Document:

ex101.htm

    Exhibit 10.1

     

    
 

    PROPERTY
AGREEMENT

    

    THIS
AGREEMENT made as of the 28th day
of March, 2005

    

    BETWEEN:

    

    GUSTAFSON
HOLDINGS LTD., a body corporate under the laws of British Columbia, having its
registered office at #2800 – 666 Burrard Street, Vancouver, B.C.

    

    (“Gustafson”)

    

    AND

    

    ADVANCED
MINERAL TECHNOLOGY CORPORATION, an Idaho corporation, located at Rt. 1, Box
1092, Fairfield, Idaho, 83327, USA.

    

    (“Optionor”)

    

    WHEREAS

    

    
      	
              A.  

            	
              Gustafson
      is the recorded and beneficial holder of a 100% undivided interest in
      certain mining claims and other property situated at Tillicum Mountain,
      British Columbia, more particularly described in Schedule
    “A”,

            

    

    

    
      	
              B.  

            	
              Optionor
      wishes to purchase the Property from Gustafson upon the terms hereinafter
      set out.

            

    

    

    NOW THEREFORE, for good and
valuable consideration (the receipt and sufficiency of which is acknowledged),
Gustafson and Optionor agree as follows:

    

    1.           INTERPRETATION

    

    
      	
              1.1  

            	
              Definitions

            

    

    

    The
following terms, wherever used in this Agreement, shall have the following
meanings:

    

    
      	
              (a)  

            	
              “Affiliate”
      shall have the meaning attributed to it in the Canada Business
      Corporations Act, R.S. C. 1985, c. C-44, as
  amended.

            

    

     

    
      	
              (b)  

            	
              “Average
      Grade” means the average of the Daily Assays in the
    quarter;

            

    

     

    
      	
              (c)  

            	
              “Commercial
      Mining Operations” means with respect to the Property, the mining and/or
      processing of at least one hundred tons of ore per
  day;

            

    

     

    
      	
              (d)  

            	
              “Daily
      Assays” shall have the meaning attributed to it in paragraph
      3.2;

            

    

     

    
      	
              (e)  

            	
              “Minerals”
      shall mean the end products derived from operating the Property as a mine
      and that are economically saleable, and, without limiting the generality
      of the foregoing shall include gold, silver and the platinum group in
      whatever form they may occur.

            

    

     

    
      	
              (f)  

            	
              “Mining
      Operations” means every kind of work done on or in respect of the Property
      or the product derived from the Property after the date of this Agreement
      by or under the direction of Optionor including, without limiting the
      generality of the foregoing, the work of assessment, geophysical,
      geochemical and geological surveys, studies and mapping, investigating,
      drilling, designing, examining, equipping, improving, surveying,
      shaft-sinking, raising, cross-cutting and drifting, searching for,
      digging, trucking, sampling, working and procuring materials, ores and
      metals, surveying and bringing any mining claims to lease or patent, and
      all other work usually considered to be prospecting, exploration,
      development and mining work; in paying wages and salaries of workers
      engaged in the work and in supplying food, lodging, transportation and
      other reasonable needs of the works; in paying assessments or premiums for
      workers’ compensation insurance, contributions for unemployment insurance
      or other pay allowances or benefits customarily paid in the district to
      those workers; in paying rentals, licence renewal fees, taxes and other
      governmental charges required to keep the Property in good standing; in
      purchasing or renting plant, buildings, machinery, tools, appliances,
      equipment or supplies and in installing, erecting, detaching and removing
      them; mining, milling, concentrating, rehabilitation, reclamation, and
      environmental protections and in the management of any work which may be
      done on the Property or in any other respect necessary for the due
      carrying out of the prospecting, exploration and development
      work;

            

    

     

    
      	
              (g)  

            	
              “Net
      Smelter Returns” means the gross amount paid by smelters or refiners to
      Optionor for the Minerals or metals in the ores extracted from the
      Property after deducting only the charges made for smelting, treating,
      assaying and refining the ores, Minerals and metals, it being understood
      that mill costs, mill sampling charges and inbound freight will not be
      deducted in computing Net Smelter
Returns;

            

    

     

    
      	
              (h)  

            	
              “Operational
      Date” means the date when Optionor begins Commercial Mining Operations on
      or under the Property;

            

    

     

    
      	
              (i)  

            	
              “Permitted
      Encumbrances” means those encumbrances which are set out in Schedule “B”
      and such other encumbrances, encroachments, irregularities, or defects in
      the Gustafson’s title as Optionor may hereinafter accept in writing;
      and

            

    

     

    
      	
              (j)  

            	
              “Property”
      means all of the mineral claims, mining leases, Crown granted undersurface
      rights, exploration rights, equipment, tailings, and buildings more
      particularly described in Schedule “A” and shall include any improved
      tenure granted over the mineral claims and any mineral tenures added under
      paragraph 3.7 hereof.

            

    

     

    
      	
              1.2  

            	
              Headings

            

    

    

    The
headings of this Agreement and the schedules are solely for convenience of
reference and do not affect the interpretation of it or define, limit or
construe the contents of any provision of this Agreement.

    

    
      	
              1.3  

            	
              Number
      and Gender

            

    

    

    Words
importing the singular number shall include the plural and vice versa, words
importing the neuter gender shall include the masculine and feminine genders,
and words importing persons shall include firms and corporations and vice
versa.

    

    

    
      	
              1.4  

            	
              Governing
      Law

            

    

    

    This
Agreement shall be governed by and construed in accordance with the laws of the
Province of British Columbia and the laws of Canada applicable
herein.

    

    
      	
              1.5  

            	
              Currency

            

    

    

    All
references to currency in this Agreement are references to Canadian
currency.

    

    2.           TITLE
TO AND PURCHASE OF THE CLAIMS

    

    
      	
              2.1  

            	
              Purchase
      of Claims

            

    

    

    Based
upon and relying upon the representations and warranties of Gustafson and
Optionor hereinafter contained, Optionor herby agrees to purchase from Gustafson
and Gustafson agrees to sell to Optionor all of Gustafson’s right, title and
interest in and to the Property on the terms and conditions set out in this
Agreement.

