Document:

Exhibit 10.2

                           CONVERTIBLE LOAN AGREEMENT

THIS  CONVERTIBLE  LOAN AGREEMENT made as of the 22nd day of April,  2010,  (the
"Effective Date").

BETWEEN:

          American  Paramount Gold Corp. of 50 West Liberty  Street,  Suite 880,
          Reno, Nevada 89501

          (hereinafter referred to as the "Company")

AND:

          Monaco  Capital  Inc. of 7 New Road,  Second  Floor,  #6 Belize  City,
          Belize

          (hereinafter referred to as the "Lender")

WHEREAS:

A.   Lender  desires to loan funds to the Company  pursuant to the terms of this
     Agreement in the principal  amount of up to Five Hundred  Thousand  Dollars
     (US$500,000) (the "LOAN");

B.   The Loan is convertible (the  "CONVERSION")  into securities of the Company
     consisting of common shares of the Company with a par value of $0.0001 (the
     "SHARES");

C.   The Lender  understands and acknowledges to the Company that this Agreement
     is being made pursuant to an exemption (the  "EXEMPTION") from registration
     provided by Section 4(2) of the United  States  Securities  Act of 1933, as
     amended  (the  "SECURITIES  ACT")  and  Rule  903  of  Regulation  S of the
     Securities Act for the private offering of securities; and

D.   The Company desires to borrow funds from Lender on the terms and conditions
     set forth in this Agreement.

NOW THEREFORE  THIS  AGREEMENT  WITNESSES  that in  consideration  of the mutual
covenants  and  agreements  herein  contained,  the  receipt  of which is hereby
acknowledged  by each of the parties  hereto,  the parties  hereto  covenant and
agree each with the other (the "AGREEMENT") as follows:

1.   REPRESENTATIONS AND WARRANTIES OF THE LENDER

1.1  The Lender  represents  and warrants to, and  covenants and agrees with the
     Company that:

     (a)  the Lender  makes the Loan to the Company and  acquires the Shares and
          Conversion  Right  (both  as  defined  herein)  in  reliance  upon the
          Exemption from registration provided by Section 4(2) of the Securities
          Act and Rule 903 of Regulation S of the Securities Act for the private
          offering of securities;

     (b)  the Lender is eligible to make the Loan to the Company and acquire the
          Shares and Conversion Right in the Company under Regulation S, and all
          statements  set forth in the  Declaration of Regulation S Eligibility,
          attached  hereto as 0, are true and  correct and may be relied upon by
<PAGE>
          the Company; further, all information,  representations and warranties
          contained in this Agreement,  or that have been otherwise given to the
          Company,  are correct and complete as of the date  hereof,  and may be
          relied upon by the Company;

     (c)  the  Lender  is aware of the  significant  economic  and  other  risks
          involved in making the Loan to the Company and in acquiring the Shares
          and acquiring and/or exercising the Conversion Right;

     (d)  the Lender has  consulted  with its own  securities  advisor as to its
          eligibility  to acquire the Shares and  acquire  and/or  exercise  the
          Conversion  Right  under  the  laws  of  its  home   jurisdiction  and
          acknowledges  that  the  Company  has  made no  effort  and  takes  no
          responsibility  for  the  consequences  to the  Lender  as a  non-U.S.
          investor  acquiring  the Shares  and this  Conversion  right  and,  in
          particular, in purchasing U.S.-based securities upon exercise, if any,
          of the Conversion Right;

     (e)  no federal or state  agency has passed  upon,  or make any  finding or
          determination  as to the fairness of this  investment,  and that there
          have been no federal or state agency  recommendations  or endorsements
          of the investment made hereunder;

     (f)  the Lender acknowledges that:

          (i)  there are substantial restrictions on the sale or transferability
               of any Shares acquired upon exercise of the Conversion  Right and
               understands  that,  although the Company is a reporting  company,
               the Lender is,  upon  acquiring  the Shares upon  exercising  the
               Conversion Rights, purchasing unregistered securities;

          (ii) the Lender may not be able to liquidate  this  investment  in the
               event of any financial emergency and will be required to bear the
               economic risk of this investment for a lengthy or even indefinite
               period of time;

          (iii)the Company is not contractually  obligated to register under the
               Securities  Act  any  Shares  acquired  upon an  exercise  of the
               Conversion Right; and

          (iv) any Shares acquired by the Lender upon exercise of the Conversion
               Right  may  never  be  sold  or  otherwise   transferred  without
               registration  under the Securities  Act, unless an exemption from
               registration is available.

     (g)  the  Lender,  alone or with its  advisor,  has  enough  knowledge  and
          experience  in financial  and  business  matters to make it capable of
          evaluating the merits and risks of investing in the Company;

     (h)  the Lender  makes the Loan to the Company and  acquires the Shares and
          the Conversion  Right as principal for its own account and not for the
          benefit of any other person;

     (i)  the Lender  understands that any certificates  representing any Shares
          acquired by the Lender upon exercise of the Conversion Right will have
          a resale legend on them that will read substantially as follows:

                  THE   SECURITIES   COVERED   HEREBY   HAVE  NOT  BEEN
                  REGISTERED  UNDER  THE  SECURITIES  ACT OF  1933,  AS

                                       2
<PAGE>
                  AMENDED ("ACT").  THE SECURITIES  REPRESENTED BY THIS
                  CERTIFICATE  HAVE BEEN ACQUIRED FOR  INVESTMENT,  AND
                  NOT WITH A VIEW TO, OR IN CONNECTION  WITH,  THE SALE
                  OR  DISPOSITION  THEREOF,  AND MAY NOT BE  OFFERED OR
                  SOLD  WITHIN  THE  UNITED  STATES  OR TO OR  FOR  THE
                  ACCOUNT OR THE BENEFIT OF U.S. PERSONS (I) AS PART OF
                  THEIR  DISTRIBUTION  AT ANY  TIME OR  (ii)  OTHERWISE
                  UNTIL ONE YEAR AFTER THE LATER OF THE COMMENCEMENT OF
                  THE OFFERING OF SUCH  SECURITIES  OR THE CLOSING DATE
                  OF THE SALE AND  TRANSFER  THEREOF,  EXCEPT IN EITHER
                  CASE IN ACCORDANCE  WITH  REGULATION S (OR RULE 144A,
                  IF  AVAILABLE)  UNDER THE ACT.  TERMS USED ABOVE HAVE
                  THE MEANING GIVEN TO THEM BY REGULATION S.

     (j)  the Lender has good and  sufficient  right and authority to enter into
          this Agreement and to carry out the transactions  contemplated by this
          Agreement on the terms and conditions contained herein.

