Document:

Exhibit 10.11

 

CONSULTING
SERVICES AGREEMENT

 

THIS AGREEMENT dated Feb 25th, 2021
is between:

 

Snow Lake Resources Ltd., a company
incorporated under the laws of Manitoba and having its head office at 242 Hargrave St #1700, Winnipeg, MB R3C 0V1 Canada

 

(the “Corporation”)

 

AND

 

Finterra Consulting Inc, a Company
incorporated under the laws of Canada and having its head office at Oakville, Ontario

 

(the “Consultant”)

 

BACKGROUND

 

The Corporation wishes to have the Consultant
perform the Services and the Consultant wishes to perform the Services for the Corporation upon the terms and conditions of this
Agreement. This Agreement is valid for 3 months and needs renewal in writing by both parties hereto before the 1st of
every quarter, starting June 1, 2021.

 

AGREEMENT

 

For good and valuable consideration, the
receipt and sufficiency of which each party acknowledges, the parties agree as follows:

 

PART
1

INTERPRETATION

 

		1.1	Definition.

 

		(a)	“Agreement” means collectively this Agreement and the following schedules:

 

		(i)	Schedule A - Scope of Services

 

		(ii)	Schedule B - Remuneration and Payment

 

PART
2

SERVICES

 

		2.1	Services. The Consultant will provide to the Corporation all of the services set out in
Schedule A (the “Services”). The Consultant agrees to perform the Services in accordance with this Agreement
and in accordance with any additional instructions which may be given by Derek Knight or Philip Gross from time to time.

 

		2.2	Timing. The Consultant agrees to diligently perform the Services in accordance with any
specific time requirements set out in the Schedules or, in the absence of any specific time requirements, in accordance with the
Corporation’s reasonable requirements communicated to the Consultant from time to time by Derek Knight or Philip Gross. Unless
otherwise specified in the Schedules, all Services will be performed during the normal business hours of the Corporation.

 

     

     

    

 

		2.3	Standards. The Consultant will perform the Services in accordance with the standards of
care, skill and diligence of an experienced professional in the Consultant’s field and in a competent and efficient manner.

 

		2.4	Revisions. The Corporation will be entitled, upon giving written notice to the Consultant,
to request changes in, additions to or deletions from the Services without invalidating this Agreement, provided that the nature
and scope of Services remain generally consistent with the nature and scope of services identified on Schedule A. The Corporation
and the Consultant will agree on any necessary change to any time or payment requirements set out in the Schedules and will execute
an amendment evidencing those changes. This Agreement may not be amended in any manner unless the amendment is in writing and signed
by both the Corporation and the Consultant.

 

PART
3

REMUNERATION AND PAYMENT

 

		3.1	Price. In consideration for the performance of the Services in accordance with this Agreement,
the Corporation will pay the Consultant the remuneration set out in Schedule B, in accordance with the terms of Schedule B.

 

		3.2	Expenses. The Corporation will not reimburse the Consultant for any cost or expenses incurred
by the Consultant in the performance of the Services unless specifically permitted in Schedule B.

 

PART
4

CONFIDENTIALITY

 

		4.1	Confidential Information. For the purpose of this Agreement, “Confidential Information”
means all technical, corporate, financial, economic, legal or other information or knowledge generally concerning the Corporation
or any of its affiliates, subsidiaries or other parties in which it has an ownership interest, or specifically concerning the Services,
whether disclosed orally, or in the form of written material, computer data or programs, and includes information respecting models,
mechanisms, processes, photographs, intellectual property, know-how, trade secrets or otherwise, however obtained, and whether
obtained before or after the execution of this Agreement, but does not include information that:

 

		(a)	is disclosed lawfully to the Consultant by a third party who has no obligation of confidentiality
to the Corporation with respect to the disclosed information:

 

		(b)	is or becomes generally known to the public, other than by a breach by the Consultant of its obligations
under this Agreement; or

 

		(c)	is already known by the Consultant before disclosure by the Corporation under this Agreement, as
evidenced by the written records of the Consultant, and which is not the subject of a previous confidentiality agreement between
the parties.

 

		4.2	Confidentiality. The Consultant will maintain the Confidential Information in strict confidence
and will not disclose that information to any other party, except with the prior written consent of the Corporation, and, if requested
by the Corporation, the Consultant will cause such party to execute and deliver to the Corporation a written confidentiality agreement
in favour of the Corporation upon the terms and conditions substantially as set out in this section and as approved in writing
by the Corporation.

 

		4.3	Return of Confidential Information. Upon termination of this Agreement or otherwise upon
the request of the Corporation, the Consultant will deliver to the Corporation all copies, whether written, in the form of computer
data or otherwise, of all Confidential Information in the possession of the Consultant or other parties to whom the Consultant
has provided Confidential Information. Neither the Consultant nor any parties to whom the Consultant has provided Confidential
Information will retain copies of any Confidential Information.

 

    - 2 -

     

    

 

PART
5

INTELLECTUAL PROPERTY

 

		5.1	Ownership of Work Product. The product of the Services provided by the Consultant under
this Agreement (“Work Product”) will be the sole and exclusive property of the Corporation. Without limiting
the generality of the foregoing, the Corporation will be the sole owner of all rights in and to the Work Product including patents,
trade secret rights, copyright and other proprietary rights, whether or not those rights are now existing or come into existence
hereafter and whether those rights are now known, recognized or contemplated. The Consultant will not, upon completion of the Services,
retain copies of any kind of the Work Product. The Consultant will keep the Work Product strictly confidential and will not be
entitled to sell, or otherwise transfer, the Work Product to any third party or make any use whatsoever of the Work Product.

 

		5.2	No Infringement. The Services will be developed by the Consultant specifically for the Corporation.
Neither the Services nor the Work Product will infringe upon any patent, copyright, licence, trade secret or other proprietary
right of any third party. The Consultant will indemnify and hold the Corporation free and harmless from any cost (including legal
fees on a solicitor and own client basis), expense, loss, obligation or damage suffered or incurred by the Corporation as a result
of any suit, proceeding or otherwise to the extent that they are based upon a claim that any portion of the Services or Work Product
infringes any patent, copyright, licence, trade secret or other right.

