EX-99.17 31 a2155477zex-99_17.htm EXHIBIT 99.17
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Exhibit 99.17

 
Issued to: BNY Trust Company of Canada
4 King Street West, Suite 1101
Toronto, ON M5N 1K9		    
       

By:
Hudson Bay Mining and Development Company Limited
2200-201 Portage Avenue
Winnipeg, MB R3B 3L3

FIXED CHARGE

 
 
 
$300,000,000.00 USD

DEMAND DEBENTURE

(IMMATERIAL PROPERTIES — MANITOBA)

HUDSON BAY EXPLORATION AND DEVELOPMENT COMPANY LIMITED

together with its successors and permitted assigns (hereinafter called "the Issuer") for value received hereby promises to pay to or to the order of BNY TRUST COMPANY OF CANADA, who and whose successors and assigns are herein and in the attached conditions hereto called the "Holder", on demand, the sum of Three Hundred Million Dollars ($300,000,000.00)in lawful money of the United States of America, at the office of the Holder specified above, or at such other place or places as the Holder may from time to time designate and will pay on demand at said location to the Holder interest thereon or on so much thereof as is from time to time outstanding at the rate of 30% per annum calculated semi-annually in arrears and payable, both before and after demand and judgment.

        As continuing security for payment of all monies from time to time owing hereunder (including without limitation, interest and all expenses incurred by the Holder in recovering or enforcing payment of monies owing hereunder or realizing upon this Debenture), the Issuer hereby mortgages and charges to and in favour of the Holder, its successors and assigns, as and by way of a fixed and specific mortgage and charge (collectively, the "Charge"), all real and immovable property (including leasehold interests and any other interest or right in real or immovable property) now or hereafter owned or acquired by the Issuer and situate in the Provinces of Manitoba or Saskatchewan, together with any claims, permits, licenses, privileges, benefits, easements, rights of way, mineral and surface rights, minerals and mineral claims, and all other rights, estate, title or interests of any kind or nature whatsoever pertaining thereto, and including without limiting the generality of the foregoing, all of its interest and estate in the claims described in Part 1of Schedule A hereto and all of its interest and estate in the leases and permits described in Part 2 of Schedule A hereto (the property subject to the Charge, being collectively, the "Collateral").

        THIS DEBENTURE is issued subject to and with the benefit of the Conditions and Schedule attached hereto, all of which are to be deemed part of this Debenture. 'The Issuer intends that the security interests created by this Debenture will attach property in which it has rights on its execution of this Debenture and will attach property which it squires thereafter as soon as the Issuer acquires rights therein.

        IN WITNESS WHEREOF the Issuer has caused its corporate seal to be affixed hereto, duly attested by the hands of its proper officers in that regard, and this Debenture is dated the 17th day of December, 2004.

 
    HUDSON BAY EXPLORATION AND DEVELOPMENT COMPANY LIMITED
       
       

 
 
Per:
/s/    Brian Gordon
Name: Brian Gordon
Title:  Secretary

THE CONDITIONS HEREINBEFORE REFERRED TO

1.    The Charge shall not extend to or apply to, and the Collateral shall not include, (i) the last day of the term of any lease or agreement therefor but if the Charge should become enforceable the Issuer shall stand possessed of such last day in trust to assign the same to any person acquiring such term; (ii) any Collateral that is excluded from the Charge by the Holder in writing and (iii) any Excluded Assets (as that term is defined in the Indenture to be entered into between HudBay Mining and Smelting Inc. and The Bank of New York as the same may be amended, supplemented or otherwise varied from time to time (the "Indenture").

2.    The principal monies and interest hereby secured and other monies from time to time owing hereunder will be paid without regard to any equities between the Issuer and the original or any intermediate holder hereof or any right of set-off or cross-claim.

3.    The Holder may waive any breach by the Issuer of any of the provisions contained in this Debenture or any default by the Issuer in the observance or performance of any covenant or conditions required to be observed or performed by the Issuer under the terms of this Debenture, provided always that no such waiver of the Holder shall extend to or be taken in any manner whatsoever to affect any subsequent breach or default or the rights resulting therefrom.

4.    In the event that the Issuer fails to pay any amount payable hereunder when due or the notes issued under the Indenture have become due and payable, the Charge shall become and be enforceable immediately without the necessity of any further act or formality and the Holder without limiting or restricting any other rights, powers, privileges and remedies which the Holder may at any time have under this Debenture, contract, at law, in equity or howsoever otherwise, shall have the following described rights, powers, privileges and remedies, namely:

    (a)
    to enter upon and to possess all of or any portion or portions of the Collateral with the power to exclude the Issuer and its officers, employees and agents therefrom;

    (b)
    to collect the rents, revenues, profits and incomes of and from the Collateral and any portion or portions thereof;

    (c)
    to seize and distrain upon any of the Collateral which is real and immoveable property or any portion or portions thereof and by distress warrant to recover by way of rent reserved as in the case of a demise of real property the indebtedness hereby secured or any portion or portions thereof together with all of the Holder's costs, charges and expenses attendant upon the levying of such distress as in like manner of distress for rent, provided however that nothing in this subparagraph or anything done pursuant thereto by or on behalf of the Holder shall result in the Holder being or being deemed to be a mortgagee in possession or liable for the performance of any of the obligations of a landlord;

    (d)
    to preserve, to maintain, to operate and to carry on the Collateral or any portion or portions thereof;

    (e)
    to make such replacements of or for and such additions to the Collateral and any portion or portions thereof as the Holder shall deem advisable;

    (f)
    to sell, to lease or to otherwise dispose of from time to time the Collateral and any portion or portions thereof whether by public auction or by private sale or otherwise and either for cash or on credit or partly for cash and partly for credit and on such terms and conditions as the Holder may determine, provided however that it shall not be incumbent on the Holder to sell, lease or otherwise dispose of the Collateral or any portion or portions thereof but the Holder may peaceably use and possess the Collateral or any portion or portions thereof without hindrance or interruption by the Issuer or by any other person or persons whomsoever, and provided further however that wherever any sale or other disposition is made in whole or in part upon credit, the Holder shall not be taken or deemed to have received payment or satisfaction with respect to that portion of any such sale or disposition so made upon credit until the Holder has received actual payment in full;

    (g)
    to convey, to transfer, to lease and to assign to and to vest in the purchaser or purchasers, or as the case may be the lessee or lessees, the title to or ownership of or as the case may be a leasehold interest in the Collateral and any portion or portions thereof; and

2

    (h)
    to commence and pursue such legal action, suit, remedy or proceeding against the Issuer, the Collateral or any portion or portions thereof as may be authorized or permitted hereunder or at law or in equity including proceedings in any court of competent jurisdiction for the appointment of a receiver or for sale of the Collateral or any portion or portions thereof and to file such proofs of claim and other documents as may be necessary or advisable in order to have its claim lodged in any bankruptcy, winding-up or other judicial proceedings relative to the Issuer;

and the Holder may exercise the foregoing rights, powers, privileges and remedies (and any other rights, powers, privileges and remedies to which the Holder is entitled) or any of them at such time or times following the occurrence of any one or more events of default in such manner as the Holder in its sole discretion deems expedient.

