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8Filed by Automated Filing Services Inc. (604) 609-0244 - Wildcat Silver Corp. - Agree Share Purchase Agreement

SHARE PURCHASE AGREEMENT BETWEEN

WILDCAT SILVER CORPORATION

- and -

DIAMOND HILL INVESTMENT CORP.

May 18, 2006

TABLE OF CONTENTS

	  	  	Page 
	 	 	 
	1. 	INTERPRETATION 	1 
	 	 	 
	2. 	REPRESENTATIONS AND WARRANTIES 	7 
	 	 	 
	3. 	COVENANTS OF THE VENDOR 	19 
	 	 	 
	4. 	COVENANTS OF THE PURCHASER 	19 
	 	 	 
	5. 	PURCHASE AND SALE 	20
	 	 	 
	6. 	PURCHASE PRICE AND DELIVERY 	20 
	 	 	 
	7. 	CLOSING 	21
	 	 	 
	8. 	HOLD PERIOD AND RESALE RESTRICTIONS AND VENDOR’S COVENANT
      REGARDING RESALE OF SHARES 	  22
	 	 	 
	9. 	REORGANIZATION 	23 
	 	 	 
	10. 	GENERAL PROVISIONS 	23 
	 	 	 
	11. 	APPLICABLE LAW 	23 
	 	 	 
	12. 	ARBITRATION 	24 
	 	 	 
	13. 	NOTICES 	24 
	 	 	 
	14. 	CONFIDENTIAL INFORMATION 	25 
	 	 	 
	15. 	COUNTERPARTS 	26 
	 	 	 
	SCHEDULE “A” ASSETS OF THE CORPORATION	 28
	 	 
	SCHEDULE “B” THE PROPERTY 	  29
	 	 
	SCHEDULE “C” MATERIAL CONTRACTS OF THE CORPORATION
      AND SUBSIDIARIES 	30
	 	 
	SCHEDULE “D” FINANCIAL STATEMENTS OF CORPORATION
      	31 
	 	 
	SCHEDULE “E” FORM OF SHAREHOLDERS’ AGREEMENT
      	32 

SHARE PURCHASE AGREEMENT

SHARE PURCHASE AGREEMENT made and dated for reference the 18
day of May, 2006.

BETWEEN:

WILDCAT SILVER CORPORATION, a
company duly
incorporated and validly subsisting under the laws of
British
Columbia and having an office at Suite 400 – 837 West
Hastings

  Street, Vancouver, British Columbia, V6C 3N6

(the “Purchaser”)

AND

DIAMOND HILL INVESTMENT CORP., a
corporation duly
incorporated and validly subsisting under the laws of
British
Columbia, and having an office at 5903 Larch Street,
Vancouver,

  British Columbia, V6M 4E5

(the “Vendor”)

WHEREAS:

	A. 	
      The Vendor is the legal and beneficial owner of all of
      the issued and outstanding common shares in the capital of Arizona
      Minerals Inc. (the “Corporation”); and

	 	 
	B. 	
      The Vendor has agreed to sell to the Purchaser, and the
      Purchaser has agreed to purchase from the Vendor, 80% of the Vendor’s
      shares in the capital of the Corporation, being 80% of the issued and
      outstanding common shares of the Corporation, on the terms and conditions
      set out herein.

NOW THEREFORE THIS AGREEMENT WITNESSES that for good and
valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, and of the premises, covenants and agreements herein set forth,
the parties hereto covenant and agree each with the other as follows:

	1. 	
      INTERPRETATION

1.1            For
  the purposes of this Agreement, unless the context otherwise requires, the following
  words and phrases will have the meanings hereinafter ascribed to them:

	 	(a) 	
      “Agreement” means this share
      purchase agreement, including the recitals and all schedules hereto, as
      amended and supplemented;

	 	 	 
	 	(b) 	
      “Applicable Law” means any domestic or foreign statute,
      law (including the common law), ordinance, rule, regulation, restriction,
      regulatory policy or

- 2 -

guideline, by-law (zoning or
otherwise), or Order, or any consent, exemption, approval or license of any
Governmental Authority that applies, in whole or in part, to the parties hereto,
the Purchased Shares or the business, Assets, operations or affairs of the
Corporation;

	 	(c) 	
      “Assets” means all tangible assets such as real estate,
      fixtures and chattels and intangible things such as contractual rights,
      including without limitation the Corporation’s interest in or arising out
      of the Material Contracts, mineral rights, and intellectual property
      rights and benefits, held by the Corporation as set forth in Schedule
      “A”;

	 	 	 	 
	 	(d) 	
      “Associated Company” means:

	 	 	 	 
	 		(i) 	
      any corporation which owns directly or through any other
      means more than 30% of the outstanding capital stock of a party
    hereto,

	 	 	 	 
	 		(ii) 	
      any corporation of which a party hereto owns directly or
      through any other means more than 30% of the outstanding capital stock,
      and

	 	 	 	 
	 		(iii) 	
      any corporation of which either of the corporations
      referred to in paragraphs (i) and (ii) owns directly or through any other
      means more than 30% of the outstanding capital stock;

	 	 	 	 
	 	(e) 	
      “Business Corporations Act” means the Business
      Corporations Act, S.B.C. 2002, c.57;

	 	 	 	 
	 	(f) 	
      “Business Day” means any day other than Saturday, Sunday
      or any other day which is a legal holiday in Vancouver, British Columbia,
      on which commercial banking institutions in Vancouver, British Columbia
      are open for the transaction of business;

	 	 	 	 
	 	(g) 	
      “Closing” means the delivery of all prescribed documents,
      certificates and agreements in connection with the purchase and sale of
      the Purchased Shares and related transactions, and “Closing Date” means
      the date upon which Closing occurs, as provided in section 7;

	 	 	 	 
	 	(h) 	
      “Commercial Production” has the meaning assigned to that
      term in the Shareholders’ Agreement attached hereto as Schedule
  “E”;

	 	 	 	 
	 	(i) 	
      “Commissions” means the British Columbia Securities
      Commission and the Alberta Securities Commission;

	 	 	 	 
	 	(j) 	
      “Completion Date” means the effective date of the
      Reorganization;

	 	 	 	 
	 	(k) 	
      “Constating Documents” means the Memorandum, the Notice
      of Articles, the Articles, the Articles of Incorporation, the Articles of
      Arrangement, the Articles of Continuance, the Articles of Amalgamation, or
      other agreement or contract pursuant to which a body corporate is
      incorporated, arranged, continued or

- 3 -

amalgamated, as the case may be,
together with any amendments thereto, the by-laws of such corporation, any
special rights and restrictions associated with any class of shares and any
shareholders’ agreement which has been executed by such body corporate and which
governs in whole or in part the affairs of such body corporate;

	 	(l) 	
      “Corporation” means Arizona Minerals Inc. a corporation
      duly incorporated and validly subsisting under the laws of
  Nevada;

	 	 	 	 
	 	(m) 	
      “Corporation Share” means a common share with a par value
      of ONE TENTH (U.S.$0.001) United States Cent in the capital stock of the
      Corporation, as presently constituted;

	 	 	 	 
	 	(n) 	
      “Credit Agreement” means the credit agreement dated March
      10, 2006, between Quest Capital Corp. and the Vendor;

	 	 	 	 
	 	(o) 	
      “Data” means all data, information and records, in
      whatever form and whether factual or interpretive, with respect to the
      Purchase Agreement and all work done on or with respect to the Property in
      connection with the exploration for and assessment of the mineral
      resources thereof pursuant to the rights granted by the Purchase
      Agreement, whether by or on behalf of the Corporation or its optionees,
      agents, consultants, a subsidiary or any joint venture partners, and in
      the possession or control of the Vendor or the Corporation, including
      all:

	 	 	 	 
	 		(i) 	
      drill logs, assay results, maps, field notes, sections,
      and plans,

	 	 	 	 
	 		(ii) 	
      prospecting, geochemical, geophysical, metallurgical and
      other reports, and

	 	 	 	 
	 		(iii) 	
      cores, sample pulps, sample rejects, rock and soil
      samples;

	 	 	 	 
	 	(p) 	
      “Drop Dead Date” means December 15, 2006.

