NOTE 8  COMMITMENTS AND CONTINGENCIES Operating Leases The Company leases its corporate facility and certain office equipment under operating leases with expiration dates through 2021. In April 2015, the Company executed a new operating lease agreement for its corporate facility in Lakewood, Colorado. The lease is for a period of 39 months commencing in May 2015 and expiring in July 2018. During the second quarter of 2018, the Company executed an amendment to the office lease agreement extending the lease period an additional 39 months through October 2021. The Company recognized total deferred rent of $2,578 in connection with this lease agreement as of June 30, 2018. Rent expense was $12,333 and $12,619 for the six months ended June 30, 2018 and 2017, respectively. Future minimum rental payments required under operating leases are as follows: 2018 $ 18,247 2019 56,099 2020 57,194 2021 42,888 $ 174,428 Mining Leases The Company leases certain mineral properties and water rights included in its Relief Canyon Properties. The future minimum lease payments under these mining leases are as follows: 2018 $ 78,994 2019 98,491 2020 137,485 2021 137,485 2022 142,485 Thereafter 937,290 $ 1,532,230 The Company has given notification of its intention to exercise a right to purchase certain royalty interests currently burdening the Relief Canyon properties and surrounding areas in exchange for a cash payment of $1.1??????? million. If consummated, this transaction would reduce the overall royalty burden on the Companys Relief Canyon properties. The Company anticipates that the transaction would be consummated, if at all, during the remainder of fiscal year 2018. There is no assurance that this transaction will be completed.