YELLOWCAKE MINING INC.
January 29, 2007
Strathmore Minerals Corp.
810 – 1708 Dolphin Avenue
Kelowna, BC V1Y 9S4
Attention:
Dev Randhawa,
Chairman and CEO
Dear Sirs:
RE: Binding Letter of Intent – Juniper Ridge Project Wyoming
This Letter of Intent (the “LOI”) sets out the basic terms upon which Yellowcake Minerals Inc. (“Yellowcake”) would be prepared to enter into a joint venture with Strathmore Minerals Corp. (“Strathmore”) to explore, develop and mine property located in Carbon County, Wyoming and more particularly described in Schedule “A” hereto (the “Property”). While this LOI recites the principal elements of the agreement reached between us, the terms are not comprehensive and additional terms will be incorporated into a formal agreement to be negotiated.
1.
OPTION
1.1
Strathmore will grant Yellowcake sole and exclusive rights to earn-in an 80% interest in the Property in consideration of the following:
(a)
Yellowcake will pay Strathmore a total of $500,000 in accordance with the following schedule
(i)
$100,000 on Closing (as hereinafter defined),
(ii)
$100,000 on each of the first, second, third and fourth anniversary dates of Closing;
(b)
Yellowcake will issue to Strathmore 9,000,000 common shares in the capital stock of Yellowcake on Closing (which represents 25% of the pre-funding share structure of Yellowcake), and will require William Tafuri to cancel 56,000,000 restricted affiliate shares in the capital stock of Yellowcake; and
(c)
Yellowcake will incur a total of $8,000,000 in expenditures on the Property (“Expenditures”) in accordance with the following schedule:
(i)
$1.6 million on or before the first anniversary of Closing,
(ii)
an additional $1.6 million on or before the second anniversary of Closing,
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(iii)
an additional $1.6 million on or before the third anniversary of Closing,
(iv)
an additional $1.6 million on or before the fourth anniversary of Closing, and
(iv)
an additional $1.6 million on or before the fifth anniversary of Closing.
1.2
Provided that Yellowcake is not in default of any terms of this LOI, Yellowcake will have earned a 40% undivided interest in the Property once Yellowcake has spent $4,000,000 of Expenditures referred to in paragraph 1.1(c).
1.3
The option will terminate and Yellowcake will have no further interest in the Property
under the following conditions:
(a)
at 5:00 p.m. (Pacific Time) on the fifth day after the Closing if Strathmore has not received the amount of $100,000 by wire transfer, certified cheque or bank draft, and a share certificate representing 9,000,000 common shares of Yellowcake;
(b)
at 5:00 p.m. (Pacific Time) on the fifth day after the first, second, third, fourth or
fifth anniversary dates of Closing if
(i)
Strathmore has not received the additional payments due pursuant to paragraph 1.1(a), or
(ii)
Yellowcake has not incurred the Expenditures in accordance with 1.1(c), and the failure to incur the Expenditures was not due to events or circumstances beyond Yellowcake’s control; or
(c)
if terminated by Yellowcake in accordance with this LOI.
2.
ROYALTY
2.1
In further consideration for Strathmore’s agreement to grant Yellowcake an option to acquire an 80% undivided interest in the Property, Yellowcake agrees to pay Strathmore the Royalty on Yellowcake’s share of any uranium extracted from the Property.
3.
EXPENDITURES
3.1
Expenditures will be made in accordance with exploration and development programs
which have been approved by Yellowcake from time to time.
3.2
The Operator will submit exploration or development programs for the coming quarter to Yellowcake for approval. The program will also be accompanied by a budget outlining the amount of expenditures for such program. Within 30 days of receiving the program and budget, Yellowcake will inform Strathmore whether Yellowcake is prepared to approve the program and budget.
- 3 -
3.3
Once programs and budgets for Expenditures are approved, Yellowcake will have 30 days to deposit the amount of the program budget into a bank account maintained by Strathmore solely for receipt and payment of the Expenditures.
4.
EXERCISE OF OPTION AND CREATION OF JOINT VENTURE
4.1
Once Yellowcake has earned in the right to acquire the initial 40% interest in the Property, Strathmore will forthwith take all steps to transfer an undivided 40% interest in the Property to Yellowcake.
