Document:

EXHIBIT  10.7

PROMISSORY AGREEMENT ENTERED INTO BY MRS. MARIA DEL CARMEN VALENZUELA BREACH
DE CABALLERO, ACTING AS  Attorney-in-Fact OF THE COMPANIA MINERA NAVOJOA, S.A.
de C.V. (limited liability company), hereinafter referred to by her name or as
the CONCESSIONARY, represented by its, Mrs. MARIA DEL CARMEN VALENZUELA-BREACH
DE CABALLERO, and CORPORACION AMERMIN, S.A. DE C.V. (limited liability
company), represented by Mr. RAMIRO TREVIZO-LEDEZMA, acting as its
Attorney-in-Fact, agreement which they subject to the following STATEMENTS AND
CLAUSES.

                            STATEMENTS

A)  The CONCESSIONARY declares as follows:

FIRST:  That they are the titleholder of the rights derived from several
Mining Exploitation Titles listed below:

NAME OF LOT                       GUADALUPE DE LOS REYES
LOCATION OF LOT                   GUAZAPARES MUNICIPALITY
                                  STATE OF CHIHUAHUA
SUBSTANCES COVERED                GOLD AND SILVER
ARE OF LOT                        8 HECTARES
TITLE NUMBER                      172225

NAME OF LOT                       EL ROSARIO
LOCATION OF LOT                   GUAZAPARES MUNICIPALITY
                                  STATE OF CHIHUAHUA
SUBSTANCES COVERED                GOLD, SILVER, LEAD, COPPER, AND ZINC
ARE OF LOT                        14.0000 HECTARES
TITLE NUMBER                      166430

NAME OF LOT                       SWANWICK
LOCATION OF LOT                   GUAZAPARES MUNICIPALITY
                                  STATE OF CHIHUAHUA
SUBSTANCES COVERED                GOLD, SILVER, AND LEAD
ARE OF LOT                        70.1316 HECTARES
TITLE NUMBER                      166428

<PAGE>

NAME OF LOT                       LAS TRES S.S.S.
LOCATION OF LOT                   GUAZAPARES MUNICIPALITY
                                  STATE OF CHIHUAHUA
SUBSTANCES COVERED                GOLD, SILVER, AND LEAD
ARE OF LOT                        19.1908 HECTARES
LOCATION OF LOT                   166429

NAME OF LOT                       LAS TRES B.B.B.
LOCATION OF LOT                   GUAZAPARES MUNICIPALITY
                                  STATE OF CHIHUAHUA
SUBSTANCES COVERED                GOLD, SILVER, AND LEAD
ARE OF LOT                        23.0010 HECTARES
TITLE NUMBER                      166427

NAME OF LOT                       EL CARMEN
LOCATION OF LOT                   GUAZAPARES MUNICIPALITY
                                  STATE OF CHIHUAHUA
SUBSTANCES COVERED                GOLD, SILVER, AND LEAD
ARE OF LOT                        59.0864 HECTARES
TILE NUMBER                       166426

NAME OF LOT                       SAN MIGUEL
LOCATION OF LOT                   GUAZAPARES MUNICIPALITY
                                  STATE OF CHIHUAHUA
SUBSTANCES COVERED                GOLD AND SILVER
ARE OF LOT                        12.9458 HECTARES
TITLE NUMBER                      166401

NAME OF LOT                       SANTA CLARA
LOCATION OF LOT                   GUAZAPARES MUNICIPALITY
                                  STATE OF CHIHUAHUA
SUBSTANCES COVERED                GOLD, SILVER, AND LEAD
ARE OF LOT                        15 HECTARES
TITLE NUMBER                      166425

NAME OF LOT                       SANGRE DE CRISTO
LOCATION OF LOT                   GUAZAPARES MUNICIPALITY
                                  STATE OF CHIHUAHUA
SUBSTANCES COVERED                GOLD, SILVER, AND LEAD
ARE OF LOT                        41 HECTARES
TITLE NUMBER                      166424

NAME OF LOT                       EMPALME
LOCATION OF LOT                   GUAZAPARES MUNICIPALITY
                                  STATE OF CHIHUAHUA
SUBSTANCES COVERED                GOLD AND SILVER
ARE OF LOT                        6 HECTARES
TILE NUMBER                       166423

<PAGE> 2

NAME OF LOT                       SAN LUIS
LOCATION OF LOT                   GUAZAPARES MUNICIPALITY
                                  STATE OF CHIHUAHUA
SUBSTANCES COVERED                GOLD, SILVER, AND LEAD
ARE OF LOT                        4 HECTARES
TITLE NUMBER                      166422

NAME OF LOT                       SAN JUAN
LOCATION OF LOT                   GUAZAPARES MUNICIPALITY
                                  STATE OF CHIHUAHUA
SUBSTANCES COVERED                GOLD AND SILVER
ARE OF LOT                        3 HECTARES
TITLE NUMBER                      166402

SECOND:  That on the above-mentioned titles weighs no obligation or lien, they
are not subject to any type of exploration or exploitation agreement or of
option or promise to enter into any of those mining contracts or of any
another nature.  She declares that on the rights derived from the titles there
is no lawsuit or controversy with other individuals or with authorities that
could hinder the free exercise of the rights that might be derived from the
exploitation title and that all concessions are grouped in the so-called
AGRUPAMIENTO SAN MIGUEL (SAN MIGUEL GROUP).

THIRD:  That they have complied with the work and the investments described in
the Exploitation Titles according to the effective date stated therein.

B)   The BUYER declares as follows:

1.   That they are usually engaged in business activities in general and
specifically in investing in the mining field in Mexico.

a)   That they have the knowledge, contacts, financial and technical resources
required to carry out the execution of the agreement herein.

