---

LOAN AGREEMENT

amongst

ROCKWELL VENTURES INC

ROCKWELL RESOURCES RSA (PROPRIETARY)LIMITED

DURNPIKE INVESTMENTS (PROPRIETARY) LIMITED

JEFFREY BRENNER

ROBBIE BLAU

LARRY LIPSCHITZ

MARK BRISTOW

JOHN BRISTOW

LES JOHNSTON

GAWIE MALAN

and

IRA EPSTEIN



---

TABLE OFCONTENTS

|1.  | PARTIES                                               | 1 
|--- | ----------------------------------------------------- | --
|2.  | INTERPRETATION                                        | 1 
|3.  | RECORDAL                                              | 17
|4.  | LOAN
      AND ADVANCE OF PRINCIPAL                   | 18
|5.  | ATTORNEYS
      INSTRUCTIONS                          | 19
|6.  | REPAYMENT
      OF PRINCIPAL AND INTEREST             | 23
|7.  | UNDERTAKINGS
      IN RESPECT OF THE CONSIDERATION    | 24
|8.  | CONVERSION
      OF THE PRINCIPAL INTO A LOAN ACCOUNT | 25
|9.  | DEFINITIVE
      AGREEMENTS                           | 26
|10. | SURETYSHIPS                                           | 27
|11. | GENERAL
      PROVISIONS                              | 28
|12. | DEFINITIVE
      AGREEMENT COSTS                      | 28
|13. | BREACH                                                | 29
|14. | ARBITRATION                                           | 29
|15. | NOTICES
      AND DOMICILIA                           | 30
|16. | VARIATION                                             | 32
|17. | RELAXATION                                            | 32
|18. | SEVERABILITY                                          | 33
|19. | WHOLE
      AGREEMENT                                 | 33
|20. | COUNTERPARTS                                          | 33

|ANNEXURE A | - | RVI PLEDGE
|------------ | - | ----------



---

LOAN AGREEMENT

|1. | PARTIES
|-- | -------

|1.1  | ROCKWELL VENTURES INC                         
|---- | ----------------------------------------------
|     |                                               
|1.2  | ROCKWELL RESOURCES RSA (PROPRIETARY)
  LIMITED
|     |                                               
|1.3  | DURNPIKE INVESTMENTS (PROPRIETARY)
  LIMITED  
|     |                                               
|1.4  | JEFFREY BRENNER                               
|     |                                               
|1.5  | ROBBIE BLAU                                   
|     |                                               
|1.6  | LARRY LIPSCHITZ                               
|     |                                               
|1.7  | MARK BRISTOW                                  
|     |                                               
|1.8  | JOHN BRISTOW                                  
|     |                                               
|1.9  | LES JOHNSTON                                  
|     |                                               
|1.10 | GAWIE MALAN                                   
|     |                                               
|1.11 | IRA EPSTEIN                                   

|2. | INTERPRETATION
|-- | --------------

|2.1 | The headnotes to the clauses of this Agreement are
      inserted for reference purposes only and shall in no way govern or affect
      the interpretation hereof.
|--- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------



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Page 2

|2.2 | Unless inconsistent with the context, the expressions set
      forth below shall bear the following meanings:
|--- | --------------------------------------------------------------------------------------------------------------

| | Advance Date | the date on which:
| | -------------- | ------------------
| |                |                   
| |                | •                 
| |                |                   
| |                | •                 
| |                |                   
| |                | •                 
| |                |                   
| |                | •                 



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Page 3

| |                 |                                                                                                                                                                | 3 Business Days prior to the date that the
      obligation to make payment arises; and                                                                       
| | --------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------
| |                 |                                                                                                                                                                |                                                                                                                                                               
| |                 | •                                                                                                                                                              | the Guarantee Amount will have been
      advanced to the Tabacks Trust Account, which will be no later than 3
      Business Days prior to the Delivery Date;
| |                 |                                                                                                                                                                |                                                                                                                                                               
| |                 | as the case may be                                                                                                                                            
| |                 |                                                                                                                                                               
| | Agreement     | the agreement as set out in this document                                                                                                                     
| |                 |                                                                                                                                                               
| | Attorneys     | Engelsman Attorneys and Tabacks Attorneys
      collectively                                                                                                  
| |                 |                                                                                                                                                               
| | Attorneys Act | the Attorneys Act, No. 53 of 1979, as
      amended                                                                                                           
| |                 |                                                                                                                                                               
| | Borrower      | DurnpikeInvestments(Proprietary)Limited,registrationnumber1998/018109/07, a company dulyincorporated andregistered inaccordance with the
      laws of the RSA



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Page 4

| | Business Day            | any day other than a Saturday, Sunday or official public
      holiday in RSA or Canada                                                                             
| | ------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |                           |                                                                                                                                                                     
| | Closing Date            | the date as defined in the Sale Agreement                                                                                                                           
| |                           |                                                                                                                                                                     
| | Competition Authorities | the Competition Commission or Competition Tribunal, as
      the case may be, as constituted from time to time in terms of the
      Competition Act, No. 89 of 1998
| |                           |                                                                                                                                                                     
| | Consideration           | the ZAR34 million payable by the Lender to the Vendors in
      the form of the Common Shares in terms of the provisions of:                                        
| |                           |                                                                                                                                                                     
| |                           | •                                                                                                                                                                   
| |                           |                                                                                                                                                                     
| |                           | •                                                                                                                                                                   



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Page 5

| |         | mutatis mutandison the basis as provided for in
      sections 1(d) and 3(a)(ii) of the HoA
| | ------- | -------------------------------------------------------------------------------------------
| |         |                                                                                            
| | Costs | comprise any one or more of the following:                                                 
| |         |                                                                                            
| |         | •                                                                                          
| |         |                                                                                            
| |         | •                                                                                          
| |         |                                                                                            
| |         | •                                                                                          



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Page 6

| |                        |                                                                                                                                                                      | theimplementation oftheTransaction Agreements, which shallinclude
      but not be limited to the feespayabletothe CompetitionAuthorities, SARB
      and any otherfees payable to regulatory bodies(including but not limited to the DME)payable
      as and when such fees falldue for payment
| | ---------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |                        |                                                                                                                                                                     
| | Definitive Agreement | the
        agreement to be concluded betweenthe Vendors, RVI,
        HDI and Jester                                                                               
| |                        |                                                                                                                                                                     
| | Delivery Date        | the
        date upon which the Borrower willbecome obliged to
        deposit theGuarantee Amount, which date isexpected to be
        on or about 30September 2006
| |                        |                                                                                                                                                                     
| | DME                  | the
        Department of Minerals and Energy Affairs                                                                                                               
| |                        |                                                                                                                                                                     
| | Durnpike Loan        | the
        loan of ZAR24 million to beadvanced by the Borrower to HCWD interms of
        the Shareholders Agreement                                              



