Document:

Exhibit 10.2

 

AGREEMENT OF PURCHASE AND SALE

 

THIS AGREEMENT made
as of the 17th day of December, 2014,

 

BETWEEN:

 

1824455 ALBERTA LTD., a
body corporate having an office and carrying on business in the City of Calgary in the Province of Alberta (the "Vendor")

 

- and -

 

CONSOLIDATED GOLDFIELDS CORPORATION,
a Montana corporation having an office and carrying on business in the City of Reno in the State of Nevada ("Purchaser")

 

Whereas:

 

Vendor is the sole
legal and beneficial owner of a one hundred (100%) percent right, title and interest in and to the Property and all Technical Information.

 

Vendor has agreed to
sell to Purchaser, and Purchaser has agreed to purchase and acquire from Vendor, a one hundred (100%) percent right, title and
interest in and to the Properties and all Technical Information, free and clear of any Encumbrances, on the terms and conditions
set out in this Agreement.

 

In connection with
this Agreement Vendor and Purchaser intend on entering into the Escrow Agreement and the Production Royalty Agreement (each as
defined below).

 

NOW THEREFORE THIS
AGREEMENT WITNESSETH that in consideration of the premises and the mutual covenants and agreements hereinafter set forth, the Parties
have agreed as follows:

 

Article
1

INTERPRETATION

 

		1.1	Definitions

 

In this Agreement,
unless the context otherwise requires:

 

		(a)	"Business Day" ” means a day other than a Saturday, a Sunday or any other
day on which the principal chartered banks located in Calgary, Alberta are not open for business;

 

		(b)	"Closing" means the closing of the purchase and sale herein provided for;

 

     

     

    

  

		(c)	"Closing Date" means December 17, 2014 or such other time and date as may
be agreed upon in writing by Vendor and Purchaser;

 

		(d)	"Closing Place" means the offices of Purchaser, or such other place as may be
agreed upon in writing by Vendor and Purchaser;

 

		(e)	"Escrow Agreement" means the escrow agreement dated as of the Closing Date between
the Parties, in the form as attached at Schedule "C";

 

		(f)	“Financing” means the first sale of equity or debt securities, or a combination
of equity and debt securities, for cash for Purchaser’s account; provided, however, that “Financing” shall not
include (i) securities issued or sold pursuant to this Agreement; (ii) securities issued upon exercise of options, warrants or
other convertible securities outstanding on the date of this Agreement; (iii) securities issued pursuant to a dividend, stock split,
split-up or other distribution on outstanding securities of Purchaser; (iv) securities issued pursuant to the acquisition of assets
or of another entity by Purchaser by merger, purchase of a portion or all or substantially all of the assets or other reorganization,
joint venture agreement or other business combination transaction; (v) securities issued to officers, directors, employees, consultants,
advisors or contractors pursuant to compensation, consulting, employment or severance agreements or stock option, stock purchase
or other equity incentive plans or arrangements on terms approved by the Board of Directors of Purchaser, provided, that in each
case the primary purpose of such issuance is not to raise capital as determined in good faith by the Board of Directors of Purchaser;

 

		(g)	“Losses” means all damages, expenses, losses, obligations, responsibilities,
liabilities (whether accrued, actual, contingent, latent or otherwise) claims and demands of whatever nature or kind including
all legal fees and costs on a solicitor and client basis.

 

		(h)	“McClelland Lake Property” means the applications for Alberta Metallic and Industrial
Minerals Permits Nos. A93 140158005, A93 140158003 and A93 140158004, as further set out in and described in Schedule A hereto.

 

		(i)	"Party" means a party to this Agreement;

 

		(j)	"Project" means the development and operation of a project designed to produce
and sell Product from the Property;

 

		(k)	"Product" means all marketable naturally occurring metallic and non-metallic minerals
or mineral bearing material in whatever form or state, including, without limitation, any precious metal, any base metal, coal,
diamonds, salt and rock, sand, gravel or aggregate, that is mined, extracted, removed, produced or otherwise recovered from the
Property, whether in the form of ore, doré, concentrates, refined metals or any other beneficiated or derivative products
thereof and including any such minerals or mineral bearing materials or products derived from any processing or reprocessing of
any tailings, waste rock or other waste products originally derived from the Property;

 

     

     

    

  

		(l)	"Production Royalty Agreement" means the production royalty agreement, pertaining
to the Property, dated as of the Closing Date between the Parties, in the form as attached at Schedule "D".

 

		(m)	"Property" means, collectively, the McClelland Lake Property, the Tofield Onoway
Property, the Tofield Property and the Washow Peninsula Property and all other properties in which Purchaser or an affiliate of
Purchaser acquires, directly or indirectly, a beneficial interest that are located within:

 

		(i)	a 20 km radius of the outer boundary of the area encompassed by the respective Alberta Metallic
and Industrial Minerals Permits and Quarry Leases, as the case may, of each of the McClelland Lake Property, the Tofield Onoway
Property and the Tofield Property; and

 

		(ii)	a 50 km radius of the outer boundary of the area encompassed by the respective Quarry Leases of
the Washow Peninsula Property.

 

		(n)	"Property Conveyance" means the conveyance in the form attached as Schedule "B"
to be executed at Closing conveying the Property from Vendor to Purchaser;

 

		(o)	"Purchase Price" means an aggregate of $2.75 million, payable by Purchaser to
Vendor in cash and Purchase Price Shares in accordance with Section 2.2;

 

		(p)	"Purchase Price Shares" means an aggregate of 47,000,000 shares of common stock,
par value US$0.001 per share, of Purchaser;

 

		(q)	“Technical Information” means any books, records, data, reports or other information
of any kind whatsoever, any format whatsoever (including in electronic format) relating to the Property owned by and in the control
of Vendor, including all surveys, plans, specifications, maps, drill core samples, other samples and assays relating to the Property;

 

		(r)	“Tofield Onoway Property” means the application for Alberta Metallic and Industrial
Minerals Permits No. A93 140190601, as further set out in and described in Schedule A hereto;

 

		(s)	“Tofield Property” means the application for Alberta Metallic and Industrial
Minerals Permit for approximately 35,000 hectares, as further set out in and described in Schedule A hereto;

 

		(t)	"this Agreement", "herein", "hereto", "hereof"
and similar expressions mean and refer to this Agreement of Purchase and Sale; and

 

     

     

    

  

		(u)	Washow Peninsula Property” means the applications for Manitoba quarry leases QL 2944,
QL 2948, QL 2949, QL 2946, QL 2950, QL 2945, QL 2951 and QL 2947, as further set out in and described in Schedule A hereto.

 

		1.2	Headings

 

The expressions "Article",
"section", "subsection", "clause", "subclause", "paragraph" and "Schedule"
followed by a number or letter or combination thereof mean and refer to the specified article, section, subsection, clause, subclause,
paragraph and schedule of or to this Agreement.

 

		1.3	Interpretation Not Affected by Headings

 

The division of this
Agreement into Articles, sections, subsections, clauses, subclauses and paragraphs and the provision of headings for all or any
thereof are for convenience and reference only and shall not affect the construction or interpretation of this Agreement.

 

		1.4	Included Words

 

When the context reasonably
permits, words suggesting the singular shall be construed as suggesting the plural and vice versa, and words suggesting gender
or gender neutrality shall be construed as suggesting the masculine, feminine and neutral genders.

 

		1.5	Currency

 

All references in this
Agreement to "dollars" or "$" are, unless otherwise specifically indicated, expressed in Canadian currency.

 

		1.6	Schedules

 

There are appended
to this Agreement the following Schedules pertaining to the following matters:

 

	Schedule "A"	-	Description of Property
	Schedule "B"	-	Form of Property Conveyance
	Schedule "C"	-	Form of Escrow Agreement
	Schedule "D"	-	Form of Production Royalty Agreement

 

Such Schedules are incorporated herein
by reference as though contained in the body hereof. Wherever any term or condition of such schedules conflicts or is at variance
with any term or condition in the body of this Agreement, such term or condition in the body of this Agreement shall prevail.

 

     

     

    

  

Article
2

PURCHASE AND SALE

 

		2.1	Purchase and Sale

 

Vendor hereby agrees
to sell, assign, transfer, convey and set over to Purchaser, and Purchaser hereby agrees to purchase from Vendor, all of the right,
title, estate and interest of Vendor (whether absolute or contingent, legal or beneficial) in and to the Property and the Technical
Information subject to and in accordance with the terms of this Agreement.

 

		2.2	Settlement of Purchase Price

 

Purchaser shall pay
the Purchase Price to Vendor through a combination of cash and Purchase Price Shares. The Purchase Price shall be paid and delivered
by Purchaser to Vendor as follows:

 

		(a)	At Closing, (i) an aggregate of 23,500,000 Purchase Price Shares shall be issued and delivered
by Purchaser to Vendor; (ii) $50,000 cash shall be paid by Purchaser to Vendor by wire transfer; and (iii) an aggregate of 23,500,000
Purchase Price Shares shall be issued by Purchaser in the name of Vendor and delivered to the escrow agent pursuant to the Escrow
Agreement to be held in and released from escrow and delivered to Vendor in accordance with the applicable terms and conditions
of the Escrow Agreement;

 

		(b)	$50,000 cash shall by paid by Purchaser to Vendor by wire transfer within forty-five (45) days
of Closing; and

 

		(c)	$175,000 cash shall be paid by Purchaser to Vendor by wire transfer concurrently with the completion
by Purchaser of the Financing.

 

The Purchase
Price shall be allocated among the Property and the Technical Information as follows:

  

	(i)	McLelland Property	$1,150,000.00
	 	 	 
	

                                                  (ii)
	Tofield Onaway Property and the Tofield Property	$1,100,000.00
	 	 	 
	(iii)	Washow Peninsula Property	$500,000.00
	 	 	 
	(iv)	Technical Information	nil
	 	 	 
	 	Total:	$2,750,000.00

 

The Parties
agree that any further allocation or breakdown of the Purchase Price to or among specific Properties for the purposes of the Income
Tax Act (Canada) shall be carried out on a proportionate basis having regard to their relative fair market values as at the
Closing Date.

 

     

     

    

  

		2.3	Production Royalty

 

In
addition to the payment of the Purchase Price, Purchaser hereby grants and agrees to pay Vendor a royalty generated from the Product
subject to and in accordance with the Production Royalty Agreement.

 

		2.4	G.S.T.

 

The
Parties hereby agree that the Purchase Price is exclusive of any applicable Goods and Services Tax ("GST")
imposed by Part IX of the Excise Tax Act (Canada). Purchaser’s GST Number is
 ̈ and Purchaser shall self-assess any applicable GST in respect of the transactions contemplated by this
Agreement.

