Document:

Exhibit 10.2

 

Execution Version

 

When Recorded Return To:

 

Mayer Brown LLP

71 S. Wacker Drive

Chicago, Illinois 60606

Attention: Jack Edelbrock

 

Recorder’s Use

 

 

 

LEASEHOLD DEED OF TRUST, ASSIGNMENT OF
LEASES, RENTS, AS

EXTRACTED COLLATERAL AND CONTRACTS, SECURITY AGREEMENT AND

FIXTURE FILING

 

THIS LEASEHOLD DEED OF TRUST, ASSIGNMENT
OF LEASES, RENTS AND CONTRACTS, SECURITY AGREEMENT AND FIXTURE FILING SECURES OBLIGATIONS AS SUCH TERM IS DEFINED BELOW.

 

THIS DOCUMENT SERVES AS A FIXTURE FILING
UNDER THE UTAH UNIFORM COMMERCIAL CODE.

 

TRUSTOR’S ORGANIZATION AL IDENTIFICATION
NUMBER IS: NV20081135729

 

THIS LEASEHOLD DEED OF TRUST, ASSIGNMENT
OF LEASES, RENTS, AS EXTRACTED COLLATERAL AND CONTRACTS, SECURITY AGREEMENT AND FIXTURE FILING (“Deed of Trust”)
is made as of February      , 2019, by between DESERT HAWK GOLD CORP., a Nevada corporation, having an office located
at 1290 Holcomb Ave., Reno, NV 89502 (“Trustor”), as trustor in favor of OLD REPUBLIC NATIONAL TITLE INSURANCE
COMPANY, a title insurance company qualified to transact business in Utah, as trustee, whose mailing address is 3900 Traverse
Mountain Blvd, Suite 201 Lehi, Utah 84043 (“Trustee”), for the benefit of PDK UTAH HOLDINGS LP, a limited
partnership organized under the laws of the province of Ontario, having an office located at 437 Madison Avenue, 28th
Floor, New York, NY 10022 a, as beneficiary (“Beneficiary”).

 

BACKGROUND

 

WHEREAS, the Trustor is the tenant pursuant to a certain Second
Amended and Restated Lease Agreement, dated February       2019 (the “Ground Lease”) between Clifton Mining Company,
a Utah corporation (“Clifton”), The Woodman Mining Company, a Utah corporation (“Woodman”), as
lessors (collectively “Lessor”) and the Trustor, as tenant; and

 

WHEREAS, A memorandum or short form of
the Ground Lease is being recorded immediately prior to the recording of this Deed of Trust.

 

WHEREAS, pursuant
to the terms of the Ground Lease, the Trustor is the owner of the leasehold interest in that certain real property, consisting
of certain patented and unpatented mining claims, together with the buildings and improvements constructed thereon located in
the County of Tooele, State of Utah, as more fully described on Schedule A hereto (the “Premises”); and

 

     

     

    

 

WHEREAS, simultaneously with the execution
of this Deed of Trust, the Trustor has entered a certain Pre-Paid Forward Gold Purchase Agreement (the “PPF Agreement”)
to obtain financing from the Beneficiary. The terms and conditions of the aforesaid Pre-Paid Forward Gold Purchase Agreement
and all supplements, amendments, and modifications thereto and all extensions, restatements and renewals thereof, are incorporated
in this Deed of Trust by this reference; and

 

WHEREAS, the Trustor, in order to secure
payment and performance of Trustor’s obligations under the PPF Agreement, has duly authorized the execution and delivery
of this Deed of Trust; and.

 

WHEREAS, the PPF Agreement, this Deed of
Trust and any other agreements entered into in connection with the foregoing are referred to herein as the “Facility Documents”.

 

AGREEMENT

 

FOR GOOD AND VALUABLE CONSIDERATION, including
the indebtedness herein recited and the trust herein created, the receipt of which is hereby acknowledged, Trustor hereby irrevocably
and unconditionally mortgages, grants, warrants, bargains, sells, transfers, conveys and assigns to Trustee, IN TRUST, WITH POWER
OF SALE AND RIGHT OF ENTRY AND POSSESSION, subject only to liens that are in existence as of the date hereof and have been disclosed
in writing to Beneficiary (the “Permitted Encumbrances”), for the benefit and security of Beneficiary, under
and subject to the terms and conditions hereinafter set forth, all of Trustor’s present and future right, title, interest
and claims of Trustor in and to all of the following described property whether now owned or hereafter acquired (all of Trustor’s
present and future right, title, interest and claims in the property described in the following clauses (a) through (1) severally
and collectively, the “Trust Estate”):

 

(a) All
right title and interest of the Trustor in those certain patented and unpatented mining claims, minerals, and all proceeds,
royalties and income from all minerals or soil components (whether in-ground or extracted therefrom) mineral rights, mining
rights, all rights and claims to minerals (whether in-ground or extracted) (collectively, the “Mining Claims”) located
in Tooele County, Utah, more particularly described on Exhibit A attached hereto and incorporated herein by this
reference, together with all rights appurtenant thereto, including the easements and rights of way over certain other
adjoining land granted by any easement agreements, covenant or restrictive agreements and all air rights, minerals, mineral
rights and interests, resources, reserves, land positions, stockpiled ore and minerals, overburden piles, byproducts, oil and
gas rights, geothermal rights and resources, timber and development rights, if any, relating thereto, and also together with
all of the other easements, rights, privileges, interests, hereditaments and appurtenances thereunto belonging or in any way
appertaining and all of the estate, right, title, interest, claim or demand whatsoever of Trustor therein, either in law or
in equity, in possession or expectancy, now or hereafter acquired and including, without limitation, all of Trustor’s
rights and interest in and to streets, roads, ways, railways and public places, opened or postponed, and all rights of way,
public or private, now or hereafter used in connection with, or belonging or appertaining to or being adjacent to Mining
Claims (the “Mining Property”);

 

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(b) Trustor’s
interest in and to the leasehold interest created under (i) the Ground Lease; and (ii) and all recorded or unrecorded extensions,
amendments, supplements restatements, renewals and assignments thereof, together with all rights, titles, and interests of Trustor
under the Ground Lease in and to any and all easement agreements, covenant or restrictive agreements and all air rights, mineral
rights, resources, reserves, land positions, water rights, gas rights and development rights, if any, relating thereto, and also
together with all of the other easements, rights, privileges, interests, hereditaments and appurtenances thereunto belonging or
in any way appertaining and in any way demised or granted under the Ground Lease or belonging, relating or appertaining to the
land and interests demised or granted under the Ground Lease, or which hereafter shall be in any way demised or granted under
the Ground Lease or belong, relate or be appurtenant to the Mining Property (collectively, the “Leased Premises”;
together with the Mining Property, the “Real Property”);

 

(c) Any
and all buildings and other improvements now or hereafter erected on the Real Property or other property demised by the Ground
Lease including, without limitation, fixtures, attachments, appliances, mills, equipment, machinery, and other personal property
attached to such buildings and other improvements (the “Improvements”), all of which shall be deemed and construed
to be a part of the Real Property;

 

(d) All
rents, issues, profits, claims, royalties, income and other benefits now or hereafter derived from the Real Property and the Improvements
(collectively the “Rents”) (it being understood that Rents exclude amounts payable under the Ground Lease),
subject to the terms and provisions of Article 2 of this Deed of Trust with respect to all leases and subleases of the Real
Property or Improvements now or hereafter existing or entered into, or portions thereof, granted by Trustor, and further subject
to the right, power and authority hereinafter given to Trustor to collect and apply such Rents;

 

(e) All
easements, rights-of-way and other rights now owned or hereafter acquired by Trustor used in connection with the Real
Property or the Improvements or as a means of access thereto (including, without limitation, all rights pursuant to any
trackage agreement and all rights to the nonexclusive use of common drive entries, and all tenements, hereditaments and
appurtenances thereof and thereto) and all water and water rights and shares of stock evidencing the same;

 

(0 All
grazing and range rights relating or pertaining to the Real Property; all oil, gas, minerals (including, but not limited to,
all gold, silver, copper and other precious and base metals) and their intermediate products such as mineral bearing products
such as mineral bearing ores and concentrates, coal, and other substances of any kind or character underlying the Real
Property; all water, water rights, irrigation and drainage rights (whether riparian, appropriative or otherwise and whether
or not appurtenant) and all electrical users rights, in or hereafter relating to or used in connection with the Real
Property; all shares of stock evidencing any such rights; all fixtures and equipment (whether or not annexed thereto) now or
hereafter used for the production or distribution of water or electricity in connection with the use or occupancy of the Real
Property or for the drainage or supply thereof; and all appendages, appurtenances, covenants, easements, hereditaments,
liberties, privileges, rights of way, tenements, and other rights benefiting, or otherwise relating to the Real Property
and/or the Improvements or any owner, occupier, or user thereof;

 

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All now or hereafter existing leases or
licenses (under which Trustor is landlord) and subleases (under which Trustor is sublandlord), concession, management, mineral
or other agreements of a similar kind that permit the use or occupancy of all or any portion of the Real Property for any purpose
in return for any payment, or the extraction or taking of any gas, water, geothermal resources, or minerals, or other minerals
from the Real Property in return for payment of any fee, rent or royalty, including Trustor’s right, title and interest as
lessor in the same (collectively, “Subleases”);

 

(h) All
right, title, and interest of Trustor in (i) the property and interests in property described on Exhibit B attached hereto
and incorporated herein by reference, (ii) all other personal property now or hereafter owned or acquired by Trustor that
is now or hereafter located on or used in connection with the Real Property or the Improvements, (iii) all other rights and interests
of Trustor now or hereafter held in personal property that is now or hereafter located on or used in connection with the Real Property
or the Improvements, and (iv) all proceeds thereof (such personal property and proceeds are referred to herein collectively as
the “Personal Property”);

 

(i) All
rights of Trustor under any covenants, conditions, and restrictions affecting the Real Property or the Improvements whether
now existing or hereafter arising, including, without limitation, all voting rights, declarant’s rights, developer rights,
and similar rights arising under any such covenants, conditions, and restrictions (collectively, the “CC&Rs”),
provided, Trustor shall retain the right to exercise its privileges under the CC&Rs (subject in all respects to the terms
of the PPF Agreement) prior to any default or event of default under the PPF Agreement;

 

All rights (but none of the obligations) of Trustor under any
agreements, licenses or other documents affecting the Real Property or the improvements, (collectively, the “Other Agreements”),
provided, Trustor shall retain the right to exercise its privileges under the Other Agreements (subject in all respects to the
terms of the PPF Agreement) prior to any default or event of default under the PPF Agreement;

 

(k) All
the estate, interest, right, title, other claim or demand, both in law and in equity (including, without limitation, claims or
demands with respect to the proceeds of insurance in effect with respect thereto) that Trustor now has or may hereafter acquire
in the Real Property, the Improvements, the Personal Property, or any other part of the Trust Estate, and any and all awards
made for the taking by eminent domain, or by any proceeding of purchase in lieu thereof, of the whole or any part of the Trust
Estate (including, without limitation, any awards resulting from a change of grade of streets and awards for severance damages);
and

 

(1) All
proceeds, products and minerals, whether in-ground or extracted, of any of the foregoing.

 

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Notwithstanding the foregoing, the Trust
Estate shall not include any of the Other Agreements or other permit or license to the extent that the Trustor is expressly prohibited
from granting a security interest in such instrument pursuant to the terms thereof, but only to the extent such prohibition is
not invalidated under the Utah Uniform Commercial Code. The foregoing descriptions of items constituting the Trust Estate shall
be construed as cumulative and not limiting, and the terms “include” and “including”, when used in those
descriptions, shall mean without limitation by reason of enumeration. Unless the context clearly indicates otherwise, the terms
“as-extracted collateral”, fixtures”, “equipment,” “inventory,” “accounts,”
“instruments,” “promissory notes,” “investment property,” “commercial tort claims,”
“deposit accounts,” “letter-of-credit rights,” “supporting obligations,” “chattel paper,”
“general intangibles,” “proceeds” and “products” shall have the meanings provided for those
terms in the Utah Uniform Commercial Code in effect on the date of this Deed of Trust.

 

TO HAVE AND TO HOLD the Trust Estate, together
with all and singular the rights, privileges, contracts, and appurtenances now or hereafter at any time before the foreclosure,
sale by power of sale, or release hereof in anywise appertaining or belonging thereto unto Trustee and Trustee’s successors
or substitutes hereunder and to their successors and assigns, forever, FOR THE PURPOSE OF SECURING the payment and performance
by the Obligors of all indebtedness, obligations and liabilities, direct or indirect, absolute or contingent, matured or not, of
the Obligors to the Beneficiary under the PPF Agreement and the other Facility Documents, wheresoever and howsoever incurred, and
whether incurred prior to, at the time of, or subsequent to the execution hereof, whether incurred alone or with another or others,
including extensions and renewals, and including, without limitation, all indebtedness, obligations and liabilities of the Obligors
to the Beneficiary hereunder or under any present or future guarantee by the Obligors of the payment or performance or both of
the debts, obligations or liabilities of any third party to the Beneficiary (together, the “Secured Obligations”),
which shall include interest accruing subsequent to the filing of, or which would have accrued but for the filing of, a petition
for bankruptcy, in accordance with and at the rate (including any rate applicable upon any default or event of default under the
PPF Agreement, to the extent lawful), whether or not such interest is an allowable claim in such bankruptcy proceeding.

 

The parties acknowledge and agree that for purposes of Utah
Code 57-1-25 and Utah Code 78B-6-901.5 the stated purpose of the Secured Obligations for which this Deed of Trust is given is NOT
to finance residential rental property.

 

TRUSTOR HEREBY COVENANTS AND FURTHER AGREES
AS FOLLOWS:

 

ARTICLE 1

COVENANTS AND AGREEMENTS OF TRUSTOR

 

1.01 Payment and Performance of Obligations.
Trustor shall pay when due and/or perform each of the Secured Obligations.

 

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1.02 Maintenance, Repair,
Alterations. Trustor shall keep, maintain, preserve and protect the Trust Estate in good repair, working order, and
condition, ordinary wear and tear excepted. Trustor shall: (a) complete any Improvement (i) related to the mining business of
Trustor that may now be constructed, or (ii) hereafter constructed on the Real Property; and (b) restore any Improvements
related to the mining business of Trustor that may be damaged or destroyed and pay when due all claims for labor performed
and materials furnished therefor, in either case excepting any Improvements that the Trustor does not reasonably consider to
be material to the mining business of the Trustor. Trustor shall comply in all material respects with all Requirements (as
defined below) and shall not suffer to occur or exist any violation in any material respect of any Requirement. Trustor shall
not commit or permit any waste or deterioration of the Trust Estate, and, to the extent required by law and the PPF
Agreement, shall keep and maintain abutting grounds, roads, parking, etc. in good and neat order and repair. Trustor shall
perform in all material respects its obligations under the Ground Lease, each Sublease, the CC&Rs, and the other Facility
Documents. “Requirement” and “Requirements” mean, respectively, each and all obligations and
requirements now or hereafter in effect by which Trustor or the Trust Estate are bound or which are otherwise applicable to
the Trust Estate, any work or activity necessary to preserve and maintain the Trust Estate, preserve or maintain mining or
other rights in the Trust Estate, any construction of any Improvements on the Trust Estate, or operation, occupancy or use of
the Trust Estate (including, without limitation (i) such obligations and requirements imposed by common law or any law,
statute, ordinance, regulation, or rule (federal, state, or local), including, without limitation, any mining reports,
filings, verifications of mining activity, etc. and (ii) such obligations and requirements of, in, or in respect of (A) any
consent, authorization, license, permit, or approval relating to the Trust Estate, (B) any condition, covenant,
restriction, easement, or right-of-way reservation applicable to the Trust Estate, (C) any Lien (as defined in the PPF
Agreement) or encumbrance, (D) any other agreement, document, or instrument to which Trustor is a party or by which Trustor
or the Trust Estate is bound or affected (including, without limitation, the CC&Rs and the Other Agreements), and (E) any
order, writ, judgment, injunction, or award of any arbitrator, other private adjudicator, court, government, or governmental
authority (federal, state, or local) to which Trustor is a party or by which Trustor or the Trust Estate is bound or
affected).

 

1.03 Required Insurance. Trustor
shall at all times provide, maintain and keep in force or cause to be provided, maintained and kept in force with respect to the
Trust Estate, at no expense to Trustee or Beneficiary, policies of insurance as required by the PPF Agreement.

 

1.04 Payment of Premiums. In the event Trustor fails
to obtain, maintain, or deliver to Beneficiary the policies of insurance with respect to the Trust Estate, Beneficiary may but
without any obligation to do so, pursue its rights and remedies set forth in the Facility Documents.

 

1.05 Casualties; Insurance Proceeds.
After the happening of any material casualty to or in connection with the Trust Estate or any part thereof, whether or not covered
by insurance, Trustor shall give prompt written notice thereof to Beneficiary. All proceeds of insurance shall be payable to Beneficiary.
If Trustor receives any proceeds of insurance resulting from such casualty, Trustor shall promptly pay over such proceeds to Beneficiary.

 

1.06 Assignment
of Policies Upon Foreclosure. In the event of foreclosure of this Deed of Trust as a mortgage, a sale under the power of sale,
or any other transfer of title or assignment of the Trust Estate in extinguishment, in whole or in part, of the Secured Obligations,
all right, title and interest of Trustor in and to all policies of insurance required by Section 1.03 shall inure to the
benefit of and pass to the successor in interest to Trustor or the purchaser or grantee of the Trust Estate, to the extent such
policies are assignable pursuant to the terms thereof.

 

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1.07 Waiver of Offset. Except for
such notice as may be expressly required hereunder or under the PPF Agreement, all sums payable by Trustor pursuant to the PPF
Agreement or this Deed of Trust shall be paid without notice, demand, counterclaim, setoff, deduction or defense and without abatement,
suspension, deferment, diminution or reduction, and the obligations and liabilities of Trustor hereunder shall in no way be released,
discharged or otherwise affected (except as expressly provided herein) by reason of (i) any damage to or destruction of or any
condemnation or similar taking of the Trust Estate or any part thereof; (ii) any restriction or prevention of or interference by
any Person (as defined below) with any use of the Trust Estate or any part thereof; (iii) any title defect or encumbrance or any
eviction from the Real Property or the Improvements or any part thereof by title paramount or otherwise; (iv) any bankruptcy, insolvency,
reorganization, composition, adjustment, dissolution, liquidation or other like proceeding relating to Beneficiary, or any action
taken with respect to this Deed of Trust by any trustee or receiver of Beneficiary, or by any court, in any such proceeding; or
(v) any other occurrence whatsoever, whether similar or dissimilar to the foregoing; whether or not Trustor shall have notice or
knowledge of any of the foregoing.

 

1.08 Impositions.

 

(a) Trustor
shall pay, or cause to be paid, prior to the date due, and in any event prior to delinquency, all real and personal property taxes
and assessments, general and special, and all other taxes and assessments of any kind or nature whatsoever (including, without
limitation, nongovernmental levies or assessments such as property owners’ association assessments, fee and dues, maintenance
charges, water charges, water toll charges, irrigation fees and assessments, levies, or charges resulting from covenants, conditions
and restrictions affecting the Trust Estate, which if unpaid or not performed may result in forfeiture of the same), that are
assessed or imposed upon the Trust Estate or become due and payable and that create or may create if not paid a lien upon the
Trust Estate (the above are sometimes referred to herein individually as an “Imposition” and collectively as
“Impositions”), provided, however, that if by law any Imposition is payable, or may at the option of the taxpayer
be paid, in installments, Trustor may pay the same or cause it to be paid, together with any accrued interest on the unpaid balance
of such Imposition, in installments as the same becomes due and before any fine, penalty, interest, or cost may be added thereto
for the nonpayment of any such installment and interest.

 

(b) If at
any time after the date hereof there shall be assessed or imposed a fee, tax, or assessment on Beneficiary (other than income
taxes) and measured by or based in whole or in part upon this Deed of Trust or the outstanding amount of the Secured Obligations,
then all such taxes, assessments or fees shall be deemed to be included within the term “Impositions” as defined
in Section 1.08(a) and Trustor shall pay and discharge the same as herein provided with respect to the payment of Impositions.
If Trustor fails to pay any Impositions prior to delinquency, Beneficiary may, at its option, pursue any and all rights and remedies
hereunder or under the Facility Documents as for a default or event of default, and such remedies may be pursued individually,
singly or concurrently.

 

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(c)
Trustor shall have the right before any delinquency occurs to contest or object to the amount or validity of any Imposition
by appropriate proceedings, but this shall not be deemed or construed in any way as relieving, modifying, or extending
Trustor’s covenant to pay any such Imposition at the time and in the manner provided in this Section 1.08,
unless Trustor has given prior written notice to Beneficiary of Trustor’s intent to so contest or object to an
Imposition, and unless, in Beneficiary’s absolute and sole discretion, (i) Trustor shall demonstrate to
Beneficiary’s satisfaction that the proceedings to be initiated by Trustor shall conclusively operate to prevent the
sale of the Trust Estate or any part thereof or interest therein to satisfy such Imposition prior to final determination of
such proceedings, (ii) Trustor shall furnish a good and sufficient bond or surety as requested by and satisfactory to
Beneficiary, or (iii) Trustor shall demonstrate to Beneficiary’s satisfaction that Trustor has provided a good and
sufficient undertaking as may be required or permitted by law to accomplish a stay of any such sale.

 

1.09 Utilities. Trustor shall pay
when due all charges that are incurred by Trustor for the benefit of the Trust Estate or that may become a charge or lien against
the Trust Estate for gas, electricity, water, sewer, or other services furnished to the Trust Estate to the extent required by
the PPF Agreement.

 

1.10 Actions Affecting Trust Estate.
Trustor shall appear in and contest any action or proceeding purporting to affect the security hereof or the rights or powers of
Beneficiary or Trustee hereunder and shall pay all reasonable costs and expenses (including, without limitation, costs of evidence
of title, litigation, and attorneys’ fees) in any such action or proceeding in which Beneficiary or Trustee may appear.

