Relinquishment and Surrender of Lease and Option Agreement between Yellowcake Mining, Inc. and Beckworth Corporation
Yellowcake Mining, Inc. and Beckworth Corporation have agreed to immediately terminate and cancel their lease and option agreement dated December 28, 2007. All rights and obligations under the original agreement are extinguished, and Yellowcake Mining, Inc. relinquishes any interest in the specified mining properties back to Beckworth Corporation. The agreement is binding on both parties and their successors. The document also lists the affected mining claims and notes certain title defects and encumbrances related to the properties.
RELINQUISHMENT and SURRENDER of LEASE and OPTION
Yellowcake Mining, Inc. (the “Lessee”), pursuant to a certain lease and option agreement made between the Lessee and Beckworth Corporation (the “Lessor”) dated December 28, 2007 (the “Lease and Option”), hereby terminates and cancels said Lease and Option effective immediately and all rights and obligations under said Lease and Option are hereby cancelled.
All the interests of Lessee in the property under or by virtue of the Lease and Option are hereby absolutely extinguished effective immediately.
The Lessee hereby quits claims to the real property more particularly described in Schedule “A” attached hereto, together with all appurtenances and water rights incident thereto.
This agreement shall be binding upon the parties, their successors, assigns and personal representatives.
In witness whereof, the Lessee has signed this 15th day of May, 2009.
YELLOWCAKE MINING INC.
| By: | /s/ William Tafuri |
| Name: | William Tafuri |
| Title: | President, CFO, Secretary and Treasurer |
| PROVINCE OF BRITISH COLUMBIA | ) |
| )SS | |
| COUNTY OF ____________________ | ) |
On this 15th day of May, 2009, there personally came before me William Tafuri, as President and CEO of Yellowcake Mining, Inc., a Nevada corporation and acknowledged the foregoing to be his free act and deed in his said capacity and the free act and deed of said a Nevada corporation.
/s/ Karen Richardson
NOTARY PUBLIC
| Residing at: | KAREN F. RICHARDSON | |
| Barrister & Solicitor | ||
| 800-885 West Georgia Street | ||
| Vancouver, BC V6C 3H1 | ||
| Telephone: (604) 687-5700 |
My Commission Expires:
My commission never expires
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Schedule “A”
Mining Properties and Disclosure of Matters Relating to Mining Properties
The Titan Claims
Legal Description:
CLAIM GROUPS AND CLAIM NAMES | LOCATION DATE | CMC NO. | DATE FILED WITH BLM | CO. DOC. NO. | DATE REC. | LOCATOR |
| Titan #1 Group | ||||||
Titan #1 | 5-8-2007 | 268790 | 6-22-2007 | 775159 | 6-6-2007 | Beckworth Corp. |
| Titan #2 | " | 268791 | " | 775160 | " | " |
| Titan #3 | " | 268792 | " | 775161 | " | " |
| Titan #4 | " | 268793 | " | 775163 | " | " |
| Titan #5 | " | 268794 | " | 775164 | " | " |
| Titan #6 | " | 268795 | " | 775162 | " | " |
| Titan #7 | " | 268796 | " | 775165 | " | " |
| Titan #8 | " | 268797 | " | 775166 | " | " |
| Titan #9 | " | 268798 | " | 775167 | " | " |
| Titan #10 | " | 268799 | " | 775168 | " | " |
| Titan #11 | " | 268800 | " | 775169 | " | " |
| Titan #12 | " | 268801 | " | 775170 | " | " |
| Titan #13 | " | 268802 | " | 775171 | " | " |
| Titan #14 | " | 268803 | " | 775172 | " | " |
Disclosure of Matters Relating to Mining Properties
Lessor’s title to the Mining Properties is expressly subject to the following defects, encroachments, impairments or overlaps of the Mining Properties, upon rights of others.
| 1. | Overlaps of any portion of any Mining Properties upon State Lands where the State of Colorado has the mineral interest, or upon federal lands withdrawn from mineral entry. | |
| 2. | Surface rights grantees, licensees and permittees of the United States and State of Colorado, including, but not limited to grazing rights (permits or leases), rights of ways, roads, utility corridors, and water rights recognized by the Colorado State Engineer or reserved to the Federal Government | |
| 3. | Rights of parties to non-locatable minerals, including but not limited to oil, gas, coal, hydrocarbons, leaseable minerals, leaseable resources, and common minerals | |
| 4. | Overlaps of any claims constituting the Mining Properties, where the claim is in itself otherwise valid except to the extent of its overlaps upon (1) other mining claims having a valid priority of the area of the overlap, (2) patented mineral estates, (3) State Lands or (4) federal lands not open to mineral entry such as the lands in Atomic Energy Withdrawal areas. | |
| 5. | Defects resulting from the location of claims within Power Site Classifications where such claims have been relocated and have been or will be timely filed with the Bureau of Land Management. |
