Document:

Notice of Exercise to Metalquest

February 29, 2008

Minera Montana Roja S.A. de C.V.

c/o 520-700 West Pender Street

Vancouver, British Columbia 

V6C 1G8

Metalquest Minerals Inc.

520-700 West Pender Street

Vancouver, British Columbia 

V6C 1G8

Dear Dave McMillan:

Re:

Animas Resources Exercise of Option 

Pursuant to section 2 of the Option Agreement dated July 5, 2007 (the “Option Agreement”) between Animas Resources Ltd. (“Animas”) and Minera Montana Roja S.A. de C.V. we hereby provide you with notice of Animas’ exercise of its option to acquire a 100% interest in the Property, as such term is defined in the Option Agreement, a copy of which is attached hereto.  Animas has elected to satisfy the exercise price by issuing 307,429 common shares to Metalquest Minerals Inc. (“Metalquest”) which number of shares represents the option exercise price of US$450,000 based on a deemed value per share equal to the weighted average trading price of Animas’ common shares for the 30 trading days prior to today’s date.

In consideration for Animas agreeing to exercise the option and acquire the Property, Metalquest represents to Animas that all mining duties, taxes or other amounts that may be due and payable to the Mexican Mining authorities in connection with the Property for the past 5 years have been paid in accordance with Mexican mining law.  Metalquest further represents to Animas that all assessment reports that were required to have been filed in connection with the Property in the last 5 years have been filed with the appropriate regulatory body.  Metalquest agrees to indemnify Animas for any loss that Animas may incur as a result of a breach of the foregoing representations and further agrees to reimburse Animas for any amount that Animas may have to pay to the Mexican mining authorities in order to bring the Property back into good standing as a result of the non-payment of any mining duties, taxes or other amounts pursuant to Mexican mining law or any amount payable as a result of the failure to file any required assessment reports.

Please sign and return to our attention the enclosed copy of this letter acknowledging your agreement to the terms of this exercise notice.  Upon receipt, we will then take the necessary steps to obtain TSX Venture Exchange approval to the issuance of the common shares.  We expect to be able to deliver the common shares to you within 5 business days of the date we receive your acceptance.Don Victor Agreement

ASSIGNMENT OF RIGHTS PROMISE AGREEMENT ENTERED INTO BY AND BETWEEN, ON ONE HAND, MR. VICTOR MANUEL RIVERA GAXIOLA TOGETHER WITH HIS SPOUSE, MRS. LAURA SOTO FELIX DE JUVERA IN THEIR CAPACITY AS OFFERER CONCESSIONAIRE OF THE FOLLOWING EXPLOITATION AND EXPLORATION MINING LOTS: "LA PEQUE" WITH TITLE NUMBER 191734; "LA PEQUE 1" WITH TITLE NUMBER 195805; AND "EL TASCALITO" WITH TITLE NUMBER 216066, AND, ON THE OTHER HAND MINERA CHUQUI, S.A. DE C.V., THROUGH ITS LEGAL REPRESENTATIVE AND SOLE ADMINISTRATOR, MR. ALBERTO NAVARRO MAYER, HEREINAFTER REFERRED TO AS "THE ACQUIRER", PURSUANT TO THE FOLLOWING:

RECITALS

I- THE OFFEROR CONCESSIONAIRE STATES:

A)

THAT HE IS A MEXICAN NATIONAL BY BIRTH, OF MEXICAN NATIONALITY, OF LEGAL AGE, BORN IN CANANEA, STATE OF SONORA, ON NOVEMBER TWO, ONE THOUSAND NINE HUNDRED THIRTY TWO, MARITAL STATUS MARRIED, GEOLOGICAL ENGINEER, WITH DOMICILE AT BOULEVARD REAL DEL ARCO NUMBER ONE HUNDRED TWO, COLONIA VILLA SATELITE, IN THE CITY OF HERMOSILLO, SONORA.

