Document:

EXHIBIT 10.6
[DATAWIND LOGO]
                                                   555 Rene Levesque West, #1130
                                                                Montreal, Quebec
                                                                  Canada H2Z 1B1
                                                             Tel# 1.877.878.3282
                                                             Fax# 1.309.410.2887
                                                        http://www.datawind.com/

DECEMBER 21, 2005

VIA FACSIMILE
-------------

EdgeTech Inc.
2880 NW 2 Ave., Suite 2
Boca Raton, FL 33431

Attn: Lev Parnas

         SUBJECT:        BINDING LETTER AGREEMENT
                         ------------------------

Dear Mr. Parnas:

This Binding Letter Agreement ("Letter Agreement" or "Agreement") is made as of
this 21st day of December 2005, by and between DATAWIND Net Access Corporation
("DataWind") a Delaware corporation, and EdgeTech Inc. ("EdgeTech"), a Florida
corporation.

Whereas the parties have had a close working relationship in the marketing and
sales of PocketSurfer devices and services, and the parties wish to memorialize
their agreement for the current generation, next-generation (with improved
industrial design, embedded GPRS modem, backlit keyboard, offline organizer and
GPS functionality) and any subsequent generations of PocketSurfer ("PocketSurfer
II" or the "Products").

Now, therefore, for good and valuable consideration, the receipt and sufficiency
of which is acknowledged by each of the parties hereto, the parties agree as
follows:

     1.  PRODUCT MARKETING & DISTRIBUTION. DataWind will, during the term of
         this Agreement, sell to EdgeTech, and EdgeTech will purchase from
         DataWind, the Products to be redistributed world wide by EdgeTech
         exclusively to the vertical markets defined herein. EdgeTech shall
         devote its best reasonable commercial efforts for the adequate
         exploitation and distribution of the Products to these vertical markets
         and shall maintain an organization sufficient therefore. EdgeTech will
         aggressively market and sell the Products, for the limited purpose of
         demonstrating and selling to customers.

     2.  PRODUCT COSTS & MANUFACTURING MARGINS. Datawind shall limit its
         hardware margin on all Products to a maximum of 10% above the
         subcontracted cost of manufacturing the Products. In consideration of
         this reduced margin, EdgeTech shall provide DataWind with common shares
         equal to 10% of the issued and outstanding shares in EdgeTech as of the
         date first set forth above. EdgeTech can set the retail price and earn
         the appropriate margin. DataWind shall deliver the Products F.O.B. at
         the manufacturing facility and provide warranty support for Products
         delivered to DataWind's Montreal facility. Payment shall be via
         irrevocable, unconditional and transferable letter of credit in favor
         of DataWind from a nationally recognized U.S. bank, a minimum of 3
         months prior to scheduled delivery. EdgeTech may outsource other

     Montreal 1-514-871-094 - Toronto 1-905-712-0505 - Dallas 1-469-648-0148
             London, England 02079934286 - Mexico City 525553511847

<PAGE>
                                                   555 Rene Levesque West, #1130
                                                                Montreal, Quebec
                                                                  Canada H2Z 1B1
                                                             Tel# 1.877.878.3282
                                                             Fax# 1.309.410.2887
                                                        http://www.datawind.com/

         manufacturers if DataWind provides consent. The Products shall carry
         DataWind's standard limitation of liability and warranty conditions, as
         set or modified by DataWind from time to time.

     3.  SERVICE COSTS & MARGINS. EdgeTech shall set the retail price for the
         monthly service fee at U.S. $7.00 per month or more, on the Products it
         sells. DataWind shall provide credit-card billing to subscribers at the
         rate set by EdgeTech. DataWind shall charge $7.00 per subscriber per
         month, and pay the difference to EdgeTech on the fifth working day of
         each month for the previous month. In recognition of the special
         relationship between the parties, EdgeTech may reduce the monthly
         service fee to be paid to DataWind by EdgeTech to U.S. $6.00 by
         prepaying to DataWind a minimum of $250,000 of the aggregate service
         fee for such number of Products units as EdgeTech may desire on a
         monthly, bimonthly or yearly basis. DataWind may reasonably change the
         service fee each year to solely reflect increases due to inflation and
         base costs of hosting and bandwidth. The service pricing specifically
         is for DataWind's acceleration service, and not for GPRS wireless
         network costs. Wireless network costs, shall be as charged by the
         wireless carrier.

