Document:

mmg_ex10x2.htm

    Exhibit 10.2

      VOTING
AGREEMENT

       

      THIS
VOTING AGREEMENT (this “Agreement”) is dated as of
_________________, by and between Dome Ventures Corporation, a Delaware
corporation (“Dome”),
and _______________ (“Stockholder”).

       

      RECITALS

       

      WHEREAS, Metalline Mining
Company, a Nevada corporation (“Metalline”), Metalline Mining Delaware, Inc.
(“Merger Sub”), a Delaware corporation and Dome have entered into an
Agreement and Plan of Merger and Reorganization (as it may be amended,
supplemented, modified or waived from time to time, the “Merger Agreement”), which
provides, among other things, for the merger of Merger Sub with and into Dome
(the “Merger”), upon the
terms and subject to the conditions set forth therein;

       

      WHEREAS,
Stockholder is the record and Beneficial Owner (as defined below) of, and has
the sole right to vote and dispose of, that number of Shares (as defined below)
set forth below Stockholder’s name on the signature page hereto;
and

       

      WHEREAS,
as an inducement to Dome entering into the Merger Agreement and incurring the
obligations therein, Dome has required that certain Stockholders enter into this
Agreement.

       

      NOW,
THEREFORE, the parties hereto, intending to be legally bound, agree as
follows:

       

      ARTICLE
1 - CERTAIN DEFINITIONS

       

      Section
1.1 Capitalized
Terms.  For this purposes of this Agreement:

       

      
        	
                (a)  

              	
                “Beneficial Owner” or
      “Beneficial
      Ownership” with respect to any securities means having “beneficial
      ownership” of such securities (as determined pursuant to Rule 13d-3 under
      the Exchange Act).

              

      

       

      
        	
                (b)  

              	
                “Exchange Act” means the
      Securities Exchange Act of 1934, as amended, and the rules and regulations
      promulgated thereunder.

              

      

       

      
        	
                (c)  

              	
                “Expiration Time” has the
      meaning set forth in Section 2.1.

              

      

       

      
        	
                (d)  

              	
                “Law” means “Laws”
      means any federal, national, supranational, state, provincial, local or
      similar constitution, statute, law, ordinance, regulation, rule, code,
      order, requirement or rule of law (including common
  law).

              

      

       

      
        	
                (e)  

              	
                “Owned Shares” means the
      Shares of which Stockholder is the Beneficial Owner as of the date of this
      Agreement and set forth below his name on the signature page hereto and
      any additional Shares of which Stockholder becomes the Beneficial Owner
      after the date of this Agreement including upon the exercise of stock
      options, warrants or other rights to acquire
  Shares.

              

      

       

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	
                (f)  

              	
                “Person” means any
      individual, partnership, firm, corporation, limited liability company,
      association, trust, unincorporated organization or other entity, as well
      as any syndicate or group that would be deemed to be a person under
      Section 13(d)(3) of the Exchange
Act.

              

      

       

      
        	
                (g)  

              	
                “Representative” means,
      with respect to any particular Person, any director, officer, employee,
      consultant, accountant, legal counsel, investment banker or other
      representative of such Person.

              

      

       

      
        	
                (h)  

              	
                “Shares” means shares of
      common stock, par value $0.01 per share of Metalline, and will also
      include for purposes of this Agreement all shares or other voting
      securities into which Shares may be reclassified, sub-divided,
      consolidated or converted and any rights and benefits arising therefrom,
      including any dividends or distributions of securities which may be
      declared in respect of the Shares and entitled to vote in respect of the
      matters contemplated by Article 2.

              

      

       

      
        	
                (i)  

              	
                “Transfer” means, with
      respect to a security, the sale, grant, assignment, transfer, pledge,
      encumbrance or other disposition of such security or the Beneficial
      Ownership thereof (including by operation of Law), or the entry into any
      contract to effect any of the foregoing, including, for purposes of this
      Agreement, the transfer or sharing of any voting power of such security or
      other rights in or of such
security.

              

      

       

      ARTICLE
2 - AGREEMENT TO VOTE

       

      Section
2.1 Agreement to
Vote.  Subject to the terms and conditions hereof, Stockholder
irrevocably and unconditionally agrees that from and after the date hereof and
until the earliest to occur of (i) the Effective Time and (ii) the
termination of the Merger Agreement in accordance with its terms (the “Expiration Time”), at any
meeting (whether annual or special, and at each adjourned or postponed meeting)
of Metalline’s stockholders, however called, for the purpose of, or in
connection with any written consent of Metalline’s stockholders with respect to,
seeking any stockholder approval (an “Approval”) required in
connection with or related to the Merger Agreement (a “Stockholder Meeting”),
Stockholder will (x) appear at such meeting or otherwise cause the Owned
Shares to be counted as present thereat for purposes of calculating a quorum,
and respond to each request by Dome for written consent, if any and
(y) vote, or cause to be voted (including by written consent, if
applicable), all of the Owned Shares (A) in favor of any Approval,
including the Share Issuance (as defined in the Merger Agreement) (whether or
not recommended by the Board of Directors of Metalline or any committee
thereof), (B) against any Competing Transaction (as defined in the Merger
Agreement) submitted by Metalline for a vote by its stockholders, and
(C) against any proposal made in opposition to, or in competition or
inconsistent with, the purposes and intents of the Merger Agreement or the
Merger.

       

      Section
2.2 Additional
Shares.  Stockholder hereby agrees, while this Agreement is in
effect, to promptly notify Dome of the number of any new Shares with respect to
which Beneficial Ownership is acquired by Stockholder, if any, after the date
hereof and before the Expiration Time. Any such Shares shall automatically
become subject to the terms of this Agreement as though owned by Stockholder as
of the date hereof.

       

       

       

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      Section
2.3 Restrictions on Transfer,
Etc.  Stockholder agrees, from the date hereof until the
Expiration Time, not to (i) directly or indirectly Transfer any Owned
Shares, (ii) tender any Owned Shares into any tender or exchange offer or
otherwise or (iii) grant any proxy with respect to the Owned Shares,
deposit the Owned Shares into a voting trust, enter into a voting agreement with
respect to any of the Owned Shares or otherwise restrict the ability of
Stockholder freely to exercise all voting rights with respect thereto. Any
action attempted to be taken in violation of the preceding sentence will be null
and void. Stockholder further agrees to authorize and request Metalline and Dome
to notify Metalline’s transfer agent that there is a stop transfer order with
respect to all of the Owned Shares (other than in respect of Transfers expressly
permitted by this Section 2.3) and that this Agreement places limits on the
voting of the Owned Shares.

       

      Section
2.4 Proxies.  Stockholder
hereby revokes any and all previous proxies granted with respect to his Owned
Shares. By entering into this Agreement, subject to the last sentence of this
Section 2.4, Stockholder hereby irrevocably grants a proxy appointing Dome with
full power of substitution, as Stockholder’s attorney-in-fact and proxy, for and
in Stockholder’s name, to be counted as present, vote, express consent or
dissent with respect to his Owned Shares solely on the matters set forth in, and
in the manner contemplated by, Section 2.1. The proxy granted by Stockholder
pursuant to this Section 2.4 is, subject to the last sentence of this Section
2.4, irrevocable and is coupled with an interest, in accordance with
Section 78.355 of the Nevada Revised Statues, and is granted in order to
secure Stockholder’s performance under this Agreement and also in consideration
of Dome entering into this Agreement and the Merger Agreement. If Stockholder
fails for any reason to be counted as present, consent or vote the Owned Shares
in accordance with the requirements of Section 2.1 above (or anticipatorily
breaches such section), then Dome shall have the right to cause to be present,
consent or vote Stockholder’s Owned Shares in accordance with the provisions of
Section 2.1. The proxy granted by Stockholder shall be automatically revoked
upon termination of this Agreement in accordance with its terms.

