Document:

ADVERTISING AND PROMOTION AGREEMENT

This Advertising and Promotion Agreement ("Agreement") is entered into
as of June 13, 2000 by and between Pure Steel Custom Cycles, Inc., an
Arizona corporation ("Advertisee'), AZPB Limited Partnership, a
Delaware limited partnership, dba Arizona Diamondbacks ("Team"), and
AZPB REM Limited Partnership, a Delaware limited partnership ("Real
Estate Manager").

RECITALS

A. Team owns and operates a Major League Baseball ("MLB") franchise
known as the Arizona Diamondbacks, which plays its home games at Bank
One Ballpark  ("Ballpark").
B. Real Estate Manager, a related entity controlled by Team, controls
signage and other advertising at the Ballpark.
C. Team produces and distributes the Diamondbacks Magazine/Game
Program.
D. Team has developed and utilizes a BOB cat mascot ("Mascot"), which
will appear and perform at most, if not all, home baseball games
played by Team.
E. Advertiser wishes to advertise and promote its motorcycle
manufacturing business at the Ballpark and in connection with Team.

AGREEMENT
1 . Term.  The term of this Agreement shall commence July 1, 2000 and
shall terminate December 31, 2003, unless extended or sooner
terminated as provided herein ("Term").

2. Payments.
2.1. Annual Fee.  For the rights described in this Agreement,
Advertiser shall pay Team as follows for each year of the Term:
2.1.1. 2000 Season. $7,500, billed in three (3) equal installments of
$2,500 on July 1, August 1 and September 1, 2000.
2.1.2 2001 Season. $15,000, billed in eight (8) equal installments of
$1,875 on the first day of each month beginning on February 1, 2001,
and ending on September 1, 2001.
2.1.3. 2002 Season. $20,000, billed in eight (8) equal installments of
$2,500 on the first day of each month beginning on February 1, 2002,
and ending on September 1, 2002.
2.1.4 2003 Season. $25,000 (net), billed in eight (8) equal
installments of $3,125 on the first day of each month beginni6g
February 1, 2003, and ending on September 1, 2003.

All payment amounts are net of agency commissions, if any.  Team will
send an invoice to Advertiser, and payment will be due twenty (20)
days after the date of invoice.  Should Advertiser fail to make any
payment within twenty (20) days of the invoice date, interest shall
accrue on all unpaid amounts at the rate of one and one-half percent
(1.5%) per month.

2.2 Trade.  In addition to the cash payments set forth in Section 2.1.
Advertiser shall provide the following trade items to Team during the
Term:

2.2.1. 2000 Season.  No later than July 13, 2000, Advertiser shall
provide Team with one (1) new customized Arizona Diamondbacks Pure
Steel Motorcycle ("Motorcycle"), with a minimum wholesale value of
$39,000, to be used in conjunction with the Mascot.  Upon delivery to
Team, the Motorcycle shall become and shall remain the exclusive
property of Team.

2.2.2. 2002 Season.  No later than January , 2002, Advertiser shall
provide Team with one (1) new customized Motorcycle, with a minimum
wholesale value of $39,000, to be used in conjunction with the Mascot.
Upon delivery to Team, the Motorcycle shall become and shall remain
the exclusive property of Team.

2.2.3. 2003 Season.  No later than January _, 2003, Advertiser shall
provide Team with one (1) new customized Motorcycle, with a minimum
wholesale value of $39,000, to be used in conjunction with the Mascot.
Upon delivery to Team, the Motorcycle shall become and shall remain
the exclusive property of Team.

2.3 Other Payments.  All other payments to be made by Advertiser
hereunder, such as payments under Section 2.4, shall be invoiced in
full by Team and paid by Advertiser as provided in Section 2.1 above.

<PAGE>76

2.4 Taxes.  Any and all taxes, including sales tax, excise tax,
transaction privilege tax, property tax and other charges levied,
assessed or otherwise imposed by any federal, state or local
governmental authority (other than income taxes of Team or Real Estate
Manager) in connection with any payments hereunder, services provided
hereunder, signage or other advertising provided hereunder shall be
paid by Advertiser.

3. Advertising and Promotion.  Each year during the Term, Advertiser
shall receive the following advertising and promotion rights:
3.1 Logo Rights.  Advertiser may use the Diamondbacks name and logo
for marketing and promotional uses, subject to prior review of all
materials and written approval by Team.  Except as expressly provided
herein, Advertiser has no right to use in any way the corporate or
trade name, trademark(s), service mark(s), logo(s) or other
identification of Team (collectively, the '7eam Marks") without Team's
prior written consent.  Team grants a limited, non-exclusive license
to Advertiser for use of Team Marks directly related to the activities
described in this Agreement, provided Advertiser first obtains Team's
express written approval for any such use, and provided that all such
uses must be within Team's Home Television Territory only.  All Team
Marks are and shall remain the property of Team and any and all rights
therein shall inure to the benefit of and be the exclusive property of
Team.  Advertiser's right to use Team Marks cannot be assigned or
transferred and is for the term of this Agreement only.  Team marks
may not be used on Advertise s web site or other Interactive Media.
3.2 Print.  During the 2000 Season, Advertiser will receive one (1)
full page, four-color advertisement in the remaining three (3) issues
of the Arizona Diamondbacks Magazine/Game Program, beginning with the
August 2000 issue.  Each Season during the remainder of the Term,
Advertiser will receive one (1) full page, four-color advertisement in
all nine (9) issues of the Arizona Diamondbacks Magazine/Program,
beginning with the January issue each preceding each Season.

3.3 Mascot.  During the 2000 Season, Advertiser will receive exposure
in conjunction with the Mascot.

3.4 Motorcycle Showcase.  During the 2001, 2002 and 2003 Seasons, the
Motorcycle will be "Showcased" (ridden around the dirt track of the
Ballpark by the Mascot, along with a Public Address System
Announcement and color matrix presentation) at a minimum of thirty
(30) games during the regular season of play, games to be determined
by Team in conjunction with Advertiser.

3.5  Motorcycle Display.  During the 2001, 2002 and 2003 Seasons, the
Motorcycle will be displayed on the Main Plaza of the Ballpark at a
minimum of twenty-five (25) regular season games (including the Pure
Steel Motorcycle Company display one (1) time per month on the
Northeast Plaza of the Ballpark), details and games to be determined
by Team in conjunction with Advertiser.

3.5 Season Tickets.  Advertiser will receive two (2) season tickets
for regular season games in the lower level of the Ballpark in a
location determined by Team.  Such tickets (or comparable tickets) for
post-season games may be purchased by Advertiser at face value.
Advertiser will have no rights to such tickets after the Term of this
Agreement.

4. Standards.  The design, layout, format 'and content of all
advertising hereunder shall be subject to approval by Team.  Team
reserves the right to disapprove any advertising which Team determines
fails to conform to quality advertising standards, is in poor taste or
is otherwise objectionable.

5. MLB Subservience Requirements. Notwithstanding any other provision
of this Agreement:

5.1. This Agreement and the rights, exclusivities and protections
granted by Team to Advertiser hereunder shall be subject to the prior
written approval of the Office of the Commissioner of Baseball and
shall in all respects be subordinate to, and shall not prevent the
issuance, entering into, or amendment of, any of the following, each
as may be issued, entered into or amended from time to time
(collectively, the "MLB Documents"): (i) any present or future
agreements or arrangements regarding the telecast, broadcast,
recording (audio or visual), or other transmission or retransmission
(including, but not limited to, transmission via the Internet or any
other medium of interactive communication, now known or hereafter

<PAGE>77

developed) of Major League Baseball games, and/or the accounts and
descriptions thereof, entered into with third parties by any of the
Office of the Commissioner of Baseball, the American and National
Leagues of Professional Baseball Clubs, Major League Baseball
Enterprises, Inc., Major League Baseball Properties, Inc., Major
League Baseball Properties Canada Inc., Baseball Television, Inc.,
and/or any of their respective present or future affiliates, assigns
or successors (collectively, the "MLB Entities"), either on its own
behalf or on behalf of the Major League Baseball Clubs and/or other
MLB Entities; (ii) any other present or future agreements or
arrangements entered into with third parties by, or on behalf of, any
of the MLB Entities, including, without limitation, those relating to
ticketing, e-commerce, and/or the exploitation of intellectual
property rights in any medium, including the Internet or any other
medium of interactive communication; (iii) any present or future
agreements or arrangements entered into by Team with the other Major
League Baseball Clu,6s and/or one or more of the MLB Entities
(including, without limitation, the Major League Constitution and each
agency agreement and operating guidelines among the Major League
Baseball Clubs and an MLB Entity); and (iv) the applicable rules,
regulations, policies, bulletins or directives issued or adopted
either by the Commissioner or otherwise pursuant to the Major League
Constitution or any such agency agreement.  Team and Advertiser shall
each comply with all applicable terms, conditions and requirements
contained in the MLB Documents with respect to the subject matter of
this Agreement.

5.2. The territory within which Advertiser is granted rights hereunder
cannot extend beyond the Home Television Territory of Team, as
established and amended from time to time pursuant to the MLB
Documents.  Nothing herein shall be construed as conferring on
advertiser rights in areas outside of Team 's Home Television
Territory.

5.3. Team shall have the right, at no cost or liability to it or any
other club or MLB Entity, to terminate this Agreement at any time
Advertiser breaches its obligations under Section 5.1 or 5.2 above.
The right to terminate shall be exercisable by delivering written
notice to Advertiser within 30 days after Team obtains actual
knowledge that such breach or retransmission has occurred and the
effective date of such termination shall be no more than 30 days after
the date such notice is given, as specified by Team in such notice.

