Document:

Exhibit 4.2

UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN CERTIFICATED
FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A
NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR
ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A
SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS
CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY (55 WATER STREET, NEW YORK, NEW YORK), TO THE ISSUER OR ITS AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS
MADE TO CEDE & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL, SINCE THE REGISTERED OWNER HEREOF,
CEDE & CO., HAS AN INTEREST HEREIN.

REGISTERED                                           $

No. FL-                                              CUSIP #

                         THE BEAR STEARNS COMPANIES INC.

                           MEDIUM-TERM NOTE, SERIES B

          PRINCIPAL PROTECTED NOTES LINKED TO THE DOW JONES INDUSTRIAL
                          AVERAGE DUE MARCH [__], 2011

Interest Rate:  *

Original Issue Date:                            Redeemable On and After:

Maturity Date:                                  Optional Repayment Date(s):

Minimum Denominations:  $1,000, increased in multiples of $1,000

*       The Company will not make any periodic payments of interest or any other
        payments on the Notes, until Maturity. At Maturity, the Company will pay
        the principal amount of the Notes plus the Index Percentage Change
        Amount (as defined below).

<PAGE>

            THE BEAR STEARNS COMPANIES INC., a Delaware corporation (the
"Company"), for value received, hereby promises to pay to CEDE & CO., or
registered assigns, the principal amount stated above plus the Index Percentage
Change Amount, on the maturity date shown above.

            Payment of the principal on this Note and the Index Percentage
Change Amount shall be made at the office or agency of the Trustee (as defined
below) maintained for that purpose in the Borough of Manhattan, The City of New
York, in such coin or currency of the United States of America as at the time of
payment is legal tender for the payment of public and private debt.

            The principal hereof and the Index Percentage Change Amount due at
Maturity will be paid at Maturity in immediately available funds against
presentation of this Note at the office or agency of the Trustee maintained for
that purpose in the Borough of Manhattan, The City of New York.

            REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS NOTE SET
FORTH ON THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL PURPOSES
HAVE THE SAME EFFECT AS IF SET FORTH ON THE FACE HEREOF.

            This Note shall be governed by and construed in accordance with the
laws of the State of New York.

            This Note is one of the series of Medium-Term Notes, Series B, of
the Company.

            Unless the certificate of authentication hereon has been executed by
JPMorgan Chase Bank (formerly, The Chase Manhattan Bank), the Trustee under the
Indenture, or its successor thereunder by the manual signature of one of its
authorized signatories, this Note shall not be entitled to any benefit under the
Indenture or be valid or obligatory for any purpose.

                                      -2-
<PAGE>

            IN WITNESS WHEREOF, the Company has caused this instrument to be
duly executed under its corporate seal.

Dated:

                                       THE BEAR STEARNS COMPANIES INC.

                                       By:
                                          --------------------------------------
                                            Executive Vice President and
                                            Chief Financial Officer

ATTEST:

-------------------------
Secretary

[Corporate Seal]

                          CERTIFICATE OF AUTHENTICATION

            This is one of the Securities of the series designated therein
referred to in the within-mentioned Indenture.

                                       JPMORGAN CHASE BANK, as Trustee

                                       By:
                                          --------------------------------------
                                          Authorized Signature

                                      -3-
<PAGE>

                                [Reverse of Note]

                         THE BEAR STEARNS COMPANIES INC.

                           MEDIUM-TERM NOTE, SERIES B

          PRINCIPAL PROTECTED NOTES LINKED TO THE DOW JONES INDUSTRIAL
                          AVERAGE DUE MARCH [__], 2011

            This Note is one of a duly authorized issue of debentures, notes or
other evidences of indebtedness (hereinafter called the "Securities") of the
Company of the series hereinafter specified, all such Securities issued and to
be issued under the Indenture dated as of May 31, 1991, as amended (herein
called the "Indenture") between the Company and JPMorgan Chase Bank (formerly,
The Chase Manhattan Bank), as trustee (herein called the "Trustee," which term
includes any successor trustee under the Indenture), to which Indenture and all
indentures supplemental thereto reference is hereby made for a statement of the
respective rights and limitations of rights thereunder of the Company, the
Trustee and the Holders of the Securities, and the terms upon which the
Securities are, and are to be, authenticated and delivered. As provided in the
Indenture, Securities may be issued in one or more series, which different
series may be issued in various aggregate principal amounts, may mature at
different times, may bear interest, if any, at different rates, may be subject
to different redemption provisions, if any, may be subject to different
repayment provisions, if any, may be subject to different sinking, purchase or
analogous funds, if any, may be subject to different covenants and Events of
Default and may otherwise vary as in the Indenture provided or permitted. This
Note is one of the series of the Securities designated as Medium-Term Notes,
Series B (the "Notes"). The Notes of this series may be issued at various times
with different maturity dates, redemption dates and different principal
repayment provisions, may bear interest at different rates and may otherwise
vary, all as provided in the Indenture.