B)

THAT HE HAS LEGAL CAPACITY TO ENTER INTO AGREEMENTS AND THAT HE IS THE LEGITIMATE HOLDER OF THE EXPLORATION RIGHTS OF MINING EXPLOITATION LOTS "LA PEQUE", WITH TITLE NUMBER 191734 AND AN AREA OF 9.3864 HECTARES; "LA PEQUE F', WITH TITLE NUMBER 195805 AND AN AREA OF 7.4929 HECTARES; AND "EL TASCALITO", WITH TITLE NUMBER 216066 AND AN AREA OF 24 HECTARES, LOCATED IN THE MUNICIPALITY OF CUCURPE, SONORA, AND WHICH HAVE BEEN REGISTERED IN THE PUBLIC MINING REGISTRY OF THE DIRECTION GENERAL OF MINES, WHICH HEREINAFTER SHALL BE REFERRED TO AS THE LOTS.

C) THE OFFERER CONCESSIONAIRE CONTINUES STATING THAT THE RIGHTS HE HAS WITH RESPECT TO THE LOTS HAVE NEITHER BEEN LIMITED, NOR REVOKED AND THAT THERE IS NO OPPOSITION WHATSOEVER FROM ANY THIRD PARTY WITH RESPECT TO THE EXECUTION HEREOF.

D)

THAT THE RIGHTS RESULTING FROM THE EXPLORATION MINING CONCESSIONS WITH RESPECT TO THE LOTS ARE FREE AND CLEAR OF LIENS, ENCUMBRANCES, OBLIGATIONS OR LIMITATION OF OWNERSHIP OF ANY NATURE AND THAT WITH THE EXCEPTION OF THE AGREEMENT SET FORTH HEREIN, THEY HAVE NOT PERFORMED NOR SHALL THEY PERFORM ANY OTHER ACT WHATSOEVER WITH RESPECT TO THE LOTS.

E)

THAT HE WISHES TO ENTER INTO THIS PROMISE AGREEMENT IN ORDER TO ASSIGN TO THE ACQUIRER, WITHOUT ANY RESERVE OR LIMITATION

WHATSOEVER, FREE AND CLEAR OF LIENS, 100% OF HIS RIGHTS RESULTING FROM THE EXPLOITATION MINING CONCESSION TITLES.

II- THE ACQUIRER STATES:

A)

THAT IT IS A MEXICAN CORPORATION WITH DOMICILE TO BE SERVED SUMMONS AT RINCON DE LA HERRADURA NUMBER FIFTEEN A, COLONIA VILLA SATELITE, MUNICIPALITY OF HERMOSILLO, SONORA; THAT IT IS A CORPORATION THAT HAS BEEN DULY ORGANIZED, WITH LEGAL CAPACITY TO CONDUCT THE EXPLORATION, EXPLOITATION AND BENEFICIATION OF ALL GRANTABLE SUBSTANCES, AS WELL AS TO ENTER INTO AGREEMENTS WHOSE OBJECT ARE THE RIGHTS RESULTING FROM SAID CONCESSIONS AND, THEREFORE, ABLE TO ENTER INTO THIS ASSIGNMENT OF RIGHTS PROMISE AGREEMENT.

B)

THAT IT IS INTERESTED IN ACQUIRING THE RIGHTS RESULTING FROM THE TITLE OF THE MINING CONCESSIONS THAT HAVE BEEN DESCRIBED IN RECITAL IB).

III.- LASTLY, BOTH PARTIES STATE:

A)

THAT IT IS THEIR FREE WILL TO ASSIGN AND TO RECEIVE THE RIGHTS CONTEMPLATED HEREIN, BASED ON WHAT IS SET FORTH IN ARTICLES 19 AND 23 OF THE MINING LAW IN FORCE AND ARTICLE 77 OF ITS REGULATION, PURSUANT TO THE FOLLOWING:

CLAUSES

FIRST.-THE OFFERER CONCESSIONAIRE COMMITS TO ASSIGN AND TO TRANSFER IN A DEFINITIVE MANNER AND WITHOUT RESERVES, NOR ANY LEGAL LIMITATION WHATSOEVER., TO THE ACQUIRER, 100% OF THE RIGHTS AND OBLIGATIONS RESULTING FROM THE EXPLOITATION MINING CONCESSION TITLES THAT HAVE BEEN DESCRIBED IN RECITAL IB), HEREOF.