	 	 	 	 
	 	(q) 	
      “Encumbrance” means any encumbrance of any kind
      whatsoever and includes a security interest, mortgage, lien, charge,
      hypothec, pledge, hypothecation, assignment, trust or deemed trust
      (whether contractual, statutory or otherwise arising), a voting trust or
      pooling agreement with respect to securities, an adverse claim or any
      other right, option or claim of others of any kind whatever, any covenant
      or other agreement, restriction or limitation, a deposit by way of
      security and an easement, restrictive covenant, agreement or right of way
      (registered or unregistered), restriction, encroachment, burden or title
      reservation of any kind with respect to real property;

	 	 	 	 
	 	(r) 	
      “Escrow Agreement” has the meaning assigned to it in
      section 6.4 hereof;

	 	 	 	 
	 	(s) 	
      “Exchange” means the Canadian Trading & Quotation
      System Inc.;

- 4 -

	 	(t) 	
      “Generally Accepted Accounting Principles” means Canadian
      generally accepted accounting principles which are applicable as at the
      date on which any calculation made hereunder is to be effective or as at
      the date of any financial statements referred to herein, as the case may
      be;

	 	 	 
	 	(u) 	
      “Governmental Authority” means any federal, provincial,
      state, municipal, county or regional governmental or quasi-governmental
      authority, domestic or foreign, and includes any ministry, department,
      commission, tribunal, bureau, board, administrative or other agency or
      regulatory body or instrumentality thereof;

	 	 	 
	 	(v) 	
      “Material Contracts” means those agreements to which the
      Corporation is a party as listed in Schedule “C” attached hereto and
      includes, without limitation, the Purchase Agreement;

	 	 	 
	 	(w) 	
      “Notice” means any citation, directive, order, claim,
      judgment, letter or other communication, written or oral, actual or
      threatened, from any Person;

	 	 	 
	 	(x) 	
      “Order” means any order (draft or otherwise), judgment,
      injunction, decree, award or writ of any court, tribunal, arbitrator,
      Governmental Authority or other Person;

	 	 	 
	 	(y) 	
      “Person” means an individual, a partnership, a body
      corporate, a corporation, a joint venture, a trust, an unincorporated
      association or other form of enterprise or legal entity or Governmental
      Authority;

	 	 	 
	 	(z) 	
      “Property” means those lands situate in the State of
      Arizona to which the Purchase Agreement pertains from time to time, as
      described in Schedule “B” attached hereto;

	 	 	 
	 	(aa) 	
      “Purchase Agreement” means the Purchase and Sale
      Agreement dated October 28, 2005 between the Corporation and ASARCO
      LLC.

	 	 	 
	 	(bb) 	
      “Purchased Shares” means 80% of the issued and
      outstanding Corporation Shares, being EIGHTY (80) Corporation
    Shares;

	 	 	 
	 	(cc) 	
      “Regulation S” means Regulation S made under the 1933
      Act;

	 	 	 
	 	(dd) 	
      “Reorganization” means the proposed reorganization of the
      Purchaser and its assets by way of a plan of arrangement or otherwise,
      whereby the assets of the Purchaser, including the Assets to be acquired
      under this Agreement, shall be split among two corporations (one being the
      Purchaser), such corporations each to be listed on the Exchange;

	 	 	 
	 	(ee) 	
      “Royalty Agreement” means the Royalty Agreement between
      the Corporation and the Vendor, pursuant to which the Corporation agrees
      to pay the Vendor a 2% Net Smelter Returns Royalty in respect of all
      Commercial Production on or from the Property;

	 	 	 
	 	(ff) 	
      “Securities Act” means the Securities Act,
      R.S.B.C. 1996, c. 418;

- 5 -

	 	(gg) 	
      “Share” means a common share without par value in the
      capital stock of the Purchaser, as presently constituted;

	 	 	 
	 	(hh) 	
      “Shareholders’ Agreement” means the Shareholders’
      Agreement in respect of the Corporation as set out in Schedule “E”
      attached hereto;

	 	 	 
	 	(ii) 	
      “Tax Act” means the Income Tax Act
  (Canada);

	 	 	 
	 	(jj) 	
      “Taxes” means all income, franchise, business, property,
      sales, use, value added, withholding, excise, alternate minimum, capital
      and other taxes required to be reported upon or paid to any domestic or
      foreign jurisdiction and all interest and penalties thereon;

	 	 	 
	 	(kk) 	
      “United States” means the United States, as that term is
      defined in Regulation S, which definition includes, but is not limited to,
      the United States of America and its territories and
possessions;

	 	 	 
	 	(ll) 	
      “U.S. Person” means a U.S. Person as that term is defined
      in Regulation S, which definition includes, but is not limited to, an
      individual resident in the United States and an estate or trust of which
      any executor, administrator, or trustee, respectively, is a U.S. Person,
      and any partnership or corporation organized or incorporated under the
      laws of the United States;

	 	 	 
	 	(mm) 	
      “Wildcat Financial Statements” means the audited
      financial statements of the Purchaser for the year ended June 30, 2005 and
      the unaudited financial statements for the three month period ended
      December 31, 2005, copies of which are available on SEDAR at www.sedar.com;

	 	 	 
	 	(nn) 	
      “Wildcat Shares” means the TWENTY-TWO MILLION FIVE
      HUNDRED THOUSAND (22,500,000) Shares to be issued to the Vendor on the
      exercise or deemed exercise of the Wildcat Special Warrants;

	 	 	 
	 	(oo) 	
      “Wildcat Special Warrants” means the TWENTY-TWO MILLION
      FIVE HUNDRED THOUSAND (22,500,000) Class “B” Special Warrants to be issued
      to the Vendor as part consideration for the Purchased Shares, each whole
      Wildcat Special Warrant of which entitled the holder to acquire one
      Wildcat Share for no additional consideration;

	 	 	 
	 	(pp) 	
      “1933 Act” means the United States Securities Act
      of 1933.

1.2           In
  this Agreement, except as otherwise expressed or provided, or as the context
  otherwise requires:

	 	(a) 	
      the headings and captions are provided for convenience
      only and will not form a part of this Agreement, and will not be used to
      interpret, define or limit the scope, extent or intent of this Agreement
      or any of its provisions;

- 6 -

	 	(b) 	
      the words “include” or “including” when following any
      general term or statement are not to be construed as limiting the general
      term or statement to the specific items or matters set forth or to similar
      items or matters, but rather as permitting it to refer to all other items
      or matters that could reasonably fall within its broadest possible
      scope;

	 	 	 
	 	(c) 	
      an accounting term not otherwise defined has the meaning
      assigned to it under, and all accounting matters will be determined in
      accordance with, Generally Accepted Accounting Principles as consistently
      applied;

	 	 	 
	 	(d) 	
      a reference to currency means Canadian currency unless
      specifically indicated otherwise;

	 	 	 
	 	(e) 	
      a reference to a statute includes every regulation made
      pursuant thereto, all amendments to the statute or to any such regulation
      enforced from time to time, and any statute or regulation that supplements
      or supersedes such statute or any such regulation;

	 	 	 
	 	(f) 	
      a reference to time or date is to the local time or date
      in Vancouver, British Columbia, unless specifically indicated
      otherwise;

	 	 	 
	 	(g) 	
      a reference to a particular corporation includes the
      corporation derived from the amalgamation of the particular corporation,
      or of a corporation to which such reference is extended by this paragraph
      (g), with one or more other corporations;

	 	 	 
	 	(h) 	
      a word importing the masculine gender includes the
      feminine or neuter and a word importing the singular includes the plural
      and vice versa; and

	           	 	 
	 	(i) 	
      a reference to “approval”, “authorization”, “consent”,
      “designation” or “notice” means written approval, authorization, consent,
      designation or notice unless specifically indicated
  otherwise.

1.3           The
  following Schedules are attached hereto and form a part hereof:

	 	Schedule “A” 	- 	Assets of the Corporation

	 	Schedule “B” 	- 	The Property 
	 	Schedule “C” 	- 	Material Contracts of
      Corporation 
	 	Schedule “D” 	- 	Financial Statement of Corporation 
	 	Schedule “E” 	- 	Form of Shareholders’ Agreement
    

1.4           No
  amendment, waiver, termination or variation of the terms, conditions, warranties,
  covenants, agreements and undertakings set out herein will be of any force or
  effect unless the same is reduced to writing duly executed by all parties hereto
  in the same manner and with the same formality as this Agreement is executed.

1.5           No
  waiver of any of the provisions of this Agreement will constitute a waiver of
  any other provision (whether or not similar) and no waiver will constitute a
  continuing waiver unless otherwise expressly provided.

- 7 -

1.6           Every
  provision of this Agreement is intended to be several and accordingly:

		(a) 	
      if any one or more of the provisions contained in this
      Agreement should be invalid, illegal or unenforceable in any respect, in
      any jurisdiction, the validity, legality and unenforceability of such
      provision will not in any way be affected or impaired thereby in any other
      jurisdiction, and the validity, legality and enforceability of any other
      provision contained herein will not in any way be affected or impaired
      thereby except that if, under reasonable construction of this Agreement as
      a whole, the applicability of the other provision presumes the validity
      and enforceability of the particular provision, the other provision will
      be deemed also to be invalid, illegal or unenforceable; and

	 	 	 
		(b) 	
      if any provision of this Agreement is invalid or
      unenforceable, the balance of this Agreement will be construed and
      enforced as if all invalid or unenforceable provisions and all provisions
      so deemed to be invalid or unenforceable were not contained
  herein.