Certain Definitions

Calculation Agent:........... means Bear, Stearns & Co. Inc.

Index Business Day:.......... means a day, as determined by the Calculation
                              Agent, on which the New York Stock Exchange (the
                              "NYSE"), the American Stock Exchange LLC (the
                              "AMEX"), the Nasdaq National Market, the Chicago
                              Mercantile Exchange and the Chicago Board Options
                              Exchange are open for trading (or would have been
                              open for trading, but for the occurrence of a
                              market disruption event) and the Dow Jones
                              Industrial Average or any successor index (as
                              defined below) is calculated and published. The
                              Calculation Agent may, in its sole discretion, add
                              to or delete from the definition of "Index
                              Business Day" any major US exchange or market
                              which commences or ceases to serve as a primary
                              exchange or market upon which a stock underlying
                              the Dow Jones

                                      -4-
<PAGE>

                              Industrial Average trades, or as an exchange upon
                              which a futures contract, an option contract, or
                              an option on a futures contract relating to the
                              Dow Jones Industrial Average trades.

Initial Index Value:......... means, the closing level of the Dow Jones
                              Industrial Average on March [ ], 2004.

Index Average:............... means, the arithmetic average of the closing
                              levels of the Dow Jones Industrial Average on each
                              Observation Date.

Dow Jones Industrial Average: means the Dow Jones Industrial Average, as
                              published by Dow Jones & Company, Inc. The Dow
                              Jones Industrial Average is maintained and
                              reviewed by the editors of The Wall Street
                              Journal.

Observation Date(s):......... means, the [ ] day of each month, subject to the
                              next succeeding Index Business Day convention,
                              starting on April [ ], 2010 and ending on March
                              [ ], 2011, subject to postponement because of a
                              market disruption event. There will be a total of
                              12 Observation Dates.

Index Percentage Change Amount

            On the maturity date, the principal amount of this Note plus the
Index Percentage Change Amount shall be paid. The Index Percentage Change Amount
shall be linked to the performance of the Dow Jones Industrial Average.

            The "Index Percentage Change Amount" shall equal the greater of (i)
zero and (ii) the principal amount of the Notes multiplied by:

            (Index Average - Initial Index Level);
            -------------------------------------
                    Initial Index Level

Discontinuance of the Dow Jones Industrial Average

            If Dow Jones & Company, Inc. discontinues publication of the Dow
Jones Industrial Average and Dow Jones & Company, Inc. or another entity
publishes a successor or substitute index that the Calculation Agent determines,
in its sole discretion, to be comparable to the discontinued Dow Jones
Industrial Average, then the Index Average will be determined by reference to
the level of such successor index at the close of trading on the NYSE, the AMEX,
the Nasdaq National Market or the relevant exchange or market for the successor
index on the date that the Index Average is to be determined.

            Upon any selection by the Calculation Agent of a successor index,
the Calculation Agent will cause notice to be furnished to the Company and the
Trustee, who will provide notice of the selection of the successor index to the
registered holders of the Notes.

                                      -5-
<PAGE>

            If Dow Jones & Company, Inc. discontinues publication of the Dow
Jones Industrial Average prior to, and such discontinuance is continuing on, the
date that the Index Average is to be determined and the Calculation Agent
determines that no successor index is available at such time, then, on such
date, the Calculation Agent will determine the Index Average. The Index Average
will be computed by the Calculation Agent in accordance with the formula for and
method of calculating the Dow Jones Industrial Average last in effect prior to
such discontinuance, using the closing level (or, if trading in the relevant
securities has been materially suspended or materially limited, its good faith
estimate of the closing level that would have prevailed but for such suspension
or limitation) at the close of the principal trading session on such date of
each security most recently comprising the Dow Jones Industrial Average on the
primary organized US exchange or trading system on which such securities trade.
"Closing level" means the last reported level of the Dow Jones Industrial
Average at 4:00 p.m., New York City time.

