Document:

Exhibit 4.16

Exhibit 4.16

Form 3200-24

(November 2001) 

UNITED STATES

DEPARTMENT OF THE INTERIOR

BUREAU OF LAND MANAGEMENT

OFFER TO LEASE AND LEASE FOR GEOTHERMAL RESOURCES Serial No. N77669

 The undersigned (see reverse) offers to lease all or any of the lands in item 2 that are available for lease pursuant to the Geothermal Steam Act of 1970 (30 U.S.C  1001-10025)

	
	RECEIVED NS0 BLM

2003 OCT 1 AM 8:55

Read Instructions Before Completing

					
	1.

	Name

	Noramex Corp

	

	

Street

	

Suite 900 – 409 Granville Street,

	 
	 
	 

	 
	City,

	State,

	Zip Code Vancouver, B. C. Canada V6C 1TC

	 

	 

					
	2. Surface managing agency if other than BLM:

	 
	 
	Unit/ Project

	 

Legal description of land requested (segregate by public domain and acquired lands):

									
	T.

	 
	36N

	 
	R.   34E

	Meridian  Mt. Diablo

	State Nevada

	County  Humboldt

	 

					
	Section 24: Lots 1-8,

	S 1/2

N 1/2

	352.24 acres

	 
	 

	 
	S 1/2

	320.00 acres

	 
	 

	 
	 
	 
	 
	 

	Section 26: Lots 1-12, 

	N 1/2, SW 1/4

SE 1/4

	506.70 acres

160.00 acres

	 
	 

	 
	E 1/2

	320.00 acres

	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	Total acres applied for

	1338.94

	 
	 
	 
	Percent U.S interest

	 

	Amount remitted Filing fee $75.00

	 
	Rental fee $1339.00

	Total $

	1414.00

	 
	 
	 
	 
	 

DO NOT WRITE BELOW THIS LINE

3. Land included in lease:

									
	T.

	R

	Meridian

	State

	 
	Country

	 
	 
	 

	T 36 N., R. 34 E., MDM, Nevada

	 
	 

	sec. 24, lots 1-8, N2; 

	 
	 

	sec 26, lots 1-12, SE;

	Described lands were not within a KGS/KGRA

	 

	 
	as of

	July 22 2004

	 

	 
	/s/

	 

	Humboldt Country

	Deputy State Director, Mineral Resources

	 

	 
	 
	 

	1338.94 Total acres in lease

	 
	 

	$1339.00 Rental retained

	 
	Total acres in lease_______________

	 
	 
	Rental retained $ _______________

	 
	 
	 

In accordance with the above offer, or the previously submitted competitive bid, this lease is issued granting the exclusive right to drill for, extract, product, remove, utilize, sell, and dispose of all the geothermal resources in the lands described in item 3 together with the right to build and maintain necessary improvements thereupon, for a primary term of 10 years.  Rights granted are subject to applicable laws, the terms, conditions, and attached stipulations of this lease, the Secretary of the Interior’s regulations and formal orders in effect as of lease issuance and, when not inconsistent with lease rights granted or specific provisions of this lease, regulations and formal orders hereafter promulgated.

									
	 
	THE UNITED STATES OF AMERICA

	 

	Type of lease:

	By:

	/s/

	 

	 
	 
	 
	(Signing officer)

	 

	[ X ] Noncompetitive

	Deputy State Director, Minerals Management

	JUL 22 2004

	 
	(title)

	(Date)

	[    ] Competitive

	 
	 

	 
	 
	 
	 

	[    ] Other

	 
	EFFECTIVE DATE OF LEASE

	 
	AUG 01 2004

	 

 (Continued on page 2)

4. (a) Undersigned certifies that:

(1) Offeror is a citizen of the United States; an association of such citizens; a municipality; or a corporation organized under the laws of the United States, any State or the District of Columbia; (2) All parties holding an interest in the offer are in compliance with 43 CFR 3200 and the authorizing Act; (3) Offeror’s chargeable interests, direct and indirect, do not exceed that allowed under the Act; and (4) Offeror is not considered a minor under the laws of the State in which the lands covered by this offer are located.

