Document:

EXHIBIT
10.2

     

    EMPLOYMENT
AGREEMENT

     

    This
Employment Agreement (this “Agreement”), between Standard Gold, Inc., a Colorado
corporation (the “Company”), and Stephen E.
Flechner, a Colorado resident (the “Executive”) is entered into
effective April 1, 2010 (the “Effective Date”).

     

    INTRODUCTION

     

    The
Company desires to employ Executive, and Executive desires to be employed by the
Company as the Company’s President pursuant to the terms of this
Agreement.

     

    AGREEMENT

     

    NOW,
THEREFORE, in consideration of the foregoing, and for other good and valuable
consideration the receipt and sufficiency of which is hereby acknowledged, the
Company and Executive, each intending to be legally bound, hereby agree as
follows:

     

    1.  Employment.  Subject
to all of the terms of this Agreement, the Company hereby agrees to employ
Executive, and Executive hereby accepts such employment as President and agrees
to serve the Company with undivided loyalty and to the best of his
ability.

     

    2.  Term.

     

    (a)  Initial
Term.  The “Initial Term” of the
Executive’s employment shall commence on the Effective Date and shall continue
for a period of twelve (12) consecutive calendar months as an at-will employment
relationship or until the date the Executive’s employment terminates pursuant to
Section 10 hereof.

     

    (b)  Additional
Term.  After the Initial Term, and unless Executive’s
employment has been terminated pursuant to Section 10 or either party has
provided to the other party 30-days’ written notice prior to the end of the
Initial Term or any Additional Term that such party does not wish to extend the
Agreement, the term of this Agreement shall be renewed automatically for
successive one-year terms (each an “Additional Term”, and
collectively with the Initial Term, the “Term”).

     

    3.  Duties.  Executive
shall serve as the Company’s President and shall report to and perform, subject
to the direction of the Company’s Board of Directors (the “Board”) and Chief Executive
Officer (the “CEO”), duties that are usual, customary and in a manner reasonably
expected of a President (including attending meetings of the Board of Directors)
and as otherwise may be directed by the Board from time to time. It is
specifically understood and agreed that Executive may continue his limited part
time consulting for Cronus Resources Ltd (CZR on TSXv as Director re gold in
Columbia), Eureka Properties LLC (private investment in rural Utah land),
Oriental Minerals Inc (OTL on TSXv re tungsten/moly/gold in Korea), and Wits
Basin Precious Metals Inc. or undertake new part-time directorships, provided
that (i) such endeavors shall not interfere with the terms of this Agreement,
including without limitation Sections 7 and 8 and (ii) Executive shall provide
the Company prior written notice of any directorships Executive intends to
accept during the Term.

     

    4.  Compensation.  During
the Term, the Executive shall receive the following (collectively, the “Compensation”):

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    (a)  Base
Salary.  In consideration for Executive’s services under this
Agreement, the Company hereby agrees to pay Executive base compensation of
$10,000 per month (the “Base
Salary”) (or prorated for ay lesser portion of a month), payable in
advance on the first day of each month during the Term hereof commencing April
1, 2010.

     

    (b)  Bonus.  Subject
to the discretion of the Compensation Committee of the Board, Executive shall be
eligible to receive an annual bonus (the “Bonus”) based upon his
performance on behalf of the Company during any calendar year during the Term,
such Bonus payable within 90 days following the end of such calendar
year.  The Bonus, if any is declared, shall be payable by the Company
in the form of cash or through the issuance of stock, as determined by the
Company in its sole discretion.

     

    (c)  Options.  Subject
to the approval of the Board, the Company shall grant Executive a ten-year
option to purchase up to 800,000 shares of the Company’s common stock (the
“Option”), at an
exercise price equal to the Fair Market Value of the Company’s stock on the OTC
Bulletin Board on the date of grant.  The Option shall vest ratably in
three equal annual installments commencing on the date of grant and then on each
of the first and second annual anniversaries thereof, subject to acceleration
(i) at such time as the Fair Market Value of the Company’s stock remains above
$3 for 30 consecutive days, (ii) upon Executive’s death, (iii) upon a
Change of Control of the Company, or (iv) upon the Company’s termination of
Executive for any reason other than Cause (as defined in Section
10(b)).  The Option shall further include other standard terms as set
forth in a stock option agreement to be entered into by Executive and the
Company.  For purposes of this Agreement, “Fair Market Value” shall mean:
(i) if the Company’s common stock is listed on an exchange or quoted on an
over-the-counter market (including the OTC Bulletin Board), the closing price of
such common stock on such date; or (ii) if the Company’s common stock is
not listed on an exchange or quoted on an over-the-counter market, the fair
market value of such common stock as determined by the Board, acting in good
faith utilizing customary business valuation criteria and methodologies (without
discount for lack of marketability or minority interest).  For
purposes of this Agreement, “Change of Control” shall mean
(i) the acquisition, directly or indirectly, following the date hereof by any
person, in one transaction or a series of related transactions, of securities of
the Company representing in excess of 50% or more of the combined voting power
of the Company’s then outstanding securities if such person or his or its
affiliates do not own in excess of 50% of such voting power on the date of this
Agreement, or (ii) the future disposition by the Company, whether direct or
indirect, by sale of assets or stock, merger, consolidation or otherwise, of all
or substantially all of the Company’s business and/or assets in one transaction
or series of related transactions (other than a merger effected exclusively for
the purpose of changing the domicile of the Company).

