Document:

September 27, 2012

 

 

 

AMENDED AND RESTATED SERVICE AGREEMENT

 

 

 

 

 

 

 

MORRIA BIOPHARMACEUTICALS PLC

 

and

 

Joseph V. Bondi, Ph.D.

 

 

 

    	 

    	 

    

DATE:

 

PARTIES:

 

(1)MORRIA
BIOPHARMACEUTICALS PLC (company number 5252842) whose registered office is at 53 Davies street, Mayfair, London W1K5JH (“Company”
or “Morria”); and (2)Joseph Bondi, 110 Glenwood Avenue, Collegeville, PA (“Consultant”).

 

		1.	Definitions and interpretation

 

The definitions and interpretative
provisions in Schedule 1 apply to this agreement.

 

		2.	Appointment

 

		2.1	The Company has engaged the services of the Consultant since July 1 2007.

 

		2.2	The Company will continue to engage the services of the Consultant subject to the terms and conditions
specified in this agreement.

 

		3.	Duration of the Services

 

		3.1	The Services commenced on July 1, 2007 and, subject to clause 12, will continue until terminated
by either party giving to the other not less than three months’ notice in writing.

 

		3.2	The Consultant represents and warrants that he is not bound by or subject to any court order agreement
arrangement or undertaking which in any way restricts or prohibits him from entering into this agreement or from performing the
Services under this agreement.

 

		4.	Scope of the Services

 

		4.1.1	The Consultant shall be responsible for pre-clinical and clinical development of Morria’s
products including but not limited to the chemistry, formulation and synthesis of Morria products. The relationship of the Consultant
to Morria is that of an independent contractor and all times Consultant will perform the Services as an independent contractor.

 

		4.1.2	devote to his duties the time, attention and skill as may reasonably be required for the satisfactory
performance of the Services.

 

		4.1.3	keep the Chief Executive Office, President, Chairman of Board of Morria; and Board of Directors
of Morria at all times promptly and fully informed, in writing if so requested, of his conduct of the Services for Morria as the
Chairman or Board may require.

 

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		4.2	The Consultant must not, without the prior consent of the Board:

 

		4.2.1	on behalf of the Company, incur any capital expenditure in excess of any sum authorised from time
to time by the Board;

 

		4.2.2	on behalf of the Company, enter into any commitment contract or arrangement with authorization
from the Chief Executive Office, Chairman of Board of Morria, or the Board of Directors of Morria and which is outside the normal
course of its business or of an unusual onerous or long term nature or outside the scope of his normal duties.

 

		5.	Resources

 

		5.1	The Consultant agrees to provide the Services for at least 70 hours per month.

 

		6.	Remuneration 

 

		6.1	The Company will pay to the Consultant a Fee of ten thousand ($10,000 USD) per month for the Services.
The Consultant’s Fees will accrue from day to day and be payable by equal monthly installments in arrears on the last day
of each calendar month by credit transfer to a bank or building society account nominated by the Consultant. Consultant shall be
responsible for paying all federal, state, local taxes or any such other taxes required by law; social security, and Medicare.
Company shall provide a 1099 form to Consultant.

 

		7.	Expenses

 

		7.1	The Company will reimburse the Consultant on a monthly basis for all expenses reasonably incurred
by him in the proper performance of the Services, subject to the Consultant providing such receipts or other evidence as the Company
may require. Notwithstanding the foregoing, Morria shall not reimburse any expense incurred by Consultant that is related to his
business overhead, including, but not limited to, office space, telephone use and/or service, computer equipment, office supplies
or any employees or agents whom Consultant may hire.

 

		7.2	If the Consultant is issued with a Company credit card it is issued on condition that he:

 

		7.2.1	takes good care of it and immediately reports any loss of it to the Board;

 

		7.2.2	uses the card only for the purposes of the business of the Company in accordance with any Company
policy; and

 

		7.2.3	returns the card immediately to the Company on request.

 

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		8.	Restrictions on other activities by the Consultant

 

		8.1	During the period in which Consultant is providing the Services, the Consultant must not directly
be involved in any activity which the Company considers may be, or become, competitive and/or harmful to the interest of the Company
or of any Group Company or which might adversely affect the performance of the Consultant’s Services.

 

		8.2	The Consultant must comply with:

 

		8.2.1	every rule of law and the rules and regulations of any Recognised Investment Exchange applicable
to the Company; and

 

		8.2.2	every regulation of the Company for the time being in force in relation to dealings in shares or
other securities of the Company or any Group Company.

 

		8.3	The Consultant must not, and will procure so far as he is able that his spouse infant children
and other connected persons, within the meaning of section 346 Companies Act 1985, will not, deal or become or cease to be interested,
within the meaning set out in part 1 schedule XIII Companies Act 1985, in any securities of the Company, except in accordance with
the then current code for securities transactions by directors of the Company.

 

		8.4	Subject to any regulations issued by the Company, the Consultant may not receive or obtain directly
or indirectly any discount rebate or commission (Benefit) in respect of any sale or purchase of goods effected or other
business transacted, whether or not by him by or on behalf of the Company or any Group Company. If the Consultant, or any firm
or company in which he is interested, obtains a Benefit he must account to the Company or the relevant Group Company for it or
a due proportion of the Benefit received by such company or firm having regard to the extent of the Consultant’s interest
in it.

 

		9.	Confidential Information and Company documents

 

		9.1	The Consultant must not either during the period in which he is providing the Services, except
in the proper performance of the Services, and subject to the Company’s disclosure of information policy or at any time after
the termination of the Services:

 

		9.1.1	disclose, divulge, transfer, or communicate to any person any Confidential Information;

 

		9.1.2	use any Confidential Information for his own purposes or for any purposes other than those of the
Company or any Group Company; or

 

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		9.1.3	permit or cause any unauthorised disclosure of any Confidential information through any failure
on his part to exercise due care and diligence.

 

		9.2	The restrictions in clause 9.1 do not apply to:

 

		9.2.1	any disclosure required for the proper performance of the Consultant’s Services or as authorised
by the Board;

 

		9.2.2	any disclosure made to any person authorised by the Company to possess the relevant information;

 

		9.2.3	any information or knowledge that was known to the Consultant prior to the commencement date of
this agreement; or

 

		9.2.4	any information which becomes available to the public generally otherwise than through the default
of the Consultant.

 

		9.3	All notes memoranda records lists of customers and suppliers and employees correspondence documents
computer and other discs and tapes data listings codes designs and drawings and other documents and material whatsoever in the
Consultant’s possession or control and whether or not made or created by the Consultant, relating to the business of the
Company or any Group Company and any copies of them:

 

		9.3.1	are and remain the property of the Company or the relevant Group Company;

 

		9.3.2	will be handed over by the Consultant to the Company or to the relevant Group Company on demand
and, in any event, immediately on the termination of the Services and the Consultant will certify that all such property has been
so handed over; and

 

		9.3.3	will on demand and, in any event, immediately on the termination of the Services be permanently
deleted from any PC system in his possession or under his control.

 

		10.	Data protection

 

The Consultant confirms that
the Company may collect hold process and transfer, both electronically and manually, his Personal Data for the purposes of administering
this agreement, the Company’s administration, management of its staff and its business and to comply with applicable procedures
laws and regulations for the transfer storage and processing by the Company of such the Personal Data outside the European Economic
Area, in particular to and in the United States of America and any other country in which the Company has offices.

 

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		11.	Inventions and other intellectual property

 

		11.1	The parties foresee that the Consultant may make inventions or create other intellectual property
in the course of the Services. In this respect the Consultant has a special responsibility to further the interests of the Company
and the Group.

 

		11.2	In relation to each and every conception, improvement, invention or discovery which relates directly
or indirectly to the business of the Company (Company Invention) which the Consultant, jointly or alone, makes at any time
during the Services, he will:

 

		11.2.1	promptly disclose full details, including any documents, drawings models, or other embodiments
of the Company Invention to enable the Company to determine whether or not, applying the provisions of section 39 of the Patents
Act 1977, it is the property of the Company or a Group Company; and

 

		11.2.2	assign and will assign any and all Company Invention to the Company and, at its request and expense,
do ail things necessary or desirable to enable the Company or its nominee to exploit the Company Invention for commercial purposes
and to secure patent or other appropriate forms of protection for it anywhere in the world. Decisions as to the patenting and exploitation
of any Company Invention are at the sole discretion of the Company.

 

		11.2.3	To the extent that he owns or will own the rights in relation to any Company Invention, assigns
to the Company by way of future assignments all such rights.

 

		11.3	In relation to each and every copyright work including, but not limited to any source code and
object code for software, domain name, database or design which relates either directly or indirectly to the business of the Company
or any Group Company (Copyright Work) which the Consultant, jointly or alone, originates, conceives, writes or makes at
any time during the period of his Services the Consultant:

 

		11.3.1	will promptly disclose such Copyright Work, including any documents, drawings, models or other
embodiments of the Copyright Work, to the Company. Any Copyright Work made wholly outside the Consultant’s normal working
hours which is wholly unconnected with the Services or, directly or indirectly, the business of the Company or any Group Company
is excluded from the ambit of clause 11.3;

 

		11.3.2	to the extent that he owns or will own the rights in any Copyright Work, assigns to the Company
by way of future assignment all copyright, database rights, design rights and other proprietary rights, if any, throughout the
world in the Copyright Work including the right to register, at the Company’s absolute discretion, any such rights in the
Copyright Work; and

 

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		11.3.3	irrevocably and unconditionally waives in favour of the Company any and all moral rights conferred
on him by chapter IV of part I of the Copyright Designs and Patents Act 1988 in relation to any such Copyright Work.

 

		11.4	The Consultant, at the request and expense of the Company, will do all things necessary or desirable
to substantiate the rights of the Company to each and every Company Invention or Copyright Work and permit the Company, which the
Consultant irrevocably appoints as his attorney for this purpose, to execute documents, to use his name and to do all things which
may be necessary or desirable for the Company to obtain for itself or its nominee the full benefit of each and every Company Invention
or Copyright Work. A certificate in writing signed by any director or the secretary of the Company that any instrument or act falls
within the authority conferred by clause 11.4 will be conclusive evidence to that effect so far as any third party is concerned.

 

		11.5	Nothing in clause 11 will be construed as restricting the rights of the Consultant or the Company
under sections 39 to 43 Patents Act 1977.

 

		12.	Termination

 

		12.1	The Services may be terminated for any reason by the Company, Chief Executive Office, or Chairman
of Board of Morria by not less than three months’ notice in writing given at any time.

 

		12.2	The Services may be terminated immediately by the Company if the Consultant:

 

		12.2.1	commits any serious breach or repeats or continues, after warning, any material breach of his obligations;

 

		12.2.2	is guilty of conduct tending to bring himself or the Company or any Group Company into disrepute;

 

		12.2.3	is indicted or convicted of an offence under any statutory enactment or regulation relating to
insider dealing or is in breach of the code on directors’ dealings in listed securities adopted from time to time by the
Company or any Group Company;

 

		12.2.4	commits any breach of clauses 8, 9 or 11;

 

		12.2.5	is indicted or convicted of any criminal offence, other than a minor motoring offence that does
not prevent the Consultant performing his duties;

 

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		12.2.6	fails to perform or is, in the reasonable opinion of the Board, incapable of properly performing
the Services under this agreement, if the Consultant has been given due warning by the Company of his failure to perform and has
failed within the specified period to meet the required standard; or

 

		12.2.7	without reasonable cause wilfully neglects or refuses to discharge his Services.

 

		12.3	The Company reserves the right, at its absolute discretion, to terminate the Services immediately
or with less notice than required by clause 3.1 and to give the Consultant pay in lieu of any such notice of termination.

 

		12.4	On the termination of the Services, however arising, or on either party serving notice of termination
the Consultant will immediately deliver to the Company any document, computers, materials, motor car and all car keys, credit cards
and other property of or relating to the business of the Company which may be in his possession or under his control.

 

		12.5	If the Consultant fails to comply with his obligations under clause 14.8 the Company is irrevocably
authorised to appoint some person in his name and on his behalf to sign any documents and do any things necessary to give effect
to those provisions.

 

		12.6	If the Consultant is offered but unreasonably refuses to agree to the transfer of this agreement
by way of novation to a company which has acquired or agreed to acquire the whole or substantially the whole of the undertaking
and assets or the equity share capital of the Company, the Consultant will have no claim against the Company in respect of the
termination of the Services by reason of:

 

		12.6.1	the subsequent voluntary winding-up of the Company; or

 

		12.6.2	the disclaimer of this agreement by the Company within one month after such acquisition.

 

		12.7	Any delay by the Company in exercising its rights of termination under clause 12 will not constitute
a waiver of them.

