Document:

Enertopia Corporation: Exhibit 10.1 - Filed by newsfilecorp.com

Exhibit 10.1

AGREEMENT FOR SALE OF MINING CLAIMS 
AND ESCROW
INSTRUCTIONS 

DATE: __________________________, 2011 

SELLER: 

TIMBER WOLF MINERALS LTD. 
A State
of Colorado corporation 
1314 Linden Street 
Canon City, Colorado 81212

(“Timber Wolf”) 

AND 

BUYER: 

WILDHORSE COPPER (AZ) INC. 
6868
North 7th Avenue, Suite 204 
Phoenix, Arizona 85013-1150 
(“Wildhorse”)

ESCROW AGENT:

W. Scott Donaldson, Attorney at Law

6868 North 7th Avenue, Suite 204 
Phoenix, Arizona 85013-1150 

	SUMMARY OF MONETARY TERMS: 	  
	Purchase Price: 	$532,500.00. 
	Earnest Money to be deposited in escrow upon opening
      of escrow: 	$3,000.00. 
	Seller carry-back financing: 	$532,000.00 in cash payments.

When used herein, the terms “Sellers,” “Buyer,” “Escrow Agent,”
“Purchase Price,” and “Earnest Money” shall have the meanings provided
above.

BY THIS AGREEMENT FOR SALE OF MINING CLAIMS AND ESCROW
INSTRUCTIONS (this “Agreement”), Timber Wolf and Wildhorse agree as follows:

RECITALS 

	A. 	
      Timber Wolf is locating ten (10) mining claims in Socorro
      County, State of New Mexico (“Mining Claims”). The Mining Claims are more
      particularly described in Schedule A, attached hereto and incorporated
      herein by reference. 

	B. 	
      Wildhorse has agreed to pay the cost of locating Timber
      Wolf’s ten (10) mining claims. 

	 	
       

	C. 	
      Timber Wolf desires to sell the Mining Claims to
      Wildhorse and Wildhorse desires to purchasing the Mining Claims upon the
      terms and subject to the conditions herein contained.

NOW THEREFORE in consideration of the premises and of the
mutual covenants and provisions herein contained, the parties hereto agree as
follows: 

AGREEMENT 

1.          
Conveyance And Escrow Instructions 

          
1.1            Agreement
to Sell and Buy/Escrow Instructions. When executed and delivered, this
Agreement will constitute a binding agreement by Timber Wolf to sell, and
Wildhorse to buy, in accordance with the terms and conditions of this Agreement,
Timber Wolf’s right, title and interest in the Mining Claims, together with all
improvements thereon, if any, and all rights-of-way, easements, rights of access
and ingress to and egress from such property appurtenant thereto (collectively,
the “Property”). This Agreement shall also constitute the joint instructions of
Timber Wolf and Wildhorse to Escrow Agent, which shall act as their independent
escrow agent to receive, disburse, file, record and deliver all funds and
documents in connection with the sale and purchase of the Property pursuant to
this Agreement. 

          
By executing this Agreement Timber Wolf hereby grants to Wildhorse the
sole and exclusive right to purchase the Mining Claims from Timber Wolf, which
right shall grant possession of the Mining Claims exclusively to Wildhorse, its
successors and assigns. During the term of the Agreement, Wildhorse shall have
the right to conduct all activities related to the mineral exploration,
development and mining of the Mining Claims, subject to the conditions described
below. 

          
1.2            Opening of
Escrow; Earnest Money. Within fourteen (14) business days after the
execution of this Agreement by both Wildhorse and Timber Wolf, three (3)
executed copies of this Agreement (or counterparts thereof) shall be deposited
with Escrow Agent. Escrow Agent shall execute the acceptance on three (3)
counterparts, substituting original signature pages as required, retain one (1)
fully executed counterpart, and return fully executed counterparts to Timber
Wolf and Wildhorse. Escrow shall be opened when (i) Escrow Agent accepts this
Agreement, and (ii) Wildhorse deposits the Earnest Money with Escrow Agent (the
“Opening of Escrow”).

          
1.3            Items to
Be Delivered by Timber Wolf at Opening of Escrow. At or prior to the Opening
of Escrow, Timber Wolf shall deliver or cause to be delivered to Escrow
Agent: 

                     
(a)           
A fully executed Deed to Unpatented Mining Claims in the form attached
hereto as Schedule B for the Mining Claims; and 

                     
(b)           
Any affidavit or disclosure statement or certification as may be
required under the laws of the State of New Mexico for the conveyance of the
Property. 

2 

          
1.4            Items to
Be Delivered by Wildhorse at Opening of Escrow. At or prior to the Opening
of Escrow, Wildhorse, at its sole cost and expense, shall deliver, or cause to
be delivered, to Escrow Agent: 

                     
(a)           
Any affidavit or disclosure statement or certification as may be
required under the laws of the State of New Mexico for the conveyance of the
Property; and 

                     
(b)           
The Earnest Money. 

          
1.5            Change of
Escrow Agent. The Parties agree that W. Scott Donaldson is the initial
Escrow Agent, etc., and that Wildhorse has the unilateral authority to change
the Escrow Agent providing the new Escrow Agent agrees in writing to abide by
the terms of the Agreement, etc. 

2.           
Purchase Price 

The full purchase price is $532,500.00, payable in cash
payments, as follows: 

          
2.1           
Payments. Wildhorse shall make the following payments totaling
$532,500.00 in cash to Timber Wolf: 

                     
(a)           
the $3,000.00 Earnest Money on or before the Opening of Escrow; (b) a
further $7,000.00 on or before 1 year from the Opening of Escrow; (c) a further
$10,000.00 on or before 2 years from the Opening of Escrow; (d) a further
$12,500.00 on or before 3 years from the Opening of Escrow; (e) a further
$25,000.00 on or before 4 years from the Opening of Escrow; (f) a further
$25,000.00 on or before 5 years from the Opening of Escrow; (g) a further
$50,000.00 on or before 6 years from the Opening of Escrow; (h) a further
$200,000.00 on or before 7 years from the Opening of Escrow; (i) a further
$200,000.00 on or before 8 years from the Opening of Escrow. 

          
2.2           
Method of Payment. All payments made pursuant to Section 2.1 shall be
made by check delivered to the Escrow Agent or to any single depository as
Timber Wolf may instruct. Upon making payment to the Escrow Agent or depository,
Wildhorse shall be relieved of any responsibility for the distribution of such
payments to Timber Wolf. 

3.           
Close Of Escrow 

          
3.1            Close of
Escrow. The closing of the escrow with respect to the conveyance of the
Property (the “Close of Escrow”) shall occur upon Wildhorse’s completing payment
to Timber Wolf the payments described in Section 2.1(a) through
(i) above. If the date for the Close of Escrow is not a business day for the
Escrow Agent or the County Recorder of the county in which the Property is
located, then the Close of Escrow shall occur on the first business day
thereafter. The Close of Escrow shall occur at the office of Escrow Agent or at
such other location as the parties may agree. Wildhorse shall have the right to
close prior to the Closing Deadline upon providing Timber Wolf and Escrow Agent
with not less than ten (10) days prior written notice and payment of the full
Purchase Price.  

3 

          
3.2            Delivery
of Title. Escrow Agent, upon receiving full payment of the balance due under
Sections 2.1(a) through (i), shall deliver to Wildhorse, or its heirs or
assigns, the executed deed described in Section 1.3 above. 

4.           
No Production Obligation; Definitions 

          
4.1            No
Production Obligation. Wildhorse shall be under no obligation whatever to
place the Mining Claims into production.

          
4.2           
Definitions. In this Agreement: 

          
"Area of Interest" means that area within one and one-half (1 1/2)
miles of the external perimeter of the Mining Claims which is not subject to an
existing agreement regarding mining claims between a third party and Timber Wolf
or Wildhorse. 