<PAGE> 3

b)   Both parties jointly state that it is their own free will to enter into
this agreement, committing themselves to its total compliance, subject to the
following:

                             CLAUSES

FIRST:   COMPANIA MINERA NAVOJOA, S.A. de C.V. (limited liability company)
acting as CONCESSIONARY, represented by its Attorney-in-Fact, Mrs. MARIA DEL
CARMEN VALENZUELA-BREACH DE CABALLERO, and CORPORACION AMERMIN, S.A. DE C.V.,
represented by its Attorney-in-Fact, Mr. RAMIRO TREVIZO-LEDEZMA, enter into a
PROMISE TO SELL AGREEMENT regarding the rights derived from the mining
concessions described in item A), number 1, in the Statements section herein.

SECOND:  The PROMISE TO SELL AGREEMENT shall be effective without renewal for
sixty (60) natural days beginning from the date of this agreement and shall
expire on the tenth (10th) day of the month of July two thousand five (2005).

THIRD:   For the (sixty) 60-day period of the Promise to Sell Agreement
herein, the PROMISSORY BUYER is bound to pay to the CONCESSIONARY the amount
of US$10,000.00 (TEN THOUSAND DOLLARS AND 00/100 U.S. Cy.), amount which shall
be paid no later than on the eighteenth (18th) day of the month of March two
thousand five (2005).  On the tenth (10th) day of the month of July two
thousand five (2005), the PROMISSORY BUYER is bound to advise the
CONCESSIONARY of their wish to legalize the juridical act by which the rights
over the mining concessions are to be transferred and any other information
related thereto; the final act should be held and the first payment referred
to in the agreement, whose terms are stated below, shall be made no later that
on the thirty-first (31st) day of the month of July two thousand five (2005).

<PAGE> 4

In the event that said juridical act has not yet been legalized nor the amount
for the first price value has been made by that date, the agreement herein
shall be annulled, and both parties expressly agree that the agreement will be
considered as concluded and annulled by merely   crediting this fact, without
any responsibility for the parties and that this clause shall be considered a
judged case.

FOURTH:  If at the mentioned date the amount stated in the preceding clause
has not yet   been paid to the CONCESSIONARY through its representative, the
promissory agreement herein shall be annulled.

FIFTH:  The final agreement that may be drawn in the event that the option to
acquire rights over the mining lots subject of this promise is exercised, the
following clauses shall be effective, unless it is legalized under different
terms by mutual agreement and with the express consent of the CONCESSIONARY,
only with regard to the form of the juridical act by means of which the rights
over the mining concessions are transferred.

SIXTH:  The terms under which the agreement is to be drawn shall be the
following:

"SALES AGREEMENT WITH DOMAIN RESERVE ENTERED INTO BY MRS. MARIA DEL CARMEN
VALENZUELA-BREACH DE CABALLERO, ACTING AS ATTORNEY-IN-FACT OF THE COMPANY
MINERA NAVOJOA, S.A. DE C.V., HEREINAFTER REFERRED TO BY HER NAME OR AS
CONCESSIONARY AND CORPORACION AMERMIN, S.A. DE C.V., HEREIN REPRESENTED BY ITS
ATTORNEY-IN-FACT, MR. RAMIRO TREVIZO-LEDEZMA, HEREINAFTER REFERRED TO BY HIS
NAME OR AS THE BUYER, ACT WHICH IS SUBJECT TO THE FOLLOWING STATEMENTS AND
CLAUSES.

                            STATEMENTS

A) The CONCESSIONARY declares as follows:

FIRST:  That they are the titleholder of the rights derived from the various
Mining Exploitation Titles listed below:

NAME OF LOT                        GUADALUPE DE LOS REYES
LOCATION OF LOT                    GUAZAPARES MUNICIPALITY
                                   STATE OF CHIHUAHUA
SUBSTANCES COVERED                 GOLD AND SILVER
ARE OF LOT                         8 HECTARES
TILE NUMBER                        172225

NAME OF LOT                        EL ROSARIO
LOCATION OF LOT                    GUAZAPARES MUNICIPALITY
                                   STATE OF CHIHUAHUA
SUBSTANCES COVERED                 GOLD, SILVER, LEAD, COPPER, AND ZINC
ARE OF LOT                         14.0000 HECTARES
TITLE NUMBER                       166430

NAME OF LOT                        SWANWICK
LOCATION OF LOT                    GUAZAPARES MUNICIPALITY
                                   STATE OF CHIHUAHUA
SUBSTANCES COVERED                 GOLD, SILVER, AND LEAD
ARE OF LOT                         70.1316 HECTARES
TITLE NUMBER                       166428

NAME OF LOT                        LAS TRES S.S.S.
LOCATION OF LOT                    GUAZAPARES MUNICIPALITY
                                   STATE OF CHIHUAHUA
SUBSTANCES COVERED                 GOLD, SILVER, AND LEAD
ARE OF LOT                         19.1908 HECTARES
TITLE NUMBER                       166429

NAME OF LOT                        LAS TRES B.B.B.
LOCATION OF LOT                    GUAZAPARES MUNICIPALITY
                                   STATE OF CHIHUAHUA
SUBSTANCES COVERED                 GOLD, SILVER, AND LEAD
ARE OF LOT                         23.0010 HECTARES
TITLE NUMBER                       166427

<PAGE> 6

NAME OF LOT                        EL CARMEN
LOCATION OF LOT                    GUAZAPARES MUNICIPALITY
                                   STATE OF CHIHUAHUA
SUBSTANCES COVERED                 GOLD, SILVER, AND LEAD
ARE OF LOT                         59.0864 HECTARES
TITLE NUMBER                       166426