 

1.11 Appointment of Successor Trustee.
Beneficiary may, from time to time, by a written instrument executed and acknowledged by Beneficiary, mailed to Trustor and recorded
in the county in which the Trust Estate is located and by otherwise complying with the provisions of applicable law, substitute
a successor or successors to any Trustee named herein or acting hereunder, and such successor(s) shall, without conveyance from
the Trustee predecessor, succeed to all title, estate, rights, powers and duties of such predecessor.

 

1.12 Trustee’s Powers. At
any time, or from time to time, without liability therefor and without notice, upon written request of Beneficiary and without
affecting the personal liability of any person for payment of the Secured Obligations or the effect of this Deed of Trust upon
the remainder of said Trust Estate, Trustee may, subject to the terms and conditions of the Ground Lease: (a) reconvey any part
of said Trust Estate, (b) consent in writing to the making of any map or plat thereof, (c) join in granting any easement thereon,
or (d) join in any extension agreement or any agreement subordinating the lien or charge hereof.

 

1.13 Beneficiary’s
Powers. Without affecting the liability of any Person liable for the payment of the Secured Obligations herein mentioned,
and without affecting the lien or charge of this Deed of Trust upon any portion of the Trust Estate not then or theretofore released
as security for the Secured Obligations, Beneficiary may, from time to time and without notice: (a) release any person so liable,
(b) extend the Secured Obligations, (c) release or reconvey, or cause to be released or reconveyed, at any time at Beneficiary’s
option any parcel, portion or all of the Trust Estate, (d) take or release any other or additional security or any guaranty for
any Secured Obligations herein mentioned, or (e) make compositions or other arrangements with debtors in relation thereto.

 

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ARTICLE 2

ASSIGNMENT OF RENTS

 

2.01 Assignment of Rents. Trustor
hereby irrevocably, absolutely, presently and unconditionally assigns, transfers and grants to Beneficiary (i) all the Rents, and
hereby gives to and confers upon Beneficiary the right, power and authority to collect the Rents, at any time, with or without
notice, and (ii) all of Trustor’s estate, right, title, interest, claim and demand, as landlord, under any and all of the
Subleases. The assignment of the Rents and Subleases in this Article 2 is intended to be an absolute assignment from Trustor
to Beneficiary and not merely the passing of a security interest. Trustor irrevocably appoints Beneficiary, effective upon and
during the continuation of an event of default, its true and lawful attorneys-in-fact, at the option of Beneficiary at any time
and from time to time, to demand, receive and enforce payment, to give receipts, releases and satisfactions, and to sue, in the
name of Trustor or Beneficiary, for all Rents and apply the same to the payment of the Secured Obligations in such order as Beneficiary
shall determine. Trustor hereby authorizes and directs the lessees, occupants and tenants under Subleases to make all payments
under the Subleases directly to Beneficiary upon written demand by Beneficiary (which may be made at any time on and after an event
of default), without further consent of Trustor; provided, however, that Trustor shall have the right to collect such Rents (but
not more than one (1) month in advance unless the written approval of Beneficiary is first obtained), and to retain and enjoy same,
as set forth in Section 2.02. The provisions of Utah Code 57-26-1 et seq. are hereby incorporated by reference.

 

2.02 License to Collect Rents. Beneficiary hereby confers
upon Trustor a revocable license (“License”) to collect and retain the Rents as they become due and payable,
so long as no revocation of the License by Beneficiary has occurred and/or no event of default shall exist and be continuing. If
an event of default has occurred and is continuing, Beneficiary shall have the right, which it may choose to exercise in its sole
discretion, to terminate this License with or without notice to or demand upon Trustor, and without regard to the adequacy of Beneficiary’s
security under this Deed of Trust.

 

2.03 Collection
Upon an event of default. Upon an occurrence of an event of default and/or Beneficiary’s revocation of the License,
Beneficiary may, at any time with or without notice, either in person, by agent or by a receiver appointed by a court, and without
regard to the adequacy of any security for the Secured Obligations, enter upon and take possession of the Trust Estate, or any
part thereof, and, with or without such entry or taking possession, in its own name sue for or otherwise collect the Rents (including,
without limitation, those past due and unpaid) and apply the same, less costs and expenses of operation and collection (including,
without limitation, reasonable attorneys’ fees) upon payment of the Secured Obligations in such order as Beneficiary may
determine. The collection of such Rents, or the entering upon and taking possession of the Trust Estate, or the application of
the Rents as aforesaid, shall not cure or waive any default or notice of default hereunder or invalidate any act done in response
to such default or pursuant to such notice of default. Trustor also hereby authorizes Beneficiary upon such entry, at its option,
to take over and assume the management, operation and maintenance of the Trust Estate and to perform all acts Beneficiary in its
sole discretion deems necessary and proper and to expend such sums out of Rents as may be needed in connection therewith, in the
same manner and to the same extent as Trustor theretofore could do (including, without limitation, the right to enter into new
Subleases, to cancel, surrender, alter or amend the terms of, and/or renew existing Subleases and/or to make concessions to tenants).

 

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2.04 Application of Rents. Upon such entry, Beneficiary
shall, after payment of all property charges and expenses (including, without limitation, reasonable compensation to such managing
agent as it may select and employ) and after the accumulation of a reasonable reserve to meet requisite amounts, credit the net
amount of the Rents received by it to the Secured Obligations, but the manner of the application of such net income and which items
shall be credited shall be determined by the Beneficiary pursuant to the applicable provisions of the PPF Agreement, but in all
cases subject to applicable law. Beneficiary shall not be accountable for more monies than it actually receives from the Trust
Estate; nor shall it be liable for failure to collect Rents. Beneficiary shall make reasonable efforts to collect Rents, reserving,
however, within its own absolute and sole discretion, the right to determine the method of collection and the extent to which enforcement
of collection of Rents shall be prosecuted and Beneficiary’s judgment shall be deemed conclusive and reasonable.

 

2.05 Mortgagee in Possession. It
is not the intention of the parties hereto that an entry by Beneficiary upon the Real Property under the terms of this instrument
shall make Beneficiary a party in possession in contemplation of the law, except at the option of Beneficiary.

 

2.06 Indemnity. Trustor hereby agrees
to indemnify and hold harmless Beneficiary for, from and against any and all losses, liabilities, obligations, claims, demands,
damages, penalties, judgments, costs, and expenses, including legal fees and expenses, howsoever and by whomsoever asserted, arising
out of or in any way connected with this assignment; and all such losses, liabilities, obligations, claims, demands, damages, penalties,
judgments, costs and expenses shall be deemed added to the indebtedness secured hereby and shall be secured by any and all other
instruments securing said indebtedness.

 

2.07 No Obligation to Perform. Nothing contained herein
shall operate or be construed to obligate Beneficiary to perform any obligations of Trustor under any Sublease (including, without
limitation, any obligation arising out of any covenant of quiet enjoyment therein contained in the event the lessee under any such
Sublease shall have been joined as a party defendant in any action to foreclose and the estate of such lessee shall have been thereby
terminated) or under the Ground Lease. Prior to actual entry into and taking possession of the Real Property by Beneficiary, this
assignment shall not operate to place upon Beneficiary any responsibility for the operation, control, care, management or repair
of the Trust Estate or any portion thereof, and the execution of this assignment by Trustor shall constitute conclusive evidence
that all responsibility for the operation, control, care, management and repair of the Trust Estate is and shall be that of Trustor,
prior to such actual entry and taking of possession.

 

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ARTICLE 3

SECURITY AGREEMENT

 

3.01 Creation of Security Interest.
Trustor hereby grants to Beneficiary, as secured party, a continuing security interest in and to all the Personal Property.

 

3.02 Representations, Warranties and
Covenants of Trustor. Trustor hereby represents, warrants and covenants (which representations, warranties and covenants shall
survive the creation of any Secured Obligations or other extensions of credit under the PPF Agreement) as of the date of this Deed
of Trust and as of the date of each extension of credit, as follows and acknowledges and confirms that the Beneficiary is relying
upon such representations, warranties and covenants in entering into this Deed of Trust and in extending credit to the Trustor:

 

(a) The Personal Property
is not used or bought for personal, family, residential, or household purposes;

 

(b) The tangible portion
of the Personal Property will be kept on or at the Real Property or Improvements and Trustor will not, without the prior written
consent of Beneficiary (not to be unreasonably withheld, but subject to any rights of the Beneficiary to approve pursuant to the
PPF Agreement), remove the Personal Property or any portion thereof therefrom;

 

(c) Trustor
hereby authorizes Beneficiary (in Beneficiary’s sole discretion) to file one or more financing statements and continuations
and/or execute one or more fixture filings and continuations pursuant to the Utah Uniform Commercial Code as in effect from time
to time in the State of Utah, in form satisfactory to Beneficiary, and will pay the cost of recording and filing the same in all
public offices wherever recording or filing is deemed by Beneficiary to be necessary or desirable;

 

(d) Trustor
is duly qualified to conduct business in the State of Utah. Trustor does not do business under any trade name except as previously
disclosed in writing to Beneficiary. Trustor will immediately notify Beneficiary in writing of any change in its place of business
or the adoption or change of any organizational name, trade name or fictitious business name, and will upon request of Beneficiary,
authorize any additional financing statements or execute any other certificates necessary to reflect the adoption or change in
trade name or fictitious business name. Trustor will also promptly notify Beneficiary of any change of Trustor’s organizational
identification number;

 

(e) Trustor
currently has and shall continue to hold until this Deed of Trust is terminated and released in full, the leasehold estate in the
Leased Premises that comprises a portion of the Trust Estate free and clear of all liens and encumbrances, subject to Permitted
Encumbrances, and Trustor has full right, power and authority to convey and mortgage the same and to execute this Deed of Trust;

 

(f) Trustor’s exact legal
name and address are correctly set forth in the introductory paragraph of this Deed of Trust; and 

 

(g) Trustor’s
organizational identification number assigned by the jurisdiction of formation is correctly set forth on the first page of this
Deed of Trust.

 

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3.03 Use of Personal Property by Trustor.
Until the occurrence of an event of default hereunder or under any other Loan Document, Trustor may have possession of the Personal
Property and use it in any lawful manner not inconsistent with this Deed of Trust and not inconsistent with any policy of insurance
thereon.

 

3.04 Remedies.

 

(a) In
addition to the remedies provided in Section 4.02 hereof, upon the occurrence and during the continuance of an event of
default, Beneficiary may, at its option, and subject to applicable law, do any one or more of the following:

 

(i)
Either personally, or by means of a court appointed receiver, take possession of all or any of the Personal Property and
exclude therefrom Trustor and all others claiming under Trustor, and thereafter hold, store, use, operate, manage, maintain
and control, make repairs, replacements, alterations, additions and improvements to and exercise all rights and powers of
Trustor with respect to the Personal Property or any part thereof. In the event Beneficiary demands, or attempts to take,
possession of the Personal Property in the exercise of any rights under this Deed of Trust, Trustor agrees to promptly turn
over and deliver possession thereof to Beneficiary;

 

(ii)
Without notice to or demand upon Trustor, make such payments and do such acts as Beneficiary may deem necessary to protect
its security interest in the Personal Property (including, without limitation, paying, purchasing, contesting or compromising
any Lien or encumbrance, whether superior or inferior to such security interest) and in exercising any such powers or
authority to pay all expenses (including, without limitation, litigation costs and reasonable attorneys’ fees) incurred
in connection therewith;

 

(iii)
Require Trustor from time to time to assemble the Personal Property, or any portion thereof, at a place designated by
Beneficiary and reasonably convenient to both parties, and deliver promptly such Personal Property to Beneficiary, or an
agent or representative designated by Beneficiary. Beneficiary, and its agents and representatives, shall have the right to
enter upon any or all of Trustor’s premises and property to exercise Beneficiary’s rights hereunder;

 

(iv)
Realize upon the Personal Property or any part thereof as herein provided or in any manner permitted by law and exercise any
and all of the other rights and remedies conferred upon Beneficiary by this Deed of Trust, any other Facility Documents, or
by law, either concurrently or in such order as Beneficiary may determine;

 

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(v) Sell
or cause to be sold in such order as Beneficiary may determine, as a whole or in such parcels as Beneficiary may determine, the
Personal Property;

 

(vi)
Sell, lease, or otherwise dispose of the Personal Property at public sale, upon terms and in such manner as Beneficiary may
determine. Beneficiary may be a purchaser at any sale; and

 

(vii) Exercise
any other remedies of a secured party under the Utah Uniform Commercial Code or any other applicable law.

 

(b) Unless
the Personal Property is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized
market, Beneficiary shall give Trustor at least ten (10) days’, or such longer time as may be required by applicable law,
prior written notice of the time and place of any public sale of the Personal Property or other intended disposition thereof to
be made. Such notice may be mailed to Trustor at the address identified in Section 5.04. If Beneficiary fails to comply
with this Section 3.04 in any respect, its liability for such failure shall be limited to the liability (if any) imposed
on it as a matter of law under the Utah Uniform Commercial Code (or under the Uniform Commercial Code, enforced from time to time,
in any other state, or law of similar import in any other foreign jurisdiction, to the extent the same is the applicable law).

 

(c) The
proceeds of any sale under Section 3.04(a) shall be applied as set forth in the PPF Agreement to the extent not inconsistent
with Utah law.

 

(d) Beneficiary
shall have the right to enforce one or more remedies hereunder, successively or concurrently, and such action shall not operate
to estop or prevent Beneficiary from pursuing any further remedy that it may have. Any repossession or retaking or sale of the
Personal Property pursuant to the terms hereof shall not operate to release Trustor until full payment of any deficiency has been
made in cash.

 

(e) Beneficiary may
comply with any applicable state or federal law or regulatory requirements in connection with a disposition of the Personal Property
and such compliance will not be considered to affect adversely the commercial reasonableness of any sale of the Personal Property.

 

(f) Beneficiary
may sell the Personal Property without giving any warranties as to such property, and may specifically disclaim any warranties
of title, merchantability, fitness for a particular purpose or the like, and this procedure will not be considered to adversely
affect the commercial reasonableness of any sale of the Personal Property. Trustor acknowledges that a private sale of the Personal
Property may result in less proceeds than a public sale.

 

(g) Trustor
acknowledges that the Personal Property may be sold at a loss to Trustor and that, in such event, Beneficiary shall have no liability
or responsibility to Trustor for such loss.

 

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Beneficiary shall have the right to enforce
one or more remedies hereunder, successively or concurrently, and such action shall not operate to estop or prevent Beneficiary
from pursuing any further remedy that it may have. Any repossession or retaking or sale of the Personal Property pursuant to the
terms hereof shall not operate to release Trustor until full payment of any deficiency has been made in cash.

 

3.05 Security Agreement. This Deed
of Trust constitutes and shall be deemed to be a “security agreement” for all purposes of the Utah Uniform Commercial
Code and Beneficiary shall be entitled to all the rights and remedies of a “secured party” under such Utah Uniform
Commercial Code. As a security agreement this Deed of Trust covers all assets of the Trustor, whether now owned or hereafter acquired
or arising and wherever located.

 

3.06 Fixture Filing; As-Extracted Collateral.
Upon its recording in the real property records, this Deed of Trust shall be effective as a financing statement filed as a fixture
filing and against as-extracted collateral under Section 9-502 of the Utah Uniform Commercial Code. In addition, a carbon, photographic
or other reproduced copy of this Deed of Trust and/or any financing statement relating hereto shall be sufficient for filing and/or
recording as a financing statement. The filing of any other financing statement relating to any personal property, rights or interests
described herein shall not be construed to diminish any right or priority hereunder.

 

3.07 Authorization to File Financing Statements; Power of
Attorney. Trustor hereby authorizes Beneficiary at any time and from time to time to file any initial financing statements,
amendments thereto, and continuation statements with respect to the Trust Estate with or without signature of Trustor as authorized
by applicable law. For purposes of such filing, Trustor agrees to furnish any information reasonably requested by Beneficiary promptly
upon request by Beneficiary. Trustor also ratifies its authorization for Beneficiary to have filed any like initial financing statements,
amendments thereto, or continuation statements if filed prior to the date of this Deed of Trust. Trustor hereby irrevocably constitutes
and appoints Beneficiary and any officer or agent of Beneficiary, with full power of substitution, as its true and lawful attorneys-in-fact
with full irrevocable power and authority in the place and stead of Trustor or in Trustor’s own name to execute in Trustor’s
name any such documents and to otherwise carry out the purposes of this Section 3.07, to the extent that Trustor’s
authorization above is not sufficient. To the extent permitted by law, Trustor hereby ratifies and affirms all acts said attorneys-in-fact
shall lawfully do, have done in the past, or caused to be done in the future by virtue hereof. This power of attorney is a power
coupled with an interest and shall he irrevocable.

 

ARTICLE 4

REMEDIES UPON DEFAULT

 

4.01 Events of Default. In addition
to any events of default described in Section 13(1) of the PPF Agreement, which shall likewise be an event of default hereunder,
each of the following shall constitute an event of default:

 

(a) The occurrence
of any default or event of default arising under or in connection with this Deed of Trust.

 

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(b)
The occurrence of any default or event of default arising under or in connection with the PPF Agreement or any of the Secured
Obligations.

 

(c) At
any time after termination of the PPF Agreement, the occurrence of any default, event of default, early termination event or breach
arising under or in connection with any other Loan Document and the expiration of any cure period applicable thereto.

 

(d)
The commencement by Trustor or any other Obligor or by any other Person of proceedings for the dissolution, liquidation or
winding up of Trustor or any other Obligor or for the suspension of operations of Trustor or any other Obligor (other than
such proceedings commenced by another Person which are diligently defended and are discharged, vacated or stayed within
thirty days after commencement).

 

(e) If
Trustor or any other Obligor ceases or threatens to cease to carry on its business or is adjudged or declared bankrupt or insolvent
or admits its inability to pay its debts generally as they become due or fails to pay its debts generally as they become due or
makes an assignment for the benefit of creditors, petitions or applies to any tribunal for the appointment of a receiver or trustee
for it or for any part of its property (or such a receiver or trustee is appointed for it or any part of its property), or commences
(or any other Person commences) any proceedings relating to it under any bankruptcy, insolvency, reorganization, arrangement, readjustment
of debt, dissolution or liquidation law or statute of any jurisdiction whether now or hereafter in effect (other than such proceedings
commenced by another Person which arc diligently defended and are discharged, vacated or stayed within thirty days after commencement),
or by any act indicates its consent to, approval of, or acquiescence in, any such proceeding for it or for any part of its property,
or suffers the appointment of any receiver or trustee, sequestrator or other custodian.

 

4.02 Remedies Upon Event of Default.
Upon the occurrence of an event of default, Beneficiary may, at its option, declare all or any part of the Secured Obligations
immediately due and payable without any presentment, demand, protest or notice of any kind. In addition, upon the occurrence of
any event of default, Trustee and Beneficiary shall have the following rights and remedies set forth in Sections 4.02 through
4A0.

 

Notwithstanding
the foregoing, Trustee and Beneficiary shall have all powers, rights and remedies under applicable law whether or not
specifically or generally granted or described in this Deed of Trust. Nothing contained herein shall be construed to impair
or to restrict such powers, rights and remedies or to preclude any procedures or process otherwise available to trustees or
beneficiaries under deeds of trust in the State of Utah. Trustee and Beneficiary, and each of them, shall be entitled to
enforce the payment and performance of any indebtedness or obligations secured hereby and to exercise all rights and powers
under this Deed of Trust, the PPF Agreement or under any other Loan Document or other agreement or any laws now or hereafter
in force, notwithstanding the fact that some or all of the indebtedness and obligations secured hereby may now or hereafter
be otherwise secured, whether by mortgage, deed of trust, pledge, lien, assignment or otherwise. Neither the acceptance of
this Deed of Trust nor its enforcement, whether by court action or pursuant to the power of sale or other powers contained
herein, shall prejudice or in any manner affect Trustee’s or Beneficiary’s right to realize upon or enforce any
other rights or security now or hereafter held by Trustee or Beneficiary. Trustee and Beneficiary, and each of them, shall be
entitled to enforce this Deed of Trust and any other rights or security now or hereafter held by Beneficiary or Trustee in
such order and manner as they or either of them may in their absolute discretion determine. No remedy herein conferred upon
or reserved to Trustee or Beneficiary is intended to be exclusive of any other remedy contained herein or by law provided or
permitted, but each shall be cumulative and in addition to every other remedy given hereunder or now or hereafter existing at
law or in equity. Every power or remedy given by any of the Facility Documents, including the PPF Agreement and this Deed of
Trust, to Trustee or Beneficiary, or to which either of them may be otherwise entitled, may be exercised, concurrently or
independently, from time to time and as often as may be deemed expedient by Trustee or Beneficiary, and either of them may
pursue inconsistent remedies. By exercising or by failing to exercise any right, option or election hereunder, Beneficiary
shall not be deemed to have waived any provision hereof or to have released Trustor from any of the obligations
secured hereby unless such waiver or release is in writing and signed by Beneficiary.

 

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4.03 Entry; Appointment of Receiver.
Subject to the provisions of Utah Code 78B-21-101 — 78B-21-129, the rights and obligations of the parties as expressed therein
being incorporated herein by reference, Beneficiary in person or by agent or by court-appointed receiver may, at its option, without
any action on its part being required, without in any way waiving such event of default, with or without the appointment of a receiver,
or an application therefore:

 

(a)
Subject to the terms and conditions of the Ground Lease, take possession of the Trust Estate or any part thereof and conduct
tests of, manage or hire a manager to manage, lease, operate and sell or convey all or any part of the Trust Estate, on such
terms and for such period of time as Beneficiary or a court-appointed receiver may deem proper, with full power to make, from
time to time, all alterations, renovations, repairs or replacements thereto as may seem proper to Beneficiary;

 

(b) With or without
taking possession of the Trust Estate, collect and receive all Rents, notify tenants under the Subleases or any other parties in
possession of the Trust Estate to pay Rents directly to Beneficiary, its agent or a court-appointed receiver and apply such Rents
to the payment of:

 

(i) all
costs and expenses incident to taking and retaining possession of the Trust Estate (including the cost of any receivership), management
and operation of the Trust Estate, keeping the Trust Estate properly insured and all alterations, renovations, repairs and replacements
to the Trust Estate;

 

(ii) all
taxes, charges, claims, assessments, and any other liens which may be prior in lien or payment to this Deed of Trust or the PPF
Agreement, and premiums for insurance, with interest on all such items; and

 

(iii)
the indebtedness secured hereby together with all costs and attorneys’ fees, in such order or priority as to any of
such items as Beneficiary in its sole discretion may determine, any statute, law, custom or use to the contrary
notwithstanding;

 

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(c)
Exclude Trustor, its agents and servants, wholly from the Trust Estate;

 

(d)
Have joint access with Trustor to the books, papers and accounts of Trustor relating to the Trust Estate, at the expense of
Trustor;

 

(e)
Commence, appear in and/or defend any action or proceedings purporting to affect the interests, rights, powers and/or duties
of Beneficiary hereunder, whether brought by or against Trustor or Beneficiary; and

 

(f)
Pay, purchase, contest or compromise any claim, debt, lien, charge or encumbrance which in the judgment of Beneficiary may
affect or appear to affect the interest of Beneficiary or the rights, powers and/or duties of Beneficiary hereunder.