 

		5.3	Further Assurances. The Consultant will execute all documentation and take all further actions
as the Corporation may request to implement and carry out the intent of this Agreement and, in particular, to ensure that the sole
and exclusive ownership of the Work Product resides with the Corporation and to allow the Corporation to obtain and maintain protection
of intellectual property rights in the Work Product.

 

PART
6

TERMINATION

 

		6.1	Termination for Default. Failure of the Consultant to perform any of its obligations under
this Agreement will entitle the Corporation, without limiting any other rights or remedies the Corporation may have, to immediately
terminate without penalty all or a part of this Agreement.

 

		6.2	Termination Other than for Default. In the absence of and without reliance by the Corporation
on any default by the Consultant, the Corporation may terminate for any reason any portion of the Services to be performed under
this Agreement or may terminate this Agreement in its entirety, at any time upon one (1) month prior written notice to the Consultant.

 

		6.3	Either Party may terminate this Contract at any time by giving to the other party a written
notice of 30 days.

 

		6.4	Payment upon Termination. Upon termination of this Agreement, the Corporation will pay all
amounts due and owing to the Consultant for Services performed to the date of termination pursuant to the requirements in Schedule
B. Despite the foregoing, the Corporation will be entitled to deduct from amounts due and owing to the Consultant the amounts any
advances the Corporation might have previously granted to the Consultant.

 

    - 3 -

     

    

 

		6.5	Delivery Upon Termination. In addition to the requirement to return Confidential Information
under section 4.3 of this Agreement and the requirement to deliver all Work Product and other deliverables called for by any of
the Schedules, the Consultant will, upon termination of this Agreement for any reason or upon completion of the Services, return
to the Corporation all data and materials supplied by the Corporation to the Consultant and, if software forms any part of the
Work Product, will provide to the Corporation all source code for that software. If this Agreement is terminated for any reason
prior to completion of the Services, the Consultant will provide to the Corporation all Work Product (and in the case of software
all source code) completed to the date of termination and all work in progress, documentation, notes and other materials relating
to the Services.

 

		6.6	Survival of Obligations. The provisions of Part 4 and Part 5 will survive any termination
of this Agreement.

 

PART
7

MISCELLANEOUS

 

		7.1	Subcontractors. The Consultant may not subcontract any part of the Services unless the Consultant
obtains the Corporation’s prior written consent to the proposed subconsultant and to the Services to be subcontracted.

 

		7.2	Reporting. The Consultant is to keep the CEO, COO and the Board of SLR, or a party that
has been given the authority to act on behalf of the CEO, COO and the Board of SLR fully informed at all times of all material
activities, as well as take direction from the same.

 

		7.3	Independent Contractor. The Consultant is an “independent contractor” and is
not an agent, servant or employee of the Corporation and, as such, save as required by law, there shall be no deductions for any
statutory withholdings such as income tax, Canada Pension Plan, unemployment insurance or worker’s compensation.

 

		7.4	Right to Require Strict Performance. A party’s right to require strict performance
of the obligations of the other party under this Agreement will not be extinguished or impaired by the waiver of any default under
this Agreement unless the waiver is in writing and is signed by a duly authorized representative of the waiving party, and that
waiver will not affect the rights of the waiving party in respect of any other or future default.

 

		7.5	Notices. In this Agreement:

 

		(a)	any notice or communication required or permitted to be given under the Agreement will be in writing
and will be considered to have been given if delivered by hand, transmitted by electronic mail or mailed by prepaid registered
post in Canada, to the address of each Party set out below:

 

		(i)	if to the Corporation:

 

Attention:

Email:

 

		(ii)	if to the Consultant:

 

	Attention :	Mario A. Miranda
	Email:	mmiranda@finterra.ca

 

or to such other address as a party
may designate in the manner set out above;

 

    - 4 -

     

    

 

		(b)	notice or communication will be considered to have been received:

 

		(i)	if delivered by hand during business hours on a business day, upon receipt by a responsible representative
of the receiver, and if not delivered during business hours, upon the commencement of business on the next business day;

 

		(ii)	if sent by electronic mail during business hours on a business day, on the day of transmission,
and if not transmitted during business hours, on the next business day; and

 

		(iii)	if mailed by prepaid registered post in Canada, upon the fifth business day following posting;
except that, in the case of a disruption or an impending or threatened disruption in postal services every notice or communication
will be delivered by hand or sent by electronic mail.

 

		(c)	For the purposes of this Agreement “business day” means a day or days which are not
a Saturday or defined as a “holiday” under the Interpretation Act (Alberta) as amended or substituted from time
to time.

 

		7.6	Approvals. Any direction given by the Corporation concerning the performance of the Services
or any review or approval by the Corporation of any Services or any Work Product will not relieve the Consultant from its responsibilities,
obligations or liabilities as set out in this Agreement.

 

		7.7	Law. This Agreement will be governed by the laws of the province of Ontario. Each party
attorns irrevocably and unconditionally to the non-exclusive jurisdiction of the courts of the province of Alberta, and to courts
to which appeals therefrom may be taken, in respect of all actions, causes of action, suits and proceedings arising out of or relating
to this Agreement.

 

		7.8	Entire Agreement. This Agreement constitutes the entire agreement between the parties with
respect to the subject matter hereof and supersedes and replaces all previous discussions, negotiations and agreements.

 

		7.9	Rights and Remedies. Any rights and remedies of a party specified in this Agreement are
in addition to, and not in substitution for, or in any manner limiting, the rights and remedies of that party available at law
or in equity.

 

		7.10	Assignment. The Consultant will not assign the whole or any part of this Agreement without
the Corporation’s prior written consent, which consent may be given or withheld in the sole discretion of the Corporation.

 

		7.11	Binding Agreement. This Agreement will bind and benefit the Corporation and the Consultant
and their respective successors and permitted assigns.

