Document:

EXHIBIT 10.01

                TRI-PARTY LEASE AGREEMENT WITH A PURCHASE OPTION

                                      Among

                                PLATINUM FOX, LLC

                                       And

                              EMERALD CHIMERA, LLC

                                       And

                      IDAHO CONSOLIDATED METALS CORPORATION

                 Dated and Effective this 16th Day of July, 1999
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THIS TRI-PARTY LEASE AGREEMENT WITH A PURCHASE OPTION (the "Agreement") by and
between, PLATINUM FOX, LLC, a State of Washington, United States of America,
limited liability company ("Fox"), AND, EMERALD CHIMERA, LLC, a State of
Washington, United States of America limited liability company ("EC"), AND,
IDAHO CONSOLIDATED METALS CORPORATION, a corporation duly incorporated and
validly subsisting pursuant to the laws of the Province of British Columbia,
Canada ("ICMC") is made effective this 16"' day of July, 1999.

                                    RECITALS

         WHEREAS Fox currently owns an undivided one hundred percent (100%)
right, title and interest in and to certain unpatented mining claims ("Clams")
known as the Chrome Mountain Property located in Sweet Grass County, Montana, a
complete list and description of which is attached as Schedule "A" (the
"Property");

         AND WHEREAS pursuant to a lease agreement dated July 15 1999, between
Fox and EC (the "EC Lease"), a copy of the EC Lease is attached as Schedule "B"
hereto, Fox has leased the Claims to EC for the purpose of EC facilitating the
exploration of the Claims. EC does not have an option to purchase the Claims
under the EC Lease;

         AND WHEREAS EC would like to sublease the Property to ICMC to further
the exploration and development of the Property and ICMC is a qualified firm to
further explore and develop the Property;

         AND WHEREAS ICMC would like to sublease the Property from EC and
acquire an option to purchase the Property from Fox;

IN CONSIDERATION of the covenants and agreements hereinafter set forth and other
good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged by each of Fox, EC and ICMC, the above parties agree to the
following:

                              SECTION 1 - SUB-LEASE

l.       l) EC hereby grants, leases and demises its interest in the Property
         unto ICMC, its successors and assigns, for the term and for the
         purposes hereinafter provided, including, but without being limited to
         all Ore (as defined herein), minerals, and mineral rights, and all
         water and water rights, in, upon and under the Property, and all right,
         title and interest which may be acquired by or for Fox or EC, in or
         pertaining to the Property or any part thereof, during the term of this
         Agreement except those specific reservations contained herein in
         Section 12 hereof.

1.2)     Pursuant to Section 15 of the EC Lease, Fox hereby consents to the
         grant of the sublease to ICMC.

TRI-PARTY LEASE AGREEMENT WITH A PURCHASE OPTION -2
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                           SECTION 2 - TITLE TO CLAIMS

2.1)     Fox represents, warrants and covenants to ICMC that it is the sole
         recorded and beneficial owner and controller of the Property as set
         forth in the attached Schedule "A"; the Property is free and clear of
         all liens, charges and encumbrances, other than the EC Lease and it has
         no knowledge of any adverse claim or encumbrance upon the Property
         other than with respect to the EC Lease; and the Claims comprising the
         Property are valid and subsisting mineral claims and are in good
         standing under all applicable laws and regulation and all taxes,
         assessments and filing required in this regard have been timely paid or
         filed and Fox has provided ICMC with all of its title information and
         related documents. Fox does not make title representation beyond those
         specifically disclosed hereby.

2.2)     Fox further represents, warrants and covenants that all of the
         unpatented Claims have been located and acquired in compliance with the
         laws of the State of Montana, and with all laws of the United States of
         America governing location of the Claims.

2.3)     Fox and EC shall cooperate and do everything in its power to put title
         in a marketable state. with expense to be borne by ICMC.

                         SECTION 3 -PURPOSES AND RIGHTS

3.1)     EC hereby grants, demises, leases, lets, transfers and otherwise
         converts to ICMC, its successors and assigns, the free, exclusive,
         unrestricted and uninterrupted right of access, ingress and egress to,
         and to enter into and upon the Property, and each and every part
         thereof (including all rights, if any, of EC with respect to placer
         mining, timber rights, rights of access across adjoining lands under
         Federal or State law and water rights), so long as this Agreement
         remains in effect, and in particular to explore for, develop, mine (by
         underground mining, surface mining, strip mining, placer mining, or any
         other surfaces or substitute method), remove, leach in place, treat,
         produce, market, ship and sell, for its own account, all merchantable
         or non-merchantable Ore, metals and minerals which are or may be found
         therein or thereon.

3.2)     ICMC and its successors or assigns are also hereby granted the right to
         make any use or uses of the Property and each and every part thereof
         consistent with the foregoing purposes, including, but not limited to,
         the full right, authority and privilege of placing and using therein
         excavations, openings, shafts, ditches and drains, and of constructing,
         erecting, maintaining, using, and at its election, removing, any and
         all buildings, structures, plants, machinery, equipment, railroads,
         roadways, pipelines, electrical power lines and facilities, stockpiles,
         waste piles, tailings ponds and facilities, settling ponds, and all
         other improvements, property and fixtures as may be necessary,
         convenient, or suitable for mining, removing, beneficiating,
         concentrating, smelting, extracting, leaching, refining and shipping of
         Ore, minerals or products thereof, or for any activities incidental
         thereto, or to any of the rights or privileges of ICMC hereunder.

TRI-PARTY LEASE AGREEMENT WITH A PURCHASE OPTION -3
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3.3)     ICMC and its successors or assigns are further granted the right,
         insofar as Fox lawfully may grant the right, to divert streams, to
         remove lateral and subjacent supports, to cave, subside or destroy the
         surface or any part thereof, to deposit earth, rocks, waste, lean Ore
         and materials on any parts of the Property where it will not interfere
         with mining, to leach the same, and to commit waste the extent
         necessary, usual or customary in carrying out any or all of the above
         rights, privileges and purposes; IT IS PROVIDED, however, that if any
         of the mining operations hereunder result in damage to any of Fox's or
         EC's buildings or personal property existing on the Property on the
         date this Agreement is executed, Fox and EC shall be reimbursed for the
         reasonable value of the same.

3.4)     ICMC and its successors or assigns shall explore, conduct geological
         and geophysical investigations, drilling, or otherwise seek, in the
         manner and to the extent that they, in their sole discretion, deem
         advisable, to locate and develop Ore, minerals, and metals in
         commercial quantities in and upon the Property.

3.5)     ICMC from time to time at its discretion but in the name of Fox, and
         subject to written approval from Fox and EC may:

                (a) amend, restake, and refile any of the Property or any
         documents associated therewith;

                (b) stake unpatented federal mill sites;

                (c) apply for patent to one, some, or all unpatented federal
         claims;

                (d) locate State mining claims, leasehold locations, or
         prospecting sites on top of unpatented federal claims or unpatented
         federal mill sites;

                (e) if applicable, request that the State of Montana seek to
         obtain tentative approval or patent to lands included within some or
         all of the Property that have been selected by the State of Montana but
         have not yet been tentatively approved or patented to the State of
         Montana;

                (f) if applicable, locate State mining claims or leasehold
         locations within State prospecting sites or lands;

                (g) exercise any other rights or options of Fox or EC with
         respect to the Property or any portion thereof under any law or
         regulation heretofore or hereafter enacted or promulgated, including
         but not limited to any law or regulation (i) requiring conversion of
         existing mining locations or other mining interests to one or more
         types of mining locations or other mining interests, (ii) requiring
         owners or holders of existing mining locations or other mining
         interests to comply with some or all of the requirements of new or
         amended mining laws or regulations, or (iii) requiring owners or
         holders of existing mining locations or other mining interests to
         commence patent or lease proceedings within a specified period of time.

TRI-PARTY LEASE AGREEMENT WITH A PURCHASE OPTION -4
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3.6)     When required in connection with any such amendment, relocation,
         restaking, re-recording, refiling, replacement, top-filing, patenting,
         leasing, or other action, Fox agrees to execute such certificates of
         abandonment, certificates of location, or other documents, to
         participate in any action or proceeding relating to such actions, to
         allow any such action or proceeding to be taken or prosecuted in Fox's
         name, or to take such other actions as ICMC reasonably requests in
         connection therewith. All rights acquired by ICMC on behalf of Fox
         pursuant hereto shall become part of the Property subject to this
         Agreement. All expenses incurred by Fox at the request of ICMC in
         connection with undertaking or prosecuting any such actions shall be
         borne by ICMC.

3.7)     If the United States, the State of Montana, or any third party attacks
         the validity of any of the Claims or Additional Claims comprising the
         Property, ICMC shall have no obligation to defend the validity thereof.
         However, ICMC, at its sole discretion, may participate in any defense
         of the Claims or Additional Claims.

                        SECTION 4- TERM AND CONSIDERATION

4.1)     The term of this Agreement shall be for an aggregate period of five (5)
         years, consisting of five successive individual one year terms
         renewable as set forth below. The renewal of each one-year period shall
         require an independent geological evaluation with a recommendation to
         continue. All lease renewals will be subject to an independent
         geological evaluation acceptable to the Vancouver Stock Exchange (the
         "VSE") as well as the acceptance of the VSE.

4.2)     The following consideration shall be payable by ICMC in connection with
         the sublease granted by EC to ICMC hereunder:

                (a) Upon the execution of this Agreement, ICMC will issue to EC
         One Hundred Fifty Thousand (150,000) shares of its common stock and pay
         to EC Nineteen Thousand Five Hundred United States Dollars ($19,500USD)
         as consideration for the first year lease (the "Lease") granted
         hereunder;

                (b) If ICMC elects to renew the Lease for an additional one year
         term beyond the first year, ICMC shall issue to EC Two Hundred Thousand
         (200,000) shares of its common stock on or before the date which is one
         (1) year from the date of this Agreement;

                (c) If ICMC elects to renew the Lease for a third year it will
         issue to EC an additional Two Hundred Thousand (200,000) shares of its
         common stock on or before the date which is two (2) years from the date
         of this Agreement;

                (d) If ICMC elects to renew the Lease for a fourth year it shall
         issue to EC Three Hundred Seventy Five Thousand (375,000) shares of its
         common stock on or before the date which is three (3) years from the
         date of this Agreement, provided that the independent geological
         evaluation conducted with respect to the Property at the end of the
         third year, but
TRI-PARTY LEASE AGREEMENT WITH A PURCHASE OPTION -5
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         before the start of the fourth year, must include the commission of a
         feasibility study based on a drill indicated resource. In the event
         that the exploration and development of the Property has not reached
         that stage of development at that time, but the independent geological
         evaluation recommends continued exploration, the Lease shall remain in
         force and effect and no stock or consideration shall be payable until a
         feasibility study has been initiated; and

                (e) If ICMC elects to renew its lease for a fifth year it shall
         pay EC Five Hundred Seventy Five Thousand (575,000) shares of its
         common stock on or before the date which is four (4) years from the
         date of this Agreement.

4.3)     ICMC shall have the option to elect to extend the term of this
         Agreement for an additional five (5) year period consisting of five (5)
         successive individual one (1) year terms exercisable by payment of
         Fifty Thousand United States Dollars ($50,000USD) to EC and the
         incurrance of Two Hundred Fifty Thousand United States Dollars
         ($250,000USD) in Expenditures each year. The cash portion of the
         consideration paid directly to EC may be converted to common shares of
         ICMC ("Conversion Option"). The price of the common shares that EC can
         purchase under this Conversion Option shall be Eighty Five Percent
         (85%) of the average closing price of the common shares of ICMC on the
         VSE for the ten (10) trading days prior to the date of delivery of the
         cash consideration this Section 4.3 to EC. Renewal of each additional
         one (1) year term shall be renewable by providing notice to EC and Fox
         Thirty (30) Days prior to the then existing lease expiration.

                            SECTION 5 - EXPENDITURES

5.1)       ICMC shall incur expenditures with respect to the Property in the
           aggregate amount of Two Hundred Ten Thousand United States Dollars
           ($210,000USD) on or before June 10, 2002 in accordance with the
           following schedule:

                (a) Fifty Thousand United State Dollars ($50,000USD) on or
         before June 10, 2000;

                (b) Seventy Thousand United States Dollars ($70,000USD) on or
         before June 10, 2001; and

                (b) Ninety Thousand United States Dollars ($90,000USD) on or
         before June 10, 2002

5.2)     In the event that ICMC expends in excess of the required Expenditures
         during any period, such excess Expenditures shall be credited against
         the required Expenditures in any subsequent period, during the first
         five (5) years of this Agreement.

TRI-PARTY LEASE AGREEMENT WITH A PURCHASE OPTION -6
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                         SECTION 6 - OPTION TO PURCHASE

6.1)     Fox hereby grants to ICMC the option ("Option") to buy Fox's right,
         interest and title in Property for a purchase price of Five Million
         United States Dollars ($5,000,OOOUSD). To exercise the Option, ICMC
         must deliver to Fox a notice of exercise of Option in writing. On
         delivery by ICMC to Fox of the notice of exercise of Option, Fox will
         be contractually obliged to close the transactions contemplated by this
         Section 6 (subject to Fox's rights under Section 6.7).

6.2)     In consideration for the option granted by Fox hereunder, ICMC shall
         pay to Fox Five Hundred United States Dollars ($500USD) upon execution
         of this Agreement.

6.3)     If ICMC exercises the Option, ICMC shall pay a one quarter of one
         percent (0.25%) net smelter royalty returns (the "Purchase NSR") with
         respect to the Property. The Purchase NSR will become payable upon
         commencement of Commercial Production. The specific terms and
         conditions of the Purchase NSR are set forth in Schedule "C" hereto.

6.4)     If ICMC, its successors, or assigns should locate, discover or find Ore
         or Product on other claims ("Apex Claims") that Fox would have an
         interest in due to apex or lateral rights, Fox shall receive as
         additional consideration for the purchase of its right title and
         interest in the property a three percent (3.0%) net smelter royalty
         return (the "Apex NSR") with respect to any Ore or Product from Apex
         Claims. The Apex claims are further described and shown on the map
         attached hereto as Schedule "F." The Apex NSR shall be applicable to
         any Ore or Product discovered or located by ICMC, its successors or its
         assigns, either before or after the Property is purchased by ICMC
         pursuant to the exercise of the Option or the Second Option in Section
         23.2 of this Agreement. The Apex NSR shall be subject to further terms
         and conditions as set forth in Schedule C attached hereto.

6.5)     If ICMC should exercise its Option to buy Fox's right, interest and
         title in the Property as described in Section 6.1 above before the end
         of five year Lease term pursuant to this Agreement, including all
         unexercised Lease renewal option periods, EC agrees to execute a Lease
         Termination Agreement for the EC Lease at the time of exercise and EC
         agrees to waive its rights under Section 15.1 of the EC Lease. In
         consideration for executing a Lease Termination Agreement, ICMC shall
         issue to EC a non-transferable share purchase warrant for that number
         of common shares of ICMC equal to One Hundred Ten Percent (110%) of the
         number of shares subject to be, but not yet issued, with respect to all
         unexercised Lease renewal option periods as contemplated above as at
         the date of closing of the buyout. The share purchase price for the
         purchase of these shares shall be equal to the average closing price of
         the common shares of ICMC on the VSE for the ten (10) trading days
         prior to the date of closing of the buyout. The term of the warrant
         shall be no shorter than five (5) years.

6.6)     If ICMC should place, or attempt to place, the Property or any other
         claim that would be subject to a royalty under this Agreement, into
         Commercial Production ICMC shall exercise its purchase option under
         Section 6.1 or 23.2 of this Agreement.

TRI-PARTY LEASE AGREEMENT WITH A PURCHASE OPTION -7
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6.7)     If ICMC should exercise the Option, Fox shall have the right to elect
         to forego being bought-out by ICMC and may participate in the
         development of the Property further. Fox's participation shall not
         exceed forty percent (40%). Fox shall have sixty (60) days from the
         receipt of notification of ICMC's election to exercise the Option to
         review data and determine if it would like to elect to forego being
         bought out and participate in the development of the Property further.
         Fox's election to forego being bought out by ICMC shall be contingent
         upon the parties entering into a Joint Development Agreement for the
         further development of the Property.

                             SECTION 7 - DEFINITIONS

7.1)     The following defined terms, wherever used in this Agreement, shall
         have the meaning set forth below:

                  (a) "Commercial Production" means the commercial operation of
         the Property, or a portion thereof, but does not include milling or
         other treatment for the purposes of testing or milling or leaching by a
         pilot plant during the initial tune-up period of a plant. Commercial
         Production will be deemed to have commenced:

                           (i) if a plant is located on the Property, or a
                  portion thereof, on the first day of the month following the
                  first period of thirty (30) consecutive days during which
                  mineral products or other concentrates from the Property, or a
                  portion thereof, have been processed through such plant for
                  not less than fifteen (15) days at an average rate of not less
                  than 66 2/3% of the initial rated capacity (calculated in tons
                  per day) of such plant; or

                           (ii) if no plant is located on the Property or a
                  portion thereof, on the first day of the month following the
                  first period of thirty (30) consecutive days during which ore
                  or other concentrates from the Property, or a portion thereof,
                  has been shipped from the Property, or a portion thereof, on a
                  reasonably regular basis for the purpose of acquiring revenue;

                  (b) "Expenditures" means all expenses paid for or incurred by
         ICMC with respect to the exploration and development of the Property
         including, without limiting the generality of the foregoing, expenses
         paid for or incurred in connection with any program of surface or
         underground prospecting, exploring, geological, geophysical and
         geochemical surveying, diamond drilling and drifting, raising and other
         underground work, assaying and metallurgical testing, conduction
         feasibility studies, environmental studies, submissions to government
         agencies with respect to production permits, plan and mine design
         together with development and constructions thereof for the benefit of
         furthering mining activities at and upon the Property and other
         expenses ordinarily incurred in prospecting, exploring or developing
         mining lands, salaries and travel expenses of ICMC's officers and
         employees;

TRI-PARTY LEASE AGREEMENT WITH A PURCHASE OPTION -8
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                   (c) "Ore" means mineral material from the Property, the
         nature and composition of which, in the sole judgment of ICMC,
         justifies either (1) mining or removing such material from place during
         the term of this Agreement, and shipping and selling same, or
         delivering same to a processing plant for physical or chemical
         treatment, or (2) leaching in place during the term of this Agreement;

                  (d) "Waste" means earth, rock or material mined or removed
         from place in the Property during the term of this Agreement, but which
         is not Ore as defined above;

                  (e) "Product" means the following:

                         (i) all Ore mined or removed from place in the Property
                  during term hereof and shipped and sold by ICMC prior to
                  treatment; and

                         (ii) all concentrates, precipitates, and mill products
                  produced by or for ICMC from Ore mined or removed from place
                  in the Property, or from Ore leached in place in the Property,
                  during the term of this Agreement;

                  (f) "Property" means all Claims or Additional Claims made
         subject to this Agreement pursuant to the terms hereof.

                          SECTION 8 - AREA OF INTEREST

8.1)     During the term of this Agreement, either ICMC, Fox, or EC shall have
         the right to stake unpatented mining claims or prospecting sites or any
         other mineral interest ("Additional Claims") within one mile from the
         exterior boundaries of the Property (the "Area of Interest") and,
         subject to the provisions of this Section 8, any Additional Claims
         acquired during the term of this Agreement by either ICMC, Fox or EC
         within this Area of Interest shall be deemed to be included in the
         Property and be subject to the terms of this Agreement. Any unpatented
         mining claims or prospecting sites or other mineral interest ("Third
         Party Claims") acquired by ICMC within the Area of Interest owned by
         third parties, shall not be subject to the terms of this Agreement,
         provided that such third parties were not introduced into the Area of
         Interest by ICMC. If Additional Claims are located by Fox or EC within
         the Area of Interest, Fox or EC shall provide written notice and
         documentation regarding the Additional Claims to ICMC and ICMC shall
         thereafter have sixty (60) days to provide written notice to Fox or EC
         that it will accept or reject such Additional Claims for inclusion in
         this Agreement. If ICMC does not accept the Additional Claims, those
         Additional Claims shall not be included in this Agreement and Fox or EC
         shall be free to hold and explore or develop those Additional Claims
         independent of this Agreement.

8.2)     Provided, however, that with respect to any Additional Claims (within
         the Area of Interest) that become subject to the terms of this
         Agreement, ICMC shall be required to convey its interest in the
         Additional Claims to Fox as contemplated herein upon termination of
         this Agreement. Should either party conduct activities contemplated by
         the provisions of this Section 8 within the Area of Interest during the
         term of this Agreement, they shall notify the other party in writing
         within 30 days of the completion of each activity. For the purposes of

TRI-PARTY LEASE AGREEMENT WITH A PURCHASE OPTION -9
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         this Agreement, Additional Claims shall not act to increase the Area of
         Interests Third Party Claims acquired by ICMC shall not require the
         payment of any Purchase NSR payments to Fox or EC.

8.3)     Any Additional Claims shall become subject to all terms and conditions
         of this Agreement upon the giving by ICMC of the above-described notice
         of acceptances ICMC shall have no obligations to Fox, EC or others
         concerning any other Additional Claims within the Area of Interest,
         except as set forth hereunder.

8.4)     ICMC acknowledges that it has overstaked the Property. ICMC further
         acknowledges that Fox has superior rights and title to the Property and
         ICMC hereby agrees to convey and quit claim that portion of its SR
         Claims that overlap the Property to at the request of Fox.

8.5)     ICMC shall provide Fox and EC Thirty (30) Days advance written notice
         of any plans to abandon any of the Additional Claims.

8.6)     There is a certain interest in certain claims known as the Janets, that
         are within the Area of Interest that is undecided at this times This
         undecided interest and the Janets are specifically not included in this
         Agreement or subject to the Area of Interest provisions of this
         Agreements

8.7)     If ICMC should sell, transfer or assign any claim or fraction thereof,
         of the J-M Reef (as the J-M Reef is known, as asserted by Stillwater
         Mining Company as of July 16, 1999), that is within the Area of
         Interest of this Agreement, then ICMC shall pay to Fox a one percent
         (1s0 %) Gross Royalty on the proceeds received by ICMC from such sale,
         transfer or assignment.

