Parties execute this Amendment Agreement as of the date first
above written. 
  

	
	
	PLEDGOR
	
	MTC PUERTA MÉXICO, S. DE R.L. DE C.V.
	
	/s/ Edgar Aguileta Gutiérrez
	 BY: Edgar Aguileta Gutiérrez

TITLE: Attorney-in-Fact

	
	PLEDGOR
	
	HIGHSTAR HARBOR HOLDINGS MÉXICO, S. DE R.L. DE C.V
	
	/s/ Edgar Aguileta Gutiérrez
	 BY: Edgar Aguileta Gutiérrez

TITLE: Attorney-in-Fact

	
	COMPANY
	
	VAMOS A MÉXICO, S.A. DE C.V.
	
	/s/ Edgar Aguileta Gutiérrez
	 BY: Edgar Aguileta Gutiérrez

TITLE: Attorney-in-Fact

  
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	THE PLEDGEE
	
	 JPMORGAN CHASE BANK, N.A.,
 as Collateral Agent, acting on its own behalf and
 on behalf and for the benefit of
the Secured Parties

	
	/s/ Argel Becerra Adame
	 BY: Argel Becerra Adame
 TITLE: Attorney-in-Fact

  
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 Exhibit “A” 

Original Stock Pledge Agreement (without exhibits) 

  
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 Exhibit “B” 

Assignment and Amendment Agreement 

  
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 Exhibit “C” 

Second Amended and Restated Credit Agreement (without exhibits) 

  
 12EX-10.1

 Exhibit 10.1 
 FORBEARANCE AGREEMENT 
 This FORBEARANCE AGREEMENT dated as of
January 10, 2013 (this “Agreement”) among Sierra Resource Group, Inc., a Nevada corporation (the “Company”) and Grand View Ventures LLC, a California limited liability company, (“Holder”) under
that certain May Note (as defined below). For purposes of this Agreement, the Company and Holder are sometimes referred to each as a “Party” and together, the “Parties.” 

RECITALS 

A. On February 16, 2012, the Company issued to Holder a certain promissory note in the principal amount of $190,000 (the
“February Note”) and executed a security agreement (the “Security Agreement”) securing the Company’s obligation under the February Note. 
 B. On May 3, 2012, the Company issued to Holder a certain promissory note in the principal amount of $133,000 (the “May Note”) and amended the Security Agreement to additionally
secure the Company’s obligation under the May Note. 
 C. The Company has failed to pay principal and interest on the May
Note at the Maturity Date for the May Note on November 1, 2012. In addition, Holder contends that Company is in default as a result of certain other events as specified in Section 2 below. 

D. On December 27, 2012, following extensive correspondence with the Securities and Exchange Commission, the Company filed its
Definitive Information Statement regarding an amendment to its articles of incorporation to increase its authorized shares of capital stock from 460,000,000, to 990,000,000 of which 970,000,000 shall be designated Class A Common Stock, par
value $0.001, 10,000,000 shall continue to be designated Class B Common Stock, par value $0.001, and 10,000,000 shall continue to be designated Preferred Stock, par value $0.001 per share of which 1,000,000 shares have been designated and issued as
Series A Preferred Stock. 
 E. The Company has requested that Holder forbear, as herein provided, from exercising its rights
and remedies under the May Note and Security Agreement as result of any Specified Events (as such term is defined in Section 2), so that the various agreements among the parties may be revised and amended as set forth herein. 

NOW, THEREFORE, in consideration of the premises and the agreements hereinafter contained, the Parties hereto agree as follows:

 1. Ratification and Reaffirmation of Obligations and Liens. The Company hereby ratifies and reaffirms the validity and
enforceability of all of the obligations under the February Note, the May Note, and the Security Agreement and agrees that its obligations under such agreements are its legal, valid and binding obligations enforceable against it in accordance with
the respective terms hereof and thereof and that it has not asserted a defense (whether legal or equitable), set-off or counterclaim to the payment or performance of such obligations in accordance with the terms of such agreements.