        Provided always that the Holder shall not be bound (whether before or after default hereunder) to collect, dispose of, realize or enforce the Charge against the Collateral or any portion or portions thereof and except for gross negligence, willful misconduct and criminal acts or omissions, the Holder shall not be liable or responsible for any loss or damage which may accrue or be sustained in consequence of the Holder's negligence or the negligence of any officer, servant, agent, solicitor, counsel or other attorney or receiver employed by or appointed by the Holder in the collection, disposition, realization or enforcement of the security hereby constituted, and the Holder shall not be liable or accountable for any failure to exercise any of its rights, powers, privileges and remedies aforesaid or any of them at any time and from time to time.

        Provided further however that notwithstanding the realization of the security hereby constituted, the Issuer shall nevertheless remain fully liable to the Holder for any deficiency or deficiencies owing to the Holder with respect to the indebtedness hereby secured.

5.    If the Charge shall become enforceable, the Holder may, by instrument in writing, appoint any person or persons, whether an officer or officers or employee or employees of the Holder or not, to be a receiver or receiver-manager of all or any part of the Collateral and may remove any receiver or receiver-manager so appointed and appoint another or others in his or their stead. Any such receiver or receiver-manager so appointed to the extent permitted by law, shall have power:

    (a)
    to take possession of, collect and get in the Collateral and for that purpose to take any proceedings in the name of the Issuer or otherwise;

    (b)
    to carry on or concur in carrying on the business of the Issuer and for that purpose to raise money on the Collateral in priority to this Debenture or otherwise;

    (c)
    to sell or concur in selling any of the Collateral and carry any such sale into effect by conveying in the name or on behalf of the Issuer or otherwise;

    (d)
    to make any arrangement or compromise which he or it shall think expedient in the interest of the Holder.

        Any receiver or receiver-manager so appointed shall be deemed to be the agent of the Issuer and the issuer shall be solely responsible for his or its or their acts or defaults and for his or its or their remuneration and expenses, and except for gross negligence, willful misconduct and criminal acts and omissions, the Holder shall not be in any way responsible for any misconduct or negligence on the part of any such receiver or receiver-manager.

        All monies received by such receiver or receiver-manager from any realization of all or any part of the Collateral after providing for payment of charges ranking prior to this Debenture and for all costs, charges and expenses of or incidental to the exercise of any of the powers of such receiver or receiver-manager shall be applied in or towards satisfaction of this Debenture. The rights and powers conferred by this section are in supplement of and not in substitution for any rights the Holder may from time to time have.

6.    The Issuer agrees to pay to the Holder forthwith upon demand all expenses incurred by the Holder in recovering or enforcing payment of monies owing hereunder or realizing upon this Debenture or any other securities for such monies, including expenses of taking possession, protecting and realizing upon any Collateral together with interest at the rate provided for in this Debenture from the date of payment of such expenditures.

3


7.    The principal, interest and other monies payable hereunder shall be paid in lawful money of the United States of America.

8.
The Holder may in its discretion:

(a)
release any Collateral from the Charge;

(b)
agree to any modification, compromise, release or waiver of the rights of the Holder against the Issuer or against any Collateral, whether such rights shall arise under the Debenture or otherwise;

(c)
agree to accept any other properties or Securities instead of the Debenture;

and the exercise of such discretion shall not diminish the obligation of the Issuer to perform any of the covenants contained in this Debenture.

9.    This Debenture and all amendments and supplements thereto are and shall at all times be and be deemed to be in addition to and not in substitution for any other security or securities ("Other Securities") now or hereafter held or acquired by the Holder in connection with or to secure the obligations hereby secured or any part or parts thereof and:

    (a)
    to the maximum extent permitted by applicable law, the taking, realization, foreclosure, alteration or cancellation of or any other dealing or dealings with or actions taken or omissions made under the Debenture shall not release or affect or create any merger or alter or prejudice or derogate from the Other Securities or any of them and the obligations hereby secured;

    (b)
    to the maximum extent permitted by applicable law, the taking, realization, foreclosure, alteration or cancellation of or any other dealing or dealings with or actions taken or omissions made under any of the Other Securities shall not release or affect or create any merger or alter or prejudice or derogate from this Debenture and the obligations hereby secured.

10.    This Debenture is issued to the Holder as security to secure the indebtedness, obligations and liabilities of the Issuer existing from time to time as described in the debenture delivery agreement dated the date hereof; executed by the Issuer in favour of the Holder, as such agreement may be amended, supplemented, restated or replaced from time to time.

11.    The Issuer hereby covenants and agtees that it will at all times do, execute, acknowledge and deliver or cause to be done, executed, acknowledged and delivered all and singular all such further acts, deeds, mortgages, hypothecs, transfers, assignments and assurances in law as the Holder may require for the better assuring, mortgaging, hypothecating, charging, transferring, assigning and confirming unto the Holder the property and assets hereby mortgaged and charged or intended so to be or which the Issuer may hereafter become bound to mortgage, hypothecate, transfer, assign and charge in favour of the Holder and for the better accomplishing and effectuating of this Debenture.

12.    This Debenture and all its provisions shall be governed by and construed in accordance with the laws of Manitoba, shall enure to the benefit of the Holder, and its respective successors and assigns, and shall be binding upon the Issuer, its successors and assigns.

        These conditions are part of the Debenture executed by the Issuer dated the 17th day of December, 2004.

 
    HUDSON BAY EXPLORATION AND DEVELOPMENT COMPANY LIMITED
       
       

 
 
Per:
/s/    Brian Gordon
Name: Brian Gordon
Title:  Secretary

4

Part 1 of SCHEDULE "A" to $300,000,000 USD Fixed Charge Demand Debenture from Hudson Bay Exploration and Development Company Limited to BNY Trust Company of Canada dated December 17, 2004

Claims
    
    
    
Claim   P4592   E.D. 1   HBED
Claim   P4593   E.D. 2   HBED
Claim   P4594   E.D. NO. 3   HBED
Claim   CB10565   ZYL10565   HBED
Claim   CB9243   ZYL   HBED
Claim   CB9244   ZYL   HBED
Claim   CB9246   ZYL   HBED
Claim   P1769F   ZYL 1769   HBED
Claim   P1770F   ZYL 1770   HBED
Claim   P2872E   ZYL 65 FR.   HBED
Claim   P2873E   ZYL 66 FR.   HBED
Claim   P2874E   ZYL 67 FR.   HBED
Claim   P2914E   ZYL 64   HBED
Claim   P9507C   ZYL 53   HBED
Claim   P9508C   ZYL 54 FR.   HBED
Claim   P9509C   ZYL 55 FR.   HBED
Claim   P9510C   ZYL 56   HBED
Claim   P98670   WIM 880   HBED
Claim   P98957   NEW 9   HBED
Claim   W49947   WIN 49947   HBED
Claim   W49948   WIN 49948   HBED
Claim   W54437   ZYL 54437   HBED
Claim   W54438   ZYL 54438   HBED
Claim   W54439   ZYL 54439   HBED
Claim   W54443   ZYL 54443   HBED
Claim   W54450   ZYL 54450   HBED
Claim   W54451   ZYL 54451   HBED
Claim   W54452   ZYL 54452   HBED
Claim   CB10611   WAN 10611   HBED
Claim   CB10634   WAN 10634   HBED
Claim   CB10789   WAN 10789   HBED
Claim   CB5304   WAN   HBED
Claim   CB5305   WAN   HBED
Claim   CB5325   WAN   HBED
Claim   CB5358   WAN   HBED
Claim   CB5359   WAN   HBED
Claim   CB5360   WAN   HBED
Claim   CB6024   WAN   HBED
Claim   CB6025   WAN   HBED
Claim   CB6081   WAN   HBED
Claim   CB6082   WAN   HBED
Claim   CB6084   WAN   HBED
Claim   CB6088   WAN   HBED
Claim   MB2539   WAN 2539   HBED
Claim   P1455E   DAP 1   HBED
Claim   P1456E   DAP 2   HBED
Claim   P1457E   DAP 3   HBED
Claim   P1744D   WAN 306   HBED
             