 

		13.	Post termination covenants

 

		13.1	The Consultant undertakes with the Company that he will not during the Restricted Period without
the prior written consent of the Company, such consent not to be unreasonably withheld, whether by himself, through his employees
or agents or otherwise and whether on his own behalf or on behalf of any other person, directly or indirectly:

 

		13.1.1	in competition with the Company, within the Restricted Area, be employed, engaged or otherwise
interested in the business of researching into developing manufacturing distributing selling supplying or otherwise dealing with
Restricted Goods or Restricted Services. This prohibition does not apply to the holding, directly or through nominees, of investments
dealt on any Recognised Investment Exchange if the holding does not exceed three percent, of the issued shares or other securities
of any class of any one company;

 

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		13.1.2	in competition with the Company, solicit business from or canvass any Customer or Prospective Customer
if such solicitation or canvassing is in respect of Restricted Goods or Restricted Services;

 

		13.1.3	in competition with the Company, accept orders for Restricted Goods or Restricted Services from
any Customer or Prospective Customer;

 

		13.1.4	discourage any Supplier or Prospective Supplier from conducting or continuing to conduct business
with the Company on the best terms available to the Company;

 

		13.1.5	solicit or induce or endeavour to solicit or induce any person who on the date of termination of
the Services was a director or manager of the Company with whom the Consultant had dealings during the Services to cease working
for or providing services to the Company, whether or not any such person would as a consequence commit a breach of contract; or

 

		13.1.6	employ or otherwise engage in the business of researching into developing manufacturing distributing
selling supplying or otherwise dealing with Restricted Goods or Restricted Services any person who was during the 12 months preceding
the date of termination of the Services employed or otherwise engaged by the Company and who by reason of such employment or engagement
is in possession of any Confidential Information or who has acquired influence over Customers and Prospective Customers. References
to the Consultant in the definitions of Customer and Prospective Customer are to be replaced by references to the relevant employee
for the purposes of the interpretation of clause 13.1.6.

 

		13.2	The Consultant must not induce procure or assist any other person firm corporation or organisation
to do anything which if done by the Consultant would be a breach of any of the provisions of clause 13.1.

 

		13.3	In clause 13.1 references to acting directly or indirectly include, without prejudice to the generality
of that expression, references to acting alone jointly with on behalf of by means of or by the agency of any other persons.

 

		13.4	The obligations undertaken by the Consultant pursuant to clause 13, constitute a separate and distinct
covenant with respect to the Company and the invalidity or unenforceability of any such covenant will not affect the validity or
enforceability of the covenants in favour of the Company.

 

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		13.5	The Consultant undertakes with the Company that he will not at any time after the termination of
the Services in the course of carrying on any trade or business, claim represent or otherwise indicate any present association
with the Company or for the purpose of carrying on or retaining any business or custom, claim represent or otherwise indicate any
past association with the Company to its detriment.

 

		13.6	While the restrictions in clause 13, on which the Consultant has had the opportunity to take independent
advice, are considered by the parties to be reasonable in all the circumstances, if any such restrictions, by themselves, or taken
together, are adjudged to go beyond what is reasonable in all the circumstances for the protection of the legitimate interests
of the Company but would be adjudged reasonable if part or parts of the wording were deleted, the relevant restriction or restrictions
will apply with such deletions as may be necessary to make it or them valid and effective.

 

		14.	Notices

 

		14.1	Any notice or other document to be given under this agreement must be in writing and either delivered
personally to the Consultant or to the secretary of the Company, or sent by first class post or other fast postal service or by
facsimile transmission to the Company at its registered office for the time being or to the Consultant at his last known place
of residence.

 

		14.2	Any such notice will unless the contrary is proved, be deemed served when in the ordinary course
of the means of transmission it would first be received by the addressee in normal business hours. In proving such service it will
be sufficient to prove that the notice was addressed properly and posted or that the facsimile transmission was despatched.

 

		15.	Former service agreements

 

		15.1	This agreement is in substitution for any previous agreements or arrangements, whether written
oral or implied, relating to the engagement of the Consultant, which are deemed to have been terminated by mutual consent.

 

		16.	Choice of law, submission to jurisdiction and address for service

 

		16.1	This agreement will be governed by and interpreted in accordance with English law.

 

		16.2	The parties submit to the jurisdiction of the English courts but this agreement may be enforced
by the Company in any court of competent jurisdiction.

 

		17.	General

 

		17.1	Except where expressly stated nothing in this agreement will create any enforceable rights for
any third party.

 

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		17.2	The Consultant has taken his own independent legal advice on this agreement

 

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Schedule 1

Definitions and interpretations

(Clause 1)

 

		1.	The provisions of Schedule 1 apply to the interpretation of this agreement including the schedules.

 

2.The following words and expressions
have the following meanings:

 

	Benefit	as defined in clause 8.4
	Board	the board of directors for the time being of the Company and including any committee of the board of directors duly appointed by it.
	Company Goods	any products, data, compositions, materials, information, results, equipment or machinery developed, manufactured, distributed or sold by the Company with which the duties of the Consultant were concerned or for which he was responsible.
	Company Invention	as defined in clause 11.2.
	Company Services	any services including but not limited to technical and product support technical advice and customer services supplied by the Company with which the duties of the Consultant were concerned or for which he was responsible during the two years immediately preceding the date of termination of the Services.
	Confidential Information	any information, data, results, relating to the business, prospective business, technical processes, computer software, intellectual property rights or finances of the Company including, but not limited to, data, information comprising or containing details of suppliers and their terms of business, details of customers and their requirements, prices charged to and terms of business applicable to customers, marketing plans and sales forecasts, financial information results and forecasts, unless included in published audited accounts, any proposals relating to the acquisition or disposal of a company or business or any part of it or to any proposed expansion or contraction of activities, details of employees and officers and of the remuneration and other benefits paid to them, research activities, inventions, secret processes, designs, formulae and product lines, which comes into the Consultant’s possession by virtue of the Services, and which the Company regards, or could reasonably be expected to regard, as confidential whether or not such information is reduced to a tangible form or marked in writing as “confidential”, and any and all information which has been or may be derived or obtained from any such information.

 

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	Copyright Work	as defined in clause 11.3.
	Customer	
        any person to which the Company maintained
        a business relationship with, or distributed sold or supplied Company Goods or Company Services during the two years immediately
        preceding the date of termination of the Services and with which, during such periodthe Consultant had personal dealings in
        the course of the Services;

         

         

         

	Fees	the Consultant’s Fees referred to in clause 6.1.
	Personal Data	information which is personal to the Consultant, including but not limited to demographic information (name and address etc.) information enabling the Company to make payments (salary bank account number deductions allowances etc.) information enabling access to benefits (details of family members required for insurance and pension purposes), information specifically regarding the Services, and information enabling the Company to fulfill legal requirements.
	Prospective Customer	
        any person with which the Company had negotiations
        or discussions regarding the possible business relationship, or distribution, sale or supply of Company Goods or Company Services
        during the 12 months immediately preceding the date of termination of the Services and with which during such period the Consultant
        had personal dealings in the course of the Services.

         

         

         

	Prospective Supplier	
        any person with which the Company had negotiations
        or discussions regarding the possible business relationship with distribution, sale or supply of goods or services to the Company
        during the 12 months immediately preceding the Termination Date and with which during such period the Consultant had personal dealings
        in the course of the Services.

         

         

         

	Recognised Investment Exchange	an investment exchange in relation to which there is in force a recognition order made by the Financial Services Authority under the Financial Services and Markets Act 2001.
	Restricted Area	England, Scotland, Wales, Israel and the United States of America.
	Restricted Goods	Company Goods or goods of a similar kind.

 

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	Restricted Period	the period of 6 months immediately following the date of termination of the Services.
	Restricted Services	Company Services or services of a similar kind relating to anti-inflammatory egnts or compounds or methods.
	Services	the Consultant’s engagement by the Company under this agreement.
	Supplier	
        any person which has supplied materials,
        goods or services to the Company during the two years immediately preceding the date of termination of the Services and with which,
        during such period the Consultant had personal dealings in the course of the Services.

         

         

         

3.References to clauses and schedules
are unless otherwise stated to clauses of and schedules to this agreement.

 

4.The headings to the clauses are for
convenience only and will not affect the construction or interpretation of this agreement.

 

5.References to persons include bodies
corporate unincorporated associations and partnerships.

 

6.References to writing include e-mail
word processing typewriting printing lithography photography facsimile messages and other modes of reproducing words in a legible
and non transitory form.

 

7.Words and expressions defined in
or for the purpose of the Companies Act 1985 have the same meaning unless the context otherwise requires.

 

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Signed as a deed but not delivered until
the date

inserted on the front page of this document

by Morria Biopharmaceuticals Plc acting
by

two directors or one director and

the secretary:

 

Director

 

/s/ Mark S. Cohen

 

Director/Secretary

 

/s/ Yuval Cohen

 

 

 

Signed as a deed

but not delivered until the date

inserted on the front of this document
by

 

Joe Bondi

 

/s/ Joseph V. Bondi

 

in the presence of:

 

Witness’ signature: /s/ Rose M.
Bondi

 

Witness’ name: Rose M. Bondi

 

Address: 110 Glenwood Avenue

 

 Collegeville, PA 19426

 

 

 

Occupation: Homemaker

 

 

    	14Exhibit 10.1

 

Date:[], 2012

  

	
        Aurora Gold Corporation

 

        as “Company”

         

        Alltech Capital Limited

 

        as “Investor”

         

Subscription Agreement

 

For the subscription of 135,000,000 shares
of Company’s common stock

  

Contents

 

	No.	Heading	Page
	 	 	 
	1.	Definitions and Interpretation	2
	 	 	 
	2.	Conditions	5
	 	 	 
	3.	Subscription	6
	 	 	 
	4.	Company Warranties	7
	 	 	 
	5.	Investor Warranties	7
	 	 	 
	6.	Termination	10
	 	 	 
	7.	Continuing Obligations	10
	 	 	 
	8.	Board Representation	11
	 	 	 
	9.	Registration Rights	11
	 	 	 
	10.	Notices	14
	 	 	 
	11.	Withholding and grossing-up	14
	 	 	 
	12.	Time of essence	15
	 	 	 
	13.	Amendments	15
	 	 	 
	14.	Entire Agreement	15
	 	 	 
	15.	Waiver	15
	 	 	 
	16.	Successors	15
	 	 	 
	17.	Assignment	15
	 	 	 
	18.	The Contracts (Rights of Third Parties) Act 1999	15
	 	 	 
	19.	Fees	15
	 	 	 
	20.	Further Assurance	15
	 	 	 
	21.	Counterparts	15
	 	 	 
	22.	Governing Law and Jurisdiction	15
	 	 	 
	Schedule 1		17
	 	 	 
	The Warranties		17
	 	 	 
	Schedule 2 	 	24
	 	 	 
	Limitations on liability 	 	24

 

    	 

    	 

    
  

THIS SUBSCRIPTION AGREEMENT is made the [] day of []
2012

 

BETWEEN:

 

(1)     AURORA GOLD CORPORATION, a company incorporated
under the laws of the State of Delaware, whose principal place of business is at C/- Coresco AG, Level 3, Gotthardstrasse 20, 6304
Zug, Switzerland (the “Company”); and

 

(2)     ALLTECH CAPITAL LIMITED, a company incorporated
under the laws of Gibraltar whose registered office is at 59/63 Line Wall Road, PO Box 199, Gibraltar (the “Investor”).

WHEREAS:

The Parties wish to enter
into this Agreement so as to provide for the subscription of the Subscription Shares (as defined below) by the Investor upon the
terms and conditions contained in this Agreement.

IT IS AGREED as follows:

		1.	Definitions and Interpretation

		1.1	Definitions

Except where the context otherwise
requires, in this Agreement the following expressions shall have the following meanings:

“Accounts”
means, as the context warrants, the Annual Reports on Form 10-K and/or the Quarterly Reports on Form 10-Q filed by the Company
with the SEC, including all financial statements and notes thereto filed by the Company with the SEC since December 31, 2010;

“Accounts Date”
means December 31, 2011;

“Act” means
the Companies Act 2006;

"Affiliate"
means (A) any person directly or indirectly owning, controlling, or holding with power to vote, 5 percent or more of the outstanding
voting securities of such other person; (B) any person 5 percent or more of whose outstanding voting securities are directly or
indirectly owned, controlled, or held with power to vote, by such other person; (C) any person directly or indirectly controlling,
controlled by, or under common control with, such other person; (D) any officer, director, partner, copartner, or employee of such
other person; (E) if such other person is an investment company, any investment adviser thereof or any member of an advisory board
thereof; and (F) if such other person is an unincorporated investment company not having a board of directors, the depositor thereof;

“Agreement”
means this Subscription Agreement between the Company and Investor, along with any amendment thereto;

“Annual Accounts”
means the audited consolidated financial statements, and all notes thereto, of the Group for the year ended on the Accounts Date,
as filed with the SEC;

“Applicable Securities
Laws” means the German Securities Laws and the US Securities Laws, and such other securities laws, rules and regulations
to which the Company and/or the Transactions may be subject;

“Board of Directors”
means the Board of Directors of the Company;

“Business Day”
means any day other than Saturday or Sunday on which banks in London, Moscow and New York, New York are generally open for business;

“Closing”
has the meaning ascribed to it in Clause 3.2;

"Closing Date"
means the date on which Closing occurs;

“Conditions”
means the conditions set out in Clause 2;

“Directors”
means members of the Board of Directors of the Company;

“Dispose of”
or “Disposal” means directly or indirectly mortgaging, pledging, charging, assigning, selling, transferring,
subscribing or otherwise disposing, including agreeing (conditionally or unconditionally) to do the same;

“DNPM” means
Departmento Nacional de Producao Mineral.