     

    5.  Benefits.  During
the Term, Executive shall be entitled to the employee benefits as provided by
the Company (the “Benefits”). The Company
reserves the right, in its sole discretion, to alter the terms of such benefits
at any time and from time to time.

     

    6.  Reimbursement.  The
Company shall reimburse Executive for reasonable out-of-pocket business expenses
incurred by Executive (“Expenses”) on the Company’s
behalf or in relation to performance of his duties, including but not limited to
expenses for travel, lodging, meals, materials, blackberry, long distance phone
charges, fedex, and supplies.  Notwithstanding the foregoing,
Executive must provide the Company receipts for such Expenses and properly
account to the Company all such Expenses in accordance with the rules and
regulations of the Internal Revenue Service under the Internal Revenue Code of
1986, as amended, and in accordance with any standard policies of the Company
relating to reimbursement of Expenses as such policies exist or may be
implemented in the future.

     

    
      
         

      

      
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    7.  Confidentiality.  Except
as specifically permitted by an authorized officer of the Company or by written
Company policies, Executive will not, either during or after his employment by
the Company, use Confidential Information (as defined below) for any purpose
other than the business of the Company or disclose it to any person who is not
also an executive of the Company unless authorized by the Board. When
Executive’s employment with the Company ends, Executive will (upon written
request from the Company) promptly deliver to the Company or destroy, at the
option of the Company, all records and any compositions, articles, devices,
apparatuses and other items that disclose, describe, or embody Confidential
Information, including all copies, reproductions, and specimens of the
Confidential Information in Executive’s possession, regardless of who prepared
them and will promptly deliver any other property of the Company in Executive’s
possession, whether or not Confidential Information. As used in this Section 7,
“Confidential
Information” means information that is not generally known and that is
proprietary to the Company or that the Company is obligated to treat as
proprietary, including information known by Executive prior to the Effective
Date. Any information that Executive reasonably considers Confidential
Information, or that the Company treats as Confidential Information, will be
presumed to be Confidential Information (whether the Executive or others
originated it and regardless of how the Executive obtained it).  The
terms of this provision shall survive any termination or expiration of this
Agreement.

     

    8.  Restrictive
Covenants.

     

    (a)  Non-Solicitation.  Executive
agrees that, during the Term and for a period of one year following the
termination of Executive’s employment with the Company (for any reason or no
reason), Executive will not, without the prior written consent of the Company,
directly or indirectly, do or commit any of the following acts:

     

    (i)  Induce,
entice, hire or attempt to hire, employ or otherwise contract with any employee
or independent contractor of the Company; provided, that Executive may contract
with independent contractors for matters that are not related to the business
activities of the Company.

     

    (ii)  Induce,
or attempt to induce, any employee or independent contractor of the Company to
leave the employ or cease doing business with the Company.

     

    (iii)  Induce,
or attempt to induce, any customer, supplier, vendor or any other person to
cease doing business with the Company.

     

    (iv)  Induce or
attempt to induce any individual to violate any agreement with the
Company.

     

    (b)  Non-Competition.

     

    (i)  Executive
agrees that, during the Term, Executive will not, without the prior written
consent of the Company, directly or indirectly, render services, advice or
assistance to any corporation, person, organization or other entity which
engages in the mining business (except as permitted under Section 3 hereof), as
an employee, independent contractor, officer, director, manager, beneficial
owner, partner, member shareholder (other than being a shareholder of a
corporation required to file periodic reports with the Securities and Exchange
Commission under Section 13 or 15(d) of the Securities Exchange Act of 1934, as
amended, where the shareholder’s total holdings are less than three percent
(3%)).

