Document:

ex_10-1.htm

    
      

      

    

    EXHIBIT
10.1

     

     

    
      CONSULTING
AGREEMENT

      
      

      

      THIS
AGREEMENT made as of April 1st,
2009.

      

      BETWEEN

      

      MINERA FARELLON LTDA. (the
"Consultant")

      Baldomero
Lillo 3260

      Vallenar,
Huasco

      III
Region, Chile

       

      Email:
kevinmitchell@entelchile.net

      

      AND

      

      MINERA POLYMET LTDA. (the "Client")

      Claudio
Arrau 3277

      Vallenar,
huasco

      III
Region, Chile

      

      Email:
polymetltda@gmail.com

      

      WHEREAS:

      

      
        	
                 
      

              	
                A.

              	
                The
      Client is in the business of resource exploration and
      development.

              

      

      

      
        	
                 
      

              	
                B.

              	
                The
      Consultant and its personnel have certain knowledge and expertise in the
      area of the Client’s business.

              

      

      

      
        	
                 
      

              	
                C.

              	
                The
      Client and the Consultant have agreed that the personnel of the Consultant
      are available to provide consulting services to the Client as independent
      contractors and not as employees, from time to time as required by the
      Client and on the terms and conditions
below.

              

      

      

      In
consideration of the foregoing and of the following mutual promises, the parties
agree as follows:

      

      
        	
                 
      

              	
                1.

              	
                Engagement

              

      

       

      The
Consultant will provide consulting services to the Client In accordance with the
terms and conditions of this Agreement (the "Services").

      
        
           

        

        
          1

          
            

          

        

        
           

        

      

      
        	
                 
      

              	
                2.

              	
                Term

              

      

       

      The term
of this Agreement will be from the date stated above until and including
December 31, 2009, unless terminated according to any of the provisions listed
in section 3.  The parties may extend the term of this agreement by
written agreement at least 60 days prior to the termination date of this
agreement.

      

      
        	
                 
      

              	
                3.

              	
                Termination

              

      

       

      
        	
                 
      

              	
                (a)

              	
                The
      parties may terminate this agreement at any time by mutual
      consent.

              

      

      

      
        	
                 
      

              	
                (b)

              	
                The
      Client may terminate this agreement immediately if the
      Consultant  (or any of its personnel) fails
  to:

              

      

      

      
        	
                 
      

              	
                (i)

              	
                abide
      by all policies of the Client, which the Client has delivered to the
      Consultant in writing;

              

      

      

      
        	
                 
      

              	
                (ii)

              	
                comply
      with Client’s reasonable instructions, where written notification of
      failure to comply with instructions has been given to the Consultant and
      the failure is not remedied by the Consultant (or its personnel) within a
      reasonable period of time after receiving written notice of the failure,
      or

              

      

      

      
        	
                 
      

              	
                (iii)

              	
                abide
      by all government policies, instruments, regulations, laws and legislation
      applicable to its business including, but not limited to, health and
      safety, labour, environmental, natural resource, mining and securities
      laws.

              

      

      

      
        	
                 
      

              	
                4.

              	
                Compensation
      And Reimbursement

              

      

      

      
        	
                 
      

              	
                (a)

              	
                The
      Client will pay the Consultant for the Services according to the rates
      listed in Schedule
      B (the “Fees”). Any Fees not listed in Schedule B will be approved on a
      project by project basis.

              

      

      

      
        	
                 
      

              	
                (b)

              	
                The
      Client will have the option of supplying the equipment or accommodation
      set out in Schedule B and the Client will
      not be charged any Fees in respect of equipment or accommodation which may
      be supplied by the Client.

              

      

      

      
        	
                 
      

              	
                (c)

              	
                The
      Consultant will submit invoices to the Client for the Fees from time to
      time and the Client will pay the balance within 30 days of such invoices
      being submitted.  The Client will notify the Consultant within
      21 days if the
      Client disputes any invoice.

              

      

      

      
        	
                 
      

              	
                (d)

              	
                The
      Client will reimburse the Consultant for any approved, out-of-pocket
      expenses that the Consultant incurs on behalf of the
    Client.

              

      

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

      
        	
                 
      

              	
                (e)

              	
                All
      fees and payments included in this agreement will be in Chilean
      Pesos.

              

      

      

      
        	
                 
      

              	
                5.

              	
                The
      Services

              

      

      

      
        	
                 
      

              	
                (a)

              	
                During
      the term of this Agreement, the Consultant agrees to provide the Services
      to the Client, including providing the employees and/or contractors set
      out in Schedule A
      to perform the Services when required by the
  Client.

              

      

      

      
        	
                 
      

              	
                (b)

              	
                The
      Consultant will ensure that all Services are provided by the employees
      and/or contractors as specified in Schedule A and, in particular,
      that Kevin Mitchell will devote his time and attention to providing the
      Services as is necessary for the business and affairs of the Client and as
      set out in Schedule A. The Consultant will
      use only the employees and/or contractors specified in Schedule A for the Services and
      will notify the Client of any change in
  personnel.

