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| 1.   | INTERPRETIVE      PROVISIONS |
|----------------|------------------------------|

| 1.1   | Definitions - For the      purposes of this Agreement, the following words shall whenever used in      this Agreement, unless there is something in the subject or context      inconsistent therewith, have the following  meanings: |
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| (a)                | “Adopted Program and      Budget” means any Program and Budget that is adopted by the Board      pursuant to this Agreement; |
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| (b)                | “Agreement” means this      Joint Venture Agreement, together with all Schedules hereto, which are      incorporated by this reference, and all amendments hereto and      modifications hereof; |
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| (c)                | “Assets” means the      Properties and all other real and personal property, tangible and      intangible, now or hereafter owned by HoldCo or by  OpCo; |
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| (d)                | “Board” means the board      of directors of HoldCo; |
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| (e)                | “Budget” means a detailed      estimate and schedule of all costs to be incurred by HoldCo, OpCo or any      other Subsidiary of HoldCo or OpCo with respect to a    Program; |
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| (f)                | “Budget Period” means the      six-month periods commencing on January 1 and July 1 each year unless the      Board establishes a differentperiod; |
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| (g)                | “Business Day” means any      day on which commercial banking institutions in the British Virgin Islands      are open for the transaction of business but shall not mean a Saturday,      Sunday or any day which is a statutory holiday in the British Virgin      Islands; |
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| (h)                | “By-laws” means the      by-laws of HoldCo; |
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| (i)                | “Exploration” means all      activities directed principally toward ascertaining the existence,      location, quantity, quality or commercial value of deposits of      minerals; |
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| (j)                | “OpCo” means the      subsidiary branch of HoldCo established under the laws of Colombia to      conduct mining activities inColombia; |
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| (k)                |  “OpCo Bylaws” means the      bylaws of OpCo; |
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| (l)                | “Operating Committee”      means a committee of the Board established pursuant to section 8 of this      Agreement; and |
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| (m)               | “Operations” means all      activities carried out by HoldCo or OpCo after the date of this Agreement      including the acquisition, disposition and Exploration of      Properties; |
|-----------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (n)                | “Person” means an      individual, a partnership, a corporation, a trust, a joint venture or      other form of enterprise; |
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| (o)                | “Program” means a      description in reasonable detail of Operations to be conducted and      objectives to be accomplished during one or more Budget      Periods; |
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| (p)                | “Properties” means the      mining rights mining agreements, or other mining business opportunities      acquired by OpCo from time to time, including those listed in Schedule “A”      hereto; |
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| (q)                | “Shareholders” means      Amera BVI and IMAUSA BVI and their permitted assigns as shareholders of      HoldCo; |
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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; |
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| (b)                | the      words “include” or “including” when following any general term or      statement are not to be construed as limiting the general term or      statement to the specific items or matters set forth or to similar items      or matters, but rather as permitting it to refer to all other items or      matters that could reasonably fall within its broadest possible      scope; |
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| (c)                | an      accounting term not otherwise defined has the meaning assigned to it      under, and all accounting matters will be determined in accordance with,      generally accepted accounting principles (including the methods of      application of such |
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| (d)                | a      reference to a statute includes every regulation made pursuant thereto,      all amendments to the statute or to any such regulation in force from time      to time, and any statute or regulation that supplements or supersedes such      statute or any such regulation; |
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| (e)                | a      reference to time or date is to the local time or date in the British      Virgin Islands unless specifically indicated  otherwise; |
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| (f)                | a      reference to a particular corporation includes the corporation derived      from the amalgamation of the particular corporation, or of a corporation      to which such reference is extended by this paragraph (f), with one or      more other corporations; |
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| (g)                | a      word importing the masculine gender includes the feminine or neuter and a      word importing the singular includes the plural and vice versa;      and |
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| (h)                | a      reference to “approval”, “authorization”, “consent”, “designation” or      “notice” means written approval, authorization, consent, designation or      notice unless specifically indicatedotherwise. |
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| 1.3   | Auditor or Accountant -      Wherever in this Agreement reference is made to HoldCo’s or OpCo’s      auditor, as the case may be, the same provisions shall apply to HoldCo’s      or OpCo’s external accountant, if HoldCo or OpCo, as the case may be, does      not have an auditor. |
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| 1.4   | Currency - All dollar      amounts referenced in this Agreement refer to United States of America      dollars unless otherwise specified. |
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| 1.5   | 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. |
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| 1.6   | Business Days - In the      event that any date on which any action is required to be taken or by      which notice is to be received hereunder is not a Business Day, such      action shall be required to be taken on, and such notice shall be required      to be received by, the next succeeding day which is a Business      Day. |
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| 1.7   | 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. |
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| 1.8   | Schedules - The      following Schedules are attached hereto and form a part      hereof: |
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| 2.   | PURPOSE OF AGREEMENT      AND RELATIONSHIP OFSHAREHOLDERS |
|----------------|-----------------------------------------------------------|