1.2  The  representations,  warranties,  covenants and  agreements of and by the
     Lender contained in, or delivered pursuant to, this Agreement shall be true
     at and as of the  Effective  Date and shall remain in full force and effect
     throughout the term of this Agreement.

2.   THE LOAN

2.1  Subject to the terms of this Agreement, the Lender hereby agrees to loan to
     the Company,  and the Company hereby agrees to borrow from the Lender,  the
     sum of up to US$500,000.

2.2  Immediately  following  the execution of this  Agreement,  the Lender shall
     deliver to the Company  $225,000 of the Loan amount by certified  cheque or
     money  order  made  payable  to the  Company,  or by wire  transfer  to the
     Company's  bank account or to the Company's  solicitors  (the  "ADVANCEMENT
     DATE"),  and thereafter  such amounts as may be requested by the Company up
     to the total Loan amount.

2.3  Unless repaid earlier, the Loan shall be payable in full by 5:00 p.m. local
     time in Toronto,  Ontario,  one year from any applicable  Advancement  Date
     (the "DUE DATE"). If such day falls on a Sunday or statutory holiday,  then
     by 5:00 p.m.  local time in Toronto,  Ontario,  on the first  business  day
     after the Due Date.

2.4  The Loan shall bear  interest at the rate of 10% per annum,  payable on the
     Due Date, (the  "INTEREST")  calculated on the principal amount of the Loan
     outstanding.

2.5  The  Company  shall be  entitled to prepay any sum up to the full amount of
     the Loan and  accrued  Interest  then  outstanding  at any  time,  upon the
     payment of such amount and an additional 10% of such amount.

2.6  At any time after an Advancement Date, if the Company has not paid the Loan
     and accrued  Interest in full,  the Lender may by providing  written notice
     (the  "NOTICE") and the  Declaration  attached  hereto as 0 to the Company,
     exercise its rights of  Conversion in respect of either a portion of or the
     total  outstanding  amount of the Loan as of that  date into  Shares of the
     Company (the "CONVERSION RIGHT"), on the following terms:

                                       3
<PAGE>
     (a)  The  number  of  Shares  issuable  under  the  Conversion  Right  (the
          "CONVERSION RATE") shall be determined by dividing (x) that portion of
          the outstanding  principal balance and accrued Interest under the Loan
          on such date that the Lender  elects to convert by (y) the  Conversion
          Price  (as  defined  below)  then in  effect  on the date on which the
          Lender faxes the Notice of conversion,  duly executed,  to the Company
          (the "CONVERSION  DATE").  With respect to partial conversions of this
          Loan,  the Company  shall keep  written  records of the amount of this
          Loan converted as of each Conversion Date.

     (b)  The term "CONVERSION PRICE" shall mean $1.05 per Share.

2.7  Within  seven (7) days of Notice by the Lender  exercising  its  Conversion
     Rights  hereunder,  the Company  shall deliver a Share  Certificate  to the
     Lender representing the number of Shares acquired by the Lender pursuant to
     the Conversion Rate set out in subparagraph 2.7 of this Agreement.

3.   COVENANTS AND AGREEMENTS OF THE LENDER

3.1  The Lender  covenants and agrees with the Company that the Lender shall not
     make  demand  for  payment  of the Loan  prior to the Due  Date,  except as
     otherwise  required  herein,  unless the Loan has become due and payable in
     accordance with the provisions of this Agreement.

3.2  In order to ensure  eligibility  to receive  the  Shares,  the Lender  must
     provide the Declaration attached hereto as 0.

4.   DEFAULT

4.1  If one or more of the following events shall occur, namely:

     (a)  the Company  fails to pay any  Principal or accrued  Interest  amounts
          when due and fails to repay the Loan on the Due Date;

     (b)  the Company  makes an  assignment  for the benefit of its creditors or
          files a petition in bankruptcy or is adjudicated insolvent or bankrupt
          or petitions or applies to any  tribunal  for any  receiver,  receiver
          manager, trustee,  liquidator or sequestrator of or for the Company or
          any of the  Company's  assets or  undertaking,  or the Company makes a
          proposal or compromise  with its creditors or if an  application  or a
          petition  similar  to any of the  foregoing  is made by a third  party
          creditor  and  such   application  or  petition  remains  unstayed  or
          undismissed for a period of thirty (30) days;

     (c)  an order of  execution  against any of the  Company's  assets  remains
          unsatisfied for a period of ten (10) days;

     (d)  the  Company  fails to observe  and  comply  with any  material  term,
          condition  or provision  of this  Agreement or any other  agreement or
          document delivered  hereunder,  and such failure continues  unremedied
          for a period of thirty (30) days;

     (e)  any representations,  warranties, covenants or agreements contained in
          this Agreement or any document  delivered to the Lender  hereunder are
          found to be untrue or incorrect as at the date thereof; or

                                       4
<PAGE>
     (f)  any  lender  (including  the  Lender)  of  any  mortgage,   charge  or
          encumbrance  on any of  the  Company's  assets  and  undertaking  does
          anything   to  enforce  or  realize  on  such   mortgage,   charge  or
          encumbrance;

          then the Loan to the date of such default shall,  at the option of the
          Lender,  immediately  become  due  and  payable  without  presentment,
          protest or notice of any kind, all of which are waived by the Company.

5.   INDEPENDENT LEGAL ADVICE

5.1  The Lender acknowledges that:

     (a)  Macdonald   Tuskey,   Corporate  and   Securities   Lawyers   received
          instructions from the Company and does not represent the Lender;

     (b)  the Lender has been  requested  to obtain  its own  independent  legal
          advice on this Agreement prior to signing this Agreement;

     (c)  the Lender has been given  adequate time to obtain  independent  legal
          advice;

     (d)  by  signing  this  Agreement,   the  Lender  confirms  that  it  fully
          understands this Agreement; and

     (e)  by signing this Agreement  without first obtaining  independent  legal
          advice,  the  Lender  waives  its  right to obtain  independent  legal
          advice.

6.   GENERAL

6.1  For the purposes of this Agreement, time is of the essence.

6.2  The parties hereto shall execute and deliver all such further documents and
     instruments  and do all such acts and things as may either  before or after
     the  execution of this  Agreement be  reasonably  required to carry out the
     full intent and meaning of this Agreement.

6.3  This Agreement  shall be construed in accordance with the laws of the State
     of Nevada.

6.4  This Agreement may be assigned by the Lender subject to any assignee making
     requisite  representations  to meet  applicable  securities law exemptions;
     this Agreement may not be assigned by the Company.

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

6.6  All notices,  requests,  demands or other communications hereunder shall be
     in  writing  and shall be "deemed  delivered"  to a party on the date it is
     hand  delivered to such party's  address  first above  written,  or to such
     other address as may be given in writing by the parties hereto.