     

    
      
         

      

      
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    (ii)  Executive
agrees that, for a period of one year following the termination of Executive’s
employment with the Company (for any reason or no reason), Executive will not,
without the prior written consent of the Company, directly or indirectly, on his
own behalf or on behalf of any corporation, person, organization or other entity
as an employee, independent contractor, officer, director, manager, beneficial
owner, partner, member shareholder (other than being a shareholder of a
corporation required to file periodic reports with the Securities and Exchange
Commission under Section 13 or 15(d) of the Securities Exchange Act of 1934, as
amended where the shareholder’s total holdings are less than three percent
(3%)), engage in or otherwise have an interest in any business carried on in
direct competition with the Company or any of its affiliates with respect to any
project of the Company or any of its affiliates (which shall for purposes of
this Agreement include any projects located within 2 miles of a project of the
Company or its affiliates) for which Executive was involved on behalf of the
Company or for which Executive received confidential information .

     

    9.  Dispute
Resolution.  Any dispute arising out of or related to
Executive’s employment with the Company or this Agreement or any breach or
alleged breach hereof by either party shall be governed by the laws of Colorado
and resolved in the Colorado State Courts in Denver, Colorado, and the parties
hereto hereby submit to such jurisdiction.

     

    10.  Termination of
Employment.  Except as expressly provided to the contrary in
this section or applicable law, Executive’s rights to Compensation shall cease
on the date his employment under this Agreement terminates except as to unpaid
Compensation, Benefits or reimbursement of Expenses  for which
Executive is eligible pursuant to Sections 4, 5 and 6 above.

     

    (a)  This
Agreement shall terminate in its entirety immediately upon the death of
Executive except as provided above and in section 11(a) below.

     

    (b)  The
Company or Executive may terminate employment under this Agreement at any time,
with or without Cause (as defined below) with a 30-day written notice of
termination to the other party. The termination shall be effective as of the
date specified by the party initiating the termination in a written notice
delivered to the other party, which date shall not be earlier than the date such
notice is delivered to the other party.  For the purposes of this
Agreement, “Cause” shall
mean (i) the commission of embezzlement, theft or other dishonest or fraudulent
acts of a material nature; (ii) material misconduct in respect of the duties or
obligations of Executive under this Agreement, including, without limitation,
insubordination with respect to directions received from the Board or CEO; (iii)
conviction of a felony or a misdemeanor involving a crime of moral turpitude
(including entry of a nolo contendere plea); (iv) willful malfeasance or gross
negligence which has a material adverse effect on the Company or its business or
any affiliate of the Company, including, but not limited to, any officer,
director, Executive or shareholder of the Company; provided that the Company
gives notice thereof identifying the conduct alleged and, if such action is
capable of cure, gives Executive 10 business days to cure; or (v) a material
breach by Executive of any provision of this Agreement that is not cured within
10 business day after written notice thereof is given to Executive by the
Company. The requirement to relocate to a different city, state or country shall
not be deemed Cause.

     

    (c)  If
Executive’s employment is terminated for any reason other than due to
Executive’s death or for Cause, then the Company (or its successor) shall pay
executive any accrued and unpaid Compensation earned or right to reimbursement
of Expenses as of the date of termination plus $60,000 as severance, unless such
termination is within 3 months of the Effective Date, in which case the
severance payment shall be equal to $20,000 multiplied by the number of full
months that Executive has been employed hereunder.

     

    
      
         

      

      
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    11.  General
Provisions.

     

    (a)  Successors and
Assigns.  This Agreement is binding on and inures to the
benefit of the Company’s successors and assigns, all of which are included in
the term the “Company” as it is used in this Agreement; provided, however, that
the Company may assign this Agreement only in connection with a merger,
consolidation, assignment, sale or other disposition of substantially all of its
assets or business. Any rights to unpaid Compensation, Benefits or reimbursement
for Expenses that Executive has earned or is otherwise entitled under this
Agreement inures to the benefit of Executive’s heirs in the event of his
demise.

     

    (b)  Amendment.  This
Agreement may be modified or amended only by a written agreement signed by both
the Company and Executive.

     

    (c)  Governing
Law.  The laws of Colorado will govern the validity,
construction, and performance of this Agreement, without regard to any choice of
law or conflict of law rules.

