Document:

Filed by sedaredgar.com - EuroGas, Inc. - Exhibit 10.5

ASSIGNMENT AGREEMENT 

THIS AGREEMENT made as of the 2nd day of April, 2009 

BETWEEN: 

HENRY & MUNROE,
LLC., of 
61 Morning View 
Kalispell, Montana 
59901

(the "HMLLC") 

OF THE FIRST PART 

AND: 

EUROGAS, INC., of

4087 Nike Drive 
Unit #4 
West Jordan, Utah 

(the "EuroGas") 

OF THE SECOND PART 

WHEREAS: 

	A. 	
      pursuant to the terms of an option to purchase real
      estate agreement dated March 3, 2009, a copy of which is attached hereto
      as Schedule "A" (the "Option Agreement"), HMLLC was granted an option (the
      "Option") by Dale Turner, Tombstone Development Co. and Tombstone Hills
      LLC (hereinafter collectively known as the "Optionors") to purchase three
      parcels of land located in the Tombstone Mining District in southeast
      Arizona and known as "TEI Open Pit Mine" (the "Land");

	 	 
	B. 	
      HMLLC wishes to assign all of its right, title and
      interest in and to the Option Agreement to EuroGas, subject to the terms
      and conditions of this Agreement;

NOW THEREFORE in consideration of the premises, the performance
of the mutual covenants contained herein and other good and valuable
consideration given by each party to the others, the receipt and sufficiency of
which is hereby conclusively acknowledged, it is hereby agreed as follows: 

1.                      
 INTERPRETATION 

1.1                    
 The words "paragraph", "subparagraph", "herein", "hereof" and "hereunder"
refer to the provisions of this Agreement. 

1.2                     
The headings are for convenience only and do not form a part of this Agreement
nor are they intended to interpret, define or limit the scope, extent or intent
of this Agreement or any portion hereof. 

1.3                      This
Agreement is governed by, subject to and interpreted in accordance with the laws
prevailing in the State of Arizona, and the federal laws of the United States
applicable therein, and the 

2

courts of the State of Arizona will have the exclusive
jurisdiction over any dispute arising in connection with this Agreement. 

1.4                      All
references to currency herein are to the lawful money of the United States of
America. 

2.                       
ENTIRE AGREEMENT 

2.1                      This
Agreement, when executed, constitutes the whole agreement between the parties
hereto and supersedes all other agreements written, oral or otherwise, and there
are no representations or warranties, express or implied, statutory or otherwise
other than expressly set forth or referred to herein. 

2.2                     
This Agreement may not be amended, modified, released or discharged, in whole or
in part, except by an instrument in writing signed by all parties hereto. 

3.                       
ASSIGNMENT 

3.1                      HMLLC
hereby assigns all right, title and interest in and to the Option Agreement to
EuroGas (the "Assignment") and EuroGas hereby accepts the Assignment. 

3.2                     
Subject to Paragraph 3.4, EuroGas agrees to be bound by all of the provisions of
the Option Agreement and HMLLC is released of all duties and obligations
thereunder. 

3.3                      As
consideration for the Assignment, EuroGas agrees to:

	 	(a) 	
      pay to HMLLC the sum of $10,000 within fourteen (14)
      calendar days of the date of this Agreement; and

	 	 	 
	 	(b) 	
      allot and issue as fully paid and non-assessable to HMLLC
      an aggregate of two million (2,000,000) restricted shares of its common
      stock (the "Shares"), within fourteen (14) calendar days of the date of
      this Agreement.

3.4                     
In the event EuroGas elects not to exercise its right to purchase Parcels A, B
and/or C, as defined in the Option Agreement, within the various time periods
described in the Option Agreement, as may be extended by the Optionors in
writing from time to time (each, an "Exercise Period"), then EuroGas shall
forfeit its rights herein at least thirty (30) days prior to expiry of each
Exercise Period, and all rights in and to the Option Agreement shall then revert
to HMLLC absolutely. 