       

      ARTICLE
3 - REPRESENTATIONS AND WARRANTIES

       

      Section
3.1 Representations and Warranties of
Stockholder.  Stockholder represents and warrants to Dome as of
the date of this Agreement, as of the date of any Company Stockholders Meeting
(and as of the date of any adjournment or postponement thereof) and as of the
date of the execution of any written Stockholder consent or any proxy permitted
under this Agreement or consented to by Dome, as follows:

       

      
        	
                (a)  

              	
                Stockholder
      has the requisite capacity and authority to execute and deliver this
      Agreement and to fulfill and perform his obligations hereunder. This
      Agreement has been duly and validly executed and delivered by Stockholder
      and constitutes a legal, valid and binding agreement of Stockholder
      enforceable by Dome against Stockholder in accordance with its
      terms.

              

      

       

       

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                (b)  

              	
                Stockholder
      is the record and Beneficial Owner, free and clear of any liens (other
      than those arising under this Agreement or except as otherwise noted
      herein) of the Owned Shares and, except as provided in this Agreement, has
      full and unrestricted power to dispose of and vote all of the Owned Shares
      without the consent or approval of, or any other action on the part of any
      other Person, and has not granted any proxy inconsistent with this
      Agreement that is still effective or entered into any voting or similar
      agreement with respect to, the Owned Shares.  The Owned Shares
      set forth below Stockholder’s name on the signature page hereto constitute
      all of the capital stock of Metalline that is Beneficially Owned by
      Stockholder as of the date hereof, and Stockholder does not have any right
      to acquire (whether currently, upon lapse of time, following the
      satisfaction of any conditions, upon the occurrence of any event or any
      combination of the foregoing), any Shares or any securities convertible
      into or exercisable for Shares).

              

      

       

      
        	
                (c)  

              	
                Other
      than the filing by Stockholder of any reports with the SEC required by
      Section 13(d) or 16(a) of the Exchange Act, none of the execution and
      delivery of this Agreement by Stockholder, the consummation by Stockholder
      of the transactions contemplated hereby or compliance by Stockholder with
      any of the provisions hereof (i) requires any consent or other permit
      of, or filing with or notification to, any governmental entity or any
      other person by Stockholder, (ii) results in a violation or breach
      of, or constitutes (with or without notice or lapse of time or both) a
      default (or gives rise to any third party right of termination,
      cancellation, material modification or acceleration) under any of the
      terms, conditions or provisions of any organizational document or contract
      to which Stockholder is a party or by which Stockholder or any of
      Stockholder’s properties or assets (including the Owned Shares) may be
      bound, (iii) violates any order or law applicable to Stockholder or
      any of Stockholder’s properties or assets (including the Owned Shares) or
      (iv) results in a lien upon any of Stockholder’s properties or assets
      (including the Owned Shares).

              

      

       

      
        	
                (d)  

              	
                Stockholder
      has received an execution copy of the Merger Agreement and has read the
      Merger Agreement and this Agreement in consultation with his personal
      counsel.

              

      

       

      ARTICLE
4 - ADDITIONAL COVENANTS OF THE STOCKHOLDERS

       

      Section
4.1 Waiver of Appraisal
Rights.  Stockholder hereby waives any rights of appraisal or
rights of dissent from the Merger that Stockholder may have.

       

      Section
4.2 Disclosure.  Stockholder
hereby authorizes Dome and Metalline to publish and disclose in any announcement
or disclosure required by the SEC, Stockholder’s identity and ownership of the
Owned Shares and the nature of Stockholder’s obligation under this Agreement,
provided that Stockholder is provided with a reasonable opportunity to review
and comment on such disclosure.

       

       

       

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      Section
4.3 Non-Interference; Further
Assurances.  Stockholder agrees that prior to the termination
of this Agreement, Stockholder shall not take any action that would make any
representation or warranty of Stockholder contained herein untrue or incorrect
or have the effect of preventing, impeding, interfering with or adversely
affecting the performance by Stockholder of its obligations under this
Agreement. Stockholder agrees, without further consideration, to execute and
deliver such additional documents and to take such further actions as necessary
or reasonably requested by Dome to confirm and assure the rights and obligations
set forth in this Agreement or to consummate the transactions contemplated by
this Agreement.

       

      Section
4.4 No
Solicitation.  Subject to Section 6.13, Stockholder agrees,
solely in his capacity as the Beneficial Owner of the Owned Shares, that he
shall not, and shall cause his Representatives not to, directly or indirectly,
(i) initiate, solicit or knowingly encourage (including by way of providing
information) or knowingly facilitate any inquiries, proposals or offers with
respect to, or the making, or the completion of, a Competing Transaction,
(ii) participate or engage in any discussions or negotiations with, or
furnish or disclose any non-public information relating to Metalline or any of
its subsidiaries to, or otherwise knowingly cooperate with or knowingly assist
any Person in connection with a Competing Transaction, (iii) approve,
endorse or recommend any Competing Transaction, (iv) enter into any letter
of intent, agreement in principle, merger agreement, acquisition agreement,
option agreement or other similar agreement relating to a Competing Transaction,
or (v) resolve, propose or agree to do any of the foregoing, including any
agreement with respect to Stockholder’s potential investment in connection with
any transaction or resulting entity. If, prior to the Expiration Time,
Stockholder receives a proposal with respect to the sale of Shares in connection
with a Competing Transaction, then Stockholder will promptly (and in any event
within 24 hours) inform Dome of the identity of the Person making, and the
material terms of, such proposal.

       

      ARTICLE
5 - TERMINATION

       

      Section
5.1 Termination.  This
Agreement will terminate without further action at the Expiration
Time.

       

      Section
5.2 Effect of
Termination.  Upon termination of this Agreement, the rights
and obligations of all the parties will terminate and become void without
further action by any party except for the provisions of Section 5.1, this
Section 5.2 and Article 6, which will survive such termination. For the
avoidance of doubt, the termination of this Agreement shall not relieve any
party of liability for any breach of this Agreement (excluding an unintentional
breach) prior to the time of termination.

       

      ARTICLE
6 - GENERAL

       

      Section
6.1 Notices.  Any
notice, request, instruction or other communication under this Agreement will be
in writing and delivered by hand or overnight courier service or by facsimile,
(i) if to Stockholder, to the address set forth below his name on the
signature page hereto, and (ii) if to Dome, in accordance with
Section 7.8 of the Merger Agreement, or to such other Persons, addresses or
facsimile numbers as may be designated in writing by the Person entitled to
receive such communication as provided above. Each such communication will be
effective (A) if delivered by hand or overnight courier service, when such
delivery is made at the address specified in this Section 6.1, or (B) if
delivered by facsimile, when such facsimile is transmitted to the facsimile
number specified in this Section 6.1 and appropriate confirmation is
received.

       

       

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      Section
6.2 No Third Party Beneficiaries,
Etc.  This Agreement is not intended to confer any rights or
remedies upon any person other than the parties to this Agreement, or to make
Stockholder responsible for any of Dome’s obligations under the Merger
Agreement.

       

      Section
6.3 Governing Law. This Agreement
will be governed by, and construed in accordance with, the Laws of the State of
Colorado, without giving effect to any applicable principles of conflict of laws
that would cause the Laws of another State to otherwise govern this
Agreement.

       

      Section
6.4 Severability.  The
provisions of this Agreement are severable and the invalidity or
unenforceability of any provision will not affect the validity or enforceability
of the other provisions of this Agreement. If any provision of this Agreement,
or the application of that provision to any Person or any circumstance, is
invalid or unenforceable, (i) a suitable and equitable provision will be
substituted for that provision in order to carry out, so far as may be valid and
enforceable, the intent and purpose of the invalid or unenforceable provision
and (ii) the remainder of this Agreement and the application of that
provision to other Persons or circumstances will not be affected by such
invalidity or unenforceability, nor will such invalidity or unenforceability
affect the validity or enforceability of that provision, or the application of
that provision, in any other jurisdiction.

