PURCHASE AND SALE AGREEMENT






                                     BETWEEN

                              JERICHO MINERALS INC.

                                       AND

                               STEVEN BEKROPOULOS







                     Dated as of the 29th day of July, 2004

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                           PURCHASE AND SALE AGREEMENT

THIS AGREEMENT made as of the 29th day of July, 2004

AMONG:

JERICHO MINERALS INC., a company existing under the laws of the State of Nevada
and having its head office at 2255 West 4th Avenue, Suite 312, Vancouver,
British Columbia, Canada V6K 1N9 ("Jericho")

AND:

STEVEN BEKROPOULOS, of 4555 Blenheim Street, Vancouver, British Columbia, V3J
5V7 (the "Vendor")

WHEREAS:

          A.   The Vendor holds, directly or indirectly, interests in certain
               mineral exploration claims located in British Columbia;
          B.   The Vendor wishes to sell and Jericho wishes to purchase a 100%
               interest in the Property on the terms and conditions contained in
               this Agreement.

In  consideration  of the premises,  covenants and agreements  contained in this
Agreement, the parties covenant and agree each with the other as follows:

1.       INTERPRETATION

1.1      Definitions
         -----------
For the  purposes of this  Agreement  and the  recitals in and  Schedule to this
Agreement,  unless the  context  otherwise  requires,  the  following  words and
phrases will have the meanings indicated below:

          (a)  "Agreement" means this Agreement including the recitals and
               Schedule hereto, which are incorporated by this reference, as
               amended and supplemented;

          (b)  "Property" means the mineral exploration claims located in
               British Columbia and listed in Schedule 1 hereto;

          (c)  "Purchase Price" means the $7,250 purchase price for the Property
               as contemplated in this Agreement;

          (d)  "The Vendor" means Steven Bekropoulos;

          (e)  "Jericho" means Jericho Minerals Inc., a company incorporated and
               existing under the laws of Nevada;


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1.2      Interpretation
         --------------
In this Agreement,  except as otherwise  expressed or provided or as the context
otherwise requires:

          (a)  the headings and captions are provided for convenience only and
               will not form a part of this Agreement, and will not be used to
               interpret, define or limit the scope, extent or intent of this
               Agreement or any of its provisions; and

          (b)  a reference to time or date is to the local time or date in
               Vancouver, Canada, unless specifically indicated otherwise;

1.3      Amendment
         ---------
No  amendment,  waiver,  termination  or  variation  of the  terms,  conditions,
warranties, covenants, agreements and undertakings set out herein will be of any
force or effect  unless  the same is reduced to  writing  duly  executed  by all
parties  hereto in the same manner and with the same formality as this Agreement
is executed.

1.4      Waiver
         ------
No waiver of any of the provisions of this Agreement will constitute a waiver of
any other  provision  (whether or not similar)  and no waiver will  constitute a
continuing waiver unless otherwise expressly provided.

1.5      Schedule
         --------
The following Schedule are attached hereto and form a part hereof:

            Schedule      Subject

                1         Description of Property

1.6      Currency
         --------
         All  dollar  ($)  references  in this  Agreement  are to United  States
dollars.

2.       PURCHASE AND SALE

2.1      Purchase and Sale
         -----------------
Subject  to the  terms  and  conditions  of  this  Agreement  and  based  on the
representations  and  warranties  contained in this  Agreement,  Jericho  hereby
offers to purchase the Property  from the Vendor and the Vendor hereby agrees to
sell the Property to Jericho.


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2.2      Consideration
         -------------
In consideration for the sale by the Vendor to Jericho of the Property,  Jericho
will pay the Purchase Price for the Property to the Vendor on the Closing date.

