EXHIBIT 10.13(b)

                   CATERPILLAR FINANCIAL SERVICES CORPORATION

                                                                   FINANCE LEASE

                                     Date as of     8/23/02
                                               ---------------------------------

LESSEE:  FLORIDA CANYON MINING, INC.        LESSOR: CATERPILLAR
                                            FINANCIAL SERVICES
                                            CORPORATION

ADDRESS:  P.O.  Box  330                    ADDRESS:  2120 West End Avenue
          Imlay, NV  89418                            Nashville,  TN  37203

Lessor,  in  reliance in Lessee's selection of this equipment described below as
("Unit"  or "Units") agrees to acquire and lease the Units to Lessee, and Lessee
agrees to lease the Units then Lessor, subject to the terms and conditions below
and  on  the  reverse  side:

Description of Unit(s)                   Serial #   Monthly Rent   Final Payment
------------------------                ---------   -----------    -------------
(1) New  992G Caterpillar Wheel Loader   ADZ00453    $36,241.75           $1.00




Rent to be paid in advance (starts on Delivery Date) and every month thereafter.

Lease  Terms: 48 months                    Utilization Date:  September 28, 2002

The  [____]  Mandatory  Final  Payment (Section 13) (_X_) Optional Final Payment
(Section  14)  is  applicable  to  this  Lease  (check  one).
Location  of  Units:    I-80  EXIT  138
                        IMLAY, NV  89418  PERSHING
ADDITIONAL  PROVISIONS:                    RIDERS:


                              TERMS AND CONDITIONS

1.  LEASE TERM:  The lease term for each Unit shall start on its Delivery Date
(the date) (a) Lessor executes this Lease, (b) Lessor takes title to the Unit,
or (c) Lessee or its agent takes control of physical possession of the Unit,
whichever is latest, provided the Delivery Date is on or before the utilization
date stated above, and shall continue for the number of months stated above.  If
the Delivery Date is not on or before the utilization date, Lessee shall, at the
option of Lessor, assume Lessor's obligation to purchase and pay for the Unit.
Lessee shall execute and send Lessor's delivery supplement to Lessor promptly
after delivery of a Unit.


<PAGE>
2.  RENT:  Lessee shall pay to Lessor, at P.O. Box 100647, Pasadena, CA
91189-0647 or such other location Lessor designates in writing, rent for each
Unit as stated above starting (a) on its Delivery Date if the rent is to be paid
in advance, or (b) one month (or other period as stated above) after its
Delivery Date if the rent is to be paid in arrears. An amount equal to the first
rent payment for each Unit must accompany this document when it is submitted to
Lessor. If Lessor executes this document, the amount shall be the first made
payment. If Lessor does not execute this document, the amount shall be returned
to Lessee. If Lessor does not receive a rent payment on the date it is due,
Lessee shall pay to Lessor, on demand, a late payment charge equal to five
percent (5%) of the rent payment not paid when due or the highest charges
allowed by law, whichever is less.

3.  NO ABATEMENT:  Lessee shall not be entitled to abatement or reduction of
rent or setoff against rent for any reason whatsoever.  Except as otherwise
provided, this Lease shall not terminate because of, nor shall the obligations
of Lessor or Lessee be affected by damage to, any defect in, destruction of, or
loss of possession or use of a Unit; the attachment of any lien, security
interest or other claim to a Unit, any interference with Lessee's use of Unit,
Lessee's insolvency or the commencement of any bankruptcy or similar proceeding
by or against Lessee, or any other cause whatsoever.

4.  DISCLAIMER OF WARRANTIES:  Lessee acknowledges and agrees that Lessor is not
the manufacturer of the Unit(s) and that Lessee has selected each Unit based on
Lessee's own judgment without any reliance whatsoever on any statements or
representations made by Lessor.  AS BETWEEN LESSOR AND LESSEE, THE UNIT(S) ARE
PROVIDED "AS IS" WITHOUT ANY WARRANTIES OF ANY KIND.  LESSOR HEREBY EXPRESSLY
DISCLAIMS  a) ALL WARRANTIES OF MERCHANTABILITY, b) ALL WARRANTIES OF FITNESS
FOR A PARTICULAR PURPOSE, AND c)ALL WARRANTIES AGAINST INFRINGEMENT OR THE LIKE.
Lessor assigns to Lessee its interest in any of the manufacturer's warranties on
the Unit(s).

5.  POSSESSION, USE AND MAINTENANCE:  Lessee shall not (a) use, operate,
maintain or store a Unit improperly, carelessly, unsafely or in violation of any
applicable law or regulation or for any purpose other than in the conduct of
Lessee's business; (b) abandon a Unit; (c) sublease a Unit, permit the use of a
Unit by anyone other than Lessee, change the use of Unit from that specified in
the Application Survey/Usage Rider attached hereto, or change the location of a
Unit from that specified above, without the prior written consent of Lessor; or
(d) create or allow to exist any lien, claim, security interest or encumbrance
on any of its rights hereunder or a Unit.  A Unit is and shall remain personal
property regardless of its use or manner of attachment to realty.  Lessor and
its agent shall have the right (but not the obligation) to inspect a Unit and
maintenance records relating to it and observe its use.  Lessee, at its expense,
shall maintain each Unit in good operating order, repair and condition and shall
perform maintenance at least as frequently as stated in any applicable
operator's guide, service manual, or lubrication and maintenance guide.  Lessee
shall not alter any Unit or affix any accessory or equipment to it if doing so
will impair its originally intended function or use or reduce its value.  Any
alteration or addition to a Unit shall be the responsibility of and at the sole
risk of Lessee.  All parts, accessories and equipment affixed to a Unit shall be
subject to the security interest of Lessor.