            If a successor index is selected, or the Calculation Agent
calculates a value as a substitute for the Dow Jones Industrial Average as
described above, the successor index or value will be substituted for the Dow
Jones Industrial Average for all purposes, including for purposes of determining
whether an Index Business Day or market disruption event has occurred.

Adjustments to the Dow Jones Industrial Average

            If, at any time, the method of calculating the Dow Jones Industrial
Average or a successor index, or the Index Average thereof, is changed in any
material respect, or if the Dow Jones Industrial Average or a successor index is
in any other way modified so that such index does not, in the opinion of the
Calculation Agent, fairly represent the level of the Dow Jones Industrial
Average or such successor index had such changes or modifications not been made,
then, from and after such time, the Calculation Agent will, at the close of
business in New York City on the date that the Index Average is to be
determined, make such calculations and adjustments as, in the sole discretion of
the Calculation Agent, may be necessary in order to arrive at a level of a stock
index comparable to the Dow Jones Industrial Average or such successor index, as
the case may be, as if such changes or modifications had not been made. The
Calculation Agent will calculate the Index Average with reference to the Dow
Jones Industrial Average or such successor index, as adjusted. If the method of
calculating the Dow Jones Industrial Average or a successor index is modified so
that the level of such index is a fraction of what it would have been if it had
not been modified (for example, due to a split in such index), then the
Calculation Agent will adjust such index in order to arrive at a level of the
Dow Jones Industrial Average or such successor index as if it had not been
modified (for example, as if such split had not occurred).

Market Disruption Events

            If there is a market disruption event on any Observation Date, the
Observation Date will be the first succeeding Index Business Day on which there
is no market disruption event, unless there is a market disruption event on each
of the five Index Business Days following the original date that, but for the
market disruption event, would have been the Observation Date. In that case, the
fifth Index Business Day will be deemed to be the Observation Date,
notwithstanding the market disruption event and the Calculation Agent will

                                      -6-
<PAGE>

determine the level of the Dow Jones Industrial Average on that fifth Index
Business Day in accordance with the formula for and method of calculating the
Dow Jones Industrial Average in effect prior to the market disruption event
using the exchange traded price of each security in the Dow Jones Industrial
Average (or, if trading in any such security has been materially suspended or
materially limited, the Calculation Agent's good faith estimate of the exchange
traded price that would have prevailed but for such suspension or limitation) as
of that fifth Index Business Day.

            A market disruption event means either of the following events, as
determined by the Calculation Agent, in its sole discretion:

      o     the suspension of or material limitation on trading for more than
            two hours of trading, or during the one-half hour period preceding
            the close of trading on the applicable exchange in 20% or more of
            the stocks which then comprise the Dow Jones Industrial Average, or
            any successor index (without taking into account any extended or
            after-hours trading session); or

      o     the suspension of or material limitation on trading, in each case,
            for more than two hours of trading, or during the one-half hour
            period preceding the close of trading, on the applicable exchange,
            whether by reason of movements in price otherwise exceeding levels
            permitted by the relevant exchange or otherwise, in option contracts
            or futures contracts related to the Dow Jones Industrial Average, or
            any successor index, which are traded on any major US exchange.

                  For the purpose of the above definition:

      a)    a limitation on the hours in a trading day and/or number of days of
            trading will not constitute a market disruption event if it results
            from an announced change in the regular business hours of the
            relevant exchange, and

      b)    for the purpose of clause (a) above, any limitations on trading
            during significant market fluctuations under NYSE Rule 80A, or any
            applicable rule or regulation enacted or promulgated by the NYSE or
            any other self regulatory organization or the Securities and
            Exchange Commission of similar scope as determined by the
            Calculation Agent, will be considered "material".

Redemption; Defeasance

            The Notes are not subject to redemption before Maturity, and are not
subject to defeasance.

Events of Default and Acceleration

            If an Event of Default with respect to any Notes has occurred and is
continuing, then the amount payable to the beneficial owner of a Note, upon any
acceleration permitted by the Notes will be equal to:

      o     the principal amount, plus

                                      -7-
<PAGE>

      o     an Index Percentage Change Amount calculated as though the date of
            early repayment were the maturity date of the Notes.

