BLM BIG SANDY APPROVED!, page-320

Material terms of the Mining Services Agreement
(a) Parties: AZL and NTEC.
(b) Purpose: AZL has engaged the services and expertise of NTEC to undertake various work
requirements and activities to progress exploration and development of the Big Sandy, including
but not limited to, community engagement, obtaining permitting requirements, mine design,
exploration drilling, baseline studies, environmental assessments, construction and contract
mining operations (Work Requirements).
(c) Consideration: AZL has agreed to issue NTEC 424,242,424 fully paid ordinary shares in AZL
(Shares) at a deemed issue price of $0.075 per Share, which will be subject to escrow and other
restrictions pursuant to a voluntary escrow deed executed by NTEC and AZL. Upon the relevant
milestone completion date for a Work Requirement, AZL will release that number of Shares from
escrow corresponding to the relevant Work Requirement in accordance with the Mining Services
Agreement.
(d) Conditions Precedent: The Mining Services Agreement is subject to and conditional upon:
(i)
AZL obtaining shareholder approval under ASX Listing Rule 7.1 for the issue of the Shares to
NTEC; and
(ii)
NTEC completing procedures to grant limited waivers of sovereign immunity to AZL.
(e) Term and Termination: The Mining Service Agreement will remain in force from the date of
execution until the earlier of (a) the date that is 5 years from the date of execution and for so long
as NTEC continues to per