       

      Section
6.5 Assignment.  Neither
this Agreement nor any right, interest or obligation hereunder may be assigned
by any party hereto, in whole or part (whether by operation of Law or
otherwise), without the prior written consent of the other parties hereto and
any attempt to do so will be null and void.

       

      Section
6.6 Successors.  This
Agreement will inure to the benefit of and be binding upon the parties hereto
and their respective successors and permitted assigns.

       

      Section
6.7 Amendments.  This
Agreement may not be amended except by written agreement signed by all of the
parties to this Agreement.

       

      Section
6.8 Extension;
Waiver.  At any time prior to the Expiration Time, Dome, on the
one hand, and Stockholder, on the other hand, may (i) extend the time for
the performance of any of the obligations of the other party, (ii) waive
any inaccuracies in the representations and warranties of the other party
contained in this Agreement or in any document delivered under this Agreement or
(iii) unless prohibited by applicable Laws, waive compliance with any of
the covenants or conditions contained in this Agreement. Any agreement on the
part of a party to any extension or waiver will be valid only if set forth in an
instrument in writing signed by such party. The failure of any party to assert
any of its rights under this Agreement or otherwise will not constitute a waiver
of such rights.

       

       

       

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      Section
6.9 Fees and
Expenses.  Except as expressly provided in this Agreement, each
party is responsible for its own fees and expenses (including the fees and
expenses of financial consultants, investment bankers, accountants and counsel)
in connection with the entry into of this Agreement and the consummation of the
transactions contemplated hereby.

       

      Section
6.10 Entire Agreement. This
Agreement (including any specific reference to the Merger Agreement) constitutes
the entire agreement and supersedes all other prior agreements, understandings,
representations and warranties, both written and oral, among the parties to this
Agreement with respect to the subject matter of this Agreement.

       

      Section
6.11 Counterparts; Effectiveness;
Execution.  This Agreement may be executed in any number of
counterparts, all of which are one and the same agreement. This Agreement may be
executed by facsimile signature by any party and such signature is deemed
binding for all purposes hereof, without delivery of an original signature being
thereafter required.

       

      Section
6.12 Specific
Performance.  The parties to this Agreement agree that
irreparable damage would occur in the event that any of the provisions of this
Agreement were not performed in accordance with their specific terms or were
otherwise breached. It is accordingly agreed that the parties to this Agreement
will be entitled to an injunction or injunctions to prevent breaches of this
Agreement and to enforce specifically the terms and provisions of this Agreement
in any court of the United States or any state having jurisdiction, this being
in addition to any other remedy to which they are entitled at law or in
equity.

       

      Section
6.13 Action in Stockholder Capacity
Only.  The parties acknowledge that this Agreement is entered
into by Stockholder solely in his capacity as the Beneficial Owner of the Owned
Shares and nothing in this Agreement shall in any way restrict or limit any
action taken or to be taken (or failure to act) by Stockholder in his capacity
as a director or officer of Metalline (but not on his own behalf as the
Beneficial Owner of the Owned Shares) and the taking of any actions (or failure
to act) in his capacity as an officer or director of Metalline will not be
deemed to constitute a breach of this Agreement, regardless of the circumstances
related thereto.

       

      [Remainder
of page intentionally left blank. Signature Page Follows.]

       

       

       

       

       

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      IN
WITNESS WHEREOF, each party hereto has caused this Agreement to be signed as of
the date first written above.

       

      

      
        
          	 	
                  DOME
      VENTURES CORPORATION

                	 
	 	 	 	 
	
                   

                	
                  By:
      

                	 	 
	 	 	Name 	 
	 	 	Title 	 
	 	 	 	 

        

         

         

         

      

      
        
          	 	
                  STOCKHOLDER:

                	 
	 	 	 	 
	
                   

                	
                   

                	 	 
	 	Name	 
	 	 	 	 
	 	 	 	 

        

      

       

       

       

       

      Owned
Shares:

       

      ________________

       

      ________________

       

      Address
for Notices to Stockholder:

       

      C/O
Metalline Mining Company

      1330 E.
Margaret Ave.

      Coeur
d’Alene, ID 83815

       

       

       

       

       

      

8mmg_ex10x3.htm

    Exhibit 10.3

      METALLINE
MINING COMPANY

      2010
STOCK OPTION AND STOCK BONUS PLAN

      

      A.           1.           Purposes of and Benefits
Under the Plan.  This 2010 Stock Option and Stock Bonus Plan
(the “Plan”) is intended to encourage stock ownership by employees, consultants,
officers and directors of Metalline Mining Company and its controlled,
affiliated and subsidiary entities (collectively, the “Corporation”), so that
they may acquire or increase their proprietary interest in the Corporation, and
is intended to facilitate the Corporation’s efforts to:  (i) induce
qualified persons to become employees, officers and directors (whether or not
they are employees) and consultants to the Corporation; (ii) compensate
employees, officers, directors and consultants for services to the Corporation;
and (iii) encourage such persons to remain in the employ of or associated with
the Corporation and to put forth maximum efforts for the success of the
Corporation.  It is further intended that options granted by the
Committee pursuant to Section 6 of this Plan shall constitute “incentive stock
options” (“Incentive Stock Options”) within the meaning of Section 422 of the
Internal Revenue Code, and the regulations issued thereunder, and options
granted by the Committee pursuant to Section 7 of this Plan shall constitute
“non-qualified stock options” (“Non-qualified Stock Options”). “Options” means
options granted pursuant to the provisions of this Plan, whether Incentive Stock
Options or Non-qualified Stock Options.

      

      2.           Definitions.  As
used in this Plan, the following words and phrases shall have the meanings
indicated:

      

      (a)  “Board”
shall mean the Board of Directors of the Corporation.

      

      (b)  “Bonus”
means any Common Stock bonus issued pursuant to the provisions of this
Plan.

      

      (c)  “Committee”
shall mean any Committee appointed by the Board to administer this Plan, if one
has been appointed.  If no Committee has been appointed, the term
“Committee” shall mean the Board.

      

      (d)  “Common
Stock” shall mean the Corporation’s $.01 par value common stock.

      

      (e)  “Disability”
shall mean a Recipient’s inability to engage in any substantial gainful activity
by reason of any medically determinable physical or mental impairment that can
be expected to result in death or that has lasted or can be expected to last for
a continuous period of not less than 12 months.  If the Recipient has
a disability insurance policy, the term “Disability” shall be as defined
therein.

       

       

      
 

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      (f)  “Fair
Market Value” per share as of a particular date shall mean the last sale price
of the Corporation’s Common Stock as reported on a national securities exchange,
or if the quotation for the last sale reported is not available for the
Corporation’s Common Stock, the average of the closing bid and asked prices of
the Corporation’s Common Stock as so reported or, if such quotations are
unavailable, the value determined by the Committee in accordance with its
discretion in making a bona fide, good faith determination of fair market
value.  Fair Market Value shall be determined without regard to any
restriction other than a restriction which, by its terms, never will
lapse.  In the case of Options and Bonuses granted at a time when the
Corporation does not have a registration statement in effect relating to the
shares issuable hereunder, the value at which the Bonus shares are issued may be
determined by the Committee at a reasonable discount from Fair Market Value to
reflect the restricted nature of the shares to be issued and the inability of
the Recipient to sell those shares promptly.

      

      (g)  “Recipient”
means any person granted an Option or awarded a Bonus hereunder.