“Encumbrance”
means any encumbrance or security interest of any kind whatsoever, including a mortgage, charge, pledge, lien, hypothecation, restriction,
right to acquire, right of pre-emption, option, conversion right, third party right or interest, right of set-off or counterclaim,
trust arrangement or any other type of preferential agreement (such as a retention of title arrangement) having similar effect;

“Existing Shares”
means the Shares which are now issued and outstanding, or which will be issued and outstanding immediately prior to Closing;

“Exempt Issuances”
means the issuance of equity securities in connection with:

 

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		(a)	bona fide compensation arrangements with the Company's directors, officers, employees, consultants
and service providers;

		(b)	contractual arrangements in force at the time of Closing;

		(c)	the conversion or exchange of equity securities of the Company that are outstanding as at the time
of Closing; and/or

		(d)	an issue for non-cash consideration (other than an issue of equity securities in exchange for the
shares of a vehicle the assets of which comprise substantially cash (“Cash Box Issues”) unless the Cash Box
Issues is undertaken solely to fund a bona fide acquisition of a company or business and related expenses).

For the purpose
of this definition, the term "equity securities" shall have the meaning attributed to such term by section 560
of the Act and shall include options or other securities convertible into ordinary shares or any other securities of the Company
which carry voting rights exercisable in all circumstances or under circumstances that have occurred and are continuing, or which
carry a residual right to participate in the earnings of the Company and in its assets upon liquidation or winding up;

“Fairly Disclosed”
means fairly disclosed in writing by the Company to the Investor prior to the date of this Agreement in sufficient detail to enable
the Investor to identify the nature and scope of the matter disclosed;

“German Securities
Laws” means, collectively, all applicable securities laws of Germany and each of the Länder and other political
sub-divisions thereof and the respective rules and regulations under such laws together with applicable published instruments,
orders and published policy statements of the securities regulatory authorities in each of the states and other political sub-divisions
thereof and the rules of the Relevant German Exchanges;

“Group” means
the Company and its subsidiaries and Affiliates, and the expression “Group Company” shall be construed accordingly;

“Intellectual Property
Rights” means all inventions (whether patentable or not), patents, utility models, designs (both registered and unregistered),
copyright, database rights, trade marks (both registered and unregistered), together with all applications for, rights to the grant
of and extensions of the same, rights to use and protect the confidentiality of confidential information and all other intellectual
property including all similar or analogous rights throughout the world, in each case for the full term of the relevant rights;

“Interim Accounts”
means the unaudited consolidated financial statements of the Group for the six months ended June 30, 2012 (including notes thereto);

“Law” means
the Delaware General Corporation Law;

“Long Stop Date”
means October 31, 2012, or such later date as the Parties may agree in writing;

“Material Adverse Effect”
when used in connection with a Group Company means any change, event, violation, circumstance or effect that is materially adverse
to the business, prospects, assets (including intangible assets), capitalisation, financial condition or results of operation of
such entity and its parent (if applicable) or subsidiaries taken as a whole, whether or not in the ordinary course of business
of such Group Company;

“OTCQ” means
the OTC Market Groups Inc. QB Tier of the USA;

“Party” or
“Parties” means, individually, each of the Company and Investor and, collectively, both the Company and Investor;

“Press Announcement”
means the press announcement in the agreed form relating, inter alia, to the Subscription, to be issued by the Company on or about
the date of this Agreement in accordance with Applicable Securities Laws;

“Publicly Available
Information” has the meaning ascribed to it in paragraph 2.2 of Schedule 1;

“Purchase Price”
means US$5,000,000 (FIVE MILLION US DOLLARS);

"Purchaser Directors"
has the meaning ascribed to it in Clause 9.1;

“Regulation S”
means Regulation S as promulgated by the SEC pursuant to the Securities Act;

“Relevant German Exchanges”
means the Berlin-Bremen Stock Exchange, the Dusseldorf Stock Exchange, the Frankfurt Stock Exchange and the Stuttgart Stock Exchange;

“Representative”
means any officer, partner, manager, employee, agent, consultant, adviser, accountant, financial adviser, legal counsel or other
representative of a person;

“SEC” means
the United States Securities and Exchange Commission;

“Securities Act”
means the Securities Act of 1933, as amended;

“Securities Exchange
Act” means the Securities and Exchange Act 1934, as amended;

“Share” means
a share of common stock, par value US$0.001 each, of the Company;

 

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“Subscription”
means the subscription by the Investor for the Subscription Shares at the Subscription Price on the terms and conditions of this
Agreement;

“Subscription Price”
means US$0.037 per Subscription Share;

“Subscription Shares”
means the 135,000,000 Shares the Investor is subscribing for pursuant to this Agreement;

“Tax” or
“Taxation” means:

		(a)	any advance corporation tax, aggregates levy, capital gains tax, climate change levy, corporation
tax, customs and excise duties, income tax (including PAYE), inheritance tax, insurance premium tax, landfill tax, national insurance
contributions, rates and council tax, stamp duty, stamp duty land tax, stamp duty reserve tax and VAT;

		(b)	all other taxes of any jurisdiction anywhere in the world having a similar nature or effect to
any of those taxes referred to in paragraph (a) or otherwise;

		(c)	all other levies, imposts, duties, charges or withholdings in the nature of taxes imposed by any
Tax Authority and any amount of tax which is the subject of or results in a charge, security or right to sell imposed by, or provided
by statute to, any Tax Authority over any of the assets of any Group Company;

		(d)	any payment which any Group Company may be or become bound to make as a result of any enactment
relating to any tax; and

		(e)	all interest, penalties, surcharges, fines and other
charges relating to any of the above or to a failure to make any return, comply with any reporting requirements or supply any
information in connection with any of the above and the cost of removing any charge or other encumbrance imposed by any Tax Authority;

“Tax
Authority” means any government, state or municipality or any local, state, federal or other fiscal, revenue, customs
or excise authority, body or official anywhere in the world having functions in relation to Tax;

“Transactions”
means the entry into and the performance of the obligations under this Agreement;

“U.S.”, “USA”
or “United States of America” means the United States of America and any political sub-division thereof;

“U.S. Person”
means a citizen or resident of the United States, a corporation, partnership or other entity created or organised in or under the
laws of the United States or any person falling within the definition of the term “United States Person” under Regulation
S;

“US Securities Laws”
means, collectively, all applicable securities laws of the United States of America and each of the states and other political
sub-divisions thereof and the respective rules and regulations under such laws together with applicable published instruments,
orders and published policy statements of the securities regulatory authorities in each of the states and other political sub-divisions
thereof and the rules of the OTCQ; and

“Warranties”
means the warranties given by the Company pursuant to this Agreement and which are set out in Schedule 1.

		1.2	Interpretation

In this Agreement, unless a
contrary intention appears:

		(a)	a Clause or Schedule is a reference to a clause of, or schedule to, this Agreement;

		(b)	a document "in the agreed form" is a reference to a document in the form approved
and, for the purposes of identification only, initialled by or on behalf of the Company and the Investor;

		(c)	a statutory provision includes a reference to that provision as modified, replaced, amended and/or
re-enacted from time to time (before or after the date of this Agreement) and any prior or subsequent subordinate legislation made
under it;

		(d)	"US$", "US dollars" or "cents" is a reference
to dollars and cents, the legal currency of the United States of America;

		(e)	"costs" includes a reference to costs, charges and expenses of every description;

		(f)	a "certified copy" is a reference to a document as certified by a Director as
a true and complete copy;

		(g)	a "person" includes a reference to an individual, partnership, unincorporated
association or body corporate wherever incorporated or situate and includes a reference to that person's legal personal representatives
and successors;

		(h)	a "company" shall be construed so as to include any company, corporation or other
body corporate wherever and however incorporated or established;

 

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		(i)	a "subsidiary", "holding company" and "body corporate"
has the respective meaning set out in sections 1159 and 1173 of the Act;

		(j)	a "subsidiary undertaking" or "parent undertaking" has the respective
meaning set out in section 1162 of the Act;

		(k)	the headings in this Agreement are for convenience only and do not affect its interpretation;

		(l)	words importing the singular include the plural and words importing any gender include every gender
and (in each case) vice versa;

		(m)	"including" and "include" shall be deemed to be followed by "without
limitation" where not so followed; and

		(n)	references to a time of day are (unless otherwise expressly provided to the contrary) to London
time.

		2.	Conditions

		2.1	The obligations of the Investor at the Closing are subject to the satisfaction of the following
Conditions, but compliance with any such Conditions (except the Conditions in Clauses 2.1(c), (d), (e), (f), (g) and (h) below)
may be waived by the Investor in writing:

		(a)	the Warranties shall be true and correct in all material respects at and as of the Closing with
the same effect as though such Warranties were made at and as of the Closing;

		(b)	the Company shall have performed and complied with all the covenants and agreements and satisfied
all the conditions required by this Agreement to be performed, complied with or satisfied by it at or prior to the Closing;

		(c)	the Board of Directors of the Company shall have passed resolutions:

		(i)	authorising the Transactions including the authorisation, allotment and issue of the Subscription
Shares to the Investor conditional only on the satisfaction of the condition in Clause 2.1(f) below; and

		(ii)	revoking the resolution passed on December 15, 2011, creating a bonus pool of US$1,000,000 for
management; such bonus pool being conditional on the share price of the Company having risen to US$0.50 by December 31, 2015;

		(d)	the issue and sale and delivery of the Subscription Shares being exempt from the requirements to
file a prospectus under Applicable Securities Laws;

		(e)	the Company being a “reporting issuer” as that term is defined in the Securities Act,
at Closing;

		(f)	the Company having obtained any necessary consents from the OTCQ for the Subscription and registration
of the Subscription Shares and any approvals or consents or formalities required by German Securities Laws or the rules of the
Relevant German Exchanges;

		(g)	all directors shall have agreed in writing with the Company that their remuneration from the Company
shall be reduced to US$6,000 per month for executive directors and US$3,000 per month for non-executive directors, with effect
from Closing; and

		(h)	the Transactions not requiring approval of the Company's shareholders or being in violation of
Applicable Securities Laws as of the Closing Date.

		2.2	The obligations of the Company at the Closing are subject to the satisfaction at or prior to the
Closing of the following Conditions, but compliance with any such Conditions (except the Conditions in Clauses 2.2(c) and (d) below)
may be waived by the Company in writing:

		(a)	all warranties and undertakings of the Investor set-out in Clause 5 shall be true and correct in
all material respects at and as of the Closing with the same effect as though such warranties and undertakings were made at and
as of the Closing;

		(b)	the Investor shall have performed and complied with all the covenants and agreements and satisfied
all the conditions required by this Agreement to be performed, complied with or satisfied by it at or prior to the Closing;

		(c)	the issue, sale and delivery of the Subscription Shares being exempt from the requirements to file
a prospectus under Applicable Securities Laws; and

		(d)	the Company having obtained any necessary consents from the OTCQ for the Subscription and registration
of the Subscription Shares and any approvals or consents or formalities required by German Securities Laws or the rules of the
Relevant German Exchanges.

		(e)	The Transactions not being in violation of Applicable Securities Laws as of the Closing Date.

		(f)	If, in the event that any of the Conditions is not fulfilled (or waived by the appropriate Party
in its absolute discretion), as the case may be, by the Long Stop Date, the respective obligations of the Parties in connection
with this Agreement shall, ipso facto, cease and determine and except in relation to any prior breach of any provision of this
Agreement, no Party shall have any claim against any other Party save that Clauses 1 and 9 to and including 21 shall remain in
full force and effect.

 

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		2.3	The Parties undertake to use their respective reasonable endeavours to ensure that the Conditions
are satisfied in accordance with this Agreement.

		3.	Subscription

		3.1	Subject to the Conditions, the Investor agrees to subscribe for the Subscription Shares at the
Subscription Price upon the terms of this Agreement.

		3.2	The closing of the issue of and subscription for the Subscription Shares under this Agreement (the
“Closing”) will, subject to Conditions being satisfied or otherwise waived, occur immediately following satisfaction
or waiver thereof.

		3.3	Immediately prior to the Closing the Investor shall deliver, or procure the delivery, to the Company
of a certified copy of resolutions of the Board of Directors of the Investor approving the execution, delivery and performance
of this Agreement and the transactions contemplated by this Agreement.

		3.4	Immediately prior to the Closing the Company shall deliver, or procure the delivery of, to the
Investor:

		(a)	a certified copy of resolutions of the Board of Directors approving the execution, delivery and
performance of this Agreement and the transactions contemplated by this Agreement and allotting and issuing the Subscription Shares
conditional only on registration with OTCQ (if required) and the obtaining of any approvals or consents or formalities required
by German Securities Laws or the rules of the Relevant German Exchanges; and

		(b)	a copy of any necessary approval letters from OTCQ and the Relevant German Exchanges.