         BANNER REVENUE. To the extent EdgeTech may secure any banner revenues
         relating to the use of the Products, EdgeTech shall retain 50% of all
         such banner revenues and EdgeTech will pay DataWind 50% of all such
         banner revenues.

     4.  EXCLUSIVITY. Based on the terms and conditions defined herein, DataWind
         hereby grants EdgeTech exclusive right on a world wide basis to market
         and distribute the Products to the vertical markets defined as (i)
         Fantasy Sports and Sports Book; (ii) Online Poker; (iii) Music, Movie
         and Television; (iv) Adult Markets (adult rated content); (v) Financial
         Services Markets; This Exclusivity does not restrict DataWind from
         selling its products via infomercial, television or product placements
         in movies, other than to sell the applications of the vertical markets
         defined herein.

         a.    In recognition of the special relationship between the parties,
               DataWind shall waive the requirement for any simultaneous
               purchase of Products with the execution of this Agreement.
         b.    The parties agree that DataWind and Edetech have a unique working
               relationship, in consideration of which the performance criteria
               have been significantly reduced as would have been offered to
               other distribution partners. The annual performance criteria
               necessary to maintain these exclusive rights as to (i) through
               (iii) shall only be 3,000 new subscribers in each of such three
               exclusive vertical markets for the year ending December 31, 2006
               and each year ending thereafter, monitored on a semi-annual
               basis. The first performance monitoring period requiring 1,500
               new subscribers in each vertical shall be from the date of this
               Agreement to December 31, 2006, followed by each subsequent
               monitoring period on a semi-annual basis thereafter. If Edge Tech
               does not meet the annual performance criteria described above in
               any of the three designated vertical markets, EdgeTech's
               exclusive distribution rights shall automatically convert to
               non-exclusive, and if EdgeTech does not meet even 50% of the
               target in any monitoring period, distribution rights for the
               specific vertical would never the less still be non- exclusive
               until such time as Datawind may retain a third party on an
               exclusive basis to market and distribute the Products in the
               specific vertical market. At such time as when EdgeTech may
               obtain and maintain 15,000 subscribers on an annual basis in each
               of such three designated vertical markets, EdgeTech shall only be
               required to acquire an

     Montreal 1-514-871-094 - Toronto 1-905-712-0505 - Dallas 1-469-648-0148
             London, England 02079934286 - Mexico City 525553511847

<PAGE>
                                                   555 Rene Levesque West, #1130
                                                                Montreal, Quebec
                                                                  Canada H2Z 1B1
                                                             Tel# 1.877.878.3282
                                                             Fax# 1.309.410.2887
                                                        http://www.datawind.com/