      

      (h)  “Internal
Revenue Code” shall mean the United States Internal Revenue Code of 1986, as
amended from time to time (codified as Title 26 of the United States Code) and
any successor legislation.

      

      3.           Administration.

      

      (a)  The Plan
shall be administered by the Committee.  The Committee shall have the
authority in its discretion, subject to and not inconsistent with the express
provisions of the Plan, to administer the Plan and to exercise all the powers
and authorities either specifically conferred under the Plan or necessary or
advisable in the administration of the Plan, including the
authority:  to grant Options and Bonuses; to determine the vesting
schedule and other restrictions, if any, relating to Options and Bonuses; to
determine the purchase price of the shares of Common Stock covered by each
Option (the “Option Price”); to determine the persons to whom, and the time or
times at which, Options and Bonuses shall be granted; to determine the number of
shares to be covered by each Option or Bonus; to determine Fair Market Value per
share; to interpret the Plan; to prescribe, amend and rescind rules and
regulations relating to the Plan; to determine the terms and provisions of the
Option agreements (which need not be identical) entered into in connection with
Options granted under the Plan; and to make all other determinations deemed
necessary or advisable for the administration of the Plan.  The
Committee may delegate to one or more of its members or to one or more agents
such administrative duties as it may deem advisable, and the Committee or any
person to whom it has delegated duties as aforesaid may employ one or more
persons to render advice with respect to any responsibility the Committee or
such person may have under the Plan.

      

      (b)  Options
and Bonuses granted under the Plan shall be evidenced by duly adopted
resolutions of the Committee included in the minutes of the meeting at which
they are adopted or in a unanimous written consent.

      

      (c)  The
Committee shall endeavor to administer the Plan and grant Options and Bonuses
hereunder in a manner that is compatible with the obligations of persons subject
to Section 16 of the U.S. Securities Exchange Act of 1934 (the “1934 Act”),
although compliance with Section 16 is the obligation of the Recipient, not the
Corporation.  Neither the Committee, the Board nor the Corporation can
assume any legal responsibility for a Recipient’s compliance with his
obligations under Section 16 of the 1934 Act.

       

       

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      (d)  No member
of the Committee or the Board shall be liable for any action taken or
determination made in good faith with respect to the Plan or any Option or Bonus
granted hereunder.

      

      4.           Eligibility.

      

      (a)  Subject
to certain limitations hereinafter set forth, Options and Bonuses may be granted
to employees (including officers) and consultants to and
directors  (whether or not they are employees) of the Corporation or
its present or future divisions, affiliates and subsidiaries.  In
determining the persons to whom Options or Bonuses shall be granted and the
number of shares to be covered by each Option or Bonus, the Committee shall take
into account the duties of the respective persons, their present and potential
contributions to the success of the Corporation, and such other factors as the
Committee shall deem relevant to accomplish the purposes of the
Plan.

      

      (b)  A
Recipient shall be eligible to receive more than one grant of an Option or Bonus
during the term of the Plan, on the terms and subject to the restrictions herein
set forth.

      

      5.           Stock
Reserved.

      

      (a)  The stock
subject to Options or Bonuses hereunder shall be shares of Common
Stock.  Such shares, in whole or in part, may be authorized but
unissued shares or shares that shall have been or that may be reacquired by the
Corporation.  The aggregate number of shares of Common Stock as to
which Options and Bonuses may be granted from time to time under the Plan shall
not exceed the lower of (i) 30,000,000 shares or (ii) 10% of the total shares
outstanding, subject to adjustment as provided in Section 8(i)
hereof

       

      (b)  If any
Option outstanding under the Plan for any reason expires or is terminated
without having been exercised in full, or if any Bonus granted is forfeited
because of vesting or other restrictions imposed at the time of grant, the
shares of Common Stock allocable to the unexercised portion of such Option or
the forfeited portion of the Bonus shall become available for subsequent grants
of Options and Bonuses under the Plan.

      

      6.           Incentive Stock
Options.

      

      (a)  Options
granted pursuant to this Section 6 are intended to constitute Incentive Stock
Options and shall be subject to the following special terms and conditions, in
addition to the general terms and conditions specified in Section 8
hereof.  Only employees of the Corporation shall be entitled to
receive Incentive Stock Options.

      

      (b)  The
aggregate Fair Market Value (determined as of the date the Incentive Stock
Option is granted) of the shares of Common Stock with respect to which Incentive
Stock Options granted under this and any other plan of the Corporation or any
parent or subsidiary of the Corporation are exercisable for the first time by a
Recipient during any calendar year may not exceed the amount set forth in
Section 422(d) of the Internal Revenue Code.

       

       

      3

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      (c)  Incentive
Stock Options granted under this Plan are intended to satisfy all requirements
for incentive stock options under Section 422 of the Internal Revenue Code and
the Treasury Regulations promulgated thereunder and, notwithstanding any other
provision of this Plan, the Plan and all Incentive Stock Options granted under
it shall be so construed, and all contrary provisions shall be so limited in
scope and effect and, to the extent they cannot be so limited, they shall be
void.

      

      7.           Non-qualified Stock
Options.  Options granted pursuant to this Section 7 are
intended to constitute Non-qualified Stock Options and shall be subject only to
the general terms and conditions specified in Section 8 hereof.

      

      8.           Terms and Conditions of
Options.  Each Option granted pursuant to the Plan shall be
evidenced by a written Option agreement between the Corporation and the
Recipient, which agreement shall be substantially in the form of Exhibit A hereto as
modified from time to time by the Committee in its discretion, and which shall
comply with and be subject to the following terms and conditions:

      

      (a)  Number of
Shares.  Each Option agreement shall state the number of shares
of Common Stock covered by the Option.

      

      (b)
 Type of
Option.  Each Option Agreement shall specifically identify the
portion, if any, of the Option which constitutes an Incentive Stock Option and
the portion, if any, which constitutes a Non-qualified Stock
Option.

      

      (c)  Option
Price.  Subject to adjustment as provided in Section 8 (i)
hereof, each Option agreement shall state the Option Price, which shall be
determined by the Committee subject only to the following
restrictions:

      

      (1)  Each
Option Agreement shall state the Option Price, which (except as otherwise set
forth in paragraphs 8(c)(2) and (3) hereof) shall not be less than 100% of the
Fair Market Value per share on the date of grant of the Option.

      

      (2)  Any
Incentive Stock Option granted under the Plan to a person owning more than ten
percent of the total combined voting power of the Common Stock shall be at a
price of no less than 110% of the Fair Market Value per share on the date of
grant of the Incentive Stock Option.

      

      (3)  Any
Non-qualified Stock Option granted under the Plan shall be at a price determined
and specified by the Board, which price may be an amount less than the Fair
Market Value per share on the date of grant of the Non-qualified Stock
Option.

      

      (4)  The date
on which the Committee adopts a resolution expressly granting an Option shall be
considered the day on which such option is granted, unless a future date is
specified in the resolution.

       

       

      4

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      (d)  Term of
Option.  Each Option agreement shall state the period during
and times at which the Option shall be exercis­able, in accordance with the
following limitations:

      

      (1)  The date
on which the Committee adopts a resolution expressly granting an Option shall be
considered the day on which such Option is granted, unless a future date is
specified in the resolution, although any such grant shall not be effective
until the Recipient has executed an Option agreement with respect to such
Option.

      

      (2)  The
exercise period of any Option shall not exceed ten years from the date of grant
of the Option.

      

      (3)  Incentive
Stock Options granted to a person owning more than ten percent of the total
combined voting power of the Common Stock of the Corporation shall be for no
more than five years.

      

      (4)  The
Committee shall have the authority to accelerate or extend the exercisability of
any outstanding Option at such time and under such circumstances as it, in its
sole discretion, deems appropriate.  In any event, no exercise period
may be so extended to increase the term of the Option beyond ten years from the
date of the grant.