NAME OF LOT                        SAN MIGUEL
LOCATION OF LOT                    GUAZAPARES MUNICIPALITY
                                   STATE OF CHIHUAHUA
SUBSTANCES COVERED                 GOLD AND SILVER
ARE OF LOT                         12.9458 HECTARES
TITLE NUMBER                       166401

NAME OF LOT                        SANTA CLARA
NUMBER OF LOT                      GUAZAPARES MUNICIPALITY
                                   STATE OF CHIHUAHUA
SUBSTANCES COVERED                 GOLD, SILVER, AND LEAD
ARE OF LOT                         15 HECTARES
TITLE NUMBER                       166425

NAME OF LOT                        SANGRE DE CRISTO
NUMBER OF LOT                      GUAZAPARES MUNICIPALITY
                                   STATE OF CHIHUAHUA
SUBSTANCES COVERED                 GOLD, SILVER, AND LEAD
ARE OF LOT                         41 HECTARES
TITLE NUMBER                       166424

NAME OF LOT                        EMPALME
LOCATION OF LOT                    GUAZAPARES MUNICIPALITY
                                   STATE OF CHIHUAHUA
SUBSTANCES COVERED                 GOLD AND SILVER
ARE OF LOT                         6 HECTARES
TITLE NUMBER                       166423

NAME OF LOT                        SAN LUIS
LOCATION OF LOT                    GUAZAPARES MUNICIPALITY
                                   STATE OF CHIHUAHUA
SUBSTANCES COVERED                 GOLD, SILVER, AND LEAD
ARE OF LOT                         4 HECTARES
TITLE NUMBER                       166422

NAME OF LOT                        SAN JUAN
LOCATION OF LOT                    GUAZAPARES MUNICIPALITY
                                   STATE OF CHIHUAHUA
SUBSTANCES COVERED                 GOLD AND SILVER
ARE OF LOT                         3 HECTARES
TITLE NUMBER                       166402

<PAGE> 7

SECOND:  That on the above-mentioned titles weighs no obligation or lien, they
are not subject to any type of exploration or exploitation agreement or of
option or promise to enter into any of those mining contracts or of any
another nature.  She declares that on the rights derived from the titles there
is no lawsuit or controversy with other individuals or with authorities that
could hinder the free exercise of the rights that might be derived from the
exploitation title and that all concessions are grouped in the so-called
AGRUPAMIENTO SAN MIGUEL.

THIRD:  That they have complied with work and investments described in the
Exploitation Titles according to the effective date stated therein.

B)  The BUYER declares as follows:

1.  That they are usually engaged in business activities in general and
specifically investing in the mining field in Mexico.

a)  That they have the knowledge, contacts, financial and technical resources
required to carry out the execution of the agreement herein.
FOURTH: Both parties jointly state that it is their own free will to enter
into this agreement, committing themselves to its total compliance, subject to
the following:

                             CLAUSES

FIRST:  COMPANIA MINERA NAVOJOA, S.A. de C.V. (limited liability company)
acting as CONCESSIONARY, represented by its Attorney-in-Fact, Mrs. MARIA DEL
CARMEN VALENZUELA-BREACH DE CABALLERO, sells with DOMAIN RESERVE to
CORPORACION AMERMIN, S.A. DE C.V., represented by its Attorney-in-Fact, RAMIRO
TREVIZO-LEDEZMA, the rights derived from the mining concessions described in
item A), number 1, in the Statements Chapter herein.

<PAGE> 8

SECOND:  The sales price is the amount of US$700,000.00 (SEVEN HUNDRED
THOUSAND DOLLARS AND 00/100 U.S. CY.), sum that will be paid to the BUYER as
follows:

A)   The amount of US$300,000.00 (THREE HUNDRED THOUSAND DOLLARS AND 99/100
U.S. CY.) on the date of execution of the agreement herein.

B)   The amount of US$100,000.00 (ONE HUNDRED DOLLARS AND 00/100 U.S. CY.)
that is to be paid by the BUYER six (6) months after the date of execution of
the agreement herein.

C)   The amount of US$100,000.00 (ONE HUNDRED DOLLARS AND 00/100 U.S. CY.)
that the BUYER is bound to pay twelve (12) months after the execution of the
agreement herein.

D)   The amount of US$100,000.00 (ONE HUNDRED DOLLARS AND 00/100 U.S. CY.)
that the BUYER is bound to pay eighteen (18) months after the execution of the
agreement herein.

E)   The amount of US$100,000.00 (ONE HUNDRED DOLLARS AND 00/100 U.S. CY.)
that the BUYER is bound to pay twenty-four (24) months after the execution of
the agreement herein.

For compliance purposes regarding agreed payments, both CONTRACTING PARTIES
point out as their address that located at 1301 (one three zero one) Jimenez
Street on business days, which are considered to be from Monday to Friday,
working hours from 9:00 a.m. to 5:00 p.m.

On the date total payment is received on the above-mentioned dates or before
the agreed date if total payment is made in advance, the CONCESSIONARY is
bound to cancel the DOMAIN RESERVE described herein due to payment compliance.

<PAGE> 9

THIRD:  Upon expiration of the terms of the present agreement and in the event
that the BUYER has not incurred in any agreement annulment cause or if the
BUYER has met payment terms according to the amounts described in the
preceding clause, the CONCESSIONARY is bound to assign the rights over the
mining concessions issue of this agreement in favor of the person or persons
that the BUYER assigns.  Total expenses generated on account of the transferal
of the rights over the mining concessions through a juridical act instrumented
for such purposes shall be fully paid by the BUYER or by whoever acquires
these rights, holding the CONCESSIONARY free from any payment liability.
Total expenses of these values including Income Tax for which the
CONCESSIONARY may be liable which should be paid by the BUYER on behalf of the
CONCESSIONARY since payments made are free from any liability or lien for the
CONCESSIONARY.