 

[Intentionally left blank. Signature
page to follow.]

 

    - 5 -

     

    

 

TO EVIDENCE THEIR AGREEMENT each
of the parties has executed this Agreement on the date appearing below.

 

	
        SNOW LAKE RESOURCES LTD..
	 
	 	 
	By:	 
	 	 
	Philp Gross – CEO,  Snow Lake Resources Ltd..	 
	 	 
	Dated:	 	 
	 	 
	 	 
	Mario Miranda – President Finterra Consulting Inc.	 
	 	 
	Dated:	 	 

 

    - 6 -

     

    

 

Schedule
a

SCOPE OF SERVICES

 

Bookkeeping services

 

Drafting the Company’s period-end
“prepared by management” financial statements for review and approval by the management of the Company

 

Assisting in the preparation of the period-end
“prepared by management” Management Discussion and Analysis for review and approval by the management of the Company

 

Liaison with the auditors at year-end including
the preparation of working papers to facilitate a smooth, clean year-end audit

 

Liaison with the Company’s largest
shareholder every quarter to assist them with the required working documents to allow them to submit their financials. This must
be done in the first 3-4 days of each quarter and first two weeks of each year end

 

Cooperate with the Company’s largest
shareholder in a timely manner for matters related to the financial reporting of the Company on their financials

 

Reply in a timely manner to all inquiries
regarding various accounting, compliance and general business matters

 

Prepare Flow Through filings, as well as
assisting the company with determining eligible expenses and working with the tax advisors to meet the documentation requirements
and timelines for filing

 

Working with tax consultant to ensure tax
returns and filings are handled on time and as required

 

Prepare and file GST / HST filings quarterly

 

Provide advice on structuring or corporate
planning as needed

 

All other services that are customarily
provided by a person or persons in the position of chief financial officer

 

     

     

    

 

Schedule
b

REMUNERATION AND PAYMENT

 

		A.	REMUNERATION

 

		1.	Fees

 

The Corporation will pay the Consultant
for the performance of the Services at the monthly rate of $4,000.00 (Four Thousand) per month, plus applicable HST. No increase
in the monthly rate will be permitted without the prior written consent of the Corporation.

 

		2.	1 Month Validity

 

This agreement is a three month’s
contract with the initial term ending on May 31th, 2021. Thereafter automatically becoming a recurring one month contract
until termination.

 

		B.	PAYMENT

 

		1.	Invoices

 

The Consultant will submit to the
Corporation monthly invoices in respect of fees for the Services and Expenses, in each case in reasonable detail. Each invoice
must be dated the last day of the calendar month and must be submitted not later than the 10th day of the following
month. Invoices will be accompanied by:

 

		(a)	the Expenses incurred in the month. All claims for Expenses will be accompanied by invoices or
other documentation reasonably required by the Corporation; and

 

		(b)	such other information as the Corporation may require.

 

		2.	Date of Payment

 

Invoiced amounts are due and payable
by the Corporation as follows:

 

		●	50% of the invoice on receipt;

 

		●	50% of the invoice within 30 days from the earlier of:

 

		o	The closing of any financing that the company might have subsequent to the date of this contract
or;

 

		o	The termination of this contract or;

 

		o	The expiry date of this contract.

 

At the Company’s discretion,
the accrued amount can be settled with the equivalent value of shares or paid as cash.Exhibit 10.12

 

 

 

 

 

 

 

 

Snow
Lake Resources Ltd.

 

 

 

STOCK
OPTION PLAN

 

 

 

 

 

 

Dated
as of May 1, 2019

 

 

 

 

 

     

     

    

 

TABLE
OF CONTENTS

  

	 	 	Page
	 	 	 
	ARTICLE 1 DEFINITIONS AND INTERPRETATION	1
	 	 	 
	1.1	Defined Terms	1
	1.2	Interpretation	3
	 	 	 
	ARTICLE 2 ESTABLISHMENT OF PLAN	3
	 	 	 
	2.1	Purpose	3
	2.2	Shares Reserved	4
	2.3	Non-Exclusivity	4
	2.4	Effective Date	4
	 	 	 
	ARTICLE 3 ADMINISTRATION OF PLAN	5
	 	 	 
	3.1	Administration	5
	3.2	Amendment, Suspension and Termination	5
	3.3	Compliance with Legislation	5
	 	 	 
	ARTICLE 4 OPTION GRANTS	6
	 	 	 
	4.1	Eligibility and Multiple Grants	6
	4.2	Option Agreement	6
	4.3	Limitation on Grants and Exercises	6
	 	 	 
	ARTICLE 5 OPTION TERMS	7
	 	 	 
	5.1	Exercise Price	7
	5.2	Expiry Date	7
	5.3	Vesting	8
	5.4	Non-Assignability	8
	5.5	Ceasing to be Eligible Person	8
	 	 	 
	ARTICLE 6 EXERCISE PROCEDURE	9
	 	 	 
	6.1	Exercise Procedure	9
	 	 	 
	ARTICLE 7 AMENDMENT OF OPTIONS	10
	 	 	 
	7.1	Consent to Amend	10
	7.2	Amendment Subject to Approval	10
	 	 	 
	ARTICLE 8 MISCELLANEOUS	10
	 	 	 
	8.1	No Rights as Shareholder	10
	8.2	No Right to Employment	10
	8.3	Governing Law	10
	8.4	Approval	10

  

SCHEDULE “A” - FORM OF STOCK OPTION PLAN
OPTION AGREEMENT

SCHEDULE “B” - NOTICE OF EXERCISE

 

     

     

    

 

ARTICLE
1

 DEFINITIONS AND INTERPRETATION

 

	1.1	Defined
Terms

 

For
the purposes of this Plan, the following terms shall have the following meanings:

 

		(a)	“Affiliate”
                                         has the meaning ascribed thereto by the Exchange;

 

		(b)	“Board”
                                         means the board of directors of the Corporation or, as applicable, a committee consisting
                                         of not less than three Directors of the Corporation duly appointed to administer this
                                         Plan;

