Note 12 - Commitments and Contingencies Mining Claims As part of our acquisition of the Silver District properties from Columbus Exploration, we assumed the Red Cloud lease whose initial term expires in August 2026. The lease requires annual advance minimum royalty payments of $10,000 through the term of the lease due on the annual anniversary of the agreement. The lease is also subject to a 2% net production royalty to be paid to the lessor from the sale of precious metals extracted from the leased property. In order to maintain the BLM lode and mill site claims, annual payments are required before the end of August of each year. Payments are also due annually on two patented claims we leased in July 2015 and on our Arizona State Minerals Exploration Permit. As of March 31, 2018, all of these claims and leases are in good standing except for the two patented claims leased in 2015. Leases As part of our acquisition of MV2 in Mexico, we assumed the following leases payable in local currency as follows: a) Ejido S.D.A, 10 year lease, 6 hectares, executed January 2016, expires December 2025. Annual payments 25,000 MX pesos. Renewable for 10 years. b) Silverio Medina Ozuna, 3 year lease, 1 hectare, executed May 2017, expires April 2020. Annual payments 15,000 MX pesos. Renewable for 3 year periods. c) Silverio Medina Ozuna, 10 year lease, 2 hectares, executed May 2010, expires April 2020. Payment $100,000 MX pesos paid in advance at lease execution. Renewable for 10 years. The minimum future payments due on these leases are as follows for the next five years and thereafter and have been translated to US dollars using an exchange rate at March 31, 2018 of 18.22 MX pesos to US dollars: Payment Due Date Minimum Due ($) 2018 2,196 2019 2,196 2020 1,372 2021 1,372 2022 and thereafter 5,490 Other contractual arrangements On November 1, 2016 the Company executed a Finders Agreement (Agreement), with a third party consultant to introduce the Company to potential investors beginning with its November 2016 private placement