FOURTH:  The CONCESSIONARY shall make available to the BUYER the mentioned
mining lots so that they may start exploring and exploiting activities therein
beginning from the date the agreement herein or de juridical act performed for
the transfer of rights over the mining lots is ratified before Notary Public
and after having made the first payment described under the terms of the Third
Clause herein.

FIFTH:  The BUYER may willingly WITHDRAW from exploration and exploiting
activities on the mining lots at any time if they deem exploitation of said
lots to be not feasible, in which case any work performed and any improvements
that might have been carried out therein shall remain in benefit of the mining
lots and of the CONCESSIONARY at no charge.  Any payments received up to that
date by the CONCESSIONARY shall remain in her power free from payment of any
fiscal charges or other derived from said payments, and the BUYER shall give
the CONCESSIONARY the technical and geological information obtained from any
tests performed during the time the BUYER occupied the mining lots.

<PAGE> 10

SIXTH:  The BUYER is bound to pay for any sort of taxes to maintain in force
the rights over the reference mining lots, as well as to comply at its own
expense and on behalf the CONCESSIONARY the obligations imposed by the Mining
Act and its Regulations for due compliance of said legal dispositions and of
those derived from the exploration and exploitation of the mining lots issue
of the agreement herein.

SEVENTH:  Termination of the agreement herein may be as follows:

a)   Due to advance termination when the BUYER terminates the agreement herein
giving prior notice to the CONCESSIONARY with at least thirty (30) natural
days in advance.  From the date said notice is received and verified, the
obligation to make payment described in the Third Clause herein by the BUYER
shall stop and the mining lots shall be returned to the CONCESSIONARY.

b)   Upon conclusion of business, after the BUYER has met its obligations and
has exercised its option to acquire the mining concessions and the obligation
to enter into a juridical act to transfer the mining lots to its name or to in
favor of the individual or company assigned for said purposes.  The BUYER
shall notify the CONCESSIONARY within a (thirty) 30-natural day term about the
individual or individuals in whose favor the mining concessions are to be
transferred and about the juridical act that should be legalized for
transferring purposes, for which the BUYER shall be responsible. The sole
obligation of the CONCESSIONARY shall be that of checking and accepting it in
order to comply with this obligation and to proceed to the corresponding
execution.

<PAGE> 11

c)   Due to failure to comply with obligations set forth in the agreement
herein by either the BUYER or the CONCESSIONARY.  Main failure to comply is,
on one part, the fact that the CONCESSIONARY does not allow the BUYER to carry
out exploration and exploitation work on the mining lots covered by the mining
concessions and, on the other, the fact that the BUYER does not meet one or
several of the payments for which they are liable, as well as obligations of
both parties derived from the agreement herein.

EIGHTH:  Failure to comply with any obligations described in the clauses of
the agreement herein or restatement of annulment causes on the part of the
BUYER shall consequently bind the BUYER to pay for any damage caused from the
date of said failure to comply until the date the mining lots covered by the
mining concessions are returned, regardless of the right of the CONCESSIONARY
to annul the agreement or to terminate it and recover the mining lots.
Payments made for the exploitation of the mining lots shall be deemed as
having been met.

The above is regardless of the fact that advance expiration causes will be
restated as contemplated in articles 1842 (one eight four two) of the Civil
Code in force in the State of Chihuahua.

NINTH:  For purposes of recording the existence of annulment and advance
expiration causes of the term granted to the CONCESSIONARY to make payments
and to comply with obligations contained in the agreement herein in addition
to legal accessories, both parties expressly agree that the CONCESSIONARY
shall request the services of a Notary Public or jurisdictional organs at
discretion of the CONCESSIONARY.

TENTH:  Both parties agree that after the CONCESSIONARY has recorded the
existence of the annulment or advance expiration cause, they may choose to
exercise the Summary or the Ordinary means to collect payment to their
discretion and to be subject to the competent tribunals of the city of
Chihuahua, regardless of any other tribunal to which they might be entitled
due to their present or future addresses.

<PAGE> 12

ELEVENTH:  Both parties are formally bound to help each other during the life
of the agreement herein or until business has concluded with regard to any
procedure before authorities or individuals that require their intervention
and to mutually back up each other in performing any sort of transaction in
benefit of either of the two parties.

TWELFTH:  Any kind of notice that must be given between the parties in
conformity with the agreement herein shall be made legitimately, not allowing
any doubts, in writing and at the address that the parties point out for that
purpose.  The parties will inform each other about any notice they receive
from mining authorities no later that the day after receiving it.

THIRTEENTH:  Expenses and taxes generated  or originated in the future, if
any, derived from the juridical act legalized for the transfer of mining funds
will be at the expense of the BUYER or by the individual or company assigned
by the BUYER, including taxes levied on any profit or income received by the
CONCESSIONARY on account of the agreement herein, and said payment shall be
made by the BUYER or the individual or company assigned by the latter for the
CONCESSIONARY.

FOURTEENTH:  In the event of conflict in construing and compliance of the
agreement herein, both parties are expressly subject to the Competent
Tribunals of the city of Chihuahua, State of Chihuahua, expressly forfeiting
territorial or personal competence to which they might be entitled on account
of their address.  For all legal effects derived from the agreement herein,
both parties state that their addresses for notification purposes and their
representatives are as follows:

BUYER:

NAME:     PENDING AT THE DATE THE AGREEMENT HEREIN WAS DRAWN.