SECOND.- BOTH PARTIES AGREE THAT THE ACQUIRER SHALL COMMIT TO PAY TO THE OFFER CONCESSIONAIRE, US$ 950,000.00 (NINE HUNDRED FIFTY THOUSAND DOLLARS LEGAL TENDER OF THE UNITED STATES OF AMERICA) PURSUANT TO THE FOLLOWING PAYMENT SCHEDULE:

	YEAR

	AMOUNT IN

US

DOLLARS

	MONTH

	CASH

PAYMENT IN

US DOLLARS

	PAYMENT IN

SHARES OF

ANIMAS

REOSURCES

	1

	 	AT THE

	 	 

	 	$95,000.00

	EXECUTION

HEREOF

	$25,000.00

	$20,000.00

	 	 	12

	$25,000.00

	$25,000.00

	2

	$142,500.00

	18

	$30,000.00

	$35,000.00

	 	 	24

	$30,000.00

	$47,500.00

	3

	$ 190,000.00

	30

	$35,000.00

	$55,000.00

	 	 	36

	$35,000.00

	$65,000.00

	4

	$ 237,500.00

	42

	$40,000.00

	$70,000.00

	 	 	48

	$40,000.00

	$87,500.00

	5

	$ 285,000.00

	54

	$45,000.00

	$90,000.00

	 	 	60

	$45,000.00

	$105,000.00

	TOTALS

	$ 950,000.00

	 	$350,000.00

	$600,000.00

THE FOREGOING IS THE PAYMENT FOR THE CONCESSION, PLUS ANY VALUE ADDED IMPLIED BY ANY COSTS GENERATED, AS CONSIDERATION FOR THE ASSIGNMENT REFERRED TO IN THE FOREGOING CLAUSE. IN THIS ACT AND IN PRESENCE OF THE NOTARY PUBLIC, ATTORNEY RAMON VALENCIA SERRANO, NOTARY PUBLIC NUMBER 4 FOR COMMERCIAL AND ADMINISTRATIVE MATTERS IN SONORA, THE PAYMENT IS MADE IN CASH TO THE OFFERER CONCESSIONAIRE, DUE TO WHICH HE GRANTS THE MOST EFFECTIVE RECEIPT ACCORDING TO LAW, THROUGH THE EXECUTION HEREOF.

THIRD.- BOTH PARTIES STATE THEIR AGREEMENT THAT AT THE EXECUTION HEREOF, THIS INSTRUMENT SHALL BECOME FULLY EFFECTIVE; THEREFORE, 100% OF THE RIGHTS AND OBLIGATIONS RESULTING FROM THE MINING CONCESSIONS WITH RESPECT TO THE LOTS SHALL BE ASSIGNED IN FAVOR OF THE ACQUIRER.

FOURTH.- THE PARTIES MUTUALLY ACKNOWLEDGE THEIR CAPACITY AND LEGAL STANDING TO ENTER INTO THIS AGREEMENT AND STATE THAT THERE IS NO INJURY, FRAUD, ERROR, COERCION, OR BAD FAITH, NIT UNLAWFUL ENRICHMENT.

FIFTH.- THE ACQUIRER EXPRESSLY COMMITS TO REGISTER THIS AGREEMENT IN THE PUBLIC REGISTRY OF MINING IN DUE TIME.