               additional 1,500 subscribers in each of such three designated
               vertical markets on an annual basis in order to continue to
               maintain exclusivity in each of such three designated vertical
               markets. Countries outside of North America may be excluded from
               the exclusive and/or distribution territory of these three
               vertical markets by the terms and process set forth in clause 4
               (g).
         c.    As to vertical markets (iv) and (v), EdgeTech shall be required
               to pay an aggregate one time fee of $400,000 to DataWind payable
               as follows: $200,000 on March 8, 2006; $100,000 on July 10, 2006;
               and $100,000 on October 10, 2006. EdgeTech shall automatically
               and without any further notice lose its distribution rights to
               such two vertical markets if any of such payments are not timely
               made. No payments will be refunded if a subsequent payment is not
               made in a timely manner and the distribution rights have been
               cancelled. Commencing in year 2007 and thereafter, EdgeTech shall
               be required to pay DataWind a one time fee of $10 per Products
               unit purchased, manufactured or activated by EdgeTech in each of
               these two vertical markets. To maintain exclusivity in these two
               vertical markets, the minimum annual quantities of subscribers
               for year 2006 shall be 5,000 subscribers for the Adult Markets
               and 15,000 subscribers for the Financial Services Markets; for
               year 2007, an additional 10,000 subscribers for the Adult Markets
               and an additional 30,000 subscribers for the Financial Services
               Markets; for year 2008, an additional 10,000 subscribers for the
               Adult Markets and an additional 30,000 subscribers for the
               Financial Services Markets. Notwithstanding the foregoing, if at
               any time prior to the end of year 2008 EdgeTech has acquired
               25,000 subscribers for the Adult Markets and 75,000 subscribers
               for the Financial Services Markets, then, on an ongoing annual
               basis, the minimum additional annual quantity of subscribers for
               the Adult Markets shall be 5,000 and the minimum additional
               annual quantity of subscribers for the Financial Services Markets
               shall be 15,000. If any of the minimum annual quantities of
               subscribers described above are not met as to either of such two
               vertical markets, then EdgeTech shall have non-exclusive rights
               to continue to distribute the Products in either or both of such
               two vertical markets in which the minimum annual quantities of
               subscribers described above is/are not met. The distribution
               rights for these two vertical markets shall specifically exclude
               India, China, Germany, and England. Additional countries outside
               of North America may be excluded from the exclusive and/or
               distribution territory of these two vertical markets by the terms
               and process set forth in clause 4 (g).
         d.    DataWind agrees that during the period that EdgeTech maintains
               exclusivity, DataWind shall not seek, engage or appoint any other
               person or entity to market or distribute the Products to any of
               the defined vertical markets. DataWind will publicly endorse
               EdgeTech as its official and exclusive partner to promote each of
               these vertical markets.
         e.    Under the circumstance that DataWind does not exist, or is unable
               to continue to provide its wireless internet services, DataWind
               or the surviving party shall insure that such services are
               continued to be provided by an independent 3rd party hosting
               facility of its choice at the same terms and condition as set
               forth herein.
         f.    EdgeTech may ask Datawind for the additional features set forth
               in Exhibit 4.f attached hereto and made a part hereof at the
               minimum production volumes and costs detailed therein
         g.    DataWind may upon 10 day written notice, restrict specific
               countries outside of the U.S. and Canada, from any specific
               vertical in which EdgeTech does not have a minimum of 500 active
               subscribers in such specific country by the end of such 10 day
               time period, if DataWind is in the process of providing
               exclusivity to a local distributor in those specific markets. For
               example, if DataWind appoints a distributor in Germany, and
               provides such

     Montreal 1-514-871-094 - Toronto 1-905-712-0505 - Dallas 1-469-648-0148
             London, England 02079934286 - Mexico City 525553511847

<PAGE>
                                                   555 Rene Levesque West, #1130
                                                                Montreal, Quebec
                                                                  Canada H2Z 1B1
                                                             Tel# 1.877.878.3282
                                                             Fax# 1.309.410.2887
                                                        http://www.datawind.com/

               notice to EdgeTech, then EdgeTech's exclusive rights shall be
               reduced to all other countries, excluding Germany, if EdgeTech
               does not have a minimum of 500 subscribers in Germany by the end
               of such 10 day period. EdgeTech may not sell in any territory
               that has been removed from its exclusivity, and where DataWind
               has provided exclusivity for the territory to another party.

     5.  CUSTOMER SUPPORT; RELATED MATTERS. EdgeTech will provide at its cost a
         toll-free telephone line at DataWind's facilities, and all costs
         related to the toll-free telephone line will be borne by EdgeTech,
         payable in advance. DataWind shall provide EdgeTech branded service on
         such toll-free telephone line during normal business hours
         eastern-standard time. Any and all customers procured by EdgeTech in
         the vertical markets in which EdgeTech has exclusivity and any and all
         information relating to such customers shall constitute the sole and
         exclusive property of EdgeTech and shall not be used by DataWind
         directly or indirectly for any purpose whatsoever except to comply with
         its billing obligations hereunder. Any other customers on which
         EdgeTech requires exclusivity will have their names, contact
         information, period of exclusivity and performance criteria added to
         Attachment-1 on a regular basis with the consent of both parties.