5.           
Covenants Of Wildhorse 

During the currency of this Agreement, Wildhorse shall: 

                     
(a)           
keep the Mining Claims in good standing by making payments to the
Bureau of Land Management ("BLM") on or before August 31 of each year during the
currency hereof and by the doing of all other acts and things and making all
other payments which may be necessary in that regard, including, but not limited
to, any payments or acts required by the State of New Mexico; 

                     
(b)           
permit Timber Wolf, or its representative, duly authorized by it in
writing, at its own risk and expense, access to the Mining Claims at all
reasonable times;

                     
(c)           
annually, subject to paragraph 10 and up to the payment in Section
2.1(i) to Timber Wolf, furnish Timber Wolf with a comprehensive report on an
annual basis containing all geological, geophysical and other data acquired by
Wildhorse pertaining to the Mining Claims during the year; and 

                     
(d)           
Wildhorse agrees that it has had the opportunity to consult with legal
counsel regarding this Agreement, and that it has done so to the extent it deems
necessary. 

4 

6.           
Covenants Of Timber Wolf 

Timber Wolf covenants with and represents and warrants to
Wildhorse that, to the best of Timber Wolf’s knowledge, without investigation or
inquiry or duty to inquire,: 

                     
(a)           
Timber Wolf is the legal and beneficial owner of the Mining Claims;

                     
(b)           
the Mining Claims have been duly and validly located and recorded in
accordance with the applicable laws of the State of New Mexico and are valid and
subsisting Mining Claims as of the date of execution and delivery of this
Agreement; 

                     
(c)           
the Mining Claims are in good standing, free and clear of all liens,
charges and encumbrances; 

                     
(d)           
Timber Wolf has the exclusive right and authority to enter into this
Agreement and to dispose of the Mining Claims in accordance with the terms
hereof, and that no other person, firm or corporation has any proprietary or
other interest in the same; 

                     
(e)           
Timber Wolf will, upon the signing of this Agreement, provide Wildhorse
with full access to all information pertaining to the Mining Claims, including
but not limited to, all reports, data and drill cores in its collective and
individual possession. Wildhorse shall have the right to remove for copying such
data and shall promptly return them to Timber Wolf when copied. Upon the
completion of the payments in Section 2.1(a) to (g) all of such data will become
the property of Wildhorse; and 

                     
(f)           
Timber Wolf agrees that it has had the opportunity to consult with
legal counsel regarding this Agreement, and that it has done so to the extent it
deems necessary. 

7.           
Termination Prior To Acquisition Of Mining Claims 

          
7.1            Default of
Payment Obligation. In the event Wildhorse should breach this Agreement by
failing to pay any installment when due, and thereafter upon being served by
Timber Wolf with an appropriate notice according to law, such breach is not
timely cured, then Wildhorse shall forfeit all rights thereto, including a
forfeiture of payments made under this Agreement up to the date of forfeiture
with all such payments being retained by Timber Wolf as liquidated damages. 

          
7.2            Other
Default by Wildhorse. Notwithstanding anything in this Agreement to the
contrary, if Wildhorse should be in default in performing any requirement herein
set forth (except for the requirement to make the payments set out in Section
2.1 in a timely manner), Timber Wolf shall give written notice to Wildhorse
specifying the default and Wildhorse shall not lose any rights granted under
this Agreement, unless, within sixty (60) days after the giving of a notice of
default by Timber Wolf, Wildhorse has failed to take reasonable steps to cure
the default by the appropriate payment or performance (Wildhorse hereby agreeing
that should it so commence to cure any defect it will prosecute the same to
completion without undue delay); and if Wildhorse fails to take reasonable steps
to cure any such default, Timber Wolf shall be entitled thereafter to terminate
this Agreement and the provisions of paragraph 7 shall then be applicable, and
to seek any remedy it may have on account of such default. 

5 

          
7.3            Wildhorse
Termination Obligations. If this Agreement is terminated, Wildhorse shall:

                     
(a)           
deliver to Timber Wolf within one hundred and twenty (120) days of the
said termination copies of all reports, maps, drill logs, assay results and any
other relevant technical data compiled by Wildhorse with respect to the Mining
Claims; 

                     
(b)           
remove from the Mining Claims within twelve (12) months of the
effective date of termination all facilities erected, installed or brought upon
the Mining Claims by or at the instance of Wildhorse, and any facilities
remaining on the Mining Claims after the expiration of the said period shall,
without compensation to Wildhorse, become the property of Timber Wolf; and 

                     
(c)           
not be bound thereafter in debt, damages or otherwise under this
Agreement save and except as provided for in paragraph 7 and with respect to
obligations arising from termination; and all payments theretofore paid by
Wildhorse shall be retained by Timber Wolf in consideration for entering into
this Agreement and for the rights conferred on Wildhorse thereby. 

          
7.4           
Termination by Wildhorse. In addition to any other termination
provisions contained in this Agreement, Wildhorse shall at any time have the
right to terminate this Agreement without liability therefor by giving written
notice of such termination to Timber Wolf, and in the event of such termination
this Agreement, save and except for the provisions of paragraph 7 hereof, and
subject to the obligations of Wildhorse arising from termination, shall be of no
further force and effect. The termination shall also provide that the Mining
Claims shall be in good standing for a period of at least ninety (90) days after
the termination. 

8.           
Assignment, Sale And First Right Of Refusal To Sell An Interest In The
Agreement And The Mining Claims 

This Agreement may be assigned or sold by Timber Wolf or
Wildhorse without the consent of, but upon written notice to, the other party.

Any assignment or sale hereunder shall be conditional upon the
purchaser first entering into an agreement whereby the purchaser agrees to be
bound by the terms and conditions of this Agreement. 

9.           
Additional Claims 

          
9.1.           
The parties hereby agree that each and every mining claim or mining or
surface title (including internal fractions), or interest therein (an
"Additional Timber Wolf Claim") which Timber Wolf may stake or otherwise acquire
during the currency of this Agreement and which lies in whole or in part within
the Area of Interest shall, at the option of Wildhorse, form a part of the
Mining Claims. Timber Wolf shall, upon acquisition of an Additional Timber Wolf
Claim, give notice to Wildhorse of such additional claim which it may acquire
and thereafter Wildhorse shall have 60 days within which to give notice of its
desire to have such Additional Timber Wolf Claim form part of the Mining Claims.
No payment is required to be made by Wildhorse to Timber Wolf for the addition
of any Additional Timber Wolf Claim to this Agreement.

6 

          
9.2.           
All titles to such Additional Timber Wolf Claims or Additional Wildhorse
Claims shall be held subject to the terms of this Agreement, except such claims
shall not be subject to the requirement in paragraph 7(a) to maintain said
additional claims in good standing with the BLM and Socorro County.

10.           
Confidentiality 

The data and information coming into the possession of Timber
Wolf or provided by Wildhorse to Timber Wolf by virtue of this Agreement shall
be kept confidential and shall not be disclosed to third parties without the
consent of Wildhorse, except: 

                     
(a)           
as required by law or the rules and regulations of any Stock Exchange
or Securities Commission having jurisdiction over a party; 

                     
(b)           
as may be required by a party in the prosecution or defense of a
lawsuit or other proceedings; 

                     
(c)           
as required by a financial institution in connection with any loan
contemplated as herein permitted; or 

                     
(d)           
as made public by Wildhorse through a news release or any other
alternate means of dissemination, 

          
and in any event the party making such disclosure shall concurrently
deliver a copy thereof to Wildhorse. Notwithstanding the foregoing, any party
may at any time, and without the consent of the other party share all or any of
such data and information with a consultant provided that such consultant shall
agree with such party to preserve the confidential nature of such data and
information. 

