<PAGE>

                                                                    EXHIBIT 10.1

                   SECURED REVOLVING LINE OF CREDIT AGREEMENT

         This Revolving Line of Credit Agreement (the "AGREEMENT") is made and
entered into on this 18th day of July 2007, by and between CANVASBACK COMPANY
LIMITED, a company organized and validly existing under the laws of Anguilla
("LENDER"), and RECLAMATION CONSULTING AND APPLICATIONS, INC., a corporation
duly organized and validly existing under the laws of the State of Colorado
("BORROWER").

         In consideration of the mutual covenants and agreements contained
herein, the parties agree as follows:

                                    ARTICLE I

                            REVOLVING LINE OF CREDIT

1.1      LINE OF CREDIT. Lender hereby establishes for a period extending from
         the date hereof to July 18, 2009 (the "MATURITY DATE") a revolving line
         of credit (the "CREDIT LINE") for Borrower in the principal amount of
         Three Million Dollars ($3,000,000) (the "CREDIT LIMIT"). In connection
         herewith the Parties have executed a Security Agreement of even date
         hereof (the "SECURITY AGREEMENT") and Borrower has executed and
         delivered to Lender a Promissory Note of even date herewith (the
         "PROMISSORY NOTE"). (This Agreement, the Security Agreement and the
         Promissory Note shall collectively be referred to as the "LOAN
         DOCUMENTS.") All sums advanced on the Credit Line or pursuant to the
         terms of this Agreement (each an "ADVANCE") shall become part of the
         principal under the Promissory Note.

1.2      ADVANCES. Any request for an Advance may be made from time to time and
         in such amounts as Borrower may choose; provided, however, any
         requested Advance will not, when added to the outstanding principal
         balance of all previous Advances, exceed the Credit Limit. Requests for
         Advances may be made orally or in writing by such officer of Borrower
         authorized by it to request such Advances. Until such time as Lender
         may be notified otherwise, Borrower hereby authorizes its President,
         Chief Executive Officer, Chief Financial Officer or any Vice President
         to request Advances. Lender has no obligation to make any requested
         Advance and the decision to lend such money lies in the sole and
         complete discretion of Lender. Should Lender approve any such requested
         Advance, Lender shall deposit or credit the amount of such requested
         Advance to Borrower's checking account with Lender. The funds from the
         Advances may be used by Borrower for the satisfaction of Borrower's
         debts and obligations, for the Borrower's operating expenses, and for
         other business purposes.

1.3      INTEREST. All sums advanced pursuant to this Agreement shall bear
         simple interest from the date each Advance is made until paid in full
         at the rate of twelve percent (12%) per annum, simple interest,
         calculated using a 365-day year (the "EFFECTIVE RATE").


                                       1



<PAGE>

1.4      CONVERSION OF CERTAIN LOANS. The Parties agree that in April, June and
         June 2007, Lender loaned Borrower an aggregate principal amount of Five
         Hundred Ninety Thousand Dollars ($590,000) which together with accrued
         interest in the amount of Eight Thousand One Hundred Ninety-Two Dollars
         and Eighty-Eight Cents ($8,192.88.88) on the date hereof has an
         outstanding balance of Five Hundred Ninety Eight Thousand One Hundred
         Ninety Two Dollars and Eighty-Eight Cents ($598,192.88) as described in
         Schedule A attached hereto (the "INTERIM LOANS"), which Lender is a
         true and complete list of all amounts loaned by Lender to the Company
         from April 4, 2007 through and including the date of this Agreement.
         Upon execution of this Agreement, the Parties hereby agree the
         outstanding balance of Five Hundred Ninety-Eight Thousand One Hundred
         Ninety-Two Dollars and Eighty-Eight Cents ($598,192.88) owed by
         Borrower on the Interim Loans to Lenders of the date hereof shall, as
         of the date hereof, be deemed an Advance under the Credit Line and
         shall henceforth governed by the Loan Documents. Any oral or written
         agreements regarding the Interim Loans entered into by the Parties
         prior to the execution of this Agreement shall be null and void.