                            (Execution Page Follows)

                                       5
<PAGE>
IN WITNESS WHEREOF the parties have hereunto set their hands effective as of the
date first above written.

AMERICAN PARAMOUNT GOLD CORP.

Per:
    --------------------------------------------
    Authorized Signatory

MONACO CAPITAL INC.

Per:
    --------------------------------------------
    Authorized Signatory

                                       6
<PAGE>
                                   SCHEDULE A

                     DECLARATION OF REGULATION S ELIGIBILITY

Regulation S of the Securities Act is available for the use of non-U.S.  Persons
only. This Declaration must be answered fully and returned to AMERICAN PARAMOUNT
GOLD CORP. to ensure the Company is in compliance  with the Securities  Act. All
information will be held in the strictest  confidence and used only to determine
investor status.  No information will be disclosed other than as required by law
or regulation,  other demand by proper legal process or in litigation  involving
the  company  or  its  affiliates,  controlling  persons,  officers,  directors,
partners, employees, attorneys or agents.

I, ON BEHALF OF MONACO CAPITAL INC. ("MONACO"), HEREBY AFFIRM AND DECLARE THAT:

1.   Monaco is not a resident of the United States of America.

2.   Monaco is not  purchasing  securities  for the benefit of a resident of the
     United States of America.

3.   Monaco is not purchasing  securities in the name of a company  incorporated
     in  the  United  States  of  America  or  for  the  benefit  of  a  company
     incorporated in the United States of America.

4.   Monaco  is not  purchasing  securities  in my  capacity  as  Trustee  for a
     U.S.-based Trust.

5.   Monaco is not  purchasing  securities  in my  capacity  as the  Executor or
     Administrator of the Estate of a U.S. resident.

6.   Monaco is not a U.S.  resident  purchasing  securities  through a brokerage
     account located  outside of the United States of America,  nor am I using a
     non-U.S.  brokerage  account  to  purchase  securities  for the  benefit of
     individuals  or corporate  entities  resident  within the United  States of
     America.

7.   Monaco  is not  purchasing  the  securities  in an  attempt  to  create  or
     manipulate a U.S. market.

8.   Monaco is purchasing  the  securities as an investment  and not with a view
     towards resale.

9.   I will only resell the securities to other non-U.S. residents in accordance
     with Rule 905 of Regulation S, or to U.S.  residents in accordance with the
     provisions  of Rule 144  following  the  expiration  of six months from the
     Advancement  Date,  as  defined in the  Convertible  Loan  Agreement  dated
     concurrently herewith.

10.  Monaco is permitted to purchase the  securities  under the laws of its home
     jurisdiction.

11.  I understand that if I knowingly and willingly make false  statements as to
     my eligibility to purchase or resell  securities  under Regulation S, I may
     become subject to civil and criminal  proceedings being taken against me by
     the United States Securities and Exchange Commission.

                                         ---------------------------------------
DATED: _____________, 2010               Signature

                                         ---------------------------------------
                                         Print Name:
                                         Authorized Signatory

                                       7Exhibit 10.1

                            PROPERTY OPTION AGREEMENT

THIS  made and entered into as of the ___ day of __________, 2010.

BETWEEN:

          JOHN AND MARIE BRADY, 1227 Holland Road, Sudbury, Ontario, P3A 3R1;

          (herein "Optionors")

                                                               OF THE FIRST PART

AND:

          WIDESCOPE  RESOURCES INC., a company having an office at Suite 208-828
          Harbourside Drive, North Vancouver, British Columbia, V7P 3R9

          (herein "Optionee")

                                                              OF THE SECOND PART

WHEREAS the Optionors have represented that they are the sole beneficial  owners
in and to those mineral  claims in Ontario (the  "Claims") as more  particularly
described in Schedule "A" attached  hereto and  collectively  referred to as the
Post Creek and Post Creek East Properties;

AND WHEREAS the Optionors,  subject to the Net Smelter  Royalty  reserved to the
Optionors and the obligations under section 10(g) hereof, now wishes to grant to
the Optionee the exclusive  right and option to acquire an undivided 100% right,
title and interest in and to the Claims on the terms and conditions  hereinafter
set forth;

NOW THEREFORE THIS AGREEMENT  WITNESSETH THAT in  consideration of the premises,
the  mutual  covenants  herein  set forth and the sum of One  Dollar  ($1.00) of
lawful  money of Canada now paid by the Optionee to the  Optionors  (the receipt
whereof is hereby acknowledged),  the Parties hereto do hereby mutually covenant
and agree as follows:

1. Definitions

The following words, phrases and expressions shall have the following meanings:

     (a)  "After  Acquired  Properties"  means  any  and all  mineral  interests
          staked, located,  granted or acquired by or on behalf of either of the
          parties  hereto  during  the  currency  of this  Agreement  which  are
          located,  in whole or in part, within five kilometres of the perimeter
          of the Claims;
<PAGE>
                                      -2-

     (b)  "Expenditures"  includes  all  direct  or  indirect  expenses  [net of
          government incentives and net of payments to the Optionors pursuant to
          Section 4 hereof] of or incidental to Mining Operations  provided that
          such  expenses  must relate to work on the Claims as is  acceptable to
          the MNDM for the purposes of keeping the Claims in good standing.  The
          certificate  of the  Controller  or  other  financial  officer  of the
          Optionee,  together  with a statement of  Expenditures  in  reasonable
          detail shall be prima facie evidence of such Expenditures;

     (c)  "Facilities" means all mines and plants, including without limitation,
          all pits,  shafts,  adits,  haulageways,  raises and other underground
          workings, and all buildings, plants, facilities, and other structures,
          fixtures, and improvements,  and all other property,  whether fixed or
          moveable,  as the same may exist at any time in, or on the  Claims and
          relating to the operator of the Claims as a mine or outside the Claims
          if for the exclusive benefit of the Claims only;

     (d)  "Force  Majeure" means an event beyond the  reasonable  control of the
          Optionee that  prevents or delays it from  conducting  the  activities
          contemplated  by this  Agreement  other  than the  making of  payments
          referred to in Section 0 herein.  Such events shall include but not be
          limited  to acts of God,  war,  insurrection,  action or  inaction  of
          governmental   agencies,   inability  to  obtain  any   environmental,
          operating or other  permits or approvals,  authorizations  or consents
          and inclement weather conditions;

     (e)  "Mineral  Products"  means the  commercial  end products  derived from
          operating the Claims as a mine;

     (f)  "Mineral  Rights"  means the right to all minerals on, in or under the
          Claims;

     (g)  "Mining Operations" includes:

          (i)  every  kind of work done on or with  respect to the Claims or the
               mineral products  derived  therefrom by or under the direction of
               the Optionee; and