3.       REPRESENTATIONS AND WARRANTIES

3.1      Representations and Warranties of The Vendor
         --------------------------------------------
The Vendor  represents  and  warrants to and in favour of the Jericho as follows
and  acknowledges  that  Jericho  is  relying  upon  such   representations  and
warranties in consummating the transactions contemplated by this Agreement:

          (a)  This Agreement has been duly executed and delivered by the Vendor
               and constitutes a valid and binding obligation of the Vendor in
               accordance with its terms;

          (b)  Schedule 1 hereto contains an accurate and complete description
               of the Property;

          (c)  No person has any agreement or option or any right or privilege
               (whether by law, pre-emptive or contractual) capable of becoming
               an agreement or option for the purchase from the Vendor of any
               interest in the Property;

          (d)  The entering into, execution, delivery and performance by the
               Vendor of this Agreement will not violate or contravene or
               conflict with or result in a breach of or default or give rise to
               any right of termination, acceleration, cancellation or
               modification under any of the terms and conditions of any
               contract, agreement, commitment, arrangement or understanding
               pursuant to which the Vendor holds or has acquired its interest
               in the Property or any other contract, agreement, commitment,
               arrangement, understanding or restriction, written or oral, to
               which the Vendor is a party or by which it is bound;

          (e)  To the best of the knowledge of the Vendor after due enquiry,
               there are no legal conflicts of any nature and no investigations
               or legal or administrative affairs pending against the Vendor in
               connection with the Property or for any other cause and there is
               no pending or threatened decree, decision, sentence, injunction,
               order or award of any court, arbitral tribunal or governmental
               authority or any action, procedure, arbitration, administrative
               or judicial investigation, actual or threatened, with respect to
               the Vendor or the Property;

          (f)  The Vendor holds all right, title and interest in and to the
               Property, and the Property is free of any lien, claim, pledge,
               privilege, levy, lease, sublease or rights of any person and
               other than government royalties, government work requirements and
               other conditions imposed by a governmental authority;

3.2      Representations and Warranties of Jericho
         -----------------------------------------
Jericho  represents  and  warrants to and in favour of the Vendor as follows and
acknowledges  that  the  Vendor  are  relying  upon  such   representations  and
warranties in consummating the transactions contemplated by this Agreement:


<PAGE>


          (a)  Jericho is a corporation duly incorporated and validly subsisting
               and in good standing in the State of Nevada;

          (b)  Jericho has the corporate power and authority to enter into this
               Agreement and to perform its obligations hereunder;

          (c)  The execution and delivery of this Agreement and the completion
               of the transactions contemplated herein will constitute a valid
               and binding obligation of Jericho enforceable against it in
               accordance with its terms;

          (d)  The entering into, execution, delivery and performance by the
               Jericho of this Agreement will not violate or contravene or
               conflict with or result in a breach of or default or give rise to
               any right of termination, acceleration, cancellation or
               modification under any of the terms and conditions of any
               contract, agreement, commitment, arrangement, understanding or
               restriction, written or oral, to which Jericho is a party or by
               which it is bound or under the constating documents or directors'
               or shareholders' resolutions of Jericho;

4.       CLOSING

4.1      Time and Place of Closing
         -------------------------
The closing (the  "Closing") of this Agreement will take place at the offices of
Jericho at 2:00 p.m. (Vancouver time) on July ____, 2004.

4.2      Closing Documents
         -----------------
At Closing, the parties hereto will table the following documents:

          (a)  Documents of The Vendor: The Vendor will table for delivery to
               Jericho title transfer documents relating to the Property in a
               form acceptable to Jericho's legal counsel.

          (b)  Documents of Jericho. Jericho will table for delivery to the
               Vendor a certified check, or a check issued from an attorney's
               trust account for $7,250 made payable to the Vendor.

5.       TERMINATION

5.1      Mutual Termination
         ------------------
This  Agreement  may,  prior to Closing,  be terminated by the parties hereto by
mutual agreement in writing notwithstanding anything contained herein.



6.       GENERAL PROVISIONS

6.1      Time of Essence
         ---------------
Time  is and  will  be of the  essence  of  each  and  every  provision  of this
Agreement.


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6.2      Finder's Fees and Brokers' Commission
         -------------------------------------
Each of the parties hereto  represents to the other that it has not incurred any
liability for any finders' fee or brokers'  commission  in  connection  with the
execution of this Agreement or the consummation of the transactions contemplated
herein.

6.3      Expenses
         --------
Jericho will be  responsible  for all fees and expenses in  connection  with the
preparation,  execution and delivery of this Agreement and the  preparation  and
completion  of all  other  agreements,  documents,  approvals  and  transactions
contemplated by this Agreement.

