Document:

exhibit-10_5.htm

    AGREEMENT
TO ASSIGN

    CONTRACT
FOR THE OPTION TO PURCHASE MINING HOLDINGS

     

    Amendment
No. 1

    20th
November 2007

     

    This is
Amendment No. 1 to the Agreement to Assign dated for reference 25th
September 2007 between Minera
Farellón Limitada, a Chilean company with an office at Baldomero Lillo
3260, Vallenar, Huasco, III Region, Chile (“Farellón”), and Minera Polymet Limitada, a
Chilean company wholly owned by Red Lake Exploration, Inc., a Nevada corporation
with a registered office at 711 South Carson Street, Suite 4, Carson City,
Nevada 89701 (“Polymet”).

     

    Whereas
the parties have agreed to amend the payment terms described in the Agreement to
Assign, for valuable consideration, the receipt and sufficiency of which are
acknowledged, the parties agree that:

     

    
      	
              1.  

            	
              Paragraph
      2 of the Agreement to Assign is amended as
  follows:

            

    

     

    
      	
              2.  

            	
              Polymet
      will pay 250,000 usd to Farellón on the later of the date that the terms
      of this agreement have been incorporated into a Chilean agreement and
      recorded in the register of the Conservator of Mines at Freirina, Chile,
      and April 30, 2008; with the effective date of the assignment of the
      Purchase Agreement being the earlier of the date of the recording in the
      register at Freirina and April 30, 2008.  Farellón will give
      Polymet wire instructions and Polymet will wire the funds as
      instructed.

            

    

     

    2.           All
other terms of the Agreement to Assign remain effective.

     

    
      	
              3.  

            	
              This
      amendment agreement may be signed in counterparts and delivered to the
      parties by any means; and the counterparts together are deemed to be one
      original document.

            

    

     

    The
parties’ signatures below are evidence of their agreement as of 20th
November 2007.

     

    
      	
              Minera
      Farellón Limitada

               

               

              /s/ Kevin Robert
      Mitchell

              Kevin
      Robert Mitchell

            	
              Minera
      Polymet Limitada

               

               

              /s/ Kevin Robert
      Mitchell

              Kevin
      Robert MitchellUntitled Page

		

		

		

		Exhibit 10.1

			

		

		
			FGLW-XWG TRANSFER AGREEMENT

					

					

				

		

		
			THIS AGREEMENT MADE EFFECTIVE AS OF THE 30th DAY OF April, 2008 (the "Effective Date").

				

				BETWEEN:

				

			

		

		
			
				
					ASIAN DRAGON GROUP INC. , a Nevada publicly traded

						corporation with offices at #202 – 1028 Hamilton Street, Vancouver,

						British Columbia, V6B 2R9;

						(“Asian Dragon”)

				

			

		

		

		AND:

			

		

		
			
				ASIAN DRAGON SILVER INC., a British Columbia private company

					Nevada with offices at #202 – 1028 Hamilton Street, Vancouver, British

					Columbia, V6B 2R9;

					(“ADSI”)

			

		

		

		

		PREAMBLE:

					

				The two Properties referenced in this agreement (the “Transfer Agreement”) consist of the following:

			

			Luoning Xiayu Fanggelewan (FGLW) Silver-Lead Property

					

				The Luoning Xiayu Fanggelewan Property (“FGLW”) is located in the area of Xiayu, Henan Province, China and consists of an Exploration License on a 1.75 sq km property; and

			

			Xiaowagou (XWG) Silver-Lead Property

					

				The Xiaowagou Silver Lead Property ("XWG") is located in the area of Xiayu, Henan Province, China and consists of an Exploration License on a 2.13 sq km property.

			

			TERMS:

					

				WHEREAS Asian Dragon is a Nevada corporation whose securities trade on the NASDAQ OTCBB as well as on the Frankfurt Exchange, and whose business is the acquisition and exploitation of  precious and base metals projects and properties of merit;

			

			AND WHEREAS ADSI is a private British Columbia company established to acquire and exploit precious and base metals projects and properties of merit;

			

			

			

			

			

		

		
			1

		

		

		

		

		

		

		

		
			FGLW-XWG TRANSFER AGREEMENT

					

					

				

		

		
			AND WHEREAS Asian Dragon had entered into the Fuding (Revised) Agreement for the purchase of the following rights to certain exploration licenses (collectively the “FGLW-XWG Rights”) from World Fortune Enterprise Inc. (“World Fortune”):

			

		

		

					a 51% interest in the FGLW Exploration License for US$2,750,000; and

					

				
	a 51% interest in the XWG Exploration License for US$2,250,000.
			

