Mundoro Capital Inc. Options Out Exploration Property in Serbia to Kinross Gold Corporation
of the Option, Mundoro will retain a 2% NSR royalty on the Property, of which Kinross will have an option to purchase a portion over two tranches which are: within 3 years of the Option exercise, purchase 0.5% of the NSR royalty for a payment price linked to the gold price at that time (the Initial Buy-back), and if the Initial Buy-Back is completed, at any time thereafter purchase an additional 0.5% of the NSR royalty for a payment price linked to the gold price at that time.