11.           
Whole Agreement 

This Agreement represents the complete understanding of the
parties and shall not be deviated from except by a further written agreement.
Each party agrees to execute further documents necessary to give effect to this
Agreement. 

12.           
Force Majeure 

If Wildhorse is prevented or delayed in complying with any
provisions of this Agreement except Section 2.1 by reason of strikes, lockouts,
labour shortages, power shortages, fires, wars, acts of God, governmental
regulations restricting normal operations or any other reason or reasons beyond
the control of Wildhorse, the time limited for the performance of the various
provisions of this Agreement as set out above shall be extended by a period of
time equal in length to the period of such prevention and delay. Wildhorse,
insofar as is possible, shall promptly give written notice to Timber Wolf of the
particulars of the reasons for any prevention or delay under this paragraph, and
shall take all reasonable steps to remove the cause of such prevention or delay
and shall give written notice to Timber Wolf as soon as such cause ceases to
subsist. 

7 

13.           
Notice 

Any notice required to be given under this Agreement shall be
deemed to be well and sufficiently given if delivered or if mailed by registered
mail (save and except during the period of any interruption in the normal postal
service) or sent by fax, in the case of Wildhorse, addressed as follows: 

          
Wildhorse Copper (AZ)
Inc.
          
6868 North 7th Avenue, Suite
204 
          
Phoenix, Arizona 85013-1150 

and, in the case of Timber Wolf, addressed as follows: 

          
Timber Wolf Minerals
Ltd. 
          
A State of Colorado
corporation 
          
1314 Linden
Street 
          
Canon City, Colorado 81212 

and any notice given as aforesaid shall be deemed to have been
given, if delivered, when delivered, if faxed, when received, or if mailed by
registered mail, on the fifth business day after the date of mailing thereof.
Either party may from time to time by notice in writing change its address and
fax number for the purpose of this paragraph. 

14.           
Counterparts 

This Agreement may be executed in one or more counterparts,
each of which may be executed by one or more of the signatory parties hereto.
Signature pages may be detached from the counterparts and attached to one or
more copies of this Agreement to form multiple legally effective documents.

15.           
Further Assurances 

The parties hereto agree to execute all such further or other
assurances and documents and to do or cause to be done all acts or things
necessary to implement and carry into effect the provisions and intent of this
Agreement. 

16.           
Time Of Essence 

Time shall be of the essence of this Agreement. 

17.           
Titles 

The titles to the respective paragraphs hereof shall not be
deemed as part of this Agreement but shall be regarded as having been used for
convenience only. 

8 

18.           
Successors And Assigns 

This Agreement shall enure to the benefit of and be binding
upon the parties hereto and their respective successors, and assigns. 

19.           
Governing Law 

This Agreement shall be governed by and interpreted in
accordance with the laws of the State of New Mexico. 

20.           
Additional Acts And Documents; Recordation 

The parties agree to take such further actions, and to execute,
acknowledge and deliver to Escrow Agent such further documents as Escrow Agent,
Wildhorse or Timber Wolf may reasonably request to effectuate the intent of this
Agreement or to satisfy Escrow Agent’s requirements. The provisions of this
Section shall survive the Close of Escrow or termination of this Agreement.
Wildhorse may record a memorandum of this Agreement with the Socorro County
Recorder’s Office. 

21.           
Acknowledgement – Personal Information 

The undersigned hereby acknowledges and consents to: 

	 	(a) 	
      the disclosure to regulatory authorities of all personal
      information of the undersigned by Wildhorse; and 

	 	 	
       

	 	(b) 	
      the collection, use and disclosure of such personal
      information by regulatory authorities in accordance with requirements,
      including the provision to third party service providers, from time to
      time. 

22.           
Prior Agreements 

This Agreement supersedes and replaces all prior agreements
between the parties hereto with respect to the Mining Claims, which said prior
agreements shall be deemed to be null and void upon the execution hereof. 

9 

IN WITNESS WHEREOF the parties hereto have hereunto executed
these presents as of the day and year first above written. 

Dated
this              
 day of ____________________, 2011. 

BUYER 

WILDHORSE COPPER (AZ) INC. 

By ____________________
Name: 
Title:

STATE OF ___________  
) 
                                                 
) 
ss: County of ___________) 

This instrument was acknowledged before me this _____day of
__________, 2011, by _____________________, as ___________________________of
Wildhorse Copper (AZ) Inc. 

IN WITNESS WHEREOF, I hereunto set my hand and official seal.

__________________________
    Notary Public

My commission expires: 
____________________

10 

SELLER 

TIMBER WOLF MINERALS LTD. 

By ____________________
Name: 
Title:

STATE OF ___________)

                                              
) ss: 
County of ___________  ) 

This instrument was acknowledged before me this _____ day of
__________, 2011, by _____________________, as ___________________________of
Timber Wolf Minerals Ltd. 

IN WITNESS WHEREOF, I hereunto set my hand and official seal.

_______________________
    Notary Public 

My commission expires: 
____________________

11 

SCHEDULE A 

	Claim Name 	Socorro County, New
      Mexico Instrument Number 	BLM NMMC No. 
	TIMBERWOLF 	16
    	201100744 
	TIMBERWOLF 	17
    	201100745 
	TIMBERWOLF 	18
    	201100746 
	TIMBERWOLF 	19
    	201100747 
	TIMBERWOLF 	20
    	201100748 
	TIMBERWOLF 	25
    	201100753 
	TIMBERWOLF 	26
    	201100754 
	TIMBERWOLF 	27
    	201100755 
	TIMBERWOLF 	28
    	201100756 
	TIMBERWOLF 	29
    	201100757 

SCHEDULE B 

When Recorded Mail To: 

W. Scott Donaldson, Esq. 
6868 North 7th Avenue, Suite 204

Phoenix, AZ 85013-1150 

DEED TO UNPATENTED MINING CLAIMS 

      FOR VALUABLE CONSIDERATION, the
sufficiency and receipt of which is hereby acknowledged, Timber Wolf Minerals
Ltd., a Colorado corporation, does hereby forever quit claim, sell, transfer and
convey all its right, title and interest in the unpatented mining claims
described on Exhibit A, attached hereto and incorporated herein by reference, to
Wildhorse Copper (AZ) Inc., an Arizona corporation. 

      IN WITNESS WHEREOF, Timber Wolf
Minerals Ltd., has executed this instrument as of this _____day of
_____________________, 2011. 

Timber Wolf Minerals Ltd. 

_____________________
By:
__________________
Its: __________________

STATE OF _____________)

                                                  
) ss. 
County of ______________) 

      This instrument was acknowledged
before me this ____ day of ____________________, 2011, by
_________________________________, as __________________________of Timber Wolf
Minerals Ltd. 

      IN WITNESS WHEREOF, I have
hereunto set my hand and affixed my notarial seal the day and year first above
written. 

