Document:

Sterling Mining Company Form of Subscription Agreement

 Exhibit 10.2 
 STOCK SUBSCRIPTION AGREEMENT 
 FOR 
 STERLING MINING COMPANY 
 an Idaho corporation 
  

	1.	SUBSCRIPTION: The undersigned,
                                 (the “Subscriber”1) hereby subscribes for the purchase of
                                
(                    ) shares of Common Stock of STERLING MINING COMPANY (the “Company”), an Idaho corporation, in consideration of
the sum of                                 
($            ) and              has paid, or
             agrees to pay 100% of the total subscription price upon submission of this subscription agreement. Such subscription is subject to the following- terms and conditions:

  

	 	a.	No certificate(s) for shares shall be issued to the undersigned until the entire stock subscription price is paid; 

  

	 	b.	The Company reserves the right to reject, reduce or allot all subscriptions received; 

  

	 	c.	The Company reserves the right to increase the aggregate number of shares being sold by it; 

  

	 	d.	The certificate(s) representing the shares delivered pursuant to this subscription agreement shall bear a legend in the following form: 

 The shares represented by this certificate have not been registered under the Securities Act of 1933 (“Act”), as amended, or any other
applicable federal or state securities act; and are “restricted securities” as defined by Rule 144 of the Act. The shares may not be transferred, sold or otherwise disposed of unless; (1) a registration statement with respect to the
shares shall be effective under the Act or any other federal or state securities acts or an exemption from registration requirements under the Act is effective, and (2) the Company shall have received an opinion of Counsel for the Company that
no violations of any securities acts will be involved in any transfer. 
  

	1	The Company issued shares of common stock during the second quarter of 2006 as follows: 250,000 shares to an overseas investor with full warrants attached on
April 19, 2006; 50,000 shares to an overseas investor with full warrants attached on April 20, 2006; 10,000 shares to an overseas investor with full warrants attached on May 1, 2006; 125,000 shares to an overseas investor with half
warrants attached on June 22, 2006 

	 	e.	If the shares represented by this certificate have been held for a period of at least one (1) year and if Rule 144 of the Securities Act of 1933, as amended (the
“Act”), is applicable, then the undersigned may make sales of the shares only under the terms and conditions prescribed by Rule 144 of the Act. 

  

	2.	REPRESENTATIONS AND WARRANTIES: The undersigned Subscriber hereby represents and warrants to the Company: 

  

	 	a.	The undersigned Subscriber understands that the Company’s STOCK HAS NOT BEEN APPROVED OR DISAPPROVED BY THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION OR ANY STATE
SECURITIES AGENCY; 

  

	 	b.	The undersigned Subscriber is not an underwriter and would be acquiring the Company’s stock solely for investment for his or her own account and not with a view to, or for,
resale in connection with any distribution with in the meaning of the federal securities act, the state securities acts or any other applicable state securities acts; 

  

	 	c.	The undersigned Subscriber understands the speculative nature and risks of investments associated with the Company, and confirms that the stock would be suitable and consistent with
his or her investment program and that his or her financial position enable him or her to bear the risks of this investment; and that there is not any public market for the stock subscribed for herein; 

  

	 	d.	The stock subscribed for herein may not be transferred, encumbered, sold, hypothecated, or otherwise disposed of to any person, without the prior written consent of the Company,
and, at the Company’s discretion a prior opinion of counsel for the Company that such disposition will not violate federal and/or state securities acts. Disposition shall include, but is not limited to acts of selling, assigning, transferring,
pledging, encumbering, hypothecating, giving, and any form of conveying, whether voluntary or not; 

  

	 	e.	To the extent that any federal, and/or state securities laws shall require, the Subscriber hereby agrees that any stock acquired pursuant to this Agreement shall be without
preference as to assets; 

  

	 	f.	The Company is under no obligation to register or seek an exemption under any federal and/or state securities acts for any stock of the Company or to cause or permit such stock to
be transferred in the absence of any such registration or exemption and that the Subscriber herein must hold such stock indefinitely unless such stock is subsequently registered under federal and/or state securities acts or an exemption from
registration is available; 

  

	 	g.	The Subscriber has had the opportunity to ask questions of the Company and receive additional information from the Company to the extent that the Company possessed such information,
necessary to evaluate the merits and risks of any investment in the Company. 

  

	 	h.	The Subscriber has adequate means of providing for his current needs and personal contingencies and has no need to sell the shares in the foreseeable future (that is at the time of
the investment, Subscriber can afford to hold the investment for an indefinite period of time); and, 

	 	i.	The Subscriber has sufficient knowledge and experience in financial matters to evaluate the merits and risks of this investment and further, the Subscriber is capable of reading,
and interpreting financial statements. 

