Document:

EXHIBIT 10.4

                       ARRANGEMENTS AND RELEASE AGREEMENT

      This Arrangements and Release Agreement (the "Agreement"), by and between
Key Gold Corporation, a Nevada corporation formerly known as DDI International
Inc. (the "Company"), and Dr. Brooke Mitchell, an individual ("Dr. Mitchell"),
is made and entered into as of this 17th day of May, 2004 (the "Effective
Date").

                               W I T N E S S E T H

     WHEREAS, Dr. Mitchell previously lent the Company the sum of $3,000.00,
pursuant  to a Loan  Agreement  and  Promissory  Note dated  March 15, 2004 (the
"Promissory  Note"), the full principal amount of which and all accrued interest
thereon is outstanding as of the Effective Date;

      WHEREAS, in conjunction with the transactions contemplated by this
Agreement, Dr. Mitchell is willing to forgive all of the Company's obligations
under the Promissory Note;

      WHEREAS, pursuant to an Option Agreement dated March 29, 2002, as modified
by an Amending Agreement and Promissory Note dated March 25, 2004 (collectively,
the "Option Agreement"), immediately preceding the Effective Date, the Company's
sole asset (the "Dental Asset") was its interest in certain assets acquired
under the Option Agreement, including the domain name "dr-dental-info.com";

      WHEREAS, as of the Effective Date, the Company had not exercised the
Option Agreement, has not acquired a 100% undivided interest in the Dental Asset
from Dr. Mitchell, and has not paid the full amount of the purchase price
therefor;

      WHEREAS, the Company desires to cancel its contractual right to acquire
the Dental Asset;

      WHEREAS, immediately prior to the execution of this Agreement, Dr.
Mitchell resigned as the Company's President, Chief Executive Officer, and sole
director, and, as his last official act, named John Anderson to replace him in
such capacities;

      WHEREAS, in connection with the transactions contemplated by, or
referenced in, this Agreement, Dr. Mitchell is willing to tender 5,875,000
(pre-split) shares of the Company's common stock owned of record and
beneficially by him (the "Shares") to the Company for cancellation;

      WHEREAS, each of the Company and Dr. Mitchell desires to enter into a
mutual general release with the other;

      WHEREAS, each of the Company and Dr. Mitchell now wish to terminate all of
the relationships that had been created by the Promissory Note, the Option
Agreement, and Dr. Mitchell's service as a director and executive officer of the
Company and as a holder of the Shares, including all rights, obligations, and
responsibilities thereunder, and to release each other in respect thereof and in
respect of any and all remedies that any party may have against any other party
as a result thereof, with the sole exception of any rights or duties created by
this Agreement and any actions that could have been brought against Dr. Mitchell
for which the Nevada Revised Statutes would not have permitted the Company to
have indemnified him;

      NOW, THEREFORE, in consideration of the premises and the mutual covenants
and agreements herein contained, the parties hereto do hereby agree as follows:

                                     - 1 -
<PAGE>

                                    ARTICLE 1

          TERMINATION OF THE PARTIES' RESPECTIVE OBLIGATIONS UNDER THE
           PROMISSORY NOTE AND THE OPTION AGREEMENT; CANCELLATION OF
                THE SHARES; TENDER OF CERTAIN CASH CONSIDERATION

      1.1   Forgiveness of the Company's Obligations Under the Promissory Note.
As of the Effective Date, Dr. Mitchell forgives the Company of all of its duties
and obligations to Dr. Mitchell thereunder and shall deem the Promissory Note to
have been "paid in full."

      1.2   Cancellation of the Company's Rights Under the Option Agreement. As
of the Effective Date, the Company cancels any and all of its rights in and to
the Dental Asset and absolves Dr. Mitchell from any duties and obligations in
favor of the Company thereunder.

      1.3   Return of Intellectual Property. As soon as practicable following
the Effective Date, the Company shall cause (i) all copies of all non-public
materials pertaining to the Dental Asset heretofore provided to the Company, its
employees, or agents by Dr. Mitchell or his agents to be returned to Dr.
Mitchell, (ii) all computer files pertaining to the Dental Asset maintained by
Company employee or agent to be deleted, and (iii) the declaration of the
Company's Chief Executive Officer certifying the Company's compliance with the
foregoing to be delivered to Dr. Mitchell.