 (b) 

Undersigned agrees that signature to this offer constitutes acceptance of this lease, including all terms, conditions and stipulations of which offeror has been given notice, and any amendment or separate lease that may cover any land described in this offer open to lease application at the time this  offer was filed but omitted for any reason from this lease.  The offeror further agrees that this offer cannot be withdrawn, either in whole or part, unless the withdrawal is received by the BLM State Office before this lease, an amendment to this lease, or a separate lease, whichever covers the land described in the withdrawal, has been signed on behalf of the United States.

     This offer will be rejected and will afford the offeror no priority if it is not properly completed and executed in accordance with The regulations, or if it is not accompanied by the required payments.  Title 18 U.S.C Sec. 1001 makes it a crime for any person knowingly and willfully to make to any Department or agency of the United States any false, fictitious or fraudulent statements or representations as to any matter within its jurisdiction.

								
	Duly executed this

	1 st 

	day of 

	October

	xx

	2003

	/s/ Brian Fairbank

	 

	 
	(Signature of Lessee or Attorney in fact)               

	 

	 
	 
	 

			
	LEASE TERMS

	Sec. 1.  Rentals- Rentals shall be paid to the proper office of lessor in advance of each lease year until there is production in commercial quantities from the leased lands.  Annual rental rates per acre or fraction thereof are: $1 for noncompetitive leases and $2 for competitive leases.

     If this lease or a portion thereof is committed to an approved cooperative or unit plan which includes a well capable of producing leased resources, and the plan contains a provision for allocation of production, royalties shall be paid on the production allocated to this lease.  However, annual rentals shall continue to be due for those lands not within a participating area.

  Failure to pay annual rental, if due, on or before the anniversary date of this lease (or next official working day if office is closed) shall automatically terminate this lease by operation of law.  Rentals may be suspended by the Secretary upon a sufficient showing by lessee.

Sec. 2.  Royalties- Royalties shall be paid to proper office of lessor.  Royalties shall be computed in accordance with regulations and orders.  Royalty rates on production are: 10 percent for steam, heat, or energy; 5 percent for byproducts; and 5 percent for demineralized water

     Lessor reserves the right to establish reasonable minimum values on production after giving lessee notice and an opportunity to be heard.  Royalties shall be due and payable on the last day of the month following the month in which production occurred.

     A minimum royalty shall be due for any lease year beginning on or after the commencement of production in commercial quantities in which royalty payments aggregate less than $2 per acre.  Lessee shall pay such difference at the end of lease year.  This minimum royalty may be waived, suspended, or reduced, and the above royalty rates may be reduced for all or portions of this lease if the Secretary determines that such action is necessary to encourage the greatest ultimate recovery of the leased resources, or is otherwise justified.

Sec. 3.  Bonds- Lease shall file and maintain any bond required under regulations.

Sec. 4.  Diligence, rate of development, unitization, and drainage- Lessee shall perform diligent exploration as required by regulations and shall prevent unnecessary damage to, lost of, or waste or leased resources.  Lessor reserves right to specify rates of development and production in the public interest and to require lessee to subscribe to a cooperative or unit plan, within 30 days of notice, if deemed necessary for proper development and operation of the area, field, or pool embracing these leased lands.  Lessee shall drill and produce wells necessary to protect leased lands from drainage or pay compensatory royalty for drainage in amount determined by lessor.

Sec. 5.  Documents, evidence, and inspection- Lessee shall file with proper office of lessor, not later than (30) days, after effective date thereof, any contract or evidence of other arrangement for the sale or disposal of production.  At such times and in such form as lessor may prescribe, lessee shall furnish detailed statements showing amounts and quality of all products removed and sold, proceeds therefrom, and amount used for production purposes or unavoidably lost.  Lessee may be required to provide plats and schematic diagrams showing development work and improvements, and reports with respect to parties in interest, expenditures, and depreciation costs.

