Document:

Exhibit 10.2

 

Amending
Agreement to

”The
Mining Services Agreement”

 

 

THIS
AMENDING AGREEMENT is made and entered in the City of Mazatlan, Sinaloa as of this, the Fifteenth (15th) Day of September,
2006.

 

 

AMONG:

 

 

DYNARESOURCE
DE MEXICO, S.A. DE C.V. herein represented by Mr. KOY WILBER DIEPHOLZ, acting in his capacity of President of its Board of Directors
holding General Powers of Attorney for Legal Representation and Collections, Acts of Administration and Domain (hereinafter referred
to as the “Company”),

 

OF
THE FIRST PART,

 

AND

 

MINERAS
DE DYNARESOURCE, S. A. DE C.V., herein represented by Mr. KOY WILBER DIEPHOLZ, acting in his capacity of President of its Board
of Directors holding General Powers of Attorney for Legal Representation and Collections, Acts of Administration and Domain (hereinafter
referred to as the “Mining and Production Services Contractor” / “Contractor”);

 

 

WHEREAS:

 

	I.		      The Company and the Contractor
jointly warrant and represent as follows:

 

		A.	Their
                                         legal representative appearing herein in their behalf possesses the legal capacity required
                                         for this act.

 

		B.	A
                                         Mining Services and Production of Minerals Agreement (the “Mining Services Agreement”)
                                         was executed on May 15, 2005, to be effective at May 1, 2005, whereby the Company engaged
                                         the Contractor to render the Mining Services described in Schedule A of the Mining Services
                                         Agreement, on payment of the Compensation set out in Schedule B thereto; a copy of the
                                         Mining Services Agreement is attached as Schedule A hereto. 

 

		C.	As
                                         the mining activities currently carried out by the Contractor in SJG are primarily of
                                         an exploration nature and not milling of ore (which was the basis for setting out the
                                         Compensation described in Schedule B of the Mining Services Agreement), the parties wish
                                         to modify Schedule B of the Mining Services Agreement in accordance with the terms and
                                         conditions set forth hereunder. 

 

 

CLAUSES

 

CLAUSE
1

 

		1.1.	The
                                         parties agree that Schedule B of the Mining Services Agreement reads as follows:

 

 

“SCHEDULE
B

 

“COMPENSATION”

 

BASE
FOR TONNAGE.

 

$
75 / TON; Reported as MATERIAL processed through the Mill. Tonnage reported from the Mine for Ore NOT Processed through the MILL
is NOT to be included in this BASE Tonnage Calculation. 

 

While
the Mining Contractor’s services include many areas of work that do NOT directly contribute to the Material processed through
the Mill; the Base Compensation is Paid ONLY for the Tonnage Processed through the Mill. // This Base amount is calculated so
as to include compensation for other areas of service.

 

BONUS
FOR PRODUCTION: 

 

The
Company shall pay a Bonus to the Mining Contractor, this at the Completion of a Campaign, periodically, or at the end of the Term
as decided by the Company. The bonus is Calculated on a percentage of Sales Received by the Company; so in any event, the bonus
Compensation for any period can NOT be calculated until such Sales are received. The bonus Compensation is as follows:

 

	For Average Grade	 Percentage of Sales Receipts	 
	of Concentrate Produced:  	 to be Paid to Mining Contractor:	 
	(as Confirmed by ERSA Assays)  	 (as received by Company from Purchaser)	 
	 	 	 

 

	05.00 g/t. - 07.74 g/t.: 	 	0.00 %	 
	 	 	 	 
	07.75 g/t. - 11.60 g/t.:	 	10.0 %	 
	 	 	 	 
	11.61 g/t. - 15.50 g/t.:	 	20.0 %	 
	 	 	 	 
	15.51 g/t. - 19.40 g/t.:	 	30.0 %	 
	 	 	 	 
	19.41 g/t. - 23.30 g/t.: 	 	35.0 %	 
	 	 	 	 
	23.31 g/t. - 27.20 g/t.: 	 	40.0 %	 
	 	 	 	 
	27.21 g/t. - 31.10 g/t.:	 	45.0 %	 
	 	 	 	 
	31.11 g/t. - 34.90 g/t.: 	 	50.0 %	 
	 	 	 	 
	34.91 g/t. - 38.80 g/t.:	 	55.0 %	 
	 	 	 	 
	38.81 g/t. - 42.75 g/t.: 	 	60.0 %	 
	 	 	 	 
	42.76 g/t. - and Up.:  	 	60.0 %”	 

 

 

CLAUSE
2

 

	2.1.		      The parties covenant and agree
to amend Schedule B of the Mining Services Agreement to hereinafter read as follows:

 

 

“SCHEDULE
B

 

“COMPENSATION”

 

The
Company shall pay to the Contractor, in consideration for the execution of the Mining Services set out in Schedule A hereto, a
Management Fee equal to 2.5% of the total amount invoiced by the Contractor to the Company for expenditures incurred in relation
to the mining activities carried out in SJG and the execution of the Mining Services.”

