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| EXCLUSIVE
PROSPECTING PERMIT If minerals are discovered during prospecting permit period require more detailed prospecting for its proper evaluation, the applicant is required to obtain an Exclusive Prospecting permit. Application - In the prescribed form - Fee - Area plans preferably demarcated on the topographic map of the concerned area - Proposed program of work for 2 years showing the technical methods to be used, technical personnel to be employed and a financial estimate of the program Area Not more than 20 Sq.Km. Duration Initially 2 years. Renewable on yearly basis to a maximum of 6 years. Fee Payable - Application fee RO 25.000 - Annual fee RO 50.000/Sq.Km or part there of - Royalty on minerals extracted - MCI may also ask for Bank Guarantees Exclusive Prospecting Permit Holder Responsibilities - Submit quarterly summary reports describing the activities during the quarter in question. - During the first quarter of every year an annual report is submitted giving details of operation during the preceding calendar year, such as surface and U/G palns, sections etc., bore hole logs and other relevant geological, mineralogical and economic factors involved working costs and capital expenditure incurred. Rights of Exclusive Prospecting Permit Holder - To prospect for mineral/minerals specified in the permit - To make exploration by means of Adits, Shafts, or other underground workings to erects plants for experimental treatment of minerals - Construct access roads, airstrip, temporary camp sites, structures and works necessary for the operations. - Take and remove such samples of soils, rocks and other minerals in the permit area necessary for operations.
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