Document:

Exhibit 10.1

 

EARN-IN AGREEMENT

 

DATED EFFECTIVE

 

NOVEMBER 23, 2020

 

BETWEEN

 

ALTAIR INTERNATIONAL CORP

 

AND

 

AMERICAN LITHIUM MINERALS, INC.

 

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TABLE OF CONTENTS

 

	 	 	Page
	 	 	 
	1.	REQUIRED
APPROVALS	6
	 	 	 	 
	 	1.1 	Assistance	6
	 	1.2 	Exclusivity	6
	 	 	 	 
	2. 	GRANT OF EXPLORATION, DEVELOPMENT AND EARN IN RIGHTS	6
	 	 	 	 
	 	2.1 	Property	6
	 	2.2 	Grant of Earn-In Right	6
	 	2.3 	Timing, Manner, Nature and Extent of Activities at Manager's Discretion	8
	 	2.4 	Execution of Agreement	8
	 	 	 	 
	3. 	ACQUISITION AND TRANSFER OF INTEREST AND NSR 	8
	 	 	 	 
	 	3.1 	Completion of Initial Earn-In Option	8
	 	3.2 	Completeion of Partial Subsequent Earn-In Option	8
	 	 	 	 
	4. 	REPRESENTATION, WARRANTIES, COVENANTS AND CONDITIONS	8
	 	 	 	 
	 	4.1 	Representations of Optionor	8
	 	4.2 	Representations of Optionee	11
	 	4.5 	Conditions of Optionee	11
	 	4.6 	Conditions of Optionor	12
	 	 	 	 
	5. 	TERMINATION OF AGREEMENT 	12
	 	 	 	 
	 	5.1 	Termination by Optionee	12
	 	5.2 	Default by Optionee	13
	 	 	 	 
	6. 	PARTICIPATION FOLLOWING EARN-IN	13
	 	 	 	 
	 	6.1 	Participation in Expenditures	13
	 	6.2 	Joint Venture	13
	 	6.3 	Contribution	13
	 	6.4 	Contribution Default	13
	 	6.5 	Minority Party Review of Annual Programs and Budgets	13
	 	6.6 	Tax Partnership Option	13

 

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	7. 	OPERATIONS DURING EARN-IN PERIOD 	14
	 	 	 
	 	7.1 	Operations	14
	 	7.2 	Exploration and
Development Decisions	14
	 	7.3 	Compliance with
Laws During Earn-In Period	14
	 	7.4 	Timely Payment	 14
	 	7.5 	Claim Rights	14
	 	7.6 	Data	14
	 	7.7 	Right to Visit Property	 14
	 	7.8 	Title to the Property; Liens	15
	 	7.9 	Reclamation Bonds	15
	 	7.10 	Standard of Care	15
	 	 	 	 
	8. 	FORCE
MAJEURE	15
	 	 	 	 
	9. 	AREA OF INTEREST 	16
	 	 	 	 
	 	9.1 	Area of Interest	 16
	 	9.2 	Property Acquisition Procedures	16
	 	9.3 	Property Acquisition Costs	16
	 	9.4 	Additional Interests	17
	 	9.5 	Acquisition and Quitclaim of Property Interests	17
	 	9.6 	After-Acquired Interest Within Area of Interest	17
	 	 	 	 
	10. 	ASSIGNMENT 	17
	 	 	 	 
	 	10.1 	Assignment by Optionee	17
	 	 	 	 
	11. 	INDEMNIFICATION 	17
	 	 	 	 
	 	11.1 	Indemnification
by Optionee	17
	 	11.2 	Indemnification
by Optionor	18
	 	11.3 	Indemnification
Procedures	18
	 	 	 	 
	12.	CONFIDENTIALITY 	19
	 	 	 	 
	 	12.1	Confidentiality	19
	 	12.2	Disclosure	19
	 	12.3	Own Analysis	20
	 	 	 	 
	13. 	ENTIRE AGREEMENT	20
	 	 	 	 
	14. 	 DISPUTE RESOLUTION	20

 

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	15. 	GENERAL 	20
	 	 	 	 
	 	15.1 	Notice	 20
	 	15.2	Further Assurances	21
	 	15.3	Counterparts	21
	 	15.4	US Dollars	21
	 	15.5	Governing Law	21
	 	15.6	Third Party Beneficiaries	21
	 	15.7	Severability	22
	 	15.8	No Implied Covenants	22
	 	15.9	Amendment	22
	 	15.10	Corporate Opportunity	22
	 	15.11	Rule Against Perpetuities	22
		15.12	No Partnership	23

 

EXHIBITS

 

Exhibit A - Claims

 

Exhibit B - Definitions

 

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FIRST AMENDED DEFINITIVE EARN-IN AGREEMENT

(Stonewall and Kingman Projects)

 

THIS EARN-IN
AGREEMENT (the "Agreement") is made and entered into effective as of November 23, 2020 (the "Effective Date"),
by and between American Lithium Minerals, Inc. (“Optionor” or “AMLM”), a Nevada company with an address
of 6440 Sky Pointe Dr., Ste 140-149, Las Vegas, NV 89131 USA and Lithium Now, LLC ("Optionee" or “LN”),
a Nevada Limited Liability company which is a subsidiary of Altair International Corporation with an address of 322 North Shore
Drive, Building 1B, Suite 200, Pittsburgh, PA 15212 USA.

 

RECITALS

 

A. Optionor is the owner of options to
purchase the Stonewall Lithium Project and the Kingman Rare Earth Project (“the Projects” or “Property”).
The Stonewall Lithium Project is presently comprised of 63 unpatented placer mining claims covering a total of approximately 1,260
acres (the "Claims") all of which are located in Nye County and Esmeralda County, Nevada. The Kingman Rare Earth Project
is comprised of three (3) unpatented lode mining claims (approximately 55 acres) located in Mohave County, Arizona. The Claims
are listed on Exhibit A hereto and the Claims and the other property interests and all other assets and activities within the Area
of Interest (as defined in Section 9.1) form the property commonly referred to as the Stonewall Lithium Project and the Kingman
Rare Earth Project, respectively (the "Projects" or, collectively, the “Project”).

 

B. Optionor desires to grant to and the
Optionee desires to acquire, during the period commencing on the Effective Date and for so long thereafter as this Agreement remains
in effect but not to exceed three (3) years after the Effective Date (the "Earn-In Period"), the exclusive right to explore,
evaluate and develop the Project, and to earn up to a 60% undivided interest in the Projects, and all easements, rights-of-way,
water rights, after-acquired property, information, data, contract rights and other real and personal property, tangible and intangible,
associated therewith (collectively, within the Projects), pursuant to the terms and conditions of this Agreement.

 

c. The Agreement is being amended to correct
an error in description of the claims. Specifically, the Stonewall Flat Lithium Project claims are placer claims and the Kingman
Rare Earth Project claims are lode claims.

 

AGREEMENT

 

NOW, THEREFORE, for and in consideration
of the mutual promises, covenants and conditions herein contained and recited, Optionor and Optionee agree as follows:

 

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1.   REQUIRED APPROVALS

 

1.1 Assistance.
Either party will use reasonable commercial efforts to assist the party in obtaining all approvals required to be obtained, and
with the completion and filing of all reports and documents required to be completed and filed, in respect of the transactions
contemplated by this Agreement.

 

1.2 Exclusivity.
During the period following execution of this Agreement until the Effective Date, Optionor agrees not to, directly or indirectly,
solicit, initiate, encourage, conduct or engage in any discussion or negotiations or enter into any agreement or understanding
with any party other than Optionee regarding the sale, transfer, assignment, encumbrance or other disposition of any rights relating
to the Projects.

 

2.   GRANT OF EXPLORATION, DEVELOPMENT
AND EARN IN RIGHTS

 

2.1 Property.
Affiliates of Optionor have validly located the Claims comprising the Projects, kept the claims in good standing with, and have
paid all current amounts due to the United States Bureau of Land Management (BLM) and the counties in which the Claims are located
through the date hereof. Upon receipt of the $75,000 Initial Consideration by Optionor, the Affiliates will transfer to Optionor
by Quitclaim Mining Deed, their respective interests in the Claims o that the Claims are owned of record by Optionor.