 

		(c)	“Common
                                         Shares” means the common shares of the Corporation;

 

		(d)	“Company”
                                         unless specifically indicated otherwise, means a corporation, incorporated association
                                         or organization, body corporate, partnership, trust, association or other entity other
                                         than an individual;

 

		(e)	“Consultant”
                                         means, in relation to a Corporation, an individual (other than an Employee or a Director
                                         of the Corporation) or Company that:

 

		(i)	is
                                         engaged to provide on an ongoing bona fide basis, consulting, technical, management or
                                         other services to the Corporation or to an Affiliate of the Corporation, other than services
                                         provided in relation to a distribution;

 

		(ii)	provides
                                         the services under a written contract between the Corporation or the Affiliate and the
                                         individual or the Company, as the case may be;

 

		(iii)	in
                                         the reasonable opinion of the Corporation, spends or will spend a significant amount
                                         of time and attention on the affairs and business of the Corporation or an Affiliate
                                         of the Corporation; and

 

		(iv)	has
                                         a relationship with the Corporation or an Affiliate of the Corporation that enables the
                                         individual to be knowledgeable about the business and affairs of the Corporation,

 

and
includes a Company of which a Consultant is an employee or shareholder and a partnership of which a Consultant is an employee
or partner;

 

		(f)	“Corporation”
                                         means Snow Lake Resources Ltd. and its successor entities;

 

		(g)	“Director”
                                         means a director of the Corporation or of an Affiliate;

 

		(h)	“Disinterested
                                         Shareholder Approval” means the passing of an ordinary resolution by the holders
                                         of Common Shares excluding the Common Shares held by, to the Corporation’s knowledge
                                         at the time the information is provided, the Corporation, a Participant or an Eligible
                                         Person;

 

		(i)	“Eligible
                                         Person” means a Director, Officer, Employee or Consultant, and includes an
                                         issuer all the voting securities of which are owned by Eligible Persons;

 

     

     

    

 

		(j)	“Employee”
                                         means an individual who:

  

		(i)	is
                                         considered an employee of the Corporation or its subsidiary under the Income Tax Act
                                         (Canada) (and for whom income tax, employment insurance and Canada Pension Plan deductions
                                         must be made at source);

 

		(ii)	works
                                         full-time for the Corporation or its subsidiary providing services normally provided
                                         by an employee and who is subject to the same control and direction by the Corporation
                                         over the details and methods of work as an employee of the Corporation, but for whom
                                         income tax deductions are not made at source; or

 

		(iii)	works
                                         for the Corporation or its subsidiary on a continuing and regular basis for a minimum
                                         amount of time per week providing services normally provided by an employee and who is
                                         subject to the same control and direction by the Corporation over the details and methods
                                         of work as an employee of the Corporation, but for whom income tax deductions are not
                                         made at source;

 

		(k)	“Exchange”
                                         means the Canadian Securities Exchange and any successor entity;

 

		(l)	“Expiry
                                         Date” means the last day of the term for an Option, as set by the Board at
                                         the time of grant in accordance with Section 5.2 herein and, if applicable, as amended
                                         from time to time;

 

		(m)	“Insider”
                                         means, in respect of the Corporation: (a) a Director or senior officer of the Corporation,
                                         (b) a Director or senior officer of a Company that is an Insider or subsidiary of the
                                         Corporation; (c) a Person that beneficially owns or controls, directly or indirectly,
                                         Common Shares carrying more than 10% of the voting rights attached to all outstanding
                                         Common Shares of the Corporation, or (d) the Corporation itself, if it holds any of its
                                         own securities;

 

		(n)	“Investor
                                         Relations Activities” means any activities, by or on behalf of the Corporation
                                         or shareholder of the Corporation, that promote or reasonably could be expected to promote
                                         the purchase or sale of securities of the Corporation, but does not include:

 

		(i)	the
                                         dissemination of information provided, or records prepared, in the ordinary course of
                                         the business of the Corporation:

 

		(A)	to
                                         promote the sale of products or services of the Corporation; or

 

		(B)	to
                                         raise public awareness of the Corporation, that cannot reasonably be considered to promote
                                         the purchase or sale of securities of the Corporation;

 

		(ii)	activities
                                         or communications necessary to comply with the requirements of:

 

		(A)	applicable
                                         securities laws;

 

		(B)	Exchange
                                         requirements or the by-laws, rules or other regulatory instruments of any other self-regulatory
                                         body or exchange having jurisdiction over the Corporation;

 

		(iii)	communications
                                         by a publisher of, or writer for, a newspaper, magazine or business or financial publication,
                                         that is of general and regular paid circulation, distributed only to subscribers to it
                                         for value or to purchasers of it, if:

 

    - 2 -

     

    

 

		(A)	the
                                         communication is only through the newspaper, magazine or publication; and

 

		(B)	the
                                         publisher or writer receives no commission or other consideration other than for acting
                                         in the capacity of publisher or writer; or

 

		(iv)	activities
                                         or communications that may be otherwise specified by the Exchange;

 

		(o)	“Management
                                         Company Employee” means an individual who is employed by a person providing
                                         management services to the Corporation or an Affiliate which are required for the ongoing
                                         successful operation of the business enterprise of the Corporation or the Affiliate,
                                         but excluding a person providing Investor Relations Activities;

 

		(p)	“Officer”
                                         means an officer of the Corporation or of an Affiliate, and includes a Management Company
                                         Employee;

 

		(q)	“Option”
                                         means an option to purchase Common Shares pursuant to this Plan;

 

		(r)	“Option
                                         Agreement” means an agreement, in the form attached hereto as Schedule “A”,
                                         whereby the Corporation grants to an Eligible Persons an Option;

 

		(s)	“Other
                                         Share Compensation Arrangement” means, other than this Plan and any Options,
                                         any stock option plan, stock options, employee stock purchase plan or other compensation
                                         or incentive mechanism involving the issuance or potential issuance of Common Shares,
                                         including but not limited to a purchase of Common Shares from a treasury which is financially
                                         assisted by the Corporation by way of loan, guarantee or otherwise;

 

		(t)	“Participant”
                                         means an Eligible Person who has been granted an Option; and

 

		(u)	“Plan”
                                         means this Stock Option Plan.