  

	3.	LIMITED POWER OF ATTORNEY: The undersigned Subscriber hereby constitutes and appoints and grants to Ray De Motte, President of the Company, his limited
attorney-in-fact and agent to sign for him and act in his name, place and stead, in any and all capacities to execute any or all documents to be filed with the United States Securities and Exchange Commission and any governmental agency, federal,
state or otherwise in connection with any securities flags, including, but not limited to: amendments, exhibits, agreements, concerning shareholders granting, said limited attorney-in-fact and agent, full power and authority to do and perform each
and every act and thing requisite and necessary to be done in and about the premises, as fully and to all intents and purposes as he might or could do in person, hereby ratifying and confirming, all that each said limited attorney-in-fact and agent
or his substitute or substitutes, may lawfully do or cause to be done by virtue hereof. 

  

	4.	STATUS OF PURCHASER: 

  

	 	 ̈	I am not a member of, or an associate or affiliate of a member of the National Association of Securities Dealers. 

  

	 	 ̈	I am a member of, or an associate or affiliate of a member of the National Association of Securities Dealers. Attached is a copy of an agreement signed by the principal of the firm
with which I am affiliated agreeing to may participation in this investment. 

  

	5.	MISCELLANEOUS: This Subscription Agreement shall be binding upon the parties hereto, their heirs, executors, successors, and legal representatives. The law of the
State of Idaho shall govern the rights of the parties to this Agreement. This Agreement is not assignable without the prior written consent of the Company, and any attempt to assign any rights, duties or obligations which arise under this Agreement
without the Company’s prior express written consent shall be void. 

 The undersigned Subscriber hereby declares and
affirms that he or she has read the within and foregoing Subscription Agreement, is familiar with the contents thereof and agrees to abide by there terms and conditions therein set forth, and knows the statements therein to be true and correct.

 I hereby consent to the use of my name in any prospectus or registration statement which may be filed in connection with any public
offering of the Company’s securities. 
 IN WITNESS WHEREOF, the parties have executed this Subscription Agreement this
                             day of
                         at
                                ,
                                . 

	
	SUBSCRIBER
	
	  

	Signature
	
	  

	Spouse’s Signature (if applicable)
	
	  

	Address
	
	  

	City, State and Zip Code
	
	  

	Area Code and Telephone Number

 ACCEPTED BY: 
  

			
	STERLING MINING COMPANY
	an Idaho corporation
		
	BY:	 	  

		 	Ray De Motte, President
		 	         Or

		 	Gene Higdem, TreasurerSterling Mining Company Form of  Warrant for Offshore Offering

 Exhibit 10.3 
 Common Stock Purchase Warrant 
 NEITHER THIS SECURITY NOR THE SECURITIES INTO WHICH THIS SECURITY IS EXERCISABLE HAVE BEEN REGISTERED WITH
THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR
SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH
APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY. 
 COMMON STOCK PURCHASE WARRANT 
 STERLING MINING COMPANY 
 THIS COMMON STOCK PURCHASE WARRANT (the “Warrant”) certifies that, for value received,
                 (the “Holder”), is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth,
at any time on or after                  and on or prior to the close of business on
                , but not thereafter, to subscribe for and purchase from Sterling Mining Company, an Idaho corporation (the “Company”), up to
                 shares (the “Warrant Shares”) of Common Stock, par value $0.05 per share, of the Company (the “Common Stock”).
The purchase price of one share of Common Stock under this Warrant shall be equal to the Exercise Price, as defined in Section 1(b). 
 Section 1. Exercise. 
 a) Exercise of Warrant. Exercise of the purchase rights represented
by this Warrant may be made, in whole or in part, at any time or times on or after                  and on or before
                 by delivery to the Company of a duly executed facsimile copy of the Notice of Exercise Form annexed hereto (or such other office or agency of the
Company as it may designate by notice in writing to the registered Holder at the address of such Holder appearing on the books of the Company); provided, however, within five Business Days (a weekday on which banks are open to transact
business in the state of Idaho) of the date said Notice of Exercise is delivered to the Company, the Holder shall have surrendered this Warrant to the Company and the Company shall have received payment of the aggregate Exercise Price of the shares
thereby purchased by wire transfer or cashier’s check drawn on a United States bank. 
 b) Exercise Price. The
exercise price of the Common Stock under this Warrant shall be $            , subject to adjustment hereunder (the “Exercise Price”). 