 

2.2 Grant of Earn-In
Right. As of the Effective Date, Optionor hereby grants to Optionee the exclusive right, during the Earn-In Period, (i) to
enter upon the Property to explore, evaluate and develop and mine the Projects including the Claims, and (ii) to acquire up to
a 60% undivided interest in the Projects (the "Earn-In Right"), as follows:

 

(a) INITIAL EARN-IN
OPTION. The Optionee may acquire an initial 10% undivided interest in the Property (the "Initial Earn-In Option")
through the payment of Seventy Five Thousand Dollars ($75,000) (the "Initial Consideration"). The timing of the payments
will be Thirty Thousand Dollars ($30,000) within 14 days after the signing of this Agreement and Forty-Five Thousand Dollars ($45,000)
within 45 days after the signing of this Agreement. Upon the completion of the payment of the Initial Consideration to AMLM, Altair
will own a 10% undivided interest in the Properties (the "Initial Ownership")

 

(i) within 14 calendar days after the signing
of this Agreement, Optionee shall pay to Optionor the amount of Thirty Thousand Dollars ($30,000);

(ii) within 45 calendar days after the
signing of this Agreement, Optionee shall pay to Optionor the amount of Forty Five Thousand Dollars ($45,000)

 

(b) SUBSEQUENT
EARN-IN OPTION. The Optionee may acquire an additional 50% interest in the Property by committing to expend an aggregate of
One Million Three Hundred Thousand Six Hundred Forty Eight Dollars (US$1,300,648) (the "Aggregate Work Obligation") in
Exploration and Development Expenses as follows;

 

1st Agreement Year (Commencing Calendar
year 2021) - Optionee will commit to an Annual Work Commitment of One Hundred Thousand and Six Hundred and Forty Eight Dollars
($100,648). Upon satisfaction of the Annual Work Commitment, Optionee will be issued an additional ten percent (10%) additional
interest, for a total ownership of Twenty Percent (20%) of the Properties

 

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2nd Agreement Year - Optionee will commit
to an Annual Work Commitment of Six Hundred Thousand Dollars ($600,000). Upon satisfaction of the Annual Work Commitment, LN will
be issued an additional Twenty Percent (20%) additional interest, for a total ownership of Forty Percent (40%) of the Properties.

 

3rd Agreement Year - Optionee will commit
to an Annual Work Commitment of Six Hundred Thousand Dollars ($600,000). Upon satisfaction of the Annual Work Commitment, LN will
be issued an additional Twenty percent (20%) interest, for a total ownership of Sixty Percent (60%) of the Properties.

 

"Agreement Year" means, during
the Earn-In Period, each annual period beginning with the first Agreement Year commencing on January 1, 2021 and ending on the
date that is 12 months less one day.

 

(c) Any Exploration
and Development Expenses incurred by Optionee in excess of the Annual Work Commitment during any Agreement Year shall apply as
a credit toward the Annual Work Commitment for the subsequent Agreement Year(s) and toward the Aggregate Work Obligation.

 

(d) Exploration and
Development Expenses shall include all relevant BLM and Federal Fees related to proper claim maintenance, which will be paid by
Optionee no later than June 30 of each Agreement Year.

 

(d) If Optionee fails
to achieve the Annual Work Commitment during any Agreement Year, and if such failure is not excused by an Event of Force Majeure
(as defined in Section 8), then, in order to keep this Agreement in full force and effect, within 30 days after the end of such
Agreement Year, Optionee may elect to make a payment to Optionor which shall equal the amount of the Annual Work Commitment for
that Agreement Year less the Exploration and Development Expenses actually incurred by Optionee during that Agreement Year. Any
such

payment shall satisfy the Annual Work Commitment
for the Agreement Year to which the payment relates.

 

(e) If for any reason
it is subsequently determined that the Annual Work Commitment was not completed during any Agreement Year, then, in order to keep
its earn-in rights under this Agreement in good standing, Optionee shall pay the amount of any agreed-upon deficiency to Optionor
within 30 days after the parties reach agreement as to the amount of the deficiency, or as the parties may otherwise agree.

 

(f) The Optionee may
in its sole discretion accelerate the timing of incurring Exploration and Development Expenses to meet the Aggregate Work Obligation
and may exercise the full Subsequent Earn-In Option at any time during the period from the Effective Date to the third anniversary
of the Effective Date.

 

(g) Verde Exploration
Partners will be the exploration operator (the "Manager") during the Earn-In Period. The Managers of Verde Exploration
are Harp Sangha and Craig Alford, PGeo.

 

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2.3 Timing,
Manner, Nature and Extent of Activities at Manager's Discretion. The timing, manner, nature, and extent of any
exploration, development, or any other activities or operations undertaken on or for the benefit of the Project or the
Property under this Agreement shall be at the sole discretion of the Manager, and there shall be no express or implied
covenant under this Agreement to begin or continue any such operations or activities provided however that Optionee shall be
able to comply with its obligations in Section 2.2(b) hereof.

 

2.4 Execution of
Agreement. Upon execution of this Agreement, Optionor shall make available to Optionee all records, information and data in
its possession or reasonably available to it relating to title to the Property or environmental conditions at or pertaining to
the Claims and all maps, assays, surveys, technical reports, drill logs, samples, mine, mill, processing and smelter records, and
metallurgical, geological, geophysical, geochemical, and engineering data, and interpretive reports derived therefrom, concerning
the Property, and Optionee, at its expense, may copy any such records, information and data that Optionee desires. Optionor makes
no representation or warranty as to the accuracy, reliability or completeness of any such records, information or data, and the
Optionee shall rely on the same at its sole risk.

 

3.   ACQUISITION AND TRANSFER OF INTEREST

 

3.1 Completion
of Initial Earn-In Option. Upon Optionee having made the payments in accordance with Section 2.2(a) the Optionee shall provide
Optionor with written notice of such completion and exercise of the Initial Earn-In Option. Optionor shall deliver to the Optionee
within 30 days of receipt of such exercise notice (a) deeds and assignments (in form and substance reasonably acceptable to Optionee)
conveying to Optionee, or its assignee, an Ten Percent (10%) undivided interest in the Property, and (b) appropriate conveyance
documents (in form and substance reasonably acceptable to Optionee) conveying to Optionee an 10% undivided interest in any real
property interests within the Area of Interest acquired by Optionor during the relevant period, free and clear of all liens, claims
and encumbrances arising by, through or under Optionor.

 

3.2 Completion of Partial Subsequent
Earn-In Option. Upon Optionee fulfilling its annual work commitments in accordance with Section 2.2(b) the Optionor shall provide
Optionee within 30 days a written notice of such completion and exercise of the proportionate Earn-In by way of deeds and assignments
(in form and substance reasonably acceptable to Optionee) conveying to Optionee, its new undivided interest in the Property.

 

4.   REPRESENTATION, WARRANTIES, COVENANTS
AND CONDITIONS

 

4.1 Representations
of Optionor. Optionor represents, warrants and covenants to Optionee that:

 

(a) Optionor is the
owner of 100% of the Claims, free and clear of all liens, claims and encumbrances, and such claims are validly staked in accordance
with the laws of the State of Nevada and the State of Arizona. Optionor is in exclusive possession of the Property, free and clear
of all liens, claims, and encumbrances.

 

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(b) As to each
of the Claims, subject to the paramount title of the United States of America: (i) the Claims have been properly located and
monumented on public domain land open to appropriation by mineral location, free and clear of any conflicting claims of which
Optionor is aware; (ii) location notices and certificates and required maps have been properly posted, recorded and filed
with the appropriate governmental agencies for each of the Claims; (iii) all filings and recordings required to maintain the
Claims in good standing through the Effective Date, including evidence of timely payment of required claim maintenance fees,
have been timely and properly made in the appropriate governmental offices; and, (iv) all required annual claim maintenance
fees, Bureau of Land Management fees, county and/ore state mining claim fees and other payments necessary to maintain the
Claims through the assessment year

ending August 31, 2020, have been timely
and properly made.

 

(c) All operations
and activities conducted by or on behalf of Optionor on the Claims and the Property have been conducted in compliance with applicable
federal, state and local laws, rules and regulations, including without limitation Environmental Laws (as defined in Exhibit B).

 

(d) Optionor is duly
organized, validly existing and in good standing under the laws of the State of Nevada and is qualified to do business in and is
in good standing under the laws of the State of Nevada and Arizona. Optionor has the requisite corporate power and capacity to
carry on business as presently conducted, to enter into this Agreement, and to perform all of its obligations hereunder.