_________________________
Notary
Public 

My commission expires: _______________________

EXEMPT UNDER A.R.S. § 11-1134(A)(6) 

EXHIBIT A 

	Claim Name 	  Socorro County, New
      Mexico Instrument Number 	BLM AMC No. 
	TIMBERWOLF 	16
    	201100744 
	TIMBERWOLF 	17
    	201100745 
	TIMBERWOLF 	18
    	201100746 
	TIMBERWOLF 	19
    	201100747 
	TIMBERWOLF 	20
    	201100748 
	TIMBERWOLF 	25
    	201100753 
	TIMBERWOLF 	26
    	201100754 
	TIMBERWOLF 	27
    	201100755 
	TIMBERWOLF 	28
    	201100756 
	TIMBERWOLF 	29
    	201100757 

2Enertopia Corp.: Exhibit 10.2 - Filed by newsfilecorp.com

Exhibit 10.2

OPTION AGREEMENT

THIS AGREEMENT made effective as of the ___ day ofApril, 2011

BETWEEN:

Wildhorse Copper Inc., with an office at 826 Leon Avenue, Kelowna, BC, V1Y 6J8 Canada

 (the "Wildhorse") 

OF THE FIRST PART

AND:

Wildhorse Copper (AZ) Inc., with an office at 6868 North 7th Avenue, Suite 204, Phoenix,

Arizona, 85013-1150 USA

(the "Wildhorse Sub") 

OF THE SECOND PART

(Wildhorse and Wildhorse Sub are collectively referred to as the “Optionor”)

AND:

Enertopia Corporation, a company with an office at Suite 950 1130 West Pender,

Vancouver, BC, V6E 4A4 Canada 

(the "Optionee") 

OF THE THIRD PART

AND:

W. Scott Donaldson, Attorney at Law, with an office at 6868 North 7th Avenue, Suite 204,

Phoenix, Arizona 85013-1150 

(the "Escrow Agent") 

OF THE FOURTH PART

WHEREAS:

A.               The Optionor entered in to a letter of intent with the Optionee dated January 31, 2011 (the “LOI”), pursuant to which the Optionee has the exclusive option to acquire an undivided 100% right, title and interest in and to certain mineral
claims as set out in Schedule A (the “Wildhorse Concessions”), Schedule B (the “Timber Wolf Concessions”), and Schedule C (the “Wildhorse Copper Hills #1 mining claim Concession”) (the
Wildhorse Concessions, Timber Wolf Concessions and the Wildhorse Copper Hills #1 mining claim Concession are collectively referred to as the “Concessions” or the “Property” and taken together are known as the
“Copper Hills Property”). The Optionor may acquire the Property, subject to the Royalty (as defined herein), on the terms and conditions hereinafter set forth.

B.                The Concessions are either held directly by the Optionor, directly by the Optionor through a purchase agreement between the Optionor and Northern Tiger Resources Inc. (“Northern Tiger”) (the “Northern Tiger
Agreement”) or through an agreement for sale between the Optionor and Timber Wolf Minerals Ltd. (“Timber Wolf”) (the “Timber Wolf Agreement”). It is understood that the Optionee will be acquiring the
Concessions held by the Optionor and Timber Wolf and that the Optionor will assign both the Northern Tiger Agreement and the Timber Wolf Agreement to the Optionee.

2

C.                The Wildhorse Copper Hills #1 mining claim Concession which is owned directly by the Optionor is subject to a 1 per cent Net Smelter Returns Royalty up to a total of $2.0 million from production from such claim as more particularly described
in Schedule D to this Agreement. 

NOW THEREFORE THIS AGREEMENT WITNESSES that in consideration of the sum of $1.00 now paid by the Optionee to the Optionor (the receipt and sufficiency of which is hereby acknowledged), the parties agree as follows:

	
1. 		
DEFINITIONS. For the purposes of this Agreement the following words and phrases shall have the following meanings, namely:

	
	 	 	 	 
		
(a) 		
“Escrow Agent” shall mean W. Scott Donaldson, Attorney at Law;

	
	 	 	 	 
		
(b) 		
“Northern Tiger Agreement” shall mean the agreement set out in Schedule D;

	
	 	 	 	 
		
(c) 		
"Option" means the option to acquire an undivided 100% right, title and interest in and to the Property, subject to the Royalty, as provided in this Agreement;

	
	 	 	 	 
		
(d) 		
"Option Period" means the period from the date of this Agreement to and including the date of exercise or termination of the Option;

	
	 	 	 	 
		
(e) 		
"Property" means the mineral claims located in Socorro County, New Mexico as more particularly set out in Schedules "A", “B” and “C” hereto, including any replacement or successor claims, and all mineral/mining
leases and other mining interests derived from any such claims. Any reference herein to any mineral claim comprising the Property includes any mineral/mining leases or other interests into which such mineral claim may have been replaced or
converted;

	
	 	 	 	 
		
(f) 		
"Property Rights" means all licenses, permits, easements, rights-of-way, certificates and other approvals obtained by either of the parties either before or after the date of this Agreement and necessary for the exploration of the
Property, or for the purpose of placing the Property into production or continuing production therefrom;

	
	 	 	 	 
		
(g) 		
"Royalty" means a royalty of 1% of net smelter returns up to a total payment of $2.0 million payable to Northern Tiger, as more particularly set out in the Northern Tiger Agreement in Schedule D;

	
	 	 	 	 
		
(h) 		
"Shares" means the common shares in the capital of the Optionee, as constituted on the date hereof, to be issued to the Optionor pursuant to the exercise of the Option;

	
	 	 	 	 
		
(i) 		
“Timber Wolf Agreement” shall mean the Agreement set out in Schedule E;

	
	 	 	 	 
	
2. 		
REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE OPTIONOR.

	
	 	 	 	 
		
(a) 		
The Optionor represents and warrants to and covenants with the Optionee, with the knowledge that the Optionee relies upon same in entering into this Agreement, that:

	
	 	 	 	 
			
(i) 		
it has been duly formed and validly exists in good standing with respect to the filing of annual reports under the laws of its jurisdiction of formation;

	
	 	 	 	 
			
(ii) 		
no proceedings are pending for, and it is unaware of any basis for the institution of any proceedings leading to, its dissolution or winding up or being placed into bankruptcy;

	

 

3

	
 	
 	
(iii) 		
it has all requisite power and capacity, and has duly obtained all requisite authorizations and performed all requisite acts, to enter into and perform its obligations hereunder, it has duly executed and delivered this Agreement
and such constitutes a legal, valid and binding obligation of it enforceable against it in accordance with the Agreement's terms, and the entering into of this Agreement and the performance of its obligations hereunder does not and will not result
in a breach of, default under or conflict with any of the terms and provisions of any of its constituting documents, any resolutions of its partners, any indenture, agreement or other instrument to which it is a party or by which it is bound or the
Property may be subject, or any statute, order, judgment or other law or ruling of any competent authority;

	
	 	 	 	 
	
 	
 	
(iv) 		
it is legally entitled to hold the Property and the Property Rights and will remain so entitled until and always to the extent such is required for the due transfer to the Optionee of its requisite interest in and to the Property
pursuant to and upon the exercise of the Option, subject to the Optionee keeping the claims in good standing as set out in Section 7(a) of this Agreement and subject to the Optionee keeping the Wildhorse and Underlying agreements in good
standing.

	
	 	 	 	 
	
 	
 	
(v) 		
subject to the Optionee keeping this Agreement and the underlying agreements in good standing, it is, and at the time of each transfer to the Optionee of an interest in and to the Property pursuant to and upon the exercise of the
Option it will be, the beneficial owner of all right, title and interest in and to such transferred interest, free and clear of all liens, charges, claims, liabilities and adverse interests of any nature or kind, subject only to the Schedule D
Royalty;

	
	 	 	 	 
	
 	
 	
(vi) 		
the Northern Tiger Agreement has been duly and validly entered into by the Optionor pursuant to the laws of the jurisdiction in which such agreement is governed and is in good standing; the Timber Wolf Agreement has been duly and
validly entered into by the Optionor pursuant to the laws of the jurisdiction in which such agreement is governed and is in good standing;

	
	 	 	 	 
	
 	
 	
(vii) 		
to the knowledge of the Optionor there are neither any adverse claims or challenges against, or to the ownership or title to, any of the mineral claims comprising the Property or to the validity or enforceability of any of the
mineral agreements in respect thereof, nor to the knowledge of the Optionor after due inquiry is there any basis therefor, and there are no outstanding agreements, options or other rights and interests to acquire or purchase the Property or any
portion thereof or any interest therein, and no person has any royalty or other interest whatsoever in the production from any of the mineral claims comprising the Property or otherwise except as disclosed in this Agreement;

	
	 	 	 	 
	
 	
 	
(viii) 		
to the knowledge of the Optionor it has the right to use the surface to the extent necessary subject to the overriding mining laws in effect in respect of the Property which are necessary or desirable to conduct the exploration
and development thereof, including but not limited to the activities contemplated in Section 6 hereof;

	
	 	 	 	 
	
 	
 	
(ix) 		
no third party consent of any kind is required by the Optionor to enter into this Agreement and grant the Option contemplated hereby;

	
	 	 	 	 
	
 	
 	
(x) 		
the Optionor has not conducted any work on the Property that was not in accordance with all applicable environmental laws, orders and rulings;

	

 

4

	
 	
 	
(xi) 		
any Shares issued to the Optionor have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any State securities laws, and may not be offered and sold, directly or
indirectly, in the United States or by or to or for the account or benefit of a U.S. Person (as defined in Regulation S ("Regulation S") promulgated under the 1933 Act) without registration under the 1933 Act and any applicable State securities
laws, unless an exemption from registration is available;

	
	 	 	 	 
	
 	
 	
(xii) 		
the Optionee has no present intention and is not obligated under any circumstances to register the Shares, or to take any other actions to facilitate or permit any proposed resale or transfer thereof in the United States or
otherwise by or to or for the account or benefit of a U.S. Person, and in particular, the Optionor and the Optionee further acknowledge and agree that the Optionee is hereby required to refuse to register any transfer of the Securities not made in
accordance with the provisions of Regulation S, pursuant to registration under the 1933 Act, or pursuant to an available exemption from registration;

	
	 	 	 	 
	
 	
 	
(xiii) 		
in the event that any of the Shares are subject to a hold period or any other restrictions on resale and transferability, the Optionee will place a legend on the certificates representing the Securities as are required under
Securities Act (British Columbia), the Canadian National Stock Exchange or as otherwise required by applicable regulatory authorities;

	
	 	 	 	 
	
 	
 	
(xiv) 		
the Optionor acknowledges and agrees that the Shares will be issued pursuant to pursuant to exemptions (the "Exemptions") from the registration and prospectus requirements of applicable securities laws. The Shares will be
subject to a number of resale restrictions, including a restriction on trading. Until the restriction on trading expires, the Optionor will not be able to trade the Shares unless the Optionor complies with an exemption from the prospectus and
registration requirements under applicable securities laws. The Optionor acknowledges and agrees that the Optionor will be receiving the Shares as Principal and that the Shares are being issued pursuant to the Exemption provided for in Section 2.13
(Petroleum, Natural Gas and Mining Properties) of National Instrument 45-106 – Prospectus and Registration Exemptions.

	

	
 	
(b) 		
The representations and warranties contained in this section are provided for the exclusive benefit of the Optionee, and a breach of any one or more thereof may be waived by the Optionee in whole or in part at any time without
prejudice to its rights in respect of any other breach of the same or any other representation or warranty, and the representations and warranties contained in this section shall survive the execution and performance of this Agreement and of any
transfers, assignments, deeds or further documents or acts of the parties respecting the Property.

	

	
3. 		
REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE OPTIONEE.

	
	 	 	 	 
		
(a) 		
The Optionee represents and warrants to and covenants with the Optionor, with the knowledge that the Optionor relies upon same in entering into this Agreement, that:

	
	 	 	 	 
			
(i) 		
it has been duly incorporated, amalgamated or continued and validly exists as a corporation in good standing with respect to the filing of annual reports under the laws of its jurisdiction of incorporation, amalgamation or
continuation;

	

 

5

	
 	
 	
(ii) 		
no proceedings are pending for, and it is unaware of any basis for the institution of any proceedings leading to, its dissolution or winding up or being placed into bankruptcy or subject to any other laws governing the affairs of
insolvent corporations;

	
	 	 	 	 
	
 	
 	
(iii) 		
it has all requisite corporate power and capacity, and has duly obtained all requisite corporate authorizations and performed all requisite corporate acts, to enter into and perform its obligations hereunder, it has duly executed
and delivered this Agreement and such constitutes a legal, valid and binding obligation of it enforceable against it in accordance with the Agreement's terms, and the entering into of this Agreement and the performance of its obligations hereunder
does not and will not result in a breach of, default under or conflict with any of the terms and provisions of any of its constituting documents, any resolutions of its shareholders or directors, any indenture, agreement or other instrument to which
it is a party or by which it is bound or the Property may be subject, or any statute, order, judgment or other law or ruling of any competent authority applicable to it; and

	
	 	 	 	 
	
 	
 	
(iv) 		
it is lawfully authorized to hold mineral claims and real property under the laws of the jurisdiction in which the Property is situate.

	

	
 	
(b) 		
The representations and warranties contained in this section are provided for the exclusive benefit of the Optionor, and a breach of any one or more thereof may be waived by the Optionor in whole or in part at any time without
prejudice to its rights in respect of any other breach of the same or any other representation or warranty, and the representations and warranties contained in this section shall survive the execution hereof.

	

	
4. 		
GRANT AND EXERCISE OF OPTION.

	
	 	 	 	 
		
(a) 		
The Optionor hereby grants to the Optionee the sole and exclusive right and option to acquire up to an undivided 100% right, title and interest in and to the Property, free and clear of all charges, encumbrances, claims,
liabilities and adverse interests of any nature or kind, except for the Royalty.

	
	 	 	 	 
		
(b) 		
The Option shall be in good standing and exercisable by the Optionee by paying the following amounts on or before the dates specified in the following schedule:

	
	 	 	 	 
			
(i) 		
paying the Optionor $7,500 on signing the letter of intent (paid),

	
	 	 	 	 
			
(ii) 		
paying the Optionor $51,150 on or before the execution of this Agreement and issuing to the Optionor 500,000 common shares in the capital stock of the Optionee as soon as practicable following the execution of this
Agreement,

	
	 	 	 	 
			
(iii) 		
issuing to the Optionor 150,000 shares in the capital stock of the Optionee on or before the first anniversary of this Agreement,

	
	 	 	 	 
			
(iv) 		
issuing to the Optionor 150,000 shares in the capital stock of the Optionee on or before the second anniversary of the Agreement, and

	
	 	 	 	 
			
(v) 		
issuing to the Optionor 200,000 shares in the capital stock of the Optionee on or before the third anniversary of the Agreement.

	

 

6

	
 	
(c) 		
The Optionee shall also pay Timber Wolf the following amounts on or before the dates specified in the following schedule, with such amounts and terms as further described in the Timber Wolf Agreement:

	
	 	 	 	 
	 		
(i) 		
paying $3,000 on signing of this Agreement,

	
	 	 	 	 
	 		
(ii) 		
paying an additional $7,500 on or before the first anniversary of the Agreement,

	
	 	 	 	 
	 		
(iii) 		
paying an additional $10,000 on or before the second anniversary of the Agreement,

	
	 	 	 	 
	 		
(iv) 		
paying an additional $12,500 on or before the third anniversary of the Agreement,

	
	 	 	 	 
	 		
(v) 		
paying an additional $25,000 on or before the fourth anniversary of the Agreement,

	
	 	 	 	 
	 		
(vi) 		
paying an additional $25,000 on or before the fifth anniversary of the Agreement,

	
	 	 	 	 
	 		
(vii) 		
paying an additional $50,000 on or before the sixth anniversary of the Agreement,

	
	 	 	 	 
	 		
(viii) 		
paying an additional $200,000 on or before the seventh anniversary of the Agreement,

	
	 	 	 	 
	 		
(ix) 		
paying an additional $200,000 on or before the eighth anniversary of the Agreement.