5

Claim   P1745D   WAN 307   HBED
Claim   P2920E   WAN 311   HBED
Claim   P2921E   WAN 312   HBED
Claim   P2922E   WAN 313   HBED
Claim   P3852E   WAN 323 FR.   HBED
Claim   P3853E   WAN 324   HBED
Claim   P4153E   WAN 4153   HBED
Claim   P4285A   WAN 170 FR.   HBED
Claim   P4437C   WAN 173 FR.   HBED
Claim   P4438C   WAN 174 FR.   HBED
Claim   P4439C   WAN 175   HBED
Claim   P4445C   WAN 181   HBED
Claim   P4446C   WAN 182   HBED
Claim   P4552A   WAN 141   HBED
Claim   P4553A   WAN 142   HBED
Claim   P7821E   WAN 7821   HBED
Claim   P863F   ARROW FR.   HBED
Claim   P9288C   WAN 219   HBED
Claim   P9289C   WAN 220   HBED
Claim   P9290C   WAN 221 FR.   HBED
Claim   P9291C   WAN 222 FR.   HBED
Claim   P9292C   WAN 223   HBED
Claim   P9293C   WAN 224   HBED
Claim   P9294C   WAN 225   HBED
Claim   P9295C   WAN 226   HBED
Claim   CB5799   MUD   HBED
Claim   CB5800   MUD   HBED
Claim   P1765F   ED 1765   HBED
Claim   P1766F   ED 1766   HBED
Claim   P1767F   ED 1767   HBED
Claim   P2871E   MUD 73 FR.   HBED
Claim   P2906E   MUD 66   HBED
Claim   P2915E   MUD 67   HBED
Claim   P5651D   MUD 74   HBED
Claim   P98692   MUD 4 FR.   HBED
Claim   P98693   MUD 5   HBED
Claim   P98730   MUD 42   HBED
Claim   P98731   MUD 43   HBED
Claim   P99020   MUD 62   HBED
Claim   P99021   MUD 63 FR.   HBED
Claim   CB13407   PEN 13407   HBED
Claim   CB13408   PEN 13408   HBED
Claim   CB13413   PEN 13413   HBED
Claim   CB146   PEN   HBED
Claim   CB6478   PEN   HBED
Claim   CB6479   PEN   HBED
Claim   CB6480   PEN   HBED
Claim   CB6481   PEN   HBED
Claim   CB6482   PEN   HBED
Claim   CB6488   PEN   HBED
Claim   CB6489   PEN   HBED
Claim   CB6490   PEN   HBED
             

6

Claim   P1584F   PEN 1584 FR   HBED
Claim   P1585F   PEN 1585   HBED
Claim   P1586F   PEN 1586   HBED
Claim   P3918E   PEN 405 FR.   HBED
Claim   P3919E   PEN 406   HBED
Claim   P4645E   PEN 4645   HBED
Claim   P4647E   PEN 4647   HBED
Claim   P4650E   PEN 4650   HBED
Claim   P4651E   PEN 4651   HBED
Claim   P4824E   PEN 4824 FR.   HBED
Claim   P4825E   PEN 4825   HBED
Claim   P4826E   PEN 4826 FR.   HBED
Claim   P4896E   PEN 4896 FR.   HBED
Claim   P5106E   KIX 15   HBED
Claim   P612F   PEN 612 FR   HBED
Claim   P7315A   PEN 84   HBED
Claim   P7316A   PEN 85   HBED
Claim   P7317A   PEN 86   HBED
Claim   P7318A   PEN 87   HBED
Claim   P7337A   PEN 88   HBED
Claim   P7338A   PEN 89   HBED
Claim   P7342A   PEN 93   HBED
Claim   P7343A   PEN 94   HBED
Claim   P7344A   PEN 95   HBED
Claim   P7449E   PEN 7449   HBED
Claim   P7450E   PEN 7450   HBED
Claim   P7451E   PEN 7451   HBED
Claim   W54067   PEN 54067   HBED
Claim   P7823E   LAW 7823   HBED
Claim   W54662   LAW 54662   HBED
Claim   CB10610   BUR 10610   HBED
Claim   CB10639   BUR 10639   HBED
Claim   CB10739   BUR 10739   HBED
Claim   CB10740   BUR 10740   HBED
Claim   CB10741   BUR 10741   HBED
Claim   CB12411   BUR 12411   HBED
Claim   CB12412   BUR 12412   HBED
Claim   CB13359   BUR 13359   HBED
Claim   CB13360   BUR 13360   HBED
Claim   CB13361   BUR 13361   HBED
Claim   CB13384   BUR 13384   HBED
Claim   CB13385   BUR 13385   HBED
Claim   CB13446   BUR 13446   HBED
Claim   CB6067   BUR   HBED
Claim   CB6103   BUR   HBED
Claim   CB6104   BUR   HBED
Claim   CB6472   BUR   HBED
Claim   CB7030   BUR   HBED
Claim   CB9247   BUR   HBED
Claim   CB9248   BUR   HBED
Claim   CB9249   BUR   HBED
Claim   CB9252   BUR   HBED
             

7

Claim   CB9253   BUR   HBED
Claim   P1335B   KIK 135 FR   HBED
Claim   P1779F   BUR 1779   HBED
Claim   P1792C   BUR 1   HBED
Claim   P1965D   BUR 13 FR.   HBED
Claim   P1966D   BUR 12 FR   HBED
Claim   P1996E   BUR 217 FR   HBED
Claim   P2601C   BUR 2 FR.   HBED
Claim   P2602C   BUR 3 FR.   HBED
Claim   P2603C   BUR 4   HBED
Claim   P2604C   BUR 5   HBED
Claim   P2908F   BUR 2908   HBED
Claim   P4062C   BUR 6   HBED
Claim   P4063C   BUR 7   HBED
Claim   P4064C   BUR 8 FR.   HBED
Claim   P4065C   BUR 9 FR.   HBED
Claim   P4066C   BUR 10 FR.   HBED
Claim   P4067C   BUR 11 FR.   HBED
Claim   P5143A   KIK 9   HBED
Claim   P5144A   KIK 10   HBED
Claim   P5616A   KIK 69   HBED
Claim   P5620A   KIK 73 FR.   HBED
Claim   P5621A   KIK 74   HBED
Claim   P5920A   KIK 49   HBED
Claim   P5922A   KIK 51   HBED
Claim   P5923A   KIK 52   HBED
Claim   P5935A   KIK 64   HBED
Claim   6028A   KIK 31 FR.   HBED
Claim   P6029A   KIK 32 FR.   HBED
Claim   P6030A   KIK 33   HBED
Claim   P6031A   KIK 34 FR.   HBED
Claim   P6034A   KIK 37   HBED
Claim   P6035A   KIK 38   HBED
Claim   P6036A   KIK 39   HBED
Claim   P6037A   KIK 40   HBED
Claim   P6045A   KIK 48   HBED
Claim   P7815E   BUR 7815   HBED
Claim   P7816E   BUR 7816   HBED
Claim   P7817E   BUR 7817   HBED
Claim   P7856E   BUR 7856   HBED
Claim   P9345D   BUR 64   HBED
Claim   P9346D   BUR 65   HBED
Claim   P9352D   BUR 71   HBED
Claim   P9353D   BUR 72   HBED
Claim   P9354D   BUR 73   HBED
Claim   P9355D   BUR 74 FR.   HBED
Claim   P9356D   BUR 75 FR.   HBED
Claim   P9357D   BUR 76   HBED
Claim   P9411D   BUR 216 FR.   HBED
Claim   P9501D   BUR 29 FR.   HBED
Claim   P9502D   BUR 30   HBED
Claim   P9503D   BUR 31 FR.   HBED
             

