EXHIBIT 10.2

ex_980113.htm

Exhibit 10.2

Exhibit A

Royalty Agreement

Recorded at the request of

and when recorded return to:

Comstock Inc.

117 American Flat Road

P.O. Box 1118

Virginia City, NV 89440

The undersigned affirm that this document does not contain the personal information of any person.

NET SMELTER RETURNS ROYALTY DEED AND AGREEMENT

This NET SMELTER RETURNS ROYALTY DEED AND AGREEMENT (this “Agreement”), dated [__] (the “Effective Date”), is between COMSTOCK MINING LLC, a Nevada limited liability company (“CML”); COMSTOCK PROCESSING LLC, a Nevada limited liability company (“CPL”); COMSTOCK EXPLORATION AND DEVELOPMENT LLC, a Nevada limited liability company (“CEDL,” and collectively with CML and CPL, “Grantor”), and COMSTOCK INC., a Nevada corporation (“Grantee”). Grantor and Grantee may be referred to herein individually as a “Party” or collectively as the “Parties.”

RECITALS

A. Pursuant to a Securities Purchase Agreement dated June 21, 2026 (the “Purchase Agreement”) by and among Grantee, Mackay Precious Metals Inc. (“Mackay”), and Mackay Gold & Silver Corp. (“Mackay Parent”), Grantee agreed to sell one-hundred percent (100%) of the membership interests of CML, CPL, and CEDL, and all of the shares of capital stock of Comstock Real Estate Inc., a Nevada corporation, as well as certain other interests in exchange for certain consideration, including Mackay’s agreement to grant to Grantee a production royalty equal to 1.5% of the Net Smelter Returns, subject to certain limitations set forth in this Agreement (the “NSR Royalty”), from the properties described in Schedule A and Figure A1 of this Agreement situated in Storey County and Lyon County, Nevada (the “NSR Properties”).

B. The Parties desire to enter into this Agreement to define and establish the terms and conditions governing the NSR Royalty. Unless otherwise indicated, capitalized terms used herein shall have the meanings ascribed to such terms in ARTICLE VI (Definitions) of this Agreement.

AGREEMENT

NOW, THEREFORE, in consideration of the foregoing, and for other good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:

ARTICLE I

ROYALTY TERM; CALCULATION; AND PAYMENT

1.1 Grant of Royalty. On the terms and subject to the conditions of this Agreement, the Grantor hereby grants, bargains, sells, transfers, conveys, and agrees to pay to Grantee the NSR Royalty. This royalty is in addition to, and separate from, any prior, underlying royalty interests which may be associated with any of the NSR Properties.

1.2 Term. The NSR Royalty shall be paid with respect to silver, gold and any other valuable mineral or product extracted from the NSR Properties or derived therefrom, in perpetuity from the Effective Date forward.

1.3 Determination of Royalty Rate. The royalty rate of the NSR Royalty with respect to each part of the NSR Properties (the “Royalty Rate”) shall be 1.5% less the existing royalty burden on such part of the NSR Properties as of the Effective Date; provided, that, with respect to any part of the NSR Properties situated in Lyon County, Nevada (a “Lyon County Parcel”), the Royalty Rate shall not be less than 0.5% unless the existing royalty burden on such Lyon County Parcel as of the Effective Date is greater than 2.25%, in which case the total royalty burden on such Lyon County Parcel including the NSR Royalty shall not exceed 2.75%. For the avoidance of doubt, if the existing royalty burden on a Lyon County Parcel as of the Effective Date is 2.75% or greater, the Royalty Rate applicable to such Lyon County Parcel would be 0%.

1.4 Calculation and Payment of NSR Royalty. The Grantor will calculate the NSR Royalty payment due, if any, during each calendar quarter by multiplying the Royalty Rate by the Net Smelter Returns for that calendar quarter. Upon determination by the Grantor that an NSR payment is due and owing to Grantee in a calendar quarter, the Grantor shall deliver to Grantee a payment by wire transfer in immediately available funds, within thirty (30) days after the end of the calendar quarter for which such payment is due, together with a copy of the Grantor’s accounting, sales data and the refinery and smelter settlement statements related to such payment. Grantee agrees to provide wiring instructions to the Grantor for such payments. The Grantor shall be entitled to rely on Grantee’s wiring instructions until such time as Grantee notifies the Grantor in writing of different wiring instructions. The Grantor will not be deemed to be in default under this Agreement and the time for making such payment shall be extended, if, at the time such payment is otherwise due, wire transfer facilities are not available for any reason, so long as the Grantor makes payment as soon as practicable after wire transfer facilities become available.

Amounts not timely paid shall draw interest at the rate of eighteen percent (18%) per annum on the unpaid royalty balance from the due date. If the amounts due remain unpaid sixty (60) days after the date such amounts are payable, Grantee may file a lien on the NSR Properties in the amount of the unpaid royalty.

If it is subsequently determined that an overpayment or underpayment was made, neither Party will be required to make an additional payment or a refund, as applicable, but the overpayment or underpayment shall be corrected in the next calendar quarter following determination that an adjustment is required.

1.5 Taxes. Grantee shall not be responsible for property taxes or similar taxes assessed against the NSR Properties. Any and all taxes arising out of or relating to the NSR Royalty shall be the sole responsibility of the Grantee.

1.6 Buyback Right. Grantor shall have the sole and exclusive right at any time to repurchase all of the NSR Royalty (the “Buyback Right”). Grantor may exercise the Buyback Right by delivering written notice to Grantee of Grantor’s intent to exercise the Buyback Right. Grantor shall pay the Buyback Price not later than thirty (30) days after Grantor’s delivery of the notice, and Grantee shall execute, acknowledge (if applicable), and deliver to Grantor (i) one or more recordable instruments in forms reasonably acceptable to Grantor conveying to Grantor all of Grantee’s right, title, and interest in and to the NSR Royalty and (ii) an instrument terminating this Agreement, subject to the survival of appropriate terms (if any). For purposes of this Section 1.6, “Buyback Price” means $3,500,000, unless the seven-year period described in Section 2.03(d) of the Purchase Agreement for triggering the Contingent Payment (as defined in the Purchase Agreement) has expired and the Contingent Payment has not been triggered, in which case “Buyback Price” means $7,000,000.

ARTICLE II

INFORMATION; AUDITS; DISPUTES

2.1 Information. The Grantor shall keep accurate records of tonnage, volume of Products, analyses of Products, weight, moisture, assays of payable metal content, and any other customary information or data relevant to the calculation of Net Smelter Returns (including, but not limited to, settlement sheets, receipts, invoices or other information provided by purchasers of Products from the Grantor).

2.2 Audits. Grantee has the right to audit the records and data related to the calculation of the NSR Royalty. The audit may only be performed once during any calendar year for the immediately preceding calendar year, by Grantee’s subject matter experts and a licensed certified public accounting firm selected by mutual consent of the Parties, provided that, if the Parties are unable to agree on a firm within thirty (30) days after Grantee’s written request to select a firm, the firm shall be appointed by the Reno, Nevada office of the American Arbitration Association upon the application of either Party, and performed according to standards of the American Institute of Certified Public Accountants. Any audit under this Section 2.2 may be conducted only after providing the Grantor ten (10) business days’ advance written notice that Grantee intends to conduct an audit and shall be completed within ninety (90) days after the end of the calendar year for which the audit is being conducted.

Each audit shall be conducted during the Grantor’s regular business hours and in a manner that does not materially interfere with the Grantor’s operations. Grantee shall pay all costs of any such audit, unless an audit reveals an underpayment of a royalty payment in an amount that is ten percent (10%) or more than the amount that Grantee was actually paid. In that case, the Grantor shall pay all costs of the audit. Any Grantor NSR Royalty calculation which Grantee does not audit within two (2) years of the applicable calendar quarter in accordance with this Section 2.2 will be deemed final and will not thereafter be subject to audit or challenge.

2.3 Disputes. Any controversy or claim, whether based on contract, tort, statute or other legal or equitable theory (including, but not limited to, any claim of fraud, misrepresentation or fraudulent inducement or any question of validity or effect of this Agreement, including this clause) arising out of or related to this Agreement (including amendments or extensions), or the breach or termination of this Agreement shall be settled by arbitration in accordance with the then current Rules of the American Arbitration Association (“AAA”) for Commercial Arbitration. The arbitration shall be held in Reno, Nevada and there shall be a single arbitrator. The arbitrator shall be chosen subject to the rules and procedures as provided by the AAA and shall have a minimum of ten (10) years’ experience in mining matters generally and in the subject matter of the dispute specifically. No person having a prior or existing attorney-client, business or family relationship with either of the Parties or their principal representatives or a financial interest in the dispute shall be qualified to act as arbitrator in accordance with this Agreement absent the express prior written consent of the Parties to this Agreement. The arbitrator shall determine the claims of the Parties and render a final award in accordance with the substantive law of the State of Nevada, excluding Nevada law regarding conflicts of laws. The arbitrator shall state the reasons for the award in writing. Except as required by applicable laws and regulations and the rules of any exchange on which the shares of the capital stock of the Grantor, Grantee and their affiliates are listed for trading (and then only after prior notice to the other Party), a Party shall not disclose the facts of the underlying dispute or the contents or results of the arbitration other than to their attorneys, accountants and consultants without the prior consent of the other Party. A judgment on the award may be entered by a court having jurisdiction in Nevada.