 

Article
3

closing

 

		3.1	Closing

 

Closing shall take
place at the Closing Place at the Closing Date if there has been satisfaction or waiver of the conditions of Closing herein contained.
Subject to all other provisions of this Agreement, possession, risk and beneficial ownership of Vendor's interest in and to the
Property shall pass from Vendor to Purchaser at the Closing Date.

 

		3.2	Vendor Closing Deliveries

 

Unless otherwise agreed
to by the Parties, at Closing, Vendor shall deliver or cause to be delivered, the following to Purchaser:

 

		(a)	the Property Conveyance, in the form attached as Schedule "B", executed by Vendor;

 

		(b)	the Escrow Agreement executed by Vendor;

 

		(c)	the Production Royalty Agreement executed by Vendor;

 

		(d)	a proxy executed by Vendor in favor of Purchaser relating to the Purchase Price Shares in form
and substance reasonably satisfactory to Purchaser; and

 

		(e)	such other documents as may be reasonably required to be delivered by Purchaser at Closing pursuant
to this Agreement.

 

		3.3	Purchaser Closing Deliveries

 

Unless otherwise agreed
to by the Parties, at Closing, Purchaser shall deliver or cause to be delivered, the following to Vendor:

 

		(a)	the Property Conveyance, in the form attached as Schedule "B", executed by Purchaser;

 

     

     

    

  

		(b)	the Escrow Agreement executed by Purchaser;

 

		(c)	the Production Royalty Agreement executed by Purchaser;

 

		(d)	evidence of delivery into escrow of the Purchase Price Shares in accordance with Section 2.2(a)
in form and substance reasonably satisfactory to Vendor;

 

		(e)	the portion of the Purchase Price required to be paid and delivered at Closing in accordance with
Section 2.2(a); and

 

		(f)	such other documents as may be reasonably required to be delivered by Vendor at Closing pursuant
to this Agreement.

 

Article
4

REPRESENTATIONS, WARRANTIES AND CERTAIN COVENANTS

 

		4.1	Representations and Warranties of Vendor

 

Vendor hereby makes
the following representations and warranties to Purchaser:

 

		(a)	Vendor is a corporation duly organized and validly existing under the laws of the jurisdiction
of incorporation of Vendor, is authorized to carry on business in the Province in which the Property is located, and now has good
right, full power and absolute authority to sell, assign, transfer, convey and set over the interest of Vendor in and to the Property
according to the true intent and meaning of this Agreement;

 

		(b)	the execution, delivery and performance of this Agreement has been duly and validly authorized
by any and all requisite corporate, shareholders' and directors' actions and will not result in any violation of, be in conflict
with or constitute a default under any articles, charter, bylaw or other governing document to which Vendor is bound;

 

		(c)	the execution, delivery and performance of this Agreement will not result in any violation of,
be in conflict with or constitute a default under any term or provision of any agreement or document to which Vendor is party or
by which Vendor is bound, nor under any judgment, decree, order, statute, regulation, rule or license applicable to Vendor;

 

		(d)	this Agreement and any other agreements delivered in connection herewith constitute valid and binding
obligations of Vendor enforceable against Vendor in accordance with their terms;

 

		(e)	no authorization or approval or other action by, and no notice to or filing with, any governmental
authority or regulatory body exercising jurisdiction over the Property is required for the due execution, delivery and performance
by Vendor of this Agreement, other than authorizations, approvals or exemptions from requirement therefor, previously obtained
and currently in force;

 

     

     

    

  

		(f)	Vendor is not a non-resident within the meaning of section 116 of the Income Tax Act
(Canada);

 

		(g)	Vendor has good, valid and marketable legal and beneficial title to the Property, free and clear
of all liens, encumbrances, security interests and claims of third parties;

 

		(h)	no suit, action or other proceeding before any court or governmental agency has been commenced
against Vendor or, to the knowledge, information and belief of Vendor, has been threatened against Vendor or any third party, which
might result in impairment or loss of the interest of Vendor in and to the Property or which might otherwise adversely affect the
Property or any rights to, and rights to enter upon, use or occupy the surface of any lands which are or may be used to gain access
to or otherwise use the Property;

 

		(i)	all amounts due and payable to third parties prior to the date hereof and pertaining to the Property
have been fully paid;

 

		(j)	Vendor is not aware of, has not received and has no reason to believe that cause exists for:

 

		(i)	any orders or directives which relate to environmental matters and which require any work, repairs,
construction or capital expenditures with respect to the Property, where such orders or directives have not been complied with
in all material respects;

 

		(ii)	any demand or notice issued with respect to the breach of any environmental, health or safety law
applicable to the Property, including without limitation, respecting the use, storage, treatment, transportation or disposition
of environmental contaminants, which demand or notice remains outstanding on the date hereof;

 

		(k)	all data and other information relating to the Property that is known to Vendor and that either
concerns a matter that has had or could reasonably be expected to have a material adverse effect on the Property or prospective
operations on the Property or that could otherwise be material to a purchaser of the Property has been disclosed in writing to
Purchaser and none of which contains any untrue statement of material fact or omits to state any material fact necessary, in light
of the circumstances under which it was made, to make the statements therein not misleading;

 

		(l)	Vendor understands that the offer and the sale of the Purchase
Price Shares has not been registered under the Securities Act of 1933, as amended (the “Securities Act”)
or any U.S. state securities law by reason of specific exemptions under the provisions thereof which depend in part upon the investment
intent of Vendor and of the other representations made by Vendor in this Agreement. Vendor understands that Purchaser is relying
upon the representations, covenants and agreements contained in this Agreement (and any supplemental information) for the purposes
of determining whether this transaction meets the requirements for such exemptions;

 

     

     

    

  

		(m)	Vendor agrees to furnish any additional information requested
to assure compliance with applicable U.S. securities laws in connection with the purchase and sale of the Purchase Price Shares;

 

		(n)	This Agreement is being executed by Vendor outside the United
States (as defined in Rule 902(l) of Regulation S under the Securities Act) and Vendor is acquiring the Purchase Price Shares in
an Offshore Transaction (as defined in Rule 902(h) of Regulation S). The Purchase Price Shares were not offered to Vendor in the
United States, and at the time of execution of this Agreement by Vendor and at the time of any offer to Vendor to purchase the
Purchase Price Shares hereunder, Vendor was outside of the United States. Vendor is not a U.S. Person (as defined in Rule 902(k)
of Regulation S);

 

		(o)	Vendor is acquiring the Purchase Price Shares for its own account for investment, for investment
purposes and not with a view to or for resale in connection with any distribution of the Purchase Price Shares. Vendor has not
offered or sold any portion of the Purchase Price Shares and has no present intention of dividing the Purchase Price Shares with
others or of selling, distributing or otherwise disposing of any portion of the Purchase Price Shares either currently or after
the passage of a fixed or determinable period of time or upon the occurrence or non-occurrence of any predetermined event or circumstance.
Vendor is not a “distributor” (as defined in Rule 902(d) of Regulation S);

 

		(p)	Vendor is not acquiring the Purchase Price Shares pursuant to an arrangement with a purchaser in
the United States who is a U.S. person, nor is Vendor’s purchase of the Purchase Price Shares part of a plan or scheme to
evade the registration provision of the Securities Act;

 

		(q)	Vendor understands that the Purchase Price Shares are “restricted securities” under
applicable federal securities laws and that the Securities Act and the rules of the Securities and Exchange Commission (the “Commission”)
provide in substance that Vendor may dispose of the Purchase Price Shares only pursuant to an effective registration statement
under the Securities Act or an exemption therefrom, and Vendor understands that Purchaser has no obligation or intention to register
any of the Purchase Price Shares purchased by Vendor hereunder or to take action so as to permit sales pursuant to the Securities
Act (including Rule 144 thereunder). As a consequence, Vendor understands that there is no public market for the Purchase Price
Shares and Vendor therefore must bear the economic risks of the investment in the Purchase Price Shares for an indefinite period
of time. Vendor understands that Vendor may not at any time demand the purchase by Purchaser of Vendor’s Shares;

 

     

     

    

  

		(r)	Vendor understands that the sale of the Purchase Price Shares
has not been registered under the Securities Act in reliance upon an exemption therefrom for non-public or limited offerings or
in accordance with the provisions of Regulation S. Vendor covenants that it will not make any resale, transfer or other disposition
of the Purchase Price Shares except in accordance with the provisions of Regulation S (Rule 901 through 905 and Preliminary Notes),
pursuant to registration under the Securities Act, or pursuant to an available exemption from registration (accompanied by an opinion
of counsel acceptable to Purchaser that such resale, transfer or other disposition is exempt from the registration provisions of
all applicable federal and state laws). Vendor agrees not to engage in any hedging transactions with regard to the Purchase Price
Shares (or any securities issued upon conversion thereof) unless the same are in compliance with the Securities Act. Vendor understands
and agrees that Purchaser makes no representation as to the compliance with applicable local laws of any territory or jurisdiction
outside the Unties States in connection with the purchase of the Purchase Price Shares;

 

		(s)	Vendor is not subscribing for Shares as a result of or subsequent to any advertisement, article,
notice or other communication published in any newspaper, magazine, or similar media or broadcast over television or radio, or
presented at any seminar or meeting;

 

		(t)	Vendor agrees: (i) that Vendor will not sell, assign, pledge, give, transfer or otherwise dispose
of the Purchase Price Shares or any interest therein, or make any offer or attempt to do any of the foregoing, except pursuant
to a registration of the Purchase Price Shares under the Securities Act and all applicable U.S. state securities laws or in a transaction
which is exempt from the registration provisions of the Securities Act and all applicable U.S. state securities laws; (ii) that
Purchaser and any transfer agent for the Purchase Price Shares shall not be required to give effect to any purported transfer of
any of the Purchase Price Shares except upon compliance with the foregoing restrictions; and (iii) that a legend in substantially
the following form will be placed on the certificates representing the Purchase Price Shares:

 

“The shares represented by
this certificate have not been registered under any securities laws and the transferability of the shares therefore is restricted.
The shares may not be sold, assigned or transferred, nor will any assignee, vendee, transferee, or endorsee hereof be recognized
as having an interest in such shares by the Issuer for any purpose, unless (i) a registration statement under the Securities Act
of 1933, as amended, with respect to such shares shall then be in effect and such transfer has been qualified under applicable
state securities laws, or unless (ii) the availability of an exemption from registration and qualification shall be established
to the satisfaction of counsel for the Issuer, or (iii) in accordance with the provisions of Regulation S under the Securities
Act of 1933, as amended. Hedging transactions involving the shares may not be conducted unless they are in compliance with the
Act.”