          (ii) without  limiting the generality of the  foregoing,  includes the
               work  of  assessment,  geophysical,  geochemical  and  geological
               surveys, studies and mapping, investigating, drilling, designing,
               examining  equipping,   improving,   surveying,   shaft  sinking,
               raising,  cross-cutting  and drifting,  searching  for,  digging,
               trucking,  sampling,  working and  procuring  minerals,  ores and
               metals,  in surveying and bringing any mineral claims to lease or
               patent,  in  doing  all  other  work  usually  considered  to  be
               prospecting,   exploration,  development,  a  feasibility  study,
               mining work,  milling,  concentration,  bonification  or ores and
               concentrates, as well as the separation and extraction of Mineral
               Products;

     (h)  "MNDM" means the Ontario Ministry of Northern Development and Mines;

     (i)  "Net  Smelter  Royalty"  means that net smelter  royalty as defined in
          Section 0 hereof;
<PAGE>
                                      -3-

     (j)  "Option"  means the option granted by the Optionors to the Optionee to
          acquire,  subject to the Net Smelter Royalty reserved to the Optionors
          and the  obligations  under section 10(g)  hereof,  an undivided  100%
          right, title and interest in and to the Claims;

     (k)  "Option  Period"  means the period from the date hereof to the date at
          which the Optionee has performed its  obligations  to acquire its 100%
          interest  in the Claims as set out in Section 0 hereof  subject to the
          Net Smelter  Royalty  reserved to the  Optionors  and the  obligations
          under section 10(g) hereof; and

     (l)  "Claims" means the mineral  claims  described in Schedule "A" together
          with  such  further  claims  contiguous  to the  claims  described  in
          Schedule "A" as the parties  hereto have mutually  agreed to be staked
          so as to become subject to the Option.

2. Headings

Any heading,  caption or index hereto shall not be used in any way in construing
or interpreting any provision hereof.

3. Singular, Plural

Whenever the singular or masculine or neuter is used in this Agreement, the same
shall be construed as meaning plural or feminine or body politic or corporate or
vice versa, as the context so requires.

4. Option

The  Optionors  hereby grant to the Optionee  the sole and  exclusive  right and
option (the "Option") to earn a 100% interest in the Claims,  subject to the Net
Smelter  Royalty  reserved to the  Optionors and the  obligations  under section
10(g) hereof, exercisable as follows:

     (a)  the Optionee paying the sum of $12,500 to the Optionors by way of cash
          and issuing  400,000  common  shares of the Optionee to the  Optionors
          forthwith upon execution of this Agreement (the "Execution Date");

     (b)  on or before that date which is 12 months following the Execution Date
          the  Optionee  incurring  $15,000  of  Expenditures,  paying a further
          $30,000  to the  Optionors  and  issuing  to the  Optionors  a further
          300,000 common shares of the Optionee;

     (c)  on or before that date which is 24 months following the Execution Date
          the Optionee,  incurring a further $15,000 of  Expenditures,  paying a
          further  $50,000  to the  Optionors  and  issuing to the  Optionors  a
          further 300,000 common shares of the Optionee;

     (d)  on or before that date which is 36 months following the Execution Date
          the Optionee  incurring a further $15,000 of Expenditures and paying a
          further $50,000 to the Optionors; and
<PAGE>
                                      -4-

upon the Optionee having satisfied the obligations set forth above, the Optionee
shall be deemed to have exercised the Option (the "Exercise  Date") and shall be
entitled to an  undivided  100% right,  title and  interest in and to the Claims
with the full right and authority to equip the Claims for production and operate
the Claims as a mine  subject to the rights of the  Optionors to the Net Smelter
Royalty  and subject to the  obligations  under  section  10(g)  hereof.  Always
provided that if any of the  obligations set forth above are not satisfied on or
before the date  stipulated,  the Optionee shall without losing any rights under
this Agreement have a further thirty (30) days to satisfy any such obligation.

In connection with the incurring of the Expenditures and as a condition thereof,
the  Optionee  agrees to file with the MNDM all eligible  work  performed on the
Claims within 90 days of the completion of each phase of work.

5. Net Smelter Royalty

The transfer of the Mineral  Rights by the Optionors is subject to the Optionors
retaining a 2.5% Net Smelter  Royalty  with respect to the  production  from the
Claims having the following attributes:

     (a)  the terms and  conditions  of the Net Smelter  Royalty shall be as set
          forth in schedule B hereto;

     (b)  the Optionee  shall have the right to repurchase  sixty percent of the
          Net Smelter  Royalty  (1.5%) for  $1,500,000  at any time prior to the
          first anniversary date of the commencement of commercial production on
          the Claims; and

     (c)  the  Optionee  shall be  obligated  to pay advances on the Net Smelter
          Royalty  of $10,000  per  annum,  payable as to $5,000 on August 1 and
          February 1 of each year commencing  August 1, 2013 which amounts,  for
          greater  certainty shall serve to reduce any amounts otherwise payable
          on account of the Net Smelter Royalty.

6. Transfer of Title

Upon  execution of this  Agreement,  the  Optionors  will deliver or cause to be
delivered to the Optionee,  a duly executed  transfer of the Claims in favour of
the Optionee (the  "Optionee  Transfer") to be held in trust by said  solicitors
subject to the terms and  conditions of this  Agreement.  The Optionee  shall be
entitled to record the Optionee Transfer with the appropriate government offices
to effect  transfer  of legal  title of the Claims into its own name at any time
following the Exercise Date provided that in the event the Optionee  Transfer is
recorded the Optionors  shall be entitled to record notice of their  interest in
the Net Smelter Royalty.

7. Assignment

During the Option Term, no party shall sell, transfer,  assign, mortgage, pledge
or otherwise encumber its interest in this Agreement or its right or interest in
the Claims  without the  consent of the other  parties,  such  consent to be not
unreasonably withheld, provided that any party shall be permitted to assign this
Agreement to an  "affiliate"  or  "associate"  as those terms are defined in THE
<PAGE>
                                      -5-

BUSINESS  CORPORATIONS  ACT  (British  Columbia).  It will be a condition of any
assignment  under this Agreement that such assignee shall agree in writing to be
bound by the terms of this Agreement applicable to the assignor.

The Optionee  shall have the right at any time during the term of this Agreement
to relinquish  its rights to earn an interest in one or more of the Claims or to
reduce the size of one or more of the  Claims,  in  accordance  with the laws of
Ontario,  by providing  written  notice to the  Optionors.  Pursuant to any such
relinquishment  the Claims  relinquished  shall be returned to the Optionor with
sufficient work applied to them such that they are in good standing for a period
of  twelve  (12)  months  from the date of  relinquishment.  Following  any such
relinquishment  or reduction in size,  the Optionee  will have no  obligation to
incur any further exploration and development expenditures on the portion of the
Property relinquished or, in the case of a claims that has been reduced in size,
on the portion of such claim that has been dropped.