8

Claim   P9504D   BUR 32   HBED
Claim   P9505D   BUR 33   HBED
Claim   P9506D   BUR 34   HBED
Claim   P9508D   BUR 36   HBED
Claim   P9509D   BUR 37   HBED
Claim   P9510D   BUR 38   HBED
Claim   P9511D   BUR 39   HBED
Claim   P9512D   BUR 40 FR.   HBED
Claim   P9531D   BUR 41 FR.   HBED
Claim   P9532D   BUR 42 FR.   HBED
Claim   P9533D   BUR 43   HBED
Claim   P9534D   BUR 44   HBED
Claim   P9535D   BUR 45   HBED
Claim   P9536D   BUR 46   HBED
Claim   P9537D   BUR 47   HBED
Claim   P9538D   BUR 48   HBED
Claim   P9539D   BUR 49   HBED
Claim   P9540D   BUR 50   HBED
Claim   P9541D   BUR 51   HBED
Claim   P9542D   BUR 52   HBED
Claim   P9543D   BUR 53   HBED
Claim   P9544D   BUR 54   HBED
Claim   P9545D   BUR 55 FR.   HBED
Claim   P9546D   BUR 56 FR.   HBED
Claim   P9547D   BUR 57   HBED
Claim   P9548D   BUR 58   HBED
Claim   P9552D   BUR 170 FR.   HBED
Claim   P9603D   BUR 77   HBED
Claim   P9604D   BUR 78   HBED
Claim   P9605D   BUR 79   HBED
Claim   P9606D   BUR 80   HBED
Claim   P9607D   BUR 81   HBED
Claim   P9608D   BUR 82   HBED
Claim   P9609D   BUR 83   HBED
Claim   P9610D   BUR 84   HBED
Claim   P9611D   BUR 85   HBED
Claim   P9612D   BUR 86   HBED
Claim   P9613D   BUR 87 FR.   HBED
Claim   P9624D   BUR 206   HBED
Claim   P9625D   BUR 207   HBED
Claim   P9626D   BUR 208   HBED
Claim   P9627D   BUR 209 FR.   HBED
Claim   P9834D   BUR 211   HBED
Claim   P9835D   BUR 212   HBED
Claim   W54453   BUR 54453   HBED
Claim   GP 3624   GENERAL PERMIT   GENERAL PERMIT 3624
Claim   CB6444   BUD   HBED
Claim   CB6445   BUD   HBED
Claim   CB9416   BUD 51   HBED
Claim   CB9417   BUD 52   HBED
Claim   P3942E   BUD #50   HBED
             

9

Claim   P4999E   BUD 42   HBED
Claim   P5000E   BUD 43   HBED
Claim   P5001E   BUD 44   HBED
Claim   P5002E   BUD 45 FR.   HBED
Claim   P5003E   BUD 46 FR.   HBED
Claim   P5004E   BUD 47 FR.   HBED
Claim   P5005E   BUD 48 FR.   HBED
Claim   P5006E   BUD 49 FR.   HBED
Claim   P5594B   BUD 19   HBED
Claim   P5595B   BUD 20   HBED
Claim   P6570B   BUD 14   HBED
Claim   P6571B   BUD 15   HBED
Claim   P6572B   BUD 16   HBED
Claim   P6573B   BUD 17   HBED
Claim   P6574B   BUD 18   HBED
Claim   MB2236   KUS 2236   HBED
Claim   MB2262   KUS 2262   HBED
Claim   MB2518   KUS 2518   HBED
Claim   MB262   KUS 262   HBED
Claim   MB263   KUS 263   HBED
Claim   MB265   KUS 265   HBED
Claim   MB266   KUS 266   HBED
Claim   MB267   KUS 267   HBED
Claim   MB268   KUS 268   HBED
Claim   P1633F   KUS 1633   HBED
Claim   P1634F   KUS 1634   HBED
Claim   P1639F   KUS 1639   HBED
Claim   P1643F   KUS 1643   HBED
Claim   P1644F   KUS 1644   HBED
Claim   P1652F   KUS 1652   HBED
Claim   P1653F   KUS 1653   HBED
Claim   P1654F   KUS 1654   HBED
Claim   P1655F   KUS 1655   HBED
Claim   P1656F   KUS 1656   HBED
Claim   P1657F   KUS 1657   HBED
Claim   P1658F   KUS 1658   HBED
Claim   P1659F   KUS 1659   HBED
Claim   P1731F   KUS 1731   HBED
Claim   P1732F   KUS 1732   HBED
Claim   P1761F   KUS 1761   HBED
Claim   P1762F   KUS 1762   HBED
Claim   P1799F   KUS 1799   HBED
Claim   P1805F   KUS 1805   HBED
Claim   P1812F   KUS 1812   HBED
Claim   P1813F   KUS 1813   HBED
Claim   P1814F   KUS 1814   HBED
Claim   P1815F   KUS 1815   HBED
Claim   P1816F   KUS 1816   HBED
Claim   P1817F   KUS 1817   HBED
Claim   P1818F   KUS 1818   HBED
Claim   P1820F   KUS 1820   HBED
Claim   P1821F   KUS 1821   HBED
             

10

Claim   P1822F   KUS 1822   HBED
Claim   P1824F   KUS 1824   HBED
Claim   P1825F   KUS 1825   HBED
Claim   P2876F   KUS 2876   HBED
Claim   P2877F   KUS 2877   HBED
Claim   P2880F   KUS 2880   HBED
Claim   P2881F   KUS 2881   HBED
Claim   P2882F   KUS 2882   HBED
Claim   P2961F   KUS 2961   HBED
Claim   P2962F   KUS 2962   HBED
Claim   P7119E   KUS 7119   HBED
Claim   P7805E   KUS 7805   HBED
Claim   W54039   KUS 54039   HBED
Claim   W54055   KUS 54055   HBED
Claim   W54475   KUS 54475   HBED
Claim   MB2281   MAW 2281   HBED
Claim   MB270   MAW 270   HBED
Claim   P3617F   MAW 3617   HBED
Claim   P3618F   MAW 3618   HBED
Claim   P3619F   MAW 3619   HBED
Claim   P3620F   MAW 3620   HBED
Claim   P3621F   MAW 3621   HBED
Claim   P3622F   MAW 3622   HBED
Claim   P3624F   MAW 3624   HBED
Claim   W54015   MAW 54015   HBED
Claim   W54016   MAW 54016   HBED
Claim   W54017   MAW 54017   HBED
Claim   W54018   MAW 54018   HBED
Claim   W54091   MAW 54091   HBED
Claim   W54092   MAW 54092   HBED
Claim   W54096   MAW 54096   HBED
Claim   W54679   MAW 54679   HBED
Claim   W54680   MAW 54680   HBED
Claim   W54681   MAW 54681   HBED
Claim   W54682   MAW 54682   HBED
Claim   W54683   MAW 54683   HBED
Claim   W54684   MAW 54684   HBED
Claim   W54685   MAW 54685   HBED
Claim   W54687   MAW 54687   HBED
Claim   W54688   MAW 54688   HBED
Claim   W54689   MAW 54689   HBED
Claim   W54690   MAW 54690   HBED
Claim   W54753   MAW 54753   HBED
Claim   W54842   MAW 54842   HBED
Claim   W54843   MAW 54843   HBED
Claim   W54845   MAW 54845   HBED
Claim   W54846   MAW 54846   HBED
Claim   W54847   MAW 54847   HBED
Claim   P1673F   YAP 1673   HBED
Claim   W54476   YAP 54476   HBED
Claim   W54477   YAP 54477   HBED
Claim   W54478   YAP 54478   HBED
             