 

2.2.        The
amendments to Schedule B of the Mining Services Agreement agreed upon by the parties hereunder shall form integral part of the
Mining Services Agreement from the date hereof and they shall be binding upon the parties hereto. The parties hereby fully ratify
each and all of the terms and provisions of the Mining Services Agreement, which includes the amendments made hereto.

 

CLAUSE
3

 

3.1.         Languages.-
The parties sign and approve this Amending Agreement in the English and Spanish languages. The parties agree that in the event
of discrepancy between the two versions, the Spanish version shall prevail. The English version is attached as schedule B hereto
and made part hereof for all corresponding legal effects.

 

3.2.         Whole
Agreement.- The Mining Services Agreement and attachments, this Amending Agreement and attachments, and the documents delivered
by the parties as therein set forth, constitute the entire understanding of the parties in respect to the subject matter thereof.

 

In
witness whereof, the parties hereto after having read and understood the legal effects and validity of the premises set forth
above, have caused this Agreement to be executed on the date and place above written.

 

 

THE
“COMPANY”

DYNARESOURCE
DE MEXICO , S. A. DE C.V.

 

 

_________________________

 

KOY
WILBER DIEPHOLZ

ITS:
PRESIDENT

 

 

THE
“CONTRACTOR”

MINERAS
DE DYNARESOURCE, S. A. DE C.V.

 

 

_________________________

 

KOY
WILBER DIEPHOLZ

ITS:
PRESIDENTExhibit
10.3 

 

SECOND
AMENDMENT TO THE CONTRACT MINING SERVICES AND MINERAL

PRODUCTION
AGREEMENT

 

 

THIS
SECOND AMENDMENT TO THE CONTRACT MINING SERVICES AND MINERAL PRODUCTION AGREEMENT, is made and entered this 15th
day of July, 2011 by and among DYNARESOURCE DE MEXICO, S.A. DE C.V., represented hereto by Mr. Koy Wilber Diepholz (hereinafter
referred to as “DYNA”); and MINERAS DE DYNARESOURCE, S.A. DE C.V., represented hereto by Mr. Koy Wilber
Diepholz (hereinafter referred to as “MINERAS”).

 

 

 

WITNESSETH:

 

 

 

WHEREAS,
DYNA and MINERAS entered into an agreement dated as of April 15, 2005 and FIRST amended on September 15, 2006; pursuant to
which DYNA engaged MINERAS to render the Mining Services described in Schedule A of the Mining Services Agreement, as amended
by the First Amendment to said agreement as described herein, where the parties established the manner in which MINERAS were to
exclusively operate and conduct the Subject Business (Mining Services, Milling services, Maintenance Services, Geology Services,
Engineering Services, Transportation / Trucking Services, Administrative Services, Management of Personnel, Support, as well as
other related services, hereinafter referred to as “the services”);

 

 

WHEREAS,
with the knowledge of all Shareholders of DYNA; MINERAS has been and is to be held as the exclusive entity entitled to exploit
the Mine and provide the inherent services,

 

 

WHEREAS,
as per the services to be rendered, DYNA deems certain terms of the original Agreement to be extensive, thus the need to amend
certain items of said Agreement.

 

WHEREAS,
as per the resolutions adopted by the Board of Directors of DYNA as described hereinafter, DYNA has discussed with MINERAS
the adoption of said items within the Agreement; and

 

 

WHEREAS,
the parties desire to amend the Contract Mining Services and Mineral Production Agreement in the manner hereinafter set forth.

 

 

NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, and in consideration
of the mutual promises contained herein, the parties agree as follows:

 

		1.	Defined
                                         Terms. Except as expressly provided herein, all the terms used herein shall have
                                         the respective meanings set forth in the original CONTRACT MINING SERVICES
                                         AND MINERAL PRODUCTION AGREEMENT and its First Amendment.