 

(e) There are no outstanding
agreements, leases or options (whether oral or written) which contemplate the acquisition of the Claims, or any other interest
in the Property or within the Area of Interest or any interest therein by any other person or entity, or which limit or define
in any way the activities that may be conducted on the Claims or on any other part of the Property. Except for the State of Nevada
net proceeds of mines tax, there are no production royalties or other payments based on mineral production payable on the Claims.

 

(f) The entering
into of this Agreement and the performance by Optionor of its obligations hereunder will not violate or conflict with its
constating documents, including its articles of incorporation or by-laws, any applicable law or any order, decree or notice
of any court or other governmental agency, nor conflict with, or result in a breach of or default under any other contract or
other commitment to which Optionor is a party or by which it is bound.

 

(g) All
requisite corporate actions on the part of Optionor, and on the part of its officers and directors necessary for the
execution, delivery, and performance by it of this Agreement and all other agreements contemplated hereby, have been taken.
This Agreement and all agreements and instruments contemplated hereby are, and when executed and delivered by it (assuming
valid execution and delivery by the other party), will be, legal, valid, and binding obligations of it enforceable against it
in accordance with their respective terms. Notwithstanding the foregoing, no representation is made as to the availability of
equitable remedies for the enforcement of this Agreement or any other agreement contemplated hereby. Additionally, this
representation is limited by applicable bankruptcy, insolvency, moratorium, and other similar laws affecting generally the
rights and remedies of creditors and secured parties.

 

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(h) To the best of
the knowledge of Optionor, there are no adverse environmental conditions at the Property which constitute a nuisance or that have
caused or could result in a violation of or liability under any Environmental Laws. In conducting activities on the Property, Optionor
has complied with all applicable Environmental Laws as they relate to the Property and there have been no breaches of or liabilities
caused or permitted to arise by Optionor under any Environmental Laws. Optionor has not (i) received notification from any person,
including without limitation, any governmental authority, of any potential violation or alleged violation of any applicable Environmental
Laws relating to the Property or of any inspection or possible inspection or investigation by any governmental authority under
any applicable Environmental Laws relating to the Property, (ii) received any notification of or has knowledge of the presence
or release of any Hazardous Materials (as defined in Exhibit B), in the soil, subsurface strata or water in, on or under the Property
and (iii) been the subject of any claims or incurred any expenses in respect of the presence of any contaminants in the soil, subsurface
strata or water in, on or under the Property.

 

(i) To the best of
the knowledge of Optionor, there is no circumstance that would prevent any and all governmental licenses and permits required to
carry out exploration, development, mining, processing, and reclamation operations on the Property from being obtained, as and
when necessary.

 

(j) Optionor has obtained
all consents required under any other agreement to which it is a party and all required consents and approvals from governmental
agencies as necessary for it to execute, deliver and perform its obligations under this Agreement.

 

(k) There are no actions,
suits or proceedings pending or, to the knowledge of Optionor, threatened against or affecting the Property or the interest of
Optionor in the Property or any portion of the Property, including any actions, suits, or proceedings being prosecuted by any federal,
state or local department, commission, board, bureau, agency, or instrumentality. To the knowledge of Optionor, it is not subject
to any order, writ, injunction, judgment or decree of any court or any federal, state or local department, commission, board, bureau,
agency, or instrumentality which relates to the Property.

 

(l) Optionor will
assist Optionee at Optionee’s cost in making applications for required permits or other required approvals from regulatory
authorities required in order to conduct exploration and development activities and operations and related work on the Property.

 

(m) All negotiations
relative to this Agreement and the transactions contemplated hereby have been carried on by Optionor in such a manner as not to
give rise to any valid claim against the Optionee or any third party for a brokerage commission, finder's fee or other fee or commission
arising by reason of the transactions contemplated by this Agreement.

 

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4.2 Representations
of Optionee. Optionee represents, warrants and covenants to Optionor that:

 

(a) Optionee is duly
incorporated, validly existing and in good standing under the laws of the United States. Optionee has the requisite corporate power
and capacity to carry on business as presently conducted, to enter into this Agreement, and to perform all of its obligations hereunder.

 

(b) The entering into
of this Agreement and the performance by Optionee of its obligations hereunder will not violate or conflict with its articles of
incorporation or any applicable law or any order, decree or notice of any court or other governmental agency, nor conflict with,
or result in a breach of, or accelerate the performance required by any contract or other commitment to which Optionee is a party
or by which it is bound.

 

(c) All requisite
corporate actions on the part of Optionee, and on the part of its officers, directors and shareholders, necessary for the execution,
delivery and performance by it of this Agreement and all other agreements contemplated hereby, have been taken. This Agreement
and all agreements and instruments contemplated hereby are, and when executed and delivered by it (assuming valid execution and
delivery by the other party), will be legal, valid and binding obligations of its enforceable against it in accordance with their
respective terms. Notwithstanding the foregoing, no representation is made as to the availability of equitable remedies for the
enforcement of this Agreement. Additionally, this representation is limited by applicable bankruptcy, insolvency, moratorium, and
other similar laws affecting generally the rights and remedies of creditors and secured parties.

 

(d) Optionee has obtained
all consents required under any agreement to which it is a party and all required consents and approvals from governmental agencies,
as necessary for it to execute, deliver and perform its obligations under this Agreement.

 

(e) All negotiations
relative to this Agreement and the transactions contemplated hereby have been carried on by Optionee in such manner as not to give
rise to any valid claim against Optionor or any third party for a brokerage commission, finder's fee or other fee or commission
arising by reason of the transactions contemplated by this Agreement.

 

(f) Optionee Parent
is a "reporting issuer" (within the meaning of applicable securities laws) and reports to the SEC under the Securities
Exchange Act of 1934. Optionee Parent’s common shares are traded on the Over the Counter Exchange (ticker: “ATAO”)
..

 

4.5 Conditions
of Optionee. Optionee's obligations to consummate the transactions contemplated hereby are subject to the satisfaction of
the following conditions any of which may be waived by the consent of Optionee without prejudice to its rights to rely on any
other or others of such conditions:

 

(a) The representations
and warranties of Optionor contained in this Agreement shall be true and accurate on the date hereof and at the Effective Date
with the same force and effect as though such representations and warranties had been made as of the Effective Date.

 

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(b) There will have
been no material adverse change in the condition of the Claims, howsoever arising.

 

(c) Optionee shall
have complied with all covenants and agreements herein agreed to be performed or caused to be performed by it at or prior to the
Effective Time.

 

4.6 Conditions
of Optionor. Optionor's obligations to consummate the transactions contemplated hereby are subject to the satisfaction of the
following conditions any of which may be waived by the consent of Optionor without prejudice to its rights to rely on any other
or others of such conditions:

 

(a) There will have
been no material adverse change in the business of Optionee howsoever arising.

 

(b) The representations
and warranties of Optionee contained in this Agreement shall be true and accurate on the date hereof and at the Effective Date
with the same force and effect as though such representations and warranties had been made as of the Effective Date.

 

(c) The Optionee shall
have complied with all covenants and agreements herein agreed to be performed or caused to be performed by it at or prior to the
Effective Time.

 

5.   TERMINATION OF AGREEMENT

 

5.1 Termination
by Optionee. The Optionee may in its sole discretion terminate this Agreement at any time by giving not less than 30 days prior
written notice to that effect to Optionor. Upon expiration of the applicable notice period set forth in the preceding sentence,
or if the Agreement is terminated pursuant to any other provision of this Agreement, the Agreement will be of no further force
and effect. Upon such termination, Optionee shall have no further obligation to incur Exploration and Development Expenses on or
for the benefit of the Property and shall have no further obligations or liabilities to Optionor under this Agreement or with respect
to the Property (including without limitation liability for lost profits or consequential, incidental or punitive damages as a
result of an election by Optionee to terminate this Agreement), other than (a) as set forth in the remainder of this paragraph,
(b) its indemnification obligations under Section 11.1, and (c) its obligation to reclaim (in accordance with applicable law) any
disturbances of the Property made by the Optionee. Optionor hereby agrees to grant Optionee such access to the Property as is reasonably
necessary to complete any required reclamation. In the event of such termination, Optionor's indemnification obligation under Section
11.2 shall survive. At any time Optionee may, at its option, terminate its interest in some but less than all of the Property by
written notice to Optionor, provided that if such notice (or notice of termination of this Agreement in its entirety) is received
by Optionor after June 30th of any year, Optionee shall remain obligated to pay the BLM claim maintenance fees (and make all filings
and recordings required in connection therewith) for those Claims to which such termination applies for the upcoming assessment
year. To the extent the Optionee terminates its interest in some but less than all of the Property, this Agreement shall remain
in full force and effect with respect to the remaining Property. Notwithstanding the foregoing provisions of this Section 5.1,
if, following termination of this Agreement by Optionee, Optionor enters into an agreement with a third party regarding exploration,
development or exploitation of all or any portion of the Property, the Optionee's obligations under this Section 5.1 shall terminate.

