Lion Copper and Gold Corp. Yet ! Bear DepositeBear Deposit,
Nevada
The Bear deposit consists of approximately 2,300 acres of private land located to the northeast of the Yerington Mine Property.
The Company has five option agreements, entered from March 2013 to May 2015, to acquire a 100% interest in private land in
Yerington, Nevada, known as the Bear deposit. Under the terms of these option agreements, as amended, the Company is
required to make $5,673,290 in cash payments over 15 years ($5,029,290 paid) to maintain the exclusive right to purchase the
land, mineral rights, and certain water rights and to conduct mineral exploration on these properties. Two of the properties are
subject to a 2% NSR upon commencing commercial production, which can be reduced to a 1% NSR in consideration of
$1,250,000 total.
Outstanding payments due under the five option agreements by year are as follows:
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$193,000 due in 2021 (paid);
$193,000 due 2022;
$201,000 due in 2023;
$50,000 due in years 2024 to 2028.