	
	 	 	 	 
	
 	
(d) 		
The Optionor acknowledges and agrees that the Shares will be subject to hold periods and restrictions on resale in accordance with applicable securities laws.

	
	 	 	 	 
	
 	
(e) 		
All payments made pursuant to Section 4(b) shall be mad by check or wire transfer delivered to the Escrow Agent or to any single depository as the Optionor may instruct. Upon making payment to the Escrow Agent or depository, the
Optionee shall be relieved of any responsibility for such payment to the Optionor.

	

	
5. 		
CONVEYANCE AND ESCROW INSTRUCTIONS

	
	 	 	 	 
		
(a) 		
Escrow Instructions

	
	 	 	 	 
			
(i) 		
When executed and delivered, this Agreement will constitute the joint instructions of the Optionor and the Optionee to the Escrow Agent, which shall act as their independent escrow agent to receive, disburse, file, record and
deliver all funds and documents in connection with the sale and purchase of the Property pursuant to this Agreement.

	
	 	 	 	 
			
(ii) 		
By executing this Agreement the Optionor hereby grants to the Optionee the sole and exclusive right to purchase the Property from the Optionor, which right shall grant possession of the Property exclusively to the Optionee, its
successors and assigns. During the term of the Agreement, the Optionee shall have the right to conduct all activities related to the mineral exploration, development and mining of the Property, subject to the terms of this Agreement.

	
	 	 	 	 
		
(b) 		
Opening of Escrow; Earnest Money

	

 

7

	
 	
 	
(i) 		
Within two (2) business days after the execution of this Agreement by both the Optionor and the Optionee, three (3) executed copies of this Agreement (or counterparts thereof) shall be deposited with Escrow Agent. Escrow Agent
shall execute the acceptance on three (3) counterparts, substituting original signature pages as required, retain one (1) fully executed counterpart, and return fully executed counterparts to the Optionor and the Optionee. Escrow shall be opened
when (i) Escrow Agent accepts this Agreement, and (ii) the Optionee deposits the Earnest Money with Escrow Agent (the “Opening of Escrow”).

	

	
 	
(c) 		
Items to Be Delivered by the Optionor at Opening of Escrow. At or prior to the Opening of Escrow, the Optionor shall deliver or cause to be delivered to the Escrow Agent:

	
	 	 	 	 
	 		
(i) 		
A fully executed Deed to Unpatented Mining Claims in the form attached hereto as Schedule F for the Property; and

	
	 	 	 	 
	 		
(ii) 		
Any affidavit or disclosure statement or certification as may be required under the laws of the State of New Mexico for the conveyance of the Property.

	
	 	 	 	 
	
 	
(d) 		
Items to Be Delivered by the Optionee at Opening of Escrow. At or prior to the Opening of Escrow, the Optionee, at its sole cost and expense, shall deliver, or cause to be delivered to the Escrow Agent:

	
	 	 	 	 
	 		
(i) 		
Any affidavit or disclosure statement or certification as may be required under the laws of the State of New Mexico for the conveyance of the Property; and

	
	 	 	 	 
	 		
(ii) 		
The initial payments due under this Agreement.

	
	 	 	 	 
	
 	
(e) 		
Change of Escrow Agent. The parties agree that W. Scott Donaldson is the initial Escrow Agent, and that the Optionee has the unilateral authority to change the Escrow Agent providing the new Escrow Agent agrees in writing
to abide by the terms of this Agreement.

	
	 	 	 	 
	
 	
(f) 		
Close of Escrow and Delivery of Title.

	
	 	 	 	 
	 		
(i) 		
Close of Escrow. The closing of the escrow with respect to the conveyance of the Property (the “Close of Escrow”) shall occur upon the Optionee completing payment to the Optionor the payments described in Section
4(b) above. If the date for the Close of Escrow is not a business day for the Escrow Agent or the County Recorder of the county in which the Property is located, then the Close of Escrow shall occur on the first business day thereafter. The Close of
Escrow shall occur at the office of Escrow Agent or at such other location as the parties may agree. The Optionee shall have the right to close prior to the Closing Deadline upon providing the Optionor and Escrow Agent with not less than ten (10)
days prior written notice and payment of the full purchase price.

	
	 	 	 	 
	 		
(ii) 		
Delivery of Title. Escrow Agent, upon receiving full payment of the balance due under Section 4(b), shall deliver to the Optionee, or its heirs or assigns, the executed deed described in Section 5(b) above.

	
	 	 	 	 
	
 	
(g) 		
The transfer of the Timber Wolf Concessions shall be governed by the Timber Wolf Agreement.

	

	
6. 		
RIGHT OF ENTRY. Throughout the Option Period, the Optionee and its directors, officers, employees, servants, agents and independent contractors, shall have the sole and exclusive right in respect of the Property to:

	

 

8

	
 	
(a) 		
enter thereon;

	
	 	 	 
	
 	
(b) 		
have exclusive and quiet possession thereof;

	
	 	 	 
	
 	
(c) 		
do such prospecting, exploration, development and other mining work thereon and thereunder as the Optionee in its sole discretion may determine advisable;

	
	 	 	 
	
 	
(d) 		
bring upon and erect upon the Property such buildings, plant, machinery and equipment as the Optionee may deem advisable; and

	
	 	 	 
	
 	
(e) 		
remove therefrom and dispose of reasonable quantities of ores, minerals and metals for the purposes of obtaining assays or making other tests.

	

	
7. 		
OBLIGATIONS OF THE OPTIONEE DURING OPTION PERIOD. During the Option Period, the Optionee shall:

	
	 	 	 
		
(a) 		
maintain in good standing those mineral claims comprising the Property by the doing and filing of assessment work or the making of payments in lieu thereof, by the payment of taxes and rentals, and the performance of all other
actions which may be necessary in that regard and in order to keep such mineral claims free and clear of all liens and other charges arising from the Optionees activities thereon except those at the time contested in good faith by the Optionee;

	
	 	 	 
		
(b) 		
keep the Mining Claims in good standing by making payments to the Bureau of Land Management ("BLM") and to Socorro County on or before August 31 of each year during the currency hereof and by the doing of all other acts and things
and making all other payments which may be necessary in these regards, including, but not limited to, any payments or acts required by the BLM and the State of New Mexico;

	
	 	 	 
		
(c) 		
keep the Agreement and the underlying agreements in good standing during the Option Period;

	
	 	 	 
		
(d) 		
permit the partners, employees and designated consultants of the Optionor, at their own risk and expense, access to the Property at all reasonable times, and the Optionor agrees to indemnify the Optionee against and to save it
harmless from all costs, claims, liabilities and expenses that the Optionee may incur or suffer as a result of any injury (including injury causing death) to any partner, employee or designated consultant of the Optionor while on the Property;

	
	 	 	 
		
(e) 		
do all work on the Property in a good and workmanlike fashion and in accordance with all applicable laws, regulations, orders and ordinances of any governmental authority;

	
	 	 	 
		
(f) 		
indemnify and save the Optionor harmless in respect of any and all costs, claims, liabilities and expenses arising out of the Optionees activities on the Property, but the Optionee shall incur no obligation hereunder in respect of
any such costs, claims, liabilities and expenses arising or damages suffered after termination of the Option if upon termination of the Option any workings on or improvements to the Property made by the Optionee are left in a safe condition and in
full compliance with requirements of all environmental laws and regulations;

	
	 	 	 
		
(g) 		
permit the Optionor, at its own expense, reasonable access to the Property as long as this agreement is in effect;

	
	 	 	 
		
(h) 		
Optionee shall provide and maintain comprehensive general liability insurance against claims for personal injury, including, without limitation, bodily injury, death or property damage occurring on, in or about the Property, of a
limit of not less than Three Million Dollars ($3,000,000.00). The Optionee shall provide to the Optionor a certificate of insurance. The Optionor will be added as an additional insured to the policy.

