Document:

Resignation Agreement

 Exhibit 10.1 
  
 RESIGNATION AGREEMENT 
  
 THIS RESIGNATION AGREEMENT (this “Agreement”) is made, entered into, and effective as of July 20, 2005 by and between Apogee Enterprises, Inc.,
a Minnesota corporation (the “Company”), and William F. Marchido (the “Executive”). 
  
 WITNESSETH: 
  
 WHEREAS, the Company accepts Executive’s resignation effective as of August 1, 2005 (the “Resignation Date”); and 
  
 WHEREAS, prior to the Resignation Date, Executive was employed as Chief Financial Officer of the Company; 
  
 WHEREAS, effective on the Resignation Date, Executive resigned as an
employee of the Company, and from any and all offices of the Company, and any other position, office, or directorship of any other entity for which Executive was serving at the request of the Company; and 
  
 WHEREAS, the Company and Executive desire to set forth the payments
and benefits that Executive will be entitled to receive from the Company in connection with his resignation from employment with the Company; and 
  
 WHEREAS, the Company and Executive wish to resolve, settle, and/or compromise certain matters, claims, and issues between them, including, without
limitation, Executive’s resignation from the offices he held and from his employment with the Company. 
  
 NOW, THEREFORE, in consideration of the promises and agreements contained herein and other good and valuable consideration, the sufficiency
and receipt of which are hereby acknowledged, and intending to be legally bound, the Company and Executive hereby agree as follows: 
  
 1. Resignation. Executive hereby resigns, effective on the Resignation Date, his employment with the Company and its subsidiaries and
related or affiliated companies, and his position as Chief Financial Officer of the Company. Executive further resigns, effective on the Resignation Date, (a) from all offices of the Company to which he has been elected by the Board of Directors of
the Company (or to which he has otherwise been appointed), (b) from all offices of any entity that is a subsidiary of, or is otherwise related to or affiliated with, the Company, (c) from all administrative, fiduciary, or other positions he may hold
with respect to arrangements or plans for, of, or relating to the Company, and (d) from any other directorship, office, or position of any corporation, partnership, joint venture, trust, or other enterprise (each, an “Other Entity”)
insofar as Executive is serving in the directorship, office, or position of the Other Entity at the request of the Company. The Company hereby consents to and accepts said resignations effective as of the Resignation Date. 
  
 2. Payments and Benefits. As consideration for Executive’s
promises and obligations under this Agreement, including, but not limited to, Executive’s release of any and all claims against the Company as provided in paragraph 4, the Company agrees as follows: 

 a. Separation Payment. As separation pay, the Company shall pay Executive an amount
equal to Two Hundred Eighty-Four Thousand Nine Hundred Dollars ($284,900) (the “Separation Pay”). The Separation Pay shall be paid as follows: (i) for the period of time commencing on August 12, 2005, and terminating on March 10, 2006, the
Company shall pay to Executive bi-weekly installments of Ten Thousand Nine Hundred Fifty-Eight Dollars ($10,958) on the Company’s regularly scheduled pay days; and (ii) on or before March 10, 2006, the Company shall pay Executive the remaining
balance of the Separation Pay in one (1) lump sum payment. 
  
 b. COBRA Payment. The Company shall pay to Executive an amount equal to Fifteen Thousand Five Hundred Twenty Eight Dollars and Thirty-One Cents ($15,528.31) to compensate him for COBRA payments. This amount shall be
paid to Executive in one (1) lump sum payable within thirty (30) days after Executive has returned this signed Agreement to the Company. 
  
 c. Automobile Allowance. During his employment with the Company, Executive received a biweekly automobile allowance. The Company
shall pay Executive Nine Thousand Seven Hundred Forty-Four Dollars ($9,744), an amount equal to twenty-six (26) biweekly automobile allowance payments, in one (1) lump sum payable within thirty (30) days after Executive has returned this signed
Agreement to the Company. 
  
 d. Outplacement. The
Company shall provide Executive with outplacement assistance through a mutually agreed upon provider. The maximum amount the Company shall pay for outplacement assistance is Ten Thousand Dollars ($10,000), and any and all payments for outplacement
assistance shall be promptly made by the Company directly to the provider, following the Company’s receipt of documentation reasonably sufficient to substantiate the expense. 
  