     6.  COMMISSIONS. EdgeTech acknowledges that under certain circumstances,
         specific customers maybe unwilling or unable to purchase directly from
         EdgeTech and may instead purchase from DataWind. Under such
         circumstance, DataWind shall pay EdgeTech a commission of 5% of the net
         revenue derived by DataWind.

     7.  ASSIGNABILITY. EdgeTech, upon notice and prior written approval from
         DataWind may assign its rights and obligations under this Agreement to
         any entity affiliated or otherwise related to EdgeTech. DataWind will
         not unreasonably withhold approval. DataWind agrees to the pending
         share exchange between EdgeTech and a public trading company and any
         assignment of EdgeTech rights and obligations hereunder to such entity
         and or related party in connection therewith.

     8.  MISCELLANEOUS.

         (a)   Governing Law; Venue. This Letter Agreement shall be construed in
               accordance with and governed for all purposes solely by the laws
               and public policy applicable to contracts in the State of
               Delaware without regard to its rules governing conflicts or
               choice of law. The parties irrevocably agree (i) that any claim,
               action or proceeding instituted by either party in connection
               with or relating to this Letter Agreement shall be brought in the
               appropriate state and or federal court located in the State of
               Delaware, and (ii) to waive all objections and defenses to
               subject matter or in personal jurisdiction based on forum non
               convenes or other legal theory. The prevailing party in any
               action and/or proceeding shall be entitled to recover its
               reasonable attorney's fees and costs from the other party.

         (b)   Independent Contractors. In performing their respective duties
               and obligations hereunder, DataWind and EdgeTech shall be and act
               as independent contractors. Neither party, nor any of its
               employees, shall be in any sense partners, employees or agents of
               the other party, or have any authority to represent or bind the
               other party in any way. Unless specifically authorized herein,
               neither party shall have the right to make or enter into any
               contracts or agreements of any nature whatsoever on behalf of the
               other.

     Montreal 1-514-871-094 - Toronto 1-905-712-0505 - Dallas 1-469-648-0148
             London, England 02079934286 - Mexico City 525553511847

<PAGE>
                                                   555 Rene Levesque West, #1130
                                                                Montreal, Quebec
                                                                  Canada H2Z 1B1
                                                             Tel# 1.877.878.3282
                                                             Fax# 1.309.410.2887
                                                        http://www.datawind.com/

         (c)   Counterparts; Facsimile Execution. This Letter Agreement may be
               executed in one or more counterparts, each of which shall be
               deemed to be an original but together shall constitute only one
               instrument. The parties expressly agree that this Letter
               Agreement may be executed by the exchange of facsimile signatures
               and that such facsimile signatures shall have the same force and
               effect as original signatures for all purposes.

         (d)   Term. This Letter Agreement shall have a term of indefinite
               duration in five (5) year consecutive segments. As long as
               EdgeTech has maintained the minimum volume performance in Clause
               4, each five (5) year segment shall be extended upon written
               notification provided by EdgeTech to DataWind no less than one
               hundred twenty (120) days and no more than one hundred and eighty
               (180) days prior to the expiration of any given five (5) year
               segment, sent via overnight nationally recognized delivery
               service, to DataWind's last known address. Additionally, either
               party may terminate this Letter Agreement upon a material breach
               by the other party, that continues beyond a 30-day written
               notice.

         (e)   Maintenance of Books and Records; Right of Parties to Inspect and
               Audit Books and Records of Other Party. The parties shall
               maintain appropriate books and records, in accordance with GAAP,
               consistently applied and in conformity with past practices and
               applicable S.E.C. rules and regulations, relating to its
               activities in connection with this Agreement. Either party shall
               have the ability and right to inspect and audit the books and
               records of the other party concerning its performance under this
               Agreement. The inspecting party, or its duly appointed
               representative, will conduct the inspection only during the other
               party's normal business hours upon a written request submitted to
               the other party at least twenty (20) days prior to the day of the
               inspection or sixty (60) days if the other party is in the
               process of conducting its annual audit. The inspecting party
               shall be solely responsible for the costs of any such inspection
               or audit. No more than two such requests may be made on an annual
               basis.