      

      (5)  The
exercise period shall be subject to earlier termination as provided in Sections
8(f) and 8(g) hereof, and, furthermore, shall be terminated upon surrender of
the Option by the holder thereof if such surrender has been authorized in
advance by the Committee.

      

      (e)  Method of Exercise and
Medium and Time of Payment.

      

      (1)  An Option
may be exercised as to any or all whole shares of Common Stock as to which it
then is exercisable, provided, however, that no Option may be exercised as to
less than 100 shares (or such number of shares as to which the Option is then
exercisable if such number of shares is less than 100).

      

      (2)  Each
exercise of an Option granted hereunder, whether in whole or in part, shall be
effected by written notice to the Secretary of the Corporation designating the
number of shares as to which the Option is being exercised, and shall be
accompanied by payment in full of the Option Price for the number of shares so
designated, together with any written statements required by, or deemed by the
Corporation’s counsel to be advisable pursuant to, any applicable securities
laws.

      

      (3)  The
Option Price shall be paid in cash, or in shares of Common Stock having a Fair
Market Value equal to such Option Price, or in property or in a combination of
cash, shares and property and, subject to approval of the Committee, may be
effected in whole or in part with funds received from the Corporation at the
time of exercise as a compensatory cash payment.

       

       

      5

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      (4)  The
Committee shall have the sole and absolute discretion to determine whether or
not property other than cash or Common Stock may be used to purchase the shares
of Common Stock hereunder and, if so, to determine the value of the property
received.

      

      (5)  The
Recipient shall make provision for the withholding of taxes as required by
Section 10 hereof.

      

      (f)  Termination.

      

      (1)  Unless
otherwise provided in the Option Agreement by and between the Corporation and
the Recipient, if the Recipient ceases to be an employee, officer, director or
consultant of the Corporation (other than by reason of death, Disability or
retirement), all Options theretofore granted to such Recipient but not
theretofore exercised shall terminate three months following the date the
Recipient ceased to be an employee, officer, director or consultant of the
Corporation, and shall terminate upon the date of termination of employment or
other relationship if discharged for cause.

      

      (2)  Nothing
in the Plan or in any Option or Bonus granted hereunder shall confer upon an
individual any right to continue in the employ of or other relationship with the
Corporation or interfere in any way with the right of the Corporation to
terminate such employment or other relationship between the individual and the
Corporation.

      

      (g)  Death, Disability or
Retirement of Recipient.  Unless otherwise provided in the
Option Agreement by and between the Corporation and the Recipient, if a
Recipient shall die while an employee, officer, director or consultant of the
Corporation, or within ninety days after the termination of such Recipient as an
employee, officer, director or consultant, other than termination for cause, or
if the Recipient’s relationship with the Corporation shall terminate by reason
of Disability or retirement, all Options theretofore granted to such Recipient
(whether or not otherwise exercisable) unless earlier terminated in accordance
with their terms, may be exercised by the Recipient or by the Recipient’s estate
or by a person who acquired the right to exercise such Options by bequest or
inheritance or otherwise by reason of the death or Disability of the Recipient,
at any time within one year after the date of death, Disability or retirement of
the Recipient; provided, however, that in the case of Incentive Stock Options
such one-year period shall be limited to three months in the case of
retirement.

      

      (h)  Transferability
Restriction.

      

      (1)  Options
granted under the Plan shall not be transferable other than by will or by the
laws of descent and distribution or pursuant to a qualified domestic relations
order as defined by the Internal Revenue Code or Title I of the Employee
Retirement Income Security Act of 1974, or the rules
thereunder.  Options may be exercised during the lifetime of the
Recipient only by the Recipient and thereafter only by his legal
representative.

       

       

      6

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      (2)  Any
attempted sale, pledge, assignment, hypothecation or other transfer of an Option
contrary to the provisions hereof and/or the levy of any execution, attachment
or similar process upon an Option, shall be null and void and without force or
effect and shall result in a termination of the Option.

      

      (3)  (A)  As
a condition to the transfer of any shares of Common Stock issued upon exercise
of an Option granted under this Plan, the Corporation may require an opinion of
counsel, satisfactory to the Corporation, to the effect that such transfer will
not be in violation of the U.S. Securities Act of 1933, as amended (the “1933
Act”) or any other applicable securities laws or that such transfer has been
registered under federal and all applicable state securities
laws.  (B) Further, the Corporation shall be authorized to refrain
from delivering or transferring shares of Common Stock issued under this Plan
until the Committee determines that such delivery or transfer will not violate
applicable securities laws and the Recipient has tendered to the Corporation any
federal, state or local tax owed by the Recipient as a result of exercising the
Option or disposing of any Common Stock when the Corporation has a legal
liability to satisfy such tax.  (C)  The Corporation shall
not be liable for damages due to delay in the delivery or issuance of any stock
certificate for any reason whatsoever, including, but not limited to, a delay
caused by listing requirements of any securities exchange or any registration
requirements under the 1933 Act, the 1934 Act, or under any other state, federal
or provincial law, rule or regulation.  (D)  The Corporation
is under no obligation to take any action or incur any expense in order to
register or qualify the delivery or transfer of shares of Common Stock under
applicable securities laws or to perfect any exemption from such registration or
qualification.  (E) Furthermore, the Corporation will not be liable to
any Recipient for failure to deliver or transfer shares of Common Stock if such
failure is based upon the provisions of this paragraph.

      

      (i)  Effect of Certain
Changes.

      

      (1)  If there
is any change in the number of shares of outstanding Common Stock through the
declaration of stock dividends, or through a recapitalization resulting in stock
splits or combinations or exchanges of such shares, the number of shares of
Common Stock available for Options and the number of such shares covered by
outstanding Options, and the exercise price per share of the outstanding
Options, shall be proportionately adjusted by the Committee to reflect any
increase or decrease in the number of issued shares of Common Stock; provided,
however, that any fractional shares resulting from such adjustment shall be
eliminated.

      

      (2)  In the
event of the proposed dissolution or liquidation of the Corporation, or any
corporate separation or division, including, but not limited to, split-up,
split-off or spin-off, or a merger or consolidation of the Corporation with
another corporation, the Committee may provide that the holder of each Option
then exercisable shall have the right to exercise such Option (at its then
current Option Price) solely for the kind and amount of shares of stock and
other securities, property, cash or any combination thereof receivable upon such
dissolution, liquidation, corporate separation or division, or merger or
consolidation by a holder of the number of shares of Common Stock for which such
Option might have been exercised immediately prior to such dissolution,
liquidation, corporate separation or division, or merger or consolidation; or,
in the alternative the Committee may provide that each Option granted under the
Plan shall terminate as of a date fixed by the Committee; provided, however,
that not less than 30 days’ written notice of the date so fixed shall be given
to each Recipient, who shall have the right, during the period of 30 days
preceding such termination, to exercise the Option as to all or any part of the
shares of Common Stock covered thereby, including shares as to which such Option
would not otherwise be exercisable.

       

       

      7

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      (3)  Paragraph
2 of this Section 8 (i) shall not apply to a merger or consolidation in which
the Corporation is the surviving corporation and shares of Common Stock are not
converted into or exchanged for stock, securities of any other corporation, cash
or any other thing of value.  Notwithstanding the preceding sentence,
in case of any consolidation or merger of another corporation into the
Corporation in which the Corporation is the surviving corporation and in which
there is a reclassification or change (including a change to the right to
receive cash or other property) of the shares of Common Stock (excluding a
change in par value, or from no par value to par value, or any change as a
result of a subdivision or combination, but including any change in such shares
into two or more classes or series of shares), the Committee may provide that
the holder of each Option then exercisable shall have the right to exercise such
Option solely for the kind and amount of shares of stock and other securities
(including those of any new direct or indirect parent of the Corporation),
property, cash or any combination thereof receivable upon such reclassification,
change, consolidation or merger by the holder of the number of shares of Common
Stock for which such Option might have been exercised.