3.5                      In
the event that EuroGas elects not to exercise the Option and acquire all or any
portion of the Lands on or before March 31, 2010, then this Agreement shall
terminate and be of no further force or effect. 

4.                       
REPRESENTATIONS AND WARRANTIES 

4.1                     
Each of the parties represents and warrants to the other that:

	 	(a) 	
      where applicable, it is a company duly incorporated,
      organized and validly subsisting and in good standing under the laws of
      its incorporating jurisdiction;

	 	 	 
	 	(b) 	
      it is duly licensed and qualified to do business in those
      jurisdictions where it is necessary to fulfill its obligations under this
      Agreement;

3

	 	(c) 	
      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;

	 	 	 
	 	(d) 	
      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 or
      result in any breach or accelerate performance required by, any covenants
      or agreements contained in, or constitute a default under, or result in
      the creation of any encumbrance under the provision of any shareholders'
      or directors' resolution, indenture, agreement or other instrument
      whatsoever to which it is a party or by which it is bound or to be which
      it is subject;

	 	 	 
	 	(e) 	
      the execution and delivery of this Agreement and any
      agreements contemplated hereby have been duly authorized by all necessary
      corporate action on its part and will not violate or result in the breach
      of the laws or any jurisdiction applicable or pertaining thereto or of its
      constating documents;

	 	 	 
	 	(f) 	
      there are no consents, approvals or conditions precedent
      to its performance under this Agreement which have not been
    obtained;

	 	 	 
	 	(g) 	
      no proceedings are pending for, and the parties are
      unaware of, any basis for the institution of any proceedings leading to
      their dissolution or winding up, or the placing of them in bankruptcy or
      subject to any other laws governing the affairs of insolvent corporations
      or persons;

	 	 	 
	 	(h) 	
      it has no information or knowledge of any facts
      pertaining to the transactions contemplated hereby which, if known, might
      reasonably be expected to deter the other party from completing the
      transactions contemplated hereby.

4.2                     
HMLLC represents and warrants to EuroGas that:

	 	(a) 	
      it has obtained all necessary consents to the Assignment
      from the Optionors;

	 	 	 
	 	(b) 	
      the Option Agreement is a valid and binding agreement, in
      good standing, and enforceable according to its terms;

	 	 	 
	 	(c) 	
      it has the sole and exclusive right to enter into this
      Agreement and all necessary authority to assign the Option Agreement in
      accordance with the terms of this Agreement;

	 	 	 
	 	(d) 	
      it is not aware of any fact or circumstance which has not
      been disclosed to EuroGas which should be disclosed in order to prevent
      the representations and warranties in this Paragraph from being misleading
      or which would be likely to affect the decision of EuroGas to enter into
      this Agreement.

4.3                      The
representations and warranties hereinbefore set out are conditions upon which
the parties have relied in entering into this Agreement and shall be true and
correct on the date hereof and shall survive the acquisition of any interest in
and to the Lands by EuroGas.

4.4                      Each
of the parties will indemnify and save the other harmless from all loss, damage,
costs, actions and suits arising out of or in connection with any breach of any
representation, warranty, covenant, agreement or condition made by it and
contained in this Agreement. 

4

5.                       
NOTICES 

5.1                     
All notices given in connection with this Agreement shall be in writing and
shall be personally delivered, faxed or emailed to the parties at their
addresses set out on Page 1 of this Agreement or to the following fax numbers or
email addresses: 

	 	(a) 	HMLLC: 	Fax: 406-257-5382; 
	 	  	  	Email: jtb@bauska.com; 
	 	  	  	 
	 	(b) 	EuroGas: 	Fax: 801-282-8829; 
	 	  	  	Email: Rauball@eunet.at;
  

5.2                      Any
such notices personally delivered, faxed or emailed shall be deemed delivered on
the day of delivery. 

5.3                      Any
party hereto may change its address for service by notice in writing to the
other parties hereto. 

