Document:

EXPORATION
AND OPTION

 AGREEMENT

 

BETWEEN

 

WALKER
RIVER RESOURCES CORP

 

AND

 

NEVADA
CANYON GOLD CORP.

 

    	 	 	 

    	 	 	 

    

 

EXPLORATION
AGREEMENT WITH OPTION TO FORM JOINT VENTURE

 

THIS
EXPLORATION AGREEMENT WITH OPTION TO FORM JOINT VENTURE (LAPON CANYON PROPERTY) (the “Agreement”) is made effective
this 15th day of September, 2015 (the “Effective Date”).

 

BETWEEN:

 

WALKER
RIVER RESOURCES CORP., (“WRR”) a
british columbia company, with an office at 551 Howe st.-suite 200 Vancouver, B.C.
v6c 2c2 

 

Fax
Number:
819 825-1199

 

	And:	NEVADA
                                         CANYON GOLD CORP., (“NCG”) a
                                         nevada limited liability company, with an office at 1495 Ridgeview Drive, Suite 220 Reno,
                                         Nevada 89509

 

Fax
Number: 888 909-1033

 

RECITALS

 

A. WRR
owns 100% undivided interest the Lapon Canyon gold project consists of 36 claims (720 acres/292 hectares), situated about 60 kilometres
south of Yerington, Nev., in the Wasuk Range, within Mineral County. (the “Lapon Canyon Claims”) The Lapon Canyon
Claims are more particularly described on Exhibit A-1 attached hereto.

 

B. WRR
and NCG are parties to the letter of intent dated July __, 2015. The parties desire to formalize the agreement represented by
the letter of intent. The letter of intent is superseded and replaced by this Agreement.

 

C. WRR
entered into a “Mining Lease and Option to Purchase Agreement” dated March 1, 2013 (the “Mining Lease”)
with the Beneficiaries of the Donald Potts Family Trust, a California Family Trust, as lessor. The Mining Lease consists of 36
claims (720 acres/292 hectares) of fee land situated in Mineral County, Nevada (the “Fee Land”). The Fee Land is more
particularly described in Exhibit B-1 attached hereto. The Mining Lease is subject to a first amendment dated March 1, 2014. Rental
payments of $13,500 in advance for each three month period during the term of the Lease and any renewal commencing on March 1,
2013 for four years ending March 1, 2017 with an option to renew for four (4) additional years.

 

D. The
Lapon Canyon Claims are subject to total underlying Net Smelter Return Royalties (“NSR”) of 2% payable to three parties.
The NSR’s are more particularly described in Exhibit C-1 attached hereto.

 

E. The
agreements described in Recitals C and D may be referred to as the “Underlying Agreements” which in the singular means
each of and, collectively, both of the two agreements.

 

F. The
Lapon Canyon Claims (together with all contractual rights related thereto) shall be referred to collectively as the “Property”.
The term Property shall include all ores, minerals, surface and mineral rights, and the right to explore, mine, and remove
the same, and all water rights and improvements, easements, licenses, rights of way, and other interests of pertinence thereto.
The Property shall also apply to any additional rights and interests acquired in the Area of Interest.

 

    	 	 	 

    	 	 	 

    

 

G.
NCG wishes to acquire a 50% interest in the Property by making certain exploration expenditures in a work program on the Property
pursuant to Section 3 of this Agreement.

 

H. WRR
shall be the operator of exploration commencing on the Effective Date and continuing through the earn-in period.

 

I. Following
completion of the work program and satisfaction of the terms and conditions of Section 3 of this Agreement, WRR and NCG may form
a Joint Venture for further exploration and development of the Property.

 

In
consideration of the recitals and valuable consideration, the receipt and sufficiency of which are acknowledged, the parties agree
as follows:

 

 1. DEFINITIONS

 

	1.1	In
                                         this Agreement and in the schedules attached to it, unless the context otherwise requires,
                                         the following terms shall have the following meanings for all purposes hereof:
	 	 
	(a)	“Exploration
                                         Expenditures” means all costs incurred for the benefit of the Property for
                                         Exploration Work pursuant to this Agreement, including but not limited to: (a) salaries,
                                         wages and costs of benefits, labor expenses and travel and living expenses for WRR and
                                         NCG employees employed directly or for the benefit of the property; (b) costs and expenses
                                         of equipment, machinery, materials and supplies; (c) all payments to contractors for
                                         work on or for the benefit of the Property; (d) cost of sampling, assays, metallurgical
                                         testing and analyses and other costs to determine the quantity and quality of minerals
                                         on the Property; (e) costs incurred to apply for and obtain approvals, consents, licenses,
                                         permits and rights-of-way and other similar rights in connection with activities on the
                                         Property; (f) costs incurred for the administration of this Agreement; (g) expenses and
                                         payment of rentals, bonuses, minimum advance royalties and other payments pursuant to
                                         the Underlying Agreement, if any; (h) costs and expenses of performance of annual assessment
                                         work, if required to be performed; (i) costs and expenses of payment of federal annual
                                         mining claim maintenance fees and filing and recording of proof of payment of federal
                                         annual claim maintenance fees; (j) costs and expenses of payment of all required county
                                         recording fees; (k) all costs and expenses for the performance of all obligations under
                                         the Underlying Agreement, if any; (l) all taxes and assessments levied against the Property;
                                         (m) costs incurred to acquire new properties in the Area of Interest; and (m) an Expenditure
                                         Amount before the formation of the Joint Venture in the manner prescribed in Section
                                         3.1.

 

	(b)	“Exploration
                                         Work” means the all activities directed toward ascertaining the existence,
                                         location, quantity, quality or commercial value of deposits of minerals on the Property.
	 	 
	(c)	“Effective
                                         Date” means September 15, 2015.
	 	 
	(d)	“Area
                                         of Mutual Interest” means only the lands within one (1) mile from the exterior
                                         boundaries of the unpatented mining claims which constitute the Property as of the Effective
                                         Date. This Section shall apply only to interests and rights which are in the Area of
                                         Interest and to any unpatented mining claims located by a party to the extent any portion
                                         of any such unpatented mining claims are within the Area of Interest.
	 	 
	(e)	“Royalty”
                                         means the percentage of the underlying Net Smelter Royalties (NSR) payable in connection
                                         with commencement of commercial production which are payable to the owner(s) of the underlying
                                         NSR’s (but specifically not including any ores owned by either of the parties hereto).

 

    	 	 	 

    	 	 	 

    

 

	(f)	“Property”
                                         means the unpatented mining claims (including all appurtenances) described in Exhibit
                                         A-1, or on any exhibit or schedule which is part of Exhibit A, and all other easements,
                                         licenses, mineral interests, rights-of-way, surface use rights and interests in real
                                         property which are acquired and held subject to this Agreement, including any of the
                                         same acquired in the Area of Interest in accordance with Section 3.2.

 

2.
REPRESENTATIONS, WARRANTIES AND COVENANTS

 

2.1
WRR represents and warrants that:

 

	(a)	It
                                         is the sole owner of all rights, title and interest in and to the Property.
	 	 
	(b)	Except
                                         as described in Exhibit A, with respect to the Property there are no pending or, to its
                                         knowledge, threatened actions, administrative investigations, suits, claims or proceedings.
	 	 
	(c)	WRR
                                         has made available for inspection by NCG all geologic, engineering and other data in
                                         its possession pertaining to the Property. WRR makes no representation concerning the
                                         accuracy of any such information or with respect to the nature, quality, extent or any
                                         other characteristic of the mineral resources, if any, located on the Property.
	 	 
	(d)	WRR
(a) has the capacity to enter into and to perform this Agreement and all corporate and other actions required to authorize WRR
to enter into and perform this Agreement have been properly taken; (b) will not breach any other agreement or arrangement by entering
into or performing this Agreement; and (c) has properly executed this Agreement and that this Agreement is WRR’s valid and
binding legal obligation enforceable in accordance with its terms.

 

	(e)	WRR
                                         is a corporation duly incorporated and in good standing in its jurisdiction of incorporation
                                         and that it is qualified to do business and is in good standing in the states where necessary
                                         in order to carry out the purposes of this Agreement.
	 	 
	(f)	The
                                         Properties are free of all claims, liens, charges and encumbrances of whatsoever nature.
	 	 
	(g)	It
                                         has the power and authority to carry on its business and to make this Agreement and any
                                         agreement that is contemplated by this Agreement.
	 	 
	(h)	Neither
                                         the making nor performing of this Agreement or any of the agreements contemplated by
                                         it conflict with, breach or accelerate the performance of any other agreement that it
                                         has made.
	 	 
	(i)	The
making of this Agreement and any agreements contemplated by it does not violate or breach its organizational documents or the
laws of any applicable jurisdiction or regulatory body and has been authorized by its board of directors.

 

2.2
WRR indemnifies and holds NGC harmless , their respective managers, members, directors, officers, employees and contractors for
any previously incurred costs, damages, fees and liabilities incurred by WRR defending any actions, claims or proceedings arising
from a claim by a third party relating to the Property.