               SECTION 9 - REPRESENTATIONS, WARRANTIES, COVENANTS
                           AND ACKNOWLEDGEMENTS OF FOX AND EC

9.1)     Fox and EC represents, warrants and covenants to and with ICMC while
         this Agreement between the parties hereto is in effect that:

                  (a) it will not sell, transfer, encumber, suffer any lien
         upon, dispose of or deal in the Property or title thereto;

                  (b) it will assist with ICMC in obtaining such permits and
         approvals as ICMC may require or consider advisable to comply with all
         regulatory or governmental requirements which affect the Property. In
         the event ICMC desires to apply for patent to any of the unpatented
         mining Claims or Additional Claims comprising the Property, Fox and EC
         agree to assist and cooperate with ICMC in such application, which
         applications shall be made in the name of Fox;

                  (c) it will notify ICMC of any knowledge, communication or
         notice relating to the Property;

TRI-PARTY LEASE AGREEMENT WITH A PURCHASE OPTION -10
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                  (d) it will keep all information and data concerning the
         Property secret and confidential and will not release any such
         information without prior written consent of ICMC;

                  (e) ICMC, so long as it performs all obligations and covenants
         on its part to be performed, shall peaceably possess and enjoy the
         Property without interruption or disturbance from Fox or any other
         person, firm or corporation;

                  (f) it owns the outright right to mine the Property by actual
         ownership free and clear of all liens and encumbrances except as
         disclosed to ICMC;

                  (g) it has no knowledge of any adverse claim or encumbrance
         upon the Property except as disclosed to ICMC;

                  (h) the Property is in good standing under all applicable laws
         and regulations and all taxes, assessments and filings have been timely
         paid or filed;

                  (i) it will indemnify and hold harmless ICMC from all
         liabilities, loss of any and all kinds and responsibility for
         environmental damages, charges, fines and penalties of every kind
         resulting from activities of Fox, EC or any other past owner, operator,
         lessor or lessee on the Property;

                  (j) it will not permit any part of the Property to be
         converted or title lost as a result of Fox not remaining in good
         corporate standing;

                  (k) it has the full right and authority to enter into this
         Agreement;

                  (1) it has received from ICMC all documentation required
         pursuant to United States securities laws, including a copy of any
         documents filed under each of the Form 10Q, 10K, 8Q and 8K, as
         applicable with the United States Securities and Exchange Commission

                  (m) it is not entering into this transaction as a result of
         any material changes with respect to the affairs of ICMC known to it
         (except for this transaction) which, to its knowledge, information and
         belief, were not publicly disclosed as of the date hereof;

                  (n) in entering into this Agreement and leasing the Property
         to ICMC in exchange for common shares of ICMC, it is acting as
         principal and will be acquiring the shares as principal for its known
         account and not on behalf of others and for the purpose of investment
         and not with an intention to effecting a distribution, and no other
         person, firm or other organization will have any beneficial interest
         whatsoever in the shares;

                  (o) it is a resident of the State of Washington, USA, for the
         purposes of all securities laws applicable to the transactions herein
         contemplated;

                  (p) it is familiar with ICMC's business affairs as ICMC
         disclosed in publicly available information, and acknowledges that ICMC
         has made available to it all publicly

TRI-PARTY LEASE AGREEMENT WITH A PURCHASE OPTION -11
<PAGE>
         available documents and records of ICMC in its possession, and has
         offered to EC an opportunity to discuss this investment with ICMC and
         representatives of ICMC and to obtain any additional information
         necessary to verify the accuracy of any information furnished, provided
         that EC acknowledges that no information furnished by ICMC constitutes
         investment, accounting, legal or tax advice, and that Fox is relying
         solely upon itself and its professional advisors for such advice;

                  (q) it has such knowledge and experience in financial and
         business matters as to be capable of evaluating the merits and risks
         with respect to the shares, and is able to bear the economic risks with
         respect to the shares, including the possibility that the shares may
         become worthless;

9.2)     For the purposes of this Section 9 of this Agreement, the knowledge,
         information and belief of Fox means the knowledge, information and
         belief of any director, senior officer, or shareholder of Fox after
         reasonable inquiry made by or on behalf of such director, senior
         officer or shareholders

9.3)     Fox and EC acknowledges that the representations, warranties and
         covenants contained in this Agreement are conditions upon which ICMC is
         entering this Agreement and are continuing conditions of ICMC's
         obligations hereunder and shall be expressed in any conveyance to ICMC
         made pursuant to exercise of the Option to purchase granted by Section
         6 of this Agreements Fox and EC shall indemnify and hold harmless ICMC
         from and against any and all losses, damages, costs, actions or suits
         arising out of or in connection with a breach of any representation,
         warrants or covenants contained herein.

9.4)       EC acknowledges that:

                    (a) any shares issued to EC hereunder will not be registered
         under the United States Act of 1933 (the "1933 Act") as the transaction
         in which they are being acquired is exempt under Section 4(2) of the
         1933 Act as not involving any public offering, that the reliance of
         ICMC and others on this exemption is predicated in part upon the
         representations and warranties of EC that EC will be acquiring the
         shares for its own account, with no present intention of selling or
         otherwise distributing the same to the public, which representations
         and warranties are hereby confirmed, and that the shares are therefore
         subject to restrictions on transfer in the United States or to any US
         person (as defined in Regulation S made pursuant to the 1933 Act),
         unless subsequently registered under the 1933 Act for an exemption from
         registration is available;

                    (b) EC, if it decides to offer, sell or otherwise transfer
         any of the shares, it will not offer, sell or otherwise transfer any of
         such shares, directly or indirectly unless:

                           (i) the sale is to ICMC, or;

                           (ii)the sale is made outside the United States in a
                  transaction meeting the requirements of Regulation S under the
                  1933 Act, or;

TRI-PARTY LEASE AGREEMENT WITH A PURCHASE OPTION -12
<PAGE>
                           (iii) the sale is made pursuant to the exemption from
                  the registration requirements under the 1933 Act provided by
                  Rule 144 there under and in accordance with any applicable
                  state securities or "Blue Sky" laws; or

                           (iv) the shares are sold in a transaction that does
                  not require registration under the 1933 Act or any applicable
                  US state laws and regulations governing the offer and sale of
                  securities and Fox or EC has, prior to such sale, furnished to
                  ICMC an opinion to that effect of counsel of recognized
                  standing experienced in matters involving the Act and
                  reasonably satisfactory to ICMC, or;

                           (v) EC distributes said shares to its members or
                  shareholders, and members and shareholders thereof, ("Share
                  Distribution") who have executed a shareholders agreement, an
                  example of which is attached as Schedule "D" hereto, with ICMC
                  agreeing to the same restrictions of transfer of said shares
                  contained in this Section 9 of this Agreement. Any Share
                  Distributions under this Section 9.4(b)(v) shall be made in a
                  manner that is in compliance with all applicable securities
                  laws and regulations.

9.5)     upon the issuance thereof, and until such time as the same is no longer
         required under applicable requirements of the 1933 Act or applicable US
         state laws and regulations, the certificates representing any of the
         shares shall bear the following legend:

                         "The Securities represented hereby have not been
                         registered under the United States Securities Act of
                         1933, as amended (the "U.S. Securities Act") and may be
                         offered, sold or otherwise transferred only (a) to the
                         Company, or (b) outside the United States in accordance
                         with Regulation S under the U.S. Securities Act, or (c)
                         inside the United States in accordance with (1) Rule
                         144A under the U.S. Securities Act or (2) Rule 144
                         under the U.S. Securities Act, if applicable, or (3)
                         with the prior written consent of the Company, or (4)
                         under another exemption from registration under the
                         U.S. Securities Act. Delivery of this certificate may
                         not constitute "good delivery" in settlement of
                         transactions on stock exchanges in Canada."

9.6)     There are restrictions on EC's ability to resell the shares and it is
         the responsibility of EC to find out what those restrictions are and to
         comply with them before selling the shares.

9.7)     ICMC has advised Fox and EC that ICMC is relying on an exemption from
         the requirements to provide Fox or EC with a prospectus and to sell
         securities through a persons registered to sell securities under the
         British Columbia Securities Act (the "Securities Act") and, as a
         consequence of acquiring securities pursuant to this exemption, certain
         protections, rights and remedies provided by the Securities Act,
         including statutory rights of rescission will not be available to Fox
         or EC.

TRI-PARTY LEASE AGREEMENT WITH A PURCHASE OPTION -13
<PAGE>
9.8)     All certificates representing shares issued in exchange therefore or in
         substitution thereof will bear the same legend.

                    SECTION 10 - REPRESENTATIONS, WARRANTIES, ACKNOWLEDGEMENTS,
                                 AND COVENANTS OF ICMC

10.1)    ICMC represents, warrants and covenants to and with Fox and EC while
         this Agreement between the parties hereto is in effect that:

                (a) it will keep the Property in good standing by payment of all
         taxes and assessments including payment of all state and federal
         filings and other transfer fees necessary to maintain ownership of the
         Property;

                (b) it will provide to Fox and EC promptly copies of surveys,
         assays, drill logs, and other similar documents obtained by or for ICMC
         relating to the Property;

                (c) it will provide to Fox and EC annually proposed programs of
         exploration work and budgets therefore prior to their implementation;

                (d) it will pay and discharge all accounts, expenses, and
         charges incurred by it in respect to work on the Property as they
         become due and to keep the title free of any lien;

                (e) it will indemnify and hold harmless Fox and EC from all
         liabilities, loss of any and all kinds and responsibility for
         environmental damages, charges, fines and penalties of every kind
         resulting from activities of ICMC on the Property;

                (f) it will prepare, in a timely manner, for submission (with
         contemporaneous copies to Fox and EC) all reports, affidavits,
         estimates and other filings or documentation of any and all types
         required to be submitted to local, State and federal government
         agencies having jurisdiction over the Property during the term of this
         agreement; and

                (g) ICMC is a valid and subsisting corporation duly incorporated
         and in good standing under the laws of the province of British Columbia
         with respect to the filing of reports with the British Columbia
         Registrar of Companies;

                (h) ICMC is a "reporting issuer" in British Columbia as that
         term is defined in the Securities Act;

                (i) the common shares of ICMC are listed on the VSE;

                (j) ICMC has good and sufficient right and authority to enter
         into this Agreement and to complete its transactions contemplated under
         this Agreement on the terms and conditions set forth herein;

TRI-PARTY LEASE AGREEMENT WITH A PURCHASE OPTION -14
<PAGE>
                (k) ICMC holds all material licenses and permits required for
         carrying on its business in the manner in which such business has been
         carried on and has the corporate power and capacity to own the assets
         owned by it and, to the best of ICMC's knowledge, to carry on the
         business carried on by it and is duly qualified to carry on business in
         all jurisdictions in which it carries on business;

                  (1) to the best of ICMC's knowledge, the execution and
         delivery of this Agreement, the performance of its obligations under
         this Agreement and the completion of its transactions contemplated
         under this Agreement will not conflict with, or result in the breach of
         or the acceleration of any indebtedness under, or constitute default
         under, the constating documents of ICMC or any indenture, mortgage,
         agreement, lease, license or other instrument of any kind whatsoever to
         which ICMC is a party or by which it is bound, or any judgment or order
         of any kind whatsoever of any court or administrative body of any kind
         whatsoever by which it is bound.

                  (m) ICMC has complied and will comply fully with the
         requirements of all applicable corporate and securities laws and
         administrative policies and directions, including, without limitation,
         the Securities Act in relation to the issue and trading of its
         securities and in all matters relating to the transactions contemplated
         by this Agreement;

                  (n) to the best of ICMC's knowledge, there are no undisclosed,
         beyond those contained in Schedule "E" to this Agreement, actions,
         suits, judgments, investigations or proceedings of any kind whatsoever
         outstanding, pending or threatened against or affecting ICMC at law or
         in equity or before or by any Federal, State, Provincial, Municipal or
         other governmental department, commission, board, bureau or agency of
         any kind whatsoever and, to the best of its knowledge, there is no
         basis therefor;

                  (o) no order ceasing, halting or suspending trading in
         securities of ICMC nor prohibiting the sale of such securities has been
         issued to and is outstanding against ICMC or its directors, officers or
         promoters or against any other companies that have common directors,
         officers or promoters and no investigations or proceedings for such
         purposes are pending or threatened;

                  (p) ICMC will reserve or set aside sufficient shares in its
         treasury to issue the Shares in accordance with this Agreement and upon
         their issuance all such Shares will be duly and validly issued as fully
         paid and non-assessable common shares of ICMC registered in the name of
         EC free and clear of all voting restrictions, and, except as may be
         created by EC, liens, charges or encumbrances of any kind whatsoever;

                  (q) during the term of this Agreement ICMC shall make all
         filings and shall do all things required by British Columbia securities
         laws to permit EC to resell any Shares issued to it free of any hold
         periods or resale restrictions at the conclusion of a four month period
         following the issuance of such Shares pursuant to Blanket Order and
         Ruling #98/7, or any successor instrument, issued by the British
         Columbia Securities Commission;

TRI-PARTY LEASE AGREEMENT WITH A PURCHASE OPTION -15
<PAGE>
                  (r) in the event of a subdivision or consolidation or other
         capital change affecting the common shares of ICMC, the Shares to be
         issued following such event will be adjusted on the same basis as the
         other common shares of ICMC; and

                  (s) upon execution of this Agreement, ICMC shall deliver to EC
         such legal opinions of ICMC's legal counsel, addressed to EC and its
         legal counsel and dated as of the date of this Agreement, in form and
         content acceptable to EC acting reasonably relating to the trade and
         distribution and resale of the common shares of ICMC to be issued to EC
         pursuant to this Agreement (the "Shares") and to such other matters as
         EC may reasonably require.

10.2)    The above representations, warranties and covenants are continuing
         conditions of Fox's and EC's obligations hereunder and shall be
         expressed in any conveyance to ICMC made pursuant to exercise of the
         Option to purchase granted by Section 6 of this Agreement.

10.3)    ICMC acknowledges and will assist EC in distributing any shares that EC
         receives from ICMC to its members and their members as allowed in
         Section 9.4(b)(v) of this Agreement.

                       SECTION 11 - ANNUAL ASSESSMENT WORK

11.1)    ICMC and its successors or assigns shall perform all annual assessment
         work, and if required, pay maintenance fees and other costs required by
         law to hold and maintain in good standing the Property for each
         assessment year, as defined by statute, during the currency of this
         Agreement and ending upon the date this Agreement expires. ICMC or its
         successors or assigns shall then perform all annual assessment work for
         any additional term or terms of this Agreement in accordance with State
         and Federal regulations.

11.2)    If this Agreement expires or is terminated after the first day of July
         in any assessment year, ICMC shall perform the required assessment work
         or pay the maintenance fees for the Property with respect to the
         remainder of that assessment year, and shall have the right to enter
         onto the Property at any time or times during the remainder of said
         assessment year to perform or complete the above-required assessment
         work for said assessment year, without payment or other obligation to
         Fox or others.

11.3)    ICMC shall pay any and all annual claim maintenance fees due any
         governmental regulatory agency, including the United States Department
         of the Interior, Bureau of Land Management no later than Fifteen (15)
         Days before their due date.

11.4)    ICMC shall provide documentation to Fox and EC of all payments,
         filings, or other related claim maintenance documentation.

          SECTION 12 - EXCLUSION OF A PORTION OR PORTIONS OF THE CLAIMS

12.1)    At any time during the term of this Agreement, ICMC may exclude from
         the provisions of this Agreement any Claim or Additional Claims covered
         hereby by giving notice of the same in writing to Fox, but in such
         event this Agreement shall be deemed to continue in full force

TRI-PARTY LEASE AGREEMENT WITH A PURCHASE OPTION -16
<PAGE>
         and effect as to any and all remaining Claims or Additional Claims.
         Upon and after the giving of such notice:

                  (a) the terms "Property" or "Claims" as used herein shall not
         include the Claims so dropped and excluded;

                  (b) ICMC shall surrender possession of such excluded Claims or
         Additional Claims to Fox and shall execute and deliver to Fox such
         instruments as may be reasonably necessary to evidence the
         relinquishment by ICMC of any interest in such claims, and ICMC shall
         have no further obligations with respect to such Claims or Additional
         Claims except as otherwise provided in this Section 12s Relinquishment
         or exclusion of any of the Claims or Additional Claims by ICMC shall
         not reduce consideration to Fox required hereunder.

12.2)    ICMC has agreed that Fox and EC shall have certain placer mining rights
         as enumerated herein and ICMC shall not be entitled to the value of any
         of Fox's or EC's work on production therefrom.

                               SECTION 13 - TAXES

13.1)    ICMC shall pay promptly before delinquency all taxes, if any, and
         assessments, general, special, ordinary and extraordinary, that may be
         levied or assessed during the term of this Agreement upon the Property,
         and upon all Ore and Product therefrom. All such taxes for the year in
         which this Agreement is executed, and for the year in which this
         Agreement terminates, shall be prorated between Fox and ICMC. ICMC
         always shall have the right to contest in the courts or otherwise, in
         its own name or in the name of Fox, the validity or amount of any such
         taxes or assessments, if it deems the same unlawful, unjust, unequal or
         excessive, or to take such other steps or proceedings as it may deem
         necessary to secure a cancellation, reduction, readjustment or
         equalization thereof, before it shall be required to pay the same. ICMC
         shall not permit the Claims or any part thereof to be conveyed, or
         title lost by Fox, as the result of nonpayment of such taxes or
         assessments. ICMC shall, upon request, furnish to Fox duplicate
         receipts for all such taxes and assessments when paid.

13.2)    ICMC shall not be liable for any taxes levied on or measured by income,
         or taxes applicable to Fox or EC, based upon payments under this
         Agreement.

13.3)    Nothing in the foregoing shall be construed to obligate ICMC to pay
         such portion of any tax as is based upon the value of improvements,
         structures, or personal property made, placed or used on any part or
         parts of the Property by or for Fox and EC or by an owner of surface
         rights other than ICMC. If Fox or EC receives tax bills or claims which
         are the responsibility of ICMC hereunder, the same shall be promptly
         forwarded to ICMC for appropriate actions

                       SECTION 14 - REPORTS AND INSPECTION

14.1)    ICMC shall deliver to Fox and EC, each year during the term hereof, if
         requested by Fox or EC upon Fox or EC requesting same, copies of such
         maps, cross sections, and other

TRI-PARTY LEASE AGREEMENT WITH A PURCHASE OPTION -17
<PAGE>
         engineering data concerning the quality and location of Ore and
         material mined from the Property as ICMC customarily prepares or
         obtains for its own records, which information shall not require
         preparation of special records or reports by ICMC. This information
         shall be furnished, if requested, on or before the tenth day of June in
         each year during the term hereof, and the data contained therein shall
         be stated as it existed at the close of the preceding calendar year.

14.2)    ICMC shall not be required to disclose its own current estimates and
         calculations of the grade and tonnage of Ore reserves.

14.3)    On or before the first day of each January, April, July and October
         during the term hereof, ICMC shall deliver to Fox detailed statements
         for the preceding calendar quarter, showing separately the respective
         quantity and average analysis of Product produced from the Property
         during such quarter.

14.4)    14.4) ICMC shall deliver to Fox the quarterly statements required under
         Section 14.3, above, showing calculation of ICMC's payments, if any,
         for calculation of payments to Fox.

14.5)    Upon termination of this Agreement, ICMC shall deliver to Fox a report
         of all exploration conducted by ICMC or its successors or assigns, on
         or in that part of the Property as to which this Agreement is being
         terminated. This report shall show the location of all such exploration
         work, the results thereof, the character of any Ore encountered, and
         ICMC's analysis of such Ore; it is provided, however, that in its above
         reports upon termination, ICMC shall not be required to disclose
         information concerning, or which might tend to reveal processes,
         techniques or equipment developed by or for ICMC, or with which it may
         be experimenting, or any processes, techniques or equipment which it is
         under obligation to any other person or company not to reveal.

14.6)    Fox, EC and its authorized agents, at Fox's and EC sole risk and
         expense, at all reasonable times, may enter upon the Property to
         inspect the same, and to measure the quantity and quality of Ore mined
         therefrom or remaining therein, provided that Fox or EC shall not
         unreasonably or unnecessarily hinder or interrupt ICMC's operations.
         Fox or EC shall indemnify and save harmless ICMC, its successors and
         assigns, from and against all liability, claims and causes of action
         for injury to or death of persons, or damage to property, including,
         without limitation, the person or property of Fox, EC and its agents,
         and third parties, in any manner resulting, wholly or in part, from the
         exercise of the foregoing rights by Fox, EC or its authorized agents.

14.7)    Fox, EC or its authorized agents, shall have the right to audit and
         inspect ICMC's accounts and records used in calculating payments to Fox
         hereunder, which right may be exercised, as to each quarterly payment,
         at any reasonable time during a period of one (1) year from and after
         the date on which the quarterly payment was paid-by ICMC.

TRI-PARTY LEASE AGREEMENT WITH A PURCHASE OPTION -18
<PAGE>
                          SECTION 15 - MANNER OF MINING

15.1)    All of ICMC's operations hereunder shall be conducted in a careful and
         workmanlike manner, in accordance with accepted practices of the
         mineral industry, without committing any unusual permanent waste or
         injury to any mine in the Property, or interference with the subsequent
         operation thereof, if not reasonably necessary in ICMC's operations.

15.2)    ICMC shall have no obligation, express or implied, to open or develop
         any mine or mines in the Property. Whenever ICMC deems it necessary or
         advisable, ICMC may discontinue or resume exploration, development,
         mining and production operations from time to time during the term
         hereof, so long as it meets its obligations hereunder to pay taxes and
         advance royalty or production royalty.

15.3)    Nothing herein shall require ICMC to develop a separate shaft or shafts
         in the Property or prevent ICMC from exercising the cross-mining rights
         herein after provided.

                            SECTION 16 - CROSS-MINING

16.1)    For the purpose of enabling ICMC to conduct, with greater economy and
         convenience, the mining and removing of Ore from the Property, ICMC is
         hereby granted the right, if it so desires, to mine and remove Ore,
         Product and materials from the Property through or by means of shafts,
         openings or pits which may be made in or upon adjoining or nearby
         property owned or controlled by ICMC or its successors and assigns.

16.2)    ICMC or its successors or assigns, may, if they so desire, use the
         Property and any shafts, openings and pits therein for the mining,
         removal, treatment and transportation of Ore and materials from
         adjoining or nearby property, or for any purpose connected therewith.

16.3)    For the purpose of enabling ICMC to conduct, to the best advantage of
         the parties hereto, and with greater economy and convenience, the
         mining, removal, handling and disposition of Ore and Product from the
         Property, and from other lands in which ICMC or its affiliated
         companies may be conducting mining operations, the operations of ICMC,
         and the said operations on other lands, may be conducted upon the
         Property and upon any and all such other lands as a single mining
         operation, to the same extent as if all such properties constituted a
         single tract of land. Nothing herein shall relieve ICMC from its
         obligations for payments or reports as set forth in this Agreement.

                       SECTION 17 - STOCKPILING AND WASTE

17.1)    ICMC shall have the right, at any time during the term hereof, to
         stockpile any Ore or Product mined or produced from the Property at
         such place or places as ICMC may elect, either upon the Property or
         upon any other lands owned or controlled by ICMC, its successors or
         assigns. The rights and liens of Fox in and to any such Ore or Product
         stockpiled on other lands shall not be divested by the removal thereof
         from the Property, but shall be the same in all respects as though such
         materials had been stockpiled on the

TRI-PARTY LEASE AGREEMENT WITH A PURCHASE OPTION -19
<PAGE>
         Property. If such other lands are now owned by ICMC, ICMC shall obtain
         from the owners thereof a properly executed instrument under which the
         owners of said other lands agree to recognize the interests and liens
         of Fox on Ore and Product stockpiled on said other lands.

17.2)    The stockpiling of Ore or Product from the Property on other lands
         shall not be deemed a removal or shipment thereof requiring payment of
         royalty thereon.

17.3)    The tax covenants set forth in this Agreement shall apply to Ore and
         Product from the Property stockpiled on other lands.

17.4)    ICMC shall have the right, at any time during the term hereof, to
         stockpile on the Property any Ore or materials mined or produced by
         ICMC or its affiliated companies from other lands. Fox agrees to
         recognize the rights and interests of others in such Ores and materials
         stockpiled on the Property, and to permit the removal thereof by ICMC
         at any time during the term of this Agreement, or by the owners thereof
         for a reasonable time after termination of this Agreement, all without
         liability or expense to Fox.

17.5)    All stockpiles on the Property shall be so placed as not to interfere
         with mining operations on the Property.

                               SECTION 18 - MIXING

18.1)    After Ore and Product from the Property have been sampled, where
         necessary, and weighed, or measured by volumetric survey, truck
         factors, or other industry practices, in such manner as will permit the
         computation of royalty to be paid hereunder, ICMC may mix the same with
         Ore, materials or products from other lands. ICMC shall maintain
         accurate tonnage and sampling records and shall furnish copies of such
         records to Fox in the event that ICMC pays any NSR payments to Fox.