ARTICLE III

TRANSFER OF INTEREST

3.1 Transfer of Interest.

(a) The Grantor may Transfer all or any portion of its interest in this Agreement or in the NSR Properties (whether by asset sale, equity sale, merger, amalgamation, operation of law or otherwise); provided, however, that the Grantor shall assure that any instrument of Transfer shall provide for the transferee’s express agreement to assume, perform and be bound by the Grantor’s obligations under this Agreement. If the Grantor Transfers the whole of or an undivided interest in this Agreement, each transferee of an undivided interest shall separately pay to Grantee the NSR Royalty and perform the obligations under this Agreement accruing with respect to such transferee’s interest in and to the NSR Properties. If the Grantor Transfers the whole of or an undivided interest in this Agreement, liability for any default under or breach of any obligation under this Agreement shall rest exclusively upon the transferee of such interest in this Agreement which commits the default or breach (and the Grantor is released from any further liability hereunder); provided, however, that no Transfer shall relieve the Grantor, or its successors and assigns, of any liability or obligation under this Agreement with respect to the interest subject to such Transfer which accrues or arises before the effective date of the Transfer. If the Grantor Transfers ownership of a segregated portion of the NSR Properties, any default or breach by the transferee of such segregated portion of the NSR Properties shall not affect the rights of the Grantor in the segregated portion of the NSR Properties retained by it or the rights of the holders or owners of any other segregated portion of the NSR Properties. Notwithstanding any other provision of this Agreement, nothing shall preclude or limit Grantor’s unilateral and discretionary right to place a mortgage, trust deed or other lien upon its interest in the NSR Properties for financing purposes.

(b) The Grantee may Transfer all or any portion of its interest in this Agreement by providing notice to Grantor, including updated payment information, along with a copy of the signed Transfer documents. Such documents shall provide for the transferee’s express agreement to comply to all terms of this Agreement including, but not limited to, calculations of the NSR Royalty and the rights to inspect and audit the calculations.

ARTICLE IV

GENERAL

4.1 Right to Inspect. Once during each calendar year, Grantee or its authorized representative may, upon providing at least ten (10) business days’ advance written notice to the Grantor and subject to the confidentiality obligations described in this Agreement, inspect the Grantor’s mineral production operations on the NSR Properties. Any such inspection shall be at Grantee’s own cost and risk and shall be conducted in a manner that will not materially interfere with the Grantor’s operations. Grantee shall indemnify and hold harmless the Grantor and its Affiliates (including without limitation direct and indirect parent companies or owner), and its or their respective directors, officers, shareholders, members, employees, agents, and attorneys, from and against any losses and liabilities which may be imposed upon, asserted against, or incurred by, any of them by reason of injury to Grantee or its authorized representatives resulting from the exercise of the rights given herein.

4.2 No Development Covenant. The Grantor has no obligation to explore, to mine, to continue mining, or to mine any particular quantities of ores from the NSR Properties or to recover gold, silver, or other minerals therefrom. The Grantor’s only obligation is to pay the NSR Royalty to Grantee on any Product that is produced and sold from the NSR Properties subject to the terms and conditions in this Agreement. Grantee’s interest in the NSR Properties shall be solely that of a nonparticipating royalty holder and it shall have no rights to participate or influence management or decision-making regarding operations, if any, on the NSR Properties. Grantee expressly disclaims any implied covenants of diligence with respect to operations on the NSR Properties, including without limitation all exploration, development, mining, and processing operations.

4.3 Notices. All notices shall be in writing to the applicable address set forth below and shall be given by personal delivery, certified mail or recognized international overnight courier. All notices shall be effective and shall be deemed delivered on the date of delivery if delivered before 5:00 p.m. local destination time on a business day, otherwise on the next business day after delivery. Each Party will send a copy of their notice by email, as a courtesy, but the notice will not be valid until delivered in writing. Any notice delivered by email shall only be deemed to be official notice hereunder if the Party receiving such email specifically confirms receipt in writing.

To the Grantor:

c/o Mackay Precious Metals Inc.

Suite 405 - 375 Water Street

Vancouver, BC V6B 5C6

Attention: Darwin Green, CEO

E-mail: darwin@mackaycorp.com

with a copy to:

Maxis Law Corporation

Suite 1400 - 1050 West Pender Street,

Vancouver, BC V6E 3S7

Attention: Morgan Hay

Email: mhay@maxislaw.com

To Grantee:

Comstock Inc.

117 American Flat Road, PO Box 1118

Virginia City, NV 89440

Email: degasperis@comstockinc.com

Each Party may change its address from time to time by notice given in the manner described above.

4.4 Confidentiality. The Parties agree to keep confidential all information provided to it by the other Party under this Agreement and not to disclose any such information to any third party without the prior written consent of the other Party. This provision will not apply to information which otherwise comes into the public domain other than through the breach by a Party of its obligations under this provision. Confidential information received by a Party from the other Party may be disclosed (a) to an affiliate, employee, officer, agent or consultant of the Party (b) to a potential buyer of Grantee’s entire interest in the NSR Royalty (but only after obligating the third party to whom disclosure is being made to a written confidentiality agreement that binds such third party at least to the same extent Grantee is obligated under this Agreement, and providing a copy of the same to the Grantor), (c) to a potential buyer of Grantor’s interest in any of the NSR Properties or assignee of Grantor’s rights under this Agreement (but only after obligating the third party to whom disclosure is being made to a written confidentiality agreement that binds such third party at least to the same extent Grantor is obligated under this Agreement, and providing a copy of the same to the other Party), and (d) if and to the extent required in the ordinary course of events under any applicable law, regulation, court order, rule of any stock exchange or other legal requirement.

A Party shall not disclose pursuant to this Agreement any geological, engineering, or other data to any third party without disclosing the existence and nature of any disclaimers which accompany such data and the requirements of applicable law or regulation or rules of the applicable stock exchange for public reporting.

Nothing in this Agreement shall prevent the disclosure of confidential information delivered pursuant to this Agreement to the Parties’ directors, officers, lawyers, litigation consultants, litigation experts, accountants, auditors, lenders, insurers/reinsurers, regulators, or securities exchanges on which the securities of such Party or an Affiliate are listed or quoted, provided that the disclosure of the information is reasonably necessary to effectuate the terms of this Agreement, or is required for tax, financial reporting, stock exchange, or governmental compliance purposes.

4.5 Mining Practices. Subject to the provisions of Section 4.2 above, the Grantor shall conduct any mining operations on the NSR Properties in a miner-like fashion including, but not limited to Sections 4.6, 4.7, 4.8, and 4.9 below.

4.6 Reports. If Grantor commences the production of Products from the NSR Properties, then Grantor shall deliver to Grantee, on or before the sixtieth (60th) day after the end of each calendar year that such production continues, a summary report of all mining conducted by the Grantor on the NSR Properties for the previous year. Notwithstanding the foregoing, the Grantor shall not be required in its reports to disclose proprietary information or information concerning, or which might tend to reveal, processes, techniques or equipment which the Grantor is under a contractual obligation not to reveal.

4.7 Measurement Analysis. The Grantor shall measure ore, concentrates, minerals, and other material, grade, take and analyze samples in accordance with industry practice, and shall keep accurate records thereof as a basis for computing the NSR Royalty. These records shall be available for inspection by Grantee in accordance with Section 2.2 above.

4.8 Commingling. The Grantor will have the right to commingle ore, concentrates, minerals, and other material mined and removed from the properties from which Products are produced, with ore, concentrates, minerals, and other material mined and removed from other lands and properties; however, the Grantor shall calculate from representative samples the metal content, the average grade of the metal content, the moisture content thereof, and other measures as are customary and appropriate, and shall weigh (or calculate weight by volume) the material before commingling, in each case using any procedures accepted in the mining and metallurgical industry which it believes suitable for the type of mining and processing activity being conducted. In addition, comparable procedures may be used by the Grantor to apportion among the commingled materials all penalty and other charges and deductions, if any, imposed by the smelter, refiner, or purchaser of such material. The Grantor shall use the same procedures for each separate ore or other source before commingling. The Grantor shall retain such representative ore samples and the written records of assays, moisture content, weights (or volumes as the case may be) and the content and nature of penalty substances and any other measures made for not less than twelve (12) months after payment of the NSR Royalty with respect to such commingled ores from the NSR Properties. The Grantor shall deliver to Grantee a copy of the Grantor’s commingling plan not less than thirty (30) days before the Grantor commences commingling of minerals mined from lands and properties which are not burdened by or subject to the NSR Royalty.

4.9 Stockpiling. To the extent permitted by applicable federal, state and local laws, regulations and ordinances, the Grantor shall have the right to stockpile Products on the NSR Properties or on such other lands and places as the Grantor may elect, without the obligation to remove the Products from where stockpiled or to return them to the NSR Properties. The stockpiling of Products on other lands shall not be deemed a removal or shipment thereof requiring payment in respect of Grantee’s NSR Royalty. The Grantor shall have the right to stockpile on the NSR Properties without obligation to remove the same at any time, any ore, concentrates, minerals, and other material mined or produced by the Grantor from other lands. Grantee agrees to recognize the rights and interests of others in such ore, concentrates, minerals, and other material stockpiled on the NSR Properties, and to permit their removal by the Grantor or the owner of such ore, concentrates, minerals, and other material. The Grantor will maintain adequate records of the source, tonnage and grades of all stockpiles in order to properly account for NSR Royalties due to Grantee when valuable minerals are eventually produced from the stockpiled Products.

