A mathematical programming framework based on Mixed Integer Linear Programming (MILP) model for surfaceunderground mining options and transition optimization for resource extraction is presented in this paper. Existing models are mainly based on a stepwise optimization approach with limited constraints which produces localized optimal solutions and are often impractical. For mineral deposits amenable to both surface and underground mining options, the MILP framework determines the most suitable mining option and associated schedule to exploit the orebody. The MILP formulation is tested and implemented on a gold deposit case study. The NPV of the optimal mining option ($ 2.515 billion) is sensitive to the gold price, ore quantity delivered from the underground mine, and delay factor associated in supporting the operational development and stopes. Positive changes in the delay factors associated with operational development support and mining stope support have more impact on the NPV than negative changes. However, the NPV is highly sensitive to the mining stope support delay than the operational development support delay.