4.2
Once Yellowcake has earned in the right to acquire the second 40% interest in the Property, Strathmore will forthwith take all steps to transfer a further undivided 40% interest in the Property to Yellowcake.
4.3
As soon as Yellowcake has earned in the right to the initial 40% interest in the Property, a joint venture between the parties will be deemed to have been entered into and Yellowcake will be entitled to its share of uranium or any other mineral extracted from the Property in accordance with Yellowcake’s earned interest at the time.
4.4
Yellowcake has the right to approve any mining or other activities which will result in the extraction of uranium or other minerals from the Property. Such decisions will be made jointly by the parties and in the event there is a disagreement, the parties may vote on such matters in accordance with their respective interests in the Property.
5.
OPERATOR
5.1
Until Yellowcake has earned in its 80% interest in the Property, Strathmore will be the Operator. Thereafter, Yellowcake will be the Operator.
5.2
While Strathmore is Operator, it will do all things necessary to:
(a)
develop programs and budgets for the Expenditures for the approval of Yellowcake,
(b)
obtain all work permits, environmental approvals, insurances required to carry out exploration and development programs,
(c)
maintain the Property’s mineral leases and rights in good standing,
(d)
manage and execute all approved programs, including paying third party consultants and contractors,
(e)
receive and spend funds from Yellowcake for the Expenditures, or from any other Joint Venture party, on behalf of the Property,
(f)
report all progress, findings, reports, technical data and any other matter related to the Property, to Yellowcake, and
- 4 -
(g)
act in accordance with good mining practises, in compliance with all applicable laws and in accordance with the care and skill normally expected by someone conducting and managing exploration, development and mining activities on behalf of legal or beneficial owners of the Property.
5.3
Yellowcake agrees that Strathmore may charge Yellowcake an operator’s fee calculated by multiplying the Expenditures made in accordance with approved programs and budgets, by 10%. The operator’s fee charged to and paid by Yellowcake will be considered to be Expenditures required to be made by Yellowcake to earn in its interest in the Property in accordance with this LOI.
6.
CONDITIONS PRECEDENT
6.1
This LOI is subject to and conditional upon:
(a)
Yellowcake raising a minimum of $4 million dollars through the issue of 4 million units;
(b)
Yellowcake is satisfied that the Property is
(i)
in good standing,
(ii)
100% owned, free and clear by Strathmore, and
(iii)
capable of being transferred by Strathmore to Yellowcake in accordance with this LOI; and
(c)
the execution of a detailed joint venture agreement by the parties.
6.2
Yellowcake will use its best efforts to satisfy the Conditions Precedent within 90 days from the date this LOI is signed (the “End Date”). In the event the Conditions Precedent are not satisfied by the End Date, and the Parties have not agreed to an extension of the End Date, then this LOI will terminate immediately without further notice.
7.
ACCESS TO CONOCO FILES
7.1
In consideration of Yellowcake:
(a)
paying Strathmore $25,000 on Closing,
(b)
spending $440,000 for a minimum of 1 year to finance the cost to have Strathmore’s Texas Database (“Conoco files”) evaluated by qualified mining and geological consultants, and
(c)
incurring the first $500,000 in costs to acquire mining leases to any properties identified in the evaluation referred to in 7.1 (b),
then Yellowcake and Strathmore will hold any mining leases acquired under 7.1 (c) in accordance with equal (50-50) undivided interests, and thereafter become joint venture
- 5 -
partners for the exploration, development and mining of such mining leases. Once Yellowcake has incurred the first $500,000 in accordance with 7.1 (c), Yellowcake and Strathmore agree to share 50-50 all further costs to acquire mining leases to properties identified in the evaluation referred to in 7.1 (b).
7.2
The parties agree that Strathmore will manage the hiring of the consultants or staff required to evaluate the Conoco files provided that:
(a)
Yellowcake may approve expenditures made by Strathmore for such purpose,
(b)
Strathmore may not charge an overhead or other administrative fee, and
(c)
Strathmore provides Yellowcake access to all of the results of the evaluation, in accordance with disclosure and confidentiality terms which are customary in joint venture agreements.
