Document:

Exhibit 10.7

 

Execution Version

 

OPTION AGREEMENT

FOR PURCHASE AND SALE OF REAL PROPERTY

 

This Option Agreement for
Purchase and Sale of Real Property (“Contract”) is made and entered into as of September 7, 2021 (the “Effective
Date”), by and between Homestake Mining Company of California, a California corporation (“Owner”), and Dakota
Territory Resource Corp., a Nevada corporation (“Option Holder”). Owner and Option Holder sometimes may be referred
to in this Contract individually as a “Party”, and collectively as the “Parties”.

 

RECITALS

 

WHEREAS,
Owner is the owner of the fee lands and patented mining claims situated in Lawrence County, South Dakota, which are more particularly
described in Exhibit B attached hereto and made a part hereof, together with any buildings and other improvements thereon
related to Mining Operations and any and all appurtenances thereto (collectively, the “Property”);

 

AND WHEREAS, Owner
wishes to grant to Option Holder, and Option Holder wishes to obtain from Owner, the Option (as defined below) from the Effective Date
until the Option Exercise Expiration Date (as defined herein), in exchange for the Option Consideration (as defined below);

 

NOW THEREFORE THIS AGREEMENT
WITNESSES THAT, in consideration of the foregoing and of the mutual promises and covenants contained in this Contract, the receipt
and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, the Parties, hereby covenant and agree as
to the following:

 

TERMS AND CONDITIONS

 

1.             Definitions.
The following terms when used in this Contract shall have the following meanings:

 

1.1           Additional
Option Cash Consideration. The meaning set forth in Section 2.2.2.

 

1.2           Additional Option
Cash Consideration Payment Date. The meaning set forth in Section 2.2.2.

 

1.3          Affiliate.
With respect to any Person, any other Person that directly or indirectly, through one of more intermediaries, controls, is controlled
by, or is under common control with, such Person. For purposes of this definition, “control” means the possession, directly
or indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership
of voting securities, by contract, or otherwise.

 

1.4          Attorneys’
Fees. All reasonable fees and expenses charged or incurred by an attorney for services and the services of any paralegals, legal
assistants or law clerks, including, but not limited to, reasonable fees and expenses charged for representation at the trial level and
in all appeals, and the reasonable fees and expenses of experts.

 

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1.5           Business Day.
Any day that the banks in New York City, New York and Toronto, Ontario, Canada are open for business, excluding Saturdays and Sundays.

 

1.6           Closing.
The delivery of the Closing Documents, which shall occur at a mutually agreed time and place on the Closing Date. The term “Close”
shall have a correlative meaning.

 

1.7          Closing Date.
The date of the Closing as mutually agreed by the Parties; provided that it shall be no later than thirty (30) days after the date of
execution of the Purchase Agreement.

 

1.8          Closing Documents.
The Quitclaim Deed and the Bill of Sale, each in the form attached to the Purchase Agreement, and the other Closing Documents (as defined
in the Purchase Agreement).

 

 1.9           Confidentiality Parties. The meaning set forth in Section 10.14.1

 

 1.10         Contract. The meaning set forth in the Preamble.

 

 1.11         Contract Matters. The meaning set forth in Section 10.14.1.

 

 1.12         Dakota Shares. Shares of common stock, par value $0.001 per share, of Option Holder.

 

1.13         Data. All data,
documentation and information which Owner possesses relating to the Property and the Donation Assets, including, by way of illustration
and not by limitation: (a) all geological, geochemical and geophysical maps, reports, surveys and tests; (b) deeds, mortgages, ALTA or
boundary surveys, licenses, title insurance reports and policies, or equivalent documentation, if any; (c) all drill hole maps, drill
logs, drill core, drill cuttings, chip trays, and other samples taken from the Property and the Donation Assets; (d) all engineering and
metallurgical reports, studies and tests; (e) all sample and assay logs, maps, reports and tests; (f) all mineral resource and ore reserve
calculations, estimates, reports, studies and tests; (g) all anthropological, biological, cultural, hydrologic, environmental, meteorological,
and other like reports, studies, surveys and tests; and (h) all other data relating to the Property and the Donation Assets, in each case,
including any such data, documentation or information in digital, electronic, magnetic, optical and written format, all of which is unverified,
but, in each case, excluding Privileged Documents.

 

1.14         Donation
Agreement. The Property Donation Agreement dated April 14, 2006, among Owner, The State of South Dakota and The South Dakota Science
and Technology Authority.

 

1.15        
Donation Assets. “Assets,” as defined in the Donation Agreement.

 

1.16         Effective Date. The meaning set forth in the Preamble.

 

 1.17        Encumbrance. Any lien, pledge,
mortgage, indenture, option, royalty, deed of trust, rights granted under a streaming agreement or other alternative financing
agreement, security interest, charge, claim, reservation,
easement, right-of-way, restriction, servitude, surface use agreement, imperfection of title, right of first offer or first refusal or
similar right, encroachment or other similar encumbrance or obligation created in favor of a third party.

 

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1.18         Environmental
Laws. All applicable Governmental Requirements relating to the protection of human health and safety, the environmental or hazardous
or toxic substances or wastes, pollutants or contaminants.

 

1.19         Exploration.
Any activities, including physically invasive activities, seismic monitoring, mapping, conducting base line or foundation studies, site
engineering, surveys or survey updates, appraisals, environmental assessments or other testing, or other surface-related geophysical work,
directed toward ascertaining the existence, location, quantity, quality or commercial value of mineral deposits, including drilling required
after discovery of potentially commercial mineralization, all in accordance with Mining Industry Best Practices, but excluding Mining
Operations.

 

 1.20          Exploration Plan. The meaning set forth in Section 4.1.1.

 

1.21        Financial
Statements. The consolidated audited annual financial statements of Option Holder and the unaudited quarterly financial
statements of Option Holder, prepared in accordance with GAAP.

 

1.22          GAAP.
Generally accepted accounting principles in the United States, consistently applied.

 

1.23         Governmental Authority. Any federal, state, county, municipal or other governmental department, entity, authority, commission,
board, bureau, court, agency or any instrumentality of any of them.

 

1.24          Governmental
Requirement. Any law, enactment, statute, code, ordinance, rule, regulation, formal interpretation, judgment, decree, writ, injunction,
franchise, Permit, certificate, license, authorization, agreement, or other direction or requirement of any Governmental Authority now
existing or hereafter enacted, adopted, promulgated, entered, or issued applicable to Owner, the Property, the Donation Assets, the Donation
Agreement or the Data.

 

1.25          Knowledge
of Owner. The actual knowledge of Jeff Burich, Patrick Malone and Michael McCarthy, without further investigation.

 

 1.26          Material Adverse Event. The meaning set forth in Section 8.1.7.

 

1.27        
Memorandum of Option. The Memorandum of Option in the form attached hereto as Exhibit C.

 

1.28        Mining
Industry Best Practices. The best practices; methods; specifications; licensing requirements; standards of care, skill,
diligence, safety and performance; environmental health and safety standards (including the use of certified or third party verified
environmental management systems and adherence to the International Council on Mining and Metals guiding principles, or such other
established industry standards as may be agreed in writing by the Parties from time to time); and acts generally engaged in or
observed by recognized and experienced international mining companies, as in effect from time to time for Mining Operations, which
are consistent with good judgment, reliability, and safety, all in compliance with applicable Governmental Requirements (including
Environmental Laws).

 

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1.29        
Mining Operations. Any mining, extracting, producing, handling, milling, leaching, beneficiation or other processing of ores;
any preparation for the removal and recovery of minerals, in-fill drilling, pre-production stripping, stripping and the construction
or installation of any mill, leach facilities, or any other improvements to be used for the mining, extracting, producing, handling,
milling, leaching, beneficiation or other processing of ores; actions performed during or after the foregoing to comply with the requirements
of all Environmental Laws or contractual commitments related to reclamation of the Property or other compliance with Environmental Laws;
and the attendant reclamation and remediation and closure upon completion of the foregoing, including obligations or responsibilities
that are reasonably expected to or actually continue or arise, such as, without limitation, future monitoring, management, treatment
or stabilization.

 

 1.30          Option. The meaning set forth in Section 2.1.

 

 1.31          Option Cash Consideration. The meaning set forth in Section 2.2.1.

 

 1.32          Option Consideration. The meaning set forth in Section 2.2.

 

1.33         Option
Exercise Notice. The written notice from Option Holder received by Owner during the Option Period confirming Option Holder’s
exercise of the Option granted under this Contract.

 

1.34         Option Exercise Expiration Date. The date that the Option shall terminate and expire, which such date shall occur at the end of
the Option Period unless Option Holder has previously delivered the Option Exercise Notice.

 

1.35        
Option Holder. The meaning set forth in the Preamble, having an address for notices hereunder at c/o Dakota Territory Resource
Corp., 106 Glendale Drive, Suite A, Lead, South Dakota 57754, Attention: Jonathan Awde, Email: JAwde@gold-sd.com with copies to Option
Holder's Attorney.

 

1.36          Option Holder’s
Attorney. Skadden, Arps, Slate, Meagher & Flom LLP, having an address for notices hereunder at: One Manhattan West, New York,
NY 10001, Attention: Michael J. Hong, Esq., Email: Michael.Hong@skadden.com.

 

1.37         Option Period.
The period that begins on the Effective Date and ends on the earlier of (a) the date that is thirty-six (36) consecutive months after
the Effective Date, and (b) the date the Option Holder delivers to Owner the Option Exercise Notice.

 

1.38         Option Shares.
The meaning set forth in Section 2.2.1.

 

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1.39         Owner.
The meaning set forth in the Preamble, having an address for notices at c/o Barrick Gold Corp., 161 Bay Street, Suite 3700, Toronto, Ontario,
M5J 2S1 Attn: General Counsel with copies to Owner's Attorney.

 

1.40         Owner’s Attorney.
Parsons Behle & Latimer, having an address for notices hereunder at: 201 South Main Street, Suite 1800, Salt Lake City, Utah 84111,
Attention: Jacob Santini, Email: jsantini@parsonsbehle.com, with a copy to Barrick Gold of North America Inc., 301 South Main Street,
Suite 1150, Salt Lake City, Utah 84101, Attention: General Counsel (North America), Email: USLegalNotices@barrick.com, mmccarthy@barrick.com.

 

 1.41         “Parties” and “Party”. The meaning set forth in the Preamble.

 

1.42         Permit.
Any permit, license, approval, consent, ruling, authorization, certification, concession, exemption, variance, notification, waiver,
clearance or registration obtained from, or issued by, any Governmental Authority.

 

1.43         Permitted Encumbrances.
Any: (a) Encumbrances for Taxes, assessments or other governmental charges not yet delinquent or the amount or validity of which is being
contested in good faith and diligently by appropriate proceedings; (b) Encumbrances of mechanics, carriers, workers, repairers, warehousemen
and similar Persons arising or incurred in the ordinary course of business in respect of liabilities that are not yet due or if due and
payable, but are unpaid, are being contested in good faith, and in respect of which adequate resources are maintained; (c) matters of
public record; (d) any conditions that reasonably would be expected to be shown by a current land survey or search or examination of
publicly available information or documents; (e) Environmental Laws; (f) Encumbrances that arise due to zoning, subdivision, entitlement,
and other Governmental Requirements related to land use; (g) royalty interests of public record; (h) the paramount title of the United
States; (i) pledges made with respect to Owner Permits; (j) orders of any Governmental Authority; and (k) any Encumbrances set forth in
this Contract, the Purchase Agreement, the Memorandum of Option, the Related Agreements or the Donation Agreement.

 

1.44         Person. Any natural
or artificial legal entity whatsoever, including, but not limited to, any individual, general partnership, limited partnership, unincorporated
association, sole proprietorship, corporation, limited liability company, trust, business trust, real estate investment trust, joint venture,
or Government Authority.

 

1.45        
Privilege. The meaning set forth in Section 4.2.4.

 

1.46        
Privileged Documents. The meaning set forth in Section 4.2.4.

 

1.47        
Proceeding. The meaning set forth in Section 6.1.6.

 

1.48        
Property. The meaning set forth in the Recitals.

 

1.49        
Purchase Agreement. The Asset Purchase Agreement attached hereto in the form of Exhibit A.

 

1.50         Purchase Shares.
The meaning set forth in Section 3.2.2.

 

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1.51         Related Agreements. The (a) Memorandum of Option, (b) the Purchase Agreement, and (c) Closing Documents.

 

1.52         Representative.
With respect to any Person, any and all directors, officers, members, managers, employees, consultants, financial advisors, counsel, accountants
and other agents of such Person.

 

1.53     Restricted
Areas. The (a) Grizzly Gulch Tailings Storage Facility, including any associated dams, embankments, or other improvements or
facilities related thereto, (b) the East, Yates and Sawpit Waste Rock Dumps, and (c) the WASP Rubble Site, in each case located on
the Property.

 

 1.54         SEC. The United States Securities and Exchange Commission.

 

1.55         Securities Act. The Securities Act
of 1933, as amended, and the rules and regulations promulgated thereunder.

 

 1.56         Securities Filings. The meaning set forth in Section 7.1.6(b).

 

1.57         Tax. All federal, state, local,
foreign and other income, gross receipts, sales, use, severance, depletion, production, ad valorem, transfer, franchise,
registration, profits, license, lease, service, service use, withholding, payroll, employment, unemployment, estimated, excise,
severance, environmental, stamp, occupation, premium, property (real or personal), real property gains, windfall profits, customs,
duties or other taxes, fees, assessments or charges in the nature of a tax of any kind whatsoever, together with any interest,
additions or penalties with respect thereto and any interest in respect of such additions or penalties.

 

 1.58         Termination Event. The meaning set forth in Section 8.1.

 

1.59         Transfer. To, directly or
indirectly, sell, transfer, assign, convey, dispose or otherwise grant a right, title or interest (including a joint venture
interest or an expropriation or other transfer required or imposed by Law or any Governmental Authority, whether voluntary or
involuntary), or to abandon, surrender or otherwise relinquish a right, title or interest.

 

2.             Option.

 

2.1           Grant
of Purchase Option. Owner hereby grants to Option Holder the sole and exclusive right and option during the Option Period to
elect to purchase (i) all of Owner’s right, title, and interest in and to the Property and the Data and (ii) subject to
applicable Governmental Requirements, all of Owner’s rights, title and interest under the Donation Agreement (including, but
not limited to, the condition under Section 6.4 therein regarding the continued ownership, use and occupancy of the Assets by the
Authority (as defined therein)) in consideration for the Assumption, upon the terms and conditions set forth herein (the
 “Option”), which Option must be exercised in whole, but not in part, by Option Holder (if at all) in accordance
with the terms and conditions of this Contract.

 

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2.2          Payment of
Purchase Option Price. In consideration for the granting of the Option, Option Holder shall pay to Owner the following (the “
Option Consideration”):

 

2.2.1       On the Effective Date,
Option Holder shall (a) pay to Owner an amount in cash equal to $1,300,000, by wire transfer of immediately available funds to one or
more bank accounts designated by Owner on or before the Effective Date (the “Option Cash Consideration”); and (b) issue
to Owner or its designee 1,000,000 Dakota Shares (the “Option Shares”), which Option Shares shall be (i) registered
in the name of Owner or its designee in book-entry form by the Option Holder’s transfer agent and (ii) bear a customary restrictive
legend reflecting the issuance of the Option Shares in a transaction exempt from registration under the Securities Act. Owner shall promptly
provide to Option Holder and its transfer agent such documentation reasonably requested by them in connection with the delivery of the
Option Shares to Owner.

 

2.2.2       In
addition to the Option Cash Consideration and the Option Shares, Option Holder shall pay to Owner additional cash consideration of
$600,000 (the “ Additional Option Cash Consideration”), $300,000 of which shall be paid on the first anniversary
of the Effective Date, and the remaining $300,000 of which shall be paid on the second anniversary of the Effective Date (each, an
 “Additional Option Cash Consideration Payment Date”); provided, if an Additional Option Cash Consideration
Payment Date falls on a day other than a Business Day, then the Additional Option Cash Consideration will be paid on the immediately
succeeding Business Day. Payments of Additional Option Cash Consideration shall be made by wire transfer of immediately available
funds to one or more bank accounts designated by Owner on or before the applicable Additional Option Cash Consideration Payment
Date. If the Closing occurs before an Additional Option Cash Consideration Payment Date, then Option Holder shall not be required to
pay the Additional Option Cash Consideration payable on such Additional Option Cash Consideration Payment Date and, if applicable,
any subsequent Additional Option Cash Consideration payments. If Option Holder terminates this Contract before an Additional Option
Cash Consideration Payment Date, then Option Holder shall not be required to pay the Additional Option Cash Consideration payable on
such Additional Option Cash Consideration Payment Date and, if applicable, any subsequent Additional Option Cash Consideration
payments.

 

2.3           Memorandum
of Option. On the Effective Date, provided that Owner shall have received from Option Holder the Option Cash Consideration and the
Option Shares, Option Holder, at its cost and expense, shall have the right to record the Memorandum of Option in Lawrence County, South
Dakota. The Memorandum of Option shall not limit, increase or in any manner affect any of the terms of this Contract or any rights, interests
or obligations of the Parties hereunder.

 

2.4           No Partnership.
Nothing contained in this Contract shall be deemed to constitute any Party the partner of any of the other Party, or to constitute any
Party the agent or legal representative of the other Party or to create any fiduciary relationship between them. The Parties do not intend
to create, nor shall this Contract be construed to create, any mining, commercial or other partnership. No Party shall have any authority
to act for or to assume any obligation or responsibility on behalf of the other Party, except as otherwise expressly provided herein.

 

2.5           Governmental
Authorities. During the Option Period, Option Holder and its Affiliates and its or their respective Representatives shall not engage
in any formal discussions with Governmental Authorities regarding the Transfer of the Donation Agreement or Exploration or Mining Operations
on the Donation Assets without providing at least two (2) Business Days’ prior written notice to Owner, which notice may be given
by email. Owner, its Affiliates and its and their respective Representatives, shall have the right, but not the obligation, to participate
in any such discussions. Option Holder may engage in informal discussions with Governmental Authorities and may receive unplanned inbound
telephone calls from Governmental Authorities without prior notice to Owner. Option Holder shall keep Owner reasonably informed of any
formal or informal discussions between Option Holder and Governmental Authorities relating to the Donation Agreement and the Donation
Assets in which Owner, its Affiliates and its and their respective Representatives do not participate.

 

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2.6           Financial
Statements. Beginning on the Effective Date and continuing through the Option Period, Option Holder shall deliver the Financial Statements
to Owner within 30 days after completion of each such Financial Statement. Option Holder may satisfy the delivery requirements of this
Section 2.6 by timely filing any such financial statements with the SEC.

 

2.7          Other Activities.
Except as expressly provided in this Contract, each of the Parties may be engaged on its own behalf and on behalf of Persons other than
the Parties in the general mining business and each of the Parties hereby consents to such involvement by the other without consulting
the other Party or inviting or allowing the other Party to participate. Except as expressly provided in this Contract, the legal doctrine
of “corporate opportunity” sometimes applied to persons occupying a fiduciary status shall not apply in the case of any endeavor
of any Party.

 

 3.             Exercise of Option.

 

3.1           Notice
of Exercise. If Option Holder elects to exercise the Option:

 

3.1.1       Option Holder
shall deliver to Owner the Option Exercise Notice any time during the Option Period; and

 

3.1.2       Owner and
Option Holder shall execute the Purchase Agreement within ten (10) days after the date of delivery of the Option Exercise Notice; provided
that Owner’s failure to timely execute the Purchase Agreement shall not vitiate Option Holder’s exercise of the Option by
delivering the Option Exercise Notice in accordance with Section 3.1.1.

 

3.2           Closing.
The Closing shall occur on the Closing Date. At the Closing:

 

3.2.1        Each of the Parties
will execute and deliver the Closing Documents to which it is a party, together with any other documents or instruments required for the
Closing; and

 

3.2.2       Option Holder shall
issue to Owner or its designee 3,000,000 Dakota Shares (the “Purchase Shares”), which Purchase Shares shall be (a)
registered in the name of Owner or its designee in book-entry form by the Option Holder’s transfer agent and (b) bear a customary
restrictive legend reflecting the issuance of the Purchase Shares in a transaction exempt from registration under the Securities Act.
Owner shall promptly provide to Option Holder and its transfer agent such documentation reasonably requested by them in connection with
the delivery of the Purchase Shares to Owner.

 

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 4.             Option Holder’s Access Rights to Property and Data During Option Period.

 

4.1 Option Holder’s Access Rights to Property.

 

4.1.1       Access
to the Property. Subject to Section 4.1.2, Option Holder, at its cost, may access the Property during the Option Period in order
to conduct Exploration; provided that Option Holder shall not conduct any Exploration within the Restricted Areas without the
express written consent of Owner, such consent not to be withheld unreasonably. Any Exploration shall be conducted pursuant to an exploration
plan approved by Owner, acting reasonably (the “Exploration Plan”), and in accordance with all applicable Environmental
Laws. Option Holder, at its cost, shall be responsible to obtain all Permits and third-party consents, including consents from third
parties who or which hold rights in property other than the Property, required to conduct Exploration, including the owner of the Donation
Assets. Option Holder shall be responsible for all reclamation and remediation associated with Exploration. Owner and its Affiliates,
and its and their respective Representatives, shall have the right, but not the obligation, to review the Exploration undertaken by Option
Holder, to verify that such Exploration is being conducted according to the Exploration Plan and applicable Environmental Laws, and that
no Exploration is conducted in the Restricted Areas. Option Holder shall be responsible and liable for all Exploration. In addition,
Option Holder shall have the right, but not the obligation, to conduct reviews of zoning, building code and other applicable ordinances
to determine whether the Property is in compliance.

 

4.1.2       Limitations.
Neither Option Holder nor its Affiliates shall conduct any Mining Operations on the Property or the Donation Assets.

 

4.1.3       Indemnification
of Owner. Option Holder shall indemnify, defend and save harmless Owner and its Affiliates and its and their respective Representatives,
with counsel of their choosing, from and against any and all claims, debts, demands, suits, actions and causes of action whatsoever which
may be brought or made against one or more of them by any Person and all loss, cost, damages, expenses and liabilities (including Attorneys’
Fees) which may be suffered or incurred by them arising out of or in connection with or in any way referable to, whether directly or
indirectly, any access to the Property by Option Holder and its Affiliates and its and their respective Representatives, including, without
limitation, bodily injuries or death at any time resulting therefrom or damage to Property.

 

4.1.4       Compliance
with Laws and Policies. In exercising its rights under Sections 4.1.1 and 4.1.2, Option Holder shall comply with all applicable Governmental
Requirements and shall carry out its activities in accordance with Mining Industry Best Practices and the environmental, health and safety
policies of Owner. Option Holder, at its cost and expense, shall be responsible for obtaining all Permits and bonding required to conduct
its activities pursuant to Sections 4.1.1 and 4.1.2. Owner shall reasonably cooperate with Option Holder, at the expense of Option Holder,
in obtaining any Permits or other permissions that are required for Option Holder to conduct its activities on the Property pursuant
to Sections 4.1.1 and 4.1.2.

 

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4.2           Option Holder
Rights to Data.

 

4.2.1       Access
to Data. During the Option Period, Owner shall provide to Option Holder reasonable access to all of the Data that Owner owns or controls
for Option Holder’s review. Any such review shall be during normal operating hours of Owner and upon not less than two (2) Business
Days’ prior notice, which may be given by email. If Option Holder exercises the Option, then on the Closing Date, Owner shall Transfer,
at Option Holder’s cost and expense, all of its rights, title and interest in and to the Data to Option Holder, subject to Sections
4.2.4 and 4.2.5.

 

4.2.2        Access to Todd
Duex. During the Option Period, Owner hereby waives any confidentiality obligations between Owner and Mr. Todd Duex, to the extent
Option Holder desires to obtain information from Mr. Duex regarding the Property; provided that Owner shall not be responsible
or liable for any information provided to Option Holder by Mr. Duex, or any actions taken by Option Holder or its Affiliates based on
information provided by Mr. Duex.

 

4.2.3        Access
to Jeff Burich. During the Option Period, Owner will make Jeff Burich reasonably available to Option Holder during normal
operating hours in order to discuss factual matters regarding the Property; provided that (a) such discussions will not
unreasonably interfere with the normal business activities of Mr. Burich for or on behalf of Owner and its Affiliates, (b) Owner
shall not be responsible or liable for any actions taken by Option Holder or its Affiliates based on information provided by Mr.
Burich; (c) Option Holder hereby releases Mr. Burich from any liability with respect to any information provided by Mr. Burich to
Option Holder or its Affiliates or its or their respective Representatives related to the Property; and (d) any information provided
by Mr. Burich to Option Holder or its Affiliates or its or their respective Representatives in no way shall be attributed to
Knowledge of Owner.

 

4.2.4       Privilege.
All communications and other documents exchanged between Owner or its Affiliates and legal counsel (including, as applicable, internal
legal counsel) providing legal advice to Owner and its Affiliates, including documents and communications relating to the this Contract,
the Related Agreements and the Property, and files maintained by legal counsel as a result of providing legal advice to Owner or its
Affiliates (the “Privileged Documents”), that are subject to attorney-client privilege, any similar privilege, or
that constitute attorney work product (as applicable, a “Privilege”), specifically are excluded from the Data and
shall be and remain the property of Owner its Affiliates, as applicable. Neither Owner nor its Affiliates intend to waive any applicable
Privilege, and any disclosure of any Privileged Documents, whether in the Data or otherwise, shall be deemed to be inadvertent. Accordingly,
Option Holder, on its behalf and on behalf of its Affiliates and its and their respective Representatives acknowledges and agrees that
a disclosure of any Privileged Documents will not constitute a waiver of such Privilege, and the Person receiving any such Privileged
Documents shall, promptly upon request or becoming aware that such documents are Privileged Documents, return to Owner, or with the consent
of Owner, destroy, such Privileged Documents.

 

4.2.5       Disclaimer
of Warranties of Data. All Data provided to, or made available to Option Holder under this Contract or prior to the Effective
Date, is provided without representation or warranty and is at the sole risk of Option Holder. Such information is provided
 “AS IS, WHERE IS” AND WITH ALL FAULTS, AND OWNER AND ITS AFFILIATES EXPRESSLY DISCLAIM THE ACCURACY OR COMPLETENESS OF
ALL DATA, AND ALL EXPRESS OR IMPLIED WARRANTIES CONCERNING THE SAME, AND EXPRESSLY EXCLUDING ANY WARRANTIES OF MERCHANTABILITY OR
FITNESS FOR ANY PARTICULAR PURPOSE.

 

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5.             Maintenance
of Property; Title.

 

5.1           Maintenance
of the Property. Owner shall make all payments of Taxes, royalties, land-holding costs, claim maintenance and similar fees, lease
payments and other payments that become due during the Option Period and that are required for Owner to maintain its interest in the Property.

 

5.2           No Encumbrances.
During the Option Period, Owner shall not lease, pledge as collateral or security, mortgage or encumber or cause or allow any Encumbrance
created by, through or under Owner to be placed against the Property, or grant any other right in or to the Property, except as expressly
provided in this Contract, except for Permitted Encumbrances.

 

6.             Owner’s
Representations.

 

6.1           Representations
and Warranties. Owner hereby represents and warrants to Option Holder as of each of the Effective Date and the Option Exercise Date
as follows:

 

6.1.1        Incorporation
and Qualification. Owner is a corporation incorporated and in good standing under the laws of California and has the corporate power
to enter into and perform its obligations under this Contract, the Purchase Agreement and the Related Agreements to which Owner is a party;

 

6.1.2       Corporate Authority.
The execution and delivery of and performance by Owner of this Contract, the Purchase Agreement and the Related Agreements to which Owner
is a party and the Transfer of the Property by Owner to the Option Holder have been authorized by all necessary corporate action on the
part of Owner;

 

6.1.3       No
Violation or Breach. The execution and delivery of and performance by Owner of this Contract, the Purchase Agreement and the Related
Agreements to which it is a party:

 

(a)       does not conflict
with the articles of incorporation or bylaws of Owner;

 

(b)       does not violate
in any material respect any law applicable to Owner or the Property; and

 

(c)       does not (or
would not with the giving of notice or the lapse of time) result in a material breach or material violation of or a conflict in any material
way with, or allow any other person or entity to exercise any rights under any contracts or instruments directly related to the Property
to which Owner is a party;

 

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6.1.4       Execution
and Binding Obligation. This Contract and, when executed, the Purchase Agreement and each of the Related Agreements to which Owner
is a party has been duly executed and delivered by Owner and constitutes a legal, valid and binding agreement of Owner enforceable against
Owner in accordance with its terms, subject only to any limitation under applicable laws relating to (i) bankruptcy, winding-up, insolvency,
arrangement and other laws of general application affecting the enforcement of creditors’ rights, and (ii) the discretion that
a court may exercise in the granting of equitable remedies;

 

6.1.5       Filings,
Consents and Approvals. To the Knowledge of Owner, Owner is not required to obtain any consent, waiver, authorization or order of,
give any notice to, or make any filing or registration with, any court or other Governmental Authority or other Person in connection
with the execution, delivery and performance by Owner of this Contract or any of the Related Agreements to which it is a party, other
than (a) filings required by state or federal securities laws (including the Securities Act), if applicable, (b) those that have been
made or obtained prior to the date of this Contract, (c) approvals for the assignment of the Donation Agreement, (d) the recording of
the Memorandum of Option and the Quitclaim Deed; and (e) approvals for the Transfer of any Permits.

 

6.1.6       Title
to Property. Owner (a) owns or has valid rights to the Property, free and clear of any and all Encumbrances, except for Permitted
Encumbrances; (b) other than the rights of Option Holder pursuant to this Contract, there are no outstanding options, rights of first
offer or first negotiation or rights of first refusal in favor of any other party to acquire an interest in the Property; and (c) has
not received written notice of, and to the Knowledge of Owner, there is no, pending or threatened condemnation proceeding or proposed
action or agreement for taking in lieu of condemnation with respect to any portion of the Property.

 

6.1.7       No
Action. Owner has not received notice of any, and to the Knowledge of Owner, there are no pending or threatened actions, claims,
counterclaims, suits, governmental investigations or inquiries, or other proceedings (each, a “Proceeding”), which
would prevent the consummation of the transactions contemplated by this Contract, nor any Proceeding or Claim (as defined in the Purchase
Agreement) related to, or that would otherwise materially adversely affect, the Property, including, without limitation, the title or
environmental status of the Property.

 

6.1.8       Option
Shares. Owner is an institutional “accredited investor” within the meaning of Rule 501(a)(1), (2), (3) or (7) under
the Securities Act and it is acquiring the Option Shares for its own account and not with a view to the distribution thereof. Owner
understands that the Option Shares have not been and will not be registered under the Securities Act, will bear a restrictive
legend, and may be resold only if registered pursuant to the provisions of the Securities Act or if an exemption from registration
is available. Owner further represents and warrants that it will not Transfer any Option Shares or any interest therein except in a
transaction exempt from or not subject to the registration requirements of the Securities Act. Owner represents that (i) it has such
knowledge, sophistication and experience in business and financial matters that it is capable of evaluating the merits and risks of
the acquisition of the Dakota Shares and (ii) it has been granted the opportunity to ask questions of, and receive satisfactory
answers from, representatives of Option Holder concerning the business affairs and financial condition of Option Holder and its
subsidiaries, and has had the opportunity to obtain and has obtained any additional information which it deems necessary regarding
such purchase, and that Option Holder is not required to register the Option Shares.

 

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6.2           Disclaimer.

 

6.2.1       Option Holder hereby
acknowledges and agrees that the transactions contemplated by this Contract and the Related Agreements are being completed on an “as
is, where is” and “with all faults” basis. Except as expressly set forth herein, neither Owner or its Affiliates nor
its or their respective or Representatives, or any other Person, has made or makes any other express or implied representation or warranty,
either written or oral, on behalf of Owner, including any representation or warranty as to the accuracy or completeness of any Data or
other information furnished or made available to any other Option Holder and its Affiliates and its and their respective Representatives
(including any projections, information, documents or material made available in the Data, management presentations or other communications
with management, or in any other form in expectation of the transactions contemplated in this Contract or the Related Agreements), the
sufficiency, merchantability or fitness for any particular purpose of the Property or any Permits held by Owner related to the Property,
compliance with applicable Governmental Requirements, or as to the future revenue, profitability or success arising from the transactions
contemplated in this Contract or the Related Agreements, or any representation or warranty arising from statute or otherwise at law or
in equity, all of which are hereby expressly disclaimed.

 

6.2.2       WITHOUT LIMITING THE
FOREGOING, OWNER MAKES NO REPRESENTATIONS OR WARRANTIES WHATSOEVER CONCERNING THE EXISTENCE OR STATUS OF ANY MINES OR WORKINGS WITHIN
THE AREA COVERED BY THE PROPERTY, INCLUDING THE EXISTENCE AND STATUS OF ANY ABANDONED MINES OR WORKINGS, THE STATUS OF ANY ROYALTIES OR
THE EXISTENCE OR STATUS OF ANY UNRECORDED RIGHTS TO ANY ROYALTIES, THE EXISTENCE, NATURE, LOCATION, AMOUNT OR VALUE OF ANY MINERALIZATION,
MINERAL RESERVES OR RESOURCES, THE ABILITY TO EXTRACT, PROCESS, OR SELL MINERALS BY ANY MEANS, WHETHER ANY NECESSARY PERMITS CAN BE OBTAINED
IN A TIMELY MANNER OR AT ALL, WHETHER ANY MINING CAN BE DONE ECONOMICALLY OR AT ALL, OR THAT THERE WILL BE NO THIRD PARTY CHALLENGE TO
THE ISSUANCE OF ANY REQUIRED PERMIT OR ENVIRONMENTAL IMPACT STATEMENT REQUIRED FOR OPERATIONS WITH RESPECT TO THE PROPERTIES, OR THAT
THERE ARE NO RIGHTS (INCLUDING ROYALTIES, ACCESS RIGHTS, INFORMATION RIGHTS, RECONVEYANCE RIGHTS, REVERSIONARY RIGHTS OR OTHER RIGHTS
OF PREDECESSORS IN INTEREST) RFELATED TO THE PROPERTY.