                             SECTION 19 - TREATMENT

19.1)    ICMC shall have the right in its sole discretion and in any manner it
         deems fit, but shall not be required, to beneficial, concentrate,
         smelt, refine, leach, and otherwise treat, in any manner, any Ore,
         Product and materials mined or produced from the Property and from
         other lands. Such treatment shall be conducted in a careful and
         workmanlike manner. In exercising this right Ore or Product may be
         removed to a plant or plants established or maintained either upon the
         Property or elsewhere. It is provided, however, that any tailings or
         residue remaining on the Property for a period of one (1) year after
         the date on which this Agreement has expired, or has been terminated by
         ICMC as to all of the Property, shall be deemed abandoned by ICMC and
         thereupon shall become the Property of Fox.

19.2)    ICMC shall reclaim the Property in accordance with local, state, and
         federal laws relating to reclamation of mined land. In addition,
         underground mining areas shall not be left in any condition so as to be
         or become hazardous. Mine shafts, air courses, inclines, or horizontal
         workings are to be permanently sealed and abandoned in accordance with
         good mining practice. Prior to obtaining any necessary governmental
         approval of a reclamation plan for

TRI-PARTY LEASE AGREEMENT WITH A PURCHASE OPTION -20
<PAGE>
         the Property, ICMC will submit such reclamation plan for review by Fox
         and EC. The obligations set forth in this Section shall survive
         termination of this Agreement.

                              SECTION 20 - FOX LIEN

20.1)    Fox and EC shall at all times have, possess, and hold a lien upon all
         Ore and Product mined from the Property and from Apex Claims and
         shipped therefrom but not sold to a bona fide purchaser, and upon all
         improvements placed upon the Property by ICMC, as security for any
         unpaid balance of money due hereunder and as security for the
         performance by ICMC of each and all of ICMC's covenants hereunder. This
         lien may be enforced against any such property in like manner as liens
         conferred by chattel mortgages, or as any other lien security may be
         enforced under the laws of the State of Montana. Nothing herein
         contained, however, is intended or shall be construed to prevent the
         sale, shipment and removal of Ore or Product in the usual course of
         business, nor to prevent the removal of tools, machinery, equipment or
         other property at any time when ICMC is not in default. This lien shall
         not apply to Ore or Product sold to unrelated third parties.

               SECTION 21 - TITLE TO PROPERTY AND PROTECTING TITLE

21.1)    ICMC accepts Fox's title to the Claims as represented and warranted
         hereunder on the date of execution of this Agreement. ICMC or its
         successors or assigns have the right to protect, perfect or otherwise
         deal with title as deemed necessary by the current or future condition
         of title. Nothing herein shall be construed to transfer title of the
         Property to ICMC beyond the lease rights herein set forth.

                      SECTION 22 - INSURANCE AND INDEMNITY

22.1)    ICMC shall protect and defend Fox and EC against any and all damages,
         including, but not limited to, any and all environmental remediation
         liabilities, arising out of ICMC's operations on the Property. ICMC and
         shall indemnify Fox and EC against any liability resulting from ICMC's
         operations on the Property; provided, however, that Fox, EC or any
         agent acting on its behalf shall not have been a contributing cause to
         the event giving rise to any such damages. ICMC shall carry liability
         insurance protecting Fox and EC against damages arising out of ICMC's
         operations on the Property. ICMC shall have Fox and EC named as
         additional insured on all such insurance policies and shall provide
         copies of said policies to both Fox and EC.

                SECTION 23 - EXTRA TERMS UPON ELECTION TO EXTEND

23.1)    Upon the exercise of the option to renew the Lease (the "Second Lease")
         and to enter into a second five (5) year lease agreement, (the "Second
         Lease Agreement"), ICMC will pay to EC the agreed upon amount of stock
         and cash set forth in Section 4.3 hereof. All payments and other
         consideration in connection with the Second Lease will be subject to
         VSE approval.

TRI-PARTY LEASE AGREEMENT WITH A PURCHASE OPTION -21
<PAGE>
23.2)    If the lease term is extended pursuant to Section 4.3, ICMC shall
         continue to have the option ( the "Section Option") to buy Fox's right,
         interest and title in the Property from Fox for a purchase price of
         Five Million United States Dollars ($5,000,OOOUSD) with the purchase
         price to be adjusted by the change in the Consumer Price Index, All
         Items published by the United States Department of Labor, Bureau of
         Labor Statistics ("CPI"), for the period from thirty (30) days prior to
         the closing of the purchase of the Property under the Second Option to
         July, 1999. If the figure which the United States Department of Labor
         uses as a base of 100, for purposes of the CPI is changed, the CPI will
         continue to be used, but the value will be adjusted to account for this
         change. In the event that the CPI is discontinued or otherwise becomes
         unavailable, the parties shall undertake to agree upon a substitute
         index or a substitute method of adjustment. As additional consideration
         for the Second Option ICMC shall also pay Fox a one quarter of one
         percent (0.25%) Purchase NSR on the Property payable upon commencement
         of Commercial Production. The specific terms and conditions of the
         Purchase NSR will be the same as those set out in Schedule "C" hereto.
         If ICMC should purchase the Property under the Second Option ICMC shall
         also pay to Fox as additional consideration a three percent (3.0%) Apex
         NSR as contemplated in Section 6.2.

23.3)    If ICMC should exercise the Second Option, Fox shall have the right to
         elect to forego being bought-out by ICMC and may participate in the
         development of the Property further. Fox's participation shall not
         exceed forty percent (40%). Fox shall have sixty (60) days from the
         receipt of notification of ICMC's election to exercise the Option to
         review data and determine if it would like to elect to forego being
         bought out and participate in the development of the Property further.
         Fox's election to forego being bought out by ICMC shall be contingent
         upon the parties entering into a Joint Development Agreement for the
         further development of the Property.

                SECTION 24 - TERMINATION AND REMOVAL OF PROPERTY

24.1)    In the event of any default by ICMC in the performance of its
         obligations hereunder, Fox and EC shall give to ICMC written notice
         specifying the default. If the default is not cured within thirty (30)
         days after ICMC has received the notice, or if ICMC has not within that
         time begun action to cure the default and does not thereafter
         diligently prosecute such action to completion, in no case to exceed
         ninety (90) days, Fox and EC may terminate this Agreement by delivering
         to ICMC written notice of such termination, subject to ICMC's right to
         remove its property and equipment from the Property, as hereinafter
         provided. Fox and EC shall have no right to terminate this Agreement
         except as set forth in this paragraph and termination of this Agreement
         shall be Fox's and EC sole remedy.

24.2)    ICMC shall have the right to terminate this Agreement at any time upon
         thirty (30) days written notice delivered to Fox and EC. Upon such
         termination, all right, title and interest of ICMC under this Agreement
         shall terminate, subject to Section 24.3 hereof, and ICMC shall not be
         required to make further payments, or to perform any further
         obligations hereunder, including work and Expenditure commitments
         concerning the Property, except payments or obligations which have been
         accrued hereunder pursuant to the express provisions of this Agreement,
         and which have not been paid or performed.

TRI-PARTY LEASE AGREEMENT WITH A PURCHASE OPTION -22
<PAGE>
24.3)    Upon any termination of this Agreement, whether by expiration of the
         term hereof or by act of either party, ICMC shall have a period of one
         (1) year from and after the effective date of termination in which to
         remove from the Property all of its machinery, buildings, structures,
         facilities, equipment and other property of every nature and
         description erected, placed or situated thereon, except supports placed
         in shafts, drifts or openings in the Property. Any property of ICMC not
         so removed at the end of said one (1) year period shall become the
         property of EC. In the event of force majeure, as hereinafter set
         forth, the terms and conditions of this paragraph shall be
         appropriately extended.

24.4)    Upon expiration of said removal period, ICMC shall place the Property
         in a safe and orderly condition, with all shafts, caves and openings
         fenced or protected as may be required by law or by regulation of any
         duly constituted governmental authority having jurisdiction in the
         Property.

24.5)    Promptly following termination or expiration of this Agreement, each
         party shall deliver to the others a fully executed release of this
         Agreement in recordable form.

                             SECTION 25 - ASSIGNMENT

25.1)    If, at any time during the term hereof, Fox intends to sell, assign,
         transfer or convey the Property or any part thereof, Fox shall deliver
         to ICMC at least thirty (30) days' prior written notice, describing all
         of the terms of the proposed sale, assignment, transfer or conveyance.
         ICMC shall have the exclusive right, during the above thirty (30) day
         period, at its election, to purchase the Property described in said
         notice, for a sum of money equal in value to the consideration which
         would be received by Fox under the terms set forth in the written
         notice. If ICMC elects to purchase the Property described in the
         notice, ICMC shall so notify Fox within the thirty (30) day period. If
         ICMC has not notified Fox of its above election within the thirty (30)
         day period, Fox shall have the right for an additional thirty (30) day
         period, after the expiration of the above notice, to sell, assign,
         transfer or convey its interest in the Property as described in said
         notice, upon the terms and conditions set forth in said notice, but all
         subject, however, to this Agreement, and all rights of ICMC, its
         successors and assigns, hereunder, and in and to the Property.

25.2)    Upon prior written consent of Fox and EC, ICMC shall have the right at
         any time to assign its rights hereunder, to contract with others to
         mine and to treat Ore, Product and materials from the Property, and to
         sublet the same for all purposes of this Agreement, with the same
         rights and privileges as are granted herein to ICMC; provided, however,
         that any such assignment, contract or sub-lease shall not operate as a
         release or discharge of ICMC from the performance of its obligations
         hereunder until and unless Fox and EC has consented thereto in writing.
         The written consent of Fox and EC shall not be unreasonably withheld.

25.3)    All covenants, conditions and provisions of this Agreement, including
         the obligation to payments as required hereunder, shall run with the
         land, and shall inure to the benefit of, and be binding upon, the
         parties hereto, and their respective heirs, executors, administrators,
         successors and assigns.

TRI-PARTY LEASE AGREEMENT WITH A PURCHASE OPTION -23
<PAGE>
                           SECTION 26 - FORCE MAJEURE

26.1)    ICMC shall not be liable for failure to perform any of its obligations
         hereunder during periods in which performance is prevented by any cause
         reasonably beyond ICMC's control, which causes hereinafter are called
         "force majeure." For purposes of this Agreement, the term "force
         majeure" shall include, but shall not be limited to, fires, floods,
         windstorms, and other damage from the elements, strikes, riots, action
         of government authority and acts of Gods The duration of this Agreement
         and all deadlines hereunder shall be extended for a period equal to the
         period for which performance is suspended by reason of force majeure.
         All periods of force majeure shall be deemed to begin at the time ICMC
         stops performance hereunder by reason of force majeure. ICMC shall
         notify Fox and EC of the beginning and ending date of each such periods

                SECTION 27 - DISPUTES NOT TO INTERRUPT OPERATIONS

27.1)    Subject to the above right of Fox and EC to terminate this Agreement,
         disputes or differences between the parties hereto shall not interrupt
         performance of this Agreement or the continuation of operations
         hereunder. In the event of any dispute or difference, operations may be
         continued, and settlements and payments may be made hereunder, in the
         same manner as prior to such dispute or difference, until the matters
         in dispute have been finally determined between the parties, and
         thereupon such payments or restitution shall be made as may be required
         under the terms of the settlement or final determination of the
         disputes

                         SECTION 28 - DISPUTE RESOLUTION

28.1)    Any and all matters of dispute or difference that may arise between
         ICMC, Fox or EC with respect to any act or thing done or to be done
         pursuant to the provisions of this Agreement, excepting the payment of
         royalty, taxes and assessments as aforesaid, shall be resolved by the
         following procedure:

                  (a) Unaided Negotiations. Should there develop disagreement or
         dispute among the parties hereto in connection with this Agreement, it
         shall be settled by the procedures specified in this Section 28s If one
         party believes any other party has breached this Agreement, notice
         thereof shall be given to the other party in writings The receiving
         party shall respond in writing to any such notice within seven (7)
         business days after receipts If the dispute is not promptly resolved,
         there shall follow within fourteen (14) days, or at such later time as
         may be mutually agreed to by the parties to the disagreement or
         dispute, a meeting of the parties to the disagreement or disputes The
         purpose of the meeting shall be to discuss and negotiate in good faith
         a resolution to any outstanding issues. The location of the meeting
         shall be in Spokane, Washington, United States of Americas

                  (b) Mediation. Should the procedure outlined in paragraph 28s1
         (a) fail to bring about a prompt resolution of the parties'
         disagreement or dispute, then within thirty (30) days following the
         meeting of the parties, such parties shall initiate a voluntary,
         non-binding mediation

TRI-PARTY LEASE AGREEMENT WITH A PURCHASE OPTION -24
<PAGE>
         conducted by a mutually-agreed mediators Should such parties be unable
         to agree upon a mediator, they shall request the Superior Court for
         Spokane County, State of Washington, United States of America to
         appoint a mediator for them. Each of the parties shall bear their own
         costs and expenses (including attorney fees) and their proportionate
         share of any other costs, fees or expenses associated with this
         mediation and endeavor in good faith to resolve their differences. The
         mediation shall be held in Spokane, Washington, United States of
         Americas

                  (c) Arbitration. In the event that the parties are unable to
         resolve any outstanding disagreement or dispute as provided above,
         then, the parties agree that said outstanding disagreement or dispute
         will be settled by binding arbitration. The arbitration will be
         conducted in accordance with the State of Washington Arbitration Act,
         RCW 7s04 et seq., in effect when the arbitration begins, as hereafter
         modified or supplemented, and shall be conducted by a single arbitrator
         experienced in the matters at issue selected by the parties. The
         prevailing party in any such arbitration shall be entitled to their
         reasonable attorneys' fees and costs, including fees for expert
         witnesses associated with the arbitration. The judgment or the award
         rendered by the arbitrator may be entered in any court having competent
         jurisdictions The arbitration shall be held in Spokane, Washington,
         United States of Americas The parties confirm that by agreeing to this
         alternate dispute resolution process, they intend, with the exception
         of emergency injunctive relief, to give up their right to have any
         dispute decided in court by a judge or jury.

                              SECTION 29 - NOTICES

29.1)    Any notice required or permitted to be given hereunder shall be deemed
         properly given upon delivering the same to the party to be notified, or
         upon mailing the notice, by registered or certified mail, return
         receipt requested, to the party to be notified, at the address
         hereinafter set forth, respectively, or such other address within the
         United States of America as the party to be notified may have
         designated prior thereto by written notice to the others

(a)      If to Fox:
                         Platinum Fox, LLC.
                         Mr. Rod Nicholls, Manager
                         716 South 348"' Street
                         Federal Way, WA 98003
                         USA
                         Phone: 253-838-8000
                         Facsimile: 253-874-2794

                         With a copy to:
                         Mr. Gregory Bs Lipsker, Esq.
                         Workland & Witherspoon, PLLC
                         714 Washington Mutual Financial Center
                         601 West Main Avenue
                         Spokane, WA 99201-0677
                         USA

TRI-PARTY LEASE AGREEMENT WITH A PURCHASE OPTION -25
<PAGE>
                         Phone: 509-455-9077
                         Facsimile: 509-624-6441

(b)      If to EC:
                         Emerald Chimera, LLC.
                         Mr. Rod Nicholls, Manager
                         716 South 348th Street
                         Federal Way, WA 98003
                         USA
                         Phone: 253-838-8000
                         Facsimile: 253-874-2794

                         With a copy to:
                         Mr. Gregory B. Lipsker, Esq.
                         Workland & Witherspoon, PLLC
                         714 Washington Mutual Financial Center
                         601 West Main Avenue
                         Spokane, WA 99201-0677 USA
                         Phone: 509-455-9077
                         Facsimile: 509-624-6441

(c)      If to ICMC:
                         Idaho Consolidated Metals Corporation
                         Mr. Delbert Steiner, President
                         PO Box 1124
                         Lewiston, ID 83501 USA
                         Phone: 208-743-0914
                         Facsimile: 208-746-6678

29.2)    Routine or regular reports and statements hereunder may be sent by
         regular mail addressed as above, without copies going to Gregory B.
         Lipsker, Esq. If, after proper mailing thereof, any of such reports are
         not received when due, the addressee will notify ICMC in accordance
         with the above provisions for notice, and ICMC shall have reasonable
         time to secure the delivery of the statement or report, or a duplicate
         thereof, without being in default hereunder.

                             SECTION 30 - RECORDING

30.1)    The parties hereto shall execute a memorandum or short recording
         counterpart of this Agreement, which counterpart shall be in form
         sufficient to constitute notice of this Agreement to third parties
         under the law of the State of Montana, but which counterpart shall not
         contain the amounts or rates of royalty hereunder, or other terms of
         this Agreement which the parties may elect not to disclose of record.
         The execution and recording of the above recording counterpart shall
         not limit, decrease, or increase, or in any manner affect any of the
         terms of this Agreement, or any rights, interest or obligations of the
         parties hereto.

TRI-PARTY LEASE AGREEMENT WITH A PURCHASE OPTION -26
<PAGE>
                 SECTION 31 - CONSENT OF REGULATORY AUTHORITIES

31.1)    This Agreement is specifically subject to the approval of the
         regulatory authorities of the Province of British Columbia and of the
         VSE.

31.2)    The parties agree that Fox and EC shall be fully informed and allowed
         to participate in obtaining approval of this Agreement from the
         regulatory authorities of the Province of British Columbia and of the
         VSE.

                            SECTION 32 - COUNTERPARTS

32.1)      This Agreement maybe signed in as many counterparts as maybe
           necessary and delivered by facsimile, each of which so signed shall
           be deemed to be an original, and such counterparts together shall
           constitute one and the same instrument and notwithstanding the date
           of execution shall be deemed to bear the date as at the 10' day of
           June, 1999.

                         SECTION 33 - FURTHER ASSURANCES

33.1)    The parties hereto agree to do or cause to be done all acts or thing
         necessary to implement and carry into effect this Agreement to the full
         extent including, without limitation, to cause their respective
         interests in the Property as it may appear from time to time to be
         recorded with appropriate government offices and in this connection to
         execute such documents as counsel for ICMC, EC or Fox may require.

                           SECTION 34 - MISCELLANEOUS

34.1)    Binding Provisions. The terms and provisions of this Agreement shall be
         binding upon and shall inure to the benefit of the heirs, successors
         and Transferees of the respective Members.

34.2)    Severability. In the event any sentence or paragraph of this Agreement
         is declared by a court of competent jurisdiction to be void, such
         sentence or paragraph shall be deemed severed from the remainder of the
         Agreement and the balance of the Agreement shall remain in effect.

34.3)    Headings. Section titles or captions contained in this Agreement are
         inserted only as a matter of convenience and for reference. Such titles
         and captions in no way define, limit, extend or describe the scope of
         this Agreement nor the intent of any provision of this Agreement.

34.4)    Meanings. Whenever required by the context, the singular shall include
         the plural, and viceversa and the masculine gender shall include the
         feminine and neuter genders, and viceversa.

TRI-PARTY LEASE AGREEMENT WITH A PURCHASE OPTION -27
<PAGE>
34.5)    Governing Law. All terms and provisions of this Agreement and the
         rights and duties of all of the parties shall be construed under the
         laws of the State of Washington, except for any legal interpretation
         involving real property law in relation to the Property. Any legal
         interpretation involving real property law shall be construed under the
         applicable laws of the State of Montana and the United States of
         America.

34.6)    Waiver. The failure of any party at any time to require strict
         performance of any provision of this Agreement shall not limit the
         right of the party to enforce the provision, nor shall any waiver or
         any breach of any provision be a waiver of any succeeding breach of
         that provision or a waiver of that provision or any other provision.
         Any waiver of any breach of any provision of this Agreement must be
         evidenced in writing signed by all parties hereto.

34.7)    Amendments. This Agreement or any tern hereof may be changed, waived,
         discharged or terminated only in writing, signed by all parties hereto.

34.7)    Geologic Consultations. On a semi-annual basis, ICMC, at its cost,
         shall consult with Dr. Paul Lechler, Ph.D. to review ICMC's exploration
         plans and results for the Property.

34.8)    Securities Registration. if ICMC should register any class of equity
         securities in the United States of America under either the Securities
         Act of 1933 or under any state Blue Sky Laws, ICMC shall also register
         those equity securities issued, and to be issued, under this agreement
         that are held by either EC, its successor or any member of EC or member
         thereof, who was a member at the date of this Agreement.

34.10)   Entire Agreement. This Agreement, together with its exhibits and such
         other agreements referred to in this Agreement, the terms of which are
         incorporated into this Agreement by this reference, supersedes any and
         all oral or written agreements previously made relating to the subject
         matter of this Agreement and constitutes the entire agreement of the
         parties relating to the subject matter of this Agreement.

34.11)   Exhibits Incorporated by Reference. All exhibits attached to and/or
         referenced in this Agreement are incorporated as additional terms of
         this Agreement by this reference.

34.12)   Payments. All payments to be made by ICMC to Fox or EC hereunder may be
         made by check or bank draft mailed or delivered to Fox or EC at Fox's
         or EC's address for notice purposes, or as set forth below, or for the
         account of Fox or EC at such bank or banks, or elsewhere, in one of the
         United States, as Fox or EC may designate from time to time by written
         notice to ICMC. Such bank or banks shall be deemed the agent of Fox or
         EC for the purpose of receiving, collecting and receipting for such
         payments.

34.13)   Announcements. No party to this Agreement shall make no public
         announcement about this Agreement, the Property or the subject matter
         hereof, without the prior approval of the parties, except as required
         by the VSE and the regulatory authorities of the Province of British
         Columbia. The parties to this Agreement shall not unreasonably withhold
         their approval of public announcements.

TRI-PARTY LEASE AGREEMENT WITH A PURCHASE OPTION -28
<PAGE>
34.14    Agreement Execution. Even though the parties signed this Agreement as
         of the date hand written below by the parties, this Agreement shall be
         deemed dated and effective as of July 16, 1999.

IN WITNESS WHEREOF, the parties hereto have caused this TRI-PARTY LEASE
AGREEMENT WITH A PURCHASE OPTION to be properly executed, all as of this 16" day
of July, 1999.

PLATINUM FOX, LLC

/S/ ROD NICHOLLS                               10/7/99
--------------------------------            ---------------
Rod Nicholls                                Date
Its: Co-Manager

EMERALD CHIMERA, LLC

/S/ ROD NICHOLLS                               10/7/99
--------------------------------            ---------------
Rod Nicholls                                Date
Its: Manager

IDAHO CONSOLIDATED METALS
CORPORATION
/S/ DELBERT STEINER                            10/7/99
---------------------------------           ---------------
Delbert Steiner                             Date
Its: President

TRI-PARTY LEASE AGREEMENT WITH A PURCHASE OPTION - 29
<PAGE>

           SCHEDULE "A" TO THE LEASE AGREEMENT WITH OPTION TO PURCHASE
                     DATED THE 16th DAY OF JULY, 1999 AMONG

                  PLATINUM FOX, LLC, EMERALD CHIMERA, LLC, AND
                     IDAHO CONSOLIDATED METALS CORPORATION

                               PLATINUM FOX CLAIMS
<PAGE>
                    United States Department of the Interior.