---

Page 7

| | Engelsman Attorneys     | Engelsman Magabane Incorporated,registration number 1998/002635/21                             
| | ------------------------- | -----------------------------------------------------------------------------------------------
| |                           |                                                                                                
| | Engelsman Trust Account | thetrust account of
      EngelsmanAttorneys, details of which are:                            
| |                           |                                                                                                
| |                           | Accountholder:Engelsman
      Magabane                                                         
| |                           | Inc                                                                                            
| |                           | Bank:Nedbank                                                                                   
| |                           | Branch:Kimberley                                                                               
| |                           | Branch code:103502                                                                             
| |                           | Account no.:1035
      254 212                                                                 
| |                           |                                                                                                
| | Final Date              | 31 March 2007                                                                                  
| |                           |                                                                                                
| | First Tranche           | an amount of ZAR50 million payable bythe Borrower to the Trustees in terms ofthe Sale Agreement
| |                           |                                                                                                
| | Fulfilment Date         | the date upon which:                                                                           
| |                           |                                                                                                
| |                           | •                                                                                              
| |                           |                                                                                                
| |                           | •                                                                                              



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Page 8

| |                    | of the Durnpike Loan                                                                                                                                                                                                                                  
| | ------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |                    |                                                                                                                                                                                                                                                       
| | Guarantee Amount | the amount required to release, interalia, the Trustees and VWDG from theirrespective suretyship and guaranteeobligations in terms of the provisions ofthe
      Sale Agreement                                                                       
| |                    |                                                                                                                                                                                                                                                       
| | HCWD             | H C van Wyk Diamonds (Proprietary)Limited,registrationnumber2001/006812/07, a private companyduly incorporated and registered inaccordance with the laws of the RSAwhich is in
      the process of beingconverted to an unlisted public
      company
| |                    |                                                                                                                                                                                                                                                       
| | HDI              | Hunter Dickinson Inc., a companyincorporated under the Federal Laws ofCanada                                                                                                                                                                          
| |                    |                                                                                                                                                                                                                                                       
| | High Court       | the High Court of the RSA                                                                                                                                                                                                                             
| |                    |                                                                                                                                                                                                                                                       
| | Interest         | the interest payable and earned on thePrincipal or such portions thereofdeposited in the Engelsman TrustAccount and/or
      the Tabacks Trust                                                                                                        



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Page 9

| |                 | Account, as the case may be                                                                                                                                                     
| | --------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |                 |                                                                                                                                                                                 
| | Interest Rate | the interest rate applicable to therelevant Trust Account from time to time                                                                                                     
| |                 |                                                                                                                                                                                 
| | Jester        | TheJesterInvestmentTrust,IT2101/2003, an inter vivostrustregistered under the laws of the RSA                                                                                   
| |                 |                                                                                                                                                                                 
| | JSE           | the JSE Limited, registration number2005/022939/06, a stock exchangebeing apubliccompanydulyincorporatedandregisteredinaccordance with the laws of the RSA                      
| |                 |                                                                                                                                                                                 
| | Klipdam       | Klipdam Diamond Mining CompanyLimited,registrationnumber1994/001754/06, an unlisted
      publiccompanydulyincorporatedandregistered
      in accordance with the lawsof the RSA
| |                 |                                                                                                                                                                                 
| | Lender        | Rockwell Resources RSA (Proprietary)Limited,registrationnumber2005/023297/07, a private companyduly
      incorporated and registered under                                     



---

Page 10

| |                        | the laws of the Republic of South Africa                                                                                                                                                                             
| | ---------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |                        |                                                                                                                                                                                                                      
| | Loan                 | the loan of the Principal made by theLender to the Borrower pursuant to thisAgreement                                                                                                                                
| |                        |                                                                                                                                                                                                                      
| | Master               | the Master of the High Court                                                                                                                                                                                         
| |                        |                                                                                                                                                                                                                      
| | Option Consideration | an amount of ZAR1 million                                                                                                                                                                                            
| |                        |                                                                                                                                                                                                                      
| | Option Shares        | 50 ordinary shares in the share capitalof HCWD (constituting 2% of the entireissued share capital of HCWD)                                                                                                           
| |                        |                                                                                                                                                                                                                      
| | Outside Date         | 7 July 2006                                                                                                                                                                                                          
| |                        |                                                                                                                                                                                                                      
| | Parties              | theLenderandtheBorrower,collectively and Party shall mean eitherone of them as the context requires                                                                                                                
| |                        |                                                                                                                                                                                                                      
| | Pledge               | the agreement of pledge entered intobetween the Borrower and the Trusteessimultaneously with the Sale agreementin terms
      of which 20% of the equityinterest in Klipdam and
      HCWD arepledged to the Trustees



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Page 11

| | Principal           | the aggregate of all amounts advanced to the Borrower by
      the Lender, which shall include but not be limited to the amount(s) the
      Borrower may become obliged to pay pursuant to the implementation of the
      Sale Agreement and the Shareholders Agreement, but prior to the
      Definitive Agreement, having taken effect
| | --------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |                       |                                                                                                                                                                                                                                                                                                                                             
| | Reversionary Rights | the reversionary rights of the Borrower in the 20% equity
      interest in Klipdam and HCWD upon the Pledge not being enforced                                                                                                                                                                                                             
| |                       |                                                                                                                                                                                                                                                                                                                                             
| | RSA                 | the Republic of South Africa                                                                                                                                                                                                                                                                                                                
| |                       |                                                                                                                                                                                                                                                                                                                                             
| | RVI                 | Rockwell Ventures Inc., a private company duly
      incorporated and registered under the laws of the Province of British
      Columbia, Canada                                                                                                                                                                                           
| |                       |                                                                                                                                                                                                                                                                                                                                             
| | RVI Pledge          | the pledge of the Shares and the Option Shares granted by
      the Borrower to the Lender in terms of 9.2.2 below, a draft of                                                                                                                                                                                                              



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Page 12

| |                       | which is annexed as Annexure A                                                                                           
| | --------------------- | ---------------------------------------------------------------------------------------------------------------------------
| |                       |                                                                                                                            
| | Sale Agreement      | the sale agreement concluded amongst the Borrower, the
      Sellers and VWDG, pursuant to which the Borrower will acquire:
| |                       |                                                                                                                            
| |                       | •                                                                                                                          
| |                       |                                                                                                                            
| |                       | •                                                                                                                          
| |                       |                                                                                                                            
| | Sale Date           | 30 June 2006                                                                                                               
| |                       |                                                                                                                            
| | SARB                | the exchange control department of the South African
      Reserve Bank                                                    
| |                       |                                                                                                                            
| | Second Payment Date | the first anniversary of the Closing Date                                                                                  
| |                       |                                                                                                                            
| | Second Tranche      | an amount of ZAR30 million                                                                                                 



