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                            LEASE PURCHASE AGREEMENT

Customer/Lessee:  Silverado Green Fuel Inc., dba Silverado Gold Mines Inc.
Dealer/Lessor:  Airport Equipment Rentals, Inc.

By  signing  below  the customer hereby accepts the provisions of this agreement
and  agrees  that the equipment is in good working order and well suited to it's
intended  purposes.  The  equipment  as  specified  on  "schedule  A"  which  is
attached.  The  dealer agrees to deliver the equipment as specified in the terms
and  conditions  of  a  separate  invoice.

The  dealer  is  the  owner of the equipment until such time as the customer has
performed  all  payment responsibilities of this agreement.  The equipment shall
mean  all  presently  owned  parts and after-acquired parts, accessories, tools,
equipment,  additions, substitutions, attachments, accessories, and replacements
for  the  equipment  whether  now  owned  or  hereafter  acquired.
This  shall  also  man  any  insurance  proceeds from the equipment to any other
party.  The  dealer  may  (but  does  not have to) file a UCC for information or
security  interest purposes in this equipment in order to maintain ownership and
interest  in  the  equipment.

Payments:  For  value  received the customer agrees to pay to the dealer at 1310
Van  Horn  Rd  Fairbanks  Alaska  as  follows:

-    One  payment  of  $550,000  due  upon  signing of this agreement (which may
     include  deposits  on  equipment  orders  in  process).  Wire instructions:
     Airport  Equipment Rentals, Inc. @ Northrim Bank account #XXXXXXXXXX (wire
     transfer  desk),  aba #XXXXXXXXX
-    One  payment  of  $100,000  due  on  or  before  12-01-03.
-    24  equal payments of an amount to be determined. The amount of the payment
     shall be determined based on the amount of the equipment and other expenses
     added  into  this  lease.  The  payment shall be of an amount sufficient to
     amortize  the  balance  over  the  24  payments.

The  starting  principle  amount of this lease shall be determined by taking all
equipment invoices (as signed by the customer) and adding them to any additional
expenses  (approved  by  both  parties).  This  figure  will be the basis of the
lease.  The  payments  will  then  be  reduced  by 85% in order to determine the
actual  amount  amortizing  the  lease.


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Grace  period:  Any  payment not made within 10 days of the due date shall carry
after  maturity interest at 1.5% per month.  In addition, a late charge equal to
5%  of  the  amount  delinquent  shall  be  assessed.

Default:  In  the  event of default of this agreement the customer agrees to pay
reasonable  attorneys  fees  necessary to collect this obligation.  In addition,
the  customer  shall  pay  all  reasonable  costs  associated with repossession,
storage, holding, advertising, selling or otherwise deposing of the equipment in
relation to this agreement and the collection of this obligation, as well as any
other  obligation  of  the  customer  to  the  dealer.

The customer agrees to keep the equipment at the general location on the invoice
and  shall only remove the equipment from that location with the written consent
of  the  dealer.  In  no  event  shall  the  customer  be entitled to remove the
equipment  from  the  State  of  Alaska.

The  customer shall carry proper and necessary insurance on the equipment at all
times.  The  insurance  shall  list  the  dealer  as  the  loss payee, or to the
dealer's  assignee  (upon  notification  from  the  dealer).

The  customer  shall  keep  the  equipment  in  good  working order and shall be
responsible  for  all  maintenance necessary toward that end.  In the event that
the  equipment  is not being properly maintained the dealer shall have the right
to  perform  the  service and charge the customer the associated cost related to
that service.  This determination shall be made by the dealer after notification
of  the  failure  to  service  and  10  days waiting period given to customer to
correct  the  problem.

This  agreement  shall  be  payable in United States currency and subject to the
provisions  and  laws of the State of Alaska.  Any dispute or default under this
agreement  shall  be  subject  to  those  laws.

Accepted and agreed this 11th day of Oct. 2002

Customer:  Silverado Green Fuel Inc. dba Silverado Gold Mines Inc.
By  /s/ Edward J. Armstrong          Title: President

Dealer:  Airport Equipment Rentals, Inc.     By:  /s/ Jerry Sadler

THIS  IS  TO  CERTIFY  THAT ON THIS THE 11TH DAY OF OCTOBER, 2002, BEFORE ME THE
UNDERSIGNED  NOTARY  PUBLIC IN AND FOR THE STATE OF ALASKA, DULY COMMISSIONED TO
ME  KNOWN TO BE THE INDIVIDUALS MENTIONED IN AND WHO EXECUTED THE FOREGOING, AND
ACKNOWLEDGED TO ME THEY SIGNED AND SEALED IT AS THEIR FREE AND VOLUNTARY ACT AND
DEED.

                                   /s/ Linda A. Kirochmer
                                   ----------------------------------------
                                   NOTARY PUBLIC IN AND FOR THE STATE OF ALASKA
                                   MY COMMISSION EXPIRES:  7/2/05