    

    2.2           Gustafson’s
Representations and Warranties

    

    Gustafson represents and warrants to
Optionor as follows:

    

    
      	
              (a)  

            	
              it
      has good title to the Property and is the beneficial and recorded owner of
      a 100% interest in the Property free and clear of all encumbrances, except
      for Permitted Encumbrances and existing reclamation obligations in respect
      of exploration and other work carried out on the Property by third parties
      since March, 1996;

            

    

     

    
      	
              (b)  

            	
              all
      of the mineral claims comprised in the Property have been validly and
      properly located, staked, tagged and recorded, and the Mining Lease
      comprised in the Property has been validly issued, in accordance with the
      provisions of the Mineral Tenure Act or its predecessor
      legislation;

            

    

     

    
      	
              (c)  

            	
              all
      of the Crown granted mineral claims comprised in the Property have been
      validly and properly issued in accordance with the provisions of the Land
      Act or its predecessor legislation;

            

    

     

    
      	
              (d)  

            	
              it
      is duly incorporated and in good standing as to the filing of annual
      returns under the laws of British Columbia and is qualified to carry on
      business under the laws of British
Columbia;

            

    

     

    
      	
              (e)  

            	
              it
      has the full and undisputed right to deal with the Property as provided
      for in this Agreement and neither the execution nor performance of this
      Agreement will constitute a default of any covenant or agreement under
      which it obtained its interest in the Property or to which such interest
      is encumbered or otherwise is
subject;

            

    

     

    
      	
              (f)  

            	
              the
      Property has not been dealt with in any way that might prevent Optionor
      from using the surface rights associated with Property or would materially
      interfere with Optionor’s access to or use, operation or ownership of the
      Property or would require Optionor to obtain the consent of any other
      person, firm, corporation or body as a condition of exercising the rights
      conferred on Optionor herein except for the requirements of Optionor to
      assume responsibility for decommissioning the access road to the
      Property;

            

    

     

    
      	
              (g)  

            	
              Gustafson
      is not party to any other outstanding agreements or options to acquire any
      interest in the Property other than this Agreement with Optionor and, to
      the best of Gustafson’s knowledge, neither the Property nor the surface
      rights associated with the Property nor any land over which runs any
      private road which currently provides access to the Property, is subject
      to any adverse claim.

            

    

     

    
      	
              (h)  

            	
              Gustafson
      has no legal or beneficial interest in any property adjacent to or within
      a five mile radius of the Property being conveyed herein except as s et
      out in Schedule “C”;

            

    

     

    
      	
              (i)  

            	
              It
      has full power and authority to execute this Agreement and carry out its
      obligations hereunder and neither the execution nor performance of this
      Agreement will constitute a default of Gustafson’s constating documents
      and all corporate authorizations or consents required therefor have been
      obtained prior to closing;

            

    

     

    
      	
              (j)  

            	
              There
      are no outstanding environmental clean-up or other work orders affecting
      the Property issued by any government agency having jurisdiction therein
      and, to the best of Gustafson’s knowledge, neither Gustafson nor anyone
      claiming through Gustafson has committed a breach of any environmental
      regulation in respect of the Property;
and

            

    

     

    
      	
              (k)  

            	
              Gustafson
      is not a non-resident for the purposes of s. 116 of the Income Tax Act
      R.S.C. 1952, c. 148, as amended.

            

    

     

    2.3           OPTIONOR’S
Representations and Warranties

    

    OPTIONOR
hereby represents and warrants to Gustafson as follows:

    

    
      	
              (a)  

            	
              it
      is duly incorporated and in good standing as to the filing of annual
      returns under the laws of Idaho and is qualified to carry on business
      under the laws of British Columbia;
and

            

    

     

    
      	
              (b)  

            	
              it
      has full power and authority to execute this Agreement and carry out its
      obligations hereunder and neither the execution nor performance of this
      Agreement will constitute a default of Optionor’s constating documents and
      all corporate authorizations or consents required therefore have been
      obtained prior to closing.

            

    

     

    
      	
              2.4  

            	
              Payment
      of Purchase Price

            

    

    

    No later
than the 15th day
of July, 2005, Optionor shall pay the sum of $65,000 to Davis & Company,
solicitors for Gustafson, to be held in trust for deliverance to
Gustafson:

    

    
      	
              (a)  

            	
              as
      to $25,000.00 upon recording of the conveyance to Optionor of all
      Gustafson’s right, title and interest in and to the Property and credited
      against the first Royalty payable, if any, under paragraph 3.1;
      and

            

    

     

    
      	
              (b)  

            	
              as
      to $40,000 upon acknowledgment in writing by the Ministry of Energy and
      Mines that the reclamation security of $40,000 in respect of the Property
      is being held for the benefit of Optionor subject to reclamation
      obligations in respect of the
Property.

            

    

     

    Davis
& Company shall not release the $25,000 of the $65,000 being held by it for
14 days from the date of this Agreement or until such earlier time as Optionor
advises Davis & Company that it has completed the search of title to the
Property to its satisfaction and the conveyance of the Property other than the
Mining Lease has been duly recorded in its name.  Notwithstanding the
foregoing, Optionor at its discretion may require Gustafson to cure any
specified defects in the title, including the discharge of any liens, charges or
encumbrance registered against the Mining Lease.  But if at the end of
60 days from the date of this Agreement, Gustafson is unable to convey good
title to the Property free and clear of all encumbrances, save Permitted
Encumbrances and existing reclamation obligations or is in material breach of
any representation or warranty made under paragraph 2.2 that Optionor has not
waived in writing, Davis & Company shall return $25,000 to Optionor upon 7
days written demand therefore by Optionor forthwith upon Optionor’s conveying
back to Gustafson good title to the Property without any liens, charges or
encumbrances save Permitted Encumbrances and existing reclamation
obligations.  For greater certainty, the recording of an assignment of
the Mining Lease in the name of Optionor shall not delay the release of funds to
Gustafson so long as Gustafson is taking all reasonable steps to process such an
assignment.  Davis & Company shall not release $40,000 of the
$65,000 being held by it until Optionor shall have received the required written
acknowledgement from the Ministry of Energy and Mines under sub-paragraph (b)
above.

    

    
      	
              2.5  

            	
              Gustafson’s
      Cooperation

            

    

    

    Gustafson
covenants and agrees that:

    

    
      	
              (a)  

            	
              it
      shall use its best efforts to cooperate with Optionor to obtain all
      licenses, permits, or other  consents, which, in the reasonable
      opinion of Optionor, are required or desirable to carry out commercial
      mining operations on the Property and shall assign to Optionor any which
      exist in the name of Gustafson and are
  assignable.

            

    

     

    
      	
              (b)  

            	
              it
      shall provide Optionor with full and complete access to, and copies of
      originals of all drilling records, production records, title opinions,
      reserve reports, and geological, geochemical and geophysical surveys
      pertaining to the Property and in the possession or control of Gustafson
      and which Gustafson is not legally restricted from
    disclosing.