7.3
Both Strathmore and Yellowcake covenant not to disclose the information gathered/evaluated to any third party.
7.4
In the event the evaluation identifies a potential target property, Yellowcake has the right not to proceed with obtaining a mineral lease in the event Yellowcake determines that the cost to acquire such mineral lease would make the target property uneconomic given the shared (50-50) interest in the mineral lease.
7.5
In the event one party decides not to proceed to obtain a mineral lease for any reason, the parties agree that the other party (“Acquiring Party”) may not acquire such mineral lease with a third party partner, without the Acquiring Party first offering the other party the right to acquire the mineral lease on the same terms and conditions offered to the third party partner.
8.
PUBLIC ANNOUNCEMENTS
8.1
The parties agree that neither party will make any press or public releases of information regarding the Property, this LOI or the subject matter of this LOI, without first obtaining the approval of the other party.
9.
FORMAL AGREEMENT
9.1
The parties agree that they will negotiate in good faith and use best efforts to execute a detailed joint venture agreement on terms normally included in joint venture agreements.
9.2
This LOI is intended to be legally binding on the parties until it is replaced by the detailed joint venture agreement or is terminated in accordance with this LOI.
10.
GOVERNING LAW
10.1
This LOI will be governed by and construed in accordance with the laws of British Columbia.
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11.
ASSIGNMENT
11.1
The parties acknowledge that in entering into this LOI, Yellowcake is relying on Strathmore’s knowledge of the Property and experience in exploration, development and mining of uranium. Accordingly, Strathmore agrees that it may not assign or sell to any third party, all or part of Strathmore’s interest or obligations under this LOI without the consent of Yellowcake, which consent will not be unreasonably withheld.
12.
DEFINITIONS
12.1
“Closing” means the date Yellowcake informs Strathmore that the Conditions Precedent have either been satisfied or waived, but in any event will not be later than the End Date.
12.2
“Expenditures” means a total of $8,000,000 in expenditures made by Yellowcake for exploration and development of the Property, in accordance with this LOI. Expenditures will include any fees charged by Strathmore while it is the Operator.
12.3
“$” or “Dollars” refers to US Funds.
12.4
“Joint Venture Parties” means Yellowcake and Strathmore once Yellowcake has earned in its initial 40% undivided interest in the Property.
12.5
“Royalty” means a 3% Yellowcake royalty on terms which are in accordance with
