| KOKOMO      ENTERPRISES INC.Suite      1000, 1177 West Hastings StreetVancouver,      BC   V6E 2K3Tel:      604 681-1519   Fax: 604 681-9428www.kokomoenterprises.ca   email:      info@kokomoenterprises.ca |
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| A.   | Arqueana,      Doralice and Amilcar (hereinafter collectively referred  to as      the “Arqueana Group”) are collectively the beneficial owner of a 100%      undivided right, title and interest in certain mineral concessions which      are located in the State of Minas Gerais in Brazil as more particularly      described in Exhibit “1” hereto (hereinafter collectively referred to as      “Arqueana’s Mineral Concessions”). |
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| B.   | The      Arqueana Group is the beneficial owner of a 100% right, title and interest      in certain real estate which are located in the State of Minas Gerais in      Brazil as more particularly described in Exhibit “2” hereto (hereinafter      referred to as “Arqueana’s RealEstate”). |
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| C.   | The      Arqueana Group wishes to grant to Kokomo, and Kokomo wishes to acquire up      to a 75% right, title and interest in Arqueana’s Mineral Concessions and      in Arqueana’s Real Estate by entering into and executing a Definitive      Property Option Agreement (hereinafter referred to as the “DPOA”) within a      period of 45 business days from the Effective  Date. |
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| D.   | By      means of a Power of Attorney dated 14 April 2011, Doralice has formally      appointed Amilcar as her attorney to act on behalf of Doralice on all      matters in regards to this LOI and in regards to the DPOA as more      particularly described in Exhibit “3” hereto (hereinafter referred to as      the “Power of Attorney”). |
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| E.   | This      LOI shall expire upon the execution of the DPOA by all the Parties hereto      (hereinafter referred to as “the Term of this  LOI”). |
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| F.   | The      Parties hereto wish to enter into this LOI to formalize the Parties’      respective interests and the ongoing rights and obligations of the      Parties. |
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| G.   | Within      a period of 5 business days from the Effective Date, Kokomo shall effect a      cash payment of Canadian $2,500 by wire transfer to the designated      Brazilian bank account of the ArqueanaGroup. |
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| H.   | Immediately      upon the execution of this LOI by all the Parties hereto, Amilcar shall      provide to Kokomo in writing the complete wiring instructions of the bank      account of the Arqueana Group in order to enable Kokomo to remit the      aforementioned Canadian $2,500 (pursuant to item G of this LOI) to the      bank account of the Arqueana Group. |
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| I.   | The      Parties hereto acknowledge to one another that each Party intends to      perform its obligations as specified in this LOI in good      faith.  Furthermore, each Party hereto agrees not to act in any      manner that shall be prejudicial to the interest of the other      Party. |
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| J.   | The      Arqueana Group hereby covenants with and represents and warrants to Kokomo      that: |
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| i)   | The      Arqueana Group has all the requisite power, standing and authority to      enter into this LOI and engage in the transactions contemplated      hereby; |
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| ii)   | There      is no pending or threatened litigation or liabilities affecting Arqueana’s      Mineral Concessions and Arqueana’s Real Estate (contingent or      otherwise); |
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| iii)   | Arqueana’s      Mineral Concessions and Arqueana’s Real Estate are free and clear of all      security interest, liens, royalties and encumbrances of any nature or kind      whatsoever except for the Instrumento Particular de Concessao de Direitos      de Exclusividade de Expoloracao Mineral e Outras Avencas dated October 10,      2005 and Primero Termo Aditivo Ao Instrumento Particular de Concessao de      Direitos de Exclusividade de Exploracao Mineral e Outras Avencas, Ajustado      Em 10.10.2005 dated March 12, 2009 (collectively referred to as the      “Certain Mining Rights to the Third Party”) as more particularly described      in Exhibit “4” hereto; and, |
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| iv)   | The      Certain Mining Rights to the Third Party shall expire in October 2011 and      upon the expiry of the Certain Mining Rights to the Third Party in October      2011, the Arqueana Group will not renew the Certain Mining Rights to the      Third Party unless Kokomo provides Kokomo’s approval in writing to the      Arqueana Group to renew the existing Certain Mining Rights to the Third      Party . |
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| K.   | This      LOI shall be in the English language and shall be governed by and      construed with the laws of the Province of British Columbia, Canada, and      the courts of the Province of British Columbia, Canada shall have the sole      jurisdiction to entertain any actions, claims, disputes or legal      proceedings in respect to this LOI, and the Parties hereto agree to attorn      to the jurisdiction of such courts.  After the Effective Date,      this LOI shall be translated into the Portuguese language which shall be      notarized and all costs and expenses in respect to the translation and      notarization of this LOI shall be borne solely by the Arqueana      Group.  However, in the event of any discrepancies between the      English language version of this LOI and the Portuguese language version      of this LOI, or in the event of any disputes or claims, the English      language version of this LOI shallprevail. |
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| L.   | The      DPOA shall be in the English language and shall be governed by and      construed with the laws of the Province of British Columbia, Canada, and      the courts of the Province of British Columbia, Canada shall have the sole      jurisdiction to entertain any actions, claims, disputes or legal      proceedings in respect to the DPOA. After the execution of the DPOA by all      the Parties, the DPOA shall be translated into the Portuguese language and      shall be notarized.  However, in the event of any discrepancies      between the English language version of the DPOA and the Portuguese      language version of the DPOA, or in the event of any disputes or claims,      the English language version of the DPOA shall  prevail. |