Same-Day Settlement and Payment

            Settlement for the Notes will be made by Bear Stearns in immediately
available funds. All payments of principal and any Index Percentage Change
Amount will be made in immediately available funds, so long as the Notes are
maintained in book-entry form.

Calculation Agent

            All determinations made by the Calculation Agent will be at the sole
discretion of the Calculation Agent and will, in the absence of manifest error,
be conclusive for all purposes and binding on the Company and holders of the
Notes.

General

            If so specified on the face of this Note, this Note may be redeemed
by the Company on and after the date so indicated on the face hereof. If no such
date is set forth on the face hereof, this Note may not be redeemed prior to
Maturity. On and after such date, if any, from which this Note may be redeemed,
this Note may be redeemed in whole or in part in increments of $1,000, at the
option of the Company, at a redemption price equal to 100% of the principal
amount to be redeemed, together with interest thereon payable to the Redemption
Date, on notice given not more than 60 nor less than 30 days prior to the
Redemption Date. If less than all the Outstanding Notes having such terms as
specified by the Company are to be redeemed, the particular Notes to be redeemed
shall be selected by the Trustee not more than 60 days prior to the Redemption
Date from the Outstanding Notes having such terms as specified by the Company
not previously called for redemption, by such method as the Trustee shall deem
fair and appropriate. The notice of such redemption shall specify which Notes
are to be redeemed. In the event of redemption of this Note, in part only, a new
Note or Notes in authorized denominations for the unredeemed portion hereof
shall be issued in the name of the Holder hereof upon the surrender hereof.

            If so specified on the face of this Note, this Note will be subject
to repayment at the option of the Holder hereof on the Optional Repayment
Date(s). If no Optional Repayment Date is set forth on the face hereof, this
Note may not be repaid at the option of the Holder prior to Maturity. On and
after the Optional Repayment Date, if any, from which this Note may be repaid at
the option of the Holder, this Note shall be repayable in whole or in part in
increments of $1,000 at a repayment price equal to 100% of the principal amount
to be repaid, together with interest thereon payable to the Optional Repayment
Date. For this Note to be repaid in whole or in part at the option of the Holder
hereof, the Trustee must receive not less than 30 nor more than 60 days prior to
the Optional Repayment Date (i) this Note with the form entitled "Option to
Elect Repayment," which appears below, duly completed or (ii) a telegram, telex,
facsimile transmission or a letter from a member of a national securities
exchange or the National Association of Securities Dealers, Inc. or a commercial
bank or trust company in the United States of America setting forth the name of
the Holder of this Note, the principal amount of this Note, the certificate
number of this Note or a description of this Note's tenor or terms, the
principal amount of this Note to be repaid, a statement that the option to elect
repayment is being exercised thereby and a guarantee that this Note with the
form entitled "Option to Elect

                                      -8-
<PAGE>

Repayment," which appears below, duly completed, will be received by the Trustee
no later than five Business Days after the date of such telegram, telex,
facsimile transmission or letter and this Note and such form duly completed are
received by the Trustee by such fifth Business Day. Exercise of the repayment
option shall be irrevocable.

            If any Event of Default with respect to the Notes shall occur and be
continuing, the Trustee or the Holders of not less than 25% in principal amount
of the Outstanding Notes may declare the principal of all the Notes due and
payable in the manner and with the effect provided in the Indenture.

            The Indenture permits, with certain exceptions as therein provided,
the amendment thereof and the modification of the rights and obligations of the
Company and the rights of the Holders of the Securities of each series to be
affected under the Indenture at any time by the Company and the Trustee with the
consent of the Holders of 66-2/3% in aggregate principal amount of the
Securities at the time Outstanding of each series affected thereby. The
Indenture also contains provisions permitting the Holders of specified
percentages in aggregate principal amount of the Securities of each series at
the time Outstanding, on behalf of the Holders of all Securities of each series,
to waive compliance by the Company with certain provisions of the Indenture and
certain past defaults under the Indenture and their consequences. Any such
consent or waiver by the Holder of this Note shall be conclusive and binding
upon such Holder and upon future Holders of this Note and of any Note issued
upon the registration of transfer hereof or in exchange hereof or in lieu hereof
whether or not notation of such consent or waiver is made upon this Note.