 

7.             Option Holder’s
Representations.

 

7.1          Representations
and Warranties. Option Holder hereby represents and warrants to Owner as of the each of Effective Date and the Option Exercise Date
as follows:

 

7.1.1       Incorporation
and Qualification. Option Holder is a corporation incorporated and in good standing under the laws of the State of Nevada and
has the corporate power to enter into and perform its obligations under this Contract, the Purchase Agreement and the Related
Agreements to which Option Holder is a party.

 

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7.1.2       Corporate
Authority. The execution and delivery of and performance by Option Holder of this Contract, the Purchase Agreement and each of the
Related Agreements to which Option Holder is a party, the Transfer of the Property from Owner to Option Holder have been authorized by
all necessary corporate action on the part of Option Holder.

 

7.1.3       No
Violation or Breach. The execution and delivery of and performance by Option Holder of this Contract, the Purchase Agreement and
the Related Agreements to which it is a party:

 

(a)       does
not conflict with the articles of incorporation or bylaws of Option Holder;

 

(b)       does
not violate in any material respect any law applicable to Option Holder; and

 

(c)       
does not (or would not with the giving of notice or the lapse of time) result in a material breach or material violation of or a conflict
in any material way with, or allow any other person or entity to exercise any rights under any contracts or instruments to which Option
Holder is a party.

 

7.1.4       Execution
and Binding Obligation. This Contract, the Purchase Agreement and each of the Related Agreements to which Option Holder is a party
has been duly executed and delivered by Option Holder and constitutes a legal, valid and binding agreement of Option Holder enforceable
against it in accordance with its terms subject only to any limitation under applicable laws relating to (i) bankruptcy, winding-up, insolvency,
arrangement and other laws of general application affecting the enforcement of creditors’ rights, and (ii) the discretion that a
court may exercise in the granting of equitable remedies.

 

7.1.5       Capitalization.

 

(a)       The authorized capital
of Option Holder consists of 75,000,000 shares of common stock and 10,000,000 shares of preferred stock, of which 69,428,204 shares of
common stock no shares of preferred stock, and derivative securities to purchase up to 3,946,250 shares of common stock are issued and
outstanding as of August 31, 2021; and

 

(b)       On a fully diluted
basis, Option Holder has a sufficient number of authorized shares of common stock to issue the Dakota Shares without exceeding the number
of shares authorized under Option Holder’s articles of incorporation.

 

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7.1.6       Filings,
Consents and Approvals.

 

(a)       Option
Holder is not required to obtain any consent, waiver, authorization or order of, give any notice to, or make any filing or
registration with, any court or other Governmental Authority or other Person in connection with the execution, delivery and
performance by Option Holder of this Contract, the Purchase Agreement or any of the Related Agreements to which it is a party, other
than (i) filings required by state or federal securities laws (including the Securities Act), if applicable, and (ii) those that
have been made or obtained prior to the date of this Contract; and

 

(b)       During the last 12
months, Option Holder has filed in a timely manner all disclosures, reports and other filings required to be filed by it under applicable
securities laws (the “Securities Filings”) in all jurisdictions in which such Securities Filings are required to be filed
and with all securities exchanges where the Purchaser’s securities are traded, and all such Securities Filings are true and accurate
in all material respects.

 

7.1.7       Issuance of the
Option Shares. The issuance of the Option Shares has been duly authorized and, when issued, the Option Shares will be duly and validly
issued, fully paid and nonassessable, free and clear of all Encumbrances.

 

7.1.8       Independent
Review.

 

(a)         Option Holder and its
direct and indirect Affiliates, and its and their respective Representatives, have had sufficient access to and opportunity to review
the Property and Data and to ask questions of the management representatives and professional advisors of Owner, as necessary for Option
Holder to investigate, analyze, and evaluate the Property and Data and to make its and their independent decision to acquire the Property
and to consummate the transactions contemplated by this Contract, the Purchase Agreement and the Related Agreements to which Option Holder
is a party.

 

(b)        In making the decision
to enter into this Contract, the Purchase Agreement and the Related Agreements to which Option Holder is a party, and to consummate the
transactions contemplated herein and therein, Option Holder has conducted its own independent investigation, analysis, and evaluation
of the Property and Data (including Option Holder’s own estimate and appraisal of the extent, location and value of mineralization,
mineral resources and reserves, undeveloped properties, and environmental obligations), and the financial condition of, operations, and
prospects for, the Property.

 

8.             Termination
and Effect of Termination.

 

8.1           Termination Events.
This Contract may be terminated upon the occurrence of any one or more of the following events (each, a “Termination Event”):

 

8.1.1       By
Option Holder upon giving thirty (30) days written notice to Owner;

 

 8.1.2        By mutual written agreement of Owner and Option Holder;

 

8.1.3        In the event that
Option Holder fails to exercise the Option by delivery of an Option Exercise Note during the Option Period;

 

8.1.4        In the event that Option Holder
fails to execute the Purchase Agreement in accordance with Section 3.1.2;

 

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8.1.5       By Owner upon the
failure of Option Holder to make any Additional Option Cash Payment on or before the applicable Additional Option Cash Payment Date to
the extent required by Section 2.2.2 and such failure is not cured within five (5) Business Days after Option Holder’s receipt of
notice of such failure;

 

8.1.6       By Owner in
the event Option Holder conducts Exploration in violation of the Exploration Plan or conducts Exploration in the Restricted Areas without
the consent of Owner;

 

8.1.7       By Owner, in the event
Option Holder files for bankruptcy, becomes insolvent or undergoes material restructuring event, including a change in the majority of
the board of directors of Option Holder or a change in the majority of the executive management of Option Holder that would require a
filing by Option Holder of a Form 8-K with the SEC (each, a “Material Adverse Event”), and Owner determines, acting
reasonably, that Option Holder is unable to exercise the Option and conduct Mining Operations on the Property as a result of such Material
Adverse Event;

 

8.1.8       Except as allowed
in Section 4.1.1, Option Holder conducts or has conducted on its behalf Mining Operations on the Property without the written consent
of Owner and any other Person who or which has rights to the Property or the minerals appurtenant to the Property (including, without
limitation, any rights with regard to the Donation Assets or under the Donation Agreement);

 

8.1.9       In the event Owner
consents to the conduct of Mining Operations on the Property, Option Holder materially fails to conduct, or have conducted, such Mining
Operations in accordance with Mining Industry Best Practices; or

 

8.1.10     In the event
the Purchase Agreement is not executed in accordance with Section 3.1.2, or the Purchase Agreement is terminated by either Party in accordance
with the terms thereof.

 

8.2           Effect
of Termination. Upon a Termination Event:

 

 8.2.1       this Contract automatically shall terminate;

 

8.2.2       Upon Owner’s request, Option Holder shall deliver to Owner all information and data developed by or on behalf of Option Holder
related to the Property;

 

8.2.3       Owner shall have the
right to release the Memorandum of Option, and Option Holder shall cooperate with Owner in the preparation and recordation of any document
or instrument releasing the Memorandum of Option; and

 

8.2.4       Option Holder
shall not contact any Governmental Authorities regarding the Donation Agreement or the Donation Assets.

 

8.3          Survival.
Upon the expiration or termination of this Contract, the provisions of this Contract that, by their terms are intended to survive
the expiration or termination of this Contract shall so survive including, without limitation, Sections 1, 2.4, 4.1.3, 4.2.2, 4.2.3,
4.2.4, 4.2.5, 6.2, 7.1.8, 8.2 and 10.

 

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9.             Notices. Any notice,
request, demand, instruction or other communication to be given to either Party hereunder, except where required to be delivered at the
Closing, shall be in writing and shall either be (a) hand-delivered, (b) sent by Federal Express or a comparable overnight mail service,
or (c) mailed by U.S. registered or certified mail, return receipt requested, postage prepaid, or (d) sent by electronic mail or other
electronic means, to Option Holder, Owner, Option Holder’s Attorney and Owner’s Attorney, at their respective addresses set
forth in Section 1 of this Contract. Notice shall be deemed to have been given upon receipt or refusal of delivery of said notice. The
addressees and addresses for the purpose of this paragraph may be changed by giving notice. Unless and until such written notice is received,
the last addressee and address stated herein shall be deemed to continue in effect for all purposes hereunder.

 

10.           Miscellaneous.

 

10.1        Section and
Paragraph Headings. The section and paragraph headings herein contained are for the purposes of identification only and shall not
be considered in construing this Contract.

 

10.2         Amendment. No modification
or amendment of this Contract shall be of any force or effect unless in writing executed by both Owner and Option Holder.

 

10.3        Attorneys’
Fees. If any Party obtains a judgment against any other Party by reason of breach of this Contract, Attorneys’ Fees and costs
shall be included in such judgment.

 

10.4         Governing
Law.

 

10.4.1                  This Contract
and all the documents delivered in connection with this Contract shall be construed and enforced in accordance with the laws of the State
of South Dakota, without regard to any conflicts of law provisions that may otherwise require the application of the law of any other
jurisdiction.

 

10.4.2                  Any Proceeding arising
out of or based upon this Contract or the interpretation thereof may be instituted in the state courts of South Dakota or the federal
courts of the United States, in each case located in Rapid City, South Dakota, and each Party irrevocably submits to the exclusive jurisdiction
of such courts in any such Proceeding. Service of process, summons, notice or other document by mail to such Party’s address set
forth herein shall be effective service of process for any Proceeding brought in any such court. The Parties irrevocably and unconditionally
waive any objection to the laying of venue of any Proceeding in such courts and irrevocably waive and agree not to plead or claim in
any such court that any such Proceeding brought in any such court has been brought in an inconvenient forum.

 

10.5         Entire Contract.
This Contract sets forth the entire agreement between Owner and Option Holder relating to the Property and all subject matter herein and
supersedes all prior and contemporaneous negotiations, understandings and agreements, written or oral, between the Parties.

 

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10.6         Time of the Essence. Time is of the
essence in the performance of all obligations by Option Holder and Owner under this Contract.

 

10.7        Computation of Time. Any
reference herein to time periods of less than six (6) days shall exclude Saturdays, Sundays and legal holidays in the computation
thereof. Any time period provided for in this Contract which ends on a Saturday, Sunday or legal holiday shall extend to 5:00 p.m.
on the next full Business Day.

 

10.8         Successors
and Assigns; Assignment. This Contract shall inure to the benefit of and be binding upon the permitted successors and assigns of
the Parties. Option Holder may only assign this Contract upon Owner’s written consent, which Owner shall exercise in its sole
discretion; provided, however, that Option Holder shall have the right to assign this Contract, upon notice to, but without the
written consent of, Owner, to an Affiliate of Owner. If Option Holder assigns this Contract to such an Affiliate or with
Owner’s consent, any assignee of Option Holder shall be able and obligated to Close under this Contract in the same manner as
Option Holder and the originally named Option Holder shall not be released from any of the obligations of “Option
Holder” under this Contract. In the event Option Holder assigns this Contract to an Affiliate of Option Holder or with the
consent of Owner, a duly executed assignment of this Contract shall be delivered to Owner at or prior to the Closing Date, as well
as entity documentation as may be reasonably requested by Owner.

 

10.9        Construction
of Contract. All of the Parties to this Contract have participated freely in the negotiation and preparation hereof; accordingly,
this Contract shall not be more strictly construed against any one of the Parties.

 

10.10      Gender.
As used in this Contract, the masculine shall include the feminine and neuter, the singular shall include the plural and the plural shall
include the singular as the context may require.

 

10.11      Counterparts;
Electronic Execution. This Contract may be executed in any number of counterparts and delivered via electronic mail or otherwise,
each of which when executed and delivered shall be deemed an original, but all of which together shall constitute one and the same instrument.

 

10.12      Further
Assurances. The Parties each agree to do such other and further acts and things, and to execute and deliver such instruments and documents
(not creating any obligations additional to those otherwise imposed by this Contract) as either may reasonably request from time to time,
whether at or after the Closing, in furtherance of the purposes of this Contract. In addition, in the event Owner becomes aware that any
representation, warranty or covenant of Owner set forth in this Contract will not be true and correct in any material respect on the Closing
Date, then Owner shall give prompt written notice thereof to Purchaser, which notice shall include all appropriate information related
thereto that is in Owner’s possession or control.

 

10.13       Closing Documents/Deliverables.
To the extent any of the Closing Documents are not attached hereto or to the Purchase Agreement at the time of this Contract, Option Holder
and Owner shall negotiate in good faith with respect to the form and content of such Closing Documents prior to Closing.

 

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10.14       Brokers. Each
Party hereto represents and warrants to the other that that it has not had, and shall not have, any dealings with (and it has not engaged
and will not engage) any third party to whom the payment of any broker’s fee, finder’s fee, commission or other similar compensation
shall or may become due or payable in connection with the transactions contemplated hereby. It is agreed that if any claims for brokerage
commissions or fees are ever made against Owner or Option Holder, all such claims shall be handled and paid by the Party whose actions
or alleged commitments form the basis of such claim. Each Party shall indemnify, defend and hold the other Party harmless from any and
all claims for commissions or fees by brokers made against the other Party, and resulting loss, cost (including reasonable Attorneys’
Fees) and damages, which claim shall have arisen out of any written document or alleged oral agreement entered or purported to have been
entered into by the indemnifying Party and the person claiming such commission, with respect to the transaction contemplated by this Contract.

 

10.15       Confidentiality.

 

10.15.1                Except for
such information as is contained in the Memorandum of Option and related transfer Tax returns, neither Party shall use (other than in
the performance of its obligations under this Contract) or disclose (and each Party shall cause its Affiliates, and its and their respective
Representatives (the “Confidentiality Parties”) not to so use or disclose) and each Party shall (and shall cause the
Confidentiality Parties to) instruct each Party’s (and the Confidentiality Parties’) Representatives with knowledge of this
transaction not to so use or disclose any term or condition, of this Contract or any other identifying details with respect to the provisions
of this Contract (“Contract Matters”); however the Confidentiality Parties can confirm (i) that Owner has granted Option
Holder an option to purchase the Property, (ii) such details as are set forth in the Memorandum of Option and (iii) whether or not Option
Holder has exercised the option to purchase the Property as set forth in this Contract.

 

10.15.2                The
above notwithstanding, nothing contained herein shall restrict either Party’s ability to disclose (or restrict the
Confidentiality Parties to disclose) Contract Matters (i) to (A) either Party’s lenders or investors (or potential lenders or
investors) or their respective successors and assigns, (B) any rating agencies, (C) any potential purchasers of Option Holder's
interest in this Contract, (D) securities regulators in accordance with applicable securities laws or (E) any attorneys, accountants
and other professionals of the Persons listed in (A) through (D) above with a need to know such information to perform their duties
that either Party retains such professionals for, provided that such recipients are advised of the confidentiality of such
information, (ii) in connection with any arbitration or potential litigation between the Parties under this Contract, or (iii) that
are or become known to the general public under circumstances involving no breach by such Party or others of the terms of this
Section 10.14. Further, either Party may disclose Contract Matters as required by any Governmental Requirement or by a court of
competent jurisdiction or any other Governmental Authority issuing a subpoena to such Party; provided that such Party (A) gives the
other Party prior written notice sufficient to allow the other Party to seek a protective order or other appropriate remedy and (B)
discloses only such information as is required by any Governmental Authority.

 

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10.15.3               
Notwithstanding anything to the contrary in this Section 10.14, Owner and Option Holder shall jointly issue the first press release regarding
the purchase of the Property by Option Holder (or its designee) on the Closing Date. Following such press release pursuant to the
foregoing sentence, Owner may not issue a subsequent press release or other public communication regarding this Contract without first
obtaining Option Holder’s consent, which consent shall not be unreasonably withheld or delayed. With respect to this Contract,
any mention of Option Holder other than merely identifying such Party as the Option Holder of the Property after the Closing Date in
any press release or public communication by Owner shall require Option Holder's prior written consent.

 

10.16       Waiver of Jury Trial. EACH PARTY HEREBY KNOWINGLY, VOLUNTARILY, UNCONDITIONALLY AND INTENTIONALLY FOREVER WAIVES THE RIGHT TO
A TRIAL BY JURY IN RESPECT OF ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER ARISING AT LAW, AT EQUITY, IN TORT OR CONTRACT) BROUGHT
BY ANY PARTY AGAINST SUCH PARTY ON ANY MATTER ARISING OUT OF OR IN ANY WAY CONNECTED WITH THIS CONTRACT. THE PROVISIONS OF THIS SECTION
10.15 SHALL SURVIVE THE TERMINATION HEREOF.

 

[SIGNATURE PAGE TO FOLLOW]

 

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IN WITNESS WHEREOF,
the Parties have executed this Contract as of the Effective Date.

 

	 	OWNER
	 	 
	 	HOMESTAKE MINING COMPANY OF CALIFORNIA, a California corporation
	 	 
	 	By:	“Patrick Malone”

	 	Name:	 Patrick Malone
	 	Title:	President

 

	 	OPTION HOLDER
	 	 
	 	DAKOTA TERRITORY RESOURCE CORP., a
    Nevada corporation
	 	 
	 	By:	“Jonathan Awde”

	 	Name:	Jonathan Awde
	 	Title:	 President and Chief Executive Officer

 

     

     

    

 

EXHIBIT A

 

PURCHASE AGREEMENT

 

Attached

 

     

     

    

 

 

ASSET PURCHASE AGREEMENT

 

THIS ASSET PURCHASE AGREEMENT
(together with any schedules or exhibits attached hereto, the “Agreement”) is made and entered into as of this ____
day of _________ 20__ (the “Effective Date”), by and between Homestake Mining Company of California, a California corporation
(the “Seller”), and Dakota Territory Resource Corp., a Nevada corporation (the “Purchaser”). The
Seller and the Purchaser sometimes may be referred to in this Agreement individually as a “Party,” and collectively
as the “Parties.”

 

RECITALS

 

A.           The Seller owns or has
rights to certain patented mining claims set forth in Exhibit A attached to this Agreement (the “Mining Property”)
and certain Data related to the Mining Property, the Property Donation Agreement and the Donation Assets (collectively, the “Purchased
Assets”).

 

B.        The State of South Dakota and The South Dakota Science and Technology Authority (collectively, the “South Dakota Governmental
Authorities”) and the Seller entered into the Property Donation Agreement (defined below).

 

C.            The Parties entered into an Option Agreement for Purchase and Sale of Real Property dated September 7, 2021 (the “Option Agreement”),
the Seller granted to the Purchaser the exclusive option to purchase the Purchased Assets and assume the Assumed Liabilities.

 

D.            On _______,
the Purchaser exercised its Option (as defined in the Option Agreement) pursuant to the Option Agreement for the purchase of the
Purchased Assets and the assumption of the Assumed Liabilities.

 

E.            As a result of
the exercise of the Option, the Purchaser wishes to purchase the Purchased Assets and to assume the Assumed Liabilities from the Seller,
and the Seller is willing to sell the Purchased Assets and Transfer the Assumed Liabilities to the Purchaser, all in accordance with the
provisions of this Agreement.

 

D.           The Seller wishes
to sell, and the Purchaser wishes to purchase, the Purchased Assets, and the Seller wishes to assign, and the Purchaser wishes to assume,
the rights and obligations of the Seller under the Property Donation Agreement, subject to the consent of the South Dakota Governmental
Authorities.

 

E.         On the terms and subject
to the conditions set forth in this Agreement, the Seller desires to sell and transfer to the Purchaser, and the Purchaser desires to
purchase from the Seller, the Purchased Assets, and to assume and discharge the Assumed Liabilities.

 

    

    

    

 

AGREEMENT

 

NOW, THEREFORE,
in consideration of the above and for other good and valuable consideration, the receipt and sufficiency of which hereby are acknowledged,
and intending to be legally bound hereby, the Parties agree as follows:

 

1.           Definitions and Rules
of Construction.

 

(a) Certain Defined Terms.
The following terms when used in this Agreement shall have the following meanings:

 

“Affiliate”
means, with respect to any Person, any other Person that directly or indirectly, through one of more intermediaries, controls, is controlled
by, or is under common control with, such Person. For purposes of this definition, “control” means the possession, directly
or indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership
of voting securities, by contract, or otherwise.

 

“Agreement” has the meaning set forth
in the Preamble.

 

“Assignment and Assumption” means the
Assignment and Assumption in the form of

Exhibit B.

 

“Assumed
Liabilities” means all of the known and unknown damages, costs, expenses, responsibilities, Losses, Claims and other liabilities
of any nature whatsoever now existing or hereafter arising out of, relating to, or resulting from, in any manner, the ownership, legal
or beneficial right to, operation, maintenance, preservation, use, exploration or exploitation (including extraction), reclamation and
closure of the Purchased Assets, the Property Donation Agreement and the Donation Assets, whether arising before, on or after the Effective
Date.

 

“Bill of Sale” means the Bill of Sale
in the form of Exhibit C.

 

“Board of Directors” means the board of
directors of Purchaser.

 

“Business
Day” means any day that the banks in New York City, New York and Toronto, Ontario, Canada are open for business, excluding Saturdays
and Sundays.

 

“Claim”
means any action, arbitration, cause of action, claim, counterclaim, demand, dispute, hearing, grievance, mediation, injunction, investigation,
obligation, stay, suit or other Proceeding.

 

“Closing” has the meaning set forth in
Section 4.

 

“Closing Date” has the meaning set forth
in Section 4.

 

“Consideration” has the meaning set forth
in Section 3.

 

“Consideration Shares” has the meaning
set forth in Section 3(a).

 

“Dakota
Shares” means shares of common stock, par value $0.001 per share, of the Purchaser.

 

    2

    

    

 

“Data”
means all data, documentation and information which Seller possesses relating to the Mining Property, the Property Donation
Agreement and the Donation Assets, including, by way of illustration and not by limitation: (a) all geological, geochemical and
geophysical maps, reports, surveys and tests; (b) deeds, mortgages, ALTA or boundary surveys, licenses, title insurance reports and
policies, or equivalent documentation, if any; (c) all drill hole maps, drill logs, drill core, drill cuttings, chip trays, and
other samples taken from the Property and the Donation Assets; (d) all engineering and metallurgical reports, studies and tests; (e)
all sample and assay logs, maps, reports and tests; (f) all mineral resource and ore reserve calculations, estimates, reports,
studies and tests; (g) all anthropological, biological, cultural, hydrologic, environmental, meteorological, and other like reports,
studies, surveys and tests; and (h) all other data relating to the Property and the Donation Assets, in each case, including any
such data, documentation or information in digital, electronic, magnetic, optical and written format, all of which is unverified,
but, in each case, excluding Privileged Documents.

 

“Deductible” has the meaning set forth
in Section 8(d)(ii).

 

“Defaulting Party” has the meaning set
forth in Section 11.

 

“De Minimis Amount” has the meaning set
forth in Section 8(d)(i).

 

“Designee” has the meaning set forth in
Section 3(a).

 

“Donation Assets” means “Assets,”
as defined in the Property Donation Agreement.

 

“Effective Date” has the meaning set forth
in the Preamble.

 

“Encumbrance”
means any lien, pledge, mortgage, indenture, option, royalty, deed of trust, rights granted under a streaming agreement or other alternative
financing agreement, security interest, charge, claim, reservation, easement, right-of-way, restriction, servitude, surface use agreement,
imperfection of title, right of first offer or first refusal or similar right, encroachment or other similar encumbrance or obligation
created in favor of a third party.

 

“Environmental
Laws” means all applicable Laws relating to the protection of human health and safety, the environmental or hazardous or toxic
substances or wastes, pollutants or contaminants.

 

“Governmental
Authority” means any federal, state, county, municipal or other governmental department, entity, authority, commission, board,
bureau, court, agency or any instrumentality of any of them.

 

“Indemnitee” has the meaning set forth
in Section 8(g).

 

“Indemnitor” has the meaning set forth
in Section 8(g).

 

“Knowledge
of Seller” means the actual knowledge of Jeff Burich, Patrick Malone and Michael McCarthy, without inquiry.

 

“Law”
means any law, enactment, statute, code, ordinance, rule, regulation, formal interpretation, judgment, decree, writ, injunction,
franchise, Permit, certificate, license, authorization, agreement, or other direction or requirement of any Governmental Authority
now existing or hereafter enacted, adopted, promulgated, entered, or issued applicable to Parties, the Mining Property, the
Donation Assets, the Property Donation Agreement or the Data.

 

    3

    

    

 

“Loss”
means, in respect of any matter, all Claims, demands, Proceedings, losses, damages, liabilities, deficiencies, fines, costs and expenses
(including reasonable legal and other professional fees and disbursements, interest, penalties and amounts paid in settlement (but excluding
punitive, exemplary, aggravated damages, lost opportunity damages and loss of profits), injuries and judgments arising directly or indirectly
as a consequence of such matter.

 

“Mining Property” has the meaning set
forth in Recital A.

 

“Non-Defaulting Party” has the meaning
set forth in Section 11.

 

“NSR” has the meaning set forth in Section
3(b).

 

“OFAC”
means the United States Department of the Treasury, Office of Foreign Assets Control

 

“Option Agreement” has the meaning set
forth in Recital C.

 

“Parties” has the meaning set forth in
the Preamble.

 

“Party” has the meaning set forth in the
Preamble.

 

“PATRIOT
Act” means the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism
Act of 2001, U.S. Public Law 107-56.

 

“Permit”
means any permit, license, approval, consent, ruling, authorization, certification, concession, exemption, variance, notification, waiver,
clearance or registration by or with any Governmental Authority.

 

“Permitted Encumbrance”
means: (a) Encumbrances for Taxes, assessments or other governmental charges not yet delinquent or the amount or validity of which is
being contested in good faith and diligently by appropriate proceedings; (b) Encumbrances of mechanics, carriers, workers, repairers,
warehousemen and similar Persons arising or incurred in the ordinary course of business in respect of liabilities that are not yet due
or if due and payable, but are unpaid, are being contested in good faith, and in respect of which adequate resources are maintained; (c)
matters of public record; (d) any conditions that reasonably would be expected to be shown by a current land survey or search or examination
of publicly available information or documents; (e) Environmental Laws; (f) Encumbrances that arise due to zoning, subdivision, entitlement,
and other Laws related to land use; (g) royalty interests of public record; (h) the paramount title of the United States; (i) pledges
made with respect to Seller Permits; (j) orders of any Governmental Authority; and (k) any Encumbrances set forth in this Agreement, the
Property Donation Agreement or the Related Agreements.

 

“Person”
means any natural or artificial legal entity whatsoever, including any individual, general partnership, limited partnership,
unincorporated association, sole proprietorship, corporation, limited liability company, trust, business trust, real estate
investment trust, joint venture, or Government Authority.

 

    4

    

    

 

“Privilege” has the meaning set forth
in Section 2(c)(i).

 

“Privileged Documents” has the meaning
set forth in Section 2(c)(i).

 

“Proceeding”
means any action, Claim, counterclaim, suit, governmental investigation or inquiry, or other proceeding.

 

“Property Donation Agreement” means the
Property Donation Agreement dated April 14, 2006, among the Seller and the South Dakota Governmental Authorities.

 

“Purchased Assets” has the meaning set
forth in Recital A.

 

“Purchaser” has the meaning set forth
in the Preamble.

 

“Purchaser Indemnitees” has the meaning
set forth in Section 8(c).

 

“Quitclaim Deed” means the Quitclaim Deed
in the form of Exhibit D.

 

“Related
Agreements” means the Assignment and Assumption, the Bill of Sale, the Quitclaim Deed and the Royalty Deed.

 

“Representative”
means, with respect to any Person, any and all directors, officers, members, managers, employees, consultants, financial advisors, counsel,
accountants and other agents of such Person.

 

“Royalty Deed” means the Royalty Deed
for the NSR in the form of Exhibit E.

 

“Sanctions” means sanctions
administered or enforced by OFAC, or other relevant sanctions authority.

 

“Securities Act” means
the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

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

 

“Seller” has the meaning set forth in
the Preamble.

 

“Seller Director” has the meaning set
forth in Section 2(d).

 

“Seller Indemnitees” has the meaning set
forth in Section 8(a).

 

“Seller Permits” means the
Permits held by the Seller or its Affiliates related to the Mining Property.

 

“South Dakota Governmental Authorities”
has the meaning set forth in Recital B.

 

    5

    

    

 

“Tax”
means all federal, state, local, foreign and other income, gross receipts, sales, use, severance, depletion, production, ad valorem, transfer,
franchise, registration, profits, license, lease, service, service use, withholding, payroll, employment, unemployment, estimated, excise,
severance, environmental, stamp, occupation, premium, property (real or personal), real property gains, windfall profits, customs, duties
or other taxes, fees, assessments or charges in the nature of a tax of any kind whatsoever, together with any interest, additions or penalties
with respect thereto and any interest in respect of such additions or penalties.

 

“Transfer”
means to, directly or indirectly, sell, transfer, assign, convey, dispose or otherwise grant a right, title or interest (including a joint
venture interest or an expropriation or other transfer required or imposed by Law or any Governmental Authority, whether voluntary or
involuntary), or to abandon, surrender or otherwise relinquish a right, title or interest.

 

(b)           Interpretation.
In this Agreement:

 

(i) unless the context
otherwise clearly requires, (A) references to the plural include the singular, and references to the singular include the plural,
(B) references to one gender include the other gender, (C) the words “include,” “includes,” and
 “including” do not limit the preceding terms or words and shall be deemed to be followed by the words “without
limitation,” (D) the terms “hereof,” “herein,” “hereunder,” “hereto,” and
similar terms refer to this entire Agreement and not to any particular provision of this Agreement, unless the provision otherwise
provides, (E) “or” is used in the inclusive sense of “and/or,” (F) if a word or phrase is defined, then its
other grammatical or derivative forms have a corresponding meaning; (G) a reference to Law or a statute, code, act, legislation, or
to a provision thereof includes a modification, amendment, or substitution thereof or any successor Law, the rules and regulations
promulgated thereunder, and the formal interpretations issued in accordance therewith; and (H) unless otherwise specified, the terms
 “day” and “days” mean and refer to calendar day(s);

 

(ii) unless otherwise specified,
any reference to any document, instrument or agreement (including a reference to this Agreement) (A) includes and incorporates all exhibits,
schedules, and other attachments thereto, (B) includes and incorporates all documents, instruments, deeds, or agreements issued or executed
in connection therewith or in replacement thereof, and (C) means such document, instrument, deed, or agreement, or replacement or predecessor
thereto, as amended, modified, or supplemented from time to time in accordance with its terms and in effect at the relevant time (except
to the extent prohibited by this Agreement or such other agreement or document);

 

(iii) unless otherwise specified, all
references to articles, sections, schedules and exhibits are to the Articles, Sections, and Exhibits of this Agreement;

 

(iv) the headings
of this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement; and

 

(v) the Parties acknowledge
that they and their respective legal counsel have reviewed and participated in negotiating and settling the terms of this Agreement,
including the Related Agreements, and agree that no inference shall be drawn in favor of or against any Party by virtue of the fact that
they or their respective legal counsel were or were not principally responsible for drafting this Agreement and the Related Agreements.

 

    6

    

    

 

2.            Purchase and
Sale; Assignment and Assumption.

 

(a)           Purchased Assets.
Subject to the terms and conditions of this Agreement and the Related Agreements, at the Closing the Seller shall sell and Transfer and
the Purchaser shall purchase and acquire, the Purchased Assets as of the Closing Date free and clear of any Encumbrances arising by,
through or under Seller, except for Permitted Encumbrances.

 

(b)           Assumed Liabilities.
Subject to the terms and conditions of this Agreement and the Related Agreements, at the Closing, the Seller shall assign to the Purchaser,
and the Purchaser shall assume the Assumed Liabilities.

 

(c)           Limitations.

 

(i)       Privilege.
All communications and other documents exchanged between the Seller or its Affiliates and legal counsel (including, as applicable, internal
legal counsel) providing legal advice to the Seller and its Affiliates, including documents and communications relating to the this Agreement,
the Property Donation Agreement, the Related Agreements, the Mining Property and the Donation Assets, and files maintained by legal counsel
as a result of providing legal advice to the Seller or its Affiliates (the “Privileged Documents”), that are subject
to attorney-client privilege, any similar privilege, or that constitute attorney work product (as applicable, a “Privilege”),
specifically are excluded from the Data and shall be and remain the property of the Seller its Affiliates, as applicable. Neither the
Seller nor its Affiliates intend to waive any applicable Privilege, and any disclosure of any Privileged Documents, whether in the Data
or otherwise, shall be deemed to be inadvertent. Accordingly, the Purchaser, on its behalf and on behalf of its Affiliates and its and
their respective Representatives acknowledges and agrees that a disclosure of any Privileged Documents will not constitute a waiver of
such Privilege, and the Person receiving any such Privileged Documents promptly shall return to the Seller, or with the consent of the
Seller, destroy, such Privileged Documents.

 

(ii)       Data. All Data
provided to, or made available to the Purchaser under this Agreement or prior to the Effective Date, is provided without representation
or warranty and is at the sole risk of the Purchaser. Such information is provided “AS IS, WHERE IS” AND WITH ALL FAULTS,
AND THE SELLER AND ITS AFFILIATES EXPRESSLY DISCLAIM THE ACCURACY OR COMPLETENESS OF ALL DATA, AND ALL EXPRESS OR IMPLIED WARRANTIES CONCERNING
THE SAME, AND EXPRESSLY EXCLUDING ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE.