5.4. In addition, Team shall have the right to terminate immediately
any right or obligation in this Agreement involving "Interactive
Media," upon thirty (30) days' written notice, at no cost or liability
to Team, any other club, or any MLB Entity.  For purposes of this
provision, interactive Media" shall mean (i) the Internet or any other
on-line system or computer network; (ii) any interactive wireless
service, including any interactive microwave or cellular service;
(iii) any interactive satellite service; (iv) any interactive
broadcast television, broadcast radio or cable television service; and
(v) any other medium of interactive communication now known or
hereafter devised.

5.5. Any rights granted or obligations undertaken by Team herein
relating to the advertising or promotion of any on-line system,
computer network or interactive media-related services or other on-
line specific goods, services or brands shall expire no later than
October 31, 2000.

6. Indemnification.

6.1. Advertiser.  Advertiser at its own expense shall defend,
indemnify and hold Team, Real Estate Manager and Premier Sports
Marketing (Team's advertising consultant), and their respective
successors, assigns, officers, directors, employees and agents
harmless from all claims, demands, suits, actions, proceedings,
losses, fines, expenses, costs, and damages of every kind and
description,' including reasonable attorneys' fees and litigation
expenses, which may be brought or made against or incurred by Team,
Real Estate Manager or Premier Sports Marketing, arising out of: (i)
the use of any trademark, copyright or other intellectual property
right arising out of, or connected with any advertising copy or
signage provided by Advertiser, or (ii) the accuracy, character, form
and subject matter of any advertising copy or signage provided by
Advertiser hereunder.  Team and Real Estate Manager acknowledge and
agree that all advertising material submitted by Advertiser is the

<PAGE>78

property of Advertiser and shall not be altered or edited in any way
without the express written consent of advertiser.  This indemnity
shall have no force or effect if the advertising copy or signage is
altered or edited by any party not authorized by Advertiser.
6.2. Mutual.  The parties shall each indemnify, defend and save
harmless the others from any claims, actions, damages, losses or
expenses made against or suffered by the others because of or based
upon the indemnifying party's (or its employees' or agents')
misrepresentations, negligence, unlawful act or omission, or failure
to perform any obligation under this Agreement.

7. Default and Remedies.

7.1. Default.  If (i) any party fails to pay any fees or other sums
when due under this Agreement, (ii) any party fails to comply with or
perform any of the provisions of this Agreement, or (iii) a petition
is filed by or against any party under any foreign, federal or state
statute (including, without limitation, Title 1 1 of the United States
Code) for the benefit of creditors such as debt adjustment,
liquidation, winding up, dissolution, reorganization or bankruptcy, or
a custodian (as defined in 1 1 U.S.C. section 101), receiver or liquidator
takes charge of any of any party's property, whether by judicial
appointment, agreement or operation of law; then such party shall be
in default of this Agreement.  However, if the non-defaulting party is
not precluded by law from issuing notice of the default, the
defaulting party shall have 1 0 days after written notice is given
within which to cure the default.

7.2. Team and Real Estate Manager Remedies.  In the event of a default
by Advertiser, if pursuant to Section 6.1 a notice of default is not
required or if notice is given and the default is not cured within the
time provided, then (a) Team and Real Estate Manager shall be excused
from further performance under this Agreement, (b) Team and Real
Estate Manager may treat this Agreement as having been terminated as
of the time of default, (c) without further notice and with or without
terminating this Agreement, Team and Real Estate Manager may remove
Advertiser signage and other advertising and remarket such rights or
otherwise mitigate damages, and (d) Team and Real Estate Manager may
recover from Advertiser all losses and damages they suffer by reason
of a default, including any costs in finding a substitute Advertiser.
7.3. Advertiser Remedies.  In the event of a default by Team or Real
Estate Manager, if pursuant to Section 6.1 a notice of default is not
required or if notice is given and the default is not cured within the
time provided, Advertiser may: (i) treat the Agreement as having been
terminated as of the time of default and thus be excused from further
performance under this Agreement; or (ii) continue this Agreement and
recover all damages resulting from the default.  In no event shall
Team or Real Estate Manager be liable or responsible for any lost
income, profits or consequential damages of Advertiser or any person
or entity.

8. Force Maieure.  If a material number of Diamondbacks games cannot
be played because of fire, the elements, mob, riot, national or local
emergency, strikes, lockouts, calamity, epidemic, war, or for any
other reason outside the control of Team, at its option Team may
provide additional advertising, sponsorship or promotional rights,
provide Advertiser with a refund or rebate for missed games, or extend
the Term of this Agreement to compensate Advertiser for lost rights.

9. Governing Law and Arbitration.  This Agreement shall be governed by
Arizona law. All disputes arising under this Agreement shall be
resolved by arbitration conducted in accordance with the Commercial
Rules of the American Arbitration Association before a single
arbitrator, such arbitration to take place in Phoenix, Arizona.
However, if a party wishes to seek interim relief, whether affirmative
or prohibitive, in the form of a temporary restraining order or a
preliminary injunction or other interim equitable relief concerning
the dispute, including without limitation declaratory relief,
provisional remedies, special action relief or stay Proceedings in
connection with special action relief, either before beginning or at
any point in the arbitration proceedings concerning such dispute, such
party may initiate the appropriate litigation to obtain such relief,
which shall be subject to and controlled by the ultimate decision in
the arbitration proceedings.  The prevailing party in any arbitration
or other legal action shall be entitled to costs and reasonable
attorneys' fees.

<PAGE>78

10. Independent Contractors.  The parties are independent contractors
and shall be solely responsible for the conduct of their respective
employees and agents in connection with the performance of their
obligations under this Agreement.

11. Assignment.  No party may assign or 'transfer any of its rights or
obligations under this Agreement without the prior written consent of
all parties, provided that Team may assign this Agreement to a
transferee of Team's MLB franchise.  In addition, Team may make a
collateral assignment of its rights under this Agreement to a
financial institution ("Lender'), and Advertiser consents to the grant
by Team to Lender of a first priority security interest in the
interest of Team under this Agreement.  Upon foreclosure by Lender on
Team's interest in this Agreement (and related rights and interest) to
Lender (or other party designated by Lender), provided the transferee
succeeds to the ownership of Team's MLB franchise for Phoenix, Arizona
(as approved by MLB), and provided further that the transferee
succeeds to and performs Team's obligations to play home games at Bank
One Ballpark and honor Team's obligations under this Agreement.

12. No Waiver.  No delay of or omission in the exercise o f any right,
power or remedy accruing to any party under this Agreement shall
impair any such right, power or remedy, nor shall it be construed as a
waiver of any future exercise of any right, power or remedy.

13. Severability.  In case any provision of this Agreement shall be
invalid, illegal or unenforceable, such provision shall be severed
from this Agreement.  The validity, legality and enforceability of the
remaining provisions of this Agreement shall not in any way be
affected or impaired thereby.

14. Sophistication of Parties.  Each party to this Agreement
represents that it is a sophisticated commercial party capable of
understanding all of the terms of this Agreement, that it has had an
opportunity to review this Agreement with its counsel, and that it
enters this Agreement with full knowledge of the terms of the
Agreement.

15. Notice.  Any notices, consents or approval required or permitted
under this Agreement shall be properly given if in writing, whether
personally delivered, delivered by facsimile machine or forwarded by
mail, postage prepaid, addressed to the following addresses (or such
other addresses as may from time to time be designated in writing by
each party): To Team: Arizona Diamondbacks 401 East Jefferson Street
Phoenix, Arizona 85004 Attn: Scott Brubaker

To Real Estate Manager: AZPB REM Limited Partnership 201 East
Jefferson Third Floor Phoenix, Arizona 85004 Attn: Paige Peterson
With copies to: Gallagher & Kennedy, P.C. 2575 East Camelback Road
Phoenix, Arizona 85016-9225 Attn: Dean C. Short, II. AZPB Limited
Partnership 201 East Jefferson Fourth Floor Phoenix, Arizona 85004
Attn: Thomas F. O'Malley, III

To Advertiser: Pure Steel Custom Cycles, Inc. 4010 Grand Avenue Suite
16 Phoenix, Arizona 85019 Attn: Danny Elzy & Oscar Coca

16. Integration Clause.  This Agreement is the final, complete and
exclusive statement and expression of the agreement among the parties
hereto with relation to the subject matter of this Agreement, it being
understood that there are no oral representations, understandings or
agreements covering the same subject matter as this Agreement.  This
Agreement supersedes, and cannot be varied, contradicted or
supplemented by evidence of any prior or contemporaneous discussions,
correspondence, or oral or written agreement of any kind.
(SIGNATURES APPEAR ON THE FOLLOWING PAGE)

<PAGE>79

Team: AZPB Limited Partnership, a
Delaware limited partnership

By
Its

Real Estate Manager: AZPB REM Limited Partnership, a
Delaware limited partnership

By Richard H.  Dozer
Its President

Advertiser: Pure Steel Custom Cycles, Inc., an Arizona corporation,
By  Oscar Coca
ItsSUBSCRIPTION AGREEMENT

                          DATED AS OF JANUARY 29, 2001

                                    BETWEEN:

                           AURORA METALS (BVI) LIMITED

                                     - AND -

                               BILLITON E&D 3 B.V.

<PAGE>
                             SUBSCRIPTION AGREEMENT

THIS  AGREEMENT  is  made  as  of  the  29th  day  of  January,  2001.

