<SEC-DOCUMENT>0000783324-14-000023.txt : 20140417
<SEC-HEADER>0000783324-14-000023.hdr.sgml : 20140417
<ACCEPTANCE-DATETIME>20140417115613
ACCESSION NUMBER:		0000783324-14-000023
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20140417
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20140417
DATE AS OF CHANGE:		20140417

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VISTA GOLD CORP
		CENTRAL INDEX KEY:			0000783324
		STANDARD INDUSTRIAL CLASSIFICATION:	GOLD & SILVER ORES [1040]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			B0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09025
		FILM NUMBER:		14769223

	BUSINESS ADDRESS:	
		STREET 1:		7961 SHAFFER PKWY
		CITY:			LITTLETON
		STATE:			CO
		ZIP:			80127
		BUSINESS PHONE:		720-981-1185

	MAIL ADDRESS:	
		STREET 1:		7961 SHAFFER PKWY
		CITY:			LITTLETON
		STATE:			CO
		ZIP:			80127

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GRANGES INC
		DATE OF NAME CHANGE:	19950602

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GRANGES EXPLORATION LTD
		DATE OF NAME CHANGE:	19890619
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>vgz-20140417x8k.htm
<DESCRIPTION>8-K
<TEXT>
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			<a name="A001"></a><a name="_GoBack"></a><font style="display: inline;font-weight:bold;font-size:10pt;">UNITED STATES</font><br /><font style="display: inline;font-weight:bold;font-size:10pt;">SECURITIES AND EXCHANGE COMMISSION</font><br /><font style="display: inline;font-weight:bold;font-size:10pt;">WASHINGTON, D.C. 20549</font><font style="display: inline;font-size:10pt;">&nbsp;</font>
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			<font style="display: inline;">_________________ </font>
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			<a name="A003"></a><font style="display: inline;font-weight:bold;">FORM 8-K</font><font style="display: inline;">&nbsp;</font>
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			<a name="A004"></a><font style="display: inline;font-weight:bold;">CURRENT REPORT</font><font style="display: inline;">&nbsp;</font>
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			<font style="display: inline;font-size:10pt;">Pursuant to Section 13 or 15(d) of the </font><br /><font style="display: inline;font-size:10pt;">Securities Exchange Act of 1934 </font>
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			<font style="display: inline;font-weight:bold;font-size:10pt;">Date of Report: </font><font style="display: inline;font-weight:bold;font-size:10pt;">April 15</font><font style="display: inline;font-weight:bold;font-size:10pt;">, 2014</font>
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			<font style="display: inline;font-size:10pt;">(Date of earliest event reported)</font>
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			<a name="A006"></a><font style="display: inline;font-weight:bold;font-size:13.5pt;">VISTA GOLD CORP. </font><br /><font style="display: inline;font-weight:bold;font-size:13.5pt;"></font><font style="display: inline;font-size:10pt;">(Exact Name of Registrant as Specified in Charter) </font>
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			<a name="A007"></a><font style="display: inline;font-weight:bold;font-size:10pt;">British Columbia</font><font style="display: inline;font-weight:bold;font-size:10pt;">, Canada </font><br /><font style="display: inline;font-weight:bold;font-size:10pt;"></font><font style="display: inline;font-size:10pt;">(State or Other Jurisdiction of Incorporation) </font>
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						<font style="display: inline;font-weight:bold;font-size:10pt;">1-9025</font><br /><font style="display: inline;font-weight:bold;font-size:10pt;"></font><font style="display: inline;font-size:10pt;">(Commission File Number) </font></p>
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						<font style="display: inline;font-weight:bold;font-size:10pt;">Not Applicable</font><br /><font style="display: inline;font-weight:bold;font-size:10pt;"></font><font style="display: inline;font-size:10pt;">(IRS Employer Identification No.) </font></p>
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			<br /><font style="display: inline;"></font><a name="A009"></a><font style="display: inline;font-weight:bold;font-family:Times New Roman;font-weight:bold;text-transform:uppercase;font-size:10pt;">7961 Shaffer parkway, suite 5, littleton, colorado 80127</font>
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			<font style="display: inline;font-size:10pt;">(Address of Principal Executive Offices and Zip Code)</font>
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			<font style="display: inline;font-size:10pt;">Registrant&#x2019;s telephone number, including area code:&nbsp;&nbsp; </font><font style="display: inline;font-weight:bold;font-size:10pt;">(720) 981-1185</font>
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			<a name="A011"></a><font style="display: inline;font-size:10pt;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: </font>
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						<font style="display: inline;font-size:10pt;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></p>
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						<font style="display: inline;font-size:10pt;">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p>
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						<font style="display: inline;font-size:10pt;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></p>
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						<font style="display: inline;font-size:10pt;">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></p>
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			<font style="display: inline;font-weight:bold;font-size:10pt;">Item 1.01&nbsp;&nbsp;Entry into a Material Definitive Agreement</font>
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			<font style="display: inline;font-weight:bold;font-size:10pt;">&nbsp;</font>
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			<font style="display: inline;font-size:10pt;">On </font><font style="display: inline;font-size:10pt;">April 15, 2014</font><font style="display: inline;font-size:10pt;">, the Registrant&#x2019;s wholly-owned subsidiary, </font><font style="display: inline;font-size:10pt;">Minera</font><font style="display: inline;font-size:10pt;"> Gold</font><font style="display: inline;font-size:10pt;">&nbsp;</font><font style="display: inline;font-size:10pt;">Stake, S.A. de C.V. (&#x201C;MGS&#x201D;), </font><font style="display: inline;font-size:10pt;"> signed a</font><font style="display: inline;font-size:10pt;">n</font><font style="display: inline;font-size:10pt;">&nbsp;</font><font style="display: inline;font-size:10pt;">Option </font><font style="display: inline;font-size:10pt;">Agreement with </font><font style="display: inline;font-size:10pt;">Cangold Limited</font><font style="display: inline;font-size:10pt;"> (&#x201C;</font><font style="display: inline;font-size:10pt;">Cangold</font><font style="display: inline;font-size:10pt;">&#x201D;) with respect to the development of the Registrant&#x2019;s </font><font style="display: inline;font-size:10pt;">Guadalupe de los Reyes</font><font style="display: inline;font-size:10pt;"> gold</font><font style="display: inline;font-size:10pt;">/silver</font><font style="display: inline;font-size:10pt;"> project in </font><font style="display: inline;font-size:10pt;">Mexico (the &#x201C;GdlR Project&#x201D;)</font><font style="display: inline;font-size:10pt;">.&nbsp;&nbsp;The </font><font style="display: inline;font-size:10pt;">Option</font><font style="display: inline;font-size:10pt;"> Agreement provides </font><font style="display: inline;font-size:10pt;">Cangold</font><font style="display: inline;font-size:10pt;">, a </font><font style="display: inline;font-size:10pt;">junior exploration</font><font style="display: inline;font-size:10pt;"> company</font><font style="display: inline;font-size:10pt;"> engaged in the exploration and development of gold projects in Mexico and Canada</font><font style="display: inline;font-size:10pt;">, with the opportunity to earn a </font><font style="display: inline;font-size:10pt;">70</font><font style="display: inline;font-size:10pt;">% interest in the </font><font style="display: inline;font-size:10pt;">GdlR</font><font style="display: inline;font-size:10pt;">&nbsp;</font><font style="display: inline;font-size:10pt;">P</font><font style="display: inline;font-size:10pt;">roject by (i) </font><font style="display: inline;font-size:10pt;">making payment</font><font style="display: inline;font-size:10pt;">s totaling US$5,000,000 </font><font style="display: inline;font-size:10pt;">in five payments over a three-year period </font><font style="display: inline;font-size:10pt;">with payments totaling US$1,000,000 in the first year (US$150,000 of which was paid at signing), US$1,500,000 in the second year and US$2,500,000 in the third year;</font><font style="display: inline;font-size:10pt;"> (ii) </font><font style="display: inline;font-size:10pt;">operating the GdlR </font><font style="display: inline;font-size:10pt;">P</font><font style="display: inline;font-size:10pt;">roject, maintaining the concessions comprising the GdlR Project in good standing; and</font><font style="display: inline;font-size:10pt;"> (iii) </font><font style="display: inline;font-size:10pt;">fulfilling all of the obligations of </font><font style="display: inline;font-size:10pt;">MGS</font><font style="display: inline;font-size:10pt;"> to the Ejido La Tasajera (the &#x201C;Ejido&#x201D;) as set out in the temporary occupation contract between MGS and the Ejido</font><font style="display: inline;font-size:10pt;">.</font><font style="display: inline;font-size:10pt;">&nbsp;</font><font style="display: inline;font-size:10pt;">&nbsp;</font>
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			<font style="display: inline;font-size:10pt;">Subject to Cangold earning a 70% interest in the GdlR Project, Vista has granted Cangold </font><font style="display: inline;font-size:10pt;">an additional option to earn the remaining 30% interest in the GdlR Project by notifying Vista of a production decision and by making a cash payment to Vista of US$3,000,000 plus an additional cash payment based on a formula that includes the growth, if any, in estimated NI 43-101 Measured and Indicated mineral resources of the GdlR Project, and the then prevailing spot gold price</font><font style="display: inline;font-size:10pt;">.</font>
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			<font style="display: inline;font-size:10pt;">This summary of the material terms of the Option Agreement are qualified in their entirety by the Option Agreement attached hereto as Exhibit 10.1.</font>
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			<font style="display: inline;font-size:10pt;">&nbsp;</font>
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			<font style="display: inline;font-weight:bold;font-size:10pt;">Item 7.01&nbsp;&nbsp;Regulation FD</font>
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			<font style="display: inline;font-size:10pt;">&nbsp;</font>
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			<font style="display: inline;font-size:10pt;">On </font><font style="display: inline;font-size:10pt;">April 15</font><font style="display: inline;font-size:10pt;">, 2014</font><font style="display: inline;font-size:10pt;">, the Registrant issued a press release </font><font style="display: inline;font-size:10pt;">announcing</font><font style="display: inline;font-size:10pt;"> that </font><font style="display: inline;font-size:10pt;">it </font><font style="display: inline;font-size:10pt;">entered into an agreement</font><font style="display: inline;font-size:10pt;"> to option its interest in the Guadalupe de los Reyes gold</font><font style="display: inline;font-size:10pt;">/</font><font style="display: inline;font-size:10pt;">silver project in Sinaloa, Mexico</font><font style="display: inline;font-size:10pt;">,</font><font style="display: inline;font-size:10pt;"> to Cangold Limited.</font><font style="display: inline;font-size:10pt;"> &nbsp;A copy of the press release is attached to this report as Exhibit&nbsp;99.1. In accordance with General Instruction B.2 of Form&nbsp;8-K, the information set forth herein and in the press release is deemed to be &#x201C;furnished&#x201D; and shall not be deemed to be &#x201C;filed&#x201D; for purposes of the Securities Exchange Act of 1934, as amended and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.&nbsp;&nbsp;The information set forth in Item 7.01 of this report shall not be deemed an admission as to the materiality of any information in this report on Form&nbsp;8-K that is required to be disclosed solely to satisfy the requirements of Regulation FD.</font>
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			<font style="display: inline;font-weight:bold;font-size:10pt;">&nbsp;</font>
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			<font style="display: inline;font-weight:bold;font-size:10pt;">Item 9.01&nbsp;&nbsp;Exhibits</font>
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			<font style="display: inline;font-size:10pt;">10.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Option Agreement</font><font style="display: inline;font-size:10pt;"> &#x2013; Guadalupe de los Reyes</font>
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			<font style="display: inline;font-size:10pt;">99.1</font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;">Press Release dated </font><font style="display: inline;font-size:10pt;">April 15</font><font style="display: inline;font-size:10pt;">, 2014</font><font style="display: inline;font-size:10pt;">*</font>
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			<font style="display: inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-size:10pt;">*The Exhibit relating to Item 7.01 is intended to be furnished to, not filed with, the SEC pursuant to Regulation FD.</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-size:10pt;">&nbsp;</font>
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		<p style="margin:0pt;text-align:center;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-weight:bold;font-size:10pt;">SIGNATURES</font><font style="display: inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-size:10pt;">In accordance with the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. </font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-size:10pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
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					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">&nbsp; &nbsp;</font></p>
				</td>
				<td valign="top" style="width:50.00%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-weight:bold;font-size:10pt;">VISTA GOLD CORP.</font><br /><font style="display: inline;font-weight:bold;font-size:10pt;"></font><font style="display: inline;font-size:10pt;">(Registrant) </font></p>
				</td>
			</tr>
			<tr style="CellSpacing:0;">
				<td valign="top" style="width:50.00%;padding:0pt;">
					<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">&nbsp;</font></p>
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">Dated:&nbsp;</font><font style="display: inline;font-size:10pt;">April </font><font style="display: inline;font-size:10pt;">17</font><font style="display: inline;font-size:10pt;">, 2014</font></p>
				</td>
				<td valign="top" style="width:50.00%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
						&nbsp;</p>
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">By: </font><font style="display: inline;font-size:10pt;text-decoration:underline;"> /s/John F. Engele</font></p>
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">John F. Engele</font></p>
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">Chief Financial Officer</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">&nbsp;</font>
		</p>
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		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>vgz-20140417ex1016bcfe5.htm
<DESCRIPTION>EX-10.1
<TEXT>
<!--HTML document created with Rivet Software Powered by Crossfire-->
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		<title>
			vgz - 2014417 - GDLR option agreement EX 101
		</title>
	</head>
	<body><div style="margin-left:70pt;margin-right:70pt;">
		<p style="margin:0pt;text-align:center;border-bottom:1pt none #D9D9D9 ;text-justify:inter-ideograph;font-weight:bold;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<a name="_GoBack"></a><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">(ENGLISH VERSION)</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-weight:bold;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-weight:bold;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">EXPLORATION, EXPLOITATION AND OPTION AGREEMENT TO </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ACQUIRE</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> MINING CONCESSIONS, ENTERED </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">INTO </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">BY AND BETWEEN </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">COBORO MINERALES DE M&#xC9;XICO, S.A. DE C.V., </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">HEREINAFTER</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> REFERRED TO AS</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> &#x201C;COBORO&#x201D;, </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">HEREIN </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">REPRESENT</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ED BY </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">MRS. SANDRA ESTHER RAMIREZ VINAY</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">AND</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> MINERA GOLD STAKE, S.A. DE C.V., </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">HEREINAFTER REFERRED TO AS</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> &#x201C;MGS&#x201D;, </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">HEREIN </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">REPRESENT</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ED BY</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">MR. GONZALO ZAVALA RUIZ</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">PU</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">RSUANT TO THE FOLLOWING RECITALS AND CLAUSES</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">:</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-weight:bold;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;border-top:1pt none #D9D9D9 ;text-justify:inter-ideograph;font-weight:bold;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">RECITALS</font>
		</p>
		<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> I.</font>
			</p>
		</td><td style="width:3pt;"><p style="width:3pt;width:3pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">MGS </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">declares </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">through</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> its legal representative that</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">:</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 21.3pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:3pt;"><p style="width:3pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> a)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">It is a business corporation legally established and existing under Mexican law, with full capacity to do business in Mexico</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, including but not limit</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">e</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">d to the purchase</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">,</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> disposal, exploration, development and exploitation of mining concessions.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">MGS is duly recorded with the Public Registry</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> Office</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> of Trade and with the Public Registry of Mining</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">. &nbsp;</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 21.3pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:3pt;"><p style="width:3pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt 5.5pt 0pt 0pt;">
				<font style="margin:0pt 5.5pt 0pt 0pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> b)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt 5.5pt 0pt 0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">It c</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">omplies with all the requirements and has the capacity to enter and formalize this Agreement and all the instruments and documents related to or deriving th</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">e</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">refrom</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">.</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 21.3pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:3pt;"><p style="width:3pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt 5.5pt 0pt 0pt;">
				<font style="margin:0pt 5.5pt 0pt 0pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> c)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt 5.5pt 0pt 0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Its legal representative</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Mr. Gonzalo Zavala Ruiz</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">is duly authorized to represent the corporation and to bind it under the terms and conditions of this Agreement, and such authorities have not been revoked, limited or amended in any way up to this date.</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 35.4pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:3pt;"><p style="width:3pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt 5.5pt 0pt 0pt;">
				<font style="margin:0pt 5.5pt 0pt 0pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> d)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt 5.5pt 0pt 0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">It is the legitimate owner of One Hundred Percent (100%) of the rights deriving from the mining concessions described in Exhibit &#x201C;A&#x201D; to this Agreement, hereinafter referred to as the &#x201C;Concessions&#x201D;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">.</font></p></td></tr></table></div>
		<p style="margin:0pt 5.5pt 0pt 21.3pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:3pt;"><p style="width:3pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt 5.5pt 0pt 0pt;">
				<font style="margin:0pt 5.5pt 0pt 0pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> e)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt 5.5pt 0pt 0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">The Concessions are free from any lien, encumbrance, or limitation of title.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">None of the Concessions is subject to </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">any </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">exploration, exploitation, option, promise of any kind, joint</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">-</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> venture, association, </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">profit-sharing, co-ownership or any other agreement in effect that may </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">cre</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ate a </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">limitation on</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> the </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">legal title, use, operation or assignability of the Concessions; furthermore, MGS </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">hereby </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">declares that no royalty has been granted on the Concessions except those whose terms and conditions are described in </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">the documents attached as </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Exhibit &#x201C;B&#x201D; hereto, hereinafter &#x201C;Underlying Royalties&#x201D;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">.</font></p></td></tr></table></div>
		<p style="margin:0pt 5.5pt 0pt 21.3pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:3pt;"><p style="width:3pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt 5.5pt 0pt 0pt;">
				<font style="margin:0pt 5.5pt 0pt 0pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> f)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt 5.5pt 0pt 0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">The Concessions are in good standing with the </font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;">Direcci&#xF3;n </font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;">General </font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;">de Regulaci&#xF3;n Minera</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> &nbsp;(</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">General Direction of </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Mining</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> Regulation</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">)</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> regarding: (i) the obligat</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ion to invest and file the pertaining </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Assessment </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Works </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Reports as </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">carried o</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ut pursuant to the mining law; (ii) the obligation to pay mining duties pursuant to the Federal Duties Law during the last five years, taking into account the date of issuance of each concession title, and (iii) any other obligation to keep the Concessions in effect pursuant to the applicable laws and regulations. MGS hereby declares that</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> to this date</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> the corporation has not received any notice from the </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Regulatory Office of</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> Mining or from any other governmental authority requesting the payment </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">of, </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">or </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">the </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">compliance with any obligation pursuant to the </font>
		</p>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			<font style="display: inline;">1</font>

