Contracting Agreement

Philex Mining Corporation, referred as to the company, and Keith’s Construction, referred to as the
CONTRACTOR, agree as follows:

CONTRACTOR shall perform the following services for the Corporation:

a. Improvement of the road pavements along Kias- Philex Provincial Road.

b. Keith’s Construction Truck services for use on the underground mine.

c. Rendering manpower through its employees for the mine operations.

On the following estimated schedule:

January- September 2023

December 2023- December 2024

For the following price of PHP 1,500,000.

CONTRACTOR shall be responsible for the following addition to the workman like performance of the
work. Provision of all permits required for the services to be performed above. Provisions of workers
compensation, insurance, general liability in a minimum amount of PHP 450 per day.

When bonafide bills for materials are presented the same shall be paid directly by the company within
the terms that will be provided. The CONTRACTOR shall daily remove all the trash and debris from the
workplaces.

Any first mortgage or equity loan on the property in question shall be superior to any placed upon the
property by the contractor. Contractor shall sign any necessary paperwork to enact this provision in favor
of a first mortgage holder or equity loan holder.

Contractor will release any claims against the property upon completion and payment of 90% of the
contract. The remaining 10% shall due upon completion but not subject to a mechanic or other such lien.
Contractor shall sign all necessary paperwork to enact this transaction prior to receive the payment that
brings it up to 90% payment.

This Entire agreement between the parties and this agreement may only be altered in writing.

Dated: March 23, 2023

LENARD KEITH L. LORENZO PHILEX MINING CORPORATION

KEITH’S CONTRUCTION OWNER