 

(iii)     Permits. Purchaser,
at its cost and expense, shall have the sole responsibility to, and shall, Transfer the Seller Permits to the Purchaser as of the Closing
Date. In the event the Purchaser desires to amend, modify or revise any Seller Permits, or obtain additional Permits: (A) such amendments,
modifications or revisions, or any action to obtain additional Permits, shall only be made following Closing; and (ii) the Purchaser
shall be solely responsible for such amendments, modifications or revisions, or any action to obtain additional Permits, and shall be
solely liable for and shall pay all related fees and other costs, including the cost of posting any bonds or other financial assurances
related to any such amendments, modifications or revisions, or any action to obtain additional Permits. Any actions by the Purchaser
or any Affiliate of the Purchaser, to which the Seller Permits may be Transferred, to amend, modify or revise any Seller Permits, or
to obtain additional Permits, is subject to the rights of the Seller under the Quitclaim Deed.

 

    7

    

    

 

(iv)     Trade Name.
Purchaser shall not use the term “Homestake” or any confusingly similar term in any trademark, trade name, service mark, trade
dress, logo, copyright, domain name, or corporate, company or business name; provided that Purchaser may use the term “Homestake”
when referring to the Mining Property or the mining operations conducted on the Mining Property.

 

(d)           Nomination
of Seller Director. Purchaser hereby grants to Seller the right to nominate a director to the Board of Directors (the “Seller
Director”). Seller shall inform Purchaser in writing not less than two (2) Business Days prior to the Closing Date whether
Seller will exercise its right to nominate Seller Director, together with the name of the Seller Director.

 

3.            Consideration.

 

In consideration
of the purchase of the Purchased Assets and the assumption of the Assumed Liabilities, at the Closing Purchaser shall deliver to the Seller
the following (the “Consideration”):

 

(a)           Dakota Shares.
3,000,000 Dakota Shares (the “Consideration Shares”) to be issued to the Seller or a direct or indirect affiliate
of the Seller identified by the Seller to the Purchaser in writing not less than two days prior to the anticipated Closing Date (the
 “Designee”), which Consideration Shares shall be (i) registered in the name of the Designee in book-entry form by
the Purchaser’s transfer agent and (ii) bear a customary restrictive legend reflecting the issuance of the Consideration Shares
in a transaction exempt from registration under the Securities Act;

 

(b)           NSR. A 2.5% net
smelter returns royalty (the “NSR”) on the production of minerals from the properties set forth in the Royalty Deed,
dated as of the Closing Date; and

 

(c)           Operating
Indemnity. The indemnity included in the Quitclaim Deed, dated as of the Closing Date.

 

4.            Closing.

 

Closing shall take
place at a location mutually agreed by the Parties, and at a date and time mutually agreed by the Parties (the “Closing”),
but in any event not later than thirty (30) days after the Effective Date (the “Closing Date”).

 

(a)           Seller Closing
Deliverables. At Closing, the Seller shall deliver or cause to be delivered to the Purchaser the following:

 

(i)       The
Quitclaim Deed for the Mining Property, duly executed by the Seller;

 

    8

    

    

 

		(ii)	The Bill of Sale for the Data, duly executed by the Seller;

 

		(iii)	The Assignment and Assumption for the Assumed Liabilities, duly executed by the Seller;

 

		(iv)	The Royalty Deed for the NSR, duly executed by the Seller;

 

		(v)	A certificate of the Seller repeating its representations and warranties, except as noted thereon, in the form of Exhibit F;

 

		(vi)	A completed form W-9 and

 

(vii)    all
such other assurances, consents, agreements, documents and instruments as reasonably may be required by the Purchaser to consummate the
transactions contemplated in this Agreement and the Related Agreements.

 

(b)           Purchaser
Closing Deliverables. At Closing, the Purchaser shall deliver or cause to be delivered to the Seller the following:

 

(i)       A stock certificate
or a Direct Registration Statement from the Purchaser’s transfer agent, representing the Consideration Shares, issued in the name
of the Seller or the Designee, as applicable;

 

		(ii)	The Bill of Sale for the Data, duly executed by the Purchaser;

 

		(iii)	The Assignment and Assumption for the Assumed Liabilities, duly executed by the Purchaser;

 

		(iv)	The Royalty Deed for the NSR, duly executed by the Purchaser;

 

 (v)      The Quitclaim Deed for the Mining Property, duly executed by the Purchaser and JR Resources Corp., a Nevada corporation, and in proper form for recording;

 

(vi)     Certificates
of such resolutions evidencing the Purchaser’s existence, power and authority to enter into and execute this Agreement and to consummate
the transactions herein contemplated;

 

(vii)    A certificate
of the Purchaser repeating its representations and warranties, except as noted thereon, in the form of Exhibit G;

 

(viii)   all such
other assurances, consents, agreements, documents and instruments as reasonably may be required by the Purchaser or the Purchaser’s
title company to consummate the transactions contemplated in this Agreement and the Related Agreements.

 

(c)           Election of
Seller Director. In the event that Seller exercises its right to nominate the Seller Director pursuant to Section 2(d), on
and as of the Closing Date, Purchaser shall cause the Seller Director to be elected to the Board of Directors.

 

    9

    

    

 

(d)           Simultaneous Transactions.
The transactions and all deliveries contemplated in this Agreement shall be deemed to occur simultaneously on the Closing Date, and none
shall be deemed completed until all are completed.

 

(e)           Taxes and
Fees. Except for federal income Tax obligations related to the transactions set forth in this Agreement for which the Seller is responsible,
the Purchaser shall be solely liable for and shall pay all applicable sales, transfer, use, stamp, conveyance, value-added, real property
transfer, recording, and other similar Taxes, if any, together with all recording or filing fees, notarial fees and other similar costs
of Closing, that may be imposed upon, or payable, collectible or incurred in connection with the transactions contemplated in this Agreement.

 

(f)            Recordation.
The Purchaser shall be solely responsible for recording the Quitclaim Deed with the appropriate Governmental Authorities, and shall be
solely liable for and shall pay all related recording fees and other costs, fees and expenses. The Seller shall be solely responsible
for recording the Royalty Deed with the appropriate Governmental Authorities.

 

(g)           Unpaid Taxes.
The Purchaser shall be responsible for and shall pay to the applicable Governmental Authorities all unpaid Taxes of any nature with respect
to the Mining Property.

 

(h)           Possession. The
Purchaser shall be granted full and exclusive possession of the Mining Property at Closing.

 

5.            Seller’s
Representations and Warranties.

 

The Seller represents
and warrants to the Purchaser as of the Effective Date and as of the Closing Date as follows:

 

(a)           Incorporation and
Qualification. The Seller is a corporation incorporated and in good standing under the Laws of California and has the corporate power
to enter into and perform its obligations under this Agreement and the Related Agreements to which the Seller is a party.

 

(b)           Corporate Authority.
The execution and delivery of and performance by the Seller of this Agreement and the Related Agreements to which the Seller is a party,
the transfer of the Purchased Assets by the Seller to the Purchaser, and the assignment of the Assumed Liabilities from the Seller to
the Purchaser have been authorized by all necessary corporate action on the part of the Seller.

 

(c)           No Violation
or Breach. The execution and delivery of and performance by the Seller of this Agreement and the Related Agreements to which it is
a party:

 

(i)       does
not conflict with the articles of incorporation or bylaws of the Seller;

 

(ii)      does not violate
in any material respect any Law applicable to the Seller or the Purchased Assets; and

 

    10

    

    

 

(iii)     to the Knowledge of
Seller, does not (or would not with the giving of notice or the lapse of time) result in a material breach or material violation of or
a conflict in any material way with, or allow any other person or entity to exercise any rights under any contracts or instruments directly
related to the Purchased Assets to which the Seller is a party.

 

(d)           Execution and Binding
Obligation. This Agreement and each of the Related Agreements to which the Seller is a party has been duly executed and delivered
by the Seller and constitutes a legal, valid and binding agreement of the Seller enforceable against the Seller in accordance with its
terms, subject only to any limitation under applicable Laws relating to (i) bankruptcy, winding-up, insolvency, arrangement and other
Laws of general application affecting the enforcement of creditors’ rights, and (ii) the discretion that a court may exercise in
the granting of equitable remedies.

 

(e)           Filings, Consents
and Approvals. To the Knowledge of Seller, the Seller is not required to obtain any consent, waiver, authorization or order of, give
any notice to, or make any filing or registration with, any court or other Governmental Authority or other person or entity in connection
with the execution, delivery and performance by the Seller of this Agreement or any of the Related Agreements to which it is a party,
other than (i) filings required by state or federal securities laws (including the Securities Act and the Securities Exchange Act), if
applicable, (ii) those that have been made or obtained prior to the date of this Agreement, (iii) approvals for the assignment of the
Donation Agreement, (iv) the recording of the Memorandum of Option and the Quitclaim Deed; and (v) approvals for the Transfer of any
Permits.

 

(f)            Title to the Purchased
Assets. The Seller (i) owns the Purchased Assets free and clear of any Encumbrances arising by, through or under the Seller, except
for Permitted Encumbrances; and (ii) except for Permitted Encumbrances, to the Knowledge of Seller, there are no outstanding options,
rights of first offer or first negotiation or rights of first refusal in favor of any other party to acquire an interest in the Mining
Property, and the Seller has not granted any currently exercisable option or other right to acquire an interest in the other Purchased
Assets or the Property Donation Agreement; provided that the Seller has not reviewed the Data and makes no representation or warranty
as to the accuracy or completeness of any of the Data or that the Data delivered to the Purchaser constitutes all of the documents related
to the Mining Property, the Property Donation Agreement or the Donation Assets; and (iii) has not received written notice of any, and
to the Knowledge of Seller, there are no pending or threatened condemnation proceedings or proposed actions or agreements for taking
in lieu of condemnation with respect to any portion of the Mining Property.

 

(g)           No Action. Owner
has not received written notice of any, and to the Knowledge of Seller, there are no Proceedings which would prevent the consummation
of the transactions contemplated by this Agreement or the Related Agreements to which Seller is a party, nor is there any Proceeding
or Claim related to the Mining Property, including, without limitation, the title or environmental status of the Mining Property.

 

    11

    

    

 

(h)           OFAC.
The Seller is not listed on the list maintained by OFAC (commonly known as the OFAC List) or otherwise qualify as a terrorist,
specially designated national and blocked person or a person with whom business by a United States citizen or resident is
prohibited. The Seller is not in violation of any anti-money laundering or anti-terrorism statute, including the PATRIOT Act, and
the related regulations issued thereunder, including temporary regulations, and Executive Orders (including Executive Order 13224)
issued in connection therewith, all as amended from time to time. Neither the Seller nor any of its Affiliates or, to its knowledge,
any director, officer, employee, agent or representative of the Seller, is a Person currently the subject of any Sanctions. The
Seller has not knowingly engaged in, and is not now knowingly engaged in, any dealings or transactions with any Person, or in any
country or territory, that is the subject of Sanctions.

 

(i)            Consideration Shares.
The Seller, on its behalf and on behalf of its Designee, if any, represents and warrants that it is an institutional “accredited
investor” within the meaning of Rule 501(a)(1), (2), (3) or (7) under the Securities Act and it is acquiring the Consideration
Shares for its own account and not with a view to the distribution thereof. Seller, on its behalf and on behalf of its Designee, if any,
understands that the Consideration Shares have not been and will not be registered under the Securities Act, will bear a restrictive
legend, and may be resold only if registered pursuant to the provisions of the Securities Act or if an exemption from registration is
available. The Seller, on its behalf and on behalf of its Designee, if any, further represents and warrants that it will not Transfer
any Consideration Shares or any interest therein except in a transaction exempt from or not subject to the registration requirements
of the Securities Act. The Seller, on its behalf and on behalf of its Designee, if any, represents that (i) it has such knowledge, sophistication
and experience in business and financial matters that it is capable of evaluating the merits and risks of the acquisition of the Consideration
Shares and (ii) it has been granted the opportunity to ask questions of, and receive satisfactory answers from, representatives of Purchaser
concerning the business affairs and financial condition of the Purchaser and its Affiliates, and has had the opportunity to obtain and
has obtained any additional information which it deems necessary regarding such purchase, and that the Purchaser is not required to register
the Consideration Shares.

 

(j)            Disclaimer.
Except as specifically set forth in this Section 5:

 

(i)       Except as expressly
set forth herein, the Seller makes no representations or warranties of any kind or nature, express or implied, at Law or in equity, and
there are no implied conditions in respect of the Seller, or any of its assets, liabilities or operations, or with respect to the Purchased
Assets or the Assumed Liabilities, including without limitation, any warranties express or implied with respect to the sufficiency, merchantability
or fitness for any particular purpose of any of the Purchased Assets or the Assumed Liabilities, or compliance with applicable Laws, including
Environmental Laws, and all such representations, warranties or conditions hereby are expressly disclaimed.

 

(ii)      The Purchaser
hereby acknowledges and agrees that the Purchaser is purchasing the Purchased Assets and the Assumed Liabilities on an “as-is, where-is”
basis, with all faults.

 

    12

    

    

 

(iii)     WITHOUT
LIMITING THE FOREGOING, SELLER MAKES NO REPRESENTATIONS OR WARRANTIES WHATSOEVER CONCERNING THE EXISTENCE OR STATUS OF ANY MINES OR
WORKINGS WITHIN THE AREA COVERED BY THE MINING PROPERTY OR THE PROPERTIES COVERED BY THE PROPERTY DONATION AGREEMENT, INCLUDING THE
EXISTENCE AND STATUS OF ANY ABANDONED MINES OR WORKINGS, THE STATUS OF ANY ROYALTIES OR THE EXISTENCE OR STATUS OF ANY UNRECORDED
RIGHTS TO ANY ROYALTIES, THE EXISTENCE, NATURE, LOCATION, AMOUNT OR VALUE OF ANY MINERALIZATION, MINERAL RESERVES OR RESOURCES, THE
ABILITY TO EXTRACT, PROCESS, OR SELL MINERALS BY ANY MEANS, WHETHER ANY NECESSARY PERMITS CAN BE OBTAINED IN A TIMELY MANNER OR AT
ALL, WHETHER ANY MINING CAN BE DONE ECONOMICALLY OR AT ALL, OR THAT THERE WILL BE NO THIRD PARTY CHALLENGE TO THE ISSUANCE OF ANY
REQUIRED PERMIT OR ENVIRONMENTAL IMPACT STATEMENT REQUIRED FOR OPERATIONS WITH RESPECT TO THE MINING PROPERTIES OR THE PROPERTIES
COVERED BY THE PROPERTY DONATION AGREEMENT, OR THAT THERE ARE NO RIGHTS (INCLUDING ROYALTIES, ACCESS RIGHTS, INFORMATION RIGHTS,
RECONVEYANCE RIGHTS, REVERSIONARY RIGHTS OR OTHER RIGHTS OF PREDECESSORS IN INTEREST) RFELATED TO THE MINING PROPERTY OR THE
PROPERTIES COVERED BY THE PROPERTY DONATION AGREEMENT.

 

6.            Purchaser’s
Representations and Warranties.

 

The Purchaser represents
and warrants to the Seller as of the Effective Date and as of the Closing Date as follows:

 

(a)            Incorporation
and Qualification. The Purchaser is a corporation incorporated and in good standing under the Laws of the State of Nevada and has
the corporate power to enter into and perform its obligations under this Agreement and the Related Agreements to which the Purchaser
is a party;

 

(b)            Corporate Authority.
The execution and delivery of and performance by the Purchaser of this Agreement and each of the Related Agreements to which the Purchaser
is a party, the transfer of the Purchased Assets from the Seller to the Purchaser, and the assumption of the Assumed Liabilities by the
Purchaser, have been authorized by all necessary corporate action on the part of the Purchaser;

 

(c)            No Violation
or Breach. The execution and delivery of and performance by the Purchaser of this Agreement and the Related Agreements to which it
is a party:

 

(i)       does
not conflict with the articles of incorporation or bylaws of the Purchaser;

 

(ii)       does
not violate in any material respect any Law applicable to the Purchaser; and

 

(iii) does not (or
would not with the giving of notice or the lapse of time) result in a material breach or material violation of or a conflict in any material
way with, or allow any other person or entity to exercise any rights under any contracts or instruments to which the Purchaser is a party.

 

    13

    

    

 

(d)           Execution
and Binding Obligation. This Agreement and each of the Related Agreements to which the Purchaser is a party has been duly executed
and delivered by the Purchaser and constitutes a legal, valid and binding agreement of the Purchaser enforceable against it in accordance
with its terms subject only to any limitation under applicable Laws relating to (i) bankruptcy, winding-up, insolvency, arrangement and
other Laws of general application affecting the enforcement of creditors’ rights, and (ii) the discretion that a court may exercise
in the granting of equitable remedies.

 

(e)           Capitalization.

 

(i)       The authorized capital
of the Purchaser consists of 75,000,000 shares of common stock and 10,000,000 shares of preferred stock, of which [●] Dakota Shares,
no shares of preferred stock, and derivative securities to purchase up to [●] shares of common stock are issued and outstanding
as of [●], 20[__]; and

 

(ii)      On a fully
diluted basis, the Purchaser has a sufficient number of authorized Dakota Shares to issue the Consideration Shares without exceeding the
number of shares authorized under Purchaser’s articles of incorporation.

 

(f)            Filings, Consents
and Approvals.

 

(i)       The Purchaser
is not required to obtain any consent, waiver, authorization or order of, give any notice to, or make any filing or registration with,
any court or other Governmental Authority or other person or entity in connection with the execution, delivery and performance by the
Purchaser of this Agreement or any of the Related Agreements to which it is a party, other than (A) filings required by applicable securities
Laws (including the Securities Act and the Securities Exchange Act), and (B) those that have been made or obtained prior to the date of
this Agreement; and

 

(ii)      During the last 12
months, the Purchaser has filed in a timely manner all disclosures, reports and other filings required to be filed by it under applicable
securities Laws, including the Securities Act and the Securities and Exchange Act (the “Securities Filings”) in all
jurisdictions in which such Securities Filings are required to be filed and with all securities exchanges where the Purchaser’s
securities are traded, and all such Securities Filings are true and accurate in all material respects.

 

(g)           Financial Capability.

 

(i)       From the Effective
Date, and thereafter through the Closing, the Purchaser shall maintain sufficient financial resources and capabilities to pay the Consideration;
and

 

(ii)      Payment of the Consideration
will not leave the Purchaser insolvent, thinly capitalized (as determined by generally acceptable accounting principles applied on a consistent
basis), or unable to meet its commitments, financial or otherwise, as they become due.

 

(h)           Issuance of
the Consideration Shares. The issuance of the Consideration Shares has been duly authorized and, when issued, the Consideration Shares
will be duly and validly issued, fully paid and nonassessable, free and clear of all Encumbrances.

 

    14

    

    

 

(i)            The Purchaser is not
listed on the list maintained by OFAC (commonly known as the OFAC List) or otherwise qualify as a terrorist, specially designated national
and blocked person or a person with whom business by a United States citizen or resident is prohibited. The Purchaser is not in violation
of any anti-money laundering or anti-terrorism statute, including the PATRIOT Act, and the related regulations issued thereunder, including
temporary regulations, and Executive Orders (including Executive Order 13224) issued in connection therewith, all as amended from time
to time. Neither the Purchaser nor any of its Affiliates or, to its knowledge, any director, officer, employee, agent or representative
of the Seller, is a Person currently the subject of any Sanctions. The Purchaser has not knowingly engaged in, and is not now knowingly
engaged in, any dealings or transactions with any Person, or in any country or territory, that is the subject of Sanctions.

 

(j)            Independent
Review.

 

(i)       The Purchaser and its
Affiliates, and its and their respective Representatives, have had sufficient access to and opportunity to review the Purchased Assets
and the Assumed Liabilities and to ask questions of the management representatives and professional advisors of the Seller, as necessary
for the Purchaser to investigate, analyze, and evaluate the Purchased Assets and the Assumed Liabilities and to make its and their independent
decision to acquire the acquire the Purchased Assets and assume the Assumed Liabilities and to consummate the transactions contemplated
by this Agreement and the Related Agreements to which the Purchaser is a party.

 

(ii)      In making the decision
to enter into this Agreement and the Related Agreements to which the Purchaser is a party, and to consummate the transactions contemplated
herein and therein, the Purchaser has conducted its own independent investigation, analysis, and evaluation of the Purchased Assets and
the Assumed Liabilities (including the Purchaser’s own estimate and appraisal of the extent, location and value of mineralization,
mineral resources and reserves, undeveloped properties, and environmental obligations), and the f inancial condition of, operations, and
prospects for, the Mining Property and the properties included in the Donation Assets.

 

7.            Data.

 

Without any obligation to
investigate or review, to the extent that the Seller locates or receives any documents and/or information that constitute Data after the
Closing Date, it will deliver those documents and/or information to the Purchaser as soon as reasonably practicable.

 

8.            Indemnity.

 

(a)           Purchaser Indemnification.
Subject to the Quitclaim Deed, the Purchaser shall indemnify, defend and hold harmless the Seller and its Affiliates and its and their
respective Representatives (collectively, the “Seller Indemnitees") against, and shall hold each of them harmless from
and against, and shall pay and reimburse each of them for, any and all Losses incurred or sustained by, or imposed upon, the Seller Indemnitees
based upon, arising out of, with respect to or by reason of:

 

    15

    

    

 

 

(i)      any material
inaccuracy in or material breach of any of the representations or warranties of the Purchaser contained in this Agreement as of the Closing
Date (except for representations and warranties that expressly relate to a specified date, the inaccuracy in or breach of which will be
determined with reference to such specified date); provided that the materiality requirement in this Section 8(a)(i) shall
not apply to representations or warranties that, in accordance with their provisions, are subject to a materiality standard or

 

(ii)      any material
breach or non-fulfillment of any covenant, agreement or obligation to be performed by the Purchaser pursuant to this Agreement.

 

(b)      Limitations to Purchaser
Indemnification. Subject to the Quitclaim Deed, the aggregate liability of the Purchaser to the Seller Indemnitees for indemnification
pursuant to Section 8(a) in no event shall exceed the value of the Consideration Shares as determined as of the Closing Date.

 

(c)      Seller Indemnification.
The Seller shall indemnify, defend and hold harmless the Purchaser and its Affiliates and its and their respective Representatives (collectively,
the “Purchaser Indemnitees”) against, and shall hold each of them harmless from and against, and shall pay and reimburse
each of them for, any and all Losses incurred or sustained by, or imposed upon, the Purchaser Indemnitees based upon, arising out of,
with respect to or by reason of:

 

(i)      any material inaccuracy
in or material breach of any of the representations or warranties of the Seller contained in this Agreement as of the Closing Date (except
for representations and warranties that expressly relate to a specified date, the inaccuracy in or breach of which will be determined
with reference to such specified date); provided that the materiality requirement in this Section 8(c)(i) shall not apply
to representations or warranties that, in accordance with their provisions, are subject to a materiality standard; or

 

(ii)      any material
breach or non-fulfillment of any covenant, agreement or obligation to be performed by the Seller pursuant to this Agreement.

 

(d)      Limitations to Seller
Indemnification. The indemnification provided by the Seller to the Purchaser Indemnitees pursuant to Section 8(c) shall be
subject to the following limits:

 

(i)      the amount finally agreed
or adjudicated of any such individual Loss of a Purchaser Indemnitee subject to indemnification by the Seller under this Agreement must
exceed $10,000 (the “De Minimis Amount”);

 

(ii)      the aggregate amount
of Losses of the Purchaser Indemnitees subject to indemnification by the Seller under this Agreement must exceed $70,000 (the “Deductible”),
provided that (A) any individual amount used to calculate the Deductible shall be no less than the De Minimis Amount, and (B) once the
Deductible has been exceeded, the Purchaser shall only be entitled to require payment on such indemnities on the portion of Losses that
exceeds the Deductible;

 

(iii)      any Claims
of the Purchaser Indemnitees arising out of similar facts, matters or circumstances will not be treated as separate Claims; and

 

    16

     

    

 

(iv)      notwithstanding any
provision in this Agreement to the contrary, but subject to the Quitclaim Deed the aggregate amount of all Claims of the Purchaser Indemnitees
subject to indemnification by the Seller under this Agreement shall not exceed 10% of the total value of the Consideration Shares as of
the Closing.

 

(e)      Damages Limitations.
In no event shall the Purchaser be liable to any Seller Indemnitee, and in no event shall the Seller be liable to any Purchaser Indemnitee,
as applicable, for any punitive, incidental, consequential, special or indirect damages, including loss of future revenue or income, loss
of business reputation or opportunity relating to the breach or alleged breach of this Agreement, or diminution of value or any damages
based on any type.

 

(f)      Survival. Subject
to the provisions in the Quitclaim Deed governing the survival period of the indemnification obligations therein, the indemnification
obligations of the Purchaser to the Seller Indemnitees, and the indemnification obligations of the Seller to the Purchaser Indemnitees,
as applicable, under this Section 8 shall terminate in all respects two hundred and seventy (270) calendar days following the earlier
of the termination this Agreement and the Closing Date, after which such indemnification obligation automatically shall cease. For purposes
of clarity, the survival period for the indemnification obligations in the Quitclaim Deed shall be governed by the Quitclaim Deed.

 

(g)      Procedure.
Promptly after receipt by a Party entitled to indemnification hereunder (the “Indemnitee”) of written notice of
the assertion or the commencement of any Claim subject to indemnification under this Section 8, the Indemnitee shall give
written notice thereof to the Purchaser or the Seller, as applicable (the “Indemnitor”), and thereafter shall
keep the Indemnitor reasonably informed with respect thereto; provided, however, that failure of the Indemnitee to
give the Indemnitor notice as provided in this Section shall not relieve the Indemnitor of its obligations hereunder except to the
extent that the Indemnitor is prejudiced thereby. If any third person commences any Proceeding against any Indemnitee, the
Indemnitor shall be entitled to participate in such Proceeding and, at its option, assume the defense thereof with counsel
reasonably satisfactory to the Indemnitee, at the Indemnitor’s sole expense; provided, however, that the Indemnitor shall not
have the right to assume the defense of any Proceeding if (i) the Indemnitee shall have one or more legal or equitable defenses
available to it which are different from or in addition to those available to the Indemnitor, and, in the reasonable opinion of the
Indemnitee, counsel for the Indemnitor could not adequately represent the interests of the Indemnitee because such interests could
be in conflict with those of the Indemnitor, ( ii) such Proceeding is reasonably likely to have a material adverse effect on any
other matter beyond the scope or limits of the indemnification obligation of the Indemnitor, or (iii) the Indemnitor shall not have
assumed the defense of the Proceeding in a timely fashion (but in any event within 30 days of written notice of such Proceeding). If
the Indemnitor shall assume the defense of any Claim, the Indemnitee shall be entitled to participate in any Proceeding at its
expense, and the Indemnitor shall not settle such Proceeding unless the settlement shall include as an unconditional term thereof
the giving by the claimant or the plaintiff of a full and unconditional release of the Indemnitee from all liability with respect
to the matters that are subject to such Proceeding and to which Indemnitee is entitled to indemnification hereunder, or otherwise
shall have been approved reasonably by the Indemnitee.

 

    17

     

    

 

(h)      Sole Remedy. Subject
to the Quitclaim Deed, the rights to indemnification provided for in this Section 8 shall be the sole and exclusive remedy of the
Purchaser Indemnitees and the Seller Indemnitees, as the case may be, for any Claims or Losses of any nature under this Agreement.

 

9.       Conditions
of Closing.

 

(a)      Conditions for the
Benefit of the Purchaser. The transactions contemplated in this Agreement and the Related Agreements are subject to the following
conditions to be fulfilled or performed, on or before the Closing Date, which conditions are for the exclusive benefit of the Purchaser
and may be waived, in whole or in part, by the Purchaser in its sole discretion:

 

(i)      The covenants, representations
and warranties of the Seller contained in this Agreement shall be true and correct in all material respects as of the Closing Date with
the same force and effect as if such covenants, representations and warranties had been made on and as of such date; provided that the
materiality requirement in this Section 8(a)(i) shall not apply to covenants, representations and warranties that, in accordance
with their provisions, are subject to a materiality standard;

 

(ii)      The Seller
shall have obtained the consent of the South Dakota Governmental Authorities for the assignment of the Property Donation Agreement to
the Purchaser; and

 

(iii)      All other
consents, approvals and waivers required to Transfer the Purchased Assets to the Purchaser shall have been obtained on terms acceptable
to the Purchaser, acting reasonably.

 

(b)      Conditions
for the Benefit of the Seller. The purchase and sale of the Purchased Assets is subject to the following conditions to be fulfilled
or performed, on or before the Closing Date, which conditions are for the exclusive benefit of the Seller and may be waived, in whole
or in part, by the Seller in its sole discretion:

 

(i)      The covenants, representations
and warranties of the Purchaser contained in this Agreement shall be true and correct in all material respects as of the Closing Date
with the same force and effect as if such covenants, representations and warranties had been made on and as of such date; provided
that the materiality requirement in this Section 9(b)(i) shall not apply to covenants, representations and warranties that, in
accordance with their provisions, are subject to a materiality standard;

 

(ii)      The Purchaser
shall deliver to the Seller a copy of the resolution of the directors of the Purchaser approving the transactions contemplated in this
Agreement and the Related Agreements; and

 

(iii)      All consents,
approvals and waivers required to acquire the Purchased Assets and assume the Assumed Liabilities from the Seller shall have been obtained
on terms acceptable to the Seller, acting reasonably.

 

    18

     

    

 

10.       Casualty;
Condemnation.

 

Seller shall bear
the risk of any loss or damage to the Mining Property resulting from condemnation, fire or other casualty at all times prior to Closing.
In the event of any such loss or damage, there will be no adjustment in the Consideration on account of such loss or damage but all insurance
proceeds and condemnation awards payable as a result of the occurrence of the event resulting in such loss or damage shall be delivered
by Seller to Purchaser, or the rights to such proceeds shall be assigned by Seller to Purchaser if not yet paid over to Seller, in each
case contingent upon the occurrence of Closing.

 

11.       The Purchaser’s
Remedies for the Seller’s Default.

 

In the event that either
Party (, as applicable, the “Defaulting Party”) shall default in performance of its obligations under this Agreement,
or if the Defaulting Party’s representations and warranties contained in this Agreement shall fail to be true in any material and
adverse respect when made, or as of the Closing, which default continues for ten (10) Business Days following written notice thereof from
the other Party (as applicable, the “Non-Defaulting Party”) then, at the Non-Defaulting Party’s option, the Non-Defaulting
Party shall have the right to elect any of the following remedies hereunder: (a) the Non-Defaulting Party may terminate this Agreement
and thereafter, except as otherwise specifically set forth in this Agreement (including in Section 8), neither the Non-Defaulting
Party nor the Defaulting Party shall have any further obligations under this Agreement; (b) the Non-Defaulting Party may seek all remedies
at equity, including, without limitation, specific performance of this Agreement; or (c) the Non-Defaulting Party may seek applicable
rights to indemnification from the Defaulting Party in accordance with Section 8.

 

12.       Termination.

 

This Agreement may,
by notice in writing given at or prior to the Closing Date, be terminated by mutual consent of the Seller and the Purchaser.

 

13.       Brokers.

 

Each Party represents and
warrants to the other that that it has not had, and shall not have, any dealings with (and it has not engaged and will not engage) any
third party to whom the payment of any broker’s fee, finder’s fee, commission or other similar compensation shall or may become
due or payable in connection with the transactions contemplated hereby. It is agreed that if any claims for brokerage commissions or fees
are ever made against the Seller or the Purchaser, all such claims shall be handled and paid by the party whose actions or alleged commitments
form the basis of such claim. Each Party shall indemnify, defend and hold the other Party harmless from any and all claims for commissions
or fees by brokers made against the other party, and resulting loss, cost (including reasonable attorneys’ fees) and damages, which
claim shall have arisen out of any written document or alleged oral agreement entered or purported to have been entered into by the indemnifying
Party and the person claiming such commission, with respect to the transaction contemplated by this Agreement.

 

    19

     

    

 

14.       Maintenance
of Property; Title.

 

(a)      Maintenance of the
Property. The Seller shall make all payments of Taxes, royalties, land-holding costs, claim maintenance and similar fees, lease payments
and other payments that are due as of the Effective Date or become due from and after the Effective Date until the Closing Date and that
are required for the Seller to maintain its interest in the Mining Property, except to the extent such payments are being contested pursuant
to a good faith dispute.

 

(b)      No Encumbrances.
From and after the Effective Date until the Closing Date, the Seller shall not create or allow any Encumbrances arising by, through or
under Seller on the Mining Property, except for Permitted Encumbrances.

 

15.       Enurement.

 

This Agreement becomes effective
on the Effective Date. After the Effective Date, this Agreement will be binding upon and enure to the benefit of the Parties and their
respective successors, legal representatives and permitted assigns. Except as otherwise set forth in this Agreement or the Related Agreements,
neither this Agreement nor the Related Agreements nor any of the rights or obligations under this Agreement or the Related Agreements,
including any right to payment, may be assigned or transferred, in whole or in part, by either Party without the prior written consent
of the other Party.

 

16.       Entire Agreement.

 

This Agreement,
together with the Related Agreements, constitutes the entire agreement between the Parties with respect to the transactions contemplated
in this Agreement and supersedes all prior agreements, understandings, negotiations and discussions, whether oral or written, of the Parties
with respect to such transactions. Except as specifically set forth in this Agreement, the Parties have not relied and are not relying
on any other information, discussion or understanding in entering into and completing the transactions contemplated by this Agreement.