6.                       
BINDING EFFECT 

6.1                      This
Agreement shall be binding upon and enure to the benefit of the parties and
their respective heirs, personal representatives, successors and assigns, except
as otherwise expressly provided herein. 

7.                       
ASSIGNMENT 

7.1                     
This Agreement is not transferable or assignable, except with the prior written
consent of both parties. 

8.                       
SEVERABILITY 

8.1                      Should
any part of this Agreement be declared or held invalid for any reason, such
invalidity shall not affect the validity of the remainder, which shall continue
in force and effect and be construed as if this Agreement had been executed
without the invalid portion, and it is hereby declared the intention of the
parties hereto that this Agreement would have been executed without reference to
any portion that may, for any reason, be hereafter declared or held invalid.

9.                       
WAIVER 

9.1                     
No waiver or consent by a party of or to any breach or default by any other
party shall be effective unless evidenced in writing, executed and delivered by
the party so waiving or consenting and no waiver or consent effectively given as
aforesaid shall operate as a waiver of or consent to any further or other breach
or default in relation to the same or any other provision of this Agreement.

5

10.                      INDEPENDENT
LEGAL ADVICE 

10.1                     All
parties to this Agreement acknowledge and agree that they have had adequate
opportunity to seek and obtain independent legal advice with respect to the
subject matter of this Agreement, and for the purpose of ensuring their rights
and interests are protected. 

10.2                     All
parties to this Agreement represent and warrant that they have either sought
independent legal advice, or consciously chosen not to do so with full knowledge
of the risks associated with not obtaining such independent legal advice. 

11.                      
GENERAL PROVISIONS 

11.1                     Time
is of the essences of this Agreement. 

11.2                    
Notwithstanding anything herein to the contrary, the parties hereto shall not be
deemed in default with respect to the performance of any of the terms, covenants
and conditions of this Agreement, if the same shall be due to any strike,
lock-out, civil commotion, invasion, rebellion, hostilities, sabotage,
governmental regulations or controls, Acts of God, or otherwise beyond the
control of the parties. 

11.3                    
Each of the parties hereto hereby covenants and agrees to execute such further
and other documents and instruments, and to do such further and other things as
may be necessary to implement and carry out the intent of this Agreement. 

12.                      
COUNTERPARTS AND ELECTRONIC MEANS 

12.1                     This
Agreement may be executed in any number of counterparts, each of which, when so
executed and delivered, shall constitute an original and all of which together
shall constitute one instrument. 

12.2                    
Delivery of an executed copy of this Agreement by electronic facsimile
transmission or other means of electronic communication capable of producing a
printed copy will be deemed to be execution and delivery of this Agreement as of
the date hereinafter set forth. 

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

	HENRY & MUNROE, LLC 	) 	 
	  	) 	 
	Per: /s/ John T. Bauska 	) 	 
	  	) 	 
	  	) 	 
	John T. Bauska 	) 	 
	Chief Executive Manager 	) 	 

6

	EUROGAS, INC. 	) 	 
	  	) 	 
	Per: /s/ Wolfgang Rauball 	) 	 
	  	) 	 
	  	) 	 
	Wolfgang Rauball 	) 	 
	President and Chief Executive Officer 	) 	 

SCHEDULE "A" 

The Option AgreementFiled by sedaredgar.com - EuroGas, Inc. - Exhibit 10.6

OPTION AGREEMENT 

THIS AGREEMENT made as of the 2nd day of April, 2009 

BETWEEN: 

RIO PLATA EXPLORATION AND MINING
INC., of 
61 Morning View 
Kalispell, Montana 
59901

("Rio Plata") 

And: 

PIEJO PARTNERS, INC., of

P.O. Box 2270 
Kalispell, Montana 
59903 

("Piejo") 

(collectively the "Optionors") 

OF THE FIRST PART 

AND: 

EUROGAS, INC., of

4087 Nike Drive 
Unit #4 
West Jordan, Utah 

(the "Optionee") 

OF THE SECOND PART 

WHEREAS: 