 

	1.2	Interpretation

 

		(a)	References
                                         to the outstanding Common Shares at any point in time shall be computed on a non-diluted
                                         basis.

 

ARTICLE
2

 ESTABLISHMENT OF PLAN

 

	2.1	Purpose

 

The
purpose of this Plan is to advance the interests of the Corporation, through the grant of Options, by:

 

		(a)	providing
                                         an incentive mechanism to foster the interest of Eligible Persons in the success of the
                                         Corporation and its Affiliates;

 

		(b)	encouraging
                                         Eligible Persons to remain with the Corporation or its Affiliates; and

 

		(c)	attracting
                                         new Directors, Officers, Employees and Consultants.

 

    - 3 -

     

    

 

	2.2	Shares
Reserved

 

		(a)	The
                                         aggregate number of Common Shares that may be reserved for issuance pursuant to Options
                                         shall not exceed 10% of the outstanding Common Shares at the time of the granting of
                                         an Option, LESS the aggregate number of Common Shares then reserved for
                                         issuance pursuant to any Other Share Compensation Arrangement. For greater certainty,
                                         if an Option is surrendered, terminated or expires without being exercised, the Common
                                         Shares reserved for issuance pursuant to such Option shall be available for new Options
                                         granted under this Plan.

 

		(b)	If
                                         there is a change in the outstanding Common Shares by reason of any share consolidation
                                         or split, reclassification or other capital reorganization, or a stock dividend, arrangement,
                                         amalgamation, merger or combination, or any other change to, event affecting, exchange
                                         of or corporate change or transaction affecting the Common Shares, the Board shall make,
                                         as it shall deem advisable and subject to the requisite approval of the relevant regulatory
                                         authorities, appropriate substitution and/or adjustment in:

 

		(i)	the
                                         number and kind of shares or other securities or property reserved or to be allotted
                                         for issuance pursuant to this Plan;

 

		(ii)	the
                                         number and kind of shares or other securities or property reserved or to be allotted
                                         for issuance pursuant to any outstanding unexercised Options, and in the exercise price
                                         for such shares or other securities or property; and

 

		(iii)	the
                                         vesting of any Options (subject to the approval of the Exchange if such vesting is mandatory
                                         under the policies of the Exchange), including the accelerated vesting thereof on conditions
                                         the Board deems advisable,

 

and
if the Corporation undertakes an arrangement or is amalgamated, merged or combined with another corporation, the Board shall make
such provision for the protection of the rights of Participants as it shall deem advisable.

 

		(c)	No
                                         fractional Common Shares shall be reserved for issuance under this Plan and the Board
                                         may determine the manner in which an Option, insofar as it relates to the acquisition
                                         of a fractional Common Share, shall be treated.

 

		(d)	The
                                         Corporation shall, at all times while this Plan is in effect, reserve and keep available
                                         such number of Common Shares as will be sufficient to satisfy the requirements of this
                                         Plan.

 

	2.3	Non-Exclusivity

 

Nothing
contained herein shall prevent the Board from adopting such other incentive or compensation arrangements as it shall deem advisable.

 

	2.4	Effective
Date

 

This
Plan shall be subject to the approval of any regulatory authority whose approval is required, if any. Any Options granted under
this Plan prior to such approvals being given, if required, shall be conditional upon such approvals being given, and no such
Options may be exercised unless and until such approvals are given. If no such approvals are required then this Plan is effective
on the date it is approved by the Board.

 

    - 4 -

     

    

 

ARTICLE
3 

ADMINISTRATION OF PLAN

 

	3.1	Administration

 

		(a)	This
                                         Plan shall be administered by the Board. Subject to the provisions of this Plan, the
                                         Board shall have the authority:

 

		(i)	to
                                         determine the Eligible Persons to whom Options are granted, to grant such Options, and
                                         to determine any terms and conditions, limitations and restrictions in respect of any
                                         particular Option grant, including but not limited to the nature and duration of the
                                         restrictions, if any, to be imposed upon the acquisition, sale or other disposition of
                                         Common Shares acquired upon exercise of the Option, and the nature of the events and
                                         the duration of the period, if any, in which any Participant’s rights in respect
                                         of an Option or Common Shares acquired upon exercise of an Option may be forfeited;

 

		(ii)	to
                                         interpret the terms of this Plan, to make all such determinations and take all such other
                                         actions in connection with the implementation, operation and administration of this Plan,
                                         and to adopt, amend and rescind such administrative guidelines and other rules and regulations
                                         relating to this Plan, as it shall from time to time deem advisable, including without
                                         limitation for the purpose of ensuring compliance with Section 3.3 hereof.

 

		(b)	The
                                         Board’s interpretations, determinations, guidelines, rules and regulations shall
                                         be conclusive and binding upon the Corporation, Eligible Persons, Participants and all
                                         other persons.

 

	3.2	Amendment,
Suspension and Termination

 

The
Board may amend, subject to the approval of any regulatory authority whose approval is required, suspend or terminate this Plan
or any portion thereof. No such amendment, suspension or termination shall alter or impair any outstanding unexercised Options
or any rights without the consent of such Participant. If this Plan is suspended or terminated, the provisions of this Plan and
any administrative guidelines, rules and regulations relating to this Plan shall continue in effect for the duration of such time
as any Option remains outstanding.