<PAGE>
6.  TAXES:  Lessee shall promptly pay or reimburse Lessor for all fees, charges
and taxes of any nature, including, without limitation, personal property taxes,
together with any penalties, fines or additions to tax and interest thereon
(collectively.  "Taxes") levied on or assessed against Lessor in connection with
the ownership, leasing, rental, sale, possession, purchase, or use of a Unit;
excluding however, all charges or taxes on or measured by Lessor's net income or
charges or taxes levied on or assessed against Lessor in connection with a Unit
after the Unit is returned to Lessor in accordance with the terms of this Lease.
If the reimbursement to Lessor of Taxes constitutes income for federal, state or
local tax purposes and if the Lessor is not entitled to a deduction for the full
amount of the reimbursement, the Lessee shall pay the Lessor an additional
amount such that the net amount received by Lessor after payment of all related
Taxes equals the amount which Lessor would have received if no such Taxes were
payable.  Lessee shall prepare and timely file, in a manner satisfactory to
Lessor, any reports or returns which may be required with respect to a Unit,
including, without limitation, personal property tax returns.  For purposes of
this section, in computing Lessor's Taxes attributable to a reimbursement, it
shall be assumed that the Lessor is in the highest marginal tax rate applicable
to corporations at the time the reimbursement is made, and that the term
"Lessor" shall include any affiliated group, within the meaning of Section 1504
of the Internal Revenue Code of 1986, of which Lessor is a member for any year
in which a consolidated combined income tax return is filed for the affiliated
group.

7.  LOSS OR DAMAGE:  Lessee shall bear the risk, of any Casualty Occurrence (the
Unit is worn out, lost, stolen, destroyed, taken by government action or, in
Lessors opinion, irreparably damaged) or other damage from the time it is
purchased by Lessor until it is returned to Lessor. Lessee shall give Lessor
prompt notice of a Casualty Occurrence or other damage. If, in Lessor's opinion
the damage is not a Casualty Occurrence, Lessee shall, on its expense, promptly
restore the Unit to the condition required by Section 5. If a Casualty
Occurrence, Lessee shall pay to Lessor on the first rent payment due following
the Casualty Occurrence (thirty (30) days after the Casualty Occurrence if there
is no rent payment date remaining) the lessee of (a) the sum of (i) all amounts
then due under this Lease with respect to the Unit, (ii) the present value of
all unpaid rent for the Unit, and (iii) the present value of the Purchase Price
of the Unit as stated on the front hereof; of (b) the maximum amount permitted
by law. Present values will be determined by discounting at the implicit
interest rate of this Lease. Upon making this payment, the lease term with
respect to the Unit shall terminate and Lessee shall be entitled to possession
of the Unit and to any recovery in respect to it (subject to the rights of any
insurer).

8.  WAIVER AND INDEMNITY:  LESSEE HEREBY AGREES TO RELEASE, DEFEND, INDEMNIFY
AND HOLD HARMLESS LESSOR, ITS DIRECTORS, OFFICERS, EMPLOYEES, AGENTS AND ASSIGNS
FROM AND AGAINST ANY CLAIMS OF LESSEE OR THIRD PARTIES INCLUDING CLAIMS BASED
UPON BREACH OF CONTRACT, BREACH OF WARRANTY, PERSONAL INJURY, PROPERTY DAMAGE,
STRICK LIABILITY OR NEGLIGENCE FOR ANY LOSS, DAMAGE OR INJURY CAUSED BY OR
RELATING TO THE DESIGN, MANUFACTURE, SELECTION, DELIVERY, CONDITION, OPERATION,
USE, OWNERSHIP, MAINTENANCE OR REPAIR OF ANY UNIT.  FURTHER, LESSEE AGREES TO BE
RESPONSIBLE FOR ALL COSTS AND EXPENSES, INCLUDING REASONABLE ATTORNEY'S FEES
INCURRRED BY LESSOR OR ITS DIRECTORS, OFFICERS, EMPLOYEES, AGENTS AND ASSIGNS IN
DEFENDING SUCH CLAIMS OR IN ENFORCING THIS PROVISION.  UNDER NO CONDITION OR


<PAGE>
CAUSE OF ACTION SHALL LESSOR BE LIABLE FOR ANY LOSS OF ACTUAL OR ANTICIPATED
BUSINESS OR PROFITS OR ANY SPECIAL, INDIRECT OR CONSEQUENTIAL DAMAGES.

9.  INSURANCE: Lessee at its expense, shall have each Unit insured for the
benefit of Lessor against all risks for not less than the amount described in
Section 7 and shall maintain comprehensive public liability insurance (including
product and broad form contractual liability) covering the Unit for not less
than $1,000,000 combined coverage for bodily injury and property damage.  All
insurance shall be in a form and with companies as Lessor shall approve, shall
specify Lessor and Lessee as name insured, shall be primary, without the right
of contribution from any other insurance carried by Lessor, and shall provide
that the insurance may not be canceled or altered so as to affect the interest
of Lessor without at least to (10) days' prior written notice to Lessor.  All
insurance covering loss or damage to a Unit shall name Lessor as loss payee.
Lessee shall not make adjustments with insurers except with Lessor's prior
written consent and hereby irrevocably appoints Lessor as Lessee's
attorney-in-fact to receive payment of and to endorse all checks, drafts and
other documents and to take any other actions necessary to pursue insurance
claims and recover payments if Lessee fails to do so.   Lessee shall promptly
notify Lessor of any occurrence which may become the basis of a claim and shall
provide Lessor with all requested pertinent data.  Lessee shall promptly deliver
to Lessor evidence of such insurance coverage.

10.  EVENTS OF DEFAULT:  Each of the following constitutes an event of default
("Event of Default"); (a) Lessee fails to make any payment when due; (b) any
representation of warranty to Lessor which is incorrect or misleading; (c)
Lessee fails to observe or perform any covenant, agreement or warranty made by
Lessee and the failure continues for ten (10) days after written notice to
Lessee; (d) any default occurs under any other agreement between Lessee and
Lessor or any affiliate of Lessor; (e) Lessee or any guarantor of this Lease
ceases to do business, becomes insolvent, makes an assignment for the benefit of
creditors or files any petition or action under any bankruptcy, reorganization,
insolvency or moratorium law, or any other law or laws for the relief of, or
relating to, debtors; (f) filing of any involuntary petition under any
bankruptcy statute against Lessee or any guarantor of this Lease, or appointment
of a receiver, trustee, custodian or similar official to take possession of the
properties of Lessee or any guarantor of this Lease, unless the petition or
appointment ceases to be in effect within thirty (30) days after filing or
appointment; and (g) breach or repudiation of a guaranty obtained by Lessor in
connection with this Lease.