 

		2.	Definitions
                                         contained under Part 1, section 1.3 of the Agreement, is hereby amended to read as follows:
                                         

 

 

“1.3.
Subject to the provisions of part 10 hereof, this Agreement shall be in full force and effect for a period of 20 (twenty) years,
commencing as of the date hereof and until its conclusion, unless validly terminated or extended by mutual consent of the parties.”

 

 

		3.	The
                                         parties hereby agree to abrogate, annul and, inherently, suppress and exclude “PART
                                         3. INDEMNITY”, including sub numeral 4.1, subparagraphs (a), (b), (c), (d),
                                         inclusive; and sub numeral 4.2, subparagraphs (a), (b), (c), (d), (e), (f), inclusive
                                         and respectively, from the original CONTRACT MINING SERVICES AND MINERAL PRODUCTION
                                         AGREEMENT.

 

		4.	The
                                         parties hereby agree to abrogate, annul and, inherently, suppress and exclude, exclusively,
                                         sub numeral “10.2”, related to PART 10. SUBCONTRACTS from the
                                         original CONTRACT MINING SERVICES AND MINERAL PRODUCTION AGREEMENT.

 

		5.	The
                                         parties hereby agree to abrogate, annul and, inherently, suppress and exclude, exclusively,
                                         sub numeral “13.1”, related to PART 13. GENERAL PROVISIONS
                                         from the original CONTRACT MINING SERVICES AND MINERAL PRODUCTION AGREEMENT.

 

		6.	The
                                         parties recognize, concur and attest to sub numeral “13.3”, related
                                         to PART 13. GENERAL PROVISIONS of the original CONTRACT MINING SERVICES
                                         AND MINERAL PRODUCTION AGREEMENT, to read as follows:

 

“13.3.
The parties hereby covenant and agree that this contract shall be construed by and regulated under the provisions of the Code
of Commerce and the Civil code of the State of Sinaloa, Mexico. The parties hereby agree that the state and federal tribunals
with competent jurisdiction for the City of Mazatlan, State of Sinaloa, United Mexican States, shall have the authority to resolve
any suit or claim arising out of or resulting for the application of this Contract. The parties hereby relinquish their right
to the jurisdiction of any tribunal or court, of any kind or nature, to which they might have or acquire a right or be subject
to by virtue of their current or future domiciles.”

6.01.Therefore,
the parties hereby agree to amend the wording and structure of the aforementioned sub numeral “13.3”, related
to PART 13. GENERAL PROVISIONS of the original CONTRACT MINING SERVICES AND MINERAL PRODUCTION AGREEMENT,
to hereinafter read as follows:

 

“13.3.
Jurisdiction; Service of Process. Each of the parties hereto hereby irrevocably and unconditionally consents to submit to the
exclusive jurisdiction of the courts of the City of Mazatlan, in the State of Sinaloa, Mexico, for any Actions arising out of
or relating to this Agreement, (and agree not to commence any action, suit or proceeding relating thereto except in such courts).
Each of the parties hereto hereby irrevocably and unconditionally waives any objection to the laying of venue of any Action arising
out of this Agreement, in the courts of the City of Mazatlan, in the State of Sinaloa, Mexico, and to the norms set forth by the
Commerce Code and Civil Code of such venue, and hereby further irrevocably and unconditionally waive and agree not to plead or
claim in any such court that any such Action brought in any such court has been brought in an inconvenient forum.”

 

		7.	The
                                         Parties hereby expressly accept and adopt in its terms; resolutions seventh and ninth
                                         of the Board of Directors Meeting of DYNA RESOURCES DE MEXICO, S.A. DE C.V., dated July
                                         6th, 2011, therefore, hereinafter, said resolutions will constitute part of this THIRD
                                         Amendment as if represented herein and to the effects related thereto. Thus beginning
                                         on the date of closing of this THIRD Amendment, payment of the 2.5% Service Fee will
                                         be suspended, effective, retroactively, as of July 1st, 2011, therefore from then on
                                         after MINERAS DE DYNARESOURCE, S.A. DE C.V. will receive a monthly gross fee of US $20,000.00
                                         (Twenty Thousand Dollars US CY) or its equivalent in Mexican pesos at the time of payment,
                                         independent of other payments established under the original CONTRACT MINING
                                         SERVICES AND MINERAL PRODUCTION AGREEMENT.