		</p>

		<p style="margin:0pt 18pt 0pt 0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

		</p>

</div></td></tr></table><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td><p style="margin:0pt 5.5pt 0pt 21.3pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;;font-size: 11pt"><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">applicable legislation, and has not been served any notice implying the starting of cancellation proceedings for any of the Concessions</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">. &nbsp;</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 21.3pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:3pt;"><p style="width:3pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt 5.5pt 0pt 0pt;">
				<font style="margin:0pt 5.5pt 0pt 0pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> g)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt 5.5pt 0pt 0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">It </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">has entered into a Temporary Occupation Agreement with the Tasajera Ejido (hereinafter &#x201C;EJIDO&#x201D;) dated June 27, 2013, </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">effective for</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> a two (2) year</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> term</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> starting from July 24, 2013, hereinafter the &#x201C;Temporary Occupation Agreement&#x201D;, whereby</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> it is entitled to </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">have a</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ccess </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">to </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">all the </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">s</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">urface </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">a</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">rea where the Concessions are located.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">This agreement is attached hereto as Exhibit &#x201C;C&#x201D;.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 35.4pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:3pt;"><p style="width:3pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt 5.5pt 0pt 0pt;">
				<font style="margin:0pt 5.5pt 0pt 0pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> h)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt 5.5pt 0pt 0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">It</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> &nbsp;h</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">as entered into a Lease Agreement with</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Ms.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> Ana Cecilia L&#xF3;pez Salcido</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, re</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">garding the property located at</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> Cal</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">le Francisco Bracamonte esq. con Vicente Mora, en Hermosillo, Sonora,</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> &nbsp;d</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ated</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">January 1,</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> 2014, </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">effective for a twelve (12) month term,</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> for </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">the </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">stor</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">age of</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> samples of drilling cores</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">; &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">hereinafter </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&#x201C;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Lease Agreement</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&#x201D;, </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">which </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">agreement </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">is attached hereto as Exhibit</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> &#x201C;D&#x201D;.</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 35.4pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:3pt;"><p style="width:3pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt 5.5pt 0pt 0pt;">
				<font style="margin:0pt 5.5pt 0pt 0pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> i)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt 5.5pt 0pt 0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">As far as MGS is aware, there are </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">no </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">labor matters pending to be solved deriving from activities </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">at</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> the Concessions</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">.</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 21.3pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:3pt;"><p style="width:3pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt 5.5pt 0pt 0pt;">
				<font style="margin:0pt 5.5pt 0pt 0pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> j)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt 5.5pt 0pt 0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">As far as MGS is aware, there are no adverse claims or allegations related to MGS rights regarding the Concessions</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">.</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 21.3pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:3pt;"><p style="width:3pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt 5.5pt 0pt 0pt;">
				<font style="margin:0pt 5.5pt 0pt 0pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> k)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt 5.5pt 0pt 0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Regarding the mining activities developed </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">up to this date </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">by MGS </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">on the Concessions</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, which activities have been carried out in compliance with the applicable laws and regulations, including those regarding la</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">b</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">or, ta</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">x</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> and environmental matters, further declares that all permits, licenses, concessions and authorizations requ</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ired for MGS to carry out work o</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">n the Concessions were timely obtained, and therefore, as far as MGS is aware, up to the date of execution of this Agreement no environmental contingency exists, not of any other nature that may affect the validity of the Concessions</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">.</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 21.3pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:3pt;"><p style="width:3pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt 5.5pt 0pt 0pt;">
				<font style="margin:0pt 5.5pt 0pt 0pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> l)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt 5.5pt 0pt 0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">To the best of </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">MGS</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> knowledge and belief</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">before this date and limited only to the activities under MGS&#x2019;s control, no leaks, discharges, deposits, emissions or any other releases of contaminating, hazardous or toxic substances or hazardous waste ha</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ve</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> occurred </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">at</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> the Concessions, or </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">that may </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">affect the</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> same</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, and MGS has not stored contami</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">nating, hazardous or toxic subs</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">tances or hazardous waste in any kind of container</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">at</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> the Concessions land lots</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 21.3pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:3pt;"><p style="width:3pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt 5.5pt 0pt 0pt;">
				<font style="margin:0pt 5.5pt 0pt 0pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> m)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt 5.5pt 0pt 0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">T</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">o this date, t</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">here are no obligations enforceable concerning regeneration, rehabilitation, restoration or abandonment regarding the Concessions</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">.</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 21.3pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:3pt;"><p style="width:3pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt 5.5pt 0pt 0pt;">
				<font style="margin:0pt 5.5pt 0pt 0pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> n)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt 5.5pt 0pt 0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">The Concessions are not located in a Protected Natu</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">r</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">al Area or in a Natural Reserve, as theses terms are defined by the environmental legislations, and MGS has not received any written notice from any </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">governmental </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">authorit</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">y informing about the creation of such Areas or Reserves where the Concessions are located</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">.</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 21.3pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:3pt;"><p style="width:3pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt 5.5pt 0pt 0pt;">
				<font style="margin:0pt 5.5pt 0pt 0pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> o)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt 5.5pt 0pt 0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">The Concessions are not located in any area protected by </font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;">Instituto Nacional de Antropolog&#xED;a e Historia</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> (&#x201C;INAH&#x201D;) </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">and no archae</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">o</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">logical traces or traces of historical importance have been located in the </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">a</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">rea where the Concessions are loc</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">a</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ted</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">.</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 21.3pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt">

		</p>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			<font style="display: inline;">2</font>

		</p>

		<p style="margin:0pt 18pt 0pt 0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

		</p>

</div><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt 0pt 0pt 21.3pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;;font-size: 11pt"><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:3pt;"><p style="width:3pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt 5.5pt 0pt 0pt;">
				<font style="margin:0pt 5.5pt 0pt 0pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> p)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt 5.5pt 0pt 0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">As far as MGS is aware, there are no pending or imminent actions, trials, claims or proceedings related to the Concessions, and no notices, orders, decisions, guidelines, standards</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">or any other pending document </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">has been </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">issued </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">by governmental authorities </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">with regards to the Concessions</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">.</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 21.3pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:3pt;"><p style="width:3pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt 5.5pt 0pt 0pt;">
				<font style="margin:0pt 5.5pt 0pt 0pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> q)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt 5.5pt 0pt 0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">MGS </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">has not entered into any agreement with unions or employees&#x2019; associatio</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">n</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">s</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, and has no</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">t</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> undertaken to carry out nor </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">has </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">carried out negotiations with unions or employees&#x2019; associations regarding future agreements related to the Concessions. No MGS employee or </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">employee </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">of the </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">A</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ffiliates of MGS will be transferred to COBORO as a result of the transaction under this Agreement, and COBORO shall not be consid</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">e</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">red as a substitute employer of any employee of MGS or of any of its Affiliates</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">.&nbsp; </font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 21.3pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:3pt;"><p style="width:3pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt 5.5pt 0pt 0pt;">
				<font style="margin:0pt 5.5pt 0pt 0pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> r)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt 5.5pt 0pt 0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">The execution</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> of</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> and compliance</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> with this Agreement</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> by MGS does not imply and shall not give rise to: (i) a default or violation of any provision</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> or</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> may become a noncompliance with, or result in a conflict with, or may cause the </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">acceleration</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> of an obligation by MGS with respect to:</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> (A) </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">any provision of MGS&#x2019;s corporate documents, or the resolutions of the </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">board of directors</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> or the shareholders</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&#x2019; meeting</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> of MGS</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">; &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">(B) </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">any provision of the applicable legislation, or</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> (C) </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">any agreement in which MGS </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">may be</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> a party, or (ii) the creation or imposition of any lien on any of the Concessions.</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 21.3pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:3pt;"><p style="width:3pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt 5.5pt 0pt 0pt;">
				<font style="margin:0pt 5.5pt 0pt 0pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> s)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt 5.5pt 0pt 0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">There are no existing requirements to be fulfilled by</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> MGS</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, notice to be given, nor regulatory permits to be obtained from any governmental authority, as a condit</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">i</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">on for the legal culmination of the transactions under this Agreement.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> No requirement exists to be fulfilled by MGS resulting from any agreement regarding the Concessions in which MGS is a party, or whereby MGS undertakes to give prior notice, or to obtain the consent or approval of any of the parties to</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> any</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> such agreement</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">,</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> regarding the culmination of the transactions under this Agreement.</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 21.3pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:3pt;"><p style="width:3pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt 5.5pt 0pt 0pt;">
				<font style="margin:0pt 5.5pt 0pt 0pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> t)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt 5.5pt 0pt 0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">MGS </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">hereby states its wi</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">sh</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> to enter into this Exploration, Exploitation and Option Agreement with COBORO to </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">acquire</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> the Concessions, herein</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">a</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">fter the &#x201C;Agreement&#x201D;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">.</font></p></td></tr></table></div>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">II. </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;;font-size: 11pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"></font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">COBORO </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">declares </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">through </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">its legal representative that</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">:</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> a)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">It is a business corporation legally established and existing in accordance with Mexican law, </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">with </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">full</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> capacity </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">to do business in Mexico, including without limitation, the purchase, dispos</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">al</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, exploration, development and exploitation of mining concessions. COBORO is duly registered with the Public Registry Office of Trade and with the Public Registry of Mining</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">.</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 18pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt 5.5pt 0pt 0pt;">
				<font style="margin:0pt 5.5pt 0pt 0pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> b)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt 5.5pt 0pt 0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">It c</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">omplies with all the requirements and has the capacity to enter and formalize this Agreement and all the instruments and documents related to or deriving th</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">e</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">refrom.</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 35.4pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt 5.5pt 0pt 0pt;">
				<font style="margin:0pt 5.5pt 0pt 0pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> c)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt 5.5pt 0pt 0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Its representative</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Ms. Sandra Esther Ramirez Vinay</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">is duly authorized to represent the corporation and to bind it under the terms and conditions of this Agreement, and </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">up to this date </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">such authorities have not been revoked, limited or am</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ended in any way</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">.</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 35.4pt;border-top:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt">

		</p>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			<font style="display: inline;">3</font>

		</p>

		<p style="margin:0pt 18pt 0pt 0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