4.10 Real Property Interest; Recordation of Interest. The Grantor acknowledges and agrees that the NSR Royalty is a property right and creates an interest in the NSR Properties that runs with the land, and such interest shall be applicable to the Grantee and its successors and assigns of and to the NSR Properties; but the Parties also acknowledge that the NSR Royalty is a royalty only and is not the grant of cotenancy or joint ownership interest in any of the NSR Properties or any of the minerals therein, and that the NSR Royalty is a nonexecutive, nonparticipating and nonworking royalty interest. If any of the unpatented mining claims subject to this Agreement are converted to leases, licenses or other forms of tenure as a result of the amendment or repeal of the Mining Law of 1872, as amended, or for any other reason, all such amended and relocated unpatented mining claims or other tenures shall be subject to the terms of this Agreement. In such an event, the Parties shall execute and record an amendment of this Agreement to evidence the inclusion of such unpatented mining claims and tenures in this Agreement. Grantee, at its expense, shall be entitled to record a copy of this Agreement in the official records of Storey County and Lyon County, Nevada, and Grantor consents to such recording.

4.11 Maintenance of NSR Properties. Subject to the absolute right retained by the Grantor to amend, restake, or relocate all or any portion of the mining claims encompassed by the NSR Properties, the Grantor shall maintain the claims by timely performing all assessment work or paying claim maintenance fees as required by federal law and timely paying all assessments and taxes imposed on any and all of the NSR Properties and shall assure that title to such NSR Properties is not diminished or lost as a result of the Grantor’s failure to perform the foregoing obligations. Grantee acknowledges that the Grantor shall have the right to drop or not renew any of the unpatented mining claims encompassed by the NSR Properties, but Grantor shall not intentionally do so without the express written consent of Grantee, which consent shall not be unreasonably withheld or delayed, and in the event that the Grantor or its Affiliates restake the claims or stake additional claims covering any portion of the dropped claims within three (3) years thereafter, the Grantor’s obligations under this Agreement will apply to the restaked or additional claims.

ARTICLE V

MISCELLANEOUS

5.1 Amendment and Waiver. This Agreement may only be amended by an instrument in writing signed by the Parties. Except for waivers specifically provided for in this Agreement, rights under this Agreement may not be waived except by an instrument in writing signed by the Party to be charged with the waiver. The failure of a Party to insist on the strict performance of any provision of this Agreement or to exercise any right, power or remedy upon a breach of this Agreement will not constitute a waiver of any provision of this Agreement or limit the Party’s rights thereafter to enforce any provision or exercise any right.

5.2 Severability. If at any time any covenant or provision contained in this Agreement is deemed to be invalid or unenforceable, such covenant or provision shall be considered divisible and shall be deemed immediately amended and reformed to include only such portion of such covenant or provision that is valid and enforceable. Such covenant or provision, as so amended and reformed, shall be valid and binding as though the invalid or unenforceable portion had not been included in this Agreement. To the extent the NSR Royalty applies to any amendments or relocations of the unpatented mining claims subject to the NSR Royalty or to any rights or interests (including mineral rights) acquired in the federal public lands within the boundaries of the NSR Properties in accordance with the Mining Law of 1872, as from time-to-time amended, repealed, replaced or superseded, or any other federal law or regulation, including the conversion of any present interest in the unpatented mining claims comprising the NSR Properties to a lease, license, permit or other form of tenure (each an “Acquired Interest”), Grantee’s NSR Royalty rights in such Acquired Interest shall vest on the date of acquisition by the Grantor, and the Grantor’s successors in interest, as applicable, subject to the terms of this Agreement and the terms of the Purchase Agreement. It is the express intention of the Parties that the NSR Royalty in respect of any Acquired Interest shall vest in Grantee, and Grantee’s successors and assigns, as applicable, within a period of time that complies with the Rule Against Perpetuities (Uniform Act), NRS 111.103 et seq., as it may be amended from time-to-time. The Parties irrevocably release and waive the applicability of the Rule Against Perpetuities to the NSR Royalty and the Acquired Interest. The Grantor agrees and covenants, for itself and its successors and assigns, that it will not commence any action or arbitration proceeding to declare the NSR Royalty ineffective, invalid or void based on the Rule Against Perpetuities, and that it will not in any action or arbitration proceeding commenced by Grantee, or its successors and assigns, as applicable, assert as an affirmative defense against any claim for relief for enforcement of this Agreement or the Purchase Agreement that this Agreement or the Purchase Agreement is ineffective, invalid or void based on the Rule Against Perpetuities.

5.3 No Third-Party Beneficiaries. This Agreement will not confer any rights or remedies upon any Person other than the Parties and their respective successors and permitted assigns, except as otherwise expressly stated herein. Except to the extent specifically provided in this Agreement, it is for the sole benefit of the Parties and no other Person (including any creditor of the Parties) is intended to be a beneficiary of this Agreement or shall have any rights under this Agreement.

5.4 Entire Agreement. This Agreement, the Purchase Agreement and the documents referred to in the foregoing documents constitute the entire agreement between the Parties and supersede any prior understandings, agreements, or representations by or between the Parties, written or oral, to the extent they relate in any way to the subject matter hereof.

5.5 Headings. The subject headings of the Articles, Sections, and Subsections of this Agreement and the Schedules to this Agreement are included for purposes of convenience only, and shall not affect the construction or interpretation of any of their provisions.

5.6 Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Nevada without giving effect to any choice or conflicts of law provision or rule (whether of the State of Nevada or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Nevada.

5.7 Rules of Construction. Each Party acknowledges that it has been represented by counsel during the negotiation, preparation, and execution of this Agreement. Each such Party therefore waives the application of any law or rule of construction providing that ambiguities in an agreement or other document shall be construed against the drafter of the agreement or document.

5.8 Attorneys’ Fees. Except as otherwise specified herein, in the event of a dispute under this Agreement, the prevailing Party shall be entitled to payment of its reasonable attorneys’ fees and costs in arbitrating the dispute.

5.9 Currency. All statements of or references to dollar amounts in this Agreement are to lawful money of the United States.

5.10 No Joint Venture, Mining Partnership, Commercial Partnership. This Agreement shall not be construed to create, expressly or by implication, a joint venture, mining partnership, commercial partnership, or other partnership relationship, or fiduciary relationship, between the Parties.

5.11 Further Assurances. Each Party shall execute all such further instruments and documents and do all such further actions as may be necessary to effectuate the transactions contemplated in this Agreement, in each case at the cost and expense of the Party requesting such further document or action, unless expressly indicated otherwise. If conditions change by reason of acquisition, conveyances, assignments, or other matters relating to the title to, or description of, the estates comprising the NSR Properties, the Parties shall execute amendments of and to this Agreement and execute such corrective or additional documents as may be necessary to (i) reflect such changed conditions and/or (ii) clear or cure title, at the expense of the Party requesting such action. If pursuant to any amendment or supersession of the Mining Law of 1872, as amended, the Grantor is granted the right to convert its interest in the unpatented mining claims subject to this Agreement to a lease, license or permit, or other right or interest, and all such converted interests or rights shall be deemed to be part of the unpatented mining claims subject to this Agreement. Upon the grant or issuance of such converted interests or rights, the Parties shall execute and deliver an addendum to this Agreement, in recordable form, by which such converted interests or rights are made subject to this Agreement.

5.12 Parties in Interest. This Agreement shall inure to the benefit of the permitted successors and permitted assigns of the Parties, and shall be binding upon the successors and assigns of the Parties (whether or not permitted).

5.13 Counterparts. This Agreement may be executed in multiple counterparts, and all such counterparts taken together shall constitute the same document.

ARTICLE VI

DEFINITIONS

“Affiliate” means any Person that directly or indirectly Controls, is Controlled by, or is under common Control with, a Party.

“Control” used as a verb means, when used with respect to an entity, the ability, directly or indirectly through one or more intermediaries, to direct or cause the direction of the management and policies of such entity through (a) the legal or beneficial ownership of voting securities or membership interests; (b) the right to appoint managers, directors or corporate management; (c) contract; (d) operating agreement; (e) voting trust; or otherwise; and, when used with respect to an individual, means the actual or legal ability to control the actions of another, through family relationship, agency, contract, or otherwise; and “Control” used as a noun means an interest which gives the holder the ability to exercise any of the foregoing powers.

“Encumbrance” means any mortgage, deed of trust, security interest, pledge, lien, right of first refusal, right of first offer, other preferential right, profits interest, net profits interest, royalty interest, overriding royalty interest, conditional sale or title retention agreement, or other burdens of any nature affecting an interest in real or personal property.

“Net Smelter Returns” or “NSR” means all Revenues from the sale of Products produced from the NSR Properties, less Shipping Costs and Refining Costs pertaining to such Revenues for the applicable calendar quarter. The calculation of Net Smelter Returns shall be made in accordance with accounting principles and practices consistently applied in the mining industry in Nevada.

“Person” means a natural person, corporation, joint venture, partnership, limited liability partnership, limited partnership, limited liability limited partnership, limited liability company, trust, estate, business trust, association, governmental authority or other entity.