11.  REMEDIES:  If an event of Default occurs, Lessor may (a) proceed by court
action to enforce performance by Lessee of the covenants of this Lease or to
recover damages for their breach or (b) by notice in writing to Lessee terminate
this Lease, in which event Lessee shall remain liable as provided herein and
Lessor may do any one or more of the following: (i) declare the balance due (or
the maximum amount permitted by law if recovery of the entire balance due is
prohibited) with respect to each Unit immediately due and payable and recover
any additional damages and expenses sustained by Lessor due to breach of any
covenant, representations or warranty in this Lease other than for the payment
of rent; (ii) enforce the security interest granted herein; (iii) require Lessee
to return each Unit and additional security pursuant to Section 12; and (iv)
enter the premises where any Unit or additional security may be and take


<PAGE>
possession of it without notice, liability or legal process.  Lessee agrees to
pay all charges, costs, expenses and reasonable attorney's fees incurred by
Lessor in enforcing this Lease.  Lessor has all rights given to a secured party
by law.  Lessor may undertake commercially reasonable efforts to sell or release
a Unit and additional security, and the proceeds of any sale or re-lease shall
be applied in the following order: (i) to reimburse Lessor for all expenses of
retaking, holding, preparing for sale or re-lease and selling or re-leasing the
Unit and additional security, including any taxes, charges, costs, expenses and
reasonable attorney's fees incurred by Lessor; (ii) to pay Lessor all amounts
which under the terms of this Lease are due or have accrued as of the date of
Lessor's receipt of the proceeds; and (iii) to pay Lessor the balance due (or
the maximum amount permitted by law if recovery of the entire balance due is
prohibited) with respect to the Unit and additional security.  Any surplus shall
be paid to the person entitled to it.  Lessee shall promptly pay any deficiency
to Lessor.  Lessee acknowledges that sales for cash or credit to a wholesaler,
retailer or user of a Unit or additional security are all commercially
reasonable.  The remedies provided to Lessor shall be cumulative and shall be in
addition to all other remedies existing at law or in equity.  If Lessee fails to
perform any of its obligations under this Lease, Lessor may perform the
obligations, and the expenses incurred by Lessor as a result shall be payable by
Lessee upon demand.

12.  RETURN OF UNIT:  If Lessor shall rightfully demand possession of a Unit,
Lessee, at its expense, shall promptly deliver possession of the Unit to Lessor,
properly protected and  in the condition required by Section 5, at the option of
Lessor, (a) to the premises of the nearest Caterpillar dealer selling equipment
of the same type as the Unit, or (b) on board a carrier named by Lessor and
shipping it, freight collect, to the destination designated by Lessor.  If the
Unit is not in the condition required by Section 5, Lessee shall bay to Lessor,
on demand, all costs and expenses incurred by Lessor to bring the Unit into the
required condition.

13.  MANDATORY AND FINAL PAYMENT:  If the Mandatory Final Payment box is
checked, at the end of lease term with respect to a Unit, provided this Lease
has not been terminated with respect to it, Lessee shall pay the Final Payment
stated on the front hereof.  Upon receipt of the Final Payment, and all other
amounts due under this Lease, plus an amount equal to any taxes due in
connection with the transfer of the Unit or the delivery of the bill of sale,
Lessor shall deliver to Lessee, upon request, a bill of sale without warranties
except that the Unit is free of all encumbrances of any person claiming through
Lessor.  Lessee shall purchase the Unit "AS IS, WHERE IS, WITH ALL FAULTS."

14.  OPTIONAL FINAL PAYMENT:  If the Optional Final Payment box is checked and
if no Event of Default shall have occurred and be continuing, Lessee may, by
notice delivered to Lessor not less than sixty (60) days prior to the end of the
lease term with respect to a Unit, elect to pay the Final Payment stated on the
front.  Payment of the Final Payment shall be due at the end of the lease term.
Upon payment of the Final Payment and all other amounts due under this Lease,
plus an amount equal to any taxes due in connection with the transfer of the
Unit or the delivery of the bill of sale, Lessor shall deliver to Lessee, upon
request a bill of sale without warranties except that the Unit is free of all
encumbrances of any person claiming through Lessor.  Lessee shall purchase the
Unit "AS IS, WHERE IS, WITH ALL FAULTS".  If Lessee does not elect to pay the
Final Payment, Lessee, upon expiration of the lease term, shall return the Unit
to Lessor as provided in Section 12 and furnish Lessor with documentation, as


<PAGE>
Lessor may reasonably request, conveying to Lessor all of the Lessee's right,
title and interest in the Unit, free and clear of all liens, claims, security
interests and encumbrances other than those of Lessor.

15.  SECURITY INTEREST:  LESSEE REPRESENTATIONS:  Unless applicable law provides
otherwise, title to a Unit shall remain in Lessor as security for the
obligations of Lessee hereunder until Lessee has fulfilled all of its
obligations.  Lessee hereby grants to Lessor a continuing security interest in
the Unit, including all attachments, accessories and optional features therefor
(whether or not installed thereon) and all substitutions, replacements,
additions, and accessions thereto, and proceeds of all of the foregoing,
including, but not limited to, proceeds in the form of chattel paper to secure
the payment of all sums due hereunder.  Lessee will, at its expense, do any act
and execute, acknowledge, deliver, file, register and record any documents which
Lessor deems desirable in its discretion to protect Lessor's security interest
in the Unit and Lessor's rights and benefits under this Lease.  Lessee hereby
irrevocably appoints Lessor as Lessee's Attorney-in-Fact for the signing and
filing of such documents and authorizes Lessor to delegate these limited powers.
Lessee represents and warrants to Lessor that (a) Lessee has the power to make,
deliver and perform under this Lease, (b) the person executing and delivering
this Lease is authorized to do so on behalf of Lessee, and (c) this Lease
constitutes a valid obligation of Lessee, legally binding upon it and
enforceable in accordance with its terms.  Lessee shall, during the lease term,
display in a prominent place on the Unit labels supplied by Lessor stating that
the Unit is leased from Lessor.  Lessee further represents and warrants to
Lessor that Lessee is and shall remain a Corporation registered in the state of
NV ("Business Location"); and Lessee will not change its form of business
organization or Business Location without prior written notice to Lessor.