BETWEEN:

          AURORA  METALS (BVI) LIMITED, a company incorporated under the laws of
          the  British  Virgin  Islands,  having  an  office at Suite 517, 2 Old
          Brompton  Road,  London,  SW7  3DQ,  United  Kingdom

          (the  "Company")

                                                               OF THE FIRST PART

AND:

          BILLITON  E&D  3  BV,  a  company  incorporated  under the laws of The
          Netherlands, having an office at Mariahoeveplein 6, 591 TV, The Hague,
          The  Netherlands

          ("Billiton")

                                                              OF THE SECOND PART

WHEREAS  Billiton  wishes  to subscribe for and purchase from the Company for an
aggregate  purchase  price  of  $600,000,  a  total  of 857,143 Units, each unit
comprised  of  one share of common stock and one purchase warrant, each purchase
warrant  having  the  terms  more  particularly  set  forth  herein;

AND  WHEREAS  the  Company  wishes to issue and sell the Units to Billiton for a
price  of  $0.70  per Unit, upon the terms and conditions hereinafter set forth;

AND  WHEREAS  the  Company  has  agreed that it will, contemporaneously with the
execution  of  this  Agreement,  enter into an Option Agreement with Billiton UK
Resources  B.V., an Affiliate of Billiton, in the form set forth in Schedule "A"
hereto.

<PAGE>
AND  WHEREAS  the  parties  have  agreed to enter into a strategic alliance with
respect  to  the  conduct  of  further  exploration  and  development of mineral
properties  in  the  Republic  of  Tunisia;

NOW  THEREFORE  THIS  AGREEMENT WITNESSETH that in consideration of the premises
and  the  covenants,  agreements,  warranties  and  payments  herein set out and
provided  for,  the  parties  hereto  hereby  respectively covenant and agree as
follows:

                            ARTICLE 1 - MISCELLANEOUS

1.1.     DEFINITIONS

Whenever  used  in  this  Agreement,  including  the recitals hereto, including,
unless  there  is  something  in  the  subject  matter  or  context inconsistent
therewith,  the  following  words  and  terms shall have the respective meanings
ascribed  to  them  as  follows:

     (a)  "IBCA"  means  the  International  Business  Corporations  Act  of the
          British  Virgin  Islands,  together  with  all regulations promulgated
          thereunder;

     (b)  "ADDITIONAL  EXPLORATION FUNDS" means an aggregate of $2,000,000 to be
          advanced  by Billiton to the Company or otherwise expended by Billiton
          pursuant  to  Section  7.3  of  the  Option  Agreement;

     (c)  "AFFILIATE" means a company that is affiliated with another company if
          one  of  them is the subsidiary of the other, or both are subsidiaries
          of the same company, or each of them is controlled by the same person,
          company,  partnership or party. In association with this definition, a
          company  is  a  subsidiary  of  another  company  if:

          (i)  it  is  controlled  by:

               (A)  that  other  company;

               (B)  that other company and one or more company, each of which is
                    controlled  by  that  other  company,  or

               (C)  two  or  more companies, each of which is controlled by that
                    other  company,  or

          (ii) it  is  a  subsidiary  of  a  subsidiary  of  that other company.

                                      -2-
<PAGE>
          In  association  with  this  definition,  a company is controlled by a
          person,  company,  partnership  or  party  if:

          (i)  shares of the company carrying more than 50% of the votes for the
               election  of  directors  are  held, other than by way of security
               only,  by or for the benefit of that person, company, partnership
               or  party,  and

          (ii) the  votes  carried  by the shares mentioned in paragraph (i) are
               sufficient, if exercised, to elect a majority of the directors of
               the  company.

     (d)  "AGREEMENT"  means this agreement and all schedules annexed hereto and
          any  amendment  hereto  or any modifications hereof made in accordance
          with  Section  1.3  hereof, and the terms "hereto", "herein", "hereby"
          and  other  similar  terms  are  used  in reference to this Agreement;

     (e)  "ASSOCIATE" means, if used to indicate a relationship with any person,

          (i)  a  partner,  other  than  a  limited  partner,  of  that  person,

          (ii) a  trust  or  estate  in  which  that  person  has  a substantial
               beneficial interest or for which that person serves as trustee or
               in  a  similar  capacity,

          (iii)  a  company in respect of which that person beneficially owns or
               controls, directly or indirectly, voting securities carrying more
               than  10% of the voting rights attached to all outstanding voting
               securities  of  the  company,  or

          (iv) a relative, including the spouse, of that person or a relative of
               that  person's  spouse, if the relative has the same home as that
               person.

     (f)  "BUSINESS DAY" means a day other than a Saturday, Sunday or any day on
          which  chartered  banks  in  London, England are not open for business
          during  normal  banking  hours;

     (g)  "CLOSING"  means  the  completion  of  the sale to and the purchase by
          Billiton  of  the  Units  and  the  issuance  thereof  to  Billiton as
          contemplated  hereunder  and the grant of the First Property Option by
          the  Company  to Billiton UK Resources B.V., an Affiliate of Billiton,
          as  contemplated  under  the  Option  Agreement;

     (h)  "CLOSING  DATE" means the 29day of January, 2001 or such other date as
          the  parties  hereto  may  agree;

     (i)  "CLOSING  TIME"  means 10:00 a.m. (London, England time) or such later
          time  on  the  Closing  Date  as  the  parties  hereto  may  agree;

     (j)  "COMMON SHARE" means a share of common stock with a par value of $0.01
          in  the  capital  of  the  Company;

                                      -3-
<PAGE>
     (k)  "EXPLORATION EXPENDITURES" has the meaning set forth in Section 1.1(g)
          of  the  Option  Agreement;

     (l)  "FINANCIAL  STATEMENTS"  means  the  unaudited  interim  financial
          statements  of  the Company for the nine month periods ended September
          30,  2000 and 1999 and the audited financial statements of the Company
          for the three month period ended March 31, 2000 and fiscal years ended
          December  31,  1999,  1998  and  1997  as reported on by the Company's
          independent accountants, in each case consisting of the balance sheets
          and  the  statements  of  stockholders  equity and operations and cash
          flows  each  from  June  17,  1997  (inception)  to  March 31, 2000 or
          September  30,  2000,  as  applicable  and  all notes and supplemental
          information  thereto;

     (m)  "FIRST PROPERTY OPTION" has the meaning set forth in Section 1.1(h) of
          the  Option  Agreement;

     (n)  "HIGH  MARSH"  means  High Marsh Holdings Ltd., a company incorporated
          under  the  laws  of  the  British  Virgin  Islands;

     (o)  "HIGH  MARSH  OPTION"  means  the  option  granted  to  Aurora  Gold
          Corporation  by  High  Marsh pursuant to that certain mineral property
          option agreement entered into between Aurora Gold Corporation and High
          Marsh  dated  January  20,  2000, as amended by letter agreement dated
          June  19,  2000  and  further  amended  by  agreements  made as of and
          effective  July  28,  2000  and  January 25, 2001, a copy of which, as
          amended,  is  attached  hereto as Schedule "D", and transferred to the
          Company by Aurora Gold Corporation by transfer agreement dated May 18,
          2000  between Aurora Gold Corporation and the Company, a copy of which
          is  attached  hereto  as  Schedule  "E";

     (p)  "INDEMNIFYING  PARTY"  and "INDEMNIFIED PARTY" shall have the meanings
          ascribed  to  them,  respectively,  in  Section  5.5  hereof;

     (q)  "INTEREST" means, without limitation, a legal, beneficial or equitable
          interest,  whether  direct,  indirect,  contingent  or  otherwise;

     (r)  "OPTION AGREEMENT" means the Option Agreement dated the date hereof to
          be entered into between the Company and Billiton UK Resources B.V., an
          Affiliate of Billiton, which agreement will be in the form attached as
          Schedule  "A"  hereto;

     (s)  "OPTIONED  PROPERTIES"  has the meaning set forth in Section 1.1(m) of
          the  Option  Agreement;

     (t)  "OTCBB"  means  the  over  the  counter bulletin board operated by the
          National  Association  of  Securities  Dealers  Inc.;

     (u)  "PROGRAM  AND  BUDGET"  means  (i)  the exploration program and budget
          related  to  the  expenditures  of  the Unit Proceeds, as set forth in
          Schedule  "C"  hereto;  or  (ii)  the  exploration  program and budget
          related  to  the  expenditure  of the Additional Exploration Funds, as
          determined  in accordance with Section 7.3 of the Option Agreement, as
          applicable;

                                      -4-
<PAGE>
     (v)  "SECURITIES"  has  the  meaning  set  forth  in Section 6.4(a) of this
          Agreement;

     (w)  "SHARES"  means,  collectively,  the  Common  Shares  comprised in the
          Units,  and  the  Common  Shares issuable on exercise of the Warrants;

     (x)  the  phrase "TO THE BEST OF OUR KNOWLEDGE" or similar such expressions
          means  to  the  best  of  the  knowledge  of such person(s), after due
          enquiry  by  them/him;

     (y)  "UNIT  PROCEEDS"  means $600,000, being the aggregate price payable by
          Billiton  to  the  Company  in  consideration  for the issuance by the
          Company  to  Billiton  of  the  Units;

     (z)  "UNITS"  means an aggregate of 857,143 units of the Company, each unit
          comprised  of  one  Common  Share  and  one  Warrant;

     (aa) "U.S.  SECURITIES ACT" means the United States Securities Act of 1933,
          as  amended;  and

     (bb) "WARRANT"  means  the  non-transferable  common share purchase warrant
          comprised  in  each  Unit,  each  such  warrant  entitling Billiton to
          acquire  one  Common  Share  at  any time prior to 5:00 p.m. (New York
          time)  on  the  first  anniversary  of  the Closing Date at a price of
          $0.85.