| 2.1   | Purpose of Agreement -      This Agreement sets out the unanimous agreement of the Parties with      respect to the Properties and the conduct of Operations of HoldCo and      OpCo. |
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| 2.2   | Agreement to Govern - In      the event of any inconsistency between the terms and conditions of this      Agreement and the Memorandum of Association and By-laws of HoldCo or OpCo,      the terms and conditions of this Agreement shall have precedence and shall      govern. |
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| 2.3   | OpCo - It is the      intention of the Parties that the overall structure for the holding of the      Properties and the conduct of Operations will be carried out in the most      profitable and tax efficientmanner. |
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| 3.   | OPERATING      COMMITTEE |
|----------------|--------------------------|

| 3.1   | Appointment of Committee and      Chairman - The Board shall appoint an Operating Committee to which      the Board may delegate so much of its powers and duties as it from time to      time deems appropriate to oversee Operations. The Operating Committee      shall consist of two members.  The initial members of the      Operating Committee shall be Niko Cacos and Joseph Grosso. The Board may      also nominate one or more alternate members to the Operating Committee to      act in the absence of one or more, as appropriate, of its regular      members. |
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| 3.2   | Committee Decisions -      Any question, matter or thing whatsoever submitted for decision or action      at any meeting of the Operating Committee shall require the affirmative      vote of a majority of the members present.  If there is a      deadlock on any vote by the Operating Committee, the matter shall be      referred to the Board for a final decision. The secretary of the Operating      Committee shall keep minutes of the proceedings of all such      meetings. |
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| 3.3   | Meetings of Operating      Committee - As soon as practicable after the date of this      Agreement, the Operating Committee shall meet for the purposes of      organization and the transaction of other business. Regular meetings of      the Operating Committee shall be held quarterly on a date to be determined      by the Operating Committee and specified in the notice of such meeting.      Special meetings of the Operating Committee may be called by any member on      five Business Days’ prior notice. The member calling a special meeting,      and the chairman of the Operating Committee with respect to regularly      scheduled meetings, shall prepare a reasonably detailed agenda, which      shall specifically identify any proposed significant changes to a Program      and Budget or in operating procedures. The agenda shall accompany the      notice of the Operating Committee’s special meetings and be sent to the      members of the Operating Committee at least ten Business Days prior to a      regularly scheduled monthly meeting. Any member or his alternate may waive      in writing the giving of notice of a meeting of the Operating Committee      before or after such meeting. |
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| 3.4   | Location of Meetings -      Unless all members of the Operating Committee otherwise agree, the      regularly scheduled quarterly meetings of the Operating Committee shall be      held in person, with the location of such meetings to be in Vancouver,      British Columbia. All the meetings of the Operating Committee may be      attended by any member by means of conference telephone or other      communication facilities by which means all members participating in the      meeting can hear each other. |
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| 3.5   | Quorum - The quorum for      the transaction of business of the Operating Committee shall be two      members or their alternates, one of such members being a nominee of each      Shareholder. Notwithstanding the foregoing, if at the time scheduled for      the meeting a quorum is not constituted because a nominee of one      Shareholder is not in attendance, the meeting shall be rescheduled to a      time which is two Business Days thereafter and at such rescheduled      meeting, the quorum shall be two members or their alternates with no      requirement that one of such members be a nominee of each      Shareholder. |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.6   | Resignation of Members -      Any member or any alternate member of the Operating Committee may resign      upon five days’ prior notice to the other members of the Operating      Committee, in which case the directors who appointed the resigning member      shall appoint another member of the Operating Committee to replace the      resigning member. |
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| 3.7   | Removal of Members - The      directors who appointed a member or alternate of the Operating Committee      may remove such member or alternate, either with or without cause, at any      time. The vacancy on the Operating Committee caused by any such removal      shall be filled by the directors causing such  removal. |
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| 3.8   | Appointment of the General      Manager - The Operating Committee may appoint a general manager of      OpCo (the “General Manager”) to oversee  Operations. |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.9   | Delegation of Authority to the      General Manager - The Operating Committee may delegate such powers      to the General Manager as it deems necessary for the conduct of      Operations. The General Manager shall report and be responsible to the      Operating Committee with respect to the performance of his duties. Nothing      shall authorize the General Manager to take any action not otherwise      authorized by this Agreement, Operating Committee, or the      Board. |
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| 3.10   | Reports by General      Manager - The General Manager (or if there is none, the Operating      Committee) shall prepare monthly reports, which shall be furnished to each      Shareholder, summarizing Operations conducted during the preceding month      and comparing such Operations and the costs thereof to the applicable      Program and Budget. |
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| 3.11   | Access to Properties and      Information - Each Shareholder, or its duly authorized      representatives, at their own risk and expense, shall have access to the      Properties and to all records prepared by the Operating Committee or at      its direction in connection with work done on or with respect to the      Properties. Such inspections shall be done at the sole risk and expense of      the Shareholder wishing access and such Shareholder shall hold OpCo      harmless from any damage, claim or demand by reason of injury to the      agents, employees or representatives of that Shareholder due to their      presence on the Properties, caused by the negligence of that Shareholder      or caused by the negligent or intentional acts of such agents, employees      or representatives of that Shareholder. The Operating Committee or General      Manager shall have the right to schedule such inspections so that |
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| 3.12   | Actions Requiring Unanimous      Approval - The following matters shall require unanimous approval      of the Board, as the case may be, even though one Shareholder owns a      majority of the ownership interest in HoldCo.  However,      unanimous approval will not be required if a Shareholder ownership      interest is less than 25% : |
|------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (a)                | the      abandonment, sale or disposition of all or substantially all of the assets      of OpCo or HoldCo, except that such restriction shall not apply to sales      or dispositions of equipment or other materials in the ordinary course of      business; |
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| (b)                | the      winding-up of HoldCo; |
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| (c)                | amendment      of the constating documents ofHoldCo; |
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| (d)                | conducting      activities other than acquisition, disposition, exploration, development      and mining of the Properties; |
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| (e)                | transactions      with an affiliate of a Shareholder (“Affiliate” means, with respect to any      Shareholder, any person which directly or indirectly controls, is      controlled by, or is under common control with, that      Shareholder); |
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| (f)                | any      increase or reduction in the capital of HoldCo or the issuance of any      shares in the capital of HoldCo; |
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| (g)                | an      amalgamation or consolidation of HoldCo with any other    Person; |
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| (h)                | the      appointment of the OperatingCommittee; |
|-----------------------------------------------------------------|-------------------------------------------------|