              

      

      

      
        	
                 
      

              	
                (c)

              	
                The
      Consultant will provide its services and the services of Kevin Mitchell
      exclusively to the Client unless the Client consents in writing to their
      providing their services to
another.

              

      

      

      
        	
                 
      

              	
                6.

              	
                Covenants
      of the Consultant

              

      

      

      
        	
                 
      

              	
                (a)

              	
                The
      Consultant will faithfully serve and use its best efforts to promote the
      interests of the Client and will not use any information it may acquire
      with respect to the business and affairs of the Client or its affiliates
      for its own purposes or for any purposes other than those of the Client or
      its affiliates.

              

      

      

      
        	
                 
      

              	
                (b)

              	
                The
      Consultant will not disclose to anyone any confidential information with
      respect to the business or affairs of the Client except as may be
      necessary or desirable to further the business interests of the Client.
      This obligation survives the expiry or termination of this
      Agreement.  “Confidential Information” includes all data and
      information that ought to be considered confidential from its nature and
      includes information that may originate from the Consultant, the Client or
      a third party, whether or not in written form or designated as
      confidential.  Confidential Information includes, without
      limitation, information relating to the current or proposed business plans
      of the Client, financial information, geological information, real estate
      information, and personnel information.  Confidential
      Information does not include information that is available to the public
      or in the public domain (meaning readily accessible to the public in
      written publications without breach of this or similar agreements) at the
      time of disclosure or use, without breach of this
      Agreement.  Confidential Information also does not include
      information which is required to be disclosed by any law, regulation,
      governmental authority or court, provided that before disclosure
      is made, notice of the requirement is provided to the
      Client.

              

      

      
        
           

        

        
          3

          
            

          

        

        
           

        

      

      
      

      
        	
                 
      

              	
                (c)

              	
                The
      Consultant agrees that all Confidential Information in the possession of
      the Consultant or any of its personnel is the property of the Client, and
      that all such Confidential information and all copies in any medium will,
      whenever requested by the Client, be surrendered to the Client or
      destroyed by the Consultant.

              

      

      

      
        	
                 
      

              	
                (d)

              	
                The
      Consultant agrees to act in accordance with any policy of the Client,
      which the Consultant acknowledges having received, with all reasonable
      instructions relating to the Services by the senior officers or board of
      directors of the Client, and with all government policies, instruments,
      regulations and laws applicable to the Client and its
      business.

              

      

      

      
        	
                 
      

              	
                (e)

              	
                The
      Consultant agrees that project generation services will be for the Client
      exclusively and the Consultant will not offer any property or project to
      any other person or entity unless the Client consents in
      writing.

              

      

      

      
        	
                 
      

              	
                7.

              	
                Covenants
      of the Client

              

      

       

      The
Client will abide by all legislation applicable to its business, including but
not limited to health and safety, labour, environmental, and natural resource
laws.

      

      
        	
                 
      

              	
                8.

              	
                Disclosure
      Consent

              

      

       

      The
Consultant acknowledges and consents to the disclosure of the personal
information of its personnel providing the Services by the Client as required by
law, and confirms that it has advised the personnel of such potential disclosure
and has obtained their consent to such disclosure.

      

      
        	
                 
      

              	
                9.

              	
                Applicable
      Law

              

      

       

      This
Agreement will be construed, interpreted and enforced in accordance with, and
the respective rights and obligations of the parties will be governed by, the
laws of the Chile, and each party irrevocably and unconditionally submits to the
non-exclusive jurisdiction of the courts of Chile.

      

      
        	
                 
      

              	
                10.

              	
                Execution

              

      

       

      The
parties may execute this Agreement in counterparts and deliver them and any
notices under it to each by fax or email, with the same effect as if both
parties had signed and delivered the same document; and all counterparts, when
executed and delivered, constitute one original document.

      
        
           

        

        
          4

          
            

          

        

        
           

        

      

      
        	
                 
      

              	
                11.

              	
                Time
      Is Of The Essence

              

      

       

      
        	
                 
      

              	
                Time
      is of the essence of this
Agreement.

              

      

      

      
        	
                 
      

              	
                12.

              	
                Notice

              

      

       

      All
notices required under this Agreement will be in writing, and sent by fax or
email or hand delivery.  A notice sent by fax or email will be deemed
to have been received on the business day after it is sent.  A notice
sent by hand delivery will be deemed to have been received on the date of actual
delivery to the applicable address, either to the individual named or to an
individual with apparent authority to accept deliveries.  Notices of
change of address will also be governed by this section.  The address
for service of the respective parties is as shown on page 1.

      

      
        	
                 
      

              	
                13.

              	
                Miscellaneous

              

      

      

      
        	
                 
      

              	
                (a)

              	
                This
      Agreement may only be amended or modified in writing signed by signing
      authorities of both the Client and the
  Consultant.