            

    

     

    
      	
              2.6  

            	
              Optionor’s
      Rights

            

    

    

    
      	
              (a)  

            	
              Optionor
      shall hold title to the Property subject to the rights and interests of
      the parties under the terms of this
Agreement.

            

    

     

    
      	
              (b)  

            	
              Notwithstanding
      Gustafson’s rights to a Royalty under this Agreement, Optionor shall have
      the right in its sole discretion to determine the manner in which to
      explore and develop the Property so long as all Mining Operations
      conducted by Optionor shall be in accordance with good exploration,
      development and mining practice, and in compliance with all applicable
      legislation PROVIDED THAT if Commercial Mining Operations on the Property
      have not commenced by that date which is 2 years from the date that
      Optionor has acquired the last permit necessary to carry out Commercial
      Mining Operations but in any event not later than the day of February,
      2010, Optionor shall be deemed to have abandoned all of the Property and
      shall be obliged to transfer it to Gustafson in accordance with the
      provisions of paragraph 5.3(c).

            

    

     

    
      	
              (c)  

            	
              Notwithstanding
      the provisions of subparagraph (a), all ores, metals and Minerals
      extracted or produced from the Property during the period until the
      Operational Date and all products resulting therefrom including
      concentrates, metallics, and bullion shall at all times be the sold and
      shipped as the joint property of Gustafson and Optionor other than that
      recovered from not more than two test shipments of not more than 750 lbs.
      each.

            

    

     

    3.           OPTIONOR’S
OBLIGATIONS

    

    
      	
              3.1  

            	
              Royalty

            

    

    

    
      	
              (a)  

            	
              Optionor
      shall pay to Gustafson as an ongoing Royalty the greater of $25,000 per
      calendar year or:

            

    

     

    
      	
              (i)  

            	
              3.5%
      of the Net Smelter Returns received in the calendar quarter if the Average
      Grade in the calendar quarter was 0.5 ounces of gold per ton or
      less;

            

    

     

    
      	
              (ii)  

            	
              4.0%
      of the Net Smelter Returns received in the calendar quarter if the Average
      Grade in the calendar quarter was greater than 0.5 ounces of gold per ton
      but less than 1.0 ounces of gold per
ton;

            

    

     

    
      	
              (iii)  

            	
              5.0%
      of the Net Smelter Returns received in the calendar quarter if the Average
      Grade in the calendar quarter was equal to or greater than 1.0 ounces of
      gold per ton.

            

    

     

    The
Royalty provided in these subparagraphs (i), (ii), and (iii) shall commence in
the calendar quarter next following the Operational Date and shall be paid to
the Optionor quarterly in arrears on the 1st day
of the following calendar quarter thereafter until the time provided in
subparagraph © provided that Optionor shall pay to Gustafson by way of an
advance on Royalties the sum of $25,000 in advance at the beginning of each year
after the date of this Agreement until Optionor abandons all of the Property in
accordance with paragraph 5.3(b).  Any Royalties not paid within 15
days following the end of a quarter shall bear interest at an annual rate
equivalent to the Prime Rate charged by Optionor’s Bank in the preceding month
plus 5% from the date the Royalty payment was due until it is paid.

    

    
      	
              (b)  

            	
              Optionor
      shall pay to Gustafson as a Royalty on any ores, metals and Minerals sold
      directly by Optionor to the jewellery retail market, a Royalty of 30% of
      the gross receipts from such sales but nothing in this paragraph shall
      apply to any sales to smelters, processors, refineries, testing
      laboratories or similar commercial buyers or
  operations.

            

    

     

    
      	
              (c)  

            	
              The
      Royalties provided for in this Agreement shall continue until Optionor
      abandons all of the Property in accordance with subparagraphs
      5.3(b)

            

    

     

    
      	
              (d)  

            	
              Optionor
      shall maintain and keep on the Property, proper and sufficient records of
      all ores, metals and Minerals processed, sold, assayed or removed from the
      Property including, but not limited to, Net Smelter Returns, and shall
      permit Gustafson, or its authorized representative, reasonable access to
      such records.  At any time during the 30 days following the
      anniversary of the Operational Date, Gustafson may notify Optionor that it
      requires the records of the 12 months ending on such anniversary date to
      be audited.  The audit shall be at Optionor’s expense provided
      that if the Royalties paid to Gustafson in such 12 month period are
      confirmed by the audit to have been neither overstated nor understated by
      more than 3%, then Gustafson shall pay the cost of the
      audit.  In the event that the audit confirms an understatement
      of Royalties paid, Optionor shall immediately pay the amount of the
      understatement to Gustafson plus interest thereon as calculated in
      accordance with paragraph 3.1(a).  In the event that an
      overstatement is confirmed, Optionor may deduct the amount of the
      overstatement from the next quarterly Royalty
  payment.

            

    

     

    
      	
              (e)  

            	
              The
      sum of $25,000 paid to Gustafson under paragraph 2.4 hereof and all
      advance royalties paid under paragraph 3.1(a) shall be credited against
      and deducted from any additional Royalties payable, under paragraph
      3.1(a).  If no Royalties are payable as a result of commercial
      mining operation on the Property, Gustafson shall not be liable to repay
      to Optionor any amounts received by them as advance
    Royalties.

            

    

     

    
      	
              3.2  

            	
              Samples
      and Daily Assays

            

    

    

    Commencing
with the Operational Date, Optionor shall take hourly samples of the head feed
into the plant and shall perform a Daily Assay of the samples taken over the
preceding day.

    

    
      	
              3.3  

            	
              Maintenance
      of Property

            

    

    

    Optionor
agrees that during the period while this Agreement is in effect, Optionor shall
carry out sufficient assessment work to maintain the Property in good standing
provided that it shall not be liable to do any assessments or pay any taxes or
other charges levied or assessed against the Property in respect of any period
prior to the date of this Agreement except that Optionor shall accept an
assignment of the security amount of $40,000 held by the Ministry of Energy and
Mines for reclamation work on the Property and shall perform all outstanding
reclamation work that may be necessary as a result of a failure on the part of
third parties to perform reclamation work on the Property in order to make the
Property accessible for Mining Operations.