8. Termination

This Agreement shall forthwith terminate in circumstances where:

     (a)  the  Optionee  fails  to  make  the  payments  for or  carry  out  the
          Expenditures required in Sections 0 of this Agreement on or before the
          dates  set out  herein  provided  that,  in  circumstances  where  the
          Optionee  is  prevented  from  carrying  out  any of the  Expenditures
          contemplated  in  Sections 0 prior to the dates set out therein due to
          Force Majeure,  then the Optionee  shall  forthwith give the Optionors
          written notice of the  commencement  and termination of the said Force
          Majeure  and  thereafter  such  dates  shall be  deemed  to have  been
          extended by the period of time during which the Force Majeure  remains
          in effect;

     (b)  the Optionee  gives 3 months  notice of  termination  to the Optionors
          which it shall be at liberty to do at any time after the  execution of
          this  Agreement  and the  payment  of the amount set forth in clause 0
          hereof;

     (c)  this  Agreement is  terminated in  accordance  with the  provisions of
          section 0 herein; or

     (d)  the parties mutually agree in writing; and

in circumstances where this Agreement  terminates prior to the Exercise Date the
Optionee shall execute all such documents and do all such things as necessary to
transfer legal title to the Claims back to the Optionors.

9. Representations, Warranties and Covenants of the Optionors

The Optionors jointly  represent,  warrant and covenant to and with the Optionee
as follows:

     (a)  neither the execution and delivery of this  Agreement,  nor any of the
          agreements  referred  to  herein  or  contemplated   hereby,  nor  the
          consummation of the transactions  hereby  contemplated  conflict with,
<PAGE>
                                      -6-

          result in the breach of or accelerate the performance required by, any
          agreement to which they are a party;

     (b)  the Claims are  accurately  described  in  Schedule  "A",  are in good
          standing under the laws of the jurisdiction in which it is located and
          are free and clear of all liens,  charges and encumbrances  other than
          those of which the Optionee has been advised in writing;

     (c)  the Claims have been operated  substantially  in  accordance  with all
          applicable  and  environmental  laws  and,  to  the  knowledge  of the
          Optionors there are no environmental conditions existing on the Claims
          to which any  material  remedial  action is required  or any  material
          liability has or may be imposed under applicable environmental law;

     (d)  the  Optionors are the sole  beneficial  owners of the Claims and have
          the  exclusive  right to enter into this  Agreement  and all necessary
          authority to transfer their interest in the Claims in accordance  with
          the terms of this Agreement;

     (e)  no person,  firm or  corporation  has any  proprietary  or  possessory
          interest in the Claims other than the Optionors,  and no person,  firm
          or  corporation  is entitled  to any  royalty or other  payment in the
          nature  of  rent  or  royalty  on  any  minerals,   ores,   metals  or
          concentrates or any other such products removed from the Claims;

     (f)  upon request by the  Optionee,  and at the sole cost of the  Optionee,
          the  Optionors  shall deliver or cause to be delivered to the Optionee
          copies of all  available  maps and other  documents  and data in their
          possession respecting the Claims; and

     (g)  during the currency of this Agreement, the Optionors will:

          (i)  not do any act or thing which would or might in any way adversely
               affect the rights of the Optionee hereunder;

          (ii) not  relinquish  or abandon all or any part of their  interest in
               the Claims;

          (iii)not  mortgage,  pledge or encumber the Claims after the Effective
               Date without the Optionee's prior written consent; and

          (iv) give the Optionee  such access to the  Property,  at all times at
               its own risk and expense, as the Optionee shall determine, acting
               reasonably,  is  necessary to enable it to carry out the terms of
               this Agreement.

10. Representations, Warranties and Covenants of the Optionee

The Optionee represents, warrants and covenants to and with the Optionors that:

     (a)  the Optionee is a company duly organized  validly existing and in good
          standing under the laws of the Province of British Columbia;
<PAGE>
                                      -7-

     (b)  the Optionee has full power and authority to carry on its business and
          to enter into this Agreement and any agreement or instrument  referred
          to or contemplated by this Agreement;

     (c)  neither the execution and delivery of this  Agreement,  nor any of the
          agreements  referred  to  herein  or  contemplated   hereby,  nor  the
          consummation of the transactions  hereby  contemplated  conflict with,
          result in the breach of or accelerate the performance required by, any
          agreement to which it is a party;

     (d)  the  execution  and  delivery  of this  Agreement  and the  agreements
          contemplated  hereby  will not  violate or result in the breach of the
          laws of any  jurisdiction  applicable or pertaining  thereto or of its
          constating documents;

     (e)  this Agreement  constitutes a legal,  valid and binding  obligation of
          the Optionee;

     (f)  the Optionee shall use its reasonable best efforts to limit the resale
          restrictions  to which the common  shares of the Optionee  issuable to
          the  Optionors  pursuant  to Section 0 hereof  would be subject to the
          minimum restrictions provided for under applicable securities laws;

     (g)  both during and after the Option  Period,  the Optionee  will keep the
          Claims in good  standing,  free and clear of all  liens,  charges  and
          encumbrances and in connection therewith shall make all such payments,
          including,  but not  limited  to  taxes  and  filing  fees as shall be
          necessary  and  including  meeting  all of  the  MNDM  minimum  yearly
          assessment work  requirements  and qualified  expenditures  thereof in
          order to keep the Claims in good standing,  failing which the Optionee
          shall take all such steps as shall be necessary to reconvey the Claims
          to the Optionors; and

     (h)  the Optionee  will carry out all Mining  Operations on the Claims in a
          miner-like  fashion and will obtain all  licenses and permits as shall
          be necessary to enable it to carry out the terms of this Agreement.

11. Indemnity and Survival of Representations

The representations and warranties  hereinbefore set out are conditions on which
the parties have relied in entering  into this  Agreement  and shall survive the
acquisition  of any  interest  in the  Claims  by the  Optionee  and each of the
parties will indemnify and save the other harmless from all loss, damage, costs,
actions  and  suits  arising  out of or in  connection  with any  breach  of any
representation,  warranty,  covenant,  agreement or  condition  made by them and
contained in this Agreement.

The  Optionee  agrees to indemnify  and save  harmless  the  Optionors  from any
liability to which it may be subject arising from any Mining Operations  carried
out by the Optionee or at is direction on the Claims.
<PAGE>
                                      -8-

12. Confidentiality

The parties  hereto  agree to hold in  confidence  all  information  obtained in
confidence  in  respect  of the  Claims or  otherwise  in  connection  with this
Agreement  other  than  in  circumstances  where a party  has an  obligation  to
disclose such information in accordance with applicable securities  legislation,
in which case such  disclosure  shall only be made after  consultation  with the
other party.

