Document:

EXHIBIT
4.26

    

    MINERAL
RIGHT PURCHASE

     AND
SELLING AGREEMENT

     

     

    MARIA
TEREZA BARBOSA DA SILVA, Brazilian national, separated, holder of
Brazilian ID card 3617073-2 – SSP-GO and CPF 110.808.762-00, resident at Rua
Barão do Rio Branco, 699 – Bloco 15A, Ap. 301 – Conj. São Judas Tadeu II, Bairro
Flores, Manaus, State of Amazonas, Zip Code 69.058-581, hereinafter referred to
as MARIA
TEREZA and BRAZAURO
RECURSOS MINERAIS LTDA, a limited liability company, registered before
the Ministry of Finance under CNPJ 05.943.917/0001-43, with headquarters at Av.
Gov. José Malcher, 815, salas 413 e 414, Belém, Pará, Zip Code 66.055-901,
hereinafter represented by its director, who undersigns this Agreement, and
referred to as BRAZAURO:

     

     

    I      WHEREAS

     

    
      	
               
      

            	
              A)

            	
              MARIA
      TEREZA is the legitimate holder of the EXPLORATION
      REQUEST
      part of DNPM
      process 850.442/2008,
      located in the municipality of Itaituba, State of Pará. The above
      mentioned process is being assessed by DNPM’s 5th
      District in Belém-PA for publication of the corresponding Exploration
      License, whose process will remain object of this contract, and will be
      hereinafter referred to as MINERAL
      RIGHT;

            

    

     

    
      	
               
      

            	
              B)

            	
              BRAZAURO
      is a mining company whose main objectives are to explore, exploit and
      manage mineral deposits for the economic use of their mineral assets and
      by-products, and who is interested in acquiring the MINERAL
      RIGHT;

            

    

     

    
      	
               
      

            	
              C)

            	
              The MINERAL
      RIGHT is free and clear of all liens, charges or limitations of
      ownership whatsoever;

            

    

     

    
      	
               
      

            	
              D)

            	
              MARIA
      TEREZA is interested in the cession and transfer of the MINERAL
      RIGHT to BRAZAURO;

            

    

     

    
      	
               
      

            	
              E)

            	
              BRAZAURO
      is interested in undertaking a mineral reserves assessment and exploration
      program in the area covered by such MINERAL
      RIGHT.

            

    

     

    
      	
               
      

            	
              F)

            	
              BRAZAURO
      may develop mineral exploration activities at its own discretion and
      exclusivity during the term of this contract, and may assess, explore and
      undertake economic feasibility studies of any mineral reserves to be found
      in the area covered by the MINERAL
      RIGHT.

            

    

     

    The Parties have
agreed to the following terms and conditions:

     

    1.
FIRST CLAUSE - OBJECT

     

    1.1 The object of this agreement is
the establishment of rules and conditions for the acquisition of the mineral
right referred to in paragraph A) of this agreement by BRAZAURO.

     

    2.
SECOND CLAUSE - PRICE AND PAYMENT CONDITIONS

     

    2.1 For the
acquisition of the above mentioned
MINERAL RIGHT, BRAZAURO
shall pay to MARIA
TEREZA the total amount of R$700,000.00
(seven hundred thousand Brazilian reais) as follows:

     

    2.1.1 R$20,000.00
(twenty thousand Brazilian reais) on signing of this
agreement.

     

    2.1.2 R$15,000.00
(fifteen thousand Brazilian reais) within five working days from the
publication in the Brazilian Official Gazette (Diario
Oficial da União - DOU) of the exploration license related to the process

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    object of this
agreement, and upon signature of an AGREEMENT
FOR MINERAL RIGHT ASSIGNMENT to BRAZAURO.

     

    In case the
publication referred to above is made before completion of the six-month period
from the date of signature of this agreement, the payment of the second
installment shall be made six months after the payment of the first installment
referred to in paragraph 2.1.1. above.

     

    2.1.3 R$25,000.00
(twenty five thousand Brazilian reais) within six months after the
payment referred to in paragraph 2.1.2 has been made.

     

    2.1.4 R$30.000.00
(thirty thousand Brazilian reais) within twelve months after the payment
referred to in paragraph 2.1.2 has been made.

     

    2.1.5 R$40,000.00
(forty thousand Brazilian reais) within eighteen months after the payment
referred to in paragraph 2.1.2 has been made.

     

    2.1.6 R$50,000.00
(fifty thousand Brazilian reais) within twenty four months after the
payment referred to in paragraph 2.1.2 has been made.

