Relinquishment and Surrender of Lease and Option with Eagle Venture Group LLC dated May 15, 2009
RELINQUISHMENT and SURRENDER of LEASE and OPTION
FOR GOOD AND VALUABLE CONSIDERATION, the receipt and sufficiency of which being hereby acknowledged, Yellowcake Mining, Inc. (the “Lessee”), and Eagle Venture Group LLC (the “Lessor”), under a certain lease and option agreement made between the parties dated December 28, 2007 (the “Lease and Option”), do hereby mutually agree to terminate and cancel 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 releases the Lessor from all obligations arising under the Lease and Option. The Lessor hereby releases the Lessee from all obligations arising under the Lease and Option.
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 Switchback Claims
Legal Description:
CLAIM GROUPS AND CLAIM NAMES | LOCATION DATE | CMC NO. | DATE FILED WITH BLM | CO. DOC. NO. | DATE REC. | LOCATOR | COMMENTS |
| Switchback #1A Group | |||||||
Swithback #1A | 12-10-2005* | 256652 | 1-13-2006 | 748478 | 12-21-2005 | Eagle Venture Group LLC | *Amendment Date |
| Swithback #2A | " | 256653 | " | 748479 | " | " | " |
| Swithback #3A | " | 256654 | " | 748480 | " | " | " |
| Swithback #4A | " | 256655 | " | 748481 | " | " | " |
| Swithback #5A | " | 256656 | " | 748482 | " | " | " |
| Swithback #6A | " | 256657 | " | 748483 | " | " | " |
| Swithback #7A | " | 256658 | " | 748484 | " | " | " |
| Switchback #10A | " | 256659 | " | 748485 | " | " | " |
| Switchback #11A | " | 256660 | " | 748486 | " | " | " |
| Switchback #12A | " | 256661 | " | 748487 | " | " | " |
| Switchback #13A | " | 256662 | " | 748488 | " | " | " |
| Switchback #14A | " | 256663 | " | 748489 | " | " | " |
| Switchback #15A | " | 256664 | " | 748490 | " | " | " |
| Switchback #16A | " | 256665 | " | 748491 | " | " | " |
| Switchback #17A | " | 256666 | " | 748492 | " | " | " |
| Switchback #18A | " | 256667 | " | 748493 | " | " | " |
| Switchback #19 | 11-23-2005 | 256668 | " | 748466 | " | " | |
| Switchback #20 | " | 256669 | " | 748467 | " | " | |
| Switchback #21 | " | 256670 | " | 748468 | " | " | |
| Switchback #22 | " | 256671 | " | 748469 | " | " | |
| Switchback #23 | " | 256672 | " | 748470 | " | " | |
| Switchback #24 | " | 256673 | " | 748471 | " | " | |
| Switchback #25 | " | 256674 | " | 748472 | " | " | |
| Switchback #26 | 11-23-2005 | 256675 | " | 748473 | " | " | |
| Switchback #27 | " | 256676 | " | 748474 | " | " | |
| Switchback #28 | " | 256677 | " | 748475 | " | " | |
| Switchback #29 | " | 256678 | " | 748476 | " | " | |
| Switchback #30 | " | 256679 | " | 748477 | " | " |
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| The Last Dollar Group | |||||||
The Last Dollar #1 | 11-25-2005 | 257734 | 2-23-2006 | 748620 | 12-23-2005 | Eagle Venture Group LLC | |
| The Last Dollar #2 | " | 257735 | " | 748621 | " | " | |
| The Last Dollar #3 | " | 257736 | " | 748622 | " | " | |
| The Last Dollar #4 | " | 257737 | " | 748623 | " | " | |
| The Last Dollar #5 | " | 257738 | " | 748624 | " | " | |
| The Last Dollar #6 | " | 257739 | " | 748625 | " | " | |
| The Last Dollar #7 | " | 257740 | " | 748626 | " | " | |
| The Last Dollar #8 | 11-26-2005 | 257741 | " | 748627 | " | " | |
| The Last Dollar #9 | " | 257742 | 748628 | " | " | ||
| The Last Dollar #10 | " | 257743 | " | 748629 | " | " | |
| The Last Dollar #11 | " | 257744 | " | 748630 | " | " | |
| Switchback #8 Group | |||||||
Switchback #8 | 1-1-2006 | 257923 | 3-30-2006 | 749899 | 1-24-2006 | Eagle Venture Group LLC | |
| Switchback #9 | " | 257924 | " | 749900 | " | " | |
| Switchback #31 | 1-3-2006 | 257925 | " | 750104 | 1-30-2006 | " | |
| Switchback #32 | " | 257926 | " | 750105 | " | " | |
| Switchback #33 | " | 257927 | " | 750106 | " | " | |
| Switchback #2AB Group | |||||||
Switchback #2AB | 3-30-2007 | 268804 | 6-22-2007 | 771941 | 4-25-2007 | Eagle Venture Group LLC | |
| Switchback #3AB | " | 268805 | " | 771942 | " | " | |
| Switchback #4AB | " | 268806 | " | 771943 | " | " | |
| Switchback #5AB | " | 268807 | " | 771944 | " | " | |
| Switchback #15AB | " | 268808 | " | 771945 | " | " | |
| Switchback #16AB | " | 268809 | " | 771946 | " | " | |
| Switchback #17AB | " | 268810 | " | 771947 | " | " | |
| Switchback #20AB | " | 268811 | " | 771948 | " | " | |
| Switchback #28AB | " | 268812 | " | 771949 | " | " | |
Switchback #31AB | " | 268813 | " | 771950 | " | Eagle Venture Group LLC | |
| Switchback #32AB | " | 268814 | " | 771951 | " | " |
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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. | |
| 6. | Any defect in title resulting from the late payment or non-payment of initial or annual filing and maintenance fees, where the claims affected have relocated and have been or will be timely filed with the Bureau of Land Management. |
