LETTER OF INTENT BY AND BETWEEN SIERRA RESOURCE GROUP, INC. AND MEDINA PROPERTY GROUP, LLC. IN REGARDS TO THE PROPERTY KNOWN AS CHLORIDE COPPER MINE IN KINGMAN ARIZONA

1.  

Provide a good faith non refundable deposit of $13,000 representing 1% of the total purchase price.

2.  

The parties will diligently and in good faith negotiate a definitive agreement (the "Definitive Agreement") incorporating the principal terms of the contemplated transaction as set forth herein and, in addition, such other terms and provisions of a more detailed nature as the parties may agree upon.  In the Definitive Assignment Agreement, each of SIRG and MPG will make such representations and warranties are customary in transactions of this nature.   All representations and warranties will survive the closing of the transactions contemplated herein and any and all investigations at any time made by or on behalf of the parties.  The Definitive Agreement shall be completed and executed on or before March 19, 2012 (the “Closing Date”), unless both parties agree to an extension not to exceed 10 days.

3.  

Certify the Certificate of Ownership, titles and other required information.

4.  

Provide any and all documentation proving its compliance with the laws governing mining in Arizona and the United States of America.

1.  

No less than $750,000 at closing in the form of a wire transfer to MPG’s assignees or designees.

2.  

If amount at closing is less than $1,300,000 than the remaining balance shall be financed at an annual interest rate of ten percent (10%).  Said amount will be amortized and paid monthly for a period of 12 months beginning after the Chloride Copper mine begins production.  Production shall be defined as when the Chloride Copper mine has processed and output the first batch of copper that in that final form is eligible to be sold on the open market.  If production does not begin until after 12 months from the execution of the definitive agreement then SIRG agrees to accrue a monthly payment penalty representing 10% of the monthly payment until payments begin.

3.  

SIRG shall deliver a certificate(s) totaling 20,000,000 shares of Class A Common Stock of SIRG upon signing of a definitive purchase agreement to the assignees of MPG.

4.  

MPG shall deliver Deed and Bill of Sale representing 50% of its interest in the Chloride Copper Mine.

1.  

The execution and performance of this Letter of Intent by MPG has been duly authorized by the general partner and limited partners of MPG.

2.  

The performance by MPG of this Letter of Intent will not violate any applicable court decree, law or regulation, nor will it violate any provisions of the organizational documents of MPG or any contractual obligation by which MPG may be bound.

3.  

MPG has the legal right to conduct exploration and development programs on the CHLORIDE COPPER MINE and has the right to mine and otherwise commercially exploit any minerals found on the CHLORIDE COPPER MINE.

4.  

MPG will not exploit, commercialize, sell, or negotiate, during the duration of this Letter of Intent, the Chloride Copper Mine nor any of its assets.

1.  

SIRG was validly incorporated and is currently in good standing pursuant to the relevant laws and regulations of the State of Delaware

2.  

The execution and performance of this Letter of Intent by SIRG has been duly authorized by the management of SIRG.

3.  

The performance by SIRG of this Letter of Intent will not violate any applicable court decree, law or regulation, nor will it violate any provisions of the organizational documents of SIRG or any contractual obligation by which SIRG may be bound.