 

Trustee or Beneficiary, as a matter of
right with or without notice to Trustor or anyone claiming under it and without regard to the then value of the Real Property or
the interest of Trustor therein, shall have the right to apply to any court having jurisdiction to appoint a receiver or receivers
to take charge of the Real Property or any portion thereof. Any such receiver or receivers shall have all of the usual and customary
powers and duties of receivers in like or similar cases and all of the powers and duties of Beneficiary in case of entry as provided
hereinabove, including without limitation, the right to collect and receive Rents, and shall serve without posting a bond. All
such Rents paid to Trustee or Beneficiary or collected by such receiver shall be applied as provided for in Section 4.03(b)
above. Trustor for itself and any subsequent owner of the Trust Estate hereby waives any and all defenses to the application for
such receiver and hereby irrevocably consents to such appointment without notice of any application therefore.

 

The receipt by Beneficiary of any Rents pursuant to this Deed
of Trust after the institution of foreclosure or other proceedings under this Deed of Trust (other than payment constituting payment
in full of the outstanding Secured Obligations) shall not cure any such event of default or affect such proceedings or any sale
pursuant thereto. After deducting the expenses and amounts set forth above in this Section 4.03, as well as just and reasonable
compensation for all Beneficiary’s employees and other agents (including, without limitation, reasonable and actual attorneys’
fees and management and rental commissions) engaged and employed, the moneys remaining, at the option of Beneficiary, may be applied
to the indebtedness secured hereby. Whenever all amounts due on and performance under the PPF Agreement and under this Deed of
Trust shall have been paid and performed and all events of default have been cured and any such cure has been accepted by Beneficiary,
Beneficiary shall surrender possession to Trustor. The same right of entry, however, shall exist if any subsequent event of default
shall occur; provided, however, neither Trustee nor Beneficiary shall be under any obligation to make any of the payments or do
any of the acts referred to in this Section 4.03.

 

4.04 Judicial Action. Beneficiary
may bring an action in any court of competent jurisdiction to foreclose this instrument or to enforce any of the covenants and
agreements hereof. The Trust Estate may be foreclosed in parts or as an entirety.

 

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4.05 Power of Sale. Subject to
the provisions of Utah Code 57-1-23 — 57-1-34, the rights and obligations of the parties as expressed therein being incorporated
herein by reference Beneficiary may elect to cause the Trust Estate or any part thereof to be sold under the power of sale herein
granted in any manner permitted by applicable law. Should Beneficiary elect to sell the Trust Estate or any part thereof, which
is real property as provided above, Beneficiary or Trustee shall give such notice of default and election to sell as may then
be required by law. Thereafter, upon the expiration of such time and the giving of such notice of sale as may then be required
by law, and without the necessity of any demand on Trustor, Trustee, at the time and place specified in the notice of sale, shall
sell the Trust Estate or any part thereof, in one or multiple sales, at public auction to the highest bidder for cash in lawful
money of the United States payable at time of sale or sales. One or multiple sales of all or any portion of the Trust Estate are
hereby authorized and may be held in Beneficiary’s or Trustee’s sole discretion. One sale shall not extinguish or
terminate this Deed of Trust unless or until all of the Trust Estate has been sold and transferred, as determined by Beneficiary
and Trustee in their sole discretion. Trustee may, and upon request of Beneficiary shall, from time to time, postpone any sale
hereunder in the manner required by law. If the Trust Estate, including the Real Property, consists of several lots, parcels or
items of property, Beneficiary and/or Trustee may hold one or multiple sales of all or any portion of the Trust Estate. In any
of such sale(s), Beneficiary and/or Trustee may designate the order in which such lots, parcels or items shall be offered for
sale or sold. Any person, including Trustor, Trustee or Beneficiary, may purchase at any sale hereunder, and Beneficiary shall
have the right to purchase at any sale hereunder by crediting upon the bid price the amount of all or any part of the indebtedness
hereby secured plus interest, late charges, prepayment fees, and reasonable attorneys’ fees and trustees’ fees, as
herein provided. Should Beneficiary desire that more than one sale or other disposition of the Trust Estate, including the Real
Property, be conducted, Beneficiary may, at its option, cause the same to be conducted simultaneously, or successively, on the
same day, or at such different times and in such order as Beneficiary may deem to be in its best interests, and no such sale shall
terminate or otherwise affect the lien of this Deed of Trust on any part of the Trust Estate not sold until all indebtedness secured
hereby has been fully paid. In the event of default of any purchaser, Trustee shall have the right to resell the Trust Estate
as set forth above. Upon any sale hereunder, Trustee shall execute and deliver to the purchaser or purchasers a deed or deeds
conveying the property so sold, but without any covenant or warranty whatever, express or implied, whereupon such purchaser or
purchasers shall be let into immediate possession; and the recitals of facts in any such deed or deeds such as default, the giving
of notice of default and notice of sale, and other facts affecting the regularity or validity of such sale or disposition, shall
be conclusive proof of the truth of such facts and any such deed or deeds shall be conclusive against all persons as to such facts
recited therein.

 

4.06 Rescission
of Notice of Default. Beneficiary, from time to time before Trustee’s sale, public sale or deed in lieu of foreclosure,
may rescind any such notice of breach or default and of election to cause the Trust Estate to be sold by executing and delivering
to Trustee a written notice of such rescission, which notice, when recorded, shall also constitute a cancellation of any prior
declaration of default and demand for sale or such documents as may be required by the laws of the state in which the Real Property
is located to effect such rescission. The exercise by Beneficiary of such right of rescission shall not constitute a waiver of
any breach or event of default then existing or subsequently occurring, or impair the right of Beneficiary to execute and deliver
to Trustee, as above provided, other declarations of default and demand for sale, and notices of breach or default, and of election
to cause the Trust Estate, including the Real Property, to be sold to satisfy the obligations hereof, nor otherwise affect any
provision, agreement, covenant or condition of the PPF Agreement and/or of this Deed of Trust or any of the rights, obligations
or remedies of the parties hereunder.

 

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4.07 Beneficiary’s Remedies Respecting
Trust Estate. Beneficiary may realize upon the Trust Estate, enforce and exercise all of Trustor’s rights, powers, privileges
and remedies in respect of the Trust Estate, dispose of or otherwise deal with the Trust Estate in such order as Beneficiary may
in its discretion determine, and exercise any and all other rights, powers, privileges and remedies afforded to a secured party
under the laws of the state in which the Real Property is located as well as all other rights and remedies available at law or
in equity.

 

4.08 Proceeds of Sales. The proceeds
of any sale(s) made under or by virtue of this Article 4, together with all other sums which then may be held by Trustee
or Beneficiary under this Deed of Trust, whether under the provisions of this Article 4 or otherwise, shall be applied,
subject to applicable law, as follows:

 

(a) To
the payment of the costs, fees and expenses of sale and of any judicial proceedings wherein the same may be made, including the
cost of evidence of title in connection with the sale, compensation to Trustee and Beneficiary, and to the payment of all expenses,
liabilities and advances made or incurred by Trustee under this Deed of Trust, together with interest on all advances made by Trustee
at the interest rate applicable under the PPF Agreement, but limited to any maximum rate permitted by law to be charged by Trustee;

 

(b) To
the payment of any and all sums expended by Beneficiary under the terms hereof, not then repaid, with accrued interest at the default
interest rate equal to the default interest rate provided for in the PPF Agreement, as determined by Beneficiary, and all other
Secured Obligations required to be paid by Trustor pursuant to any provisions of this Deed of Trust, or the PPF Agreement, or any
of the other Facility Documents, including, without limitation, all expenses, liabilities and advances made or incurred by Beneficiary
under this Deed of Trust or in connection with the enforcement thereof, together with interest thereon as herein provided;

 

(c) To
the payment of the entire amount of then due, owing or unpaid Secured Obligations, and any other obligation secured hereby,
with interest on the unpaid principal at the rate set forth therein from the date of advancement thereof until the same is
paid in full; and then

 

(d) The
remainder, if any, to the person or persons, including Trustor, legally entitled thereto.

 

4.09 Waiver of Marshaling, Rights of Redemption, Homestead
and Valuation.

 

(a) Trustor,
for itself and for all persons hereafter claiming through or under it or who may at any time hereafter become holders of liens
junior to the lien of this Deed of Trust, hereby expressly waives and releases all rights to direct the order in which any of
the Trust Estate shall be sold in the event of any sale or sales pursuant hereto and to have any of the Trust Estate and/or any
other property now or hereafter constituting security for any of the indebtedness secured hereby marshaled upon any foreclosure
of this Deed of Trust or of any other security for any of said indebtedness, subject to any statutory right of Trustor to direct
the order in which the Trust Estate shall be sold.

 

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(b) To
the fullest extent permitted by law, Trustor, for itself and all who may at any time claim through or under it, hereby expressly
waives, releases and renounces all rights of redemption from any foreclosure sale, all rights of homestead, exception, monitoring
reinstatements, forbearance, appraisement, valuation, stay and all rights under any other laws which may be enacted extending the
time for or otherwise affecting enforcement or collection of the PPF Agreement, the debt and obligations evidenced thereby, or
this Deed of Trust.

 

(c) To
the fullest extent permitted by law, Trustor, for itself and all who may at any time claim through or under it, hereby expressly
waives, releases and renounces all rights to assert any statutory or common law right of partition with respect to the Trust Estate
and agree not to assert any such right so long as this Deed of Trust is a lien on the Trust Estate.

 

4.10 Remedies Cumulative. No remedy
herein conferred upon or reserved to Trustee or Beneficiary is intended to be exclusive of any other remedy herein or by law provided,
but each shall be cumulative and shall be in addition to every other remedy given hereunder or now or hereafter existing at law
or in equity or by statute. No delay or omission of Trustee or Beneficiary to exercise any right or power accruing upon any event
of default shall impair any right or power or shall be construed to be a waiver of any event of default or any acquiescence therein.
Every power and remedy given by this Deed of Trust to Trustee or Beneficiary may be exercised separately, successively or concurrently
from time to time as often as may be deemed expedient by Trustee or Beneficiary. If there exists additional security for the performance
of the obligations secured hereby, Beneficiary, at its sole option, and without limiting or affecting any of its rights or remedies
hereunder, may exercise any of the rights and remedies to which it may be entitled hereunder either concurrently with whatever
rights and remedies it may have in connection with such other security or in such order as it may determine. Any application of
any amounts or any portion thereof held by Beneficiary at any time as additional security or otherwise, to any indebtedness secured
hereby shall not extend or postpone the due dates of any payments and performance due from Trustor to Beneficiary hereunder or
under the PPF Agreement, or under any other Facility Documents, or change the amounts of any such payments or otherwise be construed
to cure or waive any default or notice of default hereunder or invalidate any act done pursuant to any such default or notice.

 

4.11 Request for Notice. Trustor
hereby requests a copy of any notice of default and that any notice of sale hereunder be mailed to it as set forth in Section 5.04.

 

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ARTICLE 5

MISCELLANEOUS

 

5.01 Change, Discharge,
Termination, or Waiver. No provision of this Deed of Trust may be changed, discharged, terminated, or waived except in a writing
signed by the party against whom enforcement of the change, discharge, termination, or waiver is sought. No failure on the part
of Beneficiary to exercise and no delay by Beneficiary in exercising any right or remedy under the Facility Documents or under
the law shall operate as a waiver thereof.

 

5.02 Trustor Waiver of Rights. Without
limiting any other waivers set forth herein and in addition to such waivers, Trustor waives, to the extent permitted by law, (a)
the benefit of all laws now existing or that may hereafter be enacted providing for any appraisement before sale of any portion
of the Trust Estate, (b) all rights of redemption, valuation, appraisement, stay of execution, notice of election to mature or
declare due the Secured Obligations and marshaling in the event of foreclosure of the liens hereby created, and (c) all rights
and remedies that Trustor may have or be able to assert by reason of the laws of the State of Utah pertaining to the rights and
remedies of sureties.

 

5.03 Reconveyance by Trustee. Upon
satisfaction of all the Secured Obligations, Beneficiary shall request Trustee to reconvey the Trust Estate and shall surrender
this Deed of Trust and any other document evidencing the Secured Obligations to Trustee. Trustee shall reconvey the Trust Estate
without warranty to the person or persons legally entitled thereto. Such person or persons shall pay Trustee’s reasonable
costs incurred in so reconveying the Trust Estate. The grantee in any reconveyance may be described as “the person or persons
legally entitled thereto”.

 

5.04 Notices. All notices, requests,
demands or other communications pursuant hereunder shall be made at the addresses, in the manner and with the effect provided in
the PPF Agreement or at such other address as shall have been furnished in writing by any Person described above to the party required
to give notice hereunder. Trustor specifically requests that a copy of any notice of default and a copy of any notice of sale under
this Deed of Trust be mailed to Trustor at the address for Trustor specified above.

 

5.05 Acceptance by Trustee. Trustee
accepts this Trust when this Deed of Trust, duly executed and acknowledged, is made a public record as provided by law.

 

5.06 Captions and References. The headings at the beginning
of each section of this Deed of Trust are solely for convenience and are not part of this Deed of Trust. Unless otherwise indicated,
each reference in this Deed of Trust to a section or an exhibit is a reference to the respective section herein or exhibit hereto.

 

5.07 Invalidity of Certain Provisions.
If any provision of this Deed of Trust is unenforceable, the enforceability of the other provisions shall not be affected and they
shall remain in full force and effect. If the lien of this Deed of Trust is invalid or unenforceable as to any part of the Secured
Obligations, or if the lien is invalid or unenforceable as to any part of the Trust Estate, the unsecured or partially secured
portion of the Secured Obligations shall be completely paid prior to the payment of the remaining and secured or partially secured
portion of the Secured Obligations, and all payments made on the Secured Obligations, whether voluntary or under foreclosure or
other enforcement action or procedure, shall be considered to have been first paid on and applied to the full payment of that portion
of the Secured Obligations which are not secured or fully secured by the lien of this Deed of Trust.

 

    21

     

    

 

5.08 Subrogation. To the extent
that proceeds of the Secured Obligations are used to pay any outstanding lien, charge or prior encumbrance against the Trust Estate,
such proceeds have been or will be advanced by Beneficiary at Trustor’s request and Beneficiary shall be subrogated to any
and all rights and liens held by any owner or holder of such outstanding liens, charges and prior encumbrances, irrespective of
whether said liens, charges or encumbrances are released.

 

5.09 Attorneys’ Fees. If any
or all of the Secured Obligations are not paid or performed when due or if an event of default occurs, Trustor agrees to pay all
costs of enforcement and collection and preparation therefore (including, without limitation, reasonable attorneys’ fees)
whether or not any action or proceeding is brought (including, without limitation, all such costs incurred in connection with any
bankruptcy, receivership, or other court proceedings (whether at the trial or appellate level)), together with interest therein
from the date of demand at the rate described in the PPF Agreement.

 

5.10 Governing Law. This Deed of
Trust and the obligations secured hereby, including the Secured Obligations, and the agreements of any person or entity to pay
or perform the obligations secured hereby shall be governed by and construed according to the laws of the State of Utah, without
giving effect to conflict of law principles, except to the extent expressly provided otherwise in a Loan Document. Any procedures
provided herein for such remedies shall be modified and replaced with, where inconsistent with or required by, any procedures or
requirements of the laws of the state in which the Real Property is located.

 

5.11 Joint and Several Obligations.
If this Deed of Trust is signed by more than one party as Trustor, all obligations of Trustor herein shall be the joint and several
obligations of each party executing this Deed of Trust as Trustor.

 

5.12 Number and Gender. In this
Deed of Trust the singular shall include the plural and the masculine shall include the feminine and neuter gender and vice versa,
if the context so requires.

 

5.13 Counterparts.
This document may be executed and acknowledged in counterparts, all of which executed and acknowledged counterparts shall
together constitute a single document. Signature and acknowledgment pages may be detached from the counterparts and attached
to a single copy of this document to form physically one document, which may be recorded.

 

5.14 No
Merger of Lease. If both the lessor’s and lessee’s estate under any lease or any portion thereof which
constitutes a part of the Trust Estate shall at any time become vested in one owner, this Deed of Trust and the lien created
hereby shall not be destroyed or terminated by application of the doctrine of merger unless Beneficiary so elects as
evidenced by recording a written declaration executed by Beneficiary so stating, and, unless and until Beneficiary so elects,
Beneficiary shall continue to have and enjoy all of the rights and privileges of Beneficiary as to the separate estates. In
addition, upon the foreclosure of the lien created by this Deed of Trust on the Trust Estate pursuant to the provisions
hereof, any leases or subleases then existing and affecting all or any portion of the Trust Estate shall not be destroyed or
terminated by application of the law of merger or as a matter of law or as a result of such foreclosure unless Beneficiary or
any purchaser at such foreclosure sale shall so elect. No act by or on behalf of Beneficiary or any such purchaser shall
constitute a termination of any lease or sublease unless Beneficiary or such purchaser shall give written notice thereof to
such tenant or subtenant.

 

    22

     

    

 

5.15 INTEGRATION. THE WRITTEN PPF
AGREEMENT, THIS DEED OF TRUST AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED
BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN
THE PARTIES. PURSUANT TO UTAH CODE ANNOTATED SECTION 25 5 4, TRUSTOR IS NOTIFIED THAT THE PPF AGREEMENT, THIS DEED OF TRUST AND
THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF ANY ALLEGED
PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.

 

5.16 Binding Effect. This Deed of
Trust will be binding upon, and inure to the benefit of, Trustor, Trustee and Beneficiary and their respective successors and assigns.
Trustor may not delegate its obligations under this Deed of Trust.

 

5.17 Time of the Essence. Time is
of the essence with regard to the each provision of this Deed of Trust as to which time is a factor.

 

5.18 Survival. The representations,
warranties, and covenants of the Trustor under this Deed of Trust shall survive the execution and delivery of the Deed of Trust
and the extension of credit under the PPF Agreement.

 

5.19 Agreement Controls. This Deed
of Trust and the PPF Agreement are intended to supplement and complement each other and shall, where possible, be thus interpreted.
If, however, any provision of this Deed of Trust irreconcilably conflicts with a provision of the PPF Agreement, the terms of the
PPF Agreement shall govern and control.

 

5.20 Intended Agreement. This Deed
of Trust is the result of arms-length negotiations between parties of roughly equivalent bargaining power and expresses the complete,
actual and intended agreement of the parties. This Deed of Trust shall not be construed for or against either party as a result
of its participation, or the participation of its counsel, in the preparation and/or drafting of this Deed of Trust or any exhibit
thereto.

 

5.21 Trustee
Provisions. Trustee accepts this Trust when this Deed of Trust, duly executed and acknowledged is made a public record as
provided by law. The Trust created hereby is irrevocable by Trustor. Trustee, upon presentation to it of an affidavit signed
by or on behalf of Beneficiary, setting forth any facts showing a default by Trustor under any of the terms or conditions of
this Deed of Trust, is authorized to accept as true and conclusive all facts and statements in such affidavit and to act
hereunder in complete reliance thereon. Except as may be required by applicable law, Trustee shall be under no obligation to
notify any party hereof of any action or proceeding of any kind in which Trustor, Beneficiary and/or Trustee shall be a
party, unless brought by Trustee, or of any pending sale under any other deed of trust. The necessity of Trustee’s
making oath, filing inventory or giving bond as security for the execution of this Deed of Trust, as may now be or hereafter
required by the laws of the state in which the Real Property is located, is hereby expressly waived.

 

    23

     

    

 

5.22 Trustor agrees and acknowledges that
if the Trust Estate, or any portion thereof, is “Environmentally Impaired” within the meaning of Utah Code Ann. §78B-6-909
(or any successor or replacement statute), Beneficiary may elect to (i) waive the lien of this Deed of Trust against the Environmentally
Impaired Trust Estate or any portion thereof and instead exercise the remedies of an unsecured creditor including the right to
reduce its claims to judgment against Trustor; or (ii) exercise its remedies under this Deed of Trust including the right to obtain
a deficiency judgment.

 

ARTICLE 6

PROVISIONS RELATING TO LEASEHOLD RIGHTS

 

6.01 Representations,
Warranties and Covenants. Trustor represents and warrants to Beneficiary that (a) the Ground Lease is unmodified and in full
force and effect, (b) all rent and other charges therein have been paid to the extent they are payable to the date hereof, (c)
Trustor enjoys, subject to the terms and conditions of the Ground Lease, the quiet and peaceful possession of the property demised
or granted thereby, (d) Trustor is not in default under any of the terms thereof and there are no existing circumstances which,
with the passage of time or the giving of notice or both, would constitute an event of default thereunder, and (e) to Trustor’s
knowledge, the Lessor thereunder is not in default under any of the terms or provisions thereof on the part of the Lessor to be
observed or performed (but this statement is made for the benefit of and may only be relied upon by Beneficiary). Trustor shall
promptly pay, when due and payable, the rent and other charges payable pursuant to the Ground Lease, and will timely perform and
observe all of the other terms, covenants and conditions required to be performed and observed by Trustor as lessee or grantee
under the Ground Lease. Trustor shall notify Beneficiary in writing of any default by Trustor in the performance or observance
of any terms, covenants or conditions on the part of Trustor to be performed or observed under the Ground Lease within ten (10)
days after Trustor knows of such default. Trustor shall, promptly following the receipt thereof, deliver a copy of any notice
of default given to Trustor by the Lessor pursuant to the Ground Lease and promptly notify Beneficiary in writing of any default
by the Lessor in the performance or observance of any of the terms, covenants or conditions on the part of the Lessor to be performed
or observed thereunder. Unless required under the terms of the Ground Lease, except as set forth in the PPF Agreement, Trustor
shall not, without the prior written consent of Beneficiary (which may be granted or withheld in Beneficiary’s sole and
absolute discretion) (i) terminate or surrender the Ground Lease, (ii) fail to exercise any option to extend the term of the Ground
Lease, or (iii) enter into any modification of the Ground Lease that materially impairs the practical realization of the security
interests granted by this Deed of Trust, and any such attempted termination, modification or surrender without Beneficiary’s
written consent shall be void. Trustor shall, within thirty (30) days after written request from Beneficiary, use commercially
reasonable efforts to obtain from the Lessor and deliver to Beneficiary a certificate stating that the Ground Lease is in full
force and effect, is unmodified or, if the Ground Lease has been modified, the date of each modification (together with copies
of each such modification), that no notice of termination thereof has been served on Trustor, stating that to the Lessor’s
knowledge, no default or event which with notice or lapse of time (or both) would reasonably be expected to become a default is
existing under the Ground Lease, stating the date to which rent and other changes thereunder have been paid, and specifying the
nature of any defaults, if any, and containing such other statements and representations as may be reasonably requested by Beneficiary.