generally accepted royalty terms applicable to uranium projects in the United States.
If Strathmore agrees to the above terms and conditions please sign where indicated below and return a copy of this LOI to Yellowcake’s office.
Yours sincerely,
YELLOWCAKE MINERALS INC.
Per:
Name:
Title:
STRATHMORE MINERALS CORP.
Per:
Name:
Title:
SCHEDULE “A”
THE PROPERTY
STRATHMORE RESOURCES (US) LTD
JUNIPER RIDGE PROJECT
CARBON COUNTY, WYOMING
UNPATENTED MINING CLAIMS
BLM Serial# | Claim Name | Location Last Book | Notice/ Amendment Page | Subd. | Section | Township | Range | PM | Property Name | Last Assessment |
WMC259971 | RC-1 | 1056 | 80 | SW SE | 1 | 12N | 93W | 6th | Red Creek | 2007 |
WMC259972 | RC-2 | 1056 | 81 | SE | 1 | 12N | 93W | 6th | Red Creek | 2007 |
WMC259973 | RC-3 | 1056 | 82 | NE NW SW SE | 1 | 12N | 93W | 6th | Red Creek | 2007 |
WMC259974 | RC-4 | 1056 | 83 | NE SE | 1 | 12N | 93W | 6th | Red Creek | 2007 |
WMC259975 | RC-5 | 1056 | 84 | NE NW | 1 | 12N | 93W | 6th | Red Creek | 2007 |
WMC259976 | RC-6 | 1056 | 85 | NE | 1 | 12N | 93W | 6th | Red Creek | 2007 |
WMC259977 | RC-7 | 1056 | 86 | NE NW | 1 | 12N | 93W | 6th | Red Creek | 2007 |
WMC259978 | RC-8 | 1056 | 87 | NE | 1 | 12N | 93W | 6th | Red Creek | 2007 |
WMC259979 | RC-9 | 1056 | 88 | NE NW | 1 | 12N | 93W | 6th | Red Creek | 2007 |
W M C259980 | RC-10 | 1056 | 89 | NE | 1 | 12N | 93W | 6th | Red Creek | 2007 |
W M C259981 | RC-11 | 1056 | 90 | NE NW | 1 | 12N | 93W | 6th | Red Creek | 2007 |
W M C259982 | RC-12 | 1056 | 91 | NE | 1 | 12N | 93W | 6th | Red Creek | 2007 |
W M C259983 | RC-13 | 1056 | 92 | SW | 6 | 12N | 92W | 6th | Red Creek | 2007 |
W M C259984 | RC-14 | 1056 | 93 | SW SE | 6 | 12N | 92W | 6th | Red Creek | 2007 |
W M C259985 | RC-15 | 1056 | 94 | SW | 6 | 12N | 92W | 6th | Red Creek | 2007 |
W M C259986 | RC-16 | 1056 | 95 | SW SE | 6 | 12N | 92W | 6th | Red Creek | 2007 |
W M C259987 | RC-17 | 1056 | 96 | SW | 6 | 12N | 92W | 6th | Red Creek | 2007 |
W M C259988 | RC-18 | 1056 | 97 | SW SE | 6 | 12N | 92W | 6th | Red Creek | 2007 |
W M C259989 | RC-19 | 1056 | 98 | SW | 31 | 13N | 92W | 6th | Red Creek | 2007 |
W M C259990 | RC-20 | 1056 | 99 | SW SE | 31 | 13N | 92W | 6th | Red Creek | 2007 |
- 2 -
BLM Serial# | Claim Name | Location Last Book | Notice/ Amendment Page | Subd. | Section | Township | Range | PM | Property Name | Last Assessment |
W M C259991 | RC-21 | 1056 | 100 | SW | 31 | 13N | 92W | 6th | Red Creek | 2007 |
W M C259992 | RC-22 | 1056 | 101 | SW SE | 31 | 13N | 92W | 6th | Red Creek | 2007 |
W M C259993 | RC-23 | 1056 | 102 | SW | 31 | 13N | 92W | 6th | Red Creek | 2007 |
W M C259994 | RC-24 | 1056 | 103 | SW SE | 31 | 13N | 92W | 6th | Red Creek | 2007 |
W M C259995 | RC-25 | 1056 | 104 | SW | 31 | 13N | 92W | 6th | Red Creek | 2007 |