         If you agree to the terms set forth above, please sign below to
indicate your acceptance.

                                        Best regards,

                                        /s/ Suneet Singh Tuli
                                        ----------------------------------
                                        Suneet Singh Tuli, President & CEO
                                        DATAWIND Net Access Corporation
                                        555 Rene Levesque West, Suite# 1130
                                        Montreal, PQ, Canada  H2Z 1B1
                                        Tel# 514-871-0984 / Fax# 309-410-2887

     Montreal 1-514-871-094 - Toronto 1-905-712-0505 - Dallas 1-469-648-0148
             London, England 02079934286 - Mexico City 525553511847

<PAGE>
                                                   555 Rene Levesque West, #1130
                                                                Montreal, Quebec
                                                                  Canada H2Z 1B1
                                                             Tel# 1.877.878.3282
                                                             Fax# 1.309.410.2887
                                                        http://www.datawind.com/

AGREED AND ACCEPTED:

EDGE TECH, INC.

By: /s/ Lev Parnas
    ---------------------
    Lev Parnas, President

     Montreal 1-514-871-094 - Toronto 1-905-712-0505 - Dallas 1-469-648-0148
             London, England 02079934286 - Mexico City 525553511847

<PAGE>
                                   EXHIBIT 4F

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------
FEATURES:                                           COSTS:            MINIMUM
                                                    U.S.$/UNIT        VOLUME PER
                                                                      ORDER:
-----------------------------------------------------------------------------------
<C>                                                 <C>               <C>
1.       Aesthetic Improvements:                    US$ 121.00/unit   3,500 Devices
----------------------------------------------------
      a. Backlit Keyboard
----------------------------------------------------
      b. Evening out the weight distribution
----------------------------------------------------
      c. Snap-open/Snap-close hinge, that will
         sit stable on a desktop
----------------------------------------------------
      d. Redesign the PocketSurfer casing for
         sleeker effect/attractive design
----------------------------------------------------
      e. Higher contrast & brightness to the
         screen
----------------------------------------------------
      f. Improved text input function
----------------------------------------------------
      g. Connectivity upgrades will be
         architectured such that upgrades can
         occur over-the-air
----------------------------------------------------
2.       PDA: Sufficient memory for an offline
         organizer & firmware with an offline
         organizer.
----------------------------------------------------
3.       GPS: Module for location based
         services.
----------------------------------------------------
4.       SD Card slot: to support external
         memory cards for caching and storage
         of web pages.
-----------------------------------------------------------------------------------
-----------------------------------------------------------------------------------
GPRS module (cost of module, power-circuitry,       $59.00            3,500
antenna, antenna-cable and circuitry)
-----------------------------------------------------------------------------------
WiFi SD Card                                        $25.00            3,500
-----------------------------------------------------------------------------------
Audio capability, to play MP3s. Apx. 120 days.      $20.00            5,000
-----------------------------------------------------------------------------------
Bluetooth Headset for MP3s. Apx. 120 days.          $25.00            7,000
-----------------------------------------------------------------------------------
Cellular voice functionality for Bluetooth Headset $17.00            7,000
(in addition to GPRS module). Apx. 180 days.
-----------------------------------------------------------------------------------
Video capability, to play MPEG movies. Apx. 180     $85.00            10,000
days
-----------------------------------------------------------------------------------
</TABLE>Untitled Page

		
			

				

				

				

				

				Exhibit 10.1

					

					

				

		

		
			GEOLOGIC BUREAU OF QINGHAI PROVINCIAL NUCLEAR INDUSTRY

					

					

					

					

				And

				

				

				

				

				QINGHAI MINERALS INC.