                            BUREAU OF LAND MANAGEMENT
                              Montana State Office
                      222 North 32nd Street, P.O. Box 36800
                          Billings, Montana 59107-6800
                             http://www.int.blm.gov/
MC 18076 et al.
921.8
                                                 Date Received:  August 17, 1999
                                                 Date Processed: August 19, 1999
Platinum Fox, LLC
c/o Workland & Witherspoon, PLLC
Attorneys-at-Law
714 Washington Mutual Financial Center
601 West Main Avenue
Spokane, Washington 99201--0677

                              Receipt of Document:

This acknowledges receipt of the Quit Claim Dead, executed July 15, 1999,
whereby Platinum Fox, Inc., conveyed their interest in the following mining
claims to Platinum Fox, LLC:
<TABLE>
<CAPTION>
 Serial Number                    Claim Name                    Serial Number               Claim Name
 -------------                    ----------                    -------------               ----------
<S>     <C>                       <C>                           <C>                         <C>
 MMC    18077                     Coors #57                     MMC  38898                  Chrome #8
 MMC    28602                     Iii No, 80                    MMC  38916                  Star
 MMC    28617                     Hi No. 96                     MMC  38917                  Star #1
 MMC    28618                     Hi No. 98                     MMC  38918                  Star #2
 MMC    33623                     Labatt #21                    MMC  38919                  Star #3
 MMC    38859                     Amanda                        MMC  38920                  Star #4
 MMC    38860                     Amanda No. 1                  MMC  38921                  Star #5
 MMC    38861                     Amanda No. 2                  MMC  38922                  Star #6
 MMC    38872                     Apex F                        MMC  38923                  Star # 7
 MMC    38873                     Atlas                         MMC  38924                  Star #8
 MMC    38874                     Atlas No.      1              MMC  38949                  Spruce
 MMC    38875                     Atlas No.      2              MMC  38950                  Spruce #1
 MMC    38876                     Atlas No,      3              MMC  38951                  Sunshine
 MMC    38877                     Atlas No.      4              MMC  38959                  Forge #1
 MMC    38878                     Atlas No.      5              MMC  40278                  Pine
 MMC    38879                     Atlas No.      6              MMC  68867                  LAKESIDE
 MMC    38880                     Atlas No.      7              MMC  68868                  LAKESIDE 1
 MMC    38081                     Atlas No.      8              MMC  68869                  Spruce 2
 MMC    38882                     Atlas No.      9              MMC  110587                 GOLDRIDGE      1
 MMC    313883                    Atlas No.      10             MMC  110588                 GOLDRIDGE      2
 MMC    38884                     Beverly                       MMC  110589                 GOLDRIDGE      3
 MMC    38885                     Beverly #1                    MMC  110590                 GOLDRIDGE      4
 MMC    38893                     Chrome #3                     MMC  110591                 GOLDRIDGE      5
 MMC    38894                     Chrome #4                     MMC  110592                 GOLDRIDGE      6
 MMC    38895                     Chrome #5                     MMC  165879                 CHROME
 MMC    38896                     Chrome #6                     MMC  202994                 CHROME NO.     1
 MMC    38897                     Chrome #7                     MMC  202995                 CHROME NO.     2
</TABLE>
The quit claim deed has been processed, and our records now show that Platinum
Fox. LLC, is the owner of the Coors #57, Hi No. 80, Hi No. 96, Hi No. 98, Labatt
#21, Amanda, Amanda No. 1. Amanda No. 2, Apex P, Atlas, Atlas No. 1 through
Atlas No. 10, Beverly, Beverly #l, chrome #3 through Chrome #8, star, Star #1
through Star #8, Spruce, Spruce #l, Sunshine, Pine, LAKESIDE, LAKESIDE 1, Spruce
2, GOLDRIDGE I THROUGH GOLDRIDGE 6, CHROME, CHROME NO. 1, and CHROME NO. 2
mining claims.
<PAGE>
MMC 18076 cc al.

In addition, our record:, show that Platinum Fox, LLC, Morton K. Whittaker, Ann
S. Whittaker, Robert S. Swanson, JoAnn Swanson, Lawrence McCready, and Lesa
McCready are the co-owners of the Forge #1 (MMC 38959) mining claim.

If you have any questions regarding your mining claims, please call me at (406)
896-5060.

                                                     Connie R. Schaff
                                                     Land Law Examiner
<PAGE>
           SCHEDULE "B" TO THE LEASE AGREEMENT WITH OPTION TO PURCHASE
                 DATED THE 16"' DAY OF JULY, 1999 AMONG PLATINUM
                       FOX, LLC, EMERALD CHIMERA, LLC, AND
                            IDAHO CONSOLIDATED METALS
                                   CORPORATION

                                    EC LEASE
<PAGE>
                                 LEASE AGREEMENT

                                      Among

                                PLATINUM FOX, LLC

                                       And

                              EMERALD CHIMERA, LLC

                 Dated and Effective this 15th Day of July, 1999

LEASE AGREEMENT - 1
<PAGE>
THIS LEASE AGREEMENT (this "Agreement") made effective this 15th day of July,
1999, by and between, PLATINUM FOX, LLC, a State of Washington, United States of
America, limited liability company ("Fox"), AND, EMERALD CHIMERA, LLC, a State
of Washington, United States of America limited liability company ("EC").

                                    RECITALS

         WHEREAS Fox currently owns an undivided one hundred percent (100%)
right, title and interest in and to certain unpatented mining claims (`Claims")
known as the Chrome Mountain Property located in Sweet Grass County, Montana, a
complete list and description of which is attached as Schedule "A" hereto and
referred to herein as the "Property";

           AND WHEREAS EC seeks to lease the Claims from Fox, for the purpose of
EC facilitating the exploration of the Claims;

           AND WHEREAS this Agreement will set forth all of the terms and
conditions under which Fox grants to EC a lease with respect to the Property,
for the purposes, and for the term, hereinafter provided;

IN CONSIDERATION of the covenants and agreements hereinafter set forth and other
good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged by both Fox and EC, the above parties agree to the following:

                           SECTION 1- EXCLUSIVE LEASE

l.1)     Fox hereby grants, leases and demises the Property unto EC, its
         successors and assigns, for the term and for the purposes hereinafter
         provided, including, but without being limited to all Ore, minerals,
         and mineral rights, and all water and water rights, in, upon and under
         the Property, and all right, title and interest which may be acquired
         by or for Fox, in or pertaining to the Property or any part thereof,
         during the term of this Agreement.

                           SECTION 2 - TITLE TO CLAIMS

2.1)     Fox represents, warrants and covenants to EC that Fox is the sole
         recorded and beneficial owner and controller of the Property as set
         forth in the attached Schedule "A"; the Property is free and clear of
         all liens, charges and encumbrances, and it has no knowledge of any
         adverse claim or encumbrance upon the Property; and the Claims
         comprising the Property are valid and subsisting mineral claims and are
         in good standing under all applicable laws and regulation and all
         taxes, assessments and filing required in this regard have been timely
         paid or filed and Fox has provided EC with all of Fox's title
         information and related documents. Fox does not make title
         representation beyond those specifically disclosed hereby.

LEASE AGREEMENT - 2
<PAGE>
2.2)     Fox further represents, warrants and covenants that all of the
         unpatented Claims have been located and acquired in compliance with the
         laws of the State of Montana, and with all laws of the United States of
         America governing location of the Claims, and that Fox has the full
         right and authority to enter into this Agreement.

2.3)     Fox shall cooperate and do everything in its power to put title in a
         marketable state. with expense to be borne by EC.

2.4)     Fox acknowledges that the representations, warranties and covenants
         contained in this Agreement are conditions upon which EC is entering
         this Agreement and are continuing conditions of EC's obligations
         hereunder and shall be expressed in any conveyance to EC hereunder. Fox
         shall indemnify and hold harmless EC from and against any and all
         losses, damages, costs, actions or suits arising out of or in
         connection with a breach of any representation, warrants or covenants
         contained herein.

                        SECTION 3- TERM AND CONSIDERATION

3.1)     The term of this Agreement shall be from July 15, 1999, to July 15,
         2010.

3.2)     As consideration for this Agreement, EC agrees to pay and maintain all
         local, state and federal annual assessments levied against the
         Property.

                       SECTION 4 - ANNUAL ASSESSMENT WORK

4.1)     EC and its successors or assigns shall perform all annual assessment
         work, and if required, pay maintenance fees and other costs required by
         law to hold and maintain in good standing the Property for each
         assessment year, as defined by statute, during the currency of this
         Agreement and ending upon the date this Agreement expires. EC or its
         successors or assigns shall then perform all annual assessment work for
         any additional term or terms of this Agreement in accordance with State
         and Federal regulations.

4.2)     If this Agreement expires or is terminated after the first day of July
         in any assessment year, EC shall perform the required assessment work
         or pay the maintenance fees for the Property with respect to the
         remainder of that assessment year, and shall have the right to enter
         onto the Property at any time or times during the remainder of said
         assessment year to perform or complete the above-required assessment
         work for said assessment year, without payment or other obligation to
         Fox or others.

4.3)     EC shall pay any and all annual claim maintenance fees due any
         governmental regulatory agency, including the United States Department
         of the Interior, Bureau of Land Management no later than Fifteen (15)
         Days before their due date.

4.4)     EC shall provide documentation to Fox of all payments, filings, or
         other related claim maintenance documentation.

LEASE AGREEMENT - 3
<PAGE>
                                SECTION 5 - TAXES

5.1)     EC shall pay promptly before delinquency all taxes, if any, and
         assessments, general, special, ordinary and extraordinary, that may be
         levied or assessed during the term of this Agreement upon the Property,
         and upon all Ore and Product therefrom. All such taxes for the year in
         which this Agreement is executed, and for the year in which this
         Agreement terminates, shall be prorated between Fox. EC always shall
         have the right to contest in the courts or otherwise, in its own name
         or in the name of Fox, the validity or amount of any such taxes or
         assessments, if it deems the same unlawful, unjust, unequal or
         excessive, or to take such other steps or proceedings as it may deem
         necessary to secure a cancellation, reduction, readjustment or
         equalization thereof, before it shall be required to pay the same. EC
         shall not permit the Claims or any part thereof to be conveyed, or
         title lost by Fox, as the result of nonpayment of such taxes or
         assessments. EC shall, upon request, furnish to Fox duplicate receipts
         for all such taxes and assessments when paid.

5.2)     EC shall not be liable for any taxes levied on or measured by income,
         or taxes applicable to Fox, based upon payments under this Agreement.

5.3)     Nothing in the foregoing shall be construed to obligate EC to pay such
         portion of any tax as is based upon the value of improvements,
         structures, or personal property made, placed or used on any part or
         parts of the Property by or for Fox or by an owner of surface rights
         other than EC. If Fox receives tax bills or claims which are the
         responsibility of EC hereunder, the same shall be promptly forwarded to
         EC for appropriate action.

                       SECTION 6 - REPORTS AND INSPECTION

6.1)     EC shall deliver to Fox, each year during the term hereof, if requested
         by Fox, copies of such maps, cross sections, and other engineering data
         concerning the quality and location of Ore and material mined from the
         Property as EC customarily prepares or obtains for its own records,
         which information shall not require preparation of special records or
         reports by EC. This information shall be furnished, if requested, on or
         before the tenth day of June in each year during the term hereof, and
         the data contained therein shall be stated as it existed at the close
         of the preceding calendar year.

6.2)     EC shall not be required to disclose its own current estimates and
         calculations of the grade and tonnage of Ore reserves.

6.3)     On or before the first day of each January, April, July and October
         during the term hereof, EC shall deliver to Fox detailed statements for
         the preceding calendar quarter, showing separately the respective
         quantity and average analysis of Product produced from the Property
         during such quarter.

LEASE AGREEMENT - 4
<PAGE>
6.4)    EC shall deliver to Fox the quarterly statements required under Section
        6.3, above, showing calculation of EC's payments, if any, for
        calculation of payments to Fox.

6.5)    Upon termination of this Agreement, EC shall deliver to Fox a report of
        all exploration conducted by EC or its successors or assigns, on or in
        that part of the Property as to which this Agreement is being
        terminated. This report shall show the location of all such exploration
        work, the results thereof, the character of any Ore encountered, and
        EC's analysis of such Ore; it is provided, however, that in its above
        reports upon termination, EC shall not be required to disclose
        information concerning, or which might tend to reveal processes,
        techniques or equipment developed by or for EC, or with which it may be
        experimenting, or any processes, techniques or equipment which it is
        under obligation to any other person or company not to reveal.

6.6)     Fox, and its authorized agents, at Fox's sole risk and expense, at all
         reasonable times, may enter upon the Property to inspect the same, and
         to measure the quantity and quality of Ore mined therefrom or remaining
         therein, provided that Fox shall not unreasonably or unnecessarily
         hinder or interrupt EC's operations. Fox shall indemnify and save
         harmless EC, its successors and assigns, from and against all
         liability, claims and causes of action for injury to or death of
         persons, or damage to property, including, without limitation, the
         person or property of Fox, its agents, and third parties, in any manner
         resulting, wholly or in part, from the exercise of the foregoing rights
         by Fox, or its authorized agents.

6.7)     Fox, or its authorized agents, shall have the right to audit and
         inspect EC's accounts and records used in calculating payments to Fox
         hereunder, which right may be exercised, as to each quarterly payment,
         at any reasonable time during a period of one (1) year from and after
         the date on which the quarterly payment was paid by EC.

                          SECTION 7 - MANNER OF MINING

7.1)     All of EC's operations hereunder shall be conducted in a careful and
         workmanlike manner, in accordance with accepted practices of the
         mineral industry, without committing any unusual permanent waste or
         injury to any mine in the Property, or interference with the subsequent
         operation thereof, if not reasonably necessary in EC's operations.

7.2)     EC shall have no obligation, express or implied, to open or develop any
         mine or mines in the Property. Whenever EC deems it necessary or
         advisable, EC may discontinue or resume exploration, development,
         mining and production operations from time to time during the term
         hereof, so long as it meets its obligations hereunder to pay taxes and
         advance royalty or production royalty.

7.3)     Nothing herein shall require EC to develop a separate shaft or shafts
         in the Property or prevent EC from exercising the cross-mining rights
         hereinafter provided.

LEASE AGREEMENT - 5
<PAGE>
                            SECTION 8 - CROSS-MINING

8.1)     For the purpose of enabling EC to conduct, with greater economy and
         convenience, the mining and removing of Ore from the Property, EC is
         hereby granted the right, if it so . desires, to mine and remove Ore,
         Product and materials from the Property through or by means of shafts,
         openings or pits which may be made in or upon adjoining or nearby
         property owned or controlled by EC or its successors and assigns.

8.2)     EC or its successors or assigns, may, if they so desire, use the
         Property and any shafts, openings and pits therein for the mining,
         removal, treatment and transportation of Ore and materials from
         adjoining or nearby property, or for any purpose connected therewith.

8.3)     For the purpose of enabling EC to.conduct, to the best advantage of the
         parties hereto, and with greater economy and convenience, the mining,
         removal, handling and disposition of Ore and Product from the Property,
         and from other lands in which EC or its affiliated companies may be
         conducting mining operations, the operations of EC, and the said
         operations on other lands, may be conducted upon the Property and upon
         any and all such other lands as a single mining operation, to the same
         extent as if all such properties constituted a single tract of land.
         Nothing herein shall relieve EC from its obligations for payments or
         reports as set forth in this Agreement.

                        SECTION 9 - STOCKPILING AND WASTE

9.1)     EC shall have the right, at any time during the term hereof, to
         stockpile any Ore or Product mined or produced from the Property at
         such place or places as EC may elect, either upon the Property or upon
         any other lands owned or controlled by EC, its successors or assigns.
         The rights and liens of Fox in and to-any such Ore or Product
         stockpiled on other lands shall not be divested by the removal thereof
         from the Property, but shall be the same in all respects as though such
         materials had been stockpiled on the Property. If such other lands are
         now owned by EC, EC shall obtain from the owners thereof a properly
         executed instrument under which the owners of said other lands agree to
         recognize the interests and liens of Fox on Ore and Product stockpiled
         on said other lands.

9.2)     The stockpiling of Ore or Product from the Property on other lands
         shall not be deemed a removal or shipment thereof requiring payment of
         royalty thereon.

9.3)     The tax covenants set forth in this Agreement shall apply to Ore and
         Product from the Property stockpiled on other lands.

9.4)     EC shall have the right, at any time during the term hereof, to
         stockpile on the Property any Ore or materials mined or produced by EC
         or its affiliated companies from other lands. Fox agrees to recognize
         the rights and interests of others in such Ores and materials
         stockpiled on the Property, and to permit the removal thereof by EC at
         any time

LEASE AGREEMENT - 6
<PAGE>
         during the term of this Agreement, or by the owners thereof for a
         reasonable time after termination of this Agreement, all without
         liability or expense to Fox.

9.5)     All stockpiles on the Property shall be so placed as not to interfere
         with mining operations on the Property.

                               SECTION 10 - MIXING

10.1)    After Ore and Product from the Property have been sampled, where
         necessary, and weighed, or measured by volumetric survey, truck
         factors, or other industry practices, in such manner as will permit the
         computation of royalty to be paid hereunder, EC may mix the same with
         Ore, materials or products from other lands. EC shall maintain accurate
         tonnage and sampling records and shall furnish copies of such records
         to Fox in the event that EC pays any NSR payments to Fox.

                             SECTION 11 - TREATMENT

11.1)    EC shall have the right in its sole discretion and in any manner it
         deems fit, but shall not be required, to beneficial, concentrate,
         smelt, refine, leach, and otherwise treat, in any manner, any Ore,
         Product and materials mined or produced from the Property and from
         other lands. Such treatment shall be conducted in a careful and
         workmanlike manners In exercising this right Ore or Product may be
         removed to a plant or plants established or maintained either upon the
         Property or elsewhere. It is provided, however, that any tailings or
         residue remaining on the Property for a period of one (1) year after
         the date on which this Agreement has expired, or has been terminated by
         EC as to all of the Property, shall be deemed abandoned by EC and
         thereupon shall become the Property of Fox.

11.2)    EC shall reclaim the Property in accordance with local, state, and
         federal laws relating to reclamation of mined lands In addition,
         underground mining areas shall not be left in any condition so as to be
         or become hazardous. Mine shafts, air courses, inclines, or horizontal
         workings are to be permanently sealed and abandoned in accordance with
         good mining practice. Prior to obtaining any necessary governmental
         approval of a reclamation plan for the Property, EC will submit such
         reclamation plan for review by Fox. The obligations set forth in this
         Section shall survive termination of this Agreement.

                              SECTION 12 - FOX LIEN

12.1)    Fox shall at all times have, possess, and hold a lien upon all Ore and
         Product mined from the Property and from Apex Claims and shipped
         therefrom but not sold to a bona fide purchaser, and upon all
         improvements placed upon the Property by EC, as security for any unpaid
         balance of money due hereunder and as security for the performance by
         EC of each and all of EC's covenants hereunder. This lien may be
         enforced against any such property in like manner as liens conferred by
         chattel mortgages, or as any other lien

LEASE AGREEMENT - 7
<PAGE>
         security may be enforced under the laws of the State of Montana.
         Nothing herein contained, however, is intended or shall be construed to
         prevent the sale, shipment and removal of Ore or Product in the usual
         course of business, nor to prevent the removal of tools, machinery,
         equipment or other property at any time when EC is not in defaults This
         lien shall not apply to Ore or Product sold to unrelated third parties.

               SECTION 13 - TITLE TO PROPERTY AND PROTECTING TITLE

13.1)    EC accepts Fox's title to the Claims as represented and warranted
         hereunder on the date of execution of this Agreements EC or its
         successors or assigns have the right to protect, perfect or otherwise
         deal with title as deemed necessary by the current or future condition
         of titles Nothing herein shall be construed to transfer title of the
         Property to EC beyond the lease rights herein set forth. ;

                      SECTION 14 - INSURANCE AND INDEMNITY

14.1)    EC shall protect Fox against any damages arising out of EC's operations
         on the Property and shall indemnify Fox against liability resulting
         from EC's operations on the Property; provided, however, that Fox or
         any agent acting on its behalf shall not have been a contributing cause
         to the event giving rise to any such damages.

                             SECTION 15 - ASSIGNMENT

15.1)    If, at any time during the term hereof, Fox intends to sell, assign,
         transfer or convey the Property or any part thereof, Fox shall deliver
         to EC at least thirty (30) days' prior written notice, describing all
         of the terms of the proposed sale, assignment, transfer or conveyance.
         EC shall have the exclusive right, during the above thirty (30) day
         period, at its election, to purchase the Property described in said
         notice, for a sum of money equal in value to the consideration which
         would be received by Fox under the terms set forth in the written
         notices If EC elects to purchase the Property described in the notice,
         EC shall so notify Fox within the thirty (30) day periods If EC has not
         notified Fox of its above election within the thirty (30) day period,
         Fox shall have the right for an additional thirty (30) day period,
         after the expiration of the above notice, to sell, assign, transfer or
         convey its interest in the Property as described in said notice, upon
         the terms and conditions set forth in said notice, but all subject,
         however, to this Agreement, and all rights of EC, its successors and
         assigns, hereunder, and in and to the Property.

15.2)    Upon prior written consent of Fox shall have the right at any time to
         assign its rights hereunder, to contract with others to mine and to
         treat Ore, Product and materials from the Property, and to sublet the
         same for all purposes of this Agreement, with the same rights and
         privileges as are granted herein to EC; provided, however, that any
         such assignment, contract or sub-lease shall not operate as a release
         or discharge of EC from

LEASE AGREEMENT - 8
<PAGE>
        the performance of its obligations hereunder until and unless Fox have
        consented thereto in writing. The written consent of Fox shall not be
        unreasonably withheld.

15.3)   All covenants, conditions and provisions of this Agreement, including
        the obligation to payments as required hereunder, shall run with the
        land, and shall inure to the benefit of, " and be binding upon, the
        parties hereto, and their respective heirs, executors, administrators,
        successors and assigns.

                         SECTION 16 - DISPUTE RESOLUTION

16.1)    Any and all matters of dispute or difference that may arise between Fox
         and EC with respect to any act or thing done or to be done pursuant to
         the provisions of this Agreement, excepting the payment of royalty,,
         taxes and assessments as aforesaid, shall be resolved by the following
         procedure:

                  (a) Unaided Negotiations. Should there develop disagreement or
         dispute among the parties hereto in connection with this Agreement, it
         shall be settled by the procedures specified in this Section 16. If one
         party believes any other party has breached this Agreement, notice
         thereof shall be given to the other party in writing. The receiving
         party shall respond in writing to any such notice within seven (7)
         business days after receipt. If the dispute is not promptly resolved,
         there shall follow within fourteen (14) days, or at such later time as
         may be mutually agreed to by the parties to the disagreement or
         dispute, a meeting of the parties to the disagreement or dispute. The
         purpose of the meeting shall be to discuss and negotiate in good faith
         a resolution to any outstanding issues. The location of the meeting
         shall be in Spokane, Washington, United States of America.

                  (b) Mediation. Should the procedure outlined in paragraph
         16.1(a) fail to bring about a prompt resolution of the parties
         disagreement or dispute, then within thirty (30) days following the
         meeting of the parties, such parties shall initiate a voluntary,
         non-binding mediation conducted by a mutually-agreed mediator. Should
         such parties be unable to agree upon a mediator, they shall request the
         Superior Court for Spokane County, State of Washington, United States
         of America to appoint a mediator for them. Each of the parties shall
         bear their own costs and expenses (including attorney fees) and their
         proportionate share of any other costs, fees or expenses associated
         with this mediation and endeavor in good faith to resolve their
         differences. The mediation shall be held in Spokane, Washington, United
         States of America.