W M C259996 | RC-26 | 1056 | 105 | SW SE | 31 | 13N | 92W | 6th | Red Creek | 2007 |
W M C259997 | RC-27 | 1056 | 106 | NW SW | 31 | 13N | 92W | 6th | Red Creek | 2007 |
W M C259998 | RC-28 | 1056 | 107 | NE NW SW SE | 31 | 13N | 92W | 6th | Red Creek | 2007 |
W M C259999 | RC-29 | 1056 | 108 | NW | 31 | 13N | 92W | 6th | Red Creek | 2007 |
W M C260000 | RC-30 | 1056 | 109 | NE NW | 31 | 13N | 92W | 6th | Red Creek | 2007 |
W M C260001 | RC-31 | 1056 | 110 | NW | 31 | 13N | 92W | 6th | Red Creek | 2007 |
W M C260002 | RC-32 | 1056 | 111 | NE NW | 31 | 13N | 92W | 6th | Red Creek | 2007 |
W M C260003 | RC-33 | 1056 | 112 | SE | 6 | 12N | 92W | 6th | Red Creek | 2007 |
| | | 1113 | 91 | | | | | | | |
WMC260004 | RC-34 | 1056 | 113 | SW | 5 | 12N | 92W | 6th | Red Creek | 2007 |
| | | 1113 | 92 | SE | 6 | 12N | 92W | 6th | | |
WMC260005 | RC-35 | 1056 | 114 | SE | 6 | 12N | 92W | 6th | Red Creek | 2007 |
| | | 1113 | 93 | | | | | | | |
WMC260006 | RC-36 | 1056 | 115 | SW | 5 | 12N | 92W | 6th | Red Creek | 2007 |
| | | 1113 | 94 | SE | 6 | 12N | 92W | 6th | | |
WMC260007 | RC-37 | 1056 | 116 | SE | 6 | 12N | 92W | 6th | Red Creek | 2007 |
| | | 1113 | 95 | | | | | | | |
WMC260008 | RC-38 | 1056 | 117 | SW | 5 | 12N | 92W | 6th | Red Creek | 2007 |
| | | 1113 | 96 | SE | 6 | 12N | 92W | 6th | | |
WMC260009 | RC-39 | 1056 | 118 | SE | 31 | 13N | 92W | 6th | Red Creek | 2007 |
WMC260010 | RC-40 | 1056 | 119 | SE | 31 | 13N | 92W | 6th | Red Creek | 2007 |
| | | | | SW | 32 | 13N | 92W | 6th | | |
WMC260157 | RC-41 | 1057 | 97 | SE | 31 | 13N | 92W | 6th | Red Creek | 2007 |
WMC260158 | RC-42 | 1057 | 98 | SE | 31 | 13N | 92W | 6th | Red Creek | 2007 |
| | | | | SW | 32 | 13N | 92W | 6th | | |
- 3 -
BLM Serial# | Claim Name | Location Last Book | Notice/ Amendment Page | Subd. | Section | Township | Range | PM | Property Name | Last Assessment |
WMC260159 | RC-43 | 1057 | 99 | SE | 31 | 13N | 92W | 6th | Red Creek | 2007 |
WMC260160 | RC-44 | 1057 | 100 | SE | 31 | 13N | 92W | 6th | Red Creek | 2007 |
| | | | | SW | 32 | 13N | 92W | 6th | | |
WMC260161 | RC-45 | 1057 | 101 | SE | 31 | 13N | 92W | 6th | Red Creek | 2007 |
WMC260162 | RC-46 | 1057 | 102 | SE | 31 | 13N | 92W | 6th | Red Creek | 2007 |
| | | | | SW | 32 | 13N | 92W | 6th | | |
WMC260163 | RC-47 | 1057 | 103 | NE SE | 31 | 13N | 92W | 6th | Red Creek | 2007 |
WMC260164 | RC-48 | 1057 | 104 | NE SE | 31 | 13N | 92W | 6th | Red Creek | 2007 |
| | | | | NW SW | 32 | 13N | 92W | 6th | | |
WMC260165 | RC-49 | 1057 | 105 | NE | 31 | 13N | 92W | 6th | Red Creek | 2007 |
WMC260166 | RC-50 | 1057 | 106 | NE | 31 | 13N | 92W | 6th | Red Creek | 2007 |
| | | | | NW | 32 | 13N | 92W | 6th | | |
WMC260167 | RC-51 | 1057 | 107 | NE | 31 | 13N | 92W | 6th | Red Creek | 2007 |
WMC260168 | RC-52 | 1057 | 108 | NE | 31 | 13N | 92W | 6th | Red Creek | 2007 |