 

	3.3	Compliance
with Legislation

 

		(a)	This
                                         Plan, the grant and exercise of Options hereunder and the Corporation’s obligation
                                         to sell, issue and deliver any Common Shares upon exercise of Options shall be subject
                                         to all applicable federal, provincial and foreign laws, policies, rules and regulations,
                                         to the policies, rules and regulations of any stock exchanges or other markets on which
                                         the Common Shares are listed or quoted for trading and to such approvals by any governmental
                                         or regulatory agency as may, in the opinion of counsel to the Corporation, be required.
                                         The Corporation shall not be obligated by the existence of this Plan or any provision
                                         of this Plan or the grant or exercise of Options hereunder to sell, issue or deliver
                                         Common Shares upon exercise of Options in violation of such laws, policies, rules and
                                         regulations or any condition or requirement of such approvals.

 

    - 5 -

     

    

 

		(b)	No
                                         Option shall be granted and no Common Shares shall be sold, issued or delivered hereunder
                                         where such grant, sale, issue or delivery would require registration or other qualification
of this Plan or of the Common Shares under the securities laws of any foreign jurisdiction, and any purported grant of any Option
or any sale, issue and delivery of Common Shares hereunder in violation of this provision shall be void. In addition, the Corporation
shall have no obligation to sell, issue or deliver any Common Shares hereunder unless such Common Shares shall have been duly
listed, upon official notice of issuance, with all stock exchanges on which the Common Shares are listed for trading.

  

		(c)	Common
                                         Shares sold, issued and delivered to Participants pursuant to the exercise of Options
                                         shall be subject to restrictions on resale and transfer under applicable securities laws
                                         and the requirements of any stock exchanges or other markets on which the Common Shares
                                         are listed or quoted for trading, and any certificates representing such Common Shares
                                         shall bear, as required, a restrictive legend in respect thereof.

 

ARTICLE
4

 OPTION GRANTS

 

	4.1	Eligibility
and Multiple Grants

 

Options
shall only be granted to Eligible Persons. An Eligible Person may receive Options on more than one occasion and may receive separate
Options, with differing terms, on any one or more occasions.

 

	4.2	Option
Agreement

 

Every
Option shall be evidenced by an Option Agreement executed by the Corporation and the Participant, which shall, if the Participant
is an Employee, Consultant or Management Company Employee, contain a representation and warranty by the Corporation and such Participant
that such Participant is a bona fide Employee, Consultant or Management Company Employee, as the case may be, of the Corporation
or an Affiliate. In the event of any discrepancy between this Plan and an Option Agreement, the provisions of this Plan shall
govern.

 

	4.3	Limitation
on Grants and Exercises

 

		(a)	Compliance
                                         with securities laws. All grants of Options under this Plan will comply with section
                                         2.25 of National Instrument 45-106 Prospectus Exemptions (“NI 45-106”)
                                         as if the Corporation were an “unlisted reporting issuer”.

 

		(b)	To
                                         any one person. The number of Common Shares reserved for issuance to any one person
                                         in any 12 month period under this Plan and any Other Share Compensation Arrangement shall
                                         not exceed 10% of the outstanding Common Shares at the time of the grant, unless the
                                         Corporation has obtained Disinterested Shareholder Approval to exceed such limit as required
                                         by subsection 2.25(3) of NI 45-106.

 

		(c)	To
                                         Consultants. The number of Common Shares reserved for issuance to any one Consultant
                                         in any 12 month period under this Plan and any Other Share Compensation Arrangement shall
                                         not exceed 2% of the outstanding Common Shares at the time of the grant.

 

		(d)	To
                                         persons conducting Investor Relations Activities. The aggregate number of Common
                                         Shares reserved for issuance to all Eligible Persons conducting Investor Relations Activities
                                         in any 12 month period under this Plan and any Other Share Compensation Arrangement shall
                                         not exceed 2% of the outstanding Common Shares at the time of the grant.

 

    - 6 -

     

    

 

		(e)	To
                                         Insiders. Unless the Corporation has received Disinterested Shareholder Approval
                                         to do so:

 

		(i)	the
                                         aggregate number of Common Shares reserved for issuance to Insiders under this Plan and
                                         any Other Share Compensation Arrangement shall not exceed 10% of the outstanding Common
                                         Shares at the time of the grant;

 

		(ii)	the
                                         aggregate number of Common Shares reserved for issuance to Insiders in any 12
month period under this Plan and any Other Share Compensation Arrangement shall not exceed 10% of the outstanding Common Shares
at the time of the grant.

 

		(f)	Exercises.
                                         Unless the Corporation has received Disinterested Shareholder Approval to do so,
                                         the number of Common Shares issued to any Eligible Person within a 12 month period pursuant
                                         to the exercise of Options granted under this Plan and any Other Share Compensation Arrangement
                                         shall not exceed 10% of the outstanding Common Shares at the time of the exercise.

 

ARTICLE
5

 OPTION TERMS

 

	5.1	Exercise
Price

 

		(a)	The
                                         Corporation must not grant Options with an exercise price lower than the greater of the
                                         closing market prices of the underlying securities on: (a) the trading day prior to the
                                         date of grant of the Options; and (b) the date of grant of the Options.

 

		(b)	If
                                         an Option is granted by the Corporation after its initial listing or after it has been
                                         recalled for trading following a suspension or halt, the Corporation must wait until
                                         a satisfactory market has been established before setting the exercise price for and
                                         granting the Option, being at least ten trading days since the date of listing or the
                                         day on which trading in the Company’s securities resumes, as the case may be.

 

		(c)	If
                                         Options are granted within ninety days of a distribution by the Corporation by prospectus,
                                         then the exercise price per Common Share for such Option shall not be less than the greater
                                         of the minimum exercise price calculated pursuant to subsection (a) herein and the price
                                         per Common Share paid by the public investors for Common Shares acquired pursuant to
                                         such distribution. Such ninety day period shall begin:

 

		(i)	on
                                         the date the final receipt is issued for the final prospectus in respect of such distribution;

 

		(ii)	in
                                         the case of an initial public offering, on the date of listing; and

 

		(iii)	in
                                         the case of a prospectus that qualifies special warrants, on the closing date of the
                                         private placement in respect of such special warrants.