ADDRESS:  PENDING AT THE DATE THE AGREEMENT HEREIN WAS DRAWN.

<PAGE> 13

CONCESSIONARY:

NAME:     MARIA DEL CARMEN VALENZUELA BREACH DE CABALLERO, Attorney-at-Law.

ADDRESS:  1301 Jimenez Street (one three zero one), Colonia Obrera, Zip code
          31350 (three one three five zero).

DRAWN IN THE CITY OF CHIHUAHUA, STATE OF CHIHUAHUA, ON THE TWELFTH DAY OF MAYO
TWO THOUSAND FIVE.  IN WITNESS WHEREOF.

                          CONCESSIONARY

                 /s/ Maria Del Carmen Valenzuela
              -------------------------------------
                           (signature)
              COMPANIA MINERA NAVOJOA, S.A. DE C.V.
                   MARIA DEL CARMEN VALENZUELA-
                       BREACH DE CABALLERO
                         ATTORNEY-IN-FACT

                         PROMISSORY BUYER

                    /s/ Ramiro Trevizo-Ledezma
             ----------------------------------------
                           (signature)
                CORPORACION AMERMIN, S.A. DE C.V.
                      RAMIRO TREVIZO-LEDEZMA
                         ATTORNEY-IN-FACTEXHIBIT 10.8

     JOINT VENTURE AGREEMENT
     -----------------------

     ENTERED INTO AND BETWEEN

     CORPORACION AMERMIN, S.A. DE C.V.

     (OPERATING PARTNER)

     AND

     MINAS DE TOPAGO, S.A. DE C.V.

     (MINORITY PARTNER)

     FOR

     THE MINING, EXTRACTION, PROCESSING AND
     MARKETING OF PROFITABLE MINERALS FROM
     SEVERAL MINING PROPERTIES.

     PLACE & DATE:   CHIHUAHUA, CHIHUAHUA, MEXICO.
     JUNE 9th, 2005.

<PAGE> 1

Joint Venture Agreement for the mining, extraction, processing and marketing
of profitable minerals from several mining properties, entered on and between
CORPORACION AMERMIN, S.A. DE C.V. (that hereinafter shall be referred to as
the OPERATING PARTNER) hereby represented by its Sole Administrator RAMIRO
TREVIZO LEDESMA, on one hand and on the other  MINAS DE TOPAGO, S.A. DE C.V.
(that hereinafter shall be referred to as the MINORITY PARTNER) hereby
represented by its Sole Administrator ING. MIGUEL CERVANTES SOTO, according to
the following:

     S T A T E M E N T S
     ---------------------

A). The MINORITY PARTNER by means of its legal representative states as
follows:

I.- That the body corporate he is representing is a Mexican company duly
formed in Chihuahua  City, State of Chihuahua, on January 13th,1995, before
Maria del Carmen Valenzuela Breach, Notary Public number 26, through Public
Deed number 1690, and filed in the Chihuahua City Registry of Commerce under
number 1243, page 61 of Book 648.

II.- That the company he is hereby representing has the lawful control of the
following mining properties:

PROPERTY 1:
-----------
Property's name................................... "LA COLMENA"
Type of concession................................ Exploitation
Title number...................................... 181965
Property's location............................... Municipality of Chinipas,
                                                   State of Chihuahua, Mexico
Property's surface................................ 16 hectares

PROPERTY 2:
----------
Property's name................................... "LA BILLONARIA"
Type of concession................................ Exploitation
Title number ..................................... 196120
Property's location............................... Municipality of Chinipas,
                                                   State of Chihuahua, Mexico
Property's surface................................ 34 hectares

PROPERTY 3:
-----------
Property's name................................... "CUITLAHUAC"
Type of concession................................ Exploration
File number ...................................... 191845
Property's location............................... Municipality of Chinipas,
                                                   State of Chihuahua, Mexico
Property's surface................................ 150 hectares

<PAGE> 2

PROPERTY 4:
----------
Property's name................................... "LA MEXICANA"
Type of concession................................ Exploitation
Title number...................................... 211981
Property's location............................... Municipality of Chinipas,
                                                   State of Chihuahua, Mexico
Property's surface................................ 675.32 hectares

The above mining properties hereinafter shall be referred to as the
PROPERTIES.

III.- That the PROPERTIES are free of any encumbrances, liens, or domain
limitations at the time of signing of this Agreement (the "Date of Signing").

IV.-That the PROPERTIES  are not in compliance with the Federal Law of Duties
and the Mining Law as to the payment of surface taxes; thus there are past
amounts due related with the said tax, and this event was previously informed
to the OPERATING PARTNER. Besides, the aforesaid   due taxes shall be paid as
provided for in paragraph "C)" of Clause 3 hereunder.

V.- That the PROPERTIES are not currently engaged under any previous valid
contract or agreement, either verbal or in written, with a third party.

VI.- That all rights derived from the mining certificates or titles to the
PROPERTIES have not been transferred, granted, sold, or leased to any other
party, and the body corporate entitled to such rights at this time is the
MINORITY PARTNER solely.

VII.- That during the legal effect of this Agreement, the mining rights
derived from the titles to the PROPERTIES shall not be waived or relinquished;
and no applications for reduction, unification or grouping shall be filed
neither, unless the OPERATING PARTNER agrees to. In addition, the mining
rights to the PROPERTIES shall not be conveyed, engaged or burdened, either
totally or partially during the existence of this Agreement. The MINORTY
PARTNER is hereby fully aware that it must comply with the obligations that
the Mining Law imposes to any holder of a mining property, according to the
Article 27 paragraph II thereof.