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| Period                                                        | Cash      Payment in Canadian $ | Kokomo      Common Shares Issuances | Annual      Property Related Expenditures in Canadian $ | Kokomo      Earning Interest in NEWCO | Cumulative      Interest Earned ty Kokomo in NEWCO |
|---------------------------------------------------------------|---------------------------------|-------------------------------------|---------------------------------------------------------|---------------------------------------|----------------------------------------------------|
|  a)      5 Business days after the execution of the DPOA |   $32,500             |   750,000                 |   N/A                                         |   N/A                       |   N/A                                    |
|  b)      1st      Anniversary of the DPOA                |  $165,000                  |  750,000                       |  $1,000,000                                        |  25%                             |  25%                                          |
|  c)      2nd      Anniversary of the DPOA                |  $250,000                  |  1,500,000                     |  $2,000,000                                        |  25%                             |  50%                                          |
|  d)      3rd      Anniversary of the DPOA                |  $350,000                  |  4,000,000                     |  $5,000,000                                        |  25%                             |  75%                                          |
|  GRAND      TOTAL                                        |  $797,500                  |  7,000,000                     |  $8,000,000                                        |  75%                             |  75%                                          |

| ii)   | If,      at anytime, Kokomo is in default of any of its obligations, then Kokomo      shall have a Grace Period of 60 business days in order to rectify its      default. |
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| iii)   | For      greater certainty, upon the expiry of the 1st      Anniversary, if Kokomo has not met its obligations pursuant to item      M.(i)(b) above, then Kokomo will have a Grace Period of 60 business days      to cure its default.  In the event that Kokomo does not cure its      default by the expiry of the Grace Period of 60 business days, then the      DPOA will terminate and Kokomo shall forfeit the cash payments made by      Kokomo, the Kokomo common shares issued by Kokomo and any property related      expenditures expended by Kokomo which shall all be considered as      liquidated damages. |
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| iv)   | If      Kokomo meets it obligations pursuant to item M.(i)(b) above (hereinafter      referred to as the “Date of Fulfilment of Kokomo’s 1st      Anniversary Obligations”), thenimmediately:- |
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| a)   | A      Brazilian limited liability company shall be incorporated (hereinafter      referred to as “NEWCO”) whereby all of the Arqueana Group’s assets      including Arqueana’s Mineral Concessions and Arqueana’s Real Estate shall      be transferred to NEWCO free and clear of any charges, encumbrances,      taxes, debts,  liabilities whatsoever, BUT excluding the Urubu      Mine and the Urubu Mine land property (hereinafter collectively referred      to as the “Urubu Mine and Property”) having a total area not exceeding 25      (twenty five)  hectares.*  Kokomo shall have a 25%      shareholding interest in NEWCO, and the Arqueana Group shall have a 75%      shareholding interest in NEWCO, |
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| b)   | NEWCO      shall be subject to the applicable Brazilian  laws. |
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| c)   | After      45 business days from the Date of Fulfilment of Kokomo’s 1st      Anniversary Obligations, Kokomo must provide written notification to the      Arqueana Group as to whether or not Kokomo intends to proceed further with      the DPOA.  If Kokomo provides the Arqueana Group with a written      notication that Kokomo intends to proceed further with the DPOA, then item      M.(i)(c) above shall become a firm commitment of  Kokomo, |
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| d)   | The      Management of NEWCO shall be Kokomo, however Amilcar shall be a director      of NEWCO and all decisions shall be made jointly, taking into      consideration the recommendations of the third party international      consulting firm which will be selected and hired by      Kokomo.  Amilcar shall receive a monthly director’s salary of      Canadian $10,000 (Ten Thousand Canadian dollars) from NEWCO for as long as      Amilcar is a director of NEWCO and provided that Amilcar acts in the best      interests of NEWCO and Kokomo.  If NEWCO decides to continue the      present mining operations on Arqueana’s Mineral Concessions, then all of      the benefits from the mining operations and all of its obligations shall      become NEWCO’s benefits andobligations, |
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|        e)  | In      the event that Kokomo stays with its 25% shareholding in NEWCO and does      not increase its 25% shareholding in NEWCO, then Amilcar shall take over      the management of NEWCO and each party shall be responsible for its      proportionate share of expenditures of NEWCO.  If any party’s      interest in NEWCO is diluted to less than 8%, then such party’s interest      shall forever be converted to a 2% NSR Royalty Interest. For greater      certainty, if Kokomo’s interest in NEWCO is diluted to less than 8%, then      Kokomo’s interest shall forever be converted to a 2% NSR Royalty      Interest.  If the Arqueana Group interest is diluted down to a      2% NSR Royalty Interest, then Amilcar shall no longer be a director of      NEWCO and Amilcar shall no longer receive the monthly director’s salary of      Canadian$10,000 (Ten Thousand Canadian Dollars) from NEWCO, |
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|        f)  | At      least 25% of the Net Profits of NEWCO (for greater certainty,      Net    Profits shall mean after paying all expenses,      liabilities and taxes) shall be distributed to all the shareholders      according to their proportionate shareholding interest in NEWCO (the      “Dividend”).  And such Dividend may be used by any shareholder      (either by the Arqueana Group or by Kokomo) to complete an      investment/expenditure call.  For greater certainty, if Kokomo      receives any Dividend from NEWCO, then Kokomo can apply such Dividend      towards Kokomo’s obligations to incur Annual Property Related Expenditures      or investment calls. |
