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AMENDMENT NO. 2 TO OPTION AGREEMENT

THIS AGREEMENTmade as of the 28th day of June, 2003.

BETWEEN:

> MICHAEL H. SANGUINETTI, of 5479 Keith Road, 
>       West Vancouver, British Columbia
>     (the "Optionor")

OF THE FIRST PART

AND:

> MERRITT VENTURES CORP., of Suite 201, 
>       810 Peace Portal Drive, Blaine, WA 98230
>       (the "Optionee")

OF THE SECOND PART

WHEREAS:

|A. | The parties entered into an option agreement dated April 6, 2001, as
        amended (the “Agreement”);                 
|-- | ------------------------------------------------------------------------------------------------------------------------
|B. | The parties wish to amend the Agreement to extend certain dates for
        completion of work programs on the Property.

NOW THEREFORE THIS AGREEMENT WITNESSES THAT in consideration of the mutual covenants
  and conditions herein contained and in consideration of the sum of $1000.00
  US paid by the Optionee to the Optionor (the receipt of which is hereby acknowledged)
  the parties have agreed and do hereby agree as follows:

1.       The Agreement is hereby amended by deleting
  paragraph 4(b)(i) and 4 (b)(ii) and replacing it with the following:

| | 4 (b)(i)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | paying the Optionor $1,000 US on the execution of this
        Agreement, the receipt which is hereby acknowledged by the Optionor; and
        an additional $1,000 on or before August 31, 2003;
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | 4 (b)(ii)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | incurring Exploration Expenditures of up to $15,000 US
        on the Property as follows:                                                                                                        
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | (A)                                                                                                                                                                                               
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | (B)                                                                                                                                                                                               
| | In the event that the Optionee
        spends, in any of the above periods, less than the specified sum, it may
        pay the Optionor the difference between the amount it actually spent and
        the specified sum before the expiry of that period in full satisfaction
        of the Exploration Expenditures to be incurred. In the event that the
        Optionee spends, in any period, more than the specified sum, the excess
        shall be carried forward and applied to the Exploration Expenditures to
        be incurred in succeeding periods.

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2.       The Agreement is deemed to have
  been amended as of the day and year first above written and, in all other respects,
  save and except as herein provided, the Agreement is hereby confirmed.

3.        This Agreement may be executed
  in counterparts which together shall form one and the same instrument.

IN WITNESS WHEREOFthe parties hereto have executed
  this Agreement as of the day and year first above written.

|SIGNED, SEALED AND DELIVERED         | ) |                           
|------------------------------------ | - | --------------------------
|BY MICHAEL H. SANGUINETTI            | ) |                           
|in the presence of:                  | ) |                           
|                                     | ) |                           
|/s/ George R. Rawsthorne             | ) |                           
|Signature                            | ) |                           
|                                     | ) | /s/ Michael H. Sanguinetti
|George R. Rawsthorne                 | ) | Michael H. Sanguinetti    
|Name                                 | ) |                           
|                                     | ) |                           
|Box 1988, Squamish, BC, V0N 3G0      | ) |                           
|Address                              | ) |                           
|                                     |   |                           
|                                     |   |                           
|THE COMMON SEAL OF                   | ) |                           
|MERRITT VENTURES CORP.was            | ) | c/s                       
|hereunto affixed in the presence of: | ) |                           
|                                     | ) |                           
|/s/ Lorrie A. Archibald              | ) |                           
|Authorized Signatory                 | ) |                           
|                                     |   |                           
|                                     |   |                           

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