Document:

EXHIBIT 4.13  

FINANCING AND
ACQUISITION AGREEMENT 

made among 

TECK COMINCO AMERICAN
INCORPORATED 

and 

WHITE KNIGHT RESOURCES
LTD. 

and 

WHITE KNIGHT GOLD
(U.S.) INC. 

in respect of 

the Fye Canyon
Property, Nevada 

Effective as of October
20, 2004 

FINANCING AND PROPERTY
ACQUISITION AGREEMENT 

This Financing and Property
Acquisition Agreement (hereafter “Agreement”) is entered into and effective this
20th day of October 2004 by and between Teck Cominco American Incorporated, a
Washington corporation, (hereafter “TCAI”) of 15918 East Euclid Avenue, Spokane,
Washington 99216-1815, White Knight Resources Ltd., a British Columbia corporation, of 922
— 510 Hastings St. W., Vancouver B.C. Canada V6B 1L8, and White Knight Gold (U.S.)
Inc., a Delaware corporation of Suite 140, 121 Woodland Ave., Reno, Nevada, USA 89523
(hereafter collectively referred to as “WKR”). 

RECITALS 

WHEREAS: 

     (A)    
          WKR is engaged in the acquisition and exploration of mineral properties in the
          State of Nevada; and 

     (B)    
          WKR is desirous of securing funding to support its ongoing acquisition and
          exploration of mineral properties in the State of Nevada and is agreeable to
          providing to TCAI certain rights to earn a direct ownership interest in the Fye
          Canyon and Celt properties located in Nevada as provided for in this Agreement;
          and 

     (C)    
          TCAI is desirous of providing funding to WKR to support its acquisition and
          exploration of mineral properties in the State of Nevada and of securing certain
          rights to earn a direct ownership interest in the Fye Canyon property located in
          Eureka County in the State of Nevada, USA and more particularly described in
          Schedule “A1” (the “Fye Property”) and the Celt
          property located in Eureka County in the State of Nevada, USA and more
          particularly described in Schedule “A2” (the “Celt
          Property”), all as provided for in this Agreement; and 

     (D)    
          Upon and subject to the terms and conditions herein TCAI has agreed to invest
          CDN$2,370,000 in White Knight Resources Ltd. by way of a private placement; and 

     (E)    
          Upon and subject to the terms and conditions herein WKR has agreed to grant TCAI
          an option to earn an initial 51% interest in the Fye Property, portions of which
          are subject to a mining lease and option to purchase agreement dated November
          10, 2003 amongst Donald K. Jennings, White Knight Gold (U.S.) Inc. and White
          Knight Resources Ltd (the “Underlying Agreement” set out in
          Schedule “D”); and 

     (F)    
          Upon TCAI exercising the option with respect to the Fye Property a joint venture
          shall be formed amongst TCAI and WKR; and 

     (G)    
          WKR has agreed to grant TCAI an additional option to increase its interest in
          the Fye Property after the earlier of $8 million in expenditures by the joint
          venture or the delivery of a preliminary feasibility study by the joint venture;
          and 

     (H)    
          WKR has agreed to grant TCAI a right to enter into an option agreement on the
          Celt Property. 

NOW THEREFORE, in
consideration of the premises and for other good and valuable consideration, the receipt
and sufficiency of which is hereby acknowledged, the parties agree as follows: 

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	1.  	   	Initial
Financing  

	1.1  	  	Subject
to TSX Venture Exchange approval under §25 and the execution of a private placement
subscription agreement satisfactory to TCAI that White Knight Resources Ltd. will prepare
and deliver to TCAI, TCAI, either directly or through an assignee, agrees to purchase
from White Knight Resources Ltd. in a private placement one million five hundred thousand
(1,500,000) “Units”, each Unit comprised of one fully paid and
non-assessable Common Share of White Knight Resources Ltd. (with a hold period of no more
than 4 months) and one share purchase warrant (the “Warrants”). Each
warrant shall entitle TCAI, or its assignee, to purchase one additional fully paid and
non-assessable common share of White Knight Resources Ltd. at a price of Canadian two
dollars and fifty cents (CDN$2.50) for a period of one (1) year from and after the
private placement closing date. The private placement closing date shall be as mutually
agreed between the parties, but in no event later than 30 days after WKR notifies TCAI
that it has received TSX Venture Exchange approval under §25.  

	1.2  	  	The
price payable by TCAI, or its assignee, for each Unit will be Canadian one dollar and
fifty eight cents (CDN$1.58) for a total purchase price of Canadian two million three
hundred and seventy thousand dollars (CDN$2,370,000). The purchase price is payable in
full by TCAI, or its assignee, to White Knight Resources Ltd. on the private placement
closing date.  

	2.  	   	Future
Financings  

	2.1  	  	White
Knight  Resources  Ltd.  agrees to grant TCAI the  preferential  right to participate in
each Future          Financing  undertaken by White Knight  Resources  Ltd.  where Future
 Financings  means sales or offers of          sale by White Knight  Resources Ltd. of
shares of its common stock whether by private  placement or public          offerings.
 Future  Financings  do not include  stock options or similar plans or the exercise of
existing          outstanding warrants. 

	  	(a)  	  	At
its election, if at the time of any Future Financing TCAI holds less than ten
          percent (10%) of the outstanding common shares of White Knight Resources Ltd.
on           a fully diluted basis, it shall have the right to participate up to a
maximum of           twenty-five percent (25%) of the value of the Future Financing;  

	  	(b)  	  	At
its election, if at the time of any Future Financing TCAI holds ten percent
          (10%) or more of the outstanding common shares of White Knight Resources Ltd.
on           a fully diluted basis, it shall have the right to participate in any Future
          Financing in an amount sufficient to avoid any dilution of its interest in the
          capital stock of White Knight Resources Ltd.;  

	  	(c)  	  	TCAI
may make such election subject to such conditions as are reasonable in the
          circumstances including that the Future Financing is subscribed to for at least
          80% of the offering. If the level of the offering is subscribed to at a level
of           less than 80% but exceeds the minimum offering then TCAI may reduce the
amount           of its subscription to a percentage amount equal to the percentage that
          TCAI’s original election was of the original “fully subscribed”          offering;  

	  	(d)  	  	With
respect to the private placement referenced in §1 and all Future
          Financings, it shall be the responsibility of White Knight Resources Ltd. to
          comply with all laws, rules, regulations and policies of any applicable
          jurisdictions and all policies and procedures of its listing stock exchange at
          its expense;  

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	  	(e)  	  	White
Knight Resources Ltd. agrees to provide TCAI at least seven (7) business           days
advance written notice of any Future Financing. Said notice shall include           the
intended use of the funds from the Future Financing, the minimum amount
          required to be raised, if any, the intended sources for such funds and all
other           material terms of the Future Financing. The information about a Future
Financing           supplied to TCAI shall not be less than that supplied to other
potential           investors in the Future Financing; and  

	  	(f)  	  	White
Knight Resources Ltd. agrees that TCAI may in its discretion and without           the
prior approval of White Knight Resources Ltd. assign its right to           participate
in Future Financings to any parent, affiliate, subsidiary,           associated, or
related company.  

	2.2  	  	Nothing
in this Agreement shall limit TCAI’s rights to purchase or otherwise acquire shares
or other securities of White Knight Resources Ltd. in addition to the shares or other
securities purchased by TCAI pursuant to this Agreement. However TCAI shall not purchase
shares such that its aggregate interest exceeds 10% of the share capital of White Knight
Resources Ltd. on a fully diluted basis without first seeking prior written approval of
White Knight, such approval not to be unreasonably withheld.  

	2.3  	  	TCAI's
right to participate in Future Financings shall terminate upon the later of the: 

	  	(a) 	  	termination
of the option, or any joint venture formed, with respect to the Fye           Property;
and  

	  	(b) 	  	termination
of the option, or any joint venture formed, with respect to the Celt           Property.  

	3.  	   	Celt
Property  

	3.1  	  	WKR
hereby grants TCAI a right to elect to enter into an option agreement with respect to the
Celt Property on exactly the same terms as those applying to the Fye Property Option
under this Agreement. TCAI may elect to exercise this right by providing notice to WKR on
or before November 1, 2004 and thereafter delivering an agreement to WKR for the Celt
Property encompassing the terms of the Fye Property Option. For clarity no additional
investment with respect to a private placement or otherwise is required for TCAI to
exercise this right.  

	3.2  	  	WKR
covenants, until TCAI’s right under §3.1 expires, not to dispose of any part or
portion of the Celt Property except in accord with the terms of this Agreement or enter
into any agreement or do anything that would create a lien or encumbrance on the Celt
Property except as permitted herein; not to enter into any contract or agreement with
respect to the Celt Property which would in away negatively impact TCAI’s rights to
exercise its Option as provided for herein; and that it will comply with all governmental
requirements and laws respecting WKR’s use and operation of the Celt Property,
including the Environmental Laws.  

	3.3  	  	WKR
represents that it will make the same representations and warranties with respect to the
Celt Property as made with respect to the Fye Property under §19.2.  

	4.  	   	Option  

	4.1  	  	Subject
as hereinafter provided, WKR hereby grants TCAI an option (the “Option”)
to earn an initial 51% undivided right, title and interest in and to the Fye Property.  

Page 4 of 27 

 

	4.2  	  	As
 consideration  for the granting of the Option,  TCAI shall make the following  optional
cash payments,          for an aggregate of $750,000, to White Knight Gold (U.S.) Inc. as
follows: 

	  	(a) 	  	on
the first anniversary of this Agreement, $50,000;  

	  	(b) 	  	on
or before December 31, 2006, an additional $100,000;  

	  	(c) 	  	on
or before December 31, 2007, an additional $250,000; and  

	  	(d) 	  	on
or before December 31, 2008, an additional $350,000.  

	4.3  	  	TCAI
may exercise the Option by incurring  the  following  expenditures  (the  "Expenditures")
 on the Fye          Property: 

	  	(a)  	  	on
or before December 31, 2005, TCAI shall incur a minimum of $500,000 in
          Expenditures (note that, subject only to §25.1, this first amount is a
          guaranteed Expenditure under this Agreement and the balance of the Expenditures
          are optional);  

	  	(b)  	  	on
or before December 31, 2006, TCAI shall incur a minimum of $1,250,000 in
          Expenditures in the aggregate;  

	  	(c)  	  	on
or before December 31, 2007, TCAI shall incur a minimum of $2,500,000 in
          Expenditures in the aggregate; and  

	  	(d)  	  	on
or before December 31, 2008, TCAI shall incur a minimum of $4,000,000 in
          Expenditures in the aggregate.  

	  	
The
amounts required to be spent within the periods referred to in §4.3(a) to §4.3(d)
hereof are cumulative, aggregate amounts and accordingly, all Expenditures incurred in a
particular period, including any excess in the amount of Expenditures required to be
incurred to maintain the Option to the end of such period, shall be carried over and
included in the aggregate amount of Expenditures for the subsequent period.  

	4.4  	  	If
TCAI terminates the Option prior to December 31, 2005 then any shortfall between the
actual Expenditures incurred and the guaranteed Expenditure requirement of $500,000
contemplated in §4.3(a) shall be due and owing in cash within 30 days of the date of
such termination. If that shortfall is not paid by that date it shall accrue interest
from the original date due at a rate of prime, for the period of calculation, as quoted
by the Bank of America, as being charged by it on United States Dollar demand loans to
its most creditworthy domestic commercial customers (the “Prime Rate”) plus 2%,
calculated monthly, until paid.  

	4.5  	  	Upon
TCAI making the cash payments under §4.2 and expending an aggregate of $4,000,000 in
Expenditures under §4.3, TCAI shall forthwith provide WKR written notice of such
Expenditures (the “Earn-in Notice”), which shall include a statement in
reasonable detail evidencing such Expenditures and a technical report on the results
obtained from such Expenditures.  

	5.  	   	Deficiencies
in Expenditures  

	5.1  	  	If
TCAI has not incurred the requisite Expenditures under §4.3 to maintain the Option
in good standing, TCAI may pay to WKR, within 30 days following the Expenditure due date,
the amount of the deficiency and the amount  

Page 5 of 27 

 

	  	
of
such deficiency shall thereupon be deemed to have been Expenditures incurred by TCAI.  

	6.  	   	Expenditures
Defined  

	6.1  	  	“Expenditures” include:  

	  	(a)  	  	all
costs, expenses, charges and outlays, direct and indirect, funded or           incurred
by or on behalf of TCAI on or in respect of the Fye Property from the           date
hereof until the formation of the JV, and thereafter during the term of the           JV
by the Operator, including, without limiting generality, all costs, including
          but not limited to, costs for prospecting, claim staking, tenure obligations,
          maintaining the Underlying Agreement (including cash payments and any royalties
          payable thereunder), taxes, mapping, surveying, permitting, geochemical
surveys,           geophysical surveys, sampling, assaying, trenching, drilling,
geochemical           analyses, road building, drill site preparation, drafting, report
writing,           consultants, all costs related to the preparation of a Feasibility
Study and           production program, all costs spent or incurred directly or
indirectly in           connection with a production program in order to equip the Fye
Property or a           part thereof for commercial production, all costs, incurred or
chargeable,           directly or indirectly, by the Operator in connection with
operating the Fye           Property as a mine and all other project expenditures; and  

	  	(b)  	  	a
fee for administrative services and head office services overhead provided by
          or on behalf of TCAI during the term of the Option and thereafter by the
          Operator and not recovered directly in §6.1(a) above, which charge shall
be           as follows:  

	  	  	(i) 	  	10%
of costs incurred prior to a production decision; and  

	  	  	(ii) 	  	3%
of mine construction costs; and  

	  	  	(iii) 	  	2%
of mine operating costs.  

	  	
The
charges set out in §6.1(b) are intended as a reimbursement of the direct costs for
the time incurred by TCAI’s or the Operator’s, as the case may be, head office
management and support functions in respect of work carried out on or in respect of the
Fye Property. It is intended that TCAI or the Operator, as the case may be, shall not
profit nor suffer loss by virtue of providing the services. This charge shall not be
subject to audit but may be reviewed, in good faith, by the parties from time to time, at
the election of either party.  

	7.  	   	Holding
of the Fye Property  

	7.1  	  	Initially
WKR shall hold title to the Fye Property in trust for the parties, other than those lands
subject to the Underlying Agreement which shall be held in trust for the parties by
Donald K. Jennings. TCAI may register this Agreement against title to the Fye Property.
TCAI may request that WKR and, if so requested, WKR shall promptly execute and deliver to
TCAI a transfer of the portions of the Fye Property held by WKR in recordable form. TCAI
shall then hold such portions of the Fye Property in trust for the parties as their
interests may appear as provided for herein. On the formation of any JV under §11,
the Operator shall then hold such portions of the Fye Property in trust for the parties
as their interests may appear as provided for herein.  

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	8.  	   	TCAI’s
Obligations During the Currency of the Option  

	8.1  	  	During
the currency of the Option TCAI and its employees, agents and contractors shall have the
right and option, as between TCAI and WKR, to:  

	  	(a)  	  	enter
upon the Fye Property;  

	  	(b)  	  	have
exclusive and quiet possession thereof;  

	  	(c)  	  	do
such prospecting, exploration, development or other mining work thereon and
          thereunder as TCAI in its sole discretion may consider advisable and including,
          without limitations, the removal of ores, minerals and metals from the Fye
          Property but only for the purpose of testing; and  

	  	(d)  	  	bring
upon and erect upon the Fye Property such facilities and workings (whether
          fixed or moveable) as TCAI may consider advisable.  

	8.2  	  	During
the currency of the Option TCAI shall, prior to January 31st of each year
beginning in 2006, deliver to WKR a statement showing in reasonable detail the
Expenditures incurred by TCAI during the period, under §4.3, last expired and the
aggregate Expenditures incurred to the end of such period. WKR shall have 45 days from
the time of receipt of such statement to question the accuracy thereof in writing,
failing which such statement shall be deemed to be correct and unimpeachable thereafter.
If WKR questions any statement delivered pursuant to §8.2, WKR shall have 3 months
from the time of delivery of any statement to request that TCAI’s independent
external auditors review the accounts and provide their audit opinion as to the
correctness of the statement, and:  

	  	(a)  	  	the
audit opinion shall be final and determinative of the amount of Expenditures
          incurred for the audited period; provided that, if such audit opinion discloses
          a deficiency in the amount of Expenditures required to be incurred to maintain
          its Option in good standing, TCAI may pay to WKR the amount of such deficiency
          within 15 days following receipt of notice of such audited results, whereupon
          such amount shall be deemed to have been Expenditures incurred during the
          audited period; and  

	  	(b)  	  	the
costs of the audit opinion shall be borne by WKR if TCAI’s statement
          understated Expenditures or if it overstated Expenditures by not more than 3%
          and shall be borne by TCAI if such statement overstated Expenditures by greater
          than 3%.  

	8.3  	  	During
the currency of the Option TCAI shall: 

	  	(a)  	  	keep
the Fye Property free and clear of all liens, charges and encumbrances           arising
from its operations hereunder (except liens for taxes not yet due, other
          inchoate liens and liens contested in good faith by TCAI) and shall proceed
with           all diligence to contest and discharge any such lien that is filed and
shall           keep the Fye Property in good standing by the doing and filing of all
necessary           work and by the doing of all other acts and things and making all
other payments           including payments under the Underlying Agreement (said payments
being           considered Expenditures), which may be necessary in that regard, in
connection           with the above and while WKR holds title to the Fye Property WKR
shall provide           timely support to TCAI in the processing of filings and payments
on the Fye           Property;  

Page 7 of 27 

 

	  	(b)  	  	permit
WKR, or its representatives duly authorized by it in writing, at their           own risk
and expense, access to the Fye Property at all reasonable times and           access to
all factual records in the possession of TCAI, its servants and agents           in
connection with work done on or with respect to the Fye Property;  

	  	(c)  	  	furnish
WKR with annual reports by January 31st of each year during           the
conduct of the work carried out by TCAI on or with respect to the Fye           Property
and results obtained, together with regular progress updates, during           periods of
active work, on the status of exploration, and immediately or as soon           as
practicable furnish WKR with any results obtained which reasonably may be
          considered to be material to WKR for the purpose of its meeting applicable
          public disclosure requirements;  

	  	(d)  	  	conduct
all work on or with respect to the Fye Property in a manner consistent           with
good exploration, engineering and mining practices and in compliance with           all
applicable laws, rules, orders and regulations, and indemnify and save WKR
          harmless from any and all claims, suits or actions made or brought against it
as           a result of work done by or on behalf of TCAI on or with respect to the Fye
          Property;  

	  	(e)  	  	provide
insurance in accordance with TCAI’s ongoing business practices.           Such
insurance shall include, but shall not be limited to, comprehensive general
          liability, with coverage of at least $5 million and automobile liability
          insurance, having a limit of not less than $2 million inclusive for any one
          occurrence, and insuring against claims for bodily injury, including death, and
          for property damage arising out of the use of TCAI ‘s owned, leased and
          non-owned vehicles for the performance of any activities under this Agreement.
          TCAI shall pay the full deductible amounts if there is a claim against any
          policy of insurance to be provided by TCAI under §8.3(e) of this
Agreement;  

	  	(f)  	  	be
responsible for providing health, accident, and employment insurance and           worker’s
compensation coverage for its personnel; and  

	  	(g)  	  	indemnify
and save harmless WKR and its respective directors, officers,           employees and
agents from and against any liability whatsoever for any loss           (other than loss
of profits), damage, claim, demand, lien, action or suit,           charge or expense,
including legal fees, on account of injury to or the death of           any person,
damage to or loss of any property, or infringement or interference           of patent,
any of which arises directly or indirectly from TCAI’s           negligence or
willful misconduct in relation to or connection with any work done           by or for
TCAI on or in respect of the Fye Property save and except that TCAI           shall not
be liable for special or consequential damages, or indirect damages or           for acts
or omissions of WKR. Any other liabilities will be shared by the           parties in
proportion to their interest in the Fye Property.  