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| a)   | Kokomo’s      shareholding interest in NEWCO shall immediately increase from 25% to      50%, |
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| b)   | After      45 business days from the Date of Fulfilment of Kokomo’s 2nd      Anniversary Obligations, Kokomo must provide written notification to the      Arqueana Group as to whether or not Kokomo intends to proceed further with      the DPOA.  If Kokomo provides to the Arqueana Group with a      written notification that Kokomo intends to proceed further with the DPOA,      then item M.(i)(d) above shall become a firm commitment of      Kokomo, |
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| c)   | The      Management of NEWCO shall be Kokomo, however Amilcar shall be a director      of NEWCO and all decisions shall be made jointly, taking into      consideration the recommendations of the third party international      consulting firm which will be selected and hired by      Kokomo.  Amilcar shall receive a monthly director’s salary of      Canadian $10,000 (Ten Thousand Canadian Dollars) from NEWCO for as long as      Amilcar is a director of NEWCO and provided that Amilcar acts in the best      interests of NEWCO and Kokomo.  If NEWCO decides to continue      with the mining operations on the property, then all of the benefits from      the mining operations and all of its obligations shall become NEWCO’s      benefits and obligations, |
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|   | d)  | In      the event that Kokomo stays as a 50% shareholder of NEWCO      and   does not increase its 50% shareholding in NEWCO, then      each party shall be responsible for its proportionate share of      expenditures of NEWCO, and the management of NEWCO will be      Kokomo.  However, if Kokomo’s interest in NEWCO is diluted to      under 50% interest, then Amilcar shall take over the management of      NEWCO.  If any party’s interest in NEWCO is diluted to less than      8%, then such party’s interest shall forever be converted to a 2% NSR      Royalty Interest.  If the Arqueana Group’s interest is diluted      down to a 2% NSR Royalty Interest, then Amilcar shall no longer be a      director of NEWCO and furthermore, Amilcar shall no longer receive the      monthly director’s salary of Canadian $10,000 (Ten Thousand Canadian      Dollars) from NEWCO. |
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|        f)  |   At      least 25% of the Net Profits of NEWCO (for greater certainty,      Net    Profits shall mean after paying all expenses,      liabilities and taxes) shall be distributed to all the shareholders      according to their proportionate shareholding interest in NEWCO (the      “Dividend”).  And such Dividend may be used by any shareholder      (either by the Arqueana Group or by Kokomo) to complete an      investment/expenditure call.  For greater certainty, if Kokomo      receives any Dividend from NEWCO, then Kokomo can apply such Dividend      towards Kokomo’s obligations to incur Annual Property Related Expenditures      or investment calls. |
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| vi)   | If      Kokomo meets its obligations pursuant to item M.(i)(d) above (hereinafter      referred to as the “Date of Fulfilment of Kokomo’s 3rd      Anniversary Obligations”), then:- |
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| a)   | Kokomo’s      shareholding interest in NEWCO shall immediately increase from 50% to      75%, |
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|   | b)   | The      Management of NEWCO shall be Kokomo, however Amilcar shall be a director      of NEWCO and all decisions shall be made jointly, taking into      consideration the recommendations of the third party international      consulting firm which will be selected and hired by      Kokomo.  Amilcar shall receive a monthly director’s salary of      Canadian $10,000 (Ten Thousand Canadian Dollars) from NEWCO for as long as      Amilcar is a director of NEWCO and provided that Amilcar acts in the best      interests of NEWCO and Kokomo.  If NEWCO decides to continue      with the mining operations on the property, then all of the benefits from      the mining operations and all of its obligations shall become NEWCO’s      benefits and obligations, |
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|        c)   |   After      45 business days from the Date of Fulfilment of Kokomo’s 3rd     Anniversary      Obligations, the shareholders of NEWCO must make a decision as to whether      or not they wish to contribute with their proportionate share of expenses      of NEWCO. Provided that the right of First Refusal of any party is not      prejudiced, each party shall, at its sole discretion, be allowed to use      its shares as collateral to guarantee its financial      obligations.  If the Arqueana Group does not contribute with the      Arqueana Group’s proportionate share of expenditures, and if the Arqueana      Group decides that the Arqueana Group wishes to maintain the Arquena      Group’s 25% shareholding interest in NEWCO, then Kokomo shall lend to the      Arqueana Group the required funds at an interest rate that shall be 2%      over and above the interest rate obtained by Kokomo, and such interest      shall be compounded on a monthly basis and the loan together with the      compounded interest shall be repayable to Kokomo by no later than 730 days      from the date of commencement of commercial production from the mining      project (hereinafter referred to as the “Due Date”).  If the      Arqueana Group does not repay the loan plus the compounded interest by the      Due Date to Kokomo, then the Arqueana Group will be diluted down to zero      and the Arqueana Group shall have no further interest whatsoever in      Arqueana’s Mineral Concessions,  Arqueana’s Real Estate and in      NEWCO, and furthermore, Amilcar shall immediately cease to be a director      of NEWCO and Amilcar will no longer receive any remuneration or benefits      whatsoever from NEWCO. |
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|   | d)  | At      least 25% of the Net Profits of NEWCO (for greater certainty,      Net    Profits shall mean after paying all expenses,      liabilities and taxes) shall be distributed to all the shareholders      according to their proportionate shareholding interest in NEWCO (the      “Dividend”).  And such Dividend may be used by any shareholder      (either by the Arqueana Group or by Kokomo) to complete      investment/expenditure calls.  For greater certainty, if Kokomo      receives any Dividend from NEWCO, then Kokomo can apply such Dividend      towards Kokomo’s obligations to investment/expenditure    calls. |
