Tribute Mining Agreement Definition

In addition, beyond the 4.5 million carat resource (in Tongo and Tonguma), there is considerable upward potential by introducing additional large-scale kimberlites into the resource and future mining plan in the two conssession areas. Instead, diamond development companies Stellar Diamonds and Octea Mining intend to enter into a tribute mining agreement that would allow Stellar Diamonds to dismantle the Tonguma license area in eastern Sierra Leone, in addition to Stellar`s own Tongo project, and process and sell all diamonds mined from these concessions, while part of the proceeds of the sale will be paid to Octea Mining. The final tribute agreement should include a timetable for the implementation of the mining plan, but this timetable has yet to be negotiated.

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