 

    	 	 	 

    	 	 	 

    

 

2.3
NGC represents and warrants that:

 

	(a)	It
    is duly organized in accordance with the laws of the State of Nevada and is in good standing in its incorporating and operating
    jurisdictions.
	 	 
	(b)	It
    has the power and authority to carry on its business and to make this Agreement and any agreement that is contemplated by
    this Agreement.
	 	 
	(c)	Neither
    the making nor performing of this Agreement or any of the agreements contemplated by it conflict with, breach or accelerate
    the performance of any other agreement.
	 	 
	(d)	The
    making of this Agreement and any agreements contemplated by it does not violate or breach its organizational documents or
    the laws of any applicable jurisdiction or regulatory body and has been authorized by its board of directors.

 

2.4
Each Party acknowledges that the other Party is relying on the foregoing representations and warranties being true and correct
in making this Agreement and that the representations and warranties survive the making of this Agreement.

 

3.
EXPLORATION AGREEMENT

 

3.1
Option to Earn 50% Interest. WRR hereby grants to WRR the exclusive option to earn
an undivided fifty percent (50%) interest in the Property by funding FIVE HUNDRED THOUSAND DOLLARS ($500,000.00) in exploration
activities and expenditures during a two-year period.

 

(a) NGC
agrees to spend a minimum of TWO HUNDRED-FIFTY THOUSAND DOLLARS ($250,000.00) in Exploration Expenditures on the Property (the
“First Option”) and will earn an undivided twenty-five percent (25%) interest in the Property, within one (1) year
following the Effective Date. The term “Exploration Expenditures” shall include monies expended on geological, geophysical,
and geochemical surveys on the Property; sampling, trenching, drilling, and assaying.

 

(b) Thereafter,
NGC agrees to spend an additional $250,000 in exploration expenditures in year two (2) (the “Second Option”) will
acquire a total undivided fifty percent (50%) interest in the Property.

 

(c) Any
excess of expenditures in one year shall be carried forward as a credit against the subsequent years’ expenditures. Any
shortfall in expenditures can be made up in the following year with WRR’s consent. Absent such consent, a shortfall in expenditures
shall be paid to WRR at the end of each contract year, provided the provisions of Section 20 have not been invoked or the Agreement
has not been terminated in accordance with Section 8 below.

 

(d) At
such time as NGC has expended FIVE HUNDRED THOUSAND DOLLARS ($500,000.00) in exploration expenditures in accordance with Sections
3.1(a) and 3.1(b) above, NGC will have earned an undivided 50% interest in the Property. The parties shall then proceed to form
a Joint Venture in accordance with Section 5 below.

 

3.2
Funding of Exploration Activities. Concurrent with the execution of this Agreement,
NGC will open the “NGC Lapon Canyon Account” at the Neil Rd. branch of U.S. Bank in Reno, Nevada. This account shall
be used exclusively to pay costs associated with the Lapon Canyon Project. Prior to the commencement of each contract quarter,
WRR shall prepare a general plan and budget (“Plan”) setting forth the description and amount of WRR’s proposed
exploration expenditures for the quarter. NGC shall review and comment upon the Plan within fifteen (15) days of its submission.
However, WRR, as Operator during the earn-in period, shall have the final say regarding the Plan.

 

    	 	 	 

    	 	 	 

    

 

3.3
Bonding. The parties agree to diligently prepare, execute, and submit applications to the Bureau of Land Management and
the Nevada Division of Environmental Protection for any required bonds and permits as required in the Exploration Program.

 

3.4
Claim Maintenance. WRR shall have the obligation to ensure the claims are maintained in good standing the federal claim
maintenance fees are paid to the Nevada Bureau of Land Management by the annual due dates, as defined in the Mining Lease and
Option to Purchase Agreement with Potts.

 

3.5
Maintenance of Contracts. For so long as this Agreement remains in good standing, WRR shall timely pay all monies and satisfy
all other obligations required by the Mining Lease and Option to Purchase Agreement. In particular, NGC may make the rental payments
required by Section 1.2 of the Mining Lease with Potts Family, which payments shall be credited against the Exploration Expenditure
requirements.

 

3.6
Area of Interest. The parties hereby establish an Area of Interest extending two (2) mile from the exterior boundaries
of the property, which is depicted on the map attached hereto as Exhibit A-2. Any mineral claims or rights acquired by either
WRR or NGC within the Area of Interest shall be subject to the terms of this Agreement.

 

4.
CONDUCT OF EXPLORATION WORK

 

The
following provisions shall govern exploration activities on the Property during the term of the Exploration Agreement described
in Section 1 above.

 

4.1
Conduct of Work. WRR shall perform its exploration activities on the Property in
accordance with good mining practice, shall comply with the applicable laws and regulations relating to the performance of exploration
and mining operations on the Property, and shall comply with the applicable worker’s compensation laws of the State of Nevada.

 

4.2 Liability.
WRR as operator shall defend, indemnify, and hold the Property owners and NGC harmless from any claims, demands, or
liabilities arising from or relating to WRR’s activities on the Property.

 

4.3
Liens. WRR shall keep the Property free and clear from any and all mechanics’
or laborers’ liens arising from labor performed on or material furnished to the Property at WRR’s request. However,
a lien on the Property shall not constitute a default if WRR, in good faith, disputes the validity of the claim, in which event
the existence of the lien shall constitute a default thirty (30) days after the validity of the lien has been adjudicated adversely
to WRR.

 

4.4
Acquisition of Permits. WRR shall acquire all federal, state, and local permits required
for its operations. WRR shall be responsible for reclamation of only those areas disturbed by WRR’s activities. WRR will
post any operating and reclamation bonds required by regulatory agencies for work on the Property. The bond will revert to WRR
upon satisfactory completion of the reclamation program.

 

4.5
Inspection of Property. Both WRR and NGC shall be permitted to enter upon the Property
at all reasonable times for the purpose of inspection, but shall enter upon the Property at its own risk and so as not to hinder
unreasonably the operations of the WRR. NGC shall indemnify and hold WRR harmless from any damage, claim, or demand by reason
of injury to inspecting party or its agents or representatives on the Property or the approaches thereto.

 

4.6
Inspection of Accounts. Both WRR and NGC shall keep accurate books and records of
accounts reflecting all exploration activities on the Property, and both parties shall have the right, either itself or through
a qualified accountant of their choice and at its cost, to examine and inspect the books and records of both parties pertaining
to operations and expenditures on the Property.

 

    	 	 	 

    	 	 	 

    

 

 

5.
JOINT VENTURE

 

5.1 Formation
of Joint Venture. At such time as NGC has funded $500,000.00 in Exploration and Development Work Expenditures obligations
under Section 3, WRR grants to NGC, and NGC shall have, the option and right, exercisable in NGC’s sole and exclusive discretion,
to earn and vest an undivided fifty percent (50%) interest in the Property and to form a joint venture (the “Joint Venture”)
for the management and ownership of the Property. The parties will mutually agree to negotiate a Joint Venture Agreement.

 

5.2
Participating Interests. WRR shall have a Participating Interest of 50% and NGC will
have a Participating Interest of 50%. The deemed value of WRR Participating Interest shall be $500,000.00. The value of NGC’s
initial capital contribution shall be $500,000.00.

 

5.3 Operator
of the Joint Venture. Following formation of the Joint Venture and in the negotiation of the Formal Joint Venture Agreement,
WRR and/or NGC may become the Operator of the Joint Venture, as mutually agreed to by both parties. If WRR’s participating
interest becomes less than 50%, NGC may elect to become the operator. A Management Committee, consisting of two representatives
of each party, shall be responsible for approving programs and budgets and for determining the general policies and directions
to be adopted by the Operator in the conduct of its operations. The Management Committee shall meet at least once monthly and
otherwise on ten (10) days’ advance written notice given by either party.

 

Prior
to the commencement of each contract quarter, the Operator shall propose Programs and Budgets to the Management Committee at least
quarterly for periods determined necessary or appropriate by the Operator. Programs and Budgets for Exploration or mining Operations
shall not exceed six (6) months without unanimous approval of the Participants. The Management Committee will vote upon the proposed
work plan and budget within ten (10) days after delivery by the Operator. Each Party shall give notice to the Operator within
ten (10) days after a Program and Budget is approved by the Management Committee whether it will fund its share of expenditures
in respect of such Program and Budget. Each Party who elects to fund its share shall be obligated to do so.

 

If
the Operator does not propose a Program and Budget requiring a total annual expenditure of $250,000.00 or more prior to the beginning
of an annual period, then, within thirty (30) days after the beginning of the annual period, the non-Operator may propose a Program
and Budget requiring an annual expenditure of $250,000.00 or more, and the non-Operator shall thereupon become the Operator. The
former Operator shall be entitled to meet with the new Operator to discuss the proposed Program and Budget and suggest any changes
it feels are appropriate. The new Operator shall immediately thereafter finalize the Program and Budget and deliver it to the
former Operator, whereupon it shall be deemed to have been approved by the Management Committee. If the non-Operator does not
present such a proposal within thirty (30) days after the beginning of the annual period, then the non-Operator will have waived
its right to do so for that annual period.

