Document:

EXHIBIT 10.3

                          Preliminary Option Agreement

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EXHIBIT 10.3

                          Preliminary Option Agreement

This Agreement is entered into on November 9, 2004 by and between:

Leung Yuet Mei, a citizen of China (Hong Kong) with an address at Flat 1362, Tai
On Building, 57-87 Shaukiwan Road, Hong Kong.
Fax (852) 5242 0544

Leung Chi Ming, a citizen of China (Hong Kong) with an address at Flat C3, 5/F.,
Lucky Court, Mai Wo Ferry Pier Road, Lantau, Hong Kong.
Fax (852) 5242 0544

Chen Yulin, a citizen of China with an address at Room 2014, Block 2, No. 41 Xi
Zhi Men Jiao Dai Dong Road, Beijing City, People's Republic of China.
Fax (86 10) 6202 8274

(collectively called "ABC")

Highland Mining Inc., a British Virgin Islands company with offices at TrustNet
Chambers, Road Town, Tortola, British Virgin Islands.
Fax (852) 5242 0544

(herein called "BVI Co")

Tibet Tianyuan Minerals Exploration Ltd., a wholly foreign-owned enterprise
incorporated and existing under the laws of the People's Republic of China with
a registered address at 13F, Foreign Economic and Trade Tower, 75 Jin Zhu West
Road, Lhasa, Tibet, People's Republic of China.
Fax (86 891) 6868 708

(herein called "Tianyuan")

Continental Minerals Corporation, a British Columbia company with offices at
Suite 1020 - 800 West Pender Street, Vancouver, British Columbia, Canada,
V6C 2V6.
Fax: (604) 684-8092

(herein called "Continental")

Hunter Dickinson Inc., a British Columbia company with offices at Suite 1020 -
800 West Pender Street, Vancouver, British Columbia, V6C 2V6, Canada.
Fax: (604) 684 - 8092

(herein called "HDI")

Wang Zhi, a citizen of the United States of America with an address at Apt. 116,
2205 BridgePointe Parkway, San Mateo, CA 94404, United States of America.
Fax (86 10) 6202 8274

(herein called "WZ")

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WHEREAS  Tianyuan  has the rights to explore the mineral  property  known as the
Xietongmen  Copper  Property  (the  "Property"),  which is  located  near  Xiong
Village,  Xietongmen County, Rikaze area, Tibet Autonomous Region ("Tibet"), the
People's Republic of China ("PRC") and more  particularly  described in Schedule
A.

WHEREAS  Tianyuan  is the 100%  subsidiary  of BVI Co, and the  Selling  Parties
(defined below) have agreed to grant Continental with an option to acquire:

        (i)    50% of the shares of BVI Co, through  payment of  USD2,000,000 to
               ABC  and  the  investment  of  USD5,000,000  in  BVI  Co to  fund
               exploration of the Property;

        (ii)   a further  10% of the shares of BVI,  through the  investment  of
               USD3,000,000 in BVI Co to fund exploration of the Property.

NOW THEREFORE  THIS AGREEMENT  WITNESSETH  THAT for valuable  consideration  the
receipt and sufficiency of which is hereby  acknowledged,  the Parties do hereby
mutually covenant and agree as follows:

1.       Definitions

"BVI Co Shareholders Agreement" shall have the meaning provided in Section 2.3.

"BVI Co Share Option Agreement" shall have the meaning provided in Section 2.3.

"Completion Notice" means the written notice issued by Continental in accordance
with Section 2.2.

"CTVH" means China NetTV Holdings Inc., a Delaware corporation with an office at
Suite 830-789 West Pender Street, Vancouver, B.C., Canada, V6C 1H2.

"Exploration Permit" means the exploration permit issued from time to time by
the relevant authorities evidencing the Exploration Rights. A copy of the
currently valid Exploration Permit is attached as Schedule B.

"Exploration Rights" means all of the exploration rights in relation to the
Property.

"MOLAR" means the Ministry of Land and Resources of the PRC.

"Selling Parties" means collectively BVI Co, ABC and Tianyuan, and "Selling
Party" means one of them as the context requires.

"Signature Date" means the date on which this Agreement has been signed by all
Parties to it.

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2.       Nature of Cooperation

2.1       Selling  Parties  hereby grant to Continental  the exclusive  right to
          participate  in the  cooperative  exploration  and  development of the
          Property on the terms and conditions of this Agreement.

2.2       Continental shall be permitted the opportunity to carry out a full due
          diligence  study on BVI Co,  Tianyuan,  the Property,  the Exploration
          Rights,  the Exploration  Permit and associated data.  Selling Parties
          shall carry out all other necessary  actions and provide all necessary
          documents and  information as  Continental  and its legal advisors may
          request in order to complete such study,  including but not limited to
          the  documents  described  in  Schedule  C. As they  receive the same,
          Continental or its legal advisors shall issue a confirmation letter to
          the Selling Parties to confirm the receipt of the documents  listed in
          Schedule C. Upon completing  such study and becoming  satisfied in its
          sole discretion that, among other things,  the Selling Parties are not
          in breach of their  representations  and warranties under Section 4.1,
          Continental will issue the Completion  Notice to Selling  Parties.  If
          not so satisfied,  Continental  may issue the notice  contemplated  in
          Section 7.1.  Continental will issue a Completion Notice or the notice
          contemplated  in  Section  7.1 no  later  than  forty-five  (45)  days
          following the Signature  Date,  failing which any Party may, by notice
          to the other  Parties and without  prejudice to any Party's  rights to
          claim against other Parties for breaches  prior to the  termination of
          the Agreement, elect to terminate this Agreement.

2.3       ABC and BVI Co shall  grant to  Continental  options  to  respectively
          purchase and subscribe for shares in BVI Co on the terms  described in
          Schedule  D. The terms of such  options  shall be set forth in a share
          option  agreement  (the "BVI Co Share Option  Agreement")  in form and
          substance  satisfactory  to  Continental.  Such  BVI Co  Share  Option
          Agreement shall include as a schedule a form of shareholders agreement
          (the  "BVI  Co   Shareholders   Agreement")   that  shall  govern  the
          relationship  between the parties  thereto as  shareholders  of BVI Co
          upon  Continental's  exercise of at least one of such  options,  which
          shall include the provisions  described in Schedule E. ABC, BVI Co and
          Continental  shall commence good faith  negotiations  of the BVI Share
          Option Agreement and the BVI Shareholders Agreement promptly following
          the  Signature  Date and shall  sign  such  agreements  no later  than
          seventy-five (75) days following the Signature Date, failing which any
          Party may, by notice to the other Parties and without prejudice to any
          Party's  rights to claim against  other Parties for breaches  prior to
          the termination of the Agreement, elect to terminate this Agreement.

2.4       To secure its performance hereunder,  ABC shall promptly following the
          Signature Date pledge to Continental shares in BVI Co representing 50%
          of the issued and outstanding  share capital of BVI Co. ABC shall also
          cause CTVH to pledge to  Continental  shares in BVI Co  representing a
          further 10% of the issued and outstanding share capital of BVI Co, and
          from time to time to pledge  such  further  shares of BVI Co as may be
          necessary so Continental  continues to hold under the pledge from CTVH
          10%  of  the  issued  and   outstanding   share  capital  of  BVI  Co.
          Continental's   rights   under  such  pledge  shall   terminate   upon
          termination of this Agreement in accordance with Section 2.2 or 2.3.

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3.        Other Obligations of Selling Parties

3.1       Upon signing of this Agreement, provided that Continental performs its
          obligations  under  this  Agreement,  Selling  Parties  shall  do  the
          following:

         (i)   provide  Continental  with all data generated of both a technical
               and non-technical manner applicable to the Property;

         (ii)  duly pay any fees  and  charges  (including  but not  limited  to
               exploration right use fee and mineral resources  compensation) in
               connection with the Exploration Rights and the Exploration Permit
               to keep  them in good  standing  at least  until  the  Completion
               Notice is issued;

         (iii) carry out all filings and do all other acts necessary to maintain
               the validity of the Exploration Permit;

         (iv)  not transfer,  sell, lease or mortgage the Exploration Rights, or
               otherwise deal in them or encumber them;

         (v)   cause all existing exploration,  mining, excavating,  exploiting,
               extracting,  refining and processing activities and operations in
               the areas in  connection  with the  Property  or the  Exploration
               Rights conducted by any Selling Party or by any third party to be
               suspended;

         (vi)  assist  Continental  in  Continental's  purchasing and leasing of
               equipment, machinery, tools, vehicles and other materials, and if
               applicable, in carrying out all import and customs formalities in
               respect thereto;

         (vii) assist  Continental's  personnel in obtaining necessary visas and
               invitation  letters and  certifications  required for  processing
               other necessary  travel  documents in order to gain access to the
               Property;

         (viii)not  transfer,  sell,  lease,  mortgage or otherwise  deal in any
               assets of BVI Co and or  Tianyuan,  including  but not limited to
               the equity  interest in  Tianyuan  owned by BVI Co nor create any
               liability or obligation of those companies without  Continental's
               written consent; and

         (ix)  not carry out any actions that may impair or dilute Continental's
               legal or beneficial interest in BVI Co or Tianyuan, including but
               not  limited  to  issuance  or  transfer  of any  shares or other
               instruments, documents or securities of BVI Co or the increase of
               registered  capital  of  Tianyuan  or the  transfer  of the  same
               (provided that the issuance of shares by BVI Co to Continental as
               contemplated  in  Section  2.3  and  Schedule  D,  as well as the
               transaction   between  ABC  and  CTVH  on  the  terms  previously
               disclosed to Continental in writing, shall not represent a breach
               of this provision).