	A. 	
      the Optionors are the recorded and beneficial owners of
      all right, title and interest in and to 58 BLM claims located in Section
      3, Township 18s, Range 17e, Gila Salt River Basin and Meridian, Arizona
      (the "Claims"), each as to 50%;

	 	 
	B. 	
      the parties wish to fully set out the terms upon which
      the Optionors shall grant to the Optionee a sole and exclusive first right
      and option to acquire all 100% interest in and to the Claims, subject to
      the terms and conditions of this Agreement;

NOW THEREFORE in consideration of the premises, the performance
of the mutual covenants contained herein and other good and valuable
consideration given by each party to the others, the receipt and sufficiency of
which is hereby conclusively acknowledged, it is hereby agreed as follows: 

2

1.                      
INTERPRETATION 

1.1              
      The words "paragraph", "subparagraph", "herein",
"hereof" and "hereunder" refer to the provisions of this Agreement. 

1.2                    
The headings are for convenience only and do not form a part of this Agreement
nor are they intended to interpret, define or limit the scope, extent or intent
of this Agreement or any portion hereof. 

1.3                    
This Agreement is governed by, subject to and interpreted in accordance with the
laws prevailing in the State of Arizona, and the federal laws of the United
States applicable therein, and the courts of the State of Arizona will have the
exclusive jurisdiction over any dispute arising in connection with this
Agreement. 

1.4                    
All references to currency herein are to the lawful money of the United States
of America. 

1.5                    
Wherever the singular or masculine are used throughout this Agreement, the same
shall be construed as being the plural or feminine or neuter when the context so
requires. 

2.                     
 ENTIRE AGREEMENT 

2.1                    
This Agreement, when executed, constitutes the whole agreement between the
parties hereto and supersedes all other agreements written, oral or otherwise,
and there are no representations or warranties, express or implied, statutory or
otherwise other than expressly set forth or referred to herein. 

2.2                    
This Agreement may not be amended, modified, released or discharged, in whole or
in part, except by an instrument in writing signed by all parties hereto. 

3.                      
GRANT OF OPTION 

3.1                    
The Optionors hereby give and grant unto the Optionee the sole and exclusive
first right and irrevocable option (the "Option") to acquire an undivided one
hundred percent (100%) right, title and interest in and to the Claims, free and
clear of all liens, charges and encumbrances of whatsoever nature. 

3.2                    
As consideration for the Option, the Optionee shall allot and issue as fully
paid and non-assessable to the Optionors, each as to one-half, an aggregate of
five hundred thousand (500,000) restricted shares of its common stock (the
"Option Shares") within fourteen (14) calendar days of the date of this
Agreement. 

3.3                    
In order to exercise the Option to acquire the Claims, the Optionee shall on or
before September 30, 2009 allot and issue as fully paid and non-assessable to
the Optionors, each as to one-half, an aggregate of eight million (8,000,000)
restricted shares of its common stock (the "Shares"). 

3.4                    
Subject to the provisions of this Section, on the date that the Optionee has
complied with the provisions of Paragraph 3.3, the Optionee shall have exercised
the Option and all right, title and interest in and to the Claims shall vest
with the Optionee free and clear of all charges, encumbrances and claims, and
the Optionee shall be entitled to record the transfer contemplated hereby at its
own cost with the appropriate government office to effect legal transfer of the
Claims into the name of the Optionee. 

3

4.                      
OPTION ONLY 

4.1                    
Unless and until the Optionee exercises the Option, nothing herein contained
shall be construed as obligating the Optionee to do anything except to the
extent that the provisions hereof are expressly made to have effect prior to or
following the expiration of the time limited for exercise, and no act or acts or
payment or payments or delivery or deliveries by the Optionee shall be construed
as obligating the Optionee to do any other further act or to make any other or
further payments or deliveries except as otherwise specifically provided
herein.