1.5      REPAYMENT. All accrued unpaid interest outstanding under the Credit
         Line as of July 18, 2008 shall be paid by Borrower to Lender no later
         then July 31, 2008. The entire unpaid principal balance, together with
         any accrued interest and other unpaid charges or fees hereunder, shall
         be due and payable on the Maturity Date. All payments shall be made to
         Lender at such place as Lender may, from time to time, designate. All
         payments received hereunder shall be applied, first to accrued
         interest; and second, to principal. Borrower may prepay principal at
         any time without penalty.

1.6      SECURITY AGREEMENT. The Line of Credit is secured by a security
         interest in all the assets of the Company pursuant to the terms of the
         Security Agreement.


                                   ARTICLE II

                         REPRESENTATIONS AND WARRANTIES

2.1      REPRESENTATIONS AND WARRANTIES OF BORROWER. In order to induce Lender
         to enter into this Agreement and to make the advances provided for
         herein, Borrower represents and warrants to Lender as follows:

          (a)      Borrower is a duly organized, validly existing, and in good
                   standing under the laws of the State of Colorado with the
                   power to own its assets and to transact business in
                   California, and in such other states where its business is
                   conducted.

          (b)      Borrower has the authority and power to execute and deliver
                   any document required hereunder and to perform any condition
                   or obligation imposed under the terms of such documents.

          (c)      The execution, delivery and performance of this Agreement and
                   each document incident hereto will not violate any provision
                   of any applicable law, regulation, order, judgment, decree,


                                       2



<PAGE>

                   article of incorporation, by-law, indenture, contract,
                   agreement, or other undertaking to which Borrower is a party,
                   or which purports to be binding on Borrower or its assets and
                   will not result in the creation or imposition of a lien on
                   any of its assets.

          (d)      There is no action, suit, investigation, or proceeding
                   pending or, to the knowledge of Borrower, threatened, against
                   or affecting Borrower or any of its assets which, if
                   adversely determined, would have a material adverse affect on
                   the financial condition of Borrower or the operation of its
                   business

2.2      REPRESENTATIONS AND WARRANTIES OF LENDER. Lender hereby represents and
         warrants to Borrower, as of the date hereof, the following:

         (a)      Lender is a limited liability company duly organized and
                  validly existing under the laws of the Anguilla, and has full
                  power and authority to enter into, execute and perform this
                  Agreement, which Agreement, once executed by Lender, shall be
                  the valid and binding obligation of Lender, enforceable
                  against it by any court of competent jurisdiction in
                  accordance with its terms;

         (b)      the individuals signing this Agreement on behalf of Lender are
                  the duly elected executive officers of Lender so indicated,
                  and have full power and authority to enter into, execute,
                  deliver and perform this Agreement for and on behalf of
                  Lender;

         (c)      Lender is not bound by or subject to any contract, agreement,
                  court order or judgment, administrative ruling, law,
                  regulation or any other item which prohibits or restricts such
                  party from entering into and performing this Agreement in
                  accordance with its terms, or requiring the consent of any
                  third party prior to the entry into or performance of this
                  Agreement in accordance with its terms by Lender.

         (d)      with respect to the Note (the "SECURITIES") being acquired (or
                  which may be acquired) by Lender:

                   (i)      Lender is and will be acquiring the Securities for
                            its own account, and not with a view toward the
                            subdivision, resale, distribution, or
                            fractionalization thereof; Lender has no contract,
                            undertaking, or arrangement with any person to sell,
                            transfer, or otherwise dispose of the Securities (or
                            any portion thereof hereby subscribed for), and has
                            no present intention to enter into any such
                            contract, undertaking, agreement or arrangement;

                   (ii)     this subscription for Securities by Lender is not
                            the result of any form of general solicitation or
                            general advertising;


