**ADMAX      RESOURCES INC.**

**CHARTER      - AUDIT COMMITTEE**

**Committee      Role**

**Committee      Membership**

**Committee      Operating Principles**

| (1) | Communications                - The chairperson and others on the committee shall, to the extent                appropriate, have contact throughout the year with senior management,                other committee chairpersons, and other key committee advisors, external                and internal auditors, etc., as applicable, to strengthen the committee's                knowledge of relevant current and prospective business                issues. |
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| (2)    | Committee                Education/Orientation - The committee, with management, shall develop                and                participate in a process for review of important financial and operating                topics that present potential significant risk to the company.                Additionally, individual committee members are encouraged to participate                in relevant and appropriate self-study education to assure understanding                of the business and environment in which the company                operates.                                                                                                                                                                                                                                                                                                                                                         |
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| (3)    | Annual                Plan - The committee, with input from management and other key committee                advisors, shall develop an annual plan responsive to the "primary                committee responsibilities" detailed herein. The annual plan shall                be                reviewed and approved by the full board.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
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| (4)    | Meeting                Agenda - Committee meeting agendas shall be the responsibility of                the                committee chairperson, with input from committee members. It is expected                that the chairperson would also ask for management and key committee                advisors, and perhaps others, to participate in this                process.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
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| (5)    | Committee                Expectations and Information Needs - The committee shall communicate                committee expectations and the nature, timing, and extent of committee                information needs to management, internal audit, and external parties,                including external auditors. Written materials. including key performance                indicators and measures related to key business and financial risks,                shall                be received from management, auditors, and others at least one week                in                advance of meeting dates. Meeting conduct will assume board members                have                reviewed written materials in sufficient depth to participate in                committee/board dialogue.                                                                                                             |
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| (6)    | External                Resources -The committee shall be authorized to access internal and                external resources, as the committee requires, to carry out its                responsibilities.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
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| (7)    | Committee                Meeting Attendees - The committee shall request members of management,                counsel, internal audit, and external auditors, as applicable, to                participate in committee meetings, as necessary, to carry out the                committee responsibilities. Periodically and at least annually, the                committee shall meet in private session with only the committee members.                It shall be understood that either internal or external auditors,                or                counsel, may, at any time, request a meeting with the audit committee                or                committee chairperson with or without management attendance. In any                case,                the committee shall meet in executive session separately with internal                and                external auditors, at least annually. |
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| (8)    | Reporting                to the Board of Directors - The committee, through the committee                chairperson, shall report periodically, as deemed necessary, but                at least                semi-annually, to the full board. In addition, summarized minutes                from                committee meetings, separately identifying monitoring activities                from                approvals, shall be available to each board member at least one week                prior                to the subsequent board of directors                meeting.                                                                                                                                                                                                                                                                                                                              |

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| (9) | Committee                Self Assessment - The committee shall review, discuss, and assess                its own                performance as well as the committee role and responsibilities, seeking                input from senior management, the full board, and others. Changes                in role                and/or responsibilities, if any, shall be recommended to the full                board                for approval. |
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**Meeting      Frequency**

**Reporting      to Shareholders**

**Committee's      Relationship with External and Internal Auditors**

| (1)    | The                external auditors, in their capacity as independent public accountants,                shall be responsible to the board of directors and the audit committee                as                representatives of the shareholders.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
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| (2)    | As                the external auditors review financial reports, they will be reporting                to                the audit committee. They shall report all relevant issues to the                committee responsive to agreed-on committee expectations. In executing                its                oversight role, the board or committee should review the work of                external                auditors.                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
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| (3)    | The                committee shall annually review the performance (effectiveness,                objectivity, and independence) of the external and internal auditors.                The                committee shall ensure receipt of a formal written statement from                the                external auditors consistent with standards set by the Independent                Standards Board and the Securities and Exchange Commission. Additionally,                the committee shall discuss with the auditor relationships or services                that may affect auditor objectivity or independence. If the committee                is                not satisfied with the auditors' assurances of independence, it shall                take                or recommend to the full board appropriate action to ensure the                independence of the external auditor. |
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| (4)    | The                internal audit function shall be responsible to the board of directors                through the committee.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
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| (5)    | If                either the internal or the external auditors identify significant                issues                relative to the overall board responsibility that have been communicated                to management but, in their judgment, have not been adequately addressed,                they should communicate these issues to the committee                chairperson.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
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| (6)    | Changes                in the directors of internal audit or corporate compliance shall                be                subject to committee approval.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |

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**Primary      Committee Responsibilities**

***Monitor      Financial Reporting and Risk Control Related Matters***

| (1)                                                              | Risk                Management - The company's business risk management process, including                the                adequacy of the company's overall control environment and controls                in                selected areas representing significant financial and business                risk.                                                                                                                                                                                                      |
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| (2)                                                              | Annual                Reports and Other Major Regulatory Filings - All major financial                reports                in advance of filings or distribution.                                                                                                                                                                                                                                                                                                                                                       |
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| (3)                                                              | Internal                Controls and Regulatory Compliance - The company's system of internal                controls for detecting accounting and reporting financial errors,                fraud                and defalcations, legal violations, and noncompliance with the corporate                code of conduct.                                                                                                                                                                                               |
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| (4)                                                              | Internal                Audit Responsibilities - The annual audit plan and the process used                to                develop the plan. Status of activities, significant findings,                recommendations, and management's response                                                                                                                                                                                                                                                                      |
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| (5)                                                              | Regulatory                Examinations - SEC inquiries and the results of examinations by other                regulatory authorities in terms of important findings, recommendations,                and management's response.                                                                                                                                                                                                                                                                                          |
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| (6)                                                              | External                Audit Responsibilities - Auditor independence and the overall scope                and                focus of the annual/interim audit, including the scope and level                of                involvement with unaudited quarterly or other interim-period                information.                                                                                                                                                                                                  |
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| (7)                                                              | Financial                Reporting and Controls - Key financial statement issues and risks,                their                impact or potential effect on reported financial information, the                processes used by management to address such matters, related auditor                views, and the basis for audit conclusions. Important conclusions                on                interim and/or year-end audit work in advance of the public release                of                financials. |
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| (8)                                                              | Auditor                Recommendations - Important internal and external auditor recommendations                on financial reporting, controls, other matters, and management's                response. The views of management and auditors on the overall quality                of                annual and interim financial reporting.                                                                                                                                                                           |
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| The                committee should review, assess, and approve: |
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| (1)                                                              | The                code of ethical conduct,                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
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| (2)                                                              | Changes                in important accounting principles and the application thereof in                both                interim in and annual financial                reports.                                                                                                                                                                                                                                                                                                                                       |

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| (3)    | Significant                conflicts of interest and related-party transactions.                                                                    |
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| (4)    | External                auditor performance and changes in external audit firm (subject to                ratification by the full board).          |
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| (5)    | Internal                auditor performance and changes in internal audit leadership and/or                key                financial management. |
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| (6)    | Procedures                for whistle blowers.                                                                                                      |
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| (7)    | Pre-approve                allowable services to be provided by the auditor.                                                                        |
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| (8)    | Retention                of complaints                                                                                                              |