     

    2.1.7 R$520,000.00
(five hundred and twenty thousand Brazilian reais) within thirty months
after the payment referred to in paragraph 2.1.2 has been made, provided that
DNPM has approved  the MINERAL
RIGHT assignment to BRAZAURO.

     

    2.2. In case of
termination of this agreement, the amounts payable will not be collected and no
payments made will be reimbursed.

     

    2.3 The payments
referred to in Clause 2 above will be made by BRAZAURO
at the current
account number 0540531-9, branch
number 412 which MARIA
TEREZA holds at the Bradesco Bank in Rio Grande, State of Rio Grande do
Sul, and deposit slips will be considered payment receipts.

     

    2.3.1 Any
alteration to the above mentioned bank information shall be made in writing by
MARIA
TEREZA to BRAZAURO,
and BRAZAURO
will not be deemed accountable for any delay or misplacement of payment
resulting from the failure to inform such change.

     

    2.3.2 Should the
due date for any payment fall on a non-working day, then it will be due on the
first working day following the original due date.

     

    THIRD
CLAUSE – DECLARATIONS AND WARRANTIES OF MARIA TEREZA

     

    3.1
MARIA TEREZA hereby declares and warrants that she is the only and
exclusive holder of the MINERAL
RIGHT object of this agreement and that such MINERAL
RIGHT is free and clear of any liens, charges or liabilities whatsoever,
and that they are equally free of any irregularity.

     

    3.2
MARIA TEREZA hereby declares and warrants on her behalf and on behalf of
her successors that she will provide whatever assistance required for the formal
transfer of the MINERAL
RIGHT object of this agreement, as well as for the granting of the
corresponding Mineral Exploration Licenses by DNPM.

     

    3.3 MARIA
TEREZA declares and warrants that she will keep confidential all
information received as a result of this agreement, which will become classified
and belonging to BRAZAURO
upon signing of this agreement, and that she will not disclose information in
part or in total to third parties.

     

    3.4 MARIA
TEREZA declares and warrants that she will be responsible for all
obligations and liabilities of any nature, which were originated prior to the
date of signature of this agreement, including those related to non-compliance
with the mineral and environmental legislation.

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    3.5 By
the date of payment of the last installment herein agreed to,
MARIA TEREZA shall hand over to BRAZAURO
the areas object of this agreement, the MINERAL
RIGHT free of any small-scale prospecting mining activities, and of third
parties who are not bound by this agreement.

     

    FOURTH
CLAUSE – DECLARATIONS AND WARRANTIES OF BOTH
PARTIES

     

    4.1.
BRAZAURO and
MARIA TEREZA hereby declare and warrant that this Agreement is signed in
an irrevocably and irretractable manner for all legal purposes, and that they
will comply with whatever clauses and conditions herein established, including
those related to their successors, except for the provisions regarding
termination.

     

    4.2 BRAZAURO
and MARIA
TEREZA hereby declare and warrant that this Agreement and its annexes
result from a thorough understanding between the parties.

     

    4.3 BRAZAURO
and MARIA
TEREZA hereby declare and warrant that they attribute binding power over
their conduct to the terms of this Agreement in accordance with the provisions
of Article 585, Sub-heading II and the provisions of article 639 both of the
Brazilian Civil Procedure Code.

     

    4.4 BRAZAURO
and MARIA
TEREZA hereby declare and warrant that whenever required they shall take
action, provide information and additional documentation, formalize any
agreement required to the sound implementation and undertaking of the terms and
conditions set forth in this Agreement.

     

    FIFTH
CLAUSE – DECLARATIONS AND WARRANTIES OF BRAZAURO

     

    5.1 BRAZAURO
hereby declares and warrants that it will be responsible for the payment of any
liabilities corresponding to the Exploration Licenses until a decision is made
regarding the acquisition of this MINERAL
RIGHT.

     

    5.2 The
responsibility of BRAZAURO
shall be null and void should it formally desist from the acquisition of the
MINERAL
RIGHT object of this Agreement in compliance with the provisions of
Clause 2.2 above.

     

    5.3 BRAZAURO
commits itself to pay the annual fees per hectare corresponding to the last year
of validity of the MINERAL
RIGHT object of this agreement, and in the years to come in case of
extension of the Exploration License, as long as this agreement is not
terminated per the terms and conditions set forth in Clause Tenth
below.

     

    SIXTH
CLAUSE – DURATION

     

    6.1 This agreement
is valid from the date of signature until all conditions herein agreed upon have
been fulfilled or until BRAZAURO
terminates this Agreement.