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| vii)   | The      Kokomo common shares that shall be issued to the Arqueana Group will be      subject to hold periods and restrictions on resale in accordance with      applicable securities laws, and the rules and regulations of the Canadian      National Stock Exchange (the“CNSX”). |
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| viii)   | The      DPOA will be subject to the followingapprovals: |
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| a)   | the      approval of the CNSX, and, |
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| b)   | if      required by the CNSX, the approval of the shareholders of      Kokomo. |
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| ix)   | The      DPOA shall contain standard provisions for these types of transactions,      and such provisions shall include, but shall not be limited to, Force      Majeure.  The Force Majeure provision shall provide for      financial, economical, technical, environmental, ecological, political and      climatic eventualities. |
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| x)   | Kokomo      shall grant to Eng. Jorge Valente a Power of Attorney to deal with all      matters in respect to Kokomo’s interests in Brazil.  Eng. Jorge      Valente shall be Kokomo’s duly authorized CEO in Brazil.  In the      event that Eng. Jorge Valente is unable or is unwilling to act as Kokomo’s      duly authorized CEO in Brazil, then Kokomo shall forthwith appoint another      individual, of Kokomo’s choice, to act as Kokomo’s duly authorized CEO in      Brazil. |
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| xi)   | Kokomo,      may at its sole discretion, at anytime and from time to time, pay the      Arqueana Group cash in lieu of incurring Annual Property Related      Expenditures. |
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| xii)   | Kokomo      shall have the right to incur additional Annual Property Related      Expenditures in excess of that required for any particular year, which may      be carried over to the following year or years and shall be credited      against such future year’s Annual Property Related      Expenditures. |
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| xiii)   | During      the first year of the DPOA, Kokomo shall be the sole and exclusive manager      and operator of the Property and shall carry out the recommendations of      the third party International Consulting firm which will be selected and      hired by Kokomo.  The Arqueana Group, shall not, directly or      indirectly, interfere with Kokomo’s decisions and/or      activities. |
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| xiv)   | At      all times, and without any exceptions whatsoever, Kokomo will be allowed      to conduct its exploration and development work programmes on any part of      the Property that Kokomo, in its sole discretion, deems appropriate,      without encountering any hindrances whatsoever, directly or indirectly,      from the Arqueana Group. |
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| xv)   | During      the first year of the DPOA, the Arqueana Group, at its own risk, costs and      expenses and for the benefit of the Arqueana Group, shall carry out the      current mining operations which are located on Arqueana’s Mineral      Concessions.  However, the Arqueana Group will not be allowed to      carry out any mining operations on any discoveries that may be made on      Arqueana’s Mineral Concessions through the efforts of    Kokomo. |
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| xvi)   | At      all times, the parties shall exchange with each other technical      information in respect to Arqueana’s Mineral  Concessions. |
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| xvii)   | At      all times Kokomo shall have the right of first refusal to purchase from      the Arqueana Group, Arqueana Group’s shareholding position in NEWCO, and      at all times the Arqueana Group shall have the right of first refusal to      purchase Kokomo’s shareholding position in  NEWCO. |
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| xviii)   | At      all times Kokomo shall have the right of first refusal to purchase from      the Arqueana Group its 2% NSR Royalty Interest in the event that the      Arqueana Group’s interest in NEWCO is diluted down to a 2% NSR Royalty      Interest, and at all times the Arqueana Group shall have the right of      first refusal to purchase from Kokomo, Kokomo’s 2% NSR Royalty Interest in      the event that Kokomo’s interest in NEWCO is diluted down to a 2% NSR      Royalty. |
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| xix)   |  After      6 months from the time that Kokomo has earned its 75% interest in NEWCO,      NEWCO shall cause to prepare a Final Mine Construction Bankable Report      compliant with National Instrument 43-101 that shall be prepared by an      Independent Qualified Person and which must be acceptable to the Canadian      Regulatory Authorities (hereinafter referred to as the “FMCB      Report”).   All costs and expenses that shall be incurred      in respect to the preparation of the FMCB Report shall be solely and      exclusively borne by NEWCO.  If the FMCB Report determines and      concludes that the project will support a mining/milling/processing      operation of not less than 2,000 tonnes of Run of Mine Ore per day for a      minimum period of 15 years with a minimum IRR of 38%, then Kokomo shall      make a bonus payment of Canadian $500,000 and shall issue 1,500,000 Kokomo      common shares to the Arqueana Group (the “Initial Bonus      Payment”).  And, if the FMCB Report determines and concludes the      existence of reserves of at least 50% of the reserves that are detailed in      Arqueana’s Pegmatite table which is attached hereto as Exhibit 5, then      Kokomo shall make a bonus payment of Canadian $500,000 and shall issue      1,500,000 Kokomo common shares to the Arqueana Group (the “Subsequent      Bonus Payment”). |
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| xx)   | (a)      For greater certainty, Annual Property Related Expenditures shall be      defined as  follows and shall include the      following:- |
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| i)   | all      exploration and development expenditures on or with respect to the      Property, |
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|       ii)  |  all      costs and expenses for conducting tests and studies for the      Property, |
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| iii)   | all      Property filing fees and assessments including, but not limited to, costs      and expenses for all technical reporting requirements of the Regulatory      and Governmental Authorities, |