11

Claim   CB159   EEL   HBED
Claim   CB2698   EEL   HBED
Claim   CB2700   EEL   HBED
Claim   CB2701   EEL   HBED
Claim   MB2237   EEL 2237   HBED
Claim   P1782F   EEL 1782   HBED
Claim   P2644F   EEL 150 FR.   HBED
Claim   P2645E   EEL 151 FR.   HBED
Claim   P5646D   EEL 193 FR.   HBED
Claim   P5647D   EEL 194 FR.   HBED
Claim   P5648D   EEL 195 FR.   HBED
Claim   RMR50       HBED
Claim   W54072   EEL 54072   HBED
Claim   W54074   EEL 54074   HBED
Claim   W54075   EEL 54075   HBED
Claim   W54076   EEL 54076   HBED
Claim   W54085   EEL 54085   HBED
Claim   W54093   EEL 54093   HBED
Claim   W54094   EEL 54094   HBED
Claim   W54095   EEL 54095   HBED
Claim   P1733F   WAY 1733   HBED
Claim   MB324   YES 324   HBED
Claim   W54462   YES 54462   HBED
Claim   W54463   YES 54463   HBED
Claim   W54466   YES 54466   HBED
Claim   W54470   YES 54470   HBED
Claim   W54472   YES 54472   HBED
Claim   W54474   YES 54474   HBED
Claim   MB348   NIM 348   HBED
Claim   P2921F   NIM 2921   HBED
Claim   P2922F   NIM 2922   HBED
Claim   P2928F   NIM 2928   HBED
Claim   P2929F   NIM 2929   HBED
Claim   P2931F   NIM 2931   HBED
Claim   P2932F   NIM 2932   HBED
Claim   P2933F   NIM 2933   HBED
Claim   P2951F   NIM 2951   HBED
Claim   P3501F   NIM 3501   HBED
Claim   P3507F   NIM 3507   HBED
Claim   P3510F   NIM 3510   HBED
Claim   W54433   NIM 54433   HBED
Claim   W54456   NIM 54456   HBED
Claim   W54766   NIM 54766   HBED
Claim   W54769   NIM 54769   HBED
Claim   W54800   NIM 54800   HBED
Claim   P8715E   ARBOUR 40   HBED
Claim   P8808E   ARBOUR 38   HBED
Claim   P8809E   ARBOUR 39   HBED
Claim   W48161   ARBOUR 7   HBED
Claim   W48162   ARBOUR 8   HBED
Claim   P23989   JULY 1   HBED
Claim   P23990   JULY 2   HBED
             

12

Claim   P4444   LODE EXT. NO. 3   HBED
Claim   P4628   ALF 10   HBED
Claim   P4629   ALF NO. 14   HBED
Claim   P4673   ALF 1   HBED
Claim   P5859   HBED 10   HBED
Claim   P5862   HBED NO. 13   HBED
Claim   P5863   HBED NO. 14   HBED
Claim   P5864   HBED NO. 15   HBED
Claim   P5865   HBED NO. 16   HBED
Claim   P5866   HBED NO. 17   HBED
Claim   P5867   HBED NO. 18   HBED
Claim   P5868   HBED NO. 20   HBED
Claim   P5869   HBED NO. 21   HBED
Claim   P5871   HBED NO. 23   HBED
Claim   P5876   HBED 28   HBED
Claim   P5877   HBED 29   HBED
Claim   P5878   HBED 30 FR.   HBED
Claim   P5879   HBED 31 FR.   HBED
Claim   P5880   HBED 32   HBED
Claim   P5881   HBED 33   HBED
Claim   P5882   HBED 34   HBED
Claim   P5883   HBED 35   HBED
Claim   P5884   HBED 36   HBED
Claim   P5889   HBED 41   HBED
Claim   P5890   HBED 42   HBED
Claim   P5891   HBED NO. 43   HBED
Claim   P5893   HBED 45   HBED
Claim   P5894   HBED NO. 46   HBED
Claim   P5896   HBED 50   HBED
Claim   P5897   HBED NO. 51   HBED
Claim   P5898   HBED NO. 52   HBED
Claim   P6038   HBED NO. 49   HBED
Claim   P6039   HBED NO. 60   HBED
Claim   P6040   HBED NO. 61   HBED
Claim   P6041   HBED NO. 62   HBED
Claim   P6042   HBED NO. 63   HBED
Claim   P6043   HBED NO. 64   HBED
Claim   P6044   HBED NO. 65   HBED
Claim   P6045   HBED NO. 66   HBED
Claim   P6046   HBED NO. 68   HBED
Claim   P6047   HBED NO. 69   HBED
Claim   P6048   HBED NO. 70   HBED
Claim   P6060   HBED NO. 19 FR.   HBED
Claim   P6061   HBED NO. 48 FR.   HBED
Claim   P6062   HBED NO. 67 FR.   HBED
Claim   P6152   HBED NO. 92   HBED
Claim   P6159   HBED NO. 93   HBED
Claim   P6162   HBED 86   HBED
Claim   P6163   HBED 88   HBED
Claim   P6168   HBED 87   HBED
Claim   P6169   HBED 85   HBED
Claim   P6177   HBED 90   HBED
             

13

Claim   P6178   HBED 89   HBED
Claim   W49827   NEK 1   HBED
Claim   MB2240   ROS 2240   HEED
Claim   MB2241   ROS 2241   HBED
Claim   MB901   ROS 901   HBED
Claim   MB902   ROS 902   HBED
Claim   MB903   ROS 903   HBED
Claim   MB904   ROS 904   HBED
Claim   MB905   ROS 905   HBED
Claim   MB907   ROS 907   HBED
Claim   MB908   ROS 908   HBED
Claim   MB909   ROS 909   HBED
Claim   MB910   ROS 910   HBED
Claim   MB911   ROS 911   HBED
Claim   MB914   ROS 914   HBED
Claim   MB917   ROS 917   HBED
Claim   MB918   ROS 918   HBED
Claim   MB919   ROS 919   HBED
Claim   MB920   ROS 920   HBED
Claim   MB921   ROS 921   HBED
Claim   P4898E   ROS 4898   HBED
Claim   P4899E   ROS 4899   HBED
Claim   P4900E   ROS 4900   HBED
Claim   P4901E   ROS 4901   HBED
Claim   W54059   ROS 54059   HBED
Claim   W54060   ROS 54060   HBED
Claim   W54061   ROS 54061   HBED
Claim   W54425   ROS 54425   HBED
Claim   CB12595   FUD CB 12595   HBED
Claim   CB12596   FUD 12596   HBED
Claim   MB241   FUD 241   HBED
Claim   P1737F   FUD 1737   HBED
Claim   P1747F   FUD 1747   HBED
Claim   P1748F   FUD 1748   HBED
Claim   P1753F   FUD 1753   HBED
Claim   P1754F   FUD 1754   HBED
Claim   P2965F   FUD 2965   HBED
Claim   P2966F   FUD 2966   HBED
Claim   P2967F   FUD 2967   HBED
Claim   P4605E   FUD 1 FR.   HBED
Claim   P4606E   FUD 2   HBED
Claim   P4609E   FUD 5   HBED
Claim   W54487   FUD 54487   HBED
Claim   W54488   FUD 54488   HBED
Claim   W54489   FUD 54489   HBED
Claim   W54490   FUD 54490   HBED
Claim   W54492   FUD 54492   HBED
Claim   W54493   FUD 54493   HBED
Claim   W54498   FUD 54498   HBED
Claim   W54656   FUD 54656   HBED
Claim   W54664   FUD 54664   HBED
Claim   W54665   FUD 54665   HBED
             