13. Notice

All  notices,  consents,  demands  and  requests  (in this  Section 0 called the
"Communication") required or permitted to be given under this Agreement shall be
in  writing  and may be  delivered  personally  sent by  telegram,  by  telex or
telecopier or other  electronic means or may be forwarded by first class prepaid
registered  mail to the  parties at their  addresses  first above  written.  Any
Communication  delivered personally or sent by telegram,  telex or telecopier or
other  electronic  means shall be deemed to have been given and  received on the
second business day next following the date of sending. Any Communication mailed
as  aforesaid  shall be  deemed to have been  given  and  received  on the fifth
business day following the date it is posted,  addressed to the parties at their
addresses  first above  written or to such other  address or addresses as either
party may from time to time specify by notice to the other;  provided,  however,
that if there shall be a mail  strike,  slowdown or other labour  dispute  which
might affect delivery of the Communication by mail, then the Communication shall
be effective only if actually delivered.

14. Further Assurances

Each of the parties to this  Agreement  shall from time to time and at all times
do all such further acts and execute and deliver all further deeds and documents
as shall be  reasonably  required  in order  fully to perform  and carry out the
terms of this Agreement.

15. Entire Agreement

The  parties  hereto  acknowledge  that they have  expressed  herein  the entire
understanding  and obligation of this  Agreement and it is expressly  understood
and agreed that no implied covenant,  condition,  term or reservation,  shall be
read into this  Agreement  relating  to or  concerning  any matter or  operation
provided for herein.

16. Proper Law and Arbitration

This Agreement will be governed by and construed in accordance  with the laws of
the Province of British Columbia and the laws of Canada applicable therein.  The
parties hereto hereby  irrevocably  attorn to the  jurisdiction of the Courts of
British  Columbia.  All  disputes  arising  out of or in  connection  with  this
Agreement,  or in respect of any defined legal relationship associated therewith
or derived  therefrom,  shall be  referred  to and  finally  resolved  by a sole
arbitrator  by  arbitration  under the rules of THE  ARBITRATION  ACT of British
Columbia.
<PAGE>
                                      -9-

17. Enurement

This  Agreement  will enure to the  benefit of and be binding  upon the  parties
hereto and their respective successors and permitted assigns.

18. After Acquired Properties

The  parties  covenant  and agree,  each with the other,  that any and all After
Acquired  Properties  shall be  subject  to the  terms  and  conditions  of this
Agreement and shall,  subject to the provisions  hereof, be added to and deemed,
for the purposes hereof,  to be included in the Claims. In this regard any costs
incurred by the Optionee in staking, locating,  recording or otherwise acquiring
any "After Acquired Properties" will be borne by the Optionee.  In circumstances
where the  Optionors  stake,  locate,  record or  otherwise  acquire  any "After
Acquired  Properties"  they shall so notify the Optionee and,  provided that the
Optionee  reimburses the Optionors for all actual costs related thereto,  as set
forth by the Optionors in writing, such After Acquired Properties shall be added
to and deemed, for the purposes hereof, to be included in the Claims.

19. Excess Work Credits

It is acknowledged  that there may be excess work credits (the "Excess Credits")
on file with MNDM in  relation  to the Claims as at the date  hereof and in such
case it is  acknowledged  and agreed  that the  Optionors  retain  title to such
Excess  Credits and may remove or use them as they in their sole  discretion may
decide;  provided  that in removing or using such Excess  Credits the  Optionors
shall always ensure that  sufficient  Excess  Credits  remain in place to ensure
that the Claims  remain in good standing for a period of 12 months from the date
of such removal or use.

20. Default

Notwithstanding  anything  in this  Agreement  to the  contrary  if any party (a
"Defaulting  Party") is in default of any requirement herein set forth the party
affected by such  default  shall give  written  notice to the  Defaulting  Party
specifying the default and the Defaulting  Party shall not lose any rights under
this Agreement, unless thirty (30) days after the giving of notice of default by
the affected party the Defaulting  Party has failed to take reasonable  steps to
cure the default by the  appropriate  performance  and if the  Defaulting  Party
fails within such period to take reasonable steps to cure any such default,  the
affected  party  shall be  entitled to seek any remedy it may have on account of
such default including, without limiting, termination of this Agreement.

21. Technical Data

In circumstances  where this Agreement is terminated prior to the Exercise Date,
the Optionee  shall deliver over to the  Optionors all technical  data and other
documents and information  then in its possession  respecting the Claims and the
Mineral Rights.
<PAGE>
                                      -10-

22. Payment

All references to monies hereunder shall be in Canadian funds.

23. Option Only

This is an option  only and except as herein  specifically  provided  otherwise,
nothing herein contained shall be construed as obligating the Optionee to do any
acts or make any payments hereunder,  and any act or acts or payment or payments
as shall be made hereunder  shall not be construed as obligating the Optionee to
do any further act or make any further payment or payments.

24. Supersedes Previous Agreements

This Agreement  supersedes and replaces all previous oral or written agreements,
memoranda,  correspondence  or other  communications  between the parties hereto
relating to the subject matter hereof.
<PAGE>
                                      -11-

IN  WITNESS  WHEREOF  the  Parties  hereto  have duly  executed  this  Agreement
effective as of the ____ day of _______________, 2010.

WIDESCOPE RESOURCES INC.

Per:
    ---------------------------------------
    Authorized Signatory

-------------------------------------------
JOHN BRADY

-------------------------------------------
MARIE BRADY
<PAGE>
                                  SCHEDULE "A"

                 CLAIMS LIST FOR POST CREEK AND POST CREEK EAST

<TABLE>
<CAPTION>
Township/      Claim            Recording             Claim Due              Work            Total
Area           Number              Date                 Date               Required         Reserve
----           ------              ----                 ----               --------         -------
<S>            <C>            <C>                  <C>                     <C>             <C>
SCHEDULE A FOR POST CREEK: Held by BRADY, JOHN GREGORY (100.00%)