1.2.     GENDER  AND  NUMBER

Words  importing  the  singular  include  the  plural  and vice-versa; and words
importing  gender  include  all  genders.

1.3.     ENTIRE  AGREEMENT

This  Agreement,  together  with  any  and  all  agreements, documents and other
instruments  to be delivered pursuant thereto or simultaneously herewith (which,
for  the  purposes  of  this  Section  are  collectively  referred  to  as  the
"Agreement"),  constitutes the entire agreement between Billiton and the Company
pertaining  to  the  subject  matter hereof and supersedes all prior agreements,
understandings,  negotiations  and  discussions, whether oral or written, of and
between  the  parties  hereto,  including,  without  limitation, the non-binding
letter  of  intent  between  the  Company  and  Billiton UK Resources B.V. dated

                                      -5-
<PAGE>
February  25,  2000,  as  amended, and there are no representations, warranties,
covenants  or  other  agreements among the parties hereto in connection with the
subject  matter  hereof  except  as  specifically set forth in the Agreement. No
supplement,  modification,  waiver  or  termination  of  this Agreement shall be
binding  unless  executed in writing by the party to be bound thereby. No waiver
of  any  of  the  provisions  of  this  Agreement  shall  be  deemed to or shall
constitute  a  waiver of any other provisions (whether or not similar) nor shall
such  waiver constitute a continuing waiver unless otherwise expressly provided.

1.4.     HEADINGS

The  Articles,  Sections,  subsections  and  other headings contained herein are
included  solely  for  convenience,  are  not  intended  to  be full or accurate
descriptions  of  the  contents  hereof and shall not be considered part of this
Agreement.

1.5.     SCHEDULES

The  following Schedules attached to this Agreement are an integral part of this
Agreement:

     Schedule  "A"  -  Option  Agreement;
     Schedule  "B"  -  Outstanding  Options,  Rights,  Warrants and Obligations;
     Schedule "C" - Program and Budget-Hammala and Kebbouch District Properties;
     Schedule  "D"  -  High  Marsh  Option  Agreement;
     Schedule  "E"  -  Hammala  Transfer  Agreement;
     Schedule  "F"  -  Kebbouch  Transfer  Agreement;
     Schedule  "G"  -  Form  of  BVI  Legal  Opinion;  and
     Schedule  "H"  -  Form  of  Tunisian  Legal  Opinion.

1.6.     CURRENCY

Unless  otherwise  indicated, all dollar amounts contained in this Agreement are
and  shall  be  construed  to be in dollars in the lawful currency of the United
States.

                                      -6-
<PAGE>
1.7.     PERIOD  TERMINATING  ON  A  NON-BUSINESS  DAY

Should  the  period  of  time  permitted  under  this  Agreement  to perform any
obligation  or take any action, including the delivery of a notice, terminate on
a  day other than a Business Day, then such period shall be extended to the next
following  Business  Day.

1.8.     ILLEGALITY,  INVALIDITY,  ENFORCEABILITY,  ETC.

In  the  event  that  one or more provisions of this Agreement or any agreement,
document  or  other  instrument  required  to be delivered hereunder or pursuant
hereto  shall  be  illegal,  invalid  or  unenforceable in any respect under any
applicable  law,  the  validity,  legality  and  enforceability of the remaining
provisions  hereof  or  thereof  shall  not  be  affected  or  impaired thereby.

                       ARTICLE 2 - SUBSCRIPTION FOR UNITS

2.1.     SUBSCRIPTION  FOR  UNITS

Billiton  hereby subscribes for and agrees to purchase the Units and the Company
hereby  agrees to issue and sell the same to Billiton for the Unit Proceeds. The
Company shall issue such Units to Billiton and simultaneously therewith grant to
Billiton  UK Resources B.V., an Affiliate of Billiton, the First Property Option
pursuant to the Option Agreement on the Closing Date against receipt of the Unit
Proceeds.

                             ARTICLE 3 - CONDITIONS

3.1.     CONDITIONS  TO  BILLITON'S  OBLIGATIONS  AT  CLOSING

The  obligations of Billiton under this Agreement are subject to the fulfilment,
on  or before the Closing, of each of the following conditions, unless waived by
Billiton,  and  each of the Company and Billiton hereby agree that each of these
conditions  has been inserted into this Agreement at the request of Billiton and
for  Billiton's  own  benefit  and  that  they  may,  accordingly,  be  waived
unilaterally  by  Billiton:

                                      -7-
<PAGE>
     (a)  Representations  and Warranties. The representations and warranties of
          -------------------------------
          the Company contained in Section 5.1 hereof shall be true on and as of
          the  Closing.

     (b)  Performance.  The  Company and its management shall have performed and
          -----------
          complied  with  all  covenants, agreements, obligations and conditions
          contained  in  the  Agreement  or  in any agreement, document or other
          instrument  entered into or prepared pursuant hereto that are required
          to  be  performed  or  complied  with  by the Company on or before the
          Closing.

     (c)  Compliance  Certificate. The President of the Company shall deliver to
          -----------------------
          Billiton  at  the Closing a certificate certifying that to the best of
          such  officer's  knowledge  the  representations and warranties of the
          Company  in  Article 5 are true and correct as of the Closing Date and
          that the conditions specified in this Section 3.1 and the covenants of
          the  Company  in  Article 6 have been fulfilled and stating that there
          has  been  no  material  adverse  change  in  the  business,  affairs,
          prospects,  operations, properties, assets or condition of the Company
          since  September  30,  2000.

     (d)  Approvals.  The  Company  shall  have  obtained,  and have provided to
          ---------
          Billiton evidence of such approvals including, without limitation, any
          required approvals from the government of the Republic of Tunisia with
          respect  to  the  transfer  to  High  Marsh of the mineral exploration
          properties  contemplated  in the High Marsh Option and the transfer of
          all  Optioned  Properties other than the Hammala exploration permit to
          the  Company  and  any  required consents of High Marsh under the High
          Marsh  Option,  which  are  necessary or advisable and shall also have
          obtained  or  received,  all  governmental,  statutory, regulatory and
          judicial  courts  orders,  consents  and  approvals  necessary for the
          Closing  and  the  performance  of  its  obligations  under the Option
          Agreement.

     (e)  Proceedings  and Documents. All corporate and other proceedings on the
          --------------------------
          part  of  the Company in connection with the transactions contemplated
          by  this  Agreement  and  the  Option Agreement to occur at or to have
          occurred prior to the Closing, and the various transactions, deals and
          acts  required  or agreed to be performed by the Company in connection
          therewith,  shall  have  occurred  on  or  before  the Closing and all
          documents  incidental thereto shall be reasonably satisfactory in form
          and  substance  to  Billiton  and  Billiton's  counsel, who shall have
          received  all such counterpart, original and certified or other copies
          of  such  documents  as  they  may  reasonably  request.

     (f)  Opinion  of  Company's  Counsel.  Billiton  shall  have received legal
          -------------------------------
          opinions  from Harney Westwood & Riegels, counsel for the Company, and
          Samir  Abdelly  Law  Firm,  Tunisian  counsel  to  the  Company, which
          opinions  shall  be substantially in form attached as Schedule "G" and
          "H"  hereto.

                                      -8-
<PAGE>
3.2.     CONDITIONS  OF  THE  COMPANY'S  OBLIGATIONS  ON  CLOSING

The  obligations  of  the  Company  under  this  Agreement  are  subject  to the
fulfilment  on  or  before  the  Closing  of  each  of the following conditions:

     (a)  Representations  and Warranties. The representations and warranties of
          -------------------------------
          Billiton contained in Section 5.2 below shall be true on and as of the
          date  of  such  Closing.

     (b)  Proceedings  and Documents. All corporate and other proceedings on the
          --------------------------
          part  of  Billiton in connection with the transactions contemplated by
          this  Agreement  and  the  Option  Agreement  to  occur  at or to have
          occurred  prior to the Closing and the various transactions, deals and
          acts  required  or  agreed  to  be performed by Billiton in connection
          therewith  shall  have  occurred  on  or  before  the  Closing and all
          documents incident thereto shall be satisfactory in form and substance
          to  the Company and the Company's counsel, who shall have received all
          such  counterpart,  original  and  certified  or  other copies of such
          documents  as  they  may  reasonably  request.

     (c)  Performance.  Billiton  shall  have  performed  and  complied with all
          -----------
          agreements,  obligations  and  conditions  contained in this Agreement
          that  are  required to be performed or complied with by Billiton on or
          before  the  Closing.

                               ARTICLE 4 - CLOSING

4.1.     CLOSING  TIME

The  Closing  of  the transactions contemplated hereby shall be completed at the
offices  of  McCarthy  T  trault, 1300 - 777 Dunsmuir Street, Vancouver, British
Columbia  at  the  Closing  Time.

4.2.     CLOSING  ARRANGEMENTS

At  the  Closing  Time,

     (a)  Billiton  shall  deliver  or  cause  to  be delivered to the Company a
          cheque  made  payable  to  the  Company  on  the  Closing  Date in the
          aggregate  amount  of  the  Unit  Proceeds;

     (b)  the  Company  shall  deliver  or cause to be delivered, to or upon the
          direction of Billiton one or more certificates representing the Common
          Shares  and  Warrants  comprised in the Units purchased at the Closing
          Time registered in such manner as Billiton shall notify the Company by
          written  direction  prior  to  the  Closing  Time;  and

                                      -9-
<PAGE>
     (c)  the  Company  shall  also deliver or cause to be delivered to Billiton
          the  requisite certificates, opinions and other documents contemplated
          hereby  and  shall  deliver  to  Billiton UK Resources B.V. the Option
          Agreement  duly  and  validly  executed  by  the  Company  granting to
          Billiton  UK  Resources  B.V.  an  option  on the Optioned Properties.