3.2       Provided  that  Continental   performs  its  obligations   under  this
          Agreement,  WZ shall actively assist Continental and Tianyuan to apply
          for and maintain the approvals,  registrations,  licenses, permits and
          other government  authorizations and support necessary or desirable in

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          order for Tianyuan to undertake the exploration and development of the
          Property and for Continental to participate in those activities on the
          basis contemplated under this Agreement. WZ will be a signatory to the
          BVI Co Shareholders Agreement and the BVI Co Share Option Agreement in
          order that he have the above  mentioned  responsibilities  under those
          agreements.

4.        Representations and Warranties

4.1       Selling Parties hereby jointly and severally  represent and warrant to
          Continental that:

        (i)    Each of BVI Co and Tianyuan is a company duly organized,  validly
               existing and in good standing under the laws of the  jurisdiction
               of its incorporation;

        (ii)   Each Selling  Party has full power and  authority to carry on its
               business and to enter into this  Agreement  and any  agreement or
               instrument referred to or contemplated by this Agreement;

        (iii)  Neither the execution and delivery of this Agreement,  nor any of
               the agreements referred to herein or contemplated hereby, nor the
               consummation of the  transactions  hereby  contemplated  conflict
               with,  result in the  breach  of or  accelerate  the  performance
               required by, any agreement to which any Selling Party is a party;

        (iv)   The execution and delivery of this  Agreement and the  agreements
               contemplated  hereby by each  Selling  Party will not  violate or
               result in the breach of the laws of any  jurisdiction  applicable
               or  pertaining  to such Selling Party or (where the Selling Party
               is a body corporate) of its constating documents;

        (v)    This Agreement  constitutes a legal, valid and binding obligation
               of each of Selling Parties;

        (vi)   There are no options, warrants or any other rights to acquire any
               authorised  (issued or  unissued)  share  capital in BVI Co other
               than  the  options  in  favour  of  Continental  contemplated  in
               Schedule D as well as CTVH's  right to  acquire  shares in BVI Co
               from ABC under the terms of the transaction  between ABC and CTVH
               previously disclosed to Continental in writing;

        (vii)  All returns, registrations,  filings and other documents required
               to be  delivered by Selling  Parties to the  relevant  government
               authorities have been properly prepared and delivered;

        (viii) None  of  the  Selling  Parties  has  breached  any  law  of  the
               jurisdiction where it is incorporated or has citizenship,  as the
               case may be;

        (ix)   No order has been made,  petition  presented or resolution passed
               for the  winding-up or bankruptcy of any Selling Party or for the
               appointment of a provisional  liquidator to any Selling Party and
               no  administration  order has been made in respect of any Selling
               Party;

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        (x)    No receiver or receiver  and manager has been  appointed  for the
               whole or part of any Selling Party's business or assets;

        (xi)   There  is  not  and  has  not  been  any  governmental  or  other
               investigation,  enquiry or disciplinary proceeding concerning any
               Selling  Party  and none is  pending  or  threatened.  No fact or
               circumstance  exists  which might give rise to an  investigation,
               enquiry or proceeding of that type;

        (xii)  No  civil,   criminal,   arbitration,   administrative  or  other
               proceeding  is pending or  threatened  by or against  any Selling
               Party or a person for whose acts or defaults  any  Selling  Party
               may be vicariously liable;

        (xiii) No fact or  circumstance  exists that might give rise to a civil,
               criminal,   arbitration,   administrative   or  other  proceeding
               involving  any  Selling  Party  or a  person  for  whose  acts or
               defaults any of Selling Party may be vicariously liable;

        (xiv)  There is no outstanding judgment,  order, decree,  arbitral award
               or  decision of a court,  tribunal,  arbitrator  or  governmental
               agency  against any  Selling  Party or a person for whose acts or
               defaults any Selling Party may be vicariously liable;

        (xv)   Tianyuan  has  lawfully  obtained  the  Exploration  Rights,  the
               Exploration  Permit  and the  mineral  data and other  geological
               information related to the Property,  and the Exploration Rights,
               the  Exploration   Permit,   and  such  mineral  data  and  other
               geological  information  are not  subject  to any  dispute or any
               third party claim or interest. The Exploration Permit constitutes
               the only exploration permit issued over the Property and the only
               exploration permit currently issued to Tianyuan;

        (xvi)  None of the Exploration  Rights,  the  Exploration  Permit or the
               mineral  data or  other  geological  information  related  to the
               Property  are  subject  to any title  dispute  with,  or lease or
               mortgage to, any third party;

        (xvii) All fees and charges  (including  but not limited to  exploration
               right use fee and mineral  resources  compensation) in connection
               with the Exploration  Rights and the Exploration Permit have been
               duly paid;

        (xviii)All filings necessary to maintain the validity of the Exploration
               Permit have been duly made;

        (xix)  All  obligations  of the  permit  holder  contemplated  under the
               Exploration Permit have been duly performed;

        (xx)   All  existing  exploration,   mining,   excavating,   exploiting,
               extracting,  refining and processing activities and operations in
               the areas in  connection  with the  Property  or the  Exploration
               Rights  conducted by any Selling Party or by any third party have
               been suspended;

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        (xxi)  All mineral  data and other  geological  information  any Selling
               Party  provides to  Continental  are  complete,  true,  accurate,
               legally owned or controlled by the Selling  Parties,  and are not
               subject to any third party claim or any restriction;

        (xxii) Tianyuan has paid in full all  consideration  due and owing by it
               in connection with Tianyuan's purchase of the Exploration Rights,
               and such  consideration  including all monetary amounts and other
               consideration does not exceed US$2,000,000;

        (xxiii)BVI Co has paid in full all  consideration due and owing by it in
               connection  with  BVI  Co's  purchase  of 100% of the  registered
               capital  of  Tianyuan  and is not  subject  to any debts or other
               claims by the founding  shareholders of Tianyuan or third parties
               in connection with such purchase;

        (xxiv) Tianyuan  has  not   conducted   any  business  or  incurred  any
               obligations  or  liabilities  since the  issuance of its business
               license; provided that acquisition by Tianyuan of the Exploration
               Rights shall not  represent a breach of this  representation  and
               warranty;

        (xxv)  BVI Co has not conducted any business or incurred any obligations
               or  liabilities  since the date of its  incorporation  other than
               purchasing  100% of the  registered  capital of Tianyuan from the
               founding shareholders of Tianyuan;

        (xxvi) ABC collectively legally hold and beneficially own all issued and
               outstanding share capital of BVI Co, clear of all liens,  charges
               or encumbrances, and with a par value of USD1 per share, and such
               share capital has been duly authorized,  validly issued and fully
               paid;

        (xxvii)BVI Co owns all the  registered  capital  of  Tianyuan,  free and
               clear of all  liens,  charges  or  encumbrances  and  have  fully
               contributed to Tianyuan such registered capital;

        (xxviii)There are no options  or any other  rights to  subscribed  foror
               acquire any equity interest of Tianyuan; and

        (xxix) No order has been made,  petition  presented or resolution passed
               for the  winding-up or bankruptcy of any Selling Party or for the
               appointment of a provisional  liquidator to any Selling Party and
               no  administration  order has been made in respect of any Selling
               Party.

4.2       Continental  and HDI each hereby  represents  and  warrants to Selling
          Parties that:

        (i)    it is a company  duly  organized,  validly  existing  and in good
               standing under the laws of the province of British Columbia;

        (ii)   it has full power and  authority  to carry on its business and to
               enter  into  this  Agreement  and  any  agreement  or  instrument
               referred to or contemplated by this Agreement;

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         (iii) Neither the execution and delivery of this Agreement,  nor any of
               the agreements referred to herein or contemplated hereby, nor the
               consummation of the  transactions  hereby  contemplated  conflict
               with,  result in the  breach  of or  accelerate  the  performance
               required by, any agreement to which it is a party;

        (iv)   The execution and delivery of this  Agreement and the  agreements
               contemplated  hereby  by it will not  violate  or  result  in the
               breach of the laws of any  jurisdiction  applicable or pertaining
               to it or of its constating documents; and

        (v)    This Agreement  constitutes a legal, valid and binding obligation
               of each of Continental and HDI.

4.3      The representations and warranties in this Section 4 are conditions on
         which the Parties have relied in entering into this Agreement and shall
         survive Continental's acquisition of shares of BVI Co. The Parties
         confirm for the avoidance of doubt that no Party may make a claim
         against another Party for a breach of any representation or warranty in
         this Section 4 if such breach has no adverse effect on the benefits,
         rights or interests of the Party entitled to make a claim.

5.       Confidential Information

5.1      In this Agreement, the term "Confidential Information" means: (a) any
         information, data, samples or material concerning the Party supplying
         or disclosing such information or material (the "Disclosing Party")
         including but not limited to information concerning such Party's
         business, financial condition, operations, technology, plans, research
         and development, assets or liabilities; and (b) any information or
         materials concerning any other entity or person in respect of which the
         Disclosing Party is bound by obligations of confidentiality, as the
         Disclosing Party identifies to the other party (the "Recipient") from
         time to time. Confidential Information shall not include information
         that: (a) was known by the Recipient prior to disclosure by the
         Disclosing Party; (b) is or becomes public knowledge other than through
         the Recipient's breach of this Agreement; or (c) was obtained by the
         Recipient from a third party where the Recipient was not aware that the
         third party was under an obligation of confidentiality with respect to
         such information.