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|       iv)   | all      consultants’, lawyers’, notaries’, analysts’, investment      bankers’,accountants’ and auditors’ costs and disbursements in respect to      Arqueana’s Mineral Concessions, Arqueana’s Real Estate and      NEWCO, |
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| v)   | all      translation, transference and notarization costs and expenses, all      communications costs and expenses and any other miscellaneous costs and      expenses in respect to Arqueana’s Mineral Concessions, Arqueana’s Real      Estate and NEWCO, |
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| vi)   | all      financing and financing related costs and expenses that shall be incurred      by Kokomo in respect to Arqueana’s Mineral Concessions, Arqueana’s Real      Estate and NEWCO, |
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| vii)   | all      travels, meals, lodgings and out-of-pocket expenses of Kokomo’s directors,      personnel, consultants and representatives for visits to      Brazil, |
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| ix)   | all      costs and expenses of NEWCO.  For the avoidance of doubt, all      costs and expenses of NEWCO shallmean: |
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| a)   | the      incorporation costs and expenses ofNEWCO, |
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| b)   | the      costs and expenses for the transference of Arqueana’s Mineral Concessions      and Arqueana’s Real Estate into NEWCO,and, |
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| c)   | all      cash infusions into NEWCO in the event that, from time to time, NEWCO      experiences working capitaldeficiencies. |
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| (b)   | For      greater certainty, Annual Property Related Expenditures shall not include      the  following:- |
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| i)   | the      cash payments referred to under item M.(i) (a), (b), (c) and (d) above      and, |
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| ii)   | the      Kokomo share issuances referred to under item M.(i) (a), (b), (c) and (d)      above. |
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| (c)   | For      as long as the DPOA is not terminated, on each and every anniversary of      the |
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| N. | Kokomo      shall issue to Eng. Jorge Valente, as finder’s fee, as fully paid and      non-assessable, 1,000,000 common shares of Kokomo within 5 business days      after the execution of the DPOA.  Such shares shall be subject      to hold periods and restrictions on resale in accordance with applicable      securities laws and the rules and regulations of the  CNSX. |
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| O. | The      Parties hereto may execute this LOI in counterparts and deliver same by      facsimile or email, each counterpart being deemed to be an original and      together constituting one agreement, effective as of the date given      above. |
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| P. | Kokomo      may make any press/news releases and other announcements in respect to the      terms of this LOI as are necessary and advisable to fulfill Kokomo’s      continuous disclosure obligations under applicable securities laws and the      rules and policies of the CNSX. |
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| Q. | This      LOI supersedes and replaces all prior representations, understandings and      agreements whether written or oral, between the Parties hereto, and upon      the execution of this LOI by all the Parties hereto, all prior      representations, understandings and agreements shall be deemed to be null      and void and of no further force oreffect. |
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| R. | The      Parties hereto agree to execute and deliver all such further documentation      and to do all such further acts and things as may be necessary and      desirable to give effect to the intent of this  LOI. |
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| S. | During      the Term of this LOI, Kokomo may at its sole discretion, hire consultants      to conduct visits to Arqueana’s Mineral Concessions in order to inspect,      study and prepare reports.  Also, during the Term of this LOI,      Kokomo may at its sole discretion, cause its directors, its authorized      representatives and agents to visit Arqueana’s Mineral Concessions in      order to carry out their investigations and/or inspections.  All      costs and expenses which Kokomo may incur in respect to such visits to      Arqueana’s Mineral Concessions shall be considered as Annual Property      Related Expenditures for the purposes of the  DPOA. |
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| T. | The      Arqueana Group will, at all times, during the Term of this LOI, give      Kokomo and its authorized representatives and agents (including, but not      limited to, Kokomo’s counsel, financial advisors, investment bankers,      auditors, geologists, geophysicists and engineers) reasonable access      during normal business hours or other mutually agreeable times to all      employees, offices, warehouses, mines, mineral projects, financial      information, budgets, resource and reserve reports, technical reports,      feasibility studies, and technical and scientific data concerning      Arqueana’s Mineral Concessions and Arqueana’s Real Estate (including all      exploration, sampling and assay data, core logs, core samples and other      fundamental data on which the technical reports on Arqueana’s Mineral      Concessions and Arqueana’s Real Estate are based) and other facilities and      to all books and records of the Arqueana Group in respect of Arqueana’s      Mineral Concessions and Arqueana’s Real Estate, and give Kokomo and its      authorized representatives sufficient opportunity and time to review all      information so disclosed. |
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| U. | Kokomo      may assign all of its rights, benefits and obligations under this LOI or      under the DPOA to a third party provided that the third party assumes in      writing Kokomo’s obligations pursuant to this LOI or pursuant to the DPOA,      as the case may be. |
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| V. | This      LOI constitutes the entire agreement between the Parties      hereto.  No amendment of this LOI shall be binding unless set      forth in writing duly executed by each of the Parties affected by such      amendment. |
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| W. | Time      shall be of the essence hereof. |