                   ARTICLE 5 - REPRESENTATIONS AND WARRANTIES

5.1.     REPRESENTATIONS  AND  WARRANTIES  OF  THE  COMPANY

The  Company  represents and warrants to Billiton and acknowledges that Billiton
is  relying  upon  such  representations  and  warranties  in entering into this
Agreement  and  purchasing  the  Units  that:

     (a)  the  Company  has  been duly incorporated and organized and is validly
          existing  under  the laws of the jurisdiction of its incorporation and
          has  all requisite corporate capacity, power and authority to carry on
          its business as now conducted by it and as is presently proposed to be
          conducted  by  it  and  to  own,  lease  and  operate  its  assets;

     (b)  the  Company  has  no  subsidiaries;

     (c)  the  Company  is duly qualified to carry on business under the laws of
          the  jurisdictions  in which it carries on its business and is in good
          standing  in  each  of  such  jurisdictions;

     (d)  the Company has conducted and is conducting its business in compliance
          in  all  respects  with  all  applicable  licensing  and environmental
          protection  legislation,  regulations  or  by-laws  or  other  similar
          legislation,  laws,  by-laws,  rules  and  regulations  or  the lawful
          requirements  of  any governmental or regulatory bodies and has not at
          any  time  and  is  not  presently  emitting,  depositing,  issuing or
          otherwise  discharging, or allowing the emission, deposit, issuance or
          other  discharge of any contaminant in the environment in violation of
          federal,  provincial,  municipal,  local  or  foreign  law,  statutes,
          regulations,  by-laws,  decrees,  rules,  policies,  directives,
          guidelines,  orders,  permits,  licenses, certificates, approvals, and
          authorizations  of  or  applicable  to  the Company, its properties or
          activities;

     (e)  the  Company is not aware of any licensing or environmental protection
          legislation,  regulation,  by-law  or  lawful requirement presently in
          force  or  proposed  to  be  brought  into  force  which  the  Company
          anticipates  that  it will be unable to comply with without materially
          adversely  affecting  its  financial condition, results of operations,
          business  or  prospects  in each jurisdiction in which its business is
          carried  on;

                                      -10-
<PAGE>
     (f)  no  consent,  approval, permit, authorization, order of or filing with
          any  court  or  governmental agency or body is required by the Company
          for  the  execution and delivery of and the performance by the Company
          of  its  obligations  under  this  Agreement  or the Option Agreement;

     (g)  other  than  as  set forth in Schedule "A" to the Option Agreement, to
          the  best  of  the  knowledge  of  the Company no party other than the
          Company  has any right, title, claim or other Interest in the Optioned
          Properties;

     (h)  none  of the execution and delivery of this Agreement, the performance
          by  the  Company  of  its obligations hereunder, the sale of the Units
          hereunder,  the  issuance  of the Common Shares comprising part of the
          Units,  the  issuance  of  the Warrants and the issuance of the Common
          Shares  upon  the  due  exercise of the Warrants and the execution and
          delivery of the Option Agreement and the performance by the Company of
          its  obligations  thereunder, will conflict with or result in a breach
          of (i) any statute, rule or regulation applicable to the Company; (ii)
          the  constating  documents  or  resolutions  of  the directors (or any
          committee  thereof) or shareholders of the Company which are in effect
          at  the  date  hereof;  (iii) any mortgage, note, indenture, contract,
          agreement, instrument, lease or other document to which the Company is
          a party or by which it is bound; or (iv) any judgment, decree or order
          binding  the  Company  or  the  property  or  assets  of  the Company;

     (i)  the  Financial  Statements:

          (i)  have  been  prepared  in  accordance  with  generally  accepted
               accounting  principles  in  United  States  consistently applied;

          (ii) present fairly the assets, liabilities and financial condition of
               the Company as at September 30, 2000, December 31, 1999, 1998 and
               1997,  and  the  results of its operations and the changes in its
               financial  position  for  the  periods  then  ended;

          (iii) are in accordance with the books and records of the Company; and

          (iv) contain  and  reflect  all  necessary  adjustments  for  the fair
               presentation  of  the  results  of  operations  and the financial
               condition  of the business of the Company for the periods covered
               thereby,

          and  there  has  not been any material adverse change in the financial
          position  of  the  Company,  or  its  business, assets, liabilities or
          undertaking  since  September  30,  2000  other  than  as specified in
          material  change  reports  filed  under  applicable  securities  laws;

     (j)  the  auditors  of the Company who have audited the Company's financial
          statements  for  the  period  ended March 31, 2000 and the years ended
          December 31, 1998 and 1999 and who provided their audit report thereon
          are  independent  public  accountants  as  required  under  applicable
          securities  laws;

                                      -11-
<PAGE>
     (k)  the  Company  has  filed all necessary tax returns and notices and, to
          the  best  of the knowledge of the Company after due inquiry, has paid
          all  applicable taxes of whatever nature for all tax years to the date
          hereof  to  the extent such taxes have become due or have been alleged
          to  be  due  and  the  Company is not aware of any tax deficiencies or
          interest or penalties accrued or accruing, or alleged to be accrued or
          accruing  thereon  where  it might reasonably be expected to result in
          any  material adverse change in the condition, financial or otherwise,
          or  in  the  earnings  or  business  affairs  of  the  Company;

     (l)  all  of the press releases, material change reports or other documents
          filed by or on behalf of the Company or by or on behalf of Aurora Gold
          Corporation,  the  predecessor  parent  of the Company, since June 30,
          1997  with  any securities regulatory authority, were true and correct
          in  all material respects, provided full, true and plain disclosure of
          all  material facts relevant to the Company to the extent required and
          did not contain a misrepresentation as at the respective dates of such
          filings;

     (m)  the business and operations of the Company have been and are currently
          being  conducted  in  compliance  with  all applicable laws including,
          without  limitation,  those relating to employee health and safety and
          labour  standards,  and no major capital expenditures will be required
          in  the  foreseeable  future  to  maintain  such  compliance;

     (n)  no order ceasing or suspending trading in securities of the Company or
          prohibiting  the sale of securities by the Company has been issued and
          is currently effective and, to the best of the Company's knowledge, no
          proceedings  for  this  purpose  have  been instituted or are pending,
          contemplated  or  threatened;

     (o)  the  authorized  capital  of the Company consists of 50,000,000 Common
          Shares  which  at  the  date  hereof,  and  prior  to the subscription
          contemplated  herein,  13,000,000  Common  Shares  are  issued  and
          outstanding  as  fully  paid  and  non-assessable;

     (p)  the  Company  is  not  a  party  to  nor has it granted any agreement,
          warrant,  option  or  right  or  privilege  capable  of  becoming  an
          agreement,  for  the  purchase, subscription or issuance of any Common
          Shares  or  shares  of  the  Company or securities convertible into or
          exchangeable  for  Common  Shares  or  shares  of  the  Company except
          pursuant  to  existing  outstanding  options,  rights,  warrants  and
          obligations  as  disclosed  in  Schedule  "B"  attached  hereto;

     (q)  the  attributes of the Units and Warrants will conform in all material
          respects with the terms and conditions of this Agreement and the Units
          and  Warrants  will,  when  issued,  constitute  valid  and  binding
          obligations  of  the  Company;

     (r)  the  attributes  of  the Common Shares comply in all respects with the
          requirements  of  the  IBCA;

                                      -12-
<PAGE>
     (s)  each  of  this  Agreement  and  the  Option  Agreement  has  been duly
          authorized,  executed  and  delivered by the Company and constitutes a
          legal  valid  and  binding  obligation  of  the Company enforceable in
          accordance with its terms except that: (i) the enforcement thereof may
          be  limited  by  bankruptcy,  insolvency  and other laws affecting the
          enforcement  of creditors' rights generally, (ii) rights of indemnity,
          contribution  and  waiver  of  contribution  thereunder may be limited
          under  applicable law and (iii) equitable remedies, including, without
          limitation, specific performance and injunctive relief, may be granted
          only  in  the  discretion  of  a  court  of  competent  jurisdiction;

     (t)  there  is  no  person, firm or company acting, or purporting to act at
          the  request  of  the  Company,  who  is  entitled to any brokerage or
          finder's  fee in connection with the transactions contemplated herein.
          In  the event that any person, firm or company acting or purporting to
          act  for the Company at the request of the Company establishes a claim
          for  any such brokerage or finder's fee from Billiton or any Affiliate
          thereof, the Company covenants to indemnify and hold harmless Billiton
          or  such  Affiliate with respect thereto and with respect to all costs
          reasonably  incurred  in  the  defence  thereof;

     (u)  there  is  not  in  the constating documents of the Company, or in any
          agreement, mortgage, note, debenture, indenture or other instrument or
          document  to which the Company is a party or by which it is bound, any
          restriction  upon  or  impediment  to  the  declaration  or payment of
          dividends  by the directors of the Company or the payment of dividends
          by  the  Company  to  the  holders  of  its  Common  Shares other than
          restrictions  relating  to  the  sufficiency  of  profits  from  which
          dividends  may  be  paid;