VIII.- That hereby grants the OPERATING PARTNER, with the exclusive rights of
mining, extracting processing and marketing all profitable minerals (the
"Minerals") that exist within the PROPERTIES.

<PAGE> 3

It shall be understood by "Minerals" any and all minerals, either precious or
base, metallic or non-metallic, that can be found in or on the PROPERTIES,
accordingly with the applicable laws, regulations, dispositions,  decrees or
any other legal ordinance in force, they being feasible of exploration,
development, exploitation, extraction, processing, purchase and disposal,
including all concentrates and metals .

IX . -That along with all of the above granted rights for extracting, mining,
processing and marketing the Minerals, all rights to the land, water rights,
installations, and related facilities that could exist within the PROPERTIES
are also included.

Procurement of any kind of necessary permits or permissions -either from
governmental offices or third parties- to achieve the business terms of this
Agreement, shall be sole responsibility of the MINORITY PARTNER with
assistance from the MINORITY PARTNER.

B). The OPERATING PARTNER by means of its legal representative states as
follows:

I.- That the body corporate he is representing is a Mexican company duly
formed in Chihuahua City, State of Chihuahua, on August 9th, 1995, before Mr.
Jose R. Miller Hermosillo, Notary Public number 2, through  Public Deed number
9311, and duly registered in the Chihuahua City's Registry of Commerce under
electronic file number 21161*10, and that the company's taxpayer number is
CAM950810K77.

II.- That the company he is hereby representing shall contribute the initial
start-up capital for the project, advancing and financing the necessary
investment funds for acquiring, hauling, and installing any equipment and
machinery as well as a processing plant or mill with a capacity  for 75 tons
per day; funds to afford payments for fuel, payroll and wages, buying of a
vehicle for personnel transportation, work shops, offices, road rebuilding and
other needed expenses  to start the project's operation stage timely and for
this event  both parties shall give their best. The initial funds that shall
be invested in the aforesaid acquisitions and expenditures are US 450,000,00
(Four Hundred and Fifty Thousand Dollars NO/100) as a minimum initial capital
investment, that shall be reimbursed or paid back as set out herein. The
payment for exclusivity as mentioned in Clause 3  of this  Agreement is
included in the above initial capital investment.

III.- That purchase of additional equipment and increase of capacity of the
processing  plant, must be mutually agreed to, and shall be made according to
the provisions of this Agreement.

<PAGE> 4

IV. That during the legal effect of this Agreement, the mining titles to the
PROPERTIES shall be kept in good tax and legal standing, paying the surface
tax every six months according to the Mining Law and its Regulations, and
providing funds to update unpaid taxes as provided for in Clause 3 herein,
filing the mandatory assessment work reports and technical reports in the
Secretariat of Economy as well.

V.-  That the OPERATING PARTNER shall also have the right of first refusal on
entering into an agreement with the MINORITY PARTNER or amending this
Agreement  as to any other mining or mineral processing activity owned or
controlled by the latter and located within The PROPERTIES.

VI.-  That to successfully achieve the purposes of this Agreement, the legal
representative of OPERATING PARTNER states that the company has funds enough
and expertise to develop the PROPERTIES, thus, being able to carry out and/or
perform any and all activities, including the carrying-out of mining works and
road rebuilding for accessing the plant site; to bring in required
contractors, installation of facilities such as: canteens, dormitories,etc.,
bring in equipment, machinery, devices, tools, and materials; and exercise all
other rights conferred by any Mexican Law for the benefit of the OPERATING
PARTNER.

NOW, THEREFORE, time is of the essence, and considering that the PROPERTIES
require: (a) important investments as to equipment and machinery, (b) remaking
the plant site access road, and (c) performance of significant mining works,
the MINORITY PARTNER recognizes that  working together with the OPERATING
PARTNER will  improve the  efficiency of time required to perform the mining,
extracting, processing and marketing of the Materials. The OPERATING PARTNER
will lead the effort, and in general will coordinate the activities and
procurement of the appropriate first machinery and equipment and sufficient
start-up funds as set out herein, according to the following:

                                C L A U S E S
     ---------------

     1. Operation and Management of the Project.

A).- The MINORITY PARTNER hereby agrees that OPERATING PARTNER shall manage
the  project, having the latter the right to freely appoint managers,
supervisors or foremen depending  on the development itself of the project.
However, the MINORITY PARTNER shall have the undeniable right, at any time, to
perform audits -either directly or through an Accounting Firm- to  the

<PAGE> 5

accounting books and ledgers that must be kept by the OPERATING PARTNER
related to the project. The Accounting Firm fees shall be paid at the MINORITY
PARTNER's sole expense.  Both parties hereby agree to jointly conduct the
production/operation activities, even appointing an Operation Manager by
common consent, who should be responsible for the performance of the
production works.

B).- If an Operation Manager is appointed according to the above paragraph,
such Manager should be wholly responsible for the day to day operation and
conduction of the mining, extracting processing, and marketing of the Minerals
in compliance with the applicable environmental regulations and other related
laws and statutes.

C).- However, the OPERATING PARTNER is hereby authorized to seek for
specialized constructors or mining agents or companies to perfom certain works
or activities within the PROPERTIES, during the existence of the project,
whose fees or wages shall be paid by the OPERATING PARTNER and afterwards
redeemed as set our herein.

     2. Duration of this Agreement.

The term of this Agreement is for a period of seven (7) years, as of the Date
of Signing, obligatory for the MINORITY PARTNER, and voluntary for the
OPERATING PARTNER. However, this Agreement will be periodically extended as
long as the mining, extracting, processing and marketing of the Materials are
profitable and taking place.