| (i)                | the      creation, abandonment, sale or disposition of any subsidiaries or branches      of HoldCo; and |
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| (j)                | all      matters regarding the capitalization and the composition of the management      of OpCo. |
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| 4.   | PROGRAMS, BUDGETS,      CONTRIBUTIONS ANDDISTRIBUTIONS |
|----------------|--------------------------------------------------------|

| 4.1   | Operations To Be Conducted      Pursuant to Programs and Budgets - Except as otherwise provided in      sections 4.6 and 4.7, Operations shall be conducted, expenses shall be      incurred, substantially in accordance with Programs and Budgets adopted by      the Board in accordance with the provisions of this section    4. |
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| 4.2   | Preparation of Programs and      Budgets - On or before May 1 and November 1 each year, the      Operating Committee shall prepare and submit to the Board a proposed      Program and Budget for the ensuing Budget Period. Each such proposed      Program and Budget shall be in a form and degree of detail approved by the      Board, which once established shall thereafter be utilized, unless the      Board otherwise determines. The Board shall determine the extent to which      and the sources from which funds will be required to implement the      proposed Program and Budget. Funding shall be provided in accordance with      section 4.8. |
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| 4.3   | Adoption of Programs and      Budgets - Within 20 days after submission of any proposed Program      and Budget, the Board shall hold a meeting at which the directors      shall: |
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| (a)                | adopt      the proposed Program and Budget; or |
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| (b)                | propose      modifications to the proposed Program and Budget;  or |
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| (c)                | reject      the proposed Program and Budget. |
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| 4.4   | Failure of Board to Adopt      Programs and Budgets - If the Board fails, for any reason, to      approve a Program and Budget by June 15 or December 15, as the case may      be, the Operating Committee shall be authorized to continue Operations at      the level of activity and expenditure comparable with the last Adopted      Program and Budget and the last Adopted Program and Budget shall be deemed      extended at such levels. |
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| 4.5   | Budget Overruns and Program      Changes - The Operating Committee shall promptly notify the Board      of any actual or anticipated material departure from an Adopted Program      and Budget. The Operating Committee shall not exceed an adopted Budget by      more than 10% unless expressly authorized by the approval of the Board.      Budget overruns shall be paid out of funds from Operations, if available,      and if not available shall, be funded in accordance with section      4.8. |
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| 4.6   | Emergency and Unexpected      Expenditures - Notwithstanding any other provision of this      Agreement, in case of emergency, the Operating Committee may take any      reasonable action it deems necessary to protect life or property, to      protect the Properties or other Assets of HoldCo or OpCo or to comply with      law or government regulation. The Operating Committee shall promptly      notify the Board of any emergency expenditure. The costs of actions      resulting from emergencies shall be paid out of funds from Operations, if      available, and if not available shall, be funded in accordance with      section 4.8. |
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| 4.7   | Amendment of Programs and      Budgets - At any time, the Operating Committee may propose an      amendment to an Adopted Program and Budget, in which event the procedures      of section 4.3 shall apply. |
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| 4.8   | Funding of Programs and      Budgets – All Programs and Budgets shall be funded as      follows: |
|-----------------|--------------------------------------------------------------------------------------------------------|