 

5.4 Cash
Calls and Dilution. Following approval of a quarterly program and budget, the Operator shall make cash calls from time to
time for the conduct of operations. A party receiving a cash call must contribute its share within fifteen (15) days of receiving
the notice. Failure by either party to participate in the cash call shall result in straight-line dilution in accordance with
the “Dilution clause” in the formal Joint Venture Agreement. A party whose Participating Interest falls below ten
percent (10%) shall be deemed to have withdrawn from the Joint Venture, and thereafter that party shall elect, on a one-time basis
receive either (1) ten percent (10%) of net profits from the Joint Venture, as determined in accordance with standard accounting
principles; or (2) a royalty on production equal to three percent (3%) of net smelter returns, as more particularly described
on Exhibit C-1 attached hereto.

 

    	 	 	 

    	 	 	 

    

 

6. NGC
RIGHT OF FIRST REFUSAL (ROFR) TO ACQUIRE ADDITIONAL INTEREST

 

Should
NGC earn its 50% interest, in accordance with all of Section 3 above, WRR will grant a right of first refusal (ROFR) to increase
NGC’s earned interest to 70% in consideration of the follow.

 

6.1 The
purchase of a total of C$1,000,000 of common shares of WRR.

 

6.2 NGC
within two years of earning its initial 50% interest, will fund and deliver a scoping study on the Property and on delivery of
the scoping study, NGC earns the additional 20% interest, for an aggregate 70% interest in the Property.

 

6.3 If
NGC exercises the above ROFR, NGC shall carry WRR’s ongoing Joint Venture obligations outside of the above scoping study,
to a maximum of $500,000 (being WRR’s 50% obligation for $1,000,000 in exploration expenditures) on a carried, interest
free basis. 100% recovery of WRR carried expenditures by NGC will occur in “any” of the following: a potential takeover,
a buyout, and/or being sold to a third party.

 

6.4 If
NGC does not elect to increase its participating interest by an additional twenty percent (20%) as described above, the parties
shall form the Joint Venture in accordance with Section 5.2 above and shall execute and deliver the agreement for the formation
and operation of the Joint Venture Agreement.

 

7. DEFAULT
AND REMEDIES

 

7.1
Default and Remedies. If NGC fails to perform its obligations under this Agreement, and in particular fails to make any
exploration expenditure hereunder, WRR may declare NGC in default by giving NGC written notice of default which specifies the
obligation(s) which NGC has failed to perform. If NGC fails to remedy a default in a exploration expenditures within fifteen days
(15) of receiving the notice of default, and thirty (30) days for any other default, WRR may terminate this Agreement or to proceed
with any other remedy provided by law, subject to the provisions of this Agreement. NGC shall peaceably surrender its remaining
Option to acquire an interest in of the Property to WRR. Notice of termination shall be in writing and served in accordance with
this Agreement.

 

8. TERMINATION

 

8.1
Termination. This Agreement may be terminated by either Parties if either
Party (i) assigns itself or is assigned into bankruptcy under applicable legislation; (ii) attempts to or does assign any rights
of any nature granted hereunder to a third party; (iii) attempts to or actually enters into a business combination with any third
party; (iv) fails to cure any default of any obligation of any nature hereunder.

 

8.2 The
termination of this Agreement for any reason is without prejudice to, and does not affect, the right of WRR to recover from NGC
any and all financial damages, as well as equitable relief, to which WRR may be entitled by contract, law or equity, or any other
rights of the WRR, and all rights of WRR shall survive termination of this Agreement.

 

8.3 This
Agreement may be terminated by WRR by providing NGC with written notice if NGC is in breach of any obligation to be observed or
performed under this Agreement and the breach is not remedied or the matter is not requested in writing to be submitted to arbitration
within 30 days of receiving written notice from the WRR. In such event, all of NGC respective rights hereunder shall terminate.

 

    	 	 	 

    	 	 	 

    

 

9. REPRESENTATION
OF TITLE

 

9.1
Warranty. WRR represents, to the best of its knowledge, that it owns the rights to the unpatented mining claims described
in Exhibit A and all lode mineral rights within the boundary of these claims, subject to the paramount title of the United States
(but excepting those portions that may overlap adjacent fee lands); that the claims are valid under the mining laws of the United
States and the State of Nevada; that WRR has and will continue to have the right to commit the Claims to this Agreement; and that
WRR is not aware of any claim disputes, legal actions, or environmental hazards affecting the Property.

 

10. EMCUMBRANCES

 

10.1
Encumbrances. To the best of WRR’s knowledge, the Property is free from any liens, leases, or other encumbrances
created by WRR.

 

11. INDEMNIFICATION

 

11.1
Indemnification. WRR hereby expressly and unconditionally agrees to indemnify, defend and hold NGC and its successors,
assigns, managers, members, agents, employees, officers and directors, harmless from and against all manner of claims, demands,
actions, suits, liability, costs and expense, including defense expenses, which may occur as a result of its operations under
this Agreement, including, but not limited to, operations on the Property.

 

12. TRANSFERABILITY

 

12.1
Assignment. Either party is not permitted under any circumstances to attempt to, or assign its rights under this Agreement,
or any part thereof, or transfer this Agreement to another Party without the other Parties’ express written consent, which
may be withheld/denied for any reason or for no reason, all in the absolute and unfettered discretion of the Parties.

 

13. INDEPENDENCE

 

13.1
Independence. Nothing in this Agreement creates a partnership between WRR and NGC.

 

14. CHOICE
OF LAW AND ARBITRATION

 

14.1
Applicable Law. This Agreement is governed solely and exclusively by the laws of
Nevada, as to any and all matters. Jurisdiction and venue shall rest solely and exclusively in the courts of Washoe County, Nevada.

 

14.2
Arbitration. Any claim arising out of this Agreement shall absolutely be settled
exclusively through non-judicial arbitration and by a single arbitrator appointed by the parties mutually or, failing their mutual
appointment, by one arbitrator appointed by WRR, one arbitrator appointed by NGC, and a third arbitrator appointed by the two
already appointed arbitrators. The arbitration must be resolved in accordance with the Commercial Arbitration Rules of the
AAA and a written decision of the arbitrator(s) shall be short and summary, final and binding on the Parties, and non-appealable.
Arbitration shall take place exclusively in Washoe County, Nevada. The prevailing party shall, in addition to the arbitration
decision/award, be entitled to an award of all attorneys’ fees, costs and expenses incurred in the arbitration process.
The arbitration process shall be commenced by any party giving written notice to the other party of a dispute and a demand for
arbitration. The entire arbitration process must be completed within ninety (90) days of the date written notice is given by one
party to the other. In addition to any other award by the arbitrator(s), the prevailing party shall also be awarded its actual
attorneys’ fees, costs and expenses incurred from the date of receipt of notice of arbitration through the date of the written
arbitration decision.

 

14.3 Settlement. Where a matter has been submitted to arbitration, a Party is deemed
not to be in default until the matter is determined by the arbitration process.

 

    	 	 	 

    	 	 	 

    

 

15.
NON-WAIVER

 

15.1
The condoning, excusing or overlooking by any Party of any default, breach or non-observance by another at any time in respect
of any covenant, provision or condition of this Agreement does not operate as a waiver of the Party’s rights under this
Agreement in respect of any continuing or subsequent default, breach or non-observance, so as to defeat in any way the rights
of the Party in respect of any continuing or subsequent default or breach, and no waiver unless it is express and written may
be inferred from or implied by anything done or omitted by the Party.

 

16.
NOTICES

 

16.1
Any notice, demand or other communication required or permitted to be given to any party hereunder shall be in writing and shall
be either:

 

	(a)	personally
                                         delivered; or
	 	 
	(b)	sent
                                         by same day or next day courier; or
	 	 
	(c)	sent
                                         by telegraph, telecopier, or telex or similar method of telecommunication, charges prepaid,
                                         and confirmed by prepaid registered mail; or
	 	 
	(d)	sent
                                         by prepaid registered mail.

 

Any
notice so given shall be sent to the parties at the following respective addresses:

 

if
to
Walker River Resources Corp:

 

Attn:
Mr. Michel David,

 

President Walker River Resources Corp

 

551 Howe St, Suite 200

 

Vancouver, B.C. V6C 2C2

 

if
to
Nevada Gold Corp:

 

Attn:
Mr. Jeffrey Cocks, President

 

Nevada Canyon Gold Corp

 

1495 Ridgeview Drive, Suite 220

 

Reno, Nevada 89509

 

Any
party may from time to time change its address by written notice to the other parties given in accordance with ‘The provisions
hereof. Any notice or communication sent by courier or given by personal delivery shall be deemed to be received on the date of
delivery; any notice sent by telex, or telegraph or similar method of telecommunication shall be deemed to be received on the
date of the sending of the telex, telegraph or similar method of telecommunication, as the case may be; and any notice sent by
prepaid registered mail shall be deemed to be received on the fifth day after postmark by the postal service.

 

    	 	 	 

    	 	 	 

    

 

17.
PRESS RELEASES

 

17.1
Press Releases. Prior to issuing any press release or other disclosure of information regarding the Lapon Canyon Gold Project,
WRR or NGC, as the case may be, shall submit its press release or information disclosure to the other party for review and approval.
If no comments or approval have been given by the receiving party within two (2) working days following receipt, the press release
or information distribution shall be deemed approved.