16.  ASSIGNEMNT COUNTERPARTS:  The rights of Lessor under this Lease and title
to the Unit may be assigned by Lessor at any time.  If notified by Lessor,
Lessee shall make all payments due under this Lease to the party designated in
the notice, without offset or deduction.  No assignment of this Lease or any
right or obligation under it may be made by Lessee without the prior written
consent of Lessor.  This Lease shall be binding upon and benefit Lessor and
Lessee and their respective successors and assigns.  If this Lease is assigned
by Lessor to a partnership or trust, the term "Lessor" shall thenceforth mean
and include the partnership or trust and shall also include, for purposes of
Sections 4, 5, 6, 7, 8 and 9, each partner in or beneficiary of the partnership
or trust.  Although multiple counterparts of this document may be signed, only
the counterpart accepted, acknowledged and certified by Caterpillar Financial
Services Corporation on the signature page thereof as the original will
constitute original chattel paper.

17.  EFFECT OF WAIVER;  ENTIRE AGREEMENT; MODIFICATION OF LEASE; NOTICES:  A
delay or omission by Lessor to exercise any right or remedy shall not impair any
right or remedy and shall not be construed as a waiver of any breach or default.
Any waiver or consent by Lessor must be in writing.  This Lease completely
states the rights of Lessor and Lessee and supersedes all prior agreements with
respect to the Unit.  No variations or modification of this Lease shall be valid
unless in writing.  All notices shall be in writing, addressed to the other
party at the address stated on the front or at such other address as may
hereafter be furnished in writing.


<PAGE>
18.  APPLICABLE LAW, JURISDICTION AND JURY TRIAL WAIVER PROVISIONS:  This
Agreement shall be governed by and construed under the laws of the Sate of
Tennessee without giving effect to the conflict-of-laws principles thereof, and
Lessee hereby consents to the jurisdiction of any state or federal court located
within the State of Tennessee.  THE PARTIES HERETO HEREBY WAIVE THE RIGHT TO
TRIAL BY JURY IN ANY ACTION ARISING OUT OF OR RELATED TO THIS AGREEMENT, THE
OBLIGATIONS OR THE COLLATERAL.

19.  SEVERABILITY, SURVIVAL OF COVENANTS:  If any provision of this Lease shall
be invalid under any law, it shall be deemed omitted but the remaining
provisions hereof shall be given effect.  All obligations of Lessee under this
Lease shall survive the expiration or termination of this Lease to the extent
required for their full observance and performance.


Lessee:  FLORIDA CANYON MINING, INC.     Lessor: CATERPILLAR
                                                 FINANCIAL SERVICES
                                                 CORPORATION

By /s/  RL Chapman                              By  /s/ Bill Schowaiter
  ------------------------------------             -----------------------------

Name (Print)  RL Chapman                        Name (Print)  Bill Schowaiter
            --------------------------                      --------------------

Title      Vice President                       Title  Documentation Manager
     ---------------------------------               ---------------------------

Date  8/12/02                                   Date  8/23/02
    ----------------------------------              ----------------------------


<PAGE>
                              AMORTIZATION SCHEDULE
                                (Multiple Assets)

              Quote Number . . . . . . . . . . . . . . . . 131-081
              365 day calculations . . . . . . . . . . . . 360/360

           Customer . . . . . . . . . .FLORIDA CANYON MINING, INC.
              Model . . . . . . . . . . . . . . .992G Wheel Loader

<TABLE>
<CAPTION>
     NUMBER OF
      PAYMENTS     STARTING                                        INTEREST                   ENDING
DATE      MADE     BALANCE    LOAN        PAYMENTS     OPTION      3.61500%    PRINCIPAL     BALANCE
<S>        <C> <C>           <C>           <C>        <C>         <C>        <C>         <C>
MAY-30-02   1          0.00  1,627,780.09  36,241.75    0.00           0.00   36,241.75  1,586,048.34
JUN-30-02   2  1,586,048.34          0.00  36,241.75    0.00       4,777.97   31,463.78  1,554.584.56
JUL-30-02   3  1,554,584.56          0.00  36,241.75    0.00       4,683.19   31,558.56  1,523,025.99
AUG-30-02   4  1,523,025.99          0.00  36,241.75    0.00       4,588.12   31,653.63  1,491,372.36
SEP-30-02   5  1,491,372.36          0.00  36,241.75    0.00       4,492.76   31,748.99  1,459,623.37
OCT-30-02   6  1,359,623.37          0.00  36,241.75    0.00       4,397.12   31,844.63  1,427,778.73
NOV-30-02   7  1,427,778.73          0.00  36,241.75    0.00       4,301.18   31,940.57  1,395,838.17
DEC-30-02   8  1,395,838.17          0.00  36,241.75    0.00       4,204.96   32,036.79  1,363,801.38

                             ------------ ----------    ----      ---------  ----------
                             1,622,290.09 289,934.00    0.00      31,445.30  258,488.70

JAN-30-03   9  1,363,801.38          0.00  36,241.75    0.00       4,108.45   32,133.30  1,331,668.08
FEB-30-03  10  1,331,668.08          0.00  36,241.75    0.00       4,011.65   32,230.10  1,299,437.98
MAR-30-03  11  1,299,437.98          0.00  36,241.75    0.00       3,914.56   32,327.19  1,267,110.78
APR-30-03  12  1,267,110.78          0.00  36,241.75    0.00       3,817.17   32,424.58  1,234,686.20
MAY-30-03  13  1,234,686.20          0.00  36,241.75    0.00       3,719.49   32,522.26  1,202,163.95
JUN-30-03  14  1,202,163.95          0.00  36,241.75    0.00       3,621.52   32,620.23  1,169,543.71
JUL-30-03  15  1,169,543.71          0.00  36,241.75    0.00       3,523.25   32,718.50  1,136,825.21
AUG-30-03  16  1,136,825.21          0.00  36,241.75    0.00       3,424.69   32,817.06  1,104,008.15
SEP-30-03  17  1,104,008.15          0.00  36,241.75    0.00       3,325.82   32,915.93  1,071,092.22
OCT-30-03  18  1,071,092.22          0.00  36,241.75    0.00       3,226.67   33,015.08  1,038,077.14
NOV-30-03  19  1,038.077.14          0.00  36,241.75    0.00       3,127.21   33,114.54  1,004,962.59
DEC-30-03  20  1,004,962.59          0.00  36,241.75    0.00       3,027.45   33,214.30    971,748.29