 

17.       Waiver.

 

No waiver of any of
the provisions of this Agreement will constitute a waiver of any other provision (whether or not similar). No waiver will be binding
unless executed in writing by the Party to be bound by the waiver. A Party’s failure or delay in exercising any right under
this Agreement will not operate as a waiver of that right. A single or partial exercise of any right will not preclude a Party from
any other or further exercise of that right or the exercise of any other right it may have.

 

18.       Further Assurances.

 

Each of the Parties
covenants and agrees to take reasonable commercial efforts to do such things and to execute such further conveyances, transfers, documents
and assurances as may be deemed necessary or advisable from time to time in order to effectively transfer the Purchased Assets to the
Purchaser and carry out the terms and conditions of this Agreement in accordance with their true intent.

 

    20

     

    

 

19.       Severability.

 

If any provision of this
Agreement is determined to be illegal, invalid or unenforceable, by an arbitrator or any court of competent jurisdiction from which no
appeal exists or is taken, that provision will be severed from this Agreement and the remaining provisions will remain in full force
and effect.

 

20.       Governing
Law; Jurisdiction.

 

(a) This Agreement
is governed by, and will be interpreted and construed in accordance with, the Laws of the State of Utah without reference to Utah principles
of conflicts of Law; provided that the Quitclaim Deed and the Royalty Deed shall be governed by the laws of the State of South
Dakota without reference to South Dakota principles of conflicts of Law.

 

(b) For all purposes of this
Agreement, and for all purposes of any Claim arising out of or relating to the transactions contemplated hereby or for recognition or
enforcement of any judgment, the Parties hereby submit to the exclusive jurisdiction of the United States District Court in the State
of Utah located in Salt Lake City, Utah, or if that court does not have or will not accept jurisdiction, then the competent state courts
of the State of Utah located in Salt Lake City, Utah, and hereby irrevocably and unconditionally agree that all matters with respect to
any such Claim may be heard and determined in such court. The Parties agree that a final judgment in any such Claim shall be conclusive
and may be enforced in any other jurisdiction by suit on the judgment or in any other manner provided by Law. Each of the Parties hereby
irrevocably and unconditionally waives, to the fullest extent they may legally and effectively do so , and further agrees not to assert
as a defense in any such Proceeding, any Proceeding that such Party is not personally subject to the jurisdiction of such court, that
the venue of the Proceeding is brought in an inconvenient forum or that this Agreement or the subject matter hereof may not be enforced
in or by such court.

 

(c) Each Party hereby irrevocably
waives all rights to a jury trial in any Proceeding of any kind directly or indirectly arising out of or in any way relating this this
Agreement. This jury trial waiver is intended to apply, to the fullest extent permitted by Law, to any and all disputes and controversies
that arise out of or in any way relate to any or all of the matters described in the preceding sentence, including without limitation
contract Claims, tort Claims, and all other common Law and statutory Claims of any kind or character. This Agreement may be filed in any
court of competent jurisdiction as a Party’s written consent to such Party’s waiver of a jury trial.

 

21.       Counterparts.

 

This Agreement may
be executed in any number of counterparts, each of which is deemed to be an original, and such counterparts together constitute one and
the same instrument. Transmission of an executed signature page by facsimile, email or other electronic means is as effective as a manually
executed counterpart of this Agreement.

 

    21

     

    

 

22.       Disclosure.

 

The Purchaser and the Seller
each acknowledge and agree that the other may be required to disclose the terms of this Agreement, as well as a copy of this Agreement,
in order to comply with federal securities Laws and hereby consent to such filing(s) as may be required by federal securities Laws.

 

[REMAINDER OF PAGE LEFT BLANK]

 

    22

     

    

 

 

The Parties have executed this Agreement as of the Effective
Date.

 

	 	SELLER:
	 	 	 
	 	HOMESTAKE MINING COMPANY OF CALIFORNIA
	 	 	 
	 	By: 	        
	 	Name: 	 
	 	Title:	 
	 	 	 
	 	PURCHASER:
	 	 	 
	                                   	DAKOTA TERRITORY RESOURCE CORP.
	 	 	 
	 	By: 	 
	 	Name: 	 
	 	Title:	 

 

     

     

    

 

EXHIBIT A

MINING PROPERTY

 

LEGAL DESCRIPTION

 

The following described real property located in Lawrence County,
South Dakota:

 

Surface

 

Lot 3 of Grizzly Gulch Tract (excluding Ryan Tract
Revised as shown on Plat Document 2012-4206 and excluding Keller Tract as shown on Plat Document 2019 -4247), including the Morton Lode,
M.S. 208, located in Sections 2, 3, 4, 9, 10, 11, 14 and 15, T4N, R3E and Section 34, T5N, R3E, B.H.M., as shown on Plat Document Number
2010 -1746 and comprising 2,025.26 acres, more or less and identified as 26030-00000-030-00;

 

Open Cut Tract, including the Highland
Chief, M.S. 50, located in Sections 27, 28, 29, 32, 33 and 34, T5N, R3E, B.H.M. as shown on Plat Document Number 2006-6682 and comprising
817.40 acres, more or less and identified as APN 26055-00000-000-00;

 

Sawpit Tract (excluding Sign Lot as shown on Plat
Document 2008 -4655 and a portion of Lot B-1A2 as shown on Plat Document 2010-4631, and Lot D of the Sawpit Tract as shown on Plat Document
2016-1775), including the Hidden Treasure, M.S. 49, located in Sections 19, 20, 29 and 30, T5N, R3E, B.H.M., as shown on Plat Document
Number 2006-7130 and comprising 480.67 acres, more or less and identified as APN 26070 -00000-000-00;

 

Tract 1 of the Sawpit Addition to the
Town of Central City (excluding Lots 1A, 1B, 2 and 3 of Tract 1 of Sawpit Addition as shown on Plat Document 2008-3880, 2009-1926 &
1025-1396), as shown on Plat Document Number 2007-677 and comprising 26.63 acres, more or less and identified as APN 27900-00100-000-00;

 

Lot 3, located in Section 28, T5N, R3E, B.H.M., comprising
0.68 acres, more or less and identified as APN-17000-00503-280-00;

 

General Jackson and Cowboy #1, M.S. 1583, located in Section
28, T5N, R3E, B.H.M., comprising 16.67 acres, more or less and identified as APN 26680-01583-000-00;

 

Tract G, Tract H, Tract J and Tract K,
located in a portion of Placer 252 in Section 28, T5N, R3E, B.H.M., as shown on Plat Document Number 2011-5451 and aggregating 0.40 acres
more or less and identified as APN 26280-00252-030-00, 26280-00252-0040-00, 26280-00252-0060-00, 26280-00252-070-00;

 

Lot 2, Lot 3 and Lot 4, of M.S. 1557, located
in the SW/4 Section 3, the SE/4 Section 4, E/2 Section 9 & NW/4 Section 10, T4N, R3E, B.H.M., as shown on Plat Document Number 2005-1092 and aggregating 193.33 acres, more or less and identified as APN 26620-01557-020-00, 26620-01557-030-00, 26620-01557-040-00;

 

Tract A, Centennial Addition to the Town of Central City, a portion
of M.S. 892, as shown on Plat

 

    A-1

     

    

 

Document Number 2006-494 and comprising 24.14 acres, more or
less and identified as APN 26020-00000-000-00, 27200-00000-000-00;

 

Tract D of the Yates Subdivision, (excluding Lot-D1
of Tract D the Yates Subdivision and a portion of Lot 3 of the Grizzly Gulch Tract as shown on Plat Document 2019-4246); and Tract E of
the Yates Subdivision, City of Lead, (excluding Lot E-1 of Tract E of the Yates Subdivision as shown on Plat Document 2017-1960), including
the Evanston, M.S. 235, as shown on Plat Document 2005-8217 and aggregating 117.19 acres, more or less and identified as APN 26090-00400-000-00,
26090-00500-000-00, 31910-00400-000-00, 31910-00500-000-00;

 

Tract A, Block 16, Billings Addition to the City
of Lead, as shown on Plat Document Number 2007-1490, excluding Lot 1 of Tract 16, Billings Addition to the City of Lead as shown on Plat
Document 2020-909, and comprising 24.22 acres, more or less and identified as APN 31210-01600-010-00;

 

Tract 1, Terraville Addition to the City of Lead, as shown
on Plat Document 2009 -3218, comprising 60.12 acres, more or less and identified as APN 31820-00000-000-00;

 

Lot A of Lot 1, Tract 4, Homestake Addition to
the City of Lead, as shown on Plat Document Number 96-1826, comprising 0.443 acres, more or less and identified as APN 31440-00400-001-00;

 

Lots 1, 2 and 18, Block 1, Washington Addition
to the City of Lead, and McCloud Extension, as shown on the Cricks Map of the City of Lead, and identified as APN 31870-00100-200-00,
31870-00100-020-00;

 

Remainder of Lot 1, Tract 1, of the Homestake
Addition to the City of Lead, as shown on Plat Document Number 94-5906 and 2000-3708, comprising 7.25 acres, more or less and identified
as APN 31440-00100-001-00;

 

Tract 2 of the Homestake Addition to the
City of Lead including a portion of Lot AB1 and excluding Dog Run Park plat, as shown on Plat Document Number 94 -5906, comprising 39.18
acres, more or less and identified as APN 31440-00200-000-00;

 

Remainder of Tract 8 of the Homestake Addition
to the City of Lead (excluding Tract 1, Terraville Addition to City of Lead as shown on Plat Document 2009 -3218), as shown on Plat Document
Number 2007-996 and comprising 41.37 acres, more or less and identified as APN 31440-00800-000-00;

 

Tract 9 of the Homestake Addition to the
City of Lead and vacated portion of Spring Street (excluding Dog Run Park of Tract 9 as shown on Plat Document Number 2009-5880), as shown
on Plat Document Number 2007-5814 and comprising 34.39 acres, more or less and identified as APN 31440-00900-000-00;

 

Remainder of Lot 9, Block 3, Washington
Addition to the City of Lead (excluding Lot 9A, Block 3 as shown on Plat Document Number 2007-6394), as described in Book 314 Page 25
and identified as APN 31870-00300-090-10;

 

    A-2

     

    

 

Lot 9A, Block 3, Washington Addition to the City of Lead, as
shown on Plat Document Number 2007-6394, comprising 0.19 acres, more or less and identified as APN 31870-00300-090-20;

 

School Lots, 31 and 32, inside City of Deadwood, located in
Section 27, T5N, R3E, B.H.M. comprising 12.32 acres, more or less and identified as APN 30075-00031-000-00;

 

Tract D, McGovern Hill Addition to the City of
Deadwood, (excluding Lot D-1 of the McGovern Hill Addition to the City of Deadwood as shown on Plat Document 2019-338) as shown on Plat
Document No. 2003-4122 and comprising 3.01 acres, more or less and identified as APN 30610-00000-040-00;

 

Tract 1, Tract 2 and Lot 6, inside City
of Deadwood, located in Section 27, T5N, R3E, B.H.M., comprising 11.54 acres, more or less and identified as APN 30890-00503-270-20;

 

Remainder of St. James patented lode mining
claim, M.S. 754, inside City of Deadwood, located in Section 27, T5N, R3E, B.H.M., comprising 3.25 acres, more or less and identified
as APN 30900-00754-000-14;

 

Remainder of Hunter Lode patented lode
mining claim, M.S. 1295, inside City of Deadwood, excluding Lot 1R-A, Lots 1 and 2, located in Section 27, T5N, R3E, B.H.M., comprising
4.32 acres, more or less and identified as APN 30900 -01295-000-80;

 

Brownie patented lode mining claims, M.S.
1324 and School Lot 22, inside City of Deadwood, located in Section 27, T5N, R3E, B.H.M., comprising 67.76 acres, more or less and identified
as APN 30900-01324-000-10 ;

 

Remainder of Alida #1 and Alida#2 patented
lode mining claims, M.S. 1463, inside City of Deadwood, located in Section 27, T5N, R3E, B.H.M., comprising 6.35 acres, more or less and
identified as APN 30900-01463-000-00;

 

Lot 15, Golden Gate, located in Section 29, T5N, R3E, B.H.M.,
as shown on Plat Document Number 99-1127, comprising .08 acres, more or less and identified as APN 27300-00049-000-00;

 

Lot 6, located in Section 11, T4N, R3E, B.H.M., comprising
..08 acres, more or less and identified as APN 13000-00403-110-03;

 

Gold Run Tract, Gold Run Addition to the City of Lead, as shown
on Plat Document Number 2005-4941, comprising 7.94 acres, more or less and identified as APN 31400-00000-010-00;

 

Park Tract, Gold Run Addition to the City of Lead, as shown on Plat
Document Number 2005-4941, comprising 11.11 acres, more or less and identified as APN 31400 -00000-020-00;

 

Tract C-3A of P.C. 51, 62, 64, 108, 252 and 255, and of
M.S. 1971, 1441, 1363 and 1608, located in Section 28, T5N, R3E, B.H.M., as shown on Plat Document Number 2005-1326, comprising
11.95 acres, more or less and identified as APN 26200-00051-000-50.

 

    A-3

     

    

 

Mineral – 100%

 

General Grant, M.S. 675, located in Section 1, T4N, R2E,
B.H.M.; Boss lode, M.S. 839, located in Section 6, T4N, R3E, B.H.M.;

 

Big Sam, Francis, Marseillase, Minnie, Ruby Hill and Glenwood
lodes, M.S. 930, located in Section 7, T4N, R3E, B.H.M.;

 

South Lyon lode, M.S. 935, located in Section 6, T4N, R3E, B.H.M.;

 

Argenta, Glyn, Lemans, Oro and Oro Fraction lodes, M.S. 1109,
located in Sections 12 and 13, T4N, R2E, BH.M.;

 

West Wedge Fraction, West End, Jackson, Moonlight, Sunrise,
Sunset Fraction, Lizzie lodes, M.S. 1114, located in Section 12, T4N, R2E, and Section 7, T4N, R3E, B.H.M.;

 

Camden, Ford and Georgia lodes, M.S. 1141, located in Sections
34 and 35, T5N, R2E, B.H.M.; Blue and Rocky Lynn lodes, M.S. 1168, located in Section 34, T5N, R2E, B.H.M.;

 

Buffalo, Deadwood, Link Fraction, May lodes, M.S. 1283, located
in Section 33, T5N, R2E, B.H.M.;

 

Cardinal and Longpoint Fraction lodes, M.S. 1288, located in Section
25, T5N, R2E, B.H.M.;

 

Ames, Ames Fraction, Cloud, Dick, Ester, Lightning, Thunder
lodes, M.S. 1289, located in Sections 27 and 28, T5N, R2E, B.H.M.;

 

James G. Blaine, M.S. 1349, located in Section 34, T5N, R2E,
B.H.M.; Loyd lode, M.S. 1468, located in Sections 33 and 34, T5N, R2E, B.H.M.;

 

Genessee, Grenada, Peerless, Trenton lodes, M.S. 1616, located in Section
4, T4N, R2E, B.H.M.; Snorter and Snorter Fraction lodes, M.S. 1643, located in Sections 33 and 34, T5N, R2E, B.H.M.;

 

Maid of Erin, Telegram, Gannon, B&M Fraction lodes, M.S.
1659, located in Sections 33 and 34, T5N, R2E, and Section 3, T4N, R2E, B.H.M.;

 

Belligerent, Belligerent Fraction, Belligerent No. 3, Belligerent
No. 4, Bull Hill Fraction lodes, M.S. 1673, located in Sections 27 and 34, T5N, R2E, B.H.M.;

 

Marconi lode, M.S. 1792, located in Section 31, T5N, R3E, B.H.M.;

 

    A-4

     

    

 

EXHIBIT B

ASSIGNMENT AND ASSUMPTION

 

ASSIGNMENT AND ASSUMPTION AGREEMENT

 

This Assignment and Assumption Agreement
(Real Property Leases, Agreements, Rights of Way and Easements) (Lawrence County) (this “Assignment”), effective
as of [____], 20[__] (“Effective Date”), is from the Homestake Mining Company of California, a California
corporation (“Assignor”) whose address is 310 S. Main Street, Suite 1150, Salt Lake City, Utah 84101, to Dakota
Territory Resource Corp., a Nevada corporation whose address is 106 Glendale Drive, Suite A, Lead, South Dakota 57754
(“Assignee”).

 

Recitals

 

1.           
Assignor and Assignee are parties to that certain Asset Purchase Agreement dated [___] (the “Agreement”).

 

2.           
Pursuant to the Agreement, Assignor agreed, among other things, to assign to Assignee all of Assignor’s right, title and
interest in, to and under certain assets described in the Agreement (collectively, the “Assigned Assets”), which
form part of the Purchased Assets.

 

3.            
Pursuant to the Agreement, the parties to the Agreement agreed, among other things, to cause Assignee to assume all Assumed Liabilities
in, under or related to the Assigned Assets.

 

4.           
Assignor and Assignee execute this Assignment with respect to the Assigned Assets in order to fulfill, in part, their obligations under
the Agreement.

 

Assignment and Assumption

 

For good and valuable
consideration, the receipt and sufficiency of which are acknowledged by the parties, and subject to the terms and conditions set forth
in the Agreement, Assignor sells, assigns and transfers to Assignee, its successors and assigns forever, all of Assignor’s right,
title and interest in, to and under the Assigned Assets, free and clear of all encumbrances other than Permitted Encumbrances, to have
and to hold forever.

 

As of the Effective Date,
Assignees accept the assignment, and assume and agree to perform and satisfy all Assumed Liabilities in, under or related to the Assigned
Assets.

 

     

     

    

 

Notwithstanding
the foregoing, to the extent that the sale, assignment and transfer of any Assigned Asset pursuant to this Assignment requires prior
consent or approval of any person or governmental authority, and such consent or approval has not been obtained prior to or on the
Effective Date, then the sale, assignment and transfer of any such Assigned Asset pursuant to this Assignment shall not be effective
until such consent or approval shall have been obtained. Upon obtaining such consent or approval, the sale, assignment and transfer
of any such Assigned Asset pursuant to this Assignment shall become effective automatically without any further action on the part
of the parties hereto. To the greatest extent permitted by law, all Assumed Liabilities in, under or related to any such asset shall
be, and shall for all purposes be deemed to be, assumed by Assignee as of the Effective Date and Assignee shall thereafter be fully
responsible and liable therefor.

 

This Assignment
incorporates by reference the representations and warranties, and associated limitations and disclaimers, made in the Agreement with respect
to the Assigned Asset. This Assignment and the covenants contained herein shall extend to and be binding upon and every benefit hereof
shall inure to the parties hereto, their respective successors and assigns.

 

This Assignment, being further
documentation of the transactions contemplated by the Agreement, is subject in all respects to the terms and conditions of the Agreement.
In the event of a conflict between any provision of this Assignment and any provision of the Agreement, the provisions of the Agreement
shall control. Capitalized terms used but not defined in this Assignment shall have the meanings ascribed to them in the Agreement.

 

This Assignment shall be governed by the laws of the South
Dakota.

 

This Assignment
may be executed in counterparts, each of which when so executed will be deemed to be an original and when taken together shall constitute
the entire and same agreement.

 

[Signature Page Follows]

 

    B-2

     

    

 

Executed by Assignor and Assignees to be effective as of the Effective
Date.

 

	Assignor:	Assignee:

 

	Homestake Mining Company of California, a California corporation	Dakota Territory Resource Corp., a Nevada corporation

 

	By:	 	By:	 
	Name:		Name:	 
	Title:	 	Title:	

 

    B-3

     

    

 

EXHIBIT C

BILL OF SALE

 

BILL OF SALE

 

This Bill of Sale (the “Bill
of Sale”), executed to be effective as of [___] (the “Effective Date”), is made by Homestake Mining Company
of California, a California corporation, the address of which is 310 S. Main Street, Suite 1150, Salt Lake City, Utah 84101 (“Seller”),
in favor of Dakota Territory Resource Corp, a Nevada corporation, the address of which is 106 Glendale Drive, Suite A, Lead South Dakota
57754 (“Purchaser”).

 

Recitals

 

1.           
Seller and Purchaser, are parties to that certain Asset Purchase Agreement dated [____] (the “Agreement”). Capitalized
terms used and not otherwise defined in this Bill of Sale shall have the meanings ascribed to them in the Agreement.

 

2.          
 Pursuant to the Agreement, Seller
agreed, among other things, to sell and transfer to Purchaser all of Seller’s right, title and interest in, to and under the
Data that form a part of the Purchased Assets (the “Sale Assets”).

 

3.           
Seller executes
this Bill of Sale with respect to the Sale Assets in order to fulfill, in part, its obligations under the Agreement.

 

Sale

 

For good and valuable
consideration, the receipt and sufficiency of which are acknowledged, subject to the terms and conditions set forth in the Agreement,
Seller hereby sells, assigns and transfers to Purchaser all of Seller’s right, title and interest in and to the Sale Assets, free
and clear of encumbrances arising by, through or under Seller.

 

This Bill of Sale
incorporates by reference the representations and warranties, and associated limitations and disclaimers, made in the Agreement with respect
to the Sale Assets and no others. This Bill of Sale, being further documentation of the transactions contemplated by the Agreement, is
subject in all respects to the terms and conditions of the Agreement. In the event of a conflict between any provision of this Bill of
Sale and any provision of the Agreement, the provisions of the Agreement shall control.

 

This Bill of Sale and the
covenants contained herein shall extend to and be binding upon and every benefit hereof shall inure to the parties hereto, their respective
successors and assigns. This Bill of Sale may be executed in counterparts, each of which shall be deemed an original, but all of which
together shall be deemed to be one and the same agreement. This Bill of Sale may be executed by facsimile, e-mail, .pdf or similar means,
which shall be deemed to have the same legal effect as delivery of an original signed copy of this Bill of Sale for all purposes.

 

This Bill of Sale is governed by the laws of South Dakota.

 

    C-1

     

    

 

Executed by Assignor to be effective as of the date first written above.

 

	Seller:	 
	Homestake Mining Company of California, a California corporation	 

 

	By:	 	 
	Name:	 	 
	Title:	 	 

 

	Acknowledged and accepted: 

Purchaser:	 
	Dakota Territory Resource Corp., a Nevada corporation	 

 

	By:	 	 
	Name:	 	 
	Title:	 	 

 

    C-2

     

    

 

EXHIBIT D 

QUITCLAIM DEED

 

(See Attached)

 

    D-1

     

    

 

Prepared by:

 

Parsons Behle & Latimer 

201 South Main Street 

Salt Lake
City, Utah 

84111 

(801) 532-1234

 

Grantee Address:

Dakota Territory Resource Corp

106 Glendale Drive, Suite A

Lead, SD 57754

 

Pursuant to South Dakota Codified Laws
43-28-24 thru 43-28-28 inclusive: this Deed does not contain any individual’s personally identifiable information.

 

 

QUITCLAIM DEED

 

This QUITCLAIM DEED (the “Deed”) is
effective the [__] day of [__], 20[__] (the “Effective Date”), by and between Homestake Mining Company of
California, a California corporation (“Grantor”), Dakota Territory Resource Corp., a Nevada
corporation (“Grantee”), and JR Resources Corp., a Nevada Corporation (the
 “Guarantor”).

 

RECITALS

 

1.           
Grantor and Grantee are parties to that certain Asset Purchase Agreement executed by Grantor and Grantee on [DATE], 2021 (the “Agreement”).

 

2.           
Pursuant to the
Agreement, Grantor agreed, among other things, to convey to Grantee all of Grantor’s right, title and interest in and to the
real property described in Exhibit A to this Deed (the “Mining Property”). The Mining Property is located
in Lawrence County, South Dakota.

 

3.           
As partial consideration for the conveyance of the Mining Property from Grantor to Grantee, Grantee hereby agrees to conduct mining operations
on the Mining Property in accordance with certain operating parameters, and to indemnify Grantor for any failure by Grantee to conduct
such mining operations in accordance with such operating parameters, all as described

in Exhibit B to this Deed (the “Operating Parameters
and Indemnity”).

 

4. Each of Grantor
and Grantee executes this Deed with respect to the Mining Property and the Operating Parameters and Indemnity in order to fulfill, in
part, its respective obligations under the Agreement.

 

    1

     

    

 

CONVEYANCE

 

For good and valuable consideration,
the receipt and sufficiency of which are acknowledged by the parties, Grantor quitclaims to Grantee all of Grantor’s right, title
and interest, if any, in and to the Mining Property and all and singular the tenements, hereditaments, appurtenances, fixtures, buildings,
and other improvements thereon or thereunto belonging to or in anywise appertaining, the reversion and reversions, remainder and remainders,
rents, issues, and profits thereof and including, with respect to all patented mining claims included in the Mining Property all of the
lodes, ledges, veins and mineral-bearing rock, both known and unknown, intraliminal and extralateral, lying within or extending beyond
the boundaries of such mining claims, and all dips, spurs and angles, and all the ores, mineral bearing-quartz, rock and earth or other
mineral deposits therein or thereon, to have and to hold unto Grantee, its successors and assigns forever, subject to the Operating Parameters
and Indemnity.

 

Grantee hereby agrees to conduct mining
operations on the Mining Property in accordance with the Operating Parameters and Indemnity.

 

This Deed and the covenants contained
herein shall extend to and be binding upon and every benefit hereof shall inure to the parties hereto, their respective successors and
assigns.

 

This Deed shall be governed by the laws of the State of South
Dakota.

 

[Signature Page follows]

 

    2

     

    

 

IN WITNESS WHEREOF, Grantor has executed this Deed on the
date set forth above.

 

	 	HOMESTAKE MINING COMPANY OF CALIFORNIA

 

	 	By:	 
	 	Name:	 
	 	Title:	 

 

ACKNOWLEDGEMENT

STATE
OF                                                                    )

 )
ss.

COUNTY
OF                                                               )

 

This record was
acknowledged before me on the ____ day of ______________, 20[__], by ____________________ as __________________ of Homestake Mining Company
of California, a California corporation.

 

	 	
	 	(Signature of notarial officer)
	 	[Affix seal/stamp as close to signature as possible]

  

	 	My commission expires:
	 	 
	 	

 

 

    3

     

    

 

	 	DAKOTA TERRITORY RESOURCE CORP.

 

	 	By:	 
	 	Name:	 
	 	Title:	 

 

ACKNOWLEDGEMENT

STATE
OF                                                                    )

 )
ss.

COUNTY
OF                                                               )

 

This record was
acknowledged before me on the ____ day of ______________, 20[__], by ____________________ as ___________ of Dakota Territory Resource
Corp, a Nevada corporation.

 

	 	
	 	(Signature of notarial officer)
	 	[Affix seal/stamp as close to signature as possible]

 

	 	My commission expires:
	 	 
	 	

 

 

    4

     

    

 

	 	JR RESOURCES CORP.

 

	 	By:	 
	 	Name:	 
	 	Title:	 

 

ACKNOWLEDGEMENT

STATE
OF                                                                    )

 )
ss.

COUNTY
OF                                                               )

 

This record was acknowledged before me
on the ____ day of ______________, 20[__], by ____________________ as ___________ of JR Resources Corp, a Nevada corporation.

 

	 	
	 	(Signature of notarial officer)
	 	[Affix seal/stamp as close to signature as possible]

  

	 	My commission expires:
	 	 
	 	

 

    5

     

    

 

 

EXHIBIT A

TO

DEED

 

MINING PROPERTY (LAWRENCE COUNTY, SOUTH DAKOTA)

 

The following described real property located in Lawrence County,
South Dakota:

(surface)

 

Lot 3 of Grizzly Gulch Tract (excluding Ryan Tract
Revised as shown on Plat Document 2012-4206 and excluding Keller Tract as shown on Plat Document 2019-4247), including the Morton Lode,
M.S. 208, located in Sections 2, 3, 4, 9, 10, 11, 14 and 15, T4N, R3E and Section 34, T5N, R3E, B.H.M., as shown on Plat Document Number
2010 -1746 and comprising 2,025.26 acres, more or less and identified as 26030-00000-030-00;

 

Open Cut Tract, including the Highland
Chief, M.S. 50, located in Sections 27, 28, 29, 32, 33 and 34, T5N, R3E, B.H.M. as shown on Plat Document Number 2006 -6682 and comprising
817.40 acres, more or less and identified as APN 26055 -00000-000-00;

 

Sawpit Tract (excluding Sign Lot as shown on Plat
Document 2008-4655 and a portion of Lot B-1A2 as shown on Plat Document 2010 -4631, and Lot D of the Sawpit Tract as shown on Plat Document
2016-1775), including the Hidden Treasure, M.S. 49, located in Sections 19, 20, 29 and 30, T5N, R3E, B.H.M., as shown on Plat Document
Number 2006-7130 and comprising 480.67 acres, more or less and identified as APN 26070 -00000-000-00;

 

Tract 1 of the Sawpit Addition to the
Town of Central City (excluding Lots 1A, 1B, 2 and 3 of Tract 1 of Sawpit Addition as shown on Plat Document 2008-3880, 2009-1926 &
1025-1396), as shown on Plat Document Number 2007-677 and comprising 26.63 acres, more or less and identified as APN 27900-00100-000-00;

 

Lot 3, located in Section 28, T5N, R3E,
B.H.M., comprising 0.68 acres, more or less and identified as APN-17000-00503-280-00;

 

General Jackson and Cowboy #1, M.S. 1583,
located in Section 28, T5N, R3E, B.H.M., comprising 16.67 acres, more or less and identified as APN 26680-01583-000-00;

 

Tract G, Tract H, Tract J and Tract K,
located in a portion of Placer 252 in Section 28, T5N, R3E, B.H.M., as shown on Plat Document Number 2011 -5451 and aggregating 0.40 acres
more or less and identified as APN 26280-00252-030-00, 26280-00252-0040-00, 26280-00252-0060-00, 26280-00252-070-00;

 

Lot 2, Lot 3 and Lot 4, of M.S. 1557, located
in the SW/4 Section 3, the SE/4 Section 4, E/2 Section 9 & NW/4 Section 10, T4N, R3E, B.H.M., as shown on Plat Document Number 2005
-1092 and aggregating 193.33 acres, more or less and identified as APN 26620 -01557-020-00, 26620-01557-030-00, 26620-01557-040-00;

 

    A-1

     

    

 

Tract A, Centennial Addition to the Town
of Central City, a portion of M.S. 892, as shown on Plat Document Number 2006-494 and comprising 24.14 acres, more or less and identified
as APN 26020-00000-000-00, 27200-00000-000-00;

 

Tract D of the Yates Subdivision, (excluding Lot-D1
of Tract D the Yates Subdivision and a portion of Lot 3 of the Grizzly Gulch Tract as shown on Plat Document 2019-4246); and Tract E of
the Yates Subdivision, City of Lead, (excluding Lot E-1 of Tract E of the Yates Subdivision as shown on Plat Document 2017-1960), including
the Evanston, M.S. 235, as shown on Plat Document 2005-8217 and aggregating 117.19 acres, more or less and identified as APN 26090-00400-000-00,
26090-00500-000-00, 31910-00400-000-00, 31910-00500-000-00;

 

Tract A, Block 16, Billings Addition to the City
of Lead, as shown on Plat Document Number 2007-1490, excluding Lot 1 of Tract 16, Billings Addition to the City of Lead as shown on Plat
Document 2020-909, and comprising 24.22 acres, more or less and identified as APN 31210-01600-010-00;

 

Tract 1, Terraville Addition to the City of Lead, as shown
on Plat Document 2009 -3218, comprising 60.12 acres, more or less and identified as APN 31820-00000-000-00;

 

Lot A of Lot 1, Tract 4, Homestake Addition to
the City of Lead, as shown on Plat Document Number 96-1826, comprising 0.443 acres, more or less and identified as APN 31440 -00400-001-00;

 

Lots 1, 2 and 18, Block 1, Washington Addition
to the City of Lead, and McCloud Extension, as shown on the Cricks Map of the City of Lead, and identified as APN 31870 -00100-200-00,
31870-00100-020-00;

 

Remainder of Lot 1, Tract 1, of the Homestake
Addition to the City of Lead, as shown on Plat Document Number 94-5906 and 2000-3708, comprising 7.25 acres, more or less and identified
as APN 31440-00100-001-00;

 

Tract 2 of the Homestake Addition to the
City of Lead including a portion of Lot AB1 and excluding Dog Run Park plat, as shown on Plat Document Number 94 -5906, comprising 39.18
acres, more or less and identified as APN 31440 -00200-000-00;

 

Remainder of Tract 8 of the Homestake Addition
to the City of Lead (excluding Tract 1, Terraville Addition to City of Lead as shown on Plat Document 2009 -3218), as shown on Plat Document
Number 2007-996 and comprising 41.37 acres, more or less and identified as APN 31440 -00800-000-00;

 

Tract 9 of the Homestake Addition to the
City of Lead and vacated portion of Spring Street (excluding Dog Run Park of Tract 9 as shown on Plat Document Number 200 9-5880), as
shown on Plat Document Number 2007-5814 and comprising 34.39 acres, more or less and identified as APN 31440-00900-000-00;

 

    A-2

     

    

 

Remainder of Lot 9, Block 3, Washington
Addition to the City of Lead (excluding Lot 9A, Block 3 as shown on Plat Document Number 2007-6394), as described in Book 314 Page 25
and identified as APN 31870-00300-090-10;

 

Lot 9A, Block 3, Washington Addition to
the City of Lead, as shown on Plat Document Number 2007-6394, comprising 0.19 acres, more or less and identified as APN 31870-00300-090-20;

 

School Lots, 31 and 32, inside City of
Deadwood, located in Section 27, T5N, R3E, B.H.M. comprising 12.32 acres, more or less and identified as APN 30075-00031-000-00;

 

Tract D, McGovern Hill Addition to the City of
Deadwood, (excluding Lot D-1 of the McGovern Hill Addition to the City of Deadwood as shown on Plat Document 2019-338) as shown on Plat
Document No. 2003-4122 and comprising 3.01 acres, more or less and identified as APN 30610-00000-040-00;

 

Tract 1, Tract 2 and Lot 6, inside City
of Deadwood, located in Section 27, T5N, R3E, B.H.M., comprising 11.54 acres, more or less and identified as APN 30890-00503-270-20;

 

Remainder of St. James patented lode mining
claim, M.S. 754, inside City of Deadwood, located in Section 27, T5N, R3E, B.H.M., comprising 3.25 acres, more or less and identified
as APN 30900-00754-000-14;

 

Remainder of Hunter Lode patented lode
mining claim, M.S. 1295, inside City of Deadwood, excluding Lot 1R-A, Lots 1 and 2, located in Section 27, T5N, R3E, B.H.M., comprising
4.32 acres, more or less and identified as APN 30900-01295-000-80;

 

Brownie patented lode mining claims, M.S.
1324 and School Lot 22, inside City of Deadwood, located in Section 27, T5N, R3E, B.H.M., comprising 67.76 acres, more or less and iden
tified as APN 30900-01324-000-10 ;

 

Remainder of Alida #1 and Alida#2 patented
lode mining claims, M.S. 1463, inside City of Deadwood, located in Section 27, T5N, R3E, B.H.M., comprising 6.35 acres, more or less and
identified as APN 30900-01463-000-00;

 

Lot 15, Golden Gate, located in Section 29, T5N, R3E, B.H.M.,
as shown on Plat Document Number 99-1127, comprising .08 acres, more or less and identified as APN 27300 -00049-000-00;

 

Lot 6, located in Section 11, T4N, R3E, B.H.M., comprising
..08 acres, more or less and identified as APN 13000-00403-110-03;

 

Gold Run Tract, Gold Run Addition to the City of Lead, as shown
on Plat Document Number 2005-4941, comprising 7.94 acres, more or less and identified as APN 31400-00000-010-00;

 

Park Tract, Gold Run Addition to the City of Lead, as shown on Plat
Document Nu mber 2005-4941, comprising 11.11 acres, more or less and identified as APN 31400-00000-020-00;

 

    A-3

     

    

 

Tract C-3A of P.C. 51, 62, 64, 108, 252 and 255,
and of M.S. 1971, 1441, 1363 and 1608, located in Section 28, T5N, R3E, B.H.M., as shown on Plat Document Number 2005-1326, comprising
11.95 acres, more or less and identified as APN 26200-00051-000-50.