 e. Company Benefit Plans and Executive’s Eligibility, Rights, and Obligations Thereunder.
Executive’s post-resignation eligibility for and rights and obligations with respect to any employee benefit as a past employee of the Company under the Company’s retirement and welfare benefits plans (including, but not limited to, the
Amended and Restated Apogee Enterprises, Inc. Partnership Plan and the Amended and Restated Apogee Enterprises, Inc. 2002 Omnibus Stock Incentive Plan), other than as explicitly modified by this Agreement, shall be as set forth in the respective
plan documents, and shall be based on his employment termination on the Resignation Date, and his entitlement to the benefits for the period of his participation therein, and his rights and obligations thereunder, shall be determined pursuant to the
express written terms and conditions thereof. 
  
 f.
Withholding. The Company shall withhold such amounts from the payments described in this paragraph 2 as are required by applicable tax or other law. 
  
 3. Confidential Information; Return of Company Property. 
  
 a. Except as required by applicable law or legal process, Executive
will keep in strict confidence, and will not, directly or indirectly, at any time, disclose, furnish, disseminate, make available, or use any trade secrets or confidential business and technical information of the Company or its customers or
vendors, regardless of when or how Executive 
  

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 may have acquired such information. Such confidential information shall include, without limitation, the Company’s
unique selling, manufacturing, and servicing methods and business techniques, training, service, and business manuals, promotional materials, training courses, and other training and instructional materials, vendor and product information, customer
and prospective customer lists, other customer and prospective customer information, and other business information. Executive specifically acknowledges that all such confidential information, whether reduced to writing, maintained on any form of
electronic media, or maintained in Executive’s mind or memory, and whether compiled by the Company and/or Executive, derives independent economic value from not being readily known to or ascertainable by proper means by others who can obtain
economic value from its disclosure or use, that reasonable efforts have been made by the Company to maintain the secrecy of such information, that such information is the sole property of the Company and that any retention and use of such
information by Executive after the Resignation Date shall constitute a misappropriation of the Company’s trade secrets. Notwithstanding the foregoing, the Company and Executive agree that confidential information shall not include information
that is or becomes known within the industry in which the Company operates, other than as a result of a disclosure by Executive. 
  
 b. Executive agrees to return to the Company, in good condition, all tangible property of the Company in his possession, including without
limitation, the originals and all copies of any materials which contain, reflect, summarize, describe, analyze or refer or relate to any items of information listed in subparagraph 3.a of this paragraph 3. In the event that such items are not so
returned, the Company will have the right to charge Executive for all reasonable damages, costs, attorneys’ fees, and other expenses incurred in searching for, taking, removing, and/or recovering such property. 
  
 c. Executive agrees that, for a period of one (1) year from the
Resignation Date, Executive shall not, either on his own account or for any other person, firm, partnership, corporation, or other entity with which Executive is employed or associated, solicit any employee of the Company, or any entity that is a
subsidiary of, or is otherwise related to or affiliated with, the Company, to leave his or her employment. For purposes of this paragraph 3, “solicit” includes contacting or communicating with any employee of the Company, or any entity
that is a subsidiary of, or is otherwise related to or affiliated with, the Company, about leaving his or her employment, provided, however, that the term “solicit” shall not include general advertisements of employment opportunities that
are not targeted solely to employees of the Company or its subsidiaries and affiliates. 
  
 4. Release by Executive and the Company. 
  
 a. Executive for himself and his dependents, successors, assigns, heirs, executors, and administrators (and his and their legal representatives of every kind), hereby releases, dismisses, remisses, and forever
discharges the Company from any and all arbitrations, claims (including claims for attorneys’ fees), demands, damages, suits, proceedings, actions, and/or causes of action of any kind and every description, whether known or unknown, which
Executive now has or may have had for, upon, or by reason of any cause whatsoever (except that this release shall not apply to (x) the obligations of the Company arising under this Agreement and (y) Executive’s rights of indemnification by the
Company, if any, pursuant to the Company’s certificate of incorporation or by-laws or any agreement between the Company and Executive), against the Company (“claims”), including, but not limited to: 
  

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 (i) any and all claims, directly or indirectly, arising out of or relating to: (A)
Executive’s past employment or service with the Company; (B) Executive’s resignation as Chief Financial Officer of the Company and any other position described in paragraph 1 of this Agreement; and (C) any federal, state, or local laws, or
any contract or tort claim, whether legal or equitable, whether statutory or common law, arising from or relating to the Company’s hiring of Executive, Executive’s employment with the Company, and the cessation of Executive’s
employment with the Company; 
  