		</p>

</div><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt 0pt 0pt 35.4pt;border-top:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;;font-size: 11pt"><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> d)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">It is its wi</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">sh</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> to enter into this Agreement pursuant to the terms and conditions her</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">e</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">under</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">.</font></p></td></tr></table></div>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Pursuant to the recitals above, the parties mutually agree to abide by the following</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">:</font>
		</p>
		<p style="margin:0pt 0pt 0pt 18pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 18pt;text-align:center;font-weight:bold;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">CL</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">AUSES</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;">FIRST.</font><font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;;font-size: 11pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> &nbsp; &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;text-decoration:underline;">Right to the </font><font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;text-decoration:underline;">First Option</font><font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;text-decoration:underline;">.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 26.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> 4.1.</font>
			</p>
		</td><td style="width:10pt;"><p style="width:10pt;width:10pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">MGS </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">herein grants</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> COBORO </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">for the term </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">from</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> the date of execution of this Agreement </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">to</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> January 15,</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> 2017, su</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">bject to provisions in </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">the Seventh </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Clause</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">,</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">the right to explore without limitations and to exploit in a limited manner the Concessions under the terms and conditions mentioned below</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">and also grants an initial option for the same term to en</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">d</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> on January 15, 2017, subject to provisions in </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">the Seventh </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Clause, to purchase Seventy Percent (70%) of the Concessions (hereinafter, the &#x201C;First Option&#x201D;), free from any lien or limitation of ti</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">t</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">le, exce</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">p</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">t to tha</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">t</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> regarding the obligation to pay</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> the</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> Underlying Royalties</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">. &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Furthermore, should COBORO exercise the First Option, MGS undertakes to assign in favor thereof </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">S</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">eventy Percent (70%) of all the rights and obligations deriving from the Temporary Occupation Agreement and f</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">rom</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> the Lease Agreement</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">.</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 26.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> 4.2.</font>
			</p>
		</td><td style="width:10pt;"><p style="width:10pt;width:10pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">The consideration that</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> COBORO </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">undertakes</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> to pay for keeping the First Option in effect and, if applicable, to exercise the same, shall be</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">: (1) </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">the amounts mentioned below; and</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> (2) </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">the compliance</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> with the obligations described in Section 1.2.1 in this Clause</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">: &nbsp;</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 70.9pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:70pt;"><p style="width:70pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 13.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> </font>
			</p>
		</td><td style="width:22pt;"><p style="width:22pt;width:22pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">(i) </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">On the date of execution of this Agreement (hereinafter the &#x201C;DATE OF EXECUTION&#x201D;)</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> COBORO </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">shall pay</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> MGS </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">the amount of One Hundred and Fifty Thousand Dollars (US</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">$150,000.00</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">), legal tender of the United States of America</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">;</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 106.3pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:70pt;"><p style="width:70pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 13.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> </font>
			</p>
		</td><td style="width:22pt;"><p style="width:22pt;width:22pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">(ii) </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">On September 15, 2014, at the latest, </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">COBORO </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">shall pay</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> MGS </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">the amount of Three Hundred and Fifty Thousand Dollars (US</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">$350,000.00</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">), legal tender of the United States of America</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">; &nbsp;</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 106.3pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:70pt;"><p style="width:70pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 13.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> </font>
			</p>
		</td><td style="width:22pt;"><p style="width:22pt;width:22pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">(iii) </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">On January 15, </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">2015,</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> at the latest,</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> COBORO </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">shall pay</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> MGS </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">the amount of Five Hundred Thousand Dollars (US</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">$500,000.00</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">) legal tender of the United States of America</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">;</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 106.3pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:70pt;"><p style="width:70pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 13.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> </font>
			</p>
		</td><td style="width:22pt;"><p style="width:22pt;width:22pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">(iv) </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">On January 15,</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> 2016, </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">at the latest, </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">COBORO </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">shall pay</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> MGS </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">the amount of One Million Five Hundred Thousand Dollars (US</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">$1,500,000.00</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">), legal tender of the United States of America, and</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 106.3pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:70pt;"><p style="width:70pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 13.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> </font>
			</p>
		</td><td style="width:22pt;"><p style="width:22pt;width:22pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">(v) </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">On January </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">15</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">,</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> 2017,</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> at the latest</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">,</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> COBORO </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">shall pay</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> MGS </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">the amount of Two Million Five Hundred Thousand Dollars (US</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">$2,500,000.00</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">), legal tender of the United States of America</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">. &nbsp;</font></p></td></tr></table></div>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">

		</p>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			<font style="display: inline;">4</font>

		</p>

		<p style="margin:0pt 18pt 0pt 0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

		</p>

</div><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;;font-size: 11pt"><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">The payments described in </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">the preceding sub-paragraphs (i), (ii), (iii)</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> and</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> (iv)</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> shall be made by COBORO to MGS to maintain the First Option in effect, and the payment described in sub-paragraph (v) above will be made by COBORO to MGS in order to acquire </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">(70%) of the</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> rights</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> deriving from the Concessions free from any li</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">e</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">n or limitation of title, except for the obligation to pay the Underlying Royalties </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">o</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">r, alternatively at COBORO&#x2019;s choice, shall become the titleholder of Seventy Percent (70%) of the shares of stock of the NEW CORPORATION, as mentioned herein below.</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">The payments mentioned in the preceding sub-paragraphs</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> (i), (ii)</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, (iii), (iv)</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">,</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">and</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> (v) </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">shall be made adding the payment of Value Added Tax (&#x201C;VAT&#x201D;)</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">,</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> and at the receipt of each payment, MGS will issue the pertainin</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">g</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> invoice complying with all the requirements set forth in the applicable tax laws</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">.</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 33.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> 4.2.1.</font>
			</p>
		</td><td style="width:3pt;"><p style="width:3pt;width:3pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Ad</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ditional to the payment of the aforementioned amounts, COBORO undertakes, as of the DATE OF EXECUTION and up to the date when the payment mentioned in sub-paragraph (v) of Section 1.2 above is made, to do the following to keep the First Option in effect and, if applicable, to exer</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">cis</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">e the </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">same:</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font></p></td></tr></table></div>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:90pt;"><p style="width:90pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 13.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> </font>
			</p>
		</td><td style="width:5pt;"><p style="width:5pt;width:5pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">(i) </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">To keep the Concessions in good standing, in compliance with all the applicable laws</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">and regulations, including without limitation the full payment every six months of the mining duties pertaining the Concessions, which payments shall be fully paid by COBORO before the </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">end of</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> the term </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">set forth </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">to make </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">such</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> payment</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">s</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> pursuant to the Mining Law and its Regulations; and to file the Annua</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">l Reports of Works carried out o</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">n the Concessions before the end of the term </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">set </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">therefor pursuant to the Mining Law and its Regulations</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">. &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">COBORO should notify MGS immediately after making any of the payments of mining duties or the filing of the Reports mentioned in this sub-paragraph and should also provide MGS with copy of the payments made and of the Reports filed. </font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 108pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:90pt;"><p style="width:90pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 13.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> </font>
			</p>
		</td><td style="width:5pt;"><p style="width:5pt;width:5pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">(ii) </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">To keep in an orderly manner the information related to the Concessions, including paying for the storage of the drilling cores, currently stored in Hermosillo, Sonora, in accordance with the Lease Agreement</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">; COBORO should notify MGS immediately after making any of the payments </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">related to that stated </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">in this sub-paragraph and should also provide MGS with copy of the payments made;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> and </font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 35.4pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:90pt;"><p style="width:90pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 13.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> </font>
			</p>
		</td><td style="width:5pt;"><p style="width:5pt;width:5pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">(iii)</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">To comply with all the obligations of </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">MGS </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">with the</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> EJIDO </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">resulting from the Temporary Occupation Agreement</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, COBORO should notify MGS immediately after making any of the payments related to</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">the Temporary Occupation Agreement</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> mentioned in this sub-paragraph and should also provide MGS with copy of the payments made.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font></p></td></tr></table></div>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 26.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> 4.3.</font>
			</p>
		</td><td style="width:10pt;"><p style="width:10pt;width:10pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">All the payments mentioned above</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> (except</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> for</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">the payment set forth in sub-parag</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">r</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">aph </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">(i) </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">of the preceding Section</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> 1.2. </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">which is mandatory</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">), s</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">hall be optional for COBORO, with the understanding that COBORO </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">may</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> early terminate this Agreement, </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">by</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> only deliver</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ing</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> in a legally unquestionable manner at the addr</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">e</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ss stated by MGS, a notice of </font>
		</p>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			<font style="display: inline;">5</font>

		</p>

		<p style="margin:0pt 18pt 0pt 0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

		</p>

</div></td></tr></table><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td><p style="margin:0pt 0pt 0pt 36pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;;font-size: 11pt;"><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">termination in writing, at least Thirty (30) days before the date when COBORO wishes</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> such early termination</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> to become effective, in which case as of the date the early termination notice becomes effective, COBORO shall no</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> longer</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> be compel</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">l</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ed to make the payments of the amounts mentioned in Section 1.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">2 of the dates that had not been met, not to continue complying with the obligations set forth in section 1.2.1, all that subject to provisions in</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> the Seventh</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Clause</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> herein. In the event COBORO delivers at the address of MGS the aforementioned early termination notice in the manner set forth in this Clause, this Agreement shall terminate</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">,</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> and in such case COBORO shall deliver to MGS copies of all the information and documentation related to the Concession</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">s</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> and </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">to</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> the activities that COBORO or its contractors had carried out thereon during the term of this Agreement.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 26.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> 4.4.</font>
			</p>
		</td><td style="width:10pt;"><p style="width:10pt;width:10pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">In the event </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">COBORO </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">early terminates this Agreement, COBORO shall inform MGS about the payments and the filings made under Section 1.2.1 above, and </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">shall </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">deliver copies of such filings and payment receipts to MGS</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, including the receipt</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">s</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> of paym</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">e</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">n</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">t of mining duties pertaining to the Concessions for the last six months.</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 35.4pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 26.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> 4.5.</font>
			</p>
		</td><td style="width:10pt;"><p style="width:10pt;width:10pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">It is expressly understood herein that in the event this Agreement is early terminated in the manner anticipated in this document and before COBORO exercises the First Option, </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">the</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">consequences</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">shall be that</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> all the amounts received by MGS to the date when the notice of termination is delivered at its address, shall remain for the benefit of MGS as earnest money, and MGS shall not be under obligation to return any amount whatsoever to COBORO.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 35.4pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 26.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> 4.6.</font>
			</p>
		</td><td style="width:10pt;"><p style="width:10pt;width:10pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Once COBORO has made the payments set forth in </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">sub-paragraphs (i), (ii), (iii) and (iv) of </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Section 1.2 </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">above to keep the First Option in effect and the payment set forth in sub-paragraph (v) of Section 1.2 to exercise the First Option, </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">on or before the dates mentioned there</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">at</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> and after </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">fulfilling</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> all the obligations set forth in Section 1.2.1 of this Clause, </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">it shall be considered that </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">COBORO has acquired Seventy Percent (70%) of the</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> rights</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> deriving from the Concessions free from any li</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">e</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">n or limitation of title, except for the obligation to pay the Underlying Royalties</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> &nbsp;o</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">r, alternatively at COBORO&#x2019;s choice, shall become the titleholder of Seventy Percent (70%) of the shares of stock of the NEW CORPORATION, as mentioned herein below.</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 35.4pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 26.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> 4.7.</font>
			</p>
		</td><td style="width:10pt;"><p style="width:10pt;width:10pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">COBORO </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">may accelerate the compliance with the payment obligations mentioned in this Clause in order to expedite the exercise of the First Option at any time within the term mentioned in Section</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> 1.1. </font></p></td></tr></table></div>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;">SE</font><font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;">CO</font><font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;">ND.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;text-decoration:underline;">Right to the </font><font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;text-decoration:underline;">Second Option</font><font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;text-decoration:underline;">.</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 26.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> 4.1.</font>
			</p>
		</td><td style="width:10pt;"><p style="width:10pt;width:10pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">If</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> COBORO </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">timely complies, subject to </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">the Seventh Clause</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> below, and fully pays the amounts set forth in Section </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">1.2 </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">of the First Clause</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">,</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">complies </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">with the obligations in Section</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> 1.2.1.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, of the same First Clause, and consequently exercises the First Option, COBORO shall become the holder of&nbsp;&nbsp;Seventy Percent (</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">70%) </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">of the Concessions or</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, alternativ</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ely at </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">COBORO</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&#x2019;s choice</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">shall become the holder of Seventy Percent </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">(</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">70%) </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">of the share</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">s</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> of stock of the NEW CORPORATION</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">as this is defined and described in the Fifth Clause below and, solely in the event of exercisin</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">g</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> the First Option</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, COBORO </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">shall </font>
		</p>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			<font style="display: inline;">6</font>

		</p>

		<p style="margin:0pt 18pt 0pt 0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

		</p>

</div></td></tr></table><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td><p style="margin:0pt 0pt 0pt 36pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;;font-size: 11pt;"><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">have the option </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">to</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> acquir</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">e</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> within a term from the date of exercising the First Option and</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">the date </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">of the tenth anniversary of </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">the exercise of the </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">First Option</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">the remaining Thirty Percent (</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">30%) </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">of the Concessions or the remaining Thirty Percent (</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">30%) </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">of the </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">equity interest </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">of</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> the NEW CORPORATION (hereinafter the &#x201C;Second Option&#x201D;)</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">so that in the event of exercising this Second Option, COBORO shall become the holder of</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">: (i) </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">One Hundred Percent (</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">100%) </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">of the rights deriving from the Concessions free from any lien or limitation of title, except for the obligation to pay the Underlying Royalties</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">as</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">well as of all the rights and obligations deriving from the Temporary Occupation Agreement and the Lease Agreement, or</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> (ii) alternativ</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ely, becomes the holder</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> of One Hundred (</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">100%</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">) of the equity interest of the NEW CORPORATION</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, as described in the Fifth Clause below, </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">which NEW CORPORATION, if incorporated shall be</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">come</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> the </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">sole and legitimate owner of the Concessions, in charge of paying the Underlying Royalties</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">,</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> and shall have One Hundred Percent</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> (100%)</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> of the rights and obligations deriving from the Temp</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">orary Occupation Agreement and </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">f</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">rom</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> the Lease Agreement</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">.&nbsp; </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">For </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">further </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">c</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ertainty </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">it is expressly agreed upon herein that if</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> and only if</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> COBORO exercises the First Option, </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">s</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">hall </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">be entitled to</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> the Second Option</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">.</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 26.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> 4.2.</font>
			</p>
		</td><td style="width:10pt;"><p style="width:10pt;width:10pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">For the purposes of exercising the Second Option, </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">COBORO </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">shall do the following</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">:</font></p></td></tr></table></div>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:54pt;"><p style="width:54pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> a)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Notif</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">y &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">MGS </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">not later than </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">on</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">the </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">tenth anniversary of the date of exercising the First Option,</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">through </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">a &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">notice in writing delivered in a legal</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ly unquestionable manner at MGS address, stating COBORO&#x2019;s intention to </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">put </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">the Concessions</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> into </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">production</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> &nbsp;(</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">hereinafter</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> the</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> &nbsp;&#x201C;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Notification of the </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Production </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Decision</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&#x201D;);</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 72pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:54pt;"><p style="width:54pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> b)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">To make a payment to</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> MGS</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">within five (</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">5) </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">business days following the date </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">on which </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">COBORO </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">delivers the </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Notification of the </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Production</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> Decision</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">,</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">for the amount of Three Million Dollars (US</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">$3,000,000.00</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">) legal tender </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">of</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> the United States of America, plus VAT, and</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 72pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:54pt;"><p style="width:54pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> c)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">To make a payment to</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> MGS</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">on the date </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">of </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">the payment set forth in the immediately preceding sub-paragraph b) of this Section</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> 2.2.,</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">for an amount equal to the </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&#x201C;Escalator Payment Amount&#x201D; defined herein below</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">:</font></p></td></tr></table></div>
		<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">The Escalator Payment Amount</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">(</font><font style="display: inline;font-style:italic;">ESCALATOR PAYMENT AMOUNT</font><font style="display: inline;">),</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">s</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">hall be the amount resulting from the application of the following formula, which formula</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">,</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> for a </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">clear</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">er</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> interpretation</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">by</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">the</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Parties</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">in</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">the</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">event</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">they</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">fail</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">to</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">agree</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">upon</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">its</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">meaning</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">is</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">transcribed</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">herein </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">below</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">in English and Spanish, </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">in </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">the understanding that</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> for the interpretation of such formula, </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">in the event of any discrepancy between the English and Spanish versions</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">,</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">the English </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">versi</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">on </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">shall </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">solely and exclusively </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">prevail over the Spanish</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">version: </font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:35.4pt;text-align:center;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">A+((B+C)*</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;">Onzas Adicionales</font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;"> Estima</font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;">das</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">)</font>
		</p>
		<p style="margin:0pt 0pt 0pt 56.7pt;line-height:normal;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 54pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;text-decoration:underline;">Donde </font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;text-decoration:underline;">Onzas Adicionales Estimadas significa</font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;">: &nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 72pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;">El n&#xFA;mero de onzas de oro equivalente </font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;">Me</font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;">didas e Indicadas en los lotes amparados por las Concesiones, que sean estimadas conforme al </font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;">del Instrumento Nacional Canadiense 43-101 ("NI 43-101") en el momento de la Notificaci&#xF3;n de </font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;">la Decisi&#xF3;n de </font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;">Producci&#xF3;n antes mencionada, y que est&#xE9;n por encima de las onzas de oro equivalente </font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;">M</font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;">edidas e </font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;">I</font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;">ndicadas </font>
		</p>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			<font style="display: inline;">7</font>