 

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5.2 Default by
Optionee. In the event Optionee is in default in the observance or performance of any of Optionee's covenants, agreements or
obligations under this Agreement, Optionor may give written notice of such alleged default specifying the details of same. The
Optionee shall have 30 days following receipt of said notice (or, in the event Optionee in good faith disputes the existence of
such a default, 30 days after a final, non-appealable order of a court of competent jurisdiction finding that such a default exists)
within which to remedy any such default described therein, or to diligently commence action in good faith to remedy such default.
If the Optionee does not cure or diligently commence to cure such default by the end of the applicable 30-day period, then Optionor
shall have the right to terminate this Agreement by providing 30 days advance written notice to the Optionee. In the event of such
termination, the provisions of Section 5.1 shall apply with respect to the parties' ongoing obligations and liabilities.

 

6.   PARTICIPATION FOLLOWING EARN-IN

 

6.1 Participation
in Expenditures. At such time as the Optionee earns an interest in the Property pursuant to the exercise of the Initial Earn-In
Option but has failed to exercise or has terminated the Subsequent Earn-In Option, subject to the provisions of Section 2.2(h),
Optionor will bear all expenditures on the Property.

 

6.2 Joint Venture.
At such time after the Optionee fully completes its Sixty Percent (60%) Earn-in as defined in Section 2.2, Optionor and Optionee
will form a Joint Venture Agreement.

 

6.3 Contribution. Within the Joint
Venture Agreement any further exploration and development costs will be advanced on a Pro Rata basis based on Project ownership
by the Parties of the Joint Venture.

 

6.4 Contribution
Default. If either party defaults in its contributions to any program and budget to which it has agreed and become obligated
to contribute, its interest will be diluted at a normal straight line dilution rate, and other typical default remedies may be
exercised by the non-defaulting party

 

6.5 Minority Party
Review of Annual Programs and Budgets. Annual programs and budgets must be presented to the minority party 60 days prior to
funds being required. This includes any amendments to any approved annual program and budget.

 

6.6 Tax Partnership
Option. At the option of Optionee, the parties will for a tax partnership on terms substantially similar to the applicable
provisions or exhibits of Model Form 5A or Model Form 5 LLC.

 

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7.   OPERATIONS DURING EARN-IN PERIOD

 

During the Earn-In
Period:

 

7.1 Operations.
Optionee and its employees, agents, consultants and independent contractors shall have the exclusive right to enter upon the Property
and to conduct such prospecting, exploration, development or other related work thereon and thereunder as they desire and as is
permitted by federal and respective State laws. Optionee's activities on the Property may include any activities for which the
costs would qualify as Exploration and Development Expenses, as well as the removal of mineral samples for the purpose of, and
in amounts appropriate for, testing such mineral samples, including bulk sampling, and in addition the Optionee shall have the
right to bring upon and erect upon the Property such buildings, plants, machinery and equipment as the Optionee may deem necessary
or desirable to carry out such activities.

 

7.2 Exploration
and Development Decisions. The Manager in its sole discretion will decide any matter concerning the conduct, timing and nature
of its prospecting, exploration, development or other mining activities on the Property.

 

7.3 Compliance
with Laws During Earn-In Period. The Manager shall conduct its exploration, development and other activities on the Property
in substantial compliance with applicable laws and regulations, including laws and regulations related to exploration, development
and mining.

 

7.4 Timely Payment.
Optionee, so long as it has not terminated this Agreement in whole or in part, shall be responsible for timely payment of required
claim maintenance fees, property taxes, and any other payments required to maintain the Claims.

 

7.5 Claim Rights.
Subject to the prior consent of Optionor, the Manager shall have the right to abandon, relocate, amend, defend contests or adverse
actions or suits and negotiate settlement thereof with respect to any and all of the Claims, and Optionor shall cooperate with
the Manager and shall execute any and all documents necessary or desirable in the opinion of Manager to further such amendments,
relocations, contests, adverse actions or suits, or settlement of such contests or adverse actions or suits. The Manager shall
not be liable to Optionor for the loss of any of the Claims as a result of such abandonments, amendments, relocations, contests
or adverse actions or suits, so long as the same are undertaken in good faith and with the prior consent of Optionor.

 

7.6 Data. All
exploration and related data generated by either party must be provided to both parties within a reasonable period of time.

 

7.7 Right to Visit
Property. Either party and their authorized agents, at their sole risk and expense, shall have the right, exercisable during
regular business hours, at a mutually convenient time, in compliance with Manager's safety rules and regulations and applicable
law, and in a reasonable manner so as not to interfere with Manager's operations, to go upon the Property for the purpose of confirming
that the Optionee is conducting its operations in the manner required by this Agreement. The parties shall indemnify and hold Manager
harmless from all claims for damages arising out of any death, personal injury or property damage sustained by them, their agents
or employees, while in or upon the Property, whether or not the party, its agents or employees are in or upon the Property pursuant
to this Section 7.7, unless such death, injury or damage is due to Manager's gross negligence or willful misconduct.

 

    14

     

    

 

7.8 Title to the
Property; Liens. The Optionee and Optionor shall keep the title to the Property free and clear of all liens and encumbrances
resulting from operations hereunder; provided, however, that each of the Optionee and Optionor may refuse to pay any claims asserted
against it which it disputes in good faith. At its sole cost and expense, the Optionee or Optionor, as the case may be, shall contest
any suit, demand or action commenced to enforce such a claim and, if the suit, demand or action is decided by a court or other
authority of ultimate and final jurisdiction against Optionee, Optionor or the Property, the applicable party shall promptly pay
the judgment and shall post any bond and take all other action necessary to prevent any sale or loss of the Property or any part
thereof.

 

7.9 Reclamation
Bonds. During the Earn-in Period, (i) the Optionee shall reimburse Optionor for any existing reclamation bonds, and provide
any additional funds required for reclamation bonds related to its activities on the Property and shall be entitled to receive
the funds securing such bonds when such bonds are released, and (ii) shall perform reclamation work required in connection with
its activities on the Property. If a joint venture or LLC is formed in accordance with Section 6.2 hereof, the reclamation obligations
associated with any disturbances of the Property made by Optionee during the Earn-In Period shall become obligations of the joint
venture or LLC, and the joint venture or LLC shall reimburse Optionee for the funds Optionee previously provided for reclamation
bonds. If Optionee terminates this Agreement prior to acquiring an interest in the property, Optionee shall complete reclamation
work required as a result of activities conducted on the Property in compliance with this Agreement, or Optionor shall complete
such reclamation work at Optionee's written request and at Optionee's expense.

 

7.10 Standard of
Care. Optionor and the Optionee shall conduct all operations in a good, workmanlike and efficient manner, in substantial accordance
with sound mining and other applicable industry standards and practices, and in substantial accordance with the terms and provisions
of leases, licenses, permits, contracts and other agreements pertaining toProperty.

 

8.   FORCE MAJEURE

 

If Optionee should be delayed in or
prevented from performing any of the terms, covenants or conditions of this Agreement by reason of a cause beyond the control
of Optionee, whether or not foreseeable, including fires, floods, earthquakes, subsidence, ground collapse or landslides,
interruptions or delays in transportation or power supplies, strikes, lockouts or other labor disputes, wars, acts of God,
changes in laws, native title claims, inability to obtain required governmental permits or approvals in a timely manner,
curtailment or suspension of activities to remedy or avoid an actual or alleged, present or prospective violation of
Environmental Laws, government regulation or interference (but excluding a lack of funds), drought or other adverse weather
condition, actions by citizen groups including but not limited to environmental organizations, or any other cause whether
similar or dissimilar to the foregoing (each an "Event of Force Majeure"), then any such failure on the part of
Optionee to so perform shall not be deemed to be a breach of this Agreement and the time within which Optionee is obliged to
comply with any terms, covenants or conditions of this Agreement shall be extended by the period of all such delays. Optionee
shall give notice in writing to Optionor forthwith and for each Event of Force Majeure shall set out in such notice
particulars of the cause, and the date on which the same arose, and shall take all reasonable steps to remove the cause of
such Event of Force Majeure (although Optionee shall have no obligation to settle any labor dispute on terms other than those
acceptable to it in its sole discretion), and shall also give notice immediately following the date that such cause ceases to
exist.