                                       3



<PAGE>

                  (iii)    Lender hereby acknowledges that: (A) the offering of
                           the Securities was made only through direct, personal
                           communication between Lender and Borrower; (B) Lender
                           has had full access to material concerning Borrower's
                           planned business and operations, which material was
                           furnished or made available to Lender by officers or
                           representatives of Borrower; (C) Borrower has given
                           Lender the opportunity to ask any questions and
                           obtain all additional information desired in order to
                           verify or supplement the material so furnished; and
                           (D) Lender understands and acknowledges that a
                           purchaser of the Securities must be prepared to bear
                           the economic risk of such investment for an
                           indefinite period because of: (I) the heightened
                           nature of the risks associated with an investment in
                           Borrower due to its status as an early-stage company,
                           including without limitation the risk of loss of the
                           entire amount of their investment; and (II)
                           illiquidity of the Securities due to the fact that
                           (1) the Securities have not been registered under the
                           1933 Act or any state securities act (nor passed upon
                           by the SEC or any state securities commission), and
                           (2) the Securities may not be registered or qualified
                           by Lender under federal or state securities laws
                           solely in reliance upon an available exemption from
                           such registration or qualification, and hence such
                           Securities cannot be sold unless they are
                           subsequently so registered or qualified, or are
                           otherwise subject to any applicable exemption from
                           such registration requirements; and (3) substantial
                           restrictions on transfer of the Securities, as set
                           forth by legend on the face or reverse side of every
                           certificate evidencing the ownership of the
                           Securities;

         (e)      Lender is an "accredited investor" as such term is defined in
                  Rule 501 of Regulation D promulgated by the Securities and
                  Exchange Commission under the Act, or, if Lender is
                  non-accredited, then he and/or she has sufficient business
                  expertise and sophistication so as to be able to make a
                  determination concerning the relative risks and merits of an
                  investment in the securities, and has a pre-existing business
                  or personal relationship with at least one of the
                  shareholders, directors or executive officers of Borrower; and

         (f)      Lender has been advised to consult with an attorney regarding
                  all legal matters concerning the purchase and ownership of the
                  Securities, and with a tax advisor regarding the tax
                  consequences of purchasing such Securities


                                   ARTICLE III

                                    CLOSING

3.1      CLOSING. The closing of the transactions contemplated by this Agreement
         shall take place on July 18, 2007 at 10:00 a.m., P.D.T. at the offices
         of the August Law Group, P.C., The Atrium Building, 19200 Von Karman
         Avenue, Suite 900, Irvine, California 92612, or at such other location,


                                       4



<PAGE>

         date and time as may be agreed upon between Canvasback and the Company
         (such closing being called the "CLOSING" and such date and time being
         called the "CLOSING DATE"). At the Closing, the Company shall issue and
         deliver to the Purchaser the Notes as consideration for the Secured
         Debt.


                                   ARTICLE IV

                         EVENTS OF DEFAULT AND REMEDIES

4.1      EVENTS OF DEFAULT. Debtor shall be in default under this Agreement on
         the occurrence of any of the following events or conditions and the
         failure of Borrower to cure such events or conditions within ten (10)
         business days following written notice from Lender describing with
         particularity the event or condition giving rise to an event of
         default:

         (a)      Failure to pay any principal or interest hereunder after the
                  same becomes due.

         (b)      Any representation or warranty made by Borrower in this
                  Agreement or in connection with any borrowing or request for
                  an Advance hereunder, or in any certificate, financial
                  statement, or other statement furnished by Borrower to Lender
                  is untrue in any material respect at the time when made.

         (c)      Filing by Borrower of a voluntary petition in bankruptcy
                  seeking reorganization, arrangement or readjustment of debts,
                  or any other relief under the Bankruptcy Code as amended or
                  under any other insolvency act or law, state or federal, now
                  or hereafter existing.

         (d)      Filing of an involuntary petition against Borrower in
                  bankruptcy seeking reorganization, arrangement or readjustment
                  of debts, or any other relief under the Bankruptcy Code as
                  amended, or under any other insolvency act or law, state or
                  federal, now or hereafter existing, and the continuance
                  thereof for sixty (60) days undismissed, unbonded, or
                  undischarged.