	 	 	 
	2. 	
      REPRESENTATIONS AND
WARRANTIES

2.1           The
  Vendor warrants and represents to the Purchaser as follows:

Status and Capacity of Corporation

	 	(a) 	
      the Corporation is a valid and subsisting corporation
      duly incorporated and validly organized under the laws of Nevada
    and:

	 	 	 	 
	 		(i) 	
      is in good standing and up to date with all corporate
      filings and annual reports required under Applicable Laws,

	 	 	 	 
	 		(ii) 	
      has the corporate power and capacity to carry on the
      business now carried on by it and to own, lease or acquire the Assets or
      interests in the Assets now owned or leased by it or proposed to be
      acquired by it,

	 	 	 	 
	 		(iii) 	
      is duly qualified and registered to carry on business in
      each jurisdiction in which the conduct of its business or the ownership or
      leasing of the Assets makes such qualification necessary, and

	 	 	 	 
	 		(iv) 	
      is not in breach or default of any requirements under any
      Applicable Laws to which it is subject;

	 	 	 	 
	 	(b) 	
      the Corporation has no subsidiaries;

	 	 	 	 
	 	(c) 	
      the authorized share capital of the Corporation consists
      of ONE THOUSAND (1000) common shares, each with a par value of ONE TENTH
      (U.S.$0.001) of a United States Cent, of which a total of ONE HUNDRED
      (100) Corporation Shares are issued and
outstanding;

- 8 -

	 	(d) 	
      the Purchased Shares constitute 80% of the issued and
      outstanding Corporation Shares, the remaining 20% of which (the “Remaining
      Shares”) are held by the Vendor;

	 	 	 
	 	(e) 	
      the Purchased Shares are all validly issued as fully paid
      and non-assessable shares in the capital of the Corporation and are free
      and clear of all Encumbrances arising by, through or under the Corporation
      or the Vendor or otherwise;

	 	 	 
	 	(f) 	
      no Person has any right, present or future, contingent or
      absolute, to require the Corporation to increase its capital or to issue
      any security or share in its capital including Corporation Shares and, in
      particular, there are no outstanding securities of the Corporation which
      are convertible into Corporation Shares and there are no outstanding
      options on or rights to subscribe for any of the unissued Corporation
      Shares;

	 	 	 
	 	(g) 	
      the directors and officers of the Corporation are as
      follows, each of whom has been duly and validly appointed or
    elected:

Director

R. Stuart Angus

Officers

R. Stuart Angus – President, Secretary
and Treasurer

	 	(h) 	
      since the date of incorporation of the Corporation, the
      only business of the Corporation has been the acquisition of rights to
      minerals, and the exploration therefor, and such business has been carried
      on in the usual and ordinary course and the Corporation has not entered
      into any transaction out of the usual and ordinary course of such
      business;

	 	 	 	 
	 	(i) 	
      the Corporation does not have any assets other than the
      Assets;

	 	 	 	 
	 	(j) 	
      no action, suit, judgment, investigation, assessment,
      reassessment, litigation, determination, administrative or other
      proceeding, arbitration or dispute with any Governmental Authority, is in
      progress, pending or threatened by, on behalf of, or against the
      Corporation or any of the Assets or the Property and, to the knowledge of
      the Vendor, no state of facts exists which could reasonably constitute a
      basis therefor;

	 	 	 	 
	 	(k) 	
      the completion of the transactions contemplated hereby
      will not, insofar as related to the Corporation:

	 	 	 	 
	 		(i) 	
      conflict with, or result in a breach of, or violate any
      of the terms, conditions or provisions of the Constating Documents of the
      Corporation,

- 9 -

	 	(ii) 	
      conflict with, or result in a breach of, or violate any
      of the terms, conditions or provisions of any Applicable Law to which the
      Corporation is subject,

	 	 	 
	 	(iii) 	
      constitute or result in a breach of or a default under
      any Material Contract,

	 	 	 
	 	(iv) 	
      give to any Person, after the giving of notice or
      otherwise, any right of termination, cancellation or acceleration in or
      with respect to any Material Contract, or

	 	 	 
	 	(v) 	
      give to any Governmental Authority any right of
      termination, cancellation or suspension of, or constitute a breach of or
      result in a default under, any permit, licence, consent or authority
      issued to the Corporation and which is necessary or desirable in
      connection with the conduct and operation of the business or operations of
      the ownership or leasing of the Assets or the
Property;

	 	(l) 	
      the Corporation holds all permits, licences, consents and
      authorities issued by any Governmental Authority which are necessary or
      desirable in connection with the conduct and operation of the business of
      the Corporation and the ownership or leasing of the Assets as the same are
      now conducted, owned or leased, and all such permits, licences, consents
      and authorities are in full force and effect and no notice of breach or
      default or defect in respect of the terms of any such permit, licence,
      consent or authority has been received by the Corporation, and the
      Corporation is not aware of any matters which could give rise to such
      notice;

	 	 	 
	 	(m) 	
      the Corporation has not, since incorporation, had and
      does not now have any employees;

Financial

	 	(n) 	
      no financial statements, audited or unaudited, have been
      prepared for the Corporation since the Balance Sheet and Statement of
      Operations dated March 31, 2006, and attached in Schedule “D”;

	 	 	 	 
	 	(o) 	
      the Vendor is not indebted to the Corporation;

	 	 	 	 
	 	(p) 	
      except with respect to the Credit Agreement and the
      transactions and security contemplated therein, and:

	 	 	 	 
	 		(i) 	
      any accrued and unpaid bonding, license or similar fees
      or taxes payable in connection with the Purchase Agreement,

	 	 	 	 
	 		(ii) 	
      any accrued and unpaid corporate or other filing fees
      with respect to annual corporate filings, or

	 	 	 	 
	 		(iii) 	
      accrued technical expenses and holding costs associated
      with the due diligence matters respecting the transaction contemplated
      hereby,

- 10 -

and which amounts in (i) to (iii) do
not, collectively, exceed the nominal sum of FIVE THOUSAND ($5,000) DOLLARS, the
Corporation is not indebted to any Person;

	 	(q) 	
      other than pursuant to the Credit Agreement and the
      transaction and security contemplated therein, there are no liabilities,
      contingent or otherwise, of the Corporation, other than:

	 	 	 	 
	 		(i) 	
      pursuant to the requirements of the Purchase Agreement,
      or

	 	 	 	 
	 		(ii) 	
      in connection with annual filings and other outstanding
      corporate matters,

	 	 	 	 
	 		(i) 	
      and (ii) of which, do not exceed, and are included
      within, the FIVE THOUSAND ($5,000) DOLLARS specified in paragraph
    (p);

	 	 	 	 
	 	(r) 	
      no dividends have been declared or paid on or in respect
      of Corporation Shares since the incorporation of the
Corporation;

	 	 	 	 
	 	(s) 	
      other than pursuant to the Credit Agreement and the
      transaction and security contemplated therein, the Corporation is not a
      party to nor is it bound by any guarantee, indemnification, indemnity,
      surety or other contingent or similar obligation;

	 	 	 	 
	 	(t) 	
      all tax returns and other reports of the Corporation as
      required by Applicable Law to be filed prior to the date hereof have been
      filed and are true, complete and correct, and all Taxes and other
      governmental charges to the date hereof have been paid;

	 	 	 	 
	 	(u) 	
      it is not aware of any contingent tax liability of the
      Corporation or any grounds which will prompt
  reassessment;

Contractual

	 	(v) 	
      Schedule “A” contains a complete and accurate description
      of all of the Assets;

	 	 	 
	 	(w) 	
      the Corporation has good and marketable title to and
      possession of all of the Assets free and clear of all Encumbrances other
      than pursuant to the Purchase Agreement, the Credit Agreement and the
      transaction and security contemplated therein, and the Royalty
      Agreement;

	 	 	 
	 	(x) 	
      none of the parties to the Material Contracts has made
      any material default in the performance of the terms thereof and there are
      no causes for forfeiture;

	 	 	 
	 	(y) 	
      Schedule “C” contains a complete and accurate legal
      description of each of the Material Contracts and the Corporation is not a
      party to and is not bound by any contract or commitment other than as
      disclosed in Schedule “C” attached hereto;

	 	 	 
	 	(z) 	
      the Material Contracts are each:

- 11 -

	 	(i) 	
      in good standing;

	 	 	 
	 	(ii) 	
      in full force and effect; and

	 	 	 
	 	(iii) 	
      have not been amended or
assigned;

	 	(aa) 	
      other than pursuant to the Credit Agreement and the
      transaction and security contemplated therein, there is no agreement,
      option, understanding or commitment, or any right or privilege capable of
      becoming an agreement, option, understanding or commitment for the
      purchase from the Corporation of its business or any of the
  Assets;

	 	 	 
	 	(bb) 	
      the Vendor has paid to ASARCO LLC all amounts due
      pursuant to sections 2.1 and 2.2(i) of the Purchase
  Agreement;

Property and Environmental

	 	(cc) 	
      Schedule “B” contains a complete and accurate description
      of the Property, including a legal description of all exploration or
      mining licenses or leases in which the Corporation has an
  interest;

	 	 	 	 
	 	(dd) 	
      to the best of the Vendor’s knowledge, except to the
      extent that any violation or other matter referred to in this paragraph
      does not have a material adverse effect on the Corporation, the Vendor and
      any optionee, joint venturer or partner which has carried out any work on
      or with respect to the Property:

	 	 	 	 
	 		(i) 	
      did not, in carrying out such work, violate any
      environmental laws,

	 	 	 	 
	 		(ii) 	
      during such activities received, handled, used, stored,
      treated, shipped and disposed of all contaminants without violation of
      applicable environmental laws,

	 	 	 	 
	 		(iii) 	
      did not cause or permit any spill, release, deposit or
      discharge of hazardous or toxic substances, contaminants or wastes which
      has not been rectified;

	 	 	 	 
	 	(ee) 	
      to the best of the Vendor’s knowledge, there are no
      outstanding orders or directions relating to environmental matters
      requiring any work, repairs, construction or capital expenditures with
      respect to the Property or the conduct of the operations related thereto,
      and the Corporation, the Vendor and the other parties to the Purchase
      Agreement have not received any notice of the same nor is the Vendor aware
      of any basis on which any such orders or direction could be
made;

	 	 	 	 
	 	(ff) 	
      there is no adverse claim or challenge against or to the
      Corporation’s ownership of the Assets or Purchase Agreement or its
      interest in the Property nor, to the best of the Vendor’s knowledge, is
      there any basis therefor, and no person, firm or corporation has any
      proprietary or possessory interest in the Purchase
  Agreement

- 12 -

or the rights granted thereby other
than as provided in the Purchase Agreement; and

	 	(gg) 	
      no person other than the Vendor
      pursuant to the Royalty Agreement is entitled to any royalty or other
      payment in the nature of rent or royalty on any mineral products which are
      the subject of the Purchase Agreement other than as provided in the
      Purchase Agreement.