                  (c) Arbitration. In the event that the parties are unable to
        resolve any outstanding disagreement or dispute as provided above, then,
        the parties agree that said outstanding disagreement or dispute will be
        settled by binding arbitration. The arbitration will be conducted in
        accordance with the State of Washington Arbitration Act, RCW 7.04 et
        seq., in effect when the arbitration begins, as hereafter modified or
        supplemented, and shall be conducted by a single arbitrator experienced
        in the matters at issue selected by the parties. The prevailing party in
        any such arbitration shall be entitled to their reasonable attorneys'
        fees and costs, including fees for expert witnesses associated with the
        arbitration. The

LEASE AGREEMENT - 9
<PAGE>
        judgment or the award rendered by the arbitrator may be entered in any
        court having competent jurisdiction. The arbitration shall be held in
        Spokane, Washington, United States of Americas The parties confirm that
        by agreeing to this alternate dispute resolution process, they intend,
        with the exception of emergency injunctive relief, to give up their
        right to have any dispute decided in court by a judge or jury.

                           SECTION 17 - MISCELLANEOUS

17.1)    Binding Provisions. The terms and provisions of this Agreement shall be
         binding upon and shall inure to the benefit of the heirs, successors
         and Transferees of the respective Members.

17.2)    Severability. In the event any sentence or paragraph of this Agreement
         is declared by a court of competent jurisdiction to be void, such
         sentence or paragraph shall be deemed severed from the remainder of the
         Agreement and the balance of the Agreement shall remain in effect.

17.3)    Heading. Section titles or captions contained in this Agreement are
         inserted only as a matter of convenience and for references Such titles
         and captions in no way define, limit, extend or describe the scope of
         this Agreement nor the intent of any provision of this Agreements

17.4)    Meanings. Whenever required by the context, the singular shall include
         the plural, and vice-versa and the masculine gender shall include the
         feminine and neuter genders, and vice-versa.

17.5)    Governing Law. All terms and provisions of this Agreement and the
         rights and duties of all of the parties shall be construed under the
         laws of the State of Washington, except for any legal interpretation
         involving real property law in relation-to the Property. Any legal
         interpretation involving real property law shall be construed under the
         applicable laws of the State of Montana and the United States of
         America.

17.6)    Waiver. The failure of any party at any time to require strict
         performance of any provision of this Agreement shall not limit the
         right of the party to enforce the provision, nor shall any waiver or
         any breach of any provision be a waiver of any succeeding breach of
         that provision or a waiver of that provision or any other provisions
         Any waiver of any breach of any provision of this Agreement must be
         evidenced in writing signed by all parties hereto.

17.7)    Amendments. This Agreement or any tern hereof may be changed, waived,
         discharged or terminated only in writing, signed by all parties hereto.

17.8)    Entire Agreement. This Agreement, together with its exhibits and such
         other agreements referred to in this Agreement, the terms of which are
         incorporated into this Agreement by this reference, supersedes any and
         all oral or written agreements previously made relating

LEASE AGREEMENT - 10
<PAGE>
         to the subject matter of this Agreement and constitutes the entire
         agreement of the parties relating to the subject matter of this
         Agreement.

17.9)    Exhibits Incorporated by Reference. All exhibits attached to and/or
         referenced in this Agreement are incorporated as additional terms of
         this Agreement by this reference.

IN WITNESS WHEREOF, the parties hereto have caused this LEASE AGREEMENT to be
properly executed, all as of the day and year first above written.

PLATINUM FOX, LLC.

/S/ SCOTT DANNENBRING
----------------------------------
Scott Dannenbring
Its: Co-Manager

EMERALD CHIMERA, LLC.
/S/ ROD NICHOLLS
----------------------------------
Rod Nicholls
Its: Manager

LEASE AGREEMENT - 11
<PAGE>
                                 "Schedule - A"

                    United States Department of the Interior.

                            BUREAU OF LAND MANAGEMENT

                              Montana State Office

                      222 North 32nd Street, P.O. Box 36800
                          Billings, Montana 59107-6800

                             http://www.int.blm.gov/

MC 18076 et al.
921.8
                                                 Date Received:  August 17, 1999
                                                 Date Processed: August 19, 1999
Platinum Fox, LLC
c/o Workland & Witherspoon, PLLC
Attorneys-at-Law
714 Washington Mutual Financial Center
601 West Main Avenue
Spokane, Washington 99201--0677

                              Receipt of Document:

This acknowledges receipt of the Quit Claim Dead, executed July 15, 1999,
whereby Platinum Fox, Inc., conveyed their interest in the following mining
claims to Platinum Fox, LLC:
<TABLE>
<CAPTION>
 Serial Number                    Claim Name                    Serial Number               Claim Name
 -------------                    ----------                    -------------               ----------
<S>     <C>                       <C>                           <C>                         <C>
 MMC    18077                     Coors #57                     MMC  38898                  Chrome #8
 MMC    28602                     Iii No, 80                    MMC  38916                  Star
 MMC    28617                     Hi No. 96                     MMC  38917                  Star #1
 MMC    28618                     Hi No. 98                     MMC  38918                  Star #2
 MMC    33623                     Labatt #21                    MMC  38919                  Star #3
 MMC    38859                     Amanda                        MMC  38920                  Star #4
 MMC    38860                     Amanda No. 1                  MMC  38921                  Star #5
 MMC    38861                     Amanda No. 2                  MMC  38922                  Star #6
 MMC    38872                     Apex F                        MMC  38923                  Star # 7
 MMC    38873                     Atlas                         MMC  38924                  Star #8
 MMC    38874                     Atlas No.      1              MMC  38949                  Spruce
 MMC    38875                     Atlas No.      2              MMC  38950                  Spruce #1
 MMC    38876                     Atlas No,      3              MMC  38951                  Sunshine
 MMC    38877                     Atlas No.      4              MMC  38959                  Forge #1
 MMC    38878                     Atlas No.      5              MMC  40278                  Pine
 MMC    38879                     Atlas No.      6              MMC  68867                  LAKESIDE
 MMC    38880                     Atlas No.      7              MMC  68868                  LAKESIDE 1
 MMC    38081                     Atlas No.      8              MMC  68869                  Spruce 2
 MMC    38882                     Atlas No.      9              MMC  110587                 GOLDRIDGE      1
 MMC    313883                    Atlas No.      10             MMC  110588                 GOLDRIDGE      2
 MMC    38884                     Beverly                       MMC  110589                 GOLDRIDGE      3
 MMC    38885                     Beverly #1                    MMC  110590                 GOLDRIDGE      4
 MMC    38893                     Chrome #3                     MMC  110591                 GOLDRIDGE      5
 MMC    38894                     Chrome #4                     MMC  110592                 GOLDRIDGE      6
 MMC    38895                     Chrome #5                     MMC  165879                 CHROME
 MMC    38896                     Chrome #6                     MMC  202994                 CHROME NO.     1
 MMC    38897                     Chrome #7                     MMC  202995                 CHROME NO.     2
</TABLE>
The quit claim deed has been processed, and our records now show that Platinum
Fox. LLC, is the owner of the Coors #57, Hi No. 80, Hi No. 96, Hi No. 98, Labatt
#21, Amanda, Amanda No. 1. Amanda No. 2, Apex P, Atlas, Atlas No. 1 through
Atlas No. 10, Beverly, Beverly #l, chrome #3 through Chrome #8, star, Star #1
through Star #8, Spruce, Spruce #l, Sunshine, Pine, LAKESIDE, LAKESIDE 1, Spruce
2, GOLDRIDGE I THROUGH GOLDRIDGE 6, CHROME, CHROME NO. 1, and CHROME NO. 2
mining claims.
<PAGE>
MMC 18076 cc al.

In addition, our records, show that Platinum Fox, LLC, Morton K. Whittaker, Ann
S. Whittaker, Robert S. Swanson, JoAnn Swanson, Lawrence McCready, and Lesa
McCready are the co-owners of the Forge #1 (MMC 38959) mining claims.

If you have any questions regarding your mining claims, please call me at (406)
896-5060.

                                                              Connie R. Schaff
                                                              Land Law Examiner
<PAGE>
           SCHEDULE "C" TO THE LEASE AGREEMENT WITH OPTION TO PURCHASE
                 DATED THE 16th DAY OF JULY, 1999 AMONG PLATINUM
                    FOX, LLC, EMERALD CHIMERA, LLC. AND IDAHO
                         CONSOLIDATED METALS CORPORATION

                 Purchase NSR and Apex NSR Terms and Conditions
<PAGE>
1. Purchase NSR and Apex NSR shall mean any and all amounts received, from time
to time, by the party obligated to pay the royalty (the "Owner") for product
extracted from ore mined from the Property or Apex Claims under Commercial
Production, deducting therefrom all expenses relating to the treatment of such
product at any smelter, refinery or mint, including all costs and charges for
the treatment, tolling, smelting, refining or minting of such product and all
costs and charges associated therewith, such as costs and charges in respect of
transportation, insurance, handling, weighing, sampling, assaying and marketing,
as well as penalties, representation charges, referee's fees and expenses,
import taxes and export taxes; that is to say, Purchase NSR and Apex NSR shall
mean the amount received by the Owner from a smelter, refinery or mint, as the
case may be, less all costs and charges associated with marketing, selling and
delivering the product to the smelter, refinery or mint, as the case may be.

2. If the product is treated at a smelter, refinery or mint owned, operated or
controlled by the Owner or an affiliate of it, all costs and charges referred to
in paragraph 1 hereof shall be equivalent to the prevailing competitive rates
charges by similar smelters, refineries or mints, as the case may be, in arm's
length transactions for the treatment of like quantities and quality of product.

3. Purchase NSR and Apex NSR shall be calculated by the Owner at the end of the
calendar quarter in which the ores or concentrates from the Property and Apex
Claims were sold or otherwise deemed disposed of and payment to the party
entitled to receive such payment (the "Royalty Holder") shall be made by the
Owner within forty-five (45) days after the end of each quarter.

4. The Owner shall provide the Royalty Holder with an annual statement of the
Purchase NSR and Apex NSR as of the end of each December 31 st on or before the
31 st day of March following such 31 st day of Decembers The Owner shall
maintain adequate records which shall be made available to the Royalty Holder
for a period of eight (8) months following the delivery of such annual statement
by the Owner so as to enable the Royalty Holder to verify the correctness of
their determination of NSR. The determination of whether an entry has been
properly categorised or calculated shall be finally made by an independent
auditor to be appointed by the Owner if the parties cannot agree between
themselves, provided, however, that after the eighth month following the
delivery of an annual statement, such annual statement shall be deemed to be
correct and the Royalty Holder shall waive all of their rights to challenge
same.

5. For the purposes of determining whether an amount received by the Owner is
properly received on account of "product extracted from ore mined from the
Property and Apex Claims", as defined in paragraph 1 hereof, the parties agree
that all amounts received by the Owner on account of future sales contracts,
hedging programs or other commodity arrangements which relate to product
extracted (or to be extracted) from ore mined (or to be mined) from the Property
and Apex Claims shall be deemed to be subject to the Purchase NSR or Apex NSR
and the Royalty Holder shall be entitled to receive payments in respect thereof.
<PAGE>
           SCHEDULE "D" TO THE LEASE AGREEMENT WITH OPTION TO PURCHASE
                 DATED THE 16th DAY OF JULY, 1999 AMONG PLATINUM
                       FOX, LLC, EMERALD CHIMERA, LLC. AND
                            IDAHO CONSOLIDATED METALS
                                   CORPORATION

                             SHAREHOLDER'S AGREEMENT
<PAGE>
                             SHAREHOLDER'S AGREEMENT

                                      Among

                                  {SHAREHOLDER}

                                       And

                      IDAHO CONSOLIDATED METALS CORPORATION

              Dated and effective this {DAY} day of {MONTH}, {YEAR}
<PAGE>
THIS SHAREHOLDER'S AGREEMENT is entered into as of this {DAY) day of {MONTH},
{YEAR), by and among {SHAREHOLDER} and {SHAREHOLDER}, both individually and as a
marital community, and IDAHO CONSOLIDATED METALS CORPORATION, a Province of
British Columbia, Canadian corporations

                                    RECITALS

WHEREAS, Shareholder is a Member of Emerald Chimera, LLC, which has entered into
that certain Tri-Party Lease Agreement With A Purchase Option dated July 16,
1999;

AND WHEREAS, EC has received certain Shares of ICMC from ICMC as consideration
for the Lease,

AND WHEREAS, the Lease contains certain restrictions of the transfer of Shares;

AND WHEREAS, EC, ICMC and Shareholder would like to transfer Shares to
Shareholder in accordance with the share transfer restrictions contained in the
Lease;

AND WHEREAS, in order to effect said share transfer Shareholder must enter into
a shareholders agreement with ICMC agreeing to the same share transfer
restrictions contained in the Leases

                                    AGREEMENT

THEREFORE in consideration of good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged by all parties, the foregoing, and
the mutual promises set forth herein, Shareholder and ICMC agree as follows:

                             Article 1- Definitions

1.1)     "1933 Act" shall mean the United States Securities Act of 1933.

1.2)     "Agreement" shall mean this Shareholder's Agreement.

1.3)     "EC" shall mean Emerald Chimera, LLC.

1.4)     "ICMC" shall mean Idaho Consolidated Metals Corporation.

1.5)     "Lease" shall mean that certain Tri-Party Lease Agreement With A
         Purchase Option dated July 16, 1999 among Platinum Fox, LLC, EC and
         ICMC.

1.6)     "Member" shall mean the holder of limited liability company units of a
         limited liability company formed pursuant to Title 25.15 of the Revised
         Code of Washington State.

1.7)     "Securities Act" shall mean any and all applicable securities laws and
         regulations of the Province of British Columbia, Canada.

1.8)     "Share" shall mean the common stock of ICMC held by Shareholder that is
         subject to this Agreement, as further defined in Article 2s3 of this
         Agreement.
<PAGE>
1.9)     "Shares" shall mean the common stock of ICMC held by Shareholder that
         is subject to this Agreement, as further defined in Article 2s3 of this
         Agreement.

1.10)    "Shareholder" shall mean {SHAREHOLDER).

1.11)    "VSE" shall mean the Vancouver Stock Exchange.

                         Article 2 - Transfer of Shares

2.1)     No transfer or attempted transfer of any Share or Shares subject to
         this Agreement shall be effective unless such transfer is:

                (a) made to ICMC, or;

                (b) made outside the United States in a transaction meeting the
         requirements of Regulation S under the 1933 Act, or;

                (c) made pursuant to the exemption from the registration
         requirements under the 1933 Act provided by Rule 144 there under and in
         accordance with any applicable state securities or "Blue Sky" laws; or;

                (d) made in a transaction that does not require registration
         under the 1933 Act or any applicable US state laws and regulations
         governing the offer and sale of securities and Shareholder has, prior
         to such sale, furnished to ICMC an opinion to that effect of counsel of
         recognized standing experienced in matters involving the 1933 Act and
         reasonably satisfactory to ICMC;

                (e) made to an organization exempt from United States federal
         income tax under 501(c)(3) of the United States Internal Revenue Code
         of 1986 as amended from time to time, to a family member of
         Shareholder, or to a trust for the benefit of a family member of
         Shareholder, through either a gift or inheritance and such organization
         or family member has executed a similar shareholder's agreement with
         ICMC agreeing to the restriction of transfer of Shares.

                (f) made to a shareholder, Member or beneficiaries of the
         Shareholder, who have executed a similar shareholders agreement with
         ICMC agreeing to the same restrictions of transfer of Shares contained
         in this Agreement.

2.2)     Any transfer or attempted transfer made in violation of this Agreement
         shall be void.

2.3)     The Shares of ICMC held by the Shareholder that are subject to this
         Agreement are only those shares of ICMC acquired by the Shareholder
         from EC, that EC received from ICMC under the Lease.
<PAGE>
                               Article 3 - Legend

3.1)       Upon the transfer of Share or Shares from EC to Shareholder, and
           until such time as the same is no longer required under applicable
           requirements of this Agreement, the 1933 Act or applicable US state
           laws and regulations, the certificates representing any of the Shares
           subject to this Agreement shall bear the following legend:

                         "The Securities represented hereby have not been
                         registered under the United States Securities Act of
                         1933, as amended (the "U.S. Securities Act") and may be
                         offered, sold or otherwise transferred only (a) to the
                         Company, or (b) outside the United States in accordance
                         with Regulation S under the U.S. Securities Act, or (c)
                         inside the United States in accordance with (1) Rule
                         144A under the U.S. Securities Act or (2) Rule 144
                         under the U.S. Securities Act, if applicable, or (3)
                         with the prior written consent of the Company, or (4)
                         under another exemption from registration under the
                         U.S. Securities Acts The transfer of the shares of
                         common stock represented by this Certificate is
                         restricted under the terms of a Shareholders' Agreement
                         dated (DATE), as it may be amended from time to times A
                         copy of the Shareholders' Agreement, with all
                         amendments thereto, is on file at the principal office
                         of the Company. Delivery of this certificate may not
                         constitute "good delivery" in settlement of
                         transactions on stock exchanges in Canada."

            Article 4 - Covenants And Representations of Shareholder

4.1)     Shareholder represents, warrants and covenants to and with ICMC while
         this Agreement is in effect that:

                  (a) ICMC has advised Shareholder that ICMC relied on an
                  exemption from the requirements to provide EC with a
                  prospectus and to sell securities through a persons registered
                  to sell securities under the Securities Act and, as a
                  consequence of EC acquiring securities pursuant to this
                  exemption Shareholder understands that, certain protections,
                  rights and remedies provided by the Securities Act, including
                  statutory rights of rescission will not be available to
                  Shareholder.

                  (b) it is not entering into this transaction as a result of
                  any material changes with respect to the affairs of ICMC known
                  to it (except for this transaction) which, to its knowledge,
                  information and belief, were not publicly disclosed as of the
                  date hereof;
<PAGE>
                  (c) it is acting as principal and will be acquiring the shares
                  as principal for its known account and not on behalf of others
                  and for the purpose of investment and not with an intention to
                  effecting a distribution, and no other person, firm or other
                  organization will have any beneficial interest whatsoever in
                  the shares;

                  (d) it is a resident of the State of Washington, United States
                  of America, for the purposes of all securities laws applicable
                  to the transactions herein contemplated;

                  (e) it has such knowledge and experience in financial and
                  business matters as to be capable of evaluating the merits and
                  risks with respect to the shares, and is able to bear the
                  economic risks with respect to the shares, including the
                  possibility that the shares may become worthless;

                  (f) there are restrictions on Shareholder's ability to
                  transfer the Shares and it is the responsibility of
                  Shareholder to understand those restrictions and to comply
                  with them before transferring the Shares.

                                Article 5 - Term

5.1)     This Agreement shall terminate upon the occurrence of any of the
         following events:

                  (a) The registration of the Shares subject to this Agreement
                  under the 1933 Act of any State "Blue Sky" Laws, as required
                  by Article 6.9 of this Agreement,

                  (b) The valid transfer of the Shares under the terms and
                  conditions of this Agreement.

                            Article 6 - Miscellaneous

6.1)     Binding Provisions. The terms and provisions of this Agreement shall be
         binding upon and shall inure to the benefit of the heirs, successors
         and assigns of the respective parties.

6.2)     Severability. In the event any sentence or paragraph of this Agreement
         is declared by a court of competent jurisdiction to be void, such
         sentence or paragraph shall be deemed severed from the remainder of the
         Agreement and the balance of the Agreement shall remain in effect.

6.3)     Headings. Section titles or captions contained in this Agreement are
         inserted only as a matter of convenience and for references Such titles
         and captions in no way define, limit, extend or describe the scope of
         this Agreement nor the intent of any provision of this Agreement.

6.4)     Meanings. Whenever required by the context, the singular shall include
         the plural, and viceversa and the masculine gender shall include the
         feminine and neuter genders, and viceversa.
<PAGE>
6.5)     Governing Law. All terms and provisions of this Agreement and the
         rights and duties of all of the parties shall be construed under the
         laws of the State of Washington, United States of America, except for
         any legal interpretation involving Canadian securities laws in relation
         to this Agreements Any legal interpretation involving Canadian
         securities laws shall be construed under the applicable laws of the
         Province of British Columbia, Canada. The venue for any action under
         this Agreement shall lie in Spokane County, State of Washington, United
         States of America.

6.6)     Amendments. This Agreement or any tern hereof may be changed, waived,
         discharged or terminated only in writing, signed by all parties hereto.

6.7)     Entire Agreement. This Agreement, together with its exhibits and such
         other agreements referred to in this Agreement, the terms of which are
         incorporated into this Agreement by this reference, supersedes any and
         all oral or written agreements previously made relating to the subject
         matter of this Agreement and constitutes the entire agreement of the
         parties relating to the subject matter of this Agreement.

6.8)     Notice. Any notice required or permitted to be given hereunder shall be
         deemed properly given upon delivering the same to the party to be
         notified, or upon mailing the notice, by registered or certified mail,
         return receipt requested, to the party to be notified, at the address
         hereinafter set forth, respectively, or such other address within the
         United States of America as the party to be notified may have
         designated prior thereto by written notice to the other.

            (a)      If to Shareholder:
                                     _____________________
                                     United States of America
                                     Phone:_______________
                                     Facsimile:____________

            (e)          If to ICMC:
                                     Idaho Consolidated Metals Corporation
                                     Mr. Delbert Steiner, President

                                     PO Box 1124
                                     Lewiston, ID 83501 United
                                     States of America Phone:
                                     208-743-0914 Facsimile:
                                     208-746-6678

6.9)     Securities Registration. If ICMC should register any class of equity
         securities in the United States of America under either the 1933 Act or
         under any state "Blue Sky" laws, ICMC shall also register those equity
         securities subject to this Agreement.

6.10)    Specific Enforcement.Because of the unique relationship of the parties,
         in addition to any other remedies which the parties may have upon
         breach of this Agreement, the obligations and rights contained in
         Articles 2, 3 and 5 of this Agreement shall be specifically enforced.
<PAGE>
6.11)    Dispute Resolution. In any action at law or in equity to enforce any of
         the provisions or rights under this Agreement, the unsuccessful party
         or parties of such litigation, as determined by the court in a final
         judgement or decree, shall pay to the unsuccessful party or parties all
         costs, expenses and reasonable attorneys' fees incurred by the
         successful parties, including without limitation, such costs, expenses
         and fees on any appeals. If the successful party or parties shall
         recover judgement in any action or proceeding, its costs, expenses and
         attorneys' fees shall be included in as part of such judgement.

6.12)    Regulatory Consent. This Agreement is specifically subject to the
         approval of the regulatory authorities of the Province of British
         Columbia and of the VSE.

EXECUTED as of the date first above written.

Shareholder:

-------------------------------

ICMC:

Idaho Consolidated Metals Corporation

-------------------------------
Its: President
<PAGE>
          SCHEDULE "E" TO THE LEASE AGREEMENT WITH OPTION TO PURCHASE
                DATED THE 16th DAY OF JULY, 1999 AMONG PLATINUM
                      FOX, LLC, EMERALD CHIMERA, LLC, AND
                           IDAHO CONSOLIDATED METALS
                                  CORPORATION

                           SCHEDULE OF ICMC LITIGATION
<PAGE>
                                  SCHEDULE "E"

Case # 30534   Grumprecht and White v. Joe Swisher, Del Steiner, ICMC, IMD and
               Silver Crystal

Case # 31666   Shareholders v. Silver Crystal
<PAGE>
           SCHEDULE "F" TO THE LEASE AGREEMENT WITH OPTION TO PURCHASE
                 DATED THE 16" DAY OF JULY, 1999 AMONG PLATINUM
                       FOX, LLC, EMERALD CHIMERA, LLC, AND
                            IDAHO CONSOLIDATED METALS
                                   CORPORATION
<PAGE>
                                   SCHEDULE FEXHIBIT 10.07
                             MINERAL LEASE AGREEMENT
                                     BETWEEN
                             IDAHO GOLD CORPORATION
                                      AND
                         IDAHO CONSOLIDATED METALS CORP.
                              (THE FRIDAY PROPERTY)

         THIS MINERAL LEASE AGREEMENT, dated this 9th day of July, 1996
("Effective Date"), is between IDAHO GOLD CORPORATION, a Nevada corporation,
(hereinafter referred to as "OWNER") and IDAHO CONSOLIDATED METALS CORP., a
Idaho corporation, (hereinafter referred to as "ICMC"). OWNER and ICMC are each
hereafter sometimes referred to individually as "Party" and collectively as
"Parties".
                                    RECITALS

         OWNER owns or controls certain patented mining claims located in Idaho
County, State of Idaho. The mining claims are more particularly described in
Exhibit A hereto (hereinafter called the "Property").