      1.4   Cancellation of the Shares. As of the Effective Date, Dr. Mitchell
tenders to the Company any and all of his right, title, and interest in and to
the Shares, constituting 5,875,000 (pre-split) shares of common stock of the
Company, in respect of which Shares Dr. Mitchell represents and warrants to the
Company that he is the sole record and beneficial owner thereof. As of the
Effective Date, the Company cancels each and every Share, such that none of the
Shares shall be then issued and outstanding and all of the Shares shall be
returned to the authorized and unissued capital of the Company.

      1.5   Tender of Certain Cash Consideration. As of the Effective Date, in
connection with the transactions contemplated by this Agreement and not as
specific consideration for any of such transactions, the Company tenders to Dr.
Mitchell the sum of $49,000.00 in good funds.

                                   ARTICLE 2

                 MUTUAL GENERAL RELEASE AND COVENANT NOT TO SUE

      2.1   Mutual General Releases. Effective upon the Effective Date, and
except as otherwise expressly provided for in this Agreement, Dr. Mitchell, on
the one hand, and the Company, on the other hand (each, collectively, a
"Releasing Party"), on behalf of himself or itself and their respective
affiliates, partners, officers, directors, shareholders, members, agents,
representatives, and family members, and each of their respective heirs,
executors, administrators, successors and assigns (collectively, their
"Affiliates"), hereby irrevocably and unconditionally release and forever
discharge each other and each of their respective Affiliates from any and all
past, present or future liabilities, claims, demands, debts, obligations,
damages, actions (including attorneys' fees associated therewith), judgments,
causes of action or suits of any kind or nature whatsoever, whether known or
unknown, suspected or unsuspected, choate or inchoate (collectively, "Claims")
which such party may now own, hold or suspect, have at any time heretofore
owned, held or suspected, or may at any time hereafter own or hold with respect
to, or in connection with, any and all of the arrangements, financial and
otherwise, contemplated by the Promissory Note, the Option Agreement, and Dr.
Mitchell's service as a director and executive officer of the Company and as a
holder of the Shares, including all rights, obligations, and responsibilities
thereunder; provided, however, that this Section 2.1 is not intended to release
any Claim (i) arising from a breach of any covenant, representation or warranty
in this Agreement, (ii) that could have been brought against Dr. Mitchell for
which the Nevada Revised Statutes would not have permitted the Company to have
indemnified him, or (iii) to the extent that such release would violate
applicable law.

                                     - 2 -
<PAGE>

            (a)   Each releasing Party represents and warrants to each other
that such Releasing Party has not heretofore transferred or assigned in whole or
in part, or purported to have transferred or assigned in whole or in part, to
any person or entity, any Claims, or interest therein, which are the subject of
the release in this Article 2 and that such Releasing Party will not do so on or
after the date of this Agreement.

            (b)   Each Releasing Party acknowledges and agrees that nothing in
this Agreement shall be construed to be, or shall be admissible in any
proceeding as evidence of, an admission by such Releasing Party hereto of a
violation of any federal, state or local statute, ordinance or regulation or any
violation of such Releasing Party's policies or procedures or of any duty
allegedly owed by such Releasing Party to the other Releasing Party. This
Agreement may be introduced, however, in any proceeding to enforce this
Agreement.

      2.2   Waiver of Unknown Claims. It is the intention of each Releasing
Party that the releases set forth in Section 2.1 of this Agreement shall be
effective as a bar to all liabilities, claims, demands, obligations, damages,
actions, causes of action, or suits of any kind or nature whatsoever, whether
known or unknown, suspected or unsuspected, other than the claims expressly
excepted from the scope of Section 2.1 of this Agreement. In furtherance of this
intention, each Releasing Party expressly acknowledges that such Releasing Party
is familiar with Section 1542 of the California Civil Code, which provides as
follows:

      A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT
      KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING THE
      RELEASE, WHICH IF KNOWN BY HIM MUST HAVE MATERIALLY AFFECTED HIS
      SETTLEMENT WITH THE DEBTOR.

