Document:

EXHIBIT 10.8

 

PROMISSORY NOTE

 

 

	$33,000.00	February 4, 2015

 

 

FOR VALUE RECEIVED, El Capitan Precious Metals, Inc.
(“MAKER”), promises to pay to George Nesemeier and Robert J. Runck (“LENDERS”), the sum of
Thirty-three Thousand Dollars ($33,000.00), with interest thereon at the rate of eighteen percent (18%) per annum from
February 4, 2015. Payment of this Note, including both principal and interest, shall be made by Maker to Lenders on February
4, 2016. Payments shall be first applied to interest due and then thereafter to principal.

 

MAKER agrees to pay this Note and waives demand, presentment,
protest, and notice of dishonor, and agrees that, without notice, any indebtedness represented by this Note may from time to time
be renewed or extended by the Parties, and in such event, the liability shall continue hereunder upon the indebtedness as so renewed
or extended, and agrees in case of any default under this Note to pay all costs of collections, including reasonable attorney’s
fees and the maximum late charges or interest permitted of law.

 

MAKER, at its option, may make prepayments of principal and interest
at any time without any penalty.

 

In addition, Maker shall issue to Lenders two hundred thousand (200,000) shares of its Rule 144 stock,
as an incentive for providing the funds which form the basis for this Note.

 

DATED this 4th day of February, 2015.

 

	 	 	EL CAPITAN PRECIOUS
METALS, INC.
	 	 	 
	 	 	 
			/s/ Charles C. Mottley
	 		Charles C. Mottley
	 		Its CEO

 

 

PERSONAL GUARANTY

 

Charles
C. Mottley does hereby personally guaranty this Promissory Note, being personally responsible for payment.

		 	
	 	 	 	 
	 	 	 	 
			 	/s/ Charles C. Mottley
	 		 	Charles C. MottleyEXHIBIT 10.9

 

 

PROMISSORY NOTE

 

 

	$30,000.00	February 4, 2015

 

 

FOR VALUE RECEIVED, El Capitan Precious Metals, Inc. (“MAKER”),
promises to pay to Management Resource Initiative, Inc. (“LENDER”), the sum of Thirty Thousand Dollars ($30,000.00), with
interest thereon at the rate of eighteen percent (18%) per annum from February 4, 2015. Payment of this Note, including both principal
and interest, shall be made by Maker to Lenders on February 4, 2016. Payments shall be first applied to interest due and then
thereafter to principal.

 

MAKER agrees to pay this Note and waives demand, presentment,
protest, and notice of dishonor, and agrees that, without notice, any indebtedness represented by this Note may from time to time
be renewed or extended by the Parties, and in such event, the liability shall continue hereunder upon the indebtedness as so renewed
or extended, and agrees in case of any default under this Note to pay all costs of collections, including reasonable attorney’s
fees and the maximum late charges or interest permitted of law.

 

MAKER, at its option, may make prepayments of principal and interest
at any time without any penalty.

 

In addition, Maker shall issue to Lender two hundred thousand (200,000) shares of its Rule 144
stock, as an incentive for providing the funds which form the basis for this Note.

 

DATED this 4th day of February, 2015.

 

	 	 	EL CAPITAN PRECIOUS
METALS, INC.
	 	 	 
	 	 	 
			/s/ Charles C. Mottley
	 		Charles C. Mottley
	 		Its CEO

 

 

PERSONAL GUARANTY

 

Charles C. Mottley does hereby personally guaranty this Promissory
Note, being personally responsible for payment.

		 	
	 	 	 	 
	 	 	 	 
			 	/s/ Charles C. Mottley
	 		 	Charles C. MottleyEXHIBIT 10.10

 

AGREEMENT

 

 

This AGREEMENT is made and entered
into this 16 day of April, 2015, by and between El Capitan Precious Metals, Inc., a Nevada corporation of Scottsdale, Arizona,
hereinafter referred to as "ECPN" and S&L Energy, LLC, an Arizona limited liability company of Scottsdale, Arizona, hereinafter
referred to as "SL".

 

In consideration of the mutual promises and covenants herein contained, the Parties do hereby agree as follows:

 

1.     The Parties acknowledge and agree that ECPN is desirous of obtaining interim financing for its ongoing business operations and
that SL is willing to loan of otherwise provide ECPN such monies pursuant to the terms and conditions set out in this Agreement.

 

2.     SL
shall loan or otherwise provide to ECPN the total amount of Two Hundred Thousand Dollars ($200,000.00) as follows:

 

A.    An initial payment
of Fifty Thousand Dollars ($50,000.00) on or before April 17, 2015.

 

B.     A second payment of Fifty Thousand Dollars ($50,000.00) on
or before May 15, 2015.

 

C.     Four
(4) additional payments of Twenty-five Thousand Dollars ($25,000.00) on the fifteenth day of each consecutive month,
beginning on June 15, 2015.

 

3.     If ECPN is in need of funding greater than the monthly amount set out in the previous
paragraph during any such single month, ECPN shall make written request to SL for such additional loan proceeds. In its sole
discretion, SL will reasonably consider such request and determine whether to loan the requested greater amount to
ECPN. However, in no case shall SL be required to loan to ECPN more than the total amount of Two Hundred Thousand Dollars
($200,000.00).