              

      

      

      
        	
                 
      

              	
                (b)

              	
                This
      Agreement constitutes the entire agreement between the
      parties.

              

      

      

      
        	
                 
      

              	
                (c)

              	
                Each
      provision of this agreement constitutes a separate and distinct covenant
      and can be severable from all other such separate and distinct covenants
      contained in this agreement. Any provision of this agreement which is
      prohibited or unenforceable in any jurisdiction will be ineffective to the
      extent of such prohibition or unenforceability and will be severed from
      the balance of this agreement, all without affecting the remaining
      provisions of this agreement or affecting the validity or enforceability
      of such provision in any other
jurisdiction

              

      

      

      As
evidence of their agreement to the foregoing terms and conditions, the parties
hereto have executed this Agreement as of the day written above by the hands of
their duly authorized officers.

       

       

      MINERA
POLYMET LTDA.

      

      
        
          	 	 	 	 	 
	
                  Per
      /s/ Kevin Mitchell

                	 	 	
                   

                	 
	
                  Kevin
      Mitchell

                	 	 	
                   

                	 

        

      

      
 

      MINERA
FARELLON LTDA.

      
        

        
          
            	 	 	 	 	 
	
                    Per
      /s/ Kevin Mitchell

                  	 	 	
                     

                  	 
	
                    Kevin
      Mitchell

                  	 	 	
                     

                  	 

          

        

        
 

      

      Kevin Mitchell personally
agrees to provide his services exclusively to Client, whether through Consultant
or otherwise, as described in the foregoing agreement.

       

      
        
          
            	 	 	 	 	 
	
                    Per
      /s/ Kevin Mitchell

                  	 	 	
                     

                  	 
	
                    Kevin
      Mitchell

                  	 	 	
                     

                  	 

          

        

        

          
            
               

            

            
              5

              
                

              

            

            
               

            

          

        

      

       

      SCHEDULE
A – SERVICES

      

      
        	
                Kevin
      Mitchell

              	
                Project
      Generation, Logistics and Administration

              	
                As
      required

              
	
                Amelia
      Mansur

              	
                Administration,
      Logistics

              	
                As
      required

              
	
                Javier
      Cortes

              	
                Accounting

              	
                As
      required

              
	
                Labour

              	
                Miscellaneous
      Casual Labour

              	
                As
      required

              
	
                Furnished
      Field House & Office

              	
                Rent,
      Utilities, Phone/Internet/Cable, Housekeeping

              	 
      
	
                Core
      Yard

              	
                Rent,
      Utilities

              	 
      
	
                Ford
      Ranger 4x4 Truck - Grey

              	
                Rental,
      Registration, Licensing, Insurance, maintenance

              	 
      

      

      

      

      SCHEDULE
B – PROFESSIONAL AND OTHER FEES

      

      
        	
                Service
      Item

              	
                Unit
      Description

              	
                Cost per
      Unit

              
	
                Professional
      Fees

              	 
      	 
      
	
                Project
      Generation and admin

              	
                per
      month

              	
                $1.800.000

              
	
                Other
      Fees

              	 
      	 
      
	
                Field
      House & Office

              	
                per
      month

              	
                $550.000

              
	
                Ford
      Ranger 4x4 Truck – Grey

              	
                per
      month

              	
                $550.000

              
	
                Ford
      Ranger 4x4 Truck – Grey

              	
                per
      month

              	
                $550.000

              

      

       

       

       

      6ex_10-2.htm

    
      

      

    

    EXHIBIT
10.2

     

     

    
      Amendment
No. 2

      

      To

      

      Option to
Purchase Contract for Mining Property

      From
Minera Farellón Limitada

      To Minera
Polymet Limitada

      Dated
October 10, 2008

      

      Signed in
Vallenar on April 7, 2009

      

      

      As of
April 7, 2009, for valuable consideration, the parties agree to
amend:

      

      
        	
                1.

              	
                Article
      II: (3) Option Term: to change the date “April 10, 2009” to “October 10,
      2009”,

              

      

       

      
        	
                2.

              	
                Article
      IV: Transfer of Royalty: to change the date “April 10, 2009” to October
      10. 2009”, and

              

      

       

      
        	
                3.

              	
                Article
      VII: Payment of the sale price: to change the date “April 10, 2009” to
      “October 10, 2009”.

              

      

      

      All other
terms and conditions of the option to purchase are unchanged except as they must
be changed to accommodate these changes.

       

      

      /s/
Kevin Robert Mitchell

      Kevin
Robert Mitchell

      CIE 14
498 917-1

      Representing
Minera
Farellón Limitada

      RUT 76
814 170-3

       

      /s/
Kevin Robert Mitchell

      Kevin
Robert Mitchell

      CIE 14
498 917-1

      Representing
Minera
Polymet Limitada

      RUT
76 975 260-9

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