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Page 13

| | Sellers                 | the Trustees in their personal capacity and as the
      trustees of:                                                                                                                                                             
| | ------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |                           |                                                                                                                                                                                                                                   
| |                           | •                                                                                                                                                                                                                                 
| |                           |                                                                                                                                                                                                                                   
| |                           | •                                                                                                                                                                                                                                 
| |                           |                                                                                                                                                                                                                                   
| |                           | •                                                                                                                                                                                                                                 
| |                           |                                                                                                                                                                                                                                   
| | Shares                  | collectively, 51% of the ordinary shares in the issued
      share capital of Klipdam and 49% of the ordinary shares in the issued
      share capital of HCWD to be acquired by the Borrower in terms of the Sale
      Agreement
| |                           |                                                                                                                                                                                                                                   
| | Shareholders Agreement | the shareholders agreement amongst the Borrower, the
      Trustees and VWDG in terms of which the Borrower is entitled to acquire
      the Option Shares subject to advancing the Durnpike Loan to HCWD                        
| |                           |                                                                                                                                                                                                                                   
| | Signature Date          | the date of last signature of this                                                                                                                                                                                                



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Page 14

| |                          | Agreement                                                                                                                                            
| | ------------------------ | -----------------------------------------------------------------------------------------------------------------------------------------------------
| |                          |                                                                                                                                                      
| | Tabacks Attorneys      | MervynTabackIncorporated,registration number
      2000/024541/21                                                                                    
| |                          |                                                                                                                                                      
| | Tabacks Trust Account  | the trust account of Tabacks Attorneys,details of which are:                                                                                         
| |                          |                                                                                                                                                      
| |                          | Accountholder:Mervyn
      Taback Inc                                                                                                                
| |                          | Bank:Nedbank                                                                                                                                         
| |                          | Branch:Business Central                                                                                                                              
| |                          | Branch code:128 405                                                                                                                                  
| |                          | Account no.:1284 029
      905                                                                                                                       
| |                          |                                                                                                                                                      
| | Transaction Agreements | the Sale Agreement, the ShareholdersAgreementand this Agreementcollectively                                                                         
| |                          |                                                                                                                                                      
| | Trust                  | H C Van Wyk Diamante Trust,IT126/2000, a business trust registeredby the
      Master of the High Court, dulyrepresented herein by
      the Trustees
| |                          |                                                                                                                                                      
| | Trustees               | H C van Wyk (snr), identity number420602 5046003, Hendrik Corneliusvan Wyk (jnr), identity number 7002145042 080 and Catharina Johanna Maria         



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Page 15

| |           | van Wyk, identity number 420608 0062 002, collectively                                                                    
| | --------- | --------------------------------------------------------------------------------------------------------------------------
| |           |                                                                                                                           
| | US$     | the legal currency of the United States of America                                                                        
| |           |                                                                                                                           
| | Vendors | Jeffrey Brenner, Robbie Blau, Larry Lipschitz, Mark
      Bristow, John Bristow, Les Johnston, Gawie Malan and Ira Epstein
| |           |                                                                                                                           
| | VWDG    | Klipdam and HCWD, collectively                                                                                            
| |           |                                                                                                                           
| | ZAR     | the legal currency of the RSA                                                                                             

|2.3 | If any provision in a definition is a substantive
      provision conferring rights or imposing obligations on any Party,
      notwithstanding that it is only in the definition clause, effect shall be
      given to it as if it were a substantive provision of this
  Agreement.                                                                                                                                                                                   
|--- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|2.4 | Any reference to an enactment is to that enactment as at
      the date of signature of this Agreement and, in the event that any right
      and/or obligation shall arise in terms of this Agreement in respect of
      and/or in connection with such enactment after the date of signature of
      this Agreement, such reference shall be to that enactment as amended
      and/or replaced as at the date for performance of such right and/or
      obligation.



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Page 16

|2.5 | Unless inconsistent with the context, an expression which
      denotes:
|--- | ------------------------------------------------------------------------

|2.5.1 | any gender includes the other genders;                              
|----- | --------------------------------------------------------------------
|      |                                                                     
|2.5.2 | a natural person includes an artificial person and vice
      versa;
|      |                                                                     
|2.5.3 | the singular includes the plural and vice
  versa.                  

|2.6 | Where any term is defined within the context of any
      particular clause in this Agreement, the term so defined, unless it is
      clear from the clause in question that the term so defined has limited
      application to the relevant clause, shall bear the meaning ascribed to it
      for all purposes in terms of this Agreement, notwithstanding that that
      term has not been defined in this interpretation clause.
|--- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                          
|2.7 | If any period is referred to in this Agreement by way of
      reference to a number of days, the days shall be reckoned, subject to 2.8
      below, exclusively of the first and inclusively of the last day unless the
      last day falls on a day which is not a Business Day, in which case the day
      shall be the next succeeding Business Day.                                                                              
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                          
|2.8 | If any period for which interest is to be calculated is
      referred to in this Agreement by way of a reference to a number of days,
      the days shall be reckoned inclusively of the first and exclusively of the
      last day.                                                                                                                                                                                                  
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                          
|2.9 | This Agreement shall be governed by, construed and
      interpreted in accordance with the law of the RSA.                                                                                                                                                                                                                                                                                                                              



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Page 17

|3. | RECORDAL
|-- | --------

|3.1 | The Borrower:
|--- | -------------

|3.1.1 | has pursuant to the provisions of the Sale Agreement
      purchased the Shares;   
|----- | -----------------------------------------------------------------------------------
|      |                                                                                    
|3.1.2 | will become obliged to pay the First Tranche for the
      Shares on the Sale Date;
|      |                                                                                    
|3.1.3 | will become obliged to pay the Second Tranche on the
      Second Payment Date;    
|      |                                                                                    
|3.1.4 | may be liable to deposit the Guarantee Amount on the
      Delivery Date;          
|      |                                                                                    
|3.1.5 | has pursuant to the provisions of the Shareholders
      Agreement:               

|3.1.5.1 | undertaken to advance the Durnpike Loan to HCWD;
    and                                                                        
|------- | --------------------------------------------------------------------------------------------------------------------------------
|        |                                                                                                                                 
|3.1.5.2 | acquired the right to purchase the Option Shares for the
      Option Consideration, subject to advancing the Durnpike Loan;
and
|        |                                                                                                                                 
|3.1.5.3 | will be liable to incur the
Costs,                                                                                              

(collectively, Payment Obligations).

|3.2 | To fulfil its Payment Obligations, the Borrower requires
      funding from the Lender.
|--- | ---------------------------------------------------------------------------------------



