On January 25, 2012, Can-Cal Resources Ltd. entered into a Mineral Lease Agreement with GoodCorp Inc., a Los Angeles, California private company. The Mineral Lease gives GoodCorp the right to extract and process surface ore from Can-Cal's Pisgah, California property. The Mineral Lease initially contemplates GoodCorp's removal of up to 100,000 tons of ore, but GoodCorp is entitled to remove additional Pisgah Ore available on the property, subject to approval by both parties, excluding certain defined, precious metals. Currently situated on the Pisgah property is a segregated stock pile of crushed Pisgah Ore, estimated at 3.5 million tons, which is immediately available to GoodCorp, Can-Cal estimates the remaining raw surface-Pisgah Ore, which has not been formally delineated, conservatively at 15.0 million tons. The term of the Mineral Lease is for 10 years, with an additional five year term, at GoodCorp's option.