5.2      Each Party that receives Confidential Information shall, during the
         term of this Agreement and for two (2) years thereafter, maintain the
         confidentiality of the Confidential Information and not disclose it to
         any person or entity, except to their respective employees who need to
         know such Confidential Information for the sole purpose of such Party
         undertaking the activities contemplated in this Agreement.

5.3      The Recipient shall, upon the request of the Disclosing Party, promptly
         either destroy or deliver to the Disclosing Party all materials, and
         all copies thereof, in the Recipient's possession or control that
         contain any of the Disclosing Party's Confidential Information.
         Delivery of such items to the Disclosing Party shall not relieve the
         Recipient of its confidentiality obligations hereunder.

5.4      The obligations under this Section 5 shall not apply to any
         Confidential Information that is required to be disclosed pursuant to

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         any statute, law, rule or regulation of any governmental authority, any
         order of any court of competent jurisdiction or any request by any
         stock exchange; however, the Recipient shall notify the Disclosing
         Party before disclosure and give the Disclosing Party reasonable
         opportunity to obtain a protective order or other form of protection.

5.5      Each Party acknowledges that monetary damages may not be a sufficient
         remedy for an unauthorized disclosure of Confidential Information and
         that in the event of such disclosure by either Party, the other Party
         shall be entitled, without waiving any other rights or remedies, to
         seek injunctive relief or similar judicial or administrative remedies.

6.       Assistance by Continental

6.1      No later than ten (10) days after the Signature Date, Continental shall
         provide ABC with the following information:

         (i)      subject to the consent of such investors, a list of ten (10)
                  principal investors who have in the past provided financing to
                  Continental in connection with the Property or are linked to
                  Continental by way of Continental being managed by HDI in
                  connection with the Property; and

         (ii)     electronic copies (or hard copies if such electronic copies
                  are not available) of the principal marketing materials
                  Continental prepared in connection with obtaining financing
                  for the Property.

6.2      During the first two years after the Completion Notice, Continental
         shall provide ABC with the following assistance in connection with
         their efforts to obtain financing in respect of the Property:

        (i)       invite ABC to attend selected (at Continental's sole
                  discretion) marketing events conducted by Continental in
                  connection with the Property and use reasonable endeavours to
                  introduce BVI Co to the investors attending such events;

        (ii)      on request by ABC, assist with the preparation and review of
                  all public announcements prepared by ABC in connection with
                  the Property prior to public dissemination; and

        (iii)     provide electronic copies (or hard copies if such electronic
                  copies are not available) of the principal marketing materials
                  that Continental displays in public in connection with
                  obtaining financing for the Property.

6.3      Nothing in this Section 6 shall make Continental responsible to secure
         funding for the ABC' interests in BVI Co, or otherwise be responsible
         for the outcome of the fundraising activities of any Selling Party, or
         to recommend an investment in those entities to any person.

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7.       Miscellaneous Provisions

7.1      Upon undertaking all or part of the due diligence contemplated in
         Section 2.2, Continental may determine that changes to the ownership
         structure of Tianyuan or of the Property are needed in order to comply
         with PRC law. If so, then Continental may no later than 60 (sixty) days
         following the Signature Date, upon notice to Selling Parties, require
         Selling Parties to negotiate in good faith and sign, no later than the
         date that is fourteen (14) days after delivery of such notice,
         amendments to this Agreement providing for such changes.

7.2      The Parties agree that if any Selling Party either becomes aware of any
         interests in any mineral properties within 10 km of the perimeter of
         the Property that may be available for purchase, or if it actually
         makes a purchase of such interests, that any such interests will first
         be offered to Tianyuan for purchase at Selling Party's cost of
         acquisition as paid or payable to a bona fide third party, with the
         decision as to whether Tianyuan should purchase the interest being at
         the sole discretion of the directors of Tianyuan. The directors of
         Tianyuan shall make a decision whether to purchase such interests
         within 20 days after Tianyuan is offered to purchase such interests. If
         the directors of Tianyuan cannot make a decision within such time
         period, Tianyuan shall be deemed to have waived the right to purchase
         such interests.

7.3      Any notice, consent, demand or request (the "Communication") required
         or permitted to be given under this Agreement shall be in writing and
         may be delivered personally or sent by facsimile or may be sent by
         courier to the relevant Party at its address first above written. Any
         Communication delivered personally or sent by facsimile shall be deemed
         to have been given and received on the second business day next
         following the date of sending. Any Communication sent by courier as
         aforesaid shall be deemed to have been given and received on the fifth
         business day following the date it is sent by courier, addressed to the
         Parties at their addresses first above written or to such other address
         or addresses as either Party may from time to time specify by notice to
         the other; provided, however, that if there shall be a slowdown or
         other labour dispute which might affect delivery of the Communication
         by courier, then the Communication shall be effective only if actually
         delivered.

7.4      If a Party breaches its obligations under this Agreement and causes
         damage to the other Parties, it shall be responsible for compensating
         the other Parties. Selling Parties and WZ shall be jointly and
         severally liable for breaches by any Selling Party of this Agreement
         and shall indemnify Continental for its full losses arising from such
         breach. HDI assumes joint and several liability for each of
         Continental's obligations under this Agreement.

7.5      This Agreement shall be effective on the Signature Date and shall be
         legally binding on the Parties until it is replaced by the BVI Co
         Shareholders Agreement and the BVI Co Share Option Agreement
         contemplated in Section 2.3. Upon signature of those Agreements by the
         parties thereto, this Agreement shall terminate.

7.6      The formation, validity, interpretation and performance of this
         Agreement, and any disputes arising under this Agreement, shall be
         governed by the laws of British Columbia.

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7.7      Any dispute, controversy or claim arising out of or relating to this
         Agreement, or the breach, termination or invalidity thereof, shall be
         settled by arbitration in accordance with the UNCITRAL Arbitration
         Rules as at present in force (the "Rules"), as amended by the following
         provisions:

        (i)       The  appointing   authority  shall  be Hong Kong International
                  Arbitration Centre (the "HKIAC").

        (ii)      The place of arbitration shall be in Hong Kong at the HKIAC.

        (iii)     There shall be only one arbitrator chosen by the Parties by
                  agreement in accordance with the Rules, provided that if they
                  do not reach agreement on the choice of a sole arbitrator,
                  then three arbitrators shall be appointed in accordance with
                  the Rules.

        (iv)      Any such arbitration shall be administered by the HKIAC in
                  accordance with the HKIAC Procedures for Arbitration in force
                  at the date of this Agreement including such additions to the
                  UNCITRAL Arbitration Rules as are therein contained.

        (v)       The language to be used in the arbitral proceedings shall be
                  English.

        (vi)      The Selling Parties as a group and Continental shall each
                  submit to the arbitrators in writing a description of the
                  facts relating to, and a requested remedy for, the dispute.
                  The arbitrators shall select between the remedy requested by
                  the Selling Parties and that requested by Continental and it
                  shall award the entire remedy selected and only that remedy.
                  In no event may the arbitrators issue an award that provides a
                  remedy less than, more than, or in any other way different
                  from the Party-requested remedy that the arbitrators have
                  selected.

         (vii)    The arbitration award shall be final and binding on the
                  Parties.

7.8      Each of the Parties shall from time to time and at all times do all
         such further acts and execute and deliver all further deeds and
         documents as shall be reasonably required in order fully to perform and
         carry out the terms of this Agreement.

7.9      Assignments by the Parties of their rights and obligations under this
         Agreement shall be governed by the following provisions:

        (i)       ABC may assign its rights and obligations under this Agreement
                  to CTVH  without consent of the other Parties.

        (ii)      Each of Continental and CTVH may assign its rights and
                  obligations under this Agreement to any of its "Affiliates"
                  (defined below) without consent of the other Parties.

        (iii)     The assignee under any assignment permitted under this Section
                  7.9 shall be liable for all the obligations and liabilities of

                                       11
<PAGE>

                  the assignor under this Agreement and as a condition of the
                  assignment must formally accede to this Agreement.

         (iv)     Except as provided in clauses (i) through (iii), no Party may
                  assign any of its rights or obligations under this Agreement
                  without the prior written consent of the other Parties.

         (v)      "Affiliate" means, in relation to a Party, any company which,
                  directly or indirectly, is controlled by, under common control
                  with, or in control of, that Party; the term "control" meaning
                  ownership of fifty percent or more of the voting stock or
                  registered capital, or the power to appoint or elect a
                  majority of the directors, of a company.

7.10     This Agreement will enure to the benefit of and be binding upon the
         Parties hereto and their respective successors and permitted assigns.

7.11     Time is of the essence in this Agreement.

7.12     For the avoidance of doubt, this Agreement is an option only in favour
         of Continental and, except as herein specifically provided, nothing
         herein contained shall be construed as obligating Continental to do any
         acts or make any payments hereunder. Unless otherwise provided in this
         Agreement, any act or acts or payment or payments as shall be made
         hereunder shall not be construed as obligating Continental to do any
         further act or make any further payment.