 

    24

     

    

 

6.02 No Merger; Acquisition; Power of
Attorney. So long as any of the Secured Obligations remain unpaid or unperformed, the title to and/or the leasehold estate
in the premises subject to the Ground Lease shall not merge but shall always be kept separate and distinct notwithstanding the
union of such estates in the Lessor or Trustor, on in a third party, by purchase or otherwise. If Trustor acquires the fee title
or any other estate, title or interest in the property demised by the Ground Lease, or any part thereof, the lien of this Deed
of Trust shall attach to, cover and be a lien upon such acquired estate, title or interest and the same shall thereupon be and
become a part of the Trust Estate with the same force and effect as if specifically encumbered herein. Trustor agrees to execute
all instruments and documents that Beneficiary may reasonably require to ratify, confirm and further evidence the lien of this
Deed of Trust on the acquired estate, title or interest. Furthermore, Trustor hereby appoints Beneficiary as its true and lawful
attorney-in-fact to execute and deliver, during the continuance of an event of default, all such instruments and documents in the
name and on behalf of Trustor and to exercise any rights under the Ground Lease that Trustor is entitled to exercise (but without
obligation on the part of the Beneficiary to do so). This power, being coupled with an interest, shall be irrevocable as long as
any portion of the Secured Obligations remains unpaid.

 

6.03 New Leases. If the Ground Lease
is terminated prior to the natural expiration of its term due to default by Trustor or any tenant or grantee thereunder, and if,
pursuant to the provisions of the Ground Lease, Beneficiary or its designee shall acquire from the Lessor a new lease or claim
of the premises subject to the Ground Lease, Trustor shall have no right, title or interest in or to such new lease, claim, the
leasehold estate or other created thereby, or renewal privileges therein contained.

 

6.04 No Assignment. Notwithstanding anything to the contrary
contained herein, this Deed of Trust shall not constitute an assignment of the Ground Lease within the meaning of any provision
thereof prohibiting its assignment and Beneficiary shall have no liability or obligation thereunder by reason of its acceptance
of this Deed of Trust. Beneficiary shall be liable for the obligations of the lessee arising out of the Ground Lease for only that
period of time for which Beneficiary is in possession of the Leased Premises or has acquired, by foreclosure or otherwise, and
is holding all of Trustor’s right, title and interest therein.

 

6.05 Treatment of Ground Lease in Bankruptcy.

 

(a) If
any lessor or grantor under the Ground Lease rejects or disaffirms, or seeks or purports to reject or disaffirm, the Ground
Lease pursuant to any Bankruptcy Law, then Trustor shall not exercise the 365(h) Election (as hereinafter defined) except as
otherwise provided in this paragraph. To the extent permitted by law, Trustor shall not suffer or permit the termination of
the Ground Lease by exercise of Trustor’s rights pursuant to Section 365(h) of the US Bankruptcy Code (the
“365(h) Election”) or otherwise without Beneficiary’s consent. Trustor acknowledges that because the Ground
Lease is a primary element of Beneficiary’s security for the Secured Obligations, it is not anticipated that
Beneficiary would consent to termination of the Ground Lease. If Trustor makes any 365(h) Election in violation of this Deed
of Trust, then such 365(h) Election shall be void and of no force or effect.

 

    25

     

    

 

(b)
Trustor hereby assigns to Beneficiary the 365(h) Election with respect to the Ground Lease until the Secured Obligations have
been satisfied in full. Trustor acknowledges and agrees that the foregoing assignment of the 365(h) Election and related
rights is one of the rights that Beneficiary may use at any time to protect and preserve Beneficiary’s other rights and
interests under this Deed of Trust. Trustor further acknowledges that exercise of the 365(h) Election in favor of terminating
the Ground Lease would constitute waste prohibited by this Deed of Trust.

 

(c)
Trustor acknowledges that if the 365(h) Election is exercised in favor of Trustor’s remaining in possession under the
Ground Lease, then Trustor’s resulting occupancy rights, as adjusted by the effect of Section 365 of the U.S.
Bankruptcy Code, shall then be part of the Trust Estate and shall be subject to the lien of this Deed of Trust.

 

6.06 Rejection of the Ground Lease by
Landlords. If the lessor or grantor under the Ground Lease rejects or disaffirms any the Ground Lease or purports or seeks
to disaffirm the Ground Lease pursuant to any Bankruptcy Law, then:

 

(a)
Trustor shall remain in possession of the Leased Premises demised under the Ground Lease so rejected or disaffirmed and shall
perform all acts necessary for Trustor to remain in such possession for the unexpired term of the Ground Lease, whether the
then existing terms and provisions of the Ground Lease require such acts or otherwise; and

 

(b)
All the terms and provisions of this Deed of Trust and the lien created by this Deed of Trust shall remain in full force and
effect and shall extend automatically to all of Trustor’s rights and remedies arising at any time under, or pursuant
to, Section 365(h) of the U.S. Bankruptcy Code, including all of Trustor’s rights to remain in possession of the Leased
Premises.

 

[SIGNATURE PAGE FOLLOWS]

 

    26

     

    

 

In Witness thereof, the owner and holder above named, and Brian
Higley, Esquire, as Successor Trustee, have caused this instrument to be executed, each in its respective interest this              day
of February, 2019.

 

	DESERT HAWK GOLD CORP., a Nevada corporation	 
	 	 
	/s/ Rick Havenstrite	 
	 	 
	Its President	 
	 	 
	/s/ Brian Higley	 
	Brian Higley, Esquire	 

 

     

     

    

 

EXHIBIT A 

 

LEGAL DESCRIPTION

 

I. PATENTED MINING
CLAIMS SITUATED IN TOOELE COUNTY, UTAH: 

 

The indicated portions of the following
10 patented mining claims located within Sections 18, 19 and 30, T8S, R17W and Sections 24 and 25, T8S, R18W, SLM, Tooele County,
Utah:

 

	Claim Name	 	Lot or Mineral
    Survey Number	 	Portion
	 	 	 	 	 
	Atlantis	 	Lot 44	 	Surface estate only
	 	 	 	 	 
	Columbia	 	Lot 43          I	 	Surface estate only
	 	 	 	 	 
	Elephant	 	Lot 65	 	Surface estate only, and only that part of the claim inside the black-dashed area on the map attached hereto as Exhibit C-1
	 	 	 	 	 
	Fleet Wing	 	Lot 42	 	Surface estate only
	 	 	 	 	 
	Iron	 	Lot 46	 	Surface estate only
	 	 	 	 	 
	Juniper	 	Lot 57	 	Surface estate only
	 	 	 	 	 
	Neptune	 	Lot 40	 	Surface estate only, and only that part of the claim inside the black-dashed area on the map attached hereto as Exhibit C-1
	 	 	 	 	 
	New Baltimore	 	MS 4389	 	All
	 	 	 	 	 
	Paymaster No. 2	 	Lot 55	 	Surface estate only
	 	 	 	 	 
	Sunshine	 	Lot 67	 	Surface estate only, and only that part of the claim inside the black-dashed area on the map attached hereto as Exhibit C-1

 

     

     

    

 

II. UNPATENTED
MINING CLAIMS SITUATED IN TOOELE COUNTY, UTAH: 

 

The indicated portions of the following
66 unpatented mining claims located within Sections 17, 18, 19, 20, 25 and 30 T8S, R17W, and Section 25, T8S, R18W, SLM, Tooele
County, Utah:

 

	Claim Name	 	BLM Serial No.	 	Portion
	Clifton #7	 	UMC317850	 	Surface estate only, and only that part of the claim inside the black-dashed area on the map attached hereto as Exhibit C-1
	Clifton #8	 	UMC317851	 	Surface estate only, and only that part of the claim inside the black-dashed area on the map attached hereto as Exhibit C-1
	Clifton #10	 	UMC317853	 	Surface estate only
	Clifton #11	 	UMC317854	 	Surface estate only
	Clifton #15	 	UMC317858	 	Surface estate only, and only that part of the claim inside the black-dashed area on the map attached hereto as Exhibit C-1
	Clifton #17	 	UMC317860	 	Surface estate only, and only that part of the claim inside the black-dashed area on the map attached hereto as Exhibit C-1
	Clifton #18	 	UMC317861	 	Surface estate only, and only that part of the claim inside the black-dashed area on the map attached hereto as Exhibit C-1
	IP 6	 	UMC317901	 	Surface estate only, and only that part of the claim inside the black-dashed area on the map attached hereto as Exhibit C-1
	1P 14	 	UMC369142	 	All
	IP 14A	 	UMC317911	 	Surface estate only
	IP 15	 	UMC3I7913	 	Surface estate only
	IP 18	 	UMC317915	 	All
	IP 19	 	UMC317916	 	Surface estate only
	IP 20	 	UMC317917	 	All
	IP 20A	 	UMC317918	 	All
	IP 21	 	UMC317919	 	Surface estate only
	IP 22	 	UMC317920	 	All
	IP 22A	 	UMC317921	 	All
	IP 23	 	UMC317922	 	All
	IP 24	 	UMC317923	 	All
	IP 25	 	UMC317924	 	All
	IP 26	 	UMC317925	 	All 	_,
	IP 27	 	UMC317926	 	All
	IP 29	 	UMC317928	 	All
	IP 30	 	UMC317929	 	All
	IP 31	 	UMC317930	 	All
	IP 32	 	UMC317931	 	All
	IP 33	 	UMC317932	 	All
	IP 34	 	UMC317933	 	All
	IP 35	 	UMC317934	 	All
	IP 50	 	UMC369143	 	All
	IP 51	 	UMC369144	 	All
	IP 53	 	UMC317948	 	Surface estate only

 

     

     

    

 

	Claim Name	 	BLM Serial No.	 	Portion
	IP 54	 	UMC317949	 	All
	Pearl 215	 	UMC369187	 	All
	Pearl 216	 	UMC369188	 	All
	Pearl 218	 	UMC369189	 	All
	Pearl 219	 	UMC369190	 	All
	Pearl 220	 	UMC369191	 	All       	1
	r Pearl
    222	 	UMC318009	 	All
	Pearl 222A	 	UMC318010	 	All
	Pearl 241	 	UMC369203	 	All
	Pearl 242	 	UMC369204	 	All
	Pearl 243	 	UMC369205	 	All
	Pearl 244	 	UMC369206	 	All
	Pearl 245	 	UMC369207	 	All
	Pearl 246	 	UMC369208	 	All
	Pearl 266	 	UMC371747	 	‘
    All
	Pearl 267	 	LTMC371748	 	All
	Pearl 268	 	UMC318033	 	All
	Pearl 269	 	UMC318034	 	All
	Pearl 270	 	UMC318035	 	All
	Pearl 275	 	UMC318036	 	All
	Pearl 276	 	UMC318037	 	All
	Pearl 292	 	UMC369217	 	All
	Pearl 293	 	UMC369218	 	All
	Pearl 294	 	UMC3 I 8048	 	All
	Pearl 295	 	UMC318049	 	All
	Pearl 296	 	UMC318050	 	All
	Pearl 322A	 	UMC369222	 	Surface estate only
	Pearl 325	 	UMC371749	 	Surface estate only
	Pearl 325A	 	UMC369225	 	All
	Pearl 354	 	UMC318076	 	Surface estate only
	Pearl 355	 	UMC318077	 	Surface estate only
	Pearl 356	 	UMC318078	 	Surface estate only
	Pearl 357	 	UMC318079	 	Surface estate only

 

     

     

    

 

EXHIBIT A-1

 

 

     

     

    

 

EXHIBIT B

 

DESCRIPTION OF PERSONAL PROPERTY

 

Capitalized terms used in this Exhibit
have the meanings assigned in the body of the Deed of Trust.

 

(a) All
personal property (including, without limitation, all goods, supplies, equipment, furniture, furnishings, fixtures, machinery,
inventory, and construction materials and software embedded in any of the foregoing) in which Trustor now or hereafter acquires
an interest or right, which is now or hereafter located on or affixed to the Real Property or the Improvements or used or useful
in the operation, use, or occupancy thereof or the construction of any Improvements thereon, together with any interest of Trustor
in and to personal property which is leased or subject to any superior security interest, and all books, records, leases and other
agreements, documents, and instruments of whatever kind or character, relating to the Real Property, Improvements, or such personal
property;

 

(b) All
fees, income, rents, issues, profits, earnings, receipts, royalties, and revenues which, after the date hereof and while any portion
of the Secured Obligations remains unpaid or unperformed, may accrue to Trustor from such personal property or any part thereof
or from the Real Property, the Improvements or any other part of the Trust Estate, or which may be received or receivable by Trustor
from any hiring, using, letting, leasing, subhiring, subletting, subleasing, occupancy, operation, or use thereof;

 

(c) All
of Trustor’s present and future rights to receive payments of money, services, or property, including, without limitation,
rights to all deposits from tenants of the Real Property or Improvements, rights to receive capital contributions or subscriptions
from Trustor’s partners or shareholders, amounts payable on account of the sale of the capital stock of Trustor, accounts
and other accounts receivable, deposit accounts maintained with Beneficiary and its affiliates, chattel paper (whether tangible
or electronic) notes, drafts, contract rights, instruments, general intangibles, all as defined in Section 9-101 et. seq. of the
Utah Uniform Commercial Code, as presently or hereafter in effect, and principal, interest and payments due on account of goods
sold or leased, services rendered, loans made or credit extended, together with title to or interest in all agreements, documents,
and instruments, evidencing, securing or guarantying the same;

 

(d) All
other intangible property (and related software) and rights relating to the Real Property, the Improvements, the personal property
described in Paragraph (a) above or the operation, occupancy, or use thereof, including, without limitation, all governmental
and non-governmental permits, licenses, and approvals relating to construction on or operation, occupancy, or use of the Real Property
or Improvements, all names under or by which the Real Property or Improvements may at any time be operated or known, all rights
to carry on business under any such names, or any variant thereof, all trade names and trademarks relating in any way to the Real
Property or the Improvements, and all good will and software in any way relating to the Real Property or the Improvements;

 

     

     

    

 

(e)
Trustor’s rights under all insurance policies covering the Real Property, the Improvements, the Personal Property, and
the other parts of the Trust Estate and any and all proceeds, loss payments, and premium refunds payable regarding the
same;

 

(f) All
reserves, deferred payments, deposits, refunds, cost savings, and payments of any kind relating to the construction of any Improvements
on the Real Property;

 

(g) All
stock watering rights relating to the Real Property;

 

(h) All causes of
action, claims, compensation, and recoveries for any damage to, destruction of, or condemnation or taking of the Real
Property, the Improvements, the Personal Property, or any other part of the Trust Estate, or for any conveyance in lieu
thereof, whether direct or consequential, or for any damage or injury to the Real Property, the Improvements, the Personal
Property, or any other part of the Trust Estate, or for any loss or diminution in value of the Real Property, the
Improvements, the Personal Property, or any other part of the Trust Estate;

 

(i) All
architectural, structural, mechanical, and engineering plans and specifications prepared for construction of Improvements or extraction
of minerals or gravel from the Real Property and all studies, data, and drawings related thereto; and also all contracts and agreements
of the Trustor relating to the aforesaid plans and specifications or to the aforesaid studies, data, and drawings or to the construction
of Improvements on or extraction of minerals or gravel from the Real Property;

 

0) All
commercial tort claims Trustor now has or hereafter acquires relating to the properties, rights, titles, and interests referred
to in this Exhibit B or elsewhere in the Deed of Trust;

 

(k) All
letter of credit rights (whether or not the letter of credit is evidenced by a writing) Trustor now has or hereafter requires relating
to the properties, rights, titles and interest referred to in this Deed of Trust;

 

(1) All
proceeds from sale or disposition of any of the aforesaid collateral and all supporting obligations ancillary thereto or arising
in any way in connection therewith;

 

(m) All
Trustor’s rights in proceeds of the loan evidenced by the Facility Documents;

 

(n) All of
Trustor’s rights in any and all warranties and guaranties with respect to any goods, materials, supplies, chattels,
fixtures, equipment, machinery, building materials, and work in progress attached to or placed in or on any part of the Real
Property, or used in connection with any construction on the Real Property; and

 

(o) All
of Trustor’s rights in all plans, specifications, plats, agreements, assessments, reports, and surveys related to the Real
Property;

 

Notwithstanding the foregoing, the Personal
Property shall not include any of the Other Agreements or other permit or license to the extent that the Trustor is expressly prohibited
from granting a security interest in such instrument pursuant to the terms thereof, but only to the extent such prohibition is
not invalidated under the Utah Uniform Commercial Code.Exhibit 10.3

 

SECOND AMENDED AND RESTATED

LEASE AGREEMENT

 

This Second Amended
and Restated Lease Agreement (this “Agreement”), dated February 7, 2019, is by and among Clifton
Mining Company, a Utah corporation (“Clifton”), The Woodman Mining
Company, a Utah corporation (“Woodman,” and together with Clifton, the “Lessors”),
and Desert Hawk Gold Corp., a Nevada corporation (“Desert Hawk”)
(each of Clifton, Woodman and Desert Hawk, individually a “Party” and collectively, the “Parties”).

 

RECITALS

 

A. Clifton
owns or controls certain patented and unpatented mining claims and is the lessee of certain Utah state metalliferous mineral leases
covering lands in the Gold Hill Mining District, in Tooele County, Utah, and Woodman jointly owns with Clifton certain of said
patented mining claims.

 

B. On
July 10, 2009, Clifton entered into an agreement with International Minerals & Metals Inc. and IMM-Dworkin Holdings, LLC (collectively,
“IMM”) whereby Clifton purchased 82 unpatented mining claims owned or controlled by IMM and agreed to pay IMM
a 0.5% (one-half of one percent) net smelter returns royalty (the “IMM Royalty”) on any future mineral production
revenues arising from those claims (the “IMM Agreement”). The mining claims that are subject to the IMM Royalty
are described in Exhibit A hereto (the “IMM Royalty Property”).

 

C. On
or about July 14, 2009, Lessors entered into an agreement with Dumont Nickel Inc. (now known as DNI Metals Inc.) and Dumont Mining
Company (collectively, the “Dumont Entities”) whereby Lessors purchased various mining claims, millsite claims
and state mineral leases, subject to a reservation by or a grant to the Dumont Entities of a 0.5% (one-half of one percent) net
smelter returns royalty (the “Dumont Royalty”) payable on any future mineral production revenues arising from
26 of the claims and one of the leases (the “Dumont Agreement”). The properties that are subject to the Dumont
Royalty are described in Exhibit B hereto (the “Dumont Royalty Property”).

 

D. The
Parties entered into that certain Mining Venture Agreement dated as of July 24, 2009 (the “Original Agreement”),
a memorandum of which was recorded on August 11, 2009 as entry number 330699 in the records of the Tooele County Recorder, in which
Clifton and Woodman granted to Desert Hawk exclusive possession of certain patented and unpatented mining claims for exploration,
development and mining purposes, and the right to occupy, explore, develop and mine such mining claims for minerals.

 

E. The
Parties subsequently entered into that certain Amended and Restated Lease and Sublease Agreement dated as of July 24, 2009 (the
“Amended Agreement”), a memorandum of which was recorded on June 14, 2010 as entry number 342985 in the records
of the Tooele County Recorder, in which Clifton and Woodman leased to Desert Hawk certain patented and unpatented mining claims
and subleased to Desert Hawk certain Utah state mineral leases, for purposes of mineral exploration, development and mining. The
Amended Agreement superseded and replaced the Original Agreement in its entirety.

 

F. On
September 9, 2013, Desert Hawk surrendered and relinquished from the Amended Agreement certain mining claims and mineral leases,
by virtue of a Notice of Partial Lease Termination recorded on September 25, 2013 as entry number 389821 in the records of the
Tooele County Recorder.

 

     

     

    

 

G. The
Parties wish to terminate the Amended Agreement as to certain of the mining claims and all of the mineral leases; supersede and
replace the Amended Agreement as to the remaining mining claims; and amend, restate and replace the Amended Agreement in its entirety
with this Agreement; all as provided in this Agreement.

 

NOW, THEREFORE, in
consideration of the covenants and mutual agreements set forth herein and other good and valuable consideration, the sufficiency
of which is acknowledged by the Parties, the Parties hereby agree as follows:

 

Article I

DEFINITIONS; CERTAIN InterPRETATIVE PROVISIONS

 

1.1 Defined
Terms. For purposes of this Agreement, the following terms have the following meanings (in addition to other terms defined
elsewhere in this Agreement):

 

		(a)	“Affiliate” means any person, partnership, joint venture, corporation, or other
form of enterprise which directly or indirectly controls, is controlled by, or is under common control with a Party. For purposes
of the preceding sentence, “control” means possession, directly or indirectly, of the power to direct or cause direction
of management and policies through ownership of voting securities, contract, voting trust, or otherwise.

 

		(b)	“BLM Maintenance Fees” means the annual unpatented mining claim maintenance
fees payable to the United States Bureau of Land Management “BLM”) under the Mining Law of 1872, as amended,
in connection with the Leased Premises.