 c) Mechanics of Exercise. 
 i. Authorization of Warrant Shares. The Company covenants that all Warrant Shares that may be issued upon the exercise of the
purchase rights represented by this Warrant will, upon exercise of the purchase rights represented by this Warrant, be duly authorized, validly issued, fully paid and nonassessable and free from all taxes, liens and charges in respect of the issue
thereof (other than taxes in respect of any transfer occurring contemporaneously with such issue). 
 ii. Delivery of
Certificates Upon Exercise. Certificates for shares purchased hereunder shall be delivered to the address specified by the Holder in the Notice of Exercise within five Business Days after the date of delivery to the Company of the Notice of
Exercise Form, surrender of this Warrant and payment of the aggregate Exercise Price as set forth above (“Warrant Share Delivery Date”). This Warrant shall be deemed to have been exercised on the date the Exercise Price is received
by the Company. 
 iii. Delivery of New Warrants Upon Exercise. If this Warrant shall have been exercised in part, the
Company shall, at the time of delivery of the certificate or certificates representing Warrant Shares, deliver to Holder a new Warrant evidencing the rights of Holder to purchase the unpurchased Warrant Shares called for by this Warrant, which new
Warrant shall in all other respects be identical with this Warrant. 
 iv. No Fractional Shares or Scrip. No fractional
shares or scrip representing fractional shares shall be issued upon the exercise of this Warrant. As to any fraction of a share that Holder would otherwise be entitled to purchase upon such exercise, such fractional Warrant Share shall be
disregarded and the number of Warrant Shares issuable upon such exercise, in the aggregate, shall be the nearest whole number of Warrant Shares. 
 Section 3. Certain Adjustments. If the Company, at any time while this Warrant is outstanding subdivides (by any stock split, stock dividend, recapitalization, reorganization, reclassification or otherwise) its shares of
Common Stock into a greater number of shares, then after the date of record for effecting such subdivision, the Exercise Price shall be proportionately reduced, or if the Company combines (by reverse stock split, recapitalization, reorganization,
reclassification or otherwise) its shares of Common Stock into a smaller number of shares, the Exercise Price shall be proportionately increased. 
 Section 4. Transfer of Warrant. 
 a) Transferability. Subject to compliance with any
applicable securities laws and the conditions set forth herein, this Warrant and all rights hereunder are transferable, 

 
in whole or in part, upon surrender of this Warrant at the principal office of the Company, together with a written assignment of this Warrant substantially
in the form attached hereto duly executed by the Holder or its agent or attorney and funds sufficient to pay any transfer taxes payable upon the making of such transfer. Upon such surrender and, if required, such payment, the Company shall execute
and deliver a new Warrant or Warrants in the name of the assignee or assignees and in the denomination or denominations specified in such instrument of assignment, and shall issue to the assignor a new Warrant evidencing the portion of this Warrant
not so assigned, and this Warrant shall promptly be cancelled. A Warrant, if properly assigned, may be exercised by a new holder for the purchase of Warrant Shares without having a new Warrant issued. 
 b) New Warrants. This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office of
the Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by the Holder or its agent or attorney. Subject to compliance with the provisions hereof as to any transfer that may be
involved in such division or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants to be divided or combined in accordance with such notice. 
 c) Holder of Record. The Company may deem and treat the Holder of this Warrant as recorded on the books and records of the Company
as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder, and for all other purposes, absent actual notice to the contrary. 
 d) Transfer Restrictions. If, at the time of the surrender of this Warrant in connection with any transfer of this Warrant, the
transfer of this Warrant shall not be registered pursuant to an effective registration statement under the Securities Act and under applicable state securities or blue sky laws, the Company may require, as a condition of allowing such transfer
(i) that the Holder or transferee of this Warrant, as the case may be, furnish to the Company a written opinion of counsel (which opinion shall be in form, substance and scope customary for opinions of counsel in comparable transactions) to the
effect that such transfer may be made without registration under the Securities Act and under applicable state securities or blue sky laws, (ii) that the holder or transferee execute and deliver to the Company an investment letter in form and
substance acceptable to the Company and (iii) that the transferee be an “accredited investor” as defined in Rule 501(a) promulgated under the Securities Act or a qualified institutional buyer as defined in Rule 144A(a) under the
Securities Act. 
 Section 5. Miscellaneous. 
 a) No Rights as Shareholder Until Exercise. This Warrant does not entitle the Holder to any voting rights or other rights as a
shareholder of the Company prior to the exercise hereof. Upon the surrender of this Warrant and the payment of the aggregate Exercise Price, the Warrant Shares so purchased shall be and be deemed to be issued to such Holder as the record owner of
such shares as of the close of business on the later of the date of such surrender or payment. 