         (e)      Any material default by Borrower under the Security Agreement.

4.2      REMEDIES. Upon the occurrence of an event of default as defined above,
         Lender may declare the entire unpaid principal balance, together with
         accrued interest thereon, to be immediately due and payable without
         presentment, demand, protest, or other notice of any kind, and Lender
         may suspend or terminate any obligation it may have hereunder to make
         additional Advances. To the extent permitted by law, Borrower waives
         any rights to presentment, demand, protest, or notice of any kind in
         connection with this Agreement. No failure or delay on the part of
         Lender in exercising any right, power, or privilege hereunder will
         preclude any other or further exercise thereof or the exercise of any
         other right, power, or privilege. The rights and remedies provided
         herein are cumulative and not exclusive of any other rights or remedies
         provided at law or in equity.


                                       5



<PAGE>

                                    ARTICLE V

                            MISCELLANEOUS PROVISIONS

5.1      NOTICES. All notices, requests, demands and other communications to be
         given hereunder shall be in writing and shall be deemed to have been
         duly given on the date of personal service or transmission by fax if
         such transmission is received during the normal business hours of the
         addressee, or on the first business day after sending the same by
         overnight courier service or by telegram, or on the third business day
         after mailing the same by first class mail, or on the day of receipt if
         sent by certified or registered mail, addressed as set forth below, or
         at such other address as any party may hereafter indicate by notice
         delivered as set forth in this Section 5.1:

                 If to Borrower:                Reclamation Consulting &
                                                Applications, Inc.
                                                940 Calle Amanecer, Suite E
                                                San Clemente, CA 92673
                                                Attn: Mr. Gordon W. Davies
                                                      President

                 With a copy (which shall
                 not constitute notice) to:     August Law Group, P.C.
                                                19200 Von Karman, Suite 900
                                                Irvine, California  92614
                                                Attn: Kenneth S. August, Esquire
                                                      President

                 If to Lender:                  Canvasback Company Limited
                                                Hannah Waiver House
                                                The Valley, Anguilla,
                                                British West Indies
                                                Attn: Ms. Bernadine Romney
                                                      Authorized Signatory

                 With a copy (which shall
                 not constitute notice) to:     ________________________________
                                                ________________________________
                                                ________________________________
                                                Attn:    _______________________
                                                ________________________________

5.2      ENTIRE AGREEMENT. This Agreement constitutes the entire and final
         agreement and understanding between the parties with respect to the
         subject matter hereof and the transactions contemplated hereby, and
         supersedes any and all prior oral or written agreements, statements,
         representations, warranties or understandings between the parties, all
         of which are merged herein and superseded hereby.


                                       6



<PAGE>

5.3      BINDING AGREEMENT; ASSIGNMENT. This Agreement shall constitute the
         binding agreement of the parties hereto, enforceable against each of
         them in accordance with its terms. The Loan Documents shall inure to
         the benefit of each of the parties hereto, and their respective
         successors and permitted assigns; provided, however, that the Loan
         Documents may not be assigned (whether by contract or by operation of
         law) by Lender without the prior written consent of Borrower, which
         consent may be given or withheld in the sole discretion of Borrower,
         PROVIDED HOWEVER, that any such permitted assignee of any of the Loan
         Documents, executes an assignment agreement or such other document as
         Borrower may reasonably request containing all the representations,
         warranties and covenants contained in this Agreement and certifying to
         Borrower that such permitted assignee is an "Accredited Investor" as
         such term is defined in Rule 501 of Regulation D promulgated by the
         Securities and Exchange Commission under the Act,.

5.4      WAIVER. No waiver of any provision of this Agreement shall be deemed to
         be or shall constitute a waiver of any other provision, whether or not
         similar, nor shall any waiver constitute a continuing waiver. No waiver
         shall be binding unless executed in writing by the party making the
         waiver.