| (a)                | HoldCo's      request for funding shall be made to each Shareholder pro rata in      proportion to its Ownership Interest.  A Shareholder shall      advance the money requested from it within 30 days of receipt of the      written request for the loan.  Unless specified in the request      the loans shall not bear interest and shall be unsecured.  No      Shareholder shall, so long as it remains a Shareholder, demand repayment      of its loans.  If HoldCo repays the loans, in whole or in part,      it shall do so pro rata in proportion to each Shareholder's contribution      by way of loan; and |
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| (b)                | the      Shareholders shall subordinate and postpone all Shareholder Loans to      permanent financing or other borrowing by HoldCo to the extent required by      the Board. |
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| 4.9   | Shareholder’s Failure to Fund      Programs - If a Shareholder should fail to fund all Programs and      Budgets as required under section 4.8, such Shareholder shall be in      default hereunder and section 5 shallapply. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.10   | Audits - Upon request      made by any Shareholder within six (6) months following the end of any      calendar year (or, if the Board has adopted an accounting period other      than the calendar year, within six (6) months after the end of such      period), an audit of the accounting and financial records of HoldCo or of      OpCo for such calendar year (or other accounting period) shall be      performed by an auditor chosen and paid for by such Shareholder. All      written exceptions to the audit and claims upon HoldCo or OpCo for      discrepancies disclosed by such audit shall be made not more than three      months after receipt of the audit report. Failure to make any such      exception or claim within the three-month period shall mean the audit is      correct and the accounting and financial matters subject to such audit are      binding upon the Shareholders. |
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| 4.11   | Funding to OpCo - It is      the intention of the Shareholders that funds will pass between HoldCo and      OpCo in such a way that taxes will be minimized and returns to the      Shareholders maximized. The Board will, unless it determines to do      otherwise, lend down to OpCo all funds available and required by OpCo for      Operations. Such loans to OpCo shall be made on such terms as shall, in      the opinion of the Board, maximize the returns to HoldCo, with any      interest to accrue until cash flow is available to pay such interest. It      is the intention of the Shareholders that any withholding tax payable with      respect to loans from HoldCo to OpCo will be paid by HoldCo, with the      interest rate payable by OpCo being “grossed up” by the amount of said      withholding tax payable. |
|------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.12   | Interference by Creditors or      Others - If, for any reason, the right of any Shareholder to      exercise full control over that Shareholder’s Shares shall be affected or      interfered with, whether by Court order or the appointment of a receiver      or otherwise howsoever, the affected Shareholder shall not have a right to      nominate directors and the remaining Shareholder shall, during the period      in which such Shareholder’s rights remain affected, have the right to      nominate directors the affected Shareholder would have been entitled to      nominate and each Shareholder covenants and agrees with the other, with      the express intention and understanding that such covenant shall be      binding upon its assigns and personal representatives, that it shall vote      or cause its Shares to be voted to ensure the election as directors of      HoldCo of such persons as may be required so that nominees of the      remaining Shareholders shall be the directors of the Board while such      rights are so affected. |
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| 4.13   | Director’s Failure to Vote      Agreement - Each Shareholder shall cause the directors of HoldCo      that it nominates to cast all votes and take all other actions in their      capacities as directors in a manner consistent with this Agreement and so      as to implement its terms and intent. The Shareholders will immediately      remove or cause the removal of any director who acts in any manner that is      inconsistent with the terms and conditions of this Agreement. Any action      or failure to act by a director that would be a breach of this Agreement      if taken by a Shareholder shall be deemed a breach of this Agreement by      the Shareholder that nominated suchdirector. |
|------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| 5.   | LOAN DEFAULT TO      OPCO |
|----------------|---------------------------|