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Page 18

|3.3 | The Definitive Agreement which shall regulate the
      relationship between the Lender and the Borrower as to the Borrowers
      Payment Obligations will not have been finalised or taken effect as at the
      Sale Date.                                                                                                                                                                                              
|--- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                                                                                                                                                                                                                                                              
|3.4 | To enable the Borrower to timeously fulfil its Payment
      Obligations on the relevant Advance Date prior to the Definitive Agreement
      taking effect or if the Definitive Agreement does not take effect and
      become unconditional in accordance with its terms prior to the Final Date,
      the Lender has agreed to advance the Principal to the Borrower on the
      terms and conditions envisaged herein.

|4. | LOAN AND ADVANCE OF PRINCIPAL
|-- | -----------------------------

|4.1 | The Lender hereby lends the Principal to the Borrower,
      and the Borrower hereby borrows the Principal from the Lender on the terms
      and conditions set out herein.                 
|--- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                              
|4.2 | The Lender shall advance such portions of the Principal
      as the Borrower may require in respect of its Payment Obligations from
      time to time to the Borrower by making payment
to:

|4.2.1 | Engelsman Attorneys of the First Tranche; and                  
|----- | ---------------------------------------------------------------
|      |                                                                
|4.2.2 | Tabacks Attorneys of all other portions of the
      Principal,

on or before the relevant Advance
Date.



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Page 19

|4.3 | The Borrower shall use such portions of the Principal as
      set out below for such purposes and for no other
purpose:
|--- | ------------------------------------------------------------------------------------------------------------------------

|4.3.1 | to pay the First Tranche as part of the purchase
      consideration as defined in the Sale Agreement to the Sellers;                   
|----- | ----------------------------------------------------------------------------------------------------------------------------------------
|      |                                                                                                                                         
|4.3.2 | to pay the Second Tranche as part of the purchase
      consideration as defined in the Sale Agreement to the Sellers;                  
|      |                                                                                                                                         
|4.3.3 | to deposit the Guarantee Amount and procure the release
      of the Trustees and VWDG from their respective suretyship
    obligations;
|      |                                                                                                                                         
|4.3.4 | to advance the Durnpike Loan to HCWD in accordance with
      the provisions of the Shareholders Agreement;                            
|      |                                                                                                                                         
|4.3.5 | to pay the subscription price for the Option Shares on
      the basis envisaged in the Shareholders Agreement; and                    
|      |                                                                                                                                         
|4.3.6 | to pay the Costs.                                                                                                                       

|5. | ATTORNEYS INSTRUCTIONS
|-- | ----------------------

|5.1 | The Attorneys are hereby irrevocably instructed and
      authorised to treat such portions of the Principal under their respective
      control and the Interest accrued thereon as
follows:
|--- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|5.1.1 | in relation to the First Tranche, the amount of the First
      Tranche shall:
|----- | ------------------------------------------------------------------------------



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Page 20

|5.1.1.1 | be held in a Section 78(2A) account envisaged in the
      Attorneys Act on the basis as envisaged in the Sale Agreement;                                                                                                                                                                                                                                                                                                                                                                            
|------- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|5.1.1.2 | attract interest at such a rate as Engelsman Attorneys
      may procure thereon, it being recorded that the Interest accrued thereon
      shall be for the account of the Sellers, provided that the Sale Agreement
      takes effect in accordance with its terms, and if not, such Interest shall
      be deemed to have accrued in favour of the Lender;                                                                                                                                      
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|5.1.1.3 | be subject to the payment arrangements set out in the
      Sale Agreement, provided that the conditions precedent referred to therein
      have been fulfilled or waived, failing which the First Tranche plus the
      Interest shall be repaid to the Lender, within 7 Business Days of the date
      that the aforesaid agreement failed to take effect, by electronic transfer
      thereof to the Tabacks Trust Account upon receipt of the written
      instructions of both the Parties;

|5.1.2 | in relation to the balance of the Principal (being the
      Principal excluding the First Tranche) the amount thereof
  shall:
|----- | -------------------------------------------------------------------------------------------------------------------------------

|5.1.2.1 | be held in a Section 78(2A) account in terms of the
      Attorneys Act;
|------- | ------------------------------------------------------------------------



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Page 21

|5.1.2.2 | attract interest at such a rate as Tabacks Attorneys may
      procure thereon, it being recorded that the Interest accrued thereon shall
      be for the account of the Lender;
|------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|        |                                                                                                                                                                                  
|5.1.2.3 | be paid out by Tabacks Attorneys to the relevant third
      party (whether it is in respect of:                                                                                 

|5.1.2.3.1 | any shortfall of interest payable on the First Tranche by
      the Borrower to the Sellers in terms of the Sale Agreement on the Outside
      Date;
|--------- | -----------------------------------------------------------------------------------------------------------------------------------------------------
|          |                                                                                                                                                      
|5.1.2.3.2 | the Second Tranche;                                                                                                                                  
|          |                                                                                                                                                      
|5.1.2.3.3 | the Guarantee Amount payable to the Guarantor;                                                                                                       
|          |                                                                                                                                                      
|5.1.2.3.4 | the Costs;                                                                                                                                           
|          |                                                                                                                                                      
|5.1.2.3.5 | the Durnpike Loan; and                                                                                                                               
|          |                                                                                                                                                      
|5.1.2.3.6 | the Option Consideration,)                                                                                                                           

on receipt of the written instruction
of both Parties.

|5.2 | The Lender hereby indemnifies and holds the Attorneys
      harmless against all claims, costs, expenditure, loss and/or damage the
      Attorneys may suffer as a result of their obligations arising from the
      provisions of this Agreement, save in respect of gross negligence or
      wilful misconduct on the part of the relevant
Attorney.
|--- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



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Page 22

|5.3 | The Borrower hereby indemnifies and holds the Attorneys
      harmless against all claims, costs, expenditure, loss and/or damage the
      Attorneys may suffer as a result of any negligent act or omission or the
      wilful misconduct on the part of the Borrower.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|--- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|5.4 | It is specifically recorded that neither of the Attorneys
      shall be entitled or obliged to act on the written instructions of the
      Borrower and the Lender if such instructions are in conflict or if a
      dispute arises between the Parties, in which event the Attorneys are
      hereby instructed to retain such monies in their respective Trust Accounts
      until such time as the dispute between the Parties has been finally
      resolved in terms of the provisions of 14.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|5.5 | If any amount is not paid to the relevant third party in
      terms of the provisions of any of the Transaction Agreements as a result
      of the Lender delaying delivery or refusing delivery of the appropriate
      written instruction to the Attorneys as to such payment in terms of
      5.1.2.3, and provided that the Borrower remains liable in terms of the
      provisions of the relevant Transaction Agreement to make such payment to
      the third party, the Lender hereby indemnifies and holds the Borrower
      harmless from all claims, costs, loss, expense and/or damages it may incur
      arising from such delay or refusal, it being recorded that the amount
      standing to the credit of the relevant Trust Account shall serve as
      security for the Borrowers claim against the Lender so arising,
      irrespective of whether the Borrower is in breach of any of the aforesaid
      agreements. It is specifically further agreed that such dispute and/or
      claim shall be referred for resolution in terms of the provisions of 14
      below.