WMC260169 | RC-53 | 1057 | 109 | SW | 5 | 12N | 92W | 6th | Red Creek | 2007 |
WMC260170 | RC-54 | 1057 | 110 | SE SW | 5 | 12N | 92W | 6th | Red Creek | 2007 |
WMC260171 | RC-55 | 1057 | 111 | SW | 5 | 12N | 92W | 6th | Red Creek | 2007 |
WMC260172 | RC-56 | 1057 | 112 | SW SE | 5 | 12N | 92W | 6th | Red Creek | 2007 |
WMC260173 | RC-57 | 1057 | 113 | SW | 5 | 12N | 92W | 6th | Red Creek | 2007 |
WMC260174 | RC-58 | 1057 | 114 | SW SE | 5 | 12N | 92W | 6th | Red Creek | 2007 |
WMC260175 | RC-59 | 1057 | 115 | SW | 32 | 13N | 92W | 6th | Red Creek | 2007 |
WMC260176 | RC-60 | 1057 | 116 | SW | 32 | 13N | 92W | 6th | Red Creek | 2007 |
WMC260177 | RC-61 | 1057 | 117 | SW | 32 | 13N | 92W | 6th | Red Creek | 2007 |
WMC260178 | RC-62 | 1057 | 118 | SW | 32 | 13N | 92W | 6th | Red Creek | 2007 |
WMC260179 | RC-63 | 1057 | 119 | NW SW | 32 | 13N | 92W | 6th | Red Creek | 2007 |
WMC260180 | RC-64 | 1057 | 120 | NW | 32 | 13N | 92W | 6th | Red Creek | 2007 |
WMC260181 | RC-65 | 1057 | 121 | NW | 32 | 13N | 92W | 6th | Red Creek | 2007 |
WMC260182 | RC-66 | 1057 | 122 | SW | 4 | 12N | 92W | 6th | Red Creek | 2007 |
| | | | | SE | 5 | 12N | 92W | 6th | | |
WMC260183 | RC-67 | 1057 | 123 | SW | 4 | 12N | 92W | 6th | Red Creek | 2007 |
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BLM Serial# | Claim Name | Location Last Book | Notice/ Amendment Page | Subd. | Section | Township | Range | PM | Property Name | Last Assessment |
WMC260184 | RC-68 | 1057 | 124 | SW | 4 | 12N | 92W | 6th | Red Creek | 2007 |
| | | | | SE | 5 | 12N | 92W | 6th | | |
WMC260185 | RC-69 | 1057 | 125 | SW | 4 | 12N | 92W | 6th | Red Creek | 2007 |
| | | | | SE | 5 | 12N | 92W | 6th | | |
WMC260186 | RC-70 | 1057 | 126 | SW | 4 | 12N | 92W | 6th | Red Creek | 2007 |
| | | | | SE | 5 | 12N | 92W | 6th | | |
WMC260187 | RC-71 | 1057 | 127 | SW | 4 | 12N | 92W | 6th | Red Creek | 2007 |
WMC260188 | RC-72 | 1057 | 128 | SE SW | 4 | 12N | 92W | 6th | Red Creek | 2007 |
WMC260189 | RC-73 | 1057 | 129 | SW SE | 4 | 12N | 92W | 6th | Red Creek | 2007 |
WMC260190 | RC-74 | 1057 | 130 | SW SE | 4 | 12N | 92W | 6th | Red Creek | 2007 |
WMC260533 | RC-75 | 1060 | 2 | NW SW | 6 | 12N | 92W | 6th | Red Creek | 2007 |
WMC260534 | RC-76 | 1060 | 3 | NE NW SW SE | 6 | 12N | 92W | 6th | Red Creek | 2007 |
WMC260535 | RC-77 | 1060 | 4 | NW | 6 | 12N | 92W | 6th | Red Creek | 2007 |
WMC260536 | RC-78 | 1060 | 5 | NE NW | 6 | 12N | 92W | 6th | Red Creek | 2007 |
WMC260537 | RC-79 | 1060 | 6 | NW | 6 | 12N | 92W | 6th | Red Creek | 2007 |
WMC260538 | RC-80 | 1060 | 7 | NE NW | 6 | 12N | 92W | 6th | Red Creek | 2007 |
WMC260539 | RC-81 | 1060 | 8 | NW | 6 | 12N | 92W | 6th | Red Creek | 2007 |
WMC260540 | RC-82 | 1060 | 9 | NE NW | 6 | 12N | 92W | 6th | Red Creek | 2007 |