      

      (4)  In the
event of a change in the Common Stock of the Corporation as presently
constituted into the same number of shares with a different par value, the shares
resulting from any such change shall be deemed to be the Common Stock of the
Corporation within the meaning of the Plan.

      

      (5)  To the
extent that the foregoing adjustments relate to stock or securities of the
Corporation, such adjustments shall be made by the Committee, whose
determination in that respect shall be final, binding and conclusive, provided
that each Incentive Stock Option granted pursuant to this Plan shall not be
adjusted in a manner that causes such option to fail to continue to qualify as
an Incentive Stock Option within the meaning of Section 422 of the Internal
Revenue Code.

      

      (6)  Except as
expressly provided in this Section 8(i), the Recipient shall have no rights by
reason of any subdivision or consolidation of shares of stock of any class, or
the payment of any stock dividend or any other increase or decrease in the
number of shares of stock of any class, or by reason of any dissolution,
liquidation, merger, or consolidation or spin-off of assets or stock of another
corporation; and any issue by the Corporation of shares of stock of any class,
or securities convertible into shares of stock of any class, shall not affect,
and no adjustment by reason thereof shall be made with respect to, the number or
price of shares of Common Stock subject to an Option.  The grant of an
Option pursuant to the Plan shall not affect in any way the right or power of
the Corporation to make adjustments, reclassifications, reorganizations or
changes of its capital or business structures, or to merge or consolidate, or to
dissolve, liquidate, or sell or transfer all or any part of its business or
assets.

      

      (j)  No Rights as Shareholder -
Non-Distributive Intent.

       

       

       

      8

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      (1)  Neither a
Recipient of an Option nor such Recipient’s legal representative, heir, legatee
or distributee, shall be deemed to be the holder of, or to have any rights of a
holder with respect to, any shares subject to such Option until after the Option
is exercised and the shares are issued.

      

      (2)  No
adjustment shall be made for dividends (ordinary or extraordinary, whether in
cash, securities or other property) or distributions or other rights for which
the record date is prior to the date such stock certificate is issued, except as
provided in Section 8(i) hereof.

      

      (3)  Upon
exercise of an Option at a time when there is no registration statement in
effect under the 1933 Act relating to the shares issuable upon exercise, shares
may be issued to the Recipient only if the Recipient represents and warrants in
writing to the Corporation that the shares purchased are being acquired for
investment and not with a view to the distribution thereof and provides the
Corporation with sufficient information to establish an exemption from the
registration requirements of the 1933 Act.  A form of subscription
agreement containing representations and warranties deemed sufficient as of the
date of adoption of this Plan is attached hereto as Exhibit
B.

      

      (4)  No shares
shall be issued upon the exercise of an Option unless and until there shall have
been compliance with any then applicable requirements of the U.S. Securities and
Exchange Commission or any other regulatory agencies having jurisdiction over
the Corporation.

      

      (k)  Other
Provisions.  Option Agreements authorized under the Plan may
contain such other provisions, including, without limitation, (i) the imposition
of restrictions upon the exercise, and (ii) in the case of an Incentive Stock
Option, the inclusion of any condition not inconsistent with such Option
qualifying as an Incentive Stock Option, as the Committee shall deem
advisable.

      

      9.           Grant of Stock
Bonuses.  In addition to, or in lieu of, the grant of an
Option, the Committee may grant Bonuses.

      

      (a)  At the
time of grant of a Bonus, the Committee may impose a vesting period of up to ten
years, and such other restrictions which it deems appropriate.  Unless
otherwise directed by the Committee at the time of grant of a Bonus, the
Recipient shall be considered a shareholder of the Corporation as to the Bonus
shares which have vested in the grantee at any time regardless of any forfeiture
provisions which have not yet arisen.

      

      (b)  The grant
of a Bonus and the issuance and delivery of shares of Common Stock pursuant
thereto shall be subject to approval by the Corporation’s counsel of all legal
matters in connection therewith, including compliance with the requirements of
the 1933 Act, the 1934 Act, other applicable securities laws, rules and
regulations, and the requirements of any stock exchanges upon which the Common
Stock then may be listed.  Any certificates prepared to evidence
Common Stock issued pursuant to a Bonus grant shall bear legends as the
Corporation’s counsel may seem necessary or advisable.  Included among
the foregoing requirements, but without limitation, any Recipient of a Bonus at
a time when a registration statement relating thereto is not effective under the
1933 Act shall execute a Subscription Agreement substantially in the form of
Exhibit
B.

       

       

      9

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      10.           Agreement by Recipient
Regarding Withholding Taxes.  Each Recipient agrees that the
Corporation, to the extent permitted or required by law, shall deduct a
sufficient number of shares due to the Recipient upon exercise of the Option or
the grant of a Bonus to allow the Corporation to pay federal, provincial, state
and local taxes of any kind required by law to be withheld upon the exercise of
such Option or payment of such Bonus from any payment of any kind otherwise due
to the Recipient.  The Corporation shall not be obligated to advise
any Recipient of the existence of any tax or the amount which the Corporation
will be so required to withhold.

      

      11.           Term of
Plan.  Options and Bonuses may be granted under this Plan from
time to time within a period of ten years from the date the Plan is adopted by
the Board.

      

      12.           Amendment and Termination of
the Plan.

      

      (a)           (1)           Subject
to the policies, rules and regulations of any lawful authority having
jurisdiction (including any exchange with which the shares of the Corporation
are listed for trading), the Board of Directors may at any time, without further
action by the shareholders, amend the Plan or any Option granted hereunder in
such respects as it may consider advisable and, without limiting the generality
of the foregoing, it may do so to ensure that Options granted hereunder will
comply with any provisions respecting stock options in the income tax and other
laws in force in any country or jurisdiction of which any Option holders may
from time to time be a resident or citizen, or it may at any time without action
by shareholders terminate the Plan.

      

      (2)           provided,
however, that any amendment that would:  (A) materially increase the
number of securities issuable under the Plan to persons who are subject to
Section 16(a) of the 1934 Act; or (B)  grant eligibility to a class of
persons who are subject to Section 16(a) of the 1934 Act and are not included
within the terms of the Plan prior to the amendment; or (C) materially increase
the benefits accruing to persons who are subject to Section 16(a) of the 1934
Act under the Plan; or (D) require shareholder approval under applicable state
law, the rules and regulations of any national securities exchange on which the
Corporation’s securities then may be listed, the Internal Revenue Code or any
other applicable law, shall be subject to the approval of the shareholders of
the Corporation as provided in Section 13 hereof.

      

      (3)           provided
further that any such increase or modification that may result from adjustments
authorized by Section 8(i) hereof or which are required for compliance with the
1934 Act, the Internal Revenue Code, the Employee Retirement Income Security Act
of 1974, their rules or other laws or judicial order, shall not require such
approval of the shareholders.

       

       

      
10

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      (b)           Except
as provided in Section 8 hereof, no suspension, termination, modification or
amendment of the Plan may adversely affect any Option previously granted, unless
the written consent of the Recipient is obtained.

      

      13.           Approval of
Shareholders.  The Plan shall take effect upon its adoption by
the Board but shall be subject to approval at a duly called and held meeting of
stockholders in conformance with the vote required by the Corporation’s
governing documents, resolution of the Board, any other applicable law and the
rules and regulations thereunder, or the rules and regulations of any national
securities exchange upon which the Corporation’s Common Stock is listed and
traded, each to the extent applicable.