Notwithstanding the fact that this Agreement is to be interpreted under Nevada
law, to the extent that (i) California law is applied to this Agreement or (ii)
Nevada law contemplates or provides an equivalent provision, each Releasing
Party expressly waives and relinquishes any and all rights and benefits that
such Releasing Party may have under Section 1542 of the California Civil Code or
any analogous provision under Nevada law. Notwithstanding, and in furtherance of
the spirit of such waiver, each Releasing Party also acknowledges that such
Releasing Party may hereafter discover facts in addition to or different from
those which such Releasing Party now knows or believes to be true with respect
to the subject matter of this Agreement, or that such Releasing Party may
hereafter come to have a different understanding of the law that may apply to
potential claims that such Releasing Party is releasing hereunder; however, such
Releasing Party affirms that, except as is expressly provided in this Section
2.2 of this Agreement, it is such Releasing Party's intention fully, finally,
and forever to settle and release any and all Claims whatsoever, known or
unknown, suspected or unsuspected, that do now exist, may hereafter exist, or
heretofore have existed between such Releasing Party and the other Releasing
Party released herein. In furtherance of this intention, each Releasing Party
acknowledges that the releases as set forth and limited in Section 2.1 of this
Agreement shall be and remain in effect as full and complete general releases
notwithstanding the discovery or existence of any such additional facts or
different understandings of law.

                                     - 3 -
<PAGE>

      2.3   Covenant Not to Sue. Each Releasing Party hereby represents to the
other Releasing Party that it has not commenced or filed, and covenants that it
will not commence or file with any local, state, or federal agency, court, or
arbitrator any complaints, charges, claims, lawsuits or grievances, or actions
of any kind, whether civil, criminal or administrative, against the other
Releasing Party with respect to any Claim released pursuant to Section 2.1 of
this Agreement.

                                    ARTICLE 3

                                  MISCELLANEOUS

      3.1   Notices. Any notices or other communications required or permitted
hereunder shall be sufficiently given if written and delivered in person or sent
by registered mail, postage prepaid, addressed as follows:

            to Dr. Mitchell:           Dr. Brooke Mitchell
                                       5232 Malaspina Place
                                       North Vancouver, British Columbia
                                       V7R 4M1 Canada

            to the Company:            Key Gold Corporation
                                       33174 Bergen Mountain Rd.
                                       Evergreen, Colorado 80439
                                       Attention: Chief Executive Officer

or such other address as shall be furnished in writing by the appropriate
person, and any such notice or communication shall be deemed to have been given
as of the date so mailed.

      3.2   Time of the Essence. Time shall be of the essence of this Agreement.

      3.3   Costs. The parties will each bear the costs and expenses incurred by
them in connection with this Agreement and the transactions contemplated hereby.

      3.4   Entire Agreement and Amendment. This Agreement contains the entire
agreement among the parties hereto with respect to the transactions contemplated
by this Agreement and supersedes all other agreements, written or oral, with
respect thereto. This Agreement may be amended or modified in whole or in part,
and any rights hereunder may be waived, only by an agreement in writing, duly
and validly executed in the same manner as this Agreement or by the party
against whom the waiver would be asserted. The waiver of any right hereunder
shall be effective only with respect to the matter specifically waived and shall
not act as a continuing waiver unless it so states by its terms.

      3.5   Counterparts. This Agreement may be executed in one or more
counterparts each of which shall be deemed to constitute an original and shall
become effective when one or more counterparts have been signed by each party
hereto and delivered to the other party.

      3.6   Governing Law. This Agreement shall be governed by, and construed
and interpreted in accordance with, the laws of the State of Nevada, without
giving effect to the choice of law provisions thereof.

      3.7   Attorneys' Fees and Costs. In the event any party to this Agreement
shall be required to initiate legal proceedings to enforce performance of any
term or condition of this Agreement, including, but not limited to, the payment
of monies or the enjoining of any action prohibited hereunder, the prevailing

                                     - 4 -
<PAGE>

party shall be entitled to recover such sums, in addition to any other damages
or compensation received, as will reimburse the prevailing party for reasonable
attorneys' fees and court costs incurred on account thereof (including, without
limitation, the costs of any appeal) notwithstanding the nature of the claim or
cause of action asserted by the prevailing party.

      3.8   Successors and Assigns. This Agreement shall inure to the benefit of
and be binding upon the parties hereto and its and his respective heirs,
executors, personal representatives, successors, and assigns, as the case may
be.

      3.9   Captions. The captions appearing in this Agreement are inserted for
convenience of reference only and shall not affect the interpretation of this
Agreement.

      IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
the day and year first above written.