14

Claim   W54666   FUD 54666   HBED
Claim   W54668   FUD 54668   HBED
Claim   W54669   FUD 54669   HBED '
Claim   W54670   FUD 54670   HBED
Claim   W54671   FUD 54671   HBED
Claim   W54672   FUD 54672   HBED
Claim   W54673   FUD 54673   HBED
Claim   W54674   FUD 54674   HBED
Claim   W54675   FUD 54675   HBED
Claim   W54676   FUD 54676   HBED
Claim   W54678   FUD 54678   HBED
Claim   W54696   FUD 54696   HBED
Claim   W54697   FUD 54697   HBED
Claim   W54698   FUD 54698   HBED
Claim   W54849   FUD 54849   HBED
Claim   P1889C   PIN 2 FR.   HBED
Claim   P1890C   PIN 3 FR.   HBED
Claim   P1891C   PIN 4   HBED
Claim   P1892C   PIN 5   HBED
Claim   P1894C   PIN 7 FR.   HBED
Claim   P1895C   PIN 8   HBED
Claim   P1896C   PIN 9   HBED
Claim   P1897C   PIN 10 FR.   HBED
Claim   P2001E   PIN 18 FR.   HBED
Claim   P3924E   PIN 19 FR.   HBED
Claim   P4078C   PIN 16 FR.   HBED
Claim   P4079C   PIN 17 FR.   HBED
Claim   P94728   TAL 1 FR.   HBED
Claim   P94729   TAL 2 FR.   HBED
Claim   P94730   TAL 3 FR.   HBED
Claim   P94731   TAL 4 FR.   HBED
Claim   P94732   TAL 5 FR.   HBED
Claim   P94733   TAL 6 FR.   HBED
Claim   P94734   TAL 7   HBED
Claim   P94735   TAL 8   HBED
Claim   P94736   TAL 9   HBED
Claim   P94737   TAL 10   HBED
Claim   P94738   TAL 11   HBED
Claim   P94739   TAL 12 FR.   HBED
Claim   P94740   TAL 13 FR.   HBED
Claim   P94741   TAL 14 FR.   HBED
Claim   P94742   TAL 15 FR.   HBED
Claim   P94743   TAL 16 FR.   HBED
Claim   P94744   TAL 17 FR.   HBED
Claim   P94745   TAL 18 FR.   HBED
Claim   CB13362   BIG 13362   HBED
Claim   CB3020   BIG   HBED
Claim   CB5354   BIG   HBED
Claim   CB5355   BIG   HBED
Claim   CB5356   BIG   HBED
Claim   CB5357   BIG   HBED
Claim   CB5354   BIG   HBED
             

15

Claim   CB5355   BIG   HBED
Claim   CB5356   BIG   HBED
Claim   CB5357   BIG   HBED
Claim   P4313E   BIG 7   HBED
Claim   MB305   RES 305   HBED
Claim   MB316   RES 316   HBED
Claim   P1674F   RES 1674   HBED
Claim   P7025E   RES 7025   HBED
Claim   W54407   RES 54407   HBED
Claim   W54839   RES 54839   HBED
Claim   MB2256   DYC 2256   HBED
Claim   MB2257   DYC 2257   HBED
Claim   MB2258   DYC 2258   HBED
Claim   MB2259   DYC 2259   HBED
Claim   MB2260   DYC 2260   HBED
Claim   MB2261   DYC 2261   HBED
Claim   MB2540   DYC 2540   HBED
Claim   MB2541   DYC 2541   HBED
Claim   MB321   DYC 321   HBED
Claim   MB387   DYC 387   HBED
Claim   P3484F   DYC 3484   HBED
Claim   P3485F   DYC 3485   HBED
Claim   P3604F   DYC 3604   HBED
Claim   P3605F   DYC 3605   HBED
Claim   P3607F   DYC 3607   HBED
Claim   P3609F   DYC 3609   HBED
Claim   P3612F   DYC 3612   HBED
Claim   P3613F   DYC 3613   HBED
Claim   P3614F   DYC 3614   HBED
Claim   P3615F   DYC 3615   HBED
Claim   P3616F   DYC 3616   HBED
Claim   W54019   DYC 54019   HBED
Claim   W54020   DYC 54020   HBED
Claim   W54021   DYC 54021   HBED
Claim   W54022   DYC 54022   HBED
Claim   W54023   DYC 54023   HBED
Claim   W54026   DYC 54026   HBED
Claim   W54027   DYC 54027   HBED
Claim   W54028   DYC 54028   HBED
Claim   W54029   DYC 54029   HBED
Claim   W54031   DYC 54031   HBED
Claim   W54032   DYC 54032   HBED
Claim   W54036   DYC 54036   HBED
Claim   W54695   DYC 54695   HBED
Claim   P74157   PAR #203   HBED
Claim   P74158   PAR #204   HBED
Claim   P74159   PAR #205   HBED
Claim   P74168   PAR #214   HBED
Claim   P74169   PAR #215   HBED
Claim   P74170   PAR #216   HBED
Claim   P74195   PAR #241   HBED
Claim   P74196   PAR #242   HBED
             