	

 

9

	
 	
(i) 		
deliver to the Optionor, forthwith upon receipt thereof, copies of all reports, maps, assay results and other technical data compiled by or prepared at the direction of the Optionee with respect to the Property.

	

The Optionor acknowledges and agrees that all technical and other information concerning the Property provided by the Optionee to it, directly or indirectly, shall be treated as confidential information, and it shall not copy, transmit or otherwise
disclose, disseminate or use such information, including but not limited to use in violation of insider trading and other provisions of applicable securities laws, without the express written consent of the Optionee, except for information news
released or made public in another manner by the Optionee prior to release by the Optionor. 

	
8. 		
TERMINATION OF OPTION.

	
	 	 	 	 
		
(a) 		
The Option shall terminate:

	
	 	 	 	 
			
(i) 		
subject to paragraph 15 hereof, upon the Optionee failing to make any payment or issuance of Shares which must be made or issued in exercise of the Option;

	
	 	 	 	 
			
(ii) 		
subject to paragraph 15 hereof, upon the Optionee failing to remedy a default as provided therein; or

	
	 	 	 	 
			
(iii) 		
at any other time, by the Optionee giving a minimum of ninety (90) days notice of such termination to the Optionor. In the event that the Optionee provides such notice less than ninety (90) days prior to August 31st of any year,
the Optionee shall pay all claim maintenance fees and lease payments for such year.

	
	 	 	 	 
		
(b) 		
If the Option is terminated otherwise than upon the exercise thereof, the Optionee shall:

	
	 	 	 	 
			
(i) 		
leave in good standing, for a period of at least 12 months from the termination of the Option Period, those mineral claims comprising the Property, to the extent allowable by the laws of the jurisdiction in which the Property is
situate;

	
	 	 	 	 
			
(ii) 		
deliver or make available at no cost to the Optionor, within 90 days of such termination, all drill core, RC hole chip trays, copies of all reports, maps, assay results and other relevant technical data compiled by, prepared at
the direction of, or in the possession of the Optionee with respect to the Property and not theretofore furnished or made available to the Optionor;

	
	 	 	 	 
			
(iii) 		
reclaim the Property in accordance with the requirements of all applicable environmental laws and regulations, but only to the extent that such requirements result from the Optionees activities on the Property hereunder.

	
	 	 	 	 
		
(c) 		
If the Option is terminated otherwise than upon the exercise thereof, the Optionee shall have the right, within a period of 180 days following the end of the Option Period, to remove from the Property all buildings, plant,
equipment, machinery, tools, appliances and supplies which have been brought upon the Property by or on behalf of the Optionee, and any such property not removed within such 180 day period shall thereafter become the property of the Optionor.

	
	 	 	 	 
	
9. 		
POWER TO CHARGE PROPERTY. The Optionor shall not grant or permit to exist any liens, charges or mortgages (collectively referred to as an "encumbrance") upon the property or any portion thereof. At any time after the Optionee has
exercised the Option, in whole or in part, the Optionee may grant encumbrances upon the Property or any portion thereof, upon any mill or other fixed assets located thereon, and upon any or all of the tangible personal property located on or used in
connection with the Property, to secure financing for the development of the Property, always provided that, unless otherwise
agreed to by the Optionor, it shall be a term of each encumbrance that the encumbrancee or other person acquiring title to the Property upon enforcement of the encumbrance shall hold the same subject to the Royalty as if the encumbrancee or such
other person had executed this Agreement.

	

 

10

	
10. 		
TRANSFERS. The Optionee may at any time either during the Option Period or thereafter, sell, transfer or otherwise dispose of all or any portion of its interest in and to the Property and this Agreement provided that any
purchaser, transferee or recipient of any such interest shall have first delivered to the Optionor a written agreement to be bound by the terms of this Agreement.

	
	 	 	 
	
11. 		
SURRENDER OF PROPERTY INTERESTS PRIOR TO TERMINATION OF AGREEMENT. The Optionee may at any time during the Option Period elect to abandon any one or more of the mineral claims comprised in the Property by giving notice to the
Optionor of such intention. Any claims so abandoned shall be in good standing under the laws of the jurisdiction in which they are situate for at least 12 months from the date of abandonment. Upon any such abandonment, the mineral claims so
abandoned shall for all purposes of this Agreement cease to form part of the Property and, if title to such claims has been transferred to the Optionee, the Optionee shall retransfer such title to the Optionor at the Optionees expense.

	
	 	 	 
	
12. 		
FORCE MAJEURE.

	
	 	 	 
		
(a) 		
If the Optionee is at any time either during the Option Period or thereafter prevented or delayed in complying with any provisions of this Agreement by reason of strikes, lock-outs, labour shortages, power shortages, fuel
shortages, fires, wars, acts of God, governmental regulations restricting normal operations, shipping delays or any other reason or reasons, other than lack of funds, beyond the control of the Optionee, the time limited for the performance by the
Optionee of its obligations hereunder shall be extended by a period of time equal in length to the period of each such prevention or delay except where in violation of the underlying agreements, but nothing herein shall discharge the Optionee from
its obligations hereunder to maintain the Property in good standing;

	
	 	 	 
		
(b) 		
The Optionee shall give prompt notice to the Optionor of each event of force majeure and upon cessation of such event shall furnish to the Optionor with notice to that effect together with particulars of the number of days by
which the obligations of the Optionee hereunder have been extended by virtue of such event of force majeure and all preceding events of force majeure.

	
	 	 	 
	
13. 		
CONFIDENTIAL INFORMATION. No information furnished by the Optionee to the Optionor hereunder in respect of the activities carried out on the Property by the Optionee, or related to the sale of minerals, ore, bullion or other
product derived from the Property, shall be published or disclosed by the Optionor without the prior written consent of the Optionee, but such consent in respect of the reporting of factual data shall not be unreasonably withheld, and shall not be
withheld in respect of information required to be publicly disclosed pursuant to applicable securities or corporation laws, regulations or policies. Where such information has been news released or put into the public domain in some other manner by
the Optionee no such approval is necessary either prior to or following disclosure by the Optionor.

	
	 	 	 
	
14. 		
ARBITRATION.

	
	 	 	 
		
(a) 		
All questions or matters in dispute under this Agreement shall be submitted to arbitration pursuant to the terms hereof.

	
	 	 	 
		
(b) 		
It shall be a condition precedent to the right of any party to submit any matter to arbitration pursuant to the provisions hereof, that any party intending to refer any matter to arbitration shall have given not less than 30 days'
prior notice of its intention to do so to the other party, together with particulars of the matter in dispute. On the expiration of such 30 days, the party who gave such notice may proceed to refer the dispute to arbitration as provided in paragraph
(c).

	

 

11

	
 	
(c) 		
The party desiring arbitration shall appoint one arbitrator, and shall notify the other party of such appointment, and the other party shall, within 30 days after receiving such notice, either consent to the appointment of such
arbitrator which shall then carry out the arbitration or appoint an arbitrator, and the two arbitrators so named, before proceeding to act, shall, within 30 days of the appointment of the last appointed arbitrator, unanimously agree on the
appointment of a third arbitrator to act with them and be chairman of the arbitration herein provided for. If the other party shall fail to appoint an arbitrator within 30 days after receiving notice of the appointment of the first arbitrator, the
first arbitrator shall be the only arbitrator. If the two arbitrators appointed by the parties shall be unable to agree on the appointment of the chairman, the chairman shall be appointed under the provisions of the Commercial Arbitration Act
of British Columbia. Except as specifically otherwise provided in this section, the arbitration herein provided for shall be conducted in accordance with such Act. The chairman, or in the case where only one arbitrator is appointed, the single
arbitrator, shall fix a time and place in Vancouver, British Columbia, for the purpose of hearing the evidence and representations of the parties, and he shall preside over the arbitration and determine all questions of procedure not provided for
under such Act or this section. After hearing any evidence and representations that the parties may submit, the single arbitrator, or the arbitrators, as the case may be, shall make an award and reduce the same to writing, and deliver one copy
thereof to each of the parties. The expense of the arbitration shall be paid as specified in the award.