 2. Acknowledgment. The Company acknowledges that as of the date of this Agreement, the following events (the
“Specified Events”) have occurred: 
  

	

  
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 a. The Company has not made partial payments on the May Note upon the
receipt to the Company of cash receipts as specified by Section 1(c) of the May Note. Specifically, the Company did not pay to Grand View 10% of the gross proceeds from the following borrowings as referenced in the Company’s most recent
Form 10-Q: 
 i. The Company entered into a Convertible Promissory Note with Asher Enterprises Inc. on
July 17, 2012 in the amount of $53,000. The note has an interest rate of 8% with a maturity date of April 19, 2013. 
 ii. The Company entered into a Promissory Note with FOGO, Inc. on July 31, 2012 in the amount of $200,000. The note has an interest rate of 12% with a maturity date of January 31, 2013.

 iii. The Company entered into a Convertible Promissory Note with Asher Enterprises, Inc. on October 5,
2012 in the amount of $32,500. The note has an interest rate of 8% with a maturity date of July 10, 2013. 

b. The Company has not filed a deed of trust securing the mining claim in the county of Arizona where the mining claims of
the Company exist. 
 c. The Company has allowed certain property to be sold for scrap metal for consideration of
$3,710. 
 d. The Company has not retired the Tangiers promissory note dated October 14, 2011 by July 14,
2012. According to page 13 of the Company’s most recent Form 10-Q, as of September 30, 2012, $15,900 was still outstanding. 
 e. The Company has not amended its articles of incorporation to increase the authorized Class A Common Shares (the “Common Shares”) to one billion shares. 

f. The Company has not paid principal and interest on the May Note before, at or after the Maturity Date for the May Note
on November 1, 2012. 
 3. Forbearance. Subject to all of the other terms and conditions set forth herein, and
(a) solely with respect to any defaults or breaches arising out of the Specified Events, Holder agrees to forbear from exercising its rights and remedies under the May Note and Security Agreement (it being understood that nothing herein shall
constitute a waiver of any Event of Default pursuant to the May Note or the Security Agreement) solely during the period from the date hereof until that date (the “Forbearance Termination Date”) which is the earliest to occur of
(i) the failure after the date hereof of the Company to comply with any of the terms or undertakings of this Agreement, including, without limitation, the covenants set forth in Section 4 hereof, (ii) a breach of any warranty or
representation of the Company in this Agreement, or (iii) the occurrence of a different Event of Default (other than a default arising out of the Specified Events) under either the February Note or the May Note. Upon the Forbearance Termination
Date, the agreement of Holder to forbear from exercising its rights and remedies in respect of the Specified Events shall automatically terminate for all purposes under the May Note and Security Agreement for all periods, including periods after the
Forbearance Termination Date and Holder shall be free to proceed to enforce any or all of its rights and remedies set forth 
  

	

  
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 in the May Note or the Security Agreement including, without limitation, the right to demand the immediate
repayment of the May Note and to take possession of the collateral under the Security Agreement. The Company hereto agrees that, subject to the agreement of Holder to forbear from exercising certain of its rights and remedies as and to the extent
expressly set forth in this Agreement, all rights and remedies of Holder under the May Note and Security Agreement shall continue to be available to Holder from and after the date of this Agreement. 

4. Forbearance Requirements. The Company covenants and agrees that in consideration for entering into this Agreement that it shall
perform (or agree to the terms of, as the case may be,) the following: 
 a. Default
Interest. From and after November 1, 2012, the May Note shall bear interest at the default rate of 18% per annum and shall compound quarterly until the Amendment to the May Note has been executed by the Company, as specified in
Section 5(f) herein. 
 b. Payment of Attorney Fees. The Company shall pay the attorney fees
of Holder in the amount of $17,500, such fees shall be added to the principal of the May Note and bear interest at the rate specified in Section 4.a. above. 

c. Amendment to Security Agreement. Simultaneously upon the execution of this Agreement, the Company shall
deliver to Holder an executed amendment to the Security Agreement that shall state specifically that the February Note and the May Note shall be secured by a deed of trust on the Company’s 80% interest in the Chloride Copper Mine. A copy of
such amendment is attached as Exhibit A. 
 d. Execution of Deed of Trust. Simultaneously
upon the execution of this Agreement, the Company shall deliver to Holder a fully executed and acknowledged deed of trust securing the real property underlying the mining claims of the Company. A copy of the deed of trust is attached as Exhibit
B. 
 e. Execution of Section 13 Amendments. Simultaneously upon the execution of this
Agreement, the Company shall deliver to Holder an executed amendment to the May Note and the February Note substantially in form as attached as Exhibit C. 

f. Delivery of the May Shares. Pursuant to its Definitive Information Statement filed on December 27,
2012, and pursuant to Rule 14c-2 under the Securities Exchange Act of 1934, the Company will submit the amendment to its articles of incorporation providing for the increase of the authorized Common Shares to the Nevada Secretary of State for filing
on January 16, 2012, along with the statutory fees for 24-hour expedited filing. Within five business days of the filing date of the Company’s amendment to its articles of incorporation, the Company shall direct its Transfer Agent to
deliver to Holder, Shadow Capital LLC, and Oak Street Trust the following Common Shares representing Common Shares owed to the proceeding entities from the securities purchase agreements between the Company and such entities dated May 3, 2012.