 

		(c)	“Cactus Mill” means the mill facility located on the unpatented Cactus millsite
claim (BLM serial number UMC317839, located within Section 35 of T7S, R18W, and Section 2 of T8S, R18W, SLM), and includes all
improvements, buildings and fixtures included in, attached to, or used with the mill, but does not include the Cactus millsite
claim or any other real property.

 

		(d)	“Development” means all preparation for the removal and recovery of Products,
including the construction or installation of a mill or any other improvements to be used for the mining, handling, milling, processing
or other beneficiation of Products.

 

		(e)	“Leased Premises” means those parts of the patented and unpatented mining claims
described in Exhibit C hereto.

 

		(f)	“Leasehold Mortgagee” means Pandion Mine Finance, LP.

 

		(g)	“Mining” means the mining, extracting, producing, handling, milling or other
processing of Products.

 

		(h)	“Products” means all ores, minerals, and mineral resources produced from the
Leased Premises under this Agreement.

 

		(i)	“Relinquished Properties” means all of the patented mining claims, unpatented
mining claims, unpatented millsite claims and state mineral leases that were subject to the Original Agreement or the Amended Agreement,
other than the Leased Premises.

 

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1.2 Certain
Interpretative Provisions. In this Agreement, unless the contrary intention appears, a reference:

 

		(a)	to the singular includes the plural and vice versa, and to a gender includes all genders;

 

		(b)	to any rules or statutory provision includes any modification or re-enactment of it or any provision
substituted for it, and all rules, procedures, ordinances, regulations and statutory instruments (however described) issued under
it;

 

		(c)	to the words “including” and “include” shall mean “including without
limitation” and “include without limitation,” respectively;

 

		(d)	the headings do not affect the interpretation of this Agreement and the Exhibits form part of this
Agreement; and

 

		(e)	in this Agreement the words “Exhibit,” “Exhibits,” “Article,”
“Articles,” “Section” or “Sections,” refer to Exhibits to and Articles and Sections of this
Agreement.

 

Article II

Grant of lease, RELINQUISHMENT OF RIGHTS, ETC.

 

2.1 Grant
of Lease and Related Rights. Lessors by these presents do grant, demise, lease and let the Leased Premises exclusively unto
Desert Hawk for the purpose of exploration, evaluation, Development, Mining and production of Products therefrom, subject to the
Royalty payments described in Section 6.5 and all other terms and conditions of this Agreement. Subject to applicable regulatory
and permitting requirements and the terms and conditions of this Agreement, Clifton grants to Desert Hawk the following rights,
to the extent that Clifton holds and can therefore grant such rights:

 

		(a)	exclusive and quiet possession of the Leased Premises for exploration, Development and Mining purposes
during the term of this Agreement;

 

		(b)	the right to enter upon, into and through the Leased Premises, at such points and in such manner
as may be necessary or convenient, and to occupy and use the Leased Premises for the purpose of exploring for, Development of and
Mining of Products by any mining and processing method or methods that shall be reasonably practicable, including heap leaching
and activities related to heap leaching;

 

		(c)	the right to make reasonable use of the surface of the Leased Premises as may be necessary or convenient
to the Development, Mining, removal, storing and marketing of Products, and the right to construct, use and maintain structures,
stockpiles, roads, power lines and other improvements on the Leased Premises as shall be reasonably necessary in connection with
Desert Hawk’s operations hereunder;

 

		(d)	the right to have and use the free and uninterrupted right-of-way on and within the Leased Premises,
at such points and in such manner as may be necessary or convenient to the Development, Mining, removal and marketing of Products;

 

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		(e)	the right to transport on, across, over and within the Leased Premises any Products; and

 

		(f)	the continuous right and privilege to destroy so much of the Leased Premises as may be reasonably
necessary to carry out the purposes of this Agreement, including the right to enter upon the Leased Premises to repair any subsidence
damage that may occur to surface structures on the Leased Premises.

 

2.2 Reserved
Rights. From the foregoing grant Lessors hereby reserve to themselves, their successors and their assigns the following rights:

 

		(a)	the free and uninterrupted right to cross over and within all of the Leased Premises, at such points
and in such manner as may be necessary or convenient to the Development, Mining, removal, marketing and transporting of minerals
removed from other properties owned or controlled by Lessors or either of them, provided such use does not unreasonably interfere
with Desert Hawk’s operations under this Agreement; and

 

		(b)	for the avoidance of doubt, all rights to use for all purposes (including Development and Mining
purposes) those portions of the mining claims listed in Exhibit C that are not part of the Leased Premises.

 

2.3 Relinquished
Properties. Desert Hawk hereby relinquishes to Lessors all of the Relinquished Properties and acknowledges that Desert Hawk
no longer has any right, title or interest of any kind in or to any of the Relinquished Properties or any minerals or mineral products
produced therefrom. Public notice of Desert Hawk’s relinquishment shall be accomplished through the provisions of Section
13.15. Desert Hawk’s relinquishment is and shall continue to be subject to any and all unsatisfied reclamation obligations
relative to both the Relinquished Properties and the Leased Premises that were incurred by Desert Hawk during the existence of
the Original Agreement or the Amended Agreement. Any such unsatisfied reclamation obligations shall remain the obligations of Desert
Hawk and Desert Hawk shall satisfy any such obligations promptly and fully after the Closing Date.

 

2.4 Term.
This Agreement shall be for a term of 20 years from and after the date of this Agreement and for so long thereafter as the Leased
Premises are being actively used by Desert Hawk for commercial Mining purposes, unless sooner terminated by the Parties as provided
herein.

 

2.5 No
Implied Covenants. There are no implied covenants contained in this Agreement other than those of good faith and fair dealing.

 

Article III

CACTUS MILL

 

3.1 Relinquishment
of Cactus Mill. The Parties agree that the Cactus Mill, and the Cactus millsite claim (UMC317839), are among the properties
relinquished in their entirety by Desert Hawk pursuant to Section 2.3. Desert Hawk makes no representations or warranties as to
(i) the condition or state of repair of the Cactus Mill; (ii) the compliance or non-compliance of the Cactus Mill with any applicable
laws, regulations or ordinances (including any applicable zoning, building or development codes); (iii) the value, expense of operation,
or income potential of the Cactus Mill; (iv) any other fact or condition which has or might affect the Cactus Mill or the condition,
state of repair, compliance, value, expense of operation or income potential of the Cactus Mill or any portion thereof; or (v)
whether the Cactus Mill contains asbestos or harmful or toxic substances or pertaining to the extent, location or nature of same;
but Desert Hawk does represent and warrant that (a) it has not unreasonably changed, altered, modified or disturbed the Cactus
Mill in any way during the existence of the Original Agreement or the Amended Agreement, and (b) that it has not deposited any
hazardous substances or contaminated materials on any part of the Cactus Mill during the existence of the Original Agreement or
the Amended Agreement (the Parties agreeing that, for purposes of this Agreement, ore from the Yellow Hammer Mine is not considered
to be a hazardous substance or a contaminated material).

 

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3.2 Permits
and Bonds. Reclamation of the Cactus Mill is currently secured by a reclamation surety bond provided by Desert Hawk to the
Utah Division of Oil, Gas and Mining (“DOGM”) in the amount of $42,526.00 (the “Current Reclamation
Bond”). DOGM has indicated that a reclamation surety bond increase to $192,965.00 (the “Increased Reclamation
Bond”) must be completed by Desert Hawk no later than February 28, 2019. If the Closing Date has not occurred by February
21, 2019, Desert Hawk shall be obligated to provide the Increased Reclamation Bond to DOGM at Desert Hawk’s sole expense.
Promptly following the Closing Date, Desert Hawk shall cooperate with Lessors in attempting to transfer all of Desert Hawk’s
regulatory permits, authorizations and reclamation surety (i.e. the Current Reclamation Bond or the Increased Reclamation
Bond, as the case may be) for the Cactus Mill to Clifton, at no cost to Clifton. Notwithstanding the foregoing commitment of cooperation
by Desert Hawk, no assurance or guarantee is hereby provided that the permits or reclamation surety bond will be transferrable
to Clifton. Desert Hawk’s failure to transfer to Clifton the permits and reclamation surety bond for the Cactus Mill shall
not constitute a default under this Agreement or otherwise affect any other terms of this Agreement if Desert Hawk has in good
faith used its best efforts to do so, but if Desert Hawk is unable to complete a transfer to Clifton of the permits and reclamation
surety bond for the Cactus Mill within one year after the Closing Date, then Desert Hawk shall be obligated to pay to Clifton in
cash the amount of the Increased Reclamation Bond (which Clifton may use to provide its own reclamation surety bond for the Cactus
Mill) and Desert Hawk may thereafter seek to obtain for its own benefit a refund from DOGM of the Increased Reclamation Bond.

 

3.3 Possession
of Cactus Mill; Risk of Loss. Clifton shall be given possession of the Cactus Mill on the Closing Date. The risk of loss by
destruction or damage to the Cactus Mill by fire or otherwise prior to the Closing Date is that of Desert Hawk. Desert Hawk shall
leave the Cactus Mill, together with all fixtures, equipment and improvements (including all fixtures, equipment and improvements
added or made by Desert Hawk during the term of the Original Agreement or the Amended Agreement), “as is” and shall
return to Clifton all of Clifton’s equipment at the Cactus Mill promptly after the Closing Date. For the avoidance of doubt,
all existing fixtures, equipment and improvements at and to the Cactus Mill (including all fixtures, equipment and improvements
added or made by Desert Hawk during the term of the Original Agreement or the Amended Agreement) shall upon the Closing Date be
the sole property of Lessors.

 

3.4 Temporary
Use of Fuel Station by Desert Hawk. For a period of one year following the Closing Date, Desert Hawk shall have access to and
use of the fuel station located at the Cactus Mill site, if but only if the Parties first agree in writing to reasonable terms
and conditions for such temporary use. In addition to such terms and conditions, Desert Hawk, on behalf of itself and its employees,
contractors, agents and representatives, agrees to indemnify, protect, save and hold harmless Clifton and Woodman and their Affiliates
(if any) and all of their respective officers, directors, members, managers, trustees, employees, shareholders, partners, agents
and representatives (collectively, the “Lessor Indemnitees”) from and against any and all losses, costs, damages,
expenses, attorney fees, liens, claims, demands, environmental liabilities and other liabilities, obligations, suits and actions
of every kind (collectively, “Losses”) that may be imposed upon or incurred by any of the Lessor Indemnitees
on account of, or arising directly or indirectly from, Desert Hawk’s use of the fuel station.

 

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Article IV

REPRESENTATIONS AND WARRANTIES

 

4.1 Capacity
of Parties. Each Party represents and warrants on behalf of itself as follows:

 

		(a)	that it is a corporation duly incorporated and in good standing in its state of incorporation and
that it is qualified to do business and is in good standing in Utah;

 

		(b)	that it has the capacity to enter into and perform this Agreement and all transactions contemplated
herein and that all corporate and other actions required to authorize it to enter into and perform this Agreement have been properly
taken;

 

		(c)	that it will not breach any other agreement or arrangement by entering into or performing this
Agreement; and

 

		(d)	that this Agreement has been duly executed and delivered by it and is valid and binding upon it
in accordance with its terms.

 

4.2 Lessors
Representations and Warranties. Clifton and Woodman (in the case of Woodman, for purposes of Section 4.2 (a) and (e) below
only) make the following representations and warranties as of the Closing Date:

 

		(a)	with respect to those of the Leased Premises owned by Clifton and Woodman in fee simple, Clifton
and Woodman are in exclusive possession of (subject to the rights granted to Desert Hawk in the Amended Agreement) and own such
Leased Premises in their respective interests free and clear of all known defects, liens and encumbrances except those specifically
identified as Potential Encumbrances in Exhibit D;

 

		(b)	Clifton has delivered to Desert Hawk all requested information concerning title to the Leased Premises
in Clifton’s possession or control, including true and correct copies of all contracts relating to the Leased Premises of
which Clifton has knowledge;

 

		(c)	with respect to unpatented mining claims located by Clifton that are included within the Leased
Premises, except as provided in Exhibit D and subject to the paramount title of the United States: to the best of Clifton’s
knowledge and belief (i) the unpatented mining claims were properly laid out and monumented; (ii) all required location work was
properly performed; (iii) location notices were properly recorded and filed with appropriate governmental agencies; (iv) all assessment
work required to hold the unpatented mining claims has been performed in a manner consistent with that required through the assessment
year ending September 1, 2019; (v) all affidavits of assessment work and other filings required to maintain the claims in good
standing have been properly and timely recorded or filed with appropriate governmental agencies; (vi) subject to the Potential
Encumbrances described in Exhibit D, the claims are free and clear of defects, liens and encumbrances arising by, through
or under Clifton; and (vii) Clifton has no knowledge of conflicting third-party claims. Nothing in this Section 4.2(c), however,
shall be deemed to be a representation or a warranty that any of the unpatented mining claims contains a discovery of minerals.
With respect to those unpatented mining claims that were not located by Clifton or an Affiliate of Clifton, but are included within
the Leased Premises, Clifton likewise makes the foregoing representations and warranties (with the foregoing exceptions) to the
best of its knowledge and belief;

 

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		(d)	with respect to the Leased Premises, there are to the best of Lessors’ knowledge and belief
no pending or threatened actions, suits, claims or proceedings; and

 

		(e)	with respect to the Dumont Agreement and the IMM Agreement, Lessors have not previously mined any
minerals from the IMM Royalty Property or from the Dumont Royalty Property and Lessors therefore owe no royalty payments under
either agreement, Lessors have not knowingly caused any default in any material respect under either agreement as a result of Lessors’
actions, and Lessors have not received any notice of an asserted default thereunder.

 

For purposes of this Section 4.2, “knowledge”
means the actual knowledge of Scott Moeller, without any duty of inquiry. Representations and warranties contained in this Section
are provided for the exclusive benefit of Desert Hawk and a breach of any one or more thereof may be waived by Desert Hawk in whole
or in part at any time without prejudice to its rights in respect of any breach of the same or any other representation or warranty,
and the representations and warranties contained in this section shall survive the termination of this Agreement.

 

4.3 Desert
Hawk Representations and Warranties. Desert Hawk hereby represents and warrants to each of Clifton and Woodman that:

 

		(a)	it is, and has been, duly incorporated and validly exists as a corporation in good standing under
the laws of the State of Nevada;

 

		(b)	it has the right to enter into this Agreement;

 

		(c)	it is duly qualified to transact business in the State of Utah;

 

		(d)	any of its shares of common stock delivered to Clifton pursuant to this Agreement shall, at the
time of delivery to Clifton, be duly authorized, validly issued, fully paid and non-assessable, free of any liens, charges or encumbrances
other than such resale restrictions as to holding periods as imposed by regulatory authorities and agreed herein;

 

		(e)	it has obtained all corporate authorizations for the execution of this Agreement and for the performance
of this Agreement by it;

 

		(f)	with respect to the Dumont Agreement and the IMM Agreement, Desert Hawk has timely and properly
paid to Lessors all production royalties owed under both of those agreements, there are no production royalties owing under either
agreement that have not already been paid by Desert Hawk to Lessors, Desert Hawk in its operations under the Original Agreement
and the Amended Agreement has not breached any material provision of the IMM Agreement or the Dumont Agreement, and Desert Hawk
has not received any notice of an asserted default under either agreement;

 

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		(g)	it may mortgage or pledge the leasehold interest acquired under this Agreement for purposes of
financing exploration, Development and Mining operations on the Leased Premises, including corporate overhead for such operations
(but not for any other purpose without Clifton’s prior, written, discretionary consent). The Parties acknowledge that the
rights in the Leased Premises granted to Desert Hawk pursuant to this Agreement are leasehold interests only and that Desert Hawk
shall not grant any mortgage that affects, relates to or encumbers in any way ownership or fee title to the Leased Premises in
any manner whatsoever. Desert Hawk will not do or fail to do or cause or permit to be done any act or thing whatsoever whereby
Clifton’s or Woodman’s interest in the Leased Premises may be impaired in any manner whatsoever; and

 

		(h)	it shall do all such acts and things that may be necessary to maintain the Leased Premises in good
standing and shall promptly remedy any deficiencies in respect of any of aforesaid warranties.

 

Representations and warranties contained
in this section are provided for the exclusive benefit of Clifton and Woodman, and a breach of any one or more thereof may be waived
by Clifton and Woodman in whole or in part at any time without prejudice to their rights in respect of any breach of the same or
any other representation or warranty, and the representations and warranties contained in this section shall survive the termination
of this Agreement.

 

4.4 Disclosures.
Each Party represents and warrants that it is unaware of any material facts or circumstances that have not been disclosed in this
Agreement, which should be disclosed to the other Parties in order to prevent the representations in this Article IV from being
materially misleading.

 

4.5 Liability
Regarding Certain Potential Encumbrances. Clifton and Woodman (in proportion to their respective ownership interests in the
relevant portions of the Leased Premises) will be responsible for any and all liability that may exist under those Potential Encumbrances
that are identified in Exhibit D, and shall indemnify, protect, save and hold harmless Desert Hawk and its Affiliates (if
any), officers, directors, employees, shareholders and agents from and against any and all loss of leasehold title or other actual
(but not consequential, special, expectancy, speculative or punitive) Losses that may be incurred by Desert Hawk on account of
the existence or enforcement of any rights under said Potential Encumbrances.

 

Article V

PRODUCTION ROYALTIES

 

5.1 Assumption
of Dumont Royalty Obligations. Effective as of the Closing Date, Desert Hawk shall be solely responsible for proper payment
to the Dumont Entities of the Dumont Royalty in accordance with the Dumont Agreement with respect to any minerals mined from any
of the Dumont Royalty Property. While this Agreement remains in effect, Desert Hawk, at its sole expense, shall timely comply with
all provisions of the Dumont Agreement. Desert Hawk, on behalf of itself and its employees, contractors, agents and representatives,
shall indemnify, protect, save and hold harmless the Lessor Indemnitees from and against any and all Losses that may be imposed
upon or incurred by any of the Lessor Indemnitees on account of, or arising directly or indirectly from, Desert Hawk’s obligations
under this paragraph. Desert Hawk shall not enter into any agreement with the Dumont Entities, before or after the Closing Date,
that modifies or alters in any way the Dumont Agreement or any of the obligations thereunder, except that Desert Hawk may (with
prior notice to Lessors) complete a transaction with the Dumont Entities to purchase and acquire all of the Dumont Royalty. If
Desert Hawk completes any such transaction with the Dumont Entities to acquire the Dumont Royalty, then Desert Hawk shall (a) retain
exclusive ownership of the Dumont Royalty, (b) allow no encumbrances of any kind on the Dumont Royalty, and (c) not later than
15 days after such acquisition, execute and deliver to Lessors, for no additional consideration from Lessors, an instrument unconditionally
and permanently terminating in its entirety the Dumont Royalty as to all of the Dumont Royalty Property, such instrument to be
prepared by counsel for Lessors within 7 days after a request to do so by Desert Hawk. The provisions of this Section 5.1 shall
survive the termination of this Agreement.

 

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5.2 Assumption
of IMM Royalty Obligations. Effective as of the Closing Date, Desert Hawk shall be solely responsible for proper payment to
IMM of the IMM Royalty in accordance with the IMM Agreement with respect to any minerals mined from any of the IMM Royalty Property.
While this Agreement remains in effect, Desert Hawk, at its sole expense, shall timely comply with all provisions of the IMM Agreement.
Desert Hawk, on behalf of itself and its employees, contractors, agents and representatives, shall indemnify, protect, save and
hold harmless the Lessor Indemnitees from and against any and all Losses that may be imposed upon or incurred by any of the Lessor
Indemnitees on account of, or arising directly or indirectly from, Desert Hawk’s obligations under this paragraph. Desert
Hawk shall not enter into any agreement with IMM, before or after the Closing Date, that modifies or alters in any way the IMM
Agreement or any of the obligations thereunder, except that Desert Hawk may (with prior notice to Lessors) complete a transaction
with IMM to purchase and acquire all of the IMM Royalty. If Desert Hawk completes any such transaction with IMM to acquire the
IMM Royalty, then Desert Hawk shall (a) retain exclusive ownership of the IMM Royalty, (b) allow no encumbrances of any kind on
the IMM Royalty, and (c) not later than 15 days after such acquisition, execute and deliver to Lessors, for no additional consideration
from Lessors, an instrument unconditionally and permanently terminating in its entirety the IMM Royalty as to all of the IMM Royalty
Property, such instrument to be prepared by counsel for Lessors within 7 days after a request to do so by Desert Hawk. The provisions
of this Section 5.2 shall survive the termination of this Agreement.

 

5.3 Termination
of Royalty Obligation under Amended Agreement. For the avoidance of doubt, the Parties acknowledge that their termination of
the Amended Agreement (and replacement thereof with this Agreement, as provided in Sections 13.12 and 13.19) includes the termination
of Desert Hawk’s obligations under the Amended Agreement to pay production royalties to Lessors. However, (a) Desert Hawk
shall remain obligated to pay Lessors any and all production royalties that have accrued or do accrue under the Amended Agreement,
the Dumont Agreement and the IMM Agreement prior to the Closing Date that remain unpaid at that time (which obligation shall survive
the termination of this Agreement), and (b) Desert Hawk has a new obligation under this Agreement to pay production royalties to
Lessors under certain circumstances as set forth in Section 6.5.

 

5.4 Royalty
in favor of Leasehold Mortgagee. Lessors hereby consent to Desert Hawk’s contractual grant to the Leasehold Mortgagee,
in connection with the closing of the transactions contemplated in this Agreement, of a royalty payable on future mineral production
revenues, but any such grant shall not alter any of the terms or conditions of this Agreement.

 

Article VI

CASH, STOCK AND OTHER COMPENSAtion

 

6.1 Cash
Payment. On or prior to the Closing Date, Desert Hawk shall pay Three Million Dollars ($3,000,000) to Clifton by wire transfer.
Prior to the Closing Date, Clifton shall provide to Desert Hawk bank wiring instructions for payment of these funds.

 

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6.2 Payment
of Delinquent Amounts. On or prior to the Closing Date, Desert Hawk shall pay to Clifton the sum of $13,389.73, in satisfaction
of delinquent amounts currently owed by Desert Hawk to Clifton under the Amended Agreement for drill core shed rental fees and
state mineral lease rental payments.