 

Mineral – 100%

 

General Grant, M.S. 675, located in Section 1, T4N, R2E, B.H.M.;

 

Boss lode, M.S. 839, located in Section 6, T4N, R3E, B.H.M.;

 

Big Sam, Francis, Marseillase, Minnie, Ruby Hill and Glenwood
lodes, M.S. 930, located in Section 7, T4N, R3E, B.H.M.;

 

South Lyon lode, M.S. 935, located in Section 6, T4N, R3E, B.H.M.;

 

Argenta, Glyn, Lemans, Oro and Oro Fraction lodes, M.S. 1109,
located in Sections 12 a nd 13, T4N, R2E, BH.M.;

 

West Wedge Fraction, West End, Jackson, Moonlight, Sunrise,
Sunset Fraction, Lizzie lodes, M.S. 1114, located in Section 12, T4N, R2E, and Section 7, T4N, R3E, B.H.M.;

 

Camden, Ford and Georgia lodes, M.S. 1141, located in Sections 34 and
35, T5N, R2E, B.H.M.;

 

Blue and Rocky Lynn lodes, M.S. 1168, located in Section 34, T5N, R2E,
B.H.M.;

 

Buffalo, Deadwood, Link Fraction, May lodes, M.S. 1283, located
in Section 33, T5N, R2E, B.H.M.;

 

Cardinal and Longpoint Fraction lodes, M.S. 1288, located in Section
25, T5N, R2E, B.H.M.;

 

Ames, Ames Fraction, Cloud, Dick, Ester, Lightning, Thunder
lodes, M.S. 1289, located in Sections 27 and 28, T5N, R2E, B.H.M.;

 

James G. Blaine, M.S. 1349, located in Section 34, T5N, R2E, B.H.M.;

 

Loyd lode, M.S. 1468, located in Sections 33 and 34, T5N, R2E, B.H.M.;

 

Genessee, Grenada, Peerless, Trenton lodes, M.S. 1616, located in Section
4, T4N, R2E, B.H.M.;

 

Snorter and Snorter Fraction lodes, M.S. 1643, located in Sections
33 and 34, T5N, R2E, B.H.M.;

 

Maid of Erin, Telegram, Gannon, B&M Fraction lodes, M.S.
1659, located in Sections 33 and 34, T5N, R2E, and Section 3, T4N, R2E, B.H.M.;

 

Belligerent, Belligerent Fraction, Belligerent No. 3, Belligerent No.
4, Bull Hill Fraction lodes, M.S. 1673, located in Sections 27 and 34, T5N, R2E, B.H.M.;

 

Marconi lode, M.S. 1792, located in Section 31, T5N, R3E, B.H.M.;

 

    A-4

     

    

 

EXHIBIT B

TO

DEED

 

OPERATING PARAMETERS AND INDEMNITY

 

ARTICLE I.

DEFINITIONS

 

1.1       Certain Defined Terms.
For purposes of these Operating Parameters and Indemnity, except where the context otherwise requires, the following capitalized terms
have the following meanings:

 

“Administrative Agent” means the Grantee.

 

“Affiliate”
means, with respect to any Person, any other Person that directly or indirectly, through one of more intermediaries, controls, is controlled
by, or is under common control with, such Person. For purposes of this definition, “control” means the possession, directly
or indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership
of voting securities, by contract or otherwise.

 

“Business Day”
means any day except Saturday, Sunday or any other day on which commercial banks located in Vancouver, British Columbia, Toronto, Ontario
or Reno, Nevada are closed for business.

 

“Claim”
means any action, arbitration, cause of action, claim, counterclaim, demand, dispute, grievance, mediation, injunction, investigation,
notice of violation, obligation, order, stay, suit or other proceeding.

 

“Corporate Reorganization” has the meaning
set forth in Section 3.1.

 

“Cure Notice” has the meaning set forth
in Section 2.5(a).

 

“Cure Notice Period” has the meaning set
forth in Section 2.5(a).

 

“Cure Period” has the meaning set forth
in Section 2.5(a).

 

“Default Cure Plan” has the meaning set
forth in Section 2.5(a).

 

“Default Notice” has the meaning set forth
in Section 2.5(a).

 

“Environmental
Law” means all applicable Laws relating to the protection of human health and safety, the environmental, or to hazardous or
toxic substances or wastes, pollutants or contaminants (including Hazardous Materials).

 

“Event of Default” has the meaning set
forth in Section 2.5.

 

    B-1

     

    

 

“Governmental
Authority” means: (a) any domestic or foreign government, whether national, federal, provincial, state, territorial,
municipal or local (whether administrative, legislative, executive or otherwise); (b) any agency, authority, ministry, department,
regulatory body, court, central bank, bureau, board or other instrumentality having legislative, judicial, taxing, regulatory,
prosecutorial or administrative powers or functions of, or pertaining to, government; (c) any court, commission, individual
arbitrator, arbitration panel or other body having adjudicative, regulatory, judicial, quasi-judicial, administrative or similar
functions; or (d) any other body or entity created under the authority of or otherwise subject to the jurisdiction of any of the
foregoing, including any stock or other securities exchange or professional association .

 

“Governmental Filings” has the meaning
set forth in Section 2.1(c).

 

“Grantor Regulatory Rights” has the meaning
set forth in Section 2.4(b).

 

“Hazardous
Material” means any pollutant, contaminant, constituent, chemical, mixture, raw material, intermediate product, finished product
or by-product, hydrocarbon or any fraction thereof, or industrial, solid, toxic, radioactive, infectious, disease-causing or hazardous
substance, material, waste or agent, including all substances, materials, or wastes, the presence and amount of which is regulated by
any Governmental Authority under any Environmental Law, or which may threaten life, health or property or adversely affect the environment.

 

“Indemnifiable Claim” means a Claim arising
pursuant to an Indemnification Obligation.

 

“Indemnification Obligations” has the
meaning set forth in Section 4.1(a).

 

“Indemnified Parties” means the
Grantor and its Affiliates, and its and their respective Representatives, and “Indemnified Party” means any one
of them.

 

“Indemnitors” the Grantee and the Guarantor.

 

“Indemnitor
Parties” means, collectively, each of the Indemnitors and their respective Affiliates and its and their respective Representatives
and “ Indemnitor Party” means any one of them.

 

“Inspection Right” has the meaning set
forth in Section 2.4(a).

 

“Laws”
means any statute, law, ordinance, regulation, rule, code, order, constitution, treaty, common law, judgment, decree, formal interpretation,
or other requirement or rule of law of any Governmental Authority.

 

“Loss”
means, in respect of any matter, all claims, demands, proceedings, losses, damages, liabilities, deficiencies, fines, costs and expenses
(including reasonable legal and other professional fees and disbursements, interest, penalties and amounts paid in settlement but excluding
punitive, exemplary, aggravated damages, lost opportunity damages and loss of profits), injuries and judgments arising directly or indirectly
as a consequence of such matter.

 

“Mines”
means the area within the circumambient boundaries of the Mining Property, commonly known as the Homestake mines, as depicted on the Mine
Maps.

 

    B-2

     

    

 

“Mine Maps”
means the maps as of the Effective Date, attached as Schedule I, and includes the descriptions of the Mining Property.

 

“Mining Industry
Best Practices” means the best practices; methods; specifications; licensing requirements; standards of care, skill, diligence,
safety and performance; environmental health and safety standards (including the use of certified or third party verified environmental
management systems and adherence to the International Council on Mining and Metals guiding principles, or such other established industry
standards as may be agreed in writing by the Parties from time to time); and acts generally engaged in or observed by recognized and experienced
international mining companies, as in effect from time to time for Mining Operations, which are consistent with good judgment, reliability,
and safety, all in compliance with applicable Permits (including the Operating Permits) and applicable Laws (including Environmental Laws).

 

“Mining Operations”
means any mining, extracting, producing, handling, milling, leaching, beneficiation or other processing of ores; activities directed toward
ascertaining the existence, location, quantity, quality or commercial value of mineral deposits, including drilling required after discovery
of potentially commercial mineralization; any preparation for the removal and recovery of minerals, in-fill drilling, preparation of order
of magnitude studies, pre-feasibility studies, feasibility studies, pre-production stripping, stripping and the construction or installation
of any mill, leach facilities, or any other improvements to be used for the mining, extracting, producing, handling, milling, leaching,
beneficiation or other processing of ores; actions performed during or after the foregoing to comply with the requirements of all Environmental
Laws or contractual commitments related to reclamation of the Mining Property or other compliance with Environmental Laws; and the attendant
reclamation and remediation and closure upon completion of the foregoing, including obligations or responsibilities that are reasonably
expected to or actually continue or arise, such as, without limitation, future monitoring, management, treatment or stabilization.

 

“Notice of Claim” has the meaning set
forth in Section 4.2(b)(i).

 

“Operating Parameters” has the meaning
set forth in Section 2.2(b).

 

“Operating Parameters
and Indemnity” means the Operating Parameters and Indemnity set forth in this Exhibit B, and any exhibits, schedules
and addenda referenced herein or attached hereto, as the same may be amended or modified from time to time as set forth herein.

 

“Operating Permits” means the Permits
set forth in Schedule II.

 

“Operating Records” has the meaning set
forth in Section 2.1(b).

 

“Operational Default” has the meaning
set forth in Section 2.5(a).

 

“Parties” means any combination of the
Grantor, the Grantee and the Guarantor.

 

“Party” means any one of the Grantor,
the Grantee or the Guarantor.

 

“Permit Modification Notice” has the meaning
set forth in Section 2.3.

 

    B-3

     

    

 

“Permit Modifications” has the meaning
set forth in Section 2.3.

 

“Permits”
means any permit, license, approval, consent, ruling, authorization, certification, concession, exemption, variance, notification, waiver,
clearance or registration by or with a Governmental Authority or other third parties.

 

“Person”
means any individual, corporation or company with or without share capital, partnership, joint venture, association, trust, unincorporated
organization, trustee, executor, administrator or other legal personal representative, Governmental Authority or entity however designated
or constituted.

 

“Release”
means any spill, discharge, leak, emission, injection, escape, dumping, leaching, dispersal, disposal, emanation, migration or release
of any Hazardous Materials into the environment, including abandonment or discard of barrels, containers, tanks or other receptacles containing
or previously containing any Hazardous Materials, or the recycling of Hazardous Materials.

 

“Release Obligations” has the meaning
set forth in Section 4.1(a).

 

“Representatives”
means, with respect to any Person, any and all directors, officers, members, managers, employees, consultants, financial advisors, counsel,
accountants and other agents of such Person.

 

“Transfer”
means to, directly or indirectly, sell, transfer, assign, convey, dispose or otherwise grant a right, title or interest (including a joint
venture interest or an expropriation or other transfer required or imposed by Law or any Governmental Authority, whether voluntary or
involuntary), or to abandon, surrender or otherwise relinquish a right, title or interest.

 

“Uncured Operational Default” has the
meaning set forth in Section 4.5.

 

 1.2        Rules of Construction.

 

 (a)       In these Operating Parameters and Indemnity:

 

(i)        unless the context otherwise
clearly requires, (A) references to the plural include the singular, and references to the singular include the plural, (B) references
to one gender include the other gender, (C) the words “include,” “includes,” and “including” do not
limit the preceding terms or words and shall be deemed to be followed by the words “without limitation,” (D) the terms “hereof,”
 “herein,” “hereunder,” “hereto,” and similar terms refer to this entire Operating Parameters and Indemnity
and not to any particular provision of this Operating Parameters and Indemnity, unless the provision otherwise provides, (E) “or”
is used in the inclusive sense of “and/or,” (F) if a word or phrase is defined, then its other grammatical or derivative forms
have a corresponding meaning; (G) a reference to Law or a statute, code, act, legislation, or to a provision thereof includes a modification,
amendment, or substitution thereof or any successor Law, the rules and regulations promulgated thereunder, and the formal interpretations
issued in accordance therewith; and (H) unless otherwise specified, the terms “day” and “days” mean and refer
to calendar day(s);

 

    B-4

     

    

 

(ii)       unless otherwise specified,
any reference to any document, instrument or agreement (including a reference to these Operating Parameters and Indemnity) (A) includes
and incorporates all exhibits, schedules, and other attachments thereto, (B) includes and incorporates all documents, instruments, deeds,
or agreements issued or executed in connection therewith or in replacement thereof, and (C) means such document, instrument, deed, or
agreement, or replacement or predecessor thereto, as amended, modified, or supplemented from time to time in accordance with its terms
and in effect at any given time (except to the extent prohibited by these Operating Parameters and Indemnity or such other agreement or
document);

 

(iii)      unless otherwise specified,
all references to articles, sections, schedules and exhibits are to the Articles, Sections, Schedules, and Exhibits of th ese Operating
Parameters and Indemnity; and

 

(iv)      the headings of these
Operating Parameters and Indemnity are for reference purposes only and shall not affect in any way the meaning or interpretation of th
ese Operating Parameters and Indemnity.

 

(b)       The Parties acknowledge
that they and their respective legal counsel have reviewed and participated in negotiating and settling the terms of these Operating Parameters
and Indemnity and agree that no inference shall be drawn in favor of or against any Party by virtue of the fact that they or their respective
legal counsel were or were not principally responsible for drafting these Operating Parameters and Indemnity.

 

(c)       The following
Schedules are attached to, and form an integral part of, these Operating Parameters and Indemnity:

 

	Schedule I	-	Mine Maps
	Schedule II	-	Operating Permits

 

ARTICLE II.

MINING OPERATIONS

 

2.1        Indemnitor
Responsibilities.

 

(a)       The Indemnitor Parties
are solely responsible and liable for all Mining Operations at the Mines, and an Indemnitor Party shall at all times be the operator under
applicable Laws. No Indemnified Party is, or shall be considered to be, an operator under applicable Laws or otherwise involved in any
Mining Operations at the Mines. The Indemnitors shall not, and shall cause the Indemnitor Parties not to, bring any Claim against any
one or more of the Indemnified Parties alleging that any one or more of such Indemnified Parties is an operator of the Mines based on
any activities undertaken by one or more of the Indemnified Parties pursuant to these Operating Parameters and Indemnity, or under applicable
Laws.

 

(b)       The
Indemnitor Parties shall maintain complete and accurate records of Mining Operations at the Mines in accordance with Mining Industry
Best Practices (the “ Operating Records”).

 

    B-5

     

    

 

(c)       The Indemnitors, acting
through the Administrative Agent, shall provide to the Grantor promptly, and in any event within five Business Days of the triggering
event referred to below: (i) copies of material filings with, or correspondence from, all Governmental Authorities, related directly or
indirectly to the Permits (including Operating Permits) for Mining Operations at the Mines; and (ii) written notice of (A) any Release,
or threatened Release; (B) any contamination or threat to the environment, or human health and safety at the Mines that requires a notice
or filing with a Governmental Authority, together with a copy of any such filing; and (C) copies of any filings or correspondence directly
or indirectly related to any Claims or potential Claims alleged by a Governmental Authority or Losses imposed by a Governmental Authority
(“Governmental Filings”).

 

2.2        Operating
Parameters.

 

(a)       The Indemnitor
Parties shall conduct Mining Operations at the Mines, or cause Mining Operations at the Mines to be conducted, in accordance with Mining
Industry Best Practices.

 

(b)       In addition to conducting
Mining Operations in compliance with Mining Industry Best Practices, the Indemnitor Parties shall conduct Mining Operations, or cause
Mining Operations to be conducted, at the Mines in compliance with the following (the “ Operating Parameters”):

 

(i)         The Indemnitor
Parties shall comply with Mining Industry Best Practices with regard to environmental health and safety (such as the use of certified
or third party verified environmental management systems and adherence to the International Council on Mining and Metals guiding principles);

 

(ii)        The
Indemnitor Parties shall comply with applicable Environmental Laws;

 

(iii)       The Indemnitor
Parties shall exercise due care consistent with Mining Industry Best Practices in the handling, management, acquisition, disposal, generation,
recycling, use and sale of Hazardous Materials; and

 

(iv)       The Indemnitor
Parties shall not conduct Mining Operations at the Mines that will negatively affect the geotechnical stability of the open cut or the
adjacent underground workings at the Mines.

 

2.3        Modification of Operating
Parameters. Subject to the Grantor Regulatory Rights and the Indemnitor Parties’ compliance with their obligations relating
to the Permit Modification Notice and the Inspection Rights, the Indemnitor Party conducting Mining Operations at the Mines may apply
for additional Permits, or seek approval to modify or amend the Operating Permits, from Government Authorities having jurisdiction over
the Mining Operations at the Mines (the “Permit Modifications”); provided that the Administrative Agent shall
provide the Grantor not less than 30 days’ written notice (the “Permit Modification Notice”) prior to the submission
of any request for Permit Modifications, which Permit Modification Notice shall include a copy of the proposed submission(s) to the relevant
Governmental Authorities requesting approval of the Permit Modifications.

 

    B-6

     

    

 

2.4        Grantor Rights.

 

(a)       Any one or more of
the Indemnified Parties shall have the right, but not the obligation, to access the Operating Records in order to verify that Mining
Operations at the Mines comply with Mining Industry Best Practices and the Operating Parameters, and to exercise their respective
Grantor Regulatory Rights (the “Inspection Right”). The Indemnitor Parties shall ensure that the Indemnified
Parties are able to exercise the Inspection Right during normal operating hours on working days at the expense of the Indemnified
Parties and in a manner that does not unreasonable hinder, delay, or interfere with the Indemnitor Parties’ operations,
provided that the Indemnified Parties shall deliver five days’ prior written notice to the Administrative Agent before
exercising the Inspection Right. In addition, any Inspection Right related to the Mining Operations at the Mines and the Operating
Parameters will be conducted in accordance with applicable health and safety standards for the Mines.

 

(b)      To the extent that
the Grantor determines, in its sole and absolute discretion, that any proposed Permit Modification or any proposed modification to
the Operating Parameters represents a material risk to an Indemnified Party, any one or more of the Indemnified Parties shall have
the unfettered right to make submissions to the relevant Governmental Authorities in respect of each application for additional
Permits and each request for a Permit Modification, and exercise any other rights available to such Indemnified Parties under
applicable Law (including injunctive rights), as applicable, in their sole and absolute discretion (the “ Grantor
Regulatory Rights”). The Indemnitors shall not assert, and shall cause the Indemnitor Parties (including the
Administrative Agent) not to assert, that any Indemnified Party owes any duty to the Indemnitors, any of the Indemnitor Parties or
any other Person, or otherwise is restricted or prohibited in any way from exercising the Grantor Regulatory Rights or otherwise
acting in the best interests of any such Indemnified Party in connection with the exercise of any of the Grantor Regulatory
Rights.

 

(c)       The Indemnified
Parties may use any non-public information obtained pursuant to the Inspection Rights to confirm compliance by the Indemnitor Parties
under these Operating Parameters and Indemnity and in furtherance of the exercise of the Grantor Regulatory Rights, and shall not use
such non-public information for any other purpose.

 

2.5         Default. The
occurrence of any one or more of the following events shall constitute a default under these Operating Parameters and Indemnity (as applicable,
an “Event of Default”):

 

(a)      
the Indemnitor Parties fail to conduct, or fail to have conducted, Mining Operations at the Mines in accordance with Mining Industry
Best Practices and the Operating Parameters in all material respects (an “Operational Default”) and such failure
continues for a period of 45 days (the “Cure Period”) after receipt of written notice of such failure from the
Grantor to the Administrative Agent (a “Default Notice”); provided that, (i) the Administrative Agent
shall inform the Grantor in writing (the “Cure Notice”) within 48 hours of receipt off a Default Notice (the
 “Cure Notice Period”) of the intent of the Indemnitor Parties to cure the Operational Default within the Cure
Period, and (ii) if the Indemnitor Parties, using diligent efforts, cannot cure any such Operational Default within the Cure Period,
then the Indemnitor Parties shall take meaningful steps beginning on the date of the Default Notice to cure such Operational Default
as quickly as possible and provide to the Grantor with the Cure Notice a detailed written plan as to the steps the Indemnitor
Parties will take to cure such Operational Default and the time period in which such Operational Default will be cured (the
 “Default Cure Plan”), which Default Cure Plan is acceptable to the Grantor, acting reasonably;

 

    B-7

     

    

 

(b)       the Indemnitor Parties fail to cure
an Operational Default in accordance with the applicable Default Cure Plan;

 

(c)       any of the Indemnitor
Parties seeks to prohibit any of the Indemnified Parties from exercising its Inspection Right or Grantor Regulatory Rights;

 

(d)       any of the Indemnitor
Parties refuses any of the Indemnified Parties access to the Operating Records in contravention of Section 2.4(a);

 

(e)       the Indemnitors
undertake, or attempt to undertake, a Corporate Reorganization in contravention of Section 3.1;

 

(f)        the Indemnitors, or either
of them, transfers all or any portion of the Mining Property in contravention of Section 3.2;

 

(g)       the Indemnitors, or either of them,
abandons, or takes action to abandon, any Mining Property in contravention of Section 3.3;

 

(h)       the Grantor,
acting reasonably, determines that the Indemnitor Parties are unable or unwilling to perform any one or more of their Indemnification
Obligations; or

 

(i)        (A) any one or more
of the Indemnitor Parties seeks voluntary relief under any applicable federal or state debtor relief laws; (B) an involuntary case
is commenced against any one or more of the Indemnitor Parties under any applicable federal or state debtor relief laws and such
case is not dismissed with prejudice within 60 days after its filing; (C) any one or more of the Indemnitor Parties is declared
insolvent or unable to pay its debts as the same become due; (D) any one or more of the Indemnitor Parties commences dissolution or
liquidation proceedings; or (E) a receiver, liquidator, judicial manager, sequestrator, trustee, custodian or other officer having
similar powers is appointed with respect to such Indemnitor Party or its assets.

 

Upon the occurrence and during the continuance
of an Event of Default, the Grantor, in addition to any rights set forth herein, may seek any and all remedies available to it at law
or in equity.

 

2.6        Relationship of the
Parties. Nothing in these Operating Parameters and Indemnity shall create or be deemed to create a relationship of employer and employee,
joint venture or partnership between the Indemnified Parties or the Indemnitor Parties for any purpose whatsoever. Nothing in these Operating
Parameters and Indemnity shall create a relationship of principal and agent between the Indemnified Parties or the Indemnitor Parties.
Nothing in th ese Operating Parameters and Indemnity shall be construed to allege that any Indemnified Party is an operator of the Mines
under applicable Laws. No Party shall have the authority to bind or obligate the other Parties in any manner as a result of the relationship
created hereby.

 

    B-8

     

    

 

ARTICLE III.

TRANSFER AND ABANDONMENT

 

3.1        Preservation of Corporate
Structure. Subject to Section 3.2, the Indemnitors shall not consolidate, amalgamate with, or merge with or into, or Transfer
all or substantially all of its assets to, or reorganize, reincorporate or reconstitute into or as another entity (each a “Corporate
Reorganization”) without the prior written consent of the Grantor unless at the time of such Corporate Reorganization, the resulting,
surviving or transferee entity: (i) assumes in favor of the Indemnified Parties all the obligations of the Indemnitors under these Operating
Parameters and Indemnity in an instrument in writing satisfactory to the Grantor, acting reasonably; and (ii) has the financial capability
to satisfy the obligations of the Indemnitors pursuant to these Operating Parameters and Indemnity, as determined to the satisfaction
of the Grantor, acting reasonably.

 

3.2         Limitations on Transfer.
The Indemnitor Parties shall not Transfer, in whole or in part, the Mining Property without the prior written consent of the Grantor,
unless the Person to whom or to which such Mining Property are Transferred: (a) agrees to conduct Mining Operations at the Mines pursuant
to Mining Industry Best Practices and in accordance with the Operating Parameters; (b) assumes in favor of the Indemnified Parties all
or its proportionate share thereof based on its relative interest in the Mining Property of the obligations of the Indemnitors under these
Operating Parameters and Indemnity in instruments in writing satisfactory to the Grantor, acting reasonably; (c) has the financial capability
to conduct Mining Operations at the Mines pursuant to Mining Industry Best Practices and in accordance with the Operating Parameters and
to satisfy its obligations under these Operating Parameters and Indemnity, as determined to the reasonable satisfaction of the Grantor;
and (d) the ultimate parent company of such transferee assumes in favor of the Indemnified Parties all or its proportionate share of the
obligations of the Indemnitor Parties under these Operating Parameters and Indemnity based on its relative interest in the Mining Property.
Any Transfer of all or any portion of the Mining Property in contravention of this Section 3.2 shall be void ab initio.

 

3.3        Abandonment.
Subject to Section 6.1, the Indemnitor Parties may abandon any Mining Property that no longer are deemed beneficial for Mining
Operations at the Mines upon not less than 30 days’ prior written notice to the Grantor.

 

ARTICLE IV.

RELEASE AND INDEMNITY

 

4.1         Release.

 

(a)      
Each Indemnitor, jointly and severally, on its behalf and on behalf of the Indemnitor Parties hereby unconditionally and irrevocably
forever RELEASES, DISCHARGES AND ACQUITS the Indemnified Parties from and against all Claims and Losses of whatsoever kind or
nature, under any Law or otherwise, whether accrued or unaccrued, whether known or unknown, whether now existing or that might arise
hereafter, present or future, suspected or unsuspected, asserted or unasserted, foreseen or unforeseen, contingent or fixed,
liquidated or unliquidated, including without limitation any Claims for contribution and/or indemnity, and for all Losses of any
kind or nature, Claims for prejudgment interest, lost profits, consequential damages, exemplary damages, and other expenses or
damages, incurred or to be incurred for, upon, or by reason of any matter, cause or thing arising prior to, on or following the
Effective Date arising out of, in connection with, or in any way related to Mining Operations at the Mines (collectively, the
 “Release Obligations”), regardless of when or how any of the Claims and Losses related to the Release Obligation
arose and notwithstanding their foreseeability or predictability.

 

    B-9

     

    

 

(b)       Each Indemnitor,
jointly and severally, on its behalf and on behalf o f the Indemnitor Parties, hereby unconditionally and irrevocably agrees to indemnify
and hold harmless the Indemnified Parties from and against any and all Claims and Losses of whatsoever kind or nature (including prejudgment
interest, lost profits, consequential damages, exemplary damages) directly or indirectly arising from Claims of any Person (including
any Governmental Authority) relating to any Release Obligations.

 

(c)       Any Indemnified
Party that is named in a Claim that is related to the Release Obligations or pursuant to which indemnification is available under Section
4.1(b) shall have control over the management, prosecution and settlement of such Claim, all at the expense of the Indemnitors.

 

4.2         Indemnity.

 

(a)       Each Indemnitor, jointly
and severally, on its behalf and on behalf of the Indemnitor Parties, hereby unconditionally and irrevocably agrees to indemnify, defend,
and hold harmless the Indemnified Parties from and against any and all Claims and Losses (including prejudgment interest, lost profits,
consequential damages, exemplary damages) directly or indirectly arising from Claims of any Person (including any Governmental Authority),
whenever arising, relating to any one or more of (i) Mining Operations at the Mines (including any failure or alleged failure to conduct
Mining Operations at the Mines in accordance with Mining Industry Best Practices or the Operating Parameters) and (ii) allegations that
any one or more of the Indemnified Parties is or was an operator of the Mine under applicable Law (collectively, the “Indemnification
Obligations”).

 

(b)       The obligation
of the Indemnitor Parties to indemnify, defend and hold harmless the Indemnified Parties for Indemnification Obligations is subject to
the following notice requirements:

 

(i)         An
Indemnified Party seeking indemnification pursuant to an Indemnifiable Claim shall give written notification to the Administrative
Agent of such Indemnifiable Claim (a “Notice of Claim”) promptly upon becoming aware of the Claim or Loss. The Notice of
Claim shall specify with reasonable particularity, to the extent that the information is available, the factual basis for the
Indemnifiable Claim and the amount of the Indemnif iable Claim.

 

(ii)        If
an Indemnified Party fails to provide the Indemnitor with a Notice of Claim promptly as required by Section 4.2(b)(i), then the
Indemnitor Parties shall be relieved of the obligation to pay damages to the extent they can show that they were materially
prejudiced in the defense of the Indemnifiable Claim or in proceeding against a third party who or which would have been liable to
them but for the fact of the delay, but the failure to provide such Notice of Claim promptly shall not otherwise release the
Indemnitor Parties from their obligations under this Section 4.2(b)(ii).

 

    B-10

     

    

 

 

4.3       Indemnification
Procedure.

 

(a)        Subject to Section
4.3(d), upon receiving a Notice of Claim, the Indemnitors, acting through the Administrative Agent, may participate in the investigation
and defense of the Indemnifiable Claim, and may also elect to assume the investigation and defense of the Indemnifiable Claim with counsel
satisfactory to the Indemnified Party, acting reasonably; provided that the Indemnitors shall not have the right to assume such
investigation and defense, and shall pay the reasonable fees and expenses of counsel retained by the Indemnified Party, if the Indemnifiable
Claim involves a Claim that, in the good faith judgment of the Indemnified Party, the Administrative Agent failed or is failing to vigorously
prosecute or defend. The Indemnified Party shall have the right, at its own cost and expense, to participate in the defense of any Indemnifiable
Claim with counsel selected by it subject to the Indemnitor’s right to control the defense thereof (except in the circumstances
described above).

 

(b)         In order to assume
the investigation and defense of an Indemnifiable Claim, the Administrative Agent must give the Indemnified Party written notice of its
election within 20 days of receipt by the Administrative Agent of the Notice of Claim.

 

(c)         Subject to Section
4.3(d), if the Indemnitors assume the investigation and defense of an Indemnifiable Claim:

 

(i)         the Indemnitor Parties
will pay for all reasonable costs and expenses of the investigation and defense of the Indemnifiable Claim except that the Indemnitor
Parties will not, so long as the Administrative Agent diligently conducts such defense, be liable to the Indemnified Party for any fees
of other counsel or any other expenses with respect to the defense of the Indemnifiable Claim, incurred by the Indemnified Party after
the date the Indemnitor validly exercised its right to assume the investigation and defense of the Indemnifiable Claim;

 

(ii)         the Indemnitor
Parties will reimburse the Indemnified Parties for all reasonable costs and expenses incurred by the Indemnified Parties in connection
with the investigation and defense of the Indemnifiable Claim prior to the date the Indemnitors, through the Administrative Agent, validly
exercised its right to assume the investigation and defense of the Indemnifiable Claim; and

 

(iii)
         if the Indemnitors, acting through the Administrative Agent, thereafter fail to defend
the Indemnifiable Claim within a reasonable time, the Indemnified Parties shall be entitled to assume such defense at the Indemnitor
Parties’ cost and expense and the Indemnitors shall be bound by the results obtained by the Indemnified Party with respect to
the Indemnifiable Claim.

