ATHENA SILVER CORPORATION (OTCMKTS:AHNR) Files An 8-K Entry into a Material Definitive Agreement
ITEM 1.01
On April 28, 2020, Athena Silver Corporation (the “Company”) through its wholly-owned subsidiary Athena Minerals Inc. entered into Agreement to Grant a 1% Net Smelter Return (NSR) on all Silver Produced from Langtry Mine (the “NSR Agreement”) with Bruce and Elizabeth Strachan, Trustees of the Bruce and Elizabeth Strachan Revocable Living Trust dated July 25, 2007 (“Strachan”) whereby Strachan has agreed to grant to Athena Minerals, Inc. a 1% net smelter return on the Langtry Mine in California, conditioned upon the completion of the Company’s payment obligation of $150,000 to Mobil Exploration (“Mobil”) in exchange for Mobil agreeing to reduce its net smelter royalty to 2% to a 2015 agreement between the Company and Mobil. Athena is making annual payments of $10,000 to Mobil and has a remaining balance outstanding of $100,000. Athena’s 1% NSR on Langtry will not vest until the payment obligation to Mobil has been completed. A copy of the NSR Agreement is filed herewith as Exhibit 10.1.
On April 28, 2020, Athena Silver Corporation and its wholly-owned subsidiary Athena Minerals, Inc. (together “Athena”) entered into Agreement to Terminate Lease with Option to Buy dated March 10, 2016 with Bruce and Elizabeth Strachan, Trustees of the Bruce and Elizabeth Strachan Revocable Living Trust dated July 25, 2007 (“Strachan”), including any and all amendments thereto dated April 28, 2020 (the “Termination Agreement”) with respect to the Langtry Mine in California. A copy of the Termination Agreement is filed herewith as Exhibit 10.2
| 10.1 | NSR Agreement |
| 10.2 | Termination Agreement |
ATHENA SILVER CORP Exhibit
EX-10.1 2 athena_ex1001.htm NSR AGREEMENT Exhibit 10.1 AGREEMENT TO GRANT A 1% NET SMELTER RETURN (NSR) ROYALTY ON ALL SILVER PRODUCED FROM THE LANGTRY MINE BETWEEN: GRANTEE: ATHENA MINERALS INC. HEREINAFTER REFERRED TO AS THE “GRANTEE” OR AS “ATHENA” AND: GRANTOR: BRUCE D. STRACHAN AND ELIZABETH K. STRACHAN AS TRUSTEES OF THE BRUCE AND ELIZABETH STRACHAN REVOCABLE TRUST DATED 7-25-2007 HERINAFTER REFERRED TO AS THE “GRANTOR” OR AS THE “STRACHAN TRUST” SUBJECT PROPERTY: (HEREINAFTER REFERRED TO AS THE “LANGTRY MINE”) ASSESSOR’S PARCEL #0517-251-05-0-000 SAN BERNARDINO COUNTY,…
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About ATHENA SILVER CORPORATION (OTCMKTS:AHNR)
Athena Silver Corporation is an exploration-stage company. The Company is engaged in the acquisition and exploration of mineral resources. It is focused on evaluation of the Langtry Property, including the acquisition of additional mineral rights and additional exploration, development and permitting activities. The Langtry Property is located in the Calico Mining District, San Bernardino County, California. The Langtry Project covers approximately 1,200 acres and consists of over 20 lode mining claims and over 40 lode mining claims. The Lease/Option also includes over two mining claims in the Calico Mining District known as the Lilly #10 and Quad Deuce XIII. It has approximately 160 acres of land (Castle Rock), which is located in the eastern Calico Mining District, San Bernardino County, California. The Company’s subsidiary, Athena Minerals, Inc., owns and operates its mining interests. It has approximately 660 acres of land (Section 13 Property) near the Lava Beds Mining District.