     In the form prescribed by lessor, lessee shall keep a daily drilling record, a log, and complete information on well surveys and tests and keep a record of subsurface investigations and furnish copies to lessor when required.  Lessee shall keep open at all reasonable times for inspection by any authorized officer of lessor, the leased premises and all wells, improvements, machinery, and fixtures thereon, and all books, accounts, maps, and records relative to operations, surveys, or investigations on or in the leased lands.  Lessee shall maintain copies of all contracts, sales agreements, accounting records, and documentation such as billings, invoices, or similar documentation that support costs claimed as manufacturing, preparation, and/or transportation costs.  All such records shall be maintained in lessee’s accounting offices for future audit by lessor.  Lessee shall maintain required records for 6 years after they are generated or, if an audit or investigation is underway, until released of the obligation to maintain such records by lessor.

     During existence of this lease, information obtained under this section shall be closed to inspection by the public in accordance with the Freedom of Information Act (5 U.S.C. 552)

Sec.6.  Conduct of operations- Lessee shall conduct operations in a manner that minimizes adverse impacts to the land, air, and water, to cultural, biological, visual, and other resources, and to other land uses or users.  Lessee shall take reasonable measures deemed necessary by

	 
	lessor to accomplish the intent of this section.  To the extent consistent with leased rights granted, such measures may include, but are not limited to, modification to siting or design of facilities, timing of operations, and specification of interim and final reclamation measures.  Lessor reserves the right to continue existing uses and to authorize future uses upon or in the leased lands, including the approval of easements or right-of-ways.  Such uses shall be conditioned so as to prevent unnecessary or unreasonable interference with rights of lessees.

     Prior to disturbing the surface of the leased lands, lessee shall contact lessor to be apprised of procedures to be followed and modifications or reclamation measures that may be necessary.  Areas to be disturbed may require inventories or special studies to determine the extent of impacts to other resources.  Lessee may be required to complete minor inventories or short term special studies under guidelines provided by lessor.  If in the conduct of operations, threatened or endangered species, objects of historic or scientific interest, or substantial unanticipated environmental effects are observed, lessee shall immediately contact lessor.  Lessee shall cease any operations that would result in the destruction of such species or objects.

Sec. 7.  Production of byproducts- If the production, use, or conversion of geothermal resources from these leased lands is susceptible of producing a valuable byproduct or byproducts, including commercially demineralized water for beneficial uses in accordance with applicable State water laws, lessor may require substantial beneficial production or use thereof by lessee.

Sec. 8.  Damages to property-Lessee shall pay lessor for damage to lessor’s improvements, and shall save and hold lessor harmless from all claims for damage or harm to persons or property as a result of lease operations.

Sec. 9.  Protection of diverse interests and equal opportunity- Lessee shall maintain a safe working environment in accordance with standard industry practices and take measures necessary to protect the health and safety of the public.  Lessor reserves the right to ensure that production is sold at reasonable prices and to prevent monopoly.

     Lessee shall comply with Executive Order No. 11246 of September 24, 1965, as amended, and regulations and relevant orders of the Secretary of Labor issued pursuant thereto:  Neither lessee nor lessee’s subcontractor shall maintain segregated facilities.

Sec. 10.  Transfer of lease interests and relinquishment of lease - As required by regulations, lessee shall file with lessor, any assignment or other transfer of an interest in this lease.  Lessee may relinquish this lease or any legal subdivision by filing in the proper office a written relinquishment, which shall be effective as of the date of filing, subject to the continued obligation of the lessee and surety to pay all accrued rentals and royalties.

Sec.11.  Delivery of premises- At such time as all or portions of this lease are returned to lessor, lessee shall place all wells in condition for suspension or abandonment, reclaim the land as specified by lessor, and within a reasonable period of time, remove equipment and improvements not deemed necessary by lessor for preservation of producible wells or continued protection of the environment.