         OWNER is desirous of leasing the Property to ICMC for the purpose of
ICMC Exploring, Developing and mining the same.

         ICMC is desirous of leasing the Property for such purposes.

         In consideration of Sixty Thousand (60,000) shares of common stock of
ICMC (the ICMC "Stock") paid or to be paid by ICMC to OWNER, the receipt and
sufficiency of which are hereby acknowledged and in consideration of the mutual
covenants and agreements of the Parties herein contained, OWNER and ICMC agree
as follows:

                                    ARTICLE I

                                  DEFINITIONS

For purposes of this Agreement certain terms and provisions used herein are
defined as follows:

         1.01 "Affiliate" means, with respect to any Party, any person,
partnership, joint venture, corporation or other form of enterprise which
directly or indirectly Controls, is Controlled by, or is under common Control
with a Party.
                                      -1-
<PAGE>
         1.02 "Agreement" means this Mineral Lease Agreement, as it may be
amended, together with Exhibits A - Property and B - Royalty.

         1.03 "Anniversary Date" shall mean the day and month indicated in the
first paragraph of this Agreement occurring in each year subsequent to the
Effective Date of this Agreement, so long as this Agreement shall continue in
force and effect.

         1.04 "Commencement of Commercial Production" means the first day
following the first period of ninety (90) consecutive days during which Products
are produced from the Property at an average rate equal to at least fifty
percent (50%) of the design capacity of the production facilities established
for producing Products from the Property.

         1.05 "Control" means possession, directly or indirectly, of the power
to direct or cause direction of management and policies through ownership of
voting securities, contracts, voting trusts, or otherwise. Grammatical
variations of "Control" have a like meaning.

         1.06 "Development" means all preparation for the removal of Ore for the
commercial recovery of Products from such Ore, including surveying, development
drilling and geological, geochemical and engineering analysis thereof, sampling,
prestripping and stripping, the construction or installation of a mill or any
other improvements to be used for the mining, handling, milling, processing or
other beneficiation of Products. The active pursuit of obtaining any federal,
state or local authorization or permit related to any of the foregoing
activities included in this definition shall also be considered to be an act of
Development. Grammatical variations of "Development" have a like meaning.

         1.07 "Exploration" means all activities directed toward ascertaining
the existence, location, quantity or quality of a commercial deposit of Ore on,
in or under the Property, which activities are conducted prior to the
commencement of Development
                                      -2-
<PAGE>
of such deposit. Such activities include but are not limited to investigating,
prospecting, surveying, sampling and drilling. The (active pursuit of obtaining
any federal, state or local authorization or permit related to any of the
foregoing activities included in this definition shall also be considered to be
an act of Exploration. Grammatical variations of "Exploration" have a like
meaning.

         1.08 "ICMC Stock" means Sixty Thousand (60,000) shares of the common
shares of ICMC which are free and clear of any assessments but which are subject
to a one (1) year trading restriction, which restriction shall commence as of
the Effective Date of this Agreement. In addition, Thirty Thousand (30,000)
shares shall be issued to OWNER on execution of this Agreement and the remaining
Thirty Thousand (30,000) shares shall be issued to OWNER One (1) year from the
Effective Date.

         1.09 "IGC Data" means that information and data described in Section
2.03 in This Agreement.

         1.10 "Mining" means the extraction of ore and associated waste rock
from the Property. Grammatical variations of "Mining" have a like meaning.

         1.11 "Ore" means any and all metallic and non-metallic minerals of
every kind (excluding only oil, gas, casinghead gas and associated liquid and
gaseous hydrocarbon substances), including, without limitation, deposits,
concentrates and solutions containing such minerals in all forms in which such
minerals may be found, extracted or produced, as well as any by-products
thereof.

         1.12 "OWNER" includes any subsidiary, parent company, subsidiary of
parent company, division or Affiliate of OWNER (as the term "OWNER" is used
above).

         1.13 "Production Royalty" means the payments provided for in Section
4.02.

         1.14 "Products" means all commercial minerals produced from the ore
Mined from the Property.
                                      -3-
<PAGE>
         1.15 "Property" means all right, title and interest of OWNER, as such
right, title and interest are represented and warranted in this Agreement, in
and to the surface estate and the mineral estate (specifically including any and
all subsurface rights) of the lands described in Exhibit A, attached hereto and
by this reference made a part hereof.

                                   ARTICLE II

                               GRANT OF AGREEMENT

         2.01 Lease of the Property. Subject to the terms and conditions
contained in this Agreement, OWNER hereby leases exclusively unto ICMC, its
successors and assigns, the Property. The leasehold rights granted to ICMC by
OWNER include all of OWNER's rights and privileges (including but not limited to
easements, rights-of-way, licenses, options and contracts, plans of operation,
environmental permits and licenses, but not forms of security for closure and
reclamation), whether now owned or hereafter acquired, that are appurtenant to
the Property. The Property is leased to ICMC for the purpose of Exploring,
Developing, Mining, producing, processing, consuming, transporting and marketing
all grades and types of Ore and their constituent Products and all other
substances associated or commingled therewith, by any method or methods deemed
desirable by ICMC, whether the same is now or hereafter becomes known to ICMC.

         2.02 Mining Rights. The rights leased exclusively to ICMC pursuant to
this Article II expressly include, without limitation, the following:

                  (a) the right to Mine the Ore and remove waste rock by open
         pit, underground, auger, borehole, drilling, combustion, insitu
         solution methods, or any other method now known or hereafter developed;

                  (b) the right to store, save, and stockpile Ore and Products;

                                      -4-
<PAGE>
                  (c) the right to mill, concentrate, refine and otherwise
         [illegible text] Ore;

                  (d) the right to transport and market Ore and Products;

                  (e) the right to construct, use, maintain, repair, replace and
         relocate any and all facilities and structures on and [illegible text]
         as may be necessary, useful or convenient in connection with ICMC's
         operations on the Property and/or operations on other lands owned (in
         whole or in part), controlled, leased or operated by ICMC; such
         facilities and structures include, but are not limited to, buildings,
         roads, railroads, shafts, inclines, tunnels, adits, earth, waste dumps,
         ditches, drains, pumping stations, boreholes, alterations, Ore
         stockpiles, pipelines, telephone lines, utility lines, power lines,
         processing facilities, plants, shops and transportation facilities and
         other utilities, and the maintenance thereof;

                  (f) all rights-of-way, easements and servitudes as may be
         necessary, useful or convenient for the purposes set forth in (a)
         through (e) above, and the right of ingress and egress therefore;

                  (g) the right to use or consume so much of the surface and
         subsurface of the Property as may be found necessary, useful,
         convenient or incidental to carrying out the purposes of this
         Agreement, in accordance with the methods adopted by ICMC, such right
         to be carried out in ICMC's sole discretion without any requirement to
         leave or provide subjacent or lateral support for the overlying strata
         or surface or anything thereon, therein or thereunder; OWNER hereby
         waives and releases all surface damages arising from all operations in
         and the removal of Ore and waste rock from the Property by ICMC, its
         successors or assigns, or arising from any and all physical conditions
         now present or which may hereafter develop in or upon the Property;

                                      -5-
<PAGE>

                  (h) the right to possess and use all or any part of the
         Property and any or all structures, facilities, tunnels, adits, winzes,
         shafts, pits, openings, ditches, roads, haulageways and other
         improvements or appurtenances existing thereon or thereunder to
         Explore, Develop, mine, produce, stockpile, store, market and transport
         Ore, Products, rock, waste, water or materials from all or any portion
         of the Property and/or from other properties, whether contiguous or
         not, owned (in whole or in part), controlled, leased or operated by
         ICMC, and for all other purposes, including, but not limited to, all
         rights-of-way, easements and servitudes as may be necessary, useful or
         convenient therefor and rights of ingress to and egress from such other
         properties which ICMC, in its sole discretion, determines to be
         necessary, useful or convenient for Exploration, Development, Mining or
         production operations on such other properties;

                  (i) the right to use the surface of the Property, during the
         term of this Agreement, for access across, and facilities related to
         any lands in which ICMC has an interest and which lands are being
         explored, developed or mined by ICMC or by an agent, partner or joint
         venturer of ICMC, as well as to use the surface of the Property for any
         other purposes related to such exploration, development or mining
         activities being conducted on such other lands;

                  (j) the right to use and consume, in compliance with
         applicable laws, all water rights relating to water within, upon or
         under the Property and all water rights, the point of diversion or
         place of use of which is on the Property; and

                  (k) the right to commingle (for all purposes including, but
         not limited to, Mining, storing, transporting, marketing, or selling)
         any Ore or Products produced from the Property or any portion thereof
         with any material or ore produced from any other lands which are owned
         (in whole or in part), controlled, operated, or leased by ICMC.

                                      -6-
<PAGE>
         2.03 OWNER's Information and Data. Upon execution of this Agreement,
OWNER shall deliver to ICMC all records, data and information in its possession
or reasonably available to it relating to title in the Property, and all maps,
surveys, technical reports, core and drill cuttings, drill logs, and all
metallurgical, geological, geophysical, geochemical and other technical data
pertaining to the Property in its possession or reasonably available to it (the
"IGC Data"). OWNER MAKES NO REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, AS
TO THE COMPLETENESS OR ACCURACY OF ANY INFORMATION OR DATA MADE AVAILABLE TO
ICMC HEREUNDER OR TO THE FITNESS OR SUITABILITY OF SUCH INFORMATION OR DATA FOR
ANY PURPOSE.

         2.04 Title to After-Acauired and Additional Interests. This Agreement
will cover and extend to any further or additional right, title, interest or
estate heretofore or hereafter acquired by OWNER in or to the Property or any
part thereof.

         2.05 OWNER's Cooperation with ICMC. OWNER recognizes that ICMC may,
among other things, apply for zoning and land use changes, enlarge existing
roads, construct new roads, or facilities, file environmental assessment or
impact statements or similar documents with local, state and federal
governmental agencies and perform all other actions necessary to carry out
ICMC's Exploration, Development or Mining operations on the Property. OWNER
agrees that it will cooperate fully with ICMC and it will not file opposition or
objections with any governmental entity regarding ICMC's Exploration,
Development or Mining of the Property pursuant to this Agreement. Nothing in
this Section 2.05 limits rights otherwise granted to ICMC under this Agreement.

                                  ARTICLE III

                          TERM: NO IMPLIED OBLIGATIONS

         3.01 Term. The primary term of this Agreement shall be Five (5) years,
beginning on the Effective Date, unless sooner terminated or surrendered as
hereinafter provided. This Agreement
                                      -7-
<PAGE>
shall remain in effect after the expiration of the primary term for so long
thereafter as substantial Exploration, Development or Mining operations shall be
conducted on the Property.

         3.02 Waiver of Implied Obllgations. ICMC shall have no obligation to
begin or perform prospecting, Exploration, Development, mining, processing,
transporting or other operations on the Property, nor to mine and remove all or
any portion of the ore thereon, therein or thereunder, nor is there any implied
covenant to do so. OWNER expressly acknowledges and agrees that no Mining of ore
may occur which would entitle OWNER to receive payment of Production Royalty and
OWNER further acknowledges and agrees that ICMC, subject to ICMC's standard of
operations set forth in Section 5.01, may waste or consume portions of any ore
and ICMC shall not be required to pay any Production Royalty on any such ore
which may be so wasted or consumed. OWNER expressly acknowledges and agrees that
the consideration for the grant of this Agreement may therefore constitute the
sole consideration for all rights of ICMC hereunder and that the same
constitutes full, reasonable, fair and adequate consideration for the rights
granted to ICMC by OWNER for the entire term of this Agreement. If ICMC shall
conduct Exploration, Development, Mining, processing, transporting, and other
operations or activities hereunder, such operations and activities shall be
performed only to the extent, at such times and locations, and by or with such
methods as ICMC, in ICMC's sole discretion, shall deem desirable. ICMC shall not
be required to mine or protect in its mining operations any Ore which cannot be
Mined, processed, shipped, and marketed at a reasonable profit to ICMC at the
time encountered as determined in the reasonable judgment of ICMC.

                                   ARTICLE IV

                              PRODUCTION ROYALTIES

         4.01 Production Royalty. Beginning with the Commencement of Commercial
Production and continuing thereafter, ICMC shall pay to

                                      -8-
<PAGE>
OWNER a royalty as provided in Exhibit B, attached hereto and incorporated
herein. No Production Royalty shall be due with regard to samples of ore which
ICMC deems necessary to test or evaluate the technical or economic feasibility
of extraction, milling or processing methods which may be used to enjoy the
benefits and rights granted hereunder. ICMC shall have the right to remove such
samples free of any Production Royalty whatsoever.

         4.02 Manner of Payment. All payments of Production Royalty due or
payable to OWNER under this Article IV may be made by check or draft mailed or
delivered on or before the due date to OWNER in the name of the person
designated and at the address provided in Section 15.06 below.

                                   ARTICLE V

                                ICMC'S OPERATIONS

         5.01 Standard of Care. ICMC shall perform or cause to be performed its
Exploration, Development and mining and other operations upon the Property and
under this Agreement in a good and workmanlike manner and in accordance with
sound mining and engineering practices.

         5.02 Compliance with Law. All work performed or caused to be performed
by ICMC upon the Property shall be in compliance with all applicable federal,
state and local laws, rules and regulations. With regard to closure and
reclamation, ICMC shall reclaim, in accordance with state and federal laws and
regulations, any disturbance on the Property. It is specifically agreed that
ICMC assumes the responsibility to reclaim or otherwise cure all disturbances of
the Property whether made before and after the Effective Date of this Agreement.

         It is agreed that prior to any Exploration, Development or mining, ICMC
(in cooperation with OWNER) shall obtain release of all licenses, permits and
lands related to the Property that are in the name of OWNER.

                                      -9-
<PAGE>
         5.03 Books. ICMC shall keep accurate books and records on the accrual
basis in accordance with generally accepted accounting principles. OWNER's sole
inspection and audit rights as to ICMC's books and records are as set forth in
Exhibit B.

         5.04 Reports. ICMC shall furnish to OWNER, within sixty (60) days
following the effective date of termination of this Agreement, copies of all
factual, non-interpretative geologic data produced by ICMC with respect to the
Property. ICMC MAKES NO REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, AS TO
THE COMPLETENESS OR ACCURACY OF ANY INFORMATION OR DATA MADE AVAILABLE TO OWNER
HEREUNDER OR TO THE FITNESS OR SUITABILITY OF SUCH INFORMATION OR DATA FOR ANY
PURPOSE.

         5.05 Inspections. ICMC shall allow OWNER, as well as qualified
engineers and geologists representing OWNER, to enter into any adits, winzes and
shafts or upon the surface excavations and appurtenant structures operated by or
on behalf of ICMC, at reasonable times and hours, for the purpose of visually
inspecting the operations pertaining to this Agreement, upon at least five (5)
days' written notice; provided, however, OWNER shall indemnify and hold ICMC
harmless, and such representatives shall execute, if requested by ICMC, written
waivers releasing ICMC from liability for personal injury or property damage
while in or upon the Property, resulting otherwise than by the sole negligence
of ICMC, its employees, contractors and agents. Whether or not a written waiver
is executed by OWNER or its representatives, OWNER indemnifies and holds ICMC
harmless from liability while OWNER and/or such representatives are in or upon
the Property.

         5.06 Minimum Exploration and Maintenance Expenditures. As a condition
only to the continuation of this Agreement, and subject to ICMC's right to
terminate this Agreement as set forth in Article X, ICMC hereby agrees to
commence 'an Exploration program with respect to the Property and to incur the
following minimum amounts of Exploration and Maintenance Expenditures (as
defined below) on the Property on or before the dates set opposite such amounts:

                                      -10-
<PAGE>
          Minimum
Exploration and Maintenance                   To Be Incurred
       Expenditures                           Upon or Before
---------------------------        -------------------------------------------
        $15,000                    The first Anniversary Date of the Effective
                                     Date of this Agreement;

        $30,000                    The second Anniversary Date of the Effective
                                     Date of this Agreement;

        $65,000                    The third Anniversary Date of the Effective
                                     Date of this Agreement;

        100,000                    The fourth Anniversary Date of the Effective
                                     Date of this Agreement;

        $135,000                   The fifth Anniversary Date of the Effective
                                     Date of this Agreement;

         It is understood and agreed by the Parties that the above Exploration
and Maintenance Expenditures are cumulative. For example, a total of $100,000 in
Exploration and Maintenance Expenditures must be spent on the Property by the
fourth Anniversary Date.

         If Exploration and Maintenance Expenditures in any year exceed the
minimum amount required for such year as set forth in the above schedule, ICMC
shall be entitled to credit the excess amount against Exploration and
Maintenance Expenditures required for any subsequent Agreement Year or Years. It
is further agreed that ICMC has not expended any Exploration or Maintenance
Expenditures as of the Effective Date of this Agreement.

         As used herein "Exploration and Maintenance Expenditures" means: (i)
Exploration Expenditures and Maintenance Expenditures as each is defined below,
plus eight percent (8%) of such amounts as an allowance for administrative
services, except with respect to administration of single-third party contracts
where the overhead charge shall be five percent (5%), and (ii) all amounts
deemed to constitute Exploration Expenditures and Maintenance Expenditures under
this Exploration Agreement.
                                      -11-
<PAGE>
         (a) "Exploration Expenditures" means all costs or other expenditures
incurred by or on behalf of ICMC in connection with the evaluation, Exploration
and Development of the Property, which expenditures may include, in ICMC's sole
discretion and without limitation, the cost of or expenditures for geological
mapping, geophysical surveying, geochemical assaying, drilling, sampling and
other work on the Property.

         (b) "Maintenance Expenditures" means all costs or expenditures incurred
by or on behalf of ICMC to preserve in good standing the status and title that
the Property has on the Effective Date and to cure any defects in the title of
the Property, specifically including administration and judicial proceedings.

                           ARTICLE VI OWNERSHIP;TITLE

         6.01 Ownership; Title. OWNER hereby represents and warrants as follows:

         (a) OWNER is incorporated under the business corporations act of the
state of Nevada and represents that it exists and is in good standing in that
state as those terms might be construed under the state's business corporations
act; further, OWNER represents that it is qualified to conduct business in the
state in which the Property is located and is in good standing as that term
might be construed under the business corporations act of that state;

         (b) this Agreement has been duly authorized by all necessary corporate
action on the part of OWNER and has been duly executed and delivered by OWNER;

         (c) the Property is not the whole or substantially the whole of the
business, property, assets or undertaking of OWNER;

                                      -12-
<PAGE>
         (d) there are no royalties, fees or monies payable or required to be
paid to any person or entity with regard to the Property and there are no
outstanding agreements, options or purchase rights to acquire any part of or all
the Property;

         (e) OWNER has not engaged or employed any broker or finder in
connection with the negotiation, execution or delivery of this Agreement or the
Property; and

         (f) OWNER has not made any assignment for the benefit of creditors,
filed any petition in bankruptcy, been adjudicated insolvent or bankrupt,
petitioned or applied to any tribunal for any receiver, conservator or trustee
of it under any reorganization arrangement, readjustment of debt, conservation,
dissolution or liquidation law or statue of any jurisdiction, and no such action
or proceeding has been commenced against OWNER by any creditor, claimant,
governmental agency or other person and OWNER has no present plans or intentions
to undertake any of the foregoing; and

         6.02 Survival. The representations and warranties contained in Section
6.01 shall survive the execution and delivery of this Agreement.

                                   ARTICLE VII

                     REPRESENTATIONS AND WARRANTIES OF ICMC

         7.01 Representations and Warranties. ICMC represents and warrants to
OWNER as follows:

         (a) ICMC is incorporated under the business corporations act of the
Province of British Columbia, Canada, and represents that it exists and is in
good standing in that Province as those terms might be construed under its
business corporations act; further, ICMC represents that it is qualified to do
business in the state in which the Property is located and is in good standing
as that term might be construed under the business corporations act of that
state;
                                      -13-
<PAGE>
         (b) this Agreement has been duly authorized by all necessary corporate
action on the part of ICMC and has been duly executed and delivered by ICMC;

         (c) ICMC has not engaged or employed any broker or finder in connection
with the negotiation, execution or delivery of this Agreement or the Property;

         (d) ICMC has not made any assignment for the benefit of creditors,
filed any petition in bankruptcy, been adjudicated insolvent or bankrupt,
petitioned or applied to any tribunal for any receiver, conservator or trustee
of it under any reorganization arrangement, readjustment of debt, conservation,
dissolution or liquidation law or statue of any jurisdiction, and no such action
or proceeding has been commenced against ICMC by any creditor, claimant,
governmental agency or other person and ICMC has no present plans or intentions
to undertake any of the foregoing; and

         7.02 Survival. The representations and warranties contained in Section
7.01 shall survive the execution and delivery of this Agreement.

                                  ARTICLE VIII

                                      TAXES

         8.01 Taxes Paid by ICMC. ICMC agrees to pay the following:

         (a) all taxes levied and assessed on improvements on the Property
during the term of this Agreement; and

         (b) all tax levied upon the interest of OWNER in the Property during
the term of this Agreement.

         ICMC's obligation to pay the aforesaid taxes shall commence with taxes
payable for the year of execution of this Agreement. ICMC agrees to make payment
thereof, as required by federal, state and local statutes, rules and
regulations, so that no default in taxes upon the interest of OWNER shall occur;
provided, however, that ICMC shall have the right to contest by judicial
proceeding or otherwise the validity of any assessment or levy of any of the
aforesaid taxes and to take such action as ICMC deems necessary or

                                      -14-
<PAGE>
desirable to secure cancellation, reduction, adjustment or equalization thereof
before ICMC shall be required to pay and discharge the same. OWNER shall
cooperate and assist ICMC as necessary in any judicial or other proceeding
contesting the validity of any assessment or levy of any of the aforesaid taxes.

         ICMC shall require that taxes be assessed to OWNER in care of ICMC in
order to assure that the taxes are timely paid. It is agreed that should OWNER
receive tax bills or claims that are the responsibility of ICMC hereunder, the
same shall be promptly forwarded to ICMC for appropriate action and if not so
forwarded, ICMC shall not be responsible for any delinquent payment charges or
interest charges resulting from the late payment of such taxes.

         ICMC shall not be obligated to pay any tax imposed upon any payment it
makes to OWNER under this Agreement, nor shall ICMC be compelled to discharge
any liens upon the Property not arising by reasons of its activities under this
Agreement.

                                   ARTICLE IX

                             LIABILITY AND INSURANCE

         9.01 Liens. ICMC shall promptly pay all wages due its workmen and
employees and pay for all materials and supplies furnished for its operations
hereunder and shall defend and protect OWNER from and against all claims, liens
and liabilities which may arise as a result of ICMC's failure so to do. In the
event that any mechanic's, materialmen's or laborer's liens may arise and are
filed against the Property as a result of ICMC's operations hereunder, ICMC
shall take all steps to obtain the discharge thereof.