  

  
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	 Entity
	  	Common Shares	 
	 Holder
	  	 	6,666,666	  
	 Shadow Capital LLC
	  	 	3,333,334	  
	 Oak Street Trust
	  	 	3,333,334	  

 g. Anti-Dilution Shares. Within five business days of the filing date of the Company’s
amendment to its articles of incorporation providing for the increase of the authorized Common Shares, the Company shall direct its Transfer Agent to deliver to Holder, Shadow Capital LLC, and Oak Street Trust the following Common Shares that
represent anti-dilution Common Shares owed to the preceding entities as of November 20, 2012. 
  

					
	 Entity
	  	Common
Shares	 
	 Holder — February Note
	  	 	5,045,000	  
	 Holder — May Note
	  	 	1,002,000	  
	 Shadow Capital LLC
	  	 	668,000	  
	 Oak Street Trust
	  	 	668,000	  

 Notwithstanding the previous requirements of this Section 4.g., the Company shall hold back from the issuance of
such Common Shares to Holder an amount such that the total amount of Common Shares owned by Holder shall not exceed 4.99% percent of the outstanding Common Shares of the Company. The Company shall promptly issue such remaining Common Shares upon
notice to the Company that such issuance will not cause Holder to have ownership of the outstanding Common Shares in excess of 4.99% or upon sixty one (61) days’ notice of waiver by Holder to the Company, in accordance with the terms of
the amended Notes and Warrants. 
 h. Anti-Dilution Warrants. The Company has previously delivered to Holder warrants to
purchase 6,900,000 Common Shares dated February 16, 2012 (the “February Warrant”). In addition, the Company has previously delivered to Holder, Shadow Capital LLC, and Oak Street Trust warrants to purchase Common Shares in the
amounts of 6,666,666, 3,333,334, and 3,333,334 shares, respectively (the “May Warrants”). Simultaneously with execution of this Agreement, the Company shall deliver to Holder, Shadow Capital LLC, and Oak Street Trust additional warrants to
purchase the Common Shares in the following amounts and exercise prices representing anti-dilution warrants as specified in Section 3.d. of the February Warrant and Sections 3.d. of the May Warrants as of November 20, 2012. A copy of the
anti-dilution warrants are attached as Exhibit D. 
  

	

  
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	 	  	Warrants	 	  	Exercise
Price	 
	 Holder — February Note
	  	 	3,944,633	  	  	$	0.006	  
	 Holder — May Note
	  	 	903,991	  	  	$	0.003	  
	 Shadow Capital LLC
	  	 	451,996	  	  	$	0.003	  
	 Oak Street Trust
	  	 	451,996	  	  	$	0.003	  

 i. Reset of the May Warrants. According to Section 3.e of the May Warrants,
the exercise price of such warrants is reset to $0.003 per share. Simultaneously with the execution of this Agreement, the Company shall execute and deliver to the Holder, Shadow Capital LLC, and Oak Street Trust amendments to the May Warrants
reflecting such reset of exercise price of the May Warrants. A copy of the aforementioned amendments are attached as Exhibit E. 
 j. Additional Warrants. Simultaneously with execution of this Agreement, the Company shall deliver to Holder, warrants to purchase 6,750,000 shares of the Common Stock with an exercise price of
$0.008 per share. Such warrants shall provide for anti-dilution protection. In addition, the warrants shall provide that the Company shall have the opportunity to repurchase a certain percentage of such warrants at a purchase price of $0.001 per
share if the February Note and the May Note are paid prior to July 15, 2013. A copy of such warrant is attached as Exhibit F. 
 k. Acknowledgment of the Company. The Company acknowledges that most of the commitments that the Company is making under this Section 4 would be required of the Company notwithstanding this
Agreement based on the May Note and Security Agreement. 
 1. Authority of Officer. The Company represents
and warrants that the undersigned officer of the Company has the required authority to execute this Agreement and that this Agreement has been presented to the board of directors of the Company and such board has approved its contents. 