		3.5	Upon satisfaction of all the relevant Conditions, other than any Condition in respect of registration
of the Subscription Shares with [OTCQ , if required,] and Relevant German Exchange approval occurring, and subject to this Agreement
not having been terminated pursuant to Clause 6, the Investor shall pay the Purchase Price to the Company, in United States dollars,
by telegraphic transfer to the following bank account:

	Correspondent Bank:	WACHOVIA BANK, N.A.
	 	11 Penn Plaza, 4th Floor
	 	New York, NY 10001

 

	Fed wire/ABA Number:	026005092
	Swift Address:	PNBPUS3NNYC

 

	Beneficiary Bank:	Bank of Montreal
	 	595 Burrard Street
	 	Vancouver, B.C., Canada V7X 1L7

 

	Swift Address:	BOFMCAM2
	Transit & Beneficiary Account No.:	00044653512

(SHOULD BE 11 DIGITS, NO SPACES
OR DASHES)

 

	Beneficiary Name:	AURORA GOLD CORPORATION
	Transit & Beneficiary Account No.:	00044653512

(SHOULD BE 11 DIGITS, NO SPACES
OR DASHES)

		3.6	At Closing the Company shall deliver, or procure the delivery, to the Investor of a certificate
representing the Subscription Shares, and shall register the Investor as owner of the Subscription Shares on the stock register
of the Company.

		3.7	The Company undertakes to the Investor that, upon payment of the Purchase Price, the Subscription
Shares will be validly issued, fully paid and non-assessable and will rank pari passu in all respects with the Existing Shares.

		3.8	The Company undertakes to the Investor to execute or cause to be executed all such documents, to
provide or cause to be provided all such information and to do or cause to be done everything required to be executed, provided
or done by it to comply with the requirements of the OTCQ and the Relevant German Exchanges for the purposes of, or in connection
with, Closing and the registration of the Subscription Shares.

		3.9	The Company agrees with the Investor to use all reasonable endeavours to procure that registration
with OTCQ and any Relevant German Exchange of the Subscription Shares occurs not later than 8.00 a.m. on the Long Stop Date.

 

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		4.	Company Warranties

		4.1	The Company warrants and covenants with the Investor, as at the date of this Agreement and as at
Closing and at all times during the period up to Closing, that the statements set out in Schedule 1 are true and accurate in all
material respects and not misleading in any material respect.

		4.2	Notwithstanding any opinion or judgement the Investor may have, the Company hereby undertakes to
the Investor to disclose to the Investor in writing, forthwith upon becoming aware of the same, a Material Adverse Effect or any
information which might indicate that the Warranties are not, or have ceased to be, true and accurate or are, or have become, misleading
or would not, or would have ceased to be, true and accurate or would be, or would have become, misleading if the same were repeated
immediately prior to Closing.

		4.3	The Company acknowledges that the Investor is entering into this Agreement in reliance upon each
of the Warranties. Each of the Warranties shall be construed as a separate and independent provision and none of the Warranties
shall be limited or restricted by reference to or inference from the terms of any other Warranty or provision of this Agreement.

		4.4	Where any Warranty is expressed to be qualified by reference to the awareness and/or knowledge
and/or information and/or belief of the Company or any other person, or words to similar effect, it shall (unless specifically
stated to the contrary) be deemed to include a statement to the effect that it has been made after making due and careful enquiry,
including due and careful enquiry of, and the Company shall be deemed to have the actual knowledge, information and belief of,
the Directors.

		4.5	Each of the Warranties set out or referred to in this Agreement shall remain in full force and
effect notwithstanding Closing. For the avoidance of doubt, this Clause shall be subject to the time limits and other limitations
expressly set out in Schedule 2 to this Agreement.

		4.6	The total aggregate amount of the liability of the Company in respect of the Warranties (excluding
all legal and other professional fees and expenses of the Investor) shall not in any event exceed the Purchase Price.

		4.7	The liability of the Company under the Warranties shall be qualified to the extent of any facts
or information Fairly Disclosed in the Accounts and the Publicly Available Information other than each of the Warranties in respect
of paragraphs 1 (Capacity and Authority), 2 (Prior Documents), 3 (Annual Accounts and Financial Position), 4 (Interim Accounts),
5 (Insolvency), 6 (Shares and Rights to Subscribe for Shares), 10 (Events of default), subparagraphs 12.1,12.2, 12.4, 12.5, 12.6
and 12.7 (Contracts), 14 (Applicable Securities Laws), 15 (Subsidiaries) and paragraph 17 (Specific Warranties) of Schedule 1 which
shall not be so qualified.

		4.8	If, at any time prior to Closing, the Investor receives notification pursuant to Clause 4.2 or
otherwise becomes aware that any of the Warranties is or has become untrue, inaccurate or misleading in any respect either when
given or if it were repeated at any time before Closing by reference to the facts or circumstances existing at the time of repetition
which, in the opinion of the Investor (acting reasonably), is material in the context of the Subscription, the Investor may terminate
its obligations under this Agreement and thereafter neither Party shall have any further obligation or liability hereunder to any
other Party save in respect of any antecedent breach.

		5.	Investor Warranties

The Investor warrants and covenants
with the Company, as at the date of this Agreement and as at Closing and at all times during the period up to Closing as follows:

		5.1	Authorization; Enforceability. The Investor has the requisite power and authority to enter
into and perform this Agreement and to purchase the Subscription Shares being sold to it hereunder. The execution, delivery and
performance of this Agreement by the Investor and the consummation by it of the transactions contemplated hereby and thereby have
been duly authorized by all necessary corporate action, and no further consent or authorization of the Investor or its Board of
Directors or stockholders, if applicable, is required.

		5.2	Corporate Organization. The Investor is a corporation (i) duly organized, validly existing
and in good standing under the laws of the jurisdiction of its organization, and (ii) authorized and qualified to purchase the
Subscription Shares and the person signing this Agreement on behalf of such entity has been duly authorized by Investor to do so.

 

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		5.3	No Conflicts. The execution, delivery and performance of this Agreement and the consummation
by the Investor of the transactions contemplated hereby and thereby or relating hereto or thereto do not and will not (i) result
in a violation of the Investor’s charter documents, bylaws or other organizational documents, if applicable, (ii) conflict
with nor constitute a default (or an event which with notice or lapse of time or both would become a default) under any agreement
to which the Investor is a party, nor (iii) result in a violation of any law, rule, or regulation, or any order, judgment or decree
of any court or governmental agency applicable to the Investor or its properties (except for such conflicts, defaults and violations
as would not, individually or in the aggregate, have a Material Adverse Effect on Investor). The Investor is not required to obtain
any consent, authorization or order of, or make any filing or registration with, any court or governmental agency in order for
it to execute, deliver or perform any of its obligations under this Agreement nor to purchase the shares in accordance with the
terms hereof, provided that for purposes of the representation made in this sentence, the Investor is assuming and relying upon
the accuracy of the relevant representations and agreements of the Company herein.

		5.4	Risk Acknowledgement. The Investor recognizes that the purchase of the Subscription Shares
involves a high degree of risk including, without limitation, the following: (a) the Company is an exploration stage company and
has accumulated significant losses since inception and is not likely to generate revenues in the foreseeable future; (b) none of
the Company’s properties have reserves of any kind, (c) purchase of the Subscription Shares is highly speculative and only
investors who can afford the loss of their entire investment should consider purchasing Subscription Shares; (d) the Investor may
not be able to liquidate its investment in the Subscription Shares; (e) transferability of the Shares is limited; and (f) the Company
has not paid a dividend on its capital stock since inception and does not anticipate paying any dividends in the foreseeable future.

		5.5	Communication of Offer. The offer to sell the Subscription Shares was directly communicated
to Investor by the Company. The Investor represents that no Subscription Shares were offered or sold to it by means of any form
of general solicitation or general advertising and that at no time was Investor presented with or solicited by any leaflet, newspaper
or magazine article, radio or television advertisement, or any other form of general advertising or solicited or invited to attend
a promotional meeting otherwise than in connection and concurrently with such communicated offer.

		5.6	Experience of the Investor. The Investor, its advisers (who are not compensated by or affiliated
with the Company, (directly or indirectly), if any, and designated Representatives, if any, have the knowledge and experience in
financial and business matters necessary to evaluate the merits and risks of its prospective investment in the Company, and have
carefully reviewed and understand the risks of, and other considerations relating to, the purchase of the Subscription Shares and
the Tax consequences of the investment, and have the ability to bear the economic risks, including the loss of the entire Purchase
Price, of the investment and protect the Investor’s interests in connection with the transaction contemplated hereby.

		5.7	No Governmental Review. The Investor acknowledges and understands that no United States
federal or state agency, including the SEC has passed on or made recommendations or endorsement of the Subscription Shares or the
suitability of the investment contemplated hereby; nor, have such authorities passed upon or endorsed the merits of the offering
of the Subscription Shares.

		5.8	Compliance with Securities Act. The Investor understands and agrees that none of the Subscription
Shares have been registered under the Securities Act or any applicable state securities laws, by reason of their issuance in a
transaction that does not require registration under the Securities Act (based in part on the accuracy of the representations and
warranties of the Investor contained herein), and that such shares must be held indefinitely unless a subsequent disposition is
registered under the Securities Act or any applicable state securities laws or is exempt from such registration.

		5.9	Purchase of Shares for the Investor’s Account. On the Closing Date, the Investor will
purchase the Subscription Shares for which it has subscribed as principal for its own account for investment only and not with
a view toward, or for resale in connection with, the public sale or any distribution thereof.

		5.10	Non-US Persons. The Investor represents and warrants that it is not a “U.S. Person”
as defined in Regulation S. The Investor further represents and warrants to the Company that:

		(a)	it is acquiring the shares in an offshore transaction pursuant to Regulation S and the Investor
was outside the United States when receiving and executing this Agreement;

		(b)	the Investor has not acquired the Subscription Shares as a result of, and will not itself engage
in, any “directed selling efforts” (as defined in Regulation S) in the United States in respect of the shares which
would include any activities undertaken for the purpose of, or that could reasonably be expected to have the effect of, conditioning
the market in the United States for the resale of the shares; provided, however, that the Investor may sell or otherwise dispose
of the shares pursuant to registration of the shares under the Securities Act and any applicable state and provincial securities
laws or under an exemption from such registration requirements and as otherwise provided herein;

 

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		(c)	the Investor understands and agrees that resale of the Shares must be made in accordance with this
Regulation S (Rule 901 through Rule 905 promulgated thereunder), the registration requirements of the Securities Act and/or the
Securities Exchange Act, or an exemption there from. Any “restricted securities,” as defined in Rule 144, that are
equity securities of a US domestic issuer will continue to be deemed to be restricted securities, notwithstanding that they were
acquired in a resale transaction made pursuant to Rule 901 or Rule 904.

		(d)	the Investor understands and agrees not to engage in any hedging transactions involving the Subscription
Shares prior to the end of the Distribution Compliance Period (as such term is defined under Regulation S) unless such transactions
are in compliance with the Securities Act; and

		(e)	the Investor hereby represents that it has satisfied itself as to the full observance of the laws
of its jurisdiction in connection with any invitation to subscribe for the Subscription Shares or any use of this Agreement, including:
(i) the legal requirements within its jurisdiction for the purchase of the Subscription Shares; and (ii) the income tax and other
Tax consequences, if any, that may be relevant to the purchase, holding, redemption, sale or transfer of the Subscription Shares.
The Investor’s execution of this Agreement and performance of its obligations hereunder are within the powers of the Investor,
comply with Investor’s constitutional documents.

		5.11	Acknowledgement of and Consent to Restrictive Legend. The certificates representing the
Subscription Shares shall bear the following or similar legend until the Subscription Shares are registered on the OTCQ:

“THESE
SECURITIES WERE ISSUED IN AN OFFSHORE TRANSACTION TO PERSONS WHO ARE NOT U.S. PERSONS (AS DEFINED IN REGULATION S) PURSUANT TO
REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). ACCORDINGLY, NONE OF
THE SECURITIES TO WHICH THIS CERTIFICATE RELATES HAVE BEEN REGISTERED UNDER THE SECURITIES ACT, OR ANY U.S. STATE SECURITIES LAWS,
AND, UNLESS SO REGISTERED, NONE MAY BE OFFERED OR SOLD IN THE UNITED STATES OR, DIRECTLY OR INDIRECTLY, TO U.S. PERSONS EXCEPT
PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT OR PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT AND IN EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS. IN ADDITION, HEDGING
TRANSACTIONS INVOLVING THE SECURITIES MAY NOT BE CONDUCTED UNLESS IN ACCORDANCE WITH THE SECURITIES ACT.”

		5.12	Address. The Investor represents that the address of the Investor furnished by the Investor
Clause 9 hereof is the Investor’s principal business address.

		5.13	Reliance. The Investor understands and acknowledges that (i) the Subscription Shares are
being offered and sold to the Investor without registration under the Securities Act in a private placement that is intended to
be exempt from the registration provisions of the Securities Act, and (ii) the availability of such exemption, depends in part
on, and the Company and its Representatives will rely upon, the accuracy and truthfulness of, the foregoing representations and
warranties and the Investor hereby consents to such reliance.