     

    (d)  Construction.  Wherever
possible, each provision of this Agreement will be interpreted so that it is
valid under the applicable law. If any provision of this Agreement is to any
extent invalid under the applicable law, which provision will still be effective
to the extent it remains valid. The remainder of this Agreement also will
continue to be valid, and the entire Agreement will continue to be valid in
other jurisdictions.

     

    (e)  No
Waiver.  No failure or delay by either the Company or Executive
in exercising or enforcing any right or remedy under this Agreement will waive
any provision of the Agreement. Nor will any single or partial exercise by
either the Company or Executive of any right or remedy under this Agreement
preclude either of them from otherwise or further exercising these rights or
remedies, or any other rights or remedies granted by any law or any related
document.

     

    (f)  Captions.  The
headings in this Agreement are for convenience only and shall not affect this
Agreement’s interpretation.

     

    (g)  References.  Except
as otherwise required or indicated by the context, all references to Sections in
this Agreement refer to Sections of this Agreement.

     

    (h)  Entire Agreement.
This Agreement supersedes all previous and contemporaneous oral negotiations,
commitments, writings, and understandings between the parties concerning the
matters in this Agreement. In the case of any conflict between the terms of this
Agreement and any other agreement, writing or understanding, this Agreement will
control.

     

    (i)  Notices.  All
notices and other communications required or permitted under this Agreement
shall be in writing and shall be hand delivered or sent by registered or
certified first class mail, postage prepaid, and shall be effective upon
delivery if hand delivered, or three days after mailing if mailed to the
addresses stated below. These addresses may be changed at any time by like
notice:

     

    
      
         

      

      
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              If
      to the Company:

            	
              Standard
      Gold, Inc.

            
	 
      	
              c/o
      Wits Basin Precious Minerals Inc.

            
	 
      	
              900
      IDS Center

            
	 
      	
              80
      South Eighth Street

            
	 
      	
              Minneapolis,
      MN 55402-8773

            
	 	 
	
              If
      to Executive:

            	
              Stephen
      E. Flechner

            
	 
      	
              1337
      S. Fillmore St.

            
	 
      	
              Denver,
      CO. 80210

            

    

     

    (j)  Counterparts.  This
Agreement may be executed in any number of counterparts, all of which taken
together shall constitute one agreement binding on all parties. Each party shall
become bound by this Agreement immediately upon signing any counterpart,
independently of the signature of any other party. In making proof of this
Agreement, however, it will be necessary to produce only one copy signed by the
party to be charged.

     

    Signature
Page Follows

     

     

     

    
 

    
      
         

      

      
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    IN
WITNESS WHEREOF, the undersigned Executive and the Company have executed this
Agreement effective as of the Effective Date.

     

     

    
      	
              Standard
      Gold, Inc.

            	      
              Executive

            
	
              a
      Colorado corporation

            	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	
              By:

            	
              /s/
      Stephen D.
      King                    
      

            	
              /s/
      Stephen E.
      Flechner                       
      

            
	 
      	
              Stephen
      D. King

            	
              Stephen
      E. Flechner

            
	 
      	
              Its:
      CEO

            	 
      

    

    

    

    
      
         

      

      
        7EXHIBIT
10.3

    Standard
Gold, Inc.

    Stock
Option Agreement

    

    This
Stock Option Agreement (the  “Agreement”) is made and
entered into as of the 1st day of
April, 2010, between Stephen E. Flechner (“Executive”) and Standard Gold,
Inc., a Colorado corporation (the “Company”).

    

    Background

    

    A.           Executive
has been appointed by the Company’s board of directors to serve as the President
of the Company, and the Company desires to induce Executive to serve as the
President of the Company.

    

    B.           The
Company has adopted the 2010 Stock Incentive Plan (the “Plan”) pursuant to which
shares of common stock of the Company have been reserved for issuance under the
Plan.

    

    Now,
Therefore, the parties hereto agree as follows:

    

    1.           Incorporation by
Reference.  The terms and conditions of the Plan, a copy of
which has been delivered to Executive, are hereby incorporated herein and made a
part hereof by reference as if set forth in full.  In the event of any
conflict or inconsistency between the provisions of this Agreement and those of
the Plan, the provisions of the Plan shall govern and control.

    

    2.           Grant of Option; Exercise
Price.  Subject to the terms and conditions herein set forth,
the Company hereby irrevocably grants from the Plan to Executive the right and
option, hereinafter called the “Option”, to purchase all or
any part of an aggregate of 800,000 shares of common stock, $.001 par value, of
the Company (the “Shares”) at the price per
Share set forth at the end of this Agreement after “Exercise Price”.