---

Page 23

|6. | REPAYMENT OF PRINCIPAL AND
      INTEREST
|-- | -----------------------------------------

|6.1 | The Borrower shall not be liable to pay any interest on
      the Principal nor to repay the Lender the Principal, as it is the
      intention of the Lender and the Borrower, that the Borrower is in effect
      expending the Principal and a portion of the Interest on account and on
      behalf of the Lender, the lending agreement recorded herein being an
      interim arrangement if the Definitive Agreement does not take
    effect.
|--- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|6.2 | If by the Final Date the Definitive Agreement has not
      taken effect and become unconditional in accordance with its
  terms:                                                                                                                                                                                                                                                                                                                      

|6.2.1 | and any or all amounts relating to the First Tranche and
      the Interest thereon remains in the Engelsman Trust Account or have been
      deposited into the Tabacks Trust Account, Engelsman Attorneys or Tabacks
      Attorneys, as the case may be, are hereby irrevocably instructed and
      authorised to repay the full amount thereof to the Lender by making
      transfer thereof to an account nominated by the Lender in writing;
    and
|----- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|      |                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|6.2.2 | to the extent that any portion of the Principal and the
      Interest accrued thereon arising from the amounts deposited into the
      Tabacks Trust Account, has not been expended, transferred or paid over to
      third parties in terms of any of the Transaction Agreements, Tabacks
      Attorneys are hereby irrevocably authorised and instructed to make payment
      of all such amounts (less Costs payable) standing to
the               



---

Page 24

credit of the Lender in the Tabacks
Trust Account to the Lender into an account to be nominated by the Lender in
writing.

|6.3 | No such payment to the Lender as envisaged in 6.2 shall
      be made if:
|--- | -------------------------------------------------------------------------

|6.3.1 | any dispute between the Borrower and the Lender shall not
      have been finally settled; or
|----- | ---------------------------------------------------------------------------------------------
|      |                                                                                              
|6.3.2 | the Consideration has not been paid to the
  Borrower                                        

as provided for herein in terms of 7.

|7. | UNDERTAKINGS IN RESPECT OF THE
      CONSIDERATION
|-- | --------------------------------------------------

|7.1 | RVI hereby undertakes in favour of the Vendors to make
      payment of the Consideration to them in terms of this Agreement, subject
      to the following conditions:
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|7.1.1 | the Sale Agreement and the Shareholders Agreement shall
      have taken effect in accordance with their respective terms;                                                                                                   
|----- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|      |                                                                                                                                                                                                                               
|7.1.2 | the Definitive Agreement shall not have taken effect and
      become unconditional in accordance with its terms by the Final Date;
      and                                                                                 
|      |                                                                                                                                                                                                                               
|7.1.3 | the Vendors shall not have disposed of any of their
      shares in and claims against the Borrower (Durnpike Interest) between
      the Signature Date and 30 September 2006 to any third party other than
      inter se.



---

Page 25

|7.2 | Settlement of the Consideration shall be due and payable
      on the date that the RVI Pledge is enforced and implemented in accordance
      with its terms, against such enforcement and implementation.                                                                                                                                                                                                                                                                                       
|--- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|7.3 | Each of the Vendors hereby undertakes in favour of RVI
      not to dispose of their respective Durnpike Interest to any third party
      other than inter sebetween the Signature Date and 30 September
      2006. The term dispose for purposes of this clause 7.3 shall have the
      widest meaning including, but not limited to, sell, alienate, cede,
      make-over, transfer, encumber, mortgage, charge, pledge, hypothecate or
      place under any lien of whatsoever nature.
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|7.4 | RVI and each of the Vendors hereby undertake in favour of
      the others of them to use their reasonable commercial endeavours, do all
      such things, take all such steps, and sign all such documents as may be
      necessary to procure the execution of the Definitive Agreement within 90
      days of the Signature Date.                                                                                                                                                           
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|7.5 | It is recorded that the Vendors are signing this
      Agreement, solely for the purpose of accepting the benefits conferred on
      them and agreeing to be bound by and fulfilling their obligations in terms
      of 7.3 and 7.4.                                                                                                                                                                                                                                                            

|8. | CONVERSION OF THE PRINCIPAL INTO A LOAN
      ACCOUNT
|-- | -----------------------------------------------------

|8.1 | If and as and when the Definitive Agreement takes effect,
      then the amounts which form part of the Principal and the Interest
      thereon, and which have
|--- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------



---

Page 26

|    | been paid out in accordance with the terms of the
      Transaction Agreements shall with effect from the relevant Advance Date
      constitute claims on loan account against the Borrower in favour of the
      Lender (RVI Shareholders Loan).
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                                                                                       
|8.2 | The RVI Shareholders Loan shall attract interest at the
      rate as prescribed by the SARB with effect from the relevant Advance
      Date.                                                                                                       

|9. | DEFINITIVE AGREEMENTS
|-- | ---------------------

|9.1 | If and when the Definitive Agreement takes effect and is
      implemented in accordance with its terms, on or before the Final Date,
      then this Agreement, to the extent that some or all of its provisions have
      not yet been implemented, shall lapse and be of no further force and
      effect and no Party shall have any claim against the other arising
      herefrom on whatsoever basis and howsoever arising, it being specifically
      recorded that the obligation of the Lender to make payment of any and all
      amounts due and owing under the Transaction Agreements into the Tabacks
      Trust Account will cease as such obligations will then constitute the
      obligation of the Borrower for which RVI, as the then sole shareholder of
      the Borrower, hereby agrees to act as co-principal debtor and
    surety.
|--- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|9.2 | If the Sale Agreement and the Shareholders Agreement
      have taken effect and been implemented in accordance with their respective
      terms, but the Definitive Agreement has not been entered into or taken
      effect and become                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         