	
	 	 	 
	
 	
(d) 		
The parties agree that the award of a majority of the arbitrators, or in the case of a single arbitrator, of such arbitrator, shall be final and binding upon each of them.

	

	
15. 		
DEFAULT. If at any time during the Option Period, the Optionee is in default of any material provision in this Agreement, the Optionor may terminate this Agreement, but only if:

	
	 	 	 
		
(a) 		
it shall have first given to the Optionee a notice of default containing particulars of the obligation which the Optionee has not performed, or the warranty breached; and

	
	 	 	 
		
(b) 		
the Optionee has not, within 60 days following delivery of such notice of default, cured such default or commenced proceedings to cure such default by appropriate payment or performance, the Optionee hereby agreeing that should it
so commence to cure any default it will prosecute the same to completion without undue delay.

	
	 	 	 
		
Should the Optionee fail to comply with the provision of subparagraph (b), the Optionor may thereafter terminate this Agreement by giving notice thereof to the Optionee, always provided that the default in question has not been
cured or substantially cured at the time of the Optionee giving such notice of termination.

	
	 	 	 
	
16. 		
NOTICES. Each notice, demand or other communication required or permitted to be given under this Agreement shall be in writing and shall be delivered or telecopied to such party at the address for such party specified above. The
date of receipt of such notice, demand or other communication shall be the date of delivery thereof if delivered or, if given by telecopier (with electronic confirmed receipt), shall be deemed conclusively to be the next business day. Either party
may at any time and from time to time notify the other party in writing of a change of address and the new address to which notice shall be given to it thereafter until further change.

	
	 	 	 
	
17. 		
GENERAL.

	
	 	 	 
		
(a) 		
This Agreement shall supersede and replace any other agreement or arrangement, whether oral or written, heretofore existing between the parties in respect of the subject matter of this Agreement.

	

 

12

	
 	
(b) 		
No consent or waiver expressed or implied by either party in respect of any breach or default by the other in the performance by such other of its obligations hereunder shall be deemed or construed to be a consent to or a waiver
of any other breach or default.

	
	 	 	 
	
 	
(c) 		
The parties shall promptly execute or cause to be executed all documents, deeds, conveyances and other instruments of further assurance and do such further and other acts which may be reasonably necessary or advisable to carry out
fully the intent of this Agreement or to record wherever appropriate the respective interest from time to time of the parties in the Property.

	
	 	 	 
	
 	
(d) 		
This Agreement shall enure to the benefit of and be binding upon the parties and their respective successors and permitted assigns.

	
	 	 	 
	
 	
(e) 		
This Agreement shall be governed by and construed in accordance with the laws of British Columbia.

	
	 	 	 
	
 	
(f) 		
Time shall be of the essence in this Agreement.

	
	 	 	 
	
 	
(g) 		
Wherever the neuter and singular is used in this Agreement it shall be deemed to include the plural, masculine and feminine, as the case may be.

	

IN WITNESS WHEREOF the parties hereto have executed this Agreement as of the day and year first above written.

SIGNED AND DELIVERED BY

Wildhorse Copper (AZ) Inc.

Per: _____________________

           
Authorized Signatory

SIGNED AND DELIVERED BY

Wildhorse Copper Inc.

Per: _____________________

           
Authorized Signatory

Per: _____________________

           
Authorized Signatory

SIGNED AND DELIVERED BY

Enertopia Corporation 

Per: _____________________

           
Authorized Signatory

 

Per: _____________________

           
Authorized Signatory

	 	 	 
	  	SCHEDULE "A" 	 
	 	 	 
	  	Wildhorse Concessions
	 
	 	 	 
	Claim
      Name 	Socorro County, New Mexico 
Instrument Number
    	BLM NMMC No. 
	WILDHORSE 1 	201100729 	 
	WILDHORSE
      2 	201100730 	 
	WILDHORSE 3 	201100731 	 
	WILDHORSE
      4 	201100732 	 
	WILDHORSE 5 	201100733 	 
	WILDHORSE
      6 	201100734 	 
	WILDHORSE 7 	201100735 	 
	WILDHORSE
      8 	201100736 	 
	WILDHORSE 9 	201100737 	 
	WILDHORSE
      10 	201100738 	 
	WILDHORSE 11 	201100739 	 
	WILDHORSE
      12 	201100740 	 
	WILDHORSE 13 	201100741 	 
	WILDHORSE
      14 	201100742 	 
	WILDHORSE 15 	201100743 	 
	WILDHORSE
      21 	201100749 	 
	WILDHORSE 22 	201100750 	 
	WILDHORSE
      23 	201100751 	 
	WILDHORSE 24 	201100752 	 
	WILDHORSE
      30 	201100758 	 
	WILDHORSE 31 	201100759 	 
	WILDHORSE
      32 	201100760 	 
	WILDHORSE 33 	201100761 	 
	WILDHORSE
      34 	201100762 	 
	WILDHORSE 35 	201100763 	 
	WILDHORSE
      36 	201100764 	 
	WILDHORSE 37 	201100765 	 
	WILDHORSE
      38 	201100766 	 
	WILDHORSE 39 	201100767 	 
	WILDHORSE
      40 	201100768 	 
	WILDHORSE 41 	201100769 	 
	WILDHORSE
      42 	201100770 	 
	WILDHORSE 43 	201100771 	 
	WILDHORSE
      44 	 201100772 	 
	WILDHORSE 45 	201100773 	 
	WILDHORSE
      46 	201100774 	 

2 

	Claim
      Name 	Socorro County, New Mexico
      
Instrument Number 	BLM NMMC No. 
	WILDHORSE 47 	201100775 	 
	WILDHORSE
      48 	201100776 	 
	WILDHORSE 49 	201100777 	 
	WILDHORSE
      50 	201100778 	 
	WILDHORSE 51 	201100779 	 
	WILDHORSE
      52 	201100780 	 
	WILDHORSE 53 	201100781 	 
	WILDHORSE
      54 	201100782 	 
	WILDHORSE 55 	201100783 	 

SCHEDULE "B" 

Timber Wolf Concessions 

	Claim
      Name 	Socorro County, New Mexico 
Instrument
    Number 	BLM NMMC No. 
	TIMBERWOLF 16 	201100744 	 
	TIMBERWOLF 17 	201100745 	 
	TIMBERWOLF 18 	201100746 	 
	TIMBERWOLF 19 	201100747 	 
	TIMBERWOLF 20 	201100748 	 
	TIMBERWOLF 25 	201100753 	 
	TIMBERWOLF 26 	201100754 	 
	TIMBERWOLF 27 	201100755 	 
	TIMBERWOLF 28 	201100756 	 
	TIMBERWOLF 29 	201100757 	 

	 SCHEDULE "C"  
	 
	 Wildhorse Copper Hills #1 mining
      claim Concession  
	 
	Claim Name 	  Socorro County, New
      Mexico  	BLM NMMC No. 
	 	Instrument Number   	 
	COPPER HILLS #1 	Book 503, Page 3660 	169266 

SCHEDULE "D" 

Northern Tiger Agreement

 

 

 

 

 

 

SCHEDULE "E" 

Timber Wolf Agreement

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00187-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00187-of-00352.parquet"}]]