 

6.3 Desert
Hawk Shares. On or prior to the Closing Date, Desert Hawk shall issue and deliver to Clifton Five Million Five Hundred Thousand
(5,500,000) shares of common stock of Desert Hawk (the “Shares”), which Shares shall be represented by a stock
certificate in the name of Clifton delivered on or prior to the Closing Date.

 

6.4 Registration
Rights. Desert Hawk shall grant to Clifton registration rights for the Shares, as set forth in the Registration Rights Agreement
attached hereto as Exhibit E (the “Registration Agreement”). To the extent that any of the shares of
common stock of Desert Hawk currently owned by Clifton (the “Existing Shares”) have not already been similarly
registered by Desert Hawk, Desert Hawk’s obligations under this paragraph and the Registration Agreement shall extend to
both the Shares and the Existing Shares.

 

6.5 Production
Royalty Obligation. Desert Hawk shall pay to Clifton a royalty of 2.5% of the net smelter returns on all Products produced
from the Leased Premises and sold (the “Royalty”), which Royalty obligation shall commence 18 months after the
Closing Date and which Royalty shall be calculated and paid in accordance with the terms of Exhibit F; provided, however,
that the Royalty shall not be payable if a registration statement registering the resale of the Shares under the Securities Act
of 1933, as amended (the “Securities Act”) is declared effective by the Securities and Exchange Commission (“SEC”)
within 18 months after the Closing Date; and provided further that the Royalty shall not be payable after the date on which such
resale registration statement is declared effected by the SEC.

 

6.6 Representations
of Clifton. Clifton hereby acknowledges that the following statements are true as of the Closing Date:

 

		(a)	Accredited Investor. Clifton hereby represents that it is an “accredited investor”
as that term is defined in Rule 501(a) of Regulation D promulgated by the SEC, because of the fact that Clifton is a corporation,
limited liability company, partnership, or a Massachusetts or similar business trust, which was not formed for the specific purpose
of acquiring the Shares, with total assets in excess of $5,000,000”

 

		(b)	Restricted Securities. Clifton understands that the Shares have not been registered
pursuant to the Securities Act, or any state securities act, and thus are “restricted securities” as defined in Rule
144 promulgated by the SEC. Therefore, under current interpretations and applicable rules, Clifton will be required to retain the
Shares for a minimum period and any future public resale of the Shares that occurs prior to the date that is one year from the
date that Clifton receives the Shares from Desert Hawk will be possible only if Desert Hawk is current in its filings with the
SEC under the Exchange Act. Accordingly, Clifton hereby acknowledges that it is prepared to hold the Shares for an indefinite period.

 

		(c)	Investment Purpose. Clifton acknowledges that the Shares are being acquired for its
own account, for investment, and not with the present view towards the distribution, assignment, or resale to others or fractionalization
in whole or in part. Clifton further acknowledges that no other person has, and Clifton currently intends that no person (other
than the direct or indirect equity owners of Clifton) will have in the future, a direct or indirect beneficial or pecuniary interest
in the Shares.

 

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		(d)	Limitations on Resale; Restrictive Legend. Clifton acknowledges and agrees that,
while the Shares constitute “restricted securities” under the Securities Act, it will not sell, assign, hypothecate,
or otherwise transfer any rights to, or any interest in, the Shares except (i) pursuant to an effective registration statement
under the Securities Act, or (ii) in any other transaction which, in the opinion of counsel acceptable to Desert Hawk (acting reasonably),
is exempt from registration under the Securities Act, or the rules and regulations of the SEC thereunder. Clifton also acknowledges
that an appropriate legend will be placed upon each of the certificates representing the Shares stating that the Shares have not
been registered under the Securities Act and setting forth or referring to the restrictions on transferability and sale of the
Shares.

 

		(e)	Access to Information. Clifton, through the SEC website (www.sec.gov), has had access
to Desert Hawk’s 2017 annual report on Form 10-K and all other reports and documents filed by Desert Hawk with the SEC since
the date of the annual report on Form 10-K. Clifton has relied upon the information contained therein and has not been furnished
any other documents, literature, memorandum or prospectus.

 

		(f)	Opportunity to Ask Questions. The person signing this Agreement on behalf of Clifton
has had the opportunity to question and receive answers from Desert Hawk concerning the terms and conditions of the proposed stock
transaction and the business of Desert Hawk.

 

		(g)	Knowledge and Experience in Business and Financial Matters. The person signing this
Agreement on behalf of Clifton has such knowledge and experience in business and financial matters that he is capable of evaluating
the risks of the prospective investment, and that the financial capacity of Clifton is of such proportion that the total cost of
its commitment in the Shares would not be material when compared with Clifton’s total financial capacity.

 

Article VII

CLOSING

 

7.1 Closing
Date. Subject to the terms and conditions of this Agreement, the effectiveness of this Agreement shall cease, and the Amended
Agreement shall remain in full force and effect, if the conditions set forth in Sections 7.2 and 7.3 are not satisfied on or before
February 28, 2019 (the “Outside Closing Date”). The date, if any, on which such conditions are satisfied is
referred to herein as the “Closing Date.” Any Party may terminate this Agreement by giving notice to the other
Parties if the Closing Date has not occurred on or before the Outside Closing Date.

 

7.2 Desert
Hawk’s Closing Deliverables. On or before the Closing Date, Desert Hawk shall deliver to Lessors:

 

		(a)	A duly executed counterpart of this Agreement;

 

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		(b)	Resolutions of the Board of Directors of Desert Hawk approving and authorizing the execution, delivery
and performance of this Agreement and the consummation of the transactions contemplated hereby;

 

		(c)	$3,000,000 in immediately available funds;

 

		(d)	$13,389.73 as compensation for delinquent amounts owed to Clifton under the Amended Agreement;

 

		(e)	A stock certificate representing the Shares;

 

		(f)	The Registration Agreement, duly executed;

 

		(g)	A duly executed and notarized counterpart of a Notice of Partial Lease Termination and Amended
Agreement substantively in the form attached hereto as Exhibit G (the “Notice of Agreement”);

 

		(h)	Any documentation reasonably requested by Lessors to evidence transfer of the Cactus Mill and the
Current Reclamation Bond or the Increased Reclamation Bond and related regulatory permits and authorizations to Lessors; and

 

		(i)	All other instruments and documents that Lessors or their respective counsel shall deem to be reasonably
necessary: (i) to fulfill any obligation required to be fulfilled by Desert Hawk on the Closing Date; and (ii) to evidence satisfaction
of any conditions to the Closing Date.

 

7.3 Lessors’
Closing Deliverables. On or before the Closing Date, each Lessor shall deliver to Desert Hawk:

 

		(a)	A duly executed counterpart of this Agreement;

 

		(b)	Resolutions of the Board of Directors of Clifton and Woodman approving and authorizing the execution,
delivery and performance of this Agreement and the consummation of the transactions contemplated hereby;

 

		(c)	The Registration Agreement, duly executed;

 

		(d)	A duly executed and notarized counterpart of the Notice of Agreement; and

 

		(e)	All other instruments and documents that Desert Hawk or its counsel shall deem to be reasonably
necessary: (i) to fulfill any obligation required to be fulfilled by Lessors on the Closing Date; and (ii) to evidence satisfaction
of any conditions to the Closing Date.

 

Article VIII

COMMINGLING

 

8.1 The
contents of this Section 8.1 shall only apply at any time that Desert Hawk is obligated to pay the Royalty in accordance with Section
6.5. Desert Hawk may commingle Products from the Leased Premises (“Subject Ore”) with ores, minerals or other
products from other property (“Other Ore”), but before commingling Desert Hawk shall weigh and sample the Subject
Ore and Other Ore in accordance with sound mining and metallurgical practices for moisture and metal content and assay the samples
to determine metal content. Desert Hawk shall keep accurate records of such commingling data and provide copies quarterly to Clifton
showing weights or volumes, moisture, percent metal content, and gross metal content of the Subject Ore and the Other Ore. The
revenues from any commingled ore shall be allocated between Subject Ore and Other Ore on the basis of the respective weight, grade,
moisture content and metal content of the ores.

 

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Article IX

NON-COMPETITION AND USE OF CLIFTON FACILITIES

 

9.1 Non-Compete
Areas.

 

		(a)	While this Agreement remains in effect, and provided that Desert Hawk is not in default of this
Agreement, Lessors shall not negotiate with the owners of, or attempt to purchase, directly or indirectly, any interest in, those
patented and unpatented mining claims contained within that part of Sections 7, 8, 17 and 18 of T8S, R17W, SLM depicted by dashed
red lines in Exhibit H hereto (the “Non-Compete Area”).

 

		(b)	While this Agreement remains in effect, and provided that Lessors are not in default of this Agreement,
Desert Hawk shall not negotiate with Ben Simpson (or his successors) regarding, or attempt to purchase, directly or indirectly,
any interest in any patented and unpatented mining claims owned by Mr. Simpson (or his successors) outside of the Non-Compete Area.

 

		(c)	Except as expressly provided in the preceding portions of this Section 9.1, each Party shall have
the free, unrestricted and independent right to engage in and receive the full benefits of any and all business endeavors of any
sort whatsoever outside the Leased Premises or outside the scope of this Agreement, whether or not competitive with the endeavors
contemplated herein, without consulting any other Party or inviting or allowing any other Party therein.

 

9.2 Use
of Clifton Facilities. To the extent not needed by Clifton from time to time, Clifton shall make available to Desert Hawk,
on a non-exclusive basis, while this Agreement remains in effect the following items and facilities located in or pertaining to
Gold Hill, Utah as necessary for Desert Hawk’s operations on the Leased Premises: existing permits, water rights and the
trailer park (collectively, the “Gold Hill Facilities”), provided that Desert Hawk shall promptly reimburse
Clifton for any and all maintenance and holding fees related to the Gold Hill Facilities, including the annual fees charged by
the Utah School and Institutional Trust Lands Administration and other state agencies. Clifton makes no representation or warranty
concerning the ownership, status, condition, safety, usability and value of the Gold Hill Facilities and expressly disclaims any
such representations and warranties. If Desert Hawk wishes to use any other buildings, equipment or facilities of Lessors, the
Parties shall negotiate the terms and conditions of such use on a case by case basis.

 

9.3 Use
of Core Shed. Desert Hawk shall be entitled to use, jointly with Lessors, the drill core shed rented by Clifton in Wendover,
Utah. Desert Hawk shall reimburse Clifton, within five days after the beginning of each month, for the monthly rental fee incurred
by Clifton (which fee is currently $350 per month). Such monthly reimbursement payments shall be due and payable to Clifton without
any invoice from Clifton therefor or any reminder from Clifton thereof. Clifton shall promptly notify Desert Hawk of any increase
in the monthly rental fee.

 

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Article X

DESERT Hawk’s PERFORMANCE REQUIREMENTS

 

10.1 Should
Desert Hawk terminate the Agreement, Desert Hawk shall have no residual rights nor retain any ownership in anything including the
Leased Premises or equipment, and Lessors shall have no future obligations to Desert Hawk.

 

10.2 With
respect to the Leased Premises, Desert Hawk shall:

 

		(a)	carry out work on the Leased Premises in accordance with good
mining and financial practices and in accordance with all applicable federal, state and local laws,
regulations and ordinances (as the same may be changed from time to time); and, in the case of accounts, in accordance with generally
accepted accounting practices;

 

		(b)	until the registration statement required under Section 6.4 is declared effective by the SEC and
for a period of one year thereafter, afford Lessors, upon prior notice and during reasonable business hours, access to the Leased
Premises and to all data, records, maps, reports and information in Desert Hawk’s its possession or control from, and relating
to, the Leased Premises and to work performed for or by it thereupon with full rights to make copies and/or take extracts (Desert
Hawk agreeing to keep full and complete records and accounts at a central location known to Lessors), all at the sole expense and
sole risk of Lessors. Lessors hereby indemnify and save harmless Desert Hawk, its representatives and employees from any liability
of any nature whatsoever that may arise, or be alleged to arise, with respect to any such access;

 

		(c)	maintain the Leased Premises in good standing, including: Desert Hawk shall pay all property payments
and payment obligations (including: (1) BLM Maintenance Fees, which fees shall be paid by no later than July 15 of each year, with
written documentation evidencing such payment provided by Desert Hawk to Clifton by no later than August 1 of each year, (2) annual
proofs of labor and/or notices of intent to hold, which shall be recorded in Tooele County by no later than two months before the
statutory due date, with written documentation of such recordings given to Clifton by no later than one month before the statutory
due date, (3) all property tax payments, which shall be paid on or before the statutory due date, with written documentation of
such payments given to Clifton by no later than one month before the statutory due date (4) all IMM Royalty payments, which shall
be paid at least two weeks prior to the contractual due date, with written documentation of such payments given to Clifton by no
later than one week before the contractual due date, (5) all Dumont Royalty payments, with written documentation of such payments
given to Clifton by no later than one week before the contractual due date, (6) all regulatory permit fees, and (7) any other payment,
royalty or holding obligation that may hereafter be imposed by the federal government or the State of Utah) pertaining or required
with respect to the Leased Premises during the term of this Agreement;

 

		(d)	carry out all work and pay all creditors such that no creditor, mechanics, litigation or other
liens are levied against the Leased Premises, and if any such liens are so levied, immediately cause the same to be discharged
or vacated unless Desert Hawk is diligently contesting the same in good faith;

 

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		(e)	maintain reasonable insurance coverage of a nature and extent similar to that maintained by corporations
carrying out and/or supervising work of a nature and extent and in a locale similar to that contemplated hereunder, with Lessors
to be named insureds on the appropriate policies, and Desert Hawk shall provide a copy of such policies to Clifton before Desert
Hawk or any of its employees, contractors or agents enter onto the Leased Premises;

 

		(f)	undertake, in the exercise of its powers and the performance of its duties and obligations hereunder,
to act in good faith and with fair dealing;

 

		(g)	on behalf of itself and its employees, contractors, agents and representatives, indemnify, protect,
save and hold harmless the Lessor Indemnitees from and against any and all Losses that may be imposed upon or incurred by any of
the Lessor Indemnitees on account of, or arising directly or indirectly from, Desert Hawk’s interest in the Leased Premises
or Desert Hawk’s activities and operations under or relating to this Agreement; and

 

		(h)	reclaim and restore the Leased Premises in strict accordance with all applicable federal, state
and local laws, regulations, ordinances and permits, as the same may be amended from time to time.

 

The indemnities and the reclamation obligations
contained in this Section 10.2 shall survive the termination of this Agreement.

 

10.3 Except
as otherwise provided in this Agreement, Lessors shall not unreasonably interfere with the Mining or Development operations of
Desert Hawk on the Leased Premises.

 

Article XI

DATA

 

11.1 Clifton
shall make available to Desert Hawk all drill core, all geological, geophysical and engineering data and maps, logs of drill holes,
results of assaying and sampling, and similar data concerning the Leased Premises (or copies thereof) which are in Clifton’s
possession or control, to the extent such materials have not been previously provided to Desert Hawk. Desert Hawk shall have access
to the drill core shed maintained by Clifton in Wendover, Utah, provided Desert Hawk is not delinquent in its payment obligations
under Section 9.3 or otherwise in breach of this Agreement.

 

11.2 During
the term of this Agreement Desert Hawk shall (i) make available for inspection by Clifton all factual geological and geophysical
data and maps including interpretive data, logs of drill holes, and results of assaying and sampling pertaining to the Leased Premises
which Desert Hawk has obtained as a result of its activities under this Agreement or under the Amended Agreement and which are
then in Desert Hawk’s possession or control, and (ii) upon Clifton’s request and at Clifton’s expense, provide
Clifton with copies of any portion of the geological and geophysical data and maps including interpretive data, logs of drill holes,
and results of assaying and sampling designated by Clifton.

 

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11.3 Upon
the surrender or other termination of this Agreement, Desert Hawk shall, within 60 days after termination, (i) return to Clifton
all drill core and original data delivered by Clifton to Desert Hawk which are then in Desert Hawk’s possession or control,
and (ii) make available for inspection by Clifton all factual geological and geophysical data and maps including interpretive data,
logs of drill holes, and results of assaying and sampling pertaining to the Leased Premises which Desert Hawk has obtained as a
result of its activities under this Agreement or under the Amended Agreement and which are then in Desert Hawk’s possession
or control. Upon Clifton’s request made within 60 days after termination of this Agreement, Desert Hawk shall, at Clifton’s
expense, provide Clifton with the drill core designated by Clifton and with copies of any portion of the geological and geophysical
data and maps including interpretive data, logs of drill holes, and results of assaying and sampling designated by Clifton.

 

11.4 Desert
Hawk makes no representation or warranty as to the accuracy or completeness of any data or information provided pursuant to this
Article 11, and shall not be liable on account of any use by Clifton or any other person of any such data or information. Desert
Hawk shall not be liable for the loss or destruction of any drill core.

 

Article XII

CONFIDENTIALITY

 

12.1 Except
for joint release of information, for so long as this Agreement remains in effect, all information obtained by Clifton or Woodman
or their authorized representatives from Desert Hawk arising out of Desert Hawk’s activities on the Leased Premises pursuant
to this Agreement shall be kept strictly confidential by Lessors and shall not be released to any third person except upon the
prior written consent of Desert Hawk, unless such release is required upon the advice of counsel to comply with law, with the rules
of any stock exchange upon which the shares of Clifton are traded, or with the regulations of any securities commission by which
the shares of Clifton are regulated, and except with respect to information that is or becomes generally available to the public
through no fault of Lessors.

 

Article XIII

GENERAL PROVISIONS

 

13.1 Notices.
All notices, payments and other required communications (“Notices”) to the Parties shall be in writing, and
shall be addressed respectively as follows:

 

If to Clifton and/or Woodman:

 

Clifton Mining Company and/or The
Woodman Mining Company

705 East 50 South

American Fork, UT 84003

 

If to Desert Hawk:

 

Desert Hawk Gold Corp.

1290 Holcomb
Avenue

Reno, NV 89502

 

All Notices and other required communications
to the Leasehold Mortgagee shall be in writing and shall be addressed as follows:

 

Pandion
Mine Finance, LP

437 Madison
Avenue

New York,
NY 10022

 

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All Notices shall be given (i) by personal
delivery, or (ii) by registered or certified mail return receipt requested. All Notices shall be effective and shall be deemed
delivered (i) if by personal delivery on the date of delivery if delivered during normal business hours, and, if not delivered
during normal business hours, on the next business day following delivery, and (ii) if by mail on the next business day after actual
receipt. A Party may change its address by Notice to the other Parties. Any Notice of a change of address of the Leasehold Mortgagee
shall be given by Desert Hawk to Lessors. Notwithstanding any other provision of this Agreement, Lessors shall be under no obligation
to give any Notice of any kind to any Leasehold Mortgagee except for the Leasehold Mortgagee specified in this Section 13.1, and
Lessors shall be entitled to use the Leasehold Mortgagee address specified in this Section 13.1 unless and until Lessors are properly
notified by Desert Hawk of a change of address for the Leasehold Mortgagee.

 

13.2 Waiver.
The failure of a Party to insist on the strict performance of any provision of this Agreement or to exercise any right, power or
remedy upon a breach hereof shall not constitute a waiver of any provision of this Agreement or limit the Party’s right thereafter
to enforce any provision or exercise any right.

 

13.3 Relationship
of Parties. Nothing contained in this Agreement shall be deemed to constitute any Party, in its capacity as such, the partner,
agent or legal representative of any other Party, or to create any partnership, mining partnership or other partnership relationship,
or fiduciary relationship between them, for any purpose whatsoever.

 

13.4 Modification.
So long as any mortgage of the Leasehold Mortgagee remains in effect, this Agreement shall not be modified, and Lessors shall not
accept a surrender of any of the Leased Premises or a termination or release of this Agreement, without the prior written consent
of the Leasehold Mortgagee, which consent shall not be unreasonably withheld or delayed.

 

13.5 Attorneys’
Fees. If legal action is instituted by any Party to enforce the terms of this Agreement or to recover damages for the breach
of any of the provisions of this Agreement, the prevailing Party or Parties shall be entitled to receive from the other Party or
Parties reasonable attorneys’ fees to be determined by the court in which the action is brought.

 

13.6 Termination
and Surrender.

 

		(a)	If Desert Hawk fails to comply with the provisions of this Agreement and if Desert Hawk fails to
correct the default within 60 days (but only 30 days in the case of a failure to make a required monetary payment) after written
notice has been given to Desert Hawk and the Leasehold Mortgagee by Lessors specifying with reasonable particularity the nature
of the default (or, if the default is something other than a monetary payment obligation and cannot reasonably be cured within
60 days, if Desert Hawk does not initiate and diligently pursue steps to cure the default within said 60-day period), then upon
the expiration of the 30-day or 60-day period, as the case may be, all rights of Desert Hawk under this Agreement shall terminate,
except that Desert Hawk shall have the rights provided in subparagraph (d) of this Section. Any default claimed with respect to
the payment of money may be cured by the deposit in escrow of the amount in controversy (not including claimed consequential, special,
exemplary or punitive damages) and giving of notice of the deposit to Lessors, the amount to remain in escrow until the controversy
is resolved by decision of a court or otherwise. If Desert Hawk by Notice to Lessors within said 30-day or 60-day period disputes
the existence of a default, then this Agreement shall not terminate unless Desert Hawk does not correct the default within 30 or
60 days, as the case may be, after the existence of a default has been determined by the final and non-appealable decision of a
court of competent jurisdiction or otherwise (or if the default is something other than a monetary payment obligation and cannot
reasonably be cured within 60 days, if Desert Hawk does not initiate and diligently pursue steps to cure the default within said
60-day period).

 

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		(b)	Subject to the right of Lessors to terminate this Agreement as provided in the foregoing subparagraph
(a), controversy between the Parties to this Agreement shall not interrupt operations under this Agreement. In the event of any
controversy, Desert Hawk may continue operations under this Agreement and shall make the payments provided for in this Agreement
notwithstanding the existence of the controversy. Upon the resolution of the controversy, such payments or restitutions shall be
made as required by the terms of the decision of the court or otherwise.