 

    15

     

    

 

9.   AREA OF INTEREST

 

9.1 Area of Interest.
Except as set forth below, the Area of Interest shall be defined as the area within a one-mile radius of the outer boundaries of
the present Claim area as of the Effective Date. Any interest or rights to acquire (a) any interest in mining claims or in other
real property interests within the Area of Interest, acquired during the Earn-In Period by or on behalf of any party or any affiliate
or subsidiary of any party shall become subject to the terms and provisions of this Agreement in accordance with the provisions
of Section 9.2.

 

		(I)	Specific Inclusions within the Area of Interest. Even if beyond a one-mile radius of the outer
boundaries of the present Claim area as of the Effective Date, the following area between the two southern Claim blocks shall be
included within the Area of Interest: T5S R43E, Sections 19, 29, 30, 31, 32 and 33; T6S R43E, Sections 3, 4, 5, 8, 9 and 10;

		(II)	Specific Exclusions from the Area of Interest. Even if within a one-mile redius of the outer boundaries
of the present Claim area as of the Effective Date, the following area (commonly known as the Cuprite Hills and the site of the
 “Cupid Gold Project” of Bonanza Goldfields Corp. (BONZ), an affiliate of Optionor) shall be excluded from the Area
of Interest: T5S R42E Sections 1, 12, 13 and 14 and T5S R43E Sections 5, 6, 7, 8, 17, 18.

 

9.2 Property Acquisition
Procedures. Within 30 days after the acquisition of such additional property, all or any portion of which lies within the Area
of Interest (or which constitutes contiguous claims that may extend the Area of Interest), the acquiring party shall notify the
other party of such acquisition. Such notice shall describe in detail the acquisition, the lands, the nature of the interest therein,
the mining claims or other real property interest covered thereby, and the acquisition cost. In addition to such notice, the acquiring
party shall make any and all information it has concerning the additional property available to the other party. The other party
shall then have 30 days after receipt of such notice and information to elect in its sole discretion to include such additional
interest in the Property and such interest shall become part of the Property.

 

9.3 Property Acquisition
Costs. Any contiguous unpatented mining claims staked by Optionee during the term of this Agreement should be staked under
the name of Optionor. Should Optionor be the acquiring party and should the additional property become part of the Property, Optionee
shall reimburse Optionor for its acquisition costs, and the amount of such reimbursement shall count as Exploration and Development
Expenses.

 

    16

     

    

 

9.4 Additional
Interests. If a party is entitled to and does elect not to include such an additional interest as part of the Property, then
with respect to that additional interest, the acquiring party shall be free to take actions with respect to and dispose of such
interest without any obligation to the other party.

 

9.5 Acquisition
and Quitclaim of Property Interests. All real property interests within the Area of Interest and any contiguous claims that
extend beyond the Area of Interest which are acquired by Optionee and which are added to the Property pursuant to Section 9.2 shall
be quitclaimed by the Optionee to Optionor promptly after Optionor provides the notice referred to in Section 9.2.

 

9.6 After-Acquired
Interest Within Area of Interest. Following termination of this Agreement, Optionee will not acquire any interest in or rights
to real property within the Area of Interest for two years from the termination date.

 

10.   ASSIGNMENT

 

10.1 Assignment
by Optionee. This Agreement shall be binding upon and inure to the benefit of the parties and their permitted successors and
assigns. The Optionee may, upon the prior written approval of Optionor, which approval shall not be unreasonably withheld or delayed,
assign its interest in this Agreement to Optionee Parent or a subsidiary thereof, as well as to any third party that is not affiliated
with Optionee at any time, provided that the assignee agrees in writing to assume all the obligations of Optionee under this Agreement.
Upon such assignment, or an assignment to an affiliate (as described below), Optionee shall have no further obligations or liabilities
under this Agreement. Notwithstanding the foregoing, at any time, and without the consent of Optionor, Optionee may assign this
Agreement:

 

(a) to one or more
of its affiliates upon the affiliate assuming all of Optionee's obligations under this Agreement (affiliate meaning any entity
which directly or indirectly controls or is controlled by, or under common control with, Optionee);

 

(b) in connection
with a pledge by Optionee for financing purposes;

 

(c) in connection
with a corporate merger or reorganization involving Optionee or any affiliate;

 

(d) in connection
with a sale of all or substantially all of Optionee's assets; or

 

(f) to a third party
that is technically and financially capable of performing Optionee's obligations under this Agreement.

 

11.   INDEMNIFICATION

 

11.1 Indemnification
by Optionee. Optionee agrees to indemnify, defend and hold harmless Optionor (and its officers, directors, successors, and
assigns) from and against any and all debts, liens, claims, causes of action, administrative orders and notices, costs (including,
without limitation, response and/or remedial costs), personal injuries, losses, damages, liabilities, demands, interest, fines,
penalties and expenses, including reasonable attorney's fees and expenses, consultant's fees and expenses, court costs and all
other out-of-pocket expenses, suffered or incurred by Optionor and its successors as a result of:

 

    17

     

    

 

(a) any breach by
Optionee of any of its representations, warranties, covenants and obligations set forth in this Agreement; or

 

(b) any operations
or activities engaged in by Optionee on the Property, including without limitation any matter, condition or state of fact involving
Environmental Laws or Hazardous Materials or Environmental Liabilities which may arise after the Effective Date of this Agreement
and that is caused by Optionee.

 

11.2 Indemnification
by Optionor. Optionor agrees to indemnify, defend and hold harmless Optionee (and its officers, managers, members, successors,
and assigns) from and against any and all debts, liens, claims, causes of action, administrative orders and notices, costs (including,
without limitation, response and/or remedial costs), personal injuries, losses, damages, liabilities, demands, interest, fines,
penalties and expenses, including reasonable attorney's fees and expenses, consultant's fees and expenses, court costs, and all
other out-of-pocket expenses suffered or incurred by Optionee and its successors as a result of:

 

(a) any breach by
Optionor of any of its representations, warranties, covenants and obligations set forth in this Agreement; or

 

(b) any operations
or activities engaged in by Optionor on the Property, including without limitation any matter, condition or state of fact involving
Environmental Laws or Hazardous Materials or Environmental Liabilities which may exist prior to the Effective Date of this Agreement
or which may arise after the Effective Date of this Agreement and that is caused by Optionor.

 

11.3 Indemnification
Procedures. The parties hereto, within 5 days after the service of process upon either of them in a lawsuit, including any
notices of any court action or administrative action (or any other type of action or proceeding), or promptly after either of them,
to its respective knowledge, shall become subject to, or possess actual knowledge of, any damage, liability, loss, cost, expense,
or claim to which the indemnification provisions of this Section 10 relate, shall give written notice to the other party setting
forth the fact relating to the claim, damage, or loss, if available, and the estimated amount of the same. "Promptly"
for purposes of this paragraph shall mean giving notice within 5 days. Failure to provide prompt notification shall not relieve
either party of its indemnification obligations hereunder unless such party is materially prejudiced thereby. Upon receipt of such
notice relating to a lawsuit, the indemnifying party shall be entitled to:

 

(a) participate at
its own expense in the defense or investigation of any claim or lawsuit; or

 

(b) assume the defense
thereof, in which event the indemnifying party shall not be liable to the indemnified party for legal or attorney fees thereafter
incurred by such indemnified party in defense of such action or claim; provided, that if the indemnified party may have any unindemnified
liability out of such claim, such party shall have the right to approve the counsel selected by the indemnifying party, which approval
shall not be withheld unreasonably.