5.                      
REPRESENTATIONS AND WARRANTIES 

5.1                    
Each of the parties represents and warrants to the other that:

	 	(a) 	
      where applicable, it is a company duly incorporated,
      organized and validly subsisting and in good standing under the laws of
      its incorporating jurisdiction;

	 	 	 
	 	(b) 	
      it is duly licensed and qualified to do business in those
      jurisdictions where it is necessary to fulfill its obligations under this
      Agreement;

	 	 	 
	 	(c) 	
      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;

	 	 	 
	 	(d) 	
      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 or
      result in any breach or accelerate performance required by, any covenants
      or agreements contained in, or constitute a default under, or result in
      the creation of any encumbrance under the provision of any shareholders'
      or directors' resolution, indenture, agreement or other instrument
      whatsoever to which it is a party or by which it is bound or to be which
      it is subject;

	 	 	 
	 	(e) 	
      the execution and delivery of this Agreement and any
      agreements contemplated hereby have been duly authorized by all necessary
      corporate action on its part and will not violate or result in the breach
      of the laws or any jurisdiction applicable or pertaining thereto or of its
      constating documents;

	 	 	 
	 	(f) 	
      there are no consents, approvals or conditions precedent
      to its performance under this Agreement which have not been
    obtained;

	 	 	 
	 	(g) 	
      no proceedings are pending for, and the parties are
      unaware of, any basis for the institution of any proceedings leading to
      their dissolution or winding up, or the placing of them in bankruptcy or
      subject to any other laws governing the affairs of insolvent corporations
      or persons;

	 	 	 
	 	(h) 	
      it has no information or knowledge of any facts
      pertaining to the transactions contemplated hereby which, if known, might
      reasonably be expected to deter the other party from completing the
      transactions contemplated hereby.

5.2                    
The Optionors represent and warrant to the Optionee that:

4

	 	(a) 	
      they are the registered and beneficial owners of the
      Claims with good and marketable title thereto, free and clear of all
      mortgages, liens, charges, pledges, security interests, encumbrances or
      other claims whatsoever and the Claims are fit for the purpose for which
      they are presently being used and are in a state of good repair and
      maintenance, reasonable wear and tear excepted;

	 	 	 
	 	(b) 	
      they have the sole and exclusive right to enter into this
      Agreement and all necessary authority to dispose of the Claims in
      accordance with the terms of this Agreement;

	 	 	 
	 	(c) 	
      no person, firm or corporation has any written or oral
      agreement, option, understanding or commitment, or any right or privilege
      capable of becoming an agreement, for the purchase from the Optionors of
      any interest in and to the Claims;

	 	 	 
	 	(d) 	
      no person, firm or corporation has any proprietary or
      possessory interest in the Claims other than the Optionors and no person
      is entitled to any royalty or other payment in the nature of rent or
      royalty on any minerals, ores, metals or concentrates, or any such other
      products removed from the Claims;

	 	 	 
	 	(e) 	
      there are no actions, suits or proceedings (whether or
      not purportedly against or on behalf of the Optionors), pending or
      threatened which may affect the Claims at law or in equity or before or by
      any federal, state, provincial, municipal or other governmental
      department, commission, board, bureau, agency or instrumentality, domestic
      or foreign. The Optionors are not now aware of any existing ground on
      which any such action, suit or proceeding might be commenced with any
      reasonable likelihood of success;

	 	 	 
	 	(f) 	
      the Claims are duly and validly staked, located and
      recorded in accordance with all applicable laws and are free and clear of
      all liens, charges, encumbrances and third party interests
    whatsoever;

	 	 	 
	 	(g) 	
      all permits and licenses covering the Claims have been
      duly and validly issued pursuant to the mining laws of the State of
      Arizona and are in good standing by the proper doing and filing of
      assessment work and the payment of all fees, taxes and rentals in
      accordance with the requirements of the mining laws of the State of
      Arizona and the performance of all other actions necessary in that
      regard;

	 	 	 
	 	(h) 	
      all conditions on and relating to the Claims and the
      operations conducted thereon by or on behalf of the Optionors are in
      compliance with all applicable laws, regulations or orders including,
      without limitation, law relating to environmental matters, waste disposal
      and storage and reclamation;