WMC260541 | RC-83 | 1060 | 10 | NW | 6 | 12N | 92W | 6th | Red Creek | 2007 |
| | | | | SW | 31 | 13N | 92W | 6th | | |
WMC260542 | RC-84 | 1060 | 11 | NW NE | 6 | 12N | 92W | 6th | Red Creek | 2007 |
| | | | | SW SE | 31 | 13N | 92W | 6th | | |
WMC260543 | RC-85 | 1060 | 12 | NE SE | 6 | 12N | 92W | 6th | Red Creek | 2007 |
WMC260544 | RC-86 | 1060 | 13 | NW SW | 5 | 12N | 92W | 6th | Red Creek | 2007 |
| | | | | NE SE | 6 | 12N | 92W | 6th | | |
WMC260545 | RC-87 | 1060 | 14 | NE | 6 | 12N | 92W | 6th | Red Creek | 2007 |
WMC260546 | RC-88 | 1060 | 15 | NW | 5 | 12N | 92W | 6th | Red Creek | 2007 |
| | | | | NE | 6 | 12N | 92W | 6th | | |
WMC260547 | RC-89 | 1060 | 16 | NE | 6 | 12N | 92W | 6th | Red Creek | 2007 |
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BLM Serial# | Claim Name | Location Last Book | Notice/ Amendment Page | Subd. | Section | Township | Range | PM | Property Name | Last Assessment |
WMC260548 | RC-90 | 1060 | 17 | NW | 5 | 12N | 92W | 6th | Red Creek | 2007 |
| | | | | NE | 6 | 12N | 92W | 6th | | |
WMC260549 | RC-91 | 1060 | 18 | NE | 6 | 12N | 92W | 6th | Red Creek | 2007 |
WMC260550 | RC-92 | 1060 | 19 | NW | 5 | 12N | 92W | 6th | Red Creek | 2007 |
| | | | | NE | 6 | 12N | 92W | 6th | | |
WMC260551 | RC-93 | 1060 | 20 | NE | 6 | 12N | 92W | 6th | Red Creek | 2007 |
| | | | | SE | 31 | 13N | 92W | 6th | | |
WMC260552 | RC-94 | 1060 | 21 | NW | 5 | 12N | 92W | 6th | Red Creek | 2007 |
| | | | | NE | 6 | 12N | 92W | 6th | | |
| | | | | SE | 31 | 13N | 92W | 6th | | |
| | | | | SW | 32 | 13N | 92W | 6th | | |
WMC260553 | RC-95 | 1060 | 22 | NW SW | 5 | 12N | 92W | 6th | Red Creek | 2007 |
WMC260554 | RC-96 | 1060 | 23 | NE NW SW SE | 5 | 12N | 92W | 6th | Red Creek | 2007 |
WMC260555 | RC-97 | 1060 | 24 | NW | 5 | 12N | 92W | 6th | Red Creek | 2007 |
WMC260556 | RC-98 | 1060 | 25 | NE NW | 5 | 12N | 92W | 6th | Red Creek | 2007 |
WMC260557 | RC-99 | 1060 | 26 | NW | 5 | 12N | 92W | 6th | Red Creek | 2007 |
WMC260558 | RC-100 | 1060 | 27 | NE NW | 5 | 12N | 92W | 6th | Red Creek | 2007 |
WMC260559 | RC-101 | 1060 | 28 | NW | 5 | 12N | 92W | 6th | Red Creek | 2007 |
WMC260560 | RC-102 | 1060 | 29 | NE NW | 5 | 12N | 92W | 6th | Red Creek | 2007 |
WMC260561 | RC-103 | 1060 | 30 | NW | 5 | 12N | 92W | 6th | Red Creek | 2007 |
| | | | | SW | 32 | 13N | 92W | 6th | | |
WMC260562 | RC-104 | 1060 | 31 | NE NW | 5 | 12N | 92W | 6th | Red Creek | 2007 |
| | | | | SE SW | 32 | 13N | 92W | 6th | | |
WMC260563 | RC-105 | 1060 | 32 | NW SW | 4 | 12N | 92W | 6th | Red Creek | 2007 |
| | | | | NE SE | 5 | 12N | 92W | 6th | | |
WMC260564 | RC-106 | 1060 | 33 | NW SW | 4 | 12N | 92W | 6th | Red Creek | 2007 |
WMC260565 | RC-107 | 1060 | 34 | NW | 4 | 12N | 92W | 6th | Red Creek | 2007 |
| | | | | NE | 5 | 12N | 92W | 6th | | |