		
		

		

		

		AND WHEREAS the FGLW-XWG Rights and all title to past payments made by Asian Dragon to World Fortune, as detailed in Schedule B, regarding the FGLW-XWG Rights are being sold herein to ADSI by Asian Dragon in exchange for ADSI assuming all outstanding payment obligations toward these license interests as detailed in Schedule B and issuance by ADSI to Asian Dragon of 20,500,000 fully paid, non-assessable common shares of ADSI per the terms of Schedule A;

			

			AND WHEREAS World Fortune has agreed in writing to the assignment by Asian Dragon to ADSI of Asian Dragon’s past payments and contractual rights regarding the FGLW-XWG under the Fuding (Revised) Agreement;

			

			NOW THEREFORE THIS FGLW-XWG AGREEMENT WITNESSES that in consideration of the covenants and agreements herein contained, the parties hereto do covenant and agree each with the other as follows:

			

			1.               Representations and Warranties of Asian Dragon

				

			1.1             In order to induce ADSI to enter into this FGLW-XWG Agreement and complete the transactions contemplated under this FGLW-XWG Agreement, Asian Dragon represents and warrants to ADSI that:

			

		

			                  	(a)       	Asian Dragon warrants that World Fortune is, and will remain until full payment is made to World Fortune and formal assignment has been made to ADSI, the registered and beneficial owner of the FGLW-XWG Rights pursuant to the Fuding (Revised) Agreement between World Fortune and Asian Dragon, or such time as ADSI and World Fortune conclude separate arrangements, and that such FGLW-XWG Rights are free and clear of all transfer, assignment or other restric­tions, liens, charges and encumbrances of any kind whatso­ever;
	  		
		(b)	Asian Dragon warrants it has good and sufficient right and authority to enter into this FGLW-XWG Agreement and carry out its obligations hereunder;
	  		
		(c)	Asian Dragon warrants that World Fortune has, and will have at the time that all payments have been made by ADSI, good and sufficient right and authority to transfer its legal and beneficial title and ownership of the FGLW-XWG Rights to ADSI; 

		

		

		

		

		

		
			2

		

		

		

		

		
			FGLW-XWG TRANSFER AGREEMENT

					

					

				

		

		
				                  	(d)       	Asian Dragon warrants that World Fortune has acknowledged that full payment for the FGLW-XWG Rights will be deemed to have taken place once all payments required in Schedule A of this FGLW-XWG Agreement have been made to World Fortune by ADSI; and
	  		
		(e)	Asian Dragon warrants that all rights and terms of the Fuding (Revised) Agreement will be passed through to ADSI via this Transfer Agreement.

			

			1.2             The representations and warranties of Asian Dragon contained in this Transfer Agreement shall be true at the time of closing as though such representations and warranties were made at the time of closing.

			

			2.               Representations and Warranties of ADSI

					

				2.1             In order to induce Asian Dragon to enter into this Transfer Agreement and complete the transactions contemplated under this Transfer Agreement, ADSI represents and warrants to Asian Dragon that ADSI has good and sufficient right and authority to enter into this Transfer Agreement and has, and will have at the time that all payments have been made by ADSI, good and sufficient right and authority to carry out its obligations contemplated under this Transfer Agreement.

			

			2.2             The representations and warranties of ADSI contained in this Transfer Agreement shall be true at the time of closing as though such representations and warranties were made at the Time of Closing.

			

			3.                Payments

					

				3.1             ADSI acknowledges herein that it is responsible to make the payments noted in Schedules A and B which are outstanding or scheduled.

			

			4.                General

					

				4.1             Time and each of the terms and conditions of this Transfer Agreement shall be of the essence of this Transfer Agreement.

			

			4.2             The recitals to this Transfer Agreement constitute a part of this Transfer Agreement.

			

			4.3             This Transfer Agreement constitutes the entire Transfer Agreement between the parties hereto in respect of the matters referred to herein and there are no representations, warranties, covenants or agreements, expressed or implied, collateral hereto other than as provided for herein.

			

			4.4             No alteration, amendment, modification or interpre­tation of this Transfer Agreement or any provision of this Transfer Agreement shall be valid and binding upon the parties hereto unless such altera­tion, amendment, modification or interpretation is in written form executed by both of the parties hereto.

			

			

			

			

		

		
			3

		

		

		

		

		
			FGLW-XWG TRANSFER AGREEMENT

					

					

				

		

		
			4.5             Whenever the singular or masculine is used in this Transfer Agreement the same shall be deemed to include the plural or the feminine or the body corporate as the context may require.

				

				4.6             The parties hereto shall execute and deliver all such further documents and instruments and do all such acts and things as either party may, either before or after the Effective Date, reasonably require in order to carry out the full intent and meaning of this Transfer Agreement.

				

				4.7             Any notice, request, demand or other communication, or any delivery, to be given or made under this Transfer Agreement as the case may be, shall be in writing and shall be delivered by hand or by telecopier to the parties at their addresses set forth on the first page of this Transfer Agreement or to such other addresses as may be given in writing by the parties hereto in the manner provided for in this paragraph, and shall be deemed to have been delivered, if delivered by hand, on the date of delivery, or if delivered by telecopier, on the day that it is sent.

				

				4.8             This Transfer Agreement shall not be assigned by a party hereto without the written permission of the other party.

				

				4.9             This Transfer Agreement shall be subject to, governed by, and construed in accordance with the laws of the Province of British Columbia.