	8.4  	  	Prior
to the Participation Date TCAI may recommend the abandonment of up to 20% of the initial
lands comprising the Fye Property in a given year. If WKR, within 30 days of receiving a
notice of abandonment, notifies TCAI that they wish to acquire the claims in question,
then TCAI shall cause a transfer of the claims to be abandoned to WKR, with at least 90
days good standing from the date of TCAI’s notice recommending the abandonment, as
soon as practicable thereafter and such claims shall cease to form part of the Fye
Property or be subject to this Agreement.  

Page 8 of 27 

 

	9.  	   	TCAI’s
Obligations on Termination  

	9.1  	  	TCAI
may terminate the Option at any time prior to the delivery of the Earn-in Notice by
giving notice in writing to that effect to WKR. Subject to §5.1, the Option shall
also terminate if TCAI fails to make the requisite cash payments under, and before the
dates set forth in, §4.2 or fails to make the requisite Expenditures under, and
before the dates set forth in §4.3. On termination, the Option shall be of no
further force or effect and TCAI shall have no interest in the Fye Property. However on
termination of the Option TCAI shall:  

	  	(a)  	  	leave
the Fye Property in good standing with respect to the filing of assessment           work
for a period of 90 days from the date of termination, free and clear of all
          liens, charges and encumbrances arising from operations hereunder (except for
          taxes not yet due, other inchoate liens and liens contested in good faith by
          TCAI during the period of such contest, such liens to be removed by TCAI if
such           contest is unsuccessful) and in good standing with respect to all
applicable           environmental, safety and other statutory rules, regulations and
orders arising           from or applicable to work done on the Fye Property by TCAI;  

	  	(b)  	  	if
the Agreement is terminated after June 1st in any given year TCAI
          shall be responsible for making payment with respect to the BLM and county
          holding costs for the Property that are due in such calendar year;  

	  	(c)  	  	upon
a written request made by WKR within 60 days of termination of the Option,
          remove from the Fye Property, within 180 days of said request, such equipment,
          facilities and workings (whether fixed or moveable) brought on to, or erected
on           the Fye Property by TCAI, or arising from work done on the Fye Property by
TCAI;           and  

	  	(d)  	  	deliver
to WKR, within 60 days of a written request made by WKR, a comprehensive           report
on all work carried out by TCAI on the Fye Property (limited to factual           matters
only), together with all drill cores, assay samples, copies of all maps,           drill
logs, assay results and other factual technical data compiled by TCAI with
          respect to the Fye Property which were not previously delivered to WKR.  

	  	(e)  	  	if
TCAI holds title to the Fye Property, promptly execute and deliver to WKR a
          transfer of the Fye Property in recordable form.  

	10.  	   	Interest
to be Earned by TCAI  

	10.1  	  	Upon
TCAI exercising the Option, by making the cash payments referred to in §4.2 within
the time referred to therein, incurring the Expenditures referred to in §4.3 within
the time referred to therein or paying any deficiencies as provided for in §5.1, and
delivering to WKR the Earn-in Notice under §4.5, (the “Participation Date”)
TCAI shall have earned a 51% undivided right, title and interest in and to the Fye
Property and WKR shall retain a 49% interest in the Fye Property and the parties shall
form a joint venture under §11.  

	11.  	   	Formation,
Funding and Dilution of the JV  

	11.1  	  	On
the Participation Date, a joint venture (“JV”) shall be formed between
TCAI and WKR with the JV interests being 51% TCAI – 49% WKR and the JV shall be
governed by the terms outlined under §11 through §16.  

Page 9 of 27 

 

	11.2  	  	On
the Participation Date each parties initial deemed Expenditure for the purposes of the JV
shall be based on their pro rata share of total Expenditures (“TE”),
where TE shall be $4,000,00 in the case of TCAI and $3,840,000 for WKR. Subsequent to the
Participation Date, the respective interests of the parties shall be determined from time
to time as being equal to the product obtained by:  

	  	(a)  	  	multiplying
100% by;  

	  	(b)  	  	the
respective parties initial deemed Expenditures on the Participation Date           plus
the amount of the respective parties’ contributions to Expenditures
          subsequent to the Participation Date;  

	  	(c)  	  	divided
by the TE plus the amount of all contributions to Expenditures made           subsequent
to the Participation Date by all parties.  

	11.3  	  	From
formation of the JV each party shall be liable for its pro rata share of costs in
accordance with its interest in the JV.  

	11.4  	  	If
a party elects not to contribute its pro rata share of Expenditures of a work program or
Feasibility Study (and the other party contributes to the shortfall thereby created), the
interests of the parties shall be adjusted according to §11.2 so that each party
holds an interest proportionate to its deemed and actual contributions. If any party
dilutes its interest to less than 10% in the JV, its interest shall then be converted to
a 2% net smelter returns royalty (the “NSR”), as further defined in
Schedule “C”. However, if any program is completed with less than 80% of
the budgeted Expenditures having been incurred, the non-contributing party may
contribute, within 30 days, its proportionate share of the actual Expenditures incurred
and thereby maintain its interest.  

	11.5  	  	A
party shall be entitled to surrender its interest to the other party on notice to it. A
surrender of interest shall not release a party from liabilities accrued prior to the
effective surrender date. Should the other party not consent to receive the interest
offered for surrender under this §11.5 then the JV shall be terminated and the
assets shall be liquidated or sold and the assets or proceeds from the sale thereof
distributed to the parties, net of liabilities hereunder or related thereto, in
accordance with their interests in the JV. Each party shall be responsible for its share
of all costs and expenses related to such termination and liquidation.  

	11.6  	  	Upon
payment for Expenditures incurred by the Operator under the JV a party contributing to
those Expenditures shall be entitled to all tax benefits with respect thereto.  

	12.  	   	Management
Committee, Operator and Programs Under the JV  

	12.1  	  	Upon
the formation of a JV, a management committee (the “Management Committee”)
shall be formed to manage all exploration, development and operating programs on the Fye
Property. The Management Committee shall be comprised of two representatives from each
party having an interest in the Fye Property. Each party’s representatives shall
have a collective vote equal to the interest held by the party they represent and the
Operator shall have the deciding vote in the case of a tie.  

	12.2  	  	Except
as otherwise specifically provided for herein to the contrary, TCAI shall be the initial
operator (the “Operator”) of all programs on the Fye Property, and shall
remain as Operator so  

Page 10 of 27 

 

	  	
long
as TCAI holds at least a 51% interest in the JV. If TCAI holds less than a 51% interest
in the JV WKR shall be entitled to elect to become Operator.  

	12.3  	  	Prior
to a production decision the Operator shall propose draft work programs, by February 28th of
each year, for Management Committee approval and carry out approved programs. Any
Feasibility Study or Preliminary Feasibility Study shall be prepared under a separate
program and budget.  

	12.4  	  	Each
party may, within 30 days of Management Committee approval, elect to contribute its
proportionate share of the Expenditures required to conduct each program. If a party (for
the purposes hereof a “Non-Contributor”) elects or is deemed to have
elected not to contribute its cost share of a program, each other party (for the purposes
hereof a “Contributor”) that has elected to contribute its cost share of
the program may give notice in writing to the Operator and the Non-Contributor stating
that it will contribute, in addition to its own cost share, the cost share of the
Non-Contributor.  

	12.5  	  	Except
as provided for in §12.7, the Operator will not proceed with any program which is
not fully subscribed. If the parties fully subscribe to a program, the Operator will
proceed with such program.  

	12.6  	  	The
Operator may invoice for exploration Expenditures incurred or to cash call reasonably in
advance of requirements. If a party has approved a program and does not pay the amount
invoiced for said program within 30 days, the Operator may demand payment. If payment is
not made within 30 days of demand, and subject to §12.7, the other party may elect
to either:  

	  	(a)  	  	advance
all of the unpaid cost share of the defaulting party. If the other party
          advances such unpaid share, then they or it will be entitled to recover the
          amount so paid, together with interest thereon from the date so paid at a per
          annum rate equal to Prime Rate plus 4%. The party making the advance shall have
          a lien against the defaulting party’s interest, which it may enforce by
          selling the defaulting party’s interest; or  

	  	(b)  	  	pay
the amount of the defaulted payment and the defaulting party shall be deemed           to
have incurred dilution at a rate equal to twice the standard dilution rate,
          their interest shall be adjusted and the deemed total Expenditures of each
party           shall be adjusted to reflect the interest held; provided that if a party’s
          interest is reduced to less than 10% it shall be deemed to have assigned and
          conveyed its interest to the other party and be entitled to a 2% NSR.  

	12.7  	  	If
in any year there is no approved program and circumstances are such that the Operator
must incur costs in order to maintain tenure to the Fye Property, to satisfy contractual
obligations or obligations imposed by law or to prevent waste or protect life and
property, the Operator shall be entitled to propose a program (the “mandatory
program”) of Expenditures to maintain tenure to the Fye Property, to satisfy
contractual obligations that have been entered into as the result of a previously
approved program and to satisfy obligations imposed by law or to prevent waste or protect
life and property. The mandatory program shall be deemed to be approved and each of the
parties shall be obligated to contribute its proportionate share of Expenditures. If
payment is not made within 30 days of written demand, the other party may elect to
advance the amount of the defaulted payment and the defaulting party shall be deemed to
have forfeited its rights to participate in future programs and its interest shall then
be converted to a 2% NSR. If a written demand is made as aforesaid, it shall contain a
reminder to the party upon which demand is being  

Page 11 of 27 

 

	  	
made
that its  interests  under this  Agreement  will be converted to a NSR interest if
payment of its proportionate share is not made as demanded.  

	12.8  	  	If
the Management Committee elects to abandon any claim comprising the Fye Property and one
party (the “Contesting Party”) has voted against such abandonment, then
each party shall be notified of such abandonment at least 60 days prior to the
anniversary of the recording date for the claim to be abandoned. If the Contesting Party,
within 30 days of receiving a notice of abandonment, notifies the Management Committee
that the Contesting Party wishes to acquire the abandoned claim, then the parties shall
cause a transfer of the claim to be abandoned to the Contesting Party as soon as
practicable thereafter without any payment to the other parties, however the Contesting
Party shall be responsible for the costs of the transfer.  

	13.  	   	Additional
TCAI Option  

	13.1  	  	Upon
the earlier of the JV completing: 

	  	(a) 	  	$8.0
million in Expenditures from the formation of the JV; or  

	  	(b) 	  	a
Preliminary Feasibility Study on the Fye Property,  

	  	
the
Operator shall forthwith provide the parties written notice (the “Additional
Rights Notice”) which shall include a copy of the Expenditures incurred to date
and, if applicable, a copy of the Preliminary Feasibility Study.  

	  	
“Preliminary
Feasibility Study” means a comprehensive study, prepared in good faith, of the
viability of exploiting a mineral deposit on the Fye Property that has advanced to a
stage where the mining method, in the case of underground mining, or the pit
configuration, in the case of an open pit, has been established, and includes an
effective method of mineral processing and a financial analysis based on reasonable
assumptions of technical, engineering, operating, economic factors and the evaluation of
other relevant factors which are sufficient for a Qualified Person, as defined in §14.2,
acting reasonably, to determine that all or part of the mineral resource may be
classified as a mineral reserve.  

	13.2  	  	TCAI
will have a one-time option to elect to earn an additional 9% interest in the JV and Fye
Property (“Additional Interest”) by sole funding and completing a
Feasibility Study within 4 years of the Additional Rights Notice (the “Additional
Earn-in Right”).  

	13.3  	  	TCAI
may elect to invoke the Additional Earn-in Right with respect to the Fye Property by
delivering written notice to WKR, at any time up to 60 days after the delivery by the
Operator of the Additional Rights Notice. If TCAI fails to deliver such notice within
such applicable 60 day period the Additional Earn-in Right shall terminate.  

	13.4  	  	After
electing to invoke the Additional Earn-in Right TCAI shall commence a Feasibility Study
and incur a minimum of $500,000 in Expenditures per calendar year until the completion of
such Feasibility Study or earlier termination of the Additional Earn-in Right under §13.5.
If TCAI fails to meet the minimum annual expenditure requirement then WKR may by
providing Notice to TCAI, revoke the Additional Earn-in Right, in which case, TCAI shall:  

	  	(a) 	  	have
no further obligation to sole fund Expenditures to earn the Additional
          Interest;  

Page 12 of 27 

 

	  	(b)  	  	pay
WKR any shortfall between the actual Expenditures incurred and the           requirement
of $500,000 per calendar year contemplated above, which shall be due           and owing
in cash within 30 days of the date of termination of the Additional           Earn-in
Right; and  

	  	(c)  	  	retain
the interest it held prior to invoking the Additional Earn-in Right and           the
provisions of the JV shall apply to further funding.  

	  	
However,
if TCAI has been diligent in carrying out the Feasibility Study but has been prevented or
delayed from being able to expend funds effectively or efficiently to meet the minimum
annual expenditure requirement by events of force majeure or by technical, engineering,
permitting, local or social issues, or country/global financing issues that are outside
the control of TCAI, acting reasonably, then WKR may not revoke the Additional Interest
Earn-in Right.  

	13.5  	  	After
electing to invoke the Additional Earn-in Right TCAI may at any time notify WKR that TCAI
does not wish to earn the Additional Interest, in which case, TCAI shall have no further
obligation to sole fund Expenditures to earn the Additional Interest, TCAI shall retain
the interest it held prior to invoking the Additional Earn-in Right and the provisions of
the JV shall apply to further funding.  

	13.6  	  	If
TCAI invokes the Additional Earn-in Right and completes a Feasibility Study within the
time referred to in §13.2, subject to any extensions under §13.8, TCAI shall
have earned the Additional Interest.  

	13.7  	  	If
TCAI earns the Additional Interest, if a positive production decision is made and if
requested by WKR under §15.1, TCAI shall arrange project financing on behalf of WKR
as provided for in §15.1.  

	13.8  	  	If
TCAI has initiated but not completed a Feasibility Study within 4 years of the Additional
Rights Notice (subject to force majeure and permitting issues) it may elect to extend the
time limit to complete Feasibility Study (so long as it is in good faith diligently
working to complete such feasibility study) for additional annual periods of 12 months by
making cash payments to WKR of one million dollars ($1,000,000) for each 12 month
extension.  

	13.9  	  	If
TCAI invokes the Additional Earn-in Right and does not complete a Feasibility Study
within the time referred to in §13.2, subject to any extensions under §13.8, it
shall lose the right to earn the Additional Interest, it shall retain the interest it
held prior to invoking the Additional Earn-in Right and the provisions of the JV shall
apply to further funding.  

	14.  	   	Feasibility
Study Defined  

	14.1  	  	“Feasibility
Study” means a comprehensive report, prepared in good faith and signed by a
Qualified Person, that shows the feasibility of placing the Fye Property or part thereof
into commercial production. The Feasibility Study shall contain all geological,
engineering, operating, economic and other relevant factors which are to be considered in
sufficient detail that, in the opinion of a Qualified Person, the Feasibility Study could
reasonably serve as the basis for a decision by an independent commercial financial
institution to finance the development of the Fye Property for commercial production. The
Feasibility Study shall examine the following matters: ore reserves; mining methods;
metallurgy and processing (including metal recovery); environment, tailings and waste
disposal; capital and operating cost estimates; manpower, social and community affairs;
transportation methods and costs; marketing; project financing  

Page 13 of 27 

 

	  	
alternatives;
a sensitivity analysis; such other matters as are appropriate. The Feasibility Study
shall include at least the following information:  

	  	(a)  	  	a
description of that part of the Fye Property to be covered by the proposed
          mine;  

	  	(b)  	  	the
estimated recoverable reserves of minerals and the estimated composition and
          content thereof;  

	  	(c)  	  	the
proposed procedure for development, mining and production;  

	  	(d)  	  	results
of ore amenability tests;  

	  	(e)  	  	the
nature and extent of the facilities proposed to be acquired which may           include
mill facilities, if the size, extent and location of the ore body makes           such
mill facilities feasible, in which event the study shall also include a
          preliminary design for such mill;  

	  	(f)  	  	the
total costs, including capital budget, which are reasonably required to
          purchase, construct and install all structures, machinery and equipment
required           for the proposed mine, including a schedule of timing of such
requirements;  

	  	(g)  	  	all
environmental impact studies prepared to date and the anticipated future           costs
of reclamation;  

	  	(h)  	  	the
period in which it is proposed the Fye Property shall be brought to           commercial
production;  

	  	(i)  	  	such
other data and information as are reasonably necessary to substantiate the
          existence of an ore deposit of sufficient size and grade to justify development
          of a mine, taking into account all relevant business, tax and other economic
          considerations; and  

	  	(j)  	  	working
capital requirements for the initial four months of operation of the           Property
as a mine or such longer period as may be reasonably justified in the
          circumstances.  

	14.2  	  	“Qualified
Person” means an individual who:  

	  	(a)  	  	is
an engineer or geoscientist with at least five years relevant experience and
          expertise in mineral exploration, mine development or operation or mineral
          project assessment, or any combination of these;  

	  	(b)  	  	has
experience relevant to the subject matter of the mineral project and the
          technical report; and  

	  	(c)  	  	is
a member in good standing of a professional association.  

	15.  	   	Project
Financing  

	15.1  	  	If
TCAI has earned the Additional Interest, upon the Management Committee approving a
production plan under §16.2, WKR will have the option to request that TCAI arrange
financing for WKR’s share of the capital costs required to develop the Fye Property.
WKR may exercise this option by providing notice to TCAI within 45 days of the Management
Committee approving a production plan under §16.2. TCAI shall then commit to either:  

Page 14 of 27 

 

	  	(a)  	  	use
its best efforts to arrange or provide project debt financing for not less           than
60% of the projected capital costs on a limited recourse basis after           technical
completion (the “Debt Financing”), and in connection           therewith
TCAI shall be entitled to arrange such Debt Financing on such terms as           it deems
fit and may commit, on behalf of WKR, the whole of the Fye Property as           security
for such financing. For greater clarity TCAI shall not be obliged to           agree to
project loan rates higher than those that would be payable if TCAI           remained
liable in respect of such financing after technical completion and, if           Debt
Financing is provided by a third party, the terms of any financing arranged           for
WKR shall be on terms no less favorable than those arranged for TCAI; and  

	  	  	(i)  	  	if
TCAI elects to arrange the Debt Financing, and if project costs exceed the
               amount available for Debt Financing and the parties elect nonetheless to
put the                Fye Property into commercial production, then at WKR’s
election, TCAI shall                also arrange or provide WKR’s portion of equity
financing on a subordinate                loan basis at LIBOR (“LIBOR” means
the average London Inter                Bank Offered Rate, for three-month US dollar
borrowings, posted by the British                Bankers Association, currently at their
website www.bba.org.uk but at such other                locations as they may post if
this website changes, two business days prior to                the commencement of the
calendar quarter.) plus 4% per annum, calculated                monthly.  

	  	
or 

	  	  	(ii)  	  	even
if third party project debt financing is available at acceptable rates,
               TCAI may nevertheless, itself, elect to use its best efforts to arrange or
               provide project financing for 100% of the projected capital costs, through
other                means, and shall provide such financing to WKR on a subordinate loan
basis at                Prime Rate plus 2% per annum, calculated monthly and in
connection therewith                TCAI shall be entitled to arrange such financing on
such terms as it deems fit                and may commit, on behalf of the WKR, the whole
of the Fye Property as security                for such financing;  

	15.2  	  	For
greater clarity if TCAI is able to raise financing on commercially reasonable terms and
does not arrange the financing, then the Additional Interest earned shall be returned to
WKR.  

	15.3  	  	TCAI’s
obligation to arrange or provide project financing on WKR’s behalf, is
non-assignable by WKR and WKR’s option to elect to have TCAI provide such project
financing shall terminate if:  

	  	(a)  	  	White
Knight Resources Ltd. is controlled by a third party (defined as a party
          holding a right to at least 30% of the voting shares of White Knight Resources
          Ltd.); or  

	  	(b)  	  	White
Knight Gold (U.S.) Inc. ceases to be 100% owned by White Knight Resources           Ltd.  

	  	
For
clarity in such a case TCAI shall have no obligation to return any of the Additional
Interest earned.  

