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CONDUCTING MINING EXPLORATION ACTIVITIES UNDER TURKISH LAW

According to Turkish Law, underground resources are subject to the exclusive ownership and disposition of the State and are not deemed as part of the land in which they are located. Pursuant to Article 4 of the Mining Law (published in the Official Gazette dated June 15, 1985 and numbered 18785) (Law No. 3213) (the “Law”), property rights over the land exclude any existing minerals.

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