				

				4.10             This Transfer Agreement may be signed by the parties in as many counterparts as may be deemed necessary, each of which so signed shall be deemed to be an original, and all such counterparts together shall constitute one and the same instrument.

				

				

				

				

				

				

				

				

				

				

				

				

				

				

			

		

		
			4

		

		

		

		

		

		
			FGLW-XWG TRANSFER AGREEMENT

						

						

					

		

		
			IN WITNESS WHEREOF the parties hereto have hereunto set their hands and seals as of the Effective Date first above written.

				

			

		

			
					SIGNED, SEALED & DELIVERED

						

						by ASIAN DRAGON GROUP INC., in the presence of:

						

						/s/ Richard Tong 

								Name of Witness: Richard Tong  

						Address of Witness: 870 East 54th Avenue, Vancouver, BC, Canada V5X 1L7  

						Occupation of Witness: Consultant

						

					

					

					
					)

						)

						)

						)

						)    /s/ John Karlsson

								)    ASIAN DRAGON GROUP INC.

						)    per: John Karlsson, Director

						)

						)

						)

						)

				
	
					SIGNED, SEALED & DELIVERED

						

						by ASIAN DRAGON SILVER INC., in the presence of:

						

						/s/ Samuel Lupton

								Signature of Witness

						Name of Witness: Samuel Lupton 

						Address of Witness: c/o #202 – 1028 Hamilton Street, Vancouver, BC, Canada V6B 2R9 

						Occupation of Witness:  Lawyer

					

					
					)

						)

						)

						)

						)    /s/ John Karlsson

								)    ASIAN DRAGON SILVER INC.

						)    per: John Karlsson, Director

						)

						)

						)

						)

				

		

		

		

		

		

		

		

		

		

		

		

		

		

		

		

		
			5

		

		

		

		

		
			FGLW-XWG TRANSFER AGREEMENT

					

				

				- SCHEDULE A -

						

						

					

		

		
			Share Payment Commitment from ADSI to Asian Dragon:

					

					

				

		

		

		

		

		
				
						Payment

						
						Amount

							Required

						
						Deadline

					
	
						Fully paid non-assessable common shares of Asian Dragon Silver Inc.

						
						20,500,000

						
						June 30, 2008

					

			

			

			

			

			

			

			

			

			

			

			

			

			

			

			

			

			

			

			

			

			

			

			

			

			

			6

		

		

		

		

		

		

		
			FGLW-XWG TRANSFER AGREEMENT

						

						

					- SCHEDULE B -

						

						

					

		

		
			PART ONE – Completed and Currently Outstanding Monetary Payments Regarding FGLW:

					

				

		

		

		

		
				
						Payments

						
						Installments

								Required

						
						Payments

								Made

						
						Balance Due

						
						Deadline

					
	
						Initial payment

						
						$ 1,109,000

						
						$ 1,109,000

						
						$ Nil

						
						August 29, 2007

					
	
						Installment one

						
						   Nil

						
						-

						
						Nil

						
						October 1, 2007

					
	
						Installment two

						
						   541,000

						
						541,000

						
						Nil

						
						March 1, 2008

					
	
						Installment three

						
						   550,000

						
						154,003

						
						395,997

						
						June 1, 2008

					
	
						Installment four

						
						   550,000

						
						-

						
						550,000

						
						October 1, 2008

					
	
						Total

						
						$ 2,750,000

						
						$1,804,003

						
						$ 945,997

						
						 

					

			

		

		
			PART TWO – Completed and Currently Outstanding Monetary Payments Regarding XWG:

					

				

		

		

		

		
				
						Payments

						
						Installments

								Required

						
						Payments

								Made

						
						Balance Due

						
						Deadline

					
	
						Initial payment

						
						$     71,000

						
						$    71,000

						
						$ Nil

						
						August 29, 2007

					
	
						Installment one

						
						   829,000

						
						677,543

						
						151,457

						
						October 1, 2007

					
	
						Installment two

						
						   450,000

						
						-

						
						450,000

						
						March 1, 2008

					
	
						Installment three

						
						   450,000

						
						-

						
						450,000

						
						June 1, 2008

					
	
						Installment four

						
						   450,000

						
						-

						
						450,000

						
						October 1, 2008

					
	
						Total

						
						$ 2,250,000

						
						$  748,543

						
						$1,501,457

						
						 

					

			

		

		
			PART THREE – Completed and Currently Outstanding Share Payments Regarding FGLW and XWG Share (Combined, as pro-rated based on Fuding (Revised) Agreement):

					

				

		

		

		

		
				
						Parties

						
						Installments

								Required

						
						Payments

								Made

						
						Balance Due

						
						Deadline

					
	
						World Fortune

						
						125,000

						
						125,000

						
						Nil

						
						August 29, 2007

					
	
						World Fortune nominees

						
						500,000

						
						500,000

						
						Nil

						
						August 29, 2007

					
	
						Total Shares

						
						625,000

						
						625,000

						
						Nil

						
						 

					

			

			

			

			

			

			7

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