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EXTENSION AGREEMENT

THIS AGREEMENT is dated for reference the 15th day of
February, 2010.

BETWEEN:

BAKO RESOURCES INC., a
British Columbia company having its registered office at Suite 950, 650 West
Georgia Street, Vancouver, British Columbia, Canada V6E 3P3

(hereinafter called the "Vendor")

OF THE FIRST PART

AND:

PENGRAM CORPORATION, a
Nevada corporation having its registered office at 8275 S. Eastern Avenue,
Suite 200, Las Vegas, NV 89123

(hereinafter called the
"Purchaser")

OF THE SECOND PART

WHEREAS:

A. The Vendor and the Purchaser entered into a Purchase
Agreement (the Purchase Agreement) dated December 16, 2008, pursuant to which
the Purchaser acquired a 100% interest the Property (as defined in the Purchase
Agreement) from the Vendor. In consideration of the Property, the Purchaser
issued to the Vendor 2,000,000 pre-split (6,000,000 post-split) shares of its
common stock and a promissory note in the amount of CDN $70,000 payable on June
30, 2009 (the Promissory Note).

B. On July 23, 2009, the Vendor and the Purchaser entered into
an extension agreement to extend the due date of the Promissory Note to December
31, 2009.

C. On January 21, 2010, the Vendor and the Purchaser entered
into an extension agreement to further extend the due date of the Promissory
Note to February 15, 2010.

D. The Vendor has agreed to further extend the due date of CDN
$65,000 of the Promissory Note to June 30, 2010 and in consideration the
Purchaser has agreed to issue 20,000 shares of its common stock to the
Vendor.

NOW, THEREFORE,in consideration of the covenants and
agreements contained herein and other good and valuable consideration, the
receipt and sufficiency are hereby acknowledged, the Vendor and the Purchaser
agree as follows:

|1. | Definitions.Except as otherwise set out herein,
      capitalized terms used in this Agreement shall have the same meaning as
      specified in the Purchase Agreement.                                     
|-- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                              
|2. | Extension of Promissory Note.The Purchaser agrees
      to pay CDN $5,000 of the Promissory Note and the Vendor agrees to extend
      the due date of the balance of the Promissory Note to June 30,
  2010.
|   |                                                                                                                                                                                                              
|3. | Consideration.In consideration of the extension,
      the Purchaser shall issue 20,000 shares of the Purchasers common stock to
      the Vendor.                                                          

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|4. | Vendor Representations and Warranties.The Vendor
      represents and warrants to the Purchaser that:                                                                                                                                                                                                                                                      
|-- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                            
|   | (a)                                                                                                                                                                                                                                                                                                                                                        
|   |                                                                                                                                                                                                                                                                                                                                                            
|   | (b)                                                                                                                                                                                                                                                                                                                                                        
|   |                                                                                                                                                                                                                                                                                                                                                            
|5. | No Other Modification. The parties confirm that
      the terms, covenants and conditions of the Purchase Agreement remain
      unchanged and in full force and effect, except as modified by this
      Agreement.                                                                                                                                       
|   |                                                                                                                                                                                                                                                                                                                                                            
|6. | Independent Legal Advice.This Agreement has been
      prepared by ONeill Law Group PLLC acting solely on behalf of the
      Purchaser and the Vendor acknowledges that it has been advised to obtain
      independent legal advice.                                                                                                                    
|   |                                                                                                                                                                                                                                                                                                                                                            
|7. | Successors and Assigns. Except as otherwise
      expressly provided herein, the provisions hereof shall inure to the
      benefit of, and be binding upon, the successors, assigns, heirs, executors
      and administrators of the parties hereto.                                                                                                     
|   |                                                                                                                                                                                                                                                                                                                                                            
|8. | Entire Agreement.This Agreement constitutes the
      full and entire understanding and agreement between the parties with
      regard to the subject hereof.                                                                                                                                                                                             
|   |                                                                                                                                                                                                                                                                                                                                                            
|9. | Counterparts.This Agreement may be executed in
      two or more counterparts, each of which shall constitute an original, but
      all of which, when taken together, shall constitute but one instrument,
      and shall become effective when one or more counterparts have been signed
      by each party hereto and delivered to the other
parties.

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

|BAKO RESOURCES INC.            | 
|------------------------------ | 
|by its authorized signatory:   | 
|                               | 
|                               | 
|/s/ Geoffrey N.
      Goodall  | 
|Geoffrey N. Goodall            | 
|                               | 
|                               | 
|PENGRAM CORPORATION            | 
|by its authorized signatory:   | 
|                               | 
|                               | 
|/s/ Richard W.
      Donaldson | 
|Richard W. Donaldson           | 

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