| 5.1   | If      a Shareholder defaults by refusing or failing to make a contribution or      payment, then: |
|-----------------|-----------------------------------------------------------------------------------------------------|

| (a)                | the      Non-Defaulting Shareholders, or either of them, may elect not to make      their concomitant contribution or payment (if any), in which      case: |
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| (i)                | the      Defaulting Shareholder is still in Default but the Non-Defaulting      Shareholder(s) who so elected shall not be in  default; |
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| (ii)               | if      the Non-Defaulting Shareholders, or either of them, have already made      their concomitant contribution or payment, HoldCo will forthwith pay to      them the amount of such contribution or payment and the Shareholders will      take all steps necessary to obtain the repayment thereof;    and |
|------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (iii)              | in      addition the terms of the Buy-Sell procedure as outlined in section 5.4 of      the Golden Amera Resources (BVI) Inc. Shareholders Agreement shall      apply |
|-------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b)                | if      the Non-Defaulting Shareholder(s) do not elect as provided in      section 5.5(a) hereof, the Non-Defaulting Shareholders may elect to      make, and are hereby authorized by the Defaulting Shareholder to make,      such contribution or payment (the "Default Loan") on behalf of and for the      account of the Defaulting Shareholder in which event the Defaulting      Shareholder shall pay, or cause to be paid, to the Non-Defaulting      Shareholder(s): |
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| (i)                | the      amount of the Default Loan; |
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| (ii)               | the      reasonable costs of the Non-Defaulting Share­holder(s) relating to      obtaining monies to make the Default Loan;and |
|------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------|

| (iii)         | interest      calculated and payable on the first business day of each and every month      on the amount of the Default Loan outstanding from time to time equal      to: |
|-------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (A)               | the      rate of interest payable by the Non-­Defaulting Shareholder to any      third party on any monies borrowed by it to make the Default Loan plus 4%      per annum; or |
|-----------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (B)               | if      any such monies are not borrowed by the Non-Defaulting Shareholder(s), the      prime commercial lending rate of the BMO at the time the Default Loan is      made plus 4% per annum. |
|-----------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5.2   | If      and so long as a Shareholder is a Defaulting Shareholder as a result of a      default under section 5 hereof, all monies payable to that Defaulting      Shareholder by the Company by way of dividends, repayment of loans or      other distribution shall be paid to the Non-Defaulting Shareholders until      they have received: |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (a)                | the      amounts set out in section 5.1(b) hereof;  or |
|-----------------------------------------------------------------|-------------------------------------------------------------|

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| (b)                | if      the Non-Defaulting Shareholders elected pursuant to section 5.1(a)      hereof an amount equal to the concomitant contribution of payment already      made by the Non-Defaulting Shareholders in the circumstances set out in      section 5.1(a) (ii); |
|-----------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5.3   | Upon      the request of the Non-Defaulting Shareholders, or any of them, from time      to time, the Defaulting Shareholder and the director of HoldCo appointed      by him shall vote to ensure that any monies of  HoldCo available      for payment of dividends or repayment of loans will be declared and paid      by HoldCo or its directors in accordance with section 5.2      hereof. |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.   | DISPUTES |
|----------------|----------|