      

      14.           Termination of Right of
Action.  Every right of action arising out of or in connection
with the Plan by or on behalf of the Corporation or any of its subsidiaries, or
by any shareholder of the Corporation or any of its subsidiaries against any
past, present or future member of the Board, or against any employee, or by an
employee (past, present or future) against the Corporation or any of its
subsidiaries, will, irrespective of the place where an action may be brought and
irrespective of the place of residence of any such shareholder, director or
employee, cease and be barred by the expiration of three years from the date of
the act or omission in respect of which such right of action is alleged to have
risen.

      

      15.           Tax
Litigation.  The Corporation shall have the right, but not the
obligation, to contest, at its expense, any tax ruling or decision,
administrative or judicial, on any issue which is related to the Plan and which
the Board believes to be important to holders of Options issued under the Plan
and to conduct any such contest or any litigation arising therefrom to a final
decision.

      

      16.           Adoption.

      

      (a)  This Plan
was approved by resolution of the Board of Directors of the Corporation on
December 22, 2009.

      

      (b)  If this
Plan is not approved by the shareholders of the Corporation within 12 months of
the date the Plan was approved by the Board as required by Section 422(b)(1) of
the Internal Revenue Code, this Plan and any Options granted hereunder to
Recipients shall be and remain effective, but the reference to Incentive Stock
Options herein shall be deleted and all Options granted hereunder shall be
Non-qualified Stock Options pursuant to Section 7 hereof.

      

      17.           Governing Law, Consent to
Personal Jurisdiction.  This Plan will be governed by the
internal laws of the State of Colorado without regard to rules regarding
conflicts of laws.  Each Recipient consents to the personal
jurisdiction of the state and federal courts located in Colorado for any lawsuit
filed there against the Recipient by the Company arising from or relating to
this Plan. Any controversy or claim arising out of or relating to this Plan or
shall be settled by arbitration in the City and County of Denver, Colorado in
accordance with the rules then existing of the American Arbitration Association
and judgment upon the award may be entered in any court having jurisdiction
thereof.

       

      [End of
Plan]

       

       

      
11

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       Exhibit
A

      

       

      FORM OF STOCK OPTION
AGREEMENT

      

      

      STOCK OPTION AGREEMENT made as of this
___ day of ____________, ______, by and between Metalline Mining Company, a
Nevada corporation (the “Corporation”), and ________________
__________________________ (the “Recipient”).

      

      In accordance with the Corporation’s
2010 Stock Option and Stock Bonus Plan (the “Plan”), the provisions of which are
incorporated herein by reference, the Corporation desires, in connection with
the services of the Recipient, to provide the Recipient with an opportunity to
acquire shares of the Corporation’s $.01 par value common stock (“Common Stock”)
on favorable terms and thereby increase the Recipient’s proprietary interest in
the Corporation and incentive to put forth maximum efforts for the success of
the business of the Corporation.  Capitalized terms used but not
defined herein are used as defined in the Plan.

      

      NOW, THEREFORE, in consideration of the
premises and mutual covenants herein set forth and other good and valuable
consideration, the Corporation and the Recipient agree as follows:

      

      1.  Confirmation of Grant of
Option.  Pursuant to a determination of the Committee or, in
the absence of a Committee, by the Board of Directors of the Corporation made on
___________, _____ (the “Date of Grant”), the Corporation, subject to the terms
of the Plan and of this Agreement, confirms that the Recipient has been
irrevocably granted on the Date of Grant, as a matter of separate inducement and
agreement, and in addition to and not in lieu of salary or other compensation
for services, a Stock Option (the “Option”) exercisable to purchase an aggregate
of ______ shares of Common Stock on the terms and conditions herein set forth,
subject to adjustment as provided in Paragraph 8 hereof.

      

      2.  Option
Price.  The Option Price of shares of Common  Stock
covered by the Option will be $_____ per share (the “Option Price”) subject to
adjustment as provided in Paragraph 8 hereof.

      

      3.  Vesting and Exercise of
Option.  (a)  Except as otherwise provided herein or
in Section 8 of the Plan, the Option [shall vest and become exercisable as
follows:  (insert vesting schedule), provided, however, that no option
shall vest or become exercisable unless the Recipient is an employee of the
Corporation on such vesting date/or may be exercised in whole or in part at any
time during the term of the Option.]  (b)  The Option
may not be exercised at any one time as to fewer than 100 shares (or such number
of shares as to which the Option is then exercisable if such number of shares is
less than 100).  (c)  The Option may be exercised by written
notice to the Secretary of the Corporation accompanied by payment in full of the
Option Price as provided in Section 8 of the Plan.

       

       

      
 

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      4.  Term of
Option.  The term of the Option will be through __________,
____, subject to earlier termination or cancellation as provided in this
Agreement.  The holder of the Option will not have any rights to
dividends or any other rights of a shareholder with respect to any shares of
Common Stock subject to the Option until such shares shall have been issued (as
evidenced by the appropriate transfer agent of the Corporation) upon purchase of
such shares through exercise of the Option.

      

      5.  Transferability
Restriction.  The Option may not be assigned, transferred or
otherwise disposed of, or pledged or hypothecated in any way (whether by
operation of law or otherwise) except in strict compliance with Section 8 of the
Plan.  Any assignment, transfer, pledge, hypothecation or other
disposition of the Option or any attempt to make any levy of execution,
attachment or other process will cause the Option to terminate immediately upon
the happening of any such event; provided, however, that any such termination of
the Option under the provisions of this Paragraph 5 will not prejudice any
rights or remedies which the Corporation may have under this Agreement or
otherwise.

      

      6.  Exercise Upon
Termination.  The Recipient’s rights to exercise this Option
upon termination of employment or cessation of service as an officer, director
or consultant shall be as set forth in Section 8(f) of the Plan.

      

      7.  Death, Disability or
Retirement of Recipient.  The exercisability of this Option
upon the death, Disability or retirement of the Recipient shall be as set forth
in Section 8(g) of the Plan.

      

      8.  Adjustments.  The
Option shall be subject to adjustment upon the occurrence of certain events as
set forth in Section 8(i) of the Plan.

      

      9.  No Registration
Obligation.  The Recipient understands that the Option is not
registered under the 1933 Act and, unless by separate written agreement, the
Corporation has no obligation to so register the Option or any of the shares of
Common Stock subject to and issuable upon the exercise of the Option, although
it may from time to time register under the 1933 Act the shares issuable upon
exercise of Options granted pursuant to the Plan.  The Recipient
represents that the Option is being acquired for the Recipient’s own account and
that unless registered by the Corporation, the shares of Common Stock issued on
exercise of the Option will be acquired by the Recipient for
investment.  The Recipient understands that the Option is, and the
underlying securities may be, issued to the Recipient in reliance upon
exemptions from the 1933 Act, and acknowledges and agrees that all certificates
for the shares issued upon exercise of the Option may bear the following legend
unless such shares are registered under the 1933 Act prior to their
issuance:

      

      The
shares represented by this Certificate have not been registered under the
Securities Act of 1933 (the “1933 Act”), and are “restricted securities” as that
term is defined in Rule 144 under the 1933 Act.  The shares may not be
offered for sale, sold or otherwise transferred except pursuant to an effective
registration statement under the 1933 Act or pursuant to an exemption from
registration under the 1933 Act, the availability of which is to be established
to the satisfaction of the Company.

       

      
2

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      The Recipient further understands and
agrees that the Option may be exercised only if at the time of such exercise the
underlying shares are registered and/or the Recipient and the Corporation are
able to establish the existence of an exemption from registra­tion under the
1933 Act and applicable state or other laws.