7.13     Selling Parties acknowledge that Continental may be required to seek
         acceptance from the TSX Venture Exchange (the "Exchange") to this
         Agreement and if as a condition of acceptance, the Exchange requires
         amendments to this Agreement, the Parties shall use their best efforts
         to negotiate an agreement satisfactory to the Exchange. In the event
         that acceptance of the Exchange is not obtained within ninety (90) days
         following the date of this Agreement, this Agreement may be terminated
         by Continental upon ten (10) days notice.

7.14     Each Party acknowledges that it will comply with all laws and regula-
         tions applicable in Tibet.

         The Parties shall make reasonable efforts to cause their employees to
         comply with the laws and regulations applicable in Tibet, and not to
         engage in any activities, or spread any information, while in Tibet
         that may reasonably be expected to adversely affect Tibet's political
         stability or national harmony or to offend Tibet's customs and
         traditions. Such efforts will include:

          (i)     Training employees on the laws and regulations applicable in,
                  and the customs and traditions of, Tibet and the standards of
                  behaviour to be maintained while working in Tibet.  ABC shall
                  assist Continental to prepare and deliver the training;

         (ii)     To the extent allowed by law, providing in all employment
                  agreements that the employer has the right to terminate the
                  employment of any employee who commits a serious breach of
                  such standards of behaviour;

                                       12
<PAGE>

         (iii)    To the extent allowed by law, terminating the employment of
                  employees who commit a serious breach of such standards of
                  behaviour, provided that the Company has received notice of
                  such breach from the public security bureau or other
                  government department with authority over the employee.

         If any Party breaches the requirements of this Section 7.14, it must
         commence to remedy the breach on receipt of notice of such breach and
         complete remedy of the breach within one year of receiving the notice
         of such breach, as well as use its reasonable endeavours to mitigate
         the damages.

7.15     This Agreement may not be amended orally, and any amendment hereto must
         be agreed to in a written instrument signed by all of the Parties.

7.16     This Agreement is signed in Chinese and English and each Party will
         hold one (1) original of each language version.  The two language
         versions shall have equal validity.

7.17     Except as otherwise expressly provided for under this Agreement,
         failure or delay on the part of any Party to exercise a right under
         this Agreement shall not operate as a waiver thereof; nor shall any
         single or partial exercise of a right preclude any other future
         exercise thereof.

7.18     This Agreement constitutes the entire agreement among the Parties and
         supersedes and replaces all previous oral or written agreements,
         memoranda, correspondence or other communications between the Parties
         relating to the subject matter hereof.

7.19     This Agreement may be executed in counterpart and by facsimile
         transmission with the same effect as if the Parties had originally
         signed the same document. All counterparts will be construed together
         and constitute one and the same agreement.

IN WITNESS WHEREOF the Parties hereto have duly executed this Agreement as of
the dates detailed below.

                                       13
<PAGE>

Leung Yuet Mei

/s/ Leung Yuet Mei
--------------------
Date:

Leung Chi Ming

/s/ Leung Chi Ming
--------------------
Date:

Chen Yulin

/s/ Chen Yulin
--------------------
Date:

Highland Mining Inc.

Per: /s/
     ----------------------------
         Authorized Signatory
Name:
Date:

TIBET TianYuan Minerals
Exploration Ltd.

Per: /s/
     ----------------------------
         Authorized Signatory
Name:
Date:

                                       14
<PAGE>

Continental Minerals
Corporation

Per: ____________________
         Authorized Signatory
Name:
Date:

Hunter Dickinson Inc.

Per: ____________________
         Authorized Signatory
Name:
Date:

Wang Zhi

/s/ Wang Zhi
--------------------
Date:

                                       15
<PAGE>

                                   Schedule A

                           Description of the Property

Xietongmen Copper Deposit
Area: 12.91 km(2); 88(degree)23  45  88(degree)26  30  E & 29(degree)21  30
29(degree)24  00  N Location: Xiong Village, Xietongmen County, Rikaze Tibet.
350 km from Lhasa.

In the below diagram, the Property is represented by the entire shaded area and
the darker area within the shaded area represents known existing workings.

[DIAGRAM OMITTED]

                                       16
<PAGE>

                                   Schedule B

                               Exploration Permit

                                       17
<PAGE>

                                   Schedule C

                            Documentary Due Diligence

1.       The documents Selling Parties shall provide to Continental in
         accordance with Section 2.2 to enable Continental to undertake its due
         diligence study shall include originals of the following documents:

         (i)    With respect to Tianyuan:

                a.      capital verification report and other documents evidenc-
                        ing that all of the registered capital has been fully
                        contributed by the founding shareholders of Tianyuan and
                        is currently held by BVI Co;

                b.      directors resolutions approving the entering into of
                        this Agreement and the performance of the obligations
                        hereunder;

         (ii)     With respect to BVI Co:

                a.      share certificate issued by BVI Co in the name of ABC;

                b.      certificate of incorporation of BVI Co;

                c.      company book of BVI Co (including but not limited to the
                        register of shareholders, the register of directors, the
                        register of charges, shareholders resolutions and the
                        board resolutions);

                d.      articles of association;

                e.      board resolutions and shareholders' resolutions approv-
                        ing the entering into this Agreement and the performance
                        of its obligations hereunder;

                f.      documents showing that ABC legally hold and beneficially
                        own all issued and outstanding share capital (all of
                        which has been duly authorized, validly issued and fully
                        paid) of BVI Co, free and clear of all liens, charges or
                        encumbrances, and with a par value of USD1 per share;

         (iii)    With respect to the Exploration Rights and the Exploration
                  Permit:

                a.      current Exploration Permit issued by the Ministry of
                        Land and Resources in the name of Tianyuan;

                b.      a legal opinion, in form and substance agreed by the
                        Parties, acceptable to Continental, issued by a
                        Qualified and reputable law firm in China, contemplating
                        that Tianyuan has legally obtained the Exploration
                        Rights, that the Exploration Permit is validly issued to
                        Tianyuan, that neither the Exploration Rights nor the
                        Exploration Permit is subject to any encumbrances or
                        third party rights, and that the Exploration Rights and
                        Exploration Permit give Tianyuan the right to conduct
                        exploration for copper and other associated minerals
                        including gold within the Property;

                                       18
<PAGE>

         (iv)     With respect to the acquisition of Tianyuan by BVI Co:

                a.      transfer agreement in relation to the acquisition of the
                        entire registered capital of Tianyuan by BVI Co;

                b.      documents submitted by the Department of Commerce of
                        Tibet to the Ministry of Commerce of the PRC ("MOFCOM")
                        requesting approval of such acquisition and the change
                        of Tianyuan from a PRC domestic limited liability
                        company to a wholly foreign-owned enterprise;

         (v)      With respect to the formal approval of the acquisition of
                  Tianyuan by BVI Co:

                a.      official reply issued by MOFCOM approving the acquisi-
                        tion of the equity interest in Tianyuan by BVI Co and
                        the change of Tianyuan from a PRC domestic limited
                        liability company to a wholly foreign-owned enterprise;

                b.      wholly foreign owned enterprise articles of association
                        of Tianyuan approved by the Department of Commerce of
                        the Tibet Autonomous Region;

                c.      Certificate of Approval for Establishment of Enterprises
                        with Foreign Investment in the PRC for Tianyuan issued
                        by the Department of Commerce of the Tibet Autonomous
                        Region;

         (vi)     Enterprise Legal Person Business License for Tianyuan issued
                  by the State Administration of Industry and Commerce of the
                  Tibet Autonomous Region evidencing that Tianyuan is a wholly
                  foreign-owned enterprise and that its scope of business
                  includes "mining, processing and sale of mineral products, and
                  investment in risk exploration for mineral resources other
                  than oil and gas in Rikaze area of Tibet"; and

         (vii)    official confirmation of the transfer of the Exploration
                  Rights to Tianyuan as a wholly foreign-owned enterprise issued
                  by MOLAR and documents evidencing that the "type of investor"
                  section of the record in relation to the Exploration Permit
                  has been changed to a wholly foreign-owned enterprise.

2.       Continental shall provide ABC with a copy of each of the following
         documents:

         (i)      Continental's certificate of incorporation and its memorandum
                  and articles, together with a document filed with the British
                  Columbia company registry showing the respective shareholdings
                  of its shareholders;

         (ii)     documents evidencing the shareholding relationship and the
                  shares entrustment relationship between HDI and Continental;
                  and

                                       19
<PAGE>

         (iii)    a legal opinion, in form and substance agreed by the Parties,
                  issued by a qualified and reputable law firm in Canada,
                  confirming that Continental has no remaining right or
                  obligation to acquire any interest in the Property under the
                  terms of the Property Option Agreement dated February 5, 2004
                  between HDI and CTVH, which was subsequently assigned by HDI
                  to Continental.

                                       20
<PAGE>

                                   Schedule D

                                     Options

The options granted by ABC and BVI Co to Continental in accordance with Section
2.3 shall include as follows:

1.       First Option

         An option, exercisable by notice to ABC within three (3) days after
         signature of the BVI Co Share Option Agreement by the parties thereto,
         for Continental to purchase from ABC such number of shares of BVI Co so
         that Continental will hold 50% of the issued share capital of BVI Co
         (the "First Option").

         The following provisions shall apply to the First Option:

         (i)    ABC shall transfer such shares to Continental within ten (10)
                days of Continental's issuance of its notice to exercise the
                First Option.

         (ii)   Continental shall:

                (a)     pay ABC USD1,200,000 within five (5) business days after
                        the completion of transfer of such shares; and

                (b)     subject to the last paragraph of this Section 1, pay ABC
                        USD800,000 within one (1) year after the completion of
                        transfer of such shares.