 

(d)         Where the
named parties to any Indemnifiable Claim include an Indemnified Party as well as any Indemnitor Party and the Indemnified Party
determines in good faith, based on advice from legal counsel, that joint representation would be inappropriate due to the actual or
potential differing interests between them or there may be one or more legal defenses available to the Indemnified Party which are
different from or in addition to those available to the Indemnitor Parties, and such Indemnified Party notifies the Administrative
Agent in writing that it elects to retain separate counsel, the Indemnitors shall not have the right to assume the defense of such
Indemnifiable Claim on behalf of the Indemnified Party but shall be liable to pay the reasonable fees and expenses of counsel of the
Indemnified Party. In no event, however, shall the Indemnitor Parties be liable hereunder to pay the fees and disbursements of more
than one counsel in any one jurisdiction acting as counsel on behalf of all Indemnified Parties. Throughout the course of any legal
proceeding, to the extent there are not actual or potential conflicts between the Indemnitor Parties and any Indemnified Parties,
the Indemnified Parties and the Indemnitor Parties shall reasonably cooperate with each other in connection with the conduct of the
settlement or defense thereof.

 

    B-11

     

    

 

(e)         If an Indemnified Party
undertakes the defense of the Indemnifiable Claim, the Indemnitor Parties will not be bound by any compromise or settlement of the Indemnifiable Claim effected without the consent of the Indemnitor Parties (which consent may not be unreasonably withheld, conditioned or
delayed).

 

(f)         Neither of the Indemnitor
Parties will be permitted to compromise and settle or to cause a compromise and settlement of a Indemnifiable Claim without the prior
written consent of the applicable Indemnified Party, which consent may not be unreasonably withheld, conditioned or delayed; provided,
however, that no such consent shall be required if:

 

(i)         the terms of the compromise
and settlement require only the payment of money for which the Indemnified Party is entitled to full indemnification under these Operating
Parameters and Indemnity and the Indemnitor Parties agree to timely pay such amount in full; and

 

(ii)         the Indemnified Party
is not required to admit any wrongdoing, take or refrain from taking any action, acknowledge any rights of the Person making the Indemnifiable
Claim or waive any rights that the Indemnified Party may have against the Person making the Indemnifiable Claim.

 

(g)         No Party shall be liable
to pay any amount in discharge of a Claim under these Operating Parameters and Indemnity unless and until the liability in respect of
which the Claim is made has become due and payable.

 

4.4       Nature of
Release and Indemnity.

 

(a)         The Release Obligations
and the Indemnification Obligations given hereunder are freely and voluntarily given and the Parties acknowledge and represent that they
have fully reviewed the terms contained herein, that they are fully informed with respect to the legal effect of the Release Obligations
and the Indemnification Obligations, and that they have voluntarily chosen to accept the terms and conditions.

 

(b)         The Release Obligations
and the Indemnification Obligations shall be read liberally to give the Indemnified Parties the broadest possible protection.

 

4.5         Injunction.
Each of Grantee and Guarantor, on its behalf and on behalf of its Affiliates and its and their respective Representatives, hereby
absolutely, unconditionally and irrevocably stipulate (a) that Grantor will suffer irreparable injury in the event that (i) the
Indemnitor Parties fail to cure an Operational Default within the Cure Period, (ii) the Indemnitor Parties fail to perform under the
approved Default Cure Plan, or (iii) the Administrative Agent fails to provide a Cure Notice with a Default Cure Plan within the
Cure Notice Period in which case the Cure Period shall not apply (each, an “Uncured Operational Default”), as
determined by Grantor in its sole and absolute discretion, acting in good faith; and (b) that, as a result of such failure, (i)
Grantor will succeed on the merits of any claim based on such Uncured Operational Default, (ii) the balance of equities between the
Parties support a claim by Grantor, and (iii) a claim initiated by Grantor is in the public interest. Based on the foregoing, for a
period of 10 years after the commencement of Mining Operations at the Mines, in the event of an Uncured Operational Default,
Grantor, upon five days’ prior written notice to the Administrative Agent, shall have the unrestricted right to file, or have
filed on its behalf, an injunction requiring Grantee to cease, or the cause the cessation of, Mining Operations at the Mines. Each
of Grantee and Guarantor, on its behalf and on behalf of its and their Affiliates and its and their respective Representatives,
hereby absolutely, unconditionally, and irrevocably agree not to oppose such injunction filed by or on behalf of Grantee.
Notwithstanding the foregoing, Grantee and Guarantor reserve the right to contest the continued existence of an Uncured Operational
Default on the merits.

 

    B-12

     

    

 

ARTICLE V.

REPRESENTATIONS

 

Each of the Indemnitors,
severally and not jointly, hereby represents to the Grantor, and the Grantor represents to the Indemnitors, as of the Effective Date that:

 

5.1         Existence.
It is a corporation or limited liability company, as applicable, duly organized, validly existing and in good standing in the jurisdiction
of its organization and has the power and authority to carry on its business as currently conducted and as contemplated to be conducted
under these Operating Parameters and Indemnity, to the extent a party thereto.

 

5.2         Authority. It
has full right, power and authority to enter into and be bound by the terms and conditions of these Operating Parameters and Indemnity,
to the extent a party thereto, and to carry out their respective obligations under these Operating Parameters and Indemnity, to the extent
a party thereto, without the approval or consent of any other individual, corporation, partnership, association, trust or other entity
or organization, including a governmental or political subdivision or any agency or instrumentality thereof.

 

5.3         Enforceability.
It has duly authorized these Operating Parameters and Indemnity, to the extent a party thereto, by all requisite company action. To the
extent a party thereto, these Operating Parameters and Indemnity have been duly executed and delivered and constitute a the legal, valid
and binding obligation, enforceable against it in accordance with its terms, except as such enforceability may be limited by bankruptcy,
insolvency, reorganization, moratorium or similar Laws affecting creditors’ rights generally and by general principles of equity
(regardless of whether enforcement is sought in a proceeding at law or in equity).

 

5.4         Validity.
The entering into these Operating Parameters and Indemnity, to the extent a party thereto, and the carrying out of their respective
obligations hereunder and thereunder are not prohibited, restricted or otherwise limited by any contract, agreement or understanding
entered into by them, or by which any of them is bound, with any other Person.

 

    B-13

     

    

 

5.5         No Conflict.
The execution, delivery and performance of these Operating Parameters and Indemnity, to the extent a party thereto, do not: (i) conflict
with or result in a violation or breach of any provision of its constating documents; or (ii) violate in any material respect any Law
applicable to it.

 

5.6         Governmental Actions.
There is no Claim pending or currently threatened against it which, if adversely determined, would restrict or limit its right to enter
into these Operating Parameters and Indemnity, to the extent a party thereto, or carry out its obligations under these Operating Parameters
and Indemnity, to the extent a party thereto.

 

ARTICLE VI.

MISCELLANEOUS

 

6.1         Real Property Interest.
The Parties intend that the obligations of the Indemnitor Parties to conduct Mining Operations at the Mines in accordance with Mining
Industry Best Practices and the Operating Parameters constitute a valuable right, shall continue during the conduct of Mining Operations
at the Mines by the Indemnitor Parties, and shall constitute a presently vested interest in and a covenant running with the Mining Property
which shall inure to the benefit of and be binding upon the Indemnitor Parties and the Grantor and their respective, successors and assigns.
The obligations of the Indemnitor Parties to conduct Mining Operations at the Mines in accordance with Mining Industry Best Practices
and the Operating Parameters shall attach to any amendments, relocations or conversions of any Mining Property, or to any renewals or
extensions thereof. If the Indemnitor Parties or any successor or assignee of the Indemnitor Parties surrenders, allows to lapse or otherwise
relinquishes or terminates its interest in any of the Mining Property, and reacquires a direct or indirect interest in the land or minerals
covered by the former Mining Property, then from and after the date of such reacquisition such reacquired properties shall be included
in the Mining Property and the obligations of the Indemnitor Parties to conduct Mining Operations at the Mines in accordance with Mining
Industry Best Practices and the Operating Parameters shall apply to such interest so acquired. Indemnitor shall give written notice to
the Administrative Agent within 30 days of any acquisition or reacquisition of an interest in the Mining Property. The Parties do not
intend that there be any violation of the rule against perpetuities. Accordingly, any right that is subject to such rule shall be exercised
within the maximum time periods permitted under applicable Law.

 

6.2         Registration.
To the extent the Grantor is able to do so under applicable Law, the Grantor shall be entitled from time to time and at its sole cost
and expense to register or record notice of its interest in these Operating Parameters and Indemnity against title to the Mining Property
or elsewhere, and the Indemnitor Parties shall cooperate with the Grantor to effect such reasonable registrations and recordings and provide
their written consent, acting reasonably, to any documents in connection therewith and do such other things, at the cost and expense of
the Grantor, as soon as reasonably practicable, as are reasonably necessary to effect any such registrations or recordings.

 

    B-14

     

    

 

6.3             
Expenses. Except as otherwise set forth in these Operating Parameters and Indemnity, all costs and expenses, including, without
limitation, fees and disbursements of counsel, financial advisors and accountants, incurred in connection with these Operating Parameters
and Indemnity shall be paid by the Party incurring such costs and expenses.

 

6.4             
Notices. All notices, requests, consents, claims, demands, waivers and other communications hereunder shall be in writing and shall
be deemed to have been given: (a) when delivered by hand (with written confirmation of receipt), (b) when received by the addressee if
sent by a nationally recognized overnight courier (receipt requested), (c) on the date sent by facsimile or e-mail of a PDF document (with
confirmation of transmission) if sent during normal business hours of the recipient, and on the next Business Day if sent after normal
business hours of the recipient, or (d) when received by the addressee if mailed, by certified or registered mail, return receipt requested,
postage prepaid. Such communications must be sent to the respective parties at the following addresses (or at such other address for a
Party as shall be specified in a notice given in accordance with this Section 6.4):

 

	 	If to Grantor:	 	 Barrick Gold Corporation
	 	 	 	Brookfield Place
	 	 	 	TD Canada Trust Tower
	 	 	 	161 Bay Street, Suite 3700

 P.O. Box 212
	 	 	 	Toronto, Canada M5J 2S1
	 	 	 	Attention: General Counsel 

email: notices@barrick.com
	 	 	 	 
	 	With a copies to:	 	Barrick Gold of North America Inc.
	 	 	 	310 S. Main Street, Suite 1150
	 	 	 	Salt Lake City, Utah 84101
	 	 	 	Attention: Michael McCarthy
	 	 	 	General Counsel (North America)
	 	 	 	email:	 	USLegalNotices@barrick.com

mmccarthy@barrick.com
	 	 	 	 
	 	If to Indemnitors:	 	 c/o Administrative Agent
	 	 	 	Dakota Territory Resource Corporation
	 	 	 	106 Glendale Drive, Suite A
	 	 	 	Lead, South Dakota 57754
	 	 	 	Attention: Jonathan Awde, CEO
	 	 	 	email: jawde@gold-sd.com

 

6.5         Severability. If
any provision of these Operating Parameters and Indemnity is determined by a court of competent jurisdiction to be invalid, illegal or
unenforceable in any respect, all other provisions of these Operating Parameters and Indemnity shall nevertheless remain in full force
and effect so long as the economic or legal substance of the transactions contemplated hereby is not affected in a manner materially adverse
to a Party.

 

    B-15

     

    

 

 

6.6         Entire Agreement.
These Operating Parameters and Indemnity is an essential element of the transactions contemplated in the Purchase Agreement; these Operating
Parameters and Indemnity constitutes valuable consideration under the Purchase Agreement; and the Grantor will realize benefits and economic
advantages from these Operating Parameters and Indemnity. Subject to the foregoing, these Operating Parameters and Indemnity constitutes
the sole and entire agreement of the Parties with respect to the subject matter contained herein and supersedes all prior and contemporaneous
representations, warranties, understandings and agreements, both written and oral, with respect to such subject matter.

 

6.7         Waiver.
No waiver of any provision of these Operating Parameters and Indemnity shall be of any force or effect unless such waiver is in writing,
expressly stating to be a waiver of a specified provision of these Operating Parameters and Indemnity, and is signed by the Party to be
bound thereby. A Party’s waiver of any breach of these Operating Parameters and Indemnity or failure to enforce any of the provisions
of these Operating Parameters and Indemnity, at any time, shall not in any way limit or waive that Party’s right thereafter to enforce
or compel strict compliance with these Operating Parameters and Indemnity or any portion or provision or right under these Operating Parameters
and Indemnity.

 

6.8         Successors
and Assigns. These Operating Parameters and Indemnity shall be binding upon and shall inure to the benefit of the Parties hereto and
their respective successors and permitted assigns. Except as provided in Section 3.2, no Party may assign its rights or obligations
hereunder without the prior written consent of the other Parties.

 

6.9         Beneficiaries.
These Operating Parameters and Indemnity include rights and benefits for the Indemnitor Parties and the Indemnified Parties, and the Parties
will exercise their respective rights and obligations under these Operating Parameters and Indemnity with due consideration for the rights
and benefits of the Indemnitor Parties and the Indemnified Parties. Subject to the foregoing, these Operating Parameters and Indemnity
are for the sole benefit of the Parties and their respective successors and permitted assigns and nothing herein, express or implied,
is intended to or shall confer upon any other Person any legal or equitable right, benefit or remedy of any nature whatsoever under or
by reason of these Operating Parameters and Indemnity.

 

6.10         Amendment and Modification;
Waiver. These Operating Parameters and Indemnity may only be amended, modified or supplemented by an agreement in writing signed by
each Party hereto or, in the case of the Indemnitors, by the Administrative Agent. No waiver by any Party of any of the provisions hereof
shall be effective unless explicitly set forth in writing and signed by the party so waiving or, in the case of the Indemnitors, by the
Administrative Agent. No waiver by any Party shall operate or be construed as a waiver in respect of any failure, breach or default not
expressly identified by such written waiver, whether of a similar or different character, and whether occurring before or after that waiver.
No failure to exercise, or delay in exercising, any right, remedy, power or privilege arising from these Operating Parameters and Indemnity
shall operate or be construed as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder
preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege.

 

    B-16

     

    

 

6.11       Governing
Law; Submission to Jurisdiction.

 

(a)         These Operating Parameters
and Indemnity shall be governed by and construed in accordance with the internal laws of the State of South Dakota without giving effect
to any choice or conflict of law provision or rule (whether of the State of South Dakota or any other jurisdiction).

 

(b)         Any Claim arising out
of or based upon these Operating Parameters and Indemnity or the interpretation thereof may be instituted in the state courts of South
Dakota or the federal courts of the United States, in each case located in Rapid City, South Dakota, and each Party irrevocably submits
to the exclusive jurisdiction of such courts in any such Claim. Service of process, summons, notice or other document by mail to such
Party’s address set forth herein shall be effective service of process for any Claim brought in any such court. The Parties irrevocably
and unconditionally waive any objection to the laying of venue of any Claim in such courts and irrevocably waive and agree not to plead
or claim in any such court that any such Claim brought in any such court has been brought in an inconvenient forum.

 

(c)         EACH PARTY HEREBY IRREVOCABLY
WAIVES ALL RIGHTS TO A JURY TRIAL IN ANY ACTION, SUIT, OR PROCEEDING OF ANY KIND DIRECTLY OR INDIRECTLY ARISING OUT OF OR IN ANY WAY
RELATING TO THESE OPERATING PARAMETERS AND INDEMNITY. THE JURY TRIAL WAIVER CONTAINED IN THESE OPERATING PARAMETERS AND INDEMNITY IS
INTENDED TO APPLY, TO THE FULLEST EXTENT PERMITTED BY LAW, TO ANY AND ALL DISPUTES AND CONTROVERSIES THAT ARISE OUT OF OR IN ANY WAY
RELATE TO ANY OR ALL OF THE MATTERS DESCRIBED IN THE PRECEDING SENTENCE, INCLUDING WITHOUT LIMITATION CONTRACT CLAIMS, TORT CLAIMS, AND
ALL OTHER COMMON LAW AND STATUTORY CLAIMS OF ANY KIND. THESE OPERATING PARAMETERS AND INDEMNITY MAY BE FILED WITH ANY COURT OF COMPETENT
JURISDICTION AS A PARTY’S WRITTEN CONSENT TO SUCH PARTY’S WAIVER OF A JURY TRIAL.

 

6.12         Specific Performance.
The Parties hereby agree that irreparable damage would occur in the event that any provision of these Operating Parameters and Indemnity
are not performed in accordance with its specific terms or is otherwise breached, and that money damages or other legal remedies would
not be an adequate remedy for any such damages. Accordingly, the Parties acknowledge and hereby agree that in the event of any breach
or threatened breach by any Party of any of its covenants or obligations set forth in these Operating Parameters and Indemnity, the other
Parties shall be entitled to injunctive relief to prevent or restrain breaches or threatened breaches of these Operating Parameters and
Indemnity by the other, and to specifically enforce the terms and provisions of these Operating Parameters and Indemnity to prevent breaches
or threatened breaches of, or to enforce compliance with, the covenants and obligations of the other under these Operating Parameters
and Indemnity. Each of the Parties hereby agrees not to raise any objections to the availability of the equitable remedy of specific performance
to prevent or restrain breaches or threatened breaches of these Operating Parameters and Indemnity by it, and to specifically enforce
the terms and provisions of these Operating Parameters and Indemnity to prevent breaches or threatened breaches of, or to enforce compliance
with, the covenants and obligations of the other parties under these Operating Parameters and Indemnity.

 

6.13         Further
Assurances. The Parties shall each do, or cause to be done, any such further acts, or execute and deliver, or cause to be
executed and delivered, such further documents as may be reasonably necessary for their respective performance under these
Operating Parameters and Indemnity.

 

    B-17

     

    

 

6.14         Administrative
Agent. The
Indemnitors hereby appoint Grantee as the Administrative Agent of the Indemnitors under these Operating Parameters and Indemnity, and
each Indemnitor hereby authorizes the Grantee to act on behalf of each such Indemnitor as its Administrative Agent in accordance
with the terms of these Operating Parameters and Indemnity. The Grantee hereby agrees to act as the Administrative Agent of the Indemnitors
as set forth in these Operating Parameters and Indemnity. The Grantor Parties hereby acknowledge and agree that the Grantee is acting
as the Administrative Agent of the Indemnitors under these Operating Parameters and Indemnity. The Indemnitors may replace the Administrative
Agent upon written notice to the Grantor.

 

6.15.         Benefits of Guarantor. Guarantor
will realize benefits and economic advantages arising from the conduct of Mining Operations at the Mines.

 

    B-18

     

    

 

SCHEDULE I 

MINE MAP

 

 

 

    I-1

     

    

 

SCHEDULE II

OPERATING PERMITS

 

	PERMIT
    TYPE	PERMIT	PERMIT	ISSUE/	RESPONSIBLE
	 	NUMBER	HOLDER	APPROVAL	AGENCY
	 	 	 	DATE	 
	 	 	Homestake Mining	July-1988	SD DANR
	Mining Permit	332	Company of	 	 
	 	 	California	 	 
	 	 	Homestake Mining	May-1992	SD DANR
	Mining Permit	456	Company of	 	 
	 	 	California	 	 
	 	 	Homestake Mining	Jan-1988	Lawrence
	Conditional Use Permit	124	Company of	 	County, SD
	 	 	California	 	 
	 	 	Homestake Mining	June-1990	Lawrence
	Conditional Use Permit	144	Company of	 	County, SD
	 	 	California	 	 

 

    II-1

     

    

 

EXHIBIT E

ROYALTY DEED

 

(See Attached)

 

    E-1

     

    

 

	APN #: N/A (mineral royalty interest)	 
	 	 
	Prepared by:	 
	 	 
	Parsons Behle & Latimer	 
	201 South Main Street	 
	Salt Lake City, Utah	 
	84111	 
	(801)532-12234	 
	 	 
	Mail Tax Statement to: N/A	 
	 	 
	(mineral royalty interest)	 

 

 Space above for County Recorder’s Use

 

Pursuant to South Dakota Codified Laws
43-28-24 thru 43-28-28 inclusive: this Deed does not contain any individual’s personally identifiable information.

 

NET SMELTER RETURNS ROYALTY DEED

 

This Net Smelter Returns
Royalty Deed (this “Deed”), executed to be effective as of [DATE], 2021(“Effective Date”) is from
Dakota Territory Resource Corp, a Nevada corporation (“Grantor”), the address of which is 106 Glendale Drive, Suite
A, Lead, South Dakota 57754, to Homestake Mining Company of California, California corporation (“Grantee”), the address
of which is 310 S. Main Street, Suite 1150, Salt Lake City, Utah 84101. Grantor and Grantee sometimes are referred to in this Deed individually
as a “Party” and collectively as the “Parties.”

 

RECITALS

 

A.       Grantor owns fee lands
and patented mining claims (collectively, the “Mining Property”) located in Lawrence County, South Dakota. The Mining
Property is more particularly described in Exhibit A to this Deed.

 

B.        Pursuant to that certain
Asset Purchase Agreement (the “Agreement”) made and entered into as of the Effective Date, by and between Grantor and
Grantee, Grantor is required to execute, acknowledge and deliver to Grantee an instrument granting to Grantee a Net Smelter Returns Royalty
on all gold and other minerals of any type produced from the tailings facility located on the Mining Property and from dumps or stockpiles
located on the Mining Property (referred to as the “Royalty Property”), from and after the Effective Date.

 

C.        Grantor executes
and delivers this Deed to Grantee pursuant to the terms of the Agreement.

 

     

     

    

 

CONVEYANCE

 

1.       Grant
of Royalty.

 

(a)        Royalty Percentage.
For good and valuable consideration, the receipt and sufficiency of which are acknowledged by the Parties, Grantor grants, assigns, conveys
and agrees to pay to Grantee, and its successors and assigns, forever, a Royalty equal to 2.5% of Net Smelter Returns (the “Royalty
Percentage”), as hereinafter defined and computed, for all gold and other minerals of any type produced from the Royalty Property,
from and after the Effective Date (the “Royalty”), subject to Section 1(b). For the purpose of clarity, the
Royalty shall only apply to gold and other minerals of any type produced from the Royalty Property and not the underlying Mining Property
on which the Royalty Property is located.

 

(b)        No Buy Down. Grantor will not
have the right to buy down all or any portion of the Royalty.

 

2.       Representations
and Warranties.

 

(a)        Full Authority.
Grantor represents and warrants that as of the date hereof it has all authority necessary for it to execute and deliver this Deed.

 

(b)        No Encumbrances.
Grantor represents and warrants that it has not taken any action by which the Royalty Property, will be subject to a lien or other encumbrance
that will in any way be a lien or other encumbrance on the Royalty.

 

(c)        Grantee’s
Acceptance. Grantee acknowledges and agrees that this Deed is accepted by Grantee in satisfaction of Grantor’s obligation to
deliver this Deed pursuant to the Agreement.

 

3.       Definition
of Net Smelter Returns.

 

(a)        For Gold Bullion.
 “Net Smelter Returns,” for gold produced from the Royalty Property, and refined by or for Grantor to a form that meets
good delivery standards in the London Bullion Market or comparable terminal market (“Gold Bullion”), will be determined
by multiplying (i) the gross number of troy ounces of Gold Bullion produced from the Royalty Property, and returned to or credited to
Grantor or purchased and paid for by a smelter, refiner, processor, purchaser or other recipient of such bullion during a calendar quarter,
by (ii) the arithmetic average of the London Bullion Market Association P.M. Fixing Price (in United States dollars) reported on its website
for Gold Bullion for the calendar quarter (or should such quotation cease, another similar quotation acceptable to Grantee, acting reasonably)
calculated by summing the quoted prices reported for each day of the calendar quarter and dividing the sum by the number of days for which
such prices were reported, and (iii) by deducting from the product of (i) times (ii), the Allowable Deductions permitted in Section
4(a) below.

 

(b)        For Other
Products. For gold and other minerals of any type produced from the Royalty Property, and sold in a crude or intermediate form
other than as Gold Bullion (“ Other Products”), Net Smelter Returns will be equal to (i) the actual sales price
for the minerals contained in such Other Products received by Grantor from a smelter, refiner, processor, purchaser or other
recipient of such products during a calendar quarter, less (ii) the Allowable Deductions permitted in Section 4(b) below.

 

    2

     

    

 

(c)        Affiliate Transactions.
If Other Products are delivered in kind or sold to an entity which, under the broadest definition, directly or indirectly controls, is
controlled by, or is under common control with Grantor (an “Affiliate”), and are sold by such Affiliate with or without
further processing, Net Smelter Returns will be calculated based on the value of Gold Bullion sold by or credited or returned to the Affiliate
(calculated pursuant to Subsection 3(a)), or the proceeds actually received by such Affiliate in an arm's length transaction for sale
of Other Products, less Allowable Deductions actually incurred by the Affiliate, and the Gold Bullion or Other Products will be deemed
to have been sold by Grantor, the proceeds will be deemed to have been received by Grantor and the Allowable Deductions will be deemed
to have been made by Grantor for purposes of calculating Net Smelter Returns, in each case as if Grantor had sold (or received or was
credited with) such Gold Bullion or Other Products in an arm’s-length transaction.

 

(d)        Insurance
Proceeds. In the event Grantor receives insurance proceeds for gold in Gold Bullion or for gold or other minerals in Other Products
lost or damaged, Net Smelter Returns will equal any such insurance proceeds that are received by Grantor for such loss.

 

4.       Allowable
Deductions.

 

(a)        For Gold Bullion.
For gold produced and sold as Gold Bullion, “Allowable Deductions” means, to the extent actually incurred:

 

(i)        charges imposed by a
smelter or refinery for refining Gold Bullion from doré or concentrates produced in Grantor’s, or a third party’s,
mill or other processing plant; however, charges incurred by Grantor for processing raw or crushed ore or other preliminary products in
Grantor’s mill or other processing plant shall not be subtracted in determining Net Smelter Returns;

 

(ii)        penalty substance,
assaying, and sampling charges imposed on or incurred by Grantor for refining Gold Bullion contained in such production;

 

(iii)        charges and
costs, if any, for transportation and insurance of doré or concentrates produced in Grantor’s mill or other processing plant
to places where such doré or concentrates are smelted, refined and/or sold or otherwise disposed of; and

 

(iv)        all taxes paid
on production of Gold Bullion, except income tax, including but not limited to, production, severance, sales and privilege taxes and all
local, state and federal taxes that are based on the production of Gold Bullion.

 

(b)        For Other Products. For gold and other
minerals of any type produced and sold in Other Products, “Allowable Deductions” means, to the extent actually incurred:

 

(i)        charges imposed by the smelter,
refiner or other processor for smelting, refining or processing gold and other minerals of any type contained in Other Products,but excluding
any and all charges and costs related to Grantor’s, or a third party’s, mill or other processing plant constructed for the
purpose of milling or processing Other Products;

 

    3

     

    

 

(ii)        penalty substance,
assaying, and sampling charges imposed by a smelter, refiner or other processor for smelting, refining, or processing gold and other minerals
of any type contained in Other Products, but excluding any and all charges and costs of or related to Grantor’s mill or other processing
plant constructed for the purpose of milling or processing Other Products;

 

(iii)        charges and
costs, if any, for transportation and insurance of the gold and other minerals of any type contained in Other Products and the beneficiated
products thereof from Grantor’s mill or other processing plant to places where such Other Products or the beneficiated products
thereof are smelted, refined and/or sold or otherwise disposed of; and

 

(iv)        all taxes paid
on production of the gold and other minerals of any type contained in Other Products, except income tax, including but not limited to,
production, severance, sales and privilege taxes and all local, state and federal taxes that are based on the production of gold contained
in Other Products.

 

(c)        Custom Facilities.
In the event Grantor carries out smelting, refining or other processing operations to produce Gold Bullion or gold and other minerals
of any type contained in Other Products in facilities owned or controlled, in whole or in part, by Grantor, which facilities were not
constructed for the sole purpose of smelting, refining or processing crude or intermediate products produced from the Royalty Property,
then charges, costs and penalties for such smelting, refining or processing shall mean the amount Grantor would have incurred as “Allowable
Deductions” under Section 4(a)(i) or Section 4(b)(i) above if such smelting, refining or other processing operations
were carried out at facilities not owned or controlled by Grantor, but in no event will such Allowable Deductions be greater than actual
costs incurred by Grantor with respect to such smelting, refining or other processing.

 

5.       Calculating
and Paying Royalty; Reporting.

 

(a)        Calculation.
The dollar amount of the Royalties due to Grantee for a calendar quarter will be the product of the sum of the Net Smelter Returns for
Gold Bullion plus the Net Smelter Returns for the gold and other minerals of any type contained in Other Products for such quarter multiplied
by the Royalty Percentage.

 

(b)        Payment.
Payment of Royalties for a calendar quarter will be due by the last day of the month following the end of each calendar quarter in
which Gold Bullion or Other Products containing gold and other minerals of any type are sold or returned or credited to Grantor (the
 “Payment Date”). If, for any reason, all information necessary to calculate and make a payment on the Payment
Date is not available, Grantor will make a provisional payment on the Payment Date based on the available information and provide a
final reconciliation for such payment promptly after all needed information becomes available to Grantor. In the event Grantee has
been underpaid in any provisional payment, Grantor will promptly pay the difference to Grantee in cash or other readily available
funds and if Grantee has been overpaid in any provisional payment, Grantee will promptly pay to Grantor the difference in cash or
other readily available funds. All payments of the Royalties will be made by Grantor to Grantee, and will be paid free of any and
all withholding taxes.

 

    4

     

    

 

 

(c)        Detailed Statement.
All payments of Royalty will be accompanied by a detailed statement explaining the calculation thereof together with any available settlement
sheets received by Grantor from the smelter, refiner or other purchaser of Gold Bullion or gold and other minerals of any type contained
in Other Products.

 

6.       Other
Provisions Related to Payment.

 

(a)        Hedging Transactions.
All profits and losses resulting from Grantor’s engaging in any commodity futures trading, option trading, or metals trading, or
any combination thereof, and any other hedging transactions including trading transactions designed to avoid losses and obtain possible
gains due to metal price fluctuations are specifically excluded from calculation of Net Smelter Returns and will be solely for Grantor’s
account.

 

(b)        Commingling.
Grantor will have the right to commingle, either underground, at the surface, in stockpiles or at a mill, autoclave, roaster or other
processing facility used by Grantor, ore or concentrates, minerals and other material mined and removed from the Royalty Property with
ore, concentrates, minerals and other material mined and removed from other property. Before commingling, the average grade of the commingled
materials and other measures as are appropriate will first be calculated by Grantor from representative samples, and the weight of such
materials will be determined before commingling using practices which will be as good as or better than prevailing industry practices.
In obtaining representative samples, calculating the average grade of the ore and average recovery percentages, the procedures used will
be as good as or better than prevailing industry practices . Representative samples of the materials to be commingled will be retained
by Grantor and assays (including moisture and penalty substances) and other appropriate analyses of these samples shall be retained for
a reasonable amount of time, but not less than 18 months, after receipt by Grantee of the applicable royalty payment.

 

(c)        No Obligation to Mine
or Process. Subject to the Agreement, Grantor will have sole discretion to determine the extent of its operations on or for the benefit
of the Royalty Property and the time or the times for development, mining, stockpiling, processing and selling products produced from
the Royalty Property and the suspension or resumption of any operation with respect thereto. Grantor will have no obligation to Grantee
(in its capacity as the holder of this royalty) or otherwise to mine, explore or to conduct any other operation on any of the Royalty
Property.

 

(d)        Lesser
Interest. The Royalty will only be paid on the basis of Grantor’s proportionate share of production of gold and other
minerals of any type from the Royalty Property as the Royalty Property exists as of the Effective Date of this Deed. By way of
illustration, if a portion of the Royalty Property, as of the Effective Date, entitle Grantor to only an undivided 75% interest in
the gold and other minerals of any type produced from such portion of the Royalty Property, then the Royalty will be paid based only
on 75% of the production of gold and other minerals of any type from such portion of the Royalty Property.

 

    5

     

    

 

7.       Books,
Records, Inspections and Confidentiality.

 

(a)        Inspection
of Books and Records. Grantee will have the right, upon reasonable notice to Grantor, to inspect and copy all books, records, technical
data, information and materials (the “Data”) pertaining to calculation of Royalty payments, including those with respect
to commingling; provided that such inspections will not unreasonably interfere with Grantor’s operations. Grantor makes no representations
or warranties to Grantee concerning any of the Data except that the Data will be prepared in good faith and Grantee agrees that if it
elects to rely on any such Data or any other information made available by Grantor, it does so at its sole risk, except in the event of
bad faith or fraud.

 

(b)        Audit. Grantee
will have the right to audit the books and records pertaining to production from the Royalty Property and the calculation of the Royalty
and to contest payments of Royalty for a period of 24 months following receipt by Grantee of each Royalty payment. Each Royalty payment
will be deemed conclusively correct unless Grantee objects to it in writing within 24 months after receipt of such payment, setting forth
in detail the basis for the Grantee’s objection. If it is finally determined, through agreement by the Parties or following completion
of the dispute as set out in Section 7(c) below, that Grantee has been underpaid in any such payment, Grantor will promptly pay
to Grantee the underpaid amount. In addition, if it is finally determined, through agreement by the Parties or following completion of
the dispute as set out in Section 7(c) below, that Royalty payments for any calendar year are underpaid by more than 5%, then Grantor
will reimburse Grantee for its reasonable costs incurred in auditing the books and records of Grantor.

 

(c)       Dispute Resolution.

 

(i)        If Grantee objects
to a Royalty payment in a timely manner as set out in Section 7(b) above, then the Parties will meet within 30 days of Grantor’s
receipt of the Grantee’s objection and, acting in good faith, seek to resolve the dispute. If the Parties fail to resolve the dispute
within 30 days of the initial meeting, the dispute will be referred to the respective chief executive officers (or persons holding analogous positions) of the Parties who will, in good faith, attempt to resolve the dispute within 21 days of such referral. If the chief executive
officers of the Parties are unable to resolve the matter within such 21 -day period, then either Party may submit the dispute to a court
as provided in Section (c)(iii) below.