				

				

				

				

				

				

				

				

				

				EXPLORATION LICENSE TRANSFER CONTRACT

				

				

			
			

			

			

			

			

			

			

			April 20, 2006

		

		

		

		

		

		

		

		

		

		

		

		

		
			

			

			

			

			

		
		
			CONTENTS

		

		Clause                                                                                                                   Page

			

			

			1.     TRANSFER OF EXPLORATION LICENSE.................................................... 4

			
2.     ASSISTANCE................................................................................................... 4

			
3.     PURCHASE PRICE.......................................................................................... 4

			
4.     RIGHTS AND OBLIGATIONS OF THE PARTIES......................................... 5

			

			5.     REPRESENTATIONS AND WARRANTIES................................................... 6

			

			6.     CONFIDENTIALITY........................................................................................ 8

			

			7.     EFFECTIVENESS............................................................................................. 8

			

			8.     BREACH............................................................................................................ 8

			

			9.     ARGUMENT AND ARBITRATION................................................................. 8

			

			10.     MISCELLANEOUS......................................................................................... 9

			

			

			

			

			

			

			

			

			

			

			

			

			

			

			

			

			

			

			

			

			

		

		

		

		

		

		

		
			EXPLORATION LICENSE TRANSFER CONTRACT
					

				

		

		
			THIS EXPLORATION LICENSE TRANSFER CONTRACT (hereinafter referred to as “this Contract”) is executed on this April 20, 2006.

				

				
				BETWEEN

		

		(1)        GEOLOGIC BUREAU OF QINGHAI PROVINCIAL NUCLEAR INDUSTRY

			             (hereinafter referred to as the “Party A”); and

			

			(2)        Qinghai Minerals Inc. (hereinafter referred to as “Party B”), a Wholly Owned

			             Foreign Enterprise to be formed by Magnus International Resources, Inc., in the People’s

			             Republic of China, sometime shortly following execution of this contract.

		WHEREAS

			

			(1)   Party A owns an exploration license in Manzhanggang gold mining area of Xinghai County, Qinghai Province, certificate No. 6300000530106, with an area of 33.36 Km2, inflexion coordinate No. 1, No. 2, No.3and No.4 and a valid period from May 26, 2005 to April 30, 2007 (hereinafter referred to as “Exploration License”, attached herewith as Annex 1);

			

			(2)   Party A could obtain an exploration right with an area of about 50.04 Km2 by Exploration License alternation (hereinafter referred to as “New Exploration License”) and agrees to transfer the said New Exploration License to Party B under the terms and conditions of this Contract. (The final area and inflexion coordinate of the New Exploration License shall be defined by the approval from the Qinghai Department of Land and Resource.)

			

			(3)   When Party B obtains the New Exploration License and after a certain period of working time the evidence showing that the outside area of the New Exploration License may contain minerals, Party A shall agree to assist Party B in applying for an exploration right covering the outside area of the New Exploration License with an area of about 44.48 Km2 (hereinafter referred to as the “Additional Exploration License”).

		

		

		

		

		

		

		

		

		

		

		

		

		

		

		NOW THEREFORE, the Parties hereby agree as follows:

		

		1.        APPLICATION AND TRANSFER OF NEW EXPLORATION LICENCE
		1.1      Immediately following the execution of this Contract, Party A shall prepare the required documents for the exploration right with an area of about 50.04 Km2 by Exploration License alternation and submit to the relevant administration authority to obtain the New Exploration License with an area of about 50.04 Km2 from the relevant administration authority. Party A shall then apply for the transfer of the New Exploration License to Party B and ensure that the New Eexploration License is transferred to Party B within 180 days upon the delivery by Party B of the documents regarding the transfer which need to be prepared by Party B.

			

			1.2       The Term of the New Exploration License issued by the relevant administration authority which confirms Party B’s ownership of the exploration right shall be no less than 2 years.

			

			2.         ASSISTANCE

		2.1      When Party B desires to expand the New Exploration License after working on the area covered thereof, Party A shall be responsible to assist Party B in applying for the Additional Exploration License free of charge.

			

			2.2 When requested by Party B, Party A by charging a certain amount of fees shall render the relevant assistance to Party B in respect of Party B’s operation and assist Party B in acquiring all preferential treatment from and harmonizing the relationship with local, provincial and state government where possible (hereinafter collectively referred to as the “Assistance”), immediately following execution of this contract. The fees charged by Party A with respect to the Assistance shall be otherwise agreed upon by Party B and Party A.