5. Covenants of Holder. Holder covenants and agrees to the following terms to execute amendments to the February Note, the
May Note, and other transaction documents between the Parties according to the following: 
 a. Waiver.
Holder hereby waives all defaults and breaches of the Company arising out of the Specified Events for all dates prior to the date of this Forbearance Agreement; provided however, that such waiver shall not be effective until, and only on the
condition that, the Company fulfills all of the requirements of Paragraph 4 prior to the termination of this Agreement. 
 b. Extension of the May Note and February Note. Sections 1.a.i of both the February Note and the May Note shall be amended as set forth in Exhibit C to state that the Maturity Date is
July 15, 2013 or the BLM Extension Date (as defined below), whichever is later. To the extent that the date the Bureau of Land Management (the 
  

	

  
 5 

 “BLM”) issues its Finding of No Significant Impact
certificate (the “FONSI Date”) for the Company (currently scheduled for April 15, 2013) is extended “as a result of the filing of the Deed of Trust” (referenced in Section 4.d. above), the “BLM
Extension Date” shall be the earlier of (i) three months after such new FONSI Date or (ii) October 15, 2013. To claim that the FONSI Date was extended “as a result of the filing of the Deed of Trust”, the Company
must deliver to Holder written evidence of such contention. 
 c. Event of Default — Failure to Make
Required Payments. In connection with, and as condition precedent to the extension of the Maturity Dates of the February Note and the May Note detailed in Section 5.b. above, Sections 4 of both the February Note and the May Note shall be
amended as set forth in Exhibit C to state that an additional Event of Default shall be “the failure to pay interest or principal when due on any outstanding obligation of the Company (if such outstanding obligation is greater than
$10,000) when due including but not limited to the FOGO, Inc. note or any Asher Enterprises, Inc. note, unless such failure is waived in writing by the holder of such obligation. Holder shall be able to rely on the terms of such obligations as
provided to Holder previously or any of the Company’s SEC filings to determine when the Company is obligated to make such interest and principal payments and may presume such payments were not made or such obligations were not modified unless
and until delivery of reasonable written evidence to Holder to the contrary.” 
 d. Event of Default
— Failure to Pay Claim Maintenance Fees. In connection with, and as condition precedent to the extension of the Maturity Dates of the February Note and the May Note detailed in Section 5.b. above, Sections 4 of both the February Note
and the May Note shall be amended as set forth in Exhibit C to state that an additional Event of Default shall be “failure of the Company to pay all 2013 Claim Maintenance Fees associated with the 51 Chloride Copper Mine claims with the
BLM and to provide written documentation of such payment to Holder prior to July 1, 2013.” 
 e.
Deletion of Event of Default. Section 4(h) of the May Note requiring the retirement of the Tangiers promissory note dated October 14, 2011 shall be deleted in its entirety, as set forth in Exhibit C. 

f. Interest Rate on the May Note. From and after execution of the above referenced Amendments, the interest rate on
the May Note shall be 15% per annum and such interest shall no longer compound until its new Maturity Date, as set forth in Exhibit C. 
 g. Revision of February SPA. Section 8 of the Securities Purchase Agreement between the Parties dated February 16, 2012 shall be revised and amended as set forth in Exhibit G and
as follows: (i) “370 million shares” shall be changed to “353 million shares” and (ii) “in the amount of 3,000 shares for each 100,000 shares” shall be changed to “in the amount of 2,500 shares for each
100,000 shares.” 
 h. Revision of May SPA. Section 8 of the Securities Purchase Agreement
between the Parties dated May 3, 2012 shall be revised and amended as set forth in 
  

	

  
 6 

 Exhibit G and as follows: “in the amount of 2,000 shares for each 100,000 shares”
shall be changed to “in the amount of 1,500 shares for each 100,000 shares.” 
 i. Revision of
February Warrant. Section 3(d) of the February Warrant shall be revised and amended as set forth in Exhibit H and as follows: (i) “370 million shares” shall be changed to “353 million shares,” and
(ii) the anti-dilution calculation example at the end of such section shall be revised to reflect the revised Threshold Amount of 353,000,000. 
 6. Execution of Documents. Simultaneously upon the execution of this Agreement, the Parties shall execute and deliver to each other the documents called for in this Agreement and set forth in the
Exhibits hereto. 
 7. Successors and Assigns. Except as otherwise expressly provided herein, the provisions
hereof shall inure to the benefit of, and be binding upon, the successors, assigns, heirs, executors and administrators of the parties hereto. 
 8. No Third Party Rights. Nothing in this Agreement, express or implied, is intended to confer upon any party, other than the parties hereto and their successors and assigns, any rights, remedies,
obligations or liabilities under or by reason of this Agreement, except as expressly provided herein. 
 9. Waiver and
Amendment. Any provision of this Note may be amended, waived or modified only upon the written consent of the Parties. 
 10. Waiver of Notice. The Company expressly waives any form of Notice regarding the default on and termination of this Agreement pursuant Section 3 above. No delay or omission on the part of
Holder in exercising any right hereunder shall operate as a waiver of such right or of any other right under this Agreement. The obligations of the Company under this Agreement shall not be subject to reduction, limitation, impairment, termination,
defense, set-off, counterclaim or recoupment for any reason. 
 11. Notices. All notices and other communications
hereunder shall be in writing and be deemed given when (i) delivered by hand, (ii) when deposited with a reputable next business day delivery service providing receipt of delivery (such as FedEx) for delivery the following day,
(iii) when sent by registered or certified mail, at the earlier of its receipt or three business days after registration or certification thereof, or (iv) when sent by facsimile or email transmission (with confirmation of receipt by email
from the recipient). Notices, demands, and communications to the Parties shall, unless another address is specified in writing, be sent to the address or telecopy number indicated below: 