    

    3.           Exercise and Vesting of
Option.  The Option shall be exercisable only to the extent
that all, or any portion thereof, has vested in the Executive.  The
right to purchase the Shares subject to the Option shall vest pro rata in three
annual installments beginning on the date of this Agreement and continuing each
year thereafter until the Option is fully vested, so long as Executive has not
resigned, retired, is removed or in any other manner ceases being an executive
of the Company, for any reason or no reason, with or without cause, as set forth
in the following schedule (each such date is hereinafter referred to singularly
as a “Vesting Date” and
collectively as “Vesting
Dates”):

    

    
      	
              Total
      Shares Subject

              to Vesting Date

            	
               

              Vesting Date

            
	
              266,667

            	
              April
      1, 2010

            
	
              266,667

            	
              April
      1, 2011

            
	
              266,666

            	
              April
      1, 2012

            

    

    

    Notwithstanding
the foregoing, this Option shall immediately vest in its entirety upon the
occurrence of (i) a period of time whereby the Fair Market Value (as defined
below) of the Company’s common stock equals or exceeds $3.00 per share for at
least thirty (30) consecutive calendar days, (ii) Executive’s death,
(iii)  a Change of Control (as defined below), or (iv) the removal of
the Executive by the Company for reasons other than Cause (as defined
below).  For purposes of this Paragraph 3:  “Fair Market Value” shall mean:
(i) if the Company’s common stock is listed on an exchange or quoted on an
over-the-counter market (including the OTC Bulletin Board), the closing price of
such common stock on such date; or (ii) if the Company’s common 

     

    
      
         

      

      
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    stock is
not listed on an exchange or quoted on an over-the-counter market, the fair
market value of such common stock as determined by the Board, acting in good
faith utilizing customary business valuation criteria and methodologies (without
discount for lack of marketability or minority interest); a “Change of Control” means (i)
the acquisition, directly or indirectly, following the date hereof by any person
(as such term is defined in Section 13(d) and 14(d)(2) of the Securities
Exchange Act of 1934, as amended), in one transaction or a series of related
transactions, of securities of the Company representing in excess of fifty
percent (50%) of the combined voting power of the Company’s then outstanding
securities if such person or his/her/its affiliate(s) do not own in excess of
fifty percent (50%) of such voting power on the date of this Agreement,
provided, however, that a Change of Control shall not include any transaction or
series of related transactions effected primarily for capital raising purposes;
or (ii) the disposition by the Company (whether direct or indirect, by sale of
assets or stock, merger, consolidation or otherwise) of all or substantially all
of its business and/or assets in one transaction or series of related
transactions (other than a merger effected exclusively for the purpose of
changing the domicile of the Company), provided, however, that a Change of
Control shall not include any merger, consolidation or other transaction (or
series of related transactions) in which, following such transaction, the
stockholders of the Company immediately prior to such transaction continue to
own in excess of fifty percent (50%) of the combined voting power of the
surviving or resulting entity; and “Cause” shall mean (i) the
commission of embezzlement, theft or other dishonest or fraudulent acts of a
material nature; (ii) material misconduct in respect of the duties or
obligations of Executive under that certain Employment Agreement by and between
Executive and the Company on or around the date of this Agreement (the “Employment Agreement”),
including, without limitation, insubordination with respect to directions
received from the Board or CEO; (iii) conviction of a felony or a misdemeanor
involving a crime of moral turpitude (including entry of a nolo contendere
plea); (iv) willful malfeasance or gross negligence which has a material adverse
effect on the Company or its business or any affiliate of the Company,
including, but not limited to, any officer, director, Executive or shareholder
of the Company; provided that the Company gives notice thereof identifying the
conduct alleged and, if such action is capable of cure, gives Executive 10
business days to cure; or (v) a material breach by Executive of any provision of
the Employment Agreement that is not cured within 10 business day after written
notice thereof is given to Executive by the Company. The requirement to relocate
to a different city, state or country shall not be deemed Cause.

    

    4.           Term of
Option.  To the extent vested and except as otherwise provided
in this Agreement, the Option shall be exercisable for ten (10) years from the
date of this Agreement;  provided, however, that in the
event Executive resigns, retires, is removed or in any other manner ceases being
an executive of the Company, for any reason or no reason, with or without cause,
except for reason of Executive’s death, Executive or his/her legal
representative shall have ninety (90) days from the date of such termination of
his/her position as an executive to exercise all or any part of the Option,
subject to the ten-year option period. In the event of Executive’s death during
the term of his employment, Executive’s spouse shall have a period of one (1)
year from the date of Executive’s death to exercise all or any part of the
Option, subject to the ten-year option period.  Upon the expiration of
such ninety (90) day period (or, in the event of Executive’s death, such one (1)
year period), or, if earlier, upon the expiration date of the Option as set
forth above, the Option shall terminate and become null and void.