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| X. | When      fully executed by all the Parties hereto, this LOI shall be binding upon      the parties hereto and their successors, and shall inure to the benefits      of the Parties hereto and to theirsuccessors. |
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|                                           | KOKOMO ENTERPRISES      INC.                  |                               | Witnessed      in the presence of:                                                                                                                                                                                                                                                                           |
|------------------------------------------------|-----------------------------------------------|------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                           |                                          |                               |                                                                                                                                                                                                                                                                                                         |
| Per:                                           |                                          |                               |                                                                                                                                                                                                                                                                                                         |
|                                           | Authorized      Signatory                     |                               | Signature      of Witness                                                                                                                                                                                                                                                                                    |
|                                           |                                          |                               |                                                                                                                                                                                                                                                                                                         |
|                                           |                                          |                               |                                                                                                                                                                                                                                                                                                         |
|        Name      of Authorized Signature  |                                          | Name      of Witness               |
|                                           |                                          |                               |                                                                                                                                                                                                                                                                                                         |
|                                           |                                          |                               |                                                                                                                                                                                                                                                                                                         |
|        Title      of Authorized Signatory |                                          | Occupation      of Witness         |
|                                           |                                          |                               |                                                                                                                                                                                                                                                                                                         |
|                                           |                                          |                               |                                                                                                                                                                                                                                                                                                         |
|                                           | ARQUEANA      DE MINÉRIOS E METAIS LTDA. |                               | Witnessed      in the presence of:                                                                                                                                                                                                                                                                           |
|                                           |                                          |                               |                                                                                                                                                                                                                                                                                                         |
| Per:                                           |                                          |                               |                                                                                                                                                                                                                                                                                                         |
|                                           | Authorized      Signatory                     |                               | Signature      of Witness                                                                                                                                                                                                                                                                                    |
|                                           |                                          |                               |                                                                                                                                                                                                                                                                                                         |