 

		(c)	Desert Hawk may at any time after proper reclamation of all of the Leased Premises affected by
Desert Hawk’s operations (or that part of the Leased Premises affected by Desert Hawk’s operations that it wishes to
surrender, as applicable) terminate this Agreement (as to all or any part of the Leased Premises) by delivering to Lessors or by
recording with the Tooele County Recorder (with a copy to Lessors) a good and sufficient release of this Agreement (or a partial
release describing that portion of the Leased Premises as to which this Agreement is released). Upon recording or mailing to Lessors
the release (or partial release), all rights, liabilities and obligations of Desert Hawk under this Agreement (with respect to
the portion of the Leased Premises as to which this Agreement is terminated) shall terminate, except (1) those liabilities and
obligations (such as warranties, indemnifications, royalty payments, auditing rights and reclamation responsibilities) that have
accrued prior to termination, and (2) unless Desert Hawk’s termination occurs on or before July 1 of the year, Desert Hawk
shall nonetheless be required to make the BLM Maintenance Fees payment and filing as provided herein for the following assessment
year, as well as the related Tooele County recording for such following assessment year.

 

		(d)	Prior to any termination of this Agreement by Desert Hawk, or upon any termination of this Agreement
by Lessors, in each case subject to the terms and conditions of this Agreement, Desert Hawk shall have a reasonable period of time
(not to exceed one year) in which to enter onto and remove from the Leased Premises all of its machinery, buildings, structures,
facilities, equipment, stockpiled ore (subject to the payment of royalties therefor as provided for in this Agreement) and other
property of every nature and description erected, placed or situated thereon, except foundations of a permanent nature, supports,
track and pipe placed in shafts, drifts or openings in the Leased Premises so long as such remaining structures are left in a condition
that is safe, nontoxic and in compliance with all applicable federal, state and local laws, regulations, ordinances and codes governing
reclamation of mined lands. In no way shall the language of this paragraph be construed to mean that Lessors have accepted as an
appurtenance to the Leased Premises, or have allowed Desert Hawk or its agents to leave on the Leased Premises, any structures,
waste, shafts, tunnels, excavations or equipment that were created or placed on the Leased Premises or used in conjunction with
Desert Hawk’s business or operations on the Leased Premises, that have not been properly reclaimed and released from any
further reclamation obligations by the proper federal, state and local agencies having authority to do so. At the conclusion of
such reclamation, Desert Hawk shall give Lessors written notice of such conclusion and Lessors shall thereafter have 180 days in
which to inspect the Leased Premises and any property that remains on the Leased Premises. At that time Lessors shall determine
if they wish to accept title to such remaining property or equipment. If Lessors do accept title to any remaining property or equipment
then Desert Hawk, or any other person entitled to do so, shall convey title to that property or equipment through a properly acknowledged
instrument of transfer. Remaining property not accepted by and transferred to Lessors shall be removed at Desert Hawk’s expense
or reclaimed in accordance with all applicable federal, state and local laws, regulations, ordinances and codes at Desert Hawk’s
expense.

 

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13.7 Notice
of Default; Opportunity to Cure. As a precondition to exercising any rights or remedies for any alleged default under this
Agreement, Lessors shall give written notice of the default to the Leasehold Mortgagee concurrently with delivery of such notice
to Desert Hawk, specifying in reasonable detail the alleged default and the required remedy. In the event Lessors give any such
notice, the following provisions shall apply:

 

		(a)	The Leasehold Mortgagee shall have the same concurrent period of time after receipt of the default
notice as is given to Desert Hawk in Section 13.6(a) to remedy or cause to be remedied the default plus, in each instance, (i)
an additional 10 days after the expiry of the cure period applicable to Desert Hawk in the event of any monetary default (meaning
any failure to pay when due any rent, real property taxes, insurance premiums or other monetary obligation of any kind under this
Agreement), and (ii) an additional 30 days after the expiry of the cure period applicable to Desert Hawk in the event of any other
type of default, provided that such 30-day period shall be extended for the time reasonably required to complete such cure, including
the time required for the Leasehold Mortgagee to perfect its right to cure such default by obtaining possession of the Leased Premises
(including possession by a receiver) or by instituting foreclosure proceedings, provided the Leasehold Mortgagee acts with reasonable
and continuous diligence. The Leasehold Mortgagee shall have the absolute right to do any act or thing required to be performed
by Desert Hawk under this Agreement, and any such act or thing performed by the Leasehold Mortgagee shall be as effective to prevent
a termination under this Agreement and/or a forfeiture of any rights under this Agreement as if done by Desert Hawk itself.

 

		(b)	During any period of possession of the Leased Premises by the Leasehold Mortgagee (or a receiver
requested by the Leasehold Mortgagee) and/or during the pendency of any foreclosure proceedings instituted by the Leasehold Mortgagee,
the Leasehold Mortgagee shall pay or cause to be paid the rent and all other monetary charges payable by Desert Hawk that have
accrued and are unpaid at the commencement of such period and those that accrue thereafter during such period. Following acquisition
of Desert Hawk’s leasehold estate by the Leasehold Mortgagee or its assignee or designee as a result of foreclosure or assignment
in lieu of foreclosure, or by a purchaser at a foreclosure sale, this Agreement shall continue in full force and effect and the
Leasehold Mortgagee or other party acquiring title to the leasehold estate shall, to the extent not already cured, as promptly
as reasonably possible, commence the cure of all other defaults hereunder and thereafter diligently process such cure to completion,
whereupon Lessors’ right to terminate this Agreement based upon such defaults shall be deemed waived; provided, however,
the Leasehold Mortgagee or other party acquiring title to the leasehold estate shall not be required to cure those non-monetary
defaults which are not reasonably susceptible of being cured or performed by such party (“Non-Curable Defaults”).
Non-Curable Defaults shall be deemed waived by Lessors upon completion of foreclosure proceedings or acquisition of Desert Hawk’s
interest in this Agreement by such party.

 

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		(c)	Upon the sale or other transfer of the leasehold interest acquired pursuant to foreclosure or assignment
in lieu of foreclosure and the assumption by the transferee of Desert Hawk’s obligations under this Agreement, the Leasehold
Mortgagee or other acquiring party shall have no further duties or obligations hereunder.

 

		(d)	If this Agreement terminates as a result of any default, foreclosure or assignment in lieu of foreclosure,
or bankruptcy, insolvency or appointment of a receiver in bankruptcy, Lessors shall give prompt written notice to the Leasehold
Mortgagee. Lessors shall, upon written request of the Leasehold Mortgagee that is made within 30 days after notice to the Leasehold
Mortgagee, enter into a new lease of the Leased Premises with the Leasehold Mortgagee, or its designee, within 30 days after the
receipt of such request. Such new lease shall be effective as of the date of the termination of this Agreement, and shall be upon
the same terms, covenants, conditions and agreements as contained in this Agreement. Upon the execution of any such new lease,
the Leasehold Mortgagee shall (i) pay Lessors any amounts which are due Lessors from Desert Hawk, (ii) pay Lessors any and all
amounts which would have been due under this Agreement (had this Agreement not been terminated) from the date of termination to
the date of the new lease, (iii) perform all other obligations of Desert Hawk under the terms of this Agreement, to the extent
performance is then due and is susceptible of being cured and performed by the Leasehold Mortgagee; and (iv) agree in writing to
perform, or cause to be performed, all obligations which have not been performed by Desert Hawk that would have accrued under this
Agreement up to the date of commencement of the new lease, except those obligations, if any, which constitute Non-Curable Defaults.
Any new lease granted to the Leasehold Mortgagee shall enjoy the same priority as this Agreement over any lien, encumbrance or
other interest created by Lessors. The provisions of this Section shall survive termination of this Agreement and shall continue
in effect thereafter and, from the effective date of termination to the date of execution and delivery of such new lease, the Leasehold
Mortgagee may use and enjoy the Leased Premises without hindrance by Lessors or any person claiming by, through or under Lessors,
provided that all of the conditions for a new lease as set forth in this Section are satisfied.

 

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13.8 Force
Majeure. Except for the obligation to make payments when due hereunder, the obligations of a Party shall be suspended to the
extent and for the period that such Party’s performance under this Agreement is prevented by any cause, whether foreseeable
or unforeseeable, beyond its reasonable control, including labor disputes (however arising and whether or not employee demands
are reasonable or within the power of the Party to grant); acts of God; laws, regulations, orders, proclamations, instructions
or requests of any government or governmental entity; judgments or orders of any court; curtailment or suspension of activities
to remedy or avoid an actual or alleged, present or prospective violation of federal, state, or local environmental standards;
acts of war or conditions arising out of or attributable to war, whether declared or undeclared; riot, civil strife, insurrection,
rebellion or terrorism; and fire, explosion, earthquake, storm, flood, sink holes, drought or other adverse weather condition,
but not inability to meet financial commitments, lack of a market for Products, inability to obtain or delays in obtaining financing,
and inability to obtain or delays in obtaining necessary governmental approvals or permits. The affected Party shall promptly give
written notice to the other Parties of the suspension of performance, stating therein the commencement date of the suspension,
the nature of the suspension, the reasons therefor, and the expected duration thereof. If, but only if, such notice is given, the
time for discharging the affected Party’s obligations with respect to the prevented performance shall be extended for the
period of force majeure, but the affected Party shall be obligated to use commercially reasonable efforts to eliminate such circumstances
as quickly as possible.

 

13.9 Governing
Law, Jurisdiction and Venue. This Agreement shall be construed, interpreted and governed by the laws of the State of Utah (where
the Leased Premises are located) without regard for choice of laws or conflict of laws principles that would require or permit
the application of the laws of any other jurisdiction. Each of the Parties, on behalf of themselves and their successors, irrevocably
consents to the exclusive jurisdiction of the courts of the state of Utah or the federal district court for the District of Utah,
as may be applicable, in respect of any disputes arising hereunder, with venue to be in Salt Lake County, Utah.

 

13.10 Further
Assurances; No Merger. Each of the Parties agrees to take from time to time such actions and execute such additional instruments
as may be reasonably necessary or convenient to implement and carry out the intent and purpose of this Agreement. If this Agreement
and the fee estate in the Leased Premises are ever commonly held, then they shall remain separate and distinct estates and shall
not merge without consent by the Leasehold Mortgagee.

 

13.11 Exhibits.
All Exhibits attached to this Agreement shall be deemed part of this Agreement and incorporated herein, where applicable, as if
fully set forth herein.

 

13.12 Entire
Agreement and Successors and Assigns. This Agreement contains the entire understanding of the Parties and supersedes all prior
agreements and understandings among the Parties relating to the subject matter hereof, including the Original Agreement and the
Amended Agreement. This Agreement shall be binding upon and inure to the benefit of the respective successors and permitted assigns
of the Parties. In the event of any conflict between this Agreement and any Exhibit attached hereto, the terms of this Agreement
shall be controlling.

 

13.13 Execution.
This Agreement may be executed by the Parties in counterparts, which taken together shall constitute a single and complete document.
This Agreement, once executed, may be delivered by facsimile, email (PDF) or other electronic means, and in such event shall be
deemed the equivalent of an agreement with original signatures.

 

    21

     

    

 

13.14 Severability.
If any provision of this Agreement is for any reason and to any extent determined by a court of competent jurisdiction to be invalid
or unenforceable, the remainder of this Agreement will be interpreted so as best to reasonably effect the intent of the Parties.
The Parties agree to use their best efforts to replace such void or unenforceable provision of this Agreement with a valid and
enforceable provision which is mutually agreeable so as to achieve, to the greatest extent possible, the economic, business and
other purposes of the void or unenforceable provision.

 

13.15 Assignment.
Desert Hawk may not assign, sublease or otherwise transfer its interest in this Agreement without Clifton’s prior written
consent (as to that portion of the Leased Premises owned by Clifton) and Woodman’s prior written consent (as to that portion
of the Leased Premises owned by Woodman) in each instance, which consents shall not be unreasonably withheld. This paragraph shall
not prevent Desert Hawk from, without Lessors’ consent, mortgaging or otherwise pledging this Agreement for financing purposes
in accordance with Section 4.3(g) to the Leasehold Mortgagee. The Leasehold Mortgagee (and anyone whose title derives directly
or indirectly from the Leasehold Mortgagee, including a purchaser at any foreclosure sale held under a leasehold mortgage) may,
without Lessors’ consent, hold a foreclosure sale, take title to Desert Hawk’s interest under this Agreement, and transfer
or assign Desert Hawk’s interest under this Agreement to an entity that has the financial capacity to perform Desert Hawk’s
obligations under this Agreement, either in its own name or through a nominee; provided, however, that any transfer or assignment
of this Agreement by any party that is not the Leasehold Mortgagee or an affiliate of the Leasehold Mortgagee shall be subject
to the first sentence of this Section 13.15. No assignment, sublease or transfer shall be effective against Lessors until Lessors
receive written notice of the transfer in accordance with Section 13.1.

 

13.16 Recording.
This Agreement shall not be recorded, but the Notice of Agreement shall be recorded with the Tooele County Recorder by Desert Hawk
at its expense immediately after the Closing Date, and a copy of the as-recorded Notice of Agreement shall be delivered to Lessors
immediately after such recording. In the event of any inconsistency between the terms and provisions of this Agreement and those
contained in the Notice of Agreement, the terms and provisions of this Agreement shall control. The execution and recording of
the Notice of Agreement shall not limit, increase or in any manner affect any of the terms of this Agreement, or any rights, interests
or obligations of the Parties. Lessors hereby consent to the recordation of the interest of the Leasehold Mortgagee or permitted
assignee of Desert Hawk’s interest in this Agreement.

 

13.17 Priority
of Mortgages. Any mortgage on the Leased Premises entered into by Lessors after the Closing Date (a “Lessor Mortgage”)
shall be subject and subordinate to this Agreement. Lessors shall not enter into any Lessor Mortgage that violates the preceding
sentence. Desert Hawk shall not subordinate this Agreement to any Lessor Mortgage without consent by the Leasehold Mortgagee.

 

13.18 Estoppel
Certificates. Lessors shall, upon reasonable request by Desert Hawk and provided that Desert Hawk is not in breach of any provision
of this Agreement, certify in writing that this Agreement is in full force and effect, whether this Agreement has been amended,
that to Lessors’ knowledge Desert Hawk is not in default under this Agreement, and the date through which Desert Hawk’s
financial obligations hereunder have been paid. Such requests by Desert Hawk shall be made only at reasonable intervals of time.

 

13.19 Elimination
of Leasehold Mortgagee Provisions. Notwithstanding any other provision of this Agreement, at such time as the mortgage held
at the Closing Date by the Leasehold Mortgagee (or its documented successor in interest) has been fully satisfied, all provisions
of this Agreement concerning the Leasehold Mortgagee shall automatically become inapplicable and ineffective.

 

13.20 Effect
of Agreement. This Agreement shall supersede the Amended Agreement from and after the Closing Date.

 

[Remainder of page left intentionally
blank]

 

    22

     

    

 

IN WITNESS WHEREOF,
the Parties have executed this Agreement on the dates set forth below, but effective as of the date first set forth above.

 

		 	Clifton:

 

	 	Clifton Mining Company, a Utah corporation
	 	 	 
	 	By 	/s/ Kenneth Friedman
	 	 	Kenneth Friedman, President
	 	 	 
	 	Date 	7 February 2019

 

		 	Woodman:

 

	 	The Woodman Mining Company, a Utah corporation
	 	 	 
	 	By 	/s/ Keith Moeller
	 	 	Keith Moeller, Vice President
	 	 	 
	 	Date 	7 February 2019

 

		 	Desert Hawk:

 

	 	Desert Hawk Gold Corp., a Nevada corporation
	 	 	 
	 	By	/s/ Howard Crosby
	 	 	Howard Crosby, Executive Chairman
	 	 	 
	 	Date	February 6, 2019

 

    23

     

    

 

EXHIBIT A

IMM ROYALTY PROPERTY

 

The following 82 unpatented mining claims
located within Sections 7, 17, 18, 19, 20, 29, 30 and 31, T8S, R17W, and Sections 1, 12, 13 and 24, T8S, R18W, SLM, Tooele County,
Utah:

 

	Claim Name	 	BLM Serial Number
	 	 	 
	Centennial Fraction	 	UMC317838
	Clifton #7	 	UMC317850
	Clifton #20	 	UMC317863
	Glenda #1	 	UMC317840
	Glenda #2	 	UMC317841
	Glenda #3	 	UMC317842
	Glenda #4	 	UMC317843
	Glenda #5	 	UMC317844
	Glenda #6	 	UMC317845
	IP #6	 	UMC317901
	IP #7A	 	UMC317903
	IP #8	 	UMC317904
	IP #9	 	UMC317905
	IP #10	 	UMC317906
	IP #11	 	UMC317907
	IP #12	 	UMC317908
	IP #13	 	UMC317909
	IP #14A	 	UMC317911
	IP #14B	 	UMC317912
	IP #15	 	UMC317913
	IP #15B	 	UMC317914
	IP #18	 	UMC317915
	IP #19	 	UMC317916
	IP #20	 	UMC317917
	IP #20A	 	UMC317918
	IP #21	 	UMC317919
	IP #22	 	UMC317920
	IP #22A	 	UMC317921
	IP #23	 	UMC317922
	IP #24	 	UMC317923
	IP #25	 	UMC317924
	IP #26	 	UMC317925
	IP #27	 	UMC317926
	IP #28	 	UMC317927
	IP #29	 	UMC317928
	IP #30	 	UMC317929
	IP #31	 	UMC317930
	IP #32	 	UMC317931
	IP #33	 	UMC317932
	IP #34	 	UMC317933
	IP #35	 	UMC317934

 

    24

     

    

 

	Claim Name	 	BLM Serial Number
	 	 	 
	IP #39	 	UMC317936
	IP #40	 	UMC317937
	IP #41	 	UMC317938
	IP #43	 	UMC317940
	IP #45	 	UMC317942
	IP #47A	 	UMC317945
	IP #53	 	UMC317948
	IP #54	 	UMC317949
	Pearl #5	 	UMC317954
	Pearl #177	 	UMC317977
	Pearl #178	 	UMC317978
	Pearl #209	 	UMC317999
	Pearl #211	 	UMC318001
	Pearl #222	 	UMC318009
	Pearl #222A	 	UMC318010
	Pearl #268	 	UMC318033
	Pearl #269	 	UMC318034
	Pearl #270	 	UMC318035
	Pearl #275	 	UMC318036
	Pearl #276	 	UMC318037
	Pearl #294	 	UMC318048
	Pearl #295	 	UMC318049
	Pearl #296	 	UMC318050
	Pearl #301	 	UMC318051
	Pearl #302	 	UMC318052
	Pearl #333	 	UMC318065
	Pearl #333A	 	UMC318066
	Pearl #334	 	UMC318067
	Pearl #334A	 	UMC318068
	Pearl #335	 	UMC318069
	Pearl #353	 	UMC318075
	Pearl #354	 	UMC318076
	Pearl #355	 	UMC318077
	Pearl #356	 	UMC318078
	Pearl #357	 	UMC318079
	Pearl #365	 	UMC318080
	Pearl #366	 	UMC318081
	Pearl #367	 	UMC318082
	Pearl #438A	 	UMC318104
	Tower #1	 	UMC317846
	Tower #2	 	UMC317847

 

[End]

 

    25

     

    

 

EXHIBIT B

DUMONT ROYALTY PROPERTY

 

Patented Mining Claims (4)

 

The following four patented mining claims
located within Section 35, T7S, R18W, and Section 2, T8S, R18W, SLM, Tooele County, Utah:

 

	Claim Name	 	Lot or Mineral
 Survey Number

	 	 	 
	Cane Springs	 	Lot 50
	Cane Springs No. 2	 	MS 4387
	Imperial	 	MS 4388
	Newton Albert	 	Lot 51A

 

Patented Millsite Claim (1)

 

The following patented millsite claim located
within Sections 35 and 36, T7S, R18W, and Sections 1 and 2, T8S, R18W, SLM, Tooele County, Utah:

 

	Claim Name	 	Lot Number
	 	 	 
	Newton Albert	 	Lot 51B

 

Unpatented Mining Claims (21)

 

The following 21 unpatented mining claims
located within Sections 17, 18, 19 and 20, T8S, R17W, SLM, Tooele County, Utah:

 

	Claim Name	 	BLM Serial Number
	 	 	 
	IP #14A	 	UMC317911
	IP #18	 	UMC317915
	IP #19	 	UMC317916
	IP #20	 	UMC317917
	IP #20A	 	UMC317918
	IP #21	 	UMC317919
	IP #22	 	UMC317920
	IP #22A	 	UMC317921
	IP #23	 	UMC317922
	IP #32	 	UMC317931
	IP #33	 	UMC317932
	IP #34	 	UMC317933
	IP #35	 	UMC317934
	IP #53	 	UMC317948
	IP #54	 	UMC317949
	Pearl #268	 	UMC318033
	Pearl #269	 	UMC318034
	Pearl #270	 	UMC318035
	Pearl #294	 	UMC318048
	Pearl #295	 	UMC318049
	Pearl #296	 	UMC318050

 

State Mineral Lease (1)

 

That portion (and only that portion) of
Utah State Lease for Metalliferous Minerals number ML 53279-OBA (dated May 1, 2016) covering the 532.77 acres of state-owned land
in Section 2, T8S, R18W, SLM, Tooele County, Utah (previously ML 47181 dated August 14, 1992).