			

			3.         PURCHASE PRICE

					

				In consideration for the transfer by Party A of the New Exploration License, Party B shall pay to Party A the sum of RMB 3,200,000 Yuan (RMB three million and two hundred thousand) in accordance with the schedules hereunder (hereinafter referred to as the “Purchase Price”).

		

		

		

		

		

		

		

		

		

		(a) Party B shall pay RMB 400,000 within 10 days upon the execution of this Contract.

		

		(b) Party B shall pay RMB 2,800,000 to Party A upon the completion of the transfer of the New Exploration License to Party B, and within 10 days upon the issuance of the New Exploration License by the relevant administration authority to Party B which confirms Party B’s ownership of the related exploration rights.

		

		The Purchase Price shall be remitted by electronic funds transfer to the bank account specified below:

		

		      Name of Bank:        Xinning office of the Construction Bank

		

		      Address of Bank:      Xinning Road, Xining City, Qinghai Province

		

		      Name of Account Holder: Geologic Bureau of Qinghai Provincial Nuclear Industry

		

		      Account Number:

		

		(c) In the event that the New Exploration License is not issued by the relevant administration authority to Party A, this Contract shall be terminated and the transfer of the Exploration License shall be otherwise agreed upon by Party A and Party B. Party A shall refund RMB 400,000 to Party B.

		

		4.         RIGHTS AND OBLIGATIONS OF THE PARTIES

				

			4.1       Rights and obligations of Party A:

		

		4.1.1    After the Contract has been signed, Party A shall immediately prepare the required documents to apply for the New Exploration License and its transfer.

		

		4.1.2    Party A shall bear all costs relating to the application and transfer of the New Exploration License. Party A shall provide Party B with true copies of all documents submitted to the Chinese government authorities in relation to such application and transfer.

		

		4.1.3    Party A shall be responsible for all liabilities and debts in respect of the Exploration License and/or the New Exploration License or its related work which accrued on or prior to the transfer of the New Exploration License to Party B, 

		

		

		

		

		

		

		

		

		

		including but not limited to environmental pollutions, land and forest rentals, related taxes, and management and construction fees.

		

		4.2       Rights and obligations of Party B:

		

		4.2.1    Party B has the obligation to maintain confidentiality of all business secrets of Party A obtained through this transfer of exploration rights. Party B is not to disclose any information or conditions concerning the exploration rights to any third party, except as otherwise required by laws and regulations or government authorities.

		

		4.2.2     Party B shall fully pay the Purchase Price in due course.

		

		5.         REPRESENTATIONS AND WARRANTIES

				

			5.1       The two Parties in this Contract declare, undertake and guarantee to each other that:

		

		5.1.1    They have the authority to sign this Contract and that they have the ability to fully perform all the obligations contained in the Contract.

		

		5.1.2    They are capable of taking all necessary actions to facilitate the transfer of the New Exploration License in this Contract.

		

		5.2       Party A hereby represents, warrants and undertakes to Party B that:

		

		5.2.1    Party A lawfully owns the Exploration License free and clear of any mortgage, pledge, or other encumbrance of any nature.

		

		5.2.2    Party A enjoys exclusive exploration rights for the minerals within the term and area indicated in the New Exploration License. The New Exploration License is in good standing under the laws of China and has been validly and legally acquired.

		

		5.2.3    Party A shall transfer the Exploration License and the previous mineral data to Party B in accordance with the provisions of this Contract.

		

		

		

		

		

		

		

		

		5.2.4    Party A has not received notice of nor has any knowledge of any proposal to terminate or vary the terms of or rights attaching to the Exploration License from any government or regulatory authority.

		

		5.2.5    All work and activities of whatsoever nature carried out under the Exploration License by Party A or by third parties have been carried out in compliance with all applicable laws and regulations, including environmental laws and regulations.

		

		5.2.6 No government department, military unit, organization, company, collective or any other entity or individual has any legal right over any of the Exploration License or the relevant mineral data except only for Party A.