Sec.12.  Proceedings in case of default- If lessee fails to comply with any provisions of this lease, and the noncompliance continues for 30 days after written notice thereof, this lease shall be subject to cancellation in accordance with the Act.  However, if this lease includes land known, to contain a well capable of production in commercial quantities, it may be cancelled only by judicial proceedings.  This provision shall not be construed to prevent exercise by lessor or any other legal and equitable remedy, including waiver of the default.  Any such remedy or waiver shall not prevent later cancellation for the same default occurring at any other time.

     Whenever the lessee fails to comply in a timely manner with any of the provisions of the Act, this lease, the regulations, or formal orders, and immediate action is required, the Lessor may enter on the leased lands and take measures deemed necessary to correct the failure at the expense of the Lessee.

Sec. 13.  Heirs and successors-in-interest- Each obligation of this lease shall extend to and be blinding upon, and every benefit hereof shall inure to, the heirs, executors, administrators, successors, or assigns of the respective parties hereto. 

NVN- 77669

BLM WINNEMUCCA FIELD OFFICE

GEOTHERMAL LEASE STIPULATIONS

Noncompetitive areas and all Known Geothermal Resource Areas (KGRA) will be open to geothermal leasing with the following restrictions:

Sage grouse: The following stipulations apply to protect sage grouse and their habitat. Known habitat is defined as those areas where sage grouse have been observed. Potential habitat is an areas where sage grouse may occur. Known Breeding habitat and Leks: February through June, but may vary on site specific basis. Avoid all activity within 3.3 km. (2 miles) of known leks during the mating season - March through May, or as determined by Field Office and Wildlife Personnel. No surface occupancy within 3.3 km (2 miles) of known leks at all times. Nesting Habitat and Brood-rearing habitats: (April through August per Interim NV Guidelines) and Winter Habitats: (October through March). Known Habitat: Avoid all development or exploration activities within 3.3 km (2 miles) or other appropriate distance based on site-specific conditions, of leks, or within 1 km. (0.6 mi.) of known nesting, brood-rearing and winter habitat. Potential Habitat: Avoid permanent occupancy of potential habitat. 

General Sage Grouse Stipulations: Prior to entry on any lease areas which include known or potential habitat, the lessee (operator) shall contact the appropriate BLM Field Office to discuss any proposed activities.

Controlled Or Limited Surface Use: (avoidance and/or required mitigation measures to be developed) Are applicable for all leases proposed in areas of crucial deer, antelope, and big horn sheep habitat during migration and critical fawning and kidding areas.

Other Biota: Prior to site development, a survey for invertebrates will be conducted on areas where geothermal surface expressions occur.

Threatened, Endangered or Sensitive Species:

No surface occupancy: No surface occupancy within 1 mile of occupied or identified potential Lahontan Cutthroat Trout (LCT) habitat.

Controlled Or Limited Surface Use: (avoidance and/or mitigation measures to be developed) The lease area may now or hereafter contain plants, animals, or their habitats determined to be threatened, endangered, or other special status species. BLM may recommend modifications to exploration and development proposals to further its conservation and management objective to avoid BLM-approved activity that will contribute to a need to list such a species or their habitat. BLM may require modifications to or disapprove proposed activity that is likely to result in jeopardy to the continued existence of a proposed or listed threatened or endangered species or result in the destruction or adverse modifications of a designated or proposed critical habitat. BLM will not approve any ground-disturbing activity that may affect any such species or critical habitat until it completes its obligations under applicable requirements of the Endangered Species Act, 16 U.S.C. 1531, as amended, including completion of any required procedure for conference or consultation.

Wild Horse and Burros.