 (ii) any and all
claims of discrimination, including, but not limited to, claims of discrimination on the basis of sex, race, age, national origin, marital status, religion, or disability, including, specifically, but without limiting the generality of the
foregoing, any claims under Title VII of the Civil Rights Act, as amended, 42 U.S.C. § 2000e, et seq.; the Americans with Disabilities Act, 42 U.S.C. § 12101 et seq.; the Age Discrimination in Employment Act, 29 U.S.C.
§621, et seq.; the Older Workers’ Benefit Protection Act, 29 U.S.C. §626(f); the Family and Medical Leave Act, 29 U.S.C. §§ 2601 et seq.; the Employee Retirement and Income Security Act, 29 U.S.C. § 1001
et seq.; and the Minnesota Human Rights Act, § 363.01 et seq. 
  
 (iii) any and all claims of wrongful or unjust discharge or breach of any contract or promise, express or implied; and 
  
 (iv) any and all claims under or relating to any and all
past and future employee compensation, employee benefit, employee severance, or employee incentive bonus plans and arrangements, all of which Executive agrees are forfeited upon his resignation; provided that he shall remain entitled to the amounts
and benefits described in paragraph 2 above. 
  
 b. The
Company, for itself and its shareholders, directors, officers, employees, agents, subsidiaries, and affiliates (and the heirs, successors, and assigns of each), hereby releases, dismisses, remises, and forever discharges Executive from any and all
arbitrations, claims (including claims for attorneys’ fees), demands, damages, suits, proceedings, actions, and/or causes of action of any kind and every description, whether known or unknown, which the Company now has or may have had for,
upon, or by reason of any cause whatsoever (except that this release shall not apply to the obligations of Executive arising under this Agreement). 
  
 c. Executive understands and acknowledges that the Company does not admit any violation of law, liability, or invasion of any of his rights and
that any such violation, liability, or invasion is expressly denied. The consideration provided under this Agreement is in exchange for Executive’s agreements to its terms and conditions and made for the purpose of settling and extinguishing
all claims and rights (and every other similar or dissimilar matter) that Executive ever had or now may have or ever will have against the Company to the extent provided in this paragraph 4. Executive further agrees and acknowledges that no
representations, promises, or inducements have been made by the Company other than as appear in this Agreement. 
  

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 d. Executive further understands and acknowledges that: 
  
 (i) Executive has been informed that the terms of this
Agreement shall be open for acceptance and execution by him for a period of twenty-one (21) days during which time he may consider whether to accept this Agreement. Executive agrees that changes to this Agreement, whether material or immaterial,
will not restart this acceptance period. No payments or benefits will be provided pursuant to paragraph 2 until at least sixteen (16) days after Executive has returned this signed Agreement to the Company; 
  
 (ii) Executive has been informed of his right to rescind
this Agreement as far as it extends to potential claims under the Minnesota Human Rights Act, § 363.01 et seq., by written notice to the Company within fifteen (15) calendar days following his execution of this Agreement. To be
effective, such written notice must be delivered either by hand or by mail to Patricia A. Beithon, Apogee Enterprises, Inc., 7900 Xerxes Avenue South, Suite 1800, Minneapolis, MN 55431-1159, within the fifteen (15)-day period. If a notice of
rescission is delivered by mail, it must be: 1) postmarked within the fifteen (15)-day period; 2) properly addressed to Ms. Beithon, as set forth above; and 3) sent by certified mail, return receipt requested; 
  
 (iii) Executive has been informed of his right to revoke
this Agreement as far as it extends to potential claims under the Age Discrimination in Employment Act, 29 U.S.C.§ 621 et seq., by informing the Company, through Ms. Beithon at the above referenced address, of his intent to revoke this
Agreement within seven (7) calendar days following his execution of this Agreement; 
  
 (iv) It is understood that, in the event a notice of rescission and/or revocation by Executive is timely delivered, pursuant to the terms
of subparagraph 4.d of this paragraph 4, the Company may, at its discretion, either enforce the remaining provisions of this Agreement, or void the entire Agreement and require any payments made and/or benefits conferred as of that date to Executive
be immediately repaid by Executive to the Company; and 
  
 (v) Executive has been advised by the Company to consult with legal counsel prior to executing this Agreement and the release provided for in this paragraph 4, has had an opportunity to consult with and to be advised by legal counsel of his
choice, fully understands the terms of this Agreement, and enters into this Agreement freely, voluntarily, and intending to be bound. 
  
