Teuton Resources Corp V.TUO

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[highper]

Sanatana may achieve the First Option by fulfilling the following:

1. (a)  paying to ArcWest $500,000 and 2,000,000 common shares as follows:

   1. (i)  $12,500 on signing of the letter agreement and an additional $12,500 on signing of the definitive agreement;

   2. (ii)  $25,000 and 300,000 common shares on or before December 31, 2021;

   3. (iii)  $50,000 and 400,000 common shares on or before December 31, 2022;

   4. (iv)  $100,000 and 600,000 common shares on or before December 31, 2023; and

   5. (v)  $300,000 and 700,000 common shares on or before December 31, 2024;

2. (b)  incurring $6,000,000 in exploration expenditures and an additional $600,000 of assessment work on the property as follows:

   1. (i)  not less than $600,000 of assessment work must be completed on the property before December 31, 2021;

   2. (ii)  additional Exploration Expenditures of not less than $1,000,000 on or before December 31, 2022, which shall include a mandatory minimum of 1,000 meters of NQ Drilling;

   3. (iii)  additional Exploration Expenditures of not less than $2,000,000 on or before December 31, 2023, which shall include a mandatory minimum of 2,000 meters of NQ Drilling;

(iv) additional Exploration Expenditures of not less than $3,000,000 on or before December 31, 2024, which shall include a mandatory minimum of 3,000 meters of NQ Drilling;