THIS MINING LEASE (the “Agreement”) is made this 27 day of October, 2005 by and
between GREG KUZMA and HEIDI KUZMA, husband and wife (“Owner”); and MIRANDA U.S.A.,
INC., a Nevada corporation (“Lessee”).
A. Owner owns and possesses thirty (30) unpatented lode mining claims situated in
the_______ Mining District, Elko County, Nevada. The claims are more particularly described as
The foregoing claims are located in Section 24, T. 44 N., R. 69 E.; and Sections 18-19, T. 44
N., R. 70 E., MDM.
These claims, together with all ores, minerals, surface and mineral rights, and the right to
explore for, mine, and remove the same, and all water rights and improvements, easements, licenses,
rights-of-way and other interests appurtenant thereto, shall be referred to collectively as the
B. The parties now desire to enter into an agreement giving Lessee the exclusive right to
explore, develop, and mine the Property.
Angel Wings 1-27
THEREFORE, the parties have agreed as follows:
Lease Term and Royalties
Term of Lease . Owner hereby leases the Property to Lessee for a term of twenty
(20) years, and for so long thereafter as Lessee is engaged in mineral development, mining, or
reclamation and closure activities on the Property. The Effective Date of this Agreement will be
October 27 , 2005, and all rights and obligations shall be calculated on the basis of that date.
1.2 Advance Minimum Royalty Payments . Until production is achieved from the
Property, Lessee shall make the following advance minimum royalty payments to Owner:
Lessee shall pay Owner the sum of THIRTY-FIVE THOUSAND DOLLARS
($35,000.00) upon execution of this Agreement.
Commencing with the first anniversary of the Effective Date, Lessee shall
make the following advance minimum royalty payments to Owner: