On March 23, 2020, Goldrich Mining Company announced it has signed an agreement with Nicholas Gallagher (“Gallagher”), a related party and member of the Company’s Board of Directors, in his capacity as Agent (“Agent”) for and on behalf of Gallagher and other lenders (Gallagher and the other lenders collectively, “Holders”). The agreement amends the Senior Secured Note financing previously noted in Goldrich’s new releases dated February 13, 2018 and August 20, 2018. Goldrich (the “Borrower”) and its wholly-owned subsidiary, Goldrich Placer LLC (the “Guarantor”) and Holders entered into an Amended and Restated Loan, Security, and Intercreditor Agreement (collectively the “Amended 2019 Loan Agreement”), effective as of November 1, 2019 (as amended, supplemented, extended, restated, or otherwise modified from time to time), pursuant to which, in exchange for the secured promissory notes (the “Notes”) and other consideration: Holders have loaned to Borrower prior to November 1, 2019, an aggregate principal amount of $3,987,368.49; Gallagher has agreed to make additional loans to Borrower from and after November 1, 2019, totaling a maximum principal amount of $394,736.84 (the net proceeds of which to GMC will be $375,000), and With the consent of Agent, any new lender or existing Holder may make an additional loan or loans under the Loan Agreement. Under the Amended 2019 Loan Agreement: The Borrower and Holders entered into a Deed of Trust whereunder the Notes are secured by a security interest in all real property, claims, contracts, agreements, leases, permits and the like. The Borrower and any Holder may negotiate a separate agreement enabling the Borrower to issue shares to said Holder in satisfaction of some or all interest that may be due to said Holder. The Guarantor entered into a Guaranty whereunder the Guarantor unconditionally guarantees and promises to pay to the order of each Holder: the principal sum of each Note held by such Holder when and as the same becomes due, whether at the stated maturity thereof, by acceleration, call for redemption, tender, or otherwise, all Interest payable on each such Note when and as the same becomes due, and any other amounts owing by Borrower to such Holder under the Loan Agreement or any other Loan Document when and as the same becomes due.