<TABLE>
<CAPTION>
                                                              KEY GOLD CORPORATION

<S>                                                           <C>
                                                              By:
-----------------------------------------------------                  --------------------------------------------
                  DR. BROOKE MITCHELL                                  John Anderson
                                                                       Chief Executive Officer
</TABLE>

                                     - 5 -EXHIBIT 10.5

                                LETTER AGREEMENT

THIS  LETTER  AGREEMENT  (the  "AGREEMENT")  is entered  into on the 21st day of
April,  2004  between  Fengcheng  Gold  Corporation,   Liaoning  (an  enterprise
incorporated in [FORIEGN LANGUAGE  CHARACTERS  OMITTED] Liaoning  province,  the
People's Republic of China) whose place of business is No. 65, [FORIEGN LANGUAGE
CHARACTERS OMITTED],  Liaoning province,  the People's Republic of China ("PARTY
A") and JHP Resources  Limited (a corporation  incorporated in British Columbia,
Canada), whose place of business is #168-2633 Viking Way, Richmond,  B.C. Canada
V6V 1N3 ("PARTY B").

WHEREAS  after  friendly  negotiations  between Party A and Party B, the parties
wish to set out in this  Agreement  their  agreement  in  principle  to set up a
Sino-foreign  equity joint  venture  company (the "JOINT  VENTURE") (to be named
[FORIEGN  LANGUAGE  CHARACTERS  OMITTED]  and  to be  incorporated  in  [FORIEGN
LANGUAGE CHARACTERS  OMITTED] Liaoning Province,  the People's Republic of China
for the purposes of, among others,  exploring  precious metals and other mineral
and land  resources  within an agreed  region in  [FORIEGN  LANGUAGE  CHARACTERS
OMITTED] district in Liaoning province (as shown in the red line diagram annexed
hereto) in the People's Republic of China.

NOW  THEREFORE,  the parties  hereto hereby  execute this Agreement to set forth
certain  agreements with regard to the exploration of land resources  within the
agreed region by the Joint Venture as more fully set forth below:

JOINT VENTURE

1.    ESTABLISHMENT AND CAPITAL:  The Joint Venture will be established [FORIEGN
      LANGUAGE CHARACTERS OMITTED], in Liaoning province,  THE People's Republic
      of China as a  sino-foreign  equity  joint  venture  company  with limited
      liability.  The Joint  Venture  will be entitled to all the  benefits  and
      incentives  policies as a sino-foreign  equity joint venture enterprise as
      prescribed  under laws and regulations of the PRC. The registered  capital
      of the Joint Venture shall be US$300,000  (to be contributed by Party A in
      an amount of  US$63,000  as the valued  consideration  of the  exploration
      rights,  and by Party B in an amount of  US$237,000 in cash) and the Joint
      Venture will be funded by a total  investment of  US$1,200,000  by Party B
      ("TOTAL  INVESTMENT").  After Party B has invested the Total Investment of
      US$1,200,000,  Party B shall  hold  79% of the  shares  in the  registered
      capital  of the Joint  Venture,  otherwise,  Party B shall hold a pro rata
      amount of its shares  based on the ratio of its actual  investment  to the
      Total Investment.

                                                                               1
<PAGE>

      The investments shall be invested in stages as referred to below.

INVESTMENT IN THE JOINT VENTURE

2.    APPROVALS: Party A will apply and obtain (1) all approval,  registrations,
      permits,    licences,    certificates   and   letters   of   authorization
      (collectively, the "CONSENTS") from all relevant government and regulatory
      authorities for the establishment and operation of the Joint Venture for a
      period  of  25  years;   (2)  all   Consents  for  the   performance   and
      implementation of this Agreement;  and (3) all Consents in connection with
      the business and activities of the Joint Venture, being the exploration of
      precious and  non-precious  metals and other mineral  resources within the
      region  as shown in the red line  diagram  annexed  hereto (  collectively
      "FORMAL  APPROVALS").  Party A shall be  responsible  to do all such acts,
      make such  applications  and to prepare all such  documents  to secure and
      obtain the Formal Approvals, including without limitation, the feasibility
      study of establishing  the Joint Venture and the  environmental  study for
      the exploration of mineral resources in the agreed region.

3.    EXPLORATION CONCESSIONS AND RIGHTS: Party A will be responsible, on behalf
      of the Joint Venture, for the purchase or otherwise the transfer,  obtain,
      issue or authority of legal and valid exploration permits, concessions and
      rights in the district ("EXPLORATION CONCESSIONS").