 

18. BROKER’S
/FINDER’S FEES

 

18.1
The parties represent and warrant to and with each other that the transaction evidenced by this Agreement was initiated, negotiated
and completed by the parties hereto directly, as principals, and without the intervention of any broker, dealer, agent or finder,
except as otherwise provided herein. Each party agrees to indemnify and hold the other party harmless from and against any loss,
damage, cost or expense, including without limitation, attorneys’ fees and litigation expenses, resulting from any breach
or breaches of the foregoing warranty.

 

19. RISK
OF LOSS

 

19.1
Risk of loss, damage, or destruction of the Property shall remain with WRR at all times during the term of this Agreement.

 

20. FORCE
MAJEURE

 

20.1 Suspension
of Obligations. Failure of any party to perform or to comply with any of the covenants or conditions under this Agreement
due to conditions of Force Majeure, shall not be grounds for default, cancellation, termination or forfeiture of this Agreement.
“Force Majeure”. Should a party claim the existence of a condition of Force Majeure, such shall be excused from and
not held liable for, such failure to perform or comply during the term of said condition. The term of this Agreement shall be
extended for an additional period equal to the duration of the period of Force Majeure. Should a party claim the existence of
a claim of Force Majeure, it shall promptly notify the other party in writing of the condition of Force Majeure.

 

20.2 Definition
of Force Majeure. “Force Majeure” for purposes hereof, means any cause or condition beyond reasonable control
of a party during which the failure to perform under the Agreement is caused by or compliance with is prevented by severe
weather, explosion, unusual mining casualty, damage to or destruction of mill or mill plant facilities, fire, flood, civil or
military authority, insurrection, strikes, riots, fuel storages, judicial orders, litigation, government actions, policies or
regulations, which subsequently restricts or inhibits operations on the Property under this Agreement, inability to obtain
any license, permit or other authorization that may be required to conduct operations, acts of God; or any circumstances or
conditions beyond the control of the parties.

 

21. GENERAL
PROVISIONS

 

21.1 This
Agreement sets forth the entire agreement between the Parties and supersedes all previous negotiations, representations and agreements
between the Parties, whether written or oral, that might have lead to the Parties making this Agreement.

 

22.2 The
Parties acknowledge that they have been given adequate time to review this Agreement and to seek and obtain independent legal
advice, and represent that they have in fact sought and obtained independent legal advice and are satisfied with all of the terms
and conditions of this Agreement.

 

22.3 Time
is of the essence of this Agreement.

 

    	 	 	 

    	 	 	 

    

 

 22.4 Whenever the singular or masculine or neuter is used in this Agreement, the meanings must be construed as the plural or feminine or body corporate when the context requires.

 

22.5 The
headings in this Agreement are for convenience only and are not deemed part of this Agreement.

 

22.6 If
any part, section, paragraph or sub-paragraph of this Agreement is held to be invalid, illegal or otherwise void or unenforceable,
the balance of the Agreement continues in full force and effect.

 

22.7 This
Agreement inures to the benefit of and is binding upon the Parties and their respective successors and permitted assigns.

 

22.8 The
Parties acknowledge that they were jointly responsible for the preparation of this Agreement and, in the event of any inconsistencies
or need for interpretation, there should be no presumption that any construction or interpretation should be construed against
any party.

 

22.9 A
party may waive any rights under this Agreement only by written waiver duly signed by such party, and no failure to exercise or
delay in exercising a right under this Agreement shall constitute a waiver of such right.

 

22.10 Each
party agrees not to advertise, or otherwise make known to others, any information regarding this Agreement, except as may be required
by law.

 

22.11 Each
party represents and warrants they have, respectively, entered into this Agreement freely and in good faith.

 

22.12 The
invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other
provision of this Agreement.

 

22.13 If
any provision of this Agreement is found to be unenforceable, such provision will be limited or deleted to the minimum extent
necessary so that the remaining terms remain in full force and effect.

 

SIGNATURE
PAGE FOLLOWS

 

    	 	 	 

    	 	 	 

    

 

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

 

	WALKER RIVER RESOURCES CORP.	 
	 	 
	By:	/s/
    Michel David	 
	 	Michel
    David, President & CEO	 
	 	 	 
	NEVADA CANYON GOLD CORP.	 
	 	 
	By:	/s/
Jeffrey A. Cocks	 
	 	Jeffrey
    A. Cocks, President & CEO	 

 

    	 	 	 

    	 	 	 

    

 

	CLAIMS	 	BLM SERIAL No.	 	 	LOCATION DATE
	Sleeper 1-3	 	699414-416	 	 	Feb. 16. 1994
	Sleeper 4-10	 	699417-423	 	 	Feb. 26, 1994
	Sleeper 11-12	 	699424-424	 	 	Mar. 3, 1994
	Sleeper 13-14	 	708229-230	 	 	Sep. 9, 1994
	Sleeper 15	 	7088231	 	 	Sep. 14, 1994
	Sleeper 16-18	 	708232-234	 	 	Sep. 9, 1994
	Sleeper 19	 	708235	 	 	Sep. 9, 1994
	Sleeper 20 through 28	 	NMC 1008338 through NMC 1008345	 	 	May 31, 2009

 

EXHIBIT
A

  

    	 	 	 

    	 	 	 

    

  

	Sleeper
    29 through 36	NMC
    100846 through NMC 1008352	June
    1, 2009EX-10.1

 Exhibit 10.1 

CONFIDENTIAL SEPARATION AGREEMENT AND GENERAL RELEASE 

THIS CONFIDENTIAL SEPARATION AGREEMENT AND GENERAL RELEASE (“Agreement”) is made and entered into by and between Paul Schuster
(“Schuster”) and RGA Reinsurance Company, a Missouri Corporation (“RGA”), collectively “the Parties.” For and in consideration of the following promises, the Parties state: 

WHEREAS, Schuster is currently employed with RGA and serves in the capacity of Senior Executive Vice President, Head of EMEA Markets at
Reinsurance Group of America, Incorporated (“RGA Inc.”), the ultimate parent and an affiliate of RGA; 
 WHEREAS, RGA has informed
Schuster that it no longer requires the services of Schuster, and that Schuster’s provision of services to RGA, except as provided herein, will end effective December 31 2015; 

WHEREAS, on account of, and in recognition of, his service to RGA and his willingness to execute this Agreement and abide by the promises in
this Agreement (including a full release of claims), RGA desires that Schuster be afforded an opportunity to designate his separation as a retirement should he so choose, and desires to provide Schuster a period of time to transition into the labor
market or retirement (whichever he might choose) and receive the consideration set out below; 
 WHEREAS, it is Schuster’s desire that
he receive the consideration from RGA set out below to ease his transition into the labor market or retirement (whichever he may choose); and 

WHEREAS, RGA and Schuster desire to enter into a full and final resolution and agreement concerning all issues and matters between
them, arising on or before the effective date of this Agreement, including, but not limited to, any issues and matters that might arise out of Schuster’s employment with, or separation of employment from, RGA. 

 NOW THEREFORE, for and in consideration of the mutual releases, covenants and undertakings
hereinafter set forth, and for other good and valuable consideration, which each party hereby acknowledges, it is agreed as follows: 
  

	1.	Consideration to Schuster. Following the Effective Date of this Agreement, RGA will provide the consideration described below in consideration and in exchange for Schuster’s promises, agreements, and
obligations set out below, subject to the timing and other terms set out in this Agreement. 

  

	 	(A)	Retirement Acceptance. RGA will accept Schuster’s retirement and agrees that Schuster’s separation from RGA will be designated as a voluntary retirement. 

 

	 	(B)	Employment Continuation. RGA will permit Schuster to remain employed with RGA through June 30, 2016. During this period, Schuster will make himself available to RGA as it may reasonably require to assist
with transition of work, but, otherwise, Schuster will generally be relieved of the obligation to provide services to RGA. Should RGA require the assistance of Schuster during this period, it will provide Schuster reasonable notice of any such
request for assistance, and will consider, as appropriate, Schuster’s personal circumstances at the time of the request. 

RGA is willing to provide this continued employment to Schuster so that he will attain a service milestone with RGA that will: (i) provide
an extra year of pension qualification service; and (ii) entitle Schuster to receive retiree medical coverage with 100% of Schuster’s premiums and 50% of eligible dependent premiums paid by RGA, subject to the terms and conditions of the
RGA medical plan, and any future change or elimination of that benefit. 
  

	 	(C)	Transition Compensation & Benefits. Beginning January 1, 2016, RGA will pay Schuster six (6) months of transition compensation (through June 30, 2016). This compensation will be calculated
based upon Schuster’s current level of base compensation as of November 11, 2015. This transition compensation will be paid to Schuster on RGA’s regularly scheduled payroll dates. The Parties agree that the transition compensation
payments shall be subject to withholding of any applicable federal, state and local taxes (including Social Security and Medicare) and appropriate federal and state W-2 forms will be issued to Schuster in connection with these transition
compensation payments. The transition compensation will also be subject to any premium or other contributions required for Schuster’s continued participation in employee benefit plans or programs in which he participates. 