                  If Continental does not pay the amount provided in subclause
                  (a) in accordance with the time requirement, this Agreement,
                  the BVI Co Share Option Agreement and the BVI Co Shareholders
                  Agreement shall terminate and Continental shall promptly
                  transfer back to ABC the shares purchased pursuant to the
                  First Option and shall release ABC from the share pledge
                  granted under Section 2.3 of this Agreement.

         (iii)    Continental may, at its absolute discretion and option, from
                  time to time within twenty four (24) months after the
                  Signature Date (the "First Expenditure Period") invest up to
                  USD5,000,000 into BVI Co in order to fund exploration activi-
                  ties in relation to the Property (the "First Expenditure").
                  Irrespective of Continental's investments into BVI Co under
                  this paragraph, Continental and the then other shareholders of
                  BVI Co (as a group) shall each hold 50% of the issued share
                  capital of BVI Co during the First Expenditure Period. To that
                  end, as Continental subscribes for any share capital of BVI Co
                  in relation to the First Expenditure, the other shareholders
                  of BVI Co as a group shall also be entitled to subscribe for
                  the same amount of share capital of BVI Co at nominal consider
                  -ation so that the shareholding of the then other shareholders
                  of BVI Co (as a group) is maintained at (but does not exceed)
                  50%.

                                       21
<PAGE>

         (iv)     Subject to clause (v), Continental's investment into BVI Co as
                  contemplated in clause (iii) above shall comply with the
                  following time schedule:

                  (a) the first USD3,000,000 within 365 days after the Signature
                      Date;
                  (b) the Full USD5,000,000 within 730 days after the Signature
                      Date.

         (v)      BVI Co will invest into Tianyuan all of the funds Continental
                  invests into BVI Co as contemplated in clause (iv) above and
                  Tianyuan will use such funds in connection with the
                  exploration and development of the Property. If the
                  exploration and development work is delayed for reasons not
                  attributable to Continental, Continental may request an
                  extension of the investment time schedule set out above as
                  well as an equal extension of the expiry date of the First
                  Expenditure Period and the other Parties may not unreasonably
                  refuse such request.

         (vi)     BVI Co shall allot and issue shares to the relevant
                  shareholder within ten (10) days after that shareholder's
                  subscription for new BVI Co shares in connection with its
                  investment into BVI Co.

         (vii)    Continental shall, upon receipt of the shares under this
                  Section 1, pledge such shares to ABC. Continental shall retain
                  full beneficial ownership of the shares notwithstanding the
                  pledge.  If Continental exercises the First Option but fails
                  to fulfill any obligation under clauses (ii), (iii) or (iv)
                  above, Continental shall within three (3) days following the
                  earlier date of such failure or the date that Continental
                  provides notice to ABC that it no longer wishes to participate
                  in the Property, transfer to ABC all shares it holds in BVI Co
                  to ABC for USD1.  Continental shall sign all documents in
                  relation to such pledge at the same time that the BVI Co Share
                  Option Agreement and the BVI Co Shareholders Agreement are
                  signed by the relevant Parties.  Having transferred the shares
                  to ABC, Continental shall be responsible to invest into BVI Co
                  only such additional amounts as may be necessary to permit
                  Tianyuan to pay for costs Tianyuan has actually incurred in
                  the exploration and development of the Property prior to the
                  date of transfer of shares.  Continental shall have no liabil-
                  ity to make additional investments into BVI Co and shall not
                  otherwise be liable to the other Parties under this Agreement
                  or in relation to the Property.  A cost shall be considered
                  "actually incurred" for the purposes of this sub-clause (vii)
                  if Tianyuan has received the service or been delivered the
                  goods to which the cost relates prior to the date of transfer
                  of the shares.

         (viii)   Within three (3) days after Continental fulfils its
                  obligations under clauses (ii), (iii) and (iv) above, the
                  other BVI Co Shareholders shall release Continental from the
                  share pledge granted under clause (vi).

2.       Second Option

         A further option, exercisable by Continental after its exercise of the
         First Option by (i) one month's prior notice to the then other
         shareholders of BVI Co, where such notice is given no later than
         twenty-two (22) months following the Signature Date, or (ii) two
         months' prior notice to such shareholders, where such notice is given

                                       22
<PAGE>

         between twenty-two (22) months and twenty-four (24) months following
         the Signature Date, for Continental to subscribe at par value for such
         number of shares of BVI Co (without any change in the total number of
         shares issued to the then other shareholders of BVI Co) so that
         Continental's shareholding in BVI Co after the issuance of such shares
         will be 60% (the "Second Option").

         The following provisions shall apply to the Second Option:

         (i)    BVI Co shall allot and issue such shares to Continental within
                ten (10) days after Continental's issuance of its notice to
                exercise the Second Option and payment by Continental of the
                subscription price.

         (ii)   Continental may, at its absolute discretion and option, from
                time to time within a timeframe as determined by Continental,
                but no later than 365 days after expiry of the First Expenditure
                Period (the "Second Expenditure Period") invest into BVI Co an
                additional US$3,000,000 (less the subscription price Continental
                has paid to obtain the shares subject to the Second Option) in
                order to fund exploration activities in relation to the Property
                (the "Second Expenditure"). Irrespective of Continental's invest
                -ments into BVI Co under this paragraph, Continental shall hold
                60% of the issued share capital of BVI Co and the then share-
                holders of BVI Co (as a group) shall hold 40% of the issued
                share capital of BVI Co during the Second Expenditure Period. To
                that end, as Continental subscribes for any share capital of BVI
                Co in relation to the Second Expenditure, the other shareholders
                of BVI Co as a group shall also be entitled to subscribe for the
                same amount of share capital of BVI Co so that the shareholding
                of the then other shareholders of BVI Co (as a group) is main-
                tained at (but does not exceed) 40%.

         (iii)  If the exploration and development work is delayed for reasons
                not attributable to Continental, Continental may request an
                extension of the expiry date of the Second Expenditure Period
                and the other Parties may not unreasonably refuse such request.

         (iv)   Continental shall, upon receipt of the shares under this Section
                2, pledge such shares to then other BVI Co shareholders. Conti-
                nental shall retain full beneficial ownership of the shares not-
                withstanding the pledge. If Continental exercises the Second
                Option but does not incur the Second Expenditure in accordance
                with this Section, Continental shall within three (3) days
                following the earlier date of the expiration of the Second
                Expenditure Period or the date that Continental provides notice
                to the other shareholders that it will not complete the expendi-
                ture required in terms of the Second Option, transfer to the
                then other BVI Co shareholders the shares subscribed for in
                accordance with the Second Option for USD1.  Continental shall
                sign all documents in relation to such pledge at the same time
                that it exercises the Second Option.  Having transferred the
                shares to ABC, Continental shall be responsible to invest into
                BVI Co only such additional amounts as may be necessary to
                permit Tianyuan to pay for costs Tianyuan has actually incurred
                in the exploration and development of the Property prior to the
                date of transfer of shares.  Continental shall have no liability
                to make additional investments into BVI Co and shall not other-
                wise be liable to the other Parties.

                                       23
<PAGE>

         (v)    Within three (3) days after Continental fulfills its obligations
                under this Section 2, ABC shall release Continental from the
                share pledge granted under this Section B.2.

3.       Further Assurances

         ABC shall take all necessary and appropriate actions, including giving
         all shareholder approvals and causing directors of BVI Co designated by
         it to give their approvals, to enable the issuance of shares by BVI Co
         pursuant to any exercise of the First Option and the Second Option.

                                       24
<PAGE>

                                   Schedule E

            Terms and Conditions of the BVI Co Shareholders Agreement

As contemplated in Section 2.3, the BVI Co Shareholders Agreement between
Continental and the ABC shall include the following principal provisions as well
as such further provisions as are ordinary or customary for such agreements in
order to protect the interests of the shareholders:

 1.     Funding of the Company

        (a)       Continental having completed its investment into BVI Co in
                  connection with the First Option (or if Continental exercises
                  the Second Option then upon expiry of the Second Expenditure
                  Period), the board of directors of BVI Co may from time to
                  time by simple majority resolution determine that BVI Co
                  requires additional funding and the then shareholders of BVI
                  Co shall have first right to supply such additional funding.

        (b)       The shareholders shall agree to make either equity
                  contributions or shareholders loans to BVI Co. In the event
                  that the shareholders cannot reach agreement on the form of
                  funding, the funding will be in the form of shareholders
                  equity.

        (c)       Each shareholder may subscribe to any such increase in
                  shareholders equity capital or shareholders loans (as the case
                  may be) in proportion to their prevailing respective
                  shareholdings by notifying the board of directors no later
                  than thirty (30) days after the board resolution is passed.
                  Contribution of any increase by either shareholder shall be
                  made no later than the time stipulated by the board of
                  directors, provided that the board of directors will not
                  require that the contributions are made less than sixty (60)
                  days following the date of the board resolution requiring the
                  increase.

        (d)       If any shareholder declines to subscribe for its proportionate
                  share of any such increase, the other shareholders may
                  subscribe for that share and the proportionate shareholding
                  interest of the shareholder not subscribing will be diluted
                  proportionately, in accordance with a formula to be set out in
                  the BVI Co Shareholders Agreement. If such increase is not
                  fully subscribed for, then the board of directors may reduce
                  the amount offered and re-send the notice until any notice
                  which is sent is fully subscribed by one or more of the
                  shareholders or the board of directors may invite other
                  investors, agreed to by the shareholders of BVI Co, to
                  subscribe for such equity, subject to the new investors
                  becoming party to the BVI Co Shareholders Agreement.