4.    FIRST STAGE:

4.1   Party  A  shall  obtain  such  Exploration  Concessions  required  for the
      business of the Joint Venture as contribution  to the Joint Venture.  Such
      contribution represents 21% of the shares in the registered capital of the
      Joint Venture held by Party A.

4.2   Party B agrees  to bear  pre-operating  expenses  on  behalf  of the Joint
      Venture   prior  to  the   establishment   of  the  Joint   Venture   (the
      "PRE-OPERATING EXPENSES").

                                                                               2
<PAGE>

4.3   A People's  Republic of China legal  opinion shall be delivered to Party B
      confirming  that  Party  A has  obtained  the  Formal  Approvals  and  the
      performance  of  paragraph  4.1 has been  completed  (the "PRC  OPINION").
      Within 10 days of the date of the  delivery  of the PRC Opinion to Party B
      (the  "INVESTMENT  DATE") and provided that Party A is in compliance  with
      the  above  paragraphs,  Party B shall  pay to Party A (the  "FIRST  STAGE
      INVESTMENT")  a sum of  US$300,000  or its  equivalent  in RMB or HK$  (an
      amount of US$273,000  being the  contribution  to the  registered  capital
      payable  by Party B and the  remaining  sum may be used for  Pre-Operating
      Expenses).  For such purposes,  any Pre-Operating Expenses shall be deemed
      to be  contributions  by Party B to the First  Stage  Investment  and such
      Pre-Operating Expenses shall be deducted from the sum of US$300,000 or its
      equivalent   in  RMB  or  HK$  actually  paid  to  the  Joint  Venture  in
      satisfaction of the First Stage  Investment.  Any balance of the remaining
      sum not used for  Pre-Operating  Expenses will be allocated to satisfy the
      Second  Stage  Investment.  However,  Party B shall  reimburse  the  Joint
      Venture for any Pre-Operating Expenses incurred in excess of the remaining
      sum of US$27,000 to be used for Pre-Operating Expenses.

5.    SECOND STAGE:

      Within 3 months after the incorporation of the Joint Venture, and provided
      that  there  is  no  breach  of  the   representations,   warranties   and
      undertakings of Party A, Party B shall either:

      (a)   make a further  contribution (the "SECOND STAGE  INVESTMENT") to the
            total  investment  of the Joint  Venture in the sum of US$300,000 or
            its equivalent in RMB or HK$; or

      (b)   to be proposed by Party B and accepted by Party A,  retransfer  (the
            "SECOND  STAGE  RETRANSFER")  60% of the  shares  in the  registered
            capital  held  by  Party B in the  Joint  Venture  to  Party A at no
            further  consideration  such that after the Second Stage Retransfer,
            Party B will  hold 19% of the  shares in the  Joint  Venture,  while
            Party A will hold 81% of the shares in the Joint Venture.

      Should the Second Stage Retransfer be effected, the Third Stage Investment
      (as  hereinafter  defined)  or  Third  Stage  Retransfer  (as  hereinafter
      defined) will lapse and Party B shall have no other obligation to make any
      more investments or contributions into the Joint Venture whatsoever.

                                                                               3
<PAGE>

6.    THIRD STAGE:

      Within 6 months after  expiry of the date of the Second Stage  Investment,
      and provided  that there is no breach of the  representations,  warranties
      and undertakings of Party A, Party B shall either:

      (a)   make a further  contribution  (the "THIRD STAGE  INVESTMENT") to the
            total  investment  of the Joint  Venture in the sum of US$300,000 or
            its equivalent in RMB or HK$; or

      (b)   to be proposed by Party B and accepted by Party A,  retransfer  (the
            "THIRD  STAGE  RETRANSFER")  40% of  the  shares  in the  registered
            capital  held  by  Party B in the  Joint  Venture  to  Party A at no
            further  consideration  such that after the Third Stage  Retransfer,
            Party B will  hold 39% of the  shares in the  Joint  Venture,  while
            Party A will hold 61% of the shares in the Joint Venture.

      Should the Third Stage Retransfer be effected, the Fourth Stage Investment
      (as  hereinafter  defined)  or Fourth  Stage  Retransfer  (as  hereinafter
      defined) will lapse and Party B shall have no other obligation to make any
      more investments or contributions into the Joint Venture whatsoever.