 

 

		8.	MISCELLANEOUS
                                         PROVISIONS

 

 

8.01
Notices. All notices, consents, waivers and other communications under this Agreement must be in writing and will be deemed
to have been duly given when (a) delivered by hand (with written confirmation of receipt), (b) sent by telecopier (with
written confirmation of receipt), provided that a copy is mailed by registered mail, return receipt requested, or (c) when
received by the addressee, if sent by a nationally recognized overnight delivery service (receipt requested), in each case to
the appropriate addresses set forth below:

 

If
to the DYNA: 

 

Sierra
Grande #134

Fraccionamiento
Lomas de Mazatlán

Mazatlán,
Sinaloa, México 82110

52-669-983-6625
/ 52-669-986-1306

 

Attention:
Mr. Koy Wilber Diepholz

If
to MINERAS:

 

Enrique
Dunant Y 5 de Mayo

#
963 L- 3

Fraccionamiento
Los Parques

Guamuchil,
Sinaloa México 81400

52-673-732-9325
/ 52-673-734-0920

 

		Attention:	Mr.
                                         Koy Wilber Diepholz

 

 

8.02
Jurisdiction; Service of Process. Each of the parties hereto hereby irrevocably and unconditionally consents to submit to
the exclusive jurisdiction of the courts of City of Mazatlan, in the State of Sinaloa, Mexico, for any Actions arising out of
or relating to this Agreement, (and agree not to commence any action, suit or proceeding relating thereto except in such courts).
Each of the parties hereto hereby irrevocably and unconditionally waives any objection to the laying of venue of any Action arising
out of this Agreement, in the courts of the City of Mazatlan, in the State of Sinaloa, Mexico, and to the norms set forth by the
Commerce Code and Civil Code of such venue, and hereby further irrevocably and unconditionally waive and agree not to plead or
claim in any such court that any such Action brought in any such court has been brought in an inconvenient forum.”

 

 

8.03
Governing Law. This Agreement will be construed in accordance with and governed by the laws of Mexico, specifically, the Commerce
and Civil Codes of the State of Sinaloa, Mexico, without regard to conflicts of laws principles thereof.

 

 

8.04
Waiver. The rights and remedies of the parties to the original Agreement are cumulative and not alternative. Neither the failure
nor any delay by any party in exercising any right, power or privilege under said Agreement will operate as a waiver of any right,
power or privilege under this Amendment, and no single or partial exercise of any right, power or privilege under this Amendment
will preclude any other or further exercise of such right, power or privilege or the exercise of any other right, power or privilege
under this Amendment or its original Agreement from it derives thereto. To the maximum extent permitted by Law, (a) no claim
or right arising out of this Amendment and/or its original Agreement can be discharged by one party, in whole or in part, by a
waiver or renunciation of the claim or right unless in writing signed by the other party; (b) no waiver that may be given
by a party will be applicable except in the specific instance for which it is given and will not operate as a waiver of, or estoppel
with respect to, any subsequent or other failure or noncompliance; and (c) no notice to or demand on one party will be deemed
to be a waiver of any obligation of such party or of the right of the party giving such notice or demand to take further action
without notice or demand as provided in this Amendment or its original Agreement from which it derives.

 

 

8.05
Entire Amendment and Modification. This Amendment constitutes a complete and exclusive statement of the terms of the original
agreement to be modified between the parties with respect to the subject matter contained herein, and supersedes all prior amendments
of the original agreement between the parties with respect to the items defined and modified hereto and thereto.

 

 

8.06
No Oral Modification. This Amendment may not be amended except by a written agreement executed by the parties to be charged
with the amendment. Any attempted amendment in violation of this Section 8.06 will be void ab initio.

 

 

8.07Severability.
If any provision of this Amendment and/or in regards to the original Agreement is held invalid or unenforceable by any court of
competent jurisdiction, the other provisions of this Amendment will remain in full force and effect. Any provision of this Amendment
held invalid or unenforceable only in part or degree will remain in full force and effect to the extent not held invalid or unenforceable.

 

 

8.08
Counterparts. This Amendment may be executed simultaneously in two or more counterparts, each of which will be deemed to be
an original copy of this Amendment and all of which together will be deemed to constitute one and the same agreement.

 

 

 

IN
WITNESS WHEREOF, this SECOND Amendment to the CONTRACT MINING SERVICES AND MINERAL PRODUCTION AGREEMENT, has been duly
executed and delivered by the duly authorized officers of DYNA and MINERAS as of the date first written above.

 

	DynaResource
                                         de México, S.A. de C.V.

         
	Mineras
    de DynaResource, S.A. de C.V. 
	By:__________________________

    Name: Mr. Koy Wilber Diepholz

    Legal Representative:	By:__________________________

    Name: Mr. Koy Wilber Diepholz

    Legal Representative:

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