2.       BVI NPI Payments

         (a)      The shareholders of BVI Co will be entitled to share in
                  dividends of BVI Co and in distribution of net proceeds upon a
                  liquidation of the assets of BVI Co according to their
                  respective shareholdings in BVI Co, provided that if the
                  shareholding in BVI Co in aggregate held by ABC falls below

                                       25
<PAGE>

                  15%, then ABC will have an option, exercisable by a single
                  written notice given by all of them to Continental, no later
                  than 30 days after their aggregated shareholding falls below
                  the aforementioned 15%, to:

                  (i)      continue to hold their shares in BVI Co, to be
                           entitled to receive their respective shares of
                           dividends of BVI Co according to their respective
                           shareholdings and to be liable to make equity
                           contributions according to their respective
                           shareholdings in accordance with Section 1 above; or

                  (ii)     return all their shareholdings in BVI Co to BVI Co
                           within ten (10) days from the date of the notice for
                           cancellation in exchange for a payment, payable
                           ninety (90) days after the financial year end of BVI
                           Co or the date that BVI Co distributes dividends to
                           its shareholders, whichever date is the later, to be
                           shared among themselves (a "BVI NPI Payment") in
                           respect of each financial year of BVI Co following
                           the date of transfer, calculated at a fixed rate of
                           12.5% of the "BVI Net Profits" (as defined below),
                           which BVI NPI Payments shall be subject to the
                           following provisions:

                           a.       subject to subclauses b. and c. below, BVI
                                    NPI Payments will not accrue or be payable
                                    to such shareholders until after Continental
                                    has recovered through its receipt of
                                    dividends from BVI Co all of its "Continen-
                                    tal BVI Excess Investment" (as defined
                                    below);

                           b.       in respect of any financial year before NPI
                                    Payments have accrued and become payable in
                                    accordance with subclause a. above, and
                                    provided that in any event that BVI Co has
                                    BVI Net Profits of no less than US$2
                                    million, such shareholders shall be entitled
                                    to a fixed interim payment of US$250,000 (to
                                    be shared among themselves);

                           c.       once BVI NPI Payments have accrued and
                                    become payable in accordance with subclause
                                    a. above, then the first US$250,000 of the
                                    BVI NPI Payments for each year shall be paid
                                    to such shareholders (to be shared among
                                    themselves), and the remaining amounts
                                    accrued, on an aggregated basis, shall be
                                    reduced by the amount of any interim
                                    payments such shareholders have received in
                                    accordance with subclause b. above until all
                                    such previously paid fixed interim amounts
                                    have been accounted for as a credit to the
                                    amounts otherwise due to the other
                                    shareholders in BVI Co.

         (b)      The term "BVI Net Profits" for a particular financial year
                  means the profits of BVI Co available for distribution in
                  respect of that year to the shareholders of BVI Co, in
                  accordance with Canadian General Accepted Accounting Practices
                  ("Canadian GAAP"), after deduction of operating expenses,
                  applicable taxes, loan repayments and other costs and

                                       26
<PAGE>

                  financial commitments as well as working capital and reserves
                  either required by law or determined to be reasonable by the
                  board of directors of BVI Co in order to provide for working
                  capital or for environmental reclamation in relation to the
                  Property.

         (c)      The term "Continental BVI Excess Investment" means all loan
                  and equity capital invested, provided and or contributed by
                  Continental to BVI Co as well as any additional investment
                  made by Continental in relation to the Property directly or
                  indirectly under the terms hereof and not otherwise accounted
                  for as part of BVI Co's loan or equity capital after the point
                  at which the shareholding of ABC falls below 15% of the total
                  shareholders equity capital, plus interest on such funds at
                  the interest rate published calculated in accordance with the
                  prime overdraft rate charged by the Bank of Montreal, Canada
                  to its corporate customers.

         (d)      The Parties will enter into a BVI Net Profits Agreement
                  concurrently with such shareholders exercising their option to
                  receive the BVI Net Profits, in a form satisfactory to
                  Continental's legal advisors.

3.       Exploration budgets

         (a)      Continental shall prepare annual exploration programs and
                  budgets ("Continental BVI Co Program") and submit them to the
                  Board for approval forty-five (45) days after the end of each
                  exploration program.

         (b)      In the event that Continental fails to submit a Continental
                  BVI Co Program in accordance with clause (a) upon expiry of
                  the First Expenditure Period (or if Continental exercises the
                  Second Option then upon expiry of the Second Expenditure
                  Period), ABC shall be entitled to submit an annual exploration
                  program and budget ("ABC BVI Co Program") for the following
                  year to the Board for approval and Continental undertakes that
                  it will approve the ABC BVI Co Program if it is in accordance
                  with sound mining and applicable industry standards and
                  practices in China.

         (c)      If Continental does not elect to fund the ABC BVI Co Program
                  or elects to fund less than USD1,000,000 or its pro rata share
                  of the ABC BVI Co Program if that is less than USD1,000,000,
                  then ABC shall be entitled to implement its proposed
                  exploration according to the ABC BVI Co Program and ABC may
                  elect to assume the operatorship, management and
                  administration of the ABC BVI Co Program.

         (d)      In the event that Continental submits a Continental BVI Co
                  Program in any period during which ABC has assumed the
                  operatorship, management and administration under an ABC BVI
                  Co Program, the operatorship, management and administration of
                  the annual exploration program and budget under the
                  Continental BVI Co Program shall revert to Continental so long
                  as Continental holds 50% or more of the shares of BVI Co.

         (e)      The provisions of (c) will apply mutatis mutandis to ABC and
                  the provisions of (d) will apply mutatis mutandis to
                  Continental if ABC's shareholding rises above 50%.

                                       27
<PAGE>

4.       Board of Directors of BVI Co

         (a)      Continental having exercised the First Option and subject to
                  clause (b) below, the following provisions will apply:

                  (i)      The board of directors of BVI Co shall consist of six
                           (6) directors. Upon signature of the BVI Co
                           Shareholders Agreement, BVI Co and the ABC shall
                           cause all but three (3) directors of BVI Co to resign
                           immediately and Continental shall be entitled to
                           appoint three (3) directors to the board of directors
                           of BVI Co;

                  (ii)     Continental shall have the right to appoint the Chair
                           -man of the board of directors of BVI Co; and

                  (iii)    BVI Co and the then shareholders of BVI Co other than
                           Continental agree not to undertake any action to
                           remove any of the Continental appointed directors
                           from the board of directors, without the prior
                           written consent of Continental, or to undertake any
                           shareholders action that may result in Continental
                           not being in control of the board of directors. The
                           other shareholders of BVI Co may request Continental
                           to remove a Continental appointed director who has
                           committed a serious breach of the standards of
                           behaviour provided for in Section 7.14, but
                           Continental shall be entitled to replace a director
                           so removed.

          (b)     In the event that Continental's shareholding in BVI Co falls
                  below 50%, each shareholder shall be entitled to appoint a
                  number of directors proportionate to their percentage interest
                  of the issued share capital of BVI Co, and the shareholder
                  holding more than 50% of the issued share capital will have
                  the right to appoint the Chairman and this clause will apply
                  to any subsequent shareholding changes where a shareholder
                  acquires an interest of more than 50% in BVI Co;

         (c)      Except for matters required by law to be dealt with by BVI Co
                  shareholders, the articles of association and by-laws of BVI
                  Co will provide that all decisions of BVI Co shall be resolved
                  by simple majority vote of the board of directors of BVI Co at
                  a duly convened meeting at which a quorum of a majority of the
                  board of directors is present.

         (d)      The Chairman of the board of directors shall have a casting
                  vote, except that if Tianyuan undertakes an ABC BVI Co Program
                  the following supplementary provisions shall apply:

                  (i)      the directors of BVI Co appointed by ABC, and not the
                           Chairman of the Board, shall have a casting vote in
                           respect of all matters relating to the ABC BVI Co
                           Program, including the issuance of shares by BVI Co
                           to fund the ABC BVI Co Program in a good workmanlike,
                           safe and efficient manner in accordance with sound
                           mining and applicable industry standards and practice
                           in China; and

                                       28
<PAGE>

                 (ii)      The Chairman of the Board shall have a casting vote
                           on all other matters, if any, excluding matters
                           relating to the ABC BVI Co Program.

5.        Right of First Refusal

         (a)      Continental shall have the right to dispose of its shares in
                  BVI Co provided that the other shareholders of BVI Co have
                  first been offered the shares on the same terms as Continental
                  proposes to accept.

         (b)      Each shareholder of BVI Co other than Continental shall each
                  have the right to dispose of its shares in BVI Co provided
                  that such shareholder has first offered Continental the shares
                  on the same terms as the shareholder that is selling proposes
                  to accept.

         (c)      The shareholder proposing to sell shall first notify in
                  writing the other shareholder or shareholders having a right
                  of purchase with details about the proposed terms of sale and
                  other shareholder shall have thirty (30) days to decided
                  whether to purchase the shares being sold on the same terms as
                  are being offered with completion to occur on the earlier of a
                  date chosen by the buying party and the date which the selling
                  party would have otherwise sold the shares. Before any
                  transfer of shares of BVI Co is effected, any purchaser of the
                  shares must agree to become a party to the BVI Co Shareholders
                  Agreement and the BVI Co Share Option Agreement.