	2.2          The
      Vendor further warrants and represents to the Purchaser that:
	 	 	 	 
		(a) 	 the Vendor has good and sufficient right and
        authority to enter into this Agreement on the terms and conditions herein
        set forth and to transfer all legal and beneficial right, title, interest
        and ownership in and to the Purchased Shares to the Purchaser, free and
        clear of any Encumbrances other than pursuant to the Credit Agreement
        and the transaction and security contemplated therein, in accordance with
        the terms hereof;

	 	 	 	 
		(b) 	 this Agreement constitutes a legal, valid
        and binding obligation of the Vendor, enforceable in accordance with its
        terms, subject only to the following qualifications:

	 	 	 	 
			(i) 	 equitable remedies, such as specific performance and
        injunction, are discretionary remedies and, in particular, may not be
        available where damages are an adequate remedy, and

	 	 	 	 
			(ii) 	 enforcement may be limited by bankruptcy, insolvency,
        liquidation, reorganization, reconstruction and other similar laws generally
        affecting the enforceability of creditors’ rights;

	 	 	 	 
		(c) 	 the Vendor is the registered and beneficial
        owner of the Purchased Shares and Remaining Shares free and clear of all
        Encumbrances other than pursuant to the transactions contemplated in or
        completed in connection with this Agreement or pursuant to the Credit
        Agreement and the transactions and security contemplated therein;

	 	 	 	 
		(d) 	 except pursuant to this Agreement or the Credit
        Agreement and the transactions and security contemplated therein, no Person
        has any agreement, option, understanding or commitment, or any right or
        privilege (whether by law, pre- emptive or contractual right), capable
        of becoming an agreement, option or commitment for the purchase from the
        Vendor of any of the Purchased Shares or Remaining Shares;

	 	 	 	 
		(e) 	 the Vendor is not a U.S. Person and the office
        of the Vendor at which the Vendor received and accepted the offer to acquire
        the Purchased Shares in consideration of the issuance of the Wildcat Special
        Warrants hereunder is the address listed on page 1 of this Agreement;

- 13 -

	 	(f) 	
      Subject to section 6.3, the Vendor is acquiring the
      Wildcat Special Warrants for its own account and not with a view to resale
      or distribution, other than in accordance with available exemption(s) from
      the registration requirements of the 1933 Act and applicable state
      securities laws;

	 	 	 	 
	 	(g) 	
      the Vendor understands that none of the Wildcat Special
      Warrants have been, nor will they be, registered under the 1933 Act and
      that the transaction contemplated hereby is being made in reliance on an
      exemption from such registration requirement;

	 	 	 	 
	 	(h) 	
      the Vendor does not have any knowledge of a “material
      fact” or “material change”, as those terms are defined in the Securities
      Act, in the affairs of the Purchaser that has not been generally disclosed
      to the public, save knowledge of the transactions contemplated
    hereby;

	 	 	 	 
	 	(i) 	
      no person has made any written or oral representations to
      the Vendor:

	 	 	 	 
	 		(i) 	
      that any person will resell or repurchase the Wildcat
      Special Warrants or the Wildcat Shares,

	 	 	 	 
	 		(ii) 	
      that any person will refund the purchase price of the
      Wildcat Special Warrants or the Wildcat Shares, or

	 	 	 	 
	 		(iii) 	
      as to the future price or value of the Wildcat Special
      Warrants or the Wildcat Shares;

	 	 	 	 
	 	(j) 	
      it has the legal capacity and competence to enter into
      and execute this Agreement and to take all actions required pursuant
      hereto and it is duly incorporated and validly subsisting under the laws
      of its jurisdiction of incorporation and all necessary approvals by its
      directors, shareholders, Governmental Authorities and others have been
      given to authorize the execution and delivery of this Agreement on its
      behalf and the completion of its obligations hereunder;

	 	 	 	 
	 	(k) 	
      the entering into of this Agreement and the completion of
      the transactions contemplated hereby will not result in a material
      violation of any of the terms and provisions of any Applicable Laws or the
      Constating Documents of the Vendor, or of any agreement, written or oral,
      to which it is a party or by which it is bound including without
      limitation the Material Contracts; and

	 	 	 	 
	 	(l) 	
      the Vendor does not presently hold any common shares in
      the capital of the Purchaser.

2.3           The
  Purchaser represents and warrants to the Vendor as follows:

Status and Capacity

	 	(a) 	
      the Purchaser is a valid and subsisting company duly
      incorporated and organized under the laws of British Columbia and is a
      reporting issuer in British Columbia

- 14 -

and Alberta, has conditional approval
to list its securities for trading on the Exchange, and the Purchaser:

	 	(i) 	
      is in good standing and up to date with all filings
      required under the Business Corporations Act;

	 	 	 
	 	(ii) 	
      has the corporate power and capacity to carry on the
      business now carried on by it and to own, lease or acquire the assets or
      interests in assets now owned or leased by it or proposed to be acquired
      by it;

	 	 	 
	 	(iii) 	
      is duly qualified to carry on business in each
      jurisdiction in which the conduct of its business or the ownership or
      leasing of its properties and assets makes such qualification necessary;
      and

	 	 	 
	 	(iv) 	
      is not in default of any requirement under any Applicable
      Laws to which it is subject;

	 	(b) 	
      the Purchaser has full right, power and authority to
      enter into this Agreement and any agreement or instrument referred to or
      contemplated by this Agreement, and all requisite corporate acts and
      proceedings have been taken, or will have been taken before the Closing
      Date, so that the Purchaser may deal with its interests and fulfill its
      commitments as herein provided and this Agreement constitutes a legal,
      valid and binding obligation of the Purchaser, enforceable in accordance
      with its terms, subject only to the following qualifications:

	 	 	 	 
	 		(i) 	
      equitable remedies, such as specific performance and
      injunction, are discretionary remedies and, in particular, may not be
      available where damages are an adequate remedy, and

	 	 	 	 
	 		(ii) 	
      enforcement may be limited by bankruptcy, insolvency,
      liquidation, reorganization, reconstruction and other similar laws
      generally affecting the enforceability of creditors’ rights;

	 	 	 	 
	 	(c) 	
      the authorized share capital of the Purchaser consists of
      200,000,000 Shares, and 100,000,000 preferred shares without par value and
      of which 34,290,780 Shares and 0 preferred shares are issued and
      outstanding as at Closing;

	 	 	 	 
	 	(d) 	
      upon their issuance, the Wildcat Shares to be issued on
      the exercise or deemed exercise of the Wildcat Special Warrants, will be
      fully paid and non-assessable Shares of the Purchaser;

	 	 	 	 
	 	(e) 	
      no Person has any right, present or future, contingent or
      absolute, to require the Purchaser to issue any Share in its capital and,
      in particular, there are no outstanding securities of the Purchaser which
      are convertible into Shares in the capital of the Purchaser, and there are
      no outstanding options on or rights to subscribe for any of the unissued
      Shares in the capital of the Purchaser, or any agreements, options or
      understandings capable of becoming options or agreements to purchase
      Shares in the capital of the Purchaser, except for
as

- 15 -

described in the listing statement of
the Purchaser to be submitted by the Purchaser to the Exchange;

	 	(f) 	
      the directors and officers of the Purchaser are as
      follows, all of whom have been duly and validly
  appointed:

Directors

Donald B. Clark
Robert P.
Wares
R. Stuart Angus

  Michael A. Steeves

Officers

Donald B. Clark – Interim President
and Chief Financial Officer

	 	(g) 	
      since June 30, 2005, the business of the Purchaser has
      been carried on in the usual and ordinary course and the Purchaser has not
      entered into any transaction out of the usual and ordinary course of
      business except in connection with the transactions contemplated hereby,
      the private placements to be completed concurrent with closing and the
      acquisition of certain mineral exploration properties in
Arizona;

	 	 	 	 
	 	(h) 	
      except as disclosed by the Purchaser to the Vendor, no
      action, suit, judgment, investigation, assessment, reassessment,
      litigation, determination, administrative or other proceeding, arbitration
      or dispute with any Governmental Authority, is in progress, pending or
      threatened by, on behalf of, or against the Purchaser, or any of its
      assets and, to the knowledge of the Purchaser, no state of facts exists
      which could reasonably constitute a basis therefor;

	 	 	 	 
	 	(i) 	
      the Purchaser is not in breach of any Applicable Law, the
      breach of which would result in a material adverse change in the position
      (financial, business or otherwise) or condition of the Purchaser or would
      affect the rights of the Purchaser under any of its material
    contracts;