     

    SEVENTH
CLAUSE – CONFIDENTIALITY

     

    7.1 Unless
otherwise required by law, the parties commit themselves to keep strictly
confidential the terms and conditions of this agreement, and to not disclose
information in any way for whatever objective other than the objective herein
stated. Nevertheless, BRAZAURO
may, if deemed necessary and at its own discretion, disclose the results of the
exploration work in the Toronto-Canada Stock Exchange and in its
website.

     

    7.2 The parties
hereby bind themselves and their employees, representatives, and service
providers to strict observance of said confidentiality and of any geological,
economic or business related information that may be disclosed to
them.

     

    EIGHTH
CLAUSE – ASSIGNMENT OF CONTRACT TO THIRD PARTIES

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    8.1 BRAZAURO
may transfer at its sole discretion, at any time, in part or in total, the
rights and obligations set forth in this agreement to third parties, provided
that MARIA
TEREZA receives prior notice of such transfer.

     

    NINTH
CLAUSE – COMMUNICATION

     

    9.1 All notices,
communication, or documents which shall be exchanged between the Parties must be
in written form and delivered personally or by letter (AR receipt) at the
addresses informed below. The Parties are responsible for informing any change
in their addresses:

     

    MARIA TEREZA
BARBOSA DA SILVA

    Address: Av. Barão
do Rio Branco, 699 – Bloco 15a Ap. 301

    Conj. São Judas
Tadeu II, Bairro Flores

    69.058-581 - Manaus
– AM

     

    BRAZAURO RESOURCES
DO BRASIL LTDA.

    Address: Av. Gov.
José Malcher, 815, salas 413 e 414

    66,055-901 - Belém
- PA

     

    TENTH
CLAUSE – TERMINATION

     

    10.1 BRAZAURO
detains the exclusive right to unilaterally terminate this Agreement at its own
discretion provided written notice is given to MARIA
TEREZA.

     

    10.2 The Parties
herein agree that upon termination of this Agreement, BRAZAURO
will no longer be liable to pay any installment that have not fallen due
provided that MARIA
TEREZA or her legal successors are notified by BRAZAURO
(personally or by letter) at least thirty days before the due date of the next
installment. BRAZAURO
shall be freed from the obligation to pay any form of compensation to MARIA
TEREZA, and shall have no right to the reimbursement of installments duly
paid prior to the termination of this Agreement.

     

    10.3 Should BRAZAURO
make use of its right to terminate this Agreement in accordance with the
provisions herein established, BRAZAURO
must hand over to MARIA
TEREZA all data and results from the exploration work associated with the
MINERAL
RIGHT within ninety days from the date of termination.

     

    10.4 Should BRAZAURO
decide to terminate this Agreement, BRAZAURO
shall be legally bound to transfer the MINERAL
RIGHT object of this contract back to MARIA
TEREZA by signing a new Agreement for the Mineral Right Transfer on the
date of termination.

     

    10.5 MARIA
TEREZA will not have the right to terminate this contract except in the
case of defaulting on payment by BRAZAURO,
which declares itself to be incapable of solving.

     

    ELEVENTH
CLAUSE – CONCURRENCE OF THE DNPM

     

    11.1 It is hereby
agreed and understood between the Parties that for the fulfillment of the terms
set forth in this Agreement, and the respective payment of the final installment
established in Clause 2 above, namely R$520,000.00
(five hundred and twenty thousand Brazilian reais), final legal approval
must have been formally granted for the definitive concession of the MINERAL
RIGHT to BRAZAURO,
and said approval must have been published in the Official Gazette (DOU). The
Parties further agree that:

     

    11.1.1 Both Parties
commit themselves to making every effort before the DNPM to ensure the regular
administration and approval of the process for the concession of the MINERAL
RIGHT object of this Agreement.

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    11.1.2 The Parties
further commit themselves to make due efforts before the DNPM to ensure that the
definitive concession of the MINERAL
RIGHT is approved in such a way to become effectively transferred to
BRAZAURO.

     

    TWELVETH
CLAUSE – PARTIAL INVALIDITY

     

    12.1 The eventual
nullity, invalidity or unfeasibility of any or more provisions set out in this
Agreement shall not affect the validity and enforceability of the other terms,
which shall remain in force. The Parties hereby declare their willingness to
negotiate consensual adjustments to ensure the validity and feasibility of such
terms or provisions.