    

    
      	
              3.4  

            	
              Abandonment

            

    

    

    Optionor
may at any time, during the term of this Agreement, abandon any one or more of
the claims which comprise the Property provided Optionor shall first give
Gustafson notice in writing of any proposed abandonment and shall transfer to
Gustafson at Optionor’s cost all right, title and interest in and to such
abandoned claims free and clear of all liens, charges and encumbrances and with
sufficient assessment work recorded or lease payments made to ensure the
abandoned Property is in good standing for not less than one year after the date
of transfer.  Optionor shall also carry out at its own expense all
reclamation work required to clean up the abandoned Property from Optionor’s
operations thereon and the work required under paragraph 3.3
hereof.

    

    
      	
              3.5  

            	
              Indemnity
      and Liens

            

    

    

    Gustafson
shall indemnify and save Optionor harmless from and against all losses,
liabilities, claims, demands, damages, expenses, suits, injury or death in any
way referable to commercial or other mining operations conducted prior to the
execution of this Agreement except for those matters assumed by Optionor on
accepting the $40,000 reclamation security referred to in paragraph 3.3 and
Optionor shall indemnify and save Gustafson harmless from and against all
losses, liabilities, claims, demands, damages, expenses, suits, injury or death
in any way referable to Mining Operations conducted after the date of this
Agreement; provided, that Gustafson shall not be indemnified for any loss,
liability, claim, demand, damage, expense, injury or death resulting from the
gross negligence of willful misconduct of Gustafson or its employees, agents or
contractors.  Optionor agrees to pay when due all valid accounts for
wages, supplies, workers’ compensation, assessments and taxes incurred by it in
connection with the Property and will promptly cause to be discharged or
contested any lien that may arise on the Property during the course of its
occupation thereon and to comply with all environmental and reclamation laws
applicable to the Property.

    

    
      	
              3.6  

            	
              Access
      to Mining Operations and
Information

            

    

    

    Optionor
shall submit to Gustafson within 10 days after the end of each calendar quarter
quarterly reports of ore produced, treated, shipped or sold from the Property
and such reports may be in the form prepared by Optionor in the ordinary course
of its business.  Gustafson may, at its own risk and expense and at
reasonable times agreed to by Optionor, enter on the Property and examine the
Mining Operations; provided that Gustafson will not, in the option of Optionor
reasonably exercised, interfere with such Mining Operations.

    

    
      	
              3.7  

            	
              Area
      of Interest

            

    

    

    No party
shall be under any obligation to stake or otherwise acquire any mineral claims
or other mining properties adjoining or in the vicinity of the Property, except
for the purpose of protecting any anomalies discovered on the Property, but any
right, title and interest in any other mineral claims or other mining property
staked by Optionor during the term of this Agreement in the area that is located
within 5 miles of the outer boundary of the original mineral claims and lease
comprising the Property shall be so staked for the benefit of both parties and
shall become part of the Property hereunder forthwith upon such staking and
shall be subject to all of the terms and conditions of this
Agreement.  Optionor shall have the first right of refusal to acquire
from Gustafson and its principal, Elaine Gustafson, all right, title and
interest in any other mineral claims staked by her during the term of this
Agreement in the area that is located within 5 miles of the outer boundary of
the original mineral claims and lease comprising the
Property.  Optionor may acquire any such claim for the sum of $10.00
per claim plus the cost of staking and filing each claim and any claim so
acquired by shall be deemed to have become part of the Property and subject to
the Royalty and other provisions of this Agreement forthwith upon such
acquisition by Optionor, provided that the minimum Royalty payable pursuant to
paragraph 3.1 shall not be increased by the addition of any claims within the
Area of Interest defined herein.

    

    4.           DEFAULT BY
OPTIONOR

    

    
      	
              (a)  

            	
              If,

            

    

     

    
      	
              (i)  

            	
              Optionor
      fails to perform any obligation required of Optionor under this Agreement
      (other than payments to Gustafson or any obligations pursuant to paragraph
      3.7 hereof), and such failure continues for 30 days following delivery of
      a notice from Gustafson demanding that Optionor remedy such failure;
      or

            

    

     

    
      	
              (ii)  

            	
              Optionor
      defaults in the payment of any Royalty reserved by this Agreement and such
      default continues for a period of 15 days or
  more

            

    

     

    Optionor
will, upon the request of Gustafson, execute and deliver to Davis & Company,
a conveyance in favour of Gustafson in registerable form transferring all
Optionor’s right, title and interest in the Property free and clear of all
liens, charges and encumbrances provided that such conveyance shall not be
registered and shall be held in trust by Davis & Company for 30 days during
which time Optionor may obtain the return of the conveyance by curing the
default or paying the Royalty arrears plus interest as set out in paragraph 3.1
as the case may be.

    

    
      	
              (b)  

            	
              In
      the event that Optionor fails to remedy the default during the 30 day
      period referred to in subparagraph (a), Optionor shall be deemed to have
      abandoned all of the Property pursuant to paragraph 5.3(b) and its
      obligations shall cease in accordance therewith and the provisions of
      paragraph 5.5 shall apply.

            

    

     

    
      	
              (c)  

            	
              Notwithstanding
      anything in this Agreement to the contrary, the obligation to deliver a
      conveyance shall not arise under subparagraph (a)(i) hereof so long as
      Optionor is proceeding diligently and continuously to remedy the failure
      and it shall not arise under subparagraph (a)(ii) in the event of royalty
      arrears arising as a result of an audit under paragraph 3.1 unless and
      until 30 days have elapsed from the issuance of the audit confirming the
      underpayment of Royalty by
Optionor.

            

    

     

    5.           GENERAL

    

    
      	
              5.1  

            	
              Assignment
      of Interest

            

    

    

    During
the term of this Agreement neither Gustafson nor Optionor shall sell, transfer
nor assign this Agreement or their right or beneficial interest in the Property
without the consent of the other party, which shall not be unreasonable withheld
EXCEPT THAT either party shall be permitted to assign this Agreement to an
Affiliate provided that the obligations of the assigning party under this
Agreement shall continue after the assignment jointly and severally with
assignee.  Any assignment shall be subject to the assignee entering
into an agreement, in form and substance satisfactory to counsel for the other
party, to be bound by this Agreement.

    

    
      	
              5.2  

            	
              Further
      Assurances

            

    

    

    The
parties shall, without further consideration, from time to time execute and
deliver further instruments and assurances as may be reasonably required for
registering or recording changes in ownership interests in the
Property.