 

     

     

    

  

		(u)	Stop transfer instructions have been or will be placed on any
certificates or other documents evidencing the Purchase Price Shares so as to restrict the resale, pledge, hypothecation or other
transfer thereof in accordance with the provisions hereof. The parties agree that Purchaser shall refuse to register any transfer
of the Purchase Price Shares (or any securities issued upon conversion or exchange thereof) not made in accordance with the provisions
of Regulation S (Rule 901 through 905, and Preliminary Notes), pursuant to registration under the Securities Act or pursuant to
an available exemption from registration under the Securities Act (accompanied by an opinion of counsel acceptable to Purchaser
that such resale, transfer or other disposition is exempt from the registration provisions of all applicable federal and state
laws). Purchaser shall not treat as the owner of the Purchase Price Shares (or any securities issued upon conversion thereof),
or otherwise accord voting or dividend rights to, any transferee to whom Shares have been transferred in contravention of this
Agreement;

 

		(v)	Vendor is an “accredited investor” within the meaning
of Rule 501(a) under the Securities Act. Vendor acknowledges that an investment in the Purchase Price Shares is speculative and
that it has such knowledge and experience in financial and business matters so as to be capable of evaluating the merits and risks
of an investment in the Purchase Price Shares and it is able to bear the economic risk of loss of such investment. Vendor is familiar
with the business and financial condition, properties, operations and prospects of Purchaser, and, at a reasonable time prior to
the execution of this Agreement, has been afforded the opportunity to ask questions of and received satisfactory answers from Purchaser's
officers and directors concerning the business and financial condition, properties, operations and prospects of Purchaser and concerning
the terms and conditions of the offering of the Purchase Price Shares and has asked such questions as it desires to ask and all
such questions have been answered to the full satisfaction of Vendor. All documents, records and books pertaining to a proposed
investment in the Purchase Price Shares which Vendor has requested have been made available to Vendor; and

 

		(w)	Vendor understands that, unless Vendor notifies Purchaser in writing to the contrary before the
release of any portion of the Purchase Price Shares to Vendor pursuant to the Escrow Agreement, all the representations and warranties
contained in Sections 4.1(l) through (w) of this Agreement will be deemed to have been reaffirmed and confirmed as of such release,
taking into account all information received by Vendor.

 

		4.2	Disclaimers

 

Except as otherwise expressly set forth in
this Agreement Vendor makes no representations or warranties of any kind or nature, express or implied, at law or in equity, with
respect to itself, the Property or any portion thereof, and Vendor expressly disclaims any implied warranties or any other representation
or warranty whatsoever.

 

     

     

    

 

 

		4.3	As-Is, Where Is

 

Purchaser expressly
acknowledges and agrees that it is relying on its own examination of the Property, and is purchasing the Property, on an “as
is, where is” basis.

 

		4.4	Representations and Warranties of Purchaser

 

Purchaser hereby makes
the following representations and warranties to Vendor:

 

		(a)	Purchaser is a corporation duly organized and validly existing under the laws of the jurisdiction
of incorporation of Purchaser, is authorized to carry on business in the Province in which the Property is located, and now has
good right, full power and absolute authority to purchase the interest of Vendor in and to the Property according to the true intent
and meaning of this Agreement;

 

		(b)	the execution, delivery and performance of this Agreement has been duly and validly authorized
by any and all requisite corporate, shareholders' and directors' actions and will not result in any violation of, be in conflict
with or constitute a default under any articles, charter, bylaw or other governing document to which Purchaser is bound;

 

		(c)	the execution, delivery and performance of this Agreement will not result in any violation of,
be in conflict with or constitute a default under any term or provision of any agreement or document to which Purchaser is party
or by which Purchaser is bound, nor under any judgment, decree, order, statute, regulation, rule or license applicable to Purchaser;

 

		(d)	this Agreement and any other agreements delivered in connection herewith constitute valid and binding
obligations of Purchaser enforceable against Purchaser in accordance with their terms;

 

		(e)	no authorization or approval or other action by, and no notice to or filing with, any governmental
authority or regulatory body exercising jurisdiction over the Property is required for the due execution, delivery and performance
by Purchaser of this Agreement, other than authorizations, approvals or exemptions from requirement therefor, previously obtained
and currently in force;

 

		(f)	Purchaser has not incurred any obligation or liability, contingent or otherwise, for brokers' or
finders' fees in respect of this Agreement or the transaction to be effected by it for which Vendor shall have any obligation or
liability; and

 

		(g)	Purchaser has made its own independent investigation, analysis, evaluation and inspection of the
Property and the state and condition thereof and that it has relied solely on such investigation, analysis, evaluation and inspection
as to its assessment of the quantum and value of the Property.

 

     

     

    

  

		4.5	Registration Rights

 

		(a)	Subject to Section 4.5(b) below, as soon as reasonably practicable following the date of this Agreement,
Purchaser shall file a registration statement under the Securities Act, on a form which is suitable for an offering for cash of
common equity securities of Purchaser held by third parties and which is not a registration solely to implement an employee benefit
plan, a registration statement on Form S-4 (or successor form) or a transaction to which Rule 145, promulgated under the Securities
Act, or any other similar rule of the Securities and Exchange Commission (the “SEC”) is applicable. Subject to Sections
4.5(b) and (c) below, Purchaser will use commercially reasonable efforts to effect the registration of the Purchase Price Shares
under the Securities Act.

 

		(b)	Purchaser shall have no obligation under Section 4.5(a) above (i) unless Purchaser and Vendor,
acting reasonably and in good faith, enter into a mutually agreeable agreement relating to the rights and obligations of the parties
with respect to the transactions contemplated by Section 4.5(a), including agreements of the selling security holder of the Purchase
Price Shares named in the registration statement with respect to providing information required for the preparation of the registration
statement, customary information requirements of a selling security holder, manner of offering and sale of the Purchase Price Shares
and customary indemnification agreements; or (ii) if Purchaser determines that the registration contemplated by Section 4.5(a)
above would not be permitted under applicable law or SEC rules and regulations without undue hardship or expense.

 

		(c)	The parties agree and acknowledge that the approval of the SEC, and the acceleration or declaration
of the effectiveness of the registration statement by the SEC, is out of the control of the Company and subject to numerous uncertainties
and the success of such efforts cannot be assured.

 

Article
5

indemnities and environmental matters

 

		5.1	Vendor's Indemnification of Purchaser

 

Subject to the provisions
of this‎ Article 5 and provided that Closing occurs, Vendor will indemnify and hold harmless Purchaser, and its directors,
officers, employees and agents (collectively, the “Purchaser Indemnified Parties”) from and against any and all Losses
of any kind that are caused by, arise from, are incurred in connection with or relate in any way to Vendor’s breach of:

 

		(a)	any covenant or agreement in this Agreement requiring performance by Vendor before, on or after
the Closing Date; and

 

		(b)	any representation or warranty of Vendor in this Agreement that survives the Closing;

 

provided, however, that
Vendor will not have any liability for Losses that are the subject of Purchaser’s indemnity in Section ‎5.2.

 

     

     

    

  

		5.2	Purchaser's Indemnification of Vendor

 

Except as otherwise
provided herein and subject to the provisions of this Article 5, provided that Closing occurs, Purchaser will indemnify and hold
harmless Vendor, and its directors, officers, employees and agents (collectively, the “Vendor Indemnified Parties”)
from and against all Losses of any kind that are caused by, arise from, are incurred in connection with or relate in any way to
Purchaser’s breach of:

 

		(a)	any covenant or agreement in this Agreement requiring performance by Purchaser before, on or after
the Closing Date; and

 

		(b)	any representation or warranty of Purchaser in this Agreement that survives the Closing; and

 

provided, however, that Purchaser will
not have any liability for Losses that are the subject of Vendor’s indemnity in Section 5.1.

 

		5.3	Environmental Matters

 

		(a)	Purchaser acknowledges that it is familiar with the condition of the Property, including their
past and present use, and that Vendor has provided Purchaser with a reasonable opportunity to inspect the Property and to conduct
due diligence investigations with respect to environmental damage or contamination or other environmental problems pertaining to
or caused by the Property or operations thereon or related thereto (collectively, the “Environmental Liabilities”).
Purchaser further acknowledges and confirms that it is not relying upon any representation or warranty of Vendor as to the condition,
environmental or otherwise, of the Property, except as is expressly made under Section 4.1(j).

 

		(b)	Except as provided in Section 4.1(j), Vendor makes no warranty or representation, express, implied,
statutory or otherwise, with respect to Environmental Liabilities and will, have no obligation in respect of Environmental Liabilities
to Purchaser. In addition to its obligations to indemnify Vendor Indemnified Parties contained elsewhere in the Agreement, subject
to Closing occurring, Purchaser will be solely liable for and will indemnify and hold harmless Vendor Indemnified Parties from
and against all Losses of any kind that may be brought against or suffered by Vendor Indemnified Parties or that any of them may
sustain, pay or incur, in each case that are caused by, arise from, are incurred in connection with or relate in any way directly
or indirectly to any Environmental Liabilities arising as a result, directly or indirectly, of activities occurring after the date
of this Agreement. Purchaser hereby assumes all Losses, obligations, covenants and liabilities in respect of any such Environmental
Liabilities.

 

     

     

    

  

		(c)	Purchaser acknowledges and agrees that it shall not be entitled to any rights or remedies under
the common law or statute pertaining to such Environmental Liabilities relative to Vendor including, without limitation, the right
to name Vendor as a third party to any action commenced by any person against Purchaser and Purchaser hereby releases and discharges
Vendor from any claims Purchaser may have against Vendor with respect to all such Environmental Liabilities. Purchaser further
acknowledges that it shall be solely and completely responsible for any and all Losses, both direct and indirect and including
future profits, relating to and arising out of Environmental Liabilities pertaining to the Property. Nothing herein contained shall
prejudice any claims or remedies that Vendor may have against Purchaser in relation to Environmental Liabilities that are beyond
the scope of this Agreement, including rights and remedies under the common law or pursuant to statute.

 

		(d)	Notwithstanding anything to the contrary in this Agreement, the rights and obligations in this
Section 5.3 shall survive Closing and any claim brought under Section 5.3 shall not be restricted by time or limited by the failure
to provide any notice within the time or in the manner contemplated in this Article 5.

 

		5.4	Limitation

 

Notwithstanding any
other provision in this Agreement neither Party shall be liable to or be required to indemnify the other Party for consequential,
incidental, indirect or punitive damages, for any reason with respect to any matter arising out of or relating to this Agreement,
unless such consequential, incidental, indirect or punitive damages are awarded to a third party.

 

Article
6

non-compete

 

		6.1	Non-Compete

 

Vendor hereby agrees
that it will not:

 

		(a)	initiate, propose, assist or participate in any activities in opposition to or in competition with
the Project;

 

		(b)	undertake any transaction or negotiate any transaction which would be or potentially could be in
conflict with the Project; nor

 

		(c)	take actions of any kind which may reduce the likelihood
of success of the Project,

 

in
respect of property located within a 20 km radius of the outer boundary of the area encompassed by the respective Alberta Metallic
and Industrial Minerals Permits and Quarry Leases, as the case may, of each of the McClelland Lake Property and the Washow Peninsula
Property without the express written consent of Purchaser, which consent may be arbitrarily withheld in Purchaser's sole discretion.