     3. Grant of Exclusivity Rights.

A).- The OPERATING PARTNER shall contribute the amount of US 100,000.00 (One
Hundred Thousand Dollars NO/100) at the Date of Signing or according to the
schedule set out hereunder, to attain the exclusive rights for mining,
extracting, processing, and marketing the Minerals that exist within the
PROPERTIES.

B).- The above US 100,000.00 should be contributed by the OPERATING PARTNER
according to the following schedule:

1. US 25,000.00 that were already paid to the MINORITY PARTNER.
2. US 30,000.00 at the Date of Signing.
3. US 45,000.00 on or before August 5th, 2005.

<PAGE> 6

C).- The above funds shall be mainly used to pay off all of the pending
surface taxes owed by the MINORITY PARTNER as to the PROPERTIES, imposed by
Article 27 paragraph II of the Mining Law in force, and once said taxes are
paid off, the MINORITY PARTNER shall deliver the OPERATING PARTNER  copies of
the corresponding  payment receipts or payment tax forms.

     4. Ownership of the PROPERTIES.

Both parties hereby acknowledge that the MINORITY PARTNER is the sole owner of
the PROPERTIES and will remain as such until termination of this Agreement,
unless the MINORITY PARTNER decides to sell them to the OPERATING PARTNER that
shall have the first right of refusal to buy the PROPERTIES.   The MINORITY
PARTNER could sell the PROPERTIES to a  third party, only if the OPERATING
PARTNER grants its consent to.

     5. Allocation or Distribution of Profits.

A).- In return for its start-up investment and equipment and machinery,
technical expertise, and management role, the OPERATING PARTNER will be
entitled to Sixty percent (60%) of the net profits, and the MINORITY PARTNER
will be entitled to Forty percent (40%) of the net profits in return for
contributing the PROPERTIES to the project and other contributions set out
herein.

B).- It shall be understood as "Shareable Net Profits", any resultant amount
after deducting the below items from the total earned incomes of the project's
operation activities, either earned by sales of the Minerals or its
concentrates or similar mineral products or earned by interests or other
incomes or yields:

I.-  The mutually approved costs for acquisitions, installations, works,
equipment and any other activity or transaction as mentioned in this very same
letter "B)" paragraph II of this Agreement, that had been performed during the
first stage of the project and the operation of the processing plant had
started accordingly, including the contribution or payment  for exclusivity,
as provided for in Clause 3, Grant of Exclusivity Rights;

II.- The mutually approved costs and expenses incurred because of the
operation and mining of the project  itself such as: extraction and marketing
of the Minerals, concentrates and other similar mineral  products, including
any type of taxes, duties, royalties, charges, or deductions made as a result
of the sales of the Minerals.

<PAGE> 7

III.- The reasonable costs incurred in the performance of any technical work
or technical study, as well as payment of surface taxes, duties, expenditures
or fees to keep in good standing the PROPERTIES and save them free of liens or
burdens;

IV.- The monies enough to form a contingency fund, whose minimum balance shall
be freely  set up or agreed by the parties; however, such minimum balance
shall not be lower than ten (10) per cent of the incomes that had been earned
during the period of time shown in every payment receipt delivered by the
smelter or buyer.

Once the shareable net profits are calculated and duly paid between the
parties, each party shall be liable of paying its own income tax according to
the applicable fiscal laws.

C).- There will be a periodic disbursal of net profits every month, in an
amount consistent with the above percentage of ownership interests, or at any
other time with the approval of the other party. In either case, the total
amount of withdrawals shall not, at any time, jeopardize the carrying-out of
the production activities.

D).-  Both parties hereby agree that the mechanism for sharing out  the net
profits as provided for in letter "B)" paragraph I) of this Clause, shall be
applicable as long as credit balances are shown in the OPERATING PARTNER's
accounting books, and once the initial capital investment is fully  redeemed,
the corresponding deduction shall not be made to the shareable net profit.

E).-  If the OPERATING PARTNER decides to terminate its involvement, the
MINORITY PARTNER will have the first right of refusal to purchase the
OPERATING PARTNER's interest  and viceversa.

F).-  The OPERATING PARTNER shall have the right to increase the processing
plant capacity up to 175 tons per day, having the MINORITY PARTNER's consent
to such increase. The allocation and distribution of the net profits related
to the aforesaid increase, shall be made according to the following terms:

1. The OPERATING PARTNER shall make the above increase to the plant capacity
at its sole expense;

2.  The MINORITY PARTNER shall be paid according to its ownership interest as
set out in paragraph "A)" of  this clause (40%), as if the increase was not
made yet, until full reimbursement of the monies disbursed to increase the
plant capacity; and

<PAGE> 8

3. Once the OPERATING PARTNER has been reimbursed as stated above, the
MINORITY PARTNER shall start receiving its net profits according to the new
plant capacity (175 tons per day).

     6. Equipment and Machinery acquired during this Agreement.

A).- All equipment and machinery acquired by the OPERATING PARTNER at its sole
expense during the legal effect of this Agreement, shall be deemed as
exclusive property of the OPERATING PARTNER until termination thereof.
However, If the project turns out unprofitable, such equipment and machinery
shall become common property of the parties according to their corresponding
ownership interests as provided for in Clause 5 paragraph "A)" of this
Agreement, provided that the purchase cost of the aforesaid equipment and
machinery had been redeemed already at the time of the project becoming
unprofitable.

B).- If, during the legal effect of this Agreement, a proposal of purchase is
made to the parties  from a third party, and such potential buyer was
interested in acquiring the above equipment and machinery along with the
PROPERTIES, the buy-out price shall be shared or split fifty-fifty
(50%-50%) between the parties if they decide to accept the proposal.