     (v)  Holladay  Stock  Transfer, Inc. at its principal office located in the
          City  of  Scottsdale, Arizona, has been duly appointed as the transfer
          agent  and  registrar  for  all  of  the  outstanding  Common  Shares;

     (w)  the Company has not withheld, and will not withhold from Billiton, any
          facts  relating  to  the  Company  that would reasonably be considered
          material  to  a  prospective  purchaser  of  the  Units;

     (x)  at  the  Closing  Time,  all necessary corporate action will have been
          taken by the Company to create the Units and Warrants and to authorize
          the  Company to enter into this Agreement and the Option Agreement and
          to  allot and authorize the issuance of the Common Shares comprised in
          the Units and issuable upon the due exercise of the Warrants, and upon
          such  issuance,  the Common Shares comprised in the Units, or issuable
          upon  the  Warrants  will  be  issued as fully paid and non-assessable
          Common  Shares;

     (y)  there  are  no  actions, claims, investigations, suits, proceedings or
          inquiries  (judicial  or  otherwise)  pending  or,  to the best of the
          knowledge  of  the  Company,  threatened  against  or  relating to the
          Company  or  any  of  its  properties or assets at law or in equity or

                                      -13-
<PAGE>
          before  or by any governmental or regulatory agency or board, domestic
          or  foreign,  which may, in any way, have a material adverse effect on
          the  Company's  ability  to perform its obligations hereunder or under
          the  Option  Agreement or on the condition (financial or otherwise) of
          the  business,  properties,  assets,  capital, net worth or results of
          operations  of  the  Company;

     (z)  to  the best of the knowledge of the Company, none of the directors or
          officers  of  the Company, or any Associate or Affiliate of any of the
          foregoing, had, has or intends to have, other than ownership of Common
          Shares  of  the Company, any material interest, direct or indirect, in
          the  transactions  contemplated  by  this  Agreement  or  the  Option
          Agreement or in any undisclosed proposed material transaction with the
          Company  which, as the case may be, materially affects, is material to
          or  will  materially  affect  the  Company;

     (aa) all  property  rights  or  Interests  of  the  Company in the Optioned
          Properties  are  owned or held by the Company as indicated in Schedule
          "A"  to  the  Option  Agreement,  are  in good standing, are valid and
          enforceable,  are free and clear of any liens, charges or encumbrances
          and  no royalty is payable in respect of any of them except as set out
          in  Schedule "A" to the Option Agreement. No other property rights are
          necessary  for  the  conduct  of  the Company's business. There are no
          restrictions  on  the  ability  of  the  Company  to  use, transfer or
          otherwise  exploit  any  such  property  rights  or  Interests  in the
          Optioned  Property  except  as  set  out in Schedule "A" to the Option
          Agreement,  and  the Company does not know of any claim or basis for a
          claim  that  may  adversely  affect  such  rights  or  Interests;

     (bb) except as set out in Schedule "A" to the Option Agreement, the Company
          has  no  responsibility  or  obligation  to pay, or have paid on their
          behalf,  any commission, royalty or similar payment to any person with
          respect to its property rights or Interests in the Optioned Properties
          as  of  the  Closing  Date;

     (cc) the  Company  is in compliance in all material respects with all terms
          and  provisions  of  all  contracts,  agreements,  indentures, leases,
          policies,  instruments  and licences in connection with the conduct of
          their  respective  businesses  and  all  such  contracts,  agreements,
          indentures,  leases,  policies, instruments and licences are valid and
          binding  in  accordance with their terms and in full force and effect,
          and no breach or default by the Company or event which, with notice or
          lapse  or both, could constitute a material breach or material default
          by  the  Company,  exists  with  respect  thereto;

     (dd) the  Company  maintains  in  full  force  such  types  and  amounts of
          insurance  issued by issuers of recognized responsibility insuring the
          Company with respect to its businesses and properties, in such amounts
          and  against  such  losses  and  risks as is deemed appropriate by the
          Company  under  its  present  circumstances  and  as is typical to the
          industry  in  which the Company participates, which insurance coverage
          includes,  but  is not limited to, $5,000,000 of third party liability
          insurance;  and

                                      -14-
<PAGE>
     (ee) the  Company  has  obtained  all  consents  and  approvals  as  may be
          necessary  from  the  board  of  directors and the shareholders of the
          Company  to  the  transactions  contemplated  by  this  Agreement.

5.2.     REPRESENTATIONS  AND  WARRANTIES  OF  BILLITON

Billiton  hereby  represents  and  warrants  to  the  Company:

     (a)  Billiton  has  been  incorporated  and  duly  organized and is validly
          existing  and  in  good  standing  under  the laws of the Netherlands;

     (b)  Billiton  has full power and authority to execute, deliver and perform
          this  Agreement  and  the  Option  Agreement  and to subscribe for the
          Units.  This  Agreement  and  each  other  agreement  entered  into by
          Billiton  in  connection  with  this  Agreement  constitute  valid and
          legally  binding obligations of Billiton, enforceable against Billiton
          in  accordance  with  their  respective  terms  except  that:  (i) the
          enforcement  thereof  may  be  limited  by  applicable  bankruptcy,
          insolvency  and  other  laws  affecting  the enforcement of creditors'
          rights generally, (ii) rights of indemnity, contribution and waiver of
          contribution  thereunder may be limited under applicable law and (iii)
          equitable remedies including, without limitation, specific performance
          and  injunctive  relief,  may  be  granted only in the discretion of a
          court  of  competent  jurisdiction;

     (c)  The Units will be acquired by Billiton as principal for investment for
          Billiton's  own account, not as a nominee or agent and not with a view
          to  the  distribution  of  any  part  thereof. Billiton has no present
          intention  of  selling,  granting  any  participation  in or otherwise
          distributing  the  same;

     (d)  Except  as  set  forth  in  this Agreement, no authorization, consent,
          approval  or  other  order  of,  declaration  to,  or filing with, any
          governmental  agency or body is required for or in connection with the
          valid  and lawful authorization, execution and delivery by Billiton of
          this  Agreement  or  any  other  agreements,  instruments or documents
          entered  into  by  Billiton  pursuant  to  this  Agreement,  for or in
          connection with the valid and lawful authorization, issuance, sale and
          delivery  of  the  Units;

     (e)  Billiton  is  a resident of the jurisdiction set out on the first page
          of  this  Agreement;

     (f)  Billiton is not a "U.S. Person" (as such term is defined in Regulation
          S  under  the  U.S.  Securities  Act);

     (g)  This  subscription  has  not  been  solicited by Billiton in any other
          manner  contrary  to  the U.S. Securities Act and has been executed by
          the  parties  hereto  outside  of  the  U.S.;

                                      -15-
<PAGE>
     (h)  Billiton  acknowledges that (i) the Units, the Warrants and any Common
          Shares  issued  on  exercise  of the Warrants (together, the "Combined
          Securities")  have  not  been registered under the U.S. Securities Act
          and  may not be offered or sold in the United States unless registered
          under  the  U.S.  Securities  Act  and  the  securities  laws  of  all
          applicable  states  of  the  United  States  or an exemption from such
          registration  requirements  is available, (ii) the Warrants may not be
          exercised  by,  or  on  behalf  of,  a  U.S.  Person,  and  (iii)  the
          certificates  representing  the  Units,  the  Warrants  and the Common
          Shares  comprising  the  Units or issuable on exercise of the Warrants
          may  contain a legend reflecting the restrictions set forth in clauses
          (i)  or  (ii) of this paragraph, however the Company has covenanted to
          file a registration statement under the U.S. Securities Act in respect
          of  the  Combined  Securities;

     (i)  Billiton  is  aware  that  the  Units  will  be  distributed  under an
          exemption  from  the  registration requirements of the U.S. Securities
          Act  and  states  that the Units are not being acquired as a result of
          any  material information about the affairs of the Company that is not
          generally  known  to  the  public  save  knowledge  of this particular
          transaction;

     (j)  Billiton  has  been  independently advised as to the applicable resale
          restrictions  imposed  in  respect  of  the  Combined  Securities  by
          securities  legislation in the jurisdictions in which Billiton resides
          and  confirms  that  no  representation  has  been made respecting the
          applicable  resale  restrictions  for  the Combined Securities in such
          jurisdictions  and  is aware of the risks and other characteristics of
          the  Combined Securities and of the fact that Billiton may not be able
          to  resell  the  Combined  Securities  except  in  accordance with the
          applicable  securities  legislation  and  regulatory  policies;  and

     (k)  Billiton  as  at  the  date  of  this  Agreement,  owns  directly  or
          indirectly,  or  exercises control or direction over, no common shares
          in  the  capital  stock  of the Company or securities convertible into
          common  shares  in  the  capital  stock  of  the  Company.

5.3.      NON-WAIVER

No  investigation  made by or on behalf of Billiton, the Company or any of their
respective  advisors  or  agents  at  any time shall have the effect of waiving,
diminishing  the  scope of or otherwise affecting any representation or warranty
made  herein  by  the  other  party hereto or made pursuant hereto. No waiver by
Billiton  or the Company of any condition, in whole or in part, shall operate as
a  waiver  of  any  other  condition.

5.4.      NATURE  AND  SURVIVAL  OF  REPRESENTATIONS  AND  WARRANTIES

     (a)  Notwithstanding any right of Billiton fully to investigate the affairs
          of  the Company, and notwithstanding any knowledge of facts determined
          or determinable by Billiton pursuant to such investigation or right of

                                      -16-
<PAGE>
          investigation,  each of Billiton and the Company has the right to rely
          fully  upon  the representations, warranties, covenants and agreements
          of  the  other  of  them  contained  in  this  Agreement  and of their
          Affiliates,  officers and agents delivered pursuant to this Agreement.