      

      10.  Notices.  Each
notice relating to this Agreement will be in writing and delivered in person or
by certified mail to the proper address.  Notices to the Corporation
shall be addressed to the Corporation, attention:  Merlin D. Bingham,
President, at such address as may constitute the Corporation’s principal place
of business at the time, with a copy to: Theresa M. Mehringer, Esq., Burns, Figa
& Will, P.C., 6400 S. Fiddlers Green Circle, Suite 1000, Greenwood Village,
Colorado  80111.  Notices to the Recipient or other person
or persons then entitled to exercise the Option shall be addressed to the
Recipient or such other person or persons at the Recipient’s address below
specified.  Anyone to whom a notice may be given under this Agreement
may designate a new address by notice to that effect given pursuant to this
Paragraph  10.

      

      11.  Approval of
Counsel.  The exercise of the Option and the issuance and
delivery of shares of Common Stock pursuant thereto shall be subject to approval
by the Corporation’s counsel of all legal matters in connection therewith,
including compliance with the requirements of the 1933 Act, the Securities
Exchange Act of 1934, as amended, applicable state and other securities laws,
the rules and regulations thereunder, and the requirements of any national
securities exchange(s) upon which the Common Stock then may be
listed.

      

      12.  Benefits of
Agreement.  This Agreement will inure to the benefit of and be
binding upon each successor and assignee of the Corporation.  All
obligations imposed upon the Recipient and all rights granted to the Corporation
under this Agreement will be binding upon the Recipient’s heirs, legal
representatives and successors.

      

      13.  Effect of Governmental and
Other Regulations.  The exercise of the Option and the
Corporation’s obligation to sell and deliver shares upon the exercise of the
Option are subject to all applicable federal and state laws, rules and
regulations, and to such approvals by any regulatory or governmental agency
which may, in the opinion of counsel for the Corporation, be
required.

      

      14.  Plan
Governs.  In the event that any provision in this Agreement
conflicts with a provision in the Plan, the provision of the Plan shall
govern.

      

      15.      Governing Law, Consent to
Personal Jurisdiction.  This Plan will be governed by the
internal laws of the State of Colorado without regard to rules regarding
conflicts of laws.  Each Recipient consents to the personal
jurisdiction of the state and federal courts located in Colorado for any lawsuit
filed there against the Recipient by the Company arising from or relating to
this Plan. Any controversy or claim arising out of or relating to this Plan or
shall be settled by arbitration in the City and County of Denver, Colorado in
accordance with the rules then existing of the American Arbitration Association
and judgment upon the award may be entered in any court having jurisdiction
thereof.

       

       

      3

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      Executed in the name and on behalf of
the Corporation by one of its duly authorized officers and by the Recipient all
as of the date first above written.

       

       

      
        
          	 	
                  METALLINE
      MINING COMPANY

                	 
	 	 	 	 
	
                  Date
      ___________,_______

                	
                  By:
      

                	 	 
	 	 	Merlin
      D. Bingham, President	 
	 	 	 	 
	 	 	 	 

        

      

      

      The undersigned Recipient has read and
understands the terms of this Option Agreement and the attached Plan and hereby
agrees to comply therewith.

       

       

      
        
          	 	 	 
	 	 	 	 
	
                  Date 
      __________, ________

                	 	 
	 	Signature
      of Recipient	 
	 	 	 
	 	Tax
      ID Number:	 	 
	 	 	 	 
	 	Address:	 	 
	
                   

                   

                	 	 	 

        

      

       

       

       

      

      4

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       Exhibit
B

      SUBSCRIPTION
AGREEMENT

      

      THE
SECURITIES BEING ACQUIRED BY THE UNDERSIGNED HAVE NOT BEEN REGISTERED UNDER THE
U.S. SECURITIES ACT OF 1933 OR ANY OTHER LAWS AND ARE OFFERED UNDER EXEMPTIONS
FROM THE REGISTRATION PROVISIONS OF SUCH LAWS.  THESE SECURITIES
CANNOT BE SOLD, TRANSFERRED, ASSIGNED OR OTHERWISE DISPOSED OF EXCEPT IN
COMPLIANCE WITH THE RESTRICTIONS ON TRANSFER CONTAINED IN THIS STOCK
SUBSCRIPTION AGREEMENT AND APPLICABLE SECURITIES LAWS.

      

      This Subscription Agreement is entered
for the purpose of the undersigned acquiring _____________ shares of the $.01
par value common stock (the “Securities”) of Metalline Mining Company, a Nevada
corporation (the “Corporation”) from the Corporation as a Bonus or pursuant to
exercise of an Option granted pursuant to the Corporation's
2010  Stock Option and Stock Bonus Plan (the “Plan”). All capitalized
terms not otherwise defined herein shall be as defined in the Plan.

      

      It is understood that no grant of any
Bonus or exercise of any Option at a time when no registration statement
relating thereto is effective under the U.S. Securities Act of 1933, as amended
(the “1933 Act”) can be completed until the undersigned executes this
Subscription Agreement and delivers it to the Corporation, and that such grant
or exercise is effective only in accordance with the terms of the Plan and this
Subscription Agreement.

      

      In connection with the undersigned’s
acquisition of the Securities, the undersigned represents and warrants to the
Corporation as follows:

      

      1.           The
undersigned has been provided with, and has reviewed the Plan, and such other
information as the undersigned may have requested of the Corporation regarding
its business, operations, management, and financial condition (all of which is
referred to herein as the “Available Information”).

      

      2.           The
Corporation has given the undersigned the opportunity to ask questions of and to
receive answers from persons acting on the Corporation’s behalf concerning the
terms and conditions of this transaction and the opportunity to obtain any
additional information regarding the Corporation, its business and financial
condition or to verify the accuracy of the Available Information which the
Corporation possesses or can acquire without unreasonable effort or
expense.

      

      3.           The
Securities are being acquired by the undersigned for the undersigned’s own
account and not on behalf of any other person or entity.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      4.           The
undersigned understands that the Securities being acquired hereby have not been
registered under the 1933 Act or any state or foreign securities laws, and are,
and unless registered will continue to be, restricted securities within the
meaning of Rule 144 of the General Rules and Regulations under the 1933 Act and
other statutes, and the undersigned consents to the placement of appropriate
restrictive legends on any certificates evidencing the Securities and any
certificates issued in replacement or exchange therefor and acknowledges that
the Corporation will cause its stock transfer records to note such
restrictions.

      

      5.           By
the undersigned’s execution below, it is acknowledged and understood that the
Corporation is relying upon the accuracy and completeness hereof in complying
with certain obligations under applicable securities laws.

      

      6.           This
Agreement binds and inures to the benefit of the representatives, successors and
permitted assigns of the respective parties hereto.

      

      7.           The
undersigned acknowledges that the grant of any Bonus or Option and the issuance
and delivery of shares of Common Stock pursuant thereto shall be subject to
prior approval by the Corporation’s counsel of all legal matters in connection
therewith, including compliance with the requirements of the 1933 Act and other
applicable securities laws, the rules and regulations thereunder, and the
requirements of any national securities exchange(s) upon which the Common Stock
then may be listed.

      

      8.           The
undersigned acknowledges and agrees that the Corporation has withheld
___________ shares for the payment of taxes as a result of the grant of the
Bonus or the exercise of an Option.

      

      9.           The
Plan is incorporated herein by reference.  In the event that any
provision in this Agreement conflicts with ANY provision in the Plan, the
provisions of the Plan shall govern.

       

       

       

      
         

        
          
            	 	 	 
	 	 	 	 
	
                    Date 
      __________, ________

                  	 	 
	 	Signature
      of Recipient	 
	 	 	 
	 	Tax
      ID Number:	 	 
	 	 	 	 
	 	Address:	 	 
	
                     

                     

                  	 	 	 

          

        

         

         

         

      

       

       

      2

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