		5.14	Correctness of Representations. Investor represents that the representations and warranties
made herein by Investor are true and correct as of the date hereof and, unless Investor otherwise notifies the Company prior to
the Closing Date, shall be true and correct as of the Closing Date. The Investor hereby undertakes to the Company to disclose to
the Company in writing, forthwith upon becoming aware of the same, any information which might indicate that the Warranties of
the Investor are not, or have ceased to be, true and accurate or are, or have become, misleading or would not, or would have ceased
to be, true and accurate or would be, or would have become, misleading if the same were repeated immediately prior to Closing.
If, at any time prior to Closing, the Investor receives notification pursuant to this Clause 5.14 or otherwise becomes aware that
any of the Warranties of the Investor is or has become untrue, inaccurate or misleading in any respect either when given or if
it were repeated at any time before Closing by reference to the facts or circumstances existing at the time of repetition which,
in the opinion of the Company (acting reasonably), is material in the context of the Subscription, the Company may terminate its
obligations under this Agreement and thereafter neither Party shall have any further obligation or liability hereunder to the other
Party.

 

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		6.	Termination

		6.1	This Agreement and the transactions contemplated hereby may be terminated at any time prior to
the Closing:

		(a)	by mutual written consent of the Parties;

		(b)	by either Party if a Condition to that Party's performance hereunder pursuant to Clause 2 has not
been satisfied or waived prior to the Long Stop Date;

		(c)	by the Company if the Investor fails to pay the aggregate Subscription Price in respect of the
Subscription Shares to the Company in accordance with Clause 3.5;

		(d)	by the Investor pursuant to Clause 4.8;

		(e)	by the Company pursuant to Clause 5.14; or

		(f)	by the Investor if, in its reasonable opinion, a Material Adverse Effect has arisen or occurred.

		6.2	If the Agreement has been terminated in accordance with this Clause 6, then, subject to Clause
6.3 below, the respective obligations of the Parties shall cease and terminate and except in relation to any prior breach of any
provision in this Agreement no Party shall have any claim against the other Party save that Clauses 1 and 9 to and including 21
shall remain in full force and effect.

		6.3	If the Agreement has been terminated in accordance with this Clause 6, then the Company shall return
any of the Purchase Price it has received to the Investor together with interest (being the sum of (a) the base rate of the Bank
of England then in effect, plus (b) 4 per cent per annum, computed on a year of 360 days, from date of transfer to date of return).

		7.	Continuing Obligations

		7.1	The Company undertakes that prior to Closing any announcement, statement or communication which
the Company is required to make by the SEC, the OTCQ, any Relevant German Exchange or any other regulatory authority or under any
Applicable Securities Laws, or by any provision of this Agreement and which refers to the Investor and/or the Subscription Shares
and/or this Agreement shall not be released unless the Company shall have first consulted with the Investor regarding the contents
and manner of making thereof and shall have taken into account the Investor’s views on the necessity of making such announcement,
statement or communication and the contents thereof. The Investor undertakes to promptly provide the Company with its comments
and views, if any, in connection with any such proposed announcement, statement or communication, but in no event later than two
business day prior to the date required for such announcement, statement or communication. Nothing in this Clause 7.1 shall be
deemed to in any manner whatsoever restrict the Company’s ability to fulfil its filling obligations under any Applicable
Securities Laws and to effect such filings, on a timely basis, with the SEC, including, but not limited to Form 8-K announcing
the entry into this Agreement and its consummation or termination, as with the advice of counsel it may deem necessary.

		7.2	Upon filing a final research report with the DPNM, each Group Company holding a research permit
in Brazil in respect of any area will use all reasonable endeavours to:

		(a)	obtain a mining concession in respect of that area as soon as practicable and, in any event, within
twelve (12) months of the filing of such report; and

		(b)	acquire all necessary land ownership or usage rights in respect of such area as soon as practicable
and, in any event, within three (3) months of the receipt of such concession,

and, in each
case, shall comply with all requirements of the Brazilian mining code in respect thereof.

		7.3	Where any Group Company has made an application for a research permit, it will use all reasonable
endeavours to:

		(a)	obtain a mining concession in respect of that area as soon as practicable and, in any event, within
twelve (12) months of the making of such application; and

		(b)	obtain all land ownership and usage rights necessary for it to carry out its obligations under
such research permit and to carry out all activities (whether necessary or desirable) permitted under such permit as soon as practicable
and, in any event, within three (3) months from the grant of such permit.

		7.4	This Agreement shall remain in full force and effect after Closing and all other matters, arrangements
or transactions referred to in or contemplated by this Agreement in respect of all obligations, agreements, covenants and undertakings
contained in this Agreement which have not been done, observed or performed at or prior to Closing.

 

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		8.	Board Representation

		8.1	For such time as the Investor has an interest in the Company equal to or greater than 30% (thirty
per cent) of the total issued Shares from time to time (excluding any Exempt Issuances from the date of this Agreement), the Investor
shall be entitled to appoint two directors (the "Purchaser Directors") to the Board of Directors and to remove
from office any person so appointed and to appoint another person in his place. Upon the Investor ceasing to have an interest in
the Company equal to or greater than 30% (thirty per cent) of the total issued Shares from time to time (excluding any Exempt Issuances
from the date of this Agreement) but retaining an interest equal to or greater than 15% (fifteen per cent) of such Shares, the
Investor shall be entitled to appoint and remove one Purchaser Director. Upon the Investor ceasing to have an interest in the Company
equal to or greater than 15% (fifteen per cent) of the total issued Shares from time to time (excluding any Exempt Issuances from
the date of this Agreement), it shall cease to have any right to appoint and remove a Purchaser Director pursuant to this Clause
8. This Clause 8 shall be in addition to and not in place of any right the Investor may have to appoint or remove Directors pursuant
to any Applicable Law or otherwise.

		8.2	The Company shall ensure, and shall procure that the Board of Directors shall exercise their powers
pursuant to the Company’s constitutional documents, such that the Purchaser Directors shall, as soon as possible following
the nomination of the Purchaser Directors in accordance with Clause 8.1, be appointed a member of the Board of Directors of the
Company by the then existing Board of Directors until the Company’s next annual general meeting, where s/he, or such Purchaser
Director’s replacement, shall be proposed and recommended for reappointment, subject to the Directors discharging their fiduciary
duties.

		8.3	As soon as practicable following Closing, the Company shall procure that the Board of Directors
shall procure that the articles of incorporation and by-laws of the Company are amended so as to include the rights of the Investor
under this Clause 8.

		8.4	For so long as the Investor has an interest in the Company that entitles it to appoint one or more
Directors, whether pursuant to Clause 8.1 above or otherwise, the Company shall provide that the Board shall be comprised of five
Directors, consisting of two (2) non-executive directors and three (3) executive directors, comprising a Chief Executive Officer,
a Chief Financial Officer and a Chief Operations Officer. For so long as the Investor is entitled to appoint at least two Directors,
the Company shall provide that the Investor shall be entitled to appoint two of the executive directors and, if the Investor shall
only be entitled to appoint one Director pursuant to Clause 8.1, the Company shall provide that the Investor shall be entitled
to appoint one executive director.

		9.	Registration Rights

		9.1	Registration; Definitions.

(a) As soon
as reasonably practicable but in any event within 12 months following Closing (the “Registration Due Date”), the Company
shall prepare and file with the SEC a registration statement covering the resale of all of the Subscription Shares (the “Registration
Statement”). The Registration Statement required hereunder shall be on Form S-1, SB-2, or any another appropriate form in
accordance herewith, in the sole discretion of the Company. Subject to the terms of this Agreement, the Company shall undertake
to cause the Registration Statement to be declared effective under the Securities Act as promptly as possible after the filing
thereof and shall undertake to keep the Registration Statement continuously effective under the Securities Act until the date when
all Subscription Shares covered by the Registration Statement have been sold or may be sold without volume restrictions pursuant
to Rule 144(k), as determined by the counsel to the Holder (as defined below) pursuant to a written opinion letter to such effect,
addressed and acceptable to the Company’s counsel, the Company’s transfer agent and the affected Holders (the “Effectiveness
Period”).

(b) In the
event the Company fails to file the Registration Statement with the SEC on or before Registration Due Date, the Company shall pay
to the Investor, as liquidated damages and not as a penalty, an amount, for each month (or portion of a month) in which such delay
shall occur, equal to five percent (5%) of the Purchase Price, until the point in time when the Company has filed the Registration
Statement with the SEC.

(c) The term
“Holder” shall mean the Investor and any person owning or having the right to acquire Subscription Shares or any permitted
transferee of a Holder.

		9.2	Registration Procedures; Company. In connection with the Company's registration obligations set
forth in Clause 9.1 above, the Company shall:

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(a) Not less
than five (5) Business Days prior to the filing of the Registration Statement or any related prospectus or any amendment or supplement
thereto (i) furnish to the Holders copies of all such documents proposed to be filed (including documents incorporated or deemed
incorporated by reference to the extent requested by such person) which documents will be subject to the review of such Holders
and (ii) cause its officers, directors, counsel and independent certified public accountants to respond to such inquiries as shall
be necessary, in the reasonable opinion of respective counsel, to conduct a reasonable investigation within the meaning of the
Securities Act. The Company shall not file the Registration Statement or any such prospectus or any amendments or supplements thereto
to which the Investor shall reasonably object in good faith, provided that the Company is notified of such objection in writing
no later than three (3) Business Days after the Holders have been so furnished copies of such documents.

(b) Prepare
and file with the SEC such amendments, including post-effective amendments, to the Registration Statement and the prospectus used
in connection therewith as may be necessary to keep the Registration Statement continuously effective as to the applicable Subscription
Shares for the Effectiveness Period and prepare and file with the SEC such additional Registration Statements in order to register
for resale under the Securities Act all of the Subscription Shares.

(c) Use commercially
reasonable efforts to avoid the issuance of, or, if issued, obtain the withdrawal of (i) any order suspending the effectiveness
of the Registration Statement or (ii) any suspension of the qualification (or exemption from qualification) of any of the Subscription
Shares for sale in any jurisdiction, at the earliest practicable moment.

(d) Comply
with all applicable rules and regulations of the SEC and all other Applicable Securities Laws.

(e) Furnish
to any Holder, so long as the Holder owns any Subscription Shares, forthwith upon request (i) a copy of the most recent annual
or quarterly report of the Company and such other reports and documents so filed by the Company, and (ii) such other information
as may be reasonably requested in availing any Holder of any Applicable Securities Laws which permits the selling of any such securities
without registration or pursuant to such form.

		9.3	Registration Procedures; Investor. In connection with the Company's registration obligations set
forth in Clause 9.1 above:

(a) The
Investor shall cooperate with the Company, as reasonably requested by the Company, and at the
Company's expense, in connection with the preparation and filing of any Registration Statement hereunder. 

(b)
If, in the good faith judgment of the Company, it would be detrimental to the Company or its stockholders for the Registration
Statement to be filed or for resales of Subscription Shares to be made pursuant to the Registration Statement due to (i) the existence
of a material development or potential material development involving the Company that the Company would be obligated to disclose
in the Registration Statement, which disclosure would be premature or otherwise inadvisable at such time or would have a Material
Adverse Effect on the Company or its stockholders or (ii) a proposed filing of or use of an existing registration statement in
connection with a Company-initiated registration of any class of its equity securities, which, in the good faith judgment of the
Company, would adversely effect or require premature disclosure of the filing or use of such Company-initiated registration (notice
thereof, a “Blackout Notice”), upon receipt of a Blackout Notice from the Company, the Investor
shall immediately discontinue disposition of Subscription Shares pursuant to the Registration Statement (the period during which
such disposition is discontinued, the “Blackout Period”) covering such Subscription Shares until (i) the Company advises
the Investor that the Blackout Period has terminated and (ii) the Investor
receives copies of a supplemented or amended prospectus, if necessary. If so directed by the Company, the Investor
will deliver to the Company (at the expense of the Company) or destroy (and deliver to the Company a certificate of destruction)
all copies in the Investor’s possession (other than a limited number of file copies) of
the prospectus covering such Subscription Shares that is current at the time of receipt of such notice.

(c)
If the Investor determines to engage an underwriter (other than the Subscriber) in connection
with the offering of any Subscription Shares (an “Underwritten Offering”), the Investor
will enter into and perform its obligations under an underwriting agreement, in usual and customary form, including, without limitation,
customary indemnification and contribution obligations, with the managing underwriter of such offering, and will take such other
actions as are reasonably required in order to expedite or facilitate the disposition of the Subscription Shares. The Investor
shall consult with the Company prior to any Underwritten Offering and shall defer such Underwritten Offering for a reasonable period
upon the request of the Company.

(d)
The Investor shall not take any action with respect to any distribution deemed to be made pursuant
to the Registration Statement, which would constitute a violation of Regulation M under the Securities Exchange Act or any other
Applicable Securities Law.

		9.4	Registration Expenses. All fees and expenses of the Company incident to the performance of or compliance
with Clause 9.1 and Clause 9.2 hereof by the Company shall be borne by the Company.