 

     

     

    

  

		6.2	Purchase Right

 

Vendor agrees that Purchaser
has the right to acquire, for no additional consideration, fifty (50%) percent of Vendor’s interest in any properties subject
to a Alberta Metallic and Industrial Minerals Permits that are located within the 20 km radius of the outer boundary of the area
encompassed by the respective Alberta Metallic and Industrial Minerals Permits of the Tofield Onoway Property and the Tofield Property.
Such right may be exercised by Purchaser providing Vendor a written election to acquire such property within twenty-one (21) days
of being notified by Vendor of Vendor’s acquisition of such interest.

 

		6.3	Production Royalty

 

		(a)	All properties located within a 20 km radius of the outer boundary of the area encompassed by the
respective Alberta Metallic and Industrial Minerals Permits of each of the McClelland Lake Property, the Tofield Onoway Property
and the Tofield Property in which Purchaser or an affiliate of Purchaser acquires, directly or indirectly, a beneficial interest
will become properties subject to the Production Royalty Agreement. Upon all such acquisitions, Purchaser shall provide Vendor
with prompt notice of such acquisition and forthwith provide Vendor an executed supplement to the Production Royalty Agreement
that gives effect to this Section.

 

		(b)	All properties located within a 50 km radius of the outer boundary of the area encompassed by the
respective leases which comprise the Washow Peninsula Property in which Purchaser or an affiliate of Purchaser acquires, directly
or indirectly, a beneficial interest will become properties subject to the Production Royalty Agreement. Upon all such acquisitions,
Purchaser shall provide Vendor with prompt notice of such acquisition and forthwith provide Vendor an executed supplement to the
Production Royalty Agreement that gives effect to this Section.

 

Article
7

confidentiality

 

		7.1	Confidentiality

 

		(a)	No disclosure or announcement, public or otherwise, in respect of this Agreement or the transactions
contemplated herein will be made by either Party without the prior agreement of the other Party as to timing, content and method,
hereto, provided that the obligations herein will not prevent the Parties from making, after consultation with each other, such
disclosure as its counsel advises is required by applicable law, rule or policy, including but not limited to any rules, regulations
or policies of any applicable stock exchange or stock quotation service.

 

		(b)	Except with the prior written consent of the other party, each of the parties hereto and their
respective employees, officers, directors, shareholders, agents, advisors and other representatives will hold all information received
from the other party in strictest confidence, except such information and documents available to the public or as are required
to be disclosed by applicable law, rule or policy, including but not limited to any rules, regulations or policies of any applicable
stock exchange or stock quotation service.

 

     

     

    

  

		(c)	All such information in written form and documents will be returned to the party originally delivering
them in the event that the transactions provided for in this Agreement are not consummated.

 

Article
8

GENERAL

 

		8.1	Further Assurances

 

Each Party will, from
time to time and at all times after Closing, without further consideration, do such further acts and deliver all such further assurances,
deeds and documents as shall be reasonably required in order to fully perform and carry out the terms of this Agreement, including
without limitation the execution and delivery of supplements to the Production Royalty Agreement as contemplated by Section 6.3.

 

		8.2	No Merger

 

The covenants, representations,
warranties and indemnities contained in this Agreement shall be deemed to be restated in any and all assignments, conveyances,
transfers and other documents conveying the interests of Vendor in and to the Property to Purchaser, subject to any and all time
and other limitations contained in this Agreement. There shall not be any merger of any covenant, representation, warranty or indemnity
in such assignments, conveyances, transfers and other documents notwithstanding any rule of law, equity or statute to the contrary
and such rules are hereby waived.

 

		8.3	Entire Agreement

 

The
provisions contained in any and all documents and agreements collateral hereto shall at all times be read subject to the provisions
of this Agreement and, in the event of conflict, the provisions of this Agreement shall prevail. No amendments shall be made to
this Agreement unless in writing, executed by the Parties. This Agreement supersedes all other agreements, documents, writings
and verbal understandings among the Parties relating to the subject matter hereof and expresses the entire agreement of the Parties
with respect to the subject matter hereof.

 

		8.4	Governing Law

 

This
Agreement shall, in all respects, be subject to, interpreted, construed and enforced in accordance with and under the laws of the
Province of Alberta and applicable laws of Canada and shall, in all respects, be treated as a contract made in the Province of
Alberta. The Parties irrevocably attorn and submit to the exclusive jurisdiction of the courts of the Province of Alberta and courts
of appeal therefrom in respect of all matters arising out of or in connection with this Agreement.

 

		8.5	Enurement

 

This Agreement may
not be assigned by a Party without the prior written consent of the other Party. This Agreement shall be binding upon and shall
enure to the benefit of the Parties and their respective administrators, trustees, receivers, successors and permitted assigns.

 

     

     

    

  

		8.6	Time of Essence

 

Time shall be of the
essence in this Agreement.

 

		8.7	Notices

 

The addresses for service
and the fax numbers of the Parties shall be as follows:

 

		Vendor:	1824455 ALBERTA LTD.

Suite 810, 706 – 7th Avenue S.W.

Calgary, Alberta

T2P 0Z1

Fax:(403) 398-0693

Attn:William (Bill) Dynes

 

		Purchaser:	CONSOLIDATED GOLDFIELDS CORPORATION

1575 Delucchi Lane - Suite 115

Reno,Nevada 89502

Fax:(775) 337-9441

Email:mandrews@consolidatedgold.com

Attn:Marc. J. Andrews

 

All notices, communications
and statements required, permitted or contemplated hereunder shall be in writing, and shall be delivered as follows:

 

		(a)	by personal service on a Party at the address of such Party set out above, in which case the item
so served shall be deemed to have been received by that Party when personally served;

 

		(b)	by email or fax to a Party to the email address or fax number of such Party set out above, in which
case the item so transmitted shall be deemed to have been received by that Party when transmitted; or

 

		(c)	except in the event of an actual or threatened postal strike or other labour disruption that may
affect mail service, by mailing first class registered post, postage prepaid, to a Party at the address of such Party set out above,
in which case the item so mailed shall be deemed to have been received by that Party on the third Business Day following the date
of mailing.

 

A Party may from time to time change its
address for service, its email address or its fax number or each of them by giving written notice of such change to the other Party.

 

		8.8	Invalidity of Provisions

 

In case any of the
provisions of this Agreement should be invalid, illegal or unenforceable in any respect, the validity, legality or enforceability
of the remaining provisions contained herein shall not in any way be affected or impaired thereby.

 

     

     

    

 

 

		8.9	Waiver

 

No failure on the part
of any Party in exercising any right or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise
of any such right or remedy preclude any other or further exercise thereof or the exercise of any right or remedy in law or in
equity or by statute or otherwise conferred. No waiver of any provision of this Agreement, including without limitation, this section,
shall be effective otherwise than by an instrument in writing dated subsequent to the date hereof, executed by a duly authorized
representative of the Party making such waiver.

 

		8.10	Expenses

 

All expenses incurred
by Vendor in connection with or related to the authorization, preparation and execution of this Agreement and all other matters
related to the Closing of the transaction contemplated hereby, including all fees and expenses of counsel, accountants and financial
advisors employed by Vendor, will be borne solely and entirely by Vendor; and all such expenses incurred by Purchaser will be borne
solely and entirely by Purchaser. Notwithstanding the foregoing, Purchaser shall be responsible and liable for the payment of the
fees of Vendor’s legal counsel (up to a maximum amount of $7,500) incurred in connection with the preparation of the draft
copy of this Agreement, the Production Royalty Agreement and Escrow Agreement initially provided by Vendor’s legal counsel
to Purchaser for its review and consideration. Such amount shall be paid by Purchaser at Closing and should Closing not occur such
amount shall be paid by Purchaser within three (3) Business Days of the date of termination of this Agreement.

 

		8.11	Amendment

 

This Agreement shall
not be varied in its terms or amended by oral agreement or by representations or otherwise other than by an instrument in writing
dated subsequent to the date hereof, executed by a duly authorized representative of each Party.

 

		8.12	Counterparts

 

This Agreement may
be executed in any number of counterparts, each of which will be deemed to be an original and all of which taken together will
be deemed to constitute one and the same instrument. Delivery of an executed signature page to this Agreement by any party by electronic
transmission will be as effective as delivery of a manually executed copy of the Agreement by such party.

 

[execution page to
follow]

 

     

     

    

  

IN WITNESS WHEREOF
the Parties have executed this Agreement as of the day and year first above written.

 

	182445 ALBERTA LTD.	 	CONSOLIDATED GOLDFIELDS CORPORATION
	 	 	 	 	 
	Per:	/s/ B. Dynes	 	Per:	/s/ Marc J. Andrews
	 	 	 	President/CEOExhibit 10.3

 

PRODUCTION ROYALTY
AGREEMENT

 

THIS PRODUCTION
ROYALTY AGREEMENT is made with effect as of the 17th day of December, 2014,

 

BETWEEN:

 

CONSOLIDATED GOLDFIELDS CORPORATION, a body corporate
having an office and carrying on business in the City of Reno in the State of Nevada

 

(hereinafter referred to as the “Owner”)

 

– and –

 

1824455 ALBERTA LTD., a body corporate having
an office and carrying on business in the City of Calgary in the Province of Alberta

 

(hereinafter referred to as the “Holder”)

 

Recitals

 

		A.	Owner and Holder have entered into an agreement of purchase and sale, dated December 12, 2014 (the
“Purchase Agreement”) whereby Owner purchased from Holder the following interests:

 

		(i)	the applications for Alberta Metallic and Industrial Minerals Permits Nos. A93 140158005, A93 140158003
and A93 140158004, as further set out in and described in Schedule B hereto;

 

		(ii)	the application for Alberta Metallic and Industrial Minerals Permit No. A93 140190601, as further
set out in and described in Schedule B hereto;

 

		(iii)	the application for Alberta Metallic and Industrial Minerals Permit for approximately 35,000 hectares,
as further set out in and described in Schedule B hereto; and

 

		(iv)	the applications for Manitoba quarry leases QL 2944, QL 2948, QL 2949, QL 2946, QL 2950, QL 2945,
QL 2951 and QL 2947, as further set out in and described in Schedule B hereto;

 

		B.	The Purchase Agreement provides for the granting and payment of a production royalty by Owner to
Holder on the Product;

 

      

     

    

 

 

		C.	In accordance with the Purchase Agreement, Owner and Holder have also entered into an Escrow Agreement,
dated December 17th, 2014 (the “Escrow Agreement”) which provides that in certain circumstances that
Owner will re-convey the Property to Holder in certain circumstances and

 

		D.	This agreement (“Agreement”) stipulates the detailed terms and conditions associated
with the Production Royalty obligation of Owner.