    

    5.           Rights of Option
Holder.  Executive, as holder of the Option, shall not have any
of the rights of a stockholder with respect to the Shares covered by the Option
except to the extent that one or more certificates for such Shares shall be
delivered to him or her upon the due exercise of all or any part of the
Option.

    

    6.           Transferability.  The
Option shall not be transferable except to the extent permitted by the
Plan.

    

    
      
         

      

      
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    7.           Securities Law
Matters.  Executive acknowledges that the Shares to be received
by him or her upon exercise of the Option may have not been registered under the
Securities Act of 1933 or the Blue Sky laws of any state (collectively, the
“Securities
Acts”).  If such Shares have not been so registered, Executive
acknowledges and understands that the Company is under no obligation to
register, under the Securities Acts, the Shares received by him or her or to
assist him or her in complying with any exemption from such registration if he
or she should at a later date wish to dispose of the Shares. Executive
acknowledges that if not then registered under the Securities Acts, the Shares
shall bear a legend restricting the transferability thereof, such legend to be
substantially in the following form:

    

    “The
shares represented by this certificate have not been registered or qualified
under federal or state securities laws.  The shares may not be offered
for sale, sold, pledged or otherwise disposed of unless so registered or
qualified, unless an exemption exists or unless such disposition is not subject
to the federal or state securities laws, and the Company may require that the
availability or any exemption or the inapplicability of such securities laws be
established by an opinion of counsel, which opinion of counsel shall be
reasonably satisfactory to the Company.”

    

    8.           Executive
Representations.  Executive hereby represents and warrants that
Executive has reviewed with his or her own tax advisors the federal, state, and
local tax consequences of the transactions contemplated by this
Agreement.  Executive is relying solely on such advisors and not on
any statements or representation of the Company or any of its agents. Executive
understands that he or she will be solely responsible for any tax liability that
may result to him or her as a result of the transactions contemplated by this
Agreement.  The Option, if exercised, will be exercised for investment
and not with a view to the sale or distribution of the Shares to be received
upon exercise thereof.

    

    9.           Notices.  All
notices and other communications provided in this Agreement will be in writing
and will be deemed to have been duly given when received by the party to whom it
is directed at the following addresses:

     

    
      	      
              If
      to the Company:

            	      
              If
      to Executive:

            
	 	 
	      
              Standard
      Gold, Inc.

              900
      IDS Center

              80
      South Eighth Street

              Minneapolis,
      MN 55402-8773

            	Stephen E. Flechner
      
              1337
      S. Fillmore St.

              Denver,
      CO. 80210 

            

    

    
    

     

    10.           General.

    

    (a)           The
Option is granted pursuant to the Plan and is governed by the terms
thereof.  The Company shall at all times during the term of the Option
reserve and keep available such number of Shares as will be sufficient to
satisfy the requirements of this Agreement.

    

    (b)           Nothing
herein expressed or implied is intended or shall be construed as conferring upon
or giving to any person, firm, or corporation other than the parties hereto, any
rights or benefits under or by reason of this Agreement.

    

    (c)           Each
party hereto agrees to execute such further documents as may be necessary or
desirable to effect the purposes of this Agreement.

    

    
      
         

      

      
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    (d)           This
Agreement may be executed in any number of counterparts, each of which shall be
deemed an original, but all of which shall constitute one and the same
agreement.

    

    (e)           This
Agreement, in its interpretation and effect, shall be governed by the laws of
the State of Colorado applicable to contracts executed and to be performed
therein.

    

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

    

    
      	
              Number
      of Shares: 800,000

            	
              EXECUTIVE:

            
	 	 
	      
              Exercise
      Price:   $0.90 

            	      
              /s/
      Stephen E.
      Flechner                                     
      

            
	 	      
              Name:  Stephen
      E. Flechner 

            
	 	 
	 	 
	 	      
              STANDARD
      GOLD, INC.

            
	 	 
	 
      	
              By: 
      /s/ Stephen D.
      King                                  
      

            
	 	
              Stephen D. King

              Chief
      Executive Officer

            
	 	 
	 	 
	 	 

    

    

    
      
         

      

      
        4

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