NORMAN         854182          Aug 19, 1985          Aug 19, 2015           400.00          9,788.00
NORMAN         854183          Aug 19, 1985          Aug 19, 2015           400.00                --
NORMAN         854184          Aug 19, 1985          Aug 19, 2015           400.00            470.00
NORMAN         854185          Aug 19, 1985          Aug 19, 2015           400.00                --
NORMAN         854186          Aug 19, 1985          Aug 19, 2015           400.00                --
PARKIN         854571          Nov 25, 1985          Nov 25, 2015           400.00                --
PARKIN         854572          Nov 25, 1985          Nov 25, 2015           400.00          2,594.00
NORMAN         854573          Nov 25, 1985          Nov 25, 2014           282.00         10,964.00
PARKIN         854574          Nov 25, 1985          Nov 25, 2015           400.00                --
NORMAN         864654          Nov 25, 1985          Nov 25, 2015           400.00                --
NORMAN         864655          Nov 25, 1985          Nov 25, 2015           400.00                --
NORMAN         864656          Nov 25, 1985          Nov 25, 2015           400.00                --
NORMAN         894711          May 08, 1986          May 08, 2015           400.00                --
NORMAN         894712          May 08, 1986          May 08, 2015           400.00                --
NORMAN         894713          May 08, 1986          May 08, 2015           400.00                --
NORMAN         894746          May 08, 1986          May 08, 2015           400.00                --
NORMAN         894747          May 08, 1986          May 08, 2015           400.00                --
NORMAN         894748          May 08, 1986          May 08, 2015           400.00         23,470.00
NORMAN        1094824          Apr 24, 1990          Apr 24, 2015           400.00                --
NORMAN        1094825          Apr 24, 1990          Apr 24, 2015           400.00                --
NORMAN        1094826          Apr 24, 1990          Apr 24, 2015           400.00        111,140.00
NORMAN        1094834          Apr 24, 1990          Apr 24, 2015           400.00                --
NORMAN        1094835          Apr 24, 1990          Apr 24, 2015           400.00                --
NORMAN        1198500          Jun 27, 1995          Jun 27, 2015           400.00                --

Total Post Creek: 24                                                     $9,482.00       $158,426.00

Township/      Claim            Recording             Claim Due              Work            Total
Area           Number              Date                 Date               Required         Reserve
----           ------              ----                 ----               --------         -------

SCHEDULE A FOR POST CREEK EAST: Held by BRADY, JOHN GREGORY (100.00%)

NORMAN        1117878          Jan 25, 1991          Jan 25, 2015           400.00                --
NORMAN        1117879          Jan 25, 1991          Jan 25, 2015           400.00                --
NORMAN        1117880          Jan 25, 1991          Jan 25, 2015           400.00                --
NORMAN        1117881          Jan 25, 1991          Jan 25, 2015           400.00                --
NORMAN        1117882          Jan 25, 1991          Jan 25, 2015           400.00                --
NORMAN        1222817          Mar 13, 1997          Mar 13, 2015         1,600.00                --
NORMAN        1222896          Mar 13, 1997          Mar 13, 2015           400.00                --
NORMAN        1222897          Mar 13, 1997          Mar 13, 2015           400.00                --

Total Post Creek East: 8                                                 $4,400.00       $        --
</TABLE>

<PAGE>
                                  SCHEDULE "B"

            TO THAT OPTION AGREEMENT BETWEEN JOHN AND MARIE BRADY AND
             WIDESCOPE RESOURCES INC. DATED ____________ ____, 2010
                            (THE "OPTION AGREEMENT")

                               NET SMELTER ROYALTY
                              TERMS AND CONDITIONS

1. The Net  Smelter  Royalty  shall be equal  to 2.5% Net  Smelter  Returns  (as
hereinafter  defined) (subject to adjustment in accordance with section 5 of the
Option Agreement) from any mine in production or put into production as a result
of commencing commercial production on The Claims.

2. "Net Smelter Returns" means:

     (a)  the actual proceeds  received by the Optionee from any mint,  smelter,
          refinery or other purchaser from the sale of ores,  minerals,  mineral
          substances,  metals (including bullion) or concentrates  (collectively
          "Product") produced from the Claims and sold or proceeds received from
          an insurer in respect of Product,  after  deducting from such proceeds
          the following charges to the extent that they were not deducted by the
          purchaser in computing payments:

          (i)  smelting and refining charges;

          (ii) penalties, smelter assay costs and umpire assay costs;

          (iii)cost of freight  and  handling  of ores,  metals or  concentrates
               from  the  Claims  to  any  mint,  smelter,  refinery,  or  other
               purchaser;

          (iv) marketing costs;

          (v)  costs of insurance in respect of Product;

          (vi) customs duties,  severance tax, royalties,  ad valorem or mineral
               taxes or the like and export and import taxes or tariffs  payable
               in respect of the Product; and

     (b)  if the  Optionee is not the  operator  but holds a net smelter  return
          royalty,  the  same  as the net  smelter  return  royalty  held by the
          Optionee.

3. The Net Smelter Royalty will be:

     (a)  calculated and paid on a quarterly  basis within 45 days after the end
          of each quarter of the fiscal year for the mine (an "Operating Year"),
          based on the Net Smelter Returns for such quarter;
<PAGE>
                                      -2-

     (b)  each  payment  of  Net  Smelter  Royalty  will  be  accompanied  by an
          unaudited   statement   indicating  the  calculation  of  the  Royalty
          hereunder in  reasonable  detail and the Holder will  receive,  within
          three  months of the end of each  Operating  Year,  an annual  summary
          unaudited  statement  (an "Annual  Statement")  showing in  reasonable
          detail the calculation of the Royalty for the last completed Operating
          Year and showing all credits and deductions  added to or deducted from
          the amount due to the Holder;

     (c)  the holder (the "Holder") of the Net Smelter Royalty will have 45 days
          from the time of receipt  of the  Annual  Statement  to  question  the
          accuracy  thereof in writing and,  failing such objection,  the Annual
          Statement will be deemed to be correct and unimpeachable thereafter;

     (d)  if the Annual  Statement  is  questioned  by the  Holder,  and if such
          questions cannot be resolved between the Optionee and the Holder,  the
          Holder  will have 12 months  from the time of  receipt  of the  Annual
          Statement to have such audited, which will initially be at the expense
          of the Holder;

     (e)  the audited Annual  Statement will be final and  determinative  of the
          calculation  of the Royalty for the audited period and will be binding
          on the parties and any  overpayment of Royalty will be deducted by the
          Optionee  from the next  payment of Royalty  and any  underpayment  of
          Royalty will be paid forthwith by the Optionee;

     (f)  the  costs of the  audit  will be borne by the  Holder  if the  Annual
          Statement was accurate  within 1% or overstated the Royalty payable by
          greater  than 1% and will be borne by the  Optionee if such  statement
          understated the Royalty payable by greater than 1%. If the Optionee is
          obligated to pay for the audit it will forthwith  reimburse the Holder
          for any of the audit costs which it had paid;

     (g)  the Holder  will be  entitled to  examine,  on  reasonable  notice and
          during normal business hours, such books and records as are reasonably
          necessary  to verify  the  payment  of the  Royalty to it from time to
          time,  provided however that such  examination  shall not unreasonably
          interfere with or hinder the Optionee's operations or procedures; and

     (h)  if the  Optionee's  interest  in the  Claims is a Net  Smelter  Return
          royalty,  the Optionee's  accounting and reporting  obligations to the
          Holder under this  paragraph 3 will be limited to the delivery of such
          documentation as the Optionee receives from the operator of the Claims
          in respect of the payment by such  operator of Net Smelter  Returns to
          the Optionee.

