A geological survey of land owned by George in northern Ontario indicates that there are gold deposits under the soil,which makes the land very valuable.George approaches a mining company and agrees to let the company mine the gold for a very large sum of money.The agreement goes on to provide that the company will also pay George a portion of the value of gold extracted each year by the company.In this case,George and the company have entered into

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The agreement between George and the mining company is likely a mineral lease, as it allows the company to mine the valuable minerals (gold) on George's land, in exchange for payment of a large sum of money as well as a portion of the value of the extracted gold. A mineral lease is a type of contract that allows a mining company to explore, develop, and extract minerals from a property owned by someone else.

A Geological Survey of Land Owned by George in Northern