		</p>

		<p style="margin:0pt 18pt 0pt 0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

		</p>

</div><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt 0pt 0pt 72pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;;font-size: 11pt"><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;">que fueron estimadas </font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;">al </font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;">4 de marzo de 2013 en la Evaluaci&#xF3;n Econ&#xF3;mica Preliminar NI 43-101</font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;"> llevada a cabo respecto de las Concesiones</font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;">. &nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 54pt;line-height:normal;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 54pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;text-decoration:underline;">Donde </font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;text-decoration:underline;">A &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;text-decoration:underline;">es igual a</font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;text-decoration:underline;">: &nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 72pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;">$8.00 dls. (ocho d&#xF3;lares 00/100 moneda de curso legal en los Estados Unidos de Am&#xE9;rica) multiplicados por el n&#xFA;mero de Onzas Adicionales Estimadas. </font>
		</p>
		<p style="margin:0pt 0pt 0pt 54pt;line-height:normal;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 54pt;line-height:normal;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 54pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;text-decoration:underline;">Donde </font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;text-decoration:underline;">B &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;text-decoration:underline;">es igual a</font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;text-decoration:underline;">:</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:72pt;"><p style="width:72pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 17.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;font-family:Arial;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9;line-height:100%;font-size:11pt;;"> -</font>
			</p>
		</td><td style="width:1pt;"><p style="width:1pt;width:1pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;">$0.00 </font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;">dls.</font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;">, si el precio del oro fuese a la fecha de Notificaci&#xF3;n de </font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;">la Decisi&#xF3;n de</font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;">Producci&#xF3;n de $1,600.00 dls. (mil seiscientos d&#xF3;lares 00/100 moneda de curso legal en los Estados Unidos de Am&#xE9;rica) o menos, o</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:72pt;"><p style="width:72pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 17.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;font-family:Arial;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;line-height:100%;font-size:11pt;;"> -</font>
			</p>
		</td><td style="width:1pt;"><p style="width:1pt;width:1pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;">$0.50 * dls. ((el precio del oro-1,600/100), si el precio del oro fuese a la fecha de Notificaci&#xF3;n de </font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;">la Decisi&#xF3;n de</font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;">Producci&#xF3;n de $1,600.01 (mil seiscientos d&#xF3;lares 01/100 moneda de curso legal en los Estados Unidos de Am&#xE9;rica) o m&#xE1;s. </font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 54pt;line-height:normal;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 54pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;text-decoration:underline;">Donde</font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;text-decoration:underline;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;text-decoration:underline;">C &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;text-decoration:underline;">es igual a</font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;text-decoration:underline;">:</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:72pt;"><p style="width:72pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 17.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;font-family:Arial;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9;line-height:100%;font-size:11pt;;"> -</font>
			</p>
		</td><td style="width:1pt;"><p style="width:1pt;width:1pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;"> $0.00 dls., si el precio del oro fuese a la fecha de Notificaci&#xF3;n de </font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;">la Decisi&#xF3;n de</font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;">Producci&#xF3;n&nbsp;&nbsp;de $1,800.00 dls. (mil ochocientos d&#xF3;lares 00/100 moneda de curso legal en los Estados Unidos de Am&#xE9;rica) o menos, o</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:72pt;"><p style="width:72pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 17.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;font-family:Arial;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;line-height:100%;font-size:11pt;;"> -</font>
			</p>
		</td><td style="width:1pt;"><p style="width:1pt;width:1pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;">US</font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;">$0.50 * dls. ((el precio del oro-1,800/100), si el precio del oro fuese a la fecha de Notificaci&#xF3;n de </font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;">la Decisi&#xF3;n de</font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;">Producci&#xF3;n de $1,800.01 (mil ochocientos d&#xF3;lares 01/100 moneda de curso legal en los Estados Unidos de Am&#xE9;rica) o m&#xE1;s.</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 56.7pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 56.7pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;">P</font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;">ara efectos de determinar el </font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;">Monto del Pago de Ajuste Proporcional</font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;"> previsto en esta Secci&#xF3;n, </font><font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-style:italic;font-size:11pt;">&#x201C;precio del oro&#x201D;</font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;"> significa, seg&#xFA;n la fecha de que se trate, el precio promedio del oro (Au) pm fix, durante los &#xFA;ltimos 10 (diez) d&#xED;as consecutivos anteriores a la fecha de pago, seg&#xFA;n sea determinado por el London Bullion Market en d&#xF3;lares moneda de los Estados Unidos de Am&#xE9;rica.</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-style:italic;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-style:italic;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 35.45pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">&#x201C;</font><font style="display: inline;">THE ESCALATOR PAYMENT AMOUNT shall be equal to the following formula:</font>
		</p>
		<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 56.7pt;text-align:center;line-height:100%;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">A+((B+C)*ADDITIONAL ESTIMATED OUNCES)</font>
		</p>
		<p style="margin:0pt 0pt 0pt 56.7pt;line-height:normal;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 56.7pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;text-decoration:underline;">Where ADDITIONAL ESTIMATED OUNCES means</font><font style="display: inline;"> the number of National Instrument 43-101 ("NI 43-101") compliant Measured and Indicated gold equivalent ounces at the time of the aforementioned production decision, over and above the Measured and Indicated gold equivalent ounces estimated in the March 4, 2013 NI 43-101 Preliminary Economic Assessment.</font>
		</p>
		<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;font-style:italic;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 56.7pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;text-decoration:underline;">Where A equals</font><font style="display: inline;"> US$8.00 multiplied by the number of ADDITIONAL ESTIMATED OUNCES </font>
		</p>
		<p style="margin:0pt 0pt 0pt 56.7pt;line-height:normal;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 56.7pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;text-decoration:underline;">Where B equals</font><font style="display: inline;">:</font>
		</p>
		<p style="margin:0pt 0pt 0pt 56.7pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">If the spot price of gold is $1,600 or less, $0.00</font>
		</p>
		<p style="margin:0pt 0pt 0pt 56.7pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">If the spot price of gold is $1,600.01 or greater,</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">$0.50*((the gold price - 1,600) / 100)</font>
		</p>
		<p style="margin:0pt 0pt 0pt 56.7pt;line-height:normal;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 56.7pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">

		</p>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			<font style="display: inline;">8</font>

		</p>

		<p style="margin:0pt 18pt 0pt 0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

		</p>

</div><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt 0pt 0pt 56.7pt;line-height:100%;font-family:Times New Roman;;font-size: 12pt"><font style="display: inline;text-decoration:underline;">Where C equals</font><font style="display: inline;text-decoration:underline;">:</font>
		</p>
		<p style="margin:0pt 0pt 0pt 56.7pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">If the spot price of gold is $1,800 or less, $0.00</font>
		</p>
		<p style="margin:0pt 0pt 0pt 56.7pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">If the spot price of gold is $1,800.01 or greater,</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">$0.50*((the gold price - 1,800) / 100)</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 56.7pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">For the purposes of determining the </font><font style="display: inline;">ESCALATOR PAYMENT AMOUNT contemplated in this Section, </font><font style="display: inline;font-weight:bold;">&#x201C;spot price of gold&#x201D;</font><font style="display: inline;"> shall mean on the applicable date, the average of the gold price (Au) pm fix, during the last </font><font style="display: inline;">ten (</font><font style="display: inline;">10) consecutive days prior to the date on which the payment should be made, as determined by the London Bullion Market in US dollars.</font><font style="display: inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 26.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> 4.1.</font>
			</p>
		</td><td style="width:10pt;"><p style="width:10pt;width:10pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Once </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">COBORO ha</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">s complied with the obligations set forth in this Clause, COBORO shall be considered as acquiring the remaining Thirty Percent</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">(</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">30%) </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">of the rights deriving from the Concessions</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">,</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> &nbsp;o</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">r the remaining Thirty Percent (</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">30%) </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">of the shares representing the capital stock of the NEW CORPORATION, as decided by COBORO and consistent with the exercise of the First Option. So at th</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">at time</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> COBORO shall have acquired</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">: (i) </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">One Hundred Percent (</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">100%) </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">of the rights deriving from the Concessions free from any lien or limitation of title, except for the obligation to pay the Underlying Royalties</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">and all the rights and obligations deriving from the Temporary Occupation Agreement a</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">n</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">d from the Lease Agreement</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">; &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">o</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">r</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> (ii) </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">One Hundred Percent (</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">100%)</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> of the shares of the capital stock of the NEW CORPORATION</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">which corporation, as aforementioned, if incorporated shall become the sole and legitimate owner of the Concessions,</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">in charge of paying the Underlying Royalties, and having all the rights and obligations deriving from the Temporary Occupation Agreement and from the Lease Agreement</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 26.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> 4.2.</font>
			</p>
		</td><td style="width:10pt;"><p style="width:10pt;width:10pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">The delivery of the Notification of the Production Decision and the payments set forth in Section 2.2 of the Second Clause shall be optional for COBORO, thus, if </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">not later than </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">the</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> day of the</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> tenth anniversary of the date of exercising the First Option</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">,</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> COBORO </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">fails to deliver to </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">MGS </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">the Notification of the Production Decision or</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">if having delivered it, fails to make the payments set forth in Section 2.2 herein </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">within five (</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">5) </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">business days following the</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> date of</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> delivery thereof</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, for all </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">the </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">purposes that may arise, it shall be understood</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">that</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> COBORO failed to exercise the Second Option</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, and in that case, had COBORO exercised the First Option, COBORO will keep its Seventy Percent (70%) interest</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">in the rights deriving from the Concessions, or Seventy Percent (70%) of the shares of the capital stock of the NEW CORPORATION</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">,</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> as the case may be, subject to provisions in the Sixth and Seventh Clauses herein</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">.</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 35.4pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;text-decoration:underline;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 26.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> 4.3.</font>
			</p>
		</td><td style="width:10pt;"><p style="width:10pt;width:10pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">It is hereby expressly agreed that from the DATE OF EXECUTION and up to the date any of the situations described below may arise, COBORO shall be the sole party in charge of providing all the funds required to pay all the investments, costs and expenses related to the Concessions, and related to the activities carried out there</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">on</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, the Temporary Occupation Agreement, the Lease Agreement and any other new contracts or agreements executed and, in general, to carry out all kinds of activities or work </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">on</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> the Concessions, including without limitation the Exploration and Development activities (as defined in Section 3.1 of the Third Clause of this Agreement), the exploitation activities (as described in the Fourth Clause of this Agreement) and any other extraction, production, processing and commercialization activities of the</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> minerals that may be </font>
		</p>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			<font style="display: inline;">9</font>

		</p>

		<p style="margin:0pt 18pt 0pt 0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

		</p>

</div></td></tr></table><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td><p style="margin:0pt 0pt 0pt 36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;;font-size: 11pt;"><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">carried out </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">on</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> the Concessions, either by COBORO, its contractors or by the NEW CORPORATION:</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 35.4pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:56pt;"><p style="width:56pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> a)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Up to the date when COBORO early terminates this Agreement, if applicable, pursuant to provisions in Section 1.3 of the First Clause herein;</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 74.7pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:56pt;"><p style="width:56pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> b)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Up to the date when COBORO delivers the Notification of the Production Decision to MGS and makes the payments set forth in Section 2.2 of this Second Clause to MGS</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">;</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 74.7pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:56pt;"><p style="width:56pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> c)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Up to the date when COBORO having definitively lost its right to exercise the Second Option, MGS exercises the Repurchase Option and makes COBORO the payments set forth in Section 6.1 of the Sixth Clause herein</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">; &nbsp;</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 35.4pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:56pt;"><p style="width:56pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> d)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Up to the date when COBORO having waived or definitively lost its right to exercise the Second Option, MGS also waives or defini</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ti</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">vely loses its right to exercise the Repurchase Option set forth in the Sixth Clause herein, or</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 35.4pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:56pt;"><p style="width:56pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> e)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Up to the date when both parties decide by mutual agreement to sell One Hundred Percent (100%) of the rights jointly held in the Concessions or in the NEW CORPORATION, according to the percentage of the equity share of each party, and such sale is made</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">.</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">The above means that if COBORO exercises the First O</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">p</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">tion and as a result acquires Seventy Percent (70%) of the rights deriving from the Concessions, or Seventy Percent (70%) of the shares representing the capital stock of the NEW CORPORATION, COBORO sh</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">all remain as the sole party in</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> charge of doing all the investments and </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">making all the </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">expenses required </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">regarding</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> the Concessions,</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> and the equity share of MGS in the Concessions or in the NEW CORPORATION shall not decrease or be diluted at any time up to the date when any of the aforementioned situations arises</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">.</font>
		</p>
		<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;">T</font><font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;">HIRD</font><font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;">. &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;text-decoration:underline;">Opera</font><font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;text-decoration:underline;">tor</font><font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;text-decoration:underline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;text-decoration:underline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">3.1. </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Dur</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ing the term of this Ag</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">r</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">eement COBORO, shall be the operator (&#x201C;Operator&#x201D;) of the Concessions. </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">The Operator shall be in charge of managing, </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">funding,</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">an</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">d performing at its own cost and risk all the</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> mining exploration and d</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">evelopment activities </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">on</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> the Co</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ncessions, and also </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">of g</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">etting any permits, licenses, authorizations or concessions required, if any, for the development of its activities and the activities of its contractors with the cooperation of MGS, if applicable, when MGS</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&#x2019;s cooperation</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> is </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">reasonably</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> required </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">and requested </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">i</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">n writing</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> by COBORO</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&#x201C;Explora</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">tion</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&#x201D; s</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">hall mean</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">: &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">all the activities carried out to determine the existence, location, amount, quality or com</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">m</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ercial value of the deposits of all the ore, metals and mineral resources produced under the terms of this Option Agreement, including but not limited to the addition</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">a</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">l drilling required after discovering the mineralization commercial potential, including any action related to the compliance with the applicable environmental provisions.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&#x201C;Development&#x201D; means all the preparation (other than the Exploration) required for the extraction and recovery of Products, including the construction and installation of a processing plant</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">or any other improvement used for mining, and the management, </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">milling, processing or </font>
		</p>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			<font style="display: inline;">10</font>

		</p>

		<p style="margin:0pt 18pt 0pt 0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