    

    
      	
              5.3  

            	
              Limitation
      of Obligations of Optionor

            

    

    

    
      	
              (a)  

            	
              Nothing
      contained in this Agreement, nor any payment made, expenditure incurred or
      Mining Operations conducted by Optionor on or in connection with the
      Property or part of it, nor the doing of any act or thing by Optionor
      under the terms of this Agreement shall obligate Optionor to do anything
      else under this Agreement other than to make payment  and incur
      expenditures or to reconvey title to the extent that it may have expressly
      undertaken to do so pursuant to the terms of this
    Agreement;

            

    

     

    
      	
              (b)  

            	
              Optionor
      may at any time abandon all or part of the
  Property;

            

    

     

    
      	
              (c)  

            	
              In
      the event that Optionor abandons any or all of the Property pursuant to
      paragraph 5.3(b), Optionor shall execute and deliver a conveyance to and
      in favour of Gustafson in registerable form transferring all Optionor’s
      right, title and interest in the Property or part thereof that is
      abandoned free and clear of all liens, charges, encumbrances and the
      liabilities and obligations of Optionor shall cease with respect to the
      Property except for those incurred prior to the date of the conveyance and
      any environmental or reclamation obligations that are then outstanding;
      and

            

    

     

    
      	
              (d)  

            	
              In
      the event Optionor abandons part of the Property pursuant to paragraph
      5.3(b), the liabilities and obligations of Optionor shall cease with
      respect to the part of the Property so abandoned except for those incurred
      prior to the date of abandonment and as a result of the
      abandonment.

            

    

     

    
      	
              5.4  

            	
              Equipment

            

    

    

    In the
event that Optionor abandons all of the Property, all buildings, plant,
equipment, machinery, tools, appliances and supplies which Optionor may have
brought on the Property, during the term of this Agreement, may be removed by
Optionor at its own expense at any time not later than eight months after such
abandonment and any buildings, plant, equipment, machinery, tools, appliances
and supplies not so removed will become the property of Gustafson absolutely
unless Gustafson gives notice to Optionor to remove any such item, following
which Optionor shall promptly remove such specified items at its own
expense.

    

    
      	
              5.5  

            	
              Information

            

    

    

    If
Optionor abandons all of the Property, Optionor shall on request provide
Gustafson with a copy of all non interpretative reports, maps, plans, drill logs
and surveys of all work pertaining to the Property provided that Optionor does
not warrant the accuracy of those reports, maps plans, drill logs and surveys
and shall not be liable for any inaccuracies contained in them.

    

    
      	
              5.6  

            	
              Time

            

    

    

    Time
shall be of the essence of this Agreement and of every part of it and no
extension or variation of this Agreement shall operate as a waiver of this
provision.  Optionor covenants and agrees that it shall not for any
reason apply for relief from forfeiture in respect of its obligation to transfer
the Property back to Gustafson under the terms of this Agreement.

    

    
      	
              5.7  

            	
              Confidentiality
      of Information

            

    

    

    There
shall be no public release by Gustafson of any information concerning Mining
Operations on the Property without the prior written consent of Optionor unless
the information is required by a lawful authority or other regulatory body
having jurisdiction, in which case Optionor shall have the right to approve the
information to be disclosed, such approval not to be unreasonably
withheld.  Optionor shall notify Gustafson prior to any public release
of material information concerning Mining Operations on the
Property.

    

    
      	
              5.8  

            	
              Entire
      Agreement

            

    

    

    This
Agreement:

    

    
      	
              (a)  

            	
              sets
      forth the entire agreement between the parties and any persons who has in
      the past or who are now representing either of the
  parties;

            

    

     

    
      	
              (b)  

            	
              supercedes
      all prior understandings and communications between the parties or any of
      them, oral or written;

            

    

     

    
      	
              (c)  

            	
              constitutes
      the entire agreement between the
parties.

            

    

     

    Each
party acknowledges that this Agreement is entered into after full investigation
and that no party is relying on any statement or representation made by any
other which is not embodied in the Agreement.  No amendment, promise,
modification, statement or representation made or occurring subsequent to the
execution of this Agreement shall be effective unless it is in writing and
executed by each of the parties.

    

    
      	
              5.9  

            	
              Notices

            

    

    

    All
communications which may be or are required to be given by either part to the
other shall (in the absence of any specific provision to the contrary) be in
writing and delivered, telefaxed or sent by prepaid courier to the parties, at
their following respective addresses and telefax numbers:

    

    Gustafson
Holdings Ltd.

    1125 Keith Road

    Qualicum Beach, British Columbia V9K
2L7

    Fax: (250) 757 8867

    

    AMT Industries Canada,
Inc.

    Rt. 1 – Box 1092

    Fairfield, Idaho 83327

    Fax: (208) 764 2663

    

    And if
any payment or communication is sent by courier, it shall be conclusively deemed
to have been received on the third business day following the sending of it and,
if delivered or telecopied, it shall be conclusively deemed to have been
received at the time of delivery or transmission.  Either party may
from time to time change its address by notice to the other in accordance with
this paragraph.

    

    
      	
              5.10  

            	
              Payments
      to Gustafson

            

    

    

    All
payments required to be made to Gustafson by Optionor hereunder (other than that
required under paragraph 2.4 hereof) shall be made by Optionor directly into the
bank account of Gustafson at such bank as Gustafson may advise Optionor in
writing from time to time.

    

    
      	
              5.11  

            	
              Benefits
      of Successors

            

    

    

    This
Agreement shall enure to the benefit of and be binding on the parties and their
respective heirs, executors, administrators, successors and permitted
assigns.

    

    
      	
              5.12  

            	
              Execution

            

    

    

    This
Agreement may be executed in counterparts or by telefax and all such
counterparts shall constitute a single original and any telefax of this
Agreement may be relied upon as an original provided that it contains the
original signature of one of the parties.

    

    IN WITNESS WHEREOF the parties
have signed and sealed this Agreement.