 

		5.2	Expiry
Date

 

		(a)	Every
                                         Option shall have a term not exceeding, and shall therefore expire no later than, 10
                                         years after the date of grant, subject to extension where the Expiry Date falls within
                                         a blackout period as detailed in Section 5.2(b) below.

  

    - 7 -

     

    

 

		(b)	The
                                         Expiry Date of an Option shall automatically extend if such Expiry Date falls within
                                         a period (a “blackout period”) during which the Corporation prohibits
                                         Optionees from exercising their Options to the extent that:

 

		(i)	the
                                         blackout period is formally imposed by the Corporation pursuant to its internal trading
                                         policies as a result of the bona fide existence of undisclosed Material Information.
                                         For greater certainty, in the absence of the Corporation formally imposing a blackout
                                         period, the Expiry Date of any Options will not be automatically extended in any circumstances;

 

		(ii)	the
                                         blackout period must expire upon the general disclosure of the undisclosed Material Information.
                                         The Expiry Date of the affected Options can be extended to no later than ten business
                                         days after the expiry of the blackout period; and

 

		(iii)	the
                                         automatic extension of an Optionee’s Options will not be permitted where the Optionee
                                         or the Corporation is subject to a cease trade order (or similar order under securities
                                         laws) in respect of the Corporation’s securities.

 

	5.3	Vesting

 

		(a)	Subject
                                         to subsection (b) below and otherwise in compliance with the policies of the Exchange,
                                         the Board shall determine the manner in which an Option shall vest and become exercisable.

 

		(b)	Options
                                         granted to Eligible Persons performing Investor Relations Activities shall vest over
                                         a minimum of 12 months with no more than 1/4 of such Options vesting in any three month
                                         period.

 

	5.4	Non-Assignability

 

Options
may not be assigned or transferred.

 

	5.5	Ceasing
to be Eligible Person

 

		(a)	If
                                         a Participant who is an Officer, Employee or Consultant is terminated for cause, each
                                         Option held by such Participant shall terminate and shall therefore cease to be exercisable
                                         upon such termination for cause.

 

		(b)	If
                                         a Participant dies prior to otherwise ceasing to be an Eligible Person, each Option held
                                         by such Participant shall terminate and shall therefore cease to be exercisable no later
                                         than the earlier of the Expiry Date and the date which is six months after the date of
                                         the Participant’s death, always provided that the Board may, in its discretion,
                                         extend the date of such termination and the resulting period in which such Option remains
                                         exercisable to a date not exceeding the earlier of the Expiry Date and the date which
                                         is twelve months after the date of the Participant’s death.

 

		(c)	If
                                         a Participant ceases to be an Eligible Person other than in the circumstances set out
                                         in subsection (a) or (b) herein, each Option held by such Participant shall terminate
                                         and shall therefore cease to be exercisable no later than the earlier of the Expiry Date
                                         and the date which is 30 days after such event, always provided that the Board may, in
                                         its discretion, extend the date of such termination and the resulting period in which
                                         such Option remains exercisable to a date not exceeding the earlier of the Expiry Date
                                         and the date
which is twelve months after such event, and further provided that the Board may, in its discretion, on a case-by-case basis and
only with the approval of the Exchange, further extend the date of such termination and the resulting period in which such Option
remains exercisable to a date exceeding the date which is after twelve months of such event.

  

    - 8 -

     

    

 

		(d)	For
                                         greater certainty, if a Participant dies, each Option held by such Participant shall
                                         be exercisable by the legal representative of such Participant until such Option terminates
                                         and therefore ceases to be exercisable pursuant to the terms of Section 5.5(b) herein.

 

		(e)	If
                                         any portion of an Option is not vested at the time a Participant ceases, for any reason
                                         whatsoever, to be an Eligible Person, such unvested portion of the Option may not be
                                         thereafter exercised by the Participant or its legal representative, as the case may
                                         be, always provided that the Board may, in its discretion further and subject to the
                                         approval of the Exchange where the vesting of the said Participant’s options was
                                         a requirement of the Exchange’s policies, thereafter permit the Participant or
                                         its legal representative, as the case may be, to exercise all or any part of such unvested
                                         portion of the Option that would have vested prior to the time such Option otherwise
                                         terminates and therefore ceases to be exercisable pursuant to the terms of this Section.
                                         For greater certainty, and without limitation, this provision will apply regardless of
                                         whether the Participant ceased to be an Eligible Person voluntarily or involuntarily,
                                         was dismissed with or without cause, and regardless of whether the Participant received
                                         compensation in respect of dismissal or was entitled to a notice of termination for a
                                         period which would otherwise have permitted a greater portion of an Option to vest.

 

ARTICLE
6

 EXERCISE PROCEDURE

 

	6.1	Exercise
Procedure

 

An
Option may be exercised from time to time, and shall be deemed to be validly exercised by the Participant only upon the Participant’s
delivery to the Corporation at its registered office of the following:

 

		(a)	a
                                         written notice of exercise, in the form hereto attached as Schedule “B”,
                                         addressed to the Corporate Secretary of the Corporation, specifying the number of Common
                                         Shares with respect to which the Option is being exercised;

 

		(b)	the
                                         originally signed Option Agreement with respect to the Option being exercised;

 

		(c)	a
                                         certified cheque or bank draft made payable to the Corporation for the aggregate exercise
                                         price for the number of Common Shares with respect to which the Option is being exercised;

 

		(d)	documents
                                         containing such representations, warranties, agreements and undertakings, including as
                                         to the Participant’s future dealings in such Common Shares, as counsel to the Corporation
                                         reasonably determines to be necessary or advisable in order to comply with or safeguard
                                         against the violation of the laws of any jurisdiction; and

 

		(e)	if
                                         the Participant is performing Investor Relations Activities for the Corporation, the
                                         Optionee must either: (i) deposit the Common Shares on exercise of an Option to a designated
                                         brokerage account as directed by the Board through which the Optionee conducts all trades
                                         in the Common Shares of the Corporation; or (ii) file insider trading reports
with the Board when each trade is made with Common Shares in respect of exercised Options,

   

and
on the business day following, the Participant shall be deemed to be a holder of record of the Common Shares with respect to which
the Option is being exercised, and thereafter the Corporation shall, within a reasonable amount of time, cause certificates for
such Common Shares to be issued and delivered to the Participant.