5.5      HEADINGS. The headings provided herein are for convenience only and
         shall have no force or effect upon the construction or interpretation
         of any provision hereof.

5.6      COUNTERPARTS; FACSIMILES. This Agreement may be executed in one or more
         counterparts, each of which shall be deemed an original, but all of
         which together shall constitute one and the same instrument. Facsimiles
         containing original signatures shall be deemed for all purposes to be
         originally-signed copies of the documents which are the subject of such
         facsimiles.

5.7      FURTHER DOCUMENTS AND ACTS. Each party agrees to execute such other and
         further documents and to perform such other and further acts as may be
         reasonably necessary to carry out the purposes and provisions of this
         Agreement.

5.8      GOVERNING LAW; VENUE. This Agreement shall be governed by and construed
         in accordance with the internal laws of the State of California
         applicable to the performance and enforcement of contracts made within
         such state, without giving effect to the law of conflicts of laws
         applied thereby. In the event that any dispute shall occur between the
         parties arising out of or resulting from the construction,
         interpretation, enforcement or any other aspect of this Agreement, the
         parties hereby agree to accept the exclusive jurisdiction of the Courts
         of the State of California sitting in and for the County of Orange. In
         the event either party shall be forced to bring any legal action to
         protect or defend its rights hereunder, then the prevailing party in
         such proceeding shall be entitled to reimbursement from the
         non-prevailing party of all fees, costs and other expenses (including,
         without limitation, the reasonable expenses of its attorneys) in
         bringing or defending against such action.


                                       7



<PAGE>

5.9      SEVERABLE PROVISIONS. The provisions of this Agreement are severable,
         and if any one or more provisions is determined to be illegal,
         indefinite, invalid or otherwise unenforceable, in whole or in part, by
         any court of competent jurisdiction, then the remaining provisions of
         this Agreement and any partially unenforceable provisions to the extent
         enforceable in the pertinent jurisdiction, shall continue in full force
         and effect and shall be binding and enforceable on the parties.


         IN WITNESS WHEREOF, the parties hereto have executed this Agreement as
of the date and year first above written.



RECLAMATION CONSULTING
AND APPLICATIONS, INC.:                     ATTEST:


   By:   /s/ Gordon W. Davies            By: /s/ Michael C. Davies
         Gordon W. Davies                       Michael C. Davies
         President                              Secretary





CANVASBACK COMPANY LIMITED:

   By:    /s/ Bernadine Romney
   Name:  Bernadine Romney
          Authorized Signatory


                                       8



<PAGE>

                                   SCHEDULE A

                                       TO

                   SECURED REVOLVING LINE OF CREDIT AGREEMENT

                               DATED JULY 18, 2007
--------------------------------------------------------------------------------


Date              Original Amount            Loan Balance

26-Apr-07            $50,000                   $ 50,000
30-Apr-06            $100,000                  $150,000
29-May-07            $100,000                  $250,000
07-June-07           $100,000                  $350,000
29-June-07           $200,000                  $550,000
13-July-07           $30,000                   $580,000
16-July-07           $10,000                   $590,000


Accrued Interest as Of July 18, 2007         $ 8,192.88


Balance of Interim
Loans as of July 18, 2007                   $598,192.88




<PAGE>

THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE "ACT"), NOR UNDER THE LAWS OF ANY STATE, AND MAY NOT BE RESOLD,
ASSIGNED, PLEDGED, OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION
STATEMENT UNDER THE ACT OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY
THAT REGISTRATION UNDER THE ACT IS NOT REQUIRED.