		</p>

</div><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;;font-size: 11pt"><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">any other beneficiation of the Products, and everything related to the compliance with the applicable environmental provisions.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">3.2. Dur</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ing the term of this Agreement</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, the Operator shall be the sole leg</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">itimate</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">possessor </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">of the Concessions, and as Operator </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">will</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> be able to perform its activities thr</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">o</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ugh contractors, and the Operator shall be solely </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">liable</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> for the activities performed by COBORO&#x2019;s contractors</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> hired for that purpose.</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">3.3. COBORO o</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">r its agents and contracto</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">rs shall conduct their operations </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">on</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> the Concessions in an adequate manner and in accordance with the generally accepted practices of the mining industry and in compliance with the Mining Law, its Regulations and other applicable laws, regulations and statutes applicable in Mexico, and </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">i</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">n accordance with the contracts, permits, licenses and other </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">a</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">greements related to the Concessions.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">COBORO shall perform its operations with the care and skill generally expected from an expert in the performance and management of mining activities of exploration, development and production, allowing the representatives appoi</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">nted in writing by MGS to have a</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ccess to the Concessions&#x2019; mining lots to inspect the </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">w</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ork carried out by COBORO or its contractors, provided that is carried out at the cost, risk and responsibility of MGS&#x2019;s representatives, in business days and hours and after such MGS&#x2019;s representatives previously inform in writing of their visit at least forty eight (48) hours in advance, and do not interfere with the activities being carried out by COBORO </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">on</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> the Concessions.</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;text-decoration:underline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;">FOURTH</font><font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;">. &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;text-decoration:underline;">Exploitation Rights limited to the Extraction of Bulk Samples</font><font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;text-decoration:underline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;text-decoration:underline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Dur</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ing the First Option period, COBORO is authorized to extract from the Concessions up to One Hundred (100) tons of ore per year, to perform all kinds of metallurgical tests (the &#x201C;Bulk Sample&#x201D;), and this shall be understood as the </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ma</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ximum limit of the rights to exploit granted to COBORO regarding the Concessions during the First Option Period</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">. &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> &nbsp; </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Su</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">bject to the payment of the Underlying Royalties that may be a</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">pplicable</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">for </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">the gains accrued from the processing and commercialization of any Bulk Sample </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">COBORO </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">shall </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">pay to MGS </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">30</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">%</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">of them</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, after deducting the costs involved in extraction and </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">smelting. &#x201C;Extraction&#x201D; means the preparation (other than the exploration) to remove and recover the Bulk Samples during the term of this Option Agreement, including the construction and installation of a pilot plant or any other improvement to be used for mining, or for the management, milling</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">,</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> processing or other beneficiation of Bulk Samples.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;">FIFTH</font><font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;">. &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;text-decoration:underline;">Incorporation of the NEW CORPORATION</font><font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;">.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">5.1. </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">If </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">COBORO </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">so decides at the moment of exercising the First Option and</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> notif</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ies </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">so to MGS, the Parties (hereinafter, each Party as a &#x201C;Participant&#x201D;) sh</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">a</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ll </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">create</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> a new corporation pursuant to Mexican business law, and such corporation may be a business co</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">rp</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">oration of </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">any</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> nature</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> as</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> decided by COBORO, </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">in its case</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, and shall include the provisions f</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">or the</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> business corporation chosen under the terms of the General Corporation </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Law</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> &nbsp;(</font><font style="display: inline;font-family:Book Antiqua;font-style:italic;font-size:11pt;">Ley de Sociedades Mercantiles</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">) (hereinafter, the &#x201C;NEW CORPORATION&#x201D;). The purpose of this NEW CORPORATION shall be to become the sole and legitimate owner of the Concessions, in charge of paying the Underlying Royalt</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">i</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">es </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">and the holder of all rights and obligations deriving from the Temporary Occupation Agreement and f</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">rom</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> the Lease Agreement.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">For this purpose each Participant shall contribute </font>
		</p>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			<font style="display: inline;">11</font>

		</p>

		<p style="margin:0pt 18pt 0pt 0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

		</p>

</div><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;;font-size: 11pt"><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">their pertaining interest in the Concessions in exchange f</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">or</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> receiving shares of the NEW CORPORATION that will reflect th</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">e</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ir p</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">articipating </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">interest in the Concessions at that date </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">and always subject to provisions in Section 2.5 of the Second Clause herein.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">The operational rules of the NEW CORPORATION shall be those</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> to be agreed by </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">the Parties </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">in due time </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">and, at their choice, </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">may</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> become part of the corporate bylaws of the NEW CORPORATION</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">or shall become part of a Shareholders&#x2019; Agreement of the NEW CORPORATION</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">.</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">5.2. </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Upon </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">COBORO exercises the Second Option, or </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">upon </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">MGS exercises the Repurchase Option, as such term</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">is defined herein below, as applicable, the equity interest of each Participant in the NEW CORPORATION will be amended to reflect their pertaining equity interest. If COBORO exercises the Second Option, COBORO and the individual or legal entity appointed thereby shall become the holder of One Hundred Percent (100%) </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">of the sh</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">a</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">res of this NEW CORPORATION; and if MGS exercises its R</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">e</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">purchase Option, MGS and the individual or legal entity appointed th</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">e</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">reby shall become the holder of One Hundred Percent (100%) of the shares of the NEW CORPORATION; in both cases</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> the new equity interest shall be reflected through a transfer of existing shares or of any other manner deemed convenient by both Parties in good faith.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">5.3. </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Should</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">COBORO rec</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">eive an offer </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">to purchase</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> the shares held thereby in the NEW CORPORATION, COBORO shall give written notice to MGS, and MGS shall have thirty (30) calendar days</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> as of the date of receiving such notice to exercise its preferential right to purchase the shares held by COBORO. In the event MGS fails to exercise the aforementioned preferential right, COBORO may sell its shares to the person willing to purchase COBORO&#x2019;s shares provided this purchase is done under the same terms, condit</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">i</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ons and </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">p</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">rice stated in the offer received by and notified to MGS for the exercise of the preferential right mentioned above, provided such transfer is </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">of</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> COBORO&#x2019;s full equity interest and not a l</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ower</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> percentage, a</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">nd the third buyer expressly sub</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">rogates in writing all COBORO&#x2019;s rights and obligations under this Agreement, as if such third party had become a party hereof from the time of execution. In the event this offer received by COBORO is for One Hundred Percent (100%) of the shares of the capital stock of the NEW CORPORATION the provisions mentioned above concerning MGS</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&#x2019;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">s preferential rights shall be appli</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ed</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">The provisions above shall be included in the corporate bylaws of the NEW CORPORATION</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">. &nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">5.4. </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">If </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">COBORO de</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">cides not to cr</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">e</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ate the NEW CORPORATION, any reference in this Agreement </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">to</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> the participation of a Participant in the NEW CORPORATION shall be understood as a reference to a </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">direct </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">co</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">-</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ownership of such Participant in the </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">legal title of the Concessions</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">.</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;">S</font><font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;">IXTH</font><font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;">. &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;text-decoration:underline;">MGS&#x2019;s Repurchase Option</font><font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">6.1. </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">If </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">COBORO e</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">xercises the First Option and fails to deliver to MGS the Notification of the Production Decision&nbsp;&nbsp;on </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">day of the tenth anniversary of the date of exercising the First Option</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, at the latest, </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">or</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">if having delivered such notification fails to make the payments set forth in Section 2.2 of this Agreement </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">within five (</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">5) </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">business days following the </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">date of </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">delivery thereof</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">,</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">and consequently</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> COBORO </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">loses its right to exercise the Second Option, subject to provisions in the Seventh Clause herein, MGS</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">from the moment COBORO definitively loses its right to exercise the Second Option and during sixty (60) calendar days following that date</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">,</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">shall </font>
		</p>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			<font style="display: inline;">12</font>

		</p>

		<p style="margin:0pt 18pt 0pt 0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

		</p>

</div><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;;font-size: 11pt"><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">have the option to repurchase the Seventy Percent (</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">70%) </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">equity </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">interest in the Concessions acquired by</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> COBORO </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">together with Seventy Percent (</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">70%) </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">of the rights and obligations of the Temporary Occupation Agreement and of the Lease Agreement also acquired by </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">COBORO,</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">o</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">r Seventy Percent (</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">70%) </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">of the shares of stock of the NEW CORPORATION held by </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">COBORO (</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">the</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> &nbsp;&#x201C;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Repurchase Option</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&#x201D;). </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">If</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> MGS inform</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">s</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> COBORO </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">its intention to exercise the Repurchase Option</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">which has to be exercised within </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">the aforementioned</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> sixty (60) calendar-day term </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">(&#x201C;Repurchase</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> Notice</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&#x201D;)</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">,</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> MGS shall pay</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> COBORO</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">the amount of Five Million Dollars (US</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">$5,000,000.00 dls.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">) legal tender of the United States of America, plus the </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Escalator Payment Amount defined in Section 2.2 herein</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">. &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Should </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">MGS </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">fail to notify</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> COBORO </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">its decision to go for the Repurch</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">a</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">se Option within the aforementioned term, this shall be understood as </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">a decision not to pursue such Repurchase Option</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">. &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">If willing to exercise the Repurchase Option, MGS shall pay COBORO the pertaining amount within five (5) business days following the date of the notice sent to COBORO to exercise the</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> Re</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">purchase Option</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">6.2. </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">If according to provisions in the preceding Section, MGS decides not to exercise the Repurchase Option, COBORO shall be entitled to maintain its percentage of equity inter</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">est</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> of Seventy Percent (70%). Therefore, in this event, if the NEW CORPORATION had not been incorporated, the Parties shall irrevocably undertake to create such corporation within the following Thirty (30) calendar days.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> COBORO </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">shall keep Seventy Percent (</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">70%</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">) of the shares of the capital stock of the NEW CORPORATION and MGS the remaining Thirty</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> Percent</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> (30%)</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">.</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">6.3. </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">The payments mentioned in the preceding Section</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> 6.1.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, are optional for MGS. Therefore</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">,</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> if MGS does not deliver the Repurchase Notice to COBORO within the term mentioned in Section</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> 6.1., </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">or</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">if having deliv</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">e</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">red the Notice the payments set forth in Section 6.1 of this Clause are not made within the next Five (5) business days</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">--for all purposes that may arise&#x2014;this shall be understood as MGS failing to exercise the Repurchase Option, which Option </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">sha</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ll be terminated.</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">6.4. </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">If at any time after exercising the First Option but before delivering the Notification of the Production Decision to MGS, </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">COBORO </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">wishes to assign or to give as an option to a third party other than the companies being part of its corporate group</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> (&#x201C;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">T</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">hird</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> Party</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Assignee</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&#x201D;)</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Seventy Percent (</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">70%) </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">of the rights deriving from the Concessions or Seventy Percent (70%) of the shares of stock of the NEW CORPORATION held by COBORO, MGS shall have the prefe</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">re</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ntial right to acquire the afor</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">e</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">mentioned percentage of interest held by COBORO in the Concessions or in the NEW CORPORATION, </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">under the same terms, conditions and price offered by such third party. </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">For purpose</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">s</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> of this</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">preferential right</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">the following procedure shall be applied</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">:</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> a)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">COBORO </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">shall deliver a notice in writing to</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> MGS </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">with the offer to sell its Seventy Percent (</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">70%) </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">equity interest in the Concessions or in the NEW CORPORATION and stating the </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">p</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">rice and other terms and conditions of such offer</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">. &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">If within thirty (30) days after the receipt of such notice, MGS inform in writing to COBORO its wish to accept the offer, COBORO shall be bound to sell MGS or whoever MGS indicates such Seventy Percent (70%) of equity interest in the Concessions or in the NEW CORPORATION at the price and under the terms and conditions in the offer. </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">If MGS chooses not to accept the offer, or fails to inform COBORO before the aforementioned term elapses that MGS will buy such percentage of equity interest offered</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, COBORO may sell and transfer such percentage of equity interest in the Concession or in the NEW CORPORATION to any </font>
		</p>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			<font style="display: inline;">13</font>

		</p>

		<p style="margin:0pt 18pt 0pt 0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

		</p>

</div></td></tr></table><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td><p style="margin:0pt 0pt 0pt 36pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;;font-size: 11pt;"><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">thi</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">r</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">d party, at the </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">p</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">rice and under the</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> terms and conditions stated in the offer, provided such transfer is for the full percentage of equity interest held by COBORO and not for a lower percentage, and the third party buyer (the &#x201C;Third Party Assignee&#x201D;) expressly subrogates in writing the full rights and obligations pertaining to COBORO, pursuant to this Agreement </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">as if such </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Third Party Assignee</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">h</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ad been a Party hereof from the time of execution</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font></p></td></tr></table></div>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> b)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">In the event MGS decides not to exercise its preferential right, or if COBORO </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">chooses</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> to assig</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">n</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> the Seventy Percent</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> (70%) of the rights deriving from the Concessions or Seventy Percent (70%) of the shares of the NEW CORPORATION ow</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">n</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ed by COBORO, </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">to a Company belonging to its corporate group </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">(</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">the</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> &nbsp;&#x201C;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Permi</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">tted Assignee</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&#x201D;)</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">the latter shall in like manner expressly subrogate in writing the full rights and obligations pertaining to COBORO pursuant to this Agreement, as if the Permitted</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> Assignee had been part thereof from the time of execution. </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">After this MGS shall grant its consent to such option, sale or assignment, and such consent may not be unreasonably </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">withheld</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> by MGS</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">. &nbsp;</font></p></td></tr></table></div>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;">S</font><font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;">EVENTH</font><font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;">. &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;text-decoration:underline;">Default</font><font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;text-decoration:underline;">.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">If any of the Parties fails to comply with any of its obligations pursuant to this Agreement, the party affected by such default may notify in</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">writing t</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">o</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> the </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">defaulting</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> party (&#x201C;Notice of Default&#x201D;), and the </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">defaulting </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">party</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> shall correct such default as follows (i) </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">within (5) business days</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">following the receipt of the Notice of Default </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">when </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">related to the failure to pay any of the amounts to be paid under the terms of this Agreement; (ii) within Thirty (30) calendar days following the receipt of the Notice of Default related to a </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">default</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> other tha</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">n</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> the failure to pay, and provided such default may be reasonably corrected during such period; or (iii) if the default is, because of its nature, impos</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">s</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ible to be corrected within a Thirty (30) day term, and the defaulting party ha</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">s</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> started to take reasonable measures to begin to correct such default within the </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Thirty</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> (30) day period mentioned herein, the defaulting party will be granted additional time that may be reasonable required to correct such default, provided the defaulting party continues regularly and diligently taking the measures to correct such def</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">a</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ult during such a period, which period in no case shall exceed Ninety (90) calendar day</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">s</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> after receiving the afor</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">e</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">mentioned Notice of Default.</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">After the terms stated for each type of default have elapsed and the defaulting party has fail</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">e</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">d to fully correct such default, this shall entitle the other party affected by such default to immediately rescind this Agreement without requiring a court order;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">it is expressly agreed that if the rescission of this Agreement occurs </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">given </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">a default attributable to COBOR</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">O</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> not </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">remediated </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">in time thereby, all the amounts received by MGS up to the date of the rescission of this Agreement shall remain for the benefit of MGS as </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">a penalty </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">applicable to COBORO&#x2019;s default, and therefore MGS shall be under no obligation to return any amount whatsoever to COBORO</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;">EIGHTH</font><font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;">. &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;text-decoration:underline;">A</font><font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;text-decoration:underline;">rea </font><font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;text-decoration:underline;">of interest</font><font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;text-decoration:underline;">.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Any mining concession application or mining concession acquired during the term of this Agreement in any manner by COBORO or any of COBORO&#x2019;s officers, agents or representatives, or by any corporation of COBORO&#x2019;s corporate group</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> (related party) and located within a two (2) kilometer perimeter starting from the external perimeter of the Concessions (&#x201C;Area of Interest&#x201D;) shall be considered subject to all the terms </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">and conditio</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ns of this Agreement under the</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> meaning of the</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> &#x201C;Conce</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ss</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ions&#x201D;.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">The above, with the understanding that should COBORO fail to exercise the First Option and decide to early terminate this </font>
		</p>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			<font style="display: inline;">14</font>

		</p>

		<p style="margin:0pt 18pt 0pt 0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

