SEC Contract Filing

Filing Date: 2025-03-03

Document Content:
<DOCUMENT>
<TYPE>EX-10.30
<SEQUENCE>2
<FILENAME>magellan_ex1030.htm
<DESCRIPTION>AGREEMENT WITH GOLD EXPRESS MINES
<TEXT>
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<P STYLE="margin: 0"><B>Exhibit 10.30</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5pt 0pt 5pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Memorandum
of Understanding between</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5pt 0pt 5pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5pt 0pt 5pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Gold
Express Mines, Inc. (&ldquo;GEM&rdquo;) and</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5pt 0pt 5pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5pt 0pt 5pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Magellan
Copper and Gold Corp. (&ldquo;MAG&rdquo;),</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5pt 0pt 5pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5pt 0pt 5pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B>collectively
the &ldquo;Parties&rdquo;, as of February 21, 2025.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5pt 0pt 5pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5pt 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5pt 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5pt 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B> GEM
has provided certain technical, business and location information concerning the Cable Mine located near Anaconda, Montana;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5pt 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5pt 0pt 0; text-align: justify; text-indent: 0.5in"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5pt 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B> MAG
is interested in participating in the development of the Cable Mine;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5pt 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5pt 0pt 0; text-align: justify; text-indent: 0.5in"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5pt 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B> MAG
is interested in terminating its interest in the Kris Mine located in Plumas County, CA for an opportunity to enter a similar earn-in
agreement for the Cable Mine;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5pt 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5pt 0pt 0; text-align: justify; text-indent: 0.5in"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5pt 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B> GEM
is interested in obtaining a business partner with mineral development experience in advancing the Cable Mine Project.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5pt 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5pt 0pt 0; text-align: justify"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5pt 0pt 0; text-align: justify; text-indent: 0.5in">Now Therefore, the
Parties agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5pt 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5pt 0pt 0; text-align: justify"><B></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 26.65pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">1)</FONT></TD><TD STYLE="text-align: justify; padding-right: 0.7pt">MAG shall &ldquo;earn-in&rdquo; for up to 45% of the working interest in the Cable
Mine Project (the &ldquo;Cable Project&rdquo; or the &ldquo;Project&rdquo;), under the following terms.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 63.35pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">a.</FONT></TD><TD STYLE="text-align: justify; padding-right: 0.7pt">Investing $500,000 into the Cable Project in allowable expenditures over the next
twenty- four months, assuming permitting for the work is obtained. If permitting issues delay the exploration work, the twenty-four-month
earn-in period shall be extended accordingly.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 63.4pt"></TD><TD STYLE="width: 17.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">b.</FONT></TD><TD STYLE="text-align: justif