    

    SIGNED,
SEALED AND DELIVERED

    

    

    GUSTOFSON
HOLDINGS
LTD.                                                                                     ADVANCED
MINERAL

    TECHNOLOGY CORPORATION

    

    Per:                                                                Per:

    

    

    

    Elaine
Gustafson                                                                           H.P.
Cash

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Schedule
“A”

    

    TILLICUM
PROPERTY

    

    Mining
Lease

    

    Mining
Lease No. 320414

    

    Mineral
Claims

    

    Name                                                           Tenure
Number

    Age
1                                                                255769

    Age
2                                                                255770

    Age
3                                                                255771

    Age
4                                                                255772

    Near
1                                                                255657

    Near
2                                                                255658

    Near
3                                                                255659

    Near
4                                                                255660

    Near
5                                                                255661

    Near
6                                                                255662

    Near
7                                                                255663

    Esto
#1                                                                255978

    Mid
#1                                                                256475

    Juanita                                                                255793

    Sandy Too
1                                                                255654

    Sandy Too
2                                                                255655

    Sandy Too
3                                                                255656

    Molly                                                                255833

    Derry #8
Pr                                                                256296

    Halifax                                                                248167

    Til
#1                                                                255765

    Til
#2                                                                255766

    Til
#3                                                                255767

    Little
Joe/Molly
Pr                                                                255532

    Black
Bear                                                                255531

    Golden
Hope                                                                255530

    

    Crown-Granted Undersurface
Rights

    

    Undersurface
Rights No. T5499(See KN 15094).  All Minerals Precious & Base
(Save Coal & Petroleum) in or under Lot 2206 known as “Black Fox” MC KD for
District Lot 2006 Kootenay District

    

    Undersurface
Rights No. T5497.  All Minerals Precious & Base (Save Coal &
Petroleum) in or under Lot 2207 known as “Black Fox Fractor” MC KD Transferred
to KN15093 for District Lot 2007 Kootenay District

    

    Undersurface
Rights T5498 (See XK 5671 and XK 14555).  All Minerals Precious &
Base (Save Coal & Petroleum) in or under Lot 2204 known as “Gray Wolf” MC KD
for District Lot 2009 Kootenay District

    

    Undersurface
Rights T5495 (See XK14532 and KN 15095).  All Minerals Precious &
Base (Save Coal & Petroleum) in or under Lot 2205 known as “Red
fox”  MC KD for District Lot 2205 Kootenay District

    

    Undersurface
Rights T5498 (See XK 5671 and XK 14535).  All Minerals Precious &
Base (Save Coal & Petroleum) in or under Lot 2204 known as “Gray Wolf” MC KD
for District Lot 2204 Kootenay District

    

    Undersurface
Rights T5496 (See XK 14553 and KX 15095).  All Minerals Precious &
Base (Save Coal & Petroleum) in or under Lot 2582 known as “Black Bear
Fraction” MC KD for District Lot 2582 Kootenay District.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Schedule
“B”

    

    Permitted
Encumbrances

    

    All
representation, limitations, provisos and conditions, if any, expressed in any
original grants from the Crown of the Crown-granted mineral
claims.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Schedule
“C”

    

    Nilex102.htm

    Exhibit 10.2

     

    
 

    BOUGHTON

    

    

    

    

    

    

    

    

    GUSTAFSON
HOLDINGS LTD.

    

    And

    

    AMT
INDUSTRIES CANADA INC.

    

    

    

    

    

    

    

    Amending
Agreement to Property Agreement

    Of March
28, 2005

    

    

    

    

    

    

    

    

    

    

    February
2010

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    THIS
AMENDING AGREEMENT made as of the 10th day
of February 2010

    

    BETWEEN:

    

    GUSTAFSON HOLDINGS LTD., a
body corporate registered under the laws of British Columbia having its
registered office at #2800 – 666 Burrard Street, Vancouver, B.C.

    

    (“Gustafson”)

    AND:

    AMT INDUSTRIES CANADA, INC., a
body corporate registered under the laws of British Columbia, having its
registered office at Suite 22, 14909 32nd
Avenue, Surrey, BC

    

    (“AMT”)

    

    WHEREAS

    

    
      	
              A.  

            	
              Gustafson
      and Advanced Mineral Technology Corporation (“AMTO”) are parties to a
      property agreement dated March 28, 2005 (the “Property Agreement”),
      attached hereto as Schedule “A”, whereby Gustafson sold and AMTO acquired
      the 100% undivided interest of Gustafson in the Property, as defined and
      described in the Property
Agreement;

            

    

     

    
      	
              B.  

            	
              By
      way of an interparty agreement of assignment among Gustafson, AMTO and AMT
      dated March 3, 2006 (the “Assignment”), attached
      hereto as Schedule “B”.  AMTO assigned its rights and
      obligations under the Property Agreement to AMT;
  and

            

    

     

    
      	
              C.  

            	
              Gustafson
      and AMT wish to enter into this Amending Agreement to make certain
      amendments to the Property Agreement, including, among other tings
      clarifying the calculation and payment of the
  Royalty.

            

    

     

    NOW THEREFORE THIS AGREEMENT
WITNESSES that in consideration of the terms and conditions herin
contained, the parties agree as follows:

    

    1.           INTERPRETATION

    

    
      	
              1.1  

            	
              Interpretation

            

    

    

    
      	
              (a)  

            	
              All
      capitalized terms not defined in this Amending Agreement have the meanings
      ascribed to them in the Property
Agreement.

            

    

     

    
      	
              (b)  

            	
              Where
      the context so permits the “Optionor” in the Property Agreement shall mean
      AMT to the extent that the context refers to a right or obligation under
      the Property Agreement conferred or imposed on the “Optionor” from the
      date of the Assignment.

            

    

     

    
      	
              1.2  

            	
              Headings

            

    

    

    The
headings of this Amending Agreement and the schedules are solely for convenience
of reference and do not affect the interpretation of it or define, limit or
construe the contents of any provision of this Amending Agreement.

    

    
      	
              1.3  

            	
              Number
      and Gender

            

    

    

    Words
importing the singular number shall include the plural and vice versa, words
importing the neuter gender shall include the masculine and feminine genders,
and words importing persons shall include firms and corporations and vice
versa.

    

    
      	
              1.4  

            	
              Governing
      Law

            

    

    

    This
Amending Agreement shall be governed by and construed in accordance with the
laws of the Province of British Columbia and the federal laws of Canada
applicable herein.

    

    
      	
              1.5  

            	
              Currency

            

    

    

    All
references to currency in this Amending Agreement are references to Canadian
currency unless otherwise expressly stipulated to the contrary.