 

[End]

 

    26

     

    

 

EXHIBIT C

LEASED PREMISES

 

Patented Mining Claims (10)

 

The indicated portions of the following
10 patented mining claims located within Sections 18, 19 and 30, T8S, R17W, and Sections 24 and 25, T8S, R18W, SLM, Tooele County,
Utah:

 

	Claim Name	 	Lot or Mineral 
Survey Number	 	Portion
	Atlantis	 	Lot 44	 	Surface estate only
	Columbia	 	Lot 43	 	Surface estate only
	Elephant	 	Lot 65	 	Surface estate only, and only that part of the claim inside the black-dashed area on the map attached hereto as Exhibit C-1
	Fleet Wing	 	Lot 42	 	Surface estate only
	Iron	 	Lot 46	 	Surface estate only
	Juniper	 	Lot 57	 	Surface estate only
	Neptune	 	Lot 40	 	Surface estate only, and only that part of the claim inside the black-dashed area on the map attached hereto as Exhibit C-1
	New Baltimore	 	MS 4389	 	All
	Paymaster No. 2	 	Lot 55	 	Surface estate only
	Sunshine	 	Lot 67	 	Surface estate only, and only that part of the claim inside the black-dashed area on the map attached hereto as Exhibit C-1

 

Unpatented Mining Claims (66)

 

The indicated portions of the following
66 unpatented mining claims located within Sections 17, 18, 19, 20, 25 and 30, T8S, R17W, and Section 25, T8S, R18W, SLM, Tooele
County, Utah:

 

	Claim Name	 	BLM Serial No.	 	Portion
	Clifton #7	 	UMC317850	 	Surface estate only, and only that part of the claim inside the black-dashed area on the map attached hereto as Exhibit C-1
	Clifton #8	 	UMC317851	 	Surface estate only, and only that part of the claim inside the black-dashed area on the map attached hereto as Exhibit C-1
	Clifton #10	 	UMC317853	 	Surface estate only
	Clifton #11	 	UMC317854	 	Surface estate only
	Clifton #15	 	UMC317858	 	Surface estate only, and only that part of the claim inside the black-dashed area on the map attached hereto as Exhibit C-1
	Clifton #17	 	UMC317860	 	Surface estate only, and only that part of the claim inside the black-dashed area on the map attached hereto as Exhibit C-1
	Clifton #18	 	UMC317861	 	Surface estate only, and only that part of the claim inside the black-dashed area on the map attached hereto as Exhibit C-1
	IP 6	 	UMC317901	 	Surface estate only, and only that part of the claim inside the black-dashed area on the map attached hereto as Exhibit C-1
	IP 14	 	UMC369142	 	All
	IP 14A	 	UMC317911	 	Surface estate only
	IP 15	 	UMC317913	 	Surface estate only
	IP 18	 	UMC317915	 	All

 

    27

     

    

 

	Claim Name	 	BLM Serial No.	 	Portion
	IP 19	 	UMC317916	 	Surface estate only
	IP 20	 	UMC317917	 	All
	IP 20A	 	UMC317918	 	All
	IP 21	 	UMC317919	 	Surface estate only
	IP 22	 	UMC317920	 	All
	IP 22A	 	UMC317921	 	All
	IP 23	 	UMC317922	 	All
	IP 24	 	UMC317923	 	All
	IP 25	 	UMC317924	 	All
	IP 26	 	UMC317925	 	All
	IP 27	 	UMC317926	 	All
	IP 29	 	UMC317928	 	All
	IP 30	 	UMC317929	 	All
	IP 31	 	UMC317930	 	All
	IP 32	 	UMC317931	 	All
	IP 33	 	UMC317932	 	All
	IP 34	 	UMC317933	 	All
	IP 35	 	UMC317934	 	All
	IP 50	 	UMC369143	 	All
	IP 51	 	UMC369144	 	All
	IP 53	 	UMC317948	 	Surface estate only
	IP 54	 	UMC317949	 	All
	Pearl 215	 	UMC369187	 	All
	Pearl 216	 	UMC369188	 	All
	Pearl 218	 	UMC369189	 	All
	Pearl 219	 	UMC369190	 	All
	Pearl 220	 	UMC369191	 	All
	Pearl 222	 	UMC318009	 	All
	Pearl 222A	 	UMC318010	 	All
	Pearl 241	 	UMC369203	 	All
	Pearl 242	 	UMC369204	 	All
	Pearl 243	 	UMC369205	 	All
	Pearl 244	 	UMC369206	 	All
	Pearl 245	 	UMC369207	 	All
	Pearl 246	 	UMC369208	 	All
	Pearl 266	 	UMC371747	 	All
	Pearl 267	 	UMC371748	 	All
	Pearl 268	 	UMC318033	 	All
	Pearl 269	 	UMC318034	 	All
	Pearl 270	 	UMC318035	 	All
	Pearl 275	 	UMC318036	 	All
	Pearl 276	 	UMC318037	 	All
	Pearl 292	 	UMC369217	 	All
	Pearl 293	 	UMC369218	 	All
	Pearl 294	 	UMC318048	 	All
	Pearl 295	 	UMC318049	 	All
	Pearl 296	 	UMC318050	 	All
	Pearl 322A	 	UMC369222	 	Surface estate only
	Pearl 325	 	UMC371749	 	Surface estate only
	Pearl 325A	 	UMC369225	 	All
	Pearl 354	 	UMC318076	 	Surface estate only
	Pearl 355	 	UMC318077	 	Surface estate only
	Pearl 356	 	UMC318078	 	Surface estate only
	Pearl 357	 	UMC318079	 	Surface estate only

 

    28

     

    

 

EXHIBIT C-1

 

 

    29

     

    

 

EXHIBIT D

POTENTIAL ENCUMBRANCES

 

In accordance with Section 4.2(a), and
without conceding the existence, validity or applicability of such liens and encumbrances, the Parties acknowledge that the following
liens and encumbrances (collectively, the “Potential Encumbrances”) may exist with respect to some or all of
the Leased Premises:

 

1. Rights
and interests of International Minerals and Metals, Inc. and/or Inter Alia Holding Company (as to item (b) only) under and pursuant
to (a) the Mortgage Agreement dated March 17, 1983 between American Consolidated Mining Corporation and International Minerals
and Metals, Inc. recorded in Book 209 at Page 705 of the Tooele County records; (b) Mortgage Agreement dated June 24, 1986 between
American Consolidated Mining Company, International Minerals & Metals, Inc., Inter Alia Holding Company and RIHT Capital Corporation,
recorded in Book 244 at Page 352 of the Tooele County records; and (c) Confirmation of Mortgage Agreements and Grant of Additional
Mortgage dated October 18, 1995 from American Consolidated Mining Company and Clifton Mining Company in favor of International
Minerals and Metals, Inc., recorded in Book 406 at Page 752 of the Tooele County records.

 

[End]

 

    30

     

    

 

EXHIBIT E

REGISTRATION AGREEMENT

 

    31

     

    

 

EXHIBIT F

ROYALTY

 

In furtherance to Section 6.5, the following
provisions shall apply to the Royalty during the period, if any, that the Royalty is payable by Desert Hawk:

 

The Royalty is characterized by payments
that are a fixed percentage of the net revenue, after certain deductions, received from the sale of Products to a smelter, refinery
or other purchaser. More specifically, it is the amount of money that the smelter, refinery or other purchaser pays Desert Hawk
for the Products, with deductions for (but only for) the costs or penalties imposed by the smelter or refinery. For the avoidance
of doubt, there shall be no deduction of mining costs, ore transportation costs, ore processing costs, or any other mining or processing
cost.

 

Should the Products be sold to an Affiliate
of Desert Hawk rather than to an independent third party, they shall be deemed sold by Desert Hawk at the time of delivery to the
Affiliate, and the Royalty shall mean an amount equal to that which would have been received by Desert Hawk from a bona fide third
party purchaser in an arm’s length transaction for an identical product. Similarly, if the smelting or refining is done by
an Affiliate of Desert Hawk, any smelting and refining deductions shall be an amount equal to that which would have been charged
to a bona fide third party seller in an arm’s length transaction for an identical product.

 

Payments of the Royalty shall be made to
Clifton (on behalf of Lessors) immediately upon Desert Hawk’s receipt of revenues for the Products sold. Whenever possible,
Desert Hawk shall cause the smelter, refiner or other purchaser to issue the Royalty payment directly to Clifton at the same time
as the balance of revenues is issued to Desert Hawk. If that arrangement is not possible, Desert Hawk shall tender the Royalty
payment to Clifton prior to any other use of the sale proceeds by Desert Hawk and in any event by no later than ten (10) business
days after Desert Hawk receives payment from the smelter, refiner or other purchaser. All Royalty payments to Clifton (whether
from the smelter, refiner or other purchaser or from Desert Hawk) shall be accompanied by written documentation showing the amount
of production, the sale date, the sale price and the calculation of Clifton’s Royalty payment, as well as such other information
and documentation as Clifton may reasonably request from time to time.

 

All Royalty payments shall be tendered
to Clifton or its assign in accordance with Section 13.1 (excluding required copies as provided in said Section 13.1).

 

Desert Hawk shall at all times production
is occurring upon the Leased Premises accurately weigh, measure and sample, in accordance with customary industry practices for
metal mines, all Products to the end that accurate and complete records and reports are made and retained to ascertain the quantity
of ores and minerals recovered and removed from the Leased Premises.

 

For the duration of this Agreement and
for a period of at least three years thereafter, Desert Hawk shall keep, at a location within the United States, accurate records
of data necessary for the computation of the Royalty. Clifton or its designated representatives, upon notice in writing to Desert
Hawk and at Clifton’s expense, shall have the right to audit Desert Hawk’s accounts and records relating to the payment
of the Royalty from time to time but no more often than every six months. All audits shall be conducted by Clifton at the office
of Desert Hawk where the relevant books and records are maintained and such audit shall be conducted during normal business hours.

 

Clifton may, at times reasonably convenient
to Desert Hawk at reasonable intervals and at Clifton’s expense, have a representative present at any stage when Products
are mined, handled, commingled, stored, treated, weighed, sampled, assayed or otherwise processed, and shall upon request be furnished
with a representative part of any sample taken.

 

The right to receive the Royalty from Desert
Hawk and its permitted successors as and when due is and shall be deemed to be a covenant which runs with the Leased Premises irrespective
of any change in ownership or control thereof. Clifton’s right to receive Royalty payments from Desert Hawk shall not be
deemed to constitute Clifton or Woodman the partner, agent or legal representative of Desert Hawk and shall not cause Clifton or
Woodman to be responsible for any debt, liability or obligation of Desert Hawk.

 

[End]

 

    32

     

    

 

EXHIBIT G

NOTICE OF AGREEMENT

 

AFTER RECORDING, PLEASE RETURN TO:

Desert Hawk Gold Corp.

1290 Holcomb Avenue

Reno, NV 89502

 

Notice
of Partial Lease Termination

and
Amended Agreement

 

NOTICE IS HEREBY GIVEN
by Clifton Mining Company, a Utah corporation whose address is 705 East 50 South,
American Fork, Utah 84003 (“Clifton”), The Woodman Mining Company, a
Utah corporation whose address is 705 East 50 South, American Fork, Utah 84003 (together with Clifton, the “Lessors”),
and Desert Hawk Gold Corp., a Nevada corporation whose address is 1290 Holcomb Avenue,
Reno, Nevada 89502 (“Lessee”), that:

 

1. Lessors
and Lessee (collectively, the “Parties”) entered into a Mining Venture Agreement dated as of July 24, 2009 (the “Original
Agreement”), a memorandum of which was recorded on August 11, 2009 as entry number 330699 in the records of the Tooele County
Recorder, in which Lessors granted to Lessee exclusive possession of certain patented and unpatented mining claims for exploration,
development and mining purposes, and the right to occupy, explore, develop and mine such mining claims for minerals.

 

2. The
Parties subsequently entered into an Amended and Restated Lease and Sublease Agreement dated as of July 24, 2009 (the “Amended
Agreement”), a memorandum of which was recorded on June 14, 2010 as entry number 342985 in the records of the Tooele County
Recorder, in which Lessors leased to Lessee certain patented and unpatented mining claims and subleased to Lessee certain Utah
state mineral leases, for purposes of mineral exploration, development and mining. The Amended Agreement superseded and replaced
the Original Agreement in its entirety.

 

3. On
September 9, 2013, Lessee surrendered and relinquished from the Amended Agreement certain mining claims and mineral leases, by
virtue of a Notice of Partial Lease Termination recorded on September 25, 2013 as entry number 389821 in the records of the Tooele
County Recorder.

 

4. The
Parties have entered into a Second Amended and Restated Lease Agreement dated February 7, 2019 (the “Agreement”). The
Agreement (a) terminates the Amended Agreement as to certain of the mining claims and all of the mineral leases that were initially
covered by the Amended Agreement, (b) supersedes and replaces the Amended Agreement as to the remaining mining claims that were
initially covered by the Amended Agreement, and (c) amends, restates and replaces the Amended Agreement in its entirety with the
Agreement, as set forth in the Agreement.

 

5. The
Agreement concerns the real property in Tooele County, Utah described in Exhibit 1 attached hereto and incorporated herein,
which property is referred to in the Agreement and herein as the “Leased Premises.” Under the terms of the Agreement,
Lessors have granted to Lessee the right to explore, develop and mine the Leased Premises. Lessors are entitled under the Agreement
to receive certain compensation from Lessee and to receive, under certain conditions, a royalty on the production and sale by Lessee
of any minerals from the Leased Premises. Lessee is solely obligated under the Agreement to pay certain third-party royalties on
the production and sale of any minerals from certain parts of the Leased Premises and to comply with certain agreements pertaining
to such third-party royalties.

 

    33

     

    

 

6. The
term of the Agreement is for a period of 20 years from and after February 7, 2019 and for so long thereafter as the Leased Premises
are being actively used by Lessee for commercial mining purposes, unless sooner terminated by the Parties as provided in the Agreement.

 

7. Lessee
has surrendered and relinquished to Lessors, and does hereby surrender and relinquish of record to Lessors, all of the patented
mining claims, unpatented mining claims, unpatented millsite claims and state mineral leases that were subject to the Original
Agreement and to the Amended Agreement, except for the Leased Premises (the “Relinquished Properties”). Lessee no longer
has any right, title or interest of any kind in or to any of the Relinquished Properties or any minerals or mineral products produced
therefrom.

 

8. The
Agreement allows Lessee to assign, sublease or otherwise transfer its interest in the Agreement only upon Lessors’ prior
written consent, which consent cannot be unreasonably withheld, except that Lessee may, without Lessors’ consent, mortgage
or otherwise pledge its interest in the Agreement to certain mortgagees for financing purposes in accordance with the terms of
the Agreement. No assignment, sublease or transfer shall be effective against Lessors until Lessors receive written notice of the
transfer in accordance with the terms of the Agreement.

 

9. This
document is meant to give record notice of the Agreement and of Lessee’s relinquishment of all rights, title and interests
in and to the Relinquished Properties, and to that end the Agreement is incorporated herein by reference and made a part hereof.
Copies of the Agreement are in the possession of the Parties at the addresses given in the first paragraph of this document. The
execution and recording of this document shall not limit, increase or in any manner affect any of the terms of the Agreement, or
the rights, interests or obligations of the Parties thereunder. In the event of any conflict between the terms of the Agreement
and the terms of this document, the terms of the Agreement shall control.

 

10. This
document may be executed in counterparts and all counterparts taken together shall be deemed to constitute one and the same instrument.

 

IN WITNESS WHEREOF,
the Parties have executed this document, as contemplated in Section 13.15 of the Agreement, on the dates set forth in the acknowledgements
below but effective as of the date of the Agreement.

 

[Signature page follows]

 

    34

     

    

 

	 	Lessors:
	 	 
	 	Clifton Mining Company, a Utah
	 	corporation
	 	 
	 	By	          
	 	Name	 
	 	Title	 
	 	 
	 	The Woodman Mining Company, a
	 	Utah corporation
	 	 
	 	By	 
	 	Name	 
	 	Title	 
	 	 
	 	Lessee:
	 	 
	 	Desert Hawk Gold Corp., a Nevada
	 	corporation
	 	 
	 	By	 
	 	Name	 
	 	Title	 

  

	STATE OF UTAH	)
	 	: ss.
	COUNTY OF__________________________	)

 

On this ______ day
of ________________, 2019, personally appeared before me, a Notary Public, ______________________________, the __________________
of Clifton Mining Company, a Utah corporation, who acknowledged that he or she executed
the above instrument on behalf of said corporation.

 

	[seal]	 
	 	NOTARY PUBLIC, residing in
	 	 

 

    35

     

    

 

	STATE OF UTAH	)
	 	: ss.
	COUNTY OF__________________________	)

  

On this ______ day
of _______________, 2019, personally appeared before me, a Notary Public, ______________________________, the __________________
of The Woodman Mining Company, a Utah corporation, who acknowledged that he or she
executed the above instrument on behalf of said corporation.

 

	[seal]	 
	 	NOTARY PUBLIC, residing in
	 	 

 

	STATE OF 	)
	 	: ss.
	COUNTY OF_________________________	)

 

On this ______ day
of _________________, 2019, personally appeared before me, a Notary Public, ______________________________, the __________________
of Desert Hawk Gold Corp., a Nevada corporation, who acknowledged that he or she
executed the above instrument on behalf of said corporation.

 

	[seal]	 
	 	NOTARY PUBLIC, residing in
	 	 

 

	My commission expires:	 
	 	 

  

    36

     

    

 

Exhibit 1

 

Leased Premises

 

Patented Mining Claims (10)

 

The indicated portions of the following
10 patented mining claims located within Sections 18, 19 and 30, T8S, R17W, and Sections 24 and 25, T8S, R18W, SLM, Tooele County,
Utah:

 

	Claim Name	 	
        Lot or Mineral

        Survey Number
	 	Portion
	Atlantis	 	Lot 44	 	Surface estate only
	Columbia	 	Lot 43	 	Surface estate only
	Elephant	 	Lot 65	 	Surface estate only, and only that part of the claim inside the black-dashed area on the map attached hereto as Exhibit 1-A
	Fleet Wing	 	Lot 42	 	Surface estate only
	Iron	 	Lot 46	 	Surface estate only
	Juniper	 	Lot 57	 	Surface estate only
	Neptune	 	Lot 40	 	Surface estate only, and only that part of the claim inside the black-dashed area on the map attached hereto as Exhibit 1-A
	New Baltimore	 	MS 4389	 	All
	Paymaster No. 2	 	Lot 55	 	Surface estate only
	Sunshine	 	Lot 67	 	Surface estate only, and only that part of the claim inside the black-dashed area on the map attached hereto as Exhibit 1-A

 

Unpatented Mining Claims (66)

 

The indicated portions of the following
66 unpatented mining claims located within Sections 17, 18, 19, 20, 25 and 30, T8S, R17W, and Section 25, T8S, R18W, SLM, Tooele
County, Utah:

 

	Claim Name	 	BLM Serial No.	 	Portion
	Clifton #7	 	UMC317850	 	Surface estate only, and only that part of the claim inside the black-dashed area on the map attached hereto as Exhibit 1-A
	Clifton #8	 	UMC317851	 	Surface estate only, and only that part of the claim inside the black-dashed area on the map attached hereto as Exhibit 1-A
	Clifton #10	 	UMC317853	 	Surface estate only
	Clifton #11	 	UMC317854	 	Surface estate only
	Clifton #15	 	UMC317858	 	Surface estate only, and only that part of the claim inside the black-dashed area on the map attached hereto as Exhibit 1-A
	Clifton #17	 	UMC317860	 	Surface estate only, and only that part of the claim inside the black-dashed area on the map attached hereto as Exhibit 1-A
	Clifton #18	 	UMC317861	 	Surface estate only, and only that part of the claim inside the black-dashed area on the map attached hereto as Exhibit 1-A
	IP 6	 	UMC317901	 	Surface estate only, and only that part of the claim inside the black-dashed area on the map attached hereto as Exhibit 1-A
	IP 14	 	UMC369142	 	All
	IP 14A	 	UMC317911	 	Surface estate only

 

    37

     

    

 

	Claim Name	 	BLM Serial No.	 	Portion
	IP 15	 	UMC317913	 	Surface estate only
	IP 18	 	UMC317915	 	All
	IP 19	 	UMC317916	 	Surface estate only
	IP 20	 	UMC317917	 	All
	IP 20A	 	UMC317918	 	All
	IP 21	 	UMC317919	 	Surface estate only
	IP 22	 	UMC317920	 	All
	IP 22A	 	UMC317921	 	All
	IP 23	 	UMC317922	 	All
	IP 24	 	UMC317923	 	All
	IP 25	 	UMC317924	 	All
	IP 26	 	UMC317925	 	All
	IP 27	 	UMC317926	 	All
	IP 29	 	UMC317928	 	All
	IP 30	 	UMC317929	 	All
	IP 31	 	UMC317930	 	All
	IP 32	 	UMC317931	 	All
	IP 33	 	UMC317932	 	All
	IP 34	 	UMC317933	 	All
	IP 35	 	UMC317934	 	All
	IP 50	 	UMC369143	 	All
	IP 51	 	UMC369144	 	All
	IP 53	 	UMC317948	 	Surface estate only
	IP 54	 	UMC317949	 	All
	Pearl 215	 	UMC369187	 	All
	Pearl 216	 	UMC369188	 	All
	Pearl 218	 	UMC369189	 	All
	Pearl 219	 	UMC369190	 	All
	Pearl 220	 	UMC369191	 	All
	Pearl 222	 	UMC318009	 	All
	Pearl 222A	 	UMC318010	 	All
	Pearl 241	 	UMC369203	 	All
	Pearl 242	 	UMC369204	 	All
	Pearl 243	 	UMC369205	 	All
	Pearl 244	 	UMC369206	 	All
	Pearl 245	 	UMC369207	 	All
	Pearl 246	 	UMC369208	 	All
	Pearl 266	 	UMC371747	 	All
	Pearl 267	 	UMC371748	 	All
	Pearl 268	 	UMC318033	 	All
	Pearl 269	 	UMC318034	 	All
	Pearl 270	 	UMC318035	 	All
	Pearl 275	 	UMC318036	 	All
	Pearl 276	 	UMC318037	 	All
	Pearl 292	 	UMC369217	 	All
	Pearl 293	 	UMC369218	 	All
	Pearl 294	 	UMC318048	 	All
	Pearl 295	 	UMC318049	 	All
	Pearl 296	 	UMC318050	 	All
	Pearl 322A	 	UMC369222	 	Surface estate only
	Pearl 325	 	UMC371749	 	Surface estate only
	Pearl 325A	 	UMC369225	 	All
	Pearl 354	 	UMC318076	 	Surface estate only
	Pearl 355	 	UMC318077	 	Surface estate only
	Pearl 356	 	UMC318078	 	Surface estate only
	Pearl 357	 	UMC318079	 	Surface estate only

 

    38

     

    

 

EXHIBIT 1-A

 

 

 

    39

     

    

 

EXHIBIT H

NON-COMPETE AREA

 

 

40

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