“Products” means (a) all materials mined or removed from the NSR Properties and sold prior to treatment, and (b) all concentrates, precipitates, refined metals and any other valuable minerals, extracted from the NSR Properties or derived therefrom.

“Refining Costs” means all costs and expenses of smelting and refining, including without limitation, all costs of assaying, sampling, custom smelting, and refining, and all independent representative and umpire charges, penalties, and deductions imposed or charged by the refinery or smelter, as the case may be. If smelting or refining is carried out in facilities owned or controlled by the Grantor or its Affiliates, then the Refining Costs shall be the amount the Grantor would have incurred if such smelting or refining were carried out at facilities not owned or controlled by the Grantor or its Affiliates then offering comparable services for comparable products on prevailing terms.

“Shipping Costs” means all costs and expenses of transporting, hauling, and delivering ore, concentrates, minerals, and other material from the NSR Properties to a smelter, refinery, or other point of sale, including without limitation, freight, trucking, insurance in transit, port charges, and handling fees. If shipping is carried out by the Grantor or its Affiliates, or by a carrier owned or controlled by the Grantor or its Affiliates, then the Shipping Costs shall be the amount the Grantor would have incurred if such shipping were carried out by an independent carrier not owned or controlled by the Grantor or its Affiliates then offering comparable services for comparable routes on prevailing terms.

“Revenues” means the sum of actual prices of Products received at the time of sale multiplied by the ounces of Products sold in the applicable period. If any Products are diverted by the Grantor for commemorative coinage or any other value-added use, the Revenue will be calculated using the spot price on a recognized exchange, on the date the Products are diverted. For the avoidance of doubt, Grantor shall have the right to mine amounts of Products reasonably necessary for sampling, assaying, metallurgical testing and evaluation of the mineral potential of the NSR Properties without incurring any obligation to make NSR Royalty payments; provided, however, that if Grantor sells any such Products, Grantor shall be required to pay the NSR Royalty on all such Products sold.

“Transfer” means any sale, grant, assignment, conveyance, Encumbrance, pledge, hypothecation, abandonment or other transfer.

[Signature page follows]

IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective Date.

COMSTOCK MINING LLC

By:

Name:

Title:

STATE OF

)

COUNTY OF

)

This instrument was acknowledged before me on ________________________________, by ____________________________ as ________________________ of Comstock Mining LLC, a Nevada limited liability company.

(Signature of Notarial Officer)

(Notary Stamp)

[Signature Page to Net Smelter Returns Royalty Deed and Agreement – 1 of 4]

COMSTOCK PROCESSING LLC

By:

Name:

Title:

STATE OF

)

COUNTY OF

)

This instrument was acknowledged before me on ________________________________, by ____________________________ as ________________________ of Comstock Processing LLC, a Nevada limited liability company.

(Signature of Notarial Officer)

(Notary Stamp)

[Signature Page to Net Smelter Returns Royalty Deed and Agreement – 2 of 4]

COMSTOCK EXPLORATION AND

DEVELOPMENT LLC

By:

Name:

Title:

STATE OF

)

COUNTY OF

)

This instrument was acknowledged before me on ________________________________, by ____________________________ as ________________________ of Comstock Exploration and Development LLC, a Nevada limited liability company.

(Signature of Notarial Officer)

(Notary Stamp)

[Signature Page to Net Smelter Returns Royalty Deed and Agreement – 3 of 4]

COMSTOCK INC.

By:

Name:

Title:

STATE OF

)

COUNTY OF

)

This instrument was acknowledged before me on ________________________________, by ____________________________ as ________________________ of Comstock Inc., a Nevada corporation.

(Signature of Notarial Officer)

(Notary Stamp)

[Signature Page to Net Smelter Returns Royalty Deed and Agreement – 4 of 4]

Schedule A –“NSR Properties”

Comstock Exploration and Development LLC

Fee Properties

Parcel No

Description

Current Owner

Type

Acres

County

Underlying NSR %

Underlying Royalty Owner

008-061-08

House/Comstock Lodes (surface)

Comstock Exploration and Development LLC

Fee

1.93

Lyon

None

008-091-02

Lot 276

Comstock Exploration and Development LLC

Fee

0.27

Lyon

None

008-091-07

Lot 286

Comstock Exploration and Development LLC

Fee

1.07

Lyon

None

008-091-09

Dayton Parcel

Comstock Exploration and Development LLC

Fee

92.76

Lyon

None

008-101-27

1505 Dayton Toll Rd

Comstock Exploration and Development LLC

Fee

3.50

Lyon

None

008-101-28

0 Dayton Toll Rd

Comstock Exploration and Development LLC

Fee

0.54

Lyon

None

016-111-07

Landfill

Comstock Exploration and Development LLC

Fee

51.05

Lyon

Decommissioning

016-121-10

Dondero 10

Comstock Exploration and Development LLC

Fee

2.90

Lyon

1.5%

Dondero

016-121-11

Dondero 11

Comstock Exploration and Development LLC

Fee

1.04

Lyon

1.5%

Dondero

016-121-12

Dondero 12

Comstock Exploration and Development LLC

Fee

0.08

Lyon

1.5%

Dondero

016-121-22

Dondero 22

Comstock Exploration and Development LLC

Fee

20.03

Lyon

1.5%

Dondero

016-121-23

Dondero 23

Comstock Exploration and Development LLC

Fee

20.00

Lyon

1.5%

Dondero

016-121-24

Dondero 24

Comstock Exploration and Development LLC

Fee

20.00

Lyon

1.5%

Dondero

016-121-25

Dondero 25

Comstock Exploration and Development LLC

Fee

20.00

Lyon

1.5%

Dondero

016-121-26

Wunderlich 1

Comstock Exploration and Development LLC

Fee

20.00

Lyon

None

016-121-27

Wunderlich 2

Comstock Exploration and Development LLC

Fee

20.00

Lyon

None

016-121-28

Wunderlich 3

Comstock Exploration and Development LLC

Fee

40.00

Lyon

None

016-121-29

Wunderlich 4

Comstock Exploration and Development LLC

Fee

60.00

Lyon

None

016-121-30

Wunderlich 5

Comstock Exploration and Development LLC

Fee

89.45

Lyon

None

016-121-32

Hway wedge

Comstock Exploration and Development LLC

Fee

3.00

Lyon

None

016-151-07

Wunderlich 6

Comstock Exploration and Development LLC

Fee

124.04

Lyon

None

016-151-52

S Comstock Tailings Par 4

Comstock Exploration and Development LLC

Fee

40.29

Lyon

None

016-151-55

S Comstock Tailings Par 1

Comstock Exploration and Development LLC

Fee

40.83

Lyon

None

A-1

Patent Properties

Parcel No

Description

Current Owner

Type

Acres

County

Underlying NSR %

Underlying Royalty Owner

008-091-09

Alhambra

Comstock Exploration and Development LLC

Patent

19.26

Lyon

None

008-091-09

Cherokee

Comstock Exploration and Development LLC

Patent

3.12

Lyon

None

008-091-09

Dayton

Comstock Exploration and Development LLC

Patent

11.02

Lyon

None

008-091-09

Kossuth

Comstock Exploration and Development LLC

Patent

37.10

Lyon

None

016-101-06m

Vulcan (minerals)

Comstock Exploration and Development LLC

Patent

17.73

Lyon

None

016-101-08

Comet

Comstock Exploration and Development LLC

Patent

13.39

Lyon

2.5%

Genco

016-101-08

Comet N Ext (Lyon)

Comstock Exploration and Development LLC

Patent

10.70

Lyon

2.5%

Genco

016-101-08

Lanzac

Comstock Exploration and Development LLC

Patent

14.36

Lyon

2.5%

Genco

016-111-02

Brodek Consolidated

Comstock Exploration and Development LLC

Patent

0.36

Lyon

2.5%

Genco

016-111-02

Golden Eagle

Comstock Exploration and Development LLC

Patent

8.95

Lyon

2.5%

Genco

016-111-02

Northern Belle

Comstock Exploration and Development LLC

Patent

8.90

Lyon

2.5%

Genco

016-111-02

Northern Belle No. 2

Comstock Exploration and Development LLC

Patent

6.02

Lyon

2.5%

Genco

016-111-03

Comet S Ext

Comstock Exploration and Development LLC

Patent

11.04

Lyon

2.5%

Genco

016-111-06

Andrew

Comstock Exploration and Development LLC

Patent

1.09

Lyon

Decommissioning

016-111-06

Eva

Comstock Exploration and Development LLC

Patent

18.93

Lyon

Decommissioning

016-111-06

Golden Pick

Comstock Exploration and Development LLC

Patent

21.54

Lyon

Decommissioning

016-111-06

Harkin G. and S.M.Go.