 e. Executive will never file a lawsuit asserting any claim that is released in this paragraph 4. To the extent required by law, the release of
claims provided in this paragraph 4 shall not be interpreted to prevent Executive from filing a charge or cooperating with an appropriate governmental agency; however, Executive agrees that he is waiving the right to monetary damages or other
individual legal or equitable relief awarded by any governmental agency related to any claim that Executive ever had or now may have or ever will have against the Company to the extent provided in this paragraph 4. 
  
 f. Executive and the Company acknowledge that his resignation is by
mutual agreement between the Company and Executive, and that Executive waives and releases any claim that he has or may have to reemployment. 
  

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 g. For purposes of the above provisions of this paragraph 4, the “Company” shall include
its present and former predecessors, subsidiaries, divisions, related or affiliated companies, officers, directors, stockholders, members, employees, heirs, successors, assigns, representatives, agents, accountants and counsel. 
  
 5. Executive’s Actions with Respect to the Company’s Common
Stock. 
  
 a. Executive shall take no action with
respect to the Company’s common stock that is in violation of the federal securities laws. 
  
 6. Breach. 
  
 a. If Executive materially breaches any of the provisions of this Agreement (and in the case of a breach that is capable of being cured, fails to
cure such breach within fifteen (15) days after written notice by the Company to Executive specifying the circumstances that constitute such material breach), then the Company may, at its sole option, immediately terminate all remaining payments and
benefits described in this Agreement, and obtain payment from Executive of all other damages and expenses resulting from such breach (including, without limitation, reasonable attorneys’ fees), with the remainder of this Agreement, and all
promises and covenants herein, remaining in full force and effect. 
  
 Notwithstanding the foregoing, the Company will not terminate pursuant to subparagraph 6.a of this paragraph 6 any benefits to which Executive is entitled under any tax-qualified retirement plan of the Company, and Executive’s rights
under Part 6 of Subtitle B of Title I of the Employee Retirement Income Security Act of 1974, as amended, if any, will not be reduced by any action taken by the Company under subparagraph 6.a of this paragraph 6. 
  
 b. Executive may challenge any Company action under subparagraph 6.a
above. 
  
 7. Successors and Binding Agreement.

  
 a. This Agreement shall be binding upon and inure
to the benefit of the Company and any successor of or to the Company, including, without limitation, any persons acquiring, directly or indirectly, all or substantially all of the business and/or assets of the Company whether by purchase, merger,
consolidation, reorganization, or otherwise (and such successor shall thereafter be deemed included in the definition of “the Company” for purposes of this Agreement), but shall not otherwise be assignable or delegable by the Company.

  
 b. This Agreement shall inure to the benefit of and be
enforceable by Executive’s personal or legal representatives, executors, administrators, successors, heirs, distributees, and/or legatees. 
  
 c. This Agreement is personal in nature and none of the parties hereto shall, without the consent of the other parties, assign, transfer, or
delegate this Agreement or any rights or obligations hereunder except as expressly provided in subparagraphs a and b of this paragraph 7. 
  

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 d. This Agreement is intended to be for the exclusive benefit of the parties hereto, and, except
as provided in subparagraphs a and b of this paragraph 7, no third party shall have any rights hereunder. 
  
 8. Statements to Third Parties. Because the purpose of this Agreement is to settle amicably any and all potential disputes or claims among
the parties, neither Executive nor the Senior Executives of the Company shall, directly or indirectly, make or cause to be made any statements to any third parties criticizing or disparaging the other or commenting on the character or business
reputation of the other. Furthermore, Executive agrees not to make any derogatory, unfavorable, negative or disparaging statements concerning the Company and its affiliates, officers, directors, managers, employees, or agents, or its and their
business affairs or performance. Executive further hereby agrees not: (a) to comment to others concerning the status, plans, or prospects of the business of the Company, or (b) to engage in any act or omission that could reasonably be expected to be
detrimental, financially or otherwise, to the Company, or that would subject the Company to public disrespect, scandal, or ridicule. For purposes of this paragraph 8, the “Senior Executives of the Company” shall mean the Company’s
directors and officers. 
  
 9. Notices. For all
purposes of this Agreement, all communications provided for herein shall be in writing and shall be deemed to have been duly given when delivered, addressed to the Company at its principal executive offices and to Executive at his principal
residence, or to such other address as any party may have furnished to the other in writing and in accordance herewith. Notices of change of address shall be effective only upon receipt. 
  