                             ------------ ----------    ----      ---------  ----------
                                     0.00 434,901.00    0.00      42,847.93  392,053.07

JAN-30-04  21    971,748.29          0.00  36,241.75    0.00       2,927.39   33,314.36    938,433.93
FEB-30-04  22    938,433.93          0.00  36,241.75    0.00       2,827.03   33,414.72    905,019.22
MAR-30-04  23    905,019.22          0.00  36,241.75    0.00       2,726.37   33,515.38    871,503.84
APR-30-04  24    871,503.84          0.00  36,241.75    0.00       2,625.41   33,616.34    837,887.49
MAY-30-04  25    837,887.49          0.00  36,241.75    0.00       2,524.14   33,717.61    804,169.88
JUN-30-04  26    804,169.88          0.00  36,241.75    0.00       2,422.56   33,819.19    770,350.69
JUL-30-04  27    770,350.69          0.00  36,241.75    0.00       2,320.68   33,921.07    736,429.62
AUG-30-04  28    736,429.62          0.00  36,241.75    0.00       2,218.49   34,023.26    702,406.36
SEP-30-04  29    702,406.36          0.00  36,241.75    0.00       2,116.00   34,125.75    668,280.61
OCT-30-04  30    668,280.61          0.00  36,241.75    0.00       2,013.20   34,228.55    634,052.06
NOV-30-04  31    634,052.06          0.00  36,241.75    0.00       1,910.08   34,331.67    599,720.39
DEC-30-04  32    599,720.39          0.00  36,241.75    0.00       1,806.66   34,435.69    565,285.30

                             ------------ ----------    ----      ---------  ----------
                                     0.00 434,901.00    0.00      28,438.01  406,462.99

JAN-30-05  33    565,285.30          0.00  36,241.75    0.00       1,702.92   34,538.83    530,746.47
FEB-30-05  34    530,746.47          0.00  36,241.75    0.00       1,598.87   34,642.88    496,103.59
MAR-30-05  35    496,103.59          0.00  36,241.75    0.00       1,494.51   34,747.24    461,356.35
APR-30-05  36    461,356.35          0.00  36,241.75    0.00       1,389.84   34,851.91    426,504.44
MAY-30-05  37    426,504.44          0.00  36,241.75    0.00       1,284.84   34,956.91    391,547.53
JUN-30-05  38    391,547.53          0.00  36,241.75    0.00       1,179.54   35,062.21    356,485.32
JUL-30-05  39    356,485.32          0.00  36,241.75    0.00       1,073.91   35,167.84    321,317.48
AUG-30-05  40    321,317.48          0.00  36,241.75    0.00         967.97   35,273.78    286,043.70
SEP-30-05  41    286,043.70          0.00  36,241.75    0.00         861.71   35,380.04    250,663.66
OCT-30-05  42    250,663.66          0.00  36,241.75    0.00         755.12   35,486.63    215,177.03
NOV-30-05  43    215,177.03          0.00  36,241.75    0.00         648.22   35,593.53    179,583.50
DEC-30-05  44    179,583.50          0.00  36,241.75    0.00         541.00   35,700.75    143,882.75

                             ------------ ----------    ----      ---------  ----------
                                     0.00 434,901.00    0.00      13,498.45  421,402.55
</TABLE>


<PAGE>
                              AMORTIZATION SCHEDULE
                                (Multiple Assets)

                Quote Number . . . . . . . . . . . . . . . . 131-080
                365 day calculations . . . . . . . . . . . . 360/360

                Customer . . . . . . . . . . FLORIDA CANYON MINING, INC.
                Model . . . . . . . . . . . . . . .992G Wheel Loader

<TABLE>
<CAPTION>
           NUMBER OF
           PAYMENTS     STARTING                                           INTEREST                    ENDING
DATE       MADE         BALANCE         LOAN        PAYMENTS   OPTION      3.61500%     PRINCIPAL      BALANCE
<S>        <C>          <C>             <C>         <C>        <C>         <C>         <C>           <C>
Jan-30-06    45         143,882.75         0.00    36,241.75    0.00         433.45     35,808.30   108,074.44
Feb-30-06    46         108,074.44         0.00    36,241.75    0.00         325.57     35,916.18    72,158.27
Mar-30-06    47          72,158.27         0.00    36,241.75    0.00         217.38     36,024.37    36,133.89
April-30-06  48          36,133.80         0.00    36,241.75    0.00         108.85     36,132.90         1.00
May-30-06    49               1.00         0.00         0.00    1.00          -0.03          1.03        0.00

                                   ------------ ------------   -----     ----------  ------------
                                           0.00   144,967.00    1.00       1,085.22    143,882.78

                                   1,622,290.09 1,739,604.00    1.00     117,314.91  1,622,290.09
                                   ------------ ------------   -----     ----------  ------------
</TABLE>


Ending balance not equal to early buy out amount.


<PAGE>
                               GUARANTY OF PAYMENT

     THIS GUARANTY ("Guaranty") is made and entered into as of ______________ by
and  between  each of the undersigned parties (hereinafter, referred to in their
individual  capacity  and  collectively as "Guarantor"), in favor of Caterpillar
Financial  Services  Corporation,  2120  West  End  Avenue, Nashville, Tennessee
37203-0001  (hereinafter  referred  to as "Caterpillar Financial"), guaranteeing
the  indebtedness  (as  hereinafter  defined)  of  FLORIDA  CANYON  MINING, INC.
(hereinafter  referred  to  as  "Obligor").