SIXTH.- THE OFFERER CONCESSIONAIRE COMMITS TO PROVIDE TO THE ACQUIRER, THE ENTIRE INFORMATION THE LATTER MAY REQUEST FROM HIM, AS WELL AS TO EXECUTE, CREDIT, AND COMPLY WITH ANY OTHER REQUIREMENT THAT MAY BE NECESSARY, SO THAT THE ACQUIRER MAY EXERCISE THE RIGHTS BEING CONFERRED TO IT HEREUNDER.

SEVENTH.- THIS AGREEMENT IS EXECUTED PURSUANT TO THE TERMS OF ARTICLE 78 OF THE COMMERCE CODE AND IT IS OF A MERCANTILE NATURE;

THEREFORE, THE MINING LAW AND ITS REGULATION, AS WELL AS THE CIVIL CODE FOR THE FEDERAL DISTRICT IN COMMON MATTERS AND FOR THE ENTIRE MEXICAN REPUBLIC IN FEDERAL MATTERS SHALL BE APPLICABLE FOR WHAT IS NOT EXPRESSLY AGREED TO HEREIN AND FOR PURPOSES OF THE INTERPRETATION AND COMPLIANCE HEREOF.

EIGHTH.- FOR THE RESOLUTION OF ANY CONTROVERSY THAT MAY ARISE DUE TO THIS DOCUMENT, THE PARTIES EXPRESSLY SUBJECT TO THE JURISDICTION OF THE COMPETENT COURTS IN THE CITY OF HERMOSILLO, SONORA, WAIVING ANY JURISDICTION THAT COULD CORRESPOND TO THEM DUE TO THEIR PRESENT OR FUTURE DOMICILES, NO MATTER THEIR PRIVILEGES.

THIS DOCUMENT HAS BEEN PREPARED IN FOUR COPIES, ONE FOR EACH OF THE PARTIES; ANOTHER ONE FOR NOTARIAL PURPOSES, AND THE LAST ONE, FOR ITS REGISTRATION IN THE PUBLIC MINING REGISTRY. AFTER THE PARTIES HAD READ THIS DOCUMENT, BEING WELL AWARE OF ITS LEGAL VALUE AND CONSEQUENCES AND HAVING STATED THEIR AGREEMENT THEREWITH, THEY RATIFY EACH AND EVERYONE OF ITS TERMS AND UNDERSIGN IT AND SIGN ON THE MARGINS OF ITS PAGES FOR THE RECORD ON JULY 31ST, 2007, IN THE CITY OF HERMOSILLO, SONORA.

THE CONCESSIONAIRE

ENG. VICTOR MANUEL JUVERA GAXIOLA

MRS. LAURA SOTO FELIX DE JUVERA

THE ACQUIROR

ENG. ALBERTO NAVARRO MAYER LEGAL REPRESENTATIVE OF MINERA CHUQUI, S.A. DE C.VWilson Employment Agreement

 

EMPLOYMENT AGREEMENT

THIS AGREEMENT, dated for reference July 15, 20­­07, is made 

BETWEEN:

ANIMAS RESOURCES LTD., a British Columbia company with its registered office at 410-325 Howe Street, Vancouver, BC  V6C 1Z7

(the “Company”);

AND:

John R. Wilson, 279 Birch Valley, Hermantown, MN, USA, 55811

(“Wilson”).

WHEREAS: 

The Company is a reporting issuer in British Columbia engaged in the exploration industry; and The Company wishes to engage Wilson to serve as Company’s Vice President of Exploration (hereinafter “VP Exploration”) and Wilson is prepared to provide such services to the Company on the terms and conditions of this Agreement.

THEREFORE, the parties agree:

ENGAGEMENT

The Company engages Wilson as it VP Exploration, and Wilson agrees to serve as the Company’s VP Exploration. Wilson’s services as VP Exploration shall include, but not be limited to, providing technical and geologic oversight and guidance to the Company, work with the Management of the Company to implement the goals and objectives of the Company, relative to the exploration of natural resource projects, including, but not limited to those projects associated with the Santa Gertrudis gold deposits located in Mexico.