---

Page 27

unconditional in accordance with its
terms for whatsoever reason by the Final Date, the Borrower hereby:

|9.2.1 | cedes all its right, title and interest in and to the
      Sale Agreement and the Shareholders Agreement to the Lender with
      retrospective effect from the date that those agreements took effect,
      substantially on the basis as if the Lender has entered into the aforesaid
      agreements for its own account with effect from the expiry of the Final
      Date and against settlement of the Consideration and subject to having
      obtained the appropriate consents in terms of the Shareholders Agreement;
      and
|----- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|9.2.2 | as security for its obligations hereunder pledges all its
      right, title and interest in and to the Shares (including the Reversionary
      Rights to such portion of the Shares previously pledged to the Trustees in
      terms of the Pledge) to the Lender substantially on the basis of the draft
      RVI pledge.                                                                                                                                                                                                                  

|10. | SURETYSHIPS
|--- | -----------

|10.1 | RVI hereby binds itself in favour of the Borrower as
      co-principal debtor and surety with the Lender for all the obligations of
      the Lender set out herein.
|---- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------
|     |                                                                                                                                                                      
|10.2 | RVI expressly waives and renounces the legal benefits and
      exceptions non numeratae pecuniae,excussion, non causa debiti,revision of accounts and               



---

Page 28

errore calculi,and it declares
itself to be fully acquainted with the meaning and effect of these exceptions
and the renounciation thereof.

|11. | GENERAL PROVISIONS
|--- | ------------------

|11.1 | Where the date for any payment in terms of this Agreement
      is not a Business Day, the date of such payment shall be the immediately
      preceding Business Day.                                                                                                                                                                                                                                                                                                                                                   
|---- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|11.2 | All payments made by the Lender to the Borrower directly
      or indirectly in terms hereof or the provisions of any of the Transaction
      Agreements shall be made free of exchange and bank commission and without
      deduction or set-off.                                                                                                                                                                                                                                                                     
|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|11.3 | A statement of account signed by any attorney of the
      Attorneys, showing the indebtedness of the Borrower to the Lender or the
      indebtedness of the Lender to the Borrower pursuant to the cession
      contemplated in 9, in terms of this Agreement, shall, in the absence of
      manifest error, be prima facieproof of the matters therein stated
      in any court of law for all purposes, including (without limitation) for
      the purposes of obtaining provisional sentence or any
  judgment.

|12. | DEFINITIVE AGREEMENT COSTS
|--- | --------------------------

Any costs incurred by the Borrower on
behalf of the Lender, the Borrower or RVI in contemplation of the conclusion of
the Definitive Agreement, may be recovered by the Borrower as Costs mutatis
mutandis on the basis envisaged herein.



---

Page 29

|13. | BREACH
|--- | ------

|13.1 | In the event of any of the Parties ("Defaulting Party")
      committing a breach of any of the terms of this Agreement and failing to
      remedy such breach within a period of 3 Business Days after receipt of a
      written notice from the other Party ("Aggrieved Party") calling upon the
      Defaulting Party so to remedy, then the Aggrieved Party shall be entitled,
      at its sole discretion and without prejudice to any of its other rights in
      law, either to claim specific performance of the terms of this Agreement
      or to cancel this Agreement forthwith and without further notice, claim
      and recover damages from the Defaulting Party, provided that the sole
      remedy of the Lender in the case of a breach by the Borrower, shall be
      enforcement of the RVI Pledge.
|---- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|13.2 | The sole remedy of the Lender in the case of a breach by
      the Vendors of 7.3, shall be that it will be released from the obligation
      to make payment of the Consideration to the
Vendors.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              

|14. | ARBITRATION
|--- | -----------

|14.1 | Any disputes arising from or in connection with this
      Agreement shall be finally resolved in accordance with the rules of the
      Arbitration Foundation of Southern Africa by a single arbitrator appointed
      by the Foundation.
|---- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|     |                                                                                                                                                                                                                                             
|14.2 | The provisions of this clause 14 shall not preclude any
      party (which shall include the Parties, RVI and the Vendors) from
      obtaining interim relief on                                                                           



---

Page 30

an urgent basis from a court of
competent jurisdiction pending the decision of the arbitrator.

|15. | NOTICES AND DOMICILIA
|--- | ---------------------

|15.1 | The Parties, RVI and the Vendors (collectively for
      purposes of this clause Parties) choose as their domicilia citandi et
      executanditheir respective addresses set out in this clause for all
      purposes arising out of or in connection with this Agreement at which
      addresses all processes and notices arising out of or in connection with
      this Agreement, its breach or termination may validly be served upon or
      delivered to the Parties.
|---- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|15.2 | For purposes of this Agreement the Parties' respective
      addresses shall be:                                                                                                                                                                                                                                                                                                                                                                                                   

| | the Lender:   | 4thFloor                                 
| | ------------- | -----------------------------------------
| |               | 138 West Street                          
| |               | Sandown                                  
| |               | Fax : (011) 884-1824                     
| |               |                                          
| | RVI:          | 1500 Royal Centre                        
| |               | 1055 West Georgia Street                 
| |               | Vancouver                                
| |               | British Columbia                         
| |               | V6E 4N7                                  
| |               |                                          
| | the Borrower: | 25 Rudd Road                             
| |               | Illovo                                   
| |               | Sandton                                  
| |               | Fax: (011) 286-0840                      
| |               |                                          
| | the Vendors:  | 25 Rudd Road                             
| |               | Illovo                                   
| |               | Sandton                                  
| |               | Fax: (011) 286-0840                      
| |               | Marked for the attention of : Gawie Malan



---

Page 31

|     | or at such other address in the RSA of which the Party
      concerned may notify the other of them in writing provided that no street
      address mentioned in this sub-clause shall be changed to a post office box
      or poste restante.
|---- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|     |                                                                                                                                                                                                                                                 
|15.3 | Any notice given in terms of this Agreement shall be in
      writing and shall:                                                                                                                                                                

|15.3.1 | if delivered by hand be deemed to have been duly received
      by the addressee on the date of delivery;                                          
|------ | ---------------------------------------------------------------------------------------------------------------------------------------------------
|       |                                                                                                                                                    
|15.3.2 | if posted by prepaid registered post be deemed to have
      been received by the addressee on the 8thday following the
      date of such posting;
|       |                                                                                                                                                    
|15.3.3 | if transmitted by facsimile be deemed to have been
      received by the addressee on the day following the date of
  dispatch,                    

unless the contrary is proved.

|15.4 | RVI hereby appoints the Lender as its process agent in
      the RSA to receive all notices and legal process at its address and hereby
      irrevocably submit consents to the jurisdiction of the South African
      courts.                                                                              
|---- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|     |                                                                                                                                                                                                                                                                                                               
|15.5 | Each of the Vendors hereby appoints the Borrower as its
      process agent to receive all notices and legal processes at the address of
      the Borrower and hereby irrevocably submits and consents to the
      jurisdiction of the Witwatersrand Local Division of the High Court of
      South Africa.