6.4      Further Assurances
         ------------------
Each of the parties  hereto  will,  whether  before or after  Closing and at the
expense  of  Jericho,  execute  and  deliver  all  such  further  documents  and
instruments,  give all such further assurances,  and do all such acts and things
as may  reasonably  be required to carry out the full intent and meaning of this
Agreement.

6.5      Entire Agreement
         ----------------
This  Agreement and the Schedule  hereto contain the whole  agreement  among the
parties  hereto in respect of the  subject  matter  hereof  and  supersedes  and
replaces all prior negotiations,  communications and correspondence  between the
parties hereto. There are no warranties,  representations,  terms, conditions or
collateral  agreements,  express or implied,  statutory or otherwise,  among the
Vendor and Jericho other than as expressly  set forth in this  Agreement and the
Schedule hereto.

6.6      Enurement
         ---------
This  Agreement  will enure to the  benefit  of and be binding  upon each of the
parties  hereto  and their  respective  successors,  liquidators  and  permitted
assigns.

6.7      Assignment
         ----------
No party  hereto may assign any of its right,  title or interest in, to or under
this  Agreement,  nor will any such  purported  assignment  be valid amongst the
parties  hereto,  except with the prior written  consent of all parties  hereto,
such consent not to be unreasonably withheld.

6.8      Governing Law
         -------------
This Agreement will be construed and  interpreted in accordance with the laws of
the  Province  of British  Columbia,  Canada  and the laws of Canada  applicable
therein.  The  parties  hereto  irrevocably  attorn to the  jurisdiction  of the
arbitrators and courts of the Province of British Columbia, Canada and the venue
for any actions or arbitrations arising out of this Agreement will be Vancouver,
Canada.


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6.9      Notices
         -------
All notices,  payments,  and other  required  communications  ("Notices") to the
parties  hereto  shall be in  writing  and shall be  addressed  respectively  as
follows:

(a)      If to Jericho:

                           Jericho Minerals Inc.
                           2255 West 4th Avenue, Suite 312
                           Vancouver, Briitsh Columbia
                           V6K 1N9

(b)      If to the Vendor:

                           Steven Bekroploulos
                           4555 Blenheim Street
                           Vancouver, British Columbia
                           V6L 3A1

All notices  shall be given (i) by  personal  delivery to the party by leaving a
copy at the place  specified  for notice with a  receptionist  or an  apparently
responsible  individual,  or (ii) by  electronic  facsimile  communication.  All
notices  will be  effective  and will be  deemed  delivered  (i) if by  personal
delivery, on the date of delivery if delivered during normal business hours and,
if not  delivered  during  normal  business  hours,  on the  next  business  day
following  delivery,  and  (ii)  if by  electronic  communication,  on the  next
business day following receipt of the electronic  communication.  A party hereto
may change its address for notice by notice to the other party.

<PAGE>

6.10     Counterparts
         ------------
This Agreement,  and any  certificates or other writing  delivered in connection
herewith,  may be executed in any number of counterparts with the same effect as
if all  parties  hereto  had  all  signed  the  same  documents,  and  all  such
counterparts  will be construed  together and will  constitute  one and the same
instrument.  The execution of this  Agreement and any other writing by any party
hereto  or  thereto  will not  become  effective  until  counterparts  hereof or
thereof,  as the case may be, have been  executed  by all the parties  hereto or
thereto,  and executed  copies  delivered to each party who is a party hereto or
thereto.  Such delivery may be made by facsimile  transmission  of the execution
page or pages,  hereof or  thereof,  to each of the other  parties  by the party
signing the particular counterpart, provided that forthwith after such facsimile
transmission,  an originally  executed  execution  page or pages is forwarded by
prepaid  express  courier to the other party by the party signing the particular
counterpart.


The parties  hereto have  executed and delivered  this  Agreement as of the date
first written above.

JERICHO MINERALS INC.

Per:
         Joy Clifton
         President




-----------------------------
Steven Bekropoulos

<PAGE>

                                   Schedule 1

                             Description of Property



               Claim Name                              Tenure Number
               ----------                              -------------
                 Yarnet 1                                 412190
                 Yarnet 2                                 412191
                 Yarnet 3                                 412192
                 Yarnet 4                                 412193
                 Yarnet 5                                 412194
                 Yarnet 6                                 412195
                 Yarnet 7                                 412196
                 Yarnet 8                                 412197