 

NOW THEREFORE,
for good and valuable consideration (the receipt and sufficiency of which are hereby acknowledged by each of the Parties), the
Parties agree as follows:

 

		1.	INTERPRETATION

 

		1.1	Definitions

 

For the purposes of
this Agreement, unless the context otherwise requires, the following terms shall have the respective meanings set out below and
grammatical variations of such terms shall have corresponding meanings:

 

		(a)	“Affiliate” has, with respect to the relationship between two or more companies,
the meaning given to it in the Business Corporations Act (Alberta) as such act may be amended from time to time and, with
respect to the relationship between two or more Persons any of which are not bodies corporate, a Person shall be deemed to be an
Affiliate of another Person if one of them is controlled by the other or if both are controlled by the same Person, and for this
purpose, control means the right, directly or indirectly, to direct or cause the direction of the management of the affairs of
a Person, whether by ownership of securities, by contract or otherwise.

 

		(b)	“AMR” has the meaning given to it in Section 3.

 

		(c)	“Business Day” means a day other than a Saturday, a Sunday or any other day
on which the principal chartered banks located in Calgary, Alberta are not open for business.

 

		(d)	“Closing Date” shall have the meaning set out in the Purchase Agreement.

 

		(e)	“Commercial Production” means, and is deemed to have been achieved, for each
of the respective Properties, on the first day of the month in which production of Product exceeds 6,000 tonnes from such Property.

 

		(f)	“Dropped Property” has the meaning given to it in Section 11(c).

 

		(g)	“Escrow Agent” shall have the meaning set out in the Escrow Agreement.

 

		(h)	“Escrowed Shares” shall have the meaning set out in the Escrow Agreement.

 

		(i)	“Interest” has the meaning given to it in Section 4(d).

 

      

     

    

 

		(j)	“McClelland Lake Lands” means Alberta Metallic and Industrial Minerals Permits
Nos. A93 140158005, A93 140158003 and A93 140158004 and the 67,200 acres of land located in the Fort McMurray area of northern
Alberta subject to Alberta Metallic and Industrials Permits Nos. A93 140158005, A93 140158003 and A93, all as further set out and
described in Schedule B hereto.

 

		(k)	“McClelland Lake Property” means the McClelland Lake Lands together with
all ancillary or appurtenant rights attached or accruing thereto, and any renewal, extension, substitute, replacement or successor
title or interest granted, obtained or issued in connection with or in place of any portion of the McClelland Lake Lands
(including, without limitation, any surface mining leases), but only to the extent that such renewal, extension, substitute, replacement
or successor titles or interests cover any portion of the same ground as is covered by the respective Alberta Metallic and Industrials
Permits which comprise the McClelland Lake Lands, as the case may be, and all other properties or interests or rights in
properties in which Holder or an Affiliate of Holder acquires, directly or indirectly, a beneficial interest that are located within
a 20 km radius of the outer boundary of the area encompassed by the respective Alberta Metallic and Industrial Minerals Permits
which comprise the McClelland Lake Lands.

 

		(l)	“Notice” shall have the meaning set out in Section 20.1 herein.

 

		(m)	“Property” means collectively, the McClelland Lake Property, the Tofield Property,
the Tofield Onoway Property and the Washow Peninsula Property.

 

		(n)	“Place of Delivery” means the place directed by the Holder in writing.

 

		(o)	“Prime” means at any particular time, the reference rate of interest, expressed
as a rate per annum that the Bank of Nova Scotia establishes as its prime rate of interest in order to determine interest rates
that it will charge for demand loans in Canadian dollars to its most credit worthy customers in Canada.

 

		(p)	“Processor” means collectively any third-party mill, smelter, refinery or other
processor of the Products which processes any Products to the final product stage before sale or other disposition by or for the
account of the Owner.

 

		(q)	“Product” means all marketable naturally occurring metallic and non-metallic
minerals or mineral bearing material in whatever form or state, including, without limitation, any precious metal, any base metal,
coal, diamonds, salt and rock, sand, gravel or aggregate, that is mined, extracted, removed, produced or otherwise recovered from
the Property, whether in the form of ore, doré, concentrates, refined metals or any other beneficiated or derivative products
thereof and including any such minerals or mineral bearing materials or products derived from any processing or reprocessing of
any tailings, waste rock or other waste products originally derived from the Property.

 

		(r)	“Production
                                         Royalty” shall have the
                                         meaning set out in Section 2 of this Agreement.

 

		(s)	“T-TO Property” means, collectively, the Tofield Property and the Tofield Onoway
Property.

 

      

     

    

 

		(t)	“Technical
                                         Information” means any books, records, data, reports or other information of
                                         any kind whatsoever, any format whatsoever (including in electronic format) relating
                                         to the Property owned by or in the control of Owner, including all surveys, plans, specifications,
                                         maps, drill core samples, other samples and assays relating to the Property.

 

		(u)	“Tofield
                                         Lands” Alberta Metallic and Industrial Minerals Permit to be issued for approximately
                                         35,000 hectares of land located in the Tofield area of northern Alberta subject to such
                                         permit, all as further set out and described in Schedule B hereto. 

 

		(v)	“Tofield
                                         Property” means the Tofield Lands together with all ancillary or appurtenant
                                         rights attached or accruing thereto, and any renewal, extension, substitute, replacement
                                         or successor title or interest granted, obtained or issued in connection with or in place
                                         of any portion of the Tofield Lands (including, without limitation, any surface mining
                                         leases), but only to the extent that such renewal, extension, substitute, replacement
                                         or successor titles or interests cover any portion of the same ground as is covered by
                                         the respective Alberta Metallic and Industrials Permit which comprises the Tofield Lands,
                                         as the case may be, and all other properties or interests or rights in properties in
                                         which Holder or an Affiliate of Holder acquires, directly or indirectly, a beneficial
                                         interest that are located within a 20 km radius of the outer boundary of the area encompassed
                                         by the Alberta Metallic and Industrial Minerals Permit which comprises the Tofield Lands.

 

		(w)	“Tofield
                                         Onoway Lands” Alberta Metallic and Industrial Minerals Permits No. A93 140190601
                                         and the 12,698 acres of land located in the west Edmonton area of northern Alberta subject
                                         to Alberta Metallic and Industrial Minerals Permits No. A93 140190601, all as further
                                         set out and described in Schedule B hereto.

 

		(x)	“Tofield
                                         Onoway Property” means the Tofield Onoway Lands together with all ancillary
                                         or appurtenant rights attached or accruing thereto, and any renewal, extension, substitute,
                                         replacement or successor title or interest granted, obtained or issued in connection
                                         with or in place of any portion of the Tofield Onoway Lands (including, without limitation,
                                         any surface mining leases), but only to the extent that such renewal, extension, substitute,
                                         replacement or successor titles or interests cover any portion of the same ground as
                                         is covered by the respective Alberta Metallic and Industrials Permits which comprise
                                         the Tofield Onoway Lands, as the case may be, and all other properties or interests or
                                         rights in properties in which Holder or an Affiliate of Holder acquires, directly or
                                         indirectly, a beneficial interest that are located within a 20 km radius of the outer
                                         boundary of the area encompassed by the respective Alberta Metallic and Industrial Minerals
                                         Permits which comprise the Tofield Onoway Lands.

 

		(y)	“Washow
                                         Peninsula Lands” means applications for Manitoba quarry leases QL 2944, QL
                                         2948, QL 2949, QL 2946, QL 2950, QL 2945, QL 2951 and QL 2947 and the 860 acres of land
                                         located in the Washow area of Manitoba subject to such leases, all as further set out
                                         and described in Schedule B hereto.

 

      

     

    

 

		(z)	“Washow Peninsula Property” means the Washow Peninsula Lands together
with all ancillary or appurtenant rights attached or accruing thereto, and any renewal, extension, substitute, replacement or successor
title or interest granted, obtained or issued in connection with or in place of any portion of the Washow Peninsula Lands
(including, without limitation, any surface mining leases), but only to the extent that such renewal, extension, substitute, replacement
or successor titles or interests cover any portion of the same ground as is covered by the respective Manitoba quarry leases which
comprise the Washow Peninsula Lands, as the case may be, and all other properties or interests or rights in properties in
which Holder or an Affiliate of Holder acquires, directly or indirectly, a beneficial interest that are located within a 50 km
radius of the outer boundary of the area encompassed by the respective Manitoba quarry leases which comprise the Washow Peninsula
Lands.

 

		1.1	Headings, Internal References. The headings used in this Agreement, and its division
into articles, sections, schedules, and other subdivisions, do not affect its interpretation. References in this Agreement to articles,
sections, schedules, and other subdivisions are to those parts of this Agreement.

 

		1.2	Number and Gender. Unless the context requires otherwise, words importing the singular
number include the plural and vice versa; words importing gender include all genders.

 

		1.3	Currency. Unless specified otherwise, all dollar amounts expressed in this Agreement
refer to lawful currency of Canada.

 

		1.4	Calculation of Time. In this Agreement, a period of days begins on the first day
after the event that began the period and ends at 5:00 p.m. (Calgary time) on the last day of the period. If any period of time
is to expire, or any action or event is to occur, on any day that is not a Business Day, the period expires, or the action or event
is considered to occur, at 5:00 p.m. (Calgary time) on the next Business Day.

 

		1.5	Use of the Term “Including”. Where this Agreement uses the word “including”
it means “including without limitation”, and where it uses the word “includes” it means “includes
without limitation”.

 

		1.6	Interpretation of this Agreement. The Parties acknowledge that they have each participated
in settling the terms of this Agreement. The Parties agree that any rule of legal interpretation to the effect that any ambiguity
is to be resolved against the drafting party will not apply in interpreting this Agreement.

 

		1.7	References to Statutes, etc. Unless specified otherwise, any reference in this Agreement
to a statute includes both the regulations, rules and polices made under that statute and any provision that amends, supplements,
supersedes or replaces any such statute, regulation, rule or policy.

 

		1.8	Schedules. Schedule “A” forms part of this Agreement.

 

      

     

    

 

 

		2.	GRANT OF ROYALTY

 

Subject to the terms
of this Agreement, the Owner hereby grants, conveys and agrees to pay to the Holder a production royalty (the “Production
Royalty”) in respect of the Property equal to two (2%) percent of the actual proceeds received by the Owner from the
sale or other disposition of Product commencing on the date on which Commercial Production is achieved.

 

The Owner and the Holder
expressly acknowledge and agree that the grant, sale, transfer and conveyance of the Production Royalty herein is effective as
of the date of this Agreement and the Production Royalty is attached to and intended to run with and bind each of the Property
and the title of the Owner thereto and shall be binding upon the successors and assigns of the Owner and all successors and assigns
of the Owner in title to the Property. The obligation of the Owner to pay the Production Royalty as provided in this Agreement
is an obligation which the Owner and the Holder intend, to the extent allowed by law, to create a vested interest in land in the
Property and all renewals, successions, substitutions and extensions of the respective Alberta Metallic and Industrials Permits
and Manitoba Quarry leases, and such Production Royalty is intended to run with and form part of the Property.