 

	 	Holder:	Grand View Ventures, LLC 

	 	    	        912 Cole St. #204 

	 	    	San Francisco, CA 94117 

	 	    	Attn: Matt Garlinghouse 

  

	 	    	with a copy to: 

  

  
 7 

			
		  	 Greystone Law Group LLP
 1600
Rosecrans Avenue
 Media Center, Suite 400
 Manhattan Beach, CA 90266
 Attention: Jeffrey Mailer

Telephone: 213-867-2077
 Facsimile:
213-867-2144
 Email: jmatler@greystonelawgroup.com

		
	the Company:	  	 Timothy Benjamin, Chairman

Sierra Resource Group, Inc.
 9550 S. Eastern
Avenue, Suite 253
 Las Vegas, Nevada 89123
 Email: tbenjamin@sierragroupinc.com

		
		  	 with a copy to:
  

Christopher L. Cella
 Cella Lange &
Cella LLP
 1600 S. Main St., Suite 180

Walnut Creek, CA 94596
 Telephone:
(925) 974-1110
 Facsimile: (925) 974-1122 
 cicella@cellalange.net

 12. Governing Law, Jurisdiction The parties hereby acknowledge, consent and agree (i) that
the provisions of this Agreement and the rights of all parties mentioned herein shall be governed by the laws of the State of Nevada and interpreted and construed in accordance with such laws and (ii) that either party may, but is not obligated
to, institute a proceeding to enforce this Agreement in San Francisco County, California, and any objections to such jurisdiction or venue are hereby waived. 
 13. Heading; References. All headings used herein are used for convenience only and shall not be used to construe or interpret this Note. Except as otherwise indicated, all references herein to
Sections refer to Sections hereof. 
 14. Securities Laws. Holder acknowledges that the securities issued pursuant
to Section 4 above will not, at the time of their issuance, been registered under the Securities Act of 1933, as amended, or registered or qualified under any state securities laws and are being issued based on a exemption to such registration
requirements. As such, the issued securities may not be sold, transferred, pledged or hypothecated in the absence of registration under the securities act and registration or qualification under applicable state securities laws unless an exception
to such registration requirement exists. 
 15. Attorney’s and Collection Fees. In the event of any dispute
arising hereunder, the prevailing party shall be entitled to recover its reasonable costs, inclusive of attorney’s fees. 
  

	

  
 8 

 16. Defined Terms. The defined terms in the Recitals are incorporated into this
Agreement by reference. All other capitalized terms used herein without definition shall have the same meanings herein as such terms have in the May Note. 
 17. Counterparts. This Agreement may be executed in counterparts, each of which shall be an original, and all of which, taken together, shall constitute a single instrument. Delivery of an executed
counterpart of a signature page to this Agreement by telecopier or by pdf shall be effective as delivery of a manually executed counterpart of this Agreement. 
 (Signature page immediately follows) 
  

  
 9 

 IN WITNESS WHEREOF, the undersigned have executed this Forbearance Agreement
as of the date first above written. 
  

			
	 “COMPANY”
  

SIERRA RESOURCE GROUP, INC.,
 a Nevada
corporation

		
	By:	 	/s/
		 	 Name: Timothy Benjamin

Title: Chairman of the Board of Directors

  
  

 

			
	 “HOLDER”
  

GRAND VIEW VENTURES, LLC,
 a California limited
liability company

		
	By:	 	/s/
		 	 Name: Matt Garlinghouse

Title: Manager

  
  
 Signature Page of Forbearance Agreement 

  
 10

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