     (b)  All  statements  contained  in  any  certificate  or  other instrument
          delivered  by  or  on  behalf  of  any  party  pursuant  hereto  or in
          connection  with the transactions contemplated by this Agreement shall
          be  deemed  to  be  made by such party hereunder. All representations,
          warranties,  covenants  and agreements herein contained on the part of
          each  of  the  parties hereto shall survive the Closing, the execution
          and  delivery  hereunder  of share or security transfer instruments or
          other  documents  of  title  to  the  Units  or  the Common Shares and
          Warrants  comprised  in  the  Units  or  the Common Shares issuable on
          exercise  of  the  Warrants  and  the  payment  of  the  consideration
          therefor.

5.5.      INDEMNIFICATION

The  Company  or  Billiton,  as  the case may be (hereinafter referred to as the
"Indemnifying  Party"),  hereby  covenants  and  agrees  to  indemnify  and save
harmless Billiton or the Company, as the case may be (hereinafter referred to as
the  "Indemnified  Party"),  effective as and from the Closing, from and against
any  claims,  demands, actions, causes of action, damage, loss, costs, liability
or expense, including reasonable legal expenses (hereinafter in this Section 5.5
called  "Claims")  which  may  be  made or brought against the Indemnified Party
and/or which it may suffer or incur as a result of, in respect of or arising out
of  any  non-fulfilment  of  any  covenant  or  agreement  on  the  part  of the
Indemnifying Party under this Agreement or any incorrectness in or breach of any
representation  or warranty of the Indemnifying Party contained herein or in any
certificate or other document furnished by the Indemnifying Party pursuant or in
relation thereto. The foregoing obligation of indemnification in respect of such
claims shall be subject to the requirement that the Indemnifying Party shall, in
respect  of any Claim made by any third party, be afforded an opportunity at its
sole  expense  to  resist,  defend  and  compromise the same in a timely manner.

                                      -17-
<PAGE>
                              ARTICLE 6 - COVENANTS

6.1.     AFFIRMATIVE  COVENANTS

The  Company  covenants  that:

     (a)  Regulatory  Approvals.  The  Company  has  taken,  or will cause to be
          ---------------------
          taken,  all  steps necessary to obtain all consents and approvals from
          applicable  regulatory  authorities,  and has made or will cause to be
          made  all  such  regulatory  filings as may be necessary, advisable or
          reasonably  requested  by  Billiton, in connection with each and every
          one  of  the  transactions  contemplated  under this Agreement and the
          Option  Agreement.

     (b)  Use  of Unit Proceeds. The Company will expend or cause to be expended
          ---------------------
         $475,000 of the Unit Proceeds in accordance with Schedule "C" attached
          hereto.

     (c)  Registration  Statement. As soon as possible following attaining a "no
          -----------------------
          comment"  position  from the staff of the U.S. Securities and Exchange
          Commission  with  respect  to  the Company's Registration Statement on
          Form 20-F dated June 19, 2000, as amended, the Company will (i) file a
          Registration  Statement  on  Form  F-1  to  register the Common Shares
          comprised  in  the Units and the Common Shares issuable on exercise of
          the  Warrants and will thereafter maintain such Registration Statement
          effective  for  so long as such Common Shares remain subject to resale
          restrictions  in the United States and (ii) will jointly file with its
          listing NASD member/broker Form 15-2c-11 with the National Association
          of  Securities Dealers for listing and trading of its Common Shares on
          the  OTCBB  during  February  2001.

     (d)  Payment  of  Expenses.  All  costs  and  expenses  including,  without
          ---------------------
          limitation,  the  fees  and disbursements of legal counsel incurred in
          connection  with  this  Agreement  and  the  Option  Agreement and the
          transactions  contemplated hereby shall be paid by the party incurring
          such  expenses.

     (e)  No  Amendment  to Agreements. The Company covenants with Billiton that
          ----------------------------
          it  will not amend or agree to any amendment of any agreement which in
          any way relates, or otherwise affects, the Optioned Properties without
          the  prior  written  consent  of  Billiton.

6.2.     CONFIDENTIALITY

For  a  period  of one year from the Closing Date, the parties to this Agreement
shall keep confidential all books, records, files and other information supplied
by  any  party  to  one  of  the  other  parties  or  their employees, agents or
representative  in  connection with this Agreement or the Option Agreement or in
respect  of  the  activities  carried  out  on any of the Optioned Property by a
party,  or  related to the sale of minerals, or other products derived from such
Optioned  Property,  including all analyses, reports, studies or other documents

                                      -18-
<PAGE>
prepared  by  a party or its employees, agents or representatives, which contain
information  from,  or  otherwise  reflects  such books, records, files or other
information. The parties shall not and shall ensure that their employees, agents
or  representatives  do  not disclose, divulge, publish, transcribe, or transfer
such information, all or in part, without the prior written consent of the other
parties,  which  consent  may  not be arbitrarily withheld and which prohibition
shall  not  apply  to  such  information or any part thereof to the extent that:

     (a)  prior  to  its  receipt by a party such information was already in the
          possession  of such party or its employees, agents or representatives;

     (b)  it  is  required  to  be  publicly  disclosed  pursuant  to applicable
          securities  or  corporate  laws;

     (c)  such information becomes generally disclosed to the public, other than
          as  a  consequence of a breach hereof by one of the parties hereto; or

     (d)  such  information  is provided to a third party in the ordinary course
          of  business  and  such  third  party  enters  into  a confidentiality
          agreement  substantially  in the form of this Section 6.2 without this
          subsection  (d).

6.3.     CO-OPERATION  BY  BILLITON

Billiton  shall  co-operate with the Company in obtaining all necessary consents
and  approvals  referred  to  in  Section  3.1(d)  of  this  Agreement.

6.4.     MAINTENANCE  OF  BILLITON'S  SHARE  OWNERSHIP

Except  as otherwise provided below and provided that the Option Agreement is in
good  standing, the Company will perform and comply with the covenants set forth
in  this Section 6.4 from the date of the Closing and thereafter until the later
of  the  fourth anniversary of the Closing Date and the second occasion on which
Billiton  elects not to acquire Securities, which the Company is prepared, under
applicable  securities  laws  and  the  terms  of  this  Agreement,  to issue to
Billiton,  after  receiving  a  Notice  (as  defined in Section 6.4(b)) from the
Company:

                                      -19-
<PAGE>
     (a)  Pre-Emptive  Rights.  In  the event that the Company proposes to issue
          -------------------
         any  equity  securities,  including  securities  convertible  or
          exchangeable  for  equity securities, (the "Securities") pursuant to a
          private  placement  or  public offering (provided however that if such
          issuance  of  Securities  involves  securities  convertible  into  or
          exchangeable for Common Shares, such Securities will be deemed to have
          been converted into or exchanged for equity securities for the purpose
          of  determining  whether  such issuance falls within this subsection),
          Billiton  or an Affiliate designated by Billiton shall have a right to
          acquire  from the Company on the terms set out in subsection (b), such
          number  of  Securities  so  that immediately after the consummation of
          such issuance Billiton's Outstanding Interest (as hereinafter defined)
          remains  the  same  as  immediately  prior to the consummation of such
          issuance  and  such  acquisition.  Notwithstanding  anything  in  this
          subsection  to  the  contrary,  Billiton  shall  not have the right to
          maintain  its  Outstanding  Interest  with  respect  to any Securities
          issued  by the Company, under (i) an employees' stock plan and (ii) in
          lieu  of  cash  payments  to  employees  or  providers  of  services.

     (b)  Notice. Within 5 Business Days after receipt of notice ("Notice") from
          ------
          the  Company  in  reasonable detail of the proposed issuance, Billiton
          shall,  if  it  elects  to  acquire  Securities  pursuant hereto, give
          written  notice  to  the  Company  of  its  irrevocable  commitment to
          purchase or cause an Affiliate of Billiton to purchase such Securities
          from the Company simultaneously with the consummation of such proposed
          issuance  at  a  price  and on other terms and conditions equal to the
          price  paid  and the other bona fide terms and conditions agreed to by
          the  other  purchasers  of  such  Securities  provided the Company may
          require  that  Billiton's  or  such  Affiliate's participation in such
          proposed  issuance  of Securities does not result in the Company being
          required  to  prepare  any additional disclosure documents which would
          not  have  been  required  if  Billiton  or  such  Affiliate  did  not
          participate  and  the Company may consequently indicate to Billiton or
          such  Affiliate  as  a  result  of  such  requirement.

     (c)  Meaning  of  "Outstanding  Interest".  As  used  herein,  the  term
          ------------------------------------
          "Outstanding  Interest"  means:

          (i)  the  percentage  of  the  outstanding  Securities  of the Company
               represented  by the aggregate Securities held by Billiton and any
               Affiliate  of  Billiton  upon Closing. For greater certainty, the
               Company  and  Billiton  hereby agree and acknowledge that, on the
               Closing  Date,  Billiton's  Outstanding  Interest shall be eleven
               point  six  five  percent  (11.65%);

          (ii) subject  to  Section  6.4(d), in the event Billiton elects at any
               time  not to acquire Securities after receiving a Notice from the
               Company  pursuant  to  subsection  (b)  above,  the percentage of
               outstanding  Securities  of  the  Company  represented  by  the
               Securities  held  by  Billiton  immediately  following  the
               consummation  of the issuance of Securities for which the Company
               had  given  Billiton  a  Notice and in which Billiton declined to
               participate;  or

                                      -20-
<PAGE>
          (iii)  in  the  event  Billiton  or  any  Affiliate of Billiton sells,
               transfers  or otherwise disposes of any Securities of the Company
               other  than  to  Billiton  or  an  Affiliate  of  Billiton,  the
               percentage  of  the  outstanding  Securities  of  the  Company
               represented by the Securities held by Billiton together with such
               Affiliates  shall  be reduced by the number of Securities sold or
               otherwise  disposed  of  by  Billiton  and/or  such  Affiliates.