    

    2.           AMENDMENTS
TO SECTION 1 OF THE PROPERTY AGREEMENT

    

    
      	
              2.1  

            	
              Definitions

            

    

    

    The
definition “Net Smelter Returns” in paragraph 1.1(g) of the Property Agreement
is deleted in its entirety and replaced with the following

    

    “Net
Smelter Returns” means the actual proceeds received by Optionor from any mint,
smelter, refinery or other purchaser from the sale of ores, valuable minerals,
industrial minerals, aggregate, gems or precious stones, metals (including
bullion) or concentrates (collectively “Product”) produced from the
Property and sold or proceeds received from an insurer in respect  of
Product, after deducting from such proceeds the following charges to the extent
that they were not deducted by the purchaser in computing payments:

    
      	
              (a)  

            	
              smelting
      and refining charges (including assaying and sampling costs specifically
      related to smelting or refining);

            

    

    
      	
              (b)  

            	
              penalties,
      smelter assay costs and umpire assay
costs;

            

    

    
      	
              (c)  

            	
              cost
      of freight and handling of ores, metals or concentrates from the
      Properties to any min, smelter, refinery, or other
    purchaser;

            

    

    
      	
              (d)  

            	
              marketing
      costs;

            

    

    
      	
              (e)  

            	
              costs
      of insurance in respect of Product;

            

    

    
      	
              (f)  

            	
              customs
      duties, severance tax, royalties, mineral taxes or the like payable in
      respect of the product; and

            

    

    
      	
              (g)  

            	
              sales,
      use, gross receipts, severance, and other taxes, if any, payable with
      respect to severance, production, removal, sale or disposition of the
      Product, but excluding any taxes on net
income.

            

    

    

    If
smelting or refining are carried out in facilities owned or controlled, in whole
or in part, by Optionor, charges, costs and penalties for such operations means
the amount Optionor would have incurred if those operations were carried out at
facilities not owned or controlled by Optionor then offering comparable services
for comparable products on open market prevailing terms.”

    

    3.           AMENDMENTS
TO SECTION 2 OF THE PROPERTY AGREEMENT

    

    
      	
              3.1  

            	
              Payment
      of Purchase Price

            

    

    

    Paragraph
2.4 of the Property Agreement is amended by adding the following paragraph after
the last sentence of Paragraph 2.4:

    

    “Gustafson
acknowledges that as of the date of this Amending Agreement, the Mining Lease,
as identified on Schedule “A” to the Property Agreement has not been
transferred, despite that Gustafson has agreed in this paragraph 2.4 to take all
reasonable steps to process such an assignment in favour of
Optionor.  Accordingly, Gustafson agrees, within 10 days of the date
of this Amending Agreement to execute, deliver and complete all necessary
documents as may be required to validly and effectively transfer legal and
beneficial title to the Mining Lease to AMT, including all such filings with the
Mineral Titles Online system.”

    

    3.2           Optionor’s
Rights

    

    
      	
               
      

            	
              Paragraph
      2.6(b) of the Property Agreement is deleted in its entirety and replaced
      with the following:

            

    

    

    
      	
               
      

            	
              “(b)  Notwithstanding
      Gustafson’s rights to a Royalty under this Agreement, Optionor shall have
      the right in its sole discretion to determine the manner in which to
      explore and develop the Property so long as all Mining Operations
      conducted by Optionor shall be in accordance with good exploration,
      development and mining practice, and in compliance will all applicable
      legislation PROVIDED THAT if at any time, Optionor wishes to sell,
      transfer, assign or otherwise dispose of all but not less than all of its
      interest in and to the Property and this Agreement, it shall be a
      condition to completion of any agreement for sale, transfer, assignment or
      disposition that the purchaser, grantee or transferee of any such interest
      will have first delivered to Gustafson, its agreement in writing related
      to this Agreement and to the Property,
  containing:

            

    

    

    
      	
              (i)  

            	
              a
      covenant with Gustafson by such transferee to perform all the obligations
      of Optionor to be performed under this Agreement in respect of the
      interest to be acquired by it from Optionor, including, the Optiono’s
      obligation in repect of the Royalty,
and

            

    

    
      	
              (ii)  

            	
              a
      provision subjecting any further sale, transfer or other disposition of
      such interst in the property and this Agreement or any portion thereof to
      the restrictions contained in this
paragraph.”

            

    

    

    4.           AMENDMENTS
TO SECTION 3 OF THE PROPERTY AGREEMENT

    

    
      	
              4.1  

            	
              Royalty

            

    

    

    Paragraph
3.1(a) of the Property Agreement is deleted in its entirety and replaced with
the following:

    

    “(a)           Optionor
shall pay to Gustafson as an ongoing Royalty the greater of $50,000 per calendar
year and:

    

    
      	
              (i)  

            	
              2.5%
      of the Net Smelter Returns received in the calendar quarter if the Average
      Grade in the calendar quarter was 0.5 ounces of gold per ton or
      less;

            

    

     

    
      	
              (ii)  

            	
              4.0%
      of the Net Smelter Returns received in the calendar quarter if the Average
      Grade in the calendar quarter was greater than 0.5 ounces of gold per ton
      but less than 1.0 ounces of gold per
ton;

            

    

     

    
      	
              (iii)  

            	
              5.0%
      of the Net Smelter Returns received in the calendar quarter if the Average
      Grade in the calendar quarter was equal to or greater than 1.0 ounces of
      gold per ton.

            

    

     

    The
Royalty provided in this paragraph 3.1(a) shall be pre-paid by equal successive
calendar monthly instalments in advance of $4,000 on account of such Royalty
with the first of such calendar monthly instalments being payable and paid on
the 1st day
of March 2010 and thereafter on the 1st day
of each successive calendar month but so that any balance of the annual pre-paid
Royalty computed and payable as aforesaid which remains unpaid at 1st
March in each year shall be payable and paid with fourteen (14) days of written
demand therefore by Gustafson upon Optionor and any excess of payment on account
of pre-paid Royalty paid by Optionor at 1st
March in each year shall be credited against the next succeeding calendar
monthly instalments of pre-paid Royalty payable by Optionor until Optionor
abandons all of the Property in accordance with paragraph 5.3(b).  Any
Royalties not paid within 15 days following the beginning of a calendar month
shall bear interest at an annual rate equivalent to the Prime Rate charged by
Optionor’s Bank in the preceding month plus 5% from the date the Royalty payment
was due until it is paid.

    

    5.           AMENDMENTS
TO SECTION 4 OF THE PROPERTY AGREEMENT

    

    
      	
              5.1  

            	
              Default
      by Optionor

            

    

    

    Paragraphs
4.1(a), (b) and (c) are deleted in their entirety and replaced with the
following:

    

    “4.1           Default
in Payment of any Royalty

    

    If the
Optionor defaults in the payment of any Royalty reserved under this Agreement,
such Royalty payments shall bear interest as set out in paragraph 3.1(a) of the
Property Agreement (as amended)”

    

    6.           AMENDMENTS
TO SCHEDULE “A” TO THE PROPERTY AGREEMENT

    

    
      	
              6.1  

            	
              Property

            

    

    

    The
parties acknowledge that because of changes to the recording and registration of
mining claims in British Columbia, the Property as described in Schedule “A” to
the Property Agreement has changed, such that the Property that is the subject
of the Property Agreement is as described in Schedule “C” to this Amending
Agreement.  As of the date of this Amending Agreement, each of AMT and
Gustafson further acknowledge that it has not staked or otherwise acquired
additional mineral claims within the area of interest contemplated by paragraph
3.7 of the Property Agreement.