 

(ii)        If any Party
objects to the performance by the other Party of any obligation arising under this Deed or of its interpretation, the Parties will meet
within 30 days of the receipt by the other Party of the objecting Party’s objection and, acting in good faith, seek to resolve the
dispute. If the Parties fail to resolve the dispute within 30 days of the initial meeting, the dispute will be referred to the respective
chief executive officers (or persons holding analogous positions) of the Parties who will, in good faith, attempt to resolve the dispute
within 21 days of such referral. If the chief executive officers of the Parties are unable to resolve the matter within such 21-day period,
then either Party may submit the dispute to a court as provided in Section (c)(iii) below

 

    6

     

    

 

(iii)        Any dispute arising
out of or based upon this Deed or a Royalty payment or may be instituted in the state courts of South Dakota or the federal courts of
the United States, in each case located in Rapid City, South Dakota, and each Party irrevocably submits to the exclusive jurisdiction
of such courts. Service of process, summons, notice or other document delivered by mail to such Party’s address set forth herein
shall be effective service of process for dispute brought in any such court. The Parties irrevocably and unconditionally waive any objection
to the laying of venue of any dispute in such courts and irrevocably waive and agree not to plead or claim in any such court that any
such dispute brought in any such court has been brought in an inconvenient forum.

 

(iv)        EACH PARTY HEREBY IRREVOCABLY
WAIVES ALL RIGHTS TO A JURY TRIAL IN ANY ACTION, SUIT, OR PROCEEDING OF ANY KIND DIRECTLY OR INDIRECTLY ARISING OUT OF OR IN ANY WAY RELATING
TO THIS AGREEMENT. THE JURY TRIAL WAIVER CONTAINED IN THIS DEED IS INTENDED TO APPLY, TO THE FULLEST EXTENT PERMITTED BY LAW, TO ANY AND
ALL DISPUTES AND CONTROVERSIES THAT ARISE OUT OF OR IN ANY WAY RELATE TO ANY OR ALL OF THE MATTERS DESCRIBED IN THE PRECEDING SENTENCE,
INCLUDING WITHOUT LIMITATION CONTRACT CLAIMS, TORT CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS OF ANY KIND. THIS DEED MAY BE
FILED WITH ANY COURT OF COMPETENT JURISDICTION AS A PARTY’S WRITTEN CONSENT TO SUCH PARTY’S WAIVER OF A JURY TRIAL.

 

(v)        Except as otherwise
specified herein, in the event of a dispute arising under this Deed is submitted to court, the prevailing Party will be entitled to payment
of its reasonable attorneys’ fees and costs in litigating the dispute.

 

(d)        Inspection
of Facilities. Grantee will have the right, upon reasonable notice, to inspect the facilities associated with the Royalty Property
to the extent necessary to confirm Grantor’s proper performance of its obligations in this Deed. Such inspection will be at the
sole risk of Grantee, and Grantee will indemnify Grantor from any liability caused by Grantee's exercise of inspection rights, unless
such liability is caused by the gross negligence or intentional acts of Grantor or its employees or agents.

 

(e)       Confidentiality.

 

(i)        No Party shall, without
the express written consent of the other Parties, which consent may be withheld for any purpose, disclose any non-public information generated
or received under this Deed relating to the calculation of Net Smelter Returns or Grantor’s operations on the Royalty Property or
other property (“Confidential Information”), other than to employees, agents or consultants of the receiving Party
in respect of the administration or enforcement of its rights hereunder and who agree to be bound by the confidentiality provisions of
this Deed (the breach of which shall be deemed to be a breach by the Party).

 

(ii)       Any Party
may disclose Confidential Information received from another Party (A) to a prospective lender to whom or to which the Party may, in
good faith, grant a security interest in its interest in the Royalty Property, or (B) to a prospective purchaser of all or part of a
Party’s interest in the Royalty or the Royalty Property, but only, in each case, if the prospective recipient of Confidential
Information has executed a confidentiality agreement that includes confidentiality provisions substantially similar to this
subsection.

 

    7

     

    

 

(iii)       Confidential Information
may also be disclosed if such disclosure is required for compliance with applicable laws, rules, regulations or orders of any governmental
agency or stock exchange having jurisdiction over a Party, provided, however, that the notice shall have been given to the
non-disclosing Party or Parties of such disclosure as far in advance of such disclosure as is reasonably practicable and the disclosing
Party or Parties ensures that only such information as is necessary to comply with the obligations is disclosed.

 

		8.	General Provisions. 

 

		(a)	Transfers.

 

(i)        Grantor may freely transfer
all or any portion of its interest in the Royalty Property so long as such transfer is expressly made subject to the Royalty. If Grantor
transfers all or any portion of its interest in the Royalty Property, Grantor will obtain from the transferee a written acknowledgement
and assumption of the obligations of Grantor under this Deed with respect to the interest so transferred, and promptly provide evidence
of such acknowledgement and assumption to Grantee. Upon obtaining and delivering such acknowledgment and assumption to Grantee, Grantor
will thereupon be relieved of all liability for payment of the Royalty with respect to the Royalty Property transferred for any Royalty
that may thereafter arise with respect to such transferred interest, except with respect to any Royalty payments made prior to the date
of transfer, which will continue to be governed by this Deed.

 

(ii)        In the event Grantor
desires to mortgage, pledge, encumber or otherwise create a security interest in all or any portion of the products produced from the
Royalty Property, Grantor will cause each agreement, indenture, bond, deed of trust, filing, application or other instrument that creates
or purports to create a lien, mortgage, security interest or other charge secured by any interest in any of the Royalty Property or such
products to include an express agreement and acknowledgement by the Parties to such instrument, in form and substance reasonably satisfactory
to Grantee, that the Royalty is (A) senior in right of payment and collection from Revenues to any and all obligations created thereby
in respect of any of the Royalty Property or such products, and (B) that the Royalty is an independent interest in the Royalty Property
and is not subject to foreclosure pursuant to such mortgage, encumbrance or other form of security interest.

 

(iii)        Grantee may freely
transfer, mortgage, pledge, encumber or otherwise create a security interest in all or any portion of the Royalty, provided that Grantor
will have no obligation to make payments of Royalty to a transferee until receipt of written notice of the transfer and a copy of the
transferring document.

 

    8

     

    

 

(b)        No Partnership
or Special Relationship. The relationship of Grantor and Grantee with respect to the Royalty will not be construed to create, expressly
or by implication, a joint venture, mining partnership, commercial partnership, or other partnership relationship.

 

(c)        Certain Definitions.
As used in the Deed, the term “Grantee” will include all of the successors-in-interest to each of the Grantee and the
term “Grantor” will include all of Grantor’s successors-in-interest.

 

(d)        Tailings and Other
Waste Material. All tailings, residues, waste rock, spoiled leach materials, and other materials resulting from Grantor’s operations
and activities with respect to the Royalty Property shall be the sole property of Grantor but if Grantor processes such materials in the
future, all gold and other minerals produced from such materials will be subject to the Royalty and the terms of this Deed.

 

(e)        Property Interest.
This Deed shall constitute a security agreement for purposes of the Uniform Commercial Code. In addition, Grantor and Grantee intend that
the Royalty will be perpetual and will constitute a presently vested interest in and a covenant running with the Royalty Property which
will inure to the benefit of and be binding upon the Parties and their respective successors and assigns so long as Grantor or any successor
or assign of Grantor holds any rights or interests in the Royalty Property. The Royalty shall attach to any amendments, relocations or
conversions of any mining claim, license, or lease, concession, permit, patent or other tenure comprising the Royalty Property or the
Mining Property on which the Royalty Property is located, or to any renewals or extensions thereof. If Grantor or any affiliate or successor
or assignee of Grantor surrenders, allows to lapse or otherwise relinquishes or terminates its interest in any of the Royalty Property
or the Mining Property on which the Royalty Property is located, and reacquires a direct or indirect interest in the land or minerals
covered by the former Royalty Property or Mining Property on which the Royalty Property is located, then from and after the date of such
reacquisition the Royalty will apply to the Royalty Property so affected. Grantor will give written Notice to Grantee within 30 days of
any such acquisition or reacquisition. The Parties do not intend that there be any violation of the rule against perpetuities. Accordingly,
any right that is subject to such rule shall be exercised within the maximum time periods permitted under applicable law.

 

(f)       Notices.
Any notice, demand or other communication under this Deed (“Notice”) required or permitted to be given or made
under this Deed will be in writing and shall be given to a Party at the address below (i) by courier or recognized overnight
delivery service, or (ii) by registered or certified mail, return receipt requested. All Notices shall be effective and will be
deemed delivered (A) if by courier or recognized overnight delivery service on the date of delivery, (B) if solely by mail on the
day delivered as shown on the actual receipt. A Party may change its address for purposes of Notices from time-to-time by Notice to
the other Party.

 

If to Grantor:

 

Dakota Territory Resource Corporation 

106 Glendale Drive, Suite A

Lead, South Dakota 57754

 

    9

     

    

 

If to Grantee:

 

Barrick Gold Corporation

Brookfield Place 

TD Canada Trust Tower

161 Bay Street, Suite 3700

P.O. Box 212 

Toronto, Canada M5J 2S1

Attn: General Counsel

email:
notices@barrick.com

 

With a copy to:

 

Barrick Gold of North America Inc.

310 S. Main Street,
Suite 1150

Salt Lake City, Utah 84101 

Attn: Michael McCarthy, General Counsel (North America)

email: mmccarthy@barrick.com

 

(g)        Section Headings.
The section headings contained in this Deed are inserted for convenience only and do not affect in any way the meaning or interpretation
of this Deed.

 

(h)        Amendment.
No amendment of any provision of this Deed will be valid with respect to any Party unless the same shall be in writing and signed by each
Party. No waiver by any Party of any default or covenant hereunder, whether intentional or not, will be deemed to extend to any prior
or subsequent default or covenant or affect in any way any rights arising by virtue of any prior or subsequent occurrence.

 

(i)        Invalidity.
If any term or provision of this Deed is invalid or unenforceable in any situation in any jurisdiction it will not affect the validity
or enforceability of the remaining terms and provisions.

 

(j)        Governing Law.
This Deed will be governed by and construed in accordance with the laws of the State of South Dakota without giving effect to any choice
or conflicts of law provision or rule (whether of the State of South Dakota or any other jurisdiction) that would cause the application
of the laws of any jurisdiction other than the State of South Dakota.

 

(k)        Interpretation.
The Parties have participated jointly in the negotiation and drafting of this Deed. In the event an ambiguity or question of intent or
interpretation arises, this Deed will be construed as if drafted jointly by the Parties and no presumption or burden of proof will arise
favoring or disfavoring either Party by virtue of the authorship of any of the provisions of this Deed.

 

(l)        Counting. If
the final day of any period or any date of performance under this Deed falls on a Saturday, Sunday or legal holiday in South Dakota,
then the final day of the period or the date of performance will be extended to the next day that is not a Saturday, Sunday or legal
holiday in South Dakota. For purposes of computing the time for performance of any obligation hereunder, however, Saturday, Sundays
and legal holidays will be included.

  

[Signature Page Follows]

 

    10

     

    

 

Exempt from Transfer Fee, Mineral Royalty Interest only.

 

Executed by Grantor and Grantee to be effective as of the
Ef fective Date.

 

	 	GRANTOR:
	 	 
	 	Dakota Territory Resource Corp, a
    Nevada corporation
	 	 
	 	By: 	 
	 	Name:
	 	Title:
	 	 
	 	GRANTEE:
	 	 
	 	Homestake Mining Company of California,
    a California corporation
	 	 
	 	By:	                    
	 	Name:
	 	Title:

 

State
of                                                                                       )

                                                                                          
                                ) ss.

County
of                                                                                  )

         

 

This instrument was acknowledged before
me on __________ ___, 20[__], by [____________] as [________________] of Dakota Territory Resource Corp

 

	 	 

	 	Notary Public in and for the State of	 

	 	Residing at:	 

	 	Commission Expires:	 

 

State
of                                                                                       )

                                                                                          
                                ) ss.

County
of                                                                                  )

 

This instrument was acknowledged before
me on __________ ___, 20[__], by [________________] as [____________] of Homestake Mining Company of California.

  

	 	Notary
    Public in and for the State of Utah
	 	Residing at:	 
	 	Commission Expires:

 

    11

     

    

 

EXHIBIT A

To

 

Net Smelter Returns Royalty Deed

 

(Lawrence County, South Dakota Royalty Property)

 

The tailings facility and dumps or stockpiles located on the following
described real property located in Lawrence County, South Dakota:

 

Lot 3 of Grizzly Gulch Tract (excluding Ryan Tract Revised
as shown on Plat Document 2012- 4206 and excluding Keller Tract as shown on Plat Document 2019-4247), including the Morton Lode, M.S.
208, located in Sections 2, 3, 4, 9, 10, 11, 14 and 15, T4N, R3E and Section 34, T5N, R3E, B.H.M., as shown on Plat Document Number 2010-1746
and comprising 2,025.26 acres, more or less and identified as 26030-00000-030-00;

 

    A-1

     

    

 

EXHIBIT F

SELLER CLOSING CERTIFICATE

 

HOMESTAKE MINING COMPANY
OF CALIFORNIA 

SELLER’S CLOSING CERTIFICATE

  

The undersigned,
a duly authorized officer of Homestake Mining Company of California a California corporation (“Seller”), does hereby certify
pursuant to Section 4(a)(v) of that certain Asset Purchase Agreement (the “Agreement”) dated [__________], 20__ by and among
Seller and the individuals whose names are listed on the signature page thereto that:

 

1.           
Each of the Seller's representations and warranties set forth in Section 5 of the Agreement are true and correct in all material respects
at and as of the Closing Date (as defined in the Agreement).

 

2.           
The Seller has performed and complied, in all material respects, with all of its covenants set forth in the Agreement through the Closing
(as defined in the Agreement).

 

3.           
No action, suit, or proceeding is pending or threatened before any court or quasi-judicial or administrative agency of any federal,
state, local, or foreign jurisdiction or before any arbitrator wherein an unfavorable injunction, judgment, order, decree, ruling, or
charge would (A) prevent consummation of any of the transactions contemplated by the Agreement, (B) cause any of the transactions contemplated
by the Agreement to be rescinded following consummation (and no such injunction, judgment, order, decree, ruling, or charge is in effect),
or (C) adversely affect the right of the Seller to own or dispose of the property as contemplated by this Agreement and the other agreements
contemplated thereby.

  

Dated this [__] day of [_________], 20[__]

 

Homestake Mining Company of California, a California corporation

 

 

	By:	 	 

 
	Name:	 	 

 
	Title:	 	 

 

    F-1

     

    

 

EXHIBIT G

PURCHASER CLOSING CERTIFICATE

 

DAKOTA TERRITORY RESOURCE
CORPORATION 

BUYER’S CLOSING
CERTIFICATE 

 

The undersigned, a duly authorized officer of Dakota
Territory Resource Corporation (“buyer”), does hereby certify pursuant to Section 4(b)(vii) of that certain Asset
Purchase Agreement (the “Agreement”) dated [__________], 20[__] by and among Buyer and the individuals whose names are
listed on the signature page thereto that:

 

1.            Each
of the Buyer’s representations and warranties set forth in Section 6 of the Agreement are true and correct in all material
respects at and as of the Closing Date (as defined in the Agreement).

 

2.           
The Buyer has performed and complied, in all material respects, with all of its covenants set forth in the Agreement through the Closing
(as defined in the Agreement).

 

3.
           No action, suit, or proceeding is pending or threatened before
any court or quasi-judicial or administrative agency of any federal, state, local, or foreign jurisdiction or before any arbitrator wherein
an unfavorable injunction, judgment, order, decree, ruling, or charge would (A) prevent consummation of any of the transactions contemplated
by the Agreement, (B) cause any of the transactions contemplated by the Agreement to be rescinded following consummation (and no such
injunction, judgment, order, decree, ruling, or charge is in effect), or (C) adversely affect the right of the Buyer to purchase the
property as contemplated by this Agreement and the other agreements contemplated thereby.

 

Dated this [__] day of [___________], 20[__]

 

Dakota Territory Resource Corporation, a Nevada corporation 

 

	By:	 	 
	 	 

	Name: 	 	 
	 	 

	Title: 	 	 

 

    G-1

     

    

 

EXHIBIT B

 

LEGAL DESCRIPTION

 

The following described real property located in Lawrence County,
South Dakota: 

(surface)

 

Lot 3 of Grizzly Gulch Tract (excluding Ryan Tract
Revised as shown on Plat Document 2012-4206 and excluding Keller Tract as shown on Plat Document 2019-4247), including the Morton Lode,
M.S. 208, located in Sections 2, 3, 4, 9, 10, 11, 14 and 15, T4N, R3E and Section 34, T5N, R3E, B.H.M., as shown on Plat Document Number
2010-1746 and comprising 2,025.26 acres, more or less and identified as 26030-00000-030-00;

 

Open Cut Tract, including the Highland
Chief, M.S. 50, located in Sections 27, 28, 29, 32, 33 and 34, T5N, R3E, B.H.M. as shown on Plat Document Number 2006-6682 and comprising
817.40 acres, more or less and identified as APN 26055-00000-000-00;

 

Sawpit Tract (excluding Sign Lot as shown on Plat
Document 2008-4655 and a portion of Lot B-1A2 as shown on Plat Document 2010-4631, and Lot D of the Sawpit Tract as shown on Plat Document
2016-1775), including the Hidden Treasure, M.S. 49, located in Sections 19, 20, 29 and 30, T5N, R3E, B.H.M., as shown on Plat Document
Number 2006-7130 and comprising 480.67 acres, more or less and identified as APN 26070-00000-000-00;

 

Tract 1 of the Sawpit Addition to the
Town of Central City (excluding Lots 1A, 1B, 2 and 3 of Tract 1 of Sawpit Addition as shown on Plat Document 2008-3880, 2009-1926 &
1025-1396), as shown on Plat Document Number 2007-677 and comprising 26.63 acres, more or less and identified as APN 27900-00100-000-00;

 

Lot 3, located in Section 28, T5N, R3E, B.H.M., comprising
0.68 acres, more or less and identified as APN-17000-00503-280-00;

 

General Jackson and Cowboy #1, M.S. 1583, located in Section
28, T5N, R3E, B.H.M., comprising 16.67 acres, more or less and identified as APN 26680-01583-000-00;

 

Tract G, Tract H, Tract J and Tract K,
located in a portion of Placer 252 in Section 28, T5N, R3E, B.H.M., as shown on Plat Document Number 2011-5451 and aggregating 0.40 acres
more or less and identified as APN 26280-00252-030-00, 26280-00252-0040-00, 26280-00252-0060-00, 26280-00252-070-00;

 

Lot 2, Lot 3 and Lot 4, of M.S. 1557, located
in the SW/4 Section 3, the SE/4 Section 4, E/2 Section 9 & NW/4 Section 10, T4N, R3E, B.H.M., as shown on Plat Document Number 2005-1092 and aggregating 193.33 acres, more or less and identified as APN 26620-01557-020-00, 26620-01557-030-00, 26620-01557-040-00;

 

     

     

    

 

Tract A, Centennial Addition to the Town
of Central City, a portion of M.S. 892, as shown on Plat Document Number 2006-494 and comprising 24.14 acres, more or less and identified
as APN 26020-00000-000-00, 27200-00000-000-00;

 

Tract D of the Yates Subdivision, (excluding Lot-D1
of Tract D the Yates Subdivision and a portion of Lot 3 of the Grizzly Gulch Tract as shown on Plat Document 2019-4246); and Tract E of
the Yates Subdivision, City of Lead, (excluding Lot E-1 of Tract E of the Yates Subdivision as shown on Plat Document 2017-1960), including
the Evanston, M.S. 235, as shown on Plat Document 2005-8217 and aggregating 117.19 acres, more or less and identif ied as APN 26090-00400-000-00,
26090-00500-000-00, 31910-00400-000-00, 31910-00500-000-00;

 

Tract A, Block 16, Billings Addition to the City
of Lead, as shown on Plat Document Number 2007-1490, excluding Lot 1 of Tract 16, Billings Addition to the City of Lead as shown on Plat
Document 2020-909, and comprising 24.22 acres, more or less and identified as APN 31210-01600-010-00;

 

Tract 1, Terraville Addition to the City of Lead, as shown
on Plat Document 2009-3218, comprising 60.12 acres, more or less and identified as APN 31820-00000-000-00;

 

Lot A of Lot 1, Tract 4, Homestake Addition to
the City of Lead, as shown on Plat Document Number 96-1826, comprising 0.443 acres, more or less and identified as APN 31440-00400-001-00;

 

Lots 1, 2 and 18, Block 1, Washington Addition
to the City of Lead, and McCloud Extension, as shown on the Cricks Map of the City of Lead, and identified as APN 31870-00100-200-00,
31870-00100-020-00;

 

Remainder of Lot 1, Tract 1, of the Homestake
Addition to the City of Lead, as shown on Plat Document Number 94-5906 and 2000-3708, comprising 7.25 acres, more or less and identified
as APN 31440-00100-001-00;

 

Tract 2 of the Homestake Addition to the
City of Lead including a portion of Lot AB1 and excluding Dog Run Park plat, as shown on Plat Document Number 94-5906, comprising 39.18
acres, more or less and identified as APN 31440-00200-000-00;

 

Remainder of Tract 8 of the Homestake Addition
to the City of Lead (excluding Tract 1, Terraville Addition to City of Lead as shown on Plat Document 2009-3218), as shown on Plat Document
Number 2007-996 and comprising 41.37 acres, more or less and identified as APN 31440 -00800-000-00;

 

Tract 9 of the Homestake Addition to the
City of Lead and vacated portion of Spring Street (excluding Dog Run Park of Tract 9 as shown on Plat Document Number 2009-5880), as shown
on Plat Document Number 2007-5814 and comprising 34.39 acres, more or less and identified as APN 31440-00900-000-00;

 

     

     

    

 

Remainder of Lot 9, Block 3, Washington
Addition to the City of Lead (excluding Lot 9A, Block 3 as shown on Plat Document Number 2007 -6394), as described in Book 314 Page 25
and identified as APN 31870-00300-090-10;

 

Lot 9A, Block 3, Washington Addition to
the City of Lead, as shown on Plat Docume nt Number 2007-6394, comprising 0.19 acres, more or less and identified as APN 31870-00300-090-20;

 

School Lots, 31 and 32, inside City of Deadwood, located in
Section 27, T5N, R3E, B.H.M. comprising 12.32 acres, more or less and identified as APN 30075-00031-000-00;

 

Tract D, McGovern Hill Addition to the City of
Deadwood, (excluding Lot D-1 of the McGovern Hill Addition to the City of Deadwood as shown on Plat Document 2019 -338) as shown on Plat
Document No. 2003-4122 and comprising 3.01 acres, more or less and identified as APN 30610-00000-040-00;

 

Tract 1, Tract 2 and Lot 6, inside City of Deadwood, located
in Section 27, T5N, R3E, B.H.M., comprising 11.54 acres, more or less and identified as APN 30890-00503-270-20;

 

Remainder of St. James patented lode mining
claim, M.S. 754, inside City of Deadwood, located in Section 27, T5N, R3E, B.H.M., comprising 3.25 acres, more or less and identified
as APN 30900-00754-000-14;

 

Remainder of Hunter Lode patented lode
mining claim, M.S. 1295, inside City of Deadwood, excluding Lot 1R-A, Lots 1 and 2, located in Section 27, T5N, R3E, B.H.M., comprising
4.32 acres, more or less and identified as APN 30900 -01295-000-80;

 

Brownie patented lode mining claims, M.S.
1324 and School Lot 22, inside City of Deadwood, located in Section 27, T5N, R3E, B.H.M., comprising 67.76 acres, more or less and identified
as APN 30900-01324-000-10;

 

Remainder of Alida #1 and Alida#2 patented
lode mining claims, M.S. 1463, inside City of Deadwood, located in Section 27, T5N, R3E, B.H.M., comprising 6.35 acres, more or less and
identified as APN 30900-01463-000-00;

 

Lot 15, Golden Gate, located in Section
29, T5N, R3E, B.H.M., as shown on Plat Document Number 99-1127, comprising .08 acres, more or less and identified as APN 27300 -00049-000-00;

 

Lot 6, located in Section 11, T4N, R3E,
B.H.M., comprising .08 acres, more or less and identified as APN 13000-00403-110-03;

 

Gold Run Tract, Gold Run Addition to the City of Lead, as shown
on Plat Document Number 2005-4941, comprising 7.94 acres, more or less and identified as APN 31400-00000-010-00;

 

Park Tract, Gold Run Addition to the City of Lead, as shown on Plat
Document Number 2005-4941, comprising 11.11 acres, more or less and identified as APN 31400 -00000-020-00;

 

     

     

    

 

Tract C-3A of P.C. 51, 62, 64, 108, 252 and 255,
and of M.S. 1971, 1441, 1363 and 1608, located in Section 28, T5N, R3E, B.H.M., as shown on Plat Document Nu mber 2005-1326, comprising
11.95 acres, more or less and identified as APN 26200-00051-000-50.

 

Mineral – 100%

 

General Grant, M.S. 675, located in Section 1, T4N, R2E, B.H.M.;

 

Boss lode, M.S. 839, located in Section 6, T4N, R3E, B.H.M.;

 

Big Sam, Francis, Marseillase, Minnie, Ruby Hill and Glenwood
lodes, M.S. 930, located in Section 7, T4N, R3E, B.H.M.;

 

South Lyon lode, M.S. 935, located in Section 6, T4N, R3E, B.H.M.;

 

Argenta, Glyn, Lemans, Oro and Oro Fraction lodes, M.S. 1109,
located in Sections 12 and 13, T4N, R2E, BH.M.;

 

West Wedge Fraction, West End, Jackson, Moonlight, Sunrise,
Sunset Fraction, Lizzie lodes, M.S. 1114, located in Section 12, T4N, R2E, and Section 7, T4N, R3E, B.H.M.;

 

Camden, Ford and Georgia lodes, M.S. 1141, located in Sections 34 and
35, T5N, R2E, B.H.M.;

 

Blue and Rocky Lynn lodes, M.S. 1168, located in Section 34, T5N, R2E,
B.H.M.;

 

Buffalo, Deadwood, Link Fraction, May lodes, M.S. 1283, located
in Section 33, T5N, R2E, B.H.M.;

 

Cardinal and Longpoint Fraction lodes, M.S. 1288, located in Section
25, T5N, R2E, B.H.M.;

 

Ames, Ames Fraction, Cloud, Dick, Ester, Lightning, Thunder
lodes, M.S. 1289, located in Sections 27 and 28, T5N, R2E, B.H.M.;

 

James G. Blaine, M.S. 1349, located in Section 34, T5N, R2E, B.H.M.;

 

Loyd lode, M.S. 1468, located in Sections 33 and 34, T5N, R2E, B.H.M.;

 

Genessee, Grenada, Peerless, Trenton lodes, M.S. 1616, located in Section
4, T4N, R2E, B.H.M.;

 

Snorter and Snorter Fraction lodes, M.S. 1643, located in Sections
33 and 34, T5N, R2E, B.H.M.;

 

Maid of Erin, Telegram, Gannon, B&M Fraction lodes, M.S.
1659, located in Sections 33 and 34, T5N, R2E, and Section 3, T4N, R2E, B.H.M.;

 

Belligerent, Belligerent Fraction, Belligerent No. 3, Belligerent No.
4, Bull Hill Fraction lodes, M.S. 1673, located in Sections 27 and 34, T5N, R2E, B.H.M.;

 

Marconi lode, M.S. 1792, located in Section 31, T5N, R3E, B.H.M.; 

 

     

     

    

 

EXHIBIT C

 

MEMORANDUM OF OPTION

 

Attached.

 

     

     

    

 

HOMESTAKE MINING COMPANY OF CALIFORNIA

 

Optionor

 

and 

 

DAKOTA TERRITORY RESOURCE CORP.

 

Optionee

 

 

MEMORANDUM OF OPTION

 

 

Dated as of September 7, 2021

 

The properties affected by the within instrument are located in Lawrence
County, South Dakota

 

Prepared By and Record and Return to:

Skadden, Arps, Slate, Meagher & Flom

One Manhattan West 

New York, New York 10001

Attention: Michael J. Hong, Esq.

 

     

     

    

 

Memorandum of Option 

 

THIS
MEMORANDUM OF OPTION AGREEMENT ("Memorandum") dated as of the 7th
day of September, 2021, by and between HOMESTAKE MINING COMPANY OF CALIFORNIA, a California corporation
("Optionor") and Dakota Territory Resource Corp., a Nevada corporation ("Optionee").

 

Optionor and Optionee hereby acknowledge the following:

 

1.            Option
to Purchase. For valuable consideration described in that certain Option Agreement for Purchase and Sale of Real Property, dated
as of September 7, 2021 (the "Option Agreement"), Optionor has granted to Optionee (i) the exclusive and irrevocable
option (the "Option") to purchase the fee lands and patented mining claims situated in Lawrence County, South
Dakota, which are more particularly described in Exhibit A attached hereto and made a part hereof, together with any buildings
and other improvements thereon and any and all rights, privileges, easements, accessions, appurtenances, hereditaments, claims, permits
and licenses therein or relating thereto (collectively, the “Property”) and (ii) all of Optionor’s rights, title
and interest under that certain Property Donation Agreement dated April 14, 2006, among Optionor, the State of South Dakota and The South
Dakota Science and Technology Authority.

 

2.           Term.
Optionee may exercise the Option anytime during the period commencing on September 7, 2021 and ending on September 7, 2024. Optionee shall
have an additional one hundred and twenty (120) days after Optionee's exercise of the Option to close on the purchase of the Property
(the "Term").

 

3.           Conflicts.
This Memorandum is intended only for recording purposes to provide notice of certain terms and conditions contained in the Option Agreement
and is not to be construed as a complete summary of the terms and conditions thereof. This Memorandum is subject to the Option Agreement
and any amendments, modifications, alterations, renewals, and extensions of the Option Agreement. The terms and provisions of the Option
Agreement are incorporated in this Memorandum by reference. If there is any conflict between this Memorandum and the Option Agreement,
the provisions of the Option Agreement shall control.

 

4.           Counterparts.
This Memorandum may be executed in multiple counterparts, each of which shall be deemed an original and all of which when taken together
shall constitute one and the same document.

 

[SIGNATURE PAGE FOLLOWS]

 

     

     

    

 

IN WITNESS WHEREOF, the Parties hereto have executed this
Memorandum as of the date first above written.

 

	 	OPTIONOR:
	 	 
	 	HOMESTAKE MINING COMPANY OF CALIFORNIA,
	 	 
	 	a California corporation 
	 	 
	 	By:	                 
	 	Name: 
	 	Title: 
	 	 
	 	OPTIONEE:
	 	 
	 	DAKOTA TERRITORY RESOURCE CORP., a
    Nevada corporation 
	 	 
	 	By:	 
	 	Name: 
	 	Title:

 

     

     

    

 

Optionor Acknowledgment  

 

	STATE OF 	 	)
	 	 	              ) ss.:

	COUNTY OF  	 	)

 

On the      
day of ____________, 2021 before me, the undersigned, a Notary Public in and for said State, personally appeared ___________________,
personally known to me or proved to me on the basis of satisfactory evidence to be the individual(s) whose name(s) is (are) subscribed
to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their capacity(ies), and that by his/her/their
signature(s) on the instrument, the individual(s), or the person upon behalf of which the individual(s) acted, executed the instrument. 

 

	 	 	             __________________________
	 	 	             Notary Public

 

Optionee Acknowledgment

 

	STATE OF 	 	)
	 	 	              ) ss.:

	COUNTY OF  	 	)

 

On the __ day of ____________, 2021 before me,
the undersigned, a Notary Public in and for said State, personally appeared ___________________, personally known to me or proved to me
on the basis of satisfactory evidence to be the individual(s) whose name(s) is (are) subscribed to the within instrument and acknowledged
to me that he/she/they executed the same in his/her/their capacity(ies), and that by his/her/their signature(s) on the instrument, the
individual(s), or the person upon behalf of which the individual(s) acted, executed the instrument.