16

Claim   P74197   PAR #243   HBED
Claim   29408   C.C.   HBED
Claim   29409   JAY   HBED
Claim   CB10603   DUB 10603   HBED
Claim   CB10604   DUB 10604   HBED
Claim   CB10605   DUB 10605   HBED
Claim   CB10606   DUB 10606   HBED
Claim   CB10607   DUB 10607    
Claim   CB10608   DUB 10608   HBED
Claim   CB4991   DUB   HBED
Claim   CB4992   DUB   HBED
Claim   CB5361   DUB   HBED
Claim   CB5778   DUB   HBED
Claim   CB5779   DUB   HBED
Claim   CB5780   DUB   HBED
Claim   CB5781   DUB   HBED
Claim   CB5782   DUB   HBED
Claim   CB5791   DUB   HBED
Claim   CB5792   DUB   HBED
Claim   CB5793   DUB   HBED
Claim   CB5794   DUB   HBED
Claim   CB6080   DUB   HBED
Claim   CB6085   DUB   HBED
Claim   CB7064   DUB   HBED
Claim   DUB 10603   DUB   HBED
Claim   CB10660   FUD 10660   HBED
Claim   CB10661   FUD 10661   HBED
Claim   CB10662   FUD 10662   HBED
Claim   CB13403   FUD 13403   HBED
Claim   P52038   CARL 1   HBED
Claim   P52039   CARL 2   HBED
Claim   P52040   CARL 3   HBED
Claim   P52041   CARL 4   HBED
Claim   P52042   CARL 5   HBED
Claim   P52043   CARL 6   HBED
Claim   W49950   HUD 49950   HBED
Claim   W54005   HUD 54005   HBED
Claim   W54006   HUD 54006   HBED
Claim   W54007   HUD 54007   HBED
Claim   CB12425   FRE 12425   HBED
Claim   CB12426   FRE 12426   HBED
Claim   CB12439   FRE 12439   HBED
Claim   CB13386   FRE 13386   HBED
Claim   CB13390   FRE 13390   HBED
Claim   CB13391   FRE 13391   HBED
Claim   CB5458   FRE   HBED
Claim   CB5459   FRE   HBED
Claim   CB5460   FRE   HBED
Claim   CB5473   FRE   HBED
Claim   CB5478   FRE   HBED
Claim   CB5479   FRE   HBED
Claim   CB5503   FRE   HBED
             

17

Claim   CB5573   FRE   HBED
Claim   P4397E   REED NO. 2   HBED
Claim   P4408E   REED NO. 13   HBED
Claim   P4409E   REED NO. 14   HBED
Claim   P4410E   REED NO. 15   HBED
Claim   P4411 E   REED NO. 16   HBED
Claim   P4426E   REED NO. 31   HBED
Claim   P4427E   REED NO. 32   HBED
Claim   P4428E   REED NO. 33   HBED
Claim   P4429E   REED NO. 34   HBED
Claim   P4444E   REED NO. 49   HEED
Claim   P4445E   REED NO. 50   HBED
Claim   P5030E   FRE 5030   HBED
Claim   P7818E   FRE 7818   HBED
Claim   W54008   FRE 54008   HBED
Claim   W54009   FRE 54009   HEED
Claim   W54010   FRE 54010   HBED
Claim   W54011   FRE 54011   HBED
Claim   W54012   FRE 54012   HBED
Claim   W54013   FRE 54013   HBED
Claim   W54014   FRE 54014   HEED
Claim   W54078   FRE 54078   HEED
Claim   W54080   FRE 54080   HBED
Claim   W54081   FRE 54081   HBED
Claim   W54083   FRE 54083   HEED
Claim   W54084   FRE 54084   HEED
Claim   MB2211   RUT 2211   HBED
Claim   MB2212   RUT 2212   HBED
Claim   MB2213   RUT 2213   HBED
Claim   MB2251   RUT 2251   HBED
Claim   MB2252   RUT 2252   HBED
Claim   MB2253   RUT 2253   HEED
Claim   MB2254   RUT 2254   HBED
Claim   MB2255   RUT 2255   HBED
Claim   MB279   RUT 279   HBED
Claim   MB280   RUT 280   HBED
Claim   MB283   RUT 283   HBED
Claim   MB284   RUT 284   HBED
Claim   MB285   RUT 285   HBED
Claim   MB286   RUT 286   HBED
Claim   MB287   RUT 287   HBED
Claim   MB288   RUT 288   HBED
Claim   MB289   RUT 289   HBED
Claim   MB297   RUT 297   HBED
Claim   MB298   RUT 298   HBED
Claim   MB299   RUT 299   HBED
Claim   MB388   RUT 388   HBED
Claim   MB389   RUT 389   HBED
Claim   MB390   RUT 390   HBED
Claim   MB392   RUT 392   HBED
Claim   MB393   RUT 393   HEED
Claim   MB394   RUT 394   HBED
             

18

Claim   MB395   RUT 395   HBED
Claim   MB396   RUT 396   HBED
Claim   MB397   RUT 397   HBEP
Claim   MB398   RUT 398   HBED
Claim   MB399   RUT 399   HBED
Claim   MB400   RUT 400   HBED
Claim   MB912   RUT 912   HBED
Claim   MB913   RUT 913   HBED
Claim   MB922   RUT 922 F   HBED
Claim   W54058   RUT 54058   HBED
Claim   W54402   RUT 54402   HBED
Claim   W54408   RUT 54408   HBED
Claim   W54409   RUT 54409   HEED
Claim   W54410   RUT 54410   HEED
Claim   W54411   RUT 54411   HBED
Claim   W54412   RUT 54412   HBED
Claim   W54413   RUT 54413   HBED
Claim   W54414   RUT 54414   HBED
Claim   W54416   RUT 54416   HBED
Claim   W54417   RUT 54417   HBED
Claim   W54418   RUT 54418   HBED
Claim   W54419   RUT 54419   HBED
Claim   W54431   RUT 54431   HBED
Claim   W54432   RUT 54432   HBED
Claim   W54436   RUT 54436   HBED
Claim   W54500   RUT 54500   HBED
Claim   W54611   RUT 54611   HBED
Claim   CB6728   ALF   HBED
Claim   CB6735   EAGLE   HBED
Claim   CB9770   ROSE   HBED
Claim   W46951   ARBOUR 27   HBED
Claim   W48169   ARBOUR 15   HBED
Claim   W48170   ARBOUR 16   HBED
Claim   W48171   ARBOUR 17   HBED
Claim   W48173   ARBOUR 19   HEED
Claim   W48174   ARBOUR 20   HBED
Claim   W49122   ARBOUR 33   HBED
Claim   CB4764       HBED
Claim   CB5374   DYC   HBED
Claim   CB5376   DYC   HBED
Claim   CB5379       HBED
Claim   CB5380       HBED
Claim   CB5381       HBED
Claim   CB5832       HEED
Claim   CB5384       HBED
Claim   CB12812   LIM 2   HBED
Claim   CB12815   LIM 4   HBED
Claim   CB12816   LIM 6   HBED
Claim   CB12817   LIM 7   HBED
Claim   CB12819   LIM 9   HBED
Claim   CB12820   LIM 8   HBED
Claim   CB12821   MOO 1   HBED
             

19

Claim   CB12822   MOO 2   HBED
Claim   CB12824   MOO 6   HEED
Claim   CB12825   MOO 5   HBED
Claim   CB12826   MOO 4   HBED
Claim   CB12827   MOO 7   HBED
Claim   CB12828   MOO 8   HBED
Claim   P9956E   BLUE 1   HBED
Claim   P9957E   BLUE 2   HBED
Claim   P9960E   BLUE 5   HBED
Claim   P9963E   BLUE 8   HBED
Claim   P8865E   BLUE 10   HBED
Claim   P99664   BLUE 11   HEED
Claim   P6977E   STACK 4   HBED
Claim   P8397E   STACK 5   HBED
Claim   W47077   STACK 2   HBED
Claim   CB6558       HBED
Claim   CB6560       HBED
Claim   CB6568       HBED
Claim   CB6570       HBED
Claim   CB6571       HBED
Claim   CB6572       HBED
Claim   CB6573       HBED
Claim   MB2210   HAR 2210   HBED
Claim   MB2243   HAR 2243   HBED
Claim   MB2244   HAR 2244   HBED
Claim   MB2245   HAR 2245   HBED
Claim   MB2246   HAR 2246   HBED
Claim   MB2247   HAR 2247   HBED
Claim   MB2248   HAR 2248   HBED
Claim   MB2249   HAR 2249   HBED
Claim   MB2250   HAR 2250   HBED
Claim   MB2264   HAR 2264   HBED
Claim   MB 2282   HAR 2282   HBED
Claim   MB2283   HAR 2283   HBED
Claim   MB2284   HAR 2284   HBED
Claim   MB2285   HAR 2285   HBED
Claim   MB 2291   HAR 2291   HBED
Claim   MB2292   HAR 2292   HBED
Claim   MB2293   HAR 2293   HBED
Claim   MB2294   HAR 2294   HBED
Claim   MB2295   HAR 2295   HBED
Claim   MB2296   HAR 2296   HBED
Claim   MB245   HAR 245   HBED
Claim   MB246   HAR 246   HBED
Claim   MB247   HAR 247   HBED
Claim   MB 248   HAR 248   HBED
Claim   MB249   HAR 249   HBED
Claim   MB250   HAR 250   HBED
Claim   MB2501   HAR 2501   HBED
Claim   MB2502   HAR 2502   HBED
Claim   MB2503   HAR 2503   HBED
Claim   MB2505   HAR 2505   HBED
             