 

		3.	ADVANCE MINIMUM ROYALTY

 

For the period starting
1 year after the Closing Date and continuing yearly up to date of commencement of Commercial Production, Owner shall pay to Holder
the amount of $75,000 as an annual advance minimum royalty (“AMR”) for each of the McClelland Lake Property,
the T-TO Property and the Washow Peninsula Property, being an aggregate annual amount of $225,000. The annual AMR will be
paid annually on a quarterly basis in four equal instalments of $18,750 for each of the McClelland Lake Property, the T-TO Property
and the Washow Peninsula Property, being an aggregate quarterly payment of $56,250, commencing on the first anniversary of the
date of this Agreement. AMR’s paid prior to commencement of Production for each of the McClelland Lake Property, the T-TO
Property and the Washow Peninsula Property will be credited against future Production Royalties on each such property on a
dollar for dollar basis up to the maximum rate of $18,750 per quarter per property. AMR’s paid shall be non-refundable.

 

		4.	TIME AND MANNER OF ROYALTY PAYMENTS

 

		(a)	The Production Royalty payment shall be calculated and paid for each fiscal quarter of each calendar
year during the term of this Agreement (a “quarter”) (i.e., each succeeding three month period of a calendar
year, the first quarter commencing on January 1st), commencing with the quarter (or the remainder thereof) in which the Property
are in Commercial Production. The Production Royalty payment for each quarter shall be paid to the Holder by the Owner by cheque,
certified cheque, bank draft or wire transfer (in the sole and absolute discretion of the Holder), on or before the day that is
thirty (30) days after the last day of each quarter, unless the quarter is the last quarter of the fiscal year of the Owner, in
which case the Production Royalty payment shall be paid on or before the day that is sixty (60) days after such year-end. Any adjustment
to the determination of any Production Royalty payment shall be made on the next scheduled Production Royalty payment. All such
Production Royalty and adjustment payments shall be delivered to the Holder at the Place of Delivery in such manner as specified
in writing by the Holder.

 

      

     

    

 

		(b)	At least ninety (90) days prior to commencing any mining of the Property and on the second anniversary
of such date every two years thereafter, the Owner shall deliver to the Holder a reasonably detailed and reasoned estimate specific
to the Property of the proven and probable reserves of Product on, in or under the Property.

 

		(c)	At the time each Production Royalty payment is paid to the Holder, the Owner shall prepare and
deliver to the Holder a statement setting out in reasonable detail the manner in which such Production Royalty payment was calculated,
including: (i) the quantities of Products sold or otherwise disposed of by the Owner with respect to such quarter; (ii) the quantities
of Products to which such Production Royalty payment is applicable; (iii) the calculation of the applicable Production Royalty;
(iv) the sales price for applicable Products, (v) the calculation of Interest accrued on such Production Royalty payment, if any;
(vi) in the event of any commingling as contemplated in Section 6, a detailed summary of the determination by the Owner of the
quantity of Products commingled in accordance with Section 6 and subject to the Production Royalty; and (vii) in the case of any
Products in the form of Products mined and stockpiled but not sold or processed by the Owner during the previous quarter, the tonnage
and location of such Products so stockpiled.

 

		(d)	The Holder may object in writing to any statement or Production Royalty payment amount within eighteen
(18) months of the receipt by the Holder of the relevant statement in respect of such payment. If it is determined by agreement
of the parties or by arbitration that any Production Royalty payment has not been properly paid in full as provided herein, the
Owner shall pay interest on the delinquent payment at a rate per annum of Prime plus 2% per annum, (“Interest”),
commencing on the date on which such delinquent payment was properly due and continuing until the date on which the Holder receives
payment in full of such delinquent payment and all accrued interest thereon. For the purposes of this subsection, Prime shall be
determined as of the date on which such delinquent payment was properly due.

 

		(e)	If it is determined by agreement of the parties or by arbitration that any Production Royalty payment
was overpaid, the Owner shall be entitled, at its discretion, to either (i) offset such amount against the next Production Royalty
payment or (ii) request any such overpayment be repaid to the Owner within sixty (60) days of the date of such agreement or arbitration
decision.

 

		(f)	All Production Royalty payments shall be made without deduction or set off for costs of production,
milling, smelting, processing, transportation, taxes or other expenses whatsoever.

 

      

     

    

 

		(g)	All tailings, waste rock or other waste products resulting from the mining, milling or other processing
of material derived from the Property from and after the date of this Agreement shall be the sole and exclusive property and responsibility
of the Owner, but shall be subject to the Production Royalty and the terms of this Agreement, including the provisions in respect
of commingling, if such tailings, waste rock or other waste products are processed in the future resulting in the production of
Products therefrom.

 

		5.	TERM

 

Except as otherwise
provided by Sections 11(c), 15 and 16 below, this Agreement shall continue in perpetuity, it being the intent of the parties hereto
that the Production Royalty shall constitute a covenant running with and binding upon the Property and all renewals, substitutions,
extensions and successions of the respective Alberta Metallic and Industrials Permits and Manitoba Quarry leases which comprise
the Property, whether created privately or through governmental action, and binding upon the successors and assigns of the Owner
and the successors in title to the Property.

 

		6.	COMMINGLING

 

		(a)	Subject to subsection 6(b) below, the Owner shall be entitled to commingle Products from the Property
and from any other properties owned or leased by the Owner, during the stockpiling, milling (concentrating), smelting, refining,
minting or further processing of Products produced from the Property, but, for greater certainty, not at any time prior to or during
the mining phase of production.

 

		(b)	Before any Products are commingled with ores or minerals from any other properties, including stockpiling,
the Products shall be measured and sampled in accordance with standard mining and metallurgical practices. Representative samples
of the Products shall be retained by the Owner and assays and appropriate analyses of these samples shall be made before commingling
to determine metal, mineral, water and other appropriate content of the Products. From this information, the Owner shall determine
the quantity of the Products subject to the Production Royalty notwithstanding that the Products have been commingled with ores
or minerals from other properties. Absent objection made by the Holder pursuant to Section 4(d), the Owner may dispose of the materials
and data required to be produced and kept by this Section after a period of six (6) years from the date such materials and data
are produced.

 

		7.	STOCKPILING

 

Subject to subsections
4(c) and 6(b) of this Agreement, the Owner or operator shall be entitled to stockpile, store or place mined material containing
Products produced from the Property in any locations owned, leased or otherwise controlled by the Owner or its Affiliates or the
Processor on or off the Property, provided the same are appropriately identified as to ownership and origin and secured from loss,
theft, tampering and contamination.

 

      

     

    

 

		8.	BOOKS; RECORDS; INSPECTIONS

 

		(a)	The Owner shall keep true, complete and accurate books and records of all of its operations and
activities with respect to the Property, including the mining of Products therefrom and the mining, treatment, processing, refining
and transportation of Products, prepared in accordance with generally accepted accounting principles, consistently applied. Subject
to complying with the confidentiality provisions of this Agreement, the Holder and/or its authorized representatives shall be entitled,
upon delivery of three (3) Business Days advance notice, and during the normal business hours of the Owner, to perform audits or
other reviews and examinations of the Owner’s books and records relevant to the calculation and payment of the Production
Royalty pursuant to this Agreement no more than once per calendar year to confirm compliance with the terms of this Agreement,
including without limitation, calculations of the Production Royalty. The Holder shall diligently complete any audit or other examination
permitted hereunder. All expenses of any audit or other examination permitted hereunder shall be paid by the Holder, unless the
results of such audit or other examination permitted hereunder disclose a deficiency in respect of any Production Royalty payments
paid to the Holder hereunder in respect of the period being audited or examined in an amount greater than 5% of the amount of the
Production Royalty properly payable with respect to such period, in which event all expenses of such audit or other examination
shall be paid by the Owner.

 

		(b)	In performing such audit the Holder and/or its agents shall have reasonable access to all sampling,
assay, weighing, and production records, including all mining, stockpile and milling records of the Owner relating to the Property
and any Products derived from the Property (and the Holder shall be allowed to make notes or a photocopy thereof), all of which
such records shall be kept and retained by the Owner or operator of the Property in accordance with good mining industry practice
for the period of retention set out in subsection 6(b).

 

		9.	RIGHTS TO MONITOR PROCESSING OF MINERALS

 

Subject at all times
to the workplace rules and supervision of the Owner, and provided any rights of access do not interfere with any exploration, development,
mining or milling work conducted on the Property or at any mill at which Products from the Property may be processed, the Holder
shall at all reasonable times and upon reasonable notice, and at its sole risk and expense, have (a) a right of access by its representatives
to the Property and to any mill used by the Owner to process Products derived from the Property (provided that in the event such
mill is not owned or controlled by the Owner, such right of access shall only be the same as any such right of access of the Owner,
and (b) the right (i) to monitor the Owner’s stockpiling and milling of Products derived from the Property and to take samples
from the Property or any stockpile or from any mill or Processor (if not prohibited under any contract between the Owner and any
such Processor) for purposes of assay verifications; and (ii) to weigh or to cause the Owner to weigh all trucks transporting Products
from the Property to any mill processing Products from the Property prior to dumping of such ore and immediately following such
dumping.

 

      

     

    

 

		10.	CONFIDENTIALITY

 

		(a)	The Holder shall not, without the express written consent of the Owner (which consent shall not
be unreasonably withheld), disclose any non-public information in respect of the terms of this Agreement or otherwise received
under or in conjunction with this Agreement and concerning Products and operations on the Property or any other properties owned
or leased by the Owner, other than to its employees, agents and/or consultants for purposes related to the administration, or assignment
by the Holder, of this Agreement. The Holder shall not issue any press releases concerning the terms of this Agreement or in respect
of the operations of the Owner without the consent of the Owner after such party having first reviewed the terms of such press
release. The Holder agrees to reveal such information only to its employees, agents and/or consultants who need to know, who are
informed of the confidential nature of the information and who agree to be bound by the terms of this Section 10.

 

		(b)	The Holder may disclose data or information obtained under or in conjunction with this Agreement
and otherwise prohibited from disclosure by this Section 10 after providing the Owner with a copy of the proposed disclosure and
if the Owner does not object, acting reasonably, to such disclosure by notice in writing to the Holder within 48 hours after receipt
of such copy:

 

		(i)	to any third person to whom the Holder in good faith anticipates selling or assigning its interest
hereunder;

 

		(ii)	to a prospective lender to the Holder; or

 

		(iii)	to a prospective equity financier or investor of the Holder;

 

provided that in each case the
party to whom disclosure is proposed shall first have been provided with and signed and delivered to the Owner a confidentiality
agreement executed by such third party purchaser, lender, financier or investor which agreement shall include the confidentiality
provisions of this Section 10.