	15.4  	  	If
TCAI provides financing for WKR under §15.1, the available free cash flows from the
project, after deduction of operating costs, shall be used, firstly, to retire Debt
Financing (including principal, interest and a charge (to cover TCAI’s direct costs)
attributable to any guarantees provided by TCAI (the “Project Debt”))
and the balance shall be divided and paid as follows:  

Page 15 of 27 

 

	  	  	(i)  	  	100%
of the free cash flow attributable to TCAI’s interest shall be paid to
               TCAI; and  

	  	  	(ii)  	  	until
any subordinated loan provided under under 15.1(a)(i) or 15.1(a)(ii) has
               been repaid, 85% of the free cash flow attributable to WKR’s interest
shall                be paid to TCAI, to recover the principal and interest of such
subordinated                loan, and 15% shall be paid to WKR, and  

	  	  	(iii)  	  	after
any subordinated loan provided under 15.1(a)(i) or 15.1(a)(ii) has been
               repaid, 100% of the free cash flow attributable to WKR’s interest
shall be                paid to WKR,  

	15.5  	  	In
connection with and as security for the financing, WKR shall also provide TCAI with the
right (but not the obligation) to market WKR’s share of production until the payback
of the initial development cost (the Project Debt and the subordinated loan). TCAI may
have the right to charge a competitive marketing fee.  

	16.  	   	Developing
and Operating the Fye Property as a Mine  

	16.1  	  	Any
decision to place the Fye Property into production is to be based on a production plan
approved by the Management Committee and based on an approved Feasibility Study with such
modifications, if any, as the Management Committee considers necessary or desirable and
which do not have a material negative impact upon either party.  

	16.2  	  	Upon
delivery of a production plan on the Fye Property the Management Committee may approve a
production plan (including a cost estimate, with reasonable allowance for contingencies,
which the Management Committee considers necessary to implement the production plan,
together with a schedule of advances which the parties shall be required to make in
respect of Expenditures required to construct and to operate the mine) and the giving of
a notice to each of the parties that a decision has been made to construct a mine on the
Fye Property.  

	16.3  	  	Each
party may, by notice within 60 days of receipt of an approved production plan, elect to
participate in placing the Fye Property into production by committing to contribute its
proportionate share of the capital Expenditures required to construct and to operate the
mine in proportion to its interest, or some lesser share but at least 10%. If a party so
elects to contribute, it shall be deemed to hold an interest equivalent to that
percentage it elected to contribute. If either TCAI or WKR elects not to contribute, it
shall be deemed to have assigned its interest to the other party, in consideration for a
2% NSR, if that other party elects to increase its contribution thereby. If a party
elects to fund some lesser share than its entire interest percentage, but at least 10%,
the interest that was forgone in the election shall be deemed to have been assigned to
the other party, for no consideration, if that other party elects to increase its
contribution thereby. No party shall be required to provide any completion guarantees,
unless completion guarantees are required by lenders providing project financing, in
which case each party shall provide guarantees acceptable to those lenders. No party may
mortgage its interest in the Fye Property except to a lender that provides project
financing and which agrees that upon any realization of its security it shall observe all
of the terms of the JV and Agreement including right of first offer provisions in the
Agreement to the same extent as if its borrower proposed to sell its interest in the Fye
Property. If elections have not been made to fully fund the capital Expenditures then the
production plan shall be deemed withdrawn.  

Page 16 of 27 

 

	16.4  	  	A
mine shall be constructed substantially in conformity with the production plan approved
under §16.2, but subject to the right of the Management Committee to approve such
reasonable variations in construction as it may deem advisable.  

	16.5  	  	A
mine shall be operated on the basis of annual operating plans approved by the Management
Committee; provided that the Management Committee may temporarily suspend or permanently
terminate operations pursuant to a suspension or closure plan approved by it.  

	16.6  	  	The
Operator may invoice for mine capital Expenditures or operating Expenditures incurred or
to cash call reasonably in advance of requirements. If a party does not pay the amount
invoiced within 30 days, the Operator may demand payment. If payment is not made within
30 days of demand the other party may elect to pay all or a portion of the unpaid cost
share of the defaulting participant. If the other party advances such unpaid share, then
they or it shall be entitled to recover the amount so paid, together with interest
thereon from the date so paid at a per annum rate equal to Prime Rate plus 4%. The party
making the advance shall have a lien against the defaulting participants interest and
shall have:  

	  	(a)  	  	the
right to take possession of all or a portion of the defaulting           participant’s
interest in the Fye Property and to sell, or purchase, such           interest to recover
the amount of such default; provided that  

	  	(b)  	  	if
the Fye Property is in production the party making the advance may, in the
          interim of proceeding under §16.6(a) above, have a prior and a first
right,           after retirement of project debt, to receive the share of mineral
products of           the defaulting party until such party has received mineral products
in kind of a           value equal to (after the costs of sale and costs of enforcement
of the lien)           the amount advanced, together with interest thereon at the rate
specified.  

	16.7  	  	The
definitive option joint venture agreement contemplated under §28.3 shall provide for
suspension of operations during sustained periods of negative operating cash flow and for
resumption of suspended operations.  

	16.8  	  	Subject
to §15.5, a party contributing to mine costs shall take, in kind, its proportionate
share of any minerals produced and to separately dispose of the same.  

	17.  	   	Restrictions
On Alienation and Right of First Offer  

	17.1  	  	Except
in accordance with this Agreement no party shall transfer, sell, dispose or encumber its
interest in the Fye Property. Subject to §17.4, this Agreement may not be assigned
by either party without the written consent of the other party, and any attempt to assign
this Agreement or delegate performance hereunder without such consent shall be void.  

	17.2  	  	No
party shall institute any proceedings to partition the Fye Property. 

	17.3  	  	A
party (including a party with respect to its NSR) wishing to dispose of any interest or
rights under this Agreement shall, by notice, first offer to sell it to the other party
for a price (payable in work commitments and/or cash and/or marketable securities or a
combination of the three) and on terms which the disposing party establishes. If TCAI
and/or WKR as the case may be does not accept the offer within 30 days the disposing
party shall then have 180 days, from the earlier of notice of rejection of the offer or
the end of the 30 day period, to dispose of its interest to a third party for the same or
greater price and on the same terms or terms no more favourable to the third  

Page 17 of 27 

 

	  	
party,
provided that the incoming party delivers, in a form acceptable to the other parties, a
document whereby it agrees to be bound by, and comply with, the terms of this Agreement.
For the purposes of this §17.3 marketable securities means common stock of a company
with a market capitalization of at least $50,000,000.00 and at least 10 million common
shares issued and outstanding that is traded on a recognized stock exchange. The per
share value of the marketable security used in any transaction hereunder for purposes of
determining the price and market capitalization of the issuer shall be the average of the
closing price for such security on its principal stock exchange for the 60 trading days
that end 10 days before the closing of the transaction. In determining the price of a
transaction hereunder, work commitments shall be valued at the amount required to be
expended to meet the work commitment without discounting or other adjustments.  

	17.4  	  	The
right of first offer shall not apply to transfers to affiliated corporations provided
that the incoming party delivers, in a form acceptable to the other parties, a document
whereby it agrees to be bound by, and comply with, the terms of this Agreement. However
if the transferee ceases to be an affiliate within 2 years of the transfer it shall offer
the interest to the remaining party at fair market value under §17.3.  

	18.  	   	Area
of Interest and Use of Data  

	18.1  	  	Both
during the term of the Option and subsequently, there shall be an area of interest which
shall be comprised of those lands included within the outer boundaries of the Fye
Property, Schedule A1 (the “Area of Interest”). If either party stakes
or acquires any surface or water rights or mineral property within the Area of Interest,
it shall offer to have those rights or property included in this Agreement. The other
party shall have 30 days to elect whether to accept that offer and, where appropriate,
pay its share of the costs of acquisition (for clarity if acquired during the term of the
Option costs shall be to TCAI’s account and be considered Expenditures and if
acquired during the JV each party shall be responsible for their cost share of such
Expenditures); failing which election and payment, the acquiring party may retain the
rights or property so acquired free of the terms of this Agreement.  

	18.2  	  	Neither
party will have any obligation to the other with respect to the acquisition of properties
or interests in minerals, surface or water rights, whether directly or indirectly, which
are outside the Area of Interest.  

	19.  	   	Representations
and Warranties  

	19.1  	  	White
Knight Resources Ltd represents and warrants to TCAI the following (which representations
and warranties shall be remade on the private placement closing date and at the closing
of any future financing):  

	  	(a)  	  	White
Knight Resources Ltd. is a corporation, duly incorporated, validly           existing,
and in good standing under the laws of British Columbia and has the           corporate
power and authority to enter this Agreement;  

	  	(b)  	  	The
capital structure of White Knight Resources Ltd. is comprised of only one           class
of stock, common shares, the voting of these shares for directors of White
          Knight Resources Ltd. is on a noncumulative basis, no voting trusts or voting
          agreements exist with respect to the common shares, and White Knight Resources
          Ltd.‘s management and board of directors will not, during the term of this
          Agreement, modify the capital structure of White Knight Resources Ltd. to
          include additional classes of shares or approve or  

Page 18 of 27 

 

	  	
participate
 in voting  trusts or voting                   agreements with respect to the common
shares.  As of September 15, 2004,  White Knight  Resources                   Ltd.  has
 52,469,386  Common  Shares  issued and  outstanding  as well as: a total of  3,515,000
                  outstanding incentive stock options; and a total of 9,574,899
outstanding warrants. 

	  	(c)  	  	No
agent, broker, investment banker, person or firm acting on behalf or under           the
authority of White Knight Resources Ltd. is or will be entitled to any           broker’s
or finder’s fee or any other similar commission or fee in           connection with
the execution, delivery, or performance of this Agreement or the           private
placement provided for in §1.  

	19.2  	  	White
Knight Resources Ltd. and White Knight Gold (U.S.) Inc. each represent and warrant to
TCAI that: 

	  	(a)  	  	White
Knight Gold (U.S.) Inc. owns or has the right to earn a 100% interest in           the
Fye Property, as set out on Schedule “A1";  

	  	(b)  	  	the
Fye Property is recorded in the name of White Knight Gold (U.S.) Inc.;  

	  	(c)  	  	White
Knight Gold (U.S.) Inc. has the exclusive right and necessary lawful           authority
to explore for minerals on the Fye Property and that evidence of such           right is
or shall be recorded against title to the Fye Property;  

	  	(d)  	  	White
Knight Gold (U.S.) Inc. has the right to enter into this Agreement, to           assign
all or a portion of the interest in the Fye Property free of any consent           or
preferential purchase right held by other parties, and to dispose of the Fye
          Property in accordance with the terms of this Agreement;  

	  	(e)  	  	there
are no adverse claims or challenges against or to the ownership of or           title to
any of the mineral claims and other interests comprising the Fye           Property, nor
to its knowledge is there any basis therefor, and there are no           outstanding
agreements or options to acquire or purchase the Fye Property or any           portion
thereof or any production therefrom granted by it and no person has any           royalty
or other interest whatsoever in the Fye Property or in production           therefrom
except as herein defined and as provided in the Underlying Agreement;  

	  	(f)  	  	WKR’s
transfer of the Fye Property to TCAI will be free of all liens,           mortgages,
pledges, encumbrances and charges of every kind and nature;  

	  	(g)  	  	WKR
has not committed and will not commit any act or acts which would reasonably           be
expected to encumber or cause any lien to be placed against the Fye Property,
          including without limitation, by reason of any Environmental Law;  

	  	(h)  	  	all
required permits, authorizations, approvals and consents to the transfer and
          conveyance of the Fye Property will be obtained by WKR;  

	  	(i)  	  	the
mineral claims and other rights (land, water etc.) that comprise the Fye
          Property are presently in good standing and are free and clear of all liens,
          charges and encumbrances and subject to the provisions of this Agreement it
          shall maintain them in that condition so long as TCAI has any right to earn an
          interest therein hereunder;  

Page 19 of 27 

 

	  	(j)  	  	the
Fye Property and its existing and prior uses by WKR comply and have, to its
          knowledge, at all times complied with, and WKR is not in violation of, and have
          not violated, in connection with the ownership, use, maintenance or operation
of           the Fye Property, any applicable federal or local laws, regulations, rules,
          orders or approvals relating to its operations on the Fye Property;  

	  	(k)  	  	without
limiting the generality of §19.2(j), WKR has operated the Fye           Property and
has at all times received, handled, used, stored, treated, shipped           and disposed
of all Hazardous Materials or Hazardous Substances in strict           compliance with
all Environmental Laws and applicable health or safety laws,           regulations,
orders or approvals;  

	  	(l)  	  	no
Hazardous Materials or Hazardous Substances have been released into the
          environment, or deposited, discharged, placed or disposed of at, on or near the
          Fye Property as a result of its operations carried out on the Fye Property,
nor,           to the best of its knowledge, have any of the above occurred nor has the
Fye           Property been used at any time by any person as a landfill or waste
disposal           site;  

	  	(m)  	  	no
notices of any violation or apparent violation of any of the matters referred
          to in §19.2(j) through §19.2(l) relating to the Fye Property or its
          use have been received by WKR;  

	  	(n)  	  	to
the best of its knowledge, there are no writs, injunctions, orders or
          judgements outstanding, no lawsuits, claims, proceedings or investigations
          pending or threatened, relating to the use, maintenance or operation of the Fye
          Property, whether related to environmental, archaeological or similar matters,
          or otherwise, nor, to the knowledge of WKR, is there any basis for such
          lawsuits, claims, proceedings or investigations being instituted or filed;  

	  	(o)  	  	to
the best of its knowledge, there are no active treaty negotiations in respect
          of native land claims affecting the Fye Property, nor is WKR aware of pending
          native land claims that may affect the Fye Property; and  

	  	(p)  	  	the
Fye Property does not comprise all or substantially all of the assets of           White
Knight Resources Ltd or White Knight Gold (U.S.) Inc.  

	19.3  	  	Each
party represents and warrants to the other party that: 

	  	(a)  	  	it
is a corporation, duly incorporated, organized, validly existing, and in good
          standing under the laws of its incorporating jurisdiction and has the full
          corporate power and authority to carry on its business and to enter this
          Agreement and any agreement or instrument referred to or contemplated by this
          Agreement;  

	  	(b)  	  	the
execution, delivery and performance of this Agreement and the other           instruments
to be executed and delivered by it have been authorized by all           necessary
corporate action of it, including approval by its board of directors           and
shareholders if required, and do not and will not: (a) contravene it’s
          charter or bylaws or other constating documents; (b) violate any material
          provision of law, rule, regulation, order, writ, judgment, injunction, decree,
          determination or award presently in effect having applicability to it, or (c)
          result in a material breach of or constitute a material default under any
          agreement to which it is a party which would have a material adverse effect
upon           the right, power and authority of it to perform its obligations hereunder;  

Page 20 of 27 

 

	  	(c)  	  	no
civil or criminal actions, proceedings or investigations exist or have been           or
are threatened by or before any court, governmental agency, regulatory
          authority, or arbitrator with respect to or affecting it which would restrain
or           prohibit the execution, delivery or performance of this Agreement.  

	  	(d)  	  	no
agent, broker, investment banker, person or firm acting on behalf or under           the
authority of it is or will be entitled to any broker’s or finder’s
          fee or any other similar commission or fee in connection with the execution,
          delivery, or performance of this Agreement; and  

	  	(e)  	  	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.  

	19.4  	  	The
warranties herein shall survive the execution of this Agreement and shall be unaffected
by any examinations undertaken by TCAI or its counsel.  

	20.  	   	Covenants  

	20.1  	  	Until
the expiry of the Option, WKR covenants, subject toss.8.3(a): 

	  	(a)  	  	to
pay any costs incurred in defending its existing title to the Fye Property;           and  

	  	(b)  	  	not
to dispose of any part or portion of the Fye Property except in accord with           the
terms of this Agreement or enter into any agreement or do anything that           would
create a lien or encumbrance on the Fye Property except as permitted           herein;
not to enter into any contract or agreement with respect to the Fye           Property
which would in away negatively impact TCAI’s rights to exercise           its Option
as provided for herein; not to amend, modify or terminate the           Underlying
Agreement without the approval and agreement of TCAI and that it will           comply
with all governmental requirements and laws respecting WKR’s use and
          operation of the Fye Property, including the Environmental Laws.  

	20.2  	  	TCAI
shall perform its work on the Fye Property in conformity with all environmental and other
applicable requirements.  

	21.  	   	Indemnification  

	21.1  	  	White
Knight Resources Ltd and White Knight Gold (U.S.) Inc. agree to jointly and severally
indemnify, hold harmless and release TCAI and its officers, directors, employees,
shareholders, authorized agents, representatives, parent and affiliated companies from
and against any and all claims, causes of action, liabilities, obligations, losses,
damages, penalties, fines, settlements, costs or expenses of any nature whatsoever,
including without limitation reasonable attorneys’ fees and disbursements arising
from:  

	  	(a)  	  	Any
of the WKR’s representations or warranties set forth in §19 of           this
Agreement being incorrect or untrue or any state of facts contrary to any           such
representation or warranty; and  

	  	(b)  	  	Any
of WKR’s covenants, duties, obligations or agreements contained in this
          Agreement being breached, including its obligations under §2.1(d) hereof.  

Page 21 of 27 

 

	21.2  	  	TCAI
agrees to indemnify and hold harmless and release WKR and its officers, directors,
employees, shareholders, authorized agents and representatives from and against any and
all claims, causes of action, liabilities, obligations, losses, damages, penalties,
fines, settlements, costs or expenses of any nature whatsoever, including without
limitation reasonable attorneys’ fees and disbursements, arising from:  

	  	(a)  	  	Any
of TCAI’s representations or warranties set forth in §19 of this
          Agreement being incorrect or untrue or any state of facts contrary to any such
          representation or warranty;  

	  	(b)  	  	Any
of TCAI’s covenants, duties, obligations or agreements contained in           this
Agreement being breached.  

	22.  	   	Environmental
Law(s) Defined  

	22.1  	  	“Environmental
Law(s)” means any federal, state, or municipal law, code, ordinance, rule,
regulation, policy, guidelines, permit, consent, approval, license, judgment, order,
writ, decree, injunction or other authorization, relating to:  

	  	(a)  	  	emissions,
discharges, releases or threatened releases of Hazardous Materials or           Hazardous
Substances into the natural or human environment, including, without
          limitation, air, soil, sediments, land surface or subsurface, surface water,
          ground water, buildings or facilities, treatment works, drainage systems or
          septic systems; or  

	  	(b)  	  	the
generation, treatment, storage, disposal, recycling, use, handling,
          manufacturing, processing, reprocessing, transportation or shipment or
          arrangement for transportation or shipment of any Hazardous Materials or
          Hazardous Substances; or  

	  	(c)  	  	otherwise
concerning pollution or protection of the environment, public health           and safety
or exposure to Hazardous Materials, Hazardous Substances or other           hazardous or
toxic substances alleged to be harmful including without           limitation, the laws
described in the definition of “Hazardous           Materials” below, the Clean
Water Act, and all amendments to the foregoing           and all state and local
variations of the same.  

	22.2  	  	“Hazardous
Materials” and “Hazardous Substances” means:  

	  	(a)  	  	any
and all contaminants, pollutants, constituents, wastes and substances that           are
listed or defined as hazardous in the following statutes and their           implementing
federal and state regulations:  

	  	  	(i) 	  	the
Hazardous Materials Transportation Act, 49 U.S.C. §1801 et seq.;  

	  	  	(ii)  	  	the
Resource Conservation and Recovery Act, 42 U.S.C. §6901 et seq.                (“RCRA”);  

	  	  	(iii)  	  	the
Comprehensive Environmental Response, Compensation and Liability Act, as
               amended by the Superfund Amendments and Reauthorization Act, 42 U.S.C.
               §9601 et seq. (“CERCLA”);  

	  	  	(iv)  	  	the
Federal Water Pollution Control Act, 33 U.S.C. §1251 et seq.;  

Page 22 of 27 

 

	  	  	(v) 	  	the
Clean Air Act, as amended by the Clean Air Act Amendments of 1990, 42 U.S.C.
          §7401 et seq.;  

	  	  	(vi) 	  	the
Emergency Planning and Community Right-to-Know Act of 1986, as amended, 42
          U.S.C. §11001 et seq.; and  

	  	  	(vii) 	  	any
amendments to any of the foregoing and any state or local variation thereto.  