During the period of January 1, 2016 through June 30, 2016, Schuster will continue to participate in all of the employee benefit
plans he was participating in as of November 11, 2015, subject to any employee premium contributions required for participation in said benefits, except for the following benefit programs at RGA: 

 

	 	•	 	Schuster acknowledges and agrees he will not receive any paid time off (PTO) allotment for 2016; and 

  

	 	•	 	Schuster acknowledges and agrees that he shall not be entitled to any new equity award grants after December 31, 2015. 

  
 2 

	 	(D)	Additional Payments Following Separation on June 30, 2016. Provided that Schuster executes an additional Release (Exhibit D hereto), not to be executed until on or after July 1, 2016, Schuster
will be paid the following additional sums within 30 days of Schuster’s execution of Exhibit D hereto: 

  

	 	(i)	A full-year bonus payment at the “Target” amount under RGA’s 2016 Annual Bonus Plan (i.e., $448,400), to be paid in accordance with the respective terms and provisions of the 2016 Annual Bonus Plan
Agreements, and subject to withholding of any applicable federal, state and local taxes (including Social Security and Medicare); 

  

	 	(ii)	A lump sum severance payment representing six (6) months base salary at Schuster’s current level of base compensation as of November 11, 2015 (i.e. $280,250), subject to withholding of any applicable
federal, state and local taxes (including Social Security and Medicare). 

  

	 	(E)	Employment Verification for Schuster. RGA agrees that should it receive a request from a third party seeking verification of, or statement regarding, Schuster’s employment with RGA, RGA shall limit its
response to such inquiries to providing only Schuster’s period of employment with, and the positions he held with, RGA, and a statement that he retired from his employment with RGA voluntarily. 

 

	 	(F)	Retention Payment. Following the Effective Date of this Agreement, on behalf of RGA Inc., RGA shall pay to Schuster the full Retention Payment contemplated by the January 9, 2015 Cash Retention Award
Agreement (i.e. $400,000.00) executed by RGA Inc. and Schuster, to be paid in accordance with the respective terms and provisions of the Cash Retention Award Agreement. 

 

	 	(G)	Farewell / Retirement Reception. Should Schuster agree, RGA would like to schedule, plan and pay for a farewell / retirement reception for Schuster to be held on or before February 28, 2016.

  
 3 

	 	(H)	Release of Schuster from Certain Contractual Requirements. 

  

	 	(i)	RGA agrees that, after July 1, 2016, Schuster shall be released from application of the Reinsurance Group of America, Incorporated Executive Compensation Recoupment Policy (current version February 21, 2013)
(the “Recoupment Policy”) with respect to any executive compensation covered by the Policy that Schuster has received. 

  

	 	(ii)	RGA agrees that, after July 1, 2016, provided Schuster abides by the provisions of this Agreement and Exhibits hereto, Schuster will not be deemed to have engaged in Malfeasance as that term is defined pursuant to
Section 7 in his RGA Stock Option Award Agreement or RGA Stock Appreciation Right Award Agreement (the “Grant Agreements”). 

  

	 	(I)	Valuable Consideration. Schuster acknowledges and agrees that the consideration / payments referenced in paragraphs 1(A) through 1(H) of this Agreement constitutes valuable consideration, to which he would not
otherwise be entitled absent his execution of this Confidential Separation Agreement and General Release. 

  

	2.	Consideration From Schuster to RGA. In exchange for the receipt of the consideration provided to Schuster pursuant to the terms of this Agreement, Schuster hereby agrees as follows. 

 

	 	(A)	Release of Claims. Schuster agrees to remise, release and forever discharge RGA, including RGA’s current and former parent companies, affiliate companies, subsidiary companies, successor companies, and its
and their respective current and former directors, officers, shareholders, insurers, employees, benefit plans, benefit plan administrators or fiduciaries, agents, attorneys, successors and assigns (collectively the “RELEASEES”), from any
and all matters, claims, demands, damages, causes of action, debts, liabilities, controversies, judgments and suits of every kind and nature whatsoever, foreseen or unforeseen, known or unknown, which have arisen or could arise between Schuster and
the RELEASEES, from matters, actions or inactions which occurred prior to the effective date of this Agreement. 

 Schuster
acknowledges and agrees that his release of claims, complaints, and actions includes, but is not limited to: (i) any claim for breach of an actual or implied contract (employment or otherwise) between Schuster and any of the RELEASEES
(including any claim of fraudulent misrepresentation or negligent misrepresentation in the making of any actual or implied contract); (ii) any claim of unjust, wrongful, discriminatory, or retaliatory discharge,

  
 4 

 
discipline or other adverse employment action (including any claim of whistleblower retaliation); (iii) any claim of slander, libel or other similar action for defamation; (iv) any
claim of intentional tort (including, but not limited to, assault, battery, and intentional infliction of emotional distress); (v) any claim of negligence (including, but not limited to, negligent infliction of emotional distress, negligent
hiring, or negligent retention); (vi) any claim for unpaid wages or underpayment of wages, discriminatory or otherwise; (vii) any claim for denied benefits or employee benefits, including, but not limited to claims regarding stock or
equity, or claims under the Employee Retirement Income Security Act (“ERISA”); (viii) any claim of a violation of any law, statute or ordinance, including, but not limited to, the federal Age Discrimination in Employment Act, 29
U.S.C. § 621 et seq, or any other federal, state, or local laws, statutes or ordinances governing or concerning employment, compensation, benefits, or any federal, state, or local laws, statutes or ordinances generally; and any
claim asserted under federal or any state’s common law. 
  

	 	(B)	Agreement Not to File Suit. In exchange for the receipt of the consideration provided to Schuster pursuant to the terms of this Agreement, Schuster hereby agrees that he will not file or otherwise submit any
claim, complaint, or action to any agency, court, organization, or judicial forum (nor will he permit any person, group of persons or other organization(s) to take such action on his behalf), in any capacity whatsoever or with any direct or indirect
interest, against the RELEASEES, for any conduct, transaction, event or incident of any kind whatsoever, which occurred up to the effective date of this Agreement. 

Schuster further agrees that in the event any person or entity should bring any charge, claim, complaint, or action on Schuster’s behalf,
he hereby waives and forfeits any right to recovery under said claim and will exercise every good faith effort to have such claim dismissed. 

Schuster acknowledges that for purposes of the Age Discrimination in Employment Act (“ADEA”) only, this Agreement does not affect the
Equal Employment Opportunity Commission’s (“EEOC’s”) rights and responsibilities to enforce the ADEA, nor does this Agreement prohibit Schuster from filing a charge under the ADEA (including a challenge to the validity of the
waiver of claims in this Agreement pursuant to the Older Worker Benefit Protection Act) with the EEOC, or participating in any investigation or proceeding conducted by the EEOC. Nevertheless, Schuster agrees that the RELEASEES will be shielded
against any recovery by Schuster, provided this Agreement is valid under applicable laws, rules and regulations. 

  
 5 

	 	(C)	Resignation From Director and Officer Positions. In exchange for the receipt of the payments/consideration provided to Schuster pursuant to the terms of this Agreement, Schuster hereby agrees that he will resign
from any and all Director or Officer positions he holds with RGA or any of its affiliated companies, including, but not limited to: 

  

					
	 Entity Name
	 	 Title
	 	 Role

	REINSURANCE GROUP OF AMERICA, INCORPORATED	 	Senior Executive Vice President, Head of EMEA Markets	 	Officer
			
	RGA AUSTRALIAN HOLDINGS PTY LIMITED	 	Director	 	Director
			
	RGA REINSURANCE COMPANY OF AUSTRALIA LIMITED	 	Director	 	Director
			
	RGA REINSURANCE COMPANY OF SOUTH AFRICA LIMITED	 	Non-Executive Director	 	Director
			
	RGA SOUTH AFRICAN HOLDINGS (PTY) LTD	 	Non-Executive Director	 	Director

 Schuster agrees to resign from these positions effective December 31, 2015. Draft resignation letters, to
be executed by Schuster, are attached to this Agreement as Exhibits A, B and C. 
  

	 	(D)	Restrictive Covenant Agreement. In exchange for the receipt of the payments/consideration provided to Schuster pursuant to the terms of this Agreement, Schuster hereby agrees that he will execute the Restrictive
Covenant Agreement attached to this Agreement as Exhibit E, contemporaneously with his execution of this Agreement. 

  

	 	(E)	Available to RGA. After December 31, 2015, though no particular services or activities on the part of Schuster are presently contemplated by RGA, and though Schuster need not report to any RGA location,
Schuster agrees to make himself available to RGA from time to time, as RGA may reasonably request, to assist with transition of work, through June 30, 2016. Should RGA require the assistance of Schuster during this period, it will provide
Schuster reasonable notice of any such request for assistance, and will consider, as appropriate, Schuster’s personal circumstances at the time of the request. 