 b) Loss, Theft, Destruction or Mutilation of Warrant. The Company covenants that
upon receipt by the Company of evidence reasonably satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to the Warrant Shares, and in case of loss, theft or destruction, of indemnity or
security reasonably satisfactory to it (which, in the case of the Warrant, shall not include the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate, if mutilated, the Company will make and deliver a new
Warrant or stock certificate of like tenor and dated as of such cancellation, in lieu of such Warrant or stock certificate. 
 c) Authorized Shares. The Company covenants that during the period the Warrant is outstanding, it will reserve from its authorized and unissued Common Stock a sufficient number of shares to provide for the issuance of the Warrant
Shares upon the exercise of any purchase rights under this Warrant. The Company further covenants that its issuance of this Warrant shall constitute full authority to its officers who are charged with the duty of executing stock certificates to
execute and issue the necessary certificates for the Warrant Shares upon the exercise of the purchase rights under this Warrant. The Company will take all such reasonable action as may be necessary to assure that such Warrant Shares may be issued as
provided herein without violation of any applicable law or regulation. 
 d) Jurisdiction. All questions concerning the
construction, validity, enforcement and interpretation of this Warrant shall be determined in accordance with the laws of the state of Idaho. 
 e) Restrictions. The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered, will have restrictions upon resale imposed by state and federal securities laws.

 f) Notices. Any notice, demand or request required or permitted to be given by the Company or the Holder pursuant to
the terms of this Warrant shall be in writing and shall be deemed delivered (i) when delivered personally or by verifiable facsimile transmission, unless such delivery is made on a day that is not a Business Day, in which case such delivery
will be deemed to be made on the next succeeding Business Day and (ii) on the next Business Day after timely delivery to an overnight courier, addressed as follows: 
 If to the Company: 
 Sterling Mining Company 
 P.O. Box 2838 
 2201 N. Government Way, Suite E 
 Coeur d’Alene, ID 83814 
 Attn:    Chief Executive Officer

 Tel:      208-666-4070 
 Fax:      208-676-1629 
 If to the Holder: To the Holder at the address appearing on the books and records of the Company. 

 g) Successors and Assigns. Subject to applicable securities laws, this Warrant and
the rights and obligations evidenced hereby shall inure to the benefit of and be binding upon the successors of the Company and the successors and permitted assigns of Holder. 
 h) Amendment. This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company and
the Holder. 
 i) Severability. Wherever possible, each provision of this Warrant shall be interpreted in such manner
as to be effective and valid under applicable law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating
the remainder of such provisions or the remaining provisions of this Warrant. 
 j) Headings. The headings used in this
Warrant are for the convenience of reference only and shall not, for any purpose, be deemed a part of this Warrant. 
 IN WITNESS WHEREOF,
the Company has caused this Warrant to be executed by its officer thereunto duly authorized. 
 Dated:
                                 
  

			
	STERLING MINING COMPANY
		
	By:	 	  

	Name:	 	
	Title:	 	

 NOTICE OF EXERCISE 
  

	TO:	STERLING MINING COMPANY 

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

	 	 ̈	cashier’s check; or 

  

	 	 ̈	wire transfer. 

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

			
	  
 	 	  

 The Warrant Shares shall be delivered to the following: 
  

			
	  
	 	
		
	  
	 	
		
	  
	 	

 (4) The undersigned represents and warrants that the undersigned is an “accredited
investor” as defined in Regulation D promulgated under the Securities Act of 1933, as amended. 
 [SIGNATURE OF HOLDER]

  

	
	Name of Investing Entity:
	  
  

	
	Signature of Authorized Signatory of Investing Entity:
	  
  

	
	Name of Authorized Signatory:
	  
  

	
	Title of Authorized Signatory:
	  
  

	
	Date:
	  
  

 ASSIGNMENT FORM 
 (To assign the foregoing warrant, execute 
 this form and supply required information. 
 Do not use this form to exercise the warrant.) 
 FOR VALUE RECEIVED, the foregoing Warrant and all rights evidenced thereby are hereby assigned to 
  

	
	  
 whose address is

	  

	  

 Dated:
                                 
  

			
	Holder’s Signature:	 	  
  

		
	Holder’s Address:	 	  
  

		 	  
  

 NOTE: The signature to this Assignment Form must correspond with the name as it appears on the face of the
Warrant, without alteration or enlargement or any change whatsoever. Officers of corporations and those acting in a fiduciary or other representative capacity should file proper evidence of authority to assign the foregoing Warrant.

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