Comstock Exploration and Development LLC

Patent

19.47

Lyon

Decommissioning

016-111-06

Haywood No.2

Comstock Exploration and Development LLC

Patent

21.53

Lyon

Decommissioning

016-111-06

Monroe Mine

Comstock Exploration and Development LLC

Patent

21.16

Lyon

Decommissioning

016-111-06

Monroe No.2

Comstock Exploration and Development LLC

Patent

23.32

Lyon

Decommissioning

016-111-06

Nevada

Comstock Exploration and Development LLC

Patent

6.58

Lyon

Decommissioning

016-111-06

San Jose

Comstock Exploration and Development LLC

Patent

21.36

Lyon

Decommissioning

016-111-06

Santiago

Comstock Exploration and Development LLC

Patent

16.90

Lyon

Decommissioning

016-111-06

Santiago No.2

Comstock Exploration and Development LLC

Patent

20.73

Lyon

Decommissioning

016-111-06

Undine

Comstock Exploration and Development LLC

Patent

6.17

Lyon

Decommissioning

016-111-09

Amazon

Comstock Exploration and Development LLC

Patent

7.04

Lyon

None

016-111-09

Glasgow

Comstock Exploration and Development LLC

Patent

17.84

Lyon

None

016-111-10

Wonder Extension

Comstock Exploration and Development LLC

Patent

20.18

Lyon

None

016-111-10

Wonder Lode

Comstock Exploration and Development LLC

Patent

18.96

Lyon

None

016-121-01

Metropolitan

Comstock Exploration and Development LLC

Patent

9.29

Lyon

None

016-121-02

Diez-Senores (Gennessee)

Comstock Exploration and Development LLC

Patent

18.33

Lyon

None

016-121-03

Mammoth

Comstock Exploration and Development LLC

Patent

13.77

Lyon

None

016-121-05

Mooney & Whiteman

Comstock Exploration and Development LLC

Patent

6.19

Lyon

None

A-2

Parcel No

Description

Current Owner

Type

Acres

County

Underlying NSR %

Underlying Royalty Owner

016-151-22

Old Daney

Comstock Exploration and Development LLC

Patent

20.00

Lyon

None

119

Montezuma

Comstock Exploration and Development LLC

Patent

Lyon

None

1749

Silver Central

Comstock Exploration and Development LLC

Patent

Lyon

None

800-001-09

Green (Lyon)

Comstock Exploration and Development LLC

Patent

4.51

Storey,Lyon

2.15%

Obester 1

800-001-13

St. Louis (Lyon)