	 	 	 	 
	 	(j) 	
      none of the execution and delivery of this Agreement, the
      completion of the transactions contemplated hereby, or the observance and
      performance by the Purchaser of its covenants and obligations herein
      will:

	 	 	 	 
	 		(i) 	
      conflict with, or result in a breach of, or violate any
      of the terms, conditions or provisions of the Constating Documents of the
      Purchaser,

	 	 	 	 
	 		(ii) 	
      conflict with, or result in a breach of, or violate any
      of the terms, conditions or provisions of any Applicable Law to which the
      Purchaser is subject,

- 16 -

	 	(iii) 	
      constitute or result in a breach of or a default under
      any agreement, contract, lease, indenture or other instrument or
      commitment to which the Purchaser is a party or is or may become subject
      or from which it derives or may derive benefit,

	 	 	 
	 	(iv) 	
      give to any Governmental Authority any right of
      termination, cancellation or suspension of, or constitute a breach of or
      result in a default under, any permit, licence, consent or authority
      issued to the Purchaser and which is necessary or desirable in connection
      with the conduct and operation of the business or operations of the
      ownership or leasing of its assets and properties; or

	 	 	 
	 	(v) 	
      constitute a default by the Purchaser, or any event
      which, with the giving of notice or lapse of time, or both, might
      constitute an event of default under any agreement, contract, lease,
      indenture or other instrument or commitment which could give any Person
      the right to accelerate the maturity for the payment of any amount payable
      under any such agreement, contract, lease, indenture, promissory note or
      other instrument or commitment;

	 	(k) 	
      the Purchaser holds all permits, licences, consents and
      authorities issued by any Governmental Authority which are necessary or
      desirable in connection with the conduct and operation of the business of
      the Purchaser and the ownership or leasing of its assets as the same are
      now conducted, owned or leased, and all such permits, licences, consents
      and authorities are in full force and effect and no notice of breach or
      default or defect in respect of the terms of any such permit, licence,
      consent or authority has been received by the Purchaser, and it is not
      aware of any matters which could give rise to such notice;

	 	 	 
	 	(l) 	
      the Purchaser is not party to any collective agreement
      with any labour union or other association of employees and the Purchaser
      is not aware of any attempt to organize or certify the employees of the
      Purchaser as a bargaining unit;

Financial

	 	(m) 	
      the Purchaser is not, except as to indebtedness reflected
      in the Wildcat Financial Statements or incurred in the normal course of
      business since December 31, 2005, indebted to any Person other than a
      guarantee provided to Quest Capital Corp. (the "Quest Guarantee") which
      will be discharged immediately after Closing;

	 	 	 	 
	 	(n) 	
      the Wildcat Financial Statements (as at their respective
      dates):

	 	 	 	 
	 		(i) 	
      are all current and up-to-date and reflect all material
      transactions undertaken by the Purchaser to the date thereof,

	 	 	 	 
	 		(ii) 	
      are true and correct and present fairly the financial
      history of the Purchaser,

- 17 -

	 	(iii) 	
      have been prepared in accordance with Generally Accepted
      Accounting Principles on a basis consistent with prior periods,
  and

	 	 	 
	 	(iv) 	
      include and present fairly all of the assets and
      liabilities of the Purchaser as at the date thereof including, without
      limitation, all contingent liabilities of the
Purchaser;

	 	(o) 	
      other than the transactions contemplated in this
      Agreement and the purchase of CVS Explorations Limitada, there are no
      liabilities, contingent or otherwise, known or unknown, of the Purchaser
      which are not disclosed or reflected in the Wildcat Financial Statements
      except those incurred in the ordinary course of its business since the
      date thereof (the “Wildcat Statement Date”) and there have been no
      material adverse changes in the financial affairs of the Purchaser since
      the Wildcat Statement Date;

	 	 	 
	 	(p) 	
      no dividends have been declared or paid on or in respect
      of any Shares in the capital of the Purchaser since
  incorporation;

	 	 	 
	 	(q) 	
      other than the Quest Guarantee, the Purchaser is not
      party to and is not bound by any guarantee, indemnification, indemnity,
      surety or other contingent or similar obligation;

	 	 	 
	 	(r) 	
      all tax returns and reports of the Purchaser required by
      law to be filed prior to the date hereof have been filed and are true,
      complete and correct and all Taxes and other government charges to the
      Wildcat Statement Date have been paid or accrued in the Wildcat Financial
      Statements;

	 	 	 
	 	(s) 	
      there are no agreements, waivers or other arrangements
      providing for an extension of time with respect to the filing of any tax
      return by, or payment of, any Taxes, governmental charge or deficiency by
      the Purchaser;

	 	 	 
	 	(t) 	
      to its knowledge, there is no contingent tax liability of
      the Purchaser or any grounds which will prompt reassessment including
      aggressive treatment of income and expenses in filing tax
  returns;

Contractual

	 	(u) 	
      none of the parties to the Purchaser’s material contracts
      has made any material default in the performance of the terms
    thereof;

	 	 	 
	 	(v) 	
      other than the Reorganization, there is no agreement,
      option, understanding or commitment, or any right or privilege capable of
      becoming an agreement, option, understanding or commitment for the
      purchase from the Purchaser of its business or any of its material assets;
      and

	 	 	 
	 	(w) 	
      the Purchaser has filed all reports and documents
      required to be filed with the Commissions and the Exchange, and is not in
      default of any material requirements of the Business Corporations Act or
      the Securities Act.

- 18 -

2.4           The
  Purchaser hereby advises the Vendor as to certain matters in connection with
  the issuance of securities by the Purchaser hereunder, and the Vendor acknowledges
  and agrees, as follows:

	 	(a) 	
      no prospectus has been prepared or filed by the Purchaser
      with any securities commission or similar authority in any jurisdiction in
      connection with the distribution of the Wildcat Special Warrants or the
      Wildcat Shares hereunder and the Purchaser is relying upon an exemption
      from the requirements of the Securities Act to provide the Vendor with a
      prospectus and to sell securities through a person registered to sell
      securities under the Securities Act and that, as a result:

	 	 	 	 
	 		(i) 	
      certain protections, rights, and remedies provided by the
      Securities Act, including statutory rights of rescission or damages, will
      not be available to the Vendor;

	 	 	 	 
	 		(ii) 	
      the Vendor may not receive information and the Purchaser
      is relieved from certain obligations that would otherwise be required to
      be given if a prospectus were provided under applicable securities
      legislation in connection with distribution of the Wildcat Special
      Warrants and the Wildcat Shares; and

	 	 	 	 
	 		(iii) 	
      the issuance and distribution of Wildcat Shares to the
      Vendor is subject to such issuance and distribution being exempt from the
      requirements of applicable securities laws as to the filing or delivery of
      a prospectus;

	 	 	 	 
	 	(b) 	
      there is no government or other insurance covering the
      Wildcat Special Warrants or the Wildcat Shares;

	 	 	 	 
	 	(c) 	
      the Wildcat Special Warrants and the Wildcat Shares are
      extremely speculative investments, the acquisition of which involves a
      substantial degree of risk and the Vendor may lose all of its investment
      in the Wildcat Special Warrants and the Wildcat Shares;

	 	 	 	 
	 	(d) 	
      no Governmental Authority, stock exchange or other entity
      has reviewed or made any finding or determination as to the merit for
      investment of, nor has any such Governmental Authority, stock exchange or
      other entity made any recommendation or endorsement with respect to, the
      Wildcat Special Warrants or the Wildcat Shares, and any representation to
      the contrary is a criminal offence;

	 	 	 	 
	 	(e) 	
      if the Completion Date precedes the Drop Dead Date, the
      Vendor will not participate in the Reorganization as a shareholder of the
      Purchaser; and

	 	 	 	 
	 	(f) 	
      the Purchaser and its counsel will each rely on the
      acknowledgements, representations, and warranties made herein or otherwise
      provided by the Vendor to the Purchaser in completing the acquisition of
      the Purchased Shares and the issuance of the Wildcat Special Warrants and
      the Wildcat Shares to the Vendor,

- 19 -

and the Vendor acknowledges and
confirms that it has been made, and is, aware of each of the foregoing
matters.

2.5           The
  Vendor acknowledges to, and agrees with, the Purchaser that no information or
  representation concerning the Purchaser has been provided to the Vendor by the
  Purchaser other than as set out in this Agreement and the Vendor is relying
  entirely upon such information or documents as are made publicly available by
  the Purchaser and are on file at the Exchange or the Commissions.

2.6           The
  Purchaser acknowledges that the Vendor has acquired the Property through bankruptcy
  proceedings (the “Bankruptcy”) which have completed as of the date
  of this Agreement and the Vendor represents and warrants that the presiding
  judge in the Bankruptcy proceedings has issued a final order with respect to
  the Property and therefore as at the Closing Date, the Corporation holds title
  to the Property.

2.7           The
  representations and warranties hereinbefore set out are conditions on which
  the parties have relied in entering into this Agreement and will survive the
  acquisition of any interest in the Purchased Shares by the Purchaser.

2.8           Each
  party will defend, indemnify and save each of the other parties harmless from
  and against all actions, causes of action, losses, damages, costs, charges,
  liabilities and expenses arising out of or in connection with any breach of
  any representation, warranty or covenant of such party contained in this Agreement.