 

		(c)	The Holder may disclose data or information obtained under this Agreement if required to do so
for compliance with applicable laws, rules, regulations, policies or orders of a governmental authority having jurisdiction over
such party, provided that the Holder shall disclose only such data or information as, in the opinion of its counsel, is required
to be disclosed and provided further that the Holder will provide the Owner with a copy of the proposed disclosure and the Owner
shall be given the right to review and object to the data or information to be disclosed within 48 hours of its receipt of such
copy prior to any release, and any such release will be subject to any reasonable objections or changes proposed by the Owner.
For the purposes of this Agreement, “governmental authority” shall include any applicable stock exchange or stock quotation
service.

 

      

     

    

 

		11.	CONDUCT OF OPERATIONS

 

		(a)	Subject to subsection 11(b) below, all decisions concerning methods, the extent, times, procedures
and techniques of any (i) exploration, development and mining related to the Property, (ii) milling, processing or extraction treatment
and (iii) materials to be introduced on or to the Property or produced therefrom, shall be made by the Owner in its sole and absolute
discretion, and all decisions concerning the sale or other disposition of Products from the Property, shall be made by the Owner
acting with commercial reasonableness.

 

		(b)	The Owner shall not be required to explore for or mine Products but shall process any Products
that it mines from the Property as expeditiously as commercially reasonably possible provided that this obligation shall not restrict
Owner from timing sales of Product with a view to taking advantage of seasonal increases in the sale price of Product. No Production
Royalty shall be due on and the Owner shall not be responsible for or obliged to make any Production Royalty payments for Products
or mineral value lost in any mining or processing of the Products conducted in accordance with accepted mining or processing practices.

 

		(c)	Following the release from escrow of all Common Shares subject to the Escrow Agreement, the Owner
shall be entitled to abandon the Property (or any part thereof, the “Dropped Property”), provided that it shall
give 90 days’ prior written notice to the Holder of its intention to do so, and, at the option of the Holder, the Owner shall
transfer the Dropped Property and all related Technical Information to the Holder or its assignee for no consideration. Upon subsequent
escheat, forfeiture or conveyance back to the entity that is entitled to the Property (or any part thereof) upon such abandonment,
this Agreement shall be null and void and of no further force or effect with respect to the Property (or any part thereof) that
have been abandoned, but further provided that if the Owner or any Affiliate of the Owner re-stakes the land subject to the Property
or otherwise acquires the lands subject to the Property at any time after such escheat, forfeiture or conveyance, this Production
Royalty Agreement and the Production Royalty shall again be of force and effect and shall apply to such re-staked lands and any
Products derived therefrom. For greater certainty, this Agreement shall remain in force and effect with respect to that portion
of the Property that have not been abandoned pursuant to this Section 11(c).

 

		12.	NO IMPLIED COVENANTS

 

The parties agree that there are no implied
covenants or duties relating to or affecting any of their respective rights or obligations under this Agreement, and that the only
covenants or duties which affect such rights and obligations shall be those expressly set forth and provided for in this Agreement.

 

      

     

    

 

		13.	ASSIGNMENT BY HOLDER

 

		(a)	Subject to subsections 13(b) and 13(c) below, the Holder shall have the right, at any time and
from time to time, to transfer, sell, or otherwise assign any portion or all of the Production Royalty and its interest in and
to this Agreement.

 

		(b)	In the event that the Holder wishes to exercise its rights under 13(a) above, the Holder shall
notify the Owner in writing thirty (30) days prior to the completion of any such transfer, sale or other assignment (any such transaction,
a “Sale”), confirming the identity of such transferee (the “Transferee”), the appropriate Place of Delivery
and the new address for notice to such Transferee as well as the terms of such Sale (the “Sale Notice”). Other than
in connection with a proposed Sale to an Affiliate of the Holder, the Owner shall have the right to match the terms of any such
Sale by providing written notice (the “Matching Notice”) to the Holder of its intentions to do so within twenty one
(21) days of receipt of such Sale Notice from the Holder (the “Deadline Date”). The Holder shall not complete the Sale
of the Production Royalty until after the Deadline Date. In the event the Owner sends a Matching Notice, the Holder shall sell
that portion of the Production Royalty subject to the Sale to the Owner and not to the Transferee on the terms set out in the Sale
Notice. In the event the Holder has not received a Matching Notice on or prior to the Deadline Date, the Holder may proceed with
the Sale of the Production Royalty to the Transferee without any further obligations under this Section 13 to the Owner so long
as such Sale is on the terms set out in the Sale Notice. In the event the Owner sends a Matching Notice to the Holder, the Owner
shall be prepared to close the purchase of the Production Royalty within thirty (30) days of the Deadline Date on the terms set
out in the Sale Notice, failing which the Holder may complete the Sale to the Transferee on the terms set out in the Sale Notice
without any further notice or obligations to the Owner. In the event the Owner does not provide the Matching Notice by the Deadline
Date, the Holder shall complete the Sale of the Production Royalty to the Transferee within thirty (30) days of the Notice Date
on the terms set out in the Sale Notice, failing which the Owner shall again have the option to match any such Sale on the terms
otherwise agreed to between the Holder and the Transferee.

 

		(c)	A condition for any Sale to a Transferee is that the Transferee agrees in advance in writing in
favour of the Owner to be bound by the terms of this Agreement.

 

		14.	TRANSFER BY OWNER

 

The Owner shall be
entitled to assign, sell, transfer, lease, mortgage, charge or otherwise encumber any of the Property or the Products or the proceeds
thereof and its rights and obligations under this Agreement, provided the following conditions are satisfied, and upon such conditions
being satisfied in respect of any such assignment, sale or transfer only (but not in respect of any such lease, mortgage, charge
or other encumbrance), and subject to the provision of Section 20.3 below, the Owner shall be released from all obligations under
this Agreement that would otherwise arise in respect of the time period commencing on the effective date of such assignment, sale
or transfer:

 

      

     

    

 

		(a)	any purchaser, transferee, lessee or assignee of such Property or this Agreement agrees in advance
in writing in favour of the Holder to be bound by the terms of this Agreement including, without limitation, this Section 14 and
the indemnity provisions set out in Section 19 of this Agreement;

 

		(b)	any purchaser, transferee or assignee of this Agreement has simultaneously acquired the Owner’s
right, title and interest in and to such Property;

 

		(c)	any mortgagee, chargee, lessee, assignee or encumbrancer of such Property or this Agreement agrees
in advance in writing in favour of the Holder to be bound by and subject to the terms of this Agreement in the event it takes possession
of or forecloses on all or part of such Property and acknowledges that the Holder shall be entitled to receive the Production Royalty
payments to which it is entitled hereunder in priority to any payments to such mortgagee, chargee, lessee, assignee or encumbrancer
and undertakes to obtain an agreement in writing in favour of the Holder from any subsequent purchaser, lessee, assignee or transferee
of such mortgagee, chargeholder, lessee or encumbrancer that such subsequent purchaser, lessee, assignee or transferee will be
bound by the terms of this Agreement including, without limitation, this Section 14; and

 

		(d)	any royalty or other similar interest in or to such Property, or in and to any Products, granted
by the Owner after the date hereof, shall contain a term to the effect that no payment thereof, in cash or in product in kind,
shall be made until the Production Royalty hereunder has been paid in full for the relevant time period.

 

		15.	RE-CONVEYANCE PURSUANT TO ESCROW AGREEMENT

 

In the event that
Owner becomes obligated to re-convey the Property to Holder pursuant to the Escrow Agreement, this Agreement will be automatically
terminated effective the effective date of such re-conveyance, and will be of no further force and effect and for the avoidance
of doubt, Owner shall not be obligated to make any further AMR or Production Royalty payments to Holder after such date, but all
accrued and unpaid AMR or Production Royalty payments payable to Holder on the effective date of such re-conveyance shall be paid
within fifteen (15) day of such effective date.

 

      

     

    

 

		16.	Re-Conveyance Pursuant to Non-Payment of AMR

 

		(a)	In the event Owner does not pay to Holder the AMR which is payable prior to commencement of Commercial
Production and such default continues and has not been cured within a period of forty five (45) days after written notice of such
default from Holder has been received by Owner, then subject to the conditions set out in Section 16(b) and 16(c), Holder may provide
written notice (the “Notice”) to Owner of the exercise of its right to re-conveyance of the Property under this
Section 16. On or before the 5-day anniversary of the effective time of the Notice (the “Notice Period”), Owner
shall re-convey the Property to Holder in which case: (i) Owner will sell, assign, transfer, convey and set over to Holder, and
Holder shall purchase and accept the assignment, transfer, conveyance and set over of, all of Owner's right, title, estate and
interest of Owner (whether absolute, legal or beneficial) in the Property, and all improvements thereon, and the Technical Information
(collectively, the “Re-conveyed Property”) to Holder for $1.00; and (ii) upon such re-conveyance being effective,
Owner and Holder shall direct the Escrow Agent to release from escrow and deliver to Owner all Escrowed Shares which remain in
escrow under the Escrow Agreement for cancellation, and for greater certainty, Holder and Owner agree that the Escrowed Shares
which are returned to Owner for cancellation will be considered null and void, will be of no value to Holder and Holder agrees
to cancellation of such Escrowed Shares. In the event that Owner becomes obligated to re-convey the Property to Holder pursuant
to this Section 16, this Agreement will be automatically terminated effective as of the effective date of the re-conveyance, and
will be of no further force and effect and for the avoidance of doubt, Owner shall not be obligated to make any further AMR or
Production Royalty payments to Holder other than accrued and unpaid AMR or Production Royalty payments payable to Holder on the
effective date of such re-conveyance, which shall be paid within ninety (90) day of such effective date.