	  	(b) 	  	petroleum,
including crude oil and any fractions thereof;  

	  	(c)  	  	natural
gas, synthetic gas and any mixtures thereof;  

	  	(d)  	  	asbestos
and/or asbestos-containing materials  

	  	(e)  	  	PCBs
or PCB-containing materials or fluids;  

	  	(f)  	  	any
other substance with respect to which any federal, state or local agency or
          other governmental authority may require either an environmental investigation
          or environmental remediation; and  

	  	(g)  	  	any
other hazardous or noxious material, contaminant, pollutant, constituent,
          substance, or solid or liquid waste that is or may be regulated by, or forms a
          basis of liability under, any Environmental Laws.  

	23.  	   	Confidentiality
and Press Releases  

	23.1  	  	Each
party agrees that until the termination of this Agreement all information obtained
hereunder shall be the exclusive property of the parties and shall not be publicly
disclosed or used other than for the activities contemplated hereunder, except as
required by law or by the rules and regulations of any regulatory authority or stock
exchange having jurisdiction or in connection with the filing of an annual information
form, prospectus or similar document, or with the written consent of the other parties,
such consent not to be unreasonably withheld, provided that the provisions of this
section do not apply to information which is or becomes part of the public domain other
than through a breach of the terms hereof or which would not otherwise be considered as
material to the parties, acting reasonably.  

	23.2  	  	Consent
to disclosure of information hereunder shall not be unreasonably withheld where a party
wishes to disclose any such information to a third party for the purpose of arranging
financing for its contributions hereunder or, where permitted by this Agreement, for the
purpose of selling its interest in the Fye Property or its interest in this Agreement,
provided that such third party gives its undertaking to the parties that any such
information not theretofore publicly disclosed shall be kept confidential and not
disclosed to others for a period agreed upon by the parties, which shall not be less than
one year in duration.  

	23.3  	  	A
party proposing a press release relating to the Fye Property, or the terms of this
Agreement, work thereon or the activities of the parties or their affiliates with respect
thereto, shall provide a copy to the other party for its information and comments using
its best efforts, in light of its timely disclosure obligations under applicable law, to
ensure it is provided at least 2 business days prior to release. Any comments that the
receiving party may make shall not be considered certification by the other party of the
accuracy of the information in such press release, or a confirmation by it that the
content of such press release complies with the disclosure standards of  

Page 23 of 27 

 

	  	
the
applicable regulatory authorities.                      If the receiving party fails to
provide comments within said time period the                     providing party may,
subject to §23.4 make the proposed press release.  

	23.4  	  	Each
partyshall obtain prior approval of the other party before issuing any press
release or public statement using the other party’s name, the name of any of the
officers, directors or employees of the other party, or the name of any of its
subsidiaries. The foregoing prohibition shall not apply if disclosure of the other party’s
name is required, in the written opinion of counsel to a party, by applicable public
disclosure requirements however in such a case the party wishing to make the disclosure
must provide a copy to the other party for its information and comments using its best
efforts to ensure it is provided at least 2 Business Days prior to release. However, such
approval shall not be considered certification by the other party of the accuracy of the
information in such press release, or a confirmation by it that the content of such press
release complies with the rules, policies, by-laws and disclosure standards of the
applicable regulatory authorities or stock exchanges.  

	24.  	   	Notice  

	24.1  	  	Any
notices, requests, demands or other communication required or permitted to be given under
this Agreement shall be in writing and may be given by personal delivery or by mail
(first class postage prepaid) or by sending it by facsimile or other similar form of
telecommunication addressed to the party to whom such communication is to be directed, in
each case addressed as follows:  

	  	(a) 	  	If
to TCAI at:  

	  	
Teck Cominco American Incorporated

Post Office Box 3087

Spokane, Washington 99220

Attention:    Legal Department

Fax: 509-459-4400 

	  	
with
a copy to 

	  	
Teck Cominco American Incorporated

c/o Teck Cominco Limited

500 - 200 Burrard St.

Vancouver, British Columbia,

Canada  V6C 3L7

Attention:   Corporate Secretary

Fax:   604-687-6100 

	  	(b) 	  	If
to WKR at:  

	  	
White Knight Resources Ltd.

922 - 510 Hastings St. W.,

Vancouver B.C. Canada V6B 1L8

Attention:   President

Fax:   604-681-0180 

	  	
All
notices shall be given (i) by personal delivery, (ii) by commercial courier, or (iii) by
certified mail, return receipt requested. All notices shall be effective and shall be
deemed delivered on the date of delivery if delivered during normal business hours. If
not delivered during normal  

Page 24 of 27 

 

	  	
business
hours, delivery shall be deemed effective on the next business day following delivery. A
party may change its address by notice to the other parties. -  

	25.  	   	Exchange
Approval  

	25.1  	  	This
Agreement is subject to the acceptance of the TSX Venture Exchange. White Knight
Resources Ltd. shall submit this Agreement to the TSX Venture Exchange for acceptance
forthwith, and shall copy TCAI with a copy of its submission and a copy of the acceptance
when obtained. If such acceptance is not obtained within 30 days of the date hereof, this
Agreement, at TCAI’s sole discretion, shall terminate and have no force or effect.  

	26.  	   	Termination  

	26.1  	  	This
Agreement shall terminate upon the occurrence of the following: 

	  	(a) 	  	a
termination of the Option or subsequent JV formed with respect to the Fye
          Property.  

	26.2  	  	The
JV with respect to the Fye Property shall terminate upon the occurrence of the earliest
of: 

	  	(a)  	  	sale
or other disposition of the Fye Property following the written agreement by           the
parties to terminate the JV;  

	  	(b)  	  	a
termination pursuant to §11.5 or §16.6(a);  

	  	(c)  	  	except
with respect to its NSR, the conversion of a party’s entire interest           to a
NSR pursuant to §11.4, §12.6(b), §12.7 or §16.3; or  

	  	(d)  	  	abandonment
of the entire Fye Property under §12.8.  

	27.  	   	Force
Majeure  

	27.1  	  	A
party may claim force majeure if such party is prevented from or delayed in
performing any obligation under this Agreement by any cause beyond its reasonable
control, whether foreseeable or unforeseeable, excluding only lack of finances, but
including, without limitation, acts of God, strikes, lockouts, or other industrial
disputes, laws, rules and regulations or orders of any duly constituted court or
governmental authority, acts of terrorism, acts of the public enemy, war, insurrection,
riots, fire, storm, flood, unusually harsh weather causing delay, explosion, government
restriction, failure to obtain any approvals required from regulatory authorities or
unavailability of equipment, materials or transportation (provided the approvals were
properly applied for and pursued in good faith and on a timely basis or the equipment,
materials or transportation were sought in a timely way), interference by third party
interests groups (including environmental lobbyists and First Nations or indigenous
peoples’ groups) or other causes whether of the kind enumerated above or otherwise,
then the time for the performance of that obligation shall be extended for a period
equivalent to the total period the cause of the prevention or delay persists regardless
of the length of such total period. A party may also claim force majeure, if such
party, acting reasonably, believes that social or political unrest in the region of the
Fye Property or the threat of that unrest will endanger the safety of its employees or
the employees of its contractors if the party were to continue with the work program
unless such social or political unrest is caused by action or inaction by that party. The
party that claims force majeure  shall promptly notify the other party and shall
take all reasonable steps to remove or remedy the cause of the prevention or delay
insofar as it is reasonably able to do so and as soon as  

Page 25 of 27 

 

	  	
possible.
The party claiming force majeure will provide the other party with a regular a
written report summarizing events that have occurred and prospects for resolution.  

	28.  	   	Miscellaneous
Provisions  

	28.1  	  	The
 obligations  of TCAI  under this  Agreement  will be subject  to the  satisfaction  of
the  following          conditions: 

	  	(a)  	  	WKR
will have delivered to TCAI, within 10 days of execution of this Agreement,           an
agreement, executed by Donald K. Jennings, in the form attached as Schedule           E;
and  

	  	(b)  	  	White
Knight Resources Ltd. will have received, within 10 days of execution or           this
Agreement, all required approvals from the TSX Venture Exchange for White
          Knight Resources Ltd. entering into this Agreement and completing the
          transactions contemplated hereby.  

	28.2  	  	This
Agreement shall be a binding agreement between the parties, until such time, if any, as a
definitive agreement contemplated under §28.3 is executed, that shall govern joint
operations on the Fye Property.  

	28.3  	  	After
the execution of this Agreement, and prior to TCAI exercising the Option, TCAI’s
solicitors shall prepare, and the parties shall endeavor to settle, a definitive joint
venture agreement, which incorporates the terms of this Agreement and which contains such
other provisions for the joint operation of the Fye Property as the parties may otherwise
agree.  

	28.4  	  	This
Agreement, and the Schedules and instruments to be delivered in connection herewith,
contains the entire understanding of the parties and supersedes all prior agreements and
understandings between the parties relating to the subject matter hereof. In the event of
any conflict between this Agreement and any Schedule attached hereto, the terms of this
Agreement shall be controlling. No modification of this Agreement shall be valid unless
made in writing and duly executed by the parties.  

	28.5  	  	The
rights and obligations of the parties shall be several, the parties shall hold their
interests as tenants in common, and nothing contained in the Agreement shall be construed
as creating a partnership or in imposing any fiduciary duty on any party.  

	28.6  	  	Nothing
expressed or implied in this Agreement is intended by the parties or shall be construed
to confer upon or to give to any person or entity other than the parties to this
Agreement or their successors or assigns any rights or remedies under or by reason of
this Agreement.  

	28.7  	  	Each
of the parties agrees that it shall take such actions and execute such additional
instruments as counsel to any party deems reasonably necessary or convenient to implement
and carry out the intent and purpose of this Agreement.  

	28.8  	  	Each
of the parties shall have the right from time to time to register or record notice of
this Agreement against title to the Fye Property, and the other parties shall co-operate
with all such registrations and recordings and provide its written consent or signature
to any documents and do such other things from time to time as are necessary or desirable
to effect all such registrations or recordings or otherwise to protect the interests of
the parties hereunder.  

Page 26 of 27 

 

	28.9  	  	Each
 party  shall  have all  remedies  provided  at law or in  equity  with  respect  to the
 obligations          hereunder. 

	28.10  	  	Except
as otherwise specifically provided in this Agreement, all fees, costs and expenses
incurred by WKR or TCAI in negotiating this Agreement or in consummating this transaction
shall be paid by the party incurring the same, including without limitation, legal,
brokerage and accounting fees, costs and expenses.  

	28.11  	  	If
any legal action or any arbitration or other proceeding is brought for the enforcement of
this Agreement, or because of an alleged dispute, breach, default or misrepresentation in
connection with any of the provisions, representations or warranties in this Agreement,
the successful or prevailing party shall be entitled to recover reasonable attorney’s
fees and other costs incurred in that action or proceeding, in addition to any other
relief to which it may be entitled.  

	28.12  	  	The
failure of a party to insist on the strict performance of any provision of this Agreement
or to exercise any right, power or remedy upon a breach hereof shall not constitute a
waiver of any provision of this Agreement or limit the party’s right thereafter to
enforce any provision or exercise any right.  

	28.13  	  	Any
provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall
be ineffective in such jurisdiction only to the extent of such prohibition or
unenforceability without affecting the remaining provisions of this Agreement.  

	28.14  	  	Unless
otherwise specified, all dollar amounts referred to herein shall be in the currency of
the United States of America.  

	28.15  	  	This
Agreement shall be governed by and interpreted in accordance with the laws of the State
of Nevada.  

	28.16  	  	This
Agreement may be executed in counterparts, each of which when so executed shall be deemed
an original, and such counterparts shall together constitute but one and the same
instrument.  

	28.17  	  	This
Agreement shall be read with such changes in gender or number as the context shall
require.  

	28.18  	  	The
headings to the articles, paragraphs, parts or clauses of this Agreement and the table of
contents are inserted for convenience only and shall not affect the construction hereof.  

	28.19  	  	The
Schedules to this Agreement are an integral part of this Agreement and are incorporated
into this Agreement.  

	28.20  	  	Unless
otherwise stated, a reference to an Article means an Article of this Agreement and the
symbol “§" followed by a number or some combination of numbers and letters
refers to the provision of this Agreement so designated and the symbol “§” followed
by a letter within a provision refers to a clause within such provision. A reference to
“this Agreement”, “hereof”, “hereunder”, “herein” or
words of similar meaning, means this agreement including the schedules hereto, together
with any amendments thereof.  

	28.21  	  	Time
is of the essence in this Agreement and the performance by the parties of their
respective duties and obligations hereunder.  

Page 27 of 27 

 

If the foregoing terms are
acceptable, please confirm your acceptance of the terms set out above by kindly executing
in the space provided below and returning it to TCAI, whereupon it shall form a binding
agreement between us in consideration for the mutual covenants herein. 

TECK COMINCO AMERICAN INCORPORATED 

“C. Bruce DiLuzio”         
              
            

C. Bruce DiLuzio

Its: V.P. Law & Administration 

WHITE KNIGHT RESOURCES LTD.

“
John M. Leask”         
              
            

Its: President 

WHITE KNIGHT GOLD (U.S.) INC. 

“
John M. Leask”         
              
            

Its: President 

This is SCHEDULE “A1” to the Letter Agreement between 

TECK COMINCO AMERICAN INCORPORATED, 

WHITE KNIGHT RESOURCES LTD.and WHITE KNIGHT GOLD (U.S.) INC.  

dated for reference October 20, 2004 

     

DESCRIPTION OF THE
PROPERTY 

The Fye Canyon Property consists of
the following mining claims owned or leased by White Knight Gold (US) Inc. (in this
Schedule “A1” referred to as “WKG”), all are located in
portions of Township 25 North, Ranges 48 and 48.5 East, Mount Diablo Base and Meridian,
all in Eureka County, Nevada, as depicted on the accompanying map. 

A 100% interest in FIL 1 to 65:
consisting of 65 claims, FILL 50 to 55: consisting of 6 claims, FYEW 1 to 27, FYEW 30 to
FYEW 162: consisting of 160 claims; and 

Subject to the Underlying Agreement,
a 100% interest in Fye 1-51, 53, 55, 57, 59-93, 95-110, 112, 114, 116, 118-123 consisting
of 114 claims. 

Total of 345 claims. 

	
Claim Name 	
BLM Serial No. 	
Book 	
Page 	
Registered Owner 
	
FIL 1	 	
860233	 	
374	 	
066	 	
WKG	 
	FIL 2	 	860234	 	374	 	067	 	WKG	 
	FIL 3	 	860235	 	374	 	068	 	WKG	 
	FIL 4	 	860236	 	374	 	069	 	WKG	 
	FIL 5	 	860237	 	374	 	070	 	WKG	 
	FIL 6	 	860238	 	374	 	071	 	WKG	 
	FIL 7	 	860239	 	374	 	072	 	WKG	 
	FIL 8	 	860240	 	374	 	073	 	WKG	 
	FIL 9	 	860241	 	374	 	074	 	WKG	 
	FIL 10	 	860242	 	374	 	075	 	WKG	 
	FIL 11	 	860243	 	374	 	076	 	WKG	 
	FIL 12	 	860244	 	374	 	77	 	WKG	 
	FIL 13	 	860245	 	374	 	78	 	WKG	 
	FIL 14	 	860246	 	374	 	79	 	WKG	 
	FIL 15	 	860247	 	374	 	80	 	WKG	 
	FIL 16	 	860248	 	374	 	81	 	WKG	 
	FIL 17	 	860249	 	374	 	82	 	WKG	 
	FIL 18	 	860250	 	374	 	83	 	WKG	 
	FIL 19	 	860251	 	374	 	84	 	WKG	 
	FIL 20	 	860252	 	374	 	85	 	WKG	 
	FIL 21	 	860253	 	374	 	86	 	WKG	 
	FIL 22	 	860254	 	374	 	87	 	WKG	 
	FIL 23	 	860255	 	374	 	88	 	WKG	 
	FIL 24	 	860256	 	374	 	89	 	WKG	 
	FIL 25	 	860257	 	374	 	90	 	WKG	 
	FIL 26	 	860258	 	374	 	91	 	WKG	 
	FIL 27	 	860259	 	374	 	92	 	WKG	 

A1-2 

	
Claim Name 	
BLM Serial No. 	
Book 	
Page 	
Registered Owner 
	 	 	 	 		 		 		 
	FIL 28	 	860260	 	374	 	93	 	WKG	 
	FIL 29	 	860261	 	374	 	94	 	WKG	 
	FIL 30	 	860262	 	374	 	95	 	WKG	 
	FIL 31	 	860263	 	374	 	96	 	WKG	 
	FIL 32	 	860264	 	374	 	97	 	WKG	 
	FIL 33	 	860265	 	374	 	98	 	WKG	 
	FIL 34	 	860266	 	374	 	99	 	WKG	 
	FIL 35	 	860267	 	374	 	100	 	WKG	 
	FIL 36	 	860268	 	374	 	101	 	WKG	 
	FIL 37	 	860269	 	374	 	102	 	WKG	 
	FIL 38	 	860270	 	374	 	103	 	WKG	 
	FIL 39	 	860271	 	374	 	104	 	WKG	 
	FIL 40	 	860272	 	374	 	105	 	WKG	 
	FIL 41	 	860273	 	374	 	106	 	WKG	 
	FIL 42	 	860274	 	374	 	107	 	WKG	 
	FIL 43	 	860275	 	374	 	108	 	WKG	 
	FIL 44	 	860276	 	374	 	109	 	WKG	 
	FIL 45	 	860277	 	374	 	110	 	WKG	 
	FIL 46	 	860278	 	374	 	111	 	WKG	 
	FIL 47	 	860279	 	374	 	112	 	WKG	 
	FIL 48	 	860280	 	374	 	113	 	WKG	 
	FIL 49	 	860281	 	374	 	114	 	WKG	 
	FIL 50	 	863446	 	376	 	336	 	WKG	 
	FIL 51	 	863447	 	376	 	337	 	WKG	 
	FIL 52	 	863448	 	376	 	338	 	WKG	 
	FIL 53	 	863449	 	376	 	339	 	WKG	 
	FIL 54	 	863450	 	376	 	340	 	WKG	 
	FIL 55	 	863451	 	376	 	341	 	WKG	 
	FIL 56	 	863452	 	376	 	342	 	WKG	 
	FIL 57	 	863453	 	376	 	343	 	WKG	 
	FIL 58	 	863454	 	376	 	344	 	WKG	 
	FIL 59	 	863455	 	376	 	345	 	WKG	 
	FIL 60	 	863456	 	376	 	346	 	WKG	 
	FIL 61	 	863457	 	376	 	347	 	WKG	 
	FIL 62	 	863458	 	376	 	348	 	WKG	 
	FIL 63	 	863459	 	376	 	349	 	WKG	 
	FIL 64	 	863460	 	376	 	350	 	WKG	 
	FIL 65	 	863461	 	376	 	351	 	WKG	 
	
FILL 50	 	
860736	 	
374	 	
381	 	
WKG	 
	FILL 51	 	860737	 	374	 	382	 	WKG	 
	FILL 52	 	860738	 	374	 	383	 	WKG	 
	FILL 53	 	860739	 	374	 	384	 	WKG	 
	FILL 54	 	860740	 	374	 	385	 	WKG	 
	FILL 55	 	860741	 	374	 	386	 	WKG	 
	