	 	 	 
	 	(i) 	
      there are no outstanding orders or directions relating to
      environmental matters requiring any work, repairs, construction or capital
      expenditures with respect to the Claims and the conduct of the operations
      related thereto, nor have the Optionors received any notice of
  same;

	 	 	 
	 	(j) 	
      they are not in default or breach of any contract,
      agreement, written or oral, indenture or other instrument to which they
      are a party in respect of the Claims and there exists no state of facts
      which after notice or lapse of time or both would constitute such a
      default or

5

	 		
      breach and all such contracts, agreements, indentures or
      other instruments are now in good standing and in full force and effect
      without amendment thereto and the Optionors are entitled to all benefits
      thereunder;

	 	 	 
	 	(k) 	
      they have delivered and will continue to deliver to the
      Optionee all title and geological information in its possession or control
      relating to the Claims and copies of all permits, permit applications and
      applications for exploration and exploitation rights respecting the
      Claims;

	 	 	 
	 	(l) 	
      they are not aware of any fact or circumstance which has
      not been disclosed to the Optionee which should be disclosed in order to
      prevent the representations and warranties in this Paragraph from being
      misleading or which would be likely to affect the decision of the Optionee
      to enter into this Agreement or exercise the
Option.

5.3                    
The representations and warranties hereinbefore set out are conditions upon
which the parties have relied in entering into this Agreement and shall be true
and correct on the date hereof and shall survive the acquisition of the Claims
by the Optionee.

5.4                    
Each of the parties will indemnify and save the other harmless from all loss,
damage, costs, actions and suits arising out of or in connection with any breach
of any representation, warranty, covenant, agreement or condition made by it and
contained in this Agreement. 

5.5                    
The Optionors acknowledge and agree that the Optionee has entered into this
Agreement relying on the warranties and representations and other terms and
conditions of this Agreement and that no information which is now known or which
may hereafter become known to the Optionee shall limit or extinguish the right
to indemnity hereunder and in addition to any other remedies it may pursue, the
Optionee may deduct the amount of any such loss or damage from any amounts
payable by it to the Optionors hereunder. 

6.                     
 RIGHT OF ENTRY 

6.1                    
From and as of the date hereof until the exercise of the Option unless this
Agreement is earlier terminated, the Optionee, its employees, agents and
independent contractors shall have the sole and exclusive right and option
to:

	 	(a) 	
      enter upon the Claims;

	 	 	 
	 	(b) 	
      have exclusive and quiet possession of the
  Claims;

	 	 	 
	 	(c) 	
      explore, develop and operate the Claims;

	 	 	 
	 	(d) 	
      bring upon and erect upon the Claims such mining
      facilities as the Optionee may consider advisable;

	 	 	 
	 	(e) 	
      remove from the Claims and sell or otherwise dispose of
      products for the purposes of assaying or other
testing.

6

7.                      
COVENANTS 

7.1                    
Until the earlier of the exercise of the Option or the termination of this
Agreement, the Optionors shall:

	 	(a) 	
      not do or permit or suffer to be done any act or thing
      which would or might in any way adversely affect the rights of the
      Optionee hereunder;

	 	 	 
	 	(b) 	
      continue to make available to the Optionee and its
      representatives all records and files relating to the Claims and will
      permit the Optionee and its representatives at their own expense to take
      abstracts therefrom and make copies thereof;

	 	 	 
	 	(c) 	
      promptly provide the Optionee with any and all notices
      and correspondence from government agencies in respect of the
    Claims;

	 	 	 
	 	(d) 	
      cooperate fully with the Optionee in obtaining any
      additional rights on or related to the Claims as the Optionee deems
      desirable;

	 	 	 
	 	(e) 	
      immediately notify the Optionee of any claims, actions,
      demands of a civil, legal or judicial nature, filed against the Optionors
      in respect of the Claims.