6.       Management Organization and Personnel

         (a)      BVI Co shall have a management organization that is under the
                  leadership of the Chief Executive Officer, who shall be an
                  individual nominated by Continental and appointed by BVI Co's
                  board of directors.

                  BVI Co shall cause Tianyuan to set up a management
                  organization that is under the leadership of the General
                  Manager of Tianyuan, who shall be an individual nominated by
                  the Chief Executive Officer of BVI Co and appointed by the
                  board of directors of Tianyuan.

         (b)      Continental shall provide suitable engineering expertise,
                  charged at market related rates, as agreed in terms of the
                  annual exploration budget and program approved by the board of
                  directors, to BVI Co and Tianyuan, and BVI Co and Tianyuan
                  shall engage personnel recommended by Continental to operate
                  all the engineering programs. Continental may elect to have
                  the costs of such provision of expertise be either (i)
                  reimbursed to it by Tianyuan or (ii) credited as Continental's
                  expenditure incurred in relation to the Property in accordance
                  with Part B of this Schedule.

7.       Accounts and Audits

         (a)      BVI Co shall prepare its accounts in accordance with Canadian
                  GAAP.

         (b)      BVI Co shall engage an international firm of auditors to audit
                  its accounts and annual financial statements and to prepare an
                  audit report.

                                       29
<PAGE>

CONTINENTAL MINERALS
CORPORATION

Per: /s/ R.W. Thiessen
     -----------------------
     Authorized Signatory
Name:  R.W. Thiessen
Date:  November 9, 2004

HUNTER DICKINSON INC.

Per: /s/ Robert A. Dickinson
     -----------------------
     Authorized Signatory
Name: Robert A. Dickinson
Date: November 9, 2004

                                       30Exhibit 10.13

                             SUBSCRIPTION AGREEMENT
             Pursuant to Regulation S of the Securities Act of 1933

                              SAVOY RESOURCES CORP.

THIS SUBSCRIPTION AGREEMENT (the "Agreement") is made and entered into as of
this 16th day of August, 2004, by and between Savoy Resources Corp., a Colorado
corporation (the "Company"), with its United States offices located at 18826
Pagentry Place, Monument, Colorado 80132, and KLM Consulting of 800 - 1355 24th
Avenue, Suite 267, South Surrey, British Columbia, Canada V4A 2H9 (the
"Investor").

                                    RECITALS:

     WHEREAS, the Company is offering for sale up to 3,750,000 units
(individually, a "Unit" and, collectively, the "Units"), each Unit consisting of
one share of common stock, $0.001 par value per share (the "Common Stock"), and
one warrant exercisable to purchase one share of Common Stock at an exercise
price of $0.20 per share for a period of two years through August 15, 2006, at a
per Unit price of $0.08 in a transaction exempt from registration under the
Securities Act of 1933, as amended (the "Securities Act"), and the regulations
promulgated thereunder (the "Offering");

     NOW, THEREFORE, for and in consideration of the premises and other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:

     1.   THE SUBSCRIPTION.

     1.1 Subscription. The Investor, intending to be legally bound, hereby
irrevocably subscribes for and agrees to purchase 3,750,000 Units.

     1.2 Purchase Price. The Investor understands and acknowledges that the
purchase price for each Unit will be $0.08 and that the aggregate purchase price
for 3,750,000 Units will be $300,000.00 (the "Issue Price").

     2.   COMPANY REPRESENTATIONS AND WARRANTIES.

     The Company hereby represents and warrants to the Investor as follows:

     2.1 Organization and Good Standing. The Company is a corporation duly
organized, validly existing and in good standing under the laws of the State of
Colorado and has all requisite power and authority to execute and deliver this
Agreement and to carry out the transactions contemplated hereby. The Company has
all requisite power and authority to own, lease and operate its assets and
properties and to carry on its business as presently conducted.

     2.2 Capitalization. The authorized capital stock of the Company consists of
110,000,000 shares, of which 100,000,000 shares are Common Stock, of which
65,570,000 shares are issued and outstanding, and 10,000,000 shares are
preferred stock, of which no shares are issued and outstanding, as of August 16,
2004.

<PAGE>
     2.3 Authorization; Enforceability. The execution, delivery and performance
of this Agreement by the Company and the consummation by the Company of the
transaction contemplated hereby have been duly authorized by all necessary
corporate action of the Company, and this Agreement, when duly executed and
delivered by the Investor, will constitute a valid and legally binding agreement
of the Company enforceable in accordance with its terms, except as may be
limited by bankruptcy, insolvency, fraudulent transfer, reorganization,
moratorium and similar laws of general applicability relating to or affecting
creditors' rights and to general equity principles.

     2.4 Title to Stock. Upon payment by the Investor of the Issue Price,
acceptance by the Company of this Agreement, and delivery by the Company of the
certificate(s) representing 3,750,000 Units purchased in this Offering, the
Units will be duly and validly issued, fully paid and nonassessable.

     2.5 Absence of Violation. Neither the execution or delivery of this
Agreement by the Company nor the consummation of the transaction contemplated
hereby by the Company constitutes a violation or default under or conflicts with
any material contract, commitment, lease, instrument or agreement to which the
Company is a party or by which the Company is bound or will result in the
creation of any encumbrance on any of the assets owned by the Company under any
term or provision of the Articles of Incorporation or Bylaws of the Company.

     3.   INVESTOR REPRESENTATIONS, WARRANTIES AND AGREEMENT.

     The Investor hereby represents, warrants to and agrees with the Company as
follows:

     3.1 Standing. The Investor has the full and unrestricted legal capacity to
execute and deliver this Agreement and to carry out the transactions
contemplated hereby.

     3.2 Authorization; Enforceability. This Agreement, when duly executed and
delivered by the Company, will constitute a valid and legally binding agreement
of the Investor enforceable in accordance with its terms, except as may be
limited by bankruptcy, insolvency, fraudulent transfer, reorganization,
moratorium and similar laws of general applicability relating to or affecting
creditors' rights and to general equity principles.

     3.4 Absence of Violation. Neither the execution or delivery of this
Agreement by the Investor nor the consummation of the transaction contemplated
hereby by the Investor constitutes a violation or default under or conflicts
with, or will result in the creation of any encumbrance on any of the assets
owned by the Investor under any contract, commitment, lease, instrument or
agreement to which the Investor is a party or by which the Investor is bound.

     3.5 Receipt and Review of Certain Information. The Investor has had a
thorough and adequate opportunity to ask questions of the Company, or a person
or persons acting on its behalf, concerning the Company and the terms and
conditions of the investment described in this Agreement, and all such questions
have been answered to the full satisfaction of the Investor. The Investor also
has had the opportunity to review any documents relating to the Company that she
has requested and to otherwise conduct due diligence, and such due diligence
review has been fully satisfactory to the Investor. The Investor understands and
acknowledges that the Company cannot provide assurances with respect to any
projections or predictions as to the future business or financial performance of
the Company.

                                       2
<PAGE>
     3.6 Risk Associated with Investment in the Units. The Investor recognizes
that an investment in the Company involves a high degree of risk for an
indefinite period of time, and she has taken full cognizance of and understands
all of the risks related to the purchase of the Units.

     3.7 Not an Underwriter. The Investor is not an "underwriter'" as defined in
Section 2(a)(11) of the Securities Act, and is acquiring the Units for
investment purposes only.

     3.8 Financial Ability. The Investor has the financial ability to bear the
economic risk of his investment, including a total loss of the investment, has
adequate means for providing for current needs and personal contingencies and
has no need for liquidity with respect to his investment in the Company. The
Investor recognizes that the purchase of Units involves a high degree of risk in
that (i) an investment in the Company is highly speculative and only an investor
who can afford the loss of his entire investment should consider investing in
the Company and the Units; (ii) an investor may not be able to liquidate his
investment; (iii) transferability of the Units is expected to be extremely
limited; and (iv), in the event of a disposition, an investor could sustain the
loss of his, her or its entire investment.

     3.9 Age of Majority; Address. The Investor is at least eighteen (18) years
of age. The address set forth above is the Investor's correct home address, and
the Investor has no present intention of changing such address.

     3.10 NASD. The Investor acknowledges that if she is a registered
representative of a National Association of Securities Dealers (the "NASD'")
member firm, she must give such firm the notice required by the NASD's Rules of
Fair Practice.

     3.11 No Broker. The Investor has not retained any finder, broker, agent,
financial advisor or other intermediary in connection with the transactions
contemplated by this Agreement and agrees to indemnify and hold harmless the
Company from liability for any compensation to any such intermediary retained by
the Investor and the fees and expenses of defending against such liability or
alleged liability.

     3.12 Accuracy of Investor's Representations, Warranties and Agreements. The
representations, warranties and agreements of the Investor set forth in this
Agreement are true and accurate as of the date hereof and shall be true and
accurate as of the date of the acceptance hereof by the Company and the sale of
the Units to the Investor. If in any respect such representations, warranties
and/or agreements shall not be true and accurate at any time prior thereto, the
Investor promptly shall give written notice of such fact to the Company
specifying which representations, warranties and/or agreements are not true and
accurate and the reasons therefor. No representation or warranty of the Investor
in this Agreement contains or will contain any untrue or misleading statement or
omits or will omit any fact necessary to make the statements contained herein or
therein, in light of the circumstances under which made, not misleading.

