Public Law 69–503

That hereafter all gold, silver, or quicksilver deposits, or mines or minerals of the same on lands embraced wit inn any land claim confirmed or hereafter confirmed by decree of the Court of Private Land Claims, and which did not convey the mineral rights to the grantee by the terms of the grant, and to which such grantee has not become otherwise entitled in law or in equity, may be leased by the Secretary of the Interior to the grantee, or to those claiming through or under him, for a period of twenty years, with the preferential right in the lessee to renew the same for successive periods of ten

Terms, etc., to be prescribed.

years, upon such reasonable terms and conditions as may be prescribed by the Secretary of the Interior, unless otherwise provided by law at the time of the expiration of such periods.

Sec. 2.

That for the privilege of mining or extracting the gold, silver, or quicksilver deposits in the land covered by such lease, the lessee shall pay to the United States a royalty, which shall not be less than 5 per centum nor more than 12^ per centum of the net value of the output of the gold, silver, or quicksilver at the mine, due and payable at the end of each month succeeding that

Deposit of moneys received from royalties, etc.

of the extraction of the minerals from the mine. All moneys received from royalties and rentals under the provisions of this Act shall be deposited in the Treasury of the United States, and

Vol. 41, p. 450.

disposed of in the same manner as rentals and royalties under the provisions of the Act of February 25, 1920 (Forty-first Statutes, page 437).

Sec. 3.

That the Secretary of the Interior is hereby authorized to perform any and all acts and to make such rides and regulations as may be necessary and proper for the purpose of carrying this Act into full force and effect.