| 6.1   | Negotiation - All      disputes, controversies and claims arising under this Agreement, shall be      settled, if possible, through good faith negotiations. If such good faith      negotiations do not resolve the dispute within 15 days, then the dispute      shall be referred to arbitration under the terms set out      below. |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.2   | Arbitration - The      dispute shall be referred to and finally resolved by arbitration      administered by the British Columbia International Commercial Arbitration      Centre pursuant to its Rules before a single  arbitrator. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.3   | Location of Arbitration      - Any arbitration shall take place in Vancouver, British Columbia, unless      the parties to the arbitration shall agree to its being held in a      different location. |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 7.   | FORCE      MAJEURE |
|----------------|--------------------|

| 7.1   | Force Majeure - The      following Force      Majeure items shall apply to this  Agreement: |
|-----------------|---------------------------------------------------------------------------------------------|

| (a)                | No      party shall be liable for its failure to perform any of its obligations      under this Agreement due to a cause beyond its control (except those      caused by its own lack of funds) including, but not limited to, adverse      weather conditions, environmental protests or blockages, war, riot,      insurrection or civil disturbance, epidemics, acts of God, earthquake,      fire, flood, explosion, strikes, lockouts or other industrial      disturbances, laws, rules and regulations or orders of any duly      constituted governmental authority or non-availability of materials,      services or transportation or any other cause whether similar or      dissimilar to the foregoing (each an “Intervening  Event”); |
|-----------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b)                | A      party relying on the provisions of section 7.1(a) will promptly give      written notice to the other of the particulars of the Intervening Event      and also estimate the period of time which such party will probably      require in respect of such Intervening Event. All time limits imposed by      this Agreement will be extended by a period equivalent to the period of      delay resulting from an Intervening Event described in paragraph      7.1(a); |
|-----------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (c)                | A      party relying on the provisions of section 7.1(a) will take all reasonable      steps to eliminate any Intervening Event and, if possible, will perform      its obligations |
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| 8.   | CONFIDENTIALITY AND      NON-COMPETITION |
|----------------|------------------------------------------|

| 8.1   | General - All      information obtained in connection with the conduct of Operations which is      designated as confidential by the Board, the financial terms and      conditions of this Agreement and all material technical, geologic,      financial, and corporate strategy or planning information relating to the      Properties shall be exclusive property of the Shareholders and, except as      provided in section 8.2 of this Agreement, shall not be disclosed to any      third party or the public without the prior written consent of the other      Shareholder, which consent shall not be unreasonably    withheld. |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8.2   | Exceptions - The consent      required by section 8.1 shall not apply to a  disclosure: |
|-----------------|-----------------------------------------------------------------------------------------|

| (a)                | If      such information is necessarily disclosed by Operations or is necessary to      disclose to implement an Adopted Program and  Budget; |
|-----------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------|

| (b)                | Of      such information as is reasonably necessary to disclose to an Affiliate,      consultant, contractor, advisor, or representative, that has a bona fide      need to be informed; |
|-----------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (c)                | To      a third party to whom the disclosing Shareholder contemplates a transfer      of all or any part of its Shares, subject to reasonable requirements      concerning use and confidentiality; |
|-----------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (d)                | To      a governmental agency or to the public which disclosure the disclosing      Shareholder believes in good faith is required by pertinent law or      regulation or the rules of any stock exchange on which its stock, or the      stock of an entity which controls the Shareholder, is    traded; |
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| (e)                | Of      any information which at the time of disclosure is in the public domain,      except as a result of a breach of this  Agreement; |
|-----------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------|