         9.02 Insurance. ICMC shall maintain at all times during the term of
this Agreement insurance of the type and in an amount adequate to satisfy
employer's liability and workers' compensation obligations under applicable
federal and state laws; provided, however, that ICMC may self-insure against
such liability to the extent so permitted by applicable law.

                                      -15-
<PAGE>
         9.03 Liability. ICMC will, at its sole expense, save, protect and hold
OWNER harmless against any and all claims, demands or judgments whatsoever for
loss or damage to personal property and death or injury to persons arising out
of ICMC's activities or operations on the Property with regard to the ICMC
Stock, except those claims of OWNER, its assigns, contractors, employees,
successors or agents which are barred by the provision of Section 5.05. ICMC's
responsibilities under this Section 9.03 shall terminate upon termination of
this Agreement, except for causes of action accruing before the date of
termination.

                              ARTICLE X TERMINATION

         10.01 Termination by ICMC. ICMC may terminate this Agreement as to all
or any portion of the Property at any time upon giving ten (10) days' written
notice to OWNER and thereafter ICMC shall have no liability (specifically
including Exploration and Maintenance Expenditure) to OWNER under or in relation
to this Agreement except as provided in Section 10.04. Any partial of this
Agreement by ICMC shall not reduce the and maintenance Expenditures provided for
in this termination Exploration Agreement.

         10.02 Default

         (a) Defaults as to Tax Payments. If ICMC fails to pay taxes required to
be paid by ICMC pursuant to Article VIII, OWNER may give written notice thereof
to ICMC specifying the particulars of such failure. within thirty (30) days
after delivery of the notice, ICMC may:

                  (i) remedy the failure, or in the case of a failure which
         cannot be remedied within the thirty (30) day period, commence and
         diligently proceed in good faith with action to remedy the failure; or

                                      -16-
<PAGE>
                  (ii) pay to OWNER the amount of taxes required to be paid by
         ICMC pursuant to Article VIII that are the subject of OWNER's written
         notice,

         failing either of the above, OWNER may terminate this Agreement by
further written notice to ICMC and ICMC shall have no liability to OWNER under
or in relation to this Agreement except as provided in Section 10.06.

         (b) Other Defaults - In the event OWNER believes ICMC to be in default
in the observance or performance of any of ICMC's covenants, agreements or
obligations under this Agreement, other than defaults relating to the payment of
taxes required to be paid by ICMC pursuant to Article VIII, which defaults are
to be handled in accordance with Section 10.02(a) above, OWNER may give written
notice of such alleged default, specifying the details of the same. ICMC shall
have thirty (30) days following said notice within which to remedy any such
default described therein, or to commence action in good faith to remedy such
default or, in the case of Exploration and maintenance Expenditures, pay to
OWNER the amount of Exploration and Maintenance Expenditures required to be
incurred under Article V that are the subject of OWNER's written notice. Any
such payment shall be deemed to be Exploration and Maintenance Expenditures
under Article V.

         Unless ICMC shall so comply or commence to comply, this Agreement may
be terminated at the option of OWNER; provided, however, that in the event ICMC
believes that it is not in default, ICMC may give written notice to OWNER within
the thirty (30) day period setting forth such fact. OWNER must then secure a
final judicial determination (including all appeals concerning the same) by a
court of competent jurisdiction that such default in fact exists; provided,
however, that OWNER expressly agrees that ICMC shall not be liable for any
incidental, consequential or punitive damages claimed by OWNER and no judgment
shall award to OWNER indirect, consequential or punitive damages. In the event
there is such a judicial determination, this Agreement shall not be

                                      -17-
<PAGE>
terminable by OWNER if ICMC shall (i) satisfy such judgment within thirty (30)
days following its entry (or if an appeal of such judgment is taken, following
its affirmance by the highest court to which such an appeal is made) and (ii)
reimburse OWNER for all of its reasonable costs and expenses in obtaining such
judgment, including attorney's fees; and provided, further, that OWNER shall not
be entitled to terminate this Agreement for any default which by its nature is
not retroactively curable if ICMC has used its reasonable efforts to cure such a
default to the extent practicable or if ICMC has paid OWNER damages for ICMC's
default where damages are an appropriate remedy.

         (c) Disputes Not to Interrupt Operations. Subject to OWNER's right to
terminate this Agreement as set forth in this Section 10.02, disputes or
differences between the parties shall not interrupt performance of or the
continuation of operations under this Agreement. with regard to Production
Royalties or any other sums payable hereunder or any part thereof, ICMC shall
have the right to escrow the portion of any such payment that is in dispute as
provided in Section 10.02(d) below. In the event of any dispute or difference,
operations may be continued in the same manner as prior to such dispute or
difference, until the matters in dispute have been finally determined between
the parties. Upon final determination, such payments or restitutions shall be
made as may be required under the terms of the settlement or final determination
of the dispute.

         (c) Escrow Deposit. In the event dispute or litigation as to Production
Royalties or any other sums payable hereunder or any part thereof, any such
Production Royalties or other payments may be deposited in escrow with a
depository bank selected by ICMC to be held until such dispute or litigation is
finally resolved or terminated. Any sums so deposited in escrow by ICMC
hereunder shall be deemed payment of Production Royalties or other sums due
hereunder for purposes of compliance by ICMC with its obligations under this
Agreement.
                                      -18-
<PAGE>
         10.03 Termination by Either Party. This Agreement may not be terminated
by either party except as expressly provided in sections 10.01 or 10.02.

         10.04 Obligations upon Termination.

                  (a) Upon Termination of the Agreement. If this Agreement is
         terminated under Sections 10.01 or 10.02:

                           (i) ICMC shall comply with the provisions of Section
                  5.02 regarding closure and reclamation of the Property;

                           (ii) ICMC shall, as set forth in Section 9.01, remain
                  liable to OWNER for wages to workmen and ICMC's employees and
                  payments for materials and supplies provided to ICMC for its
                  operations on the Property;

                           (iv) ICMC shall, as set forth in Section 9.03, remain
                  liable to OWNER for causes of action accruing prior to
                  termination of this Agreement;

                           (v) ICMC shall remain liable to OWNER for the payment
                  of the ICMC Stock and for the payment of any Production
                  Royalties which accrue and are payable prior to termination of
                  this Agreement;

                           (vi) The duty to arbitrate as set forth in Section
                  11.09 shall survive termination of this Agreement;

                           (vii) ICMC shall deliver promptly to OWNER executed
                  recordable transfer documents transferring its interest in and
                  to the Property to OWNER free and clear of any claims of those
                  claiming by, through or under ICMC; and

                           (viii) ICMC shall have the right for a period of one
                  (1) year to remove its buildings, structures, machinery,
                  casings, tools, equipment and other personal property,
                  permanent improvements and fixtures erected or placed upon the
                  Property by ICMC after the date hereof, except only track,
                  pipe, timber, shaft guides, sheave wheels, air gates,
                  ventilation ducts, chutes and ladders in place and protective
                  devices (fences, caps, plugs or otherwise), which ICMC shall
                  leave in good condition for safety and underground support and
                  entry. All such buildings, structures,

                                      -19-
<PAGE>
                  machinery, casings, tools, equipment or other personal
                  property, permanent improvements and fixtures not removed
                  (unless such items are needed to fulfill ICMC's closure and
                  reclamation obligations) prior to the expiration of such one
                  (1) year following the termination of this Agreement shall
                  then, at the election of OWNER, be deemed affixed to the
                  Property and shall become and remain the sole property of
                  OWNER.

                  (b) Upon Termination of Part of the Property. If part of the
         Property is being released from the terms of this Agreement under
         Section 10.01:

                           (i) ICMC shall comply with the provisions of Section
                  5.02 regarding closure and reclamation of the part of the
                  Property that is being released from the terms of this
                  Agreement;

                           (ii) ICMC shall remain liable to OWNER for the
                  payment of the ICMC Stock and for the payment of any
                  Production Royalties which accrue and are payable as to
                  production from that part of the Property that is being
                  released from the terms of this Agreement;

                           (iv) ICMC shall promptly deliver to OWNER executed,
                  recordable transfer documents transferring to OWNER that part
                  of the Property that is being released from the terms of this
                  Agreement, free and clear of any claims of those claiming by,
                  through or under ICMC; and

                           (v) ICMC shall have the right for a period of one (1)
                  year to remove its buildings, structures, machinery, casings,
                  tools, equipment and other personal property, permanent
                  improvements and fixtures erected or placed by ICMC after the
                  date hereof upon the part of the Property that is being
                  released from the terms of this Agreement except only track,
                  pipe, timber, shaft guides, sheave wheels, air gates,
                  ventilation ducts, chutes and ladders in place and protective
                  devices (fences, caps, plugs or otherwise), which ICMC shall
                  leave in good condition for safety and underground support and
                  entry. All such buildings, structures, machinery, casings,
                  tools, equipment or other personal property,

                                      -20-
<PAGE>
                  permanent improvements and fixtures not removed (unless such
                  items are needed to fulfill ICMS's closure and reclamation
                  obligations) prior to the expiration of such one (1) year
                  shall then, at the election of OWNER, be deemed affixed to the
                  Property and shall become the sole property of OWNER.

                  (c) Limitation of Liability. OWNER expressly agrees that ICMC
         shall not be liable for any incidental, consequential or punitive
         damages claimed by OWNER.

                  (d) Cross Indemnities. Upon termination of this Agreement,
         ICMC and OWNER shall continue to have the indemnity responsibilities
         set forth in Section 15.04.

                                   ARTICLE XI

                              TRANSFER RIGHTS AND RESTRICTIONS

         11.01 Transfers by OWNER. OWNER shall not sell, transfer, convey,
assign, pledge, mortgage, charge or otherwise dispose of (specifically including
but not limited to a non-arm's length transaction or gift) or encumber all or
any part of its right, title and interest in and to the Property as represented
in this Agreement or in and to this Agreement (collectively the "Interest")
except as permitted by this Article XI.

         11.02 ICMC's Rights as to OWNER Transfers. If OWNER: (a) receives a
bona fide offer from a person or entity with whom OWNER deals at arm's length to
purchase all or any part of its Interest, which OWNER is willing to accept, or
(b) intends to make an offer to a person or entity with whom OWNER deals at arms
length to sell all or any part of its Interest (both instances of which are
hereinafter referred to as the "Offer"), then OWNER shall promptly deliver,
after receipt of an offer to purchase or before making an offer to sell, as the
case may be, to ICMC written notice (the "Offer Notice") of the offer to
purchase or intended offer to sell, as the case may be, accompanied by a copy of
the offer and all information in the possession of OWNER regarding the person or
entity (the "Offeror") from whom the Offer, if an offer to

                                      -21-
<PAGE>
purchase, was received, or to whom the offer, if an intended offer to sell, is
intended to be given. If the Offer is for a price payable wholly in money, the
Offer Notice will constitute an offer by OWNER to ICMC to sell OWNER's Interest
or part thereof included in the Offer, as the case may be (the "Offered
Interest") to ICMC at the same price and on the same terms and conditions as are
specified in the Offer and ICMC may accept the offer constituted by the offer
Notice by giving to OWNER written notice (the "Acceptance Notice") of ICMC's
acceptance within sixty (60) days after the delivery of the offer Notice.

                  If the Offer is for a price payable in whole or in part
by way of securities or other property, the Offer Notice shall be accompanied by
an opinion of a reputable investment banker in the United States of America of
the cash equivalent value of the securities or other property and the Offer
Notice will constitute an offer by OWNER to sell to ICMC the Offered Interest at
a price payable in cash equal to the cash portion, if any, of the price
specified in the Offer plus the value of the securities or other property and
otherwise on the same terms and conditions as set out in the offer. ICMC may, if
it agrees with the opinion of the investment banker, accept the offer
constituted by the Offer Notice by an Acceptance Notice to OWNER within sixty
(60) days after, the delivery of the Offer Notice and the value of the
securities or other property shall be the value determined by the opinion of the
investment banker. If ICMC disputes the value of the securities or other
property as determined by the opinion of the investment banker, ICMC may give to
OWNER written notice (the "Dispute Notice") within thirty (30) days after
delivery of the Offer Notice stating that it disputes the opinion of the
investment banker, in which case the value of the securities or other property
shall be determined by written agreement between ICMC and OWNER or, failing
agreement within ten (10) days after the delivery of the Dispute Notice, by
arbitration pursuant to Section 11.09, and ICMC may accept the offer constituted
by the Offer Notice by an Acceptance Notice to OWNER within thirty (30) days
after the determination of the value of the securities or other property by
agreement or arbitration, as the case may be.

                                      -22-
<PAGE>
         The delivery by ICMC to OWNER of an Acceptance Notice will constitute a
binding agreement between ICMC and OWNER for the purchase and sale of the
Offered Interest at the price and on the terms and conditions specified in the
Offer, as modified by agreement or arbitration with respect to the value of the
securities or other property and the provisions of Section 11.10. If there is
any conflict or inconsistency between the terms and conditions set out in the
Offer and those set out in Section 11.10, the terms and conditions of Section
11.10 will prevail.

         11.03 ICMC's Failure to Accept Offer. If an Acceptance Notice is not
given by ICMC within the time provided for in Section 11.02, OWNER may for a
period of one hundred and eighty (180) days thereafter transfer the offered
Interest to the Offeror at the price and on the terms and conditions set out in
the Offer, provided that:

                  (a) OWNER shall not transfer all or any part of the Offered
         Interest to any person or entity unless ICMC has given its prior
         written approval to the transfer to that person or entity, such
         approval not to be withheld or delayed unreasonably;

                  (b) OWNER shall not sell the offered Interest at a price less
         than that specified in the offer or on terms and conditions more
         favorable to a purchaser than those specified in the Offer;

                  (c) OWNER shall not sell the Offered Interest to the Offeror
         unless at the time of the sale the Offeror enters into an agreement
         with ICMC under which the Offeror shall be bound by and have the
         benefit of this Agreement to the same extent and with the same rights
         and obligations as OWNER; and

                  (d) if OWNER has not transferred the Offered Interest within
         the one hundred and eighty day period, then the provisions of Section
         11.02 shall again become applicable to any sale or transfer of the
         Offered Interest.

         11.04 Transfers to Affiliates. OWNER may transfer to any of its
Affiliates (as defined in Article I) all or any part of its

                                      -23-
<PAGE>
Interest, without complying with Sections 11.02 and 11.03, provided that OWNER
and the Affiliate to which all or a portion of the Interest is transferred have
entered into an agreement with ICMC which provides that:

                  (a) the Affiliate will remain an Affiliate of OWNER for so
         long as the Affiliate holds all or any part of the Interest of OWNER;

                  (b) prior to the Affiliate ceasing to be an Affiliate of
         OWNER, the Affiliate will transfer the Interest back to OWNER or
         another Affiliate of OWNER, provided that where the transfer is to
         another Affiliate, the other Affiliate first enters into an agreement
         with ICMC similar to the agreement entered into by the first Affiliate;
         and

                  (c) the Affiliate will be bound by and have the benefit of
         this Agreement as if it had been an original signatory to this
         Agreement for so long as it holds all or any part of the Interest.

         11.05 No Release of Liability. If OWNER transfers its Interest to any
Affiliate or other person or entity as permitted under this Article XI, OWNER
shall not be released from its liability hereunder for or with respect to any
breach or nonobservance of any covenant, condition or term hereof by any direct
or indirect transferee except if and to the extent expressly agreed to in
writing by ICMC.

         11.06 Representations of Offeror or Affiliate. Any Offeror or Affiliate
of OWNER that becomes a party to and bound by this Agreement shall be deemed to
have given to ICMC the representations and warranties, as to itself, set out in
Section 6.01 (a) (except that the business corporations act shall be as to
Offeror's or Affiliate's applicable state of incorporation), (b), (c) and (e)
through (k) as of the date on which it becomes a party to and bound by this
Agreement.

         11..07 Joint and Several Liability. If an Interest is at any time held
by OWNER and any one or more direct or indirect transferees of OWNER, OWNER and
all parties holding a portion of their respective Interest shall be jointly and
severally liable with respect to all obligations hereunder of OWNER.

                                      -24-
<PAGE>
         11.08 Triggering Events - Option to Purchase. If any of the following
events ("Triggering Events") occur:

                  (a) an Affiliate of OWNER to whom all or any part of its
         Interest has been transferred ceases to be an Affiliate of OWNER
         without transferring the Interest or the part thereof held by the
         Affiliate back to OWNER or another Affiliate of OWNER;

                  (b) an amalgamation, merger, arrangement or similar proceeding
         to which OWNER is a party is commenced;

                  (c) the bankruptcy or receivership of OWNER occurs or a
         resolution is passed for the winding-up or dissolution of OWNER;

                  (d) a change of Control (as such term is defined in Article I)
         of OWNER occurs or any person or entity acting in concert who does not
         Control OWNER at the date of this Agreement acquires Control of OWNER;
         or

                  (e) a sale of substantially all of the assets of OWNER occurs,
         then OWNER shall promptly give written notice to ICMC of the occurrence
         of that Triggering Event. OWNER hereby grants to ICMC the irrevocable
         and exclusive option to purchase OWNER's Interest at a price equal to
         the fair market value of the Interest. The option shall be exercisable
         by written notice (the "Option Notice") from ICMC to OWNER given at any
         time after the occurrence of a Triggering Event and before the
         expiration of sixty (60) days after the Option Notice has been given to
         ICMC by OWNER. Upon exercise of the option, OWNER shall be bound to
         sell to ICMC and, except as hereinafter provided, ICMC shall be bound
         to purchase from OWNER the Interest at a price equal to the fair market
         value of the Interest on the date of the Triggering Event. The purchase
         and sale of the Interest shall be completed in accordance with Section
         11.10. The fair market value of the Interest shall be determined by
         written agreement between OWNER and ICMC within ten (10) days after
         delivery of the Option Notice or, failing agreement within that time,
         by arbitration pursuant to Section 11.09. Notwithstanding the
         foregoing, if the fair market value of the

                                      -25-
<PAGE>
         Interest is determined by arbitration, ICMC may withdraw the Option
         Notice by further notice to OWNER within six (6) days after the
         determination by arbitration, failing which there shall remain a
         binding agreement between ICMC and OWNER for the purchase and sale of
         the Interest on the terms and conditions set out in this Section 11.08.

         11.09 Arbitration. The matters to be determined by arbitration pursuant
to this Agreement may be submitted to arbitration by written demand of any
party. To demand arbitration, any party (the "demanding party") shall give
written notice to the other party (the "responding party"). Such notice shall
specify the nature of the issue(s) in dispute, the monetary amount involved, and
the remedy requested. within twenty (20) days of the receipt of the notice, the
responding party shall answer the demand in writing, specifying the issue(s)
that party disputes. If the parties agree on a single arbitrator, the issues
shall be decided by the single arbitrator and his decision shall be final and
binding on the parties.. If, within ten (10) days after the responding party's
answer, the parties are unable to agree on a single arbitrator, each party shall
select one qualified arbitrator and notify the other party of such selection
within fifteen (15) days after the responding party's answer. Each of the
arbitrators shall be a disinterested person qualified by experience to hear and
determine the issues to be arbitrated. The arbitrators so chosen shall select a
neutral arbitrator within ten (10) days of their selection. If the named
arbitrators cannot agree on a neutral arbitrator, the arbitrators shall make
application to the chief judge of the highest trial court for Idaho County,
Idaho, with a copy to both parties, requesting that court to select and appoint
the third arbitrator. The court's selection shall be final and binding on the
parties. If either party does not name an arbitrator, the arbitrator named by
the other party shall serve as sole arbitrator. Immediately upon appointment of
the third arbitrator, each party shall present in writing to the panel of three
arbitrators (with a copy to the other party) their statement

                                      -26-
<PAGE>
of the issue(s) in dispute. Only matters expressly authorized by this Agreement
as being subject to arbitration shall be submitted to arbitration hereunder. The
arbitrators, as soon as possible, but not more than thirty (30) days after their
appointment, shall meet at a time and place within Graingville, Idaho,
reasonably convenient for the parties, after giving each party at least ten (10)
days notice. The arbitration hearing shall be conducted in accordance with the
commercial arbitration rules, but not under the auspices of the American
Arbitration Association. In the event of conflict between the provisions of this
Agreement and the provisions of the commercial arbitration rules of the American
Arbitration Association, the provisions of this Agreement shall prevail. The
failure of a party to appear at the hearing shall not operate as a default. The
attendance of all arbitrators shall not be required at all hearings. Actions of
the arbitrators shall be by majority vote. After hearing the parties in regard
to the matter in dispute, taking such evidence and making such other
investigation as justice requires and as the arbitrators deem necessary, they
shall decide the issues submitted to them within ten (10) days thereafter and
serve a written and signed copy of the award upon each party. Such award shall
be final and binding on the parties, and confirmation thereof may be applied for
in a court of competent jurisdiction by any party. If the parties settle the
dispute in the course of arbitration, such settlement shall be approved by the
arbitrators on request of either party and become the award. Each party shall
bear all its own expenses of arbitration. All arbitration proceedings shall be
conducted in the City of Grangeville, State of Idaho. The duty to arbitrate
shall survive the cancellation or termination of this Agreement.

         11.10 Closing for Sale of Interest. Any agreement between the parties
for the purchase and sale of all or any part of an Interest pursuant to the
exercise of the rights under this Article XI shall be completed at 11.:00 a.m.
on the thirtieth (30th) business day after a binding agreement for the purchase
and sale of the Interest has come into effect, or if any determination of value
is required
                                      -27-
<PAGE>
by agreement or arbitration, on the tenth (10th) business day after that
determination. Completion shall take place at the offices of ICMC in
Grangeville, Idaho. At the time scheduled for completion, ICMC shall deliver to
OWNER a certified check or bank draft in payment of the purchase price for the
Interest or portion thereof being purchased by ICMC, and OWNER shall deliver to
ICMC executed transfer documents of the Interest, or portion thereof, being
purchased by ICMC in form and substance satisfactory to ICMC and its attorneys.
The Interest, or portion thereof, being purchased by ICMC shall be transferred
by OWNER to ICMC free and clear of all liens, claims, charges and encumbrances
by, through or under OWNER, and if by reason of any lien, claim, charge or
encumbrance on the Interest, or portion thereof, being purchased by ICMC, OWNER
is unable to do so, ICMC may make payment to the holder of the lien, claim,
charge or encumbrance, which payment shall be deemed to be payment to OWNER and
shall be applied in reduction of the unpaid balance of the purchase price for
the Interest or portion thereof being purchased by ICMC.

         11.11 No Mortgages, Pledges, Charges or Encumbrances. OWNER shall not
pledge, mortgage, charge or otherwise encumber all or any part of its Interest
without the prior written approval of ICMC.

         11.12 Breach of Article XI. OWNER acknowledges that a breach by it of
this Article XI would result in loss to ICMC for which ICMC could not be
adequately compensated in damages by a monetary award. Accordingly, OWNER agrees
that in the event of any breach by it of this Article XI, ICMC shall, in
addition to all remedies available to ICMC at law or in equity, be entitled as a
matter of right to apply to a court of competent and equitable jurisdiction for
such relief by way of specific performance, restraining order, injunction
(including an interim injunction), decree or otherwise, as may be appropriate to
ensure compliance with the provisions of this Article XI.