Controlled or Limited Surface Use: (avoidance and/or mitigation measures to be developed.) If wild horse or burro populations are located on sites proposed for development, it may be necessary to avoid or develop mitigation measures to reduce adverse impacts to horses. These measures may include providing alternative water sources for horses of equal quality and quantity,

Migratory Birds: Surface disturbing activities during the migratory bird nesting season (March to July) may be restricted in order to avoid potential violation of the Migratory Bird Act. Appropriate inventories of migratory birds shall be conducted during analysis of actual site development. If active nests are located, the proponent shall coordinate with BLM to establish appropriate protection measures for the nesting sites which may include avoidance or restricting or excluding development during certain areas to times when nests and nesting birds will not be disturbed. During development and production phases, if artificial ponds potentially detrimental to migratory birds are created, these shall be fitted with exclusion devices such as netting or floating balls.

Vegetation

Controlled Or Limited Surface Use: (avoidance and/or mitigation measures to be developed). All areas of exploration and or development disturbance will be reclaimed including re-contouring disturbed areas to blend with the surrounding topography and using appropriate methods to seed with a diverse perennial seed mix. The seed mix used to reclaim disturbed areas would be "certified" weed free.

Riparian Areas: No surface occupancy within 650 feet (horizontal measurement) of any surface water bodies, riparian areas, wetlands, playas or 100-year floodplains to protect the integrity of these resources (as indicated by the presence of riparian vegetation and not actual water). Exceptions to this restriction maybe considered on a case-by-case basis if the BLM determines at least one of the following conditions apply: I) additional development is proposed in an area where current development has shown no adverse impacts, 2) suitable off-site mitigation will be provided if habitat loss is expected, or 3) BLM determines development proposed under any plan of operations ensures adequate protection of the resources. 

Noxious Weeds: During all phases of exploration and development, the lessee shall maintain a noxious weed control program consisting of monitoring and eradication for species listed on the Nevada Designated Noxious Weed List (NRS 555.010).

Cultural Resources

No surface occupancy: No surface occupancy within the setting of National Register eligible sites where integrity of setting is critical to their eligibility.

Controlled Or Limited Surface Use: (avoidance and/or mitigation measures to be developed). All surface disturbing activities proposed after issuance of the lease are subject to compliance with Section 106 of the National Historic Protection Act (NHPA) and it's implementation through the protocol between the BLM Nevada State Director and the Nevada State Historic Preservation Officer.

Native American

No surface occupancy: No surface occupancy within the setting of National Register eligible Traditional Cultural Properties (TCPs) where integrity of the setting is critical to their eligibility. For development and production phases, surface occupancy may be limited to a specific distance or precluded at hot springs, pending conclusion of the Native American consultation process.

All development Activities proposed under the authority of this lease subject to the requirement for Native American consultation prior to BLM authorizing the activity. Depending on the nature of the lease developments being proposed and the resources of concerns to tribes potentially effected, Native American consultation and resulting mitigation measures to avoid significant impacts may extend time frames for processing authorizations for development activities, as well as, change in the ways in which developments are implemented.

Paleontological Resources

Where significant paleontological resources are identified, mitigating measures such as

data recovery, restrictions on development, and deletion of some areas from development may be required on a case by case basis.

Water Resources

As exploration and development activities commence, the operator shall institute a hydrologic monitoring program. The details of the monitoring programs will be site specific and the intensity shall be commensurate with the level of exploration. For example, if the proponent will be conducting seismic studies the monitoring would be limited to the identification of water resources to be monitored as activities continue; if a drilling program were to be undertaken the number of aquifers encountered, their properties, their quality, and their saturated thickness would be documented. The information collected will be submitted to the Bureau of Land Management and will be used to support future NEPA documentation as development progresses. Adverse impacts to surface expressions of the geothermal reservoir (hot springs), and Threatened and Endangered Species habitat are not acceptable. The lessee will monitor the quality, quantity, and temperature of any hot springs or other water resource within the project area whenever they are conducting activities which have the potential to impact those resources. If adverse impacts do occur, BLM will require the lessee to take corrective action to mitigate the impact. Corrective action may include shutting down the operation. These are in addition to the other stipulations. These are LEASE stipulations, not operational, the information gathered under the monitoring stipulation will be used to identify future impacts at the operational stage.