     

    THIRTEENTH
CLAUSE – ACTS OF GOD OR FORCE MAJEURE

     

    13.1 Should BRAZAURO
or its contractors be prevented from getting access to the areas to which the
MINERAL
RIGHT are associated due to acts of God or force majeure,
then the fulfillment of the obligations taken under the terms of this Agreement
shall be suspended.

     

    FOURTHEENTH
CLAUSE – COURTS

     

    14.1 The Parties
agree to designate the Courts of Itaituba, State of Pará, for the purpose of
deciding any issue resulting from this Agreement. In witness whereof the
authorized representatives of the parties hereto have signed three copies of
this Agreement as of the date below.

     

     

    Manaus - AM, August
31, 2009

     

     

     

    MARIA
TEREZA BARBOSA DA SILVA BRAZAURO
RECURSOS MINERAIS LTDA.

     

     

     

     

     

     

     

    Witnesses:

     

    Gilmara da Silva
Sousa                                                               Emerson
Cordeiro de Araújo

    Address: Rua Barão
do Rio Branco, 699       Address: Rua Teófilo
Condurú

    Identity Card #
4681937                                                    Identity
Card # 5015547

    CPF:
004.440.111-61                                                               CPF:
823.445.312-20EXHIBIT 4.27

 

 

 

 

 

August 31, 2009.

 

TALON METALS CORPORATION

Avenida Jornalista Ricardo Marinho n° 360 salas 111, 112 e 113

Barra da Tijuca - Rio de Janeiro - RJ - Brazil

CEP 22631-350

 

 

 

	
Re: 

	
ÁGUA BRANCA GOLD PROJECT

 

This non-binding letter of intent (LOI) serves to outline the terms and conditions upon which Brazauro Resources Corporation or its subsidiary (Brazauro), is prepared to enter into a definitive agreement with Talon Metals Corporation or its subsidiary (Talon) granting to Brazauro the exclusive option to purchase Talon’s Água Branca mineral property (the Property or Água Branca):

 

Brazauro will have a period of 30 days to conduct due diligence on the Property and if completed to the satisfaction of Brazauro, Brazauro is prepared to sign a definitive option agreement according the following:

 

	
  

	
1)

	
Pay to Talon, upon agreement’s signing, an amount of US$ 120,000.

 

	
  

	
2)

	
Brazauro will be commited to spend in exploration at Água Branca, a minimum of US$ 500,000 including at least 2,000 metres of core drilling, in the first year and, if Brazauro wishes to extend the option to the second year, to spend a minimum of additional US$ 500,000 during the second year.

 

	
  

	
3)

	
To maintain the option in good standing, Brazauro will pay to Talon US$ 130,000 on or before December 31, 2010.  If Brazauro abandons the option and returns the Property to Talon before this date and the minimum budget of the first year has not been expended, Brazauro is obligated to pay the US$ 130,000.

 

	
  

	
4)

	
To complete the exercise of the option, Brazauro will pay to Talon, two (2) years after the agreement’s signing, an amount of US$ 1,870,000.

 

	
  

	
5)

	
The definitive agreement will provide that Brazauro will pay to Talon a NSR royalty of 2%, with Brazauro being able to buyout the NSR royalty for a payment of US$ 2 million.

 

  

  

  

 

	
  

	
6)

	
During the term of the option, Brazauro will also:

 

	
  

	
a.

	
Assume the payments due under the underlying agreement with the original owner of the mineral rights;

	
  

	
b.

	
Assume the payment of any taxes due to the DNPM;

	
  

	
c.

	
Assume the costs of the rental of the office/house in Água Branca village;

	
  

	
d.

	
Assume the rental of the use of the land at Camãro Hill;

	
  

	
e.

	
Conduct its operations in a good and miner-like manner;

	
  

	
f.

	
Indemnify Talon for any liability arising from Brazauro’s operations on the Property.

 

The definitive agreement will contain terms and conditions customary for agreements of this nature including, but not limited to, those relating to representations and warranties and indemnities and must be satisfactory to both Talon and Brazauro.

 

We look forward to your response to the foregoing so that we can arrange the due dilligence and the preparation of a definitive agreement.

 

Please confirm your agreement with the foregoing by signing a copy of this letter and returning it to us by fax or email.

 

Yours truly,

 

 

/s/ Elton L.S. Pereira

 

Elton L.S. Pereira

V.P. Exploration

Brazauro Resources Corp.

elspereira@terra.com.br

Fax:  55 (91) 3212.7345

 

 

 

Agreed and accepted, this 1 day of September, 2009

 

Talon Metals Corporation

Per:

 

 

	 / Signature /

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