		</p>

</div><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;;font-size: 11pt"><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Agreement, COBORO shall transfer to MGS all the rights deriving from these </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">concessions </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">applications or concessions acquired in the Area of Interest for the total amount of One Thousand Dollars (</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">US</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">$1,000.00 </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">legal tender of the United States of</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> &nbsp;A</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">me</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">rica), </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">provided</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> MGS </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">states in writing its interest to acquire such concessions or concessions applications within Fifteen (15) calendar days following the date of receiving the notice of early termination of this Agreement</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">; &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">and also that, should </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">COBORO e</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">xercise the First Option but not the Second Option, </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">COBORO </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">shall transfer to</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> MGS </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">as soon as requested thereby and free from charge Thirty Percent (30%) of all the rights deriving from such concessions applications or concessions acquired within the Area of Interest</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> &nbsp; </font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;">N</font><font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;">INTH</font><font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;">. &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;text-decoration:underline;">Nonperformance due to an Act of God or Force Majeure</font><font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;text-decoration:underline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-weight:bold;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;">9.1.</font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;">If any of the Parties fails to perform its obligations pursuant to this Agreement or</font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;">is prevented </font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;">from</font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;"> comply</font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;">ing</font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;"> with the terms, obligations or covenants in this Agreement due to a reason beyond its control</font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;">, &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;">either foreseeable or not, excluding the lack of funds or any other financial situation that may affect the financial situation of such Party, but including acts of God or forc</font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;">e</font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;"> majeure</font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;">, &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;">such as</font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;">: &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;">fire, flooding, earthquakes, </font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;">cave-ins or landslides, interruption or delays in the transportation of feeding sources; strikes, sit-down strikes, or any other labor riots; third-pa</font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;">rty blockades to the a</font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;">rea where the Concessions are located; wars, guerrilla wars; mutinies, new governmental regulations preventing mining work; extreme environmental con</font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;">d</font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;">itions preventing the performance of mining work; legal proceedings or claims filed by third parties either private entities, ejidos or communities wh</font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;">e</font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;">re the Concessions are locate</font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;">d</font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;">, provided</font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;"> &#x2013;in view</font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;"> th</font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;">e</font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;">reof</font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;">-</font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;"> the performance of the mining work foreseen in this Agreement is prevented (</font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;">&#x201C;</font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;">EVENT DERIVING FROM AN ACT OF GOD OR FORCE MAJEURE&#x201D;), shall not be considered as a </font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;">default</font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;"> of such Party, provided such an event had not been caused by an action, omission or negligence attributable to such Party and, if such event remains for mor</font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;">e</font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;"> than Thirty (30) calendar days, all the terms set forth in this Agreement shall be extended for a period equal to the duration of the EVENT DERIV</font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;">ING</font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;"> FROM AN ACT OF GOD OR FORCE MAJE</font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;">URE. </font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;">With the understanding that should the aforementioned EVENT DERIVING FROM AN ACT OF GOD OR FORCE MAJEURE remain after One Hundred and Eighty (180) calendar days as of the date of its occurrence, any of the Parties may terminate this Agreement without any liability </font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;">providing notice in writing to the other Party</font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;">.</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-weight:bold;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-weight:bold;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;">9.2. </font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;">With the purpose of applying the provisions in the preceding Section 9.1, the Party under an event considered</font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;">an EVENT DERIVING FROM AN ACT OF GOD OR FOCE MAJEURE shall immediately notify in writing to the other Party every new event of default or </font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;">impediment</font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;"> to comply, and shall state in such notice the deta</font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;">i</font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;">ls of the EVENT DERIVING FROM AN ACT OF GOD OR FORCE MAJEURE, and the date of occurren</font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;">c</font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;">e. Additionally, </font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;">such Party </font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;">shall take all the necessary measures to eliminate the negative impact of any EVENT DERIVING FROM AN ACT OF GOD OR FORCE MAJEURE, and if possible, duly comply with its obligations</font><font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;">. &nbsp;</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-weight:bold;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-weight:normal;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">9.3.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> &nbsp;I</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">mmediately after the effects of an EVENT DERIVING FROM AN ACT OF GOD OR FORCE MAJEURE end, the Party impacted thereby shall notify the other Party the suspensi</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">o</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">n thereof</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">.</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;">&nbsp;</font>
		</p>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			<font style="display: inline;">15</font>

		</p>

		<p style="margin:0pt 18pt 0pt 0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

		</p>

</div><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt;border-bottom:1pt none #D9D9D9 ;font-weight:bold;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">TENTH</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">. &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;text-decoration:underline;">Confiden</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;text-decoration:underline;">tiality</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;text-decoration:underline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;font-weight:bold;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">10.1. </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Dur</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ing the term of this Agreement and up to six (6) months after COBORO exercises the options included herein, the Parties shall </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">consider</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> and keep as confidential all the subject</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">-</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> matters related to the execution and content of this Agreement, as well as any information exchanged thereby, giving it the status of confidential regarding the Concessions and the activities carried out there</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">on</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> (the &#x201C;Confidential Information&#x201D;), and shall not make any public disclosure of the Confidential Information without prior consent in writing from the other Party, which consent shall not be unreasonably withheld . The above, except when in view of the stock market laws applicable, the rules and regulations of the stock market or any other statutes applicable to the Parties or to the parent </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">c</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ompan</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ies</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> of the corporate group to which the Parties belong, may require </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">the Parties to make </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">such disclosures, publications or press releases. Notwithstanding the above, the Parties are entitled to disclose Confidential Information to potential investors or creditors provided the Parties, before such disclosure, obtain from such potential investors or credit</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">or</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">s their express obligation in writing of keeping the same degree and scope of confidentiality regarding all the</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Confiden</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">t</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ial </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">I</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">nforma</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">tion</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">.</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">10.2. </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Each of the Parties shall provide the other</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">at least two business days before </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">the</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> publication</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> thereof</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">,</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> a copy of any press release intended to be published</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> in relation </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">to the Concessions, the activities</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> performed in the Concessions</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, or this Agreement</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">,</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> to be revi</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ewed </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">by, </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">and to receive comments from</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">,</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> the other Party, which Party shall not unreasonably delay such revision in view of the timely disclosure obligations that may be applicable</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">. &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">The Parties shall do all reasonable efforts to immediately deliver the comments they may have to the other Party regarding such press releases, but in any event, on the next business day following the date the draft of the pertaining press release is received</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">.</font>
		</p>
		<p style="margin:0pt;font-weight:bold;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;text-decoration:underline;">ELEVENTH</font><font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;text-decoration:underline;">. Noti</font><font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;text-decoration:underline;">ces</font>
		</p>
		<p style="margin:0pt 0pt 0pt 21.3pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:35pt;"><p style="width:35pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 20.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> a)</font>
			</p>
		</td><td style="width:1pt;"><p style="width:1pt;width:1pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;">Delivery </font><font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;">M</font><font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;">ethod</font><font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;">.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Any notice, request or other communication</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> &nbsp;(</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">in this Section a</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> "noti</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ce</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">") requi</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">red or allowed to be made or delivered, shall be in writing and shall be consid</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">e</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">red duly </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">sent</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> if delivered in person</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">or th</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">r</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ough a specialized </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">c</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ourier service, or via e-mail with acknowle</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">d</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">gment of receipt</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">:</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 21.3pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 42.6pt;text-indent:14.1pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Notices for</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> MGS</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> shall be addressed as follows</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">:</font>
		</p>
		<p style="margin:0pt 0pt 0pt 92.7pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 72pt;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Minera Gold Stake, S.A. de C.V.</font><br /><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">c/o Vista Gold Corp.</font>
		</p>
		<p style="margin:0pt 0pt 0pt 72pt;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">7961 Shaffer Pkwy</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Suite 5</font>
		</p>
		<p style="margin:0pt 0pt 0pt 72pt;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Littleton, Colorado 80127</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">USA</font>
		</p>
		<p style="margin:0pt 0pt 0pt 72pt;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">At</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">tention</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">:</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;;font-size: 11pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Frederick H. Earnest, President &amp; CEO</font>
		</p>
		<p style="margin:0pt 0pt 0pt 72pt;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">E-mail:</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;;font-size: 11pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">fhearnest@vistagold.com</font>
		</p>
		<p style="margin:0pt 0pt 0pt 72pt;line-height:normal;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 56.7pt;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Notices</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> for</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> COBORO </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">shall be addressed as follows</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">:</font>
		</p>
		<p style="margin:0pt 0pt 0pt 72pt;line-height:normal;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 72pt;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Coboro Minerales de M&#xE9;xico, S.A. de C.V. </font>
		</p>
		<p style="margin:0pt 0pt 0pt 70.8pt;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">c/o </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Cangold Limited.</font><br /><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"></font><font style="display: inline;font-family:Calibri;font-size:11pt;">800 - 333 Seymour Street</font>
		</p>
		<p style="margin:0pt 0pt 0pt 35.4pt;text-indent:35.4pt;line-height:100%;font-family:Times New Roman;font-size: 11pt">

		</p>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			<font style="display: inline;">16</font>

		</p>

		<p style="margin:0pt 18pt 0pt 0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

		</p>

</div><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt 0pt 0pt 35.4pt;text-indent:35.4pt;line-height:100%;font-family:Times New Roman;;font-size: 11pt"><font style="display: inline;font-family:Calibri;font-size:11pt;">Vancouver, BC V6B 5A6</font>
		</p>
		<p style="margin:0pt 0pt 0pt 72pt;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Atenci&#xF3;n:</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;;font-size: 11pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Robert Archer, President &amp; CEO </font>
		</p>
		<p style="margin:0pt 0pt 0pt 72pt;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">E-mail:</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;;font-size: 11pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">rarcher@greatpanther.com</font>
		</p>
		<p style="margin:0pt 0pt 0pt 72pt;line-height:normal;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 20.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> b)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;">Delivery</font><font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;">. &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Any notice delivered in accordance with this Tenth Clause shall be deemed received if delivered before </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">5:00 pm (</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">time of the addressee</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">),</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> on the da</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">te</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> of delivery, if that is a business day in the place of delivery</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, or if not a business day, o</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">n the first business day in the place of delivery</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> after that date</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">.</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 35.4pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 20.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;line-height:100%;font-family:Times New Roman;font-size:11pt;;"> c)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 11pt;margin:0pt;">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Any of the Parties may change its domicile or its e-mail address and shall give written notice of such changes to the other Party, according to provisions in this Clause. It is hereby expressly agreed that should any of the Parties fail to give notice to the other Party of any change of domicile or of its e-mail address it shall be expressly understood that all changes made concerning the last domicile or the last e-mail address </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">stated</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> by the addressee</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> with acknowledgment of receipt</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, shall be fully valid and in full force and effect.</font></p></td></tr></table></div>
		<p style="margin:0pt;border-bottom:1pt none #D9D9D9 ;font-weight:bold;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 35.45pt;text-indent: -35.45pt;border-top:1pt none #D9D9D9 ;font-weight:bold;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">TWELFTH</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">. &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;text-decoration:underline;">Miscellaneous Provisions</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;text-decoration:underline;">.</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">12.1. </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">The Parties hereby agree that during the term of this Agreement and in the development of their respective activities, they shall faithfully comply with all the obligations imposed by the Mining Law, its Regulations and all provisions on environmental matters, water, safety and h</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">y</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">giene in mines, labor and fiscal matters and all other applicable legal provisions. Furthermore, they hereby agree not to incur in any cause for annulment, cancellation, suspension, invalidation of rights related to expropriated property or resolutions for temporary occupation or the incorporation of easements mentioned in the Mining Law with respect to the Concessions</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">.</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">12.2 </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">In view</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> that</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> no labor relationship </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">exists </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">now</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">or </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">in the future between the workers or contractors of each Party with respect to the other Party, COBORO and MGS hereby agree that each Party shall a</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">s</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">sume </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">all labor liabilities concerning</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> social security, fiscal matters and others with respect to its own workers and contractors. Ther</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">e</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">fore, each Party hereby agrees to hold the other Party har</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">mless from any claim, complaint or</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> charges that could be filed by the workers or employees of such Party, by its contractors or by the labor or administrative authorities, and hereby agree to indemnify the other Party for </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">any</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> amounts </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">incurred</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, if any, if such Party had been forced or sentenced to pay such amounts by a competent authority.</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Additionally</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, COBORO hereby assumes all liabilities deriving from its actions or omissions and hereby agrees to pay all damages incurred thereby or by its employees, workers or contractors as of the DATE OF EXECUTION of this Agreement regarding the Concessions, whether by the use or operation of any machinery, equipment and/or vehicle owned thereby or by third parties, or due to any other cause attributable to COBORO or to its contractors, including those related to damages suffered by third parties whether personal or material damages, when such damages or losses derive from actions or omissions attributable to COBORO or its contractors</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">COBORO </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">hereby agrees to hold MGS</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">,</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> its succes</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">s</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ors, executives, employees, consultants and permitted assignees harmless from any claim, complain</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">t</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, filing o</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">f</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> charges and/or civil, administrative or criminal pro</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">c</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">eedings filed by any individual or legal entity or by any </font>
		</p>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			<font style="display: inline;">17</font>

		</p>

		<p style="margin:0pt 18pt 0pt 0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

		</p>

</div><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;;font-size: 11pt"><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">authority from any governmental level against MGS or against such persons, for acts or omissions attributable to COBORO and /or its contractors.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">In like manner</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, MGS a</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ssumes all liabilities derived from its own actions or omissions and hereby agrees to pay all damages caused by MGS or its employees after evidence has been provided that such damages were caused by MGS on the Concessions prior to the DATE OF EXECUTION of this Agreement, either resulting from the use and/or operation of any machinery, equipment and/or vehicle owned ther</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">e</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">by, or </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">from any other cause attr</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ibutable to MGS, including damages suffered by a third party, either personal or property damages, when such damages or losses derive from acts or omissions attributable to MGS</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">. MGS undertakes to hold COBORO, its successors, management, offi</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">c</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ers, employees, advisors or permitted assignees harmle</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">s</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">s from any claim, complain</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">t</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, accusation and/or civil, administrative or criminal proceedings filed by any individual, legal entity or authority from any level of government against COBORO or such persons, for acts or omissions att</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">r</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ibutable to MGS.</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">12.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">3</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">. &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Each Party shall be respo</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">n</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">sible </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">for the</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> compl</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">iance</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> with their tax obligations under the terms of the applicable legal provisions.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> Furthermore, each Party shall be held liable for the payment of their own expenses, including legal fees and expenses incurred upon the execution of this Agreement, with the exception of the fees charged by the Civil Law Notary or Public Commercial Attestor when performing the formalization of this Agreement before a certifying public officer, and of the duties to be paid to record this Agreement with the Public Registry of Mining, which shall solely be paid by COBORO, and COBORO hereby undertakes to record this Agreement&nbsp;&nbsp;with the Public Registry of Mining or with any other applicable registry office</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">.</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">12.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">4</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">. &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Each Party may assign</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">,</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> with the consent of the other Party, w</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">h</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ich consent may not be un</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">reasonabl</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">y withheld, all the rights and obligations acquired pursua</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">nt to this Agreement&nbsp;&nbsp;to a comp</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">a</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ny belo</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">n</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">g</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ing to the same corporate group (an Affiliate), provided</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">: &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">(i) </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">this is a full assignment of rights and obligations, since a partial assignment of rights and obligations is not allowed herein;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> (ii) </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">the Affiliate has legal capacity pursuant to Mexican law to acquire such rights and obligations, and</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> (iii) </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">the Affiliate expressly subrogates in writing and without any limitation all of the rights and obligations that pursuant to this Agreement pertain to the Assigning Party, as if such Affiliate had be </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">a &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">part</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">y</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> hereof from the time of execution. Any assignment of rights that contravenes the aforementioned shall be null and void.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">12.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">5</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">. &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">This Agreement is</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> executed</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> for the benefit of the Parties and binds the Parties as well as their respecti</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ve</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> succes</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">s</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ors and permitted assignees</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">.</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">12.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">6</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">. &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">The Parties shall timely sign and immediately deliver all of the additional documents and shall take all the ad</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">d</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">itional measures that are reasonably convenient or required in order for the provisions and the intent of this Agreement to be fully effective</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">.</font>
		</p>
		<p style="margin:0pt 0pt 0pt 35.45pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">12.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">7</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">. &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Any waiver by one of the Parties of the provisions of this Agreement shall not be valid unless it is done in writing and signed by the Party entitled </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">there</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">to</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, through an attorney in fact with sufficient powers and authorities therefor.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">The fact that any right or remedy is not exercised or </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">is </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">delayed shall not be considered a </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">waiver of such rights or remedi</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">es.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Waivers to the nonperformance of any provision in this Agreement shall not be considered a waiver of </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">a &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">subsequent nonperformance of the same provision.</font>
		</p>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			<font style="display: inline;">18</font>