                                 PROMISSORY NOTE
                                 ---------------

$3,000,000                                                         July 18, 2007

         FOR VALUE RECEIVED, RECLAMATION CONSULTING AND APPLICATIONS, INC., a
corporation organized and existing under the laws of the State of Colorado
(hereinafter referred to as the "BORROWER"), hereby promises to pay to the order
of CANVASBACK COMPANY LIMITED, an Anguilla company, (hereinafter referred to as
the "LENDER"), at his/her/its principal address located at Hannah Waiver House,
The Valley, Anguilla BWI, or such other place or places as the Lender may
hereafter direct from time to time, in lawful money of the United States and in
immediately available funds, the principal sum of Three Million Dollars
($3,000,000), or such other or greater amount as may be outstanding, plus all
accrued unpaid interest. This Promissory Note (hereinafter referred to as the
"NOTE") shall accrue simple interest at the rate of twelve percent (12%) per
annum, calculated on the basis of a 365-day year from the date of this Note. All
accrued unpaid interest outstanding under this Note as of July 18, 2008 shall be
paid by Borrower to Lender no later then July 31, 2008. The aggregate amount of
all principal and all accrued, unpaid interest shall be due and payable on July
17, 2009 (hereinafter referred to as the "MATURITY DATE"). This Note shall be
secured by Borrower but shall be non-recourse as to any shareholder, officer,
director, employee, agent or representative of Borrower.

1. REVOLVING LINE OF CREDIT AGREEMENT. This Note is issued pursuant to that
certain Revolving Line of Credit Agreement, dated as of July 18, 2007, by and
between Borrower and the Lender (the "CREDIT AGREEMENT"), and is subject to the
provisions thereof. If any dispute arises between the terms of the Credit
Agreement and the terms of this Note, the terms of the Credit Agreement shall
prevail. The unpaid principal balance owing on this Note at any time may be
evidenced by endorsements on this Note, by a Schedule attached to this Note, or
by the Lender's internal records, including computer printouts.

2. PREPAYMENT. Borrower shall have the right to prepay the principal amount of
this Note, in whole or in part, at any time and from time to time, prior to the
Maturity Date, without penalty, during the term of this Note, provided that at
the time of such prepayment, Borrower shall also pay to Lender all unpaid
interest accrued on the principal amount of this Note through the date of
prepayment.




<PAGE>

3. SECURITY AGREEMENT. This Note is secured by a security interest in all of
Borrower's assets, which security interest was granted by Borrower to the
original holder of the Note pursuant to the terms of a certain security
agreement of even date hereof (the "SECURITY AGREEMENT").

4. TRANSFERS. This Note may be transferred only in compliance with the Credit
Agreement and with applicable federal and state securities laws, and only upon
surrender of the original Note for registration of transfer, duly endorsed, or
accompanied by a duly executed written instrument of transfer in form
satisfactory to Borrower. Thereupon, a new promissory note for like principal
amount and interest will be issued to, and registered in the name of, the
transferee. Interest and principal are payable only to the registered holder of
this Note. Lender agrees to provide a form W-9 to Borrower on request.

5. WAIVER. No waiver of any provision of this Note shall be deemed to be or
shall constitute a waiver of any other provision, whether or not similar, nor
shall any waiver constitute a continuing waiver. No waiver shall be binding
unless executed in writing by the party making the waiver. This Note shall inure
to the benefit of the Lender, his heirs, executors, successors and permitted
assigns, PROVIDED, however, that this Note shall not be assignable to any party
by contract or by operation of law without the prior written consent of
Borrower. The obligations of Borrower arising hereunder shall become the
obligations of any successor in interest or assignee thereof, whether by
contract or by operation of law.

6. GOVERNING LAW; VENUE. This Note shall be governed by and construed in
accordance with the internal laws of the State of California applicable to the
performance and enforcement of contracts made within such state, without giving
effect to the law of conflicts of laws applied thereby. In the event that any
dispute shall occur between the parties arising out of or resulting from the
construction, interpretation, enforcement or any other aspect of this Note, the
parties hereby agree to accept the exclusive jurisdiction of the Courts of the
State of California sitting in and for the County of Orange.


BORROWER:

RECLAMATION CONSULTING                         ATTEST:
 AND APPLICATIONS, INC.

   By: ___________________________             By:  ___________________________
       Gordon Davies                                Mr. Mike Davies
       President                                    Secretary