Comstock Exploration and Development LLC

Patent

0.60

Storey

2.15%

Obester 1

887

Carson

Comstock Exploration and Development LLC

Patent

Lyon

None

BLM Claims

BLM Serial

Description

Current Owner

Type

Acres

County

Underlying NSR %

Underlying Royalty Owner

NV101300161

Harlesk #3

Comstock Exploration and Development LLC

Placer

17.84

Lyon

None

NV101303566

Harlesk #10

Comstock Exploration and Development LLC

Placer

19.89

Lyon

None

NV101347207

Trio Claims

Comstock Exploration and Development LLC

Placer

58.64

Lyon

None

NV101348790

Harlesk #8

Comstock Exploration and Development LLC

Placer

17.38

Lyon

None

NV101357288

Oest Frac 1

Comstock Exploration and Development LLC

Lode

0.15

Lyon

None

NV101357289

Oest Frac 2

Comstock Exploration and Development LLC

Lode

0.28

Lyon

None

NV101357290

Oest Frac 3

Comstock Exploration and Development LLC

Lode

0.36

Lyon

None

NV101367246

Ghost 8

Comstock Exploration and Development LLC

Lode

2.32

Lyon

None

NV101367247

Ghost 9

Comstock Exploration and Development LLC

Lode

1.09

Lyon

None

NV101367248

Ghost 10

Comstock Exploration and Development LLC

Lode

9.71

Lyon

None

NV101367249

Ghost 11

Comstock Exploration and Development LLC

Lode

6.68

Lyon

None

NV101401239

SD Placer

Comstock Exploration and Development LLC

Placer

42.82

Lyon

None

NV101429450

Brandy

Comstock Exploration and Development LLC

Lode

16.54

Lyon

2.5%

Genco

NV101429451

Great Republic

Comstock Exploration and Development LLC

Lode

3.79

Lyon

2.5%

Genco

NV101429452

Homer

Comstock Exploration and Development LLC

Lode

0.14

Lyon

2.5%

Genco

NV101429453

Lilly

Comstock Exploration and Development LLC

Lode

8.30

Lyon

2.5%

Genco

NV101429454

OP-6

Comstock Exploration and Development LLC

Lode

13.60

Lyon

2.5%

Genco

NV101429455

OP-7

Comstock Exploration and Development LLC

Lode

1.53

Lyon

2.5%

Genco

NV101429849

Daney #1

Comstock Exploration and Development LLC

Lode

18.71

Lyon

None

NV101429850

Daney #2

Comstock Exploration and Development LLC

Lode

20.67

Lyon

None

NV101429851

Daney #3

Comstock Exploration and Development LLC

Lode

20.67

Lyon

None

NV101429852

Daney #4

Comstock Exploration and Development LLC

Lode

20.67

Lyon

None

A-3

BLM Serial

Description

Current Owner

Type

Acres

County

Underlying NSR %

Underlying Royalty Owner

NV101429853

Daney #5

Comstock Exploration and Development LLC

Lode

20.67

Lyon

None

NV101429854

Daney #6

Comstock Exploration and Development LLC

Lode

20.67

Lyon

None

NV101429855

Daney #7

Comstock Exploration and Development LLC

Lode

18.74

Lyon

None

NV101454316

Stangs Placer

Comstock Exploration and Development LLC

Placer

37.89

Lyon

None

NV101460289

Harlesk #7

Comstock Exploration and Development LLC

Placer

20.32

Lyon

None

NV101477390

Star Placer

Comstock Exploration and Development LLC

Placer

49.02

Lyon

None

NV101479029

Wedge

Comstock Exploration and Development LLC

Lode

0.00

Lyon

None

NV101490796

Harlesk #9

Comstock Exploration and Development LLC

Placer

18.83

Lyon

None

NV101493928

Mustang

Comstock Exploration and Development LLC

Placer

43.31

Lyon

None

NV101494889

Gold Star

Comstock Exploration and Development LLC

Placer

78.32

Lyon

None

NV101495212

Harlesk #5

Comstock Exploration and Development LLC

Placer

20.07

Lyon

None

NV101496754

Nugget Placer

Comstock Exploration and Development LLC

Placer

77.07

Lyon

None

NV101497565

Harlesk #4

Comstock Exploration and Development LLC

Placer

4.48

Lyon

None

NV101499834

Harlesk #6

Comstock Exploration and Development LLC

Placer

17.67

Lyon

None

NV101503790

Plum Fraction 1

Comstock Exploration and Development LLC

Lode

6.56

Lyon

None

NV101503791

Plum Fraction 2

Comstock Exploration and Development LLC

Lode

2.04

Lyon

None

NV101503792

Plum Fraction 3

Comstock Exploration and Development LLC

Lode

1.49

Lyon

None

NV101503799

Plum Fraction 12

Comstock Exploration and Development LLC

Lode

0.85

Lyon

None

NV101503843

Plum Fraction 14

Comstock Exploration and Development LLC

Lode

1.20

Lyon

None

NV101503844

Plum Fraction 15

Comstock Exploration and Development LLC

Lode

1.16

Lyon

None

NV101503845

Plum Fraction 16

Comstock Exploration and Development LLC

Lode

9.68

Lyon

None

NV101523873

Badger

Comstock Exploration and Development LLC

Placer

181.43

Lyon

None

NV101527237

DS Placer

Comstock Exploration and Development LLC

Placer

80.51

Lyon

None

NV101540562

Eldorado Lode

Comstock Exploration and Development LLC

Lode

20.66

Lyon

None

NV101551613

CK#1

Comstock Exploration and Development LLC

Lode

20.66

Lyon

None

NV101551614

CK#2

Comstock Exploration and Development LLC

Lode

20.66

Lyon

None

NV101551615

CK#3

Comstock Exploration and Development LLC

Lode

20.66

Lyon

None

NV101551616

CK#4

Comstock Exploration and Development LLC

Lode

20.66

Lyon

None

NV101551617

CK#5

Comstock Exploration and Development LLC

Lode

19.45

Lyon

None

NV101551618

CK#6

Comstock Exploration and Development LLC

Lode

20.45

Lyon

None

NV101551619

CK#7

Comstock Exploration and Development LLC

Lode

16.36

Lyon

None

NV101551620

CK#8

Comstock Exploration and Development LLC

Lode

14.06

Lyon

None

NV101551621

CK#9

Comstock Exploration and Development LLC

Lode

20.57

Lyon

None

A-4

BLM Serial

Description

Current Owner

Type

Acres

County

Underlying NSR %

Underlying Royalty Owner

NV101552801

CK#10

Comstock Exploration and Development LLC

Lode

3.36

Lyon

None

NV101552802

CK#11

Comstock Exploration and Development LLC

Lode

4.87

Lyon

None

NV101552803

CK#12

Comstock Exploration and Development LLC

Lode

20.66

Lyon

None

NV101552804

CK#13

Comstock Exploration and Development LLC

Lode

12.09

Lyon

None

NV101552805

CK#14

Comstock Exploration and Development LLC

Lode

20.66

Lyon

None

NV101552806

CK#15

Comstock Exploration and Development LLC

Lode

18.88

Lyon

None

NV101552807

CK#16

Comstock Exploration and Development LLC

Lode

13.48

Lyon

None

NV101552808

CK#17

Comstock Exploration and Development LLC

Lode

20.66

Lyon

None

NV101552809

CK#18

Comstock Exploration and Development LLC

Lode

11.71

Lyon

None

NV101552810

CK#19

Comstock Exploration and Development LLC

Lode

11.03

Lyon

None

NV101552811

CK#21

Comstock Exploration and Development LLC

Lode

17.45

Lyon

None

NV101552812

CK#22

Comstock Exploration and Development LLC

Lode

6.69

Lyon

None

NV101552813

CK#23

Comstock Exploration and Development LLC

Lode

20.66

Lyon

None

NV101552814

CK#24

Comstock Exploration and Development LLC

Lode

20.66

Lyon

None

NV101552815

CK#25

Comstock Exploration and Development LLC

Lode

17.26

Lyon

None

NV101552816

CK#26

Comstock Exploration and Development LLC

Lode

20.66

Lyon

None

NV101552817

CK#27

Comstock Exploration and Development LLC

Lode

14.65

Lyon

None

NV101552818

CK#28

Comstock Exploration and Development LLC

Lode

16.42

Lyon

None

NV101552819

CK#29

Comstock Exploration and Development LLC

Lode

20.66

Lyon

None

NV101552820

CK#30

Comstock Exploration and Development LLC

Lode

15.32

Lyon

None

NV101604606

Harlesk #2

Comstock Exploration and Development LLC

Placer

19.74

Lyon

None

NV101608323

EZ Placer

Comstock Exploration and Development LLC

Placer

57.82

Lyon

None

NV101608757

Stans Placer

Comstock Exploration and Development LLC

Placer

40.51

Lyon

None

NV101621590

Harlesk 100

Comstock Exploration and Development LLC

Placer

6.20

Lyon

None

NV101621591

Harlesk 101

Comstock Exploration and Development LLC

Placer

21.63

Lyon

None

NV101621592

Harlesk 102

Comstock Exploration and Development LLC

Placer

17.37

Lyon

None

NV101621593

Harlesk 103

Comstock Exploration and Development LLC

Placer

19.68

Lyon

None

NV101624489

Crystal Granite

Comstock Exploration and Development LLC

Lode

12.42

Lyon

Pedlar

NV101674900

Comstock Lode 142

Comstock Exploration and Development LLC

Lode

14.01

Lyon

None

NV101674902

Comstock Lode 144

Comstock Exploration and Development LLC

Lode

8.01

Lyon

None

NV101675875

Comstock Lode 146

Comstock Exploration and Development LLC

Lode

5.42

Lyon,Storey

None

NV101675877

Comstock Lode 148

Comstock Exploration and Development LLC

Lode

12.99

Lyon,Storey

None

NV101675879

Comstock Lode 150

Comstock Exploration and Development LLC

Lode

1.97

Lyon,Storey

None

A-5

BLM Serial

Description

Current Owner

Type

Acres

County

Underlying NSR %

Underlying Royalty Owner

NV101730825

Harlesk #1

Comstock Exploration and Development LLC

Placer

4.42

Lyon

None

NV101759633

Peach

Comstock Exploration and Development LLC

Lode

14.11

Lyon

None

NV101782736

Harley

Comstock Exploration and Development LLC

Placer

0.00

Lyon

None

NV101782737

Honey 1

Comstock Exploration and Development LLC

Placer

0.00

Lyon

None

NV101782738

Honey 2

Comstock Exploration and Development LLC

Placer

0.00

Lyon

None

NV101782739

Honey 3

Comstock Exploration and Development LLC

Placer

0.00

Lyon

None

NV101782740

Honey 4

Comstock Exploration and Development LLC

Placer

0.00

Lyon

None

NV101782741

Kapow

Comstock Exploration and Development LLC

Lode

0.00

Lyon

None

NV101782742

Ollie 2

Comstock Exploration and Development LLC

Placer

0.00

Lyon

None

NV101782743

Ollie 3

Comstock Exploration and Development LLC

Placer

0.00

Lyon

None

NV101782744

Ollie 4

Comstock Exploration and Development LLC

Placer

0.00

Lyon

None

NV101782745

Ollie 5

Comstock Exploration and Development LLC

Placer

0.00

Lyon

None

NV101782746

Ollie 6

Comstock Exploration and Development LLC

Placer

0.00

Lyon

None

NV101782747

Stagecoach

Comstock Exploration and Development LLC

Placer

0.00

Lyon

None

NV101782748

Thunder

Comstock Exploration and Development LLC

Placer

0.00

Lyon

None

NV101782749

Flash

Comstock Exploration and Development LLC

Placer

0.00

Lyon

None

NV101856402

Emma Nevada

Comstock Exploration and Development LLC

Lode

19.31

Lyon

None

NV105285784

Fifty Dollar Gold

Comstock Exploration and Development LLC

Lode

20.66

Lyon

None

NV105285785

Nevada

Comstock Exploration and Development LLC

Lode

20.66

Lyon

None

NV105285786

Mooney & Whitman Fraction

Comstock Exploration and Development LLC

Lode

20.66

Lyon

None

NV105285787

Rising Sun

Comstock Exploration and Development LLC

Lode

20.66

Lyon

None

NV105285788

Arrowhead

Comstock Exploration and Development LLC

Lode

20.66

Lyon

None

NV105285789

Nevada #3

Comstock Exploration and Development LLC

Lode

20.66

Lyon

None

NV105285790

Nevada #2

Comstock Exploration and Development LLC

Lode

20.66

Lyon

None

NV105285791

Mooney & Whitman Extension

Comstock Exploration and Development LLC

Lode

20.66

Lyon

None

A-6

Comstock Mining LLC

Fee Properties

Parcel No

Description

Current Owner

Type

Acres

County

Underlying NSR %

Underlying Royalty Owner

002-112-02

Lot 40

Comstock Mining LLC

Fee

1.64

Storey

None

002-112-02

Lot 41

Comstock Mining LLC

Fee

1.96

Storey

None

002-112-02

Lot 42

Comstock Mining LLC

Fee

1.59

Storey

None

002-122-02

D-8 Lot 47-50 & 52

Comstock Mining LLC

Fee

3.44

Storey

None

002-141-03

Lot 33

Comstock Mining LLC

Fee

1.93

Storey

None

002-141-07

2586 Keystone Circle Vacant Lot

Comstock Mining LLC

Fee

1.25

Storey

None

002-141-15

Lot 27 D

Comstock Mining LLC

Fee

14.62

Storey

None

002-141-16

Lot 30

Comstock Mining LLC

Fee

2.97

Storey

None

002-141-16

Lot 31

Comstock Mining LLC

Fee

0.86

Storey

None

002-141-16

Lot 32, Pt Lot 33

Comstock Mining LLC

Fee

5.87

Storey

None

002-142-01

Lot 53-54, N 1/2 Lot 55

Comstock Mining LLC

Fee

1.46

Storey

None

002-142-03

Lot 57

Comstock Mining LLC

Fee

1.49

Storey

None

002-151-01

Lot 34

Comstock Mining LLC

Fee

1.80

Storey

None

002-161-01

Lot 37

Comstock Mining LLC

Fee

0.37

Storey

None

002-161-01

Lot 38

Comstock Mining LLC

Fee

0.32

Storey

None

002-161-01

Lot 39

Comstock Mining LLC

Fee

0.79

Storey

None

002-161-01

Lot 40

Comstock Mining LLC

Fee

0.23

Storey

None

002-161-01

Lot 41

Comstock Mining LLC

Fee

0.23

Storey

None

002-161-01

Lot 42

Comstock Mining LLC

Fee

1.18

Storey

None

002-161-01

Lot 43

Comstock Mining LLC

Fee

0.69

Storey

None

002-161-01

Lot 44

Comstock Mining LLC

Fee

0.21

Storey

None

002-161-01

Lot 45

Comstock Mining LLC

Fee

0.19

Storey

None

002-161-01

Lot 46

Comstock Mining LLC

Fee

1.72

Storey

None

002-121-01

Lot 16

Comstock Mining LLC

Fee

0.56

Storey

Mackay

002-121-01

Lot 17

Comstock Mining LLC

Fee

2.58

Storey

Mackay

002-121-01

Lot 19

Comstock Mining LLC

Fee

2.01

Storey

Mackay

002-121-01

Lot 20

Comstock Mining LLC

Fee

0.38

Storey

Mackay

002-121-01

Lot 21

Comstock Mining LLC

Fee

0.27

Storey

Mackay

002-121-01

Lot 22

Comstock Mining LLC

Fee

0.59

Storey

Mackay

002-122-01

D-8 Lot 43

Comstock Mining LLC

Fee

1.68

Storey

Mackay

A-7

Parcel No

Description

Current Owner

Type

Acres

County

Underlying NSR %

Underlying Royalty Owner

002-122-01

D-8 Lot 43.5

Comstock Mining LLC

Fee

0.08

Storey

Mackay

002-122-01

D-8 Lot 44

Comstock Mining LLC

Fee

1.24

Storey

Mackay

002-122-01

D-8 Lot 45

Comstock Mining LLC

Fee

0.76

Storey

Mackay

002-122-01

D-8 Lot 46

Comstock Mining LLC

Fee

0.57

Storey

Mackay

002-131-01

Lot 51

Comstock Mining LLC

Fee

25.76

Storey

None

002-142-02

Lot 56, S 40’ Lot 55

Comstock Mining LLC

Fee

0.44

Storey

Mackay

002-151-02

Lot 36

Comstock Mining LLC

Fee

4.49

Storey

Mackay

002-151-05

Lot 35

Comstock Mining LLC

Fee

0.56

Storey

Mackay

Patent Properties

Parcel No

Description

Current Owner

Type

Acres

County

Underlying NSR %

Underlying Royalty Owner

800-000-91

Niagara (surface)