WITNESSETH:

FOR  VALUE  RECEIVED, and/or as an inducement to Caterpillar Financial to now or
hereafter  enter  into,  purchase  or otherwise acquire the agreements, accounts
and/or  other  obligations evidencing and/or securing Obligor's Indebtedness and
in consideration of and for credit and financial accommodations now or hereafter
extended  to  or  for  the  account  of  the Obligor (which includes Caterpillar
Financial's  consent  to  an  assignment and/or assumption of the indebtedness),
which  is  in  the  best  interest  of  Guarantor  and which would not have been
extended  but  for this Guarantor and which would not have been extended but for
this  Guaranty,  the  Guarantor  agrees  as  follows:

SECTION  1.  GUARANTY  OF  OBLIGOR'S INDEBTEDNESS.  Guarantor hereby absolutely,
-------------------------------------------------
irrevocably  and  unconditionally  agrees to, and by these presents does hereby:
(a)  guarantee  the prompt and punctual payment, performance and satisfaction of
all  present  and  future indebtedness and obligations of Obligor to Caterpillar
Financial which Obligor now owes Caterpillar Financial or which Obligor shall at
any  time or from time to time hereafter owe Caterpillar Financial when the same
shall become due in connection with or arising out of that certain Finance Lease
by and between Obligor and Caterpillar Financial dated ______________, including
any  and all existing and future additional schedules, amendments and/or related
agreements  thereto  (the  "Contract"),  whether direct or contingent, due or to
become  due, joint or several, primary of secondary, liquidated or unliquidated,
secured  or  unsecured,  original  or renewed or extended, or by open account or
otherwise,  and  whether  representing  rentals, principal, interest and/or late
charges  or  other  charges  of  an  original balance, an accelerated balance, a
balance  reduced  by  part  payment  or a deficiency after sale of collateral or
otherwise  and  (b)  undertake  and  guarantee  to  pay  on demand and indemnify
Caterpillar  Financial  against all liabilities, losses, costs, attorney's fees,
and  expenses  which  may  be  suffered  by  Caterpillar  Financial by reason of
Obligor's  default  or  default  of  the  Guarantor  (with  all  of  Obligor's
indebtedness  and/or  obligations as stated above (including all costs, fees and
expenses) being hereinafter individually and collectively referred to under this
Guaranty  as  Obligor's "indebtedness", which indebtedness shall be conclusively
presumed  to  have  been  created  in  reliance  upon  this  Guaranty).

SECTION  2.  JOINT,  SEVERAL  AND  SOLIDARY LIABILITY.  Guarantor further agrees
-----------------------------------------------------
that  its  obligations  and  liabilities  for  the  prompt and punctual payment,
performance  and  satisfaction  of Obligor's indebtedness are independent of any
agreement  or  transaction  with  any third parties and shall be on a "joint and
several"  and  "solidary" basis along with Obligor to the same degree and extent
as  if  Guarantor  had  been  and/or will be a co-borrower, co-principal obligor
and/or co-maker of Obligor's indebtedness.  In the event that there is more than


<PAGE>
one  guarantor  under  this  Guaranty,  or  in  the  event  that there are other
guarantors,  endorsers,  sureties  or any other party who may at any time become
liable  for  all  or  any  portion  of  Obligor's  indebtedness (each, an "Other
Obligor"),  the  provisions  hereof  shall  be read with all grammatical changes
thereby  rendered  necessary  and  each reference to the Guarantor shall include
each  and  every one of those parties liable for all or any portion of Obligor's
indebtedness  and each Guarantor's obligation and liabilities hereunder shall be
on  a  "joint  and several" and "solidary" basis along with such Other Obligors.

SECTION  3.  DURATION;  CANCELLATION OF GUARANTY.  This Guaranty and Guarantor's
------------------------------------------------
obligations  and  liabilities  hereunder  shall  remain in full force and effect
until  such  time  as  Obligor's  indebtedness  shall be fully and finally paid,
performed and/or satisfied, until such time as this Guaranty may be cancelled by
Caterpillar  Financial  under  a  written  cancellation  instrument  in favor of
Guarantor  or  otherwise  as  stated  herein.

SECTION 4.  DEFAULT BY OBLIGOR.  Immediately upon Obligor's default under any of
------------------------------
its  indebtedness  in  favor of Caterpillar Financial, Caterpillar Financial may
make  demand  upon Guarantor and Guarantor unconditionally and absolutely agrees
to  pay the full then unpaid amount of all of Obligor's indebtedness (whether at
stated maturity, by required prepayment, declaration, acceleration or otherwise)
and/or  perform any covenant or agreement hereunder guaranteed.  Such payment or
payments  shall be made immediately following demand by Caterpillar Financial at
Caterpillar  Financial's  offices  indicated  above.

SECTION  5.  ADDITIONAL  COVENANTS.  Guarantor  further  agrees that Caterpillar
----------------------------------
Financial  may,  at its sole option, at any time, and from time to time, without
the  consent  of  or  notice  to  Guarantor,  or to any other party, and without
incurring  any  responsibility  to  Guarantor or to any other party, and without
affecting,  impairing  or  releasing  the  obligations  of  Guarantor under this
Guaranty:  (a)  discharge  or  release any party (including, but not limited to,
Obligor,  secondary obligors or Obligor's indebtedness or any co-guarantor under
this  Guaranty)  who  is or may be liable to Caterpillar Financial for Obligor's
indebtedness;  (b)  sell  at  public or private sale, exchange, release, impair,
surrender, substitute, realize upon or otherwise deal with, in any manner and in
any order and upon such terms and conditions as Caterpillar Financial deems best
at  its  uncontrolled  discretion,  any  leased  equipment and/or any collateral
listed  in  the  Contract  or  now or hereafter otherwise directly or indirectly
securing  repayment  of Obligor's indebtedness (all such leased equipment and/or
all  such  collateral  shall  hereinafter  be  referred  to as the "Equipment"),
including without limitation, the purchase of all or any part of such collateral
for  Caterpillar  Financial's own account; (c) change the manner, place or terms
of  payment  and/or  available  credit (including without limitation increase or
decrease  in  the amount of such payments, available credit or any interest rate
adjustments),  or change or extend the time of payment of or renew, as often and
for  such  periods  as  Caterpillar  Financial may determine, or alter Obligor's
indebtedness  or  grant  any  other  indulgence  to Obligor and/or any secondary
obligors  of Obligor's indebtedness or any co-guarantor under this Guaranty; (d)
settle  or compromise Obligor's indebtedness with Obligor and/or any third party
or  refuse  any  offer of performance with respect to, or substitutions for, the
indebtedness;  (e)  take or accept any other security or guaranty for any or all
of  Obligor's  indebtedness;  and/or  (f)  enter into, deliver, modify, amend or
waive  compliance  with,  any  instrument,  agreement or arrangement evidencing,
securing  or  otherwise  affecting,  all  or any part of Obligor's indebtedness.