 10. Miscellaneous. No provision of this Agreement may be modified, waived, or discharged unless such
modification, waiver, or discharge is agreed to in writing signed by Executive and the Company. No waiver by either party hereto at any time of any breach by the other party hereto or noncompliance with any condition or provision of this Agreement
to be performed by such other party shall be deemed a waiver of similar provisions or conditions at the same or at any prior or subsequent time. No agreements or representations, oral or otherwise, expressed or implied, with respect to the subject
matter hereof have been made by any of the parties that are not set forth expressly in this Agreement and every one of them (if, in fact, there have been any) is hereby terminated without liability or any other legal effect whatsoever. 

 
 11. Entire Agreement. This Agreement shall constitute the
entire agreement among the parties hereto with respect to the subject matter hereof and shall supersede all prior verbal or written agreements, covenants, communications, understandings, commitments, representations or warranties, whether oral or
written, by any party hereto or any of its representatives pertaining to such subject matter. 
  
 12. Governing Law. Any dispute, controversy, or claim of whatever nature arising out of or relating to this Agreement or breach thereof shall be governed by and under the laws of the State of Minnesota.
The parties agree that any and all disputes, controversies, or claims of whatever nature arising out of or relating to this Agreement or breach thereof shall be resolved by a court of general jurisdiction in the State of Minnesota, and the parties
hereby consent to the exclusive jurisdiction of such court in any action or proceeding arising under or brought to challenge, enforce, or interpret any of the terms of this Agreement. 
  

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 13. Validity. The invalidity or unenforceability of any provision of this Agreement shall
not affect the validity or enforceability of any other provision of this Agreement, which shall nevertheless remain in full force and effect. 
  
 14. Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original, but all of
which together shall constitute one and the same Agreement. 
  
 15. Captions and Paragraph Headings. Captions and paragraph headings used herein are for convenience and are not part of this Agreement and shall not be used in construing it. 
  
 16. Further Assurances. Each party hereto shall execute such
additional documents, and do such additional things, as may reasonably be requested by the other party to effectuate the purposes and provisions of this Agreement. 
  
 IN WITNESS WHEREOF, the parties have executed and delivered this Agreement as of the date first set forth above.

  

							
	 	 	 	 	COMPANY:
			
	 	 	 	 	APOGEE ENTERPRISES, INC.
				
	 	 	 	 	By:	 	 /s/ Russell Huffer

	 	 	 	 	 	 	Russell Huffer
	 	 	 	 	Its:	 	Chairman, Chief Executive Officer, and President
			
	 	 	 	 	Date: July 19, 2005
			
	 	 	 	 	 EXECUTIVE:

			
	Witness:	 	 /s/ Anne R. Marchido

	 	 /s/ William F. Marchido

	 	 	 	 	William F. Marchido
			
	Date:	 	July 20, 2005	 	Date: July 20, 2005

  

 8Fourth Amendment to Purchase Agreement

 Exhibit 10.1 
  

					
	7961 Shaffer Parkway • Suite 5 • Littleton, CO USA 80127	  	

	 	Telephone: (720) 981-1185 • Facsimile: (720) 981-1186

  
 July 18, 2005

  
 Mr. Willie McLucas 
     Chairman 
 Luzon Minerals Ltd. 
 9th Floor, 555 Burrard Street

 Box 273, Two Bentall Centre 
 Vancouver, British Columbia V7X
1M8 
  
 Dear Willie: 
  
 Purchase and Sale of Amayapampa Gold Project 
 - Fourth Amendment to Purchase Agreement 
  
 Further to our agreement dated December 11, 2003, as amended by our agreements dated May 28, 2004, July 29, 2004 and January 19, 2005 (collectively, the
“Agreement”), which sets out our agreement on the terms on which Vista Gold Corp. (“Vista”) has agreed to sell to Luzon Minerals Ltd. (“Luzon”), and Luzon has agreed to purchase, Vista’s
interest in the Amayapampa Gold Project, this letter confirms our agreement to further amend the terms of the Agreement in the manner described below. All capitalised terms used and not otherwise defined herein have the meanings ascribed to those
terms in the Agreement. 
  
