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Exhibit 10-4

KORA KEENAN KELSO CLAIMS

LEGEND PROPERTY # 3

 

 

 

 

QUITCLAIM DEED

FOR MINING CLAIMS/SITES IN ARIZONA

 

Rodney B. Beyer representing Mining & Technology LLC, with a business address at 11303 E Prince Road, Tuscon, Arizona, 85749, acting as Attorney-In-Fact on behalf of Jean Beyer

 

for consideration paid, assigns, conveys, and quitclaims to:

 

Q Lotus Inc., a Nevada Corporation, with a business address at 500 N Dearborn, Unit 605, Chicago, IL, 60654

 

The following mining claims/sites in Pinal County, Arizona:

 

Claim/Site Name

BLM Serial Number

CORA 1

AMC 373 899

KEENAN 3

AMC 386 008

KELSO 1

AMC 385 879

KELSO 3

AMC 373 902

 

 

WITNESS this   23rd  day of   April   , 2010.

 

 

  /S/      Rodney Beyer                                                

Rodney Beyer, Managing Partner

 

------------------------------------------------------------------------------------------------------------

Acknowledgement for Persons

State of Utah                                )

Pinal County                                )

  The foregoing instrument was acknowledged before me this   23rd  day of   April , 2010.

 

By                                                                   Kathleen Christensen     (Name(s) of Person(s) Acknowledging)

 

My commission expires:  5-7-2010

  /S/    Kathleen Christensen                                         

(seal)                                                                                 Notary Public

 

---------------------------------------------------------------------------------------------------------------------------------

Acknowledgement for Corporation

State of Utah                                )

Pinal County                                )

  The foregoing instrument was acknowledged before me this   23rd  day of _ April   , 2010.

 

By                                                         R B Beyer (Name of Officer) ,   partner (Title) of   M & T  LLC   (Name of corporation) , an    Arizona   (State of Incorporation) corporation, on behalf of said corporation.

 

My commission expires:

  /S/       RB Beyer                                               

(seal)                                                                                 Notary Public

 

 

 

 

1


 

 

 

Ron Parker

Consulting Geologist

14700 N. Shotgun Pl.

Oro Valley, Arizona 85755

520-825-5359

 

rocktosser@comcast.net

 

Recertification

 

 

February 24, 2010

 

To Whom It May Concern

 

I issued a report entitled "Cora 1 & 2, Kelso 1, 2, 3, &4, Keenan 1, 2, 3, & 4 Claim evaluations", which provided an evaluation of value for each of the listed claims located in the alluvial black sands deposit in Pinal County, Arizona. The report was first issued in 2001 and last updated in August 31, 2009 to incorporate current market prices of the various listed precious metals.

 

Mr. Reno Fiedler of Mining & Technology LLC approached me requesting a recertification of the report.

 

I hereby certify that the amounts of in-situ resources in the form of precious metals and saleable commodities in the claims are unchanged, thus the applied valuation remains intact as stated.

 

 

Sincerely,

 

  /S/ Ron Parker

 

Ron Parker

 

Consulting Geologist

 

Introduction

 

The Cora, Kelso & Keenan Claims are within the area of the original report dated August 13, 2002. The original report was intended to give an over view of the Magnetite Placer deposits in the Florence Alluvial Basin. The Alluvial Basin encompasses and area of approximately eight hundred square miles. The average magnetite content in the area of drilling carried out by Sovereign Industries and evaluated by several consulting companies including the Colorado School of Mines was five per cent. This percentage is agreed up on by the operating mine owner near the claims. This work was done in the 1960's. During the early 1990's numerous individuals surface sampled this area. They had these samples assayed for gold, silver and the platinum group minerals. These samples were concentrated down to a magnetite sample then sent to the assay labs for analysis. The primary area of drill was for magnetite and the later sampling was carried out in Townships 7 South, Range 11 East, Townships 7 South, Range 12 East, Townships 8 South, Range 11 East, Townships 8 South, Range 12 East, Townships 9 South, Range 11 East, 10 South, Range 11 East.

 

The magnetite is the proven ore type as defined in the drilling of the alluvial fan. The percentage grade will vary because this is the character of Placer Deposits. The magnetite will vary from 1% to as much as 15%. The precious metals are reported in ounces per ton of magnetite. The amount of precious metals will also vary in the Placer Deposit and possibly in the occurrence with the magnetite. The estimated values placed on the commodities are the averaged percent and averaged ounces per ton of magnetite.

 

Conclusion

 

 

 

100 Foot Depth

500 Foot Depth

 

 

 

The total estimated in ground value for Cora 1 is

$3,007,134,123

$15,035,670,613

The total estimated in ground value for Cora 2 is

$3,007,134,123

$15,035,670,613

The total estimated in ground value for Kelso 1 is

$3,007,134,123

$15,035,670,613

The total estimated in ground value for Kelso 2 is

$3,007,134,123

$15,035,670,613

The total estimated in ground value for Kelso 3 is

$3,007,134,123

$15,035,670,613

The total estimated in ground value for Kelso 4 is

$3,007,134,123

$15,035,670,613

The tota


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