    

    7.           GENERAL

    

    7.1           Mutual
acknowledgements

    

    Each of the parties acknowledge and
agree with the other that at the date hereof;

    

    
      	
              (a)  

            	
              all
      other terms and conditions of the Property Agreement remain unchanged and
      in full force and effect;

            

    

     

    
      	
              (b)  

            	
              the
      Assignment is valid and subsisting in all its terms and the consent and
      approval of Gustafson to such assignment from AMTO to AMT was freely
      given; and

            

    

     

    
      	
              (c)  

            	
              there
      has not occurred any default by either AMTO or AMT, as contemplated by
      section 4 of the Property Agreement which would entitle Gustafson to
      demand the reconveyance of AMT’s right title and interest in the
      Property

            

    

     

    7.2           Further
Assurances

    

    The
parties shall, without further consideration, from time to time execute and
deliver further instruments and assurances as may be reasonably required for
carrying out the full extent and meaning of this Amending
Agreement.

    

    
      	
              7.3  

            	
              Notices

            

    

    

    All
communications which may be or are required to be given by either party to the
other shall (in the absence of any specific provision to the contrary) be in
writing and delivered, sent by facsimile transmission or sent by prepaid courier
to the parties, at their following respective addresses and facsimile
numbers:

    

    Gustafson Holdings Ltd.

    1125 Keith Road

    Qualicum Beach, British Columbia V9K
2L7

    Fax: (250) 757 8867

    

    AMT Industries Canada,
Inc.

    Rt. 1 – Box 1092

    Fairfield, Idaho 83327

    Fax: (208) 764 2663

    

    And if
any payment or communication is sent by courier, it shall be conclusively deemed
to have been received on the third business day following the sending of it and,
if delivered or sent by facsimile transmission, it shall be conclusively deemed
to have been received at the time of delivery of transmission.  Either
party may from time to time change its address by notice to the other in
accordance with this paragraph.

    

    7.4           Payment to
Gustafson

    

    All
payments required to be made to Gustafson under the Property Agreement, as
amended by this Amending Agreement, shall be made by AMT directly into the bank
account of Gustafson at such bank as Gustafson may advise Optionor in writing or
in such other commercially reasonable manner as Gustafson may, in writing,
direct AMT from time to time.

    

    7.5           Benefits to
Successors

    

    This
Amending Agreement shall enure to the benefit of and be binding on the parties
and their respective successors and permitted assigns.

    

    7.6           Execution

    

    This
Amending Agreement may be executed in counterparts or by facsimile copy and all
such counterparts shall constitute a single original and any facsimile copy of
this Amending Agreement may be relied upon as an original provided that it
contains the original signature of one of the parties.

    

    
      	
              7.7  

            	
              Legal
      Advice

            

    

    

    Gustafson
represents and warrants to AMT that:

    

    
      	
              (a)  

            	
              it
      has been advised to, and has had the opportunity to, consult with and
      obtain independent legal advice from its won solicitors before entering
      into this Amending Agreement; and

            

    

    
      	
              (b)  

            	
              it
      has read and fully understands and accepts this Amending
      Agreement.

            

    

    

    IN WITNESS WHEREOF the parties
have executed this Amending Agreement as of the day and year written on the
first page.

    

    GUSTAFSON
HOLDINGS
LTD                                                                                     AMT
INDUSTRIES CANADA INC.

    

    

    

    Per:                                                      

    William
Dean – President

    

    Per:

    

    Per:                                                      

    Elaine
Gustafson –
Secretary                                                                           H.
Philip Cash – President/CEO

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Schedule
“C”

    

    Property
Description

    

    Tenure

    Tenure                                                      Tenure              Sub           Map                                Good
To

    Number              Claim
Name                                        Owner              Type           Type              Number                   Issue
Date                           Date              StatusArea (ha)

    555065              TILLICUM
1                                        202920
(100%)                                      Mineral                   Claim                 082F           2007/mar/262010/oct/31GOOD166.2137

    555066              TILLICUM
2                                        202920
(100%)                                      Mineral                   Claim                 082F           2007/mar/262010/oct/31GOOD498.769

    555068              TILLICUM
3                                        202920
(100%)                                      Mineral                   Claim                 082F           2007/mar/262010/oct/31GOOD498.4743

    555069              TILLICUM
4                                        202920
(100%)                                      Mineral                   Claim                 082F           2007/mar/262010/oct/31GOOD457.1521

    555071              TILLICUM
5                                        202920
(100%)                                      Mineral                   Claim                 082F           2007/mar/262010/oct/31GOOD498.3402

    555074              TILLICUM
6                                        202920
(100%)                                      Mineral                   Claim                 082F           2007/mar/262010/oct/31GOOD415.4236

    555078              TILLICUM
7                                        202920
(100%)                                      Mineral                   Claim                 082F           2007/mar/262010/oct/31GOOD269.9478

    555079              TILLICUM
8                                        202920
(100%)                                      Mineral                   Claim                 082F           2007/mar/262010/oct/31GOOD20.7741

    555087              TILLICUM
9                                        202920
(100%)                                      Mineral                   Claim                 082K           2007/mar/262010/oct/31GOOD207.6573

    555089              TILLICUM
10                                        202920
(100%)                                      Mineral                   Claim                 082F           2007/mar/262010/oct/31GOOD20.7741

    555728              TILLICUM
11                                        202920
(100%)                                      Mineral                   Claim                 082F           2007/apr/042010/oct/31GOOD498.3691

    320414(1)                                                      138164
(100%)                                      Mineral                   Lease                 082F           1996/jan/232011/jan/23GOOD40.30

    

    
      	
              (1)

            	
              This
      Mineral Lease is currently recorded in the name of Gustafson; however,
      pursuant to paragraph 3.1 of this Amending Agreement, Gustafson has agreed
      to take all reasonable steps to process such an assignment in favour of
      Optionor.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00175-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00175-of-00352.parquet"}]]