7.2                    
Until the earlier of the exercise of the Option or the termination of this
Agreement, the Optionee shall:

	 	(a) 	
      keep the Claims free and clear of all liens, charges and
      encumbrances arising from its operations;

	 	 	 
	 	(b) 	
      maintain the Claims in good standing by doing and filing
      of all necessary work and the payment of all taxes and rents required to
      be paid and by the doing of all other acts and things and the making of
      all other payments required to be made which may be necessary in that
      regard;

	 	 	 
	 	(c) 	
      not do or permit or suffer to be done any act or thing
      which would or might in any way adversely affect the rights of the
      Optionors hereunder;

	 	 	 
	 	(d) 	
      conduct all work on or with respect to the Claims in a
      careful and minerlike manner, including any reclamation work required in
      respect of work performed by the Optionee on the Claims, and in accordance
      with the applicable laws, and the Optionee agrees to indemnify and save
      the Optionors harmless from any and all claims, suits or actions made or
      brought against the Optionors as a result of work done by the Optionee on
      or with respect to the Claims;

	 	 	 
	 	(e) 	
      at its own expense, carry out any environmental cleanup
      which might be required as a result of work performed by the Optionee on
      the Claims;

	 	 	 
	 	(f) 	
      promptly provide the Optionors with any and all notices
      and correspondence from government agencies in respect of the
    Claims;

7

	 	(g) 	
      cooperate fully with the Optionors in obtaining any
      additional rights on or related to the Claims as the Optionors deem
      desirable;

	 	 	 
	 	(h) 	
      immediately notify the Optionors of any claims, actions,
      demands of a civil, legal or judicial nature, filed against the Optionee
      in respect of the Claims.

8.                     
 ABANDONMENT PRIOR TO EXERCISE OF OPTION 

8.1                    
In addition to any other termination provisions contained in this Agreement, the
Optionee shall have the absolute right to abandon this Agreement prior to the
exercise of the Option by giving notice of such abandonment to the Optionors,
and in the event of such termination, this Agreement shall be of no further
force or effect except for any obligations which have arisen prior to the
effective date of abandonment; PROVIDED THAT any such abandonment must occur at
least two (2) months prior to the payment date of further mining title payments,
if any.

9.                     
 DEFAULT UNDER THE OPTION 

9.1                    
If the Optionee should be in default of any requirement concerning the exercise
of the Option, the Optionors shall give written notice to the Optionee
specifying the default and the Optionee shall not lose any rights granted under
this Agreement unless within thirty (30) days after the giving of notice of
default by the Optionors, the Optionee has failed to take reasonable steps to
cure the default by the appropriate performance and if the Optionee fails to
take such reasonable steps to cure any such default, the Optionors shall be
entitled to seek any remedy it may have on account of such default.

10.                    
OBLIGATIONS OF THE OPTIONEE ON TERMINATION OF THE OPTION

10.1                  
If this Agreement is terminated prior to the exercise of the Option, the
Optionee shall:

	 	(a) 	
      quitclaim all of its unearned right, title and interest
      in and to the Claims to the Optionors free and clear of all charges and
      encumbrances arising from the operation of the Optionee;

	 	 	 
	 	(b) 	
      have the right to remove from the Claims within six (6)
      months from the date of termination, all moveable mining facilities
      erected, installed or brought upon the Claims by or at the instance of the
      Optionee and any mining facilities remaining on the Claims after the
      expiration of the said period of six (6) months shall, without
      compensation to the Optionee, become the property of the
  Optionors;

	 	 	 
	 	(c) 	
      provide the Optionors with all non-interpretive records,
      files and data relating to the Claims and permit the Optionors and their
      representatives, at the expense of the Optionors, to take abstracts
      therefrom and make copies thereof.