---

Page 32

|15.6 | Notwithstanding anything to the contrary contained or
      implied in this Agreement, a written notice or communication actually
      received by one of the Parties from another including by way of facsimile
      transmission shall be adequate written notice or communication to such
      Party.
|---- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|16. | VARIATION
|--- | ---------

No addition to or variation, consensual
cancellation or novation of this Agreement and no waiver of any right arising
from this Agreement or its breach or termination shall be of any force or effect
unless reduced to writing and signed by both Parties or their duly authorised
representatives.

|17. | RELAXATION
|--- | ----------

No latitude, extension of time or other
indulgence which may be given or allowed by any Party to the other of them in
respect of the performance of any obligation hereunder, and no delay or
forbearance in the enforcement of any right of any Party arising from this
Agreement, and no single or partial exercise of any right by any Party under
this Agreement, shall in any circumstances be construed to be an implied consent
or election by such Party or operate as a waiver or a novation of or otherwise
affect any of the Party's rights in terms of or arising from this Agreement or
estop or preclude any such Party from enforcing at any time and without notice,
strict and punctual compliance with each and every provision or term hereof.



---

Page 33

|18. | SEVERABILITY
|--- | ------------

If any clause or term of this Agreement
should be invalid, unenforceable or illegal, then the remaining terms and
provisions of this Agreement shall be deemed to be severable therefrom and shall
continue in full force and effect unless such invalidity, unenforceability or
illegality goes to the root of this Agreement.

|19. | WHOLE AGREEMENT
|--- | ---------------

This Agreement constitutes the whole
agreement between the Parties as to the subject matter hereof and no agreements,
representations or warranties between the Parties regarding the subject matter
hereof other than those set out herein are binding on the Parties.

|20. | COUNTERPARTS
|--- | ------------

This Agreement may be executed in any
number of counterparts and by the different Parties hereto on separate
counterparts, each of which when so executed and delivered shall be an original,
but all such counterparts together shall constitute one and the same instrument.



---

Page 34

THUS DONE and SIGNED at Vancouver on this the 30th day of June
  2006.

| | For and on behalf of             
| | ---------------------------------
| | ROCKWELL VENTURES INC.           
| |                                  
| | by */s/ "signed"*                
| |                                  
| | who warrants his authority hereto

THUS DONE and SIGNED at Kimberley on this the 30th day of June
  2006.

| | For and on behalf of             
| | ---------------------------------
| |                                  
| | ROCKWELL RESOURCES RSA           
| | (PROPRIETARY) LIMITED            
| |                                  
| |                                  
| | by */s/ "signed"*                
| |                                  
| |                                  
| | who warrants his authority hereto



---

Page 35

THUS DONE and SIGNED at Kimberley on this the 30th day of June
  2006.

| | For and on behalf of             
| | ---------------------------------
| |                                  
| | DURNPIKE INVESTMENTS             
| | (PROPRIETARY) LIMITED            
| |                                  
| |                                  
| | by */s/ "signed"*                
| |                                  
| |                                  
| | who warrants his authority hereto

THUS DONE and SIGNED at Illovo on this the 30th day of June 2006.

| | */s/ Jeffrey Brenner*
| | ---------------------
| | JEFFREY BRENNER      

THUS DONE and SIGNED at Illovo on this the 30th day of June 2006.

| | */s/ Robbie Blau*
| | -----------------
| | ROBBIE BLAU      



---

Page 36

THUS DONE and SIGNED at Illovo on this the 30th day of June 2006.

| | */s/ Larry Lipschitz*
| | ---------------------
| | LARRY LIPSCHITZ      

THUS DONE and SIGNED at Illovo on this the 30th day of June 2006.

| | */s/ Mark Bristow*
| | ------------------
| | MARK BRISTOW      

THUS DONE and SIGNED at Kimberley on this the 30th day of June
  2006.

| | */s/ John Bristow*
| | ------------------
| | JOHN BRISTOW      



---

Page 37

THUS DONE and SIGNED at Illovo on this the 30th day of June 2006.

| | */s/ Les Johnston*
| | ------------------
| | LES JOHNSTON      

THUS DONE and SIGNED at Illovo on this the 30th day of June 2006.

| | */s/ Gawie Malan*
| | -----------------
| | GAWIE MALAN      

THUS DONE and SIGNED at Illovo on this the 30th day of June 2006.

| | */s/ Ira Epstein*
| | -----------------
| | IRA EPSTEIN      



---

ANNEXURE A

PLEDGE OF SHARES

We, the undersigned,

DURNPIKE INVESTMENTS (PROPRIETARY) LIMITEDRegistration Number 1998/018109/07

have consented to provide security for the due and punctual
performance by us of all our obligations (the Obligations) in terms of the
loan agreement dated 29 June 2006 (Loan) between ourselves and Rockwell
Ventures Inc, a company duly incorporated and registered in the Province of
British Columbia (RVI), Rockwell Resources RSA (Proprietary) Limited,
registration number 2005/023297/07, a company incorporated and registered under
the laws of the Republic of South Africa (RVISA), being entered into
simultaneously with the signing hereof.

|1. | Accordingly we hereby cede, make over, transfer and
      deliver in pledge to RVISA:
|-- | -------------------------------------------------------------------------------------

|1.1 | 3 100 000 ordinary shares of R0,0005 each in the share
      capital of Klipdam and 290 ordinary shares of R1,00 each in the share
      capital of HCWD (collectively the A Shares) with effect from the date
      that the sale of shares agreement between ourselves, the trustees of the H
      C van Wyk Diamante Trust (IT126/2000), (Trustees), Klipdam Diamond
      Mining Company Limited (registration number 1994/001754/06 ) (Klipdam),
      H C van Wyk Diamonds (Proprietary) Limited (registration number
      2001/006812/07 ) (HCWD) and others (Sale Agreement) takes
    effect;
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|1.2 | 50 ordinary shares of R1,00 each in the share capital of
      HCWD (the B Shares), with effect from the date that we will acquire same
      pursuant to the                                                                                                                                                                                                                                                                                                                                                                                                                                                   



---

Page 2

|    | exercise of the option in terms of the Shareholders
      Agreement between ourselves and the Trustees (Shareholders Agreement);
      and                                                                                                                                                                                                                                                      
|--- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                                                                                                                                                                                                                                    
|1.3 | our reversionary rights, title and interest in and to 2
      000 000 ordinary shares of R0,0005 each in the share capital of Klipdam
      and 200 000 ordinary shares of R1,00 each in the share capital of HCWD
      (collectively the C Shares), with effect from the date that the C Shares
      are released from the pledge thereof to the Trustees in terms of the Sale
      Agreement

(collectively the Shares) to be beneficially owned by
ourselves pursuant to the implementation of the Sale Agreement and the
Shareholders Agreement with effect from the respective dates referred to above.