            Holders of Securities may not enforce their rights pursuant to the
Indenture or the Securities except as provided in the Indenture. No reference
herein to the Indenture and no provision of this Note or the Indenture shall
alter or impair the obligation of the Company, which is absolute and
unconditional, to pay the principal of this Note and the Index Percentage Change
Amount with respect to this Note at the time, place, and rate, and in the coin
or currency, herein prescribed.

            As provided in the Indenture and subject to certain limitations
therein set forth, the transfer of this Note may be registered on the Security
Register of the Company, upon surrender of this Note for registration of
transfer at the office or agency of the Company in the Borough of Manhattan, The
City of New York, duly endorsed by, or accompanied by a written instrument of
transfer in form satisfactory to the Company, and this Note duly executed by,
the Holder hereof or by his attorney duly authorized in writing and thereupon
one or more new Notes, of authorized denominations and for the same aggregate
principal amount, will be issued to the designated transferee or transferees.

            The Notes are issuable only in registered form without coupons in
denominations of $1,000 or any amount in excess thereof which is an integral
multiple of $1,000. As provided in the Indenture and subject to certain
limitations therein set forth, this Note is exchangeable for a like aggregate
principal amount of Notes of different authorized denomination as requested by
the Holder surrendering the same.

                                      -9-
<PAGE>

            No service charge will be made for any such registration of transfer
or exchange, but the Company may require payment of a sum sufficient to cover
any tax or other governmental charge payable in connection therewith.

            Prior to the due presentment of this Note for registration of
transfer, the Company, the Trustee and any agent of the Company or the Trustee
may treat the Person in whose name this Note is registered as the owner hereof
for all purposes, whether or not this Note be overdue, and neither the Company,
the Trustee nor any such agent shall be affected by notice of the contrary.

            The Index Percentage Change Amount payable with respect to this Note
shall in no event be higher than the maximum rate, if any, permitted by
applicable law.

            All capitalized terms used in this Note and not otherwise defined
herein shall have the meanings assigned to them in the Indenture.

                                      -10-
<PAGE>

                     ------------------------------------

                                  ABBREVIATIONS

The following abbreviations, when used in the inscription on the face of this
instrument, shall be construed as though they were written out in full according
to applicable laws or regulations:

TEN COM           -           as tenants in common

TEN ENT           -           as tenants by the entireties

JT TEN            -           as joint tenants with right of survivorship and
                              not as tenants in common

UNIF GIFT MIN ACT -           ___________________Custodian______________________
                                     (Cust)                       (Minor)
                                     Under Uniform Gifts to Minors Act

                              __________________________________________________
                                                 (State)

Additional abbreviations may also be used though not in the above list.

                      ------------------------------------

                            OPTION TO ELECT REPAYMENT

            The undersigned hereby irrevocably request(s) and instruct(s) the
Company to repay this Note (or portion thereof specified below) pursuant to its
terms on ____________, 20___ (the "Optional Repayment Date") at a price equal to
the principal amount thereof, together with interest to the Optional Repayment
Date, to the undersigned at

________________________________________________________________________________

________________________________________________________________________________
       (Please print or typewrite name and address of the undersigned.)

            For this Note to be repaid the Trustee must receive at 4 New York
Plaza, New York, New York 10004, Attention: Debt Operations -- 15th Floor, or at
such other place or places of which the Company shall from time to time notify
the Holder of this Note, not more than 60 days nor less than 30 days prior to
the Optional Repayment Date, this Note with this "Option to Elect Repayment"
form duly completed.

                                      -11-
<PAGE>

                                   ASSIGNMENT

                       FOR VALUE RECEIVED, the undersigned
                 hereby sell(s), assign(s) and transfer(s) unto

________________________________________________________________________________
PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF
ASSIGNEE

________________________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________
PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS INCLUDING POSTAL ZIP
CODE OF ASSIGNEE

________________________________________________________________________________
the within Note and all rights thereunder, hereby irrevocably constituting and
appointing _____________________________________________________________________

________________________________________________________________________________

_______________________________________________________________________ Attorney
to transfer said Note on the books of the Company, with full power of
substitution in the premises.