     (d)  Securities  Carried  Forward.  In  the  event that any distribution of
          ----------------------------
          Securities  by  the  Company  to  Billiton or an Affiliate of Billiton
          pursuant  to the provisions of Section 6.4(a) would not be exempt from
          the  registration  requirements  of  applicable securities laws or the
          Company  otherwise  declines  to  issue  such  Securities  to Billiton
          pursuant  to  the  provisions of Section 6.4(b), then in either event,
          such  number  of  Securities  required to be offered by the Company to
          Billiton  or an Affiliate of Billiton pursuant to Section 6.4(a) shall
          be  carried  forward  and  included  in  any  subsequent  offering  of
          Securities  by the Company to Billiton pursuant to Section 6.4(a) and,
          for  greater certainty, the provisions of Section 6.4(c)(ii) shall not
          apply  to  any  Securities not acquired by Billiton or an Affiliate of
          Billiton  pursuant  to  Section  6.4(a)  for  so long as such offer of
          Securities  is  required  to  be  carried  forward  pursuant  hereto.

     (e)  The  provision  of  this  Section  6.4 shall no longer be operative if
          Billiton's  outstanding  interest  shall at any time be less than five
          percent  (5%).

                              ARTICLE 7 - MEDIATION

7.1.     MEDIATION

All  disputes  arising out of or in connection with this Agreement or in respect
of  any  defined  legal  relationship  associated  herewith or derived hereunder
shall,  subject  to  Section  7.2,  be  referred  to a mediator chosen by mutual
agreement  of  both  parties.  The  mediator  shall be a person with appropriate
technical  competence  to  assist  the  parties  to  resolve their dispute.  The
mediator agreed by the parties shall assist the parties to resolve their dispute
in  accordance  with  the Center for Dispute Resolution ("CEDR") Model Mediation
Procedure,  which mediation process shall be non-binding.  In the event that the
parties  are  unable to reach agreement on a choice of mediator or are otherwise
unable  to  resolve  their dispute through the use of such mediator, then either
party  shall be free to have the dispute resolved through the Courts of England.

                                      -21-
<PAGE>
7.2.     INTERIM  RELIEF

Nothing  contained in this Article shall be interpreted as restricting the right
of  either  Billiton  or  the  Company  to  seek  interim relief (whether legal,
equitable  or  otherwise) from a court of competent jurisdiction, pending formal
resolution  of  any  dispute  between  the  parties  hereto.

                        ARTICLE 8 - FURTHER CO-OPERATION

8.1.     CO-OPERATION

Each  of  the  Company  and  Billiton:

     (a)  recognize  the  possible  mutual  advantages to be realized from their
          co-operation  in  the  conduct  of  the exploration and development of
          mineral  properties  in  the  Republic of Tunisia by or in any project
          involving  the  Company  or  any  Affiliate  of  the  Company;  and

     (b)  agree  to  co-operate  and  to consult with each other with respect to
          exploration  and  acquisition opportunities coming to the attention of
          either  party  in  the  Republic  of  Tunisia.

8.2.     EXCLUSIVITY

The parties hereto agree that for a period expiring on the later of 3 years from
the date hereof and the termination of the Option Agreement or any joint venture
agreement  contemplated  therein,

     (a)  the  Company agrees, and agrees to cause any Affiliate of the Company,
          to  offer to Billiton the right to participate in mineral prospects in
          the Republic of Tunisia identified or acquired by the Company on terms
          and  conditions  substantially the same as are contained in the Option
          Agreement;  and

     (b)  Billiton  agrees,  and  agrees  to cause any Affiliate of Billiton, to
          offer  to  the Company the right to participate in any further mineral
          prospects  in  the  Republic  of  Tunisia  identified  or  acquired by
          Billiton  on  terms and conditions substantially the same as contained
          in  the  Option  Agreement.

                                      -22-
<PAGE>
                               ARTICLE 9 - GENERAL

9.1.     PUBLIC  NOTICES

All  public  notices  to  third  parties  and all other publicity concerning the
transactions  contemplated  by  this  Agreement,  shall  be  jointly planned and
co-ordinated  by the parties hereto and no parties hereto shall act unilaterally
in  this  regard without the prior approval of the others of them, such approval
not  to  be  unreasonably  withheld, unless such disclosure shall be required to
meet  timely  disclosure  obligations  of  either  Billiton or the Company under
applicable securities laws and stock exchange rules in circumstances where prior
consultation  with  the  other  parties  is not possible in any manner or in any
event.

9.2.     TIME

Time  shall  be  of  the  essence  hereof.

9.3.     NOTICES

Any  notice  or other writing required or permitted to be given hereunder or for
the  purposes  hereto  to  any  party  shall  be sufficiently given if delivered
personally, or if sent by prepaid registered mail or if transmitted by facsimile
or  other  form  of  recorded communication tested prior to transmission to such
party:

     (a)  In  the  case  of  a  notice  to  the  Company  at:

              Aurora  Metals  (BVI)  Ltd.
              Suite  517
              2  Old  Brompton  Road
              London,  SW7  3DQ
              United  Kingdom

              Attention:  John  James

              Facsimile  No.  011-44-207-581-4445

                                      -23-
<PAGE>
     (b)  In  the  case  of  a  notice  to  Billiton,  at:

              Billiton  E&D  3  B.V.
              c/o  Billiton  International  Development  Limited
              1  -  3  Strand
              London,  WC2N  5HA
              United  Kingdom

              Attention:  Alain  Liger

              Facsimile  No.  011-44-207-747-3909

          with  a  copy  to:

              McCarthy  Tetrault
              Barristers  and  Solicitors
              P.O.  Box  10424,  Pacific  Centre
              1300  -  777  Dunsmuir  Street
              Vancouver,  British  Columbia
              V7Y  I  K2

              Attention:  George  W.  Holloway

              Facsimile  No.  (604)  643-7900

or at such other address or addresses as the party to whom such writing is to be
given  shall have last notified the party giving the same in the manner provided
in  this  Section 9.3. Any notice delivered to the party to whom it is addressed
hereinbefore provided shall be deemed to have been given and received on the day
it  is so delivered at such address, provided that if such day is not a Business
Day,  then  the  notice  shall  be deemed to have been given and received on the
second  Business  Day  next  following such day.  Any notice mailed as aforesaid
shall be deemed to have been given and received on the seventh Business Day next
following  the date of its mailing. Any notice transmitted by facsimile or other
form  of  recorded communication shall be deemed to be given and received on the
first  Business  Day  after  its  transmission.

9.4.     ASSIGNMENT

The  rights and obligations hereunder relating to the subscription for the Units
and  this Agreement are not assignable other than by Billiton to an Affiliate of
Billiton.  Subject  thereto, this Agreement shall enure to the benefit of and be
binding upon Billiton and the Company and their respective successors (including
any  successor  by  reason  of  amalgamation,  merger  or  other  corporate
reorganization  of  either  party) and permitted assigns. For greater certainty,
nothing  herein  shall prevent or limit Billiton from transferring, disposing of
or  otherwise  dealing  with  its  shareholdings  in  the  Company.

                                      -24-
<PAGE>
9.5.     SEVERABILITY

Each  and  every term, condition and provision of this Agreement is and shall be
severable  one  from  the  other,  and  in the event that any term, condition or
provision hereof is at any time declared by a court of competent jurisdiction to
be  void,  invalid  or  unenforceable, same shall not extend to invalidate, make
void  or unenforceable any other term, condition or provision of this Agreement.

9.6.     FURTHER  ASSURANCES

The  parties  hereto  shall  with  reasonable  diligence  do all such things and
provide  all  such  reasonable  assurances  and assistance as may be required to
consummate  the  transactions  contemplated  hereby,  and  each such party shall
provide such further documents or instruments required by the other party as may
reasonably  be necessary or desirable to give effect to the terms and purpose of
this  Agreement  and  carry  out  its  provisions,  whether  before or after the
Closing.

9.7.     COUNTERPARTS

This  Agreement  may  be  simultaneously executed and delivered in counterparts,
each  of  which when so executed and delivered shall be deemed to be an original
and  such  counterparts  together  shall  constitute one and the same agreement.

9.8.     EXECUTION  BY  TELECOPY

This Agreement may be executed by the parties and transmitted by telecopy and if
so executed and transmitted this Agreement will be for all purposes as effective
as  if  the  parties  had  delivered  an  executed  original  Agreement.

                                      -25-
<PAGE>
9.9.     GOVERNING  LAW

This Agreement, including all Schedules annexed hereto and all other agreements,
documents  and  other  instruments  delivered  in  connection herewith, shall be
governed  by  and  construed  in  accordance  with  the  laws  of  England.

IN  WITNESS WHEREOF the parties have hereunto duly executed this Agreement as of
the  date  and  year  first  above  written.

                            AURORA  METALS  (BVI)  LIMITED

                            By:
                                --------------------------------------

                            BILLITON  E&D  3  B.V.

                            By:
                                --------------------------------------

                                      -26-
<PAGE>

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