Comstock Mining LLC

Patent

2.63

Storey

Mackay/Donovan

800-000-92

South Comstock

Comstock Mining LLC

Patent

12.12

Storey,Lyon

Mackay/Donovan

800-000-93

Tarto

Comstock Mining LLC

Patent

0.79

Storey

1.5%

Donovan

800-000-94

Hartford

Comstock Mining LLC

Patent

15.04

Storey

1.5%

Donovan

800-000-95

Succor

Comstock Mining LLC

Patent

4.79

Storey

1.5%

Donovan

800-000-96

Olympia

Comstock Mining LLC

Patent

5.62

Storey

1.5%

Donovan

800-000-97

Hardluck

Comstock Mining LLC

Patent

6.20

Storey

1.5%

Donovan

800-000-98

Friendship

Comstock Mining LLC

Patent

4.54

Storey

1.5%

Donovan

800-000-99

Brown

Comstock Mining LLC

Patent

2.82

Storey

1.5%

Donovan

800-001-08

St. Louis

Comstock Mining LLC

Patent

6.78

Storey

2.15%

Obester 1

800-001-09

Green

Comstock Mining LLC

Patent

6.27

Storey,Lyon

2.15%

Obester 1

800-001-11

Echo

Comstock Mining LLC

Patent

6.92

Storey

2.15%

Obester 1

800-001-12

Lucerne

Comstock Mining LLC

Patent

8.37

Storey

2.15%

Obester 1

800-002-71

Billie the Kid

Comstock Mining LLC

Patent

15.97

Storey,Lyon

2.15%

Obester 1

800-002-72

Comet N Ext

Comstock Mining LLC

Patent

1.78

Storey

2.5%

Genco

800-000-77

South Comstock (surface)

Comstock Mining LLC

Patent

12.12

Storey,Lyon

Mackay/Donovan

800-000-78

Holman

Comstock Mining LLC

Patent

8.87

Storey

Mackay

800-000-79

Niagara

Comstock Mining LLC

Patent

2.63

Storey

Mackay/Donovan

800-000-80

White

Comstock Mining LLC

Patent

11.89

Storey

Mackay

800-000-81

Cliffhouse

Comstock Mining LLC

Patent

16.88

Storey/Lyon

Mackay

800-000-82

Black Bird

Comstock Mining LLC

Patent

11.02

Storey

Mackay

A-8

Parcel No

Description

Current Owner

Type

Acres

County

Underlying NSR %

Underlying Royalty Owner

800-000-83

South Alamo

Comstock Mining LLC

Patent

9.41

Storey

Mackay

800-000-84

East Alamo Ledge

Comstock Mining LLC

Patent

11.95

Storey

Mackay

800-000-85

Corey Jay Boer

Comstock Mining LLC

Patent

7.41

Storey

Mackay

800-000-86

Bells Hill (Lager Beer #1)

Comstock Mining LLC

Patent

3.96

Storey

Mackay

800-000-86

German (Lager Beer #2)