|                                           |                                          |                               |                                                                                                                                                                                                                                                                                                         |
| Name      of Authorized Signature              |                                          | Name      of Witness               |
|                                           |                                          |                               |                                                                                                                                                                                                                                                                                                         |
|                                           |                                          |                               |                                                                                                                                                                                                                                                                                                         |
| Title      of Authorized Signatory             |                                          | Occupation      of Witness         |
|                                           |                                          |                               |                                                                                                                                                                                                                                                                                                         |
|                                           |                                          |                               |                                                                                                                                                                                                                                                                                                         |
|        DORALICE      DE SOUZA BRITO       |                                          | Witnessed      in the presence of: |
|                                           |                                          |                               |                                                                                                                                                                                                                                                                                                         |
| Per:                                           |                                          |                               |                                                    |
|                                           | Authorized      Signatory, By Her             |                               | Signature      of Witness                                                                                                                                                                                                                                                                                    |
|                                           | Power      of Attorney                        |                               |                                                                                                                                                                                                                                                                                                         |
|                                           |                                          |                               |                                                                                                                                                                                                                                                                                                         |
|                                           |                                          |                               |                                                                                                                                                                                                                                                                                                         |
| Name      of Authorized Signature              |                                          | Name      of Witness               |
|                                           |                                          |                               |                                                                                                                                                                                                                                                                                                         |
|        Attorney                           |                                          |                               |
|        Title      of Authorized Signatory |                                          | Occupation      of Witness         |
|                                           |                                          |                               |                                                                                                                                                                                                                                                                                                         |

----

| AMILCAR DE MELO      AFGOUNI   |                      | Witnessed      in the presence of: |
|------------------------------------------|---------------------------|------------------------------------|
|                                     |                      |                               |   |
| Per:                                     |                      |                               |   |
|                                     | Authorized      Signatory |                               | Signature      of Witness |
|                                     |                      |                               |   |
|  Name      of Authorized Signature  |                      | Name      of Witness               |
|                                     |                      |                               |   |
|  Title      of Authorized Signatory |                      | Occupation      of Witness         |

----