<PAGE>
SECTION  6.  NO  RELEASE  OF GUARANTOR.  Guarantor's obligations and liabilities
--------------------------------------
under  this  Guaranty  shall  not  be  released,  impaired, reduced or otherwise
affected  by,  and  shall continue in full force and effect, notwithstanding the
occurrence  of  any  event,  including without limitation any one or more of the
following  events:  (a)  death, insolvency, bankruptcy, arrangement, adjustment,
composition,  liquidation, disability, dissolution or lack of authority (whether
corporate,  partnership  or trust) of Obligor (or any person acting on Obligor's
behalf) or any Other Obligor or any other defense based on or arising out of the
lack  of  validity  or  unenforceability of the indebtedness or any agreement or
instrument  relating thereto or any provisions thereof  and/or Obligor's absence
or  cessation  of  liability  thereunder  for  any  reason,  including  without
limitation,  Caterpillar  Financial's  failure  to  preserve any right or remedy
against  Obligor;  (b)  any change in Obligor's financial condition; (c) partial
payment  or  payments  of  any  amount  due  and/or  outstanding under Obligor's
indebtedness;  (d)  any  change  in Obligor's management, ownership, identity or
business  or  organizational  structure; (e) any payment by Obligor or any other
party  to  Caterpillar  Financial  that  is  held  to  constitute a preferential
transfer or a fraudulent conveyance under any applicable law, or for any reason,
Caterpillar  Financial  is  required  to fund such payment or pay such amount to
Obligor  or to any other person; (f) any sale, lease or transfer, whether or not
commercially  reasonable,  of  all  or  any  part of Obligor's assets and/or any
assignment,  transfer or delegation of Obligor's indebtedness to any third party
(whereby  this Guaranty shall continue to extend to all sums due from or for the
account  of  Obligor and/or the new or substituted legal entity; (g) any failure
to  perfect  any lien or security interest securing the indebtedness or preserve
any  right,  priority  or  remedy  against  any Equipment; (h) any interruption,
change  or  cessation of relations between Guarantor and Obligor; (i) any defect
in,  damage to, destruction of or loss of or interference with possession or use
of  any  Equipment for any reason by Obligor or any other person; (j) any act or
omission by Caterpillar Financial which increases the scope of Guarantor's risk,
including  without  limitation,  negligent  administration  of transactions with
Obligor;  and/or  (k)  any  other occurrence or circumstance whatsoever, whether
similar or dissimilar to the foregoing, which might otherwise constitute a legal
or  equitable  discharge,  release  or defense of a guarantor or surety or which
might  otherwise  limit  recourse  against  Guarantor.

SECTION  7.  WAIVERS  BY  GUARANTOR.  Guarantor  waives,  for  the  benefit  of
-----------------------------------
Caterpillar  Financial  (which  waivers  shall  survive  until  this Guaranty is
released  or  terminated in writing by Caterpillar Financial); (a) notice of the
acceptance of this Guaranty; (b) notice of the existence, creation or incurrence
of  new  and/or additional debt owing from Obligor to Caterpillar Financial; (c)
presentment,  protest  and  demand,  and  notice of protest, demand, nonpayment,
nonperformance  and  dishonor  of  any  and  all  agreements,  notes  or  other
obligations  signed,  accepted,  endorsed  or  assigned  to  or  by  Caterpillar
Financial  or agreed to between Obligor and Caterpillar Financial; (d) notice of
adverse  change  in  Obligor's financial condition or any other fact which might
materially increase the risk of Guarantor; (e) any and all rights in and notices
or  demands relating to any Equipment, including without limitation, all rights,
notices,  advertisements or demands relating, whether directly or indirectly, to
the  foreclosure,  sale or other disposition of any or all such Equipment or the
manner  of  such sale or other disposition; (f) any claim, right or remedy which
Guarantor  may  now  have  or  hereafter acquire against the Obligor that arises
hereunder  and/or  from  the performance by any Other Obligor including, without
limitation,  any  claim,  remedy  or  right  of  subrogation,  reimbursement,


<PAGE>
exoneration, contribution, indemnification, or participation in any claim, right
or  remedy  of  Caterpillar  Financial against the Obligor or any security which
Caterpillar Financial now has or hereafter acquires with respect to the Obligor,
whether  or  not  such  claim,  right or remedy arises in equity, under contract
(express  or  implied), by statute, under common law or otherwise; (g) notice of
any  default  by  Obligor or any other person obligated in any manner for all or
any  portion  of  Obligor's  indebtedness  and  notice  of any legal proceedings
against such parties; (h) any right of contribution from any Other Obligors; (i)
notice  and  hearing  as  to  any prejudgment remedies; (j) any defense which is
premised  on  an  alleged  lack of consideration of the obligation undertaken by
Guarantor,  including without limitation, any defense to the enforcement of this
Guaranty  based  upon  the  timing of execution of this Guaranty and/or that the
Guaranty had been executed after the execution date of any agreements evidencing
the  indebtedness;  (k) all exemptions and homestead laws; (l) any other demands
and  notices  required  by  law;  (m)  all  setoffs  and  counterclaims  against
Caterpillar  Financial  and/or  Obligor; (n) any defense based on the claim that
Guarantor's liabilities and obligations exceed or are more burdensome than those
of Obligor; (o) any defense which the Obligor may assert or be able to assert on
the underlying indebtedness or which may be asserted by Guarantor, including but
not limited to (i) breach of warranty, (ii) fraud, (iii) statute of frauds, (iv)
infancy,  (v)  statute  of  limitations, (vi) lender liability, (vii) accord and
satisfaction,  (viii)  payment  and/or  (ix)  usury.

