78. Excess amounts spent in respect of an exclusive exploration right by its holder may be applied, in accordance with section 76, towards the renewal of another exclusive exploration right regarding which the holder has made a promise to purchase by way of an instrument registered in the public register of real and immovable mining rights.
If those excess amounts were spent by a person who is not the holder of the exclusive exploration right concerned but who has made a promise to purchase in the manner described in the preceding paragraph, the amounts spent may be applied, with the holder of an exclusive exploration right written consent, towards the renewal of an exclusive exploration right held by that person or regarding which the person has made a promise to purchase in the manner described in the preceding paragraph.
1987, c. 64, s. 78; 1988, c. 9, s. 22; 2013, c. 32, s. 40; 2024, c. 362024, c. 36, s. 1401.