Lands & Realty

No drilling, including exploration or development activities within linear Rights-of-Way

Hazardous Materials

Prior to exploration and development, an emergency response plan will be developed to include contingencies for hazardous spills and disposal material.

				
	/s/ Brian D. Fairbank

	 
	July 5, 2004

	 

	Signature of Lessee

	 
	Date

	 

Serial Number NVN-77669

BLM WINNEMUCCA FIELD OFFICE

GEOTHERMAL LEASE STIPULATION

FOR SPECIAL STATUS SPECIES

The nevada oryctes (Oryctes nevadensis), a special status plant species (T&E Sensitive) was identified section 8, the same township of the lands contained in this lease. The lease lands contain similar habitat and associated plant species. Prior to approval of ground disturbing activities BLM will require a field Inventory to determine the presence of this species.

			
	 
	/s/ Brian Fairbank

	 

	 
	Signature of Lessee, Agent, or Attorney in Fact

	 

	 
	 
	 

	 
	July 5, 2004

	 

	 
	Date

	 

Serial Number NVN-77669

BLM WINNEMUCCA FIELD OFFICE

GEOTHERMAL LEASE STIPULATION

FOR GUZZLERS

A Nevada Department of Wildlife guzzler is located on the lands within sec.12, T. 34N.,R 36 E MDM, Nevada. On a case-by-case basis, BLM Winnemucca Field Office will require that a “buffer” be maintained around the guzzler during the months of June through October to insure that wildlife will not be prevented access to the site.

			
	 
	/s/ Brian Fairbank

	 

	 
	Signature of Lessee, Agent, or Attorney in Fact

	 

	 
	 
	 

	 
	July 5, 2004

	 

	 
	DateExhibit 4.17

Exhibit 4.17

SHARE PURCHASE AGREEMENT

THIS AGREEMENT dated for reference the 27th day of August, 2004.

			
	BETWEEN:

	NEVADA GEOTHERMAL POWER INC.

# 900 – 409 Granville St. Vancouver, B.C.

	(referred to as the “Vendor”)

	OF THE FIRST PART

	AND:

	 

RUNNING FOX RESOURCES CORP.

301 – 455 Granville St, Vancouver BC

	(referred to as the “Purchaser”)

	OF THE SECOND PART

	AND:

	

BLUE DESERT MINING (US) INC., a body corporate incorporated pursuant to the laws of Nevada and having its US Registered Offices at 6121 Lakeside Dr., Suite 260, Reno, Nevada 89511 and its head office located at # 900 – 409 Granville St., Vancouver, B.C.

	(referred to as the “Company”)

 

	OF THE THIRD PART

WHEREAS:

A.

The Vendor is the registered and beneficial owner of all the issued and outstanding shares in the capital stock of the Company (the “Shares”), and the Company owns 100% of the Mohave Property in Alaska, and 100% of the Gobi Property in Alaska (subject to a 2% NSR in favour of Hunter Exploration and subject to a Option Agreement with AngloGold US Inc wherein AngloGold may earn up to a 60% Joint Venture interest in the Gobi Property);

B.

The Vendor has agreed to sell and the Purchaser has agreed to purchase 100% of the Shares subject to the following terms and conditions.

NOW THEREFORE THIS AGREEMENT WITNESSETH THAT in consideration of the promises, covenants, terms, conditions, representations and warranties hereinafter set forth, the parties hereto agree each with the other as follows:

1.

SALE AND PURCHASE

1.1

The Purchaser hereby purchases and the Vendor hereby sells the Shares for consideration of Four Hundred Fifty Thousand (450,000) common shares of the Purchaser (the "Purchaser's Shares") to be paid within 15 business days of TSX Venture Exchange approval of this Agreement (the "Closing" date).