| (f)                | To      a bank, insurance company or other financial institution and to its      advisors in connection with negotiations concerning financing arranged by      a Shareholder for its own corporate purposes, subject to reasonable      requirements concerning use and confidentiality;  or |
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| (g)                | By      a Shareholder of information which it owns or controls independently of      HoldCo, but which was furnished to HoldCo by that Shareholder for use by      HoldCo. |
|-----------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| 8.3   | Duration of      Confidentiality - The provisions of this section 8 shall apply      during the term of this Agreement, and shall continue to apply to a      Shareholder who has been deemed to have sold its Ownership      Interest. |
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| 8.4   | Non-competition - Each      of Amera, Golden Arrow, Amera BVI and IMAUSA BVI covenants with each other      that it will not engage in practices detrimental to HoldCo and      OpCo.  Each of Amera, Golden Arrow, Amera BVI and IMAUSA BVI      hereby covenants and agrees with each other  that if during the      currency of this Agreement a party or any Associate or Affiliate acquires,      directly or indirectly or pursuant to any third party agreement, any form      of interest in minerals located wholly or in part within Colombia, the      acquiring party will offer, or in the case of an Associate or Affiliate      use its best efforts to cause such Associate or Affiliate to offer, such      interest to HoldCo and OpCo by notice in writing to HoldCo and OpCo      setting out the nature of such interest and including all information      known by the acquiring parties, about such interest, the acquisition costs      of the acquiring party and all other details relating thereto and if,      within 60 days from the date of receipt of such notice by HoldCo and OpCo,      HoldCo and OpCo accept such mineral interest and pays to the acquiring      parties 100% of its acquisition costs relating thereto as set out in such      notice, such mineral interest will form part of the      Properties. |
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| 9.   | NOTICES |
|----------------|---------|

| 9.1   | Notices - All notices,      payments, and other required communications (“Notices to the Shareholders      shall be in writing, and shall be addressed respectively as      follows: |
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| 10.   | ALTERATIONS TO      AGREEMENT |
|-----------------|-------------------------------|

| 10.1   | Alterations - No      alteration or amendment to this Agreement shall take effect unless it is      in writing duly executed by each of the parties hereto, provided that it      shall not be necessary to make a party to any amending agreement any      Shareholder who has ceased to be a Shareholder and who has been paid all      money owing to it by HoldCo and has been paid all money owing to it by the      other Shareholders pursuant to this Agreement and no alteration or      amendment shall apply retroactively unless otherwise    agreed. |
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| 11.   | TERMINATION |
|-----------------|-------------|

| 11.1   | This      Agreement shall terminate: |
|------------------|--------------------------------------|

| (a)                | if      HoldCo ceases to carry on business, has a receiving order made against it,      goes into bankruptcy either voluntarily or involuntarily or makes a      proposal to its creditors; |
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| (b)                | the      date HoldCo shall complete proceedings for its liquidation and      distribution of its assets; or |
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| (c)                | if      the Shareholders hereto consent in writing to the termination      hereof. |
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| 12.   | GENERAL |
|-----------------|---------|

| 12.1   | Time - Time shall be of      the essence for this Agreement. |
|------------------|--------------------------------------------------------------|

| 12.2   | Severability - Should      any part of this Agreement be declared or held to be invalid for any      reason, the invalidity shall not affect the validity of the remainder of      this Agreement which shall continue in full force and effect and be      construed as if this Agreement had been executed without the invalid      portion and it is hereby declared the intention of the parties that this      Agreement would have been executed without reference to any portion that      may, for any reason, be hereafter declared or held  invalid. |
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| 12.3   | Further Assurances - The      parties shall execute all other documents and instruments and do all other      things necessary to implement and carry out the terms of this      Agreement. |
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| 12.4   | Governing Law - This      Agreement shall be construed and the powers and provisions herein      contained shall be administered, exercised and given effect to according      to the laws of the Province of British Columbia and the rights and      obligations of all parties hereunder shall be regulated by the laws of the      Province of British Columbia notwithstanding that any of the Shareholders      may now or at any future time be resident or domiciled elsewhere than in      the Province of British Columbia. The parties irrevocably attorn to the      jurisdiction of the arbitrators and courts of the Province of British      Columbia and the venue for any actions or arbitrations arising out of      their Agreement shall be Vancouver, British  Columbia. |
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| 12.5   | Entire Agreement - The      provisions herein constitute the entire agreement between the parties and      supersede all previous communications, representations and agreements,      whether verbal or written, between the parties with respect to the subject      matter hereof. |
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| 12.6   | Enurement - This      Agreement shall enure to the benefit of and be binding upon the parties      hereto and, except as otherwise provided herein or as would be      inconsistent with the provisions hereof, their respective successors and      permitted assigns. |
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| 12.7   | Assignment - Except as      expressly otherwise provided in this Agreement, this Agreement may not be      assigned by a party without the written consent of the other      parties. |
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| 12.8   | 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 had all signed the same documents, and all such      counterparts and adopting instruments 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 each of the other parties by the party      signing the particular counterpart. |
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