 

    - 9 -

     

    

 

ARTICLE
7

 AMENDMENT OF OPTIONS

 

	7.1	Consent
to Amend

 

The
Board may amend any Option with the consent of the affected Participant and the Exchange, including any shareholder approval required
by the Exchange. For greater certainty, Disinterested Shareholder Approval is required for any reduction in the exercise price
of an Option if the Participant is an Insider at the time of the proposed amendment.

 

	7.2	Amendment
Subject to Approval

 

If
the amendment of an Option requires regulatory or shareholder approval, such amendment may be made prior to such approvals being
given, but no such amended Options may be exercised unless and until such approvals are given.

 

ARTICLE
8

 MISCELLANEOUS

 

	8.1	No
Rights as Shareholder

 

Nothing
in this Plan or any Option shall confer upon a Participant any rights as a shareholder of the Corporation with respect to any
of the Common Shares underlying an Option unless and until such Participant shall have become the holder of such Common Shares
upon exercise of such Option in accordance with the terms of the Plan.

 

	8.2	No
Right to Employment

 

Nothing
in this Plan or any Option shall confer upon a Participant any right to continue in the employ of the Corporation or any Affiliate
or affect in any way the right of the Corporation or any Affiliate to terminate the Participant’s employment, with or without
cause, at any time; nor shall anything in the Plan or any Option be deemed or construed to constitute an agreement, or an expression
of intent, on the part of the Corporation or any Affiliate to extend the employment of any Participant beyond the time which the
Participant would normally be retired pursuant to the provisions of any present or future retirement plan of the Corporation or
any Affiliate, or beyond the time at which he would otherwise be retired pursuant to the provisions of any contract of employment
with the Corporation or any Affiliate.

 

	8.3	Governing
Law

 

This
Plan, all Option Agreements, the grant and exercise of Options hereunder, and the sale, issuance and delivery of Common
Shares hereunder upon exercise of Options shall be, as applicable, governed by and construed in accordance with the laws of
the Province of Manitoba and the federal laws of Canada applicable therein. The Courts of the Province of Manitoba shall have
the exclusive jurisdiction to hear and decide any disputes or other matters arising herefrom.

 

	8.4	Approval

 

Approved
by the Board of the Corporation on May 1, 2019.

 

    - 10 -

     

    

 

SCHEDULE
“A”

FORM
OF STOCK OPTION PLAN OPTION AGREEMENT

 

This
Option Agreement is entered into between Snow Lake Resources Ltd. (the “Corporation”) and the Optionee named
below pursuant to the 2019 Stock Option Plan (the “Plan”), a copy of which is attached hereto, and confirms
that:

 

		1.	___________________________(the
                                         “Grant Date”);

  

		2.	___________________________(the
“Optionee”);

 

		3.	was
granted the option (the “Option”) to purchase common shares (the “Common Shares”)
of the Corporation;

 

		4.	for
the price (the “Option Price”) of $ per Common Share;

 

		5.	which
shall be exercisable (“Vested”) in whole or in part in the following amounts on or after the following dates:

 

		(a)	%
                                         on the Grant Date; and

 

		(b)	%
                                         every months thereafter;

 

		6.	terminating
on _________________________ (the “Expiry Date”),

 

all
on the terms and subject to the conditions set out in the Plan. For greater certainty, once Common Shares have become Vested,
the shares continue to be exercisable until the termination or cancellation thereof as provided in this Option Agreement and the
Plan.

 

The
undersigned Optionee represents and warrants that he/she is engaged to provide on, an ongoing bona fide basis, consulting, technical,
management or other services to the Corporation or to an Affiliate of the Corporation.

 

By
signing this Option Agreement, the Optionee acknowledges that the Optionee has read and understandings the Plan and agrees to
the terms and conditions of the Plan and this Option Agreement.

 

[REMAINDER
INTENTIONALLY LEFT BLANK]

 

     

     

    

 

IN
WITNESS WHEREOF the parties hereto have executed this Option Agreement as of the____day of___________________, 20        .

  

	 	SNOW
    LAKE RESOURCES LTD.
	 	 
	 	Per:   	 
	 	Name: 	       
	 	Title:	 

  

	SIGNED,
    SEALED, AND DELIVERED	)	OPTIONEE	 
	in
    the presence of	)	 	 
	 	)	 	 
	 	)	 	 
	 	)	 	 
		)	 	 
	Witness	Name:	 
	)	 

 

     

     

    

 

SCHEDULE
“B”

 NOTICE OF EXERCISE

 

To
Exercise the Option, Complete and Return this Form

 

The
undersigned Optionee (or his or her legal representative(s) permitted under the 2019 Stock Option Plan of Snow Lake Resources
Ltd. (the “Corporation”) (as the same may be supplemented and amended from time to time) (the “Plan”)
hereby irrevocably elects to exercise the Option for the number of Common Shares as set forth below:

  

	(a)Number
    of Options to be Exercised:	 
	 	 
	(b)Option
    Exercise Price per Common Share:	$
	 	 
	Aggregate
    Purchase Price [ (a) multiplied by (b) ]:	$

 

and
hereby tenders a certified cheque or bank draft for such aggregate Exercise Price and directs such Common Shares to be issued
and registered in the name of the undersigned and that a Common Share certificate therefor be issued as directed in the Plan,
all subject to and in accordance with the Plan. Unless otherwise defined herein, any capitalized terms used herein shall have
the meaning ascribed to such terms in the Plan.

 

DATED:________, 20____

  

	SIGNED,
    SEALED, AND DELIVERED	)	OPTIONEE	 
	in
    the presence of	)	 	 
	 	)	 	 
	 	)	 	 
	 	)	 	 
	 	)	 	 
	Witness	Name:	 
	)

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00325-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00325-of-00352.parquet"}]]