4.  Notwithstanding  the provisions of section 3 hereof,  the Optionee shall pay
advances  on  account  of the Net  Smelter  Royalty  in the amount of $5,000 per
annum, payable semi-annually on August 1 and February 1 of each year, commencing
as of August 1, 2013,  which amounts when paid shall serve to reduce any amounts
otherwise payable under section 3 hereof.

5. The  determination  of the Royalty  hereunder  is based on the  premise  that
production  will be developed  solely from the Claims.  If the Claims and one or
more other  properties are  incorporated  in a single mining project and metals,
ores  or  concentrates  pertaining  to  each  are not  readily  segregated  on a
practical or equitable  basis,  the allocation of actual  proceeds  received and
<PAGE>
                                      -3-

deductions  therefrom will be negotiated between the parties and, if the parties
fail to agree on such allocation,  such will be referred to arbitration pursuant
to paragraph 5 of this Agreement.  In such  arbitration the arbitrator will make
reference to this Agreement and to practices used in mining  operations that are
of a similar nature.  The arbitrator will be entitled to retain such independent
mining  consultants  as he considers  necessary.  The decision of the arbitrator
will be final and binding on the parties.

6. Any matters in this Agreement which are to be settled by arbitration  will be
subject to the following:

     (a)  any  matter  required  or  permitted  to be  referred  to  arbitration
          pursuant to this Agreement  will be determined by a single  arbitrator
          to be appointed by the parties hereto;

     (b)  any party may refer any such matter to  arbitration  by written notice
          to the other and,  within 10 days after  receipt of such  notice,  the
          parties will agree on the appointment of an arbitrator. No person will
          be appointed as an arbitrator  hereunder  unless such person agrees in
          writing to act;

     (c)  if the  parties  cannot  agree on a single  arbitrator  as provided in
          subparagraph  (b),  either party may submit the matter to  arbitration
          (before a single arbitrator) in accordance with the ARBITRATION ACT of
          the Province of British Columbia (the "Act"); and

     (d)  except as  specifically  provided in this  paragraph,  an  arbitration
          hereunder will be conducted in accordance with the Act. The arbitrator
          will  fix a time and  place in  Vancouver,  British  Columbia  for the
          purpose of hearing the evidence and representations of the parties and
          he will preside over the  arbitration  and  determine all questions of
          procedure  not  provided for under such Act or this  paragraph.  After
          hearing any evidence and representations  that the parties may submit,
          the  arbitrator  will make an award and reduce the same to writing and
          deliver one copy thereof to each of the  parties.  The decision of the
          arbitrator will be made within 45 days after his appointment,  subject
          to any reasonable delay due to unforeseen  circumstances.  The expense
          of the arbitration will be paid as specified in the award. The parties
          agree  that  the  award of the  single  arbitrator  will be final  and
          binding upon each of them and will not be subject to appeal.

7. The holding of the Royalty will not confer upon the holder  thereof any legal
or beneficial  interest in the Claims.  The right to receive a percentage of Net
Smelter Returns as and when due is and will be deemed to be a contractual  right
only.  The right to receive a percentage of Net Smelter  Returns as and when due
will  not be  deemed  to  constitute  the  Holder  the  partner,  agent or legal
representative of the Optionee.

8. The Optionee may, if it is the operator of the Claims,  but will not be under
any duty to, engage in price  protection  (hedging) or speculative  transactions
such as futures contracts and commodity options in its sole discretion  covering
all or part of production from the Claims and, except in the case where Products
are  actually  delivered  and a sale  is  actually  consumed  under  such  price
protection or speculative transactions,  none of the revenues, costs, profits or
losses  from such  transaction  will be taken into  account in  calculating  Net
Smelter Returns or any interest therein;  provided however, that if the Optionee
delivers  Product  under a price  protection  or  speculative  program where the
<PAGE>
                                      -4-

proceeds derived therefrom are less than those that would have been received had
the  Product  been sold at the spot  price in  effect  at the time of sale,  the
Royalty payable to the Holder will be based on such spot price.

9. The Optionee  shall have a Right of First Refusal on the proposed sale by the
Holder of all or part of the Royalty as follows:

     (a)  if the Holder (in this paragraph called the "Offeror") intends to sell
          all or part of the Royalty (in this paragraph the  "Interest") it will
          first give notice in writing to the Optionee (in this paragraph called
          the  "Offeree")  of  such  intention   together  with  the  terms  and
          conditions on which the Offeror intends to sell the Interest;

     (b)  any  communication  of an intention to sell pursuant to this paragraph
          will be in writing  delivered in accordance  with  paragraph 13 hereof
          and will set out fully and clearly all of the terms and  conditions of
          any intended sale and such  communication will be deemed to constitute
          an offer  (the  "Offer")  by the  Offeror  to the  Offeree to sell the
          Interest  to the Offeree on the terms and  conditions  set out in such
          Offer;

     (c)  any Offer  made as  contemplated  in this  paragraph  will be open for
          acceptance  by the  Offeree  for a period  of 60 days from the date of
          receipt of the Offer by the Offeree;

     (d)  if  the  Offeree  accepts  the  Offer  within  the  time  provided  in
          subparagraph  (c), such acceptance will constitute a binding agreement
          of  purchase  and sale  between  the  Offeror  and the Offeree for the
          Interest on the terms and conditions set out in the Offer; and

     (e)  if the Offeree does not accept the Offer  within the time  prescribed,
          the Offeror  may  complete  the sale of the  Interest on the terms and
          conditions   set  out  in  the  Offer  or  on  terms  and   conditions
          substantially  similar to, but no more favourable  than, the terms and
          conditions set out in the Offer, within 90 days from the expiration of
          the right of the  Offeree  to accept  such Offer or the  Offeror  must
          again comply with the provisions of this paragraph.

10. The  operator  of the  Claims,  whether or not it is the  Optionee,  will be
entitled to:

     (a)  make all operational  decisions with respect to the methods and extent
          of mining and processing of ore, concentrate, dore, metal and products
          produced from the Claims;

     (b)  make all decisions relating to sales of such concentrate,  dore, metal
          and products produced; and

     (c)  make all  decisions  concerning  temporary or  long-term  cessation of
          operations.

11. All  capitalized  terms not otherwise  defined herein shall have the meaning
given to them in the Option  Agreement to which these Terms and Conditions  form
Schedule "B".

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00172-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00172-of-00352.parquet"}]]