 

4.     ECPN shall make repayment of the proceeds received by it from SL as soon as is reasonably possible from the
revenues generated by its business activities, but in any case, all such proceeds shall be repaid by ECPN on or before April
17, 2016. In addition, ECPN shall be required to pay for any fees, costs, expenses, or interest incurred by SL in carrying
out the intent and terms and provisions of this Agreement. This shall include any such matters related to the collection of
the repayment of the loan proceeds.

 

5.     In addition to the repayment of the principal amount of Two Hundred Thousand Dollars
($200,000.00), ECPN shall pay interest thereon to SL at the rate of ten percent (10%) per annum.

 

6.     In return for such payments
as set out in the previous paragraph, ECPN shall issue to SL, or its designees, common stock of ECPN pursuant to SEC Rule
144. The total number of such shares of ECPN common stock shall be in the amount of three million (3,000,000) shares. ECPN
shall make such transfer of shares to SL as soon as is reasonably possible after receipt of the first payment from SL.

 

7.     As
security for the repayment of the above set out loan proceeds, ECPN shall provide to SL a secured interest in the AuraSource
Heavy Metals Separation System located on the El Capitan mine site in New Mexico. This shall include ECPN assisting and
cooperating with SL in the execution of a Security Agreement and the filing of a UCC Financing Statement and other documents
related to the transaction.

 

8.     ECPN shall not make any payment from the loan proceeds described in Paragraph 2 above to any
officer, director, employee, insider, or agent of ECPN, except as specifically agreed to by SL in writing. In addition, ECPN
shall not pay any compensation to such persons until the loan proceeds are fully repaid.

 

9.     It is acknowledged by the
Parties that ECPN has prepared a budget to set out the intent of the use of loan proceeds contemplated by this Agreement for
purposes of convincing SL to make the loan set out in Paragraph 2 above, a copy of which is attached to this Agreement. ECPN
shall use its reasonable best efforts to generally follow such proposed budget in the expenditure of funds received by ECPN
from the loan proceeds received by ECPN pursuant to this Agreement. If any issue arises in regard to the requirements of this
Paragraph, such issue shall be submitted to arbitration as hereinafter set out.

 

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10.   As set out above, the
intent of this Agreement is to provide ECPN with financing to continue its ongoing business operations for approximately six
(6) months. There is no intent for SL to become involved in such business operations. SL, however, is requiring assurances
that ECPN will only use the proceeds loaned pursuant to this Agreement as proposed by ECPN to SL. Under these circumstances,
the Parties shall in all ways cooperate with each other and work together to carry out such intent.

 

11.   ECPN shall hold SL
harmless and indemnify SL for liability or damages caused by the activities of ECPN, for any claim or damages resulting from
the activities conducted or undertaken pursuant to this Agreement.

 

12.   This Agreement constitutes the entire agreement between
the Parties hereto with respect to the subject matter addressed herein. All prior and contemporaneous agreements,
understandings, conditions, warranties, and representations are hereby superseded by this Agreement.

 

13.   Any modification or
change in this Agreement must be in writing, executed by an officer of ECPN and SL. No representative has the right or
authority to make any oral or written modifications of this Agreement.

 

14.   Should one of the sections or provisions of this
Agreement, or any word, phrase, sentence, clause, or paragraph thereof be declared invalid, illegal, or unenforceable in any
respect by any federal, state, county, or municipal government, such validity, legality, and enforceability of the remaining
sections and provisions hereof and any other applications thereof shall not in any way be affected or impaired thereby and
will remain in full force and effect as if such invalid or illegal sections or provisions were omitted.

 

15.   No waiver of any
breach of any condition, covenant, or agreement herein shall constitute a continuing waiver or a waiver of any subsequent
breach of the same or any other condition, covenant, or agreement.

 

16.   The Parties agree to negotiate in good faith to resolve
any disputes, disagreements, questions, claims, or similar matters in regard to this Agreement or any matter in regard to the
relationship between themselves. If such matters cannot be resolved by negotiation between the Parties, such matters shall be
resolved by using a single arbitrator and procedures established by such arbitrator. Judgment upon any award may be entered
in any court of competent jurisdiction. The prevailing party shall be entitled to recover all expenses of arbitration,
including reasonable attorney's fees. Venue of such arbitration shall be in Maricopa County, Arizona. Either Party may make a
demand for arbitration by filing the demand in writing with the other Party. This provision for arbitration shall be an
absolute bar to any other legal proceedings between the Parties hereto. This Agreement shall be construed in accordance with
the laws of the State of Arizona.

 

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

 

 

 

	EL CAPITAN PRECIOUS
METALS, INC.	 	S&L ENERGY, LLC
	 	 	 	 	 
	 	 	 	 	 
	By:	/s/ Charles C. Mottley	 	By:	/s/ Larry L. Lozensky
	 	Charles C. Mottley	 	 	Larry L. Lozensky
	 	Its Officer	 	 	Its Manager

 

 

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