		</p>

		<p style="margin:0pt 18pt 0pt 0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

		</p>

</div><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt 0pt 0pt 35.45pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">12.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">8</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">. &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Any amendments, additions, supplements, reformulation of the provisions in this Agreement shall not be valid or bin</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">d</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ing unless in writing and signed and ratified by both Parties before a certifying public officer</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">.</font>
		</p>
		<p style="margin:0pt 0pt 0pt 35.45pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">12.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">9</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">. &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">The payments m</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">a</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">de by one of the Parties to the other pursuant to this Agreement may be made through electronic transfer of f</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">u</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">nds, or with check personally delivered or delivered by overnight courier service at the address of the beneficiary of such payment provided for in the Eleventh Clause herein, as indicated by the beneficiary of the payment at least Three (3) days before the date of the pertaining payment</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">.</font>
		</p>
		<p style="margin:0pt 0pt 0pt 35.45pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">12.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">10</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">. &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Notwithstanding the nature of this Agreement</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">, the Parties expressly state that in the conventions herein there is no injury and in the event thereof, they expressly waive their right to ask for </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">voidable action or relative nullity mentioned in Articles 2228 and 2239 of the Civil Code for the Federal District and the corresponding articles of the Civil Codes for the States of the </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">United Mexican States</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">.</font>
		</p>
		<p style="margin:0pt 0pt 0pt 35.4pt;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">12.1</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">1</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">. &nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">This </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Agreement is entered into under the terms of the legislation in effect in the United Mexican States, is of a business nature pursuant to provisions in article 78 of the Code of Commerce. </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Therefore</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">,</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> for anything not expressly agreed herein and for the interpretation and compliance therewith, the legal provisions applicable in the United Mexican States shall be applied, and particularly the provisions of the Mining Law, its Regulations and the Code of Commerce, and </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">the supplemental application of the Federal Civil Code for anything not included in the first statutes.</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">In the event of any lawsuit, dispute or claim deriving from or related to this Agr</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">e</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">ement, the Parties expressly agree to subject themselves to the jurisdiction of the competen</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">t</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> federal courts of Mexico City, Federal District, and the Parties hereby expressly waive any other f</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">o</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">rum that may correspond to them in view of their present</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">or future domiciles or because of any other reason</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">.</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">This Agreement is executed on</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">April 14</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">,</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> 2014, </font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">one counterpart for each of the Parties</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">.</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;">MINERA GOLD STAKE, S.A. DE C.V.</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;;font-size: 11pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">(illegible signature)</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">By</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">:</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;;font-size: 11pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"></font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Gonzalo Zavala Ruiz</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;;font-size: 11pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"></font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Attorney-in-fact</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;"></font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-weight:bold;font-size:11pt;">COBORO MINERALES DE M&#xC9;XICO, S.A. DE C.V.</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;;font-size: 11pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">(</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">illegible</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"> signature)</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">By</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">:</font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;;font-size: 11pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"></font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Sandra Esther Ram&#xED;rez Vinay</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;;font-size: 11pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;"></font><font style="display: inline;font-family:Book Antiqua;font-size:11pt;">Attorney-in-fact</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Book Antiqua;font-size:11pt;">&nbsp;</font>
		</p>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			<font style="display: inline;">19</font>

		</p>

		<p style="margin:0pt 18pt 0pt 0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

		</p>

</div><hr size="3" style="color:#999999" width="100%" align="center"></hr>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>vgz-20140417ex991778fa5.htm
<DESCRIPTION>EX-99.1
<TEXT>
<!--HTML document created with Rivet Software Powered by Crossfire-->
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<html>
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		<title>
			vgz - 2014417 - GDLR option agreement EX 991
		</title>
	</head>
	<body><div style="margin-left:50pt;margin-right:54pt;"><div style="width:100%">

		<p style="margin:0pt;line-height:100%;font-family:Calibri;font-size: 11pt">

			&nbsp;

		</p>

</div>
		<p style="margin:0pt;text-align:right;line-height:115%;font-family:Calibri;font-size: 11pt">
			<a name="_GoBack"></a><font style="display: inline;font-family:Times New Roman;font-weight:bold;">EXHIBIT 99.1</font>
		</p>
		<div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width:522.90pt;font-family:Times New Roman;font-size:10pt;margin-left:0pt;">
			<tr>
				<td rowspan="2" valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:126.90pt;height:25.45pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:115%;font-family:Calibri;overflow: hidden;font-size:0pt;">
						<font style="display: inline;"><img src="vgz-20140417ex991778fa5g1.jpg" style="width: 1.572917in; height: 1.010417in" alt="g115341mmi001.jpg"></font></p>
				</td>
				<td rowspan="2" valign="bottom" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:148.50pt;height:25.45pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;font-family:Calibri;font-size: 11pt">
						<font style="display: inline;">7961 Shaffer Parkway </font></p>
					<p style="margin:0pt;line-height:100%;font-family:Calibri;font-size: 11pt">
						<font style="display: inline;">Suite 5</font></p>
					<p style="margin:0pt;line-height:100%;font-family:Calibri;font-size: 11pt">
						<font style="display: inline;">Littleton, CO&nbsp;&nbsp;80127</font></p>
					<p style="margin:0pt;line-height:100%;font-family:Calibri;font-size: 11pt">
						<font style="display: inline;">Phone:&nbsp;&nbsp;720-981-1185</font></p>
					<p style="margin:0pt;line-height:100%;font-family:Calibri;font-size: 11pt">
						<font style="display: inline;">Fax:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720-981-1186</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:247.50pt;height:37.85pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;font-family:Calibri;font-size: 11pt">
						<font style="display: inline;">Trading Symbol:&nbsp; </font><font style="display: inline;font-weight:bold;">VGZ </font></p>
					<p style="margin:0pt;line-height:115%;font-family:Calibri;font-size: 11pt">
						<font style="display: inline;font-weight:bold;">Toronto and NYSE MKT Stock Exchanges</font></p>
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			</tr>
		</table></div>
		<p style="margin:0pt 0pt 10pt;line-height:115%;font-family:Calibri;font-size: 11pt">
			<font style="display: inline;"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="display: inline;"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="display: inline;font-family:Times New Roman;"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Calibri;font-size: 24pt">
			<font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:24pt;">__________________ NEWS _________________ </font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Calibri;font-size: 12pt">
			<font style="display: inline;font-family:Cambria;font-size:12pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:100%;text-align:center;font-family:Calibri;font-size: 12pt">
			<font style="display: inline;font-weight:bold;font-family:Times New Roman;font-weight:bold;text-transform:uppercase;font-size:12pt;">Vista Gold Corp. </font><font style="display: inline;font-weight:bold;font-family:Times New Roman;font-weight:bold;text-transform:uppercase;font-size:12pt;">ANNOUNCES</font><font style="display: inline;font-weight:bold;font-family:Times New Roman;font-weight:bold;text-transform:uppercase;font-size:12pt;">&nbsp;</font><font style="display: inline;font-weight:bold;font-family:Times New Roman;font-weight:bold;text-transform:uppercase;font-size:12pt;">OPTION </font><font style="display: inline;font-weight:bold;font-family:Times New Roman;font-weight:bold;text-transform:uppercase;font-size:12pt;">AGREEMENT </font><font style="display: inline;font-weight:bold;font-family:Times New Roman;font-weight:bold;text-transform:uppercase;font-size:12pt;">ON </font><font style="display: inline;font-weight:bold;font-family:Times New Roman;font-weight:bold;text-transform:uppercase;font-size:12pt;">THE </font>
		</p>
		<p style="margin:0pt;line-height:100%;text-align:center;font-family:Calibri;font-size: 12pt">
			<font style="display: inline;font-weight:bold;font-family:Times New Roman;font-weight:bold;text-transform:uppercase;font-size:12pt;">GUADALUPE DE LOS REYES PROJECT</font>
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		<p style="margin:0pt;line-height:100%;text-align:center;font-family:Calibri;font-size: 11pt">
			<font style="display: inline;font-family:Times New Roman;font-weight:bold;">&nbsp;</font>
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		<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 11pt">
			<font style="display: inline;font-family:Times New Roman;font-weight:bold;">Denver, Colorado, </font><font style="display: inline;font-family:Times New Roman;font-weight:bold;">April 1</font><font style="display: inline;font-family:Times New Roman;font-weight:bold;">5</font><font style="display: inline;font-family:Times New Roman;font-weight:bold;">, 201</font><font style="display: inline;font-family:Times New Roman;font-weight:bold;">4</font><font style="display: inline;font-family:Times New Roman;"> &#x2013; Vista Gold Corp. (TSX &amp; NYSE MKT: VGZ) (</font><font style="display: inline;font-family:Times New Roman;">&#x201C;</font><font style="display: inline;font-family:Times New Roman;">Vista</font><font style="display: inline;font-family:Times New Roman;">&#x201D;</font><font style="display: inline;font-family:Times New Roman;"> or the </font><font style="display: inline;font-family:Times New Roman;">&#x201C;</font><font style="display: inline;font-family:Times New Roman;">Company</font><font style="display: inline;font-family:Times New Roman;">&#x201D;</font><font style="display: inline;font-family:Times New Roman;">) today announced that it</font><font style="display: inline;font-family:Times New Roman;">s subsidiary, </font><font style="display: inline;font-family:Times New Roman;">Minera Gold Stake, S.A. de C.V. (</font><font style="display: inline;font-family:Times New Roman;">&#x201C;</font><font style="display: inline;font-family:Times New Roman;">MGS</font><font style="display: inline;font-family:Times New Roman;">&#x201D;</font><font style="display: inline;font-family:Times New Roman;">)</font><font style="display: inline;font-family:Times New Roman;">,</font><font style="display: inline;font-family:Times New Roman;">&nbsp;</font><font style="display: inline;font-family:Times New Roman;">has </font><font style="display: inline;font-family:Times New Roman;">entered into an</font><font style="display: inline;font-family:Times New Roman;">&nbsp;</font><font style="display: inline;font-family:Times New Roman;">agreement </font><font style="display: inline;font-family:Times New Roman;">(the &#x201C;</font><font style="display: inline;font-family:Times New Roman;">Option </font><font style="display: inline;font-family:Times New Roman;">Agreement&#x201D;) </font><font style="display: inline;font-family:Times New Roman;">to </font><font style="display: inline;font-family:Times New Roman;">option </font><font style="display: inline;font-family:Times New Roman;">its</font><font style="display: inline;font-family:Times New Roman;">&nbsp;</font><font style="display: inline;font-family:Times New Roman;">interest in the Guadalupe de los Reyes gold </font><font style="display: inline;font-family:Times New Roman;">and silver </font><font style="display: inline;font-family:Times New Roman;">project i</font><font style="display: inline;font-family:Times New Roman;">n</font><font style="display: inline;font-family:Times New Roman;"> Sinaloa, Mexico</font><font style="display: inline;font-family:Times New Roman;"> (the &#x201C;GdlR Project&#x201D;)</font><font style="display: inline;font-family:Times New Roman;"> to </font><font style="display: inline;font-family:Times New Roman;">Can</font><font style="display: inline;font-family:Times New Roman;">g</font><font style="display: inline;font-family:Times New Roman;">old Limited (&#x201C;Can</font><font style="display: inline;font-family:Times New Roman;">g</font><font style="display: inline;font-family:Times New Roman;">old&#x201D;)</font><font style="display: inline;font-family:Times New Roman;">.</font>
		</p>
		<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 11pt">
			<font style="display: inline;font-family:Times New Roman;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 11pt">
			<font style="display: inline;font-family:Times New Roman;">P</font><font style="display: inline;font-family:Times New Roman;">ursuant to the </font><font style="display: inline;font-family:Times New Roman;">terms of the </font><font style="display: inline;font-family:Times New Roman;">Option </font><font style="display: inline;font-family:Times New Roman;">Agreement, </font><font style="display: inline;font-family:Times New Roman;">Vista has granted </font><font style="display: inline;font-family:Times New Roman;">Can</font><font style="display: inline;font-family:Times New Roman;">g</font><font style="display: inline;font-family:Times New Roman;">old </font><font style="display: inline;font-family:Times New Roman;">the right to </font><font style="display: inline;font-family:Times New Roman;">earn a 70% interest in the Gd</font><font style="display: inline;font-family:Times New Roman;">l</font><font style="display: inline;font-family:Times New Roman;">R &nbsp;</font><font style="display: inline;font-family:Times New Roman;">P</font><font style="display: inline;font-family:Times New Roman;">roject by:</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;line-height:100%;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9;font-size:11pt;;"> &#xB7;</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display: inline;font-family:Times New Roman;">making payments totaling US$5,000,000</font><font style="display: inline;font-family:Times New Roman;"> in five</font><font style="display: inline;font-family:Times New Roman;">&nbsp;</font><font style="display: inline;font-family:Times New Roman;">payments </font><font style="display: inline;font-family:Times New Roman;">over a three-year period</font><font style="display: inline;font-family:Times New Roman;">, with payments totaling US$1,000,000 in the first year</font><font style="display: inline;font-family:Times New Roman;"> (US</font><font style="display: inline;font-family:Times New Roman;">$150,000 of which was paid at </font><font style="display: inline;font-family:Times New Roman;">signing</font><font style="display: inline;font-family:Times New Roman;">)</font><font style="display: inline;font-family:Times New Roman;">,</font><font style="display: inline;font-family:Times New Roman;"> US$1,500,000 in the second year and US$2,500,000 in the third year</font><font style="display: inline;font-family:Times New Roman;">;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;line-height:100%;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;font-size:11pt;;"> &#xB7;</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display: inline;font-family:Times New Roman;">operating the GdlR project</font><font style="display: inline;font-family:Times New Roman;">,</font><font style="display: inline;font-family:Times New Roman;">&nbsp;</font><font style="display: inline;font-family:Times New Roman;">maintaining the concessions comprising the Gd</font><font style="display: inline;font-family:Times New Roman;">l</font><font style="display: inline;font-family:Times New Roman;">R &nbsp;</font><font style="display: inline;font-family:Times New Roman;">P</font><font style="display: inline;font-family:Times New Roman;">roject in good standing; and</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;line-height:100%;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;font-size:11pt;;"> &#xB7;</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display: inline;font-family:Times New Roman;">fulfilling all of the obligations of </font><font style="display: inline;font-family:Times New Roman;">MGS, </font><font style="display: inline;font-family:Times New Roman;">Vista's wholly-owned subsidiary, to the Ejido La Tasajera (the </font><font style="display: inline;font-family:Times New Roman;">&#x201C;</font><font style="display: inline;font-family:Times New Roman;">Ejido</font><font style="display: inline;font-family:Times New Roman;">&#x201D;</font><font style="display: inline;font-family:Times New Roman;">) as </font><font style="display: inline;font-family:Times New Roman;">set out</font><font style="display: inline;font-family:Times New Roman;">&nbsp;</font><font style="display: inline;font-family:Times New Roman;">in the temporary occupation contract between MGS and the Ejido.</font></p></td></tr></table></div>
		<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 11pt">
			<font style="display: inline;font-family:Times New Roman;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 10pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 11pt">
			<font style="display: inline;font-family:Times New Roman;">The Option Agreement provide</font><font style="display: inline;font-family:Times New Roman;">s</font><font style="display: inline;font-family:Times New Roman;"> that a</font><font style="display: inline;font-family:Times New Roman;">ll cash payments are </font><font style="display: inline;font-family:Times New Roman;">non-refundable and </font><font style="display: inline;font-family:Times New Roman;">optional to </font><font style="display: inline;font-family:Times New Roman;">Can</font><font style="display: inline;font-family:Times New Roman;">g</font><font style="display: inline;font-family:Times New Roman;">old</font><font style="display: inline;font-family:Times New Roman;">, and in the event </font><font style="display: inline;font-family:Times New Roman;">Can</font><font style="display: inline;font-family:Times New Roman;">g</font><font style="display: inline;font-family:Times New Roman;">old</font><font style="display: inline;font-family:Times New Roman;"> fails to pay </font><font style="display: inline;font-family:Times New Roman;">any of </font><font style="display: inline;font-family:Times New Roman;">the required amounts on the scheduled dates or fails to comply with its other obligations, the Option Agreement </font><font style="display: inline;font-family:Times New Roman;">will </font><font style="display: inline;font-family:Times New Roman;">terminate </font><font style="display: inline;font-family:Times New Roman;">and Can</font><font style="display: inline;font-family:Times New Roman;">g</font><font style="display: inline;font-family:Times New Roman;">old will have no interest in the</font><font style="display: inline;font-family:Times New Roman;"> GdlR</font><font style="display: inline;font-family:Times New Roman;">&nbsp;</font><font style="display: inline;font-family:Times New Roman;">P</font><font style="display: inline;font-family:Times New Roman;">roject.</font><font style="display: inline;font-family:Times New Roman;"> Provided it is not in breach of the Option Agreement, Cangold may at its discretion advance the above payment schedule and exercise the initial option for </font><font style="display: inline;font-family:Times New Roman;">a 70% interest in the GdlR Project any time during the three-year period.</font>
		</p>
		<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 11pt">
			<font style="display: inline;font-family:Times New Roman;">Subject to </font><font style="display: inline;font-family:Times New Roman;">Can</font><font style="display: inline;font-family:Times New Roman;">g</font><font style="display: inline;font-family:Times New Roman;">old </font><font style="display: inline;font-family:Times New Roman;">earning a 70% interest in the </font><font style="display: inline;font-family:Times New Roman;">GdlR P</font><font style="display: inline;font-family:Times New Roman;">roject, </font><font style="display: inline;font-family:Times New Roman;">Vista has granted </font><font style="display: inline;font-family:Times New Roman;">Can</font><font style="display: inline;font-family:Times New Roman;">g</font><font style="display: inline;font-family:Times New Roman;">old</font><font style="display: inline;font-family:Times New Roman;">&nbsp;</font><font style="display: inline;font-family:Times New Roman;">an additional option to earn the remaining 30% interest in the </font><font style="display: inline;font-family:Times New Roman;">GdlR P</font><font style="display: inline;font-family:Times New Roman;">roject</font><font style="display: inline;font-family:Times New Roman;">&nbsp;</font><font style="display: inline;font-family:Times New Roman;">by notifying</font><font style="display: inline;font-family:Times New Roman;">&nbsp;</font><font style="display: inline;font-family:Times New Roman;">Vista </font><font style="display: inline;font-family:Times New Roman;">of a production decision</font><font style="display: inline;font-family:Times New Roman;"> and</font><font style="display: inline;font-family:Times New Roman;"> by</font><font style="display: inline;font-family:Times New Roman;"> making a cash payment </font><font style="display: inline;font-family:Times New Roman;">to Vista </font><font style="display: inline;font-family:Times New Roman;">of US$3,000,000 plus an additional cash payment </font><font style="display: inline;font-family:Times New Roman;">based on a formula that includes the growth, if any, in </font><font style="display: inline;font-family:Times New Roman;">estimated </font><font style="display: inline;font-family:Times New Roman;">NI 43-101</font><font style="display: inline;font-family:Times New Roman;">&nbsp;</font><font style="display: inline;font-family:Times New Roman;">Measured and Indicated </font><font style="display: inline;font-family:Times New Roman;">mineral </font><font style="display: inline;font-family:Times New Roman;">resources of the </font><font style="display: inline;font-family:Times New Roman;">GdlR P</font><font style="display: inline;font-family:Times New Roman;">roject</font><font style="display: inline;font-family:Times New Roman;">,</font><font style="display: inline;font-family:Times New Roman;"> and the then prevailing spot gold price</font><font style="display: inline;font-family:Times New Roman;"> (&#x201C;Escalator Payment&#x201D;)</font><font style="display: inline;font-family:Times New Roman;">.</font>
		</p>
		<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 11pt">
			<font style="display: inline;font-family:Times New Roman;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 11pt">
			<font style="display: inline;font-family:Times New Roman;">Should Cangold determine not to put the GdlR Project</font><font style="display: inline;font-family:Times New Roman;"> into production, the Option Agreement provide</font><font style="display: inline;font-family:Times New Roman;">s</font><font style="display: inline;font-family:Times New Roman;"> Vista</font><font style="display: inline;font-family:Times New Roman;"> with</font><font style="display: inline;font-family:Times New Roman;"> the right to buy back Cangold&#x2019;s 70% interest in the GdlR Project for a cash payment of US$5,000,000 plus the Escalator Payment described above.&nbsp;&nbsp;If Vista does not exercise its buyback option, Vista will still retain a right of first refusal should Cangold elect to sell its 70% interest in the GdlR Project to a third party.</font><font style="display: inline;font-family:Times New Roman;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 11pt">
			<font style="display: inline;font-family:Times New Roman;">&nbsp;</font>
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		<p style="margin:0pt 0pt 10pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 11pt">
			<font style="display: inline;font-family:Times New Roman;">Can</font><font style="display: inline;font-family:Times New Roman;">g</font><font style="display: inline;font-family:Times New Roman;">old</font><font style="display: inline;font-family:Times New Roman;">&nbsp;</font><font style="display: inline;font-family:Times New Roman;">is a junior exploration company engaged in the exploration and development of gold projects in Mexico and Canada. </font><font style="display: inline;font-family:Times New Roman;">Can</font><font style="display: inline;font-family:Times New Roman;">g</font><font style="display: inline;font-family:Times New Roman;">old trades on the </font><font style="display: inline;font-family:Times New Roman;">TSX</font><font style="display: inline;font-family:Times New Roman;">&nbsp;</font><font style="display: inline;font-family:Times New Roman;">V</font><font style="display: inline;font-family:Times New Roman;">enture Exchange </font><font style="display: inline;font-family:Times New Roman;">under the symbol CLD.</font><font style="display: inline;font-family:Times New Roman;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Calibri;font-size: 11pt">