     7. Possibility of assignment of rights.

The OPERATING PARTNER shall have the right to partially transfer or assign to
a third party its rights and/or obligations stated herein, provided the
MINORITY PARTNER gives its permission in written to the OPERATING PARTNER  to
do so and viceversa, and the assign or transferee fully oblige himself  to
assume the obligations set out in this Agreement for the OPERATING PARTNER
before the MINORITY PARTNER.

     8. Costs and fees.

The  OPERATING PARTNER shall pay all taxes, duties, notary's fees or
attorney's fees which will be a cost to this Joint Venture Agreement.

     9. Governing Law.

A).- The parties hereby recognizes that this Agreement is regulated by the
provisions of the Federal Commerce Code in first place, the Federal Civil Code
in second place  and the Civil Code of Chihuahua State in third place.

<PAGE> 9

B).- The parties hereby agree that the state and federal courts with competent
jurisdiction in the City of Chihuahua, State of Chihuahua, shall have the
authority to resolve any lawsuit or claim arising under this Agreement. The
parties hereby renounce and waive to the jurisdiction of any other court to
whose jurisdiction they might have a right to, because of their current or
future domiciles.

     10. Default of Obligations.

A).- The parties shall be entitled to issue the rescission of this Agreement
(the "Notice of Rescission") in the event of non-compliance with any of the
obligations entered into herein.  In the event of default of obligations, the
affected party shall deliver to the address of the defaulting party, as set
out hereunder, a notice of default of obligations (the "Notice of Default")
and it shall grant to the defaulting party thereon a term of  thirty (30)
calendar days, commencing on the date of receipt of the Notice of Default, to
comply with any and all of the defaulting obligations. The aforesaid notice
may be made by any type of delivering service or courier with acknowledgment
of receipt. The date that is shown in such acknowledgment of receipt shall be
deemed as the commencement of the above term of fifteen days.

B).- The affected party shall be entitled to issue the Notice of Rescission
without having recourse to the law- at the expiration of the term mentioned
hereinbefore, as the case may be, in the event that the defaulting party does
not comply with any and all of the outstanding obligations within the said
term; therefore, the legal effect of this Agreement shall completely cease as
of the day of acknowledgment of receipt of the Notice of Rescission.

C).-  Any notice given or required to be given between the parties as a result
of the fulfillment of this Agreement, shall be made to the following
domiciles:

     to the OPERATING PARTNER:
     At'n: Ramiro Trevino Ledesma and/or Lic.Ruben Perales R.
     Calle Ernesto Talavera numero 1215, Colonia Linss,
     C.P. 31020, Chihuahua, Chihuahua

     to the MINORITY PARTNER:
     At'n: Ing. Miguel Cervantes Soto
     Calle Mercurio numero 3901-16, Fracc. Rincon Colonial,
     C.P.31189, Chihuahua, Chihuahua

<PAGE> 10

The parties may freely change the above domiciles at any time, provided they
give each other a timely notice in writing within ten (10) calendar days as of
the day of such changing of domiciles.

     11. Force Majeur.

Fulfillment of the obligations and responsibilities set out in this Agreement
may temporarily be suspended due to acts of god or force majeur, such as:
strikes, wars, riots, revolutions, disturbances, earthquakes, fires, actions
from third parties, seizure of assets from lawful or  de facto officers, or by
any other similar cause out of the parties reach. the parties agree in
suspending this contract legal effects regarding the affected obligations
solely to be reestablished once the force majure ceases.  All time limits or
deadlines set out herein shall be extended accordingly.  In any event, the
parties oblige themselves to reasonably reduce the interruptions or trying to
solve the problems as soon as possible.

     12. Termination of this Agreement.

This Agreement may be terminated by the occurrence of any of the termination
causes set out in applicable Mexican mining and mercantile legislation.

     13. Removal of Equipment and Machinery.

Upon termination of this Agreement as a result of the occurrence of any of the
termination causes set out above, the OPERATING PARTNER shall be granted a
term of eight hundred and eighty (180) calendar days to remove from the
PROPERTIES any movable goods, including any equipment, machinery, tool  or
device, that were used during the performance of the mining, processing and
marketing of the Materials, unless the aforesaid effects are seized or
attached in any other lawful mean as a result of a lawsuit filed by the
MINORITY PARTNER itself because of an unpaid debt from the OPERATING PARTNER
to the first mentioned, or impossibility of removal as provided for in Clause
6, paragraph "A)" of this Agreement.

     14. Successors and assigns.

This Agreement is binding upon, and inures to the benefit of, the MINORITY
PARTNER and the OPERATING PARTNER and their respective successors and assigns.

<PAGE> 11

     15. Languages.

The parties hereby covenant and agree that this Agreement is executed and
delivered in both English and Spanish, and that in the event of any
discrepancy between the two versions, the Spanish version shall prevail.

     16. Annulment of previous agreements.

Both parties hereby acknolwedge that any existing and previous agreement
between them as  to the PROPERTIES, either verbal  or in written, shall be
superseded by this Agreement.

     17. Delivery of copies of the mining titles to the PROPERTIES.

The MINORITY PARTNER hereby delivers to the OPERATING PARTNER copies of the
mining titles or certificates to the PROPERTIES, for best legal efficacy of
this Agreement.

     THE PARTIES.

     The OPERATING PARTNER:

     /s/ Ramiro Trevizo Ledesma
     _______________________________________
     CORPORACION AMERMIN, S.A. DE C.V.
     Represented by: RAMIRO TREVIZO LEDESMA.

     The MINORITY PARTNER:

     /s/ Ing.Miguel Cervantes Soto
     _______________________________________
     MINAS DE TOPAGO, S.A. DE C.V.
     Represented by: ING.MIGUEL CERVANTES SOTO.

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