		

		5.2.7    All necessary annual examinations, reports, payments and minimum exploration expenditures have been made and all other requirements to maintain the Exploration License have been fulfilled by Party A.

		

		5.2.8    The information provided by Party A to Party B are the last exploration report and corresponding drawings within the area covered by the New Exploration License. Party A shall not be responsible for the further exploration result;

		

		5.3       Party B represents, warrants and undertakes to Party A that:

		

		5.3.1    After signing this Contract, Party B will positively assist Party A in transferring the New Exploration License and its relevant mineral data.

		

		5.3.2    After obtaining a new exploration license which confirms its ownership of the exploration right and the relevant mineral data, Party B will carry on the geology investigation action in accordance with Chinese relative law, regulation and rule requirements.

		

		6.         CONFIDENTIALITY
		The Parties agree to keep secret of commercial information on transferring the New Exploration License and other information exchanged by them in connection with business relationship and co-operation between the Parties (hereinafter referred to as the “Confidential Information”). Each Party shall not release any Confidential Information to any third party without the prior written consent of the other Party.

		

		

		

		

		

		

		

		

		

		7.         EFFECTIVENESS

			

		This Contract shall come into effect on the date it is signed and sealed by the Parties and shall continue in force for the full Term, unless earlier terminated in accordance with the terms of this Contract.

		

		8.         BREACH

			

		Failure by either of the Parties to perform any of its obligations fully and timely under this Contract shall constitute a breach of contract.  Should any Party breach the terms of this Contract, it shall compensate the other Party for any and all damages suffered by the non-breaching Party, and shall continue to be bound to perform this Contract.

		

		9.         ARGUMENT AND ARBITRATION

				

			9.1       In the event any dispute arises in connection with the interpretation or implementation of this Contract, the Parties shall attempt in the first instance to resolve such dispute through friendly consultations.  If the dispute is not resolved in this manner within sixty (60) days after the date on which one Party has served written notice on the other Parties for the commencement of consultations, then either Party may refer the dispute to arbitration.

		

		9.2        Any dispute, controversy or claim, if unable to be resolved amicably, shall be settled by arbitration in Beijing administered by the China International Economic and Trade Arbitration Commission in accordance with its rules in effect at the time of arbitration.

		

		9.3       The arbitration award shall be final and binding on the Parties, and the Parties agree to be bound thereby and to act accordingly.

		

		9.4       When any dispute occurs and when any dispute is under arbitration, except for the matters under dispute, the Parties shall continue to exercise and perform their remaining respective rights, and fulfil their remaining respective obligations under this Contract.

		9.5       The costs of the arbitration shall be borne by the losing Party.

			

			10.        MISCELLANEOUS

					

				10.1      Any amendment of this Contract shall come into force only when a written agreement is signed by Party A and Party B.

			

			

			

			

		

		

		

		

		

		

		10.2      A Party’s failure to exercise any right, power or interest under this Contract shall not operate as a waiver of it, and any single or partial exercise of any right, power or interest shall not preclude exercise of any other right, power or interest.

		

		10.3      This Contract shall be written in both Chinese and English. The Chinese version shall be in six (6) originals and the English version shall be in two (2) originals.  Each Party shall keep one (1) original in each language.  Others shall be submitted to the approval authority for registration of the New Exploration License transfer as required. Both language versions shall be equally authentic. 

		

		

		

		

		

		

		

		

		

		

		

		

		

		

		

		

		

		

		

		

		

		

		

		

		

		

		

		

		

		

		

		

		

		

		

		

		

		IN WITNESS WHEREOF, the representatives of Party A and Party B have executed this Contract on the date first written above.

		

		

		GEOLOGIC BUREAU OF QINGHAI PROVINCIAL NUCLEAR INDUSTRY

			

		By:                  (Stamp of Geologic Bureau of Qinghai Provincial Nuclear Industry)

		Name:             

		Title:                 Authorized Representative

		Nationality:      

		

		

		Qinghai Minerals Inc.

			

		By:                  /s/ Anthony Tam

		Name:              Anthony Tam

		Title:                 Authorized representative for Magnus International Resources Inc.

		Nationality:       Chinese

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