         11.13 Assignment. Subject to ICMC-s rights set forth in Section 11.02
through 11.12 above, the rights and obligations of the Parties hereunder may be
assigned in whole or in part and the

                                      -28-
<PAGE>
provisions hereof shall extend to and be binding upon the successors and assigns
of the respective Parties. No change or division in the ownership of the
Property or of the Production Royalties or other monies to be paid under this
Agreement, however accomplished, shall operate to enlarge the obligations or
diminish the rights of ICMC under this Agreement and neither ICMC nor its
assigns shall ever be required to make such payments or render reports or
notices to more than one Party. If OWNER's interest in the Property is now or
hereafter owned by more than two Parties, those Parties shall, within thirty
(30) days of such event, designate in writing to ICMC a single Party to act for
all of them hereunder in all respects, including but not limited to the giving
and receiving of all notices, payments and reports hereunder. No sale or
assignment by OWNER shall be binding upon ICMC for any purpose until thirty (30)
days after such person or entity acquiring any interest has furnished ICMC with
an instrument or instruments or certified copies thereof documenting such
transferee's chain of title from the original OWNER.

         11.14 No Release from Obligations. In the event of assignment or
sublease of this Agreement by ICMC, in whole or in part, ICMC shall not be
relieved of its obligations with respect to the assigned or sublet portions
arising after the date of assignment or sublease.

         11.15 Transfer by ICMC. Notwithstanding Section 11.13 above, ICMC shall
not assign, sublet or transfer any rights or obligations regarding the Property
or this Agreement (in whole or in part) without first obtaining the prior
written consent of OWNER, which consent shall not be unreasonably withheld.
Additionally, OWNER's consent shall be conditioned upon assignee or sublessee
specifically agreeing, in writing, to be bound by the terms in this Agreement
including the Option and the Production Royalties.

                                      -29-
<PAGE>
                                   ARTICLE XII

                                  FORCE MAJEURE

         12.01 Force Majeure. All obligations of ICMC and all conditions with
respect to the continuation of this Agreement, specifically including the
payment of Royalty payments as set out in Section 4.01, shall be suspended and
ICMC shall not be deemed in default or liable for damages or other legal or
equitable remedies while, but only as long as, ICMC is prevented from complying
with such obligations or conditions in whole or in part by actions of
environmental pressure groups, strikes, lockouts, labor slowdowns or
disturbances, acts of God, war, explosion, flood, epidemics, unavoidable
accidents, uncontrollable delays in transportation, inability to obtain
necessary materials or services in the open market, unusually severe weather,
inadequate facilities for the transportation of materials, any local, state or
federal law, regulation or order, or any other matters beyond the reasonable
control of ICMC, whether similar to the matters herein specifically enumerated
or not ("Force Majeure"). The time or times specified herein for compliance by
ICMC with all obligations and conditions hereunder, including, without
limitation, obligations or conditions as to the incurring of Exploration and
Maintenance Expenditures, shall thereafter be extended for a period or periods
equal to the duration of the Force Majeure provided, however, that performance
shall be resumed within a reasonable time after such Force Majeure has ceased to
exist; and provided, further, that ICMC shall not be required to compromise or
settle any labor disputes or to question the validity or to refrain from
judicially testing the validity of any local, state or federal order, regulation
or law. without limitation of the above general provision, if ICMC is or becomes
subject, at any time, to environmental regulations or governmental restrictions
("environmental regulations or governmental restrictions" shall include any law,
rule, regulation, order, judgment, policy, proposal, action or inaction or
restriction relating to air pollution, water pollution, surface or subsurface
Exploration or mining and surface or subsurface effects of mining

                                      -30-
<PAGE>
or land use) which prohibit or materially affect any operations hereunder or
planned to be carried out hereunder, ICMC shall have the right to declare the
existence of a condition of Force Majeure during the period in which ICMC is in
good faith seeking a feasible method to comply with, be exempted from, modify,
obtain necessary permits or licenses under or prevent the enactment,
promulgation or enforcement of such environmental regulations or governmental
restrictions. OWNER agrees to cooperate with ICMC in prosecuting any such
actions.

                                  ARTICLE XIII

                                   [RESERVED]

                                   ARTICLE XIV

                       OPTION TO ENTER INTO JOINT VENTURE

         14.01 Grant of Option. OWNER hereby reserves and ICMC hereby grants to
OWNER an exclusive option (hereinafter the "Option") to enter into a joint
venture in regard to the Property upon the terms and conditions set forth
herein.

         14.02 Consideration. The Parties agree that the consideration contained
in this Agreement shall be sufficient consideration for the grant of this
option.

         14.03 Exercise of the Option.

                  A. OWNER may, subject to the provisions of Section 14.05
         below, exercise the Option at any time after the Effective Date hereof
         and prior to five (5) years from the Effective Date of this Agreement
         by the delivery of written notice to ICMC of OWNER's intent to exercise
         the Option, together with two (2) originals of Joint venture Agreement,
         dated the date of the notice and executed by OWNER. Within thirty (30)
         days after ICMC's receipt of

                                      -31-
<PAGE>
         OWNER's exercise of the Option, ICMC shall, unless ICMC exercises its
         termination right under Section 14.05 below, execute and return to
         OWNER one (1) original Joint Venture Agreement.

                  It is agreed by the Parties that such Joint Venture Agreement
         shall generally follow the then current Rocky Mountain Mineral Law Form
         of joint venture agreement and shall specifically provide that: (1) the
         Mineral Lease Agreement shall remain in effect and shall be the basis
         on which the OWNER (as to 49%) and ICMC (as to 51%) shall have rights
         and obligations in and with respect to the Property; provided, however,
         that OWNER shall not be entitled to the Production Royalty. (2) each
         party will fund its proportionate share of ongoing expenditures on the
         Property or have its interest deducted; (3) a management committee will
         approve all operations and activities of the venture and will consist
         of two members from each of ICMC and OWNER, with ICMC to hold the
         deciding vote so long as ICMC retains not less than 51% interest in the
         joint venture; (4) ICMC will have the right to be operator of the joint
         venture so long as it retains not less than a 51% interest in the joint
         venture; and (5) in the event of a conflict between OWNER's rights and
         obligations as a joint venture and its rights as lessor under the
         Mineral Lease Agreement, its rights under the Mineral Lease Agreement
         shall be paramount.

                  Provided that: (1) ICMC has not exercised its right under
         Section 14.05 below to terminate OWNER's exercise of the option, and
         (2) ICMC has executed and returned a copy of the Joint venture
         Agreement as provided for above, OWNER, within forty-five (45) days
         after delivery of the option notice to ICMC, shall pay ICMC the

                                      -32-
<PAGE>
         amount of One Hundred and Fifteen Percent (115%) of ICMC's
         Exploration and Maintenance Expenditures incurred on the Property from
         January 1, 1996, until exercise of the Option by OWNER.

         14.04 Covenants Running with the Land; Specific Performance.

         The covenants and agreements of OWNER and ICMC under this Option are
intended to touch and concern the Property and to be and shall be covenants
running with the land with respect to the Property and shall be binding upon
OWNER and ICMC and OWNER's and ICMC's representatives and permitted successors
and assigns. This Option and the Joint venture Agreement to be entered into
pursuant hereto shall be specifically enforceable by ICMC and by ICMC's
representatives, successors and assigns.

     14.05 Termination of Option.

         In the event that OWNER does not exercise the Option in the manner
provided herein, then: (i) this Option shall, without further action of any
party, automatically terminate and thereafter be null and void and of no further
force or effect, and (ii) neither Party shall have any further rights or
obligations with respect to the Option. Additionally, ICMC shall have the right
to terminate OWNER's Option by payment to OWNER of Three Hundred Thousand
(Canadian) Dollars (Cdn $300,000) at any time up to twenty-one (21) days after
receipt by ICMC of the Option notice sent by OWNER.

                                      -33-
<PAGE>
                                   ARTICLE XV

                               GENERAL PROVISIONS

         15.01 Competition. This Agreement is, and the rights and obligations of
the Parties are, strictly limited to the Property and the Parties shall have the
free and unrestricted right to engage in and independently receive the full
benefits of any and all business ventures of any sort whatsoever, whether or not
competitive with the activities undertaken pursuant hereto, without consulting
the other or inviting or allowing the other to participate therein. Neither of
the Parties shall be under any fiduciary or other duty to the other which will
prevent it from engaging in or enjoying the full benefits of any competing
venture or ventures within the general scope of the activities contemplated by
this Agreement. Without limiting the generality of the foregoing, neither Party
shall be under any duty to disclose to the other Party information and data
relating to the Property which it obtains outside the scope of its activities
under this Agreement.

         15.02 Memorandum for Recording. This Agreement shall not be recorded
for, by or on behalf of either Party. OWNER agrees to execute and ICMC shall
record a notice or memorandum of this Agreement, which shall be in a form
suitable for recording under the state and local laws of Idaho, specifying that
the interests of ICMC and OWNER in the Property are subject to the terms and
conditions of this Agreement.
                                      -34-
<PAGE>
         15.03 Governing Law. This Agreement shall be governed and construed
according to the laws of Idaho and subject to the jurisdiction of the courts of
such state. In addition, this Agreement shall be subject to all applicable laws,
rules and regulations of public bodies having jurisdiction over the development
or operation of the Property.

         15.04 Not a Partnership. It is not the purpose or intention of this
Agreement to create a partnership, mining partnership, commercial partnership or
any other partnership relation between the Parties hereto. Each of the Parties
shall be responsible only for its respective obligations and liabilities as set
forth in this Agreement and neither Party shall have any authority to act for or
to assume any obligations or responsibility on behalf of the other Party.
Nothing contained in this Agreement shall be deemed to constitute any Party the
partner of the other or the agent or legal representative of the other or to
create any fiduciary relationship between them. Each Party agrees to indemnify
and hold harmless the other Party, its directors, officers, employees and agents
from and against any and all losses, claims, damages and liabilities arising out
of any act taken or made by or on behalf of the other Party, its directors,
officers, employees or agents under or in relation to this Agreement, except
pursuant to authority expressly granted herein or otherwise agreed to between
the Parties. The provisions of this Section 15.04 shall survive termination of
this Agreement.

         15.05 Laws and Regulations. In the conduct of its operations on the
Property, ICMC shall be responsible for compliance with applicable laws and
regulations, including laws and regulations related to Exploration, Mining,
Development and reclamation.
                                      -35-
<PAGE>
         15.06 Manner of Giving Notices. Any notice, election, proposal,
objection or other document, including any proposed public announcement, press
release or other disclosure, required or permitted to be given hereunder
("Notices") shall be in writing addressed to the Parties as follows:

ICMC:    IDAHO CONSOLIDATED METALS CORP.
         Post Office Box 2124
         Lewiston, Idaho 83501
         Attention: Mr. Wilf Struck
         FAX NO: (208) 746-6670

OWNER:   c/o Bema Gold Corporation
         1400 - 510 Burrand Street Vancouver,  B.C. V6C 3A8
         Attention:  Mr. Roger Richer
         FAX NO: (604)681-6209

         All Notices shall be given: (a) by personal delivery to ICMC, (b) by
electronic communication, with the original Notice sent by registered or
certified mail in the United States of America mail, return receipt requested,
or (c) by registered or certified mail in the United States of America mail,
return receipt requested. All Notices shall be effective and shall be deemed
delivered: (a) if by personal delivery, on the date of delivery if delivered
during normal business hours, and, if not delivered during normal business
hours, on the next business day following delivery, (b) if by electronic
communication, on the next business day following receipt of the electronic
communication, and (c) if solely by mail, on the next business day after actual
receipt. A Party may at any time change its address for future Notices hereunder
by Notice in accordance with this Section 15.06.

         15.07 Currency. Except as provided for in Section 14.05, all amounts of
money expressed or payable hereunder are expressed and shall be paid in dollars
of the United States of America.

         15.08 [RESERVED]
                                      -36-
<PAGE>
         15.09 Further Assurances. Each of the Parties hereby covenants and
agrees to execute any further and other documents and instruments and to take
any further and other actions that may be necessary to implement and carry out
the intent of this Agreement.

         15.10 Binding Effect. This Agreement shall enure to the benefit of and
be binding upon the Parties hereto and their respective successors and permitted
assigns. This Agreement shall be binding upon each Party which has executed and
delivered it, whether or not it has been executed and delivered by all Parties.

         15.11 Headings. The articles, sections, titles and other headings of
this Agreement (other` than the definitions) are inserted only for convenience
and shall not control or affect the meaning, construction or interpretation of
the Agreement or affect its terms and provisions.

         15.12 Severabilitv. In the event any provision of this Agreement is, or
the operations contemplated hereby are, found to be inconsistent with or
contrary to any law, rule or regulation, the latter shall be deemed to control
and this Agreement shall be regarded as modified accordingly and shall continue
in full force and effect as so modified.

         15.13 Perpetuities. The Parties to this Agreement do not intend that
there shall be any violation of the Rule Against Perpetuities or any related
rule pertaining to restraints upon alienation. If any such violation should
inadvertently exist, it is the intent and desire of the Parties hereto that the
appropriate court shall reform such provision or provisions in such a way as to
approximate most closely the intent of the Parties hereto within the limits
permissible under such Rule or related rule.

         15.14 Waiver. Modification or Amendment. No failure or delay on the
part of either OWNER or ICMC in exercising any of their respective rights
hereunder upon any failure by the other party to perform or observe any
condition, covenant or provision herein contained shall operate as a waiver
thereof, nor shall any single or partial exercise of any of such rights preclude
any other or further exercise thereof or the exercise of any other right

                                      -37-
<PAGE>
hereunder. Neither this Agreement nor any provision hereof may be supplemented,
changed, waived, or discharged orally, or by any course of dealing or trade
usage, but only by an instrument in writing signed by the Party against whom the
enforcement of the supplement, change, waiver, or discharge is sought.

         15.15 Counterparts. This Agreement may be executed in any number of
counterparts, each of which shall be deemed an original.

         15.16 Advisors to OWNER. OWNER expressly acknowledges that it has
sought (or had the opportunity to seek) the advice of OWNER'S own advisors,
including but not limited to, legal, tax, financial, geologic, and engineering,
to assist OWNER in reviewing this Agreement. OWNER expressly acknowledges that
OWNER is not relying on any oral or written statement (not expressly set forth
in this Agreement) made by ICMC, its employees or agents regarding any matters
pertaining to this Agreement.

         15.17 Acknowledgement and Agreement - ICMC hereby acknowledges receipt
of a copy of the letter dated June 6, 1996 from Woodburn and wedge, Attorneys to
OWNER, addressed to Arctic Fox Ltd. and Gray Estates Company discussing the
history of the Property. ICMC agrees with the analysis set out in that letter
and, more specifically, agrees that neither Arctic Fox Ltd. nor Gray Estates
Company has an operating right of first refusal with respect to the Property.

         15.18 Registration of ICMC Stock. ICMC shall bear all costs and
expenses associated with removing any restrictions on the marketability of the
ICMC Stock.

         15.19 Entire Agreement. This Agreement (including Exhibits A and B
shall constitute the complete understanding and agreement of the Parties with
respect to the Property and the subject matter hereof, all previous agreements
with respect thereto being expressly rescinded and replaced hereby. No
modification or alteration of this Agreement shall be effective unless in
writing executed subsequent to the date hereof by both of the Parties. No prior
written or contemporaneous oral promises, representations or agreements shall be
binding upon the Parties.
                                      -38-
<PAGE>
IN WITNESS WHEREOF, the Parties hereto have executed
this Agreement as of the date first above written.

IDAHO GOLD CORPORATION                 IDAHO CONSOLIDATED METALS CORP.

By: [ILLEGIBLE SIGNATURE]              By: /S/ WILF STRUCK

Title: Director/Secretary/Treasurer    Title: Chief Operating Officer,
                                              Vice President

                                      -39-
<PAGE>
State of Idaho             )
                                    : ss.
County of Nez Perce  )

         On this 4th day of February, 1997, before me, the undersigned, a Notary
Public in and for said state, personally appeared WILF STRUCK, known and
identified to me to be person whose name is subscribed to the within instrument,
and acknowledged to me that he executed the same.

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

                                  Notary Public for the State of Idaho
                                  Residing at Lewiston
                                  My commission expires 9-21-02

                                      -40-
<PAGE>
                                    EXHIBIT A
                                       to
                             MINERAL LEASE AGREEMENT
                                     Between
                             IDAHO GOLD CORPORATION
                                       and
                         IDAHO CONSOLIDATED METALS CORP.

                                   "Property"

                                      -1-
<PAGE>
SCHEDULE "A"

FRIDAY PATENT CLAIMS
BGSHA.WB2

         Claim             Patent           Survey            Acres
         Name              Number           Number

Friday Fraction            41174            1834              20.659
Friday                     41174            1834              18.559
Regina                                      1833              16.595
Alaska            3        41174            1834              20.653
Alaska            4        41174            1834              20.653
<PAGE>
                                    EXHIBIT B
                                      To
                             MINERAL LEASE AGREEMENT
                                     Between
                             IDAHO GOLD CORPORATION
                                       and
                         IDAHO CONSOLIDATED METALS CORP.

                               NET SMELTER RETURNS

                                      -1-
<PAGE>
                          SCHEDULE "B" - FRIDAY CLAIMS

                               NET SMELTER RETURNS

1.       The royalty which may be payable to Idaho Gold Corporation (hereinafter
         called the "Payee") pursuant to paragraph 3(d) of the Assignment of
         Interests Agreement by Idaho Consolidated Metals Corp. (hereinafter
         called the "Payor") will be 3%, of 100% of the Net Smelter Revenue ( as
         hereinafter defined) and will be calculated and paid to the Payee in
         accordance with the terms of this Schedule "B". Terms having defined
         meanings in the Agreement and used herein will have the same meanings
         in this Schedule as assigned to them in the Assignment of Interests
         Agreement unless otherwise specified or the context otherwise requires.

2.       The Net Smelter Revenue will be calculated on a calendar quarterly
         basis and will, subject to paragraph 7 of this Schedule "B", be equal
         to Gross Revenue less Permissible Deductions for such quarter.

3.       The following words will have the following meanings:

         (a)      "Gross Revenue" means the aggregate of the following amounts
                  received in each quarterly period following the commencement
                  of commercial production from the Mining Properties:

                  (i)      the revenue received by the Payor from arm's length
                           purchasers of all Product;

                  (ii)     the fair market value of all Product sold by the
                           Payor in such period to persons not dealing at arm's
                           length with the Payor; and

                  iii)     any proceeds of insurance on Product;

         (b)      "Ore" means all materials from the Mining Properties, the
                  nature and composition of which justifies either:

                  (i)      mining or removing from place and shipping and
                           selling such material, or delivering such material to
                           a processing plant for physical or chemical
                           treatment; or

                  (ii)     leaching such material in place;

         (c)      "Permissible Deductions" means the aggregate of the following
                  charges (to the extent that they are not deducted by any
                  purchaser in computing payment) that are paid in each
                  quarterly period:
<PAGE>
                                                                               2

                  (i)      sales charges levied by any sales agent on the sale
                           of Product,

                  (ii)     transportation costs for Product from the Mining
                           Properties to the place of beneficiation, processing
                           or treatment and thence to the place of delivery of
                           Product to a purchaser thereof, including shipping,
                           freight, handling and forwarding expenses;

                  (iii)    all costs, expenses and charges of any nature
                           whatsoever which are either paid or incurred by the
                           Payor in connection with refinement or beneficiation
                           of Product after leaving the Property, including all
                           weighing, sampling, assaying and representation
                           costs, metal losses, any umpire charges and any
                           penalties charged by the processor, refinery or
                           smelter, and

                  (iv)     all insurance costs on Product, and any government
                           royalties, production taxes, severance taxes and
                           sales and other taxes levied on Ore, Product or on
                           the production or value thereof (other than any
                           Federal or Provincial taxes levied on the income or
                           profit of the Payor);

         (d)      "Product" means:

                  (i)      all Ore shipped and sold prior to treatment, and

                  (ii)     all concentrates, precipitates and products produced
                           from Ore.

4.       The payment on account of the royalty for each calendar quarter will be
         calculated and paid within 60 days after the end of each calendar
         quarter. Smelter settlement sheets, if any, and a statement setting
         forth calculations in sufficient detail to show the payment's
         derivation (the "Statement") must be submitted with the payment.

5.       In the event that final amounts required for the calculation of the
         payment on account of the royalty are not available within the time
         period referred to in section 4 of the Schedule "B", then provisional
         amounts will be estimated and such payment will be paid on the basis of
         this provisional calculation. Positive or negative adjustments will be
         made to the payment on account of the royalty for the succeeding
         quarter.

6.       All payments on account of the royalty will be considered final and in
         full satisfaction of all obligations of the Payor with respect thereto,
         unless the Payee delivers to the Payor a written notice (the "Objection
         Notice") describing and setting forth a specific objection to the
         calculation thereof within 60 days after
<PAGE>
                                                                               3

         receipt by the Payee of the Statement. If the Payee objects to a
         particular Statement as herein provided, the Payee will, for a period
         of 60 days after the Payor's receipt of such Objection Notice, have the
         right, upon reasonable notice and at reasonable times, to have the
         Payor's accounts and records relating to the calculation of the payment
         in question audited by the auditors of the Payee. If such audit
         determines that there has been a deficiency or an excess in the payment
         made to the Payee, such deficiency or excess will be resolved by
         adjusting the next quarterly payment due hereunder. The payee will pay
         all the costs and expenses of such audit unless a deficiency of 5 % or
         more of the amount due is determined to exist. The Payor will pay the
         costs and expenses of such audit if a deficiency of 5 % or more of the
         amount due is determined to exist. Failure on the part of the Payee to
         made a claim against the Payor for adjustment in such 60 day period by
         delivery of an Objection Notice will conclusively establish the
         correctness and sufficiency of the Statement and payment on account of
         the royalty for such quarter.

7.       All profits and losses resulting from the Payor engaging in any
         commodity futures trading, option trading, metals trading, gold loans
         or any combination thereof, and any other hedging transactions with
         respect to Product which is a precious metal (collectively, "Hedging
         Transactions") are specifically excluded from calculations of the
         payments on account of the royalty pursuant to this Schedule "B" (it
         being the intent of the parties that the Payor will have the
         unrestricted right to market and sell Product to third parties in any
         manner it chooses and that the Payee will not have any right to
         participate in such marketing activities or to share in any profits or
         losses therefrom. All Hedging Transactions by the Payor and all profits
         or losses associated therewith, if any, will be solely for the Payor's
         account. The amount of Net Smelter Revenue derived from all Product
         subject to Hedging Transactions by the Payor will be determined
         pursuant to the provisions of this paragraph 7 and not paragraph 2. As
         to precious metals subject to Hedging Transactions by the Payor, Net
         Smelter Revenue will be determined without reference to Hedging
         Transactions and will be determined by using, for gold, the quarterly
         average price of gold, which will be calculated by dividing the sum of
         all London Bullion Market Association P.M. Gold Fix prices reported for
         the calendar quarter in question by the number of days for which such
         prices were quoted. Any Product subject to Hedging Transactions will be
         deemed to be sold, and revenues received therefrom, only on the date of
         the final settlement of the amount of refined Product allocated to the
         account of the Payor by a third party refinery in respect of such
         transactions. Furthermore, the Payor will have no obligation to fulfill
         any futures contracts, forward sales, gold loans or other Hedging
         Transactions which the Payor may hold with Product.

8.       If the royalty becomes payable to two or more parties, those parties
         will appoint, and will deliver to the Payor a document executed by all
         of those parties appointing, a single agent or trustee of all such
         parties to whom the
<PAGE>
                                                                               4

         Payor will make all payments on account of the royalty. The Payor will
         have no responsibility as to the division of the royalty payments
         amount such parties, and if the Payor makes a payment or payments on
         account of the royalty in accordance with the provisions of this
         paragraph 8, it will be conclusively deemed that such payment or
         payments have been received by the Payee. All charges of the agent or
         trustee will be borne solely by the parties receiving payments on
         account of the royalty.

9.       Notwithstanding the foregoing, the royalty payable shall be limited to
         US$1,000,000.

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