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COMMITMENTS

9 Months Ended

Sep. 30, 2024

8. COMMITMENTS

The following table discloses the Company’s contractual obligations as of September 30, 2024, including future anticipated mineral property payments. Under the terms of the Company’s mineral property purchase agreements, mineral leases and unpatented mineral claims, the Company is required to make certain scheduled acquisition payments, incur certain levels of expenditures, make lease or advance royalty payments, make payments to government authorities and incur assessment work expenditures (as summarized in the table below) in order to maintain and preserve the Company’s interests in the related mineral properties. If the Company is unable or unwilling to make any such payments or incur any such expenditure, it is likely that the Company would lose or forfeit its rights to acquire or hold the related mineral properties. The following table assumes that the Company retains the rights to all of its current mineral properties, but does not exercise any lease purchase or royalty buyout options:


	Payments Due by Year
	2024		2025		2026		2027		2028		2029 and beyond		Total
Mineral Property Leases⁽¹⁾	$	—	$	545,272	$	551,088	$	556,977	$	562,939	$	568,976	$	2,785,252
Mining Claim Government Fees		214,790		214,790		214,790		214,790		214,790		214,790		1,288,740
Total	$	214,790	$	760,062	$	765,878	$	771,767	$	777,729	$	783,766	$	4,073,992

Does not include required work expenditures, as it is assumed that the required expenditure level is significantly below the level of work that will actually be carried out by the Company. Does not include potential royalties that may be payable (other than annual minimum royalty payments). See Note 4.