 

	 	 	             __________________________
	 	 	             Notary Public

 

     

     

    

 

EXHIBIT A

 

LEGAL DESCRIPTION

 

The following described real property located in Lawrence County,
South Dakota:

(surface)

 

Lot 3 of Grizzly Gulch Tract (excluding Ryan Tract
Revised as shown on Plat Document 2012-4206 and excluding Keller Tract as shown on Plat Document 2019-4247), including the Morton Lode,
M.S. 208, located in Sections 2, 3, 4, 9, 10, 11, 14 and 15, T4N, R3E and Section 34, T5N, R3E, B.H.M., as shown on Plat Document Number
2010-1746 and comprising 2,025.26 acres, more or less and identified as 26030-00000-030-00;

 

Open Cut Tract, including the Highland
Chief, M.S. 50, located in Sections 27, 28, 29, 32, 33 and 34, T5N, R3E, B.H.M. as shown on Plat Document Number 2006-6682 and comprising
817.40 acres, more or less and identified as APN 26055-00000-000-00;

 

Sawpit Tract (excluding Sign Lot as shown on Plat
Document 2008-4655 and a portion of Lot B-1A2 as shown on Plat Document 2010 -4631, and Lot D of the Sawpit Tract as shown on Plat Document
2016-1775), including the Hidden Treasure, M.S. 49, located in Sections 19, 20, 29 and 30, T5N, R3E, B.H.M., as shown on Plat Document
Number 2006-7130 and comprising 480.67 acres, more or less and identified as APN 26070 -00000-000-00;

 

Tract 1 of the Sawpit Addition to the
Town of Central City (excluding Lots 1A, 1B, 2 and 3 of Tract 1 of Sawpit Addition as shown on Plat Document 2008-3880, 2009-1926 &
1025-1396), as shown on Plat Document Number 2007-677 and comprising 26.63 acres, more or less and identified as APN 27900-00100-000-00;

 

Lot 3, located in Section 28, T5N, R3E,
B.H.M., comprising 0.68 acres, more or less and identified as APN-17000-00503-280-00;

 

General Jackson and Cowboy #1, M.S. 1583,
located in Section 28, T5N, R3E, B.H.M., comprising 16.67 acres, more or less and identified as APN 26680-01583-000-00;

 

Tract G, Tract H, Tract J and Tract K,
located in a portion of Placer 252 in Section 28, T5N, R3E, B.H.M., as shown on Plat Document Number 2011-5451 and aggregating 0.40 acres
more or less and identified as APN 26280-00252-030-00, 26280-00252-0040-00, 26280-00252-0060-00, 26280-00252-070-00;

 

Lot 2, Lot 3 and Lot 4, of M.S. 1557, located
in the SW/4 Section 3, the SE/4 Section 4, E/2 Section 9 & NW/4 Section 10, T4N, R3E, B.H.M., as shown on Plat Document Number 2005-1092 and aggregating 193.33 acres, more or less and identified as APN 26620-01557-020-00, 26620-01557-030-00, 26620-01557-040-00;

 

     

     

    

 

Tract A, Centennial Addition to the Town
of Central City, a portion of M.S. 892, as shown on Plat Document Number 2006-494 and comprising 24.14 acres, more or less and identified
as APN 26020-00000-000-00, 27200-00000-000-00;

 

Tract D of the Yates Subdivision, (excluding Lot-D1
of Tract D the Yates Subdivision and a portion of Lot 3 of the Grizzly Gulch Tract as shown on Plat Document 2019-4246); and Tract E of
the Yates Subdivision, City of Lead, (excluding Lot E-1 of Tract E of the Yates Subdivision as shown on Plat Document 2017-1960), including
the Evanston, M.S. 235, as shown on Plat Document 2005-8217 and aggregating 117.19 acres, more or less and identified as APN 26090-00400-000-00,
26090-00500-000-00, 31910-00400-000-00, 31910-00500-000-00;

 

Tract A, Block 16, Billings Addition to the City
of Lead, as shown on Plat Document Number 2007-1490, excluding Lot 1 of Tract 16, Billings Addition to the City of Lead as shown on Plat
Document 2020-909, and comprising 24.22 acres, more or less and identified as APN 31210-01600-010-00;

 

Tract 1, Terraville Addition to the City of Lead, as shown
on Plat Document 2009 -3218, comprising 60.12 acres, more or less and identified as APN 31820-00000-000-00;

 

Lot A of Lot 1, Tract 4, Homestake Addition to
the City of Lead, as shown on Plat Document Number 96-1826, comprising 0.443 acres, more or less and identified as APN 31440 -00400-001-00;

 

Lots 1, 2 and 18, Block 1, Washington Addition
to the City of Lead, and McCloud Extension, as shown on the Cricks Map of the City of Lead, and identified as APN 31870 -00100-200-00,
31870-00100-020-00;

 

Remainder of Lot 1, Tract 1, of the Homestake
Addition to the City of Lead, as shown on Plat Document Number 94-5906 and 2000-3708, comprising 7.25 acres, more or less and identified
as APN 31440-00100-001-00;

 

Tract 2 of the Homestake Addition to the
City of Lead including a portion of Lot AB1 and excluding Dog Run Park plat, as shown on Plat Document Number 94-5906, comprising 39.18
acres, more or less and identified as APN 31440 -00200-000-00;

 

Remainder of Tract 8 of the Homestake Addition
to the City of Lead (excluding Tract 1, Terraville Addition to City of Lead as shown on Plat Document 2009-3218), as shown on Plat Document
Number 2007-996 and comprising 41.37 acres, more or less and identified as APN 31440 -00800-000-00;

 

Tract 9 of the Homestake Addition to the
City of Lead and vacated portion of Spring Street (excluding Dog Run Park of Tract 9 as shown on Plat Document Number 2009-5880), as shown
on Plat Document Number 2007-5814 and comprising 34.39 acres, more or less and identified as APN 31440-00900-000-00;

 

     

     

    

 

Remainder of Lot 9, Block 3, Washington
Addition to the City of Lead (excluding Lot 9A, Block 3 as shown on Plat Document Number 2007-6394), as described in Book 314 Page 25
and identified as APN 31870-00300-090-10;

 

Lot 9A, Block 3, Washington Addition to
the City of Lead, as shown on Plat Document Number 2007-6394, comprising 0.19 acres, more or less and identified as APN 31870-00300-090-20;

 

School Lots, 31 and 32, inside City of
Deadwood, located in Section 27, T5N, R3E, B.H.M. comprising 12.32 acres, more or less and identified as APN 30075-00031-000-00;

 

Tract D, McGovern Hill Addition to the City of
Deadwood, (excluding Lot D-1 of the McGovern Hill Addition to the City of Deadwood as shown on Plat Document 2019 -338) as shown on Plat
Document No. 2003-4122 and comprising 3.01 acres, more or less and identified as APN 30610-00000-040-00;

 

Tract 1, Tract 2 and Lot 6, inside City of Deadwood, located
in Section 27, T5N, R3E, B.H.M., comprising 11.54 acres, more or less and identified as APN 30890-00503-270-20;

 

Remainder of St. James patented lode mining
claim, M.S. 754, inside City of Deadwood, located in Section 27, T5N, R3E, B.H.M., comprising 3.25 acres, more or less and identified
as APN 30900-00754-000-14;

 

Remainder of Hunter Lode patented lode
mining claim, M.S. 1295, inside City of Deadwood, excluding Lot 1R-A, Lots 1 and 2, located in Section 27, T5N, R3E, B.H.M., comprising
4.32 acres, more or less and identified as APN 30900 -01295-000-80;

 

Brownie patented lode mining claims, M.S.
1324 and School Lot 22, inside City of Deadwood, located in Section 27, T5N, R3E, B.H.M., comprising 67.76 acres, more or less and identified
as APN 30900-01324-000-10;

 

Remainder of Alida #1 and Alida#2 patented
lode mining claims, M.S. 1463, inside City of Deadwood, located in Section 27, T5N, R3E, B.H.M., comprising 6.35 acres, more or less and
identified as APN 30900-01463-000-00;

 

Lot 15, Golden Gate, located in Section
29, T5N, R3E, B.H.M., as shown on Plat Document Number 99-1127, comprising .08 acres, more or less and identified as APN 27300 -00049-000-00;

 

Lot 6, located in Section 11, T4N, R3E,
B.H.M., comprising .08 acres, more or less and identified as APN 13000-00403-110-03;

 

Gold Run Tract, Gold Run Addition to the City of Lead, as shown
on Plat Document Number 2005-4941, comprising 7.94 acres, more or less and identified as APN 31400-00000-010-00;

 

Park Tract, Gold Run Addition to the City of Lead, as shown on Plat
Document Number 2005-4941, comprising 11.11 acres, more or less and identified as APN 31400 -00000-020-00;

 

     

     

    

 

Tract C-3A of P.C. 51, 62, 64, 108, 252 and 255,
and of M.S. 1971, 1441, 1363 and 1608, located in Section 28, T5N, R3E, B.H.M., as shown on Plat Document Number 2005-1326, comprising
11.95 acres, more or less and identified as APN 26200-00051-000-50.

 

Mineral – 100%

 

General Grant, M.S. 675, located in Section 1, T4N, R2E, B.H.M.;

 

Boss lode, M.S. 839, located in Section 6, T4N, R3E, B.H.M.;

 

Big Sam, Francis, Marseillase, Minnie, Ruby Hill and Glenwood
lodes, M.S. 930, located in Section 7, T4N, R3E, B.H.M.;

 

South Lyon lode, M.S. 935, located in Section 6, T4N, R3E, B.H.M.;

 

Argenta, Glyn, Lemans, Oro and Oro Fraction lodes, M.S. 1109,
located in Sections 12 and 13, T4N, R2E, BH.M.;

 

West Wedge Fraction, West End, Jackson, Moonlight, Sunrise,
Sunset Fraction, Lizzie lodes, M.S. 1114, located in Section 12, T4N, R2E, and Section 7, T4N, R3E, B.H.M.;

 

Camden, Ford and Georgia lodes, M.S. 1141, located in Sections 34 and
35, T5N, R2E, B.H.M.;

 

Blue and Rocky Lynn lodes, M.S. 1168, located in Section 34, T5N, R2E,
B.H.M.;

 

Buffalo, Deadwood, Link Fraction, May lodes, M.S. 1283, located
in Section 33, T5N, R2E, B.H.M.;

 

Cardinal and Longpoint Fraction lodes, M.S. 1288, located in Section
25, T5N, R2E, B.H.M.;

 

Ames, Ames Fraction, Cloud, Dick, Ester, Lightning, Thund er
lodes, M.S. 1289, located in Sections 27 and 28, T5N, R2E, B.H.M.;

 

James G. Blaine, M.S. 1349, located in Section 34, T5N, R2E, B.H.M.;

 

Loyd lode, M.S. 1468, located in Sections 33 and 34, T5N, R2E, B.H.M.;

 

Genessee, Grenada, Peerless, Trenton lodes, M.S. 1616, located in Section
4, T4N, R2E, B.H.M.;

 

Snorter and Snorter Fraction lodes, M.S. 1643, located in Sections
33 and 34, T5N, R2E, B.H.M.;

 

Maid of Erin, Telegram, Gannon, B&M Fraction lodes, M.S.
1659, located in Sections 33 and 34, T5N, R2E, and Section 3, T4N, R2E, B.H.M.;

 

Belligerent, Belligerent Fraction, Belligerent No. 3, Belligerent
No. 4, Bull Hill Fraction lodes, M.S. 1673, located in Sections 27 and 34, T5N, R2E, B.H.M.;

 

Marconi lode, M.S. 1792, located in Section 31, T5N, R3E, B.H.M.;EX-10.5

 Exhibit 10.5 

Date:                     , 2022

 DEED OF INDEMNITY 

between 
 (1) POLESTAR
AUTOMOTIVE HOLDING UK [LIMITED/PLC]1 
 and 

(2) [NAME OF [DIRECTOR/OFFICER]] 
  

 

	1	 Note to draft: To be revised depending on whether deed is
signed before or after conversion to a PLC. 

 CONTENTS 

CLAUSE 
  

							
	1.	  	 Interpretation
	  	 	2	 
	2.	  	 Indemnity
	  	 	4	 
	3.	  	 Exclusions and limitations
	  	 	5	 
	4.	  	 Notification and conduct of claims
	  	 	6	 
	5.	  	 Payments
	  	 	7	 
	6.	  	 Funding of legal costs
	  	 	8	 
	7.	  	 D&O Insurance
	  	 	9	 
	8.	  	 Subrogation
	  	 	10	 
	9.	  	 Assignment and other dealings
	  	 	11	 
	10.	  	 Entire agreement
	  	 	11	 
	11.	  	 Severance
	  	 	11	 
	12.	  	 Notices and demands
	  	 	11	 
	13.	  	 Variation and waiver
	  	 	12	 
	14.	  	 Counterparts
	  	 	12	 
	15.	  	 Third party rights
	  	 	12	 
	16.	  	Governing law and jurisdiction	  	 	12	 

  

  
 1 

 This deed is
dated                2022 
 Parties 

 

	(1)	 Polestar Automotive UK [Limited/PLC] incorporated and registered in England and Wales with company number
13624182 whose registered office is at [•] (Company) 

  

	(2)	 [NAME OF [DIRECTOR/OFFICER]] of [ADDRESS] (Director/Officer) 

BACKGROUND 
  

	(A)	 The [Director/Officer] is a [director/officer] of the Company. 

 

	(B)	 The Company’s Articles of Association contemplate that the Company will indemnify the Company’s
directors and officers in relation to certain specific liabilities incurred by them in the performance of their duties as directors or officers of the Company. 

 

	(C)	 The Company has agreed to enter into this deed of indemnity with the [Director/Officer]. 

Agreed terms 
  

	1.	 Interpretation 

The following definitions and rules of interpretation apply in this deed. 

 

	1.1	 Definitions: 

[Application for Relief: an application for relief made by the Director to the court under sections 661(3) or 661(4) or section 1157 of
the CA 2006.]2 
 Associated Company: a company associated with the Company
within the meaning of section 256(b) of the CA 2006. 
 Board: the board of directors of the Company, acting as such. 

Business Day: a day other than a Saturday, Sunday or public holiday in England, when banks in London are open for business. 

 

	2 	 Note to Draft: Delete for Officer’s deed of indemnity. 

  
 2 

 Claim: has the meaning given in clause 2.1. 

CA 2006: the Companies Act 2006. 

D&O Insurance: has the meaning given in clause 7.1. 

Favourable Conclusion: has the meaning given in clause 6.6. 

Final: in relation to any conviction, judgment or refusal of relief, has the meaning given in section 234(5) of the CA 2006. 

Liabilities: all liabilities, costs, charges, expenses, judgments, settlements, compensation and other awards, damages and losses
(including any direct, indirect or consequential losses and all interest, penalties, fines, taxes and legal costs (calculated on a full indemnity basis) and all other reasonable professional costs and expenses). 

Loan Amounts: has the meaning given in clause 6.2. 

Misconduct: has the meaning given in clause 3.1(g). 

Proceeding: any civil, criminal, administrative, investigative or other proceeding. 

Restricted Proceedings: the proceedings referred to in clause 3.1(d)(i) to the extent that they are in connection with any negligence,
default, breach of duty or breach of trust (including alleged negligence, default, breach of duty or breach of trust) by the [Director/Officer] in relation to the Company or any of its Subsidiaries or otherwise arise by virtue of the
[Director/Officer] having acted or purported to act as a [director/officer] of the Company or of any of its Subsidiaries. 

Subsidiary: has the meaning given in section 1159 of the CA 2006. 

 

	1.2	 Clause headings shall not affect the interpretation of this deed. 

 

	1.3	 Unless the context otherwise requires, references to clauses are to the clauses of this deed.

  

	1.4	 Unless the context otherwise requires, words in the singular shall include the plural and in the plural shall
include the singular. 

  

	1.5	 Unless the context otherwise requires, a reference to one gender shall include a reference to the other
genders. 

  

	1.6	 A reference to a statute or statutory provision is a reference to it as amended, extended or re-enacted from time to time. 

  

	1.7	 A reference to writing or written includes fax and email. 

  
 3 

	1.8	 Any words following the terms including, include, in particular, for example or any
similar expression shall be construed as illustrative and shall not limit the sense of the words, description, definition, phrase or term preceding those terms. 

 

	1.9	 Other and otherwise are illustrative and shall not limit the sense of the words, description,
definition, phrase or term preceding them. 

  

	2.	 Indemnity 

  

	2.1	 Subject to the terms of this deed, the Company shall indemnify the [Director/Officer] in respect of all
Liabilities arising out of or in connection with any Proceeding brought or threatened against the [Director/Officer] for negligence, default, breach of duty, breach of trust or otherwise[, or relating to any Application for Relief,]3 in connection with the [Director’s/Officer’s] acts or omissions while in the course of acting or purporting to act as a [director/officer] of the Company or of any of its Subsidiaries or
which otherwise arises by virtue of the [Director/Officer] holding or having held such a position (Claim). 

  

	2.2	 References in clause 2.1 to acts or omissions are to acts or omissions made or omitted to be made after the
date of this deed, however: 

  

	 	(a)	 if a company ceases to be a Subsidiary of the Company after the date of this deed, the Company shall only be
liable to indemnify the [Director/Officer] in respect of Liabilities in relation to that company which were incurred before the date on which that company ceased to be a Subsidiary of the Company; and 

 

	 	(b)	 the [Director/Officer], as [director/officer] of any company which becomes a Subsidiary of the Company after
the date of this deed, shall be indemnified only in respect of Liabilities incurred after the date on which that company became a Subsidiary of the Company. 

  

	2.3	 The [Director/Officer] shall continue to be indemnified under clause 2.1, notwithstanding that the
[Director/Officer] may have ceased to be a [director/officer] of the Company or any of its Subsidiaries. 

  

	2.4	 Any obligation on the part of the Company to make a payment to the [Director/Officer] pursuant to clause 2.1 is
conditional upon the [Director/Officer] having made an application in writing to the Company supported by the production of documentation which, in the reasonable opinion of the Board, is satisfactory evidence that: 

 

	 	(a)	 the relevant Liability has been suffered or incurred by the [Director/Officer] and of the date(s) on which it
was suffered or incurred and that it falls within the scope of the indemnity set out in clause 2.1; and 

  

	3 	 Note to Draft: Delete for Officer’s deed of indemnity. 

  
 4 

	 	(b)	 any costs and expenses which are to be reimbursed pursuant to clause 2.1 were properly incurred and are
reasonable in amount. 

  

	2.5	 If the Board is satisfied that the conditions set out in clause 2.4 have been fulfilled, it shall make payment
to the [Director/Officer] within 28 days of the receipt of the evidence referred to in that clause. 

  

	3.	 Exclusions and limitations 

 

	3.1	 The indemnity in clause 2.1 shall not apply to: 

 

	 	(a)	 the extent prohibited by the CA 2006 or otherwise prohibited by law; 

 

	 	(b)	 any Liability incurred by the [Director/Officer] to the Company or any Associated Company;

  

	 	(c)	 a fine imposed in criminal proceedings, or a sum payable to a regulatory authority by way of a penalty in
respect of non-compliance with any requirement of a regulatory nature (however arising); 

  

	 	(d)	 other than as provided in clause 6.6, any Liability incurred by the [Director/Officer]: 

 

	 	(i)	 in defending criminal proceedings; 

 

	 	(ii)	 in defending civil proceedings brought by the Company or any Associated Company; or 

 

	 	(iii)	 [in connection with any Application for Relief;]4

  

	 	(e)	 any Liability relating to any taxation or national insurance payable by the [Director/Officer] in connection
with his remuneration or other payments or benefits received from the Company or any of its Subsidiaries; 

  

	 	(f)	 the extent that the [Director/Officer] is entitled to recover from any other person (including under any policy
of insurance) any amount in relation to a Claim, unless such amount is contingent on the [Director/Officer] having first exhausted his rights to indemnification in respect of the relevant Liability under this deed; 

 

	 	(g)	 any Liability incurred by, or any Claim made against, the [Director/Officer] which the Board reasonably
determines arises out of the [Director’s/Officer’s] fraud, wilful default, wilful misconduct, reckless conduct, dishonesty or act of bad faith 

  

 

	4 	 Note to Draft: Delete for Officer’s deed of indemnity.

  
 5 

	 	
(Misconduct), save that if a court, tribunal or regulatory authority thereafter finally determines that the relevant Liability or Claim did not arise from the
[Director’s/Officer’s] Misconduct, the [Director/Officer] may, by notice to the Company, request payment of such amount from the Company as the Company would have been liable to pay under this deed had the Board not made such a
determination and the Company shall, subject to the provisions of clause 2.4, pay such amount to the [Director/Officer] (without interest) within 28 days of the receipt of the evidence referred to in that clause. 

 

	4.	 Notification and conduct of claims 

 

	4.1	 If the [Director/Officer] receives any demand relating to any Claim or becomes aware of any circumstances which
might or may reasonably be expected to give rise to the Company being required to indemnify the [Director/Officer] under clause 2.1 and before incurring any costs, charges or expenses in respect of any Claim (including, but not limited to, securing
legal representation), the [Director/Officer] shall: 

  

	 	(a)	 as soon as reasonably practicable, give written notice of the circumstances to the Company, as well as any
other information which the Company may reasonably request from time to time; 

  

	 	(b)	 take all reasonable action to mitigate any Liability suffered by him in respect of the circumstances giving
rise to the Claim; 

  

	 	(c)	 take all such action as the Company may reasonably request to avoid, dispute, resist, appeal or defend any
claim and shall not make any admission of liability, agreement or compromise with any person in relation to any Claim without the prior written consent of the Company, such consent not to be unreasonably withheld; 

 

	 	(d)	 forward all documents received by the [Director/Officer] in respect of the Claim to the Company as soon as
reasonably practicable following receipt; 

  

	 	(e)	 assist the Company as it may reasonably require in resisting, defending or settling the Claim; and

  

	 	(f)	 provide to the Company such information about the nature and amount of costs incurred by the [Director/Officer]
in respect of a Claim as the Company may reasonably request. 

  

	4.2	 Notwithstanding the provisions of clause 4.1, the [Director/Officer] shall not be required to provide any
documents or information to the Company where doing so would result in a loss of privilege in such documents or information. 

  
 6 

	4.3	 The Company or a Subsidiary (as the case may be) will be entitled to take over, negotiate and conduct in the
[Director’s/Officer’s] name the defence or settlement of any Claim or to prosecute in his name for its own benefit any proceedings relating to a Claim. 

 

	4.4	 If the Company or a Subsidiary exercises its rights under clause 4.3, the Company shall: 

 

	 	(a)	 consult with the [Director/Officer] in relation to the conduct of the Claim or proceedings on aspects of the
Claim or proceedings materially relevant to the [Director/Officer] and keep the [Director/Officer] reasonably informed of material developments in the Claim or proceedings, provided that the Company or Subsidiary shall be under no obligation to
provide any information the provision of which is reasonably likely to adversely affect the Company’s or Subsidiary’s ability to claim in respect of the relevant loss under any applicable policy of insurance; 

 

	 	(b)	 take into account the [Director’s/Officer’s] reasonable requests related to the Claim or proceedings
(including any settlement) on issues which may be reasonably likely to result in material damage to the [Director’s/Officer’s] reputation; and 

  

	 	(c)	 have full discretion in the conduct or settlement of any Claim or proceedings relating to such Claim provided
the [Director/Officer] is not required to make any contribution to the settlement and the settlement contains no admission of liability by the [Director/Officer]. 

 

	4.5	 Any failure by the [Director/Officer] to comply with the provisions of this clause 4 shall not relieve the
Company of any obligations under this deed except to the extent that the Company is prejudiced thereby. 

  

	5.	 Payments 

  

	5.1	 The Company shall, in the event that a payment is made to the [Director/Officer] under this deed in respect of
a particular Liability, be entitled to recover from the [Director/Officer] an amount equal to any payment received by the [Director/Officer] under any policy of insurance or from any other third party source to the extent that such payment relates
to the Liability, or if the payment received by the [Director/Officer] is greater than the payment made under this deed, a sum equal to the payment made under this deed. The [Director/Officer] shall pay over such sum promptly on the Company’s
request. 

  
 7 

	5.2	 The Company shall pay such amount to the [Director/Officer] as shall after the payment of any tax thereon leave
the [Director/Officer] with sufficient funds to meet any Liability to which this deed applies. For the avoidance of doubt, when calculating the amount of any such tax the amount of any tax deductions, credits or reliefs which are or may be available
to the [Director/Officer] in respect of the relevant payment under this deed received by the [Director/Officer] or any payment made by the [Director/Officer] to a third party in respect of (or in or towards the discharge of) the relevant Liability,
but no other deductions, credits, reliefs or payments, is to be taken into account. In the event that any amount is paid to the [Director/Officer] under this deed but a tax deduction, credit or relief is (or becomes) available to the
[Director/Officer] in respect of the relevant payment under this deed, or in respect of any payment made by the [Director/Officer] to a third party in respect of (or in or towards the discharge of) the relevant Liability, which was not taken into
account in calculating the amount payable in respect of the relevant payment under this deed, the [Director/Officer] shall promptly make a payment to the Company of such an amount as is equal to the benefit of such deduction, credit or relief which
was not taken into account. 

  

	6.	 Funding of legal costs 

 

	6.1	 Subject to the terms of this deed, the Company shall loan to the [Director/Officer] such amounts as are
required to meet such legal and other reasonable costs of Restricted Proceedings as are incurred (or are to be incurred) by the [Director/Officer], subject to the maximum amount permitted, and in accordance with any terms and conditions imposed, by
law. 

  

	6.2	 The Company shall lend such amounts as provided for under clause 6.1 (Loan Amounts) to the
[Director/Officer] within 14 days of receiving notice in writing from the [Director/Officer] of the amount required together with such evidence of the costs having been or to be properly incurred as the Company may reasonably require.

  

	6.3	 No interest shall accrue on the Loan Amounts. 

 

	6.4	 All Loan Amounts outstanding to a [Director/Officer] in respect of particular Restricted Proceedings shall be
repaid by the [Director/Officer] if, in respect of those proceedings (as applicable): 

  

	 	(a)	 the [Director/Officer] is convicted; 

 

	 	(b)	 judgment is given against the [Director/Officer]; or 

 

	 	(c)	 the court refuses to grant the [Director/Officer] relief on the application, 

and such outstanding Loan Amounts shall be repaid no later than the date when the conviction, judgment or the refusal of relief (as applicable)
becomes Final. 

  
 8 

	6.5	 The Company shall not be required to lend any amount under this clause 6, and any amounts lent shall become
immediately repayable upon demand from the Company, to the extent that the Board reasonably determines that the Restricted Proceedings arose out of the [Director’s/Officer’s] Misconduct. 

 

	6.6	 In the event that Restricted Proceedings are either (i) abandoned, withdrawn or discontinued,
(ii) settled, (iii) a permanent stay is granted, or (iv) a final determination of the court is made (or proceedings otherwise finally conclude) without any of the events referred to in clause 6.4(a) to clause 6.4(c) (as applicable)
occurring (each such conclusion of proceedings being a Favourable Conclusion) then the indemnity provided under clause 2.1 shall thereafter apply with respect to all legal and other reasonable costs of those Restricted Proceedings as were
incurred by the [Director/Officer]. Any liability of the Company to so indemnify the [Director/Officer] shall be set-off against any liability of the [Director/Officer] to repay to the Company any Loan Amounts
outstanding in respect of those Restricted Proceedings; and shall be subject to the exclusions and limitations contained in clause 3, and clause 4 shall be applied with such changes as are appropriate. 

 

	6.7	 In the event that a Favourable Conclusion is reached in relation to particular Restricted Proceedings but any
Loan Amount lent to the [Director/Officer] in relation to those proceedings remains outstanding in circumstances where the Company is (for any reason) not liable or is no longer liable to indemnify or further indemnify the [Director/Officer] in
relation to those Restricted Proceedings, then all such Loan Amounts which remain outstanding shall be immediately repayable on demand from the Company. 

  

	7.	 D&O Insurance 

 

	7.1	 The Company shall purchase and maintain directors’ and officers’ liability insurance (D&O
Insurance) to insure the [Director/Officer] as a [director/officer] of the Company during the period of the [Director’s/Officer’s] appointment and for a period of six years thereafter to the extent that such insurance can be obtained
at such cost and on such terms as the Board considers to be reasonable. 

  

	7.2	 The Company shall not be in breach of its obligations under this clause 7 where its inability to purchase and
maintain D&O Insurance to insure the [Director/Officer] is attributable to a failure by the [Director/Officer] to comply with the [Director’s/Officer’s] obligations to the insurers or any failure to meet or comply with a condition of
the coverage of the D&O Insurance is attributable to acts or omissions of the [Director/Officer]. 

  
 9 

	7.3	 The Company shall ensure that the [Director/Officer] is provided at all times with a copy, or a summary of the
terms, of the Company’s current D&O Insurance policy, to the extent it relates to the [Director/Officer]. 

  

	7.4	 In the event of any breach of clause 7.1, the [Director/Officer] acknowledges that the Company’s liability
to the [Director/Officer] shall be limited to the extent permissible in accordance with the law, from time to time, and in particular with section 232 of the CA 2006. 

 

	7.5	 In the event that the [Director/Officer] shall have a right to make a claim under the provisions of clause 2.1
and clause 7.1, the [Director/Officer] shall claim first under the provisions of clause 2.1. Provided to the extent that the [Director/Officer] is not adequately protected under the provisions of clause 2.1, then the [Director/Officer] shall be
entitled subsequently to bring a claim under clause 7.1 subject to the exclusions and limitations contained in clause 3, and clause 4 shall be applied with such changes as are appropriate. 

 

	7.6	 Nothing in this deed modifies or limits any obligation on the [Director/Officer] under the terms of any
applicable D&O Insurance maintained by the Company from time to time. Furthermore, the terms of this deed shall not negate any obligation that the [Director/Officer] might have to assist the Company in complying with any obligations it may have
under the terms of the D&O Insurance and the [Director/Officer] shall not take, or fail to take, any action which may prejudice the ability of the Company to recover under any D&O Insurance. 

 

	8.	 Subrogation 

  

	8.1	 In the event that the Company makes any payment under this Deed, the Company shall be subrogated to the extent
of such payment to all of the [Director’s/Officer’s] rights of recovery against third parties (including any claim under any applicable directors’ and officers’ insurance policy) in respect of the payment and the
[Director/Officer] shall do everything that may be necessary to secure any such rights including: 

  

	 	(a)	 the execution of any documents necessary to enable the Company effectively to bring an action in the name of
the [Director/Officer]; and 

  

	 	(b)	 the provision of assistance as a witness. 

  
 10 

	9.	 Assignment and other dealings 

 

	9.1	 The Company may at any time assign, mortgage, charge, subcontract, delegate, declare a trust over or deal in
any other manner with any or all of its rights and obligations under this deed. 

  

	9.2	 The [Director/Officer] shall not assign (save for assignments by operation of law), transfer, mortgage, charge,
subcontract, declare a trust over or deal in any other manner with any of his or her rights and obligations under this deed. 

  

	10.	 Entire agreement 

 

	10.1	 This deed constitutes the entire agreement between the parties and supersedes and extinguishes all previous
agreements, promises, assurances, warranties, representations and understandings between them, whether written or oral, relating to its subject matter. 

  

	11.	 Severance 

  

	11.1	 If any provision or part-provision of this deed is or becomes invalid, illegal or unenforceable, it shall be
deemed modified to the minimum extent necessary to make it valid, legal and enforceable. If such modification is not possible, the relevant provision or part-provision shall be deemed deleted. Any modification to or deletion of a provision or
part-provision under this clause 11 shall not affect the validity and enforceability of the rest of this deed. 

  

	12.	 Notices and demands 

 

	12.1	 Any notice or demand given to a party under or in connection with this deed shall be in writing and shall be:

  

	 	(a)	 delivered by hand or by pre-paid first-class post or other next working
day delivery service at its registered office (if a company) or the address given in this deed (in any other case) or as otherwise notified in writing to the other party; or 

 

	 	(b)	 sent by fax to its main fax number. 

  
 11 

	12.2	 Any notice or demand shall be deemed to have been received: 

 

	 	(a)	 if delivered by hand, on signature of a delivery receipt or at the time the notice or demand is left at the
proper address; 

  

	 	(b)	 if sent by pre-paid first-class post or other next working day delivery
service, at 9.00 am on the second Business Day after posting; or 

  

	 	(c)	 if sent by fax, at 9.00 am on the next Business Day after transmission. 

 

	12.3	 This clause does not apply to the service of any proceedings or other documents in any legal action.

  

	13.	 Variation and waiver 

 

	13.1	 No variation of this deed shall be effective unless it is in writing and signed by the parties (or their
authorised representatives). 

  

	13.2	 No failure or delay by a party to exercise any right or remedy provided under this deed or by law shall
constitute a waiver of that or any other right or remedy, nor shall it prevent or restrict the further exercise of that or any other right or remedy. No single or partial exercise of such right or remedy shall prevent or restrict the further
exercise of that or any other right or remedy. 

  

	14.	 Counterparts 

  

	14.1	 This deed may be executed in counterparts and each counterpart constitutes an original, and all the
counterparts together constitute one and the same deed. If the deed is executed in duplicate, each duplicate constitutes an original. 

  

	15.	 Third party rights 

 

	15.1	 The Contracts (Rights of Third Parties) Act 1999 shall not apply to this deed and no rights or benefits
expressly or impliedly conferred by it shall be enforceable under that Act against the parties to it by any other person. 

  

	16.	 Governing law and jurisdiction 

 

	16.1	 This deed and any dispute or claim (including non-contractual disputes
or claims) arising out of or in connection with it or its subject matter or formation shall be governed by and construed in accordance with the law of England and Wales. 

  
 12 

	16.2	 Each party irrevocably agrees that the courts of England and Wales shall have exclusive] jurisdiction to settle
any dispute or claim arising out of or in connection with this deed or its subject matter or formation (including non-contractual disputes or claims). 

  
 13 

 IN WITNESS WHEREOF this agreement has been executed and delivered as a deed on the
date first above written. 
 EXECUTED as a DEED by     

POLESTAR AUTOMOTIVE HOLDING 
 UK [LIMITED/PLC] 

 

							
		 		 		 	 
		 		 		 	Signature
				
	in the presence of:	 		 		 	 
		 		 		 	Witness
				
		 		 	Witness name:	 	 
				
		 		 	Witness address:	 	 
				
		 		 	Witness occupation:	 	 

  
 [Polestar Automotive
Holding UK PLC—Director Indemnification Deed—Signature Page] 

  

							
	 SIGNED as a DEED by    

[DIRECTOR/OFFICER]
	 		 		 	 
		 		 		 	Signature
				
	in the presence of:	 		 		 	 
		 		 		 	Witness
				
		 		 	Witness name:	 	 
				
		 		 	Witness address:	 	 
				
		 		 	Witness occupation:	 	 

  
 [Polestar Automotive
Holding UK PLC—Director Indemnification Deed—Signature Page]

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