	3. 	
      COVENANTS OF THE VENDOR

3.1           Notwithstanding
  the transactions contemplated herein, the Vendor shall remain responsible for
  satisfying the obligations of the Corporation pursuant to section 2.2(ii) of
  the Purchase Agreement and shall execute any reasonable documentation evidencing
  such obligation as required by the Corporation acting reasonably.

	4. 	
      COVENANTS OF THE PURCHASER

4.1           Forthwith
  after execution and delivery of this Agreement, the Purchaser will take such
  steps and proceedings as may be reasonably required to list its shares on the
  Exchange and any necessary consents or approvals from the Commissions and any
  other applicable regulatory authority, with respect to the transactions contemplated
  by this Agreement including, without limitation, the acquisition of the Purchased
  Shares and the issuance of the Wildcat Special Warrants and the Wildcat Shares,
  and will comply with all applicable statutes and regulations and with all policy
  statements of the Commissions and the by-laws, rules and policies of the Exchange.

- 20 -

	5. 	
      PURCHASE AND SALE

5.1           On
  the basis of the representations and warranties and subject to the terms and
  conditions in this Agreement, on the Closing Date the Purchaser will purchase
  from the Vendor, and the Vendor will sell to the Purchaser, the Purchased Shares.

	6. 	
      PURCHASE PRICE AND
DELIVERY

6.1           Subject
  to subsections 6.2, 6.3 and 6.4 the consideration to be paid by the Purchaser
  to the Vendor for the Purchased Shares (the “Purchase Price”) will
  be:

	 	(a) 	
      the allotment and issuance to the Vendor on execution of
      this Agreement of an aggregate of TWENTY-TWO MILLION FIVE HUNDRED THOUSAND
      (22,500,000) Wildcat Special Warrants at a deemed price of $2.05 (Cdn) per
      Wildcat Special Warrant. Each whole Wildcat Special Warrant shall be
      deemed to be exercised for no additional consideration into one fully paid
      and non-assessable Wildcat Share on the earlier of the Drop Dead Date and
      the Completion Date; and

	 	 	 	 
	 	(b) 	
      US$10,000,000 plus the reimbursement of financing costs
      of US$111,616 paid by the Vendor to be paid as follows:

	 	 	 	 
	 		(i) 	
      US$250,000 which the parties acknowledged and agree has
      been satisfied by the Purchaser by paying $250,000 to ASARCO LLC in
      partial satisfaction of the obligations of the Vendor under the Purchase
      Agreement;

	 	 	 	 
	 		(ii) 	
      US$3,500,000 to Quest Capital Corp on the Closing
      Date;

	 	 	 	 
	 		(iii) 	
      US$1,361,616 on or before June 30, 2006; and

	 	 	 	 
	 		(iv) 	
      US$5,000,000 on March 2, 2007.

6.2           Subject
  to the terms and conditions hereof, the Purchaser and the Vendor covenant and
  agree that at the Closing the Purchased Shares will be transferred to and registered
  in the name of the Purchaser.

6.3           The
  Vendor has advised the Purchaser that it holds certain of the Wildcat Special
  Warrants as bare trustee for the benefit of the following persons:

	 	Rick Redfern 	10,000,000 
	 	Donald B. Clark 	1,000,000 
	 	Purni Parikh 	100,000

Notwithstanding the foregoing, the Purchaser will be entitled
to treat the Vendor as the sole owner of the Wildcat Special Warrants and to act
in accordance with its instructions without regard to the interests of any other
person, disclosed or undisclosed, and the Vendor will

- 21 -

indemnify the Purchaser and save it harmless from all claims or
damages incurred by it for so acting.

6.4           The
  Purchaser and the Vendor acknowledge and agree that some or all of the Wildcat
  Shares to be issued on the exercise of the Wildcat Special Warrants to the Purchaser
  pursuant to paragraph 6.1(a) shall be placed in escrow and released to the Vendor
  and its nominees over a three-year period commencing on the Effective Date pursuant
  to an escrow agreement (the “Escrow Agreement”), however, any Wildcat
  Shares remaining in escrow under the Escrow Agreement, shall be released from
  escrow in the event that:

	 	(a) 	
      the Purchaser completes, or has completed, a technical
      report in accordance with National Instrument 43-101, Standards of
      Disclosure for Mineral Projects, (“NI 43-101”) that identifies a measured,
      indicated or inferred mineral resource (as defined in NI 43-101) of at
      least 20,000,000 ounces of silver on the Property; or

	 	 	 
	 	(b) 	
      an independent arm’s length third party completes a
      takeover bid, or otherwise acquires, over 50% of the issued and
      outstanding shares of the Purchaser.

	7. 	 CLOSING

7.1           
  On Closing, the parties agree to enter into the Shareholders' Agreement in respect
  of the Corporation and governing all of the outstanding Corporation Shares
  substantially in the form attached as Schedule “E” attached hereto.

7.2           On
  Closing, the Vendor will deliver or cause to be delivered to the Purchaser,
  or as directed by the Purchaser:

	 	(a) 	
      share certificates of the Corporation representing the
      Purchased Shares registered in the name of the Purchaser or as directed by
      the Purchaser;

	 	 	 
	 	(b) 	
      the Royalty Agreement duly executed by the parties
      thereto; and

	 	 	 
	 	(c) 	
      accredited investor certificates from all persons to whom
      Wildcat Special Warrants are to be issued.

7.3           On
  Closing, the Purchaser will deliver or cause to be delivered to, or as instructed
  by, the Vendors:

	 	(a) 	
      certified copies of resolutions of the directors of the
      Purchaser authorizing this Agreement, the issuance of the Wildcat Shares,
      authorizing the delivery of the Wildcat Share certificates in the name of
      the Vendor;

	 	 	 
	 	(b) 	
      certificates representing the Wildcat Special Warrants
      registered in the name of or as directed by the Vendor on Closing with
      photocopies thereof to be delivered to the Vendor;

- 22 -

	 	(c) 	
      a copy of the Exchange’s conditional listing approval and
      acceptance of this transaction; and

	 	 	 
	 	(d) 	
      a legal opinion in respect of the Wildcat Special
      Warrants and Wildcat Shares to be issued to the Vendor in a form
      satisfactory to the Vendor and its counsel acting
  reasonably.

	8. 	
      HOLD PERIOD AND RESALE RESTRICTIONS AND VENDOR’S
      COVENANT REGARDING RESALE OF SHARES

8.1           The
  Vendor acknowledges that the Wildcat Special Warrants and the Wildcat Shares
  are  subject to resale restrictions imposed under applicable securities
  laws and the rules of regulatory bodies having jurisdiction including, without
  limiting the generality of the foregoing:

	 	(a) 	
      a requirement of the Exchange that the Wildcat Special
      Warrants and the Wildcat Shares may not be sold, transferred, hypothecated
      or otherwise traded on or through the facilities of the Exchange or
      otherwise in Canada or to or for the benefit of a Canadian resident for a
      period of four (4) months from the date of issuance;

	 	 	 	 
	 	(b) 	
      a requirement that, in place of the Escrow Agreement,
      some or all of the Wildcat Special Warrants or the Wildcat Shares to be
      allotted and issued to the Purchaser on Closing be placed in escrow and
      released, in accordance with such timed release. Accordingly, if the
      Exchange requires some or all of the Wildcat Special Warrants or the
      Wildcat Shares to be escrowed, the Vendors agree to enter into an escrow
      agreement in the required form (the “Exchange Escrow Agreement”), and the
      certificates representing such escrowed Wildcat Special Warrants or the
      Wildcat Shares will, on Closing, be delivered by the Purchaser to the
      escrow agent named in the Exchange Escrow Agreement, to be held and dealt
      with and released in accordance with the terms and conditions of the
      Exchange Escrow Agreement, with photocopies thereof delivered to the
      Vendors at Closing;

	 	 	 	 
		(c) 	
      a requirement under the Multilateral Instrument 45-102
      made under the Securities Act that the Wildcat Special Warrants or the
      Wildcat Shares may not be traded for a period of four (4) months from the
      date of issuance except pursuant to either a prospectus or an exemption
      from the applicable prospectus requirements; and

	 	 	 	 
		(d) 	
      if the Vendor or other holder of the Wildcat Special
      Warrants or Wildcat Shares is a “control person” there are additional
      specific restrictions on the ability of the Vendor to dispose of the
      Wildcat Special Warrants or the Wildcat Shares in addition to the
      foregoing.

8.2           The
  Vendor acknowledges that it is the responsibility of the Vendor to determine
  and confirm what restrictions there are on the Vendor’s ability to resell
  the Wildcat Special Warrants or the Wildcat Shares and to comply with them before
  selling any of the Wildcat Special Warrants or the Wildcat Shares and, in particular,
  the Vendor covenants with the Purchaser that:

- 23 -

	 	(a) 	
      it will comply with the applicable rules and policies of
      the Exchange and the provisions of the Securities Act, the 1933 Act, and
      any other relevant securities legislation, concerning the holding and
      resale or other disposition of the Wildcat Special Warrants or the Wildcat
      Shares; and

	 	 	 
	 	(b) 	
      upon each resale or other disposition by the Vendor of
      the Wildcat Special Warrants or the Wildcat Shares, the Vendor will effect
      such resale only in accordance with all applicable laws and stock exchange
      rules and policies.