FYEW 1	 	
860282	 	
374	 	
115	 	
WKG	 
	FYEW 2	 	860283	 	374	 	116	 	WKG	 

A1-3 

	
Claim Name 	
BLM Serial No. 	
Book 	
Page 	
Registered Owner 
	 	 	 	 		 		 		 
	FYEW 3	 	860284	 	374	 	117	 	WKG	 
	FYEW 4	 	860285	 	374	 	118	 	WKG	 
	FYEW 5	 	860286	 	374	 	119	 	WKG	 
	FYEW 6	 	860287	 	374	 	120	 	WKG	 
	FYEW 7	 	860288	 	374	 	121	 	WKG	 
	FYEW 8	 	860289	 	374	 	122	 	WKG	 
	FYEW 9	 	860290	 	374	 	123	 	WKG	 
	FYEW 10	 	860291	 	374	 	124	 	WKG	 
	FYEW 11	 	860292	 	374	 	125	 	WKG	 
	FYEW 12	 	860293	 	374	 	126	 	WKG	 
	FYEW 13	 	860294	 	374	 	127	 	WKG	 
	FYEW 14	 	860295	 	374	 	128	 	WKG	 
	FYEW 15	 	860296	 	374	 	129	 	WKG	 
	FYEW 16	 	860297	 	374	 	130	 	WKG	 
	FYEW 17	 	860298	 	374	 	131	 	WKG	 
	FYEW 18	 	860299	 	374	 	132	 	WKG	 
	FYEW 19	 	860300	 	374	 	133	 	WKG	 
	FYEW 20	 	860301	 	374	 	134	 	WKG	 
	FYEW 21	 	860302	 	374	 	135	 	WKG	 
	FYEW 22	 	860303	 	374	 	136	 	WKG	 
	FYEW 23	 	860304	 	374	 	137	 	WKG	 
	FYEW 24	 	860305	 	374	 	138	 	WKG	 
	FYEW 25	 	860306	 	374	 	139	 	WKG	 
	FYEW 26	 	860307	 	374	 	140	 	WKG	 
	FYEW 27	 	860308	 	374	 	141	 	WKG	 
	
FYEW 30	 	
860742	 	
374	 	
284	 	
WKG	 
	FYEW 31	 	860743	 	374	 	285	 	WKG	 
	FYEW 32	 	860744	 	374	 	286	 	WKG	 
	FYEW 33	 	860745	 	374	 	287	 	WKG	 
	FYEW 34	 	860746	 	374	 	288	 	WKG	 
	FYEW 35	 	860747	 	374	 	289	 	WKG	 
	FYEW 36	 	860748	 	374	 	290	 	WKG	 
	FYEW 37	 	860749	 	374	 	291	 	WKG	 
	FYEW 38	 	860750	 	374	 	292	 	WKG	 
	FYEW 39	 	860751	 	374	 	293	 	WKG	 
	FYEW 40	 	860752	 	374	 	294	 	WKG	 
	FYEW 41	 	860753	 	374	 	295	 	WKG	 
	FYEW 42	 	860754	 	374	 	296	 	WKG	 
	FYEW 43	 	860755	 	374	 	297	 	WKG	 
	FYEW 44	 	860756	 	374	 	298	 	WKG	 
	FYEW 45	 	860757	 	374	 	299	 	WKG	 
	FYEW 46	 	860758	 	374	 	300	 	WKG	 
	FYEW 47	 	860759	 	374	 	301	 	WKG	 
	FYEW 48	 	860760	 	374	 	302	 	WKG	 
	FYEW 49	 	860761	 	374	 	303	 	WKG	 
	FYEW 50	 	860762	 	374	 	304	 	WKG	 
	FYEW 51	 	860763	 	374	 	305	 	WKG	 

A1-4 

	
Claim Name 	
BLM Serial No. 	
Book 	
Page 	
Registered Owner 
	 	 	 	 		 		 		 
	FYEW 52	 	860764	 	374	 	306	 	WKG	 
	FYEW 53	 	860765	 	374	 	307	 	WKG	 
	FYEW 54	 	860766	 	374	 	308	 	WKG	 
	FYEW 55	 	860767	 	374	 	309	 	WKG	 
	FYEW 56	 	860768	 	374	 	310	 	WKG	 
	FYEW 57	 	860769	 	374	 	311	 	WKG	 
	FYEW 58	 	860770	 	374	 	312	 	WKG	 
	FYEW 59	 	860771	 	374	 	313	 	WKG	 
	FYEW 60	 	860772	 	374	 	314	 	WKG	 
	FYEW 61	 	860773	 	374	 	315	 	WKG	 
	FYEW 62	 	860774	 	374	 	316	 	WKG	 
	FYEW 63	 	860775	 	374	 	317	 	WKG	 
	FYEW 64	 	860776	 	374	 	318	 	WKG	 
	FYEW 65	 	860777	 	374	 	319	 	WKG	 
	FYEW 66	 	860778	 	374	 	320	 	WKG	 
	FYEW 67	 	860779	 	374	 	321	 	WKG	 
	FYEW 68	 	860780	 	374	 	322	 	WKG	 
	FYEW 69	 	860781	 	374	 	323	 	WKG	 
	FYEW 70	 	860782	 	374	 	324	 	WKG	 
	FYEW 71	 	860783	 	374	 	325	 	WKG	 
	FYEW 72	 	860784	 	374	 	326	 	WKG	 
	FYEW 73	 	860785	 	374	 	327	 	WKG	 
	FYEW 74	 	860786	 	374	 	328	 	WKG	 
	FYEW 75	 	860787	 	374	 	329	 	WKG	 
	FYEW 76	 	860788	 	374	 	330	 	WKG	 
	FYEW 77	 	860789	 	374	 	331	 	WKG	 
	FYEW 78	 	860790	 	374	 	332	 	WKG	 
	FYEW 79	 	860791	 	374	 	333	 	WKG	 
	FYEW 80	 	860792	 	374	 	334	 	WKG	 
	FYEW 81	 	860793	 	374	 	335	 	WKG	 
	FYEW 82	 	860794	 	374	 	336	 	WKG	 
	FYEW 83	 	860795	 	374	 	337	 	WKG	 
	FYEW 84	 	860796	 	374	 	338	 	WKG	 
	FYEW 85	 	860797	 	374	 	339	 	WKG	 
	FYEW 86	 	860798	 	374	 	340	 	WKG	 
	FYEW 87	 	860799	 	374	 	341	 	WKG	 
	FYEW 88	 	860800	 	374	 	342	 	WKG	 
	FYEW 89	 	860801	 	374	 	343	 	WKG	 
	FYEW 90	 	860802	 	374	 	344	 	WKG	 
	FYEW 91	 	860803	 	374	 	345	 	WKG	 
	FYEW 92	 	860804	 	374	 	346	 	WKG	 
	FYEW 93	 	860805	 	374	 	347	 	WKG	 
	FYEW 94	 	860806	 	374	 	348	 	WKG	 
	FYEW 95	 	860807	 	374	 	349	 	WKG	 
	FYEW 96	 	860808	 	374	 	350	 	WKG	 
	FYEW 97	 	860809	 	374	 	351	 	WKG	 
	FYEW 98	 	860810	 	374	 	352	 	WKG	 
	FYEW 99	 	860811	 	374	 	353	 	WKG	 

A1-5 

	
Claim Name 	
BLM Serial No. 	
Book 	
Page 	
Registered Owner 
	 	 	 	 		 		 		 
	FYEW 100	 	860812	 	374	 	354	 	WKG	 
	FYEW 101	 	860813	 	374	 	355	 	WKG	 
	FYEW 102	 	860814	 	374	 	356	 	WKG	 
	FYEW 103	 	860815	 	374	 	357	 	WKG	 
	FYEW 104	 	860816	 	374	 	358	 	WKG	 
	FYEW 105	 	860817	 	374	 	359	 	WKG	 
	FYEW 106	 	860818	 	374	 	360	 	WKG	 
	FYEW 107	 	860819	 	374	 	361	 	WKG	 
	FYEW 108	 	860820	 	374	 	362	 	WKG	 
	FYEW 109	 	860821	 	374	 	363	 	WKG	 
	FYEW 110	 	860822	 	374	 	364	 	WKG	 
	FYEW 111	 	860823	 	374	 	365	 	WKG	 
	FYEW 112	 	860824	 	374	 	366	 	WKG	 
	FYEW 113	 	860825	 	374	 	367	 	WKG	 
	FYEW 114	 	860826	 	374	 	368	 	WKG	 
	FYEW 115	 	860827	 	374	 	369	 	WKG	 
	FYEW 116	 	860828	 	374	 	370	 	WKG	 
	FYEW 117	 	860829	 	374	 	371	 	WKG	 
	FYEW 118	 	860830	 	374	 	372	 	WKG	 
	FYEW 119	 	860831	 	374	 	373	 	WKG	 
	FYEW 120	 	860832	 	374	 	374	 	WKG	 
	FYEW 121	 	860833	 	374	 	375	 	WKG	 
	FYEW 122	 	860834	 	374	 	376	 	WKG	 
	FYEW 123	 	860835	 	374	 	377	 	WKG	 
	FYEW 124	 	860836	 	374	 	378	 	WKG	 
	FYEW 125	 	860837	 	374	 	379	 	WKG	 
	FYEW 126	 	860838	 	374	 	380	 	WKG	 
	FYEW 127	 	869584	 	382	 	102	 	WKG	 
	FYEW 128	 	869585	 	382	 	103	 	WKG	 
	FYEW 129	 	869586	 	382	 	104	 	WKG	 
	FYEW 130	 	869587	 	382	 	105	 	WKG	 
	FYEW 131	 	869588	 	382	 	106	 	WKG	 
	FYEW 132	 	869589	 	382	 	107	 	WKG	 
	FYEW 133	 	869590	 	382	 	108	 	WKG	 
	FYEW 134	 	869591	 	382	 	109	 	WKG	 
	FYEW 135	 	869592	 	382	 	110	 	WKG	 
	FYEW 136	 	869593	 	382	 	111	 	WKG	 
	FYEW 137	 	869594	 	382	 	112	 	WKG	 
	FYEW 138	 	869595	 	382	 	113	 	WKG	 
	FYEW 139	 	869596	 	382	 	114	 	WKG	 
	FYEW 140	 	869597	 	382	 	115	 	WKG	 
	FYEW 141	 	869598	 	382	 	116	 	WKG	 
	FYEW 142	 	869599	 	382	 	117	 	WKG	 
	FYEW 143	 	869600	 	382	 	118	 	WKG	 
	FYEW 144	 	869601	 	382	 	119	 	WKG	 
	FYEW 145	 	869602	 	382	 	120	 	WKG	 
	FYEW 146	 	869603	 	382	 	121	 	WKG	 

A1-6 

	
Claim Name 	
BLM Serial No. 	
Book 	
Page 	
Registered Owner 
	 	 	 	 		 		 		 
	FYEW 147	 	869604	 	382	 	122	 	WKG	 
	FYEW 148	 	869605	 	382	 	123	 	WKG	 
	FYEW 149	 	869606	 	382	 	124	 	WKG	 
	FYEW 150	 	869607	 	382	 	125	 	WKG	 
	FYEW 151	 	869608	 	382	 	126	 	WKG	 
	FYEW 152	 	869609	 	382	 	127	 	WKG	 
	FYEW 153	 	869610	 	382	 	128	 	WKG	 
	FYEW 154	 	869611	 	382	 	129	 	WKG	 
	FYEW 155	 	869612	 	382	 	130	 	WKG	 
	FYEW 156	 	869613	 	382	 	131	 	WKG	 
	FYEW 157	 	869614	 	382	 	132	 	WKG	 
	FYEW 158	 	869615	 	382	 	133	 	WKG	 
	FYEW 159	 	869616	 	382	 	134	 	WKG	 
	FYEW 160	 	869617	 	382	 	135	 	WKG	 
	FYEW 161	 	869618	 	382	 	136	 	WKG	 
	FYEW 162	 	869619	 	382	 	137	 	WKG	 
	
Fye 1	 	
854372	 	
371	 	
001	 	
Donald K. Jennings	 
	Fye 2	 	854373	 	371	 	002	 	Donald K. Jennings	 
	Fye 3	 	854374	 	371	 	003	 	Donald K. Jennings	 
	Fye 4	 	854375	 	371	 	004	 	Donald K. Jennings	 
	Fye 5	 	854376	 	371	 	005	 	Donald K. Jennings	 
	Fye 6	 	854377	 	371	 	006	 	Donald K. Jennings	 
	Fye 7	 	854378	 	371	 	007	 	Donald K. Jennings	 
	Fye 8	 	854379	 	371	 	008	 	Donald K. Jennings	 
	Fye 9	 	854380	 	371	 	009	 	Donald K. Jennings	 
	Fye 10	 	854381	 	371	 	010	 	Donald K. Jennings	 
	Fye 11	 	854382	 	371	 	011	 	Donald K. Jennings	 
	Fye 12	 	854383	 	371	 	012	 	Donald K. Jennings	 
	Fye 13	 	854384	 	371	 	013	 	Donald K. Jennings	 
	Fye 14	 	854385	 	371	 	014	 	Donald K. Jennings	 
	Fye 15	 	854386	 	371	 	015	 	Donald K. Jennings	 
	Fye 16	 	854387	 	371	 	016	 	Donald K. Jennings	 
	Fye 17	 	854388	 	371	 	017	 	Donald K. Jennings	 
	Fye 18	 	854389	 	371	 	018	 	Donald K. Jennings	 
	Fye 19	 	854390	 	371	 	019	 	Donald K. Jennings	 
	Fye 20	 	854391	 	371	 	020	 	Donald K. Jennings	 
	Fye 21	 	854392	 	371	 	021	 	Donald K. Jennings	 
	Fye 22	 	854393	 	371	 	022	 	Donald K. Jennings	 
	Fye 23	 	854394	 	371	 	023	 	Donald K. Jennings	 
	Fye 24	 	854395	 	371	 	024	 	Donald K. Jennings	 
	Fye 25	 	854396	 	371	 	025	 	Donald K. Jennings	 
	Fye 26	 	854397	 	371	 	026	 	Donald K. Jennings	 
	Fye 27	 	854398	 	371	 	027	 	Donald K. Jennings	 
	Fye 28	 	854399	 	371	 	028	 	Donald K. Jennings	 
	Fye 29	 	854400	 	371	 	029	 	Donald K. Jennings	 
	Fye 30	 	854401	 	371	 	030	 	Donald K. Jennings	 
	Fye 31	 	854402	 	371	 	031	 	Donald K. Jennings	 
	Fye 32	 	854403	 	371	 	032	 	Donald K. Jennings	 
	Fye 33	 	854404	 	371	 	033	 	Donald K. Jennings	 

A1-7 

	
Claim Name 	
BLM Serial No. 	
Book 	
Page 	
Registered Owner 
	 	 	 	 		 		 		 
	Fye 34	 	854405	 	371	 	34	 	Donald K. Jennings	 
	Fye 35	 	854406	 	371	 	35	 	Donald K. Jennings	 
	Fye 36	 	854407	 	371	 	36	 	Donald K. Jennings	 
	Fye 37	 	854408	 	371	 	37	 	Donald K. Jennings	 
	Fye 38	 	854409	 	371	 	38	 	Donald K. Jennings	 
	Fye 39	 	854410	 	371	 	39	 	Donald K. Jennings	 
	Fye 40	 	854411	 	371	 	40	 	Donald K. Jennings	 
	Fye 41	 	854412	 	371	 	41	 	Donald K. Jennings	 
	Fye 42	 	854413	 	371	 	42	 	Donald K. Jennings	 
	Fye 43	 	854414	 	371	 	43	 	Donald K. Jennings	 
	Fye 44	 	854415	 	371	 	44	 	Donald K. Jennings	 
	Fye 45	 	854416	 	371	 	45	 	Donald K. Jennings	 
	Fye 46	 	854417	 	371	 	46	 	Donald K. Jennings	 
	Fye 47	 	854418	 	371	 	47	 	Donald K. Jennings	 
	Fye 48	 	854419	 	371	 	48	 	Donald K. Jennings	 
	Fye 49	 	854420	 	371	 	49	 	Donald K. Jennings	 
	Fye 50	 	854421	 	371	 	50	 	Donald K. Jennings	 
	Fye 51	 	854422	 	371	 	051	 	Donald K. Jennings	 
	
Fye 53	 	
854423	 	
371	 	
052	 	
Donald K. Jennings	 
	
Fye 55	 	
854424	 	
371	 	
053	 	
Donald K. Jennings	 
	
Fye 57	 	
854425	 	
371	 	
054	 	
Donald K. Jennings	 
	
Fye 59	 	
854426	 	
371	 	
055	 	
Donald K. Jennings	 
	Fye 60	 	854427	 	371	 	056	 	Donald K. Jennings	 
	Fye 61	 	854428	 	371	 	057	 	Donald K. Jennings	 
	Fye 62	 	854429	 	371	 	058	 	Donald K. Jennings	 
	Fye 63	 	854430	 	371	 	059	 	Donald K. Jennings	 
	Fye 64	 	854431	 	371	 	060	 	Donald K. Jennings	 
	Fye 65	 	854432	 	371	 	061	 	Donald K. Jennings	 
	Fye 66	 	854433	 	371	 	062	 	Donald K. Jennings	 
	Fye 67	 	854434	 	371	 	063	 	Donald K. Jennings	 
	Fye 68	 	854435	 	371	 	64	 	Donald K. Jennings	 
	Fye 69	 	854436	 	371	 	65	 	Donald K. Jennings	 
	Fye 70	 	854437	 	371	 	66	 	Donald K. Jennings	 
	Fye 71	 	854438	 	371	 	67	 	Donald K. Jennings	 
	Fye 72	 	854439	 	371	 	68	 	Donald K. Jennings	 
	Fye 73	 	854440	 	371	 	69	 	Donald K. Jennings	 
	Fye 74	 	854441	 	371	 	70	 	Donald K. Jennings	 
	Fye 75	 	854442	 	371	 	71	 	Donald K. Jennings	 
	Fye 76	 	854443	 	371	 	72	 	Donald K. Jennings	 
	Fye 77	 	854444	 	371	 	73	 	Donald K. Jennings	 
	Fye 78	 	854445	 	371	 	74	 	Donald K. Jennings	 
	Fye 79	 	854446	 	371	 	75	 	Donald K. Jennings	 
	Fye 80	 	854447	 	371	 	76	 	Donald K. Jennings	 
	Fye 81	 	854448	 	371	 	77	 	Donald K. Jennings	 
	Fye 82	 	854449	 	371	 	78	 	Donald K. Jennings	 

A1-8 

	
Claim Name 	
BLM Serial No. 	
Book 	
Page 	
Registered Owner 
	 	 	 	 		 		 		 
	Fye 83	 	854450	 	371	 	79	 	Donald K. Jennings	 
	Fye 84	 	854451	 	371	 	80	 	Donald K. Jennings	 
	Fye 85	 	854452	 	371	 	81	 	Donald K. Jennings	 
	Fye 86	 	854453	 	371	 	82	 	Donald K. Jennings	 
	Fye 87	 	854454	 	371	 	83	 	Donald K. Jennings	 
	Fye 88	 	854455	 	371	 	84	 	Donald K. Jennings	 
	Fye 89	 	854456	 	371	 	85	 	Donald K. Jennings	 
	Fye 90	 	854457	 	371	 	86	 	Donald K. Jennings	 
	Fye 91	 	854458	 	371	 	87	 	Donald K. Jennings	 
	Fye 92	 	854459	 	371	 	88	 	Donald K. Jennings	 
	Fye 93	 	854460	 	371	 	89	 	Donald K. Jennings	 
	
Fye 95	 	
854461	 	
371	 	
90	 	
Donald K. Jennings	 
	Fye 96	 	854462	 	371	 	91	 	Donald K. Jennings	 
	Fye 97	 	854463	 	371	 	92	 	Donald K. Jennings	 
	Fye 98	 	854464	 	371	 	93	 	Donald K. Jennings	 
	Fye 99	 	854465	 	371	 	94	 	Donald K. Jennings	 
	Fye 100	 	854466	 	371	 	95	 	Donald K. Jennings	 
	Fye 101	 	854467	 	371	 	96	 	Donald K. Jennings	 
	Fye 102	 	854468	 	371	 	97	 	Donald K. Jennings	 
	Fye 103	 	854469	 	371	 	98	 	Donald K. Jennings	 
	Fye 104	 	854470	 	371	 	99	 	Donald K. Jennings	 
	Fye 105	 	854471	 	371	 	100	 	Donald K. Jennings	 
	Fye 106	 	854472	 	371	 	101	 	Donald K. Jennings	 
	Fye 107	 	854473	 	371	 	102	 	Donald K. Jennings	 
	Fye 108	 	854474	 	371	 	103	 	Donald K. Jennings	 
	Fye 109	 	854475	 	371	 	104	 	Donald K. Jennings	 
	Fye 110	 	854476	 	371	 	105	 	Donald K. Jennings	 
	
