| I. | Both      parties declare that: |
|----|---------------------------------|

| I.1 | On      May 8, 2008 they entered into an Exploration and Option to Purchase Mining      Concessions Agreement (hereinafter the “Agreement”) by which HUAJICARI      conveyed to NAYARIT the exclusive right to perform mining activities in      the mining claims covered by the following mining concessions (hereinafter      the “MINING CONCESSIONS”), which are located at the Municipality of      Acaponeta, State of Nayarit, with the option to acquire the rights      deriving from the MINING CONCESSIONS upon compliance of several      obligations: |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| NAME OF THE CLAIM |         | TITLE NUMBER |   | SURFACE (HS) |
|----------------------------------|--------------|-------------------|--------|-------------------|
|                             |         |              |   |              |
| San      Juan Fracc. I           |         | 205392            |   | 1,371.7580        |
| San      Francisco Tres          |         | 203136            |   | 32.7243           |
| Isis                             |         | 214395            |   | 101.3390          |
| San      Miguel                  |         | 224392            |   | 1,178.00          |
| San      Juan Fracc. II          |         | 205393            |   | .8091             |
| San      Juan I                  |    | 221365            |   | 45.6307           |

| I.2 | Due      to the results obtained in the exploration of the MINING CONCESSIONS and      being convenient to their mutual interests, they wish to amend the      Agreement in the terms indicatedbelow. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|  | 6.1.1 | The      total amount of US$2’500,000 (Two Million Five Hundred Thousand Dollars,      legal currency of the USA), asfollows: |
|--|-------|-------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | US$500,000.00      (Five Hundred Thousand Dollars, legal currency of the      USA),  upon execution of this  Agreement; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Two      installments of US$500,000.00 (Five Hundred Thousand Dollars, legal      currency of the USA), one on November 8, 2008 and the other on May 8,      2009; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | Two      installments of US$250,000.00 (Two Hundred and Fifty Thousand Dollars,      legal currency of the USA), the first one on January 31, 2010 and the      second on April 30, 2010; and |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | US$500,000.00      (Five Hundred Thousand Dollars, legal currency of the USA), on May 8,      2010. |
|--------|-----|-----------------------------------------------------------------------------------------------------|

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| HUAJICARI                                      |         | NAYARIT                                        |
|------------------------------------------------|--------------|------------------------------------------------|
| Compañía      Minera Huajicari, S.A. |         | Nayarit      Gold de México, S.A. de C.V. |
| de      C.V.                                   |         |                                           |
|                                           |         |                                           |
| /s/      Armando Guadiana Tijerina             |         | /s/      Colin Paul Sutherland                 |
| Ing.      Armando Guadiana Tijerina            |         | Sr.      Colin Paul Sutherland                 |
| Representative                                 |         | Representative                                 |
| Place      and date: December 10, 2009         |    | Place      and date: December 10,2009          |

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