7.    FOURTH STAGE:

      Within  6  months  after  the  expiry  of  the  date  of the  Third  Stage
      Investment,  and provided that there is no breach of the  representations,
      warranties and undertakings of Party A, Party B shall either:

      (a)   make a further  contribution (the "FOURTH STAGE  INVESTMENT") to the
            total  investment  of the Joint  Venture in the sum of US$300,000 or
            its equivalent in RMB or HK$; or

      (b)   as proposed  by Party B and  accepted  by Party A,  retransfer  (the
            "FOURTH  STAGE  RETRANSFER")  20% of the  shares  in the  registered
            capital  held  by  Party  B in  the  Joint  Venture  at  no  further
            consideration  such that after the Fourth Stage Retransfer,  Party B
            will hold 59% of the shares in the Joint Venture, while Party A will
            hold 41% of the shares in the Joint Venture.

      Should the Fourth  Stage  Retransfer  be  effected,  Party B shall have no
      other obligation to make any more  investments or  contributions  into the
      Joint Venture whatsoever.

                                                                               4
<PAGE>

8.    FURTHER CONTRIBUTION AND INTERPARTY LOANS:

8.1   After the Fourth  Stage  Investment  has been made by Party B, any working
      capital and cash  requirements  of the Joint  Venture  will be met in such
      manner as the board of  directors of the Joint  Venture (the  "BOARD") may
      from time to time resolve, which may include, but not limited to, advances
      from  financial  institutions,  other  third  party  sources or by further
      advances from Parties A and Party B.

      If Parties A and Party B are required to extend loans and/or any provision
      of finance to the Joint Venture ("FURTHER ADVANCE"):

      (1)   such  loans  shall be made by them in  accordance  with the ratio of
            holding in the registered capital (the "SHARED RATIO");

      (2)   any such loans shall be made on terms that:

            (a)   they shall be unsecured  and  interest-free  and are repayable
                  only when the Board  determines  that the financial  condition
                  and cash requirements of the Joint Venture permit repayment in
                  whole or in part; and

            (b)   they shall only be repaid in such  proportions so as to ensure
                  that the total loans  remaining  due to each party shall be in
                  accordance with the Shared Ratio.

8.2   Should any party refuse or fail to provide  Further  Advances  pursuant to
      the Shared  Ratio to the Joint  Venture,  the other  party shall [have the
      right,  but not the  obligation,  to] provide  such portion of the Further
      Advance to the Joint  Venture on behalf of such party and such  portion of
      the Further Advance be deemed as a loan from the other party to such party
      (the "INTERPARTY LOAN"). The terms of the Interparty Loan are as follows:

      (a)   It is  repayable  at any time and charged at an interest  rate of 8%
            per  annum  calculated  and  payable  on  a  monthly  basis  on  the
            outstanding amount of the Interparty Loan;

      (b)   For so long as the Interparty Loan and any accrued  interest has not
            been repaid in full,  75% of the share of the  obliged  party in any
            and  all  future  distributions  of  profits  by the  Joint  Venture
            pursuant to its holdings in the registered  capital shall be paid to
            the other  party  firstly  towards  the  satisfaction  of any unpaid
            accrued  interest  on the  Interparty  Loan and  thereafter  towards
            repayment of any  outstanding  principal of the Interparty  Loan and
            the obliged party shall be entitled to the remaining  25%, until the
            Interparty Loan is fully repaid.

                                                                               5
<PAGE>

      [(c)  Party B may request/ask for further  guarantee/securities  as it may
            require to secure the Interparty Loan.]

9.    FORMAL  LEGAL  AGREEMENTS:   The  parties  agree  that  the  formal  legal
      agreements  will  set out  appropriate  and in  more  detail  (subject  to
      limitations and qualifications to be agreed) operations and arrangement in
      relation  to  the  Joint  Venture,   including   without   limitation  the
      constitutional documents.

10.   REPRESENTATIONS AND WARRANTIES AND UNDERTAKINGS

Party  A represents  and warrants  that the Formal  Approvals,  when obtained or
       granted,  are  legal,  valid,  binding  and  enforceable  and  capable of
       allowing the Joint Venture to conduct the intended business.