WMC260566 | RC-108 | 1060 | 35 | NW | 4 | 12N | 92W | 6th | Red Creek | 2007 |
WMC260567 | RC-109 | 1060 | 36 | NW | 4 | 12N | 92W | 6th | Red Creek | 2007 |
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BLM Serial# | Claim Name | Location Last Book | Notice/ Amendment Page | Subd. | Section | Township | Range | PM | Property Name | Last Assessment |
| | | | | NE | 5 | 12N | 92W | 6th | | |
WMC260568 | RC-110 | 1060 | 37 | NW | 4 | 12N | 92W | 6th | Red Creek | 2007 |
WMC260569 | RC-111 | 1060 | 38 | NW | 4 | 12N | 92W | 6th | Red Creek | 2007 |
| | | | | NE | 5 | 12N | 92W | 6th | | |
WMC260570 | RC-112 | 1060 | 39 | NW | 4 | 12N | 92W | 6th | Red Creek | 2007 |
WMC260571 | RC-113 | 1060 | 40 | NW | 4 | 12N | 92W | 6th | Red Creek | 2007 |
| | | | | NE | 5 | 12N | 92W | 6th | | |
| | | | | SE | 32 | 13N | 92W | 6th | | |
| | | | | SW | 33 | 13N | 92W | 6th | | |
WMC260572 | RC-114 | 1060 | 41 | NW | 4 | 12N | 92W | 6th | Red Creek | 2007 |
| | | | | SW | 33 | 13N | 92W | 6th | | |
WMC260573 | RC-115 | 1060 | 42 | SW SE | 32 | 13N | 92W | 6th | Red Creek | 2007 |
WMC260574 | RC-116 | 1060 | 43 | SE | 32 | 13N | 92W | 6th | Red Creek | 2007 |
| | | | | SW | 33 | 13N | 92W | 6th | | |
WMC260575 | RC-117 | 1060 | 44 | SW SE | 32 | 13N | 92W | 6th | Red Creek | 2007 |
WMC260576 | RC-118 | 1060 | 45 | SE | 32 | 13N | 92W | 6th | Red Creek | 2007 |
| | | | | SW | 33 | 13N | 92W | 6th | | |
WMC260577 | RC-119 | 1060 | 46 | SW SE | 32 | 13N | 92W | 6th | Red Creek | 2007 |
WMC260578 | RC-120 | 1060 | 47 | SE | 32 | 13N | 92W | 6th | Red Creek | 2007 |
| | | | | SW | 33 | 13N | 92W | 6th | | |
WMC260579 | RC-121 | 1060 | 48 | SW SE | 32 | 13N | 92W | 6th | Red Creek | 2007 |
WMC260580 | RC-122 | 1060 | 49 | SE | 32 | 13N | 92W | 6th | Red Creek | 2007 |
| | | | | SW | 33 | 13N | 92W | 6th | | |
WMC260581 | RC-123 | 1060 | 50 | NE NW SW SE | 32 | 13N | 92W | 6th | Red Creek | 2007 |
WMC260582 | RC-124 | 1060 | 51 | NE SE | 32 | 13N | 92W | 6th | Red Creek | 2007 |
| | | | | NW SW | 33 | 13N | 92W | 6th | | |
WMC260583 | RC-125 | 1060 | 52 | NE NW | 32 | 13N | 92W | 6th | Red Creek | 2007 |
WMC260584 | RC-126 | 1060 | 53 | NE | 32 | 13N | 92W | 6th | Red Creek | 2007 |
| | | | | NW | 33 | 13N | 92W | 6th | | |
- 7 -
| | | Location | Notice/ | | | | | | | |
| | Claim | Last | Amendment | | | | | | Property | Last |
BLM Serial# | Name | Book | Page | Subd. | Section | Township | Range | PM | Name | Assessment |
WMC260585 | RC-127 | 1060 | 54 | NE NW | 32 | 13N | 92W | 6th | Red Creek | 2007 |
WMC260586 | RC-128 | 1060 | 55 | NE | 32 | 13N | 92W | 6th | Red Creek | 2007 |
| | | | | NW | 33 | 13N | 92W | 6th | | |
WYOMING STATE MINING LEASE NO. 0-41095
ALL SECTION 36, TOWNSHIP 13 NORTH, RANGE 93 WEST, 6TH PM, CARBON COUNTY, WYOMING
640 ACRES