 

    18

     

    

 

If the
indemnifying party assumes the defense of any claim or lawsuit, all costs of defense of such claim or lawsuit shall
thereafter be borne by such party and such party shall have the authority to compromise and settle such claim or lawsuit, or
to appeal any adverse judgment or ruling with the cost of such appeal to be paid by such party; provided, however, if the
indemnified party may have any unindemnified liability arising out of such claim or lawsuit the indemnifying party shall have
the authority to compromise and settle each such claim or lawsuit only with the written consent of the indemnified party,
which shall not be withheld unreasonably. The indemnified party may continue to participate in any litigation at its expense
after the indemnifying party assumes the defense of such action. In the event the indemnifying party does not elect to assume
the defense of a claim or lawsuit, the indemnified party shall have authority to compromise and settle such claim or lawsuit
only with the written consent of the indemnifying party, which consent shall not be unreasonably withheld, or to appeal any
adverse judgment or ruling, with all costs, fees, and expenses indemnifiable under this Section 11 hereof to be paid by the
indemnifying party. Upon the indemnified party's furnishing to the indemnifying party an estimate of any loss, damage,
liability, or expense to which the indemnification provisions of this Section 11 relate, the indemnifying party shall pay to
the indemnified party the amount of such estimate within 10 days after receipt of such estimate.

 

12. CONFIDENTIALITY

 

12.1 Confidentiality.
All data and information coming into possession of Optionor or Optionee by virtue of this Agreement with respect to the business
or operations of the other party, or the Property generally, shall be kept confidential and shall not be disclosed to any person
not a party hereto without the prior written consent of the other party, except:

 

(a) as required by
law, rule, regulation or policy of any stock exchange or securities commission having jurisdiction over a party;

 

(b) as may be required
by a party in the prosecution or defense of a lawsuit or other legal or administrative proceedings;

 

(c) as required by
a financial institution in connection with a request for financing relating to development or mining activities; or

 

(d) as may be required
in connection with a proposed conveyance to a third party of an interest in the Property or this Agreement, provided such third
party agrees in writing in a manner enforceable by the other party to abide by all of the provisions of this Section 11 with respect
to such data and information.

 

12.2 Disclosure.
To the extent either party intends to disclose data or information via press release or other similar format as described in Section
12.1(a), the disclosing party shall provide the other party with not less than 48 hours' notice (or such lesser period of time
as the party reasonably considers to be available before its failure to make such announcement or statement will constitute a breach
of applicable law or regulatory requirements) of the text of the proposed disclosure, and the other party shall have the right
to comment on the same.

 

    19

     

    

 

12.3 Own Analysis.
Each party agrees with the other that in negotiating and entering into this Agreement it has relied on its own analysis and estimates
as to the value of the Property and upon its own geologic and engineering interpretations related thereto.

 

13. ENTIRE AGREEMENT

 

This Agreement contains
the entire agreement between the parties relating to the Property, and supersedes all prior agreements and communications between
the parties, in respect of the transactions contemplated herein.

 

14. DISPUTE RESOLUTION

 

The parties hereby
agree that any dispute arising under this Agreement shall be subject to the informal dispute resolution procedure set forth in
this Section 14. For purposes of this Section 14, the party asserting the existence of a dispute as to the interpretation of any
provision of this Agreement or the performance by the other party of any of its obligations hereunder shall notify the other party
of the nature of the asserted dispute. Within seven business days after receipt of such notice, the President (or a designee) of
Optionee and the President (or a designee) of Optionor shall arrange for a personal or telephone conference in which they use good
faith efforts to resolve such dispute. If those individuals are unable to resolve the dispute, they shall each prepare and, within
seven business days after their conference, circulate to the President (or a designee) of Optionee and the President (or a designee)
of Optionor a memorandum outlining in reasonable detail the nature of the dispute. Within five business days after receipt of the
memoranda, the individuals to whom the memoranda were addressed shall arrange for a personal or telephone conference in which they
attempt to resolve such dispute. If those individuals are unable to resolve the dispute, either party may proceed with any legal
or equitable remedy available to it; provided, however, that the parties agree that any statement made as to the subject matter
of the dispute in any of the conferences referred to in this Section 14 shall not be used in any legal proceeding against the party
that made such statement.

 

15. GENERAL

 

15.1 Notice.
Notice to Optionee, Optionee Parent or to Optionor shall be sufficiently given if delivered personally, or if sent by reputable
overnight courier, or if transmitted by facsimile to such party:

 

 (a)  in the case of a notice to Optionee, or Optionee Parent, at:

 

Altair International Corp

322 North Shore Drive, Building
1B, Suite 200,

Pittsburgh, PA 15212 USA

Attention: Leonard Lovallo, President

Email: llovallo@altairinternationalcorp.com,
with copy to leonardlovallo@gmail.com

 

    20

     

    

 

And

 

(b) in the case of
a notice to Optionor at:

 

American Lithium Minerals.

6440 Sky Pointe Dr.,
Ste 140-149

Las Vegas, NV 89131

Attention: Barbara
Bauman, President

Email: fred@lawbauman.com

 

or at such other address or addresses as
the party to whom such notice or other writing is to be given shall have last notified the party giving the same in the manner
provided in this section. Any notice or other writing delivered to the party to whom it is addressed as set forth above shall be
deemed to have been given and received on the day it is so delivered at such address, provided that if such day is not a business
day in the city where the notice is delivered, then such notice or other writing shall be deemed to have been given and received
on the next following business day. Any notice or other writing submitted by facsimile or other form of recorded communication
shall be deemed to have been given and received on the first business day after its transmission.

 

15.2 Further Assurances.
Each of Optionee, Optionee Parent and Optionor shall, with reasonable diligence, do all such things and provide all such reasonable
assurances and assistance as may be required to consummate the transactions contemplated by this Agreement and each party shall
provide such further documents or instruments required by the other party as may reasonably be necessary or desirable in order
to give effect to the terms and conditions of

this Agreement and carry out its provisions
at, before or after the Effective Date.

 

15.3 Counterparts.
This Agreement may be executed by each of Optionee, Optionee Parent and Optionor in counterparts and by facsimile, or by electronic
delivery, each of which when so executed and delivered shall be an original, but both such counterparts, whether executed and delivered
in the original or by facsimile or by electronic delivery, shall together constitute one and the same agreement.

 

15.4 US Dollars.
All dollar references in this Agreement are to United States dollars.

 

15.5 Governing
Law. This Agreement, including all documents annexed hereto and other agreements, documents and other instruments delivered
in connection herewith shall be governed by and construed in accordance with the laws of the State of Nevada (other than its rules
as to conflicts of law) and the federal laws of the United States applicable therein.

 

15.6 Third Party
Beneficiaries. The parties agree that this Agreement shall be construed to benefit the parties hereto and their respective
permitted successors and assigns only, and shall not be construed to create any third party beneficiary rights in any other party
or in any governmental organization or agency, except as specifically set forth in Section 10.

 

    21

     

    

 

15.7 Severability.
In the event that any one or more of the provisions contained in this Agreement or in any other instrument or agreement contemplated
hereby shall, for any reason, be held to be invalid, illegal, or unenforceable in any respect, such invalidity, illegality, or
unenforceability shall not affect any other provision of this Agreement or any such other instrument or agreement contemplated
hereby.

 

15.8 No Implied
Covenants. No implied term, covenant, condition or provision of any kind whatsoever except for good faith and fair dealing
shall affect any of the parties' respective rights and obligations hereunder, including, without limitation, rights and obligations
with respect to exploration, development, mining, processing and marketing of minerals, and the only terms, covenants, conditions
or provisions which shall in any way affect any of their respective rights and obligations shall be those expressly set forth in
this Agreement.

 

15.9 Amendment.
This Agreement may not be amended or modified, nor may any obligation hereunder be waived, except by writing duly executed on behalf
of both parties, and unless otherwise specifically provided in such writing, any amendment, modification, or waiver shall be effective
only in the specific instance and for the purpose it is given.

 

15.10 Corporate
Opportunity. This Agreement is, and the rights and obligations of the parties are, strictly limited to the matters set forth
herein. Subject to the provisions of Section 9, each of the parties shall have the free and unrestricted right to independently
engage in and receive the full benefits of any and all business ventures of any sort whatever, whether or not competitive with
the matters contemplated hereby, without consulting the other or inviting or allowing the other to participate therein. The doctrines
of "corporate opportunity" or "business opportunity" shall not be applied to any other activity, venture, or
operation of either party, whether adjacent to, nearby, or removed from the Property, and neither party shall have any

obligation to the other with respect to
any opportunity to acquire any interest in any property outside the Property at any time, or within the Property after termination
of this Agreement, regardless of whether the incentive or opportunity of a party to acquire any such property interest may be based,
in whole or in part, upon information learned during the course of operations or activities hereunder.