  
 6 

	3.	Confidentiality. 

  

	 	(A)	Schuster agrees that he will not publicize this Agreement nor its content, directly or indirectly, either in specific or as to general content, to either the public generally or to any other person or entity, except as
he might be lawfully compelled to give testimony by a court of competent jurisdiction, or to participate in an agency investigation. Schuster’s agreement regarding confidentiality extends to all persons other than his attorneys, accountants or
tax and financial advisors who have a legitimate need to know the terms of this Agreement in order to render professional advice or services to Schuster. Schuster may further disclose this Agreement or the contents of this Agreement to his spouse.
With the exception of the individuals set out above, Schuster agrees not to identify or reveal the fact of this Agreement or any of the terms of this Agreement except as otherwise provided herein, and agrees he will direct and bind the individuals
listed above to whom he discloses the Agreement to not disclose the fact of or content of this Agreement to any other party. 

  

	 	(B)	RGA agrees that it will not publicize this Agreement nor its content, directly or indirectly, either with specificity or as to general content or description, to either the public generally or to any other person or
entity; provided that, RGA may disclose such specific or general content or description: (i) as necessary to effectuate the terms of the Agreement; (ii) if it is lawfully compelled to give testimony by a court of competent jurisdiction, or
to participate in an agency investigation; (iii) as necessary to satisfy disclosure and reporting obligations under applicable securities laws and regulations; or (iv) to comply with any legal and compliance reporting obligations of RGA or
any of its executives, officers, directors or employees. 

 RGA’s agreement regarding confidentiality extends to all
persons other than its attorneys (internal and external), accountants (internal and external) or tax and financial advisors (internal and external) who may have a legitimate need to know the terms of this Agreement in order to render professional
advice or services to RGA. RGA may further disclose this Agreement or the contents of this Agreement to those at RGA who have a need to know of this Agreement and its terms including, but not limited to, RGA’s Board, certain executives, and
certain human resource and compensation professionals. 

  
 7 

	4.	No Admission of Wrongdoing. The Parties to this Agreement agree that nothing in this Agreement is an admission by any party hereto of any wrongdoing, either in violation of an applicable law or otherwise, and
that nothing in this Agreement is to be construed as such by any person. 

  

	5.	Voluntary Agreement. Schuster acknowledges that he understands this Agreement, the claims he is releasing, the promises and agreements he is making, and the effect of his signing this Agreement. Schuster further
represents, declares, and agrees that he voluntarily accepts the consideration / payments described in this Agreement for the purpose of making a full and final compromise, adjustment, and settlement of all claims or potential claims against the
RELEASEES from any action or inaction taking place prior to the effective date of this Agreement. 

  

	6.	Time for Consideration. By executing this Agreement, Schuster acknowledges that he has been advised by RGA, in writing, that he has been given at least twenty-one (21) days within which to consider this
Agreement before his signing the same. 

  

	7.	Time for Revocation. By executing this Agreement, Schuster acknowledges that he has been advised by RGA, in writing, that this Agreement shall not become effective until the eighth (8th) calendar day after
the date of Schuster’s execution of this Agreement. During the seven (7) day period following Schuster’s execution of this Agreement, Schuster may freely revoke his execution of this Agreement by providing written notice to: Marcia
Bequette, Vice President Global Human Resource Business Partner. Upon expiration of the seven (7) day period, Schuster acknowledges that this Agreement becomes final and binding. If Schuster revokes this Agreement within the seven (7) day
period following his execution of this Agreement, it shall not be effective or enforceable, and Schuster will not receive the payments or other consideration described in this Agreement. 

 

	8.	Consultation With an Attorney. By executing this Agreement, Schuster acknowledges that, at the time he was presented with this Agreement for his consideration, he was advised by RGA, in writing, to consult with
an attorney about this Agreement, its meaning and effect, and the claims he is releasing (including claims under the Age Discrimination in Employment Act) prior to executing this Agreement. 

 

	9.	Choice of Law. The Parties acknowledge and agree that this Agreement shall be construed and governed by the laws of the State of Missouri. 

 

	10.	Modification. The Parties hereto agree that this Agreement may not be modified, altered, or changed except by a written agreement signed by the Parties hereto. 

  
 8 

	11.	Entire Agreement. The Parties acknowledge and agree that except as provided in the following sentence, this Agreement supplements any prior written and oral agreements regarding Schuster’s employment up to
the Effective Date of this Agreement. The Parties further acknowledge and agree that RGA implemented the Recoupment Policy and Schuster has received the Grant Agreements, and effective July 1, 2016, to the extent any provision of this Agreement
conflicts with the Recoupment Policy or Grant Agreements, the provisions of this Agreement shall control. 

  

	12.	Severability. The Parties acknowledge and agree that if any provision of this Agreement is held to be invalid, the remaining provisions shall remain in full force and effect. However, if the release and waiver of
all claims, and covenant not to sue set out in Paragraphs 2(A) and 2(B) of this Agreement are determined to be invalid or unenforceable by a court of competent jurisdiction following a legal action or other challenge by Schuster, the Parties shall
revert to the position held by each prior to the signing of this Agreement, and Schuster shall immediately return to RGA all sums paid pursuant to this Agreement. 

 

	13.	No Presumption Against Drafter. The Parties acknowledge and agree that, given that this Agreement and its terms were negotiated between the Parties, who are: (a) a sophisticated entity and (b) a
sophisticated individual, both having access to counsel, there shall be no presumption against either RGA or Schuster as drafter of the Agreement. 

  

	14.	Execution and Effective Date. The Parties acknowledge and agree that separate copies of this document shall constitute original documents which may be signed separately but which together will constitute one
single agreement. This Agreement will not be binding on any party, however, until signed by all Parties. This Agreement will not become effective until the 8th day following Schuster’s
execution (“the Effective Date”). 

  

	15.	No Reliance. The Parties acknowledge and agree that they have not relied on any representations, promises, or agreements of any kind made to them in connection with this Agreement, except for those set forth in
this Agreement. 

  

	16.	Capacity to Settle. Schuster represents and warrants that he has no legal impediments (including bankruptcies) to fully and completely settle all claims and to sign this Agreement. Schuster further warrants that
he is the sole owner of all the claims he has released in this Agreement, and that he has not assigned or transferred any such claim (or any interest in any such claim) to any other person, and that he will indemnify, defend and hold the RELEASEES
harmless for any damages, costs, fees or expenses which they may incur if these representations and warranties are incorrect in any respect. 

  
 9 

	17.	Agreement to Refrain From Disparagement. Schuster acknowledges and agrees that he will not disparage or defame RGA or the RELEASEES in any respect, nor will he make any derogatory comment, whether written or
oral, regarding RGA or the RELEASEES that relates to RGA’s and/or the RELEASEES’ business or related activities or his relationship with RGA and/or the RELEASEES. 

 

	18.	Penalty for Breach. Schuster acknowledges and agrees that should he breach any of the terms and provisions of any portion of this Agreement, or should he not fulfill any promise or agreement he makes in this
Agreement, Schuster, as a penalty, shall forfeit any sums due him but not yet paid pursuant to this Agreement, and he shall be responsible for reimbursing RGA for the monetary value of the consideration provided to him pursuant to this Agreement,
including, but not limited to, any and all transition compensation, bonuses, benefits and the like. 

 IN WITNESS WHEREOF, the
undersigned Parties have executed this Confidential Separation Agreement and General Release. 
 I HAVE READ THIS CONFIDENTIAL SEPARATION AGREEMENT AND
GENERAL RELEASE AND, UNDERSTANDING ALL OF ITS TERMS, SIGN IT OF MY FREE WILL. 
  

	
	 /s/ Paul A. Schuster

	Paul Schuster
	
	Date: December 16, 2015

  
  

I HAVE READ THIS CONFIDENTIAL SEPARATION AGREEMENT AND GENERAL RELEASE AND, UNDERSTANDING ALL ITS TERMS, SIGN IT ON BEHALF OF RGA REINSURANCE COMPANY.

  

			
	RGA Reinsurance Company
		
	By:	 	 /s/ Michael L. Emerson

	
	Date: December 16, 2015

  
 10 

 Exhibit A 

December 16, 2015 
 Reinsurance Group of America,
Incorporated 
 16600 Swingley Ridge Road 
 Chesterfield,
Missouri 63017-1706 
  

	Attn:	A. Greig Woodring 

 President and CEO 

Dear Mr. Woodring: 
 I hereby tender my resignation as
Senior Executive Vice President, Head of EMEA Markets effective December 31, 2015. 
  