 Subject to the approval of the TSX Venture Exchange
with respect to matters relating to Luzon (such approval to be applied for and obtained within the time periods described below), we hereby agree to amend the Agreement as follows: 
  

	1.	Paragraph 1(a) of the Agreement is hereby deleted and replaced with the following: 

  

	 	“(a)	The aggregate purchase price will be comprised of U.S.$2,700,000, either 3,250,000 or 4,250,000 common shares in the capital of Luzon (“Common Shares”), and
1,000,000 common share purchase warrants (with the terms described below), and will be payable as follows:” 

  

	2.	Subparagraph 1(a)(iii) of the Agreement is hereby amended to delete sub-subparagraph (C) and the three sentences following sub-subparagraph (C), and replace those provisions with
the following: 

  

	 	“(iii)	(C) within five days of receiving approval of the TSX Venture Exchange, Luzon will issue to Vista 3,000,000 Common Shares and 1,000,000 warrants, each warrant entitling the holder
to acquire one Common Share at an exercise price of CDN $0.20 for a period of three years from the date of issuance, and (D) on the earlier of December 31, 2005 or the date of the closing of the next debt, equity or other financing completed by
Luzon after July 15, 2005, Luzon will pay to Vista U.S.$100,000 in cash.” 

 3. Subparagraph 1(a)(iv) of the Agreement is hereby deleted and replaced with the following subparagraphs 1(a)(iv) and
(v): 
  

	 	“(iv)	Within five days of the date that is the earlier of (A) December 1, 2006 or (B) the date that Luzon completes obtains financing sufficient to commence construction at the Amayapampa
Project, Luzon will pay to Vista U.S.$2,500,000. Any unpaid cash portion of such payment will accrue interest at LIBOR plus 2% per month. 

  

	 	(v)	In the event that Luzon completes a feasibility study or technical report for the Amayapampa Project that discloses recovered gold of more than 400,000 ounces, Luzon shall issue to
Vista an additional 1,000,000 Common Shares.” 

  

	4.	Paragraph 1(b) of the Agreement is hereby deleted and replaced with the following: 

  

	 	“(b)	If Luzon completes its acquisition of the Amayapampa Project, Luzon will grant Vista a net smelter return royalty as follows: (i) on the first 440,000 ounces of gold, a 4.5% net
smelter return royalty where gold is at less than U.S.$450 per ounce and a 5.5% net smelter return royalty where gold is at U.S.$450 per ounce or more, and (ii) thereafter, a 1.0% net smelter return royalty.” 

  

	5.	Subparagraph 1(d) of the Agreement is hereby amended to delete sub-subparagraph 1(d)(ii) in its entirety and to renumber sub-subparagraph 1(d)(iii) accordingly.

  

	6.	Paragraph 1 of the Agreement is hereby amended to add the following as new subparagraph 1(e) immediately following the existing subparagraph 1(d): 

  

	 	“(e)	Effective from July 29, 2004, Luzon will be responsible for and will pay all costs associated with holding and maintaining the Amayapampa Project. If notwithstanding such obligation
Vista pays or otherwise funds the payment of any such costs, Luzon will as soon as possible and in any event by no later than December 31, 2005 pay to Vista the full amount of such costs plus interest at the rate of 1% per month. Luzon acknowledges
and agrees that as at June 30, 2005 Vista had paid such costs in the amount of approximately U.S.$51,000.” 

  

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 Luzon hereby agrees to use all commercially reasonable efforts to apply for and obtain the approval of the TSX Venture
Exchange with respect to all matters relating to Luzon referred to in this letter (including but not limited to the issuance of the 3,000,000 Common Shares and 1,000,000 warrants referred to in section 2 of this letter) as soon as possible after the
date of this letter and in any event, agrees to file a written application for such approval with the TSX Venture Exchange, and to provide Vista with a copy of such application, within five business days of the date of this letter. Unless otherwise
agreed by Vista in its sole discretion, Vista’s agreement to amend the Agreement as outlined in this letter is conditional upon Luzon obtaining the written approval of the TSX Venture Exchange with respect to all matters relating to Luzon
referred to in this letter or otherwise in the Agreement, by no later than August 2, 2005. 
  

			
	Yours truly,
	
	VISTA GOLD CORP.
		
	By:	 	 /s/ Michael B. Richings

	 	 	Michael B. Richings,
	 	 	President and CEO
	
	Agreed to and accepted as of this 18th day
of July, 2005
	
	LUZON MINERALS LTD.
		
	By:	 	 /s/ Willie McLucas

	 	 	Authorized Signatory
	Name:	 	Willie McLucas
	Title:	 	Chairman

  

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