	9. 	
      REORGANIZATION

9.1           
  The Vendor and Purchaser acknowledge and agree that the Purchaser shall use
  commercially reasonable efforts to complete the Reorganization, the structure
  and details of which are to be determined by the Purchaser in it sole discretion,
  as soon as reasonably practicable after Closing.

	10. 	
      GENERAL PROVISIONS

10.1           The
  Vendor, at its expense, will, and will procure that the Corporation will, execute
  and deliver all such further documents and instruments, give all such further
  assurances, and do all such acts and things as the Purchaser or its solicitors
  may reasonably require to carry out the full intent and meaning of this Agreement
  and to assure to the Purchaser the Purchased Shares.

10.2           The
  Purchaser, at its expense, will execute and deliver all such further documents
  and instruments, give all such further assurances and do all such acts and things
  as the Vendor or its solicitors may reasonably require to carry out the full
  intent and meaning of this Agreement.

10.3           This
  Agreement contains the whole agreement between the Vendor and the Purchaser
  in respect of the subject matter hereof and supersedes and replaces all prior
  negotiations, communications, correspondence and agreements. There are no warranties,
  representations, terms, conditions or collateral agreements, express or implied,
  statutory or otherwise, other than as expressly set forth in this Agreement.

10.4           This
  Agreement will enure to the benefit of and be binding upon the parties and each
  of them and their respective heirs, successors, liquidators, executors. No party
  may assign any of its right, title or interest in, to or under this Agreement,
  nor will any such purported assignment be valid amongst the parties hereto,
  except with the prior written consent of all parties hereto, such consent not
  to be unreasonably withheld.

	11. 	
      APPLICABLE LAW

11.1           
  This Agreement will, in respect of the following matters, be governed by the
  following laws (without reference to their choice of law rules):

	 	(a) 	
      with respect to matters relating to the Assets, by the
      laws of the State of Arizona and the laws of the United States applicable
      therein; and

- 24 -

		
      (b) 
	with respect to all other matters, by the laws of British Columbia.
	 	 
	12. 	 ARBITRATION

12.1           Any
  dispute, controversy or claim arising out of or relating to this Agreement,
  or the breach, termination or invalidity of it, shall be referred to and finally
  resolved by arbitration in accordance with the rules of the British Columbia
  International Commercial Arbitration Centre in effect on the date of the commencement
  of any arbitration hereunder.

12.2           The
  parties agree that:

		(a) 	
      the appointing authority will be the British Columbia
      International Commercial Arbitration Centre;

	 	 	 
		(b) 	
      the case will be administered by the British Columbia
      International Commercial Arbitration Centre in accordance with its
      “Domestic Commercial Arbitration Rules”;

	 	 	 
		(c) 	
      the place of arbitration will be Vancouver, British
      Columbia;

	 	 	 
		(d) 	
      the number of arbitrators will be one (1); and

	 	 	 
		(e) 	
      the language used in the arbitral proceeding will be
      English.

12.3           The
  arbitrator’s fees will be paid by the disputant parties in equal parts
  during the course of the arbitration but upon final decision of the dispute,
  the defeated party or parties will pay all costs of the prevailing party or
  parties in connection with the arbitration and reimburse all such fees paid
  by the prevailing party or parties, subject to any contrary decision of the
  arbitrator.

12.4           Arbitrations
  pursuant to this section 12 will be carried out in such a manner as to render
  the arbitration award enforceable in each of British Columbia and any other
  jurisdiction in which a disputant resides, and in that regard all requirements
  of any such jurisdiction with respect to rendering a foreign arbitral award
  enforceable will be complied with.

12.5           The
  City of Vancouver will be the venue for any legal proceedings to enforce in
  British Columbia any arbitral award pursuant to this Agreement. In the case
  of other jurisdictions, the prevailing party or parties may, in their sole discretion,
  select the venue in the jurisdiction in question where legal proceedings will
  be brought to enforce in such jurisdiction any arbitral award pursuant to this
  Agreement.

	13. 	
      NOTICES

13.1           Any
  notice, direction or other instrument required or permitted to be given under
  this Agreement will be in writing and will be given by sending the same by electronic
  facsimile, followed by a hard copy sent by registered airmail, in each case
  addressed as follows:

- 25 -

	(a) 	
      If to the Vendor:

Diamond Hill Investment Corp.
5903
Larch Street
Vancouver, B.C. V6M 4E5
Attention: President
Facsimile
No.: (604) 267-1149

	(b) 	
      If to the Purchaser at:

Wildcat Silver Corporation
400 –
837 West Hastings STreet
Vancouver, B.C. V6C 3N6
Attention:
President

  Facsimile No.: (604) 687-1715

13.2           Provided
  that the sender’s facsimile machine produces a written confirmation slip
  indicating that the facsimile was received by the facsimile machine at the intended
  recipient’s facsimile number fixed in accordance with this section, any
  notice, direction or other instrument aforesaid will be deemed to have been
  given and received on the day it was sent by facsimile unless it was sent:

	 	(a) 	
      on a day which is not a Business Day in the place to
      which it was sent; or

	 	 	 
	 	(b) 	
      after 4:00 p.m. in the place to which it was
  sent,

in which cases it will be deemed to have been given and
received on the next day which is a Business Day in the place it was sent to.
Notices which are required to be sent for information purposes are required to
be sent, but for the purposes of determining the time when receipt of a notice
is effective hereunder it is the time of receipt of the primary notice which is
relevant.

13.3 Any party may at any time give to the others notice in
writing of any change of address of the party giving such notice and from and
after the giving of such notice the address or addresses therein specified will
be deemed to be the address of such party for the purposes of giving notice
hereunder.

	14. 	
      CONFIDENTIAL INFORMATION

14.1           So
  long as this Agreement is in effect and except as provided by Applicable Law,
  legal process or as required by the Commissions or the Exchange, each party
  will keep the contents of this Agreement and any documents, materials or correspondence
  provided hereunder (the “Confidential Information”) in the strictest
  confidence (and shall cause their respective representatives and agents to maintain
  such confidentiality) and shall promptly advise, consult and obtain the approval
  of the other party (such approval not to be unreasonably withheld) prior

- 26 -

to issuing, or permitting any of their representatives to
issue, any press release or statement to the media or any third party with
respect to the transactions contemplated herein.

14.2           Each
  party agrees that any Confidential Information delivered to it hereunder by
  the other party will remain the property of the delivering party and that delivery
  of any Confidential Information to the party will not give it any right or interest
  therein other than the rights of use granted by this Agreement.

14.3           No
  party shall use or disclose Confidential Information of another party except
  for the purposes of this Agreement. Each party shall treat the Confidential
  Information of the other party in the same way it treats its own confidential
  information and shall use all reasonable efforts to protect the Confidential
  Information against unauthorized use or disclosure.

14.4           In
  the event that the transactions contemplated herein are not completed, each
  party shall immediately (and, in any event, within three business days) return
  all Confidential Information received from the other parties, including all
  copies (including electronic copies) or reproductions of such documents.

14.5           Each
  party may disclose the Confidential Information of the other party to its directors,
  officers and employees and to outside consultants, including but not limited
  to lawyers, investment bankers and other consultants (“Consultants”)
  who participate in the party’s evaluation of the Confidential Information
  for the purposes of this Agreement. Each party shall disclose Confidential Information
  only to those Consultants who have agreed to be bound by the obligations of
  the parties hereunder. Each party agrees to be liable to the other for any breach
  of this Agreement with respect to Confidential Information by such party or
  by its directors, officers, employees or Consultants.

14.6           Each
  party acknowledges that money damages will not be an adequate remedy for breach
  of the confidentiality obligations and limitations on use created by or arising
  under this Agreement and agrees that the other party shall be entitled to equitable
  relief, including injunction and specific performance, in the event of any breach
  of the confidentiality obligations and limitations on use created by or arising
  under this Agreement.

	15. 	
      COUNTERPARTS

15.1           This
  Agreement, and any certificates or other writing delivered in connection herewith,
  may be executed in any number of counterparts with the same effect as if all
  parties had all signed the same documents, and all such counterparts and adopting
  instruments will be construed together and will constitute one and the same
  instrument. The execution of this Agreement and any other writing by any party
  hereto or thereto will not become effective until counterparts hereof or thereof,
  as the case may be, have been executed by all the parties hereto or thereto,
  and executed copies delivered to each party who is a party hereto or thereto.
  Such delivery may be made by facsimile transmission of the execution page or
  pages, hereof or thereof, to each of the other parties by the party signing
  the particular counterpart, provided that forthwith after such facsimile transmission,
  an originally executed execution page or pages is forwarded by prepaid express
  courier to each of the other parties by the party signing the particular counterpart.

- 27 -

IN WITNESS WHEREOF the parties have executed and delivered this
Agreement as of the day and year first above written.