Dated:_______________________       ____________________________________________

____________________________________
       (Signature Guarantee)

                                      -12-THIS DEBT SETTLEMENT AGREEMENT made the 11th day of March, 2004

B E T W E E N:

         DIALEX MINERALS INC., (the "Corporation") a company  incorporated under
         the laws of the State of Nevada

                                                            OF THE FIRST PART

AND

         KIRK BOYD, ("Boyd") an individual residing in the Province of Ontario

                                                            OF THE SECOND PART

WHEREAS the  Corporation  is indebted  (the "Debt") to Boyd in the amount of CDN
$80,584 pursuant to invoices for management and consulting  services provided to
the Corporation by Boyd for the period ending March 31, 2004;

AND WHEREAS the parties hereto wish to settle the Debt by having the Corporation
issue common shares from treasury to Boyd;

NOW THEREFORE THIS AGREEMENT  WITNESSETH that in  consideration  of the premises
and the mutual  promises  and  agreements  herein  contained  (the  receipt  and
sufficiency  of which  are  hereby  acknowledged  by each of the  parties),  the
parties hereto covenant and agree as follows:

1. Subject to  regulatory  approval,  Boyd hereby  agrees to convert the Debt by
subscribing  for 805,840 common shares of the  Corporation at price of CDN $0.10
per share (the "Settlement Shares"),  being $80,584 in the aggregate, and hereby
remise,  release and  forever  discharge  the  Corporation  from the Debt,  said
release and discharge to be in the form of Schedule "A" annexed hereto.

2.  Subject to  regulatory  approval,  the  Corporation  hereby  agrees  that in
consideration  of the  release  of the  Debt,  it  shall  allot  and  issue  the
Settlement Shares to Kirk Boyd, said Settlement Shares to be issued at a paid up
capital  price of CDN $0.10 per share.  The  Settlement  Shares are to be issued
under the Securities Act of 1933 pursuant to registration with the United States
Securities and Exchange Commission on Form S-8.

3. It is further  acknowledged  by the  parties  that the  participation  of the
Parties hereto is voluntary.

4. The parties hereto agree that the covenants contained herein shall be binding
upon their respective heirs, executors, administrators and assigns.

5. This Agreement shall be governed by and construed in accordance with the laws
of the Province of Ontario and the federal laws of Canada applicable therein.

                                       1
<PAGE>

6.  This  Agreement  and  the  schedules  annexed  hereto  supersede  all  prior
negotiations,  undertakings  and agreements  between the parties with respect to
the subject matter hereof,  and this Agreement and its schedules  constitute the
entire agreement of the parties respecting the matters herein contained.

7. No  amendment,  modification,  alteration,  or  waiver  of the  terms of this
Agreement  shall be binding  unless made in writing and  executed by the parties
hereto or their successors or assigns.

8.  This  Agreement  may  be  executed  by the  parties  hereto  in one or  more
counterparts by original or facsimile signature,  each of which when so executed
shall be deemed an original and all of which together  shall  constitute one and
the same instrument.

IN WITNESS  WHEREOF this  Agreement has been executed  under seal by the parties
hereto as of the day and year first above written.

SIGNED, SEALED AND DELIVERED         )
         in the presence of          )    DIALEX MINERALS INC.
                                     )
                                     )
                                     )
                                     )
                                     ) Per: Alexander Stewart c/s
                                     ) ----------------------------------------
                                     )      ALEXANDER STEWART, President
                                     ) I have authority to bind the corporation.
                                     )
                                     )
                                     )
                                     )
                                     ) Per:
                                     )
Witness (signature)                  )
                                     )
                                     )
-------------------------------------) --------------------------------
Name of witness (pleaseprint)               KIRK BOYD

                                       2
<PAGE>

                                  SCHEDULE "A"

                          RELEASE and DISCHARGE OF DEBT

TO:      DIALEX MINERALS INC. (the "Corporation")

FROM:    KIRK BOYD

IN CONSIDERATION of the issuance of 805,840 common shares of the Corporation, in
accordance  with  an  agreement  dated  as  of  the  date  hereof,  between  the
Corporation and the undersigned,  the undersigned  hereby remises,  releases and
forever  discharges the Corporation from its obligation to pay a debt of $80,584
owed to the undersigned.

DATED this 11th day of March, 2004.

SIGNED, SEALED AND DELIVERED         )
   in the presence of                )
                                     )
                                     )
                                     )      Per:   /s/ Kirk Boyd
------------------------------       )          -------------------------------
Witness (signature)                  )             KIRK BOYD
                                     )
------------------------------       )
Name of witness (please print)       )

                                       3

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