 

		(b)	If at the end of the Notice
                                         Period:

 

		(i)	the Property is free and
                                         clear from all liens, encumbrances, security interests and claims;

 

		(ii)	all permits, concessions
                                         and agreements in respect of the Property are in good standing;

 

		(iii)	all payments, rental,
                                         taxes, rates, assessments, renewal fees and other governmental or third party charges
                                         owing in respect of the Property and the respective Alberta Metallic and Industrials
                                         Permits and Manitoba quarry leases which comprise the Property (and all renewals, successions,
                                         substitutions and extensions of such Alberta Metallic and Industrials Permit and leases
                                         including any and all mining surface leases that cover any portion of the same ground
                                         as is covered by Alberta Metallic and Industrials Permits) have been paid in full and
                                         satisfied for a minimum period of 120 days following the re-conveyance;

 

		(iv)	all work requirements or
                                         commitments in respect of the Property (and all renewals, successions, substitutions
                                         and extensions of the respective Alberta Metallic and Industrials Permits and Manitoba
                                         quarry leases which comprise the Property) have been satisfied for a minimum period of
                                         one year following the re-conveyance; and 

 

      

     

    

 

		(v)	the conditions existing
                                         on or related to the Property and Owner’s ownership and operations of the Property
                                         have been in compliance with and not in violation of any material laws (including without
                                         limitation any environmental laws), nor caused or permitted any material damage (including
                                         environmental damage) to the Property or material impairment to the health, safety or
                                         enjoyment of any person at or on the Properties or in the general vicinity of the Properties;

 

or if Holder
waives any of the conditions in (i) through (v) above that were not then satisfied, then Owner shall re-convey the Re-Conveyed
Property to Holder and concurrently with such re-conveyance, Holder shall forthwith provide notice to the Escrow Agent directing
the Escrow Agent to, and the Escrow Agent shall then, return, release and deliver to Owner all of the Escrowed Shares then still
in escrow under the Escrow Agreement for cancellation. If these conditions are not satisfied or waived by the end of the Notice
Period, then Holder shall not be obligated to repurchase and accept the re-conveyance of the Re-conveyed Property, Holder shall
forthwith provide notice to the Escrow Agent directing the Escrow Agent to, and the Escrow Agent shall then, return, release and
deliver to Holder all of the Escrowed Shares then still in escrow under the Escrow Agreement and the obligations of Owner under
this Agreement shall continue uninterrupted and in full force and effect.

 

		(c)	Notwithstanding the foregoing,
                                         Holder may, at its discretion, refuse the re-conveyance, in which case Holder shall provide
                                         written notice to Owner and the Escrow Agent of such refusal and the Escrow Agent shall
                                         then return to Owner all Escrowed Shares which are still in escrow for cancellation and
                                         Owner may abandon the Property without further notice to Holder.

 

		17.	REGISTRATION

 

It is the express intention
of the parties to this Agreement that the Production Royalty shall run with the mining rights associated with the Property and
be binding upon the successors of the Owner in title to the Property. Notwithstanding Section 10, the Holder may cause, at its
own expense, the due registration or recordation of this Agreement or notice of this Agreement against the title to the Property.
The Owner covenants and agrees that it shall co-operate with such registration or recordation and provide its written consent or
signature to any documents or things reasonably necessary to accomplish such registration or recordation in order to ensure that
any successor or assignee or other acquiror or encumbrancer of the Owner’s title to the Property, or any interest therein,
shall have public notice of this Agreement and the terms of this Agreement and in order that the Holder may cause to be registered
a restriction on title to the Property restricting the sale, lease, transfer, charge or transfer of charge of the Property, in
whole or in part, without the written consent of the Holder, which written consent shall be granted by the Holder without condition
within five (5) Business Days of the receipt by the Holder of a request for such written consent provided that such sale, lease,
transfer, charge or transfer of charge is in compliance with Section 14 of this Agreement. In the event that such sale, lease,
transfer, charge or transfer of charge is in compliance with Section 14 of this Agreement and evidence to such effect has been
delivered to the Holder and the Holder has not delivered its written consent in accordance with, and within the time frame set
out in, this Section 17, then the Holder shall be deemed to have duly granted such consent.

 

      

     

    

 

		18.	DISPUTE RESOLUTION

 

Any matter in this
Agreement in dispute between the parties which has not been resolved by the parties within thirty (30) days of the delivery of
notice by either party of such dispute may be referred to binding arbitration. Such referral to binding arbitration shall be to
a single qualified arbitrator. The Arbitration Act (Alberta) (the “Act”) shall govern such arbitration
proceedings in accordance with its terms except to the extent modified by the rules for arbitration set out in this Section 18
and in Schedule “A” attached hereto. The parties shall select one qualified arbitrator by mutual agreement, failing
which, such qualified arbitrator shall be determined in accordance with the provisions of the Act for selecting a single arbitrator.
The determination of such qualified arbitrator shall be final and binding upon the parties hereto and the costs of such arbitration
shall be as determined by the arbitrator. The parties covenant that they shall conduct all aspects of such arbitration having regard
at all times to expediting the final resolution of such arbitration. The term “qualified arbitrator” as used
herein shall refer to qualified professional person who has at least ten years of mining industry experience in the subject matter
of the dispute and is independent of both parties.

 

		19.	REPRESENTATIONS AND WARRANTIES OF AND INDEMNITY BY THE OWNER

 

		19.1	The Owner hereby represents and warrants that it has the corporate power, capacity and authority
to grant the Production Royalty to the Holder and such grant, and the execution and delivery of this Agreement by the Owner has
been duly authorized by all required corporate action of the Owner and this Agreement represents a valid and binding obligation
of the Owner duly enforceable against it by the Holder.

 

		19.2	It is acknowledged that the Holder has and will have no involvement in the carrying out of work
related to or conducted on, in or under the Property or in any decisions related to the Property or any work related to or conducted
on, in or under the Property from and after the date of this Agreement, all such matters being in the sole control of the Owner.
The Owner hereby indemnifies and saves harmless the Holder and their respective Affiliates and their respective directors, officers,
shareholders and employees from and against any and all costs, expenses, (including reasonable fees and expenses of legal counsel),
damages, obligations, penalties, claims, orders or directives or other liability of any nature whatsoever (“Claims”)
incurred in respect of or arising out of the Property or the title thereto or ownership thereof, or any work, operation, activities
or event thereon, therein or thereunder or related thereto, conducted or arising from and after the date of this Agreement unless
such Claim is in respect of or arises out of any act or conduct of the Holder.

      

     

    

 

		20.	GENERAL PROVISIONS

 

		20.1	Notices. In order to be
                                         effective, any Notice must be in writing. A Notice is effective if it is delivered (i)
                                         personally, either to the individual designated below for such Party, or to an individual
                                         having apparent authority to accept deliveries on behalf of such individual at its address
                                         set out below; (ii) by fax, (iii) by registered mail; or (iv) by electronic mail, at
                                         or to the applicable addresses or electronic mail addresses, set out opposite the Party’s
                                         name below or at or to such other address or electronic mail address for a Party as such
                                         Party from time to time designates to the other Party in the same manner:

 

in the case of the Owner, to:

 

Consolidated Goldfields Corp.

1575 Delucchi Lane - Suite 115

Reno, Nevada 89502

Fax:(775) 337-9441

Email:mandrews@consolidatedgold.com

Attn:Marc. J. Andrews

 

in the case of the Holder, to:

 

1824455 Alberta Ltd.

Suite 810, 706 – 7th Avenue SW

Calgary, Alberta, T2P 0Z1

Attention: William (Bill) Dynes

Fax: (403) 398-0693

 

Any Notice
is effective (i) if personally delivered as described above, on the day of delivery if that day is a Business Day, and it was delivered
before 5:00 p.m. local time in the place of delivery or receipt, and otherwise on the next Business Day; or (ii) if sent by fax,
on the day of transmission, if that day is a Business Day and the fax transmission was made before 5:00 p.m. local time in the
place of delivery or receipt, and otherwise on the next Business Day; or (iii) if by registered mail, on the fourth Business Day
following the day on which it is mailed, except that if at any time between the date of mailing and the fourth Business Day thereafter
there is a general discontinuance or disruption of postal service, Notice must be given by means other than mail; or (iv) if by
electronic mail, on the day the sender receives confirmation of receipt by return electronic mail from the recipient, if that day
is a Business Day and if the confirmation was received prior to 5:00 p.m. local time in the place of delivery or receipt, and otherwise,
on the next Business Day.

 

		20.2	Severability. The invalidity
                                         or unenforceability of any particular provision of this Agreement will not affect or
                                         limit the validity or enforceability of the remaining provisions. To the extent that
                                         any such provision is found to be invalid or unenforceable, the Parties shall act in
                                         good faith to substitute for such provision, to the extent possible, a new provision
                                         with content and purpose as close as possible to the provision so determined to be invalid
                                         or unenforceable.

 

      

     

    

 

		20.3	Assignment. Any assignment, transfer, conveyance, mortgage, pledge or charge or lease or
purported assignment, transfer, conveyance, mortgage, pledge or charge or lease of any interest in the Property by the Owner, or
in, to or arising under this Agreement by the Owner or the Holder, which does not comply with the terms of this Agreement shall
be null and void and of no force or effect whatsoever. Notwithstanding any other provision in this Agreement, including the provisions
of Section 14 of this Agreement, the Owner shall remain liable for all covenants, agreements, obligations, representations and
warranties of the Owner contained in this Agreement that arise after the date of this Agreement and until the effective time of
such assignment, transfer or conveyance, unless otherwise agreed by the parties thereto, despite any assignment, transfer, conveyance,
mortgage, pledge, charge or lease of any interest in the Property by the Owner (or an Affiliate of the Owner), or in, to or arising
under this Agreement.

 

		20.4	Further Assurances. Each party shall execute all such further instruments and documents
and do all such further actions as may be necessary to effectuate the documents and transactions contemplated in this Agreement,
in each case at the cost and expense of the party requesting such further instrument, document or action, unless expressly indicated
otherwise.

 

		20.5	Governing Law. This Agreement will be construed in all respects under and be subject to
the laws of the Province of Alberta and the laws of Canada applicable therein.

 

		20.6	Waiver. No waiver of satisfaction
                                         of a condition or non-performance of an obligation under this Agreement is effective
                                         unless it is in writing and signed by the Party granting the waiver. No waiver under
                                         this Section affects the exercise of any other rights under this Agreement.

 

		20.7	Business Date. Whenever
                                         any payment to be made or other action to be taken under this Agreement is required to
                                         be made or taken on a day other than a Business Day, such payment shall be made or action
                                         shall be taken on the next following Business Day.

 

		20.8	Relationship of the Parties. Nothing herein shall be construed to create, expressly or by
implication, a joint venture, mining partnership, commercial partnership, or other partnership relationship between the Owner and
the Holder.

 

		20.9	Time of Essence. Time shall be of the essence of this Agreement.

 

		20.10	Accounting Principles. All calculations hereunder shall be made in accordance with Canadian
generally accepted accounting principles as the same may be in effect from time to time.

 

		20.11	Counterparts. This Agreement
                                         may be signed in any number of counterparts, each of which is an original, and all of
                                         which taken together constitute one single document. Counterparts may be transmitted
                                         by fax or in electronically scanned form. Any Party transmitting by fax or electronically
                                         will also deliver the original counterpart to the other Party, but failure to do so does
                                         not invalidate this Agreement.

 

      

     

    

 

 Signature
page follows.

 

      

     

    

 

This Agreement has been executed by the Parties with effect
on the date first written above.

 

	 	CONSOLIDATED GOLDFIELDS CORPORATION
	 	 	 
	 	Per:	/s/ Marc J. Andrews
	 	 	Marc J. Andrews, Chief Executive Officer
	 	 	 
	 	1824455 ALBERTA LTD.
	 	 	 
	 	Per:	/s/ B. Dynes
	 	  	William (Bill) Dynes, President

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