Termination Notice and Settlement Agreement between Standard Gold Corp., Rocky Mountain Minerals Corp., and Arden Larson
Standard Gold Corp. and Rocky Mountain Minerals Corp. have agreed with Arden Larson to terminate their June 11, 2012 Option Agreement, as amended, effective June 14, 2016. As part of the termination, Bullfrog Gold Corp. will issue 270,000 restricted common shares to Arden Larson as full settlement of all obligations under the agreement. The parties confirm that all relevant data has been transferred, and a Quitclaim Deed for 52 mining claims is attached. This agreement finalizes all responsibilities related to the original option arrangement.
Standard Gold Corp.
Rocky Mountain Minerals Corp.
897 Quail Run Drive. Grand Junction CO 81505
June 21, 2016
Mr. Arden Larson
2512 Hayes Drive
Grand Junction, CO 81505
| Re: | June 11, 2012 Option Agreement as amended |
|
| May 6, 2015 |
Dear Arden:
With respect to our phone discussion on June 14, 2016, this letter confirms termination of the subject Option Agreement ("Agreement") effective June 14,2016. Bullfrog Gold Corp. agrees to issue you as soon as practical 270,000 shares of common shares of BFGC that are restricted pursuant to SEC rule 144. Such shares are issued as full and final payment of any and all past and future obligations under the Agreement as amended.
Although all data has been transferred to you during the term of the Agreement, let us know if there is anything else that you may be aware that we may have concerning the Project and the Agreement.
Last August we agreed to file claim maintenance on 72 unpatented claims, of which 52 were claims staked by Standard Gold in its own name and 20 were part of the original 64 claims in the June 11,2012 Agreement. Attached is a Quitclaim Deed for the 52 claims.
With best wishes to your future endeavors,
Standard Gold Corp.
Rocky Mountain Minerals Corp.
/s/ David Beling
David Beling
President
| Agreed and accepted by: | /s/ Arden Larson |
|
| Arden Larson, Optionor |