	
	Very truly yours,
	
	/s/ Paul A. Schuster
	
	Paul Schuster

  
 11 

 Exhibit B 

December 16, 2015 
 Reinsurance Group of America,
Incorporated 
 16600 Swingley Ridge Road 
 Chesterfield,
Missouri 63017-1706 
  

	Attn:	Alain Neemeh 

 Senior Executive Vice President, Global Life & Health Markets 

Dear Mr. Neemeh: 
 I hereby tender my resignation as
Director of the following entities, effective December 31, 2015: 
  

	
	 Entity Name

	RGA AUSTRALIAN HOLDINGS PTY LIMITED
	RGA REINSURANCE COMPANY OF AUSTRALIA LIMITED

  

	
	Very truly yours,
	
	/s/ Paul A. Schuster
	
	Paul Schuster

  
 12 

 Exhibit C 

December 16, 2015 
 Reinsurance Group of America,
Incorporated 
 16600 Swingley Ridge Road 
 Chesterfield,
Missouri 63017-1706 
  

	Attn:	Alain Neemeh 

 Senior Executive Vice President, Global Life & Health Markets 

Dear Mr. Neemeh: 
 I hereby tender my resignation as
Director of the following entities, effective December 31, 2015: 
  

	
	 Entity Name

	 RGA REINSURANCE COMPANY OF SOUTH AFRICA LIMITED

	 RGA SOUTH AFRICAN HOLDINGS (PTY) LTD

  

	
	Very truly yours,
	
	/s/ Paul A. Schuster
	
	Paul Schuster

  
 13 

 Exhibit D 

GENERAL RELEASE 

(not to be executed until on or after July 1, 2016) 

THIS RELEASE (“Release”) is made and entered into by and between Paul Schuster (“Schuster”) and RGA Reinsurance Company, a
Missouri Corporation (“RGA”), collectively “the Parties.” For and in consideration of the following promises, the Parties state: 

WHEREAS, Schuster executed a certain Confidential Separation Agreement and General Release (“the Agreement”) on or about
December 16, 2015; 
 WHEREAS, the Agreement provided for payment of: (a) a full-year bonus payment to Schuster under RGA’s
2016 Annual Bonus Plan, and (b) a lump sum severance payment, provided that Schuster execute a separate Release in favor of RGA and the other released parties under the Agreement, on or after July 1, 2016; 

WHEREAS, sufficient time has passed such that the date is now, or is past, July 1, 2016; 

WHEREAS, Schuster desires to receive the bonus and lump sum severance payment contemplated by the terms of the Agreement and is willing to
execute this additional Release; 
 NOW THEREFORE, for and in consideration of the mutual promises, covenants and undertakings hereinafter
set forth, and for other good and valuable consideration, which each party hereby acknowledges, it is agreed as follows: 
  

	1.	Consideration to Schuster from RGA. Following the Effective Date of this Release, RGA will provide the consideration described below in consideration and in exchange for Schuster’s promises, agreements, and
obligations set out below, subject to the timing and other terms set out in the Agreement and this Release: 

  

	 	(A)	Payments. 

  

	 	(i)	Within 30 days of Schuster’s execution of this Release, Schuster will be paid a full-year bonus payment at the “Target” amount under RGA’s 2016 Annual Bonus Plan (i.e., $448,400), to be paid in
accordance with the respective terms and provisions of the 2016 Annual Bonus Plan Agreements and subject to withholding of any applicable federal, state and local taxes (including Social Security and Medicare), and; 

 

	 	(ii)	Within 30 days of Schuster’s execution of this Release, Schuster will be paid a lump sum severance payment representing six (6) months base salary at Schuster’s current level of base compensation as of
November 11, 2015 (i.e., $280,250), subject to withholding of any applicable federal, state and local taxes (including Social Security and Medicare). 

  
 14 

	2.	Consideration From Schuster to RGA. In exchange for the receipt of the consideration provided to Schuster pursuant to the terms of the Agreement and this Release, Schuster hereby agrees as follows.

  

	 	(A)	Release of Claims. Schuster agrees to remise, release and forever discharge RGA, including RGA’s current and former parent companies, affiliate companies, subsidiary companies, successor companies, and its
and their respective current and former directors, officers, shareholders, insurers, employees, benefit plans, benefit plan administrators or fiduciaries, agents, attorneys, successors and assigns (collectively the “RELEASEES”), from any
and all matters, claims, demands, damages, causes of action, debts, liabilities, controversies, judgments and suits of every kind and nature whatsoever, foreseen or unforeseen, known or unknown, which have arisen or could arise between Schuster and
the RELEASEES, from matters, actions or inactions which occurred prior to the effective date of this Release. 

 Schuster
acknowledges and agrees that his release of claims, complaints, and actions includes, but is not limited to: (i) any claim for breach of an actual or implied contract (employment or otherwise) between Schuster and any of the RELEASEES
(including any claim of fraudulent misrepresentation or negligent misrepresentation in the making of any actual or implied contract); (ii) any claim of unjust, wrongful, discriminatory, or retaliatory discharge, discipline or other adverse
employment action (including any claim of whistleblower retaliation); (iii) any claim of slander, libel or other similar action for defamation; (iv) any claim of intentional tort (including, but not limited to, assault, battery, and
intentional infliction of emotional distress); (v) any claim of negligence (including, but not limited to, negligent infliction of emotional distress, negligent hiring, or negligent retention); (vi) any claim for unpaid wages or
underpayment of wages, discriminatory or otherwise; (vii) any claim for denied benefits or employee benefits, including, but not limited to claims regarding stock or equity, or claims under the Employee Retirement Income Security Act
(“ERISA”); (viii) any claim of a violation of any law, statute or ordinance, including, but not limited to, the federal Age Discrimination in Employment Act, 29 U.S.C. § 621 et seq, or any other federal, state, or local
laws, statutes or ordinances governing or concerning employment, compensation, benefits, or any federal, state, or local laws, statutes or ordinances generally; and any claim asserted under federal or any state’s common law. 

  
 15 

	 	(B)	Agreement Not to File Suit. In exchange for the receipt of the consideration provided to Schuster pursuant to the terms of the Agreement and this Release, Schuster hereby agrees that he will not file or otherwise
submit any claim, complaint, or action to any agency, court, organization, or judicial forum (nor will he permit any person, group of persons or other organization(s) to take such action on his behalf), in any capacity whatsoever or with any direct
or indirect interest, against the RELEASEES, for any conduct, transaction, event or incident of any kind whatsoever, which occurred up to the effective date of this Release. 

Schuster further agrees that in the event any person or entity should bring any charge, claim, complaint, or action on Schuster’s behalf,
he hereby waives and forfeits any right to recovery under said claim and will exercise every good faith effort to have such claim dismissed. 

Schuster acknowledges that for purposes of the Age Discrimination in Employment Act (“ADEA”) only, this Agreement does not affect the
Equal Employment Opportunity Commission’s (“EEOC’s”) rights and responsibilities to enforce the ADEA, nor does this Release prohibit Schuster from filing a charge under the ADEA (including a challenge to the validity of the
waiver of claims in this Release pursuant to the Older Worker Benefit Protection Act) with the EEOC, or participating in any investigation or proceeding conducted by the EEOC. Nevertheless, Schuster agrees that the RELEASEES will be shielded against
any recovery by Schuster, provided this Release is valid under applicable law. 
  

	3.	Time for Consideration. By executing this Release, Schuster acknowledges that he has been advised by RGA, in writing, that he has been given at least twenty-one (21) days within which to consider this
Release before his signing the same. 

  

	4.	 Time for Revocation. By executing this Release, Schuster acknowledges that he has been advised by RGA, in writing, that this Release shall not
become effective until the eighth (8th) calendar day after the date of Schuster’s execution of this Release. During the seven (7) day period following Schuster’s execution of this Release, Schuster may freely revoke his execution
of this Release by providing written notice to: Marcia Bequette, Vice President Global Human Resource Business Partner. Upon expiration of the seven (7) day period (“the Effective Date”), Schuster acknowledges that this Release
becomes final and binding. If Schuster revokes this Release within the seven (7) day period following his execution of this Release, it shall not be effective or enforceable, and Schuster will not receive the consideration

  
 16 

	 	
(the full-year bonus payment at the “Target” amount under RGA’s 2016 Annual Bonus Plan – i.e., $448,400 or the lump sum severance pay of six (6) months base compensation
at Schuster’s current level of base compensation as of November 11, 2015) described in this Release and the Agreement. 

  

	6.	Consultation With an Attorney. By executing this Release, Schuster acknowledges that, at the time he was presented with the Agreement and this Release for his consideration, he was advised by RGA, in writing, to
consult with an attorney about the Agreement and this Release, their meaning and effect, and the claims he is releasing (including claims under the Age Discrimination in Employment Act) prior to executing this Release. 

 

	7.	Choice of Law. The Parties acknowledge and agree that this Release shall be construed and governed by the laws of the State of Missouri. 

IN WITNESS WHEREOF, the undersigned Parties have executed this General Release. 

I HAVE READ THIS GENERAL RELEASE AND, UNDERSTANDING ALL OF ITS TERMS, SIGN IT OF MY FREE WILL. 

 

	
	  

	Paul Schuster

  

			
	Date:	 	  

	(not to be executed prior to July 1, 2016)

  
  

I HAVE READ THIS GENERAL RELEASE AND, UNDERSTANDING ALL OF ITS TERMS, SIGN IT ON BEHALF OF RGA REINSURANCE COMPANY. 