Comstock Mining LLC

Patent

3.42

Storey

Mackay

800-000-87

Sebastopol

Comstock Mining LLC

Patent

0.75

Storey

Mackay

800-000-88

Wedge

Comstock Mining LLC

Patent

1.27

Storey

Mackay

800-000-90

Overland

Comstock Mining LLC

Patent

0.51

Storey

Mackay

800-001-14

Justice

Comstock Mining LLC

Patent

19.22

Storey

Mackay

800-001-15

Woodville

Comstock Mining LLC

Patent

5.32

Storey

Mackay

800-001-16

Keystone Comstock

Comstock Mining LLC

Patent

12.12

Storey

Mackay

800-001-17

Memphis

Comstock Mining LLC

Patent

13.04

Storey

Mackay

800-001-18

Chonta Lode

Comstock Mining LLC

Patent

7.50

Storey

Mackay

800-001-19

Front Lode N

Comstock Mining LLC

Patent

1.62

Storey

Mackay

800-001-19

Front Lode S

Comstock Mining LLC

Patent

8.79

Storey

Mackay

BLM Claims

BLM Serial

Description

Current Owner

Type

Acres

County

Underlying NSR %

Underlying Royalty Owner

NV101357279

KC Frac

Comstock Mining LLC

Lode

0.09

Storey

None

NV101357280

Arastr Frac 1

Comstock Mining LLC

Lode

0.09

Storey

None

NV101357281

Arastr Frac 2

Comstock Mining LLC

Lode

0.07

Storey

None

NV101357282

Arastr Frac 3

Comstock Mining LLC

Lode

0.02

Storey

None

NV101357283

Arastr Frac 4

Comstock Mining LLC

Lode

0.22

Storey

None

NV101357284

Arastr Frac 5

Comstock Mining LLC

Lode

0.02

Storey

None

NV101357285

Arastr Frac 6

Comstock Mining LLC

Lode

0.01

Storey

None

NV101357286

Arastr Frac 7

Comstock Mining LLC

Lode

0.00

Storey

None

NV101357287

DG Frac

Comstock Mining LLC

Lode

0.55

Storey,Lyon

None

NV101366420

Ghost 1

Comstock Mining LLC

Lode

20.67

Storey

None

NV101366421

Ghost 2

Comstock Mining LLC

Lode

20.67

Storey

None

NV101366422

Ghost 3

Comstock Mining LLC

Lode

15.52

Storey

None

NV101367242

Ghost 4

Comstock Mining LLC

Lode

16.94

Storey

None

NV101367243

Ghost 5

Comstock Mining LLC

Lode

12.00

Storey

None

A-9

BLM Serial

Description

Current Owner

Type

Acres

County

Underlying NSR %

Underlying Royalty Owner

NV101367244

Ghost 6

Comstock Mining LLC

Lode

13.35

Storey

None

NV101367245

Ghost 7

Comstock Mining LLC

Lode

8.29

Storey,Lyon

None

NV101405655

Hartford Lucerne Fraction

Comstock Mining LLC

Lode

0.82

Storey

1.5%

Donovan

NV101451968

Cliff House Fraction

Comstock Mining LLC

Lode

2.69

Storey

1.5%

Donovan

NV101455557

Green St. Louis Fraction

Comstock Mining LLC

Lode

3.04

Storey,Lyon

1.5%

Donovan

NV101477668

New Deal Fraction

Comstock Mining LLC

Lode

3.84

Storey

1.5%

Donovan

NV101478571

Vindicator #8

Comstock Mining LLC

Lode

6.21

Storey,Lyon

1.5%

Donovan

NV101479878

S Comstock St Louis

Comstock Mining LLC

Lode

0.57

Storey

1.5%

Donovan

NV101494533

Echo St Louis Fraction

Comstock Mining LLC

Lode

0.25

Storey

1.5%

Donovan

NV101503793

Plum Fraction 6

Comstock Mining LLC

Lode

0.40

Storey

None

NV101503794

Plum Fraction 7

Comstock Mining LLC

Lode

0.04

Storey

None

NV101503795

Plum Fraction 8

Comstock Mining LLC

Lode

0.18

Storey

None

NV101503796

Plum Fraction 9

Comstock Mining LLC

Lode

1.68

Storey

None

NV101503797

Plum Fraction 10

Comstock Mining LLC

Lode

5.19

Storey

None

NV101503798

Plum Fraction 11

Comstock Mining LLC

Lode

0.55

Storey

None

NV101503800

Plum Fraction 13

Comstock Mining LLC

Lode

0.40

Storey,Lyon

None

NV101506901

Justice Lucerne Fraction

Comstock Mining LLC

Lode

1.61

Storey

1.5%

Donovan

NV101508254

Justice Woodville Fraction

Comstock Mining LLC

Lode

3.08

Storey

1.5%

Donovan

NV101516974

Comstock Lode 169

Comstock Mining LLC

Lode

1.37

Storey

None

NV101516975

Comstock Lode 172

Comstock Mining LLC

Lode

12.44

Storey

None

NV101516979

Comstock Lode 176

Comstock Mining LLC

Lode

15.12

Storey

None

NV101526925

Hartford St. Louis Fraction

Comstock Mining LLC

Lode

1.88

Storey

1.5%

Donovan

NV101527003

Hartford South Extension

Comstock Mining LLC

Lode

1.49

Storey

1.5%

Donovan

NV101575861

Lee #8

Comstock Mining LLC

Lode

3.88

Storey

None

NV101575862

Lee #9

Comstock Mining LLC

Lode

14.60

Storey

None

NV101621536

Comstock 119

Comstock Mining LLC

Lode

3.65

Storey

None

NV101621537

Comstock 120

Comstock Mining LLC

Lode

1.49

Storey

None

NV101621976

Comstock 125

Comstock Mining LLC

Lode

15.20

Storey

None

NV101621977

Comstock 126

Comstock Mining LLC

Lode

2.96

Storey

None

NV101621978

Comstock 127

Comstock Mining LLC

Lode

6.73

Storey

None

NV101621979

Comstock 128

Comstock Mining LLC

Lode

1.28

Storey

None

NV101653069

Plum

Comstock Mining LLC

Lode

13.33

Storey

None

NV101655307

Omaha Fraction #1

Comstock Mining LLC

Lode

6.99

Storey

None

A-10

BLM Serial

Description

Current Owner

Type

Acres

County

Underlying NSR %

Underlying Royalty Owner

NV101655308

Omaha Fraction #2

Comstock Mining LLC

Lode

0.98

Storey

None

NV101655309

Omaha Fraction #3

Comstock Mining LLC

Lode

20.67

Storey

None

NV101655310

Omaha Fraction #4

Comstock Mining LLC

Lode

0.20

Storey

None

NV101655927

Omaha Fraction #5

Comstock Mining LLC

Lode

0.23

Storey

None

NV101655928

Omaha Fraction #6

Comstock Mining LLC

Lode

1.88

Storey

None

NV101655929

Omaha Fraction #7

Comstock Mining LLC

Lode

1.01

Storey

None

NV101655930

Omaha Fraction #8

Comstock Mining LLC

Lode

0.17

Storey

None

NV101655931

Omaha Fraction #9

Comstock Mining LLC

Lode

3.23

Storey

None

NV101655932

Omaha Fraction #10

Comstock Mining LLC

Lode

3.77

Storey

None

NV101655938

Omaha Fraction #18

Comstock Mining LLC

Lode

1.34

Storey

None

NV101673942

Comstock Lode 119

Comstock Mining LLC

Lode

18.05

Storey

None

NV101673943

Comstock Lode 120

Comstock Mining LLC

Lode

0.39

Storey

None

NV101751613

Big Mike

Comstock Mining LLC

Lode

18.03

Storey

1.5%

Donovan

NV101824433

Lee #5

Comstock Mining LLC

Lode

1.49

Storey

None

NV101824434

Lee #2

Comstock Mining LLC

Lode

19.10

Storey

None

NV101824435

Lee #3

Comstock Mining LLC

Lode

4.55

Storey

None

NV101828564

Comstock #1

Comstock Mining LLC

Lode

12.99

Storey

None

NV101828565

Comstock #2

Comstock Mining LLC

Lode

13.33

Storey

None

NV101828566

Comstock #3

Comstock Mining LLC

Lode

7.36

Storey

None

NV101828571

Comstock #12

Comstock Mining LLC

Lode

20.66

Storey

None

NV101828572

Comstock #13

Comstock Mining LLC

Lode

16.54

Storey

None

NV101828576

Comstock #17

Comstock Mining LLC

Lode

17.37

Storey

None

NV101828577

Comstock #18

Comstock Mining LLC

Lode

13.01

Storey

None

A-11

Comstock Processing LLC

Fee Properties

Parcel No

Description

Current Owner

Type

Acres

County

Underlying NSR %

Underlying Royalty Owner

004-331-08

Texas

Comstock Processing LLC

Fee

40.00

Storey

None

004-331-19

Baltimore Patent Homesite

Comstock Processing LLC

Fee

8.95

Storey

None

004-331-22

Salzwimmer 79 Acres

Comstock Processing LLC

Fee

79.61

Storey

None

004-331-27

Salzwimmer House & “Barn”

Comstock Processing LLC

Fee

11.01

Storey

None

004-331-28

Salzwimmer House & “Barn”

Comstock Processing LLC

Fee

3.47

Storey

None

004-331-36

American Flat Process Site

Comstock Processing LLC

Fee

76.84

Storey

None

004-331-37

American Flat Process Site

Comstock Processing LLC

Fee

4.66

Storey

None

004-331-40

Texas

Comstock Processing LLC

Fee

134.52

Storey

None

016-091-33

Texas

Comstock Processing LLC

Fee

31.85

Lyon

None

Patent Properties

Parcel No

Description

Current Owner

Type

Acres

County

Underlying NSR %

Underlying Royalty Owner

800-002-06

Baltimore Patent Pcl 1

Comstock Processing LLC

Patent

8.95

Storey

None

800-002-10

Ledge No 2

Comstock Processing LLC

Patent

10.20

Storey

None

800-002-22

Baltimore Patent Pcl 3

Comstock Processing LLC

Patent

9.00

Storey

None

800-002-38

Baltimore Patent Pcl 2

Comstock Processing LLC

Patent

8.94

Storey

None

800-002-45

Baltimore Patent Pcl 4

Comstock Processing LLC

Patent

7.53

Storey

None

BLM Claims

BLM Serial

Description

Current Owner

Type

Acres

County

Underlying NSR %

Underlying Royalty Owner

NV101490197

CMI MillSite #1

Comstock Processing LLC

Mill

0.38

Storey

None

NV101621980

Comstock 129

Comstock Processing LLC

Lode

20.67

Storey

None

NV101621981

Comstock 130

Comstock Processing LLC

Lode

20.67

Storey

None

NV101621982

Comstock 131

Comstock Processing LLC

Lode

20.67

Storey

None

NV101621983

Comstock 132

Comstock Processing LLC

Lode

20.67

Storey

None

NV101621984

Comstock 133

Comstock Processing LLC

Lode

20.67

Storey

None

NV101621985

Comstock 134

Comstock Processing LLC

Lode

20.67

Lyon,Storey

None

NV101621986

Comstock 135

Comstock Processing LLC

Lode

20.67

Lyon,Storey

None

NV101621987

Comstock 136

Comstock Processing LLC

Lode

20.67

Storey,Lyon

None

A-12

BLM Serial

Description

Current Owner

Type

Acres

County

Underlying NSR %

Underlying Royalty Owner

NV101622001

Comstock 137

Comstock Processing LLC

Lode

20.67

Storey,Lyon

None

NV101622002

Comstock 138

Comstock Processing LLC

Lode

20.67

Storey,Lyon

None

NV101622003

Comstock 139

Comstock Processing LLC

Lode

14.36

Storey

None

NV101622004

Comstock 140

Comstock Processing LLC

Lode

18.34

Storey

None

NV101622005

Comstock 141

Comstock Processing LLC

Lode

20.67

Storey

None

NV101622006

Comstock 142

Comstock Processing LLC

Lode

20.67

Storey

None

NV101673944

Comstock Lode 121

Comstock Processing LLC

Lode

6.80

Storey

None

NV101673945

Comstock Lode 122

Comstock Processing LLC

Lode

17.93

Storey

None

NV101673946

Comstock Lode 123

Comstock Processing LLC

Lode

3.79

Storey

None

NV101673947

Comstock Lode 124

Comstock Processing LLC

Lode

20.66

Storey

None

NV101674883

Comstock Lode 125

Comstock Processing LLC

Lode

13.54

Storey

None

NV101674884

Comstock Lode 126

Comstock Processing LLC

Lode

20.69

Storey

None

NV101674885

Comstock Lode 127

Comstock Processing LLC

Lode

14.49

Storey

None

NV101674886

Comstock Lode 128

Comstock Processing LLC

Lode

9.95

Storey

None

NV101674887

Comstock Lode 129

Comstock Processing LLC

Lode

2.42

Storey

None

NV101674888

Comstock Lode 130

Comstock Processing LLC

Lode

0.76

Storey

None

NV101674889

Comstock Lode 131

Comstock Processing LLC

Lode

1.64

Storey

None

NV101674890

Comstock Lode 132

Comstock Processing LLC

Lode

6.91

Storey

None

NV101674891

Comstock Lode 133

Comstock Processing LLC

Lode

15.84

Storey

None

NV101674892

Comstock Lode 134

Comstock Processing LLC

Lode

14.92

Storey

None

NV101674893

Comstock Lode 135

Comstock Processing LLC

Lode

20.67

Storey

None

NV101674894

Comstock Lode 136

Comstock Processing LLC

Lode

18.57

Storey

None

NV101674895

Comstock Lode 137

Comstock Processing LLC

Lode

20.67

Storey

None

NV101674896

Comstock Lode 138

Comstock Processing LLC

Lode

9.10

Storey

None

NV101674897

Comstock Lode 139

Comstock Processing LLC

Lode

20.67

Storey

None

NV101674898

Comstock Lode 140

Comstock Processing LLC

Lode

6.86

Storey

None

NV101674899

Comstock Lode 141

Comstock Processing LLC

Lode

20.67

Storey

None

NV101674901

Comstock Lode 143

Comstock Processing LLC

Lode

20.66

Storey

None

NV101674903

Comstock Lode 145

Comstock Processing LLC

Lode

20.67

Storey

None

NV101675876

Comstock Lode 147

Comstock Processing LLC

Lode

20.67

Storey

None

NV101675878

Comstock Lode 149

Comstock Processing LLC

Lode

20.47

Storey

None

NV101675880

Comstock Lode 151

Comstock Processing LLC

Lode

14.57

Storey

None

NV101844435

MS 38 B

Comstock Processing LLC

Lode

1.82

Storey

None

A-13

BLM Serial

Description

Current Owner

Type

Acres

County

Underlying NSR %

Underlying Royalty Owner

NV101844436

MS 38 C

Comstock Processing LLC

Lode

6.30

Storey

None

NV101844437

MS 38 D

Comstock Processing LLC

Lode

4.38

Storey

None

NV101844438

MS 38 E

Comstock Processing LLC

Lode

9.90

Storey

None

A-14

FILING DETAILS