 

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		9.5	Indemnification. In the event that any Subscription Shares are included in a Registration Statement
under this Clause 9:

(a) To the
extent permitted by law, the Company will indemnify and hold harmless each Holder, any underwriter (as defined in the Securities
Act) for such Holder and each person, if any , who controls such Holder or underwriter within the meaning of the Securities Act
or the Securities Exchange Act, against any losses, claims, damages, or liabilities (joint or several) to which they may become
subject under Applicable Securities Law, insofar as such losses, claims, damages, or liabilities (or actions in respect thereof)
arise out of or are based upon any of the following statements, omissions or violations (collectively a “Violation”):
(i) any untrue statement or alleged untrue statement of a material fact contained in such registration statement, including any
preliminary prospectus or final prospectus contained therein or any amendments or supplements thereto, (ii) the omission or alleged
omission to state therein a material fact required to be stated therein, or necessary to make the statements therein not misleading,
or (iii) any violation or alleged violation by the Company of any Applicable Securities Law, and the Company will pay to each such
Holder, underwriter or controlling person, as incurred, any legal or other expenses reasonably incurred by them in connection with
investigating or defending any such loss, claim, damage, liability, or action; provided, however, that the indemnity agreement
contained in this Clause 9.5(a) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability, or action
if such settlement is effected without the consent of the Company (which consent shall not be unreasonably withheld), nor shall
the Company be liable in any such case for any such loss, claim, damage, liability, or action to the extent that it arises out
of or is based upon a Violation which occurs in reliance upon and in conformity with written information furnished expressly for
use in connection with such registration by any such Holder, underwriter or controlling person.

(b) To the
extent permitted by law, the Investor will indemnify and hold harmless the Company against any losses, claims, damages, or liabilities
(joint or several) to which any of the foregoing persons may become subject, under any Applicable Securities Law, insofar as such
losses, claims, damages, or liabilities (or actions in respect thereto) arise out of or are based upon any Violation, in each case
to the extent (and only to the extent) that such Violation occurs in reliance upon and in conformity with written information furnished
or omitted by such Holder for use in connection with such registration; and Investor will pay, as incurred, any legal or other
expenses incurred by any person intended to be indemnified pursuant to this Clause 9.5(b), in connection with investigating or
defending any such loss, claim, damage, liability, or action; provided, however, that the indemnity agreement contained in this
Clause 9.5(b) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or action if such settlement
is effected without the consent of the Investor, which consent shall not be unreasonably withheld; provided, further, that, in
no event shall any indemnity under this Clause 9.5(b) exceed the lesser of the cash value of the (i) gross proceeds from the offering
received by the Investor or (ii) the Purchase Price required by the Company.

(c) Promptly
after receipt by an indemnified party under this Clause 9.5 of notice of the commencement of any action (including any governmental
action), such indemnified party shall, if a claim in respect thereof is to be made against any indemnifying party under this Clause
9.5, deliver to the indemnifying party a written notice of the commencement thereof and the indemnifying party shall have the right
to participate in, and, to the extent the indemnifying party so desires, jointly with any other indemnifying party similarly notified,
to assume the defense thereof with counsel selected by the indemnifying party and approved by the indemnified party (whose approval
shall not be unreasonably withheld); provided, however, that an indemnified party (together with all other indemnified parties
which may be represented without conflict by one counsel) shall have the right to retain one separate counsel, with the fees and
expenses to be paid by the indemnifying party, if representation of such indemnified party by the counsel retained by the indemnifying
party would be inappropriate due to actual or potential differing interests between such indemnified party and any other party
represented by such counsel in such proceeding. The failure to deliver written notice to the indemnifying party within a reasonable
time of the commencement of any such action, if prejudicial to its ability to defend such action, shall relieve such indemnifying
party of any liability to the indemnified party under this Clause 9.5, but the omission so to deliver written notice to the indemnifying
party will not relieve it of any liability that it may have to any indemnified party otherwise than under this Clause 9.5.

 

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(d) If the
indemnification provided for in this Clause 9.5 is held by a court of competent jurisdiction to be unavailable to an indemnified
party with respect to any loss, liability, claim, damage, or expense referred to therein, then the indemnifying party, in lieu
of indemnifying such indemnified party hereunder, shall contribute to the amount paid or payable by such indemnified party as a
result of such loss, liability, claim, damage, or expense in such proportion as is appropriate to reflect the relative fault of
the indemnifying party on the one hand and of the indemnified party on the other in connection with the statements or omissions
that resulted in such loss, liability, claim, damage, or expense as well as any other relevant equitable considerations. The relative
fault of the indemnifying party and of the indemnified party shall be determined by reference to, among other things, whether the
untrue or alleged untrue statement of a material fact or the alleged omission to state a material fact relates to information supplied
by the indemnifying party or by the indemnified party and the parties' relative intent, knowledge, access to information, and opportunity
to correct or prevent such statement or omission.

(e) The obligations
of the Company and Investor under this Clause 9.5 shall survive the completion of any offering the Subscription Shares in a Registration
Statement under this Clause 9, and otherwise.

		9.6	Cutback. In connection with filing the Registration Statement pursuant to Clause 9.1 hereof, the
obligations of the Company set forth in this Clause 9 are subject to any limitations on the Company’s ability to register
the full complement of such shares in accordance with Rule 415 under the Securities Act or other regulatory limitations. To the
extent the number of such shares that can be registered is limited, the Company shall file a subsequent registration agreement
which will provide, among other things, that the Company will use its commercially reasonable efforts to register additional changes
of Subscription Shares as soon as permissible thereafter under applicable laws, rules and regulations so that all of such Subscription
Shares are registered as soon as reasonably practicable.

		9.7	Piggy-Back Registration. If at any time during the Effectiveness Period there is not an effective
Registration Statement covering all of the Subscription Shares and the Company shall determine to prepare and file with the SEC
a registration statement relating to an offering for its own account or the account of others under the Securities Act of any of
its equity securities, other than on Form S-4 or Form S-8 (each as promulgated under the Securities Act) or their then equivalents
relating to equity securities to be issued solely in connection with any acquisition of any entity or business or equity securities
issuable in connection with the stock option or other employee benefit plans, then the Company shall send to each Holder a written
notice of such determination and, if within fifteen (15) days after the date of such notice, any such Holder shall so request in
writing, the Company shall include in such registration statement all or any part of such Subscription Shares such Holder requests
to be registered, subject to customary underwriter cutbacks applicable to all holders of registration rights.

		9.8	Waivers. With the written consent of the Company and the Investors, any provision of this Clause
9 may be waived (either generally or in a particular instance, either retroactively or prospectively and either for a specified
period of time or indefinitely) or amended, which waiver shall be applicable to all Holders, and shall be deemed to have been consented
to by all Holders. Upon the effectuation of each such waiver or amendment, the Company shall promptly give written notice thereof
to the Holders, if any, who have not previously received notice thereof or consented thereto in writing.

		10.	Notices

		10.1	All notices pertaining to this Agreement may be delivered in person or sent by facsimile or by
registered post or by courier addressed in the case of a notice to the Company: C/- Coresco AG, Level 3, Gotthardstrasse 20, 6304
Zug, Switzerland, Attn: Lars Pearl, Chief Executive Officer.

		10.2	All notices pertaining to this Agreement may be delivered in person or sent by facsimile or by
registered post or by courier addressed in the case of a notice to the Investor: c/o Kaiser Partner Trust Services Anstalt, Pflugstrasse
12, 9490 Vaduz, Liechtenstein, Tel. +423 236 56 49 Fax +423 236 54 95, Attn: Hossam Sobhy, Trust Officer.

		10.3	Any such notice shall be delivered by hand or sent by fax transmission or pre-paid first class
post and, in the absence of evidence of earlier receipt, if delivered by fax shall conclusively be deemed to have been given or
served at the time of printout of a transmission report showing that the correct number of pages has been sent without error and
if sent by post shall conclusively be deemed to have been received 5 days after the date of posting.

		11.	Withholding and grossing-up

		11.1	If the Internal Revenue Service of the USA or any other tax authority brings into charge to taxation
(or into any computation of income, profit or gains for the purposes of any charge to tax) any sum payable to a Party under this
Agreement, then the person liable to make such payment shall pay such additional amount as shall be required to ensure that the
total amount paid, less the tax chargeable thereon (or that would be so chargeable but for the availability of relief in respect
of that charge to tax), is equal to the amount that would otherwise be payable to the Party under this Agreement.

 

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		12.	Time of essence

Any time, date or period referred
to in this Agreement may be extended by written agreement between the Parties but as regards any time, date or period originally
fixed or any time, date or period so extended time shall be of the essence.

		13.	Amendments

No amendments to this Agreement
shall be effective unless made in writing and signed by or on behalf of each of the Parties, by authorized signatories.

		14.	Entire Agreement

		14.1	This Agreement contains the entire agreement between the Parties in relation to the Transactions
and any such document supersedes any previous agreements, whether oral, written or otherwise, between the Parties in relation to
such matters.

		14.2	Each of the Parties acknowledges that in entering into this Agreement it has not relied on any
representation, warranty or undertaking not set out in this Agreement and that (in the absence of fraud, dishonesty or wilful non-disclosure)
it will not have any right or remedy arising out of any such representation, warranty or undertaking.

		15.	Waiver

		15.1	The failure by any Party to exercise or delay in exercising any rights or remedy under this Agreement
shall not constitute a waiver of the right or remedy or a waiver of any other rights or remedies that a Party may otherwise have
and a waiver or delay in exercising any right or remedy against one Party shall not constitute a waiver of any right or remedy
that Party may have against any other Party. No single or partial exercise of any right or remedy under this Agreement shall prevent
any further exercise of the right or remedy or the exercise of any other right or remedy.

		15.2	The rights and remedies contained in this Agreement are in addition to, and not exclusive of, any
other rights or remedies available at law.

		16.	Successors

This Agreement shall be binding
on and inure to the benefit of the lawful successors and assigns of each Party.

		17.	Assignment

The benefit of this Agreement
may not be assigned by either Party without the prior written consent of the other Party, save that the Investor shall be entitled
at any time to assign the benefit of this Agreement to any of its Affiliates and, upon such assignment, the assignee shall be treated
as the Investor pursuant to this Agreement for all purposes.

		18.	The Contracts (Rights of Third Parties) Act 1999

A person who is not a party
to this Agreement has no right under the Contracts (Rights of Third Parties) Act 1999 to rely upon or enforce any term of this
Agreement but this does not affect any right or remedy of a third party which exists or is available apart from that Act.

		19.	Fees

Each Party will bear its own
fees, costs and expenses relating to the issue of the Subscription Shares.

		20.	Further Assurance

Each Party shall provide all
information and assistance the other Party may reasonably require for the purposes of this Agreement and execute and perform each
document, act and thing that the other Party may reasonably require to give effect to this Agreement.

		21.	Counterparts

This Agreement may be signed
in any number of counterparts and by the Parties on separate counterparts, each of which is an original, but all of which constitute
one and the same instrument. Delivery of an executed counterpart signature page of this Agreement by e-mail (PDF) or facsimile
shall be as effective as delivery of a manually executed counterpart of this Agreement. In relation to each counterpart, upon confirmation
by or on behalf of the signatory that the signatory authorises the attachment of such counterpart signature page to the final text
of this Agreement, such counterpart signature page shall take effect together with such final text as a complete authoritative
counterpart.

		22.	Governing Law and Jurisdiction

		22.1	This Agreement shall be construed in accordance with and governed by the law of England.

		22.2	Any dispute arising out of or in connection with this Agreement (including a dispute regarding
the existence, validity or termination of this Agreement or the consequences of its nullity) shall be referred to and finally resolved
by arbitration under the Arbitration Rules (the “Rules”) of the London Court of International Arbitration.

 

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		22.3	The arbitral tribunal shall consist of a panel of 3 (three) arbitrators, one appointed by the claimant(s),
one appointed by the respondent(s) and the third to be appointed by the arbitrators so appointed. If the third arbitrator is not
appointed as aforesaid within 30 (thirty) day of the appointment of the last of the first two arbitrators then the third arbitrator
shall be appointed in accordance with the Rules.

		22.4	The seat of arbitration shall be London, England and the language of the arbitration shall be English.

		22.5	The Parties hereby waive any right to submit to the jurisdiction of any national court and in particular
exclude the jurisdiction of the courts under Sections 45 and 69 of the Arbitration Act 1996.

		22.6	The Parties shall use their reasonable endeavours:

		(a)	to assist the arbitrators;

		(b)	to provide to the arbitrators such deeds, documents and information as the arbitrators may from
time to time reasonably require;

		(c)	to procure a speedy determination of the dispute; and

		(d)	to provide to the arbitrators such security for fees and expenses as the arbitrators may reasonably
require.

		22.7	The award of the arbitral tribunal shall be in writing, state the reasons upon which it is based
and shall be final and binding on the parties. The arbitral tribunal shall not be limited in its powers to make such awards as
it sees fit, including (without limitation to the generality of the foregoing), injunctive relief, orders for specific performance,
rectification, setting aside or cancellation of documents. The award may include an award of costs, including reasonable attorney’s
fees and disbursements. Any monetary award shall be made in US dollars.

		22.8	Judgment upon the award may be entered by any court having jurisdiction thereover or having jurisdiction
over the relevant party or its assets.

		22.9	Nothing in this Clause 21 shall prevent any Party from seeking injunctive or other interim or provisional
relief from any applicable court or administrative body at any time.

		22.10	The Parties agree that the losing Party shall pay all costs and expenses, except as otherwise ordered
by the arbitration tribunal.

		22.11	If the Parties initiate multiple arbitration proceedings, the subject matters of which are related
by common questions of law or fact and which could result in conflicting awards or obligations, then all such proceedings may be
consolidated into a single arbitral proceedings.