Party  B represents  and warrants  that  starting  from the date that Party A on
       behalf of the Joint Venture  applies for the relevant  Consents,  Party B
       shall pay the Pre-Operating Expenses to Party A in accordance with Clause
       4.2 of this  Agreement  so that  the  Joint  Venture  can be  established
       smoothly.

Party  A  undertakes  to  Party B that it  shall  take  all  necessary  steps to
       maintain the  effectiveness  of the Formal  Approvals.  Party A must also
       deal with and  prohibit  all illegal  exploration  and mining  activities
       within the  exploration  region of the Joint Venture (as shown in the red
       line diagram annexed hereto).

Party  B undertakes to Party A that if the Joint Venture  cannot be  established
       due to the fault of Party B, the  Pre-Operating  Expenses paid by Party B
       to Party A shall not be refundable. If Party A does not agree (or accept)
       the terms of the retransfer  proposed by Party B at the Second Investment
       Stage, the Third Investment Stage or the Fourth Investment Stage, Party B
       shall make  investment in such amount and within such period to the Joint
       Venture in accordance with this Agreement.

MANAGEMENT OF JOINT VENTURE

11.   MANAGEMENT  AND  SUPERVISION:  Management  and  supervision  of the  Joint
      Venture shall be the  responsibility  and the sole discretion of the Board
      of the Joint  Venture,  who shall set the Joint  Venture's  objectives and
      policies and  guidelines  and supervise and review the  performance of the
      Joint Venture, to operate and carry out the business of the Joint Venture.
      Unless otherwise  agreed between the parties to this Agreement,  the Board
      shall have 5 members.

                                                                               6
<PAGE>

12.   CHAIRMAN  OF THE BOARD:  The  chairman  of the Board of the Joint  Venture
      shall be the director nominated by Party B, with the deputy chairman being
      a director nominated by Party A.

13.   DECISION  OF THE BOARD:  All  decisions  of the Board shall be passed by a
      simple  majority of three or more members,  except the  following  matters
      will require unanimous approval of the members of the Board:

      (a)   amendments  to the  articles  of the  Joint  Venture  and the  rules
            thereof;

      (b)   merger with, segregation of or formation of new enterprises; and

      (c)   dissolution of the Joint Venture.

14.   APPOINTMENT TO THE BOARD:

      Party B shall be entitled to appoint  (and remove) 3 members to the Board,
      while Party A shall be entitled to appoint  (and  remove) 2 members to the
      Board in  writing.  If a  retransfer  is effected  after the Second  Stage
      Investment  to the Fourth Stage  Investment,  the  entitlement  to appoint
      directors to the Board shall be adjusted correspondingly  according to the
      change in the proportion of the shares held by both parties.

15.   APPOINTMENT TO SUPERVISORY  COMMITTEE:  The supervisory committee shall be
      comprised of 3 members. Party A shall appoint (and remove) the convener to
      the supervisory committee. Party B shall appoint (and remove) 2 members to
      the supervisory committee.

16.   SENIOR  MANAGEMENT:  Senior  management of the Joint Venture  includes the
      General  Manager,  the Chief  Financial  Officer  and the Chief  Operating
      Officer.  The General  Manager and the Chief  Financial  Officer  shall be
      nominated by Party B and the Chief Operating Officer shall be nominated by
      Party A

                                                                               7
<PAGE>

CONFIDENTIALITY

17.   CONFIDENTIALITY: Each of the parties shall keep confidential and shall not
      disclose to any other person,  nor use for any purpose except the purposes
      of the Joint Venture,  any information  obtained from the other party as a
      result of  negotiating,  entering into or  implementing  the Joint Venture
      other than information which:

      (a)   is  required  to be  disclosed  by  operation  of law  or any  stock
            exchange  regulations  or any  binding  judgment  or  order,  or any
            request of a competent authority;

      (b)   is  reasonably  required to be disclosed in  confidence to a party's
            professional  advisers for use in connection  with the Joint Venture
            and/or matters contemplated herein; or

      (c)   is or becomes within the public domain  (otherwise  than through the
            default of the recipient party).

GOVERNING LAW

18.   GOVERNING  LAW: This  Agreement  shall be governed by laws of the People's
      Republic of China.

PROCEDURE

19.   Definitive  LEGAL  DOCUMENTS:  Following  and  within  [60]  days  of  the
      execution of this  Agreement (the  "Period"),  the parties will proceed as
      rapidly as possible with the preparation, negotiation and execution of the
      definitive legal agreements (the "FORMAL DOCUMENTS").