 

15.11 Rule Against
Perpetuities. The parties do not intend that there be any violation of the rule of perpetuities, the rule against unreasonable
restraints or the alienation of property, or any similar rule. Accordingly, if any right or option to acquire any interest in the
Property, or in any other real property, exists under this Agreement, such right or option must be exercised, if at all, so as
to vest such interest within time periods permitted by applicable rules. If, however, such violation should inadvertently occur,
the parties hereby agree that a court shall reform that provision in such a way as to approximate most closely the intent of the
parties within the limits permissible under such rules.

 

    22

     

    

 

15.12 No
Partnership. Nothing contained in this Agreement shall be deemed to constitute either party the partner of the other,
nor, except as otherwise herein expressly provided, to constitute either party the agent or legal representative of the
other, nor to create any fiduciary relationship between them. It is not the intention of the parties to create, nor shall
this Agreement be construed to create, any mining, commercial, tax or other partnership. Neither party shall have any
authority to act for or to assume any obligation or responsibility on behalf of the other party, except as otherwise
expressly provided herein.

 

IN WITNESS WHEREOF,
the parties have executed this Exploration Earn-In Agreement effective as of the date first set forth above.

 

[Signatures on next page.]

 

    23

     

    

 

	AMERICAN LITHIUM MINERALS, INC.	 
	 	 
	By:	 
	 	 	 
	 	Barbara Bauman, President	 
	 	 
	 	 
	ALTAIR INTERNATIONAL CORP.	 
	 	 
	By:	 
	 	 	 
	 	Leonard Lovallo	 
	 	President	 

 

    24

     

    

 

EXHIBIT A

 

CLAIMS

ESMERALDA COUNTY, NEVADA

 

	CLAIM	 	NMC #	 	 T/R/S
	JACKSON 101	 	1198904	 	5S 42E Sec 25
	JACKSON 102	 	1198905	 	5S 42E Sec 25
	JACKSON 103	 	1198906	 	5S 42E Sec 25
	JACKSON 104	 	1198907	 	5S 43E Sec 30
	JACKSON 105	 	1198908	 	5S 43E Sec 30
	JACKSON 106	 	1198909	 	5S 43E Sec 30
	JACKSON 107	 	1198910	 	5S 43E Sec 30
	JACKSON 108	 	1198911	 	5S 43E Sec 30
	JACKSON 109	 	1198912	 	5S 43E Sec 30
	JACKSON 110	 	1198913	 	5S 43E Sec 30
	JACKSON 111	 	1198914	 	5S 43E Sec 30
	JACKSON 112	 	1203445	 	5S 42E Sec 25
	JACKSON 113	 	1203446	 	5S 43E Sec 30
	JACKSON 114	 	1203447	 	5S 43E Sec 30
	JACKSON 115	 	1203448	 	5S 43E Sec 30
	JACKSON 116	 	1203449	 	5S 43E Sec 30
	JACKSON 120	 	1203453	 	5S 43E Sec 30
	JACKSON 121	 	1203454	 	5S 43E Sec 30

 

CLAIMS

NYE COUNTY, NEVADA

 

	CLAIM	 	NMC  #	 	T/R/S
	Jackson 1	 	1189713	 	5S 43E Sec 4
	Jackson 2	 	1189714	 	5S 43E Sec 4
	Jackson 3	 	1189715	 	5S 43E Sec 4
	Jackson 4	 	1189716	 	5S 43E Sec 4
	Jackson 5	 	1189717	 	5S 43E Sec 4
	Jackson 6	 	1189718	 	5S 43E Sec 4
	Jackson 7	 	1189719	 	5S 43E Sec 4
	Jackson 8	 	1189720	 	5S 43E Sec 3
	Jackson 9	 	1189721	 	5S 43E Sec 3
	Jackson 10	 	1189722	 	5S 43E Sec 3
	Jackson 11	 	1189723	 	5S 43E Sec 3
	Jackson 12	 	1189724	 	5S 43E Sec 4
	Jackson 13	 	1189725	 	5S 43E Sec 4
	Jackson 14	 	1189726	 	5S 43E Sec 4
	Jackson 15	 	1189727	 	5S 43E Sec 4
	Jackson 16	 	1189728	 	5S 43E Sec 4
	Jackson 17	 	1189729	 	5S 43E Sec 4
	Jackson 18	 	1189730	 	5S 43E Sec 4
	Jackson 19	 	1189731	 	5S 43E Sec 3
	Jackson 20	 	1189732	 	5S 43E Sec 3
	Jackson 21	 	1189733	 	5S 43E Sec 3
	Jackson 22	 	1189734	 	5S 43E Sec 3
	Jackson 23	 	1189735	 	5S 43E Sec 3
	Jackson 24	 	1189736	 	5S 43E Sec 3
	JACKSON 201	 	1198915	 	6S 43E Sec 4
	JACKSON 202	 	1198916	 	6S 43E Sec 4
	JACKSON 203	 	1198917	 	6S 43E Sec 9
	JACKSON 204	 	1198918	 	6S 43E Sec 9
	JACKSON 205	 	1198919	 	6S 43E Sec 3
	JACKSON 206	 	1198920	 	6S 43E Sec 10
	JACKSON 207	 	1198921	 	6S 43E Sec 10
	JACKSON 208	 	1198922	 	6S 43E Sec 10
	JACKSON 209	 	1198923	 	6S 43E Sec 10
	JACKSON 210	 	1198924	 	6S 43E Sec 10
	JACKSON 211	 	1198925	 	6S 43E Sec 10
	JACKSON 212	 	1198926	 	6S 43E Sec 10
	JACKSON 213	 	1198927	 	6S 43E Sec 10
	JACKSON 214	 	1203437	 	6S 43E Sec 10
	JACKSON 215	 	1203438	 	6S 43E Sec 10
	JACKSON 216	 	1203439	 	6S 43E Sec 10
	JACKSON 217	 	1203440	 	6S 43E Sec 9
	JACKSON 218	 	1203441	 	6S 43E Sec 4
	JACKSON 219	 	1203442	 	6S 43E Sec 4
	JACKSON 220	 	1203443	 	6S 43E Sec 4
	JACKSON 221	 	1203444	 	6S 43E Sec 9

 

Amendments pending to Jackson 1 through 24

 

    25

     

    

 

CLAIMS

KINGMAN RARE EARTH PROJECT

MOHAVE COUNTY, ARIZONA

 

	CLAIM	 	AMC #	 	Recording Info	 	T/R/S
	KF#1	 	400313	 	Fee#2010009210	 	22N 17W Sec 26
	KF#2	 	400314	 	Fee#2010009211	 	22N 17W Sec 16
	Dragon X-1	 	432429	 	Fee#2015018285	 	20N 17W Sec 15

 

    26Document

Exhibit 99.1

December 10, 2020

Michael J. Coyle

Dear Mike:
We are pleased to offer you the position of President and Chief Executive Officer of iRhythm Technologies, Inc. (the “Company”) and it will be expected that you join the Company’s Board of Directors (the “Board”). In this capacity, you will be responsible for the overall management of the Company, reporting to the Board.  You shall devote your best efforts and full business time, skill and attention to the performance of your duties. Your service on other boards requires advance approval of the Board and is restricted to non-competitive entities. You may engage in civic and not-for-profit activities as long as such activities do not interfere with the performance of your duties hereunder.  If you decide to join us, the terms and conditions of your employment and benefits are outlined in Exhibit A. You should note that the Company may modify job titles, salaries, and benefits from time to time as it deems necessary.  

In addition, if you decide to join the Company, it will be recommended by the Compensation Committee (the “Compensation Committee”) to the Company's Board of Directors (the “Board”) around February 2021, that the Company grant you equity awards with an aggregate grant date fair value of eleven million dollars ($11,000,000), consisting of the following: 

1.An award of restricted stock units (“RSUs”) covering a number of shares of the Company’s common stock with an aggregate grant date fair value of $6,000,000 which will vest annually over four years at the rate of twenty-five percent (25%) per year, subject to your continuing employment through each vesting date.