 

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Schedule 1

The Warranties

		1.	Capacity and Authority 

		1.1	Each Group Company has been duly incorporated and is validly existing under the law of the place
of its incorporation, has full corporate power and authority to carry on business as carried on up to the date of this Agreement
and as intended to be carried on at the date of this Agreement. Each Group Company is duly
qualified to do business and is in good standing under the laws of each jurisdiction that requires such qualification and there
has been no violation or default with respect to any statute, regulation, order, decree or judgment of any court or any governmental
agency which could have a Material Adverse Effect.

		1.2	All of the issued and outstanding shares of each Group Company have been duly and validly authorised
and issued, are fully paid and non-assessable, and are free and clear of any Encumbrance and the shares in the capital of each
Subsidiary are wholly owned by the Company or by a Subsidiary.

		1.3	None of the issued and outstanding shares of any Group Company was issued in violation of any statutory
or contractual or other pre-emptive right or Encumbrance or similar rights of any security holder of such company, and no person
has any pre-emptive rights with respect to the shares of any Group Company.

		1.4	Each Group Company has full corporate power and authority, and has obtained, or will, prior to
Closing, have obtained all consents and approvals, to enter into and perform its obligations under this Agreement and the execution
of this Agreement by the Company has been duly authorised and constitutes valid, legally binding obligations of the Company enforceable
against the Company in accordance with its terms.

		1.5	The entry into and performance of this Agreement by each Group Company and the performance of the
obligations thereunder including the allotment and issue of the Subscription Shares:

		(a)	are within the powers of each Group Company and the directors of each Group Company without the
need for any sanction or consent by members of the Company or any other person;

		(b)	comply and will comply with its constitutional documents and all applicable laws and regulations
including Applicable Securities Laws; and

		(c)	will not infringe or exceed any limits, powers or restrictions to which any Group Company is subject
or the terms of any agreement, arrangement or obligation of any Group Company, nor give rise to any obligation or commitment under
any such agreement, arrangement or obligation which is inconsistent with the Subscription and the Transactions or any pre-emptive
rights of any person.

		1.6	No agreement, arrangement or obligation to which any Group Company is a party or by which any Group
Company or any of its assets is bound will be terminated, materially adversely affected or breached by reason of the Subscription
and the Transactions.

		1.7	The Transactions do not require approval of the shareholders of any Group Company.

 

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		2.	Prior documents and announcements

		2.1	In paragraph 2.2 a "document" means a document issued, and an "announcement"
means an announcement made to the public, press, or the SEC, the OTCQ or any Relevant German Exchange or filed on EDGAR by or on
behalf of the Company since August 31, 2009.

		2.2	In respect of all documents issued, and announcements filed by or on behalf of the Company on EDGAR
since August 31, 2009 or that are publicly filed with any Relevant German Exchange since that date ("Publicly Available
Information"):

		(d)	all statements of fact contained therein were when made true and accurate in all material respects
and were when made not misleading in any material respect;

		(e)	no Publicly Available Information omits to state a material fact required to be stated therein
or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading in any material
respect;

		(f)	all forecasts, estimates, expressions of opinion, belief, intention and expectation contained therein
were when made fair and honestly held and were made on reasonable grounds after due and careful consideration capable of being
properly supported in all material respects; and

		(g)	each of such documents and announcements complied in all respects with the Law, Applicable Securities
Laws and all other applicable laws and regulations,

 

except as disclosed in any document filed on EDGAR
or publicly with any Relevant German Exchange after the issue of the relevant document.

		3.	Annual Accounts and Financial Position

		3.1	The Annual Accounts:

		(h)	have (except as therein disclosed) been prepared
in accordance with all applicable law and the provisions of generally accepted accounted principles as adopted by the United States
of America ("GAAP") consistently applied;

		(i)	give a true and fair view of the assets, liabilities (including contingent liabilities), reserves,
profits, losses and the state of affairs of the Group as at the Accounts Date and of consolidated profit and losses of the Group
for the financial year ended on that date;

		(j)	fairly set out the assets, reserves and profits/losses of the Group;

		(k)	contain all debts and liabilities of the Group and make proper provision for or note, if appropriate
under GAAP, all material liabilities or commitments whether actual, deferred, contingent or disputed, of the Group as at the Accounts
Date;

		(l)	do not contain any untrue statement of a material fact or omit to state a material fact required
to be stated or that is necessary to make a statement not misleading in light of the circumstances under which it was made; and

		(m)	have been audited by auditors who are independent with respect to the Company.

 

		3.2	Since the Accounts Date and except as disclosed in the Publicly Available Information or additionally
disclosed to the Investor in writing:

		(a)	each Group Company's business activities have been carried on in the ordinary and usual course
and in substantially the manner as prior thereto;

		(b)	there has been no material adverse change, nor, so far as the Company is aware, any development
which might give rise to a material adverse change, in the financial or trading position or prospects of a Group Company or the
Group taken as a whole;

		(c)	there has been no depletion in the net assets of the Group in excess of US$20,000;

		(d)	no Group Company has assumed or incurred any borrowing, indebtedness in the nature of borrowing,
guarantee or liability (contingent or otherwise) in excess of US$20,000;

		(e)	no Group Company has waived any right or discharged any obligation owed to it from a third party,
whether in whole or in part, in excess of US$20,000;

		(f)	no Group Company has acquired any equity investment, made any asset acquisition or made any other
capital expenditure;

		(g)	no Group Company has increased the compensation or amended the compensation structure of its directors,
officers or employees [, except as provided in Clause 2.1(g)];

		(h)	no Group Company has entered into any contract or commitment of a long term or unusual nature or
which involves an obligation of a material nature or magnitude in excess of US$20,000;

 

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		(i)	no Group Company has acquired or disposed of, or agreed to acquire or dispose of, any business,
company or asset which is in excess of US$20,000;

		(j)	no Group Company has incurred any liability for Taxation in any jurisdiction in excess of US$20,000;

		(k)	no Group Company has declared, paid or made any dividend or other distribution; and

		(l)	no Group Company is involved in any claim or dispute with any Tax Authority (in any jurisdiction)
which could reasonably be considered material to any Group Company and to the best of the knowledge, information and belief of
the Company there is no significant risk that such a claim or dispute will be made or arise.

		4.	Interim Accounts

The
Interim Accounts have been prepared in accordance with, and comply with, GAAP and, save for the fact that they are unaudited, give
a true and fair view of the financial results, the consolidated profits and losses and the state of affairs of the Group for the
six months ended June 30, 2012 and have been prepared on bases consistent with the bases on which the Annual Accounts
were prepared.

		5.	Insolvency

		5.1	In relation to each Group Company:

		(n)	no resolution has been passed (and no meeting has been convened, and so far as the Company is aware,
no written resolution has been circulated with a view to any resolution), no petition has been presented or so far as the Company
is aware, threatened and no order has been made for administration or winding up or for the appointment of a receiver or provisional
liquidator;

		(o)	no receiver or receiver and manager has been appointed, no Encumbrance has been enforced, and no
floating charge has crystallised on or over any of its current business or assets (and which appointment or enforcement is on going),
and so far as the Company is aware no event has occurred or will occur by virtue only of the execution and performance of this
Agreement which would cause, or entitle any person to cause, any of these things to happen; and

		(p)	no insolvency event (as defined in any Applicable law in respect of the Company or any other applicable
law in respect of any other Group Company) has taken place or occurred and no Group Company has ceased or threatened to cease carrying
on its business.

		6.	Shares and rights to subscribe for shares 

		6.1	As at the date of this Agreement, there are 114,144,706 Shares issued and outstanding (collectively
the “Shares”) and 17,650,000 Shares available for issuance upon outstanding options, warrants, convertible securities
and rights. Upon Closing, the company will have 300,000,000 authorized Shares, of which 249,144,706 shall be issued and outstanding.

		6.2	Except as disclosed in Clause 6.1 above, the Accounts or the Publicly Available Information, there
are no outstanding securities convertible into or exchangeable for, or warrants, rights or options, or agreements to grant warrants,
rights or options, to purchase from the Company or any Group Company or to subscribe for, or obligations or commitments of the
Company or any Group Company to create, issue, sell or otherwise dispose of, any securities (or any such securities, warrants,
rights, options or obligations) of the Company or any Group Company.

		6.3	The Subscription Shares are freely transferable in accordance with the constitution of the Company,
subject however, to all restrictions on the sale, transfer or other disposition thereof imposed by the US Securities Laws thereon..

		6.4	At Closing, the Subscription Shares will be reserved for issuance and, will be validly issued,
fully paid and non-assessable, free from all Encumbrances and equities of any kind whatsoever and will rank pari passu in all respects
with the Shares in issue at such date and will include all rights attaching or accruing thereto.

		7.	Tax

		7.1	Each Group Company has duly and punctually made all returns and given or delivered all notices,
accounts and information which ought to have been made to, and is not involved in, any dispute with a Tax Authority concerning
any matter likely to affect in any way the liability (whether accrued, contingent or future) of it to Tax and no Group Company
is aware of any matter which may lead to such dispute.

		7.2	Each Group Company has duly paid or fully provided for all Tax for which it is liable and there
are no circumstances in which interest or penalties in respect of Tax not duly paid could be charged against it in respect of any
period prior to Closing.

		7.3	No Group Company has entered into or been a party to any schemes or arrangements designed partly
or wholly for the purpose of it or any other person avoiding Tax.

 

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		7.4	All documents to which any Group Company is a party or which form part of any Group Company’s
title to any asset owned or possessed by it or which any Group Company may need to enforce or produce in evidence have been duly
stamped and (where appropriate) adjudicated.

		8.	Employees

		8.1	There are no material outstanding or anticipated claims or disputes between any Group Company and
any employees directly or any trade union or other body representing all or any of the employees of any Group Company.

		8.2	There are no agreements or arrangements (whether legally enforceable or not) in operation for the
payment, after the date of this Agreement, of a contribution towards any pensions, allowances, lump sums or like benefits on retirement,
death or during periods of sickness or disablement for the benefit of any director, former director, employee or former employee
of any Group Company or the dependants of any such persons nor has any proposal been announced to establish any such agreement
or arrangement.

		8.3	The Company is not a party to any collective bargaining agreement or a union contract. The Company
believes that its relations with its employees are good. No executive officer (as defined in Rule 501(f) of the Securities Act)
of the Company has notified the Company that such officer intends to leave the Company or otherwise terminate such officer's employment
with the Company. The Company is in compliance with all federal, state, local and foreign laws and regulations respecting employment
and employment practices, terms and conditions of employment and wages and hours, except where failure to be in compliance would
not, either individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect. The Company does not
maintain any compensation or benefit plan, agreement, arrangement or commitment (including, but not limited to, "employee
benefit plans", as defined in Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended ("ERISA")
for any present or former employees, officers or directors of the Company or with respect to which the Company has liability or
makes or has an obligation to make contributions, other than any such plans, agreements, arrangements or commitments made generally
available to the Company’s employees.

		9.	Insurance

The assets of the Group
and their businesses and operations are insured against loss or damage with reputable insurers to the extent required by the laws
and regulations of and as is customary in each country in which any Group Company has a presence and all such insurance policies
are in full force and effect and there are no circumstances which could render any of such insurances void or voidable and there
is no insurance claim made by or against any Group Company pending, threatened or outstanding and all premiums due in respect of
such insurances have been paid.

		10.	Compliance with laws

		10.1	No Group Company has committed, or may be liable for, any criminal, illegal or unlawful, act or
material breach of covenant, contract or statutory duty.

		10.2	Each Group Company has at all times complied
in all material respects with all applicable supra-national, national, federal, state, local and foreign statutes, laws,
regulations, ordinances, rules, judgements, orders, decrees, permits, concessions, grants, licences or agreements and has complied
with all conditions relevant thereto.

		10.3	There is no order, decree or judgment of any court or any governmental or other competent authority
or agency of any country outstanding against any Group Company or any person for whose acts any Group Company is vicariously liable,
which, in each case, would or would be reasonably likely (singly or in aggregate) to have a Material Adverse Effect.

		10.4	Each Group Company has obtained all necessary licences, consents, permits and authorities (public
and private) to enable it to carry on its business in the places and in the manner in which it is now carried on. All such licences,
consents, permits and authorities are valid and subsisting and have been complied with in all respects and, so far as the Company
is aware there is no reason why any of them should be suspended, cancelled or revoked.

		10.5	So far as the Company is aware, there is not pending, or in existence, any investigation or enquiry
by, or on behalf of, any governmental or other body in respect of the affairs of the Group Companies.

		11.	Events of default

		11.1	No circumstances have arisen or, so far as the Company is aware, are likely to arise in which any
person is entitled or would, with the giving of notice and/or the lapse of time, be entitled to require repayment of any Group
Company's borrowing or indebtedness in the nature of borrowing before its stated maturity or performance of a guarantee or indemnity
given by a Group Company whether in any such case such indebtedness is secured or unsecured. No Group Company has received notice
to repay under any agreement relating to any borrowing or indebtedness in the nature of borrowing which is repayable on demand,
and so far as the Company is aware there are no circumstances known to the Company which are likely to lead to such circumstances
arising.