REMUNERATION AND REIMBURSEMENT

In consideration for the services to be provided to the Company by Wilson, the Company will compensate Wilson in the following manner:

1)

Salary in the amount of $10,000 (USD) per month during the term of this Agreement.

2)

An option to acquire 200,000 shares in the Company in the format and pursuant to the terms and conditions contained in Exhibit A (Stock Option Stock Certificate) attached hereto.

3)

Can be granted up a total of 300,000 shares of Animas Resources LTD in the format and pursuant to the terms and conditions contained in Exhibit B (Performance Pool Agreement) attached hereto.

4)

Provide or reimburse Wilson for the cost of a vehicle necessary to conduct any of his duties in Mexico.

5)

Provide Wilson with appropriate the computer software necessary to establish the working geologic models maps relative to the duties Wilson will perform pursuant to the is Agreement.

6)

Assist Wilson in obtaining an appropriate visa from the Mexican government necessary for Wilson to conduct any of his duties pursuant to this Agreement.

7)

Reimburse Wilson for any Mexican tax obligations which he might incur relative to his work for the Company in Mexico beyond the days allowed by Mexican law.

DUTIES OF WILSON

During the term of this Agreement, Wilson will: 

1.

provide the services required under this Agreement honestly and diligently, and will use his best efforts to serve the Company and promote its interests; 

2.

obey and carry out all lawful and reasonable instructions, rules and    policies, and bylaws and internal governance documents of the Company and the lawful directions as given to him by the Management of the Company; 

3.

and, to keep himself informed of and comply with all applicable laws and policies relating to the provision of its services under this Agreement.

Wilson shall be allowed to continue his other consulting obligations to the extent that such obligations do not require more than five days per month commitment by Wilson.

CONFIDENTIAL INFORMATION

Wilson will not for his personal use, directly or indirectly, use, disseminate, disclose, communicate, divulge, reveal, publish, any confidential information relating to the Company, whether during the term of this Agreement or thereafter, unless he first receives written permission to do so from an authorized officer of the Company. For the purposes of this Agreement, “confidential information” is information disclosed to or acquired by Wilson relating to the business of the Company, its projects or the personal affairs of the directors, officers and shareholders of the Company, including information developed or gathered by Wilson which has not been approved by the Company for public dissemination.  Confidential information does not include information in the public domain, information released from the provisions of this Agreement by written authorization of an authorized officer of the Company, information which is part of the general skill and knowledge of Wilson and does not relate specifically to the business of the Company, and information which is authorized by the Company to be disclosed in the ordinary course or is required by law or applicable regulatory policy to be disclosed.

AMENDMENTS

No amendment, change, modification or addition to this Agreement will be valid unless made in writing and executed by both parties.

TERM

Wilson shall serve as VP Exploration of the Company beginning August 1, 2007 until such time as he resigns said position or is removed from said position by the Management of the Company after 30 days prior notice.

NOTICE

Any notice under this Agreement will be given in writing and must be delivered, sent by telex, telegram or telecopier or mailed by prepaid post and addressed to the party to which notice is to be given at the address indicated above, or at another address designated by such party in writing. If notice is sent by telex, telegram or telecopier or is delivered, it will be deemed to have been given at the time of transmission or delivery. If notice is mailed, it will be deemed to have been received 48 hours following the date of mailing of the notice.

If there is an interruption in normal mail service due to strike, labor unrest or other cause at or prior to the time a notice is mailed the notice will be sent by telex, telegram or telecopier or will be delivered.

GOVERNING LAW

This Agreement is governed by the law of British Columbia and, except as otherwise provided in this Agreement; the parties attorn to the exclusive jurisdiction of the courts of British Columbia for the resolution of all disputes arising out of or in connection with this Agreement.

IN WITNESS of this Agreement, the parties have executed and delivered this Agreement as of the date given above.

ANIMAS RESOURCES LTD.

Gregory E. McKelvey, President & CEO

JOHN R. WILSON

Authorized Signatory

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00144-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00144-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00144-of-00352.parquet"}]]