20

Claim   MB2506   HAR 2506   HBED
Claim   MB251   HAR 251   HBED
Claim   MB2513   HAR 2513   HBED
Claim   MB2514   HAR 2514   HBED
Claim   MB2515   HAR 2515   HBED
Claim   MB2516   HAR 2516   HBED
Claim   MB2517   HAR 2517   HBED
Claim   MB2519   HAR 2519   HBED
Claim   MB252   HAR 252   HBED
Claim   MB2520   HAR 2520   HBED
Claim   MB2521   HAR 2521   HBED
Claim   MB2522   HAR 2522   HBED
Claim   MB2523   HAR 2523   HBED
Claim   MB2524   HAR 2524   HBED
Claim   MB2525   HAR 2525   HBED
Claim   MB2526   HAR 2526   HBED
Claim   MB2527   HAR 2527   HBED
Claim   MB2528   HAR 2528   HBED
Claim   MB2529   HAR 2529   HBED
Claim   MB253   HAR 253   HBED
Claim   MB2530   HAR 2530   HBED
Claim   MB2531   HAR 2531   HBED
Claim   MB2532   HAR 2532   HBED
Claim   MB2533   HAR 2533   HBED
Claim   MB2534   HAR 2534   HBED
Claim   MB2535   HAR 2535   HBED
Claim   MB2536   HAR 2536   HBED
Claim   MB2537   HAR 2537   HBED
Claim   MB2538   HAR 2538   HBED
Claim   MB254   HAR 254   HBED
Claim   MB255   HAR 255   HBED
Claim   MB256   HAR 256   HBED
Claim   MB257   HAR 257   HBED
Claim   MB258   HAR 258   HBED
Claim   MB259   HAR 259   HBED
Claim   MB260   HAR 260   HBED
Claim   MB276   HAR 276   HBED
Claim   MB277   HAR 277   HBED
Claim   MB278   HAR 278   HBED
Claim   MB281   HAR 281   HBED
Claim   MB296   HAR 296   HBED
Claim   MB301   HAR 301   HBED
Claim   MB306   HAR 306   HBED
Claim   MB311   HAR 311   HBED
Claim   MB312   HAR 312   HBED
Claim   MB322   HAR 322   HBED
Claim   MB223   HAR 323   HBED
Claim   MB325   HAR 325   HBED
Claim   MB326   HAR 326   HBED
Claim   MB327   HAR 327   HBED
Claim   MB328   HAR 328   HBED
Claim   MB329   HAR 329   HBED
             

21

Claim   MB330   HAR 330   HBED
Claim   MB331   HAR 331   HBED
Claim   MB332   HAR 332   HBED
Claim   MB333   HAR 333   HBED
Claim   MB334   HAR 334   HBED
Claim   MB335   HAR 335   HBED
Claim   MB336   HAR 336   HBED
Claim   MB337   HAR 337   HBED
Claim   MB338   HAR 338   HBED
Claim   MB339   HAR 339   HBED
Claim   MB340   HAR 340   HBED
Claim   MB346   HAR 346   HBED
Claim   MB369   HAR 369   HBED
Claim   MB370   HAR 370   HBED
Claim   MB371   HAR 371   HBED
Claim   MB374   HAR 374   HBED
Claim   MB376   HAR 376   HBED
Claim   MB380   HAR 380   HBED
Claim   MB381   HAR 381   HBED
Claim   MB382   HAR 382   HBED
Claim   MB923   HAR 923   HBED
Claim   MB924   HAR 924   HBED
Claim   MB925   HAR 925   HBED
Claim   MB926   HAR 926   HBED
Claim   MB927   HAR 927   HBED
Claim   MB938   HAR 938   HBED
Claim   MB939   HAR 939   HBED
Claim   MB940   HAR 940   HBED
Claim   MB941   HAR 941   HBED
Claim   MB953   HAR 953   HBED
Claim   MB954   HAR 954   HBED
Claim   MB963   HAR 963   HBED
Claim   MB967   HAR 967   HBED
Claim   MB968   HAR 968   HBED
Claim   MB991   HAR 991   HBED
Claim   MB992   HAR 992   HBED
Claim   MB993   HAR 993   HBED
Claim   MB994   HAR 994   HBED
Claim   MB996   HAR 996   HBED
Claim   MB997   HAR 997   HBED
Claim   P2939F   NIM 2939   HBED
Claim   P2944F   NIM 2944   HBED
Claim   P2945F   NIM 2945   HBED
Claim   P2946F   NIM 2946   HBED
Claim   P2947F   NIM 2947   HBED
Claim   P2948F   NIM 2948   HBED
Claim   P2949F   NIM 2949   HBED
Claim   MB201   NIM 201   HBED
Claim   MB203   NIM 203   HBED
Claim   MB207   NIM 207   HBED
Claim   MB208   NIM 208   HBED
Claim   MB209   NIM 209   HBED
             

22

Claim   MB210   NIM 210   HBED
Claim   MB211   NIM 211   HBED
Claim   MB217   NIM 217   HBED
Claim   MB2297   HAR 2297   HBED
Claim   MB2298   HAR 2298   HBED
Claim   MB2299   HAR 2299   HBED
Claim   MB2300   HAR 2300   HBED
Claim   W54829   NIM 54829   HBED
Claim   W54830   NIM 54830   HBED
Claim   MB3542   WAN2542   HBED
Claim   MB2543   WAN 2543   HBED
Claim   M2544   WAN 2544   HBED
Claim   M2545   WAN 2545   HBED
Claim   M2546   WAN 2546   HBED
Claim   M2547   WAN 2547   HBED
Claim   M2548   WAN 2548   HBED
Claim   M2549   WAN 2549   HBED
Claim   M2550   WAN 2550   HBED

Part 2 of SCHEDULE "A" to $300,000,000 USD Fixed Charge Demand Debenture from Hudson Bay Exploration and Development Company Limited to BNY Trust Company of Canada dated December 17, 2004

Mineral Leases

    
    
    
Mineral Lease   ML037   RAIL MINING LEASE   HBED

 
 
 
 
 
 
 
Miscellaneous Leases

    
    
    
Misc Lease   MSC3722   MISC LEASE 3722   HBED
Misc Lease   MSC3578   MISC LEASE 3578   HBED

23



QuickLinks

Exhibit 99.17