     3.13 Regulation S. The Investor understands that the Units to be purchased
by him pursuant to this Agreement have not been registered under the Securities
Act in reliance on an exemption contained in Regulation S promulgated under the
Securities Act ("Regulation S"), and that the Company is relying upon the truth
and accuracy of the representations, warranties, agreements, acknowledgments and
understandings of the Investor set forth herein in order to determine the
applicability of such exemptions and the Investor's suitability to acquire the
Units.

                                       3
<PAGE>
     3.14 Non-U.S. Person. The Investor is not, and at the time of the
acquisition of the Units will not be, a "U.S. person" as defined in Regulation S
under the Securities Act. The Investor is not, and at the time of the
acquisition of the Units will not be, acquiring the Units for the benefit of a
"U.S. person" as defined in Regulation S under the Securities Act. Upon
consummation of the transactions contemplated by this Agreement, the Investor
will be the sole beneficial owner of the Units issued to him pursuant to this
Agreement, and the Investor has not pre-arranged any sale with any purchaser or
purchasers in the United States. For purposes of this Agreement, a "U.S.
person'" includes, without limitation, any natural person resident in the United
States, any partnership or corporation organized or incorporated under the Laws
of the United States (other than certain branches of non-U.S. banks or insurance
companies), any estate of which any executor or administrator is a U.S. person
or any trust of which any trustee is a U.S. person (with certain exceptions) and
any agency or branch of a foreign entity located in the United States, but does
not include a natural person not resident in the United States. The "United
States" means the United States of America, its territories and possessions, any
state of the United States and the District of Columbia.

     3.15 Outside the U.S. The Investor is outside the United States as of the
date of the execution and delivery of this Agreement and will be outside the
United States at the time of the purchase of the Units as contemplated by this
Agreement; provided, however, that delivery of the Units may be elected in the
United States through the Investor's agent as long as the Investor is outside
the United States at the time of such delivery.

     3.16 Limitation on Transfer. The Investor understands that the Units cannot
be offered for sale, sold or otherwise transferred unless in accordance with the
provisions of Regulation S of the Securities Act, pursuant to registration under
the Securities Act or pursuant to an available exemption from registration under
the Securities Act. The Investor has no present intention to sell or otherwise
transfer the Units except in accordance with the provisions of Regulation S of
the Securities Act, pursuant to registration under the Securities Act or
pursuant to an available exemption from registration under the Securities Act.
The Investor understands that the Company is required, under Rule 903 of
Regulation S, to refuse to register the transfer of any of the Units to be
received by the Investor pursuant to this Agreement that are not transferred
pursuant to a registration statement under the Securities Act, in compliance
with Regulation S under the Securities Act or otherwise pursuant to an available
exemption from registration.

     3.17 No Short Position. The Investor covenants that the Investor will not,
directly or indirectly, or through one or more intermediaries, maintain any
short position in the Units during the Distribution Compliance Period, as
defined in Regulation S.

     3.18 No Hedging Transactions. The Investor hereby agrees not to engage in
hedging transactions with regard to the Units unless in compliance with the
provisions of Regulation S, pursuant to registration under the Securities Act or
pursuant to an exemption from the registration requirements of the Securities
Act.

     3.19 Limitations on Resale. The Investor will resell the Units only in
accordance with the provisions of Regulation S of the Securities Act, pursuant
to registration under the Securities Act or pursuant to an available exemption
from registration under the Securities Act.

                                       4
<PAGE>
         3.20 ERISA. No part of the funds used by the Investor to acquire the
membership interests constitutes assets of any "employee benefit plan'" within
the meaning of ss.3(3) of ERISA or other "benefit plan investor'" (as defined in
U.S. Department of Labor Regulations ss.2510.3-101 et seq., as amended) or
assets allocated to any insurance company separate account or general account in
which any such employee benefit plan or benefit plan investor (or related trust)
has any interest. The foregoing representations, warranties and agreements shall
survive the Closing.

     4.   TERMINATION.

     Either of the parties hereto may terminate this Agreement if the Company
terminates the Offering or consummation thereof is prohibited by law, rule or
regulation.

     5.   INDEMNITY.

     The Investor agrees to indemnify and hold harmless the Company and the
Company's officers, directors, employees and affiliates and each other person,
if any, who controls any thereof, against any loss, liability, claim, damage and
expense whatsoever (including, but not limited to, any and all expenses
whatsoever reasonably incurred in investigating, preparing or defending against
any litigation commenced or threatened or any claim whatsoever) arising out of
or based upon any false representation or warranty or breach or failure by the
Investor to comply with any covenant or agreement made by the Investor in this
Agreement or in any other document furnished by the Investor to any of the
foregoing in connection with the transactions contemplated hereunder.

     6.   MISCELLANEOUS.

     6.1 Notices. All notices, requests, consents and other communications
herein shall be in writing and shall be deemed to be delivered (i) on the date
delivered, if personally delivered or transmitted via facsimile with return
confirmation of such transmission; (ii) on the second business day after the
date sent, if sent by recognized overnight courier service; and (iii) on the
fifth (5th) day after the date sent, if mailed by first-class certified mail,
postage prepaid and return receipt requested, as follows:

                  (a)      If to the Company: Savoy Resources Corp. 18826
                           Pagentry Place Monument, Colorado 80132
                           Attention:  Mr. Robert Slavik, President

                           with a copy to:
                           Cudd & Associates
                           18826 Pagentry Place
                           Monument, Colorado 80132
                           Attention:  Patricia Cudd, Esq.

                  (b) If to the Investor, addressed to the Investor at the
         address set forth above, or at such other address as the Investor shall
         designate by written notice to the Company.

                                       5
<PAGE>
     6.2 Governing Law. Notwithstanding the place where this Agreement may be
executed by any of the parties hereto, the parties expressly agree that this
Agreement shall be governed by and construed in accordance with the internal
laws of the State of Colorado, without regard to principles of conflicts of law.

     6.3 Severability. The holding of any provision of this Agreement to be
invalid or unenforceable by a court of competent jurisdiction shall not affect
any other provision of this Agreement, which shall remain in full force and
effect.

     6.4 No Implied Waiver. The failure of either the Company or the Investor to
enforce any of the provisions of this Agreement, or the waiver of any of the
provisions of this Agreement in any instance, shall not be construed as a
general waiver or relinquishment on its part of that provision. No waiver or
modification of any provision of this Agreement shall be implied. In order to be
effective, a waiver or modification of a provision of this Agreement shall be in
writing and must be signed by the party against which it is to be enforced.

     6.5 Further Assurances. The parties agree to execute and deliver all such
further documents, agreements and instruments and take such other and further
action as may be necessary or appropriate to carry out the purposes and intent
of this Agreement. The Investor hereby agrees to provide to the Company such
additional information as may be requested by the Company from time to time.

     6.6 Amendments. This Agreement may only be amended, modified or
supplemented by an agreement in writing executed by a duly authorized
representative of the Company and the Investor.

     6.7 Binding Effect. Except as otherwise provided herein, this Agreement
shall be binding upon and inure to the benefit of the parties and their heirs,
executors, administrators, successors, legal representatives and assigns.

     6.8 Entire Agreement. This instrument contains the entire agreement, and
supersedes any prior communications, understandings or agreements, of the
parties with respect to the subject matter hereof.

     6.9 Assignability. This Agreement is not transferable or assignable by the
Investor without the prior written consent of the Company.

     6.10 Interpretation. The captions or headings in this Agreement are
strictly for convenience and shall not be considered in interpreting this
Agreement or as amplifying or limiting any of its contents. Terms defined or
used in this Agreement in the singular form shall be interpreted to apply to the
plural form as well, and vice versa, as the identity of the parties or objects
referred to may require. References to "business days" exclude Saturdays,
Sundays and holidays during which nationally chartered banks in New York City
are authorized or required to close.

     6.11 Entire Agreement. This Agreement constitutes the entire and final
agreement and understanding between the Company and the Investor with respect to
the subject matter of this Agreement and supersedes all prior agreements
relating to the subject matter of this Agreement, which are of no further force
or effect.

                                       6
<PAGE>
     6.12 Section Headings. The section headings contained in this Agreement are
for reference purposes only and shall not affect in any way the meaning or
interpretation of this Agreement.

     6.13 Counterparts. This Agreement may be executed in counterparts, each of
which shall be deemed an original, but both of which together shall constitute
one and the same instrument.

     6.14 Provisions Surviving Termination. Provisions contained in this
Agreement that by their sense and content are intended to survive termination of
this Agreement shall so survive, including without limitation the provisions of
Sections 3, 4, 5 and 6.

     6.15 Joint Preparation. This Agreement shall be deemed to have been
prepared jointly by the parties hereto and any uncertainty or ambiguity existing
herein shall not be interpreted against either party by reason of its drafting
of this Agreement, but shall be interpreted according to the application of
rules of interpretation for arms' length agreements.

     6.16 Attorneys' Fees. In the event of any litigation between the parties
hereto, the non-prevailing party shall pay the reasonable expenses, including
the attorneys' fees, of the prevailing party in connection therewith.

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

THE COMPANY:                              THE INVESTOR:

SAVOY RESOURCES CORP

By: /s/ Robert Slavik                     /s/ Karen MacPherson
    ------------------------              --------------------------------------
    Robert Slavik, President              Karen MacPherson, Authorized Signatory

                                       7
<PAGE>

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