 

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		11.2	No event has occurred or is subsisting or, to the best of the knowledge, information and belief
of the Company is reasonably foreseeable which constitutes or results in, or would constitute or result in, a default or the acceleration
of any obligation under any agreement, instrument or arrangement to which any member of the Group is a party or by which they or
any of their properties, revenues or assets are bound and which would in any such case have a Material Adverse Effect.

		11.3	The Company is not aware of any circumstances that have arisen or are likely to arise in which
any person is entitled or would, with the giving of notice and/or the lapse of time, be entitled to require repayment of any Group
Company's borrowing or indebtedness in the nature of borrowing before its stated maturity or performance of a guarantee or indemnity
given by a Group Company whether in any such case such indebtedness is secured or unsecured.

		11.4	No circumstances have arisen or, so far as the Company is aware, are likely to arise in which any
person is entitled or would, with the giving of notice and/or the lapse of time, be entitled to exercise a security or Encumbrance
over any shares or assets of any Group Company.

		11.5	Each Group Company pays all its debts as they fall due and has agreed an extension of the time
for repayment of all outstanding debts from their original repayment dates.

		12.	Contracts

		12.1	No Group Company is a party to, or affected by, any contract or arrangement otherwise than by way
of a bargain at arm’s length.

		12.2	So far as the Company is aware, there are no grounds for rescission, avoidance or repudiation of
any agreement or other transaction to which any Group Company is a party and which is material to the business of such Group Company,
and to the best of the knowledge, information and belief of the Company, none of such agreements or other transactions are invalid
and no Group Company has received notice of any intention to terminate any such agreement or repudiate or disclaim any such transaction.

		12.3	No contract or arrangement exists between any Group Company and (in his capacity as such) any person
who owns or, has any interest in or rights in relation to any share capital of any such company (or any person who is connected
with such a person) with regard to:

		(a)	the management of any business of any company in the Group; or

		(b)	the appointment or removal of any of the directors of any company in the Group; or

		(c)	any other matter concerning any company in the Group or its affairs.

		12.4	So far as the Company is aware, no event has occurred or is subsisting or is about to occur which
constitutes or would, with the giving of notice and/or lapse of time, constitute a material default, or result in the acceleration
by reason of default, of any obligation, under any agreement, undertaking, instrument or arrangement to which any Group Company
is a party or by which it or any of them or any of their respective properties, revenues or assets are bound and which is material
to the business of such Group Company.

		12.5	There are no agreements or arrangements in force imposing any material restrictions on the Company
or any of its directors, officers or employees which would materially adversely affect the ability of the Company to conduct its
business in the places and in the manner currently undertaken.

		12.6	Except as disclosed in the Accounts or the Publicly Available Information, there are no outstanding
obligations or liabilities for any Group Company to make any payment pursuant to any subscription, investment, sale or purchase
or acquisition agreement to which any Group Company is or has been a party.

		12.7	Except for any intra-group company loans as may exist between the Group Companies there are no
loan or debt facility agreements or arrangements in place.

		13.	Litigation

		13.1	No Group Company is, and so far as the Company is aware, no person for whose acts or defaults any
Group Company may be vicariously liable is involved, or has been involved in any litigation (whether civil or criminal), arbitration,
administrative or similar proceedings or in any governmental, regulatory or similar investigation or enquiry in any jurisdiction
which, individually or collectively, are of material importance in the context of any Group Company or may have or have had a significant
effect on the financial position of any Group Company.

		13.2	To the best of the knowledge and belief of the Company, having made all reasonable enquiries, no
facts or circumstances exist which might give rise to any such litigation (civil or criminal), arbitration, administrative or similar
proceedings or in any governmental, regulatory or similar investigation or enquiry in any jurisdiction involving any Group Company
or so far as the Company is aware a person for whose acts or defaults the Company may be vicariously liable.

 

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		13.3	There is no outstanding judgment, order, decree, arbitral award or decision of any court, tribunal,
arbitrator, governmental or regulatory agency against any Group Company or so far as the Company is aware against any person for
whom they are or may be vicariously liable.

		14.	Applicable Securities Laws

		14.1	The Shares are currently quoted for trading on the OTCQ and each
of the Relevant German Exchanges and the Company is currently compliance with the listing requirements of the OTCQ and any Relevant
German Exchange. To the knowledge of the Company no inquiry, review or investigation (formal or informal) by any securities regulator,
the OTCQ or any Relevant German Exchange is in effect or ongoing or has been threatened.

		14.2	No securities commission or any similar regulatory authority
in any jurisdiction has issued any order which is currently outstanding preventing or suspending trading in any securities of the
Company, no such proceeding is, to the knowledge of the Company, pending, contemplated or threatened, and the Company is not in
default of any requirement of Applicable Securities Laws.

		14.3	The Company is a “reporting issuer”
in the USA and is in compliance with its obligations under Applicable Securities Laws in all material respects and is not
on the list of defaulting reporting issuers maintained pursuant to Applicable Securities Laws by the SEC. The Company has not taken
any action to cease to be a reporting issuer nor has the Company received notification from any applicable securities regulatory
authority seeking to revoke the reporting issuer status of the Company.

		14.4	The Company is in compliance with its obligations under Applicable Securities Laws, regulations,
rules, instruments, rulings and orders of Germany and the USA in all material respects, including, without limitation, the Company’s
obligation to file documents and information in a timely manner with public authorities (including the SEC).

		15.	Subsidiaries

		15.1	The Company has no subsidiaries other than those referred to in the Accounts and the Company is
the beneficial owner (directly or indirectly), free from all claims and encumbrances whatsoever, of the whole of the issued share
capital of its subsidiaries. The issued share capital of each of the Company’s subsidiaries is fully paid or properly credited
as fully paid.

		15.2	No person has the right (whether exercisable now or in the future and whether contingent or not)
to call for the allotment, conversion, issue, sale or transfer of any share or loan capital or any other security of any kind giving
rise to a right over the share capital of any of the Company’s subsidiaries.

		16.	Intellectual Property

		16.1	Each Group Company owns or has validly licensed all Intellectual Property Rights that it requires
in order to conduct its business as it is currently conducted or as it is currently proposed to be conducted.

		16.2	The business of each Group Company does not, and as it is currently proposed to be conducted will
not, infringe or conflict with in any material respect any Intellectual Property Rights and no Group Company is in breach of any
licence of Intellectual Property Rights granted to any Group Company and no Group Company has received notice that it is in breach
of any licence of Intellectual Property Rights granted to any Group Company and no Group Company has received notice that there
are grounds for terminating any licence of Intellectual Property Rights granted to any Group Company which may have or has had
or is likely to have a Material Adverse Effect and no Group Company is liable to make any payment (or provide other consideration)
contingent or otherwise to any third party in respect of any use of any Intellectual Property Rights which may have or has had
or is likely to have a Material Adverse Effect.

		17.	Specific Warranties

		17.1	So far as the Company is aware, upon filing a final research report with the DPNM, there are no
reasons that would or might prevent each Group Company holding a research permit in Brazil in respect of an area from receiving
a mining concession in respect of that area within twelve (12) months of filing such report and from acquiring all necessary land
ownership or usage rights in respect of such area within three (3) months of the receipt of such concession.

		17.2	Where any Group Company holds a research permit or has had a research permit transferred to it,
it has obtained all land ownership and usage rights necessary for it to carry out its obligations under such research permit and
to carry out all activities (whether necessary or desirable) permitted under such permit.

 

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		17.3	So far as the Company is aware, where any Group Company has made an application for a research
permit, there are no reasons that would prevent it from obtaining such permit within twelve (12) months of the application and
all land ownership and usage rights necessary for it to carry out its obligations under such research permit and to carry out all
activities (whether necessary or desirable) permitted under such permit within three (3) months after the grant of such permit.

		17.4	So far as the Company is aware, there are no laws, regulations, agreements, arrangements, issues
or other circumstances in existence that would prevent or materially restrict any relevant Group Company from exercising any of
its rights or carrying out any works permitted by any research permit granted to it or for its benefit or which would materially
adversely affect the ability of such Group Company to conduct its business in the places and in the manner currently undertaken.

		17.5	No additional payment will be required to be made to any person with respect to the grant of a
research permit pursuant to mining process 850119/2006 and Aurora is not aware of any reason why such permit will not be granted
by December 31, 2012.

		17.6	No Group Company is under any obligation to make any payment to Altoro Mineracao Ltda in respect
of the assignment of mining rights by it to a Group Company or in respect of the transfer to it of the research permit in respect
of mining process 859.587/95 from Vera Lucia Lopes Ferraz.

		17.7	The Company, either itself or through its advisers, has disclosed to the Purchaser in writing full
details of all mining processes to which any Group Company is a party or in which any Group Company has an interest.

		17.8	The Company has taken no action which would give rise to any claim by any person for brokerage
commissions, finder’s fees or similar payments relating to this Agreement or the transactions contemplated hereby.

		17.9	The Company is not, and upon consummation of the sale of the Securities will not be, an “investment
company,” a company controlled by an “investment company” or an “affiliated person” of, or “promoter”
or “principal underwriter” for, an “investment company” as such terms are defined in the Investment Company
Act of 1940, as amended.

		17.10	The Agreement and all other documents delivered to the Investor in connection herewith at the Closing,
do not, as of their respective dates, contain any untrue statement of a material fact, or omit to state a material fact necessary
to make the statements therein, in light of the circumstances under which they were made, not misleading.

		17.11	Neither the Company nor any of its Affiliates, nor any person acting on its or their behalf, has
directly or indirectly made any offers or sales in any security or solicited any offers to buy any security under circumstances
that would require registration under the Securities Act. Except as disclosed in the Agreement, the Company has not sold or issued
any shares, convertible notes or warrants during the past six months, including sales pursuant to Rule 144A, Regulation D or Regulation
S under the Securities Act.

 

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Schedule 2

Limitations on liability

		1.	Time limits for bringing claims

		1.1	The Company shall not be liable for any claim for breach of Warranty unless it is given written
notice of the claim ("Claim") (specifying in reasonable detail the matter giving rise to the Claim, the nature
of the Claim and, if practicable, the amount claimed):

		(q)	on or before the seventh anniversary of Closing in respect of any Claim relating to Tax; and

		(r)	on or before the expiry of the period of six months following the publication of the audited consolidated
Accounts for the Company for the period ended December 31, 2013 in respect of any other Claim.

		1.2	The Company shall not be liable to satisfy any Claim if and to the extent that the Claim is based
upon a liability which is contingent only unless and until such contingent liability becomes an actual liability, but this paragraph
shall not operate to avoid any Claim made in respect of a contingent liability of which notice is given within the applicable time
limits referred to in paragraph 1.1 together with such material details relating to that claim of which the Investor shall be aware when giving
such notice.

		2.	Changes in Law

The Company’s liability
in respect of a Claim shall be reduced if and to the extent that the Claim arises or is increased as a result of, or is otherwise
attributable to, the passing or coming into force of, or any change, after the date of this Agreement, in any law, rule, regulation,
directive, interpretation of the law or any administrative practice of any government, governmental department, agency or regulatory
body or any increase in the rates of Taxation or any imposition of Taxation in each case with retrospective effect, in any such
case not actually or prospectively in force at the date of Closing;

		3.	No liability if loss is otherwise compensated

		3.1	The Investor shall not be entitled to recover more than once in respect of the same loss giving
rise to a Claim.

		3.2	Nothing in this Schedule 2 shall in any way restrict or limit the general obligation at law of
the Investor to mitigate any loss or damage which it may suffer in consequence of any matter giving rise to any Claim.

		4.	Recovery from third parties 

		4.1	If the Company pays to the Investor an amount in full satisfaction of any liability under the Warranties
("Liability Amount") and the Investor recovers from some other person (including under any policy of insurance)
any sum by reason of or in respect of the matter giving rise to the Claim by the Investor against the Company then:

		(s)	the Investor shall, subject to being indemnified to its reasonable satisfaction against all costs
and expenses for which the Investor may become liable, take such steps to enforce such recovery or reimbursement from such other
person as the Company may reasonably request provided always that the Investor shall not be obliged to take any steps which in
its reasonable opinion might have an adverse effect upon the business of the Company or any of its shareholders or any Group Company;
and

		(t)	if the Investor recovers from a third party any sum which is directly referable to the Liability
Amount, the Investor shall repay to the Company the lesser of (a) the Liability Amount paid by it to the Investor and (b) the sum
recovered from the third party less all reasonable costs, charges and expenses incurred by the Investor in recovering that sum
from the third party and any Taxation payable on that sum to the extent that it has not been satisfied in full pursuant to the
indemnity referred to in paragraph 4.1(a) above.

		5.	No Recourse Against the Company’s Officers and Directors

		5.1	The Investor warrants and agrees that any liability resulting under this Agreement shall be without
recourse to the Officers and Directors of the Company, personally, except in the case of fraud, wilful misconduct or gross negligence.

 

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IN WITNESS WHEREOF, this Agreement has been
signed on behalf of each of the Parties by a duly authorised signatory on the date stated at the beginning of this document.

 

SIGNED for and on behalf of AURORA GOLD CORPORATION:

 

	 	 
	Signature	 
	 	 
	Print name	 
	 	 
	Title	 

 

SIGNED for and on behalf of ALLTECH CAPITAL LIMITED:

 

	 	 
	Signature	 
	 	 
	Print name	 
	 	 
	Title	 

 

    	25

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