20.   EXCLUSIVITY: During the Period, Party A agrees not to deal, partner and/or
      cooperate  with any third  party  regarding  the  setting  up of the Joint
      Venture, the proposed business of the Joint Venture and the mining rights.

JURISDICTION

21.   JURISDICTION:  Each of Party A and Party B hereby  irrevocably agrees that
      any suit,  action or  proceeding  (together in this Clause  referred to as
      "PROCEEDINGS")  arising out of or in connection with this Agreement may be
      brought in the courts of the  People's  Republic of China,  submits to the
      jurisdiction  of such  courts  in  connection  therewith  and  waives  any
      objection which it may have now or hereafter to the laying of the venue of
      any  such  Proceedings  in any  such  court  and any  claim  that any such
      Proceedings have been brought in an inconvenient forum.

                                                                               8
<PAGE>

DISPUTE RESOLUTION

22.    In the event that any  difficulty  or dispute  arises in  relation to the
       interpretation   or  implementation  of  this  Agreement  or  the  Formal
       Documents,  the relevant  parties  shall  attempt to resolve such dispute
       through friendly consultation or conciliation between  representatives of
       the parties appointed for the purpose. If the relevant parties are unable
       to resolve any dispute in this manner  within ninety days of such dispute
       arising,  then any party may elect to  submit  the  dispute  to the China
       International  Economic and Trade Arbitration  Commission in Beijing, the
       People's Republic of China for arbitration.

23.    Any  arbitration  of any dispute in relation to this  Agreement  shall be
       governed by the laws of the People's  Republic of China.  Any arbitration
       award resulting from such  proceedings  shall be final and binding on the
       parties.  The costs of any arbitration  proceedings shall be borne by the
       losing party.

ASSIGNMENT

24.    In  principle,  neither Party A nor Party B shall be entitled to transfer
       or otherwise create any encumbrance  over any interest,  rights or duties
       over this  Agreement.  If upon  occurrence  of certain  events  which are
       recognized  by both  parties  as one in which one of the  parties  has to
       transfer or otherwise create any encumbrance over any interest, rights or
       duties  over  this  Agreement,  such  transfer  or the  creation  of such
       encumbrance  shall be subject to the  written  consent of the other party
       and the other party shall have the right of first refusal.

INVESTMENT RISK AND RIGHTS

25.    INVESTMENT  RISK:  All  investments  made by Party B under this Agreement
       shall  be used as  funding  for  exploration  of land  resources.  If the
       results of such exploration show no value for industrial mining,  Party B
       shall not be entitled to request for the refund of the  investment.  Both
       parties  shall hold their  shares in  accordance  with their agreed ratio
       within 6 months.  In the event  that no  investment  or  transfer  of the
       exploration  results in the whole have been made  within 6 months of this
       Agreement,  the results of  exploration  shall  belong to Party A and the
       Joint Venture shall be dissolved.

                                                                               9
<PAGE>

26.    INVESTMENT  RIGHTS:  (a) If the  result of  exploration  shows  value for
       industrial  mining,  the Joint Venture  shall have first  priority in the
       mining  rights  and  Party A and  Party  B  shall  have  the  rights  and
       obligations  according to the Shared Ratio under this  Agreement;  (b) if
       the result of exploration  shows value for industrial mining but does not
       fulfill the production  conditions agreed by both parties, the assignment
       proceeds of such  exploration  result shall be allocated  between Party A
       and Party B according to the Shared Ratio in the Joint Venture.

STATUS

28.   STATUS: This Agreement represents the good faith intentions of the parties
      to proceed  with the  proposed  Joint  Venture and is legally  binding and
      creates legal  obligations  on all parties.  Its purpose is to set out the
      principles  on  which  the  parties  intend  in good  faith  to  negotiate
      definitive Formal Documents.

IN WITNESS  whereof this  Agreement has been entered into the day and year first
above written.

SIGNED BY                                   )
                                            )
on behalf of FENGCHENG                      )
GOLD CORPORATION,                           )
LIAONING                                    )
in the presence of:                         )

SIGNED BY                                   )
                                            )
on behalf of JHP                            )
RESOURCES LIMITED                           )
in the presence of:                         )

                                                                              10

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