|2. | We shall as soon as possible deliver to Mervyn Taback Inc
      (registration number 2000/024541/21) (MTI), the legal advisors of
      RVISA,:
|-- | -------------------------------------------------------------------------------------------------------------------------------------------------

|2.1 | the share certificates in respect of the A Shares as well
      as share transfer forms duly signed by ourselves after closing as
      envisaged in the Sale Agreement;                                                                                                                                    
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                                                                                                                                             
|2.2 | the share certificates and the share transfer forms in
      respect of the C Shares as and when these are released from the earlier
      pledge to the Trustees, which is expected to be on or shortly after the
      first anniversary of the closing date as envisaged in the Sale Agreement;
      and
|    |                                                                                                                                                                                                                                                                                                             
|2.3 | the share certificates and the share transfer forms in
      respect of the B Shares as soon as we acquire same pursuant to the
      exercise of the option in terms of the Shareholders
  Agreement,                                                                                                     



---

Page 3

|   | which shall hold the aforesaid share certificates and
      share transfer forms in trust until such time as the Definitive Agreement
      has taken effect or 31 March 2007 (Final Date), whichever is the
      earlier.                                                                                                                                                                                                                                                                                                                  
|-- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|3. | If any of our Obligations, secured by this Pledge, are
      breached under the Loan to which this Pledge is annexed as Annexure A,
      if we fail to conclude a definitive agreement with RVI and/or RVISA and/or
      same not becoming unconditional and taking effect in accordance with its
      terms for whatsoever reason on or before the Final Date (or such later
      date as we and RVISA may agree to in writing), then RVISA shall be
      entitled and it is specifically and irrevocably authorised in rem
      suam:

|3.1 | to exercise in such manner as it deems fit, all our
      rights as shareholder of HCWD and/or Klipdam,
including:
|--- | ------------------------------------------------------------------------------------------------------------------

|3.1.1 | all voting rights attaching to the Shares;                                                                  
|----- | ------------------------------------------------------------------------------------------------------------
|      |                                                                                                             
|3.1.2 | the right to requisition any meeting of HCWD or Klipdam,
      as the case may be, for any purpose whatever;

|3.2 | to sell the Shares or any part thereof to such persons,
      in such manner and on such terms and conditions as it deems fit subject to
      RVISA obtaining the relevant court order, and such appropriate consent
      from the Trustees as contemplated in the Shareholders Agreement, in
      respect of such action;
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                                                                                                                                                               
|3.3 | for the purpose of any sale in terms of clause 3.2
    to:                                                                                                                                                                                                                                                                    

|3.3.1 | institute any legal proceedings which it may deem
      necessary;
|----- | ------------------------------------------------------------------



---

Page 4

|3.3.2 | give effective receipts for the discharge of the purchase
      price of the Shares so sold by it;
|----- | --------------------------------------------------------------------------------------------------

it being specifically agreed that all
amounts recovered in connection with any such sale or legal proceedings shall
constitute the damages suffered by RVISA entitling it to retain the full amount
of the proceeds of such sale;

|3.4 | to, subject to the appropriate court order and obtaining
      the appropriate consent from the Trustees as contemplated in the
      Shareholders Agreement, take transfer of and procure registration in its
      own name any or all of the Shares at the value at which we acquired such
      Shares on the basis as if RVI acquired the Shares in the first instance in
      our stead;
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                                                                                                                                                                                                                                 
|3.5 | generally to do everything which may be required by RVISA
      (including instructing MTI to deliver the share certificates and the share
      transfer forms to it on receipt of written notice from RVISA) and to sign
      any document which it considers necessary for the purpose of or to give
      effect to this Pledge.                                                           

|4. | In both cases referred to in clauses 3.2 and
  3.4:
|-- | ---------------------------------------------------

|4.1 | RVISA shall not have the right to recover any additional
      amount from us; and                                                                                                   
|--- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                      
|4.2 | RVISA shall be entitled to sign any transfer form or
      other document on our behalf and to do anything else which may be
      necessary to give effect to such sale or transfer.



---

Page 5

|5. | This Pledge shall lapse upon the Definitive Agreement
      taking effect and becoming unconditional in accordance with its terms, and
      thereupon we shall be entitled to the return of the Shares hereby pledged,
      subject to such alternative provisions contained in the Definitive
      Agreement and RVISA shall have no further claim against us for our
      obligations contemplated in the Loan.
|-- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                      
|6. | During the continuance of this Pledge, we shall not
      without RVISAs prior written consent:                                                                                                                                                                                                                                                                                                                     

|6.1 | sell or otherwise dispose of the Shares or any of
      them;                                                                                                                                                                                                                                                                                           
|--- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                                                                                                                                                                                         
|6.2 | permit any increase of the authorised and issued share
      capital of either HCWD or Klipdam (save as otherwise authorised by RVISA
      and/or as may be permitted in terms of the provisions of the Shareholders
      Agreement) or the variation of any of the rights attaching to the Shares
      as they are at the date of signature hereof;
|    |                                                                                                                                                                                                                                                                                                                                                         
|6.3 | permit HCWD or Klipdam to dispose of any of its assets or
      mortgage, pledge, hypothecate or in any other way encumber any of their
      respective assets or take on lease any movables, other than in the
      ordinary course of business and then only to the extent that same is
      within our control.                                   

|7. | It is specifically recorded that enforcement of this
      Pledge against us by RVISA, is subject to RVI making payment to the
      Membersof an amount of R34 000 000 on the basis mutatis mutandisas
      envisaged in 1(d) and 3(a)(ii) of the Heads of Agreement entered into
      between the Members and RVI on or about 26 June 2006. It is specifically
      recorded that if any Member breaches the provisions of clause 7.3 of the
      Agreement to which this Pledge is annexed, then the change
  in
|-- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



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Page 6

|   | membership will result in the release of RVI of making
      such payment to any of them.                                                                                                                                                                                                                                      
|-- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                
|8. | Any notice to be given to us in terms of this Pledge
      shall be presumed, until the contrary is proved, to have been received by
      us if delivered by hand at 161 Umkomas Road, Ashley Gardens, Pretoria,
      marked for the attention of John Bristow or Mark Bristow, 1 (one) day
      after the date of delivery.
|   |                                                                                                                                                                                                                                                                                                                                
|9. | We hereby indemnify and hold MTI harmless from any and
      all claims, cost, expense and/or damage arising from any act or omission
      in executing its obligations hereunder, save if such act or omission may
      be ascribed to gross negligence and/or wilful misconduct on its
    part.                           

SIGNED at Kimberley on 30 June 2006

| | For and on behalf of             
| | ---------------------------------
| |                                  
| | DURNPIKE INVESTMENTS             
| | (PROPRIETARY) LIMITED            
| |                                  
| |                                  
| | by */s/ "signed"*                
| |                                  
| |                                  
| | who warrants his authority hereto



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