11.                   
 NOTICES 

11.1                  
All notices given in connection with this Agreement shall be in writing and
shall be personally delivered, faxed or emailed to the parties at their
addresses set out on Page 1 of this Agreement or to the following fax numbers or
email addresses: 

8

	 	(a) 	the Optionors: 	Fax: 406-257-5382; 
	 	  	  	Email: jtb@bauska.com; 
	 	  	  	 
	 	(b) 	the Optionee: 	Fax: 801-282-8829; 
	 	  	  	Email: rauball@eunet.at; 

11.2                  
Any such notices personally delivered, faxed or emailed shall be deemed
delivered on the day of delivery. 

11.3                  
Any party hereto may change its address for service by notice in writing to the
other parties hereto. 

12.                   
 BINDING EFFECT 

12.1                  
This Agreement shall be binding upon and enure to the benefit of the parties and
their respective heirs, personal representatives, successors and assigns, except
as otherwise expressly provided herein. 

13.                    
ASSIGNMENT 

13.1                  
This Agreement is not transferable or assignable, except with the prior written
consent of all parties. 

14.                    
SEVERABILITY 

14.1                  
Should any part of this Agreement be declared or held invalid for any reason,
such invalidity shall not affect the validity of the remainder, which shall
continue in force and effect and be construed as if this Agreement had been
executed without the invalid portion, and it is hereby declared the intention of
the parties hereto that this Agreement would have been executed without
reference to any portion that may, for any reason, be hereafter declared or held
invalid. 

15.                    
WAIVER 

15.1                  
No waiver or consent by a party of or to any breach or default by any other
party shall be effective unless evidenced in writing, executed and delivered by
the party so waiving or consenting and no waiver or consent effectively given as
aforesaid shall operate as a waiver of or consent to any further or other breach
or default in relation to the same or any other provision of this Agreement.

16.                   
 INDEPENDENT LEGAL ADVICE 

16.1                  
All parties to this Agreement acknowledge and agree that they have had adequate
opportunity to seek and obtain independent legal advice with respect to the
subject matter of this Agreement, and for the purpose of ensuring their rights
and interests are protected. 

16.2                  
All parties to this Agreement represent and warrant that they have either sought
independent legal advice, or consciously chosen not to do so with full knowledge
of the risks associated with not obtaining such independent legal advice. 

9

17.                    
GENERAL PROVISIONS 

17.1                  
Time is of the essences of this Agreement. 

17.2                  
Notwithstanding anything herein to the contrary, the parties hereto shall not be
deemed in default with respect to the performance of any of the terms, covenants
and conditions of this Agreement, if the same shall be due to any strike,
lock-out, civil commotion, invasion, rebellion, hostilities, sabotage,
governmental regulations or controls, Acts of God, or otherwise beyond the
control of the parties. 

17.3                  
Each of the parties hereto hereby covenants and agrees to execute such further
and other documents and instruments, and to do such further and other things as
may be necessary to implement and carry out the intent of this Agreement. 

18.                    
COUNTERPARTS AND ELECTRONIC MEANS 

18.1                  
This Agreement may be executed in any number of counterparts, each of which,
when so executed and delivered, shall constitute an original and all of which
together shall constitute one instrument. 

18.2                  
Delivery of an executed copy of this Agreement by electronic facsimile
transmission or other means of electronic communication capable of producing a
printed copy will be deemed to be execution and delivery of this Agreement as of
the date hereinafter set forth. 

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

	RIO PLATA EXPLORATION AND MINING INC. 	) 	 
	  	) 	 
	Per: /s/ John T. Bauska 	) 	 
	  	) 	 
	  	) 	 
	John T. Bauska 	) 	 
	President and Chief Executive Officer 	) 	 
	  	  	 
	  	  	 
	  	  	 
	PIEJO PARTNERS, INC. 	  	 
	  	  	 
	Per: /s/ John T. Bauska 	  	 
	  	  	 
	  	  	 
	John T. Bauska 	  	 
	Managing Director 	  	 

10

	EUROGAS, INC. 	) 	 
	  	) 	 
	Per: /s/ Roger Agyagos 	) 	 
	  	) 	 
	  	) 	 
	Roger Agyagos 	) 	 
	Director 	)

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