		</p>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;line-height:100%;font-family:Calibri;font-size: 11pt">

			&nbsp;

		</p>

</div><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p><div style="width:100%">

		<p style="margin:0pt;line-height:100%;font-family:Calibri;font-size: 11pt">

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</div>
		<p style="margin:0pt;line-height:100%;font-family:Calibri;;font-size: 11pt"><font style="display: inline;font-family:Times New Roman;font-weight:bold;"></font>
		</p>
		<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 11pt">
			<font style="display: inline;font-family:Times New Roman;font-weight:bold;">About Vista Gold Corp.</font>
		</p>
		<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 11pt">
			<font style="display: inline;font-family:Times New Roman;font-weight:bold;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 11pt">
			<font style="display: inline;font-family:Times New Roman;">Vista&#x2019;s principal</font><font style="display: inline;font-family:Times New Roman;"> assets include its flagship Mt</font><font style="display: inline;font-family:Times New Roman;"> Todd gold project in Northern Territory, Australia, and a</font><font style="display: inline;font-family:Times New Roman;">n</font><font style="display: inline;font-family:Times New Roman;"> &nbsp;1</font><font style="display: inline;font-family:Times New Roman;">1</font><font style="display: inline;font-family:Times New Roman;">.</font><font style="display: inline;font-family:Times New Roman;">2</font><font style="display: inline;font-family:Times New Roman;">% holding in Midas</font><font style="display: inline;font-family:Times New Roman;"> Gold Corp.</font><font style="display: inline;font-family:Times New Roman;"> In addition to non-core projects in Mexico and California, Vista holds royalty interests in projects in Bolivia and Indonesia.&nbsp; </font><font style="display: inline;font-family:Times New Roman;">For more information about our projects, including technical studies and resource estimates, please visit our website at</font><font style="display: inline;font-family:Times New Roman;">&nbsp;</font><font style="display: inline;font-family:Times New Roman;">www.vistagold.com</font><font style="display: inline;font-family:Times New Roman;">.</font>
		</p>
		<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 11pt">
			<font style="display: inline;font-family:Times New Roman;font-weight:bold;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 11pt">
			<font style="display: inline;font-family:Times New Roman;font-weight:bold;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 11pt">
			<font style="display: inline;font-family:Times New Roman;font-weight:bold;">Forward Looking Statements</font><font style="display: inline;font-family:Times New Roman;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 9pt">
			<font style="display: inline;font-family:Times New Roman;font-size:9pt;">This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning of Canadian securities laws. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Vista expects or anticipates will or may occur in the future, including such things as </font><font style="display: inline;font-family:Times New Roman;font-size:9pt;">Cangold complying with its obligations under the </font><font style="display: inline;font-family:Times New Roman;font-size:9pt;">O</font><font style="display: inline;font-family:Times New Roman;font-size:9pt;">ption Agreement (including making contemplated payments</font><font style="display: inline;font-family:Times New Roman;font-size:9pt;">,</font><font style="display: inline;font-family:Times New Roman;font-size:9pt;"> maintaining the concessions</font><font style="display: inline;font-family:Times New Roman;font-size:9pt;"> and complying with MGS&#x2019; obligations </font><font style="display: inline;font-family:Times New Roman;font-size:9pt;">to</font><font style="display: inline;font-family:Times New Roman;font-size:9pt;"> the Ejido</font><font style="display: inline;font-family:Times New Roman;font-size:9pt;">)</font><font style="display: inline;font-family:Times New Roman;font-size:9pt;">, Cangold&#x2019;s potential decision to put the GdlR project into production,</font><font style="display: inline;font-family:Times New Roman;font-size:9pt;"> Vista&#x2019;s ongoing interest in the GdlR Project</font><font style="display: inline;font-family:Times New Roman;font-size:9pt;">&nbsp;</font><font style="display: inline;font-family:Times New Roman;font-size:9pt;">and other such matters are forward-looking statements and forward-looking information. The material factors and assumptions used to develop the forward-looking statements and forward-looking information contained in this press release include the following: </font><font style="display: inline;font-family:Times New Roman;font-size:9pt;">ability of Cangold to make payments contemplated in the Option Agreement, </font><font style="display: inline;font-family:Times New Roman;font-size:9pt;">approved business plans, anticipated and estimated costs and budget expenditures to continue to optimize and advance the Company&#x2019;s core assets, the perceived extent and duration of the current weakness of gold equity securities and other such matters.&nbsp; When used in this press release, the words &#x201C;optimistic,&#x201D; &#x201C;potential,&#x201D; &#x201C;indicate,&#x201D; &#x201C;expect,&#x201D; &#x201C;intend,&#x201D; &#x201C;hopes,&#x201D; &#x201C;believe,&#x201D; &#x201C;may,&#x201D; &#x201C;will,&#x201D; &#x201C;if,&#x201D; &#x201C;anticipate,&#x201D; &#x201C;would,&#x201D; &#x201C;could,&#x201D; and similar expressions are intended to identify forward-looking statements and forward-looking information.&nbsp; These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Vista to be materially different from any future results, performance or achievements expressed or implied by such statements.&nbsp; Such factors include, among others, </font><font style="display: inline;font-family:Times New Roman;font-size:9pt;">risks relating to Cangold&#x2019;s ability to obtain financing (if at all), </font><font style="display: inline;font-family:Times New Roman;font-size:9pt;">risks related to Cangold&#x2019;s determination to put the GdlR Project into production, </font><font style="display: inline;font-family:Times New Roman;font-size:9pt;">uncertainty of resource estimates, estimates of results based on such resource estimates; risks relating to completing metallurgical testing; risks relating to cost increases for capital and operating costs;&nbsp; risks related to the timing and the ability to obtain approval of the environmental impact statement and t</font><font style="display: inline;font-family:Times New Roman;font-size:9pt;">he necessary permits for the Mt</font><font style="display: inline;font-family:Times New Roman;font-size:9pt;"> Todd gold project, risks of shortages and fluctuating costs of equipment or supplies; risks relating to fluctuations in the price of gold; the inherently hazardous nature of mining-related activities; potential effects on Vista&#x2019;s operations of environmental regulations in the countries in which it operates; risks due to legal proceedings; risks relating to political and economic instability in certain countries in which it operates; as well as those factors discussed under the headings &#x201C;Note Regarding Forward-Looking Statements&#x201D; and &#x201C;Risk Factors&#x201D; in Vista&#x2019;s Annual Report Form 10-K as filed on March 1</font><font style="display: inline;font-family:Times New Roman;font-size:9pt;">7</font><font style="display: inline;font-family:Times New Roman;font-size:9pt;">, 201</font><font style="display: inline;font-family:Times New Roman;font-size:9pt;">4</font><font style="display: inline;font-family:Times New Roman;font-size:9pt;"> and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities.&nbsp; Although Vista has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements and forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.&nbsp; Except as required by law, Vista assumes no obligation to publicly update any forward-looking statements or forward-looking information; whether as a result of new information, future events or otherwise.</font>
		</p>
		<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 11pt">
			<font style="display: inline;font-family:Times New Roman;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 11pt">
			<font style="display: inline;font-family:Times New Roman;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 11pt">
			<font style="display: inline;font-family:Times New Roman;">For further information, please contact Connie Martinez at (720) 981-1185, or visit the Company</font><font style="display: inline;font-family:Times New Roman;">&#x2019;</font><font style="display: inline;font-family:Times New Roman;">s website at </font><font style="display: inline;font-family:Times New Roman;">www.vistagold.com</font><font style="display: inline;font-family:Times New Roman;">.</font><font style="display: inline;font-family:Times New Roman;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 11pt">
			<font style="display: inline;font-family:Times New Roman;">&nbsp;</font>
		</p>
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			<font style="display: inline;font-family:Times New Roman;">&nbsp;</font>
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		<p style="margin:0pt;text-align:center;line-height:100%;font-family:Calibri;font-size: 11pt">

			<font style="display: inline;font-family:Times New Roman;">- &nbsp;</font><font style="display: inline;font-family:Times New Roman;">1</font><font style="display: inline;font-family:Times New Roman;"> &nbsp;-</font>

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