 

			
	RGA Reinsurance Company
		
	By:	 	  

		
	Date:	 	  

  
 17 

 
 EXHIBIT E 

RESTRICTIVE COVENANT AGREEMENT 
 THIS
AGREEMENT (“Agreement”) is made this 16th day of December, 2015, between RGA Reinsurance Company (“RGA” or the “Company”) and Paul Schuster (“Schuster”). As used in this Agreement, the term “RGA
Group” shall mean RGA and each and every one of RGA’s affiliate entities (parent companies, subsidiary companies and affiliate companies) 
  

	1.	Acknowledgments. 

 I recognize and acknowledge the following: 

(a) RGA / RGA Group is one of the world’s leading reinsurers, recognized for its expertise in risk assessment and capital management (the
“Business”). 
 (b) RGA Group has clients and customers throughout the world. 

(c) RGA Group has developed substantial confidential, proprietary and/or trade secret information in connection with the Business, and this information, if
misused or disclosed, could be very harmful to its business. 
 (d) I acknowledge and state that I was employed with RGA from April 22, 1991 through
June 30, 2016. 
 (e) I desire to receive certain consideration being offered to me as part of a Confidential Separation Agreement and General Release,
which would otherwise not be available but for my execution of this Agreement. 
 (f) I recognize and acknowledge that my positions with RGA and RGA Group
have provided me with access to RGA’s and RGA Group’s confidential and proprietary business information in nearly all forms. In my various positions with RGA and RGA Group, I was provided, and was provided access to, a vast array of
confidential information concerning the

 
Company’s and RGA Group’s Business, its strategies, its competitive market position and other confidential information of the Company. 

(g) RGA compensates its employees to develop and preserve, on the RGA Group’s behalf, goodwill with clients and customers. 

(h) RGA has decided, in view of its valuable confidential information and its valuable client / customer relationships, that I must sign this Agreement as a
condition of my receipt of severance compensation and other consideration being offered to me in connection with my execution of a Confidential Separation Agreement and Release. 

(i) I desire to receive the consideration being offered to me pursuant to the Confidential Separation Agreement and Release, and acknowledge that the
consideration offered pursuant to the Confidential Separation Agreement and Release would not otherwise be available to me unless I execute this Agreement. 

(j) I further acknowledge that RGA and the RGA Group, in all fairness, would need certain protections (of the type described and set out in this Agreement) in
order to prevent me from having an unfair competitive advantage over the RGA and the RGA Group. 
  

	2.	Confidential Information. 

 (a) Following my employment with RGA, I agree to keep secret and
confidential, and not to use or disclose to any third parties, any proprietary and/or confidential information I was provided or given access to during the course of my employment. Any and all documents, notes, records and/or other information
obtained by or provided to me, or otherwise made, produced, or compiled during the course of my employment with RGA which contain any such confidential and/or proprietary information, regardless of the type of medium that such is preserved in, are
the sole and exclusive property of RGA and shall be surrendered to RGA upon the separation of employment and/or on demand at any time by RGA.

 

 
 (b) I acknowledge and agree that any and all ideas, inventions, discoveries, business processes, patents, patent
applications, continuation-in-part patent applications, divisional patent applications, technology, copyrights, derivative works, trademarks, service marks, improvements, trade secrets, and the like, which are or were developed, conceived, created,
discovered, learned, produced, and/or otherwise generated by me, whether individually or otherwise, during the time that I was employed by RGA, whether or not during working hours, that are within the scope of RGA’s business and/or which relate
to the Business and/or activities of RGA, shall be the sole and exclusive property of RGA, and no one else, and RGA shall own any and all right, title, and interest to such. I assign and agree to assign to RGA any and all right, title and interest
in and to any such ideas, inventions, discoveries, business processes, patents, patent applications, continuation-in-part patent applications, divisional patent applications, technology, copyrights, derivative works, trademarks, service marks,
improvements, and the like, whenever requested to do so by RGA, at RGA’s expense, and I agree to execute any and all applications, assignments or other instruments which RGA deems desirable and/or necessary to protect such interests. 

 

	3.	Post-Termination Restrictions. 

 Recognizing that important elements of RGA’s business
success are the confidential information and/or business relationships entrusted to RGA’s employees, I agree that from the period between my execution of this Restrictive Covenant Agreement and June 30, 2017, I will not directly or
indirectly: 
 (a) cause or attempt to cause any person, firm, company, business, corporation or business entity that was a client or customer of RGA in the
business unit that I oversaw (Europe, Middle

 
East, Asia and Africa) at RGA during the two years immediately preceding the termination of my employment with RGA, to divert, terminate, limit or in any manner modify or fail to enter into, any
actual or potential business relationship or opportunity with RGA; or 
 (b) cause or attempt to cause any prospective client or customer of the business
unit I oversaw at RGA (Europe, Middle East, Asia and Africa) during the two years immediately preceding the termination of my employment, to divert, terminate, limit or in any manner modify or fail to enter into, any actual or potential business
relationship with RGA; or 
 (c) solicit or entice any person, firm, company, business, corporation or business entity that was a client or customer of the
business unit I oversaw at RGA (Europe, Middle East, Asia and Africa) at any time during the two years immediately preceding the termination of my employment with RGA to move his, her or its business from RGA; or 

(d) solicit, entice, hire, employ or seek to employ any employee of RGA or the RGA Group, who was employed by RGA or within the RGA Group at any time during
the one year immediately preceding my termination of employment with RGA to provide Competitive Goods Services on behalf of myself or any other company or business which provides Competitive Goods or Services; or 

For purposes of this Agreement, “Competitive Goods or Services” shall include goods, products or services which are of the same general type,
perform similar functions or are used for the same purposes as the goods, products or services which have been, are or will be sold, provided or offered by RGA or the RGA Group at any time during the one year immediately preceding my termination of
employment with RGA. 
 I acknowledge and agree that the restrictions contained in Sections 2 and 3, both separately and in total, are reasonable in view of
RGA’s 

 

 
legitimate interests in protecting its confidential, proprietary and/or trade secret information and valuable customer relationships, employee relationships and other business relationships. 

 

	4.	Choice of Forum and Governing Law. 

 In light of RGA’s contacts with the State of Missouri
and its significant interest in ensuring that disputes as to the validity and enforceability of Sections 2 and 3 of this Agreement are resolved on a uniform basis, RGA and I agree that: (i) any litigation relating to or involving any
noncompliance with or alleged breach of Sections 2 or 3 of this Agreement shall be filed and conducted in St. Louis County, Missouri, and (ii) this Agreement shall be interpreted in accordance with and governed by the laws of the State of
Missouri, without regard to the principles thereof regarding choice of law. 
  

	5.	RGA’s Right to Injunctive Relief. 

 In the event of a breach or threatened breach of any of
my duties and obligations under the terms and provisions of Sections 2 or 3 hereof, RGA shall be entitled, in addition to any other legal or equitable remedies RGA may have in connection therewith (including any right to damages that RGA may
suffer), to a temporary, preliminary and/or permanent injunction restraining such breach or threatened breach. I hereby expressly acknowledge that the harm which might result to RGA’s business as a result of any noncompliance by me with
Sections 2 and 3 is largely irreparable. I specifically agree that if there is a question as to the enforceability of Sections 2, or 3 hereof, I will not engage in any conduct inconsistent with or contrary to such Sections until after the question
has been resolved by a final judgment of a court of competent jurisdiction. 
  

	6.	Non-Waiver of Rights. 

 RGA’s failure to enforce at any time any of the provisions of this
Agreement or to require at any time my performance of any of the provisions hereof shall in no way be construed to be a

 
waiver of such provisions or to affect either the validity of this Agreement, or any part hereof, or the right of RGA thereafter to enforce each and every provision in accordance with the terms
of this Agreement. 
  

	7.	Tolling. 

 I agree that the running of period set forth in Section 3 shall be tolled during
any period in which I am in violation of such Section. 
  

	8.	Invalidity of Provisions. 

 In the event that any provision of this Agreement is adjudicated to be
invalid or unenforceable under applicable law, the validity or enforceability of the remaining provisions shall be unaffected. To the extent that any provision of this Agreement is adjudicated to be invalid or unenforceable because it is overbroad,
that provision shall not be void but rather shall be limited only to the extent required by applicable law and enforced as so limited. 
  

	9.	Fees and Costs. 

 I undertake and agree that if it is determined by a court that I have breached
this Agreement, I shall be liable for the reasonable attorneys’ fees and costs incurred by RGA in enforcing its rights hereunder. 
 If I initiate an
action in which I seek to have the provisions of this Agreement declared invalid and/or unenforceable and it is determined by a court that this Agreement is valid and/or enforceable, I shall be liable for the reasonable attorneys’ fees and
costs incurred by RGA in defending any such action. 
  

	10.	Amendments. 

 No modification, amendment or waiver of any of the provisions of this Agreement
shall be effective unless in writing specifically referring hereto, and signed by the parties hereto. This Agreement supersedes all prior agreements and understandings between RGA and me to the extent that any such agreements or understandings
conflict with the terms of this Agreement. 

 

 By signing this Agreement, I am hereby certifying that, before signing this Agreement, I reviewed a copy of it
carefully and had sufficient opportunity to ask any questions that I had about it and received satisfactory answers to all such questions, and that I understand my rights and obligations under this Agreement 

 

	
	 /s/ Paul A. Schuster

	Signature
	
	 Paul A. Schuster

	Print Name
	
	Date: December 16, 2015

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