Exhibit
      10.8

    


    PROPERTY
      OPTION AMENDMENT AGREEMENT

    


    THIS
      AMENDMENT AGREEMENT
      (“Amendment Agreement”) is made on December 27, 2006 

     

    BETWEEN:

    


    ST.
      ELIAS MINES LTD.,
      (“St.
      Elias”) of Suite 314 - 800 West Pender Street, Vancouver, B.C., V6C 2V6,
of
      the
      first part,

    


    AND:

    


    HI
      HO SILVER RESOURCES INC.,
      (“Hi Ho
      Silver”) of Suite #15A, 3045 Southcreek Road, Mississauga, Ontario, L4X 2E9,
of
      the
      second part.

    


    WHEREAS
      St.
      Elias
      and Hi Ho Silver entered into a Property Option Agreement dated September 12,
      2005 (the “Option Agreement”);

    


    AND
      WHEREAS
      the
      parties mutually wish to amend the Option Agreement as set out
      herein;

    


    NOW,
      THEREFORE,
      in
      consideration of the sum of $1.00 paid by each of the parties to the other
      and
      for and other good and valuable consideration (the receipt and sufficiency
      of
      which is hereby acknowledged), the parties agree as follows:

    


    	1.  	
            The
              Option
              Agreement
              is
              to be amended by deleting
              subsection 1.01 (b) (i) of the Option Agreement and replacing it with
              the
              following: 

          


    


    
      	 	
              (i)

            	
              Exploration
                Expenditures totalling $400,000 (the “Phase
                I Program”)
                to be incurred on or before February 28, 2007;

            


    

    


    	2.  	
            The
              Option Agreement is to be amended by deleting section 19.01 of the
              Option
              Agreement and replacing it with the
              following:

          


     

    
      	
            	19.01	
              Any
                notice, election, consent or other writing required or permitted
                to be
                given hereunder shall be deemed to be sufficiently given if delivered
                or
                if mailed by registered air mail or by fax, addressed as
                follows:

            


    

    


    In
      the
      case of St. Elias:

     

    St.
      Elias
      Mines Ltd.

    314
      - 800
      West Pender Street 

    Vancouver,
      BC V6C 2V6

    


    Attention:
      Lori McClenahan, President

    Fax
      No.:
      (604) 669-9626

    


    In
      the
      case of the Hi Ho Silver:

    


    Hi
      Ho
      Silver Resources Inc.

    #15A,
      3045 Southcreek Road

    Mississauga
      ON L4X 2E9

    


    Attention:
      Frederick S. Fisher, President

    Fax
      No.:
      (905) 602-4656

     

    and
      any
      such notice given as aforesaid shall be deemed to have been given to the parties
      hereto if delivered, when delivered, or if mailed, on the tenth business day
      following the date of mailing, or, if faxed, on the next succeeding business
      day
      following the faxing thereof PROVIDED HOWEVER that during the period of any
      postal interruption in either the country of mailing or the country of delivery,
      any notice given hereunder by mail shall be deemed to have been given only
      as of
      the date of actual delivery of the same. Any party may from time to time by
      notice in writing change its address for the purpose of this
      paragraph.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    


    	3.  	
            No
              other changes shall be made at this time to the Option Agreement and
              all
              other provisions of the Option Agreement shall remain in full force
              and
              effect.

          


    


    	4.  	
            This
              Amendment Agreement shall replace and supersede


          


     

    	(a)  	
            a
              certain Property Option Amendment Agreement between the parties dated
              May
              29, 2006; and

          


     

    	(b)  	
            a
              certain Property Option Amendment Agreement between the parties dated
              June
              21, 2006.

          


    


    	5.  	
            This
              Amendment Agreement may be executed in one or more counterparts, each
              of
              which shall be deemed to be an original and which together shall
              constitute one and the same agreement. Delivery
              of an executed copy of this Amendment
              Agreement
              by
              electronic facsimile transmission or other means of electronic
              communication capable of producing a printed copy will be deemed to
              be
              execution and delivery of this Agreement as of the date first set forth
              above.

          


    


    IN
      WITNESS WHEREOF, each
      of
      the parties has executed this Amendment Agreement as of the date first above
      written.

     

    
      	
              ST.
                ELIAS MINES LTD.

            	 	 	
              HI
                HO SILVER RESOURCES INC.

            
	
              /s/
                Signed

            	 	 	
                    
                /s/ Signed

            
	
              

              By: Authorized
                Signatory

            	 	 	
              

              By: Authorized
                Signatory