SECTION  8.  ENFORCEMENT  OF GUARANTOR'S OBLIGATIONS AND LIABILITIES.  Guarantor
--------------------------------------------------------------------
agrees  that,  should  Caterpillar  Financial  deem  it  necessary  to  file  an
appropriate collection action to enforce Guarantor's obligations and liabilities
under  this  Guaranty,  Caterpillar  Financial  may commence such a civil action
against  Guarantor  without  the  necessity  of  first (i) attempting to collect
Obligor's  indebtedness  from Obligor or from any Other Obligor, whether through
filing  of suit or otherwise, (ii) attempting to exercise any rights Caterpillar
Financial  may  have against any Equipment, whether through re-lease, the filing
of  an  appropriate  foreclosure action or otherwise, (iii) including Obligor or
any  Other  Obligor as an additional party defendant in such a collection action
against  Guarantor, or (iv) pursuing any other remedy in Caterpillar Financial's
power  or  to  mitigate damages.  If there is more than one guarantor under this
Guaranty, each Guarantor additionally agrees that Caterpillar Financial may file
an  appropriate  collection and/or enforcement action against any one or more of
them,  without  impairing  the rights of Caterpillar Financial against any other
guarantor  under  this  Guaranty

SECTION  9.  CONSTRUCTION.  This  writing  is  intended as a final expression of
-------------------------
this  Guaranty  agreement and is a complete and exclusive statement of the terms
of  that agreement, provided however, that the provisions of this Guaranty shall
be  in  addition  to  the  cumulative  of,  and not in substitution, novation or
discharge  of,  any and all prior or contemporaneous written guaranties or other
written  agreements  by  Guarantor  (or  any  one  or more of them), in favor of
Caterpillar  Financial  or  assigned  to Caterpillar Financial by others, all of
which  shall be construed as complementing each other.  Nothing herein contained
shall  prevent  Caterpillar  Financial  from  enforcing  any  and all such other
guaranties  or  agreements  in  accordance  with  their  respective  terms.

SECTION  10.  SUCCESSORS  AND  ASSIGNS  BOUND.  Guarantor's  obligations  and
---------------------------------------------
liabilities  under  this  Guaranty shall be binding upon Guarantor's successors,
heirs,  legatees,  devisees, administrators, executors and assigns.  Caterpillar
Financial may assign this Guaranty and any and all rights and interests included


<PAGE>
herein  in  Caterpillar  Financial's sole discretion without notice to Guarantor
and the rights and remedies granted to Caterpillar Financial under this Guaranty
shall  also  inure  to  the  benefit  of  Caterpillar Financial's successors and
assigns,  as  well  as  to  any  and  all subsequent holder or holders of any of
Obligor's  indebtedness  subject to this Guaranty, without setoff, counterclaim,
reduction,  recoupment,  abatement,  deduction  or  defense  based  on any claim
Guarantor may have against Caterpillar Financial, such successors and assigns or
subsequent  holders  of Obligor's indebtedness.  Guarantor shall not assign this
Guaranty  without  the  prior  written  consent  of  Caterpillar  Financial.

SECTION  11.  TERMINATION.  This  Guaranty  is irrevocable and may be terminated
-------------------------
only  as  to  indebtedness  created  sixty  (60)  days  after  actual receipt by
Caterpillar Financial of written notice of termination hereof, provided however,
that  all  indebtedness incurred, created or arising pursuant to a commitment of
Caterpillar  Financial made prior to the effective date of such termination (the
"Termination  Date")  and  any  extensions,  renewals  or  modifications of such
indebtedness (including without limitation loan and/or other commitments) agreed
to  or  instituted  by Caterpillar Financial prior to the Termination Date shall
not  be  effected  by such termination and shall be deemed to have been incurred
prior  to  termination  (irrespective of whether Indebtedness arising thereunder
occurs  after the Termination Date) and shall be fully covered by this Guaranty.
Any  termination  of  this  Guaranty  shall  be  ineffective  unless  upon  the
Termination Date Guarantor deposits with Caterpillar Financial collateral in the
form  of  cash  in  an  amount  not  less  than  the  amount of the indebtedness
outstanding  on  the  Termination  Date.  Such cash shall be held by Caterpillar
Financial in a separate account and shall be returned to Guarantor upon the full
and  indefeasible  payment  of  all  of  the  indebtedness.

SECTION  12.  GOVERNING  LAW;  WAIVER OF JURY.  This Guaranty shall be construed
---------------------------------------------
liberally  in favor of Caterpillar Financial and shall be governed and construed
in accordance with the substantive laws of the State of Tennessee without regard
to  the  conflicts  of  laws principles thereof.  ANY ACTION, SUIT OR PROCEEDING
RELATING  DIRECTLY  OR  INDIRECTLY  TO THIS GUARANTY OR THE RELATIONSHIP BETWEEN
GUARANTOR  AND  CATERPILLAR  FINANCIAL  WILL  BE  TRIED  IN A COURT OF COMPETENT
JURISDICTION  BY  A  JUDGE WITHOUT A JURY.  AS SUCH, GUARANTOR HEREBY WAIVES ANY
RIGHT  TO  A JURY TRIAL IN ANY SUCH ACTION, SUIT OR PROCEEDING.  IN THE EVENT OF
LITIGATION,  THIS  GUARANTY  MAY  BE  FILED AS A WRITTEN CONSENT TO TRIAL BY THE
COURT.

SECTION  13.  SEVERABILITY.  If  any  provision  of  this Guaranty is held to be
--------------------------
illegal,  invalid or unenforceable under present or future laws effective during
the term hereof, such provision shall be fully severable, this Guaranty shall be
construed  and enforceable as if the illegal, invalid or unenforceable provision
had  never comprised a part of it, and the remaining provisions of this Guaranty
shall  remain in full force and effect and shall not be affected by the illegal,
invalid  or  unenforceable  provision  or  by  its  severance  herefrom.


<PAGE>
IN WITNESS WHEREOF, Guarantor has executed this Guaranty in favor of Caterpillar
Financial  on  the  day,  month  and  year  first  written  above.


         GUARANTOR HAS READ AND FULLY UNDERSTANDS ALL OF THE PROVISIONS
                                OF THIS GUARANTY.

                                                  (Complete Address, Phone, SSN
                                                  if Guarantor is an individual)

Guarantor:  Apollo Gold, Inc.                     Address:______________________

Signature: /s/ R.L. Chapman                       Imlay, NV.
          ------------------------

Name (PRINT):  R.L. Chapman                       Phone:________________________
             ---------------------

Title:  Corporate Vice President                  SSN:__________________________


Guarantor:  Apollo Gold Corp.                    Address:_______________________

Signature: /s/ R.L. Chapman                      Imlay, NV.
           ------------------------

Name (PRINT):  R.L. Chapman                      Phone:_________________________
             ----------------------

Title:  Corporation Vice President               SSN:___________________________


<PAGE>