Fye 112	 	
854477	 	
371	 	
106	 	
Donald K. Jennings	 
	
Fye 114	 	
854478	 	
371	 	
107	 	
Donald K. Jennings	 
	
Fye 116	 	
854479	 	
371	 	
108	 	
Donald K. Jennings	 
	
Fye 118	 	
854480	 	
371	 	
109	 	
Donald K. Jennings	 
	Fye 119	 	854481	 	371	 	110	 	Donald K. Jennings	 
	Fye 120	 	854482	 	371	 	111	 	Donald K. Jennings	 
	Fye 121	 	854483	 	371	 	112	 	Donald K. Jennings	 
	Fye 122	 	854484	 	371	 	113	 	Donald K. Jennings	 
	Fye 123	 	854485	 	371	 	114	 	Donald K. Jennings	 

This is SCHEDULE “A2” to the Letter Agreement between 

TECK COMINCO AMERICAN INCORPORATED, 

WHITE KNIGHT RESOURCES LTD.and WHITE KNIGHT GOLD (U.S.) INC.  

dated for reference October 20, 2004 

     

Celt Property 

SCHEDULE B 

THERE IS NO SCHEDULE B
TO THIS AGREEMENT 

This is SCHEDULE “C” to the Letter Agreement between 

TECK COMINCO AMERICAN INCORPORATED,

WHITE KNIGHT RESOURCES LTD.and WHITE KNIGHT GOLD (U.S.) INC.  

dated for reference October 20, 2004 

     

NET SMELTER RETURNS
ROYALTY 

	1  	  	DEFINITION  

1.01    
“Net Smelter Returns” for
purposes of the Agreement are defined as follows: 

	  	
(a)   
           where all or a portion of the ores or concentrates derived from the
Property are           sold as ores or concentrates, the Net Smelter Returns shall be the
gross amount           received from the purchaser following sale thereof after deduction
of:  

	  	
(i)   
           if applicable under the sale contract, of all smelter charges, penalties
and           other deductions;  

	  	
(ii)   
           all costs of transporting and insuring the ores or concentrates from the
mine to           the smelter or other place of final delivery; and  

	  	
(iii)   
           sales, use, severance, excise, net proceeds of mine, and ad valorem taxes
and           any tax on or measured by mineral production, but excluding income taxes of
the           Royaltypayor; and  

	  	
(b)   
           where all or a portion of the said ores or concentrates derived from the
          Property are treated in a smelter and a portion of the metals recovered
          therefrom are delivered to, and sold by Royaltypayor, the Net Smelter Returns
          shall be the gross amount received from the purchaser following sale of the
          metals so delivered, after deduction of:  

	  	
(i)   
           all smelter charges, penalties and other deductions;  

	  	
(ii)   
           all costs of transporting and insuring the ores or concentrates from the
mine to           the smelter; and  

	  	
(iii)   
           if applicable under the smelter contract, all costs of transporting and
insuring           the metals from the smelter to the place of final delivery by the
purchaser; and  

	  	
(iv)   
           sales, use, severance, excise, net proceeds of mine, and ad valorem taxes
and           any tax on or measured by mineral production, but excluding income taxes of
the           Royaltypayor.  

	  	
Where
any ores or concentrates are sold to, or treated in, a smelter owned or controlled by
Royaltypayor, the pricing for that sale or treatment will be established by Royaltypayor
on an arms-length basis so as to be fairly competitive with pricing, net of
transportation, insurance, treatment charges and other related costs, then available on
world markets for product of like quantity and quality.  

C-2 

	2  	  	PAYMENT
OF NET SMELTER RETURNS  

2.01     If a party becomes entitled to a
Net Smelter Returns royalty pursuant to the Agreement, the party paying the Net Smelter
Returns (the “Royaltypayor”) shall calculate the Net Smelter Returns and
the sums to be disbursed to the party receiving the Net Smelter Returns (the
“Royaltyholder”) as at the end of each calendar quarter. 

2.02     The Royaltypayor shall, within
60 days of the end of each calendar quarter, as and when any Net Smelter Returns are
available for distribution: 

	  	
(a)   
           pay or cause to be paid to the Royaltyholder that percentage of the Net
Smelter           Returns to which the Royaltyholder are entitled under the Agreement
less any net           smelter returns royalty or other royalties payable under the
Underlying           Agreement;  

	  	
(b)   
           deliver to the Royaltyholder a statement indicating:  

	  	
(i)   
           the gross amounts received from the purchaser contemplated in §1.01of
this           Schedule “C”;  

	  	
(ii)   
           the deductions therefrom in accordance with §1.01 of this Schedule
“C”;  

	  	
(iii)   
           the amount of Net Smelter Returns remaining;  

	  	
(iv)   
           the amount of any net smelter returns royalty or other royalties payable
under           the Underlying Agreement; and  

	  	
(v)   
           the amount of the Net Smelter Returns to which the Royaltyholder are
entitled;  

	  	
supported
by such reasonable information as to the tonnage and grade of ores or concentrates
shipped as will enable the Royaltyholder to verify the gross amount payable by the
smelter or other purchaser.  

	3  	  	ADJUSTMENTS
AND VERIFICATION  

3.01     Payment of any Net Smelter
Returns by Royaltypayor shall not prejudice the right of Royaltypayor to adjust any
statement supporting the payment; provided, however, that all statements presented to the
Royaltyholder by Royaltypayor for any quarter shall conclusively be presumed to be true
and correct upon the expiration of 12 months following the end of the quarter to which the
statement relates, unless within that 12-month period Royaltypayor gives notice to the
Royaltyholder claiming an adjustment to the statement which will be reflected in
subsequent payment of Net Smelter Returns. 

3.02     Royaltypayor shall not adjust
any statement in favour of itself more than 12 months following the end of the quarter to
which the statement relates. 

3.03     The Royaltyholder shall, upon 30
days’ notice in advance to Royaltypayor, have the right to request that Royaltypayor
have its independent external auditors provide their audit certificate for the statement
or adjusted statement, as it may relate to the Agreement and the calculation of Net
Smelter Returns. 

3.04     The
cost of the audit certificate shall be solely for the Royaltyholder’ account unless
the audit certificate discloses material error in the calculation of Net Smelter Returns,
in which case Royaltypayor  

C-3 

shall reimburse the Royaltyholder
the cost of the audit certificate. Without limiting the generality of the foregoing, a
discrepancy of one percent in the calculation of Net Smelter Returns shall be deemed to
be material.  

	4  	  	ROYALTYPAYOR
TO DETERMINE OPERATIONS  

4.01     The Royaltypayor will have
complete discretion concerning the nature, timing and extent of all exploration,
development, mining and other operations conducted on or for the benefit of the Property
and may suspend operations and production on the Property at any time it considers prudent
or appropriate to do so. The Royaltypayor will owe the Royaltyholder no duty to explore,
develop or mine the Property, or to do so at any rate or in any manner other than that
which the Royaltypayor may determine in its sole and unfettered discretion. The
Royaltypayor may, but will not be obligated to treat, mill, heap leach, sort, concentrate,
refine, smelt, or otherwise process, beneficiate or upgrade the ores, concentrates, and
other products at sites located on or off the Property, prior to sale, transfer, or
conveyance to a purchaser, user, or consumer. The Royaltypayor will not be liable for
mineral values lost in processing under sound practices and procedures, and no royalty
will be due on any such lost mineral values. 

	5  	  	COMMINGLING  

5.01       Ores,
concentrates and derivatives mined or retrieved from the Property may be commingled with
ores, concentrates or derivatives mined or retrieved from other properties. All
determinations required for calculation of Net Smelter Returns, including without
limitation the amount of the metals contained in or recovered from ores, solutions,
concentrates or derivatives mined or retrieved from the Property, the amount of the
metals contained in or recovered from commingled ores, solutions, concentrates or
derivatives shall be made in accordance with prudent engineering, metallurgical and cost
accounting practices.  

	6  	  	TRADING
ACTIVITIES  

6.01     The Royaltypayor may, but need
not, engage in forward sales, futures trading or commodity options trading, and other
price hedging, price protection, and speculative arrangements (“Trading
Activities”) which may involve the possible delivery of base or precious metals
produced from the Property. The parties acknowledge and agree that the Royaltyholder shall
not be entitled to participate in the proceeds or be obligated to share in any losses
generated by the Trading Activities. 

This is SCHEDULE “D” to
the Letter Agreement between 

TECK COMINCO AMERICAN INCORPORATED, 

WHITE KNIGHT RESOURCES LTD.and WHITE KNIGHT GOLD (U.S.) INC.  

dated for reference October 20, 2004 

     

UNDERLYING AGREEMENT 

The following Underlying Agreement is
attached hereto: 

	1.  	  	Mining
Lease And Option To Purchase – Fye Claims dated November 10, 2003
               amongst Donald K. Jennings, White Knight Gold (U.S.) Inc. and White Knight
               Resources Ltd  

This is SCHEDULE “E” to
the Letter Agreement between 

TECK COMINCO AMERICAN INCORPORATED, 

WHITE KNIGHT RESOURCES LTD.and WHITE KNIGHT GOLD (U.S.) INC.  

dated for reference October 20, 2004 

     

CONFIRMATION OF LEASE  

RECITALS: 

	A.  	  	The
undersigned, Donald K. Jennings (hereafter “Lessor”), whose
               mailing address is P.O. Box 2663, Elko, Nevada 89803-2663, entered an
agreement                with White Knight Gold (U.S.) Inc. (hereafter “Lessee”)
of 4790                Caughlin Parkway #137, Reno, Nevada 89509-0907 and White Knight
Resources Ltd.                (hereafter “WKR”) of Suite 922, 510 West Hastings
Street, Vancouver,                British Columbia, Canada, V6B 1L8 dated November 10,
2003 and identified as                “Mining Lease and Option to Purchase – Fye
Claims” (hereafter                “Lease”).  

	B.  	  	Lessee
and WKR will enter an agreement (hereafter “Agreement”) with
               Teck Cominco American Incorporated (hereafter “TCAI”) of 15918
East                Euclid Avenue, Spokane, Washington 99216-1815 whereby TCAI in
consideration of                expenditures on exploration and/or development on the
property covered by the                Lease (hereafter “Property”), and other
property adjacent to or in the                vicinity of the Property, and for other
consideration may earn a 51% or greater                interest in the Lessee’s
interest in the Lease and Property.  

	C.  	  	Lessor
understands that for the duration of the Agreement TCAI will assume
               responsibility for the payments of the Annual Minimum Advance Royalties,
               Production Royalties, Minimum Exploration Obligations and other payments
               required by the Lease and for keeping the Property in good standing and
will                conduct exploration and/or development work on the Property, and on
property                adjacent to or in the vicinity of the Property, and that such
actions by TCAI                may benefit Lessor by enhancing the value of the Property
and providing further                assurance to Lessor with respect to the payments
required by the Lease.  

In consideration of the foregoing and
all other benefits that may accrue to Lessor from the Agreement, and for other valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, Lessor agrees
as follows: 

	1  	  	Lessor
confirms that there is no current default under the Lease, or that any default will arise
from the passage of time due to conditions now existing under the Lease, and that the
Lease is in full force and effect.  

	2  	  	Lessor
recognizes that the Agreement provides TCAI with the right to earn a 51% or greater
interest in Lessee’s interest in the Lease and Property and agrees to cooperate in
the transfer or assignment of such interest to TCAI as directed by TCAI and Lessee.  

	3  	  	During
the term of the Agreement and any other agreements between Lessee, WKR and TCAI with
respect to the exploration and/or development of the Property, Lessor agrees to provide
to TCAI all notices, including any notices of default, required to be given or otherwise
given under the Lease at the following addresses:  

	  	
Teck Cominco American Incorporated

Post Office Box 3087

Spokane, Washington 99220 

E-2 

	  	
Attention:   Legal Department

Fax:    509-45904400 

	  	
with
a copy to 

	  	
Teck Cominco American Incorporated

c/o Teck Cominco Ltd.

500-200 Burrard St.

Vancouver, British Columbia,

Canada V6C 3L7

Fax:  604-687-6100 

	  	
All
notice shall given pursuant to Section 16 of the Lease.  

	4  	  	During
the term of the Agreement and any other agreements between Lessee, WKR and TCAI with
respect to the exploration and/or development of the Property, Lessor agrees that any
defaults under the Lease may be cured by Lessee or TCAI and Lessor will accept any
actions to cure any defaults from either Lessee or TCAI so long as such actions comply
with the terms and provisions of the Lease.  

	5  	  	During
the term of the Agreement and any other agreements between Lessee, WKR and TCAI with
respect to the exploration and/or development of the Property, Lessor agrees that it will
provide notice to TCAI in the event that Lessee proposes any modifications or amendments
to the Lease or notices a termination of the Lease or a change (including abandonment) to
the Property.  

	6  	  	During
the term of the Agreement and any other agreements between Lessee, WKR and TCAI with
respect to the exploration and/or development of the Property, Lessor agrees that if
Lessee should terminate the Lease or abandon any of the Property, it will offer a lease
or the abandoned Property to TCAI on substantially the same terms and conditions as those
in the Lease.  

	7  	  	During
the term of the Agreement and any other agreements between Lessee, WKR and TCAI with
respect to the exploration and/or development of the Property, Lessor acknowledges the
right of TCAI, its employees, consultants and contractors to be on the Property for the
purposes of exploration and development work and all activities related to such work and
agrees that TCAI has all rights to use the Property granted to Lessee by the Lease so
long as such use and the conduct of any operations on the Property complies with the
terms of the Lease.  

	8  	  	Lessor
agrees that exploration and/or development work done on property adjacent to or in the
vicinity of the Property and covered by the Agreement and expenditures incurred on such
property are for the benefit of the Property for purposes of Section 6 of the Lease.  

	9  	  	Lessor
agrees that it will require any assignee of its interest, or any part thereof, under the
Lease to accept and be bound by the terms hereof and that it is his intent that this
Confirmation of Lease bind his estate, administrators, executors, heirs, and legatees.  

	10  	  	Lessor
represents and covenants that the Property is owned solely by him and if married, that it
is his separate property and not the property of a marital community.  

	11  	  	Nothing
herein is intended to or modifies the terms and provisions of the Lease or Agreement. 

E-3 

In Witness Whereof, Lessor has
executed this Confirmation of Lease this ____ day of _______ 2004. 

LESSOR: 

Donald K. Jennings 

_____________________________EXHIBIT 4.14  

OPTION AGREEMENT 

THIS AGREEMENT MADE OF AS OF THE
30th DAY OF September, 2004 (the “Effective Date”). 

BETWEEN: 

	  	
CONSOLIDATED
ODYSSEY EXPLORATION INC., a company duly incorporated under the laws of
the Province of British Columbia, having a place of business at Suite 303, 595 Howe
Street, Vancouver, British Columbia, V6C 2T5;  

	  	
(“ODE”) 

AND: 

	  	
WHITE
KNIGHT GOLD (U.S.) INC., a company duly incorporated under the laws of Delaware
having a place of business at 121 Woodland Avenue, Suite 140, Reno,
Nevada, 89523;  

	  	
(“WKG”) 

AND: 

	  	
WHITE
KNIGHT RESOURCES LTD., a company duly incorporated under the laws of the
province of British Columbia, having a place of business at Suite 922, 510 West Hastings
Street, Vancouver, British Columbia, V6B 1L8.  

	  	
(“WKR”) 

WHEREAS: 

     A.    
          WKG is the registered and beneficial owner of 107 unpatented mineral claims (the
          “Property”), referred to by WKG as the New Pass Property, and located
          in Churchill County, State of Nevada, as more particularly described in Exhibit
          A attached hereto; 

     B.    
          WKG wishes to grant an option to ODE, and ODE wishes to acquire an option from
          WKG, to acquire a 50% interest in and to the interest of WKG in and to the
          Property upon the terms and conditions set forth in this Agreement; 

     C.    
          WKR is the registered and beneficial owner of the issued and outstanding shares
          of WKG and has agreed to give certain representations to ODE. 

2 

NOW THEREFORE THIS AGREEMENT
WITNESSES THAT in consideration of the covenants and agreements herein contained, the
receipt and sufficiency of which is hereby acknowledged, the parties hereto covenant and
agree each with the other (the “Agreement”) as follows: 

	1.  	   	Representations
and Warranties  

1.1     In order to induce ODE to enter
into this Agreement and complete its transactions contemplated hereunder, WKG and WKR
jointly and severally represent and warrant to ODE that to the best of their knowledge: 

	  	(a)  	  	WKG
is a company duly incorporated under the laws of the State of Delaware,
               validly exists and is in good standing with respect to its annual
corporate                filings;  

	  	(b)  	  	WKR:  

	  	  	(i)  	  	owns
all of the issued and outstanding shares of WKG;  

	  	  	(ii)  	  	is
a company duly incorporated under the laws of British Columbia, validly
               exists and is in good standing with respect to the filing of annual
reports;  

	  	(c)  	  	WKG
holds all licenses and permits that are required for carrying on its
               business in the manner in which such business has been carried on;  

	  	(d)  	  	WKG
is the registered and beneficial owner of the Property free and clear of all
               liens, charges and encumbrances of any kind whatsoever;  

	  	(e)  	  	the
Property has been validly staked, located, recorded and properly acquired by
               WKG in accordance with all applicable laws and regulations of the State of
               Nevada;  

	  	(f)  	  	the
Property is in good standing with respect to all filings and all taxes,
               charges and assessments have been paid in full as are required under all
               applicable laws and regulations of the State of Nevada;  

	  	(g)  	  	except
as provided for by this Agreement, there are no outstanding agreements or
               options of any kind whatsoever to acquire or purchase the Property or any
               interest in the Property of any kind whatsoever, and no person has any
royalty                or other interest of any kind whatsoever in the Property except as
provided for                herein;  

	  	(h)  	  	except
as provided for by this Agreement, to the best of the knowledge of WKG                and
WKR there are no adverse claims or challenges of any kind whatsoever,
               including without limitation, claims or challenges by native or  

3 

	  	
aboriginal
peoples, against or to the ownership of, or title to, the Property nor, to the best of
its knowledge, is there any basis therefor;  

	  	(i)  	  	except
as provided for by this Agreement, to the best of the knowledge of WKG                and
WKR, there are no outstanding environmental problems associated with the
               Property nor are there any outstanding obligations to reclaim or otherwise
               rehabilitate the land on which the Property is located;  

	  	(j)  	  	WKG
is legally entitled to hold the Property and WKG has good and sufficient
               right and authority to enter into this Agreement and to complete all of
its                transactions contemplated under this Agreement on the terms and
conditions                contained herein;  

	  	(k)  	  	the
Property is not the whole or substantially the whole of the undertaking of
               WKG and WKR does not require shareholder approval in order for WKG to
dispose of                the interest in the Property being disposed of pursuant to the
terms of this                Agreement;  

	  	(l)  	  	to
the best of the knowledge of WKG and WKR, there are no material actions,
               suits, judgments, investigations or proceedings of any kind whatsoever
               outstanding, pending or threatened against or affecting WKG at law or in
equity                or before or by any Federal, Provincial, State, Municipal or other
governmental                department, commission, board, bureau or agency of any kind
whatsoever and, to                the best of its knowledge, there is no basis therefor;  

	  	(m)  	  	to
the best of the knowledge of WKG and WKR, the execution and delivery of this
               Agreement, the performance of its obligations under this Agreement and the
               completion of its transactions contemplated under this Agreement will not:  

	  	  	(i)  	  	conflict
with, or result in the breach of or the acceleration of any                indebtedness
under, or constitute default under, the constating documents of WKG                or any
indenture, mortgage, agreement, lease, license or other instrument of any
               kind whatsoever to which WKG is a party or by which it is bound, or any
judgment                or order of any kind whatsoever of any Court or administrative
body of any kind                whatsoever by which it is bound: or  

	  	  	(ii)  	  	result
in the violation of any law or regulation of any kind whatsoever by WKG.  

1.2     The representations and
warranties of WKG and WKG contained in this Agreement shall remain in full force and
effect during the term of this Agreement and they shall also survive the Exercise Date (as
defined below) for a period of one year and remain in full force and effect during that
period. 