1.2

This Agreement is subject to the Purchaser's satisfactory review of all of the Company's records and documentation, to be completed within five business days of receipt of said documentation.

1.3 

The Vendor acknowledges that it may be required to execute and deliver such other documents as may be reasonably requested by counsel for the Purchaser in order to effect completion of the transaction herein contemplated and the Vendor hereby agrees to execute and deliver any and all such documents forthwith at the request of the Purchaser or their solicitors.

1.4

On the Closing date, held at the offices of the Purchaser, the Vendor will deliver to the Purchaser, its share certificates representing the Shares of the Company duly endorsed for transfer to the Purchaser, and all corporate records, registers and documents including the minute book and corporate seal of the Company, and the Purchaser will deliver to the Vendor the Purchaser’s Shares.

1.5

The Purchaser's Shares will be delivered in four certificates with resale restrictions as follows:

a) 100,000 shares subject to a hold period of 6 months from the Closing Date;

b) 100,000 shares subject to a hold period of 12 months from the Closing Date;

c) 100,000 shares subject to a hold period of 18 months from the Closing Date;

d) 150,000 shares subject to a hold period of 24 months from the Closing Date;

2.

THE REPRESENTATIONS AND WARRANTIES OF THE VENDOR

2.1

In order to induce the Purchaser to enter into and consummate this Agreement, the Vendor represents and warrants to the Purchaser as follows:

(a)

that the Company owns 100% of the Mohave Property in Alaska, with the Mohave Mineral Property more particularly described in Schedule "A" Mineral Properties and Company Assets;

(b)

that the Company owns 100% of the Gobi Property in Alaska (subject to a 2% NSR in favour of Hunter Exploration and subject to a Option Agreement with AngloGold US Inc wherein AngloGold may earn up to a 60% Joint Venture interest in the Gobi Property), with the Gobi Mineral Property more particularly described in Schedule "A" Mineral Properties and Company Assets;

(c)

that the most recent US Corporation Income Tax Return, which contains the financial information of the Company for the fiscal period ended June 30, 2003 attached hereto as Schedule "B" are substantially true and correct in every material respect and present fairly the financial position of the Company, and all tax returns and annual or other reports of the Company required to be filed prior to the date hereof have been filed and are substantially true, correct and accurate to the best knowledge of the Vendor. All taxes and other governmental charges have been paid or accrued in the Company's books;

(d)

the Vendor has due and sufficient right and authority to enter into this Agreement and to transfer the legal and beneficial title and ownership of all of the outstanding Shares, which are validly issued, fully-paid and non-assessable common shares not subject to any trading restrictions, with the authorized capital of the Company consisting of 250,000 common shares with no par value of which 100 Shares are issued and outstanding in the capital of the Company, to the Purchaser, such that the Purchaser wilt own outright, 100% of the Company;

(e)

no person, firm or corporation has any agreement or option or a right capable of becoming an agreement for the purchase of the Shares, or any right capable of becoming an agreement for the purchase, subscription or issuance of any of the unissued shares in the capital stock of the Company;

(f)

the Company has the corporate power to own the assets owned by it as shown in Schedule ''A'', and to carry out the business carried on by it and is duly registered and qualified to carry on business in the States of Nevada and Alaska, and ail other jurisdictions in which it does so;

(g)

the Company has not guaranteed, or agreed b guarantee, any debt, liability or other obligation of any person, firm or corporation, and the accounts payable and the outstanding debts, and liabilities, contingent or otherwise, of the Company will not exceed Five Hundred Dollars ($500) as at the Closing date of this Agreement;

(h)

no dividends or other distribution of shares in the capital of the Company have been made, declared or authorized, and the business of the Company has been carried on in the ordinary course, and the Company is not in breach of any laws, ordinances, statutes, regulations, by-laws, orders or decrees which apply to it;