2.An award of performance stock units (“PSUs”) covering a number of shares of the Company’s common stock with an aggregate grant date fair value of $5,000,000 which will vest pursuant to performance-based metrics applicable to the Company’s management team generally to be set forth in the Company’s 2021 PSU incentive program, as determined by the Compensation Committee in its sole discretion, subject to your continuing employment through the vesting date. 
 
Each equity award will be subject to the terms and conditions of the Company's 2016 Equity Incentive Plan (as amended from time to time, the “2016 Plan”) and, as applicable, a PSU agreement or RSU agreement thereunder.  

For purposes of this letter, the grant date fair value of each award will be determined in accordance with the Company’s standard equity grant practice, which typically means, with respect to awards of PSUs and RSUs, the grant date fair value will be calculated based on the thirty (30) day average closing price of the Company’s common stock as reported on the Nasdaq Global Select Market for the calendar month prior to approval, or such other methodology the Board or Compensation Committee may determine prior to the grant of the awards becoming effective. 

No right to any stock is earned or accrued until such time that vesting occurs, nor does the grant of the equity awards confer any right to continue vesting or employment.

The Company is excited about your joining and looks forward to a beneficial and productive relationship.  Nevertheless, you should be aware that your employment with the Company is for no specified period and constitutes at‐will employment.  As a result, you are free to resign at any time, for any reason or for no reason. Similarly, the Company is free to conclude its employment relationship with you at any time, with or without cause, and with or without notice.  We request that, in the event of resignation, you give the Company at least two weeks’ notice.

 The Company reserves the right to conduct background investigations and/or reference checks on all of its potential employees.  Your job offer, therefore, is contingent upon a clearance of such a background investigation and/or reference check, if any.

For purposes of federal immigration law, you will be required to provide to the Company documentary evidence of your identity and eligibility for employment in the United States.  Such documentation must be provided to us within three (3) business days of your date of hire, or our employment relationship with you may be terminated.

We also ask that, if you have not already done so, you disclose to the Company any and all agreements relating to your prior employment that may affect your eligibility to be employed by the Company or limit the manner in which you may be employed.  It is the Company's understanding that any such agreements will not prevent you from performing the duties of your position and you represent that such is the case. Moreover, you agree that, during the term of your employment with the Company, you will not engage in any other employment, occupation, consulting or other business 

Exhibit 99.1

activity directly related to the business in which the Company is now involved or becomes involved during the term of your employment, nor will you engage in any other activities that conflict with your obligations to the Company.  Similarly, you agree not to bring any third party confidential information to the Company, including that of your former employer, and that in performing your duties for the Company you will not in any way utilize any such information.

As a Company employee, you will be expected to abide by the Company's rules and standards.  As a condition of your employment, you are also required to sign and comply with an At‐Will Employment, Confidential Information, Invention Assignment, and Arbitration Agreement (“CIIAA”) which requires, among other provisions, the assignment of patent rights to any invention made during your employment at the Company, and non‐disclosure of Company proprietary information.  In the event of any dispute or claim relating to or arising out of our employment relationship, you and the Company agree that (i) any and all disputes between you and the Company will be fully and finally resolved by binding arbitration, (ii) you are waiving any and all rights to a jury trial but all court remedies will be available in arbitration, (iii) all disputes will be resolved by a neutral arbitrator who will issue a written opinion, (iv) the arbitration will provide for adequate discovery, and (v) the Company will pay all the arbitration fees, except an amount equal to the filing fees you would have paid had you filed a complaint in a court of law.  Please note that we must receive your signed CIIAA before your first day of employment.

To accept the Company's offer, please sign and date this letter in the space provided below. If you accept our offer, we anticipate your first day of employment will be Tuesday, January 12, 2021. This letter, along with any agreements relating to proprietary rights between you and the Company, set forth the terms of your employment with the Company and supersede any prior representations or agreements including, but not limited to, any representations made during your recruitment, interviews or pre‐employment negotiations, whether written or oral. This letter, including, but not limited to, its at‐will employment provision, may not be modified or amended except by a written agreement signed by the Chairman of the Board of the Company and you.  This offer of employment will terminate if it is not accepted, signed and returned by December 13, 2020. An At-Will Employment, Confidential Information, Invention Assignment, and Arbitration Agreement will follow in a separate communication should you decide to accept.

We look forward to your favorable reply and to working with you at iRhythm Technologies, Inc.

Sincerely,

			
	/s/ Abhijit Y. Talwalkar 

	Abhijit Y. Talwalkar 

	Chairman of the Board of Directors 

						
		Agreed to and accepted:
	Signature:	/s/ Michael J. Coyle
	Printed Name: 	Michael J. Coyle

	Date:	December 10, 2020

Exhibit 99.1

Exhibit A

Services and Benefits for Michael J. Coyle

Position: President and Chief Executive Officer and Director

Base Pay Rate: You will be a full-time employee, with a base rate of $660,000 annually, which will be earned and payable in substantially equal installments in accordance with the Company’s payroll policy. 

Bonus:  Each calendar year, you will be eligible to earn a bonus of 100% of your annual base salary at the time of bonus approval.  The bonus will be based on achievement of financial targets and/or other performance objectives set by the Company, and the earned bonus will generally be paid within 90 days after the close of a calendar year.  The eligible bonus amount will be prorated for any calendar quarter in which you are not employed for an entire quarter, and you must be employed on the date that your bonus, if any, is paid in order to earn and be eligible to receive the bonus.
 
Relocation Assistance:  You will receive a one-time payment in the amount of $850,000 to use related to your relocation to the Bay Area. This bonus (the “Relocation Bonus”) will be paid in one lump sum on the next regularly scheduled pay date after you start employment with the Company, and all regular payroll taxes will be withheld. As a condition of your employment under this letter, you will be required to relocate your primary residence to the San Francisco Bay Area on or prior to October 1, 2021.

In the event your employment with the Company is terminated within 24 months of your date of hire due to your resignation without Good Reason, as defined in our Change of Control and Severance Policy, or (2) your termination for Cause, as defined in our Change of Control and Severance Policy, you will be responsible for reimbursing the Company for a portion of the full amount of the Relocation Bonus within 60 days of your employment termination date, with such portion equal to the product (rounded to the nearest whole cent) of: (i) the gross amount of the Relocation Bonus multiplied by (ii) a fraction (A) the numerator of which is equal to the difference between (x) 24 minus (y) the number of completed months you have served as the Company’s regular, full-time Chief Executive Officer as measured immediately prior to your termination date and (B) the denominator of which is 24.  By your signature on this offer of employment, you authorize the Company to withhold the portion of the Relocation Bonus calculated pursuant to the prior sentence from any separation payments and/or other final pay you receive upon such termination of employment.

From January 12 through September 30, 2021, the Company will provide you with access to a corporate apartment near the Company’s headquarters.  The monthly value of your access to the corporate apartment will be treated as compensation to you and subject to applicable withholdings (such value, the “Apartment Benefit”).  In addition, in order to make the Apartment Benefit tax neutral to you, the Company will provide to you an amount or amounts (the “Tax Neutrality Payment”), determined by the Company after consultation with you, to be necessary to pay federal, state, local and non-U.S. income and employment taxes, if any, incurred by you (i) arising as a result of the Apartment Benefit, and (ii) arising from the payments made to you pursuant to this sentence.  The Tax Neutrality Payment will be calculated by the Company based on the highest marginal rates actually in effect for you at the time or times the applicable taxes related to the Apartment Benefit are due, and the Company’s determination of the Tax Neutrality Payment will be final and binding.  The Tax Neutrality Payment will be paid either to you or to the relevant taxing authorities on your behalf, or a combination thereof, as soon as practicable following the date such amounts are due to the applicable taxing authorities, and may be paid in installments as due. The Tax Neutrality Payment is intended to be a payment described in Treasury Regulation 1.409A-3(i)(1)(v), and as such in all events will be paid no later than the end of your taxable year next following your taxable year in which you are required to remit the related taxes to the taxing authorities.

Benefits and Expenses: You will be entitled to participate in the benefit plans and programs generally available from time to time to employees of the Company, subject to the terms of such plans and programs. This includes four weeks per year of Paid Time Off, in addition to specified Holidays, among other benefits.

Severance: You may be eligible to receive severance benefits in the event your employment is terminated under certain conditions pursuant to the terms of our Change of Control and Severance Policy and a participation agreement thereunder.

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