4 

1.3     In order to induce WKG to enter
into this Agreement and complete its transactions contemplated hereunder, ODE represents
and warrants to WKG that to the best of their knowledge: 

	  	(a) 	  	ODE
was and remains duly incorporated under the laws of British Columbia and:  

	  	  	(i) 	  	ODE
is a “reporting issuer” as that term is defined in the Securities
          Act;  

	  	  	(ii) 	  	ODE
is in good standing with respect to the filing of annual reports with the           B.C.
Registrar of Companies; and  

	  	  	(iii) 	  	ODE’s
common shares are listed and, as of the Effective Date, posted for           trading on
the TSX Venture Exchange (“TSX”);  

	  	(b)  	  	as
of the Effective Date the authorized share capital of ODE consisted of
               100,000,000 common shares without par value of which 23,268,818 common
shares                were issued and outstanding;  

	  	(c)  	  	ODE
holds all licenses and permits that are required for carrying on its
               business in the manner in which such business has been carried on;  

	  	(d)  	  	to
the best of the knowledge of ODE, there are no material actions, suits,
               judgments, investigations or proceedings of any kind whatsoever
outstanding,                pending or threatened against or affecting ODE at law or in
equity or before or                by any Federal, Provincial, State, Municipal or other
governmental department,                commission, board, bureau or agency of any kind
whatsoever and, to the best of                its knowledge, there is no basis therefor;  

	  	(e)  	  	to
the best of its knowledge, ODE is not in breach of any law, ordinance,
               statute, regulation, by-law, order or decree of any kind whatsoever;  

	  	(f)  	  	ODE
has good and sufficient right and authority to enter into this Agreement and
               complete its transactions contemplated under this Agreement on the terms
and                conditions set forth herein; and  

	  	(g)  	  	to
the best of its knowledge, the execution and delivery of this Agreement, the
               performance of its obligations under this Agreement and the completion of
its                transactions contemplated under this Agreement will not:  

	  	  	(i)  	  	conflict
with, or result in the breach of or the acceleration of any                indebtedness
under, or constitute default under, the Memorandum or Articles of                ODE or
any indenture, mortgage, agreement, lease,  

5 

	  	
license
 or other instrument of kind whatsoever to which ODE is a party or by which it is
bound, or any judgment or order of any kind whatsoever of any Court or administrative
body of any kind whatsoever by which ODE is bound; or  

	  	  	(ii) 	  	result
in the violation of any law or regulation of any kind whatsoever by ODE.  

1.4     The representations and
warranties of ODE contained in this Agreement shall remain in full force and effect during
the term of this Agreement and they shall also survive the Exercise Date (as defined
below) for a period of one year and remain in full force and effect during that period. 

	2.  	  	Option  

2.1     Subject to the terms of this
Agreement, WKG hereby grants to ODE the sole and exclusive right and option (the
“Option”) to acquire from WKG a 50% interest in all of WKG’s right, title
and interest in and to the Property free and clear of all liens, charges and encumbrances
of any kind. 

2.2     Subject to the terms of this
Agreement, in consideration of the grant of the Option by WKG to ODE, ODE shall, during a
four-year Earn-In Period commencing as of the Effective Date and terminating on the
Exercise Date (as defined below): 

	  	(a) 	  	pay
to WKG the sum of USD$500,000 as follows (the “Cash Payments”):  

	  	  	(i) 	  	the
sum of USD$50,000 upon execution of this Agreement;  

	  	  	(ii) 	  	the
additional sum of USD$75,000 on or before September 30, 2005;  

	  	  	(iii) 	  	the
additional sum of USD$125,000 on or before September 30, 2006;  

	  	  	(iv) 	  	the
additional sum of USD$250,000 on or before September 30, 2007;  

	  	(b) 	  	issue
to WKR 500,000 common shares of its capital stock as follows (the           “Share
Issuances”):  

	  	  	(i) 	  	100,000
shares within 10 days of receiving TSX Venture Exchange acceptance of           this
Agreement, if necessary;  

	  	  	(ii) 	  	an
additional 100,000 shares on or before September 30, 2005;  

	  	  	(iii) 	  	an
additional 100,000 shares on or before September 30, 2006; and  

6 

	  	  	(iv) 	  	an
additional 200,000 shares on or before September 30, 2007;  

	  	(c)  	  	expend,
on the exploration, development and mining of the Property, the sum of
               US$2,000,000 as follows (“Work Expenditures” as further defined
in                Exhibit B):  

	  	  	(i) 	  	USD$250,000
on or before September 30, 2005 (this expenditure is a Firm           Commitment);  

	  	  	(ii) 	  	an
additional USD$500,000 on or before September 30, 2006;  

	  	  	(iii) 	  	an
additional USD$600,000 on or before September 30, 2007; and  

	  	  	(iv) 	  	an
additional USD$650,000 on or before September 30, 2008.  

	  	
Notwithstanding
the above provisions of paragraph 2.2(c)(i), the obligation of ODE to incur the Firm
Commitment may be waived if ODE notifies WKG (“the Firm Commitment Notice”)
that a qualified person (“QP” – as defined in National Instrument 43-101)
retained by ODE has recommended that no further Work Expenditures be incurred in respect
to the Property and a QP retained by WKG confirms such opinion. The Firm Commitment
Notice must be given by ODE to WKG not later than 90 days prior to September 29, 2005.
Upon the Firm Commitment being waived, this Agreement will terminate immediately subject
to the provisions of paragraph 7.3 (a), (c), (d) and (e).  

	  	(d)  	  	commencing
with the costs due in 2004 and during the term of this Agreement, pay                the
annual land holding costs necessary to maintain the Property in good
               standing, including the costs to be paid to the Bureau of Land Management
and                all County costs.  

Upon ODE having fulfilled all of the
obligations required under subparagraphs 2.2(a), (b), (c) and (d), the Option shall be
deemed exercised by ODE on the date the last of such Cash Payments and Share Issuances
were made and Work Expenditure obligations were fulfilled (the “Exercise Date”)
and 50% of WKG’s right, title and interest in and to the Property shall vest in ODE
on the Exercise Date free and clear of all liens, charges and encumbrances of any kind
whatsoever. 

2.3     With respect to the Work
Expenditures referred to in subparagraph 2.2(c), ODE shall be the operator responsible for
completing the work programs and ODE shall: 

	  	(a)  	  	no
later than 30 days after the end of each 12 month period after the Effective
               Date, provide WKG with reports showing in reasonable detail the work
performed,                the expenditures incurred and the results obtained in the
preceding 12-month                period. WKG is entitled at its own risk and  

7 

	  	
expense
to visit the Property provided that such visits are duly coordinated to cause minimum
disruption to work programs. WKG has the right to review data pertaining to the Property
on site or at ODE’s offices provided that such review are coordinated with ODE. In
addition, ODE will forward copies of all assay and other analytical results to WKG within
30 days of receipt of same by ODE;  

	  	(b)  	  	Maintain
accounts of expenditures in accordance with generally accepted                accounting
standards, and legislative or regulatory requirements. Such accounts                must
be available for inspection and/or audit by WKG, at its cost, provided that
               10 days notice of such inspection is given to ODE.  

2.4     This Agreement and all of the
transactions contemplated hereunder are subject to all necessary approvals of the TSX
Venture Exchange on behalf of ODE. In the event that all such necessary approvals for this
Agreement and all of the transactions contemplated hereunder are not obtained by ODE
within 60 days of the Effective Date, this Agreement shall be deemed terminated and the
provisions of paragraph 7.3 of this Agreement shall apply accordingly. 

	3.0  	  	Property
Obligations  

3.1     ODE hereby acknowledges and
agrees that it is the responsibility of ODE to provide WKG with the funds to pay the land
holding costs necessary to keep the Property in good standing up to and including the
Exercise Date. 

3.2     ODE hereby covenants and agrees
with WKG that while this Agreement is in effect, ODE will not take any action, or fail to
take any action, where such action or failure to take action could lead to the termination
of the interest of WKG in and to the Property. 

3.3     Upon ODE acquiring a 50% interest
in and to the Property, WKG shall deliver to ODE duly executed recordable transfers
together with such supporting documents, if any, as are required to record and effect the
transfer of a 50% interest in and to the Property from WKG to ODE (the
“Transfers”). ODE shall be entitled to record the Transfers at its own cost with
the appropriate government office or offices to effect legal transfer of a 50% interest in
and to the Property into the name of ODE, provided that ODE shall hold its interest in the
Property subject to the terms of this Agreement. 

	4.  	  	Covenants
and Agreements  

4.1     WKG covenants and agrees with ODE
that during the term of this Agreement, ODE and its servants, agents and independent
contractors shall have the sole and exclusive right to explore, develop and mine the
Property including, but not limited to, the sole and exclusive right to: 

8 

	  	(a)  	  	enter
on the Property and have sole and exclusive and quiet possession thereof;  

	  	(b)  	  	do
such exploration, development and other mining work on the Property as ODE
               may deem advisable;  

	  	(c)  	  	bring
upon and erect upon the Property such buildings, plant, machinery and
               equipment as ODE in its sole discretion may deem advisable (the “Equipment
               and Fixtures”); and  

	  	(d)  	  	remove
from the Property and dispose of such reasonable quantities of rock,                ores,
minerals and metals for the purposes of bulk sampling, obtaining assays or
               making other tests as ODE in its sole discretion may deem advisable; and  

	  	(e)  	  	do
all such further acts as may be, from time to time, reasonably necessary to
               carry out the full intent and meaning of this Agreement.  

4.2     ODE covenants and agrees with WKG
that during the term of this Agreement, ODE will: 

	  	(a)  	  	to
the best of its ability, perform any work that it performs on the Property in
               a good and workmanlike fashion in accordance with sound mining and
engineering                practices and in accordance with all applicable laws and
regulations of all                applicable governmental authorities;  

	  	(b)  	  	be
responsible for all reclamation required by federal, state and local laws,
               rules and regulations, in connection with any activities or operations
conducted                by it or on its behalf on the Property during the Earn-In
Period. WKG will be                responsible for any existing reclamation obligations
pertaining to the Property,                and during the Earn-In Period shall perform
all such obligations in accordance                with applicable federal, state and
local laws, rules and regulations, except to                the extent that ODE notifies
WKG in writing that it wishes to use any surface                areas on the Property
where such reclamation obligations are outstanding, in                which case ODE will
assume such reclamation obligations. If ODE acquires a 50%                interest in the
Property, ODE’s reclamation obligations under this                paragraph 4.2(b)
will become obligations of the Venture;  

	  	(c)  	  	indemnify
WKG and WKR against, and save WKG and WKR harmless from, all costs,
               claims, liabilities, damages and expenses of any kind whatsoever that WKG
or WKR                may incur or suffer in relation to the Property;  

	  	(d) 	  	permit
WKG, or its representative, access to the Property at all reasonable           times duly
co-ordinated with ODE; and  

9 

	  	(e) 	  	use
its best efforts to obtain the TSX Venture Exchange acceptance of this
          Agreement.  

4.3          ODE and WKG covenant and
agree each with the other that: 

	  	(a)  	  	a
finder’s fee of CAD$20,000 is payable to Don Mosher upon receiving TSX
               Venture Exchange acceptance of this Agreement, and that fee will be paid
jointly                and equally by ODE and WKG, in either cash or share issuances at
each                party’s respective election;  

	  	(b)  	  	during
the term of this Agreement, all information concerning this Agreement or
               any matters arising from this Agreement shall be treated as confidential
by the                parties hereto and shall not be disclosed by either party hereto to
any other                party without the previous written consent of the other party
hereto, such                consent not to be unreasonably withheld, except to the extent
that such                disclosure may be necessary for observance of the requirements
of the securities                commissions, stock exchanges or other legal requirements
or for the                accomplishment of the purposes of this Agreement, and if a
party does not give a                definitive written reply to any request for
permission to disclose on the second                business day following the date
request for same is deemed delivered, consent to                such disclosure shall be
deemed to have been given. ODE and WKG further covenant                and agree to use
their best efforts to coordinate the timing of issuance of any                news
releases to be issued regarding a matter arising from or related to this
               Agreement or the Property;  

	  	(c)  	  	during
the Earn-In Period, ODE shall be responsible for making the payments
               necessary to maintain the Property in good standing by doing assessment
work or                making payments in lieu thereof, and by paying taxes and rentals
and performing                of all other actions which may be necessary in that regard,
(save and except as                otherwise provided for herein) provided that ODE will
provide all necessary                payments and filing material to WKG in a timely
manner and WKG will be                responsible for administering the payments and
filings.  

	  	(d)  	  	prior
to the Exercise Date, and except as otherwise set forth in this Agreement,
               neither WKG nor ODE shall sell, assign, transfer, mortgage, charge or
otherwise                encumber its interest in this Agreement, or any interest it may
acquire in the                Property, or any part thereof, in any manner whatsoever,
without the prior                written consent of the other of WKG and ODE; and  

	  	(e)  	  	notwithstanding
paragraph 4.3(d), both WKG and ODE shall, without the consent of                the
other, be entitled to assign their respective interests to a company (the
               “Parent”) that owns all of the issued and outstanding shares  

10 

	  	
of
WKG or ODE, respectively, to a wholly-owned subsidiary of the Parent or to a wholly-owned
subsidiary of WKG or ODE provided that the assignor will continue to be liable for all of
its obligations under this Agreement.  

	5.  	   	Vesting
of Interest  

5.1     Upon ODE earning a 50% interest
in the Property, WKR, WKG and ODE will enter into a joint venture agreement (the
“Joint Venture Agreement”) covering further activities at the Property. The
formal Joint Venture Agreement will generally follow the form of the Model Joint Venture
Agreements (Forms 5 and 5A) published by the Rocky Mountain Mineral Law Foundation, and
will contain the terms and provisions set forth in this Section 5, and such other terms
and conditions as are usual and customary for a transaction of this nature and mutually
agreeable (subject to an obligation on the part of each party to negotiate such other
terms and conditions in good faith) to the parties. Until the Joint Venture Agreement is
executed and delivered, the parties agree that they will be legally bound by the
provisions of this Section 5. ODE will be the Manager of the business relationship between
the parties (the “Venture”) under the Joint Venture Agreement and will be
compensated with a management fee calculated as defined in the Joint Venture Agreement
(and set at 10% during the exploration phase, 3% during the development phase, and 1%
during the mining phase). Decisions of the Venture will be made by a Management Committee
consisting of two representatives appointed by each of the Participants, and the vote of
the Manager shall control. 

5.2     Upon ODE earning a 50% interest
in the Property, ODE will have 60 days to elect to either: 

	  	(a)  	  	fund
its 50% share under the terms of a joint venture to be formed at that time
               pursuant to the Joint Venture Agreement; or  

	  	(b)  	  	enter
into a further option to earn an additional 10% interest (to 60% total)
               (the “Additional Interest”) in th e Property by completing a
               Feasibility Study (as defined in Exhibit C) on the Property.  

5.3     If ODE does not timely notify WKG
of ODE’s desire to earn the Additional Interest during the 60-day time period
referred to above, ODE shall have waived its right to earn the Additional Interest, and
the Venture will continue on a 50%-ODE/50%-WKG basis. If ODE makes the election in
paragraph 5.2(b), ODE must complete or arrange for the completion of a Feasibility Study
(as defined in the attached Exhibit C) at any time prior to the date three years after the
effective date of the Joint Venture Agreement (subject to force majeure, including
economic force majeure for any period(s) of time where the average London P.M. fix for
gold for any 60-day period is less than $290 per ounce, provided that in any event the
period for completion of the Feasibility Study may not be extended by more than one year
due to force majeure). ODE will fund all Venture operations through completion of the
Feasibility Study. Upon 

11 

completion of a Feasibility Study,
each Participant will fund project development according to its Participating Interest
percentage (60%-ODE/ 40%-WKG). 

5.4     Upon receipt by WKG of six copies
of a positive Feasibility Study, WKG will have a 180-day period to either elect to fund
the project in proportion to its Participating Interest or be diluted under the provisions
of this Agreement. During that 180-day period, ODE may continue to conduct Operations on
or for the benefit of the Property in such a manner as it seems fit, and, if WKG decides
not to dilute its interest, then it will promptly reimburse ODE for all expenditures made
by ODE on its behalf during that period. 

5.5      ODE’s Initial Contribution
to the Venture will be deemed to be equal to the actual amount of the ODE’s Work
Expenditures incurred during the Earn-In Period and thereafter through the point of
completion of a Feasibility Study (or an election by ODE not to complete the Feasibility
Study), and the amount of WKG’s combined Initial Contribution will be determined
based on the following formula (where WKG’s contribution equals x): 

	  	
50%   =    [Amount of ODE's Work Expenditures]

50%           
               
        X  

The fraction set forth above shall be
60%/40% if ODE earns the Additional Interest. 

5.6      If a Participant elects to
participate less than fully or not at all in a proposed Program and Budget, the standard
dilution formula set forth in Section 6.3 of Form 5A will apply. Once any
Participant’s Participating Interest is voluntarily reduced to less than 10%, that
Participant’s Participating Interest shall automatically be converted to a 2%
interest in Net Smelter Returns and shall not have any further Participating Interest in
the Venture. If a Participant defaults in contributing to an approved Program and Budget,
then, among the remedies available to it, the non-defaulting Participant may choose to
have the defaulting Participant’s Participating Interest reduced in accordance with
the standard dilution formula plus a penalty of 50% (if the default occurs with respect to
an approved Program and Budget which covers primarily exploration activities), or to have
the defaulting Participant forfeit its entire interest in the Venture (if the default
occurs with respect to an approved Program and Budget which covers primarily development
and/or mining activities), in which case the defaulting Participant shall have the right
to recover from the applicable percentage of Net Smelter Returns set forth above an amount
equal to the positive balance in the defaulting Participant’s Equity Account. 

5.7      During the periods covered by
paragraphs 5.3 and 5.4 above, ODE shall have no obligation to prepare or provide the other
Participants with the opportunity to comment on Programs and Budgets, until it has earned
the Additional Interest. Until it has earned the Additional Interest, however (or until it
has elected not to acquire that Additional Interest), ODE shall be obligated to conduct
operations generally in accordance with the standards applicable to the Manager under the
Joint Venture 

12 

Agreement (provided that until that time, ODE shall not
be obligated to refer any matters to the Management Committee or to seek Management
Committee approval for any decisions with respect to operations on the Property). 

5.8      The parties agree to make the
same representations and warranties set forth in Section 1 above, effective as of the
effective date of the Joint Venture Agreement. 

5.9      The parties agree that each of
them shall be responsible for their share of liabilities and obligations of the Venture
(including without limitation environmental liabilities and obligations), equivalent to
their Participating Interests in the Venture at the time such obligations or liabilities
are incurred or accrued, notwithstanding any subsequent reduction or conversion of their
Participating Interests. 

5.10      All capitalized terms used in
this Section 5 and not defined herein will have the meaning ascribed to them in Form 5A. 

	6.  	  	Area
of Interest  

6.1      If at any time during the term of
this Agreement either party stakes or otherwise acquires, directly or indirectly, any
right to or interest in any mineral claim, license, lease, grant, concession, permit,
patent or other mineral property interest of any kind whatsoever (the “Holding”)
located wholly or partially within two miles of the external perimeter of the Property (as
of the Effective Date), the acquiring party (the “Acquiror”) shall forthwith
give written notice to the other party of the acquisition of such Holding and all details
with respect to the nature and cost of acquisition of the Holding and the Acquiror shall
offer a 50% interest in the Holding to the other party at a price not exceeding 50% of the
cost of such acquisition (to be paid, as to a 50% interest, in cash when any payments
related to the acquisition are due to be made by the Acquiror) and such interests will, if
accepted in writing by the other party, be subject to the terms of this Agreement. The
other party shall have 30 days from the date such notice is deemed delivered to it within
which to accept the offer to acquire the interest in the Holding and render payment of 50%
of the costs of such acquisition paid to that date by the Acquiror, and if such offer is
not accepted and payment in respect thereof not made within such period of 30 days, the
Acquiror shall be free to retain absolutely or dispose of the Holding without further
advice to, or consultation with, the other party. 