(i)

the Company does not have any contracts, agreements, undertakings, or arrangements whether oral, written or implied with employees, lessees, licensees, managers, accountants, suppliers, agents, distributors, officers, directors, lawyers, contractors, geologists, or others of any kind, with the exception of the Gobi Property Agreement with Hunter Exploration, and the Gobi Property Option Agreement with AngloGold US Inc.;

(j)

there is no basis for and there are no actions, suits, judgments, investigations or proceedings, except as disclosed in Schedule "C" (if any), outstanding or pending or to the knowledge of the Company or the Vendor threatened against or affecting the Company at law or in equity or before or by a federal, provincial, state, municipal or other governmental department, commission, board, bureau or agency;

(k)

all material transactions of the Company have been promptly and properly recorded or filed in or with its respective books and records. The minute books of the Company contain all records of the meetings and proceedings of shareholders and directors thereof, including all Agreements pertaining to the Mineral Properties as set out on Schedule "A" attached hereto;

(I) 

the performance of this Agreement will not be in violation of the constating documents of the Company or of any agreement to which the Vendor or the Company are a party and will not give any entity, person or company any right to terminate or cancel any agreement or any right enjoyed by the Company and will not result in the creation or imposition of any lien, encumbrance or restriction of any nature whatsoever in favor of a third party upon or against the assets of the Company;

(m)

 the only present director, officer, and signing officer of the Company is Brian Fairbank, who agrees to relinquish any signing authority and to appoint Michael Meyers as Director, and Wayne Waters as Director upon the completion of this Agreement.

2.2

The representations and warranties by the Vendor in this Agreement or any certificates or documents delivered pursuant to the provisions hereof or in connection with the transaction contemplated hereby will be true as of the date of Closing of this Agreement as though such representations and warranties were made as of such time. Notwithstanding any investigations or inquiries made by the Purchaser, the representations, warranties, covenants and agreements of the Vendor will survive the execution and Closing of this Agreement and will continue in full force and effect. In the event that any of the said representations and warranties are found to be materially incorrect or there is a material breach of any covenant or agreement of the Vendor, which will result in any loss or damage sustained directly or indirectly by the Purchaser, then the Vendor will pay the amount of such loss or damage to the Purchaser within thirty (30) days of receiving notice thereof, provided that the Purchaser will not be entitled to make any claim unless the loss or damage suffered will exceed the amount of One Thousand Dollars ($1,000).

3.

NOTICES 

3.1

All notices or other communications hereunder will be in writing and will be deemed to have been duly given if delivered by hand or courier to the addressee at the address appearing on the first page hereof or to such other address as may be given in writing by the Vendor or the Purchaser, and will be deemed to have been received on the date of delivery.

4.

GENERAL

4.1 

This Agreement will enure to the benefit of and will be binding upon the Parties, their heirs, executors, administrators and assigns and the Purchaser and its successors and assigns. 

4.2

Time is of the essence in this Agreement.

4.3

The terms and provisions herein contained constitute the entire agreement between the parties and will supersede all previous oral or written communications.

4.4

If any part of this Agreement is held invalid or unenforceable by a Court of law, then this Agreement will be read as if such invalid or unenforceable provision were removed.

4.5

This Agreement will be governed by the laws of British Columbia, and the parties to this Agreement hereby attorn to that jurisdiction.

IN WITNESS WHEREOF the Vendor and the Purchaser and the Company have duly executed this Agreement on the day and year first above written.

				
	NEVADA GEOTHERMAL POWER INC.

	 
	/s/ Director

	In the presence of

	/s/

	 
	Authorized Signatory

	

	 
	 

	

	 
	 

				
	RUNNING FOX RESOURCE CORP.

	 
	/s/

	In the presence of

	/s/

	 
	Authorized Signatory

	

	 
	 

	

	 
	 

				
	BLUE DESERT MINING (US) INC.

	 
	/s/

	In the presence of

	/s/

	 
	Authorized Signatory

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}]]