	7.  	  	Termination  

7.1      If at any time prior to the
Exercise Date ODE fails to perform any of its obligations under this Agreement, WKG may
terminate this Agreement provided that: 

	  	(a)  	  	WKG
has first delivered to ODE written notice of such default containing
               particulars of the obligation which ODE has not performed; and  

13 

	  	(b)  	  	ODE
has not, within 30 days of the date such written notice is deemed delivered
               to it, cured such default or commenced proceedings to cure such default.  

There is no default notice required
on any Cash Payments due, and if a Cash Payment is not made on or before the due date, WKG
may terminate this Agreement immediately. With respect to all other obligations under this
Agreement, WKG may terminate this Agreement at any time after ODE has failed to comply
with subparagraph 7.1(b) above upon delivering written notice of such termination to ODE
and termination shall be effective on the date such notice is deemed delivered and the
provisions of paragraph 7.3 shall apply accordingly. 

7.2      ODE may terminate this Agreement
at any time upon delivering written notice of such termination to WKG and termination
shall be effective on the date such notice is deemed delivered and the provisions of
paragraph 7.3 shall apply accordingly. 

7.3      In the event that this Agreement
terminates pursuant to paragraph 2.4, 7.1 or 7.2, all of ODE’s obligations under this
Agreement shall terminate on the date such notice is deemed delivered, or if terminated by
operation of paragraph 2.4 herein on the date the Agreement is deemed terminated, (the
“Termination Date”), provided that ODE shall: 

	  	(a)  	  	remain
obligated to make any Cash Payments which are due and owing to WKG prior
               to and including the day before the Termination Date;  

	  	(b)  	  	remain
obligated to complete the Firm Commitment described in subparagraph
               2.2(c)(i), and if ODE fails to expend the Firm Commitment on the
exploration,                development and mining of the Property, it will pay the
shortfall of the Firm                Commitment by cash to WKG;  

	  	(c)  	  	if
the notice of termination is given after May 31 in any year, remain obligated
               to fulfill any obligations to be fulfilled for that calendar year,
including                performance of annual drilling commitments and payment of the
annual holding                costs to keep the Property in good standing;  

	  	(d)  	  	deliver
to WKG within 60 days of its request, all data, reports and samples
               pertaining to the Property, together with a comprehensive report on any
work                carried out by ODE on the Property; and  

	  	(e)  	  	have
the right to remove from the Property, within the 12 month period
               commencing from the Termination Date and at its own costs, all of its
Equipment                and Fixtures.  

7.4      Notwithstanding any other term of
this Agreement, ODE may abandon its legal and beneficial interest in any claim or claims
comprising the Property (including any additional claims acquired under the terms of this
Agreement) at any time by 

14 

notifying WKG of
its intention to do so and by
delivering to WKG a duly executed recordable transfer or transfers of such claim or
claims, together with such supporting documents, if any, as are required to record and
effect the transfer of such claim or claims from ODE to WKG, which transfers shall provide
for the transfer of the claims from ODE to WKG. The abandoned claim or claims shall cease
to be governed by the terms of this Agreement from the date such transfer or transfers are
deemed delivered to WKG by ODE. 

	8.  	  	Force
Majeure  

8.1    
      “Force Majeure” shall mean
any one or more of the following events: 

	  	(a) 	  	an
act of God;  

	  	(b) 	  	a
war, revolution, insurrection, riot, blockade, or any other unlawful act
          against public order or authority;  

	  	(c) 	  	a
strike, lockout, or other industrial disturbance;  

	  	(d)  	  	a
storm, fire, flood, explosion or lightning:  

	  	(e)  	  	the
failure to obtain the approval or any other government, governmental agency,
               commission, board or other tribunal or stock exchange having jurisdiction
on the                circumstances as may be required to the conduct of operations
hereunder or any                governmental, legal restraint or stock exchange imposed
upon such operation; and  

	  	(f)  	  	any
other event which is not reasonably within the control ODE.  

8.2      If ODE is prevented or delayed by
Force Majeure in complying with any of the provisions of this Agreement at any time during
the term of this Agreement, then, if ODE promptly gives written notice of the Force
Majeure including reasonably full written particulars thereof, each of the dates referred
to in paragraph 2.2 shall, following the occurrence of the Force Majeure, be extended by
an amount equal to the number of days as a result of the Force Majeure. 

	9.  	  	Arbitration  

9.1      The parties hereto agree that all
questions or matters in dispute with respect to this Agreement shall be submitted to
arbitration pursuant to the terms hereof. 

9.2      It shall be a condition precedent
to the right of any party hereto to submit any matter to arbitration pursuant to the
provisions hereof that any party intending to refer any matter to arbitration shall have
given prior written notice of its intention to do so to the other party together with
written particulars of the matte in dispute. On the expiration of 10 days from the date
such notice is deemed delivered, the party who gave 

15 

such notice may proceed to refer the
dispute to arbitration as provided in paragraph 9.3 hereof. 

9.3      The party desiring arbitration
shall appoint one arbitrator, and shall notify the other party of such appointment, and
the other party shall, within 15 days after such notice is deemed delivered, appoint an
arbitrator, and the two arbitrators so named, before proceeding to act, shall, within 30
days of the appointment of the last appointed arbitrator, unanimously agree on the
appointment of a third arbitrator to act with them and be chairman of the arbitration
herein provided for. If the other party shall fail to appoint an arbitrator within 15 days
after notice of the appointment of the first arbitrator is deemed delivered, the first
arbitrator shall be the only arbitrator. If the two arbitrators appointed by the parties
shall be unable to agree on the appointment of the chairman, the chairman shall be
appointed under the provisions of the Commercial Arbitration Act (British
Columbia). Except as specifically otherwise provided in this paragraph, the arbitration
herein provided for shall be conducted in accordance with such Act. The chairman, or in
the case where only one arbitrator is appointed, the single arbitrator, shall fix a time
and place in Vancouver, British Columbia for the purpose of hearing the evidence and
representations of the parties, and he shall 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 single
arbitrator, or the arbitrators, as the case may be, shall make an award and reduce the
same to writing, and deliver one copy thereof to each of the parties. The expense of the
arbitration shall be paid as specified in the award. 

9.4      The parties agree that the award
of a majority of the arbitrators, or in the case of a single arbitrator, of such
arbitrator, shall be final and binding upon each of them. 

	10.  	  	General  

10.1      Time and each of the terms and
conditions of this Agreement shall be of the essence of this Agreement and any waiver by
the parties of this paragraph 10.1 or any failure by them to exercise any of their rights
under this Agreement shall be limited to the particular instance and shall not extend to
any other instance or matter in this Agreement or otherwise affect any of their rights or
remedies under this Agreement. 

10.2      The Exhibits to this Agreement
are incorporated by reference and the recitals to this Agreement constitute a part of this
Agreement. 

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

10.4                  The headings in
this Agreement are for reference only and do not constitute terms of the Agreement. 

16 

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

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

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

10.8      Any notice, requests, demands
and other communication to be given under this Agreement shall be in writing and shall be
delivered by hand, email or by facsimile to the parties at their following respective
addresses: 

	  	  	  	To:  	  	
White Knight Gold (U.S.) Inc.

c/o 922, 510 West Hastings Street

Vancouver, British Columbia

V6B 1L8

Attention:   Megan Cameron-Jones

Facsimile:  (604) 681-0180

Email:   info@whiteknightres.com  

	  	  	  	                  To:  	  	
Consolidated Odyssey Exploration Inc.

c/o Suite 303, 595 Howe Street

Vancouver, British Columbia

V6C 2T5

Attention:  Joe DeVries

Facsimile:  (604) 718-2808

Email:   info@odysseyexplorations.com  

or to such other addresses as may be
given in writing by, and construed in accordance with the laws of the Province of British
Columbia. 

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

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

17 

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

	
THE CORPORATE SEAL OF 

CONSOLIDATED ODYSSEY 

EXPLORATION INC. was hereunto affixed

in the presence of: 

“Basil Pantages” 

_________________________________

Authorized Signatory 

“John Thornton” 

_________________________________

Authorized Signatory 
 
	
) 

) 

) 

) 

) 

) 

) 

) 

) 

) 

) 

) 

)

	

          
          
          c/s 

WHITE KNIGHT GOLD (U.S.) INC.

Per:

“John M. Leask”

_________________________________

Authorized Signatory 

	
THE CORPORATE SEAL OF WHITE 

NIGHT RESOURCES LTD. was hereunto 

affixed in the presence of: 

“John M. Leask” 

_________________________________

Authorized Signatory 

“Gordon P. Leask” 

_________________________________

Authorized Signatory 
 
	
) 

) 

) 

) 

) 

) 

) 

) 

) 

) 

) 

)

	

          
          
          c/s 

Exhibit A  

The Property 

Churchill County
Recording 

	
Claim Name 	
BLM Serial No. 	
Book 	Page 
	
Pass 1	 	
166821	 	
183	 	
270	 
	Pass 2	 	166822	 	183	 	271	 
	Pass 3	 	166823	 	183	 	272	 
	Pass 4	 	166824	 	183	 	273	 
	Pass 5	 	166825	 	183	 	274	 
	Pass 6	 	166826	 	183	 	275	 
	Pass 7	 	166827	 	183	 	276	 
	Pass 8	 	166828	 	183	 	277	 
	Pass 9	 	166829	 	183	 	278	 
	Pass 10	 	240386	 	207	 	74	 
	Pass 11	 	240387	 	207	 	75	 
	Pass 12	 	240388	 	207	 	76	 
	Pass 13	 	240389	 	207	 	77	 
	Pass 14	 	240390	 	207	 	78	 
	Pass 15	 	240391	 	207	 	79	 
	Pass 24	 	242043	 	208	 	339	 
	Pass 25	 	242044	 	208	 	340	 
	Pass 26	 	242045	 	208	 	341	 
	Pass 27	 	276275	 	222	 	919	 
	Pass 28	 	276276	 	222	 	920	 
	Pass 29	 	276277	 	222	 	921	 
	Pass 30	 	276278	 	222	 	922	 
	Pass 31	 	276279	 	222	 	923	 
	Pass 32	 	276280	 	222	 	924	 
	Pass 33	 	276281	 	222	 	925	 
	Pass 34	 	276282	 	222	 	926	 
	Pass 35	 	276283	 	222	 	927	 
	Pass 36	 	276284	 	222	 	928	 
	Pass 83	 	313388	 	237	 	859	 
	Pass 84	 	313389	 	237	 	860	 
	Pass 85	 	313390	 	237	 	861	 
	Pass 86	 	313391	 	237	 	862	 
	Pass 87	 	313392	 	237	 	863	 
	Pass 88	 	313393	 	237	 	864	 
	Pass 89	 	313394	 	237	 	865	 
	Pass 90	 	313395	 	237	 	866	 
	Pass 91	 	313396	 	237	 	867	 
	Pass 92	 	313397	 	237	 	868	 
	Pass 94	 	313399	 	237	 	870	 
	Pass 95	 	313400	 	237	 	871	 
	Pass 96	 	313401	 	237	 	872	 
	Pass 97	 	313402	 	237	 	873	 

2 

	
Claim Name 	
BLM Serial No. 	
Book 	Page 
	Pass 99	 	313404	 	237	 	875	 
	Pass 101	 	313406	 	237	 	877	 
	Pass 103	 	313408	 	237	 	879	 

	
Claim Name 	
BLM Serial No. 	
Document No. 
	
NP 16	 	
698322	 	
281379	 
	NP 17	 	698323	 	281380	 
	NP 18	 	698324	 	281381	 
	NP 19	 	698325	 	281382	 
	NP 20	 	698326	 	281383	 
	NP 21	 	698327	 	281384	 
	NP 22	 	698328	 	281385	 
	NP 23	 	698329	 	281386	 
	NP 53	 	698330	 	281387	 
	NP 54	 	698331	 	281388	 
	NP 55	 	698332	 	281389	 
	NP 56	 	698333	 	281390	 
	NP 57	 	698334	 	281391	 
	NP 58	 	698335	 	281392	 
	NP 59	 	698336	 	281393	 
	NP 60	 	698337	 	281394	 
	NP 61	 	698338	 	281395	 
	NP 62	 	698339	 	281396	 
	NP 67	 	698344	 	281401	 
	NP 68	 	698345	 	281402	 
	NP 69	 	698346	 	281403	 
	NP 70	 	698347	 	281404	 
	NP 71	 	698348	 	281405	 
	NP 72	 	698349	 	281406	 
	NP 73	 	698350	 	281407	 
	NP 74	 	698351	 	281408	 
	NP 75	 	698352	 	281409	 
	NP 76	 	698353	 	281410	 
	NP 77	 	698354	 	281411	 
	NP 78	 	698355	 	281412	 
	NP 100	 	698356	 	281413	 
	NP 102	 	698357	 	281414	 
	NP 104	 	698358	 	281415	 
	NP 107	 	698361	 	281418	 
	NP 109	 	698363	 	281420	 
	NP 110	 	698364	 	281421	 
	NP 111	 	698365	 	281422	 
	NP 112	 	698366	 	281423	 
	NP 113	 	698367	 	281424	 
	NP 114	 	698368	 	281425	 
	NP 115	 	698369	 	281426	 
	NP 116	 	698370	 	281427	 
	NP 117	 	698371	 	281428	 

3 

	
Claim Name 	
BLM Serial No. 	
Document No. 
	NP 118	 	698372	 	281429	 
	NP 119	 	698373	 	281430	 
	NP 120	 	698374	 	281431	 
	NP 121	 	698375	 	281432	 
	NP 122	 	698376	 	281433	 
	NP 123	 	698377	 	281434	 
	NP 125	 	698379	 	281436	 
	NP 127	 	698381	 	281438	 
	NP 128	 	698382	 	281439	 
	NP 129	 	698383	 	281440	 
	NP 205	 	698459	 	281516	 
	NP 206	 	698460	 	281517	 
	NP 241	 	698477	 	281534	 
	NP 242	 	698478	 	281535	 
	NP 243	 	698479	 	281536	 
	NP 244	 	698480	 	281537	 
	NP 245	 	698481	 	281538	 
	NP 246	 	698482	 	281539	 
	N 16	 	795708	 	318549	 

Exhibit B  

        “Work
Expenditures” shall mean and include all costs or fees, expenses, liabilities and
charges paid or incurred by ODE which are directly related to the exploration, development
and mining of the Property conducted during the Earn-In Period, including without
limitation: 

        (a)              All
costs and expenses incurred in conducting exploration and prospecting
          activities on or in connection with the Property, including, without
limitation,           the preparation of feasibility studies, the active pursuit of
required federal,           state or local authorizations or permits and the performance
of required           environmental protection or reclamation obligations, the building,
maintenance           and repair of roads, drill site preparation, drilling, tracking,
sampling,           trenching, digging test pits, shaft sinking, acquiring, diverting
and/or           transporting water necessary for exploration, logging of drill holes and
drill           core, completion and evaluation of geological, geophysical, geochemical
or other           exploration data and preparation of interpretive reports, and
surveying and           laboratory costs and charges (including assays or metallurgical
analyses and           tests);  

        (b)              All
expenses incurred in conducting development activities on or in connection           with
the Property, the active pursuit of required federal, state or local
          authorization or permits and the performance of required environmental
          protection or reclamation obligations, pre-stripping and stripping, the
          construction and installation of a mill, leach pads or other beneficiation
          facilities for valuable minerals, and other activities, operations or work
          performed in preparation for the removal of valuable minerals from the
Property;  

        (c)              All
costs incurred by ODE in locating mining claims within the Area of Interest,
          including costs and expenses incurred by ODE in conducting negotiations and due
          diligence, attorneys’ fees, and all moneys paid by ODE in acquiring and
          holding such property interests;  

        (d)              All
costs incurred in performing any reclamation or other restoration or           clean-up
work required by any federal, state or local agency or authority, and           all costs
of insurance obtained or in force to cover activities undertaken by or           on ODE’s
behalf on the Property;  

        (e)              Salaries,
wages, expenses and benefits of ODE’s employees or consultants           engaged in
operations directly relating to the Property, including salaries and           fringe
benefits of those who are temporarily assigned to and directly employed           on work
relating to the Property for the periods of time such employees are           engaged in
such activities and reasonable transportation expenses for all such           employees
to and from their regular place of work to the Property;  

        (f)              All
costs incurred in connection with the preparation of pre-feasibility studies           or
a Feasibility Study and economic and technical analyses pertaining to the
          Property, whether carried out by ODE or by third parties under contract with
          ODE;  

2 

        (g)              Taxes
and assessments, other than income taxes, assessed or levied upon or           against
the Property or any improvements thereon situated thereon for which ODE           is
responsible or for which ODE reimburses WKG;  

        (h)              Costs
of material, equipment and supplies acquired, leased or hired, for use in
          conducting exploration or development operations relating to the Property;
          provided, however, that equipment owned and supplied by ODE shall be chargeable
          at rates no greater than comparable market rental rates available in the area
of           the Property;  

        (i)              Costs
and expenses of establishing and maintaining field offices, camps and           housing
facilities;  

        (j)              Costs
incurred by ODE in examining and curing title to any part of the Property           or
any interest in real property within the Area of Interest, in maintaining the
          Property or any interest in real property within the Area of Interest whether
          through the performance of assessment work, the payment of claim maintenance
          fees or otherwise (including without limitation the Initial Payment), in making
          required payments or performing other required obligations under the Agreement,
          in satisfying surface use or damage obligations to landowners, or in conducting
          any analyses of the environmental conditions at the Property; and  

        (k)              An
additional 10% as overhead on all costs and expenses described in (a) through
          (j) above, except for mine development and construction, for which a 3%
overhead           charge will apply.  

Exhibit C  

        “Feasibility
Study” shall mean a report, prepared by an independent third party, to ascertain
whether valuable minerals from the Property can profitably be extracted, treated and sold
in circumstances that would provide reasonable long term returns, and shall include,
without limiting the generality of the foregoing, (a) reasonable assessments of the
size and quality of the mineable reserves of minerals; (b) reasonable assessments of
the amenability of the minerals to metallurgical treatment; (c) a mine plan and
reasonable descriptions of the work, equipment and supplies required to bring the
prospective ore body or deposit of minerals into production, including beneficiation,
environmental baseline, health and permitting requirements, and the estimated costs
thereof; (d) a marketing plan for marketing products, and the assumed terms of sale
and prices to be received; (e) conclusions and recommendations regarding the economic
feasibility and timing for bringing the prospective ore body or deposit of minerals into
commercial production, taking into account items (a) through (d) above; and (f) such
other information in such form and level of detail as may be appropriate and necessary to
allow a bank or other lending institution familiar with the mining industry to make a
decision as to whether to loan funds for such operations. 

Exhibit D  

        “Net
Smelter Returns” are defined as the gross revenues actually received by ODE (the
“Payor”) from a smelter, refiner or other ore buyer from the sales of any
valuable minerals extracted and produced from the Property, less (i) all costs to
Payor of weighing, sampling, determining moisture content and packaging such valuable
minerals and of loading and transporting the same from the Property to the point of sale,
including insurance and in-transit security costs; (ii) all smelter costs and all
charges and penalties imposed by the smelter, refinery or purchaser; (iii) marketing
costs and commissions; and (iv) ad valorem taxes, severance taxes, and any other
taxes, charges or assessments as are imposed upon Payor’s production or operations
(including without limitation royalties or abandoned mine reclamation fees that may become
payable to the federal government) except for income taxes and Nevada net proceeds taxes,
which shall be the separate responsibility of each of WKG and Payor, respectively. For
purposes of calculating Net Smelter Returns in the event Payor elects not to sell any
portion of the gold or silver extracted and produced from the Property, but instead elects
to have the final product of any such gold or silver credited to or held for its account
with any smelter, refiner or broker, such gold will be deemed to have been sold at the
Quoted Price on the day such gold is actually credited to or placed in Payor’s
account, and such silver will be deemed to have been sold at the Quoted Price on the day
such silver is actually credited to or placed in Payor’s account. The “Quoted
Price” is the price per ounce of gold and/or silver (as the case may be) as quoted
(for gold) on the London P.M. fix (or the London A.M. fix if no London P.M. fix is
available), or (for silver) on the London fix for silver, in each case as published in the
Financial Times (or such other source as is mutually agreeable if the information is not
available from the Financial Times) on the day such gold and/or silver is actually
credited to or placed in Payor’s account.

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