	The Corporate Seal of DIAMOND HILL 	) 	  
	INVESTMENT CORP. was hereunto 	) 	  
	affixed in the presence of: 	) 	  
	  	) 	  
	  	) 	  
	"R. Stuart
      Angus"	) 	  
	Authorized Signatory 	) 	c/s 
	  	) 	  
	  	) 	  
	Authorized Signatory 	) 	  
	  	  	  
	  	  	  
	  	  	  
	The Corporate Seal of WILDCAT SILVER 	) 	  
	CORPORATION was hereunto affixed in 	) 	  
	the presence of: 	) 	  
	  	) 	  
	  	) 	  
	"Donald B.
      Clark"	) 	  
	Authorized Signatory 	) 	c/s 
	  	) 	  
	  	) 	  
	Authorized Signatory 	) 	  

- 28 - 

SCHEDULE “A” 
ASSETS OF THE CORPORATION 

 

	1. 	The Material Contracts 

- 29 -

SCHEDULE “B”

  THE PROPERTY

Legal Description of Property

	1. 	
      Eight Patented Claims, Names/Nos.: Camden Mine/1211192;
      Camden No.2/1211192; Hardshell No.1/121192; Hardshell No.15/1211192;
      Hermosa/10278; Salvador/10614; Bluff/10279; Alta/8635; aggregating approx.
      135 acres; and

	 	 
	2. 	
      Twenty-Six Unpatented Claims, Names/Nos.: Shell
      1-20/51409-51428; Shell 44-49/51452-51457; aggregating approx. 486
      acres;

all located in the Harshaw Mining District, Santa Cruz County,
Arizona.

- 30 -

SCHEDULE “C”
MATERIAL CONTRACTS OF THE
CORPORATION
AND SUBSIDIARIES

	1. 	
      The Purchase Agreement.

	 	 
	2. 	
      The Royalty Agreement

- 31 -

SCHEDULE “D”
FINANCIAL STATEMENTS OF
CORPORATION

Arizona Minerals Inc.
Balance Sheet

  March 31, 2006

	  	 	Arizona 	 	 	 
    	 	 	Arizona 	 
	 	 	Minerals Inc. 	 	 	FX 	 	 	Minerals Inc. 	 
	  	 	US$ 	 	 	  	 	 	CDN$ 	 
	ASSETS 	 	  	 	 	  	 	 	  	 
	  	 	  	 	 	  	 	 	  	 
	MINERAL PROPERTIES 	 	7,909,071 	 	 	1.1680 	 	 	9,237,795 	 
	   Hardshell Property 	 	 
    	 	 	  	 	 	 
    	 
	                                                                                                                           
    	 $	7,909,071 	 	 	  	 	$	 9,237,795 	 
	  	 	  	 	 	  	 	 	  	 
	  	 	  	 	 	  	 	 	  	 
	LIABILITIES 	 	  	 	 	  	 	 	  	 
	  	 	  	 	 	  	 	 	  	 
	CURRENT 	 	  	 	 	  	 	 	  	 
	   Note payable 	 	250,000 	 	 	1.1680 	 	 	292,000 	 
	   Due to Diamond Hill Investment Corp. 	 	3,861,593 	 	 	1.1680 	 	 	4,510,340 	 
	  	 	4,111,593 	 	 	  	 	 	4,802,340 	 
	  	 	  	 	 	  	 	 	  	 
	LONG TERM LIABILITIES 	 	  	 	 	  	 	 	  	 
	   Long term notes 	 	3,828,264 	 	 	1.1680 	 	 	4,471,412 	 
	  	 	7,939,857 	 	 	  	 	 	9,273,753 	 
	  	 	  	 	 	  	 	 	  	 
	SHAREHOLDERS' EQUITY 	 	  	 	 	  	 	 	  	 
	  	 	  	 	 	  	 	 	  	 
	Share capital 	 	10 	 	 	1.1680 	 	 	12 	 
	Deficit 	 	(30,796	) 	 	1.1680 	 	 	(35,970	)

	  	 	(30,786	) 	 	  	 	 	(35,958	) 
	                                                                                                                           	 $ 	7,909,071 	 	 	  	 	$	 9,237,795 	 
	  	 	  	 	 	  	 	 	  	 
	Incorporated September 13, 2005 	 	  	 	 	  	 	 	  	 

- 32 -

Arizona Minerals Inc.
Statement of
Operations
September 13, 2005 to March 31, 2006

	  	 	Arizona 	 	 	 
    	 	 	Arizona 	 
	  	 	Minerals Inc. 	 	 	FX 	 	 	Minerals Inc. 	 
	  	 	US$ 	 	 	  	 	 	CDN$ 	 
	  	 	  	 	 	  	 	 	  	 
	  	 	  	 	 	  	 	 	  	 
	EXPENSES 	 	  	 	 	  	 	 	  	 
	Interest 	 	30,796 	 	 	1.1680 	 	 	35,970 	 
	NET LOSS, DEFICIT FOR THE PERIOD 	$	 (30,796	) 	 	1.1680 	 	$	 (35,970	) 

- 33 -

Arizona Minerals Inc.

	 	               
                         
                         
                 US 	 	  	 
	 	Note Payable 	 	4,500,000 	 
	 	  	 	  	 
	 	Due March 14, 2007 	 	  	 
	 	Non-interest 	 	  	 
	 	Discount 18.5% 	 	  	 
	 	  	 	  	 
	 	  	 	(3,797,468	) 

 

 

 

	  	 	 	 	 	31-Mar-06 	 	 	30-Jun-06 	 	 	30-Sep-06 	 	 	31-Dec-06 	 	 	31-Mar-06 	 	 	  	 
	Interest accretion 	 	 	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 
	                                             
    	 	702,532	 	 	30,796 	 	 	175,152 	 	 	177,076.47 	 	 	177,076.47 	 	 	142,431.07 	 	 	702,532 	 
	  	 	 	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 
	Note Payable 	 	 	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 
	31-Mar-06 	 	 	 	 	  	 	 	(3,828,264	) 	 	  	 	 	  	 	 	  	 	 	  	 
	30-Jun-06 	 	 	 	 	  	 	 	(4,003,416	) 	 	  	 	 	  	 	 	  	 	 	  	 
	30-Sep-06 	 	 	 	 	  	 	 	(4,180,492	) 	 	  	 	 	  	 	 	  	 	 	  	 
	31-Dec-06 	 	 	 	 	  	 	 	(4,357,569	) 	 	  	 	 	  	 	 	  	 	 	  	 
	31-Mar-06 	 	 	 	 	  	 	 	- 	 	 	  	 	 	  	 	 	  	 	 	  	 

- 34 -

SCHEDULE “E”
FORM OF SHAREHOLDERS’
AGREEMENT

SHAREHOLDERS’ AGREEMENT

     This Shareholder Agreement is
made and entered into by and among Wildcat Silver Corporation, a British
Columbia corporation (“Wildcat”), and Diamond Hill Investment Corp., a British
Columbia corporation (“Diamond Hill”) and Arizona Minerals Inc., a Nevada
corporation (the “Company”).

WHEREAS:

A. Wildcat and Diamond Hill entered into a share purchase
agreement (the “Share Purchase Agreement”) made and entered into effective the
18th day of May, 2006 pursuant to which Wildcat purchased 80 % of the Shares in
the capital of the Company;

B. Wildcat and Diamond Hill now wish to enter into this
Agreement to provide certain specific procedures to govern the affairs of the
Company.

     NOW THEREFORE pursuant to the
rights and obligations of each of Wildcat and Diamond Hill under the Share
Purchase Agreement and other good and valuable consideration, the sufficiency of
which are acknowledged, Wildcat and Diamond Hill mutually agree as follows:

	1. 	
      DEFINITIONS

1.1            In
  this Agreement and in the schedules and recitals hereto, unless the context otherwise
  requires, the following expressions will have the following meanings:

	 	(a) 	
      “Affiliate” means any corporation, individual,
      joint venture, limited liability company, limited partnership or other
      entity which directly or indirectly controls is controlled by or is under
      common control with a party to this Agreement and for the purposes of this
      Agreement “control” means possession directly or indirectly of the power
      to direct or cause direction of management and policies through ownership
      of voting securities, contract, voting trust, or otherwise;

	 	 	 
	 	(b) 	
      “Agreement” means this shareholder agreement,
      including all attachments and exhibits hereto;

	 	 	 
	 	(c) 	
      “Approved Program and Budget” means a Program and
      Budget approved or deemed approved by the Board in accordance with
      subsection 3.1;

	 	 	 
	 	(d) 	
      “Board” means the board of directors or other
      governing body for the Company elected by the holders of
  Shares;

- - 35 - -

	 	(e) 	
      “Budget” means a detailed estimate of the
      anticipated costs and expenses for Company Operations to be conducted
      during a Budget Period;

	 	 	 	 
	 	(f) 	
      “Budget Period” means the period of time for which
      a Budget for a Program has been approved which shall commence on the date
      for which the Program is effective and shall continue until the
      commencement of the next ensuing Budget Period;

	 	 	 	 
	 	(g) 	
      “Commercial Production” means the commercial
      exploitation of Products but does not include milling for the purpose of
      testing or milling or leaching by a pilot plant or during an initial tune
      up period of a plant. Commercial Production will be deemed to have
      commenced:

	 	 	 	 
	 		(i) 	
      if a plant is located on the Property, on the first day
      of the month following the first period of thirty (30) consecutive days
      during which Products have been processed through such plant for not less
      than fifteen (15) days at an average rate not less than seventy percent
      (70%) of the initial rated capacity of such plant; or

	 	 	 	 
	 		(ii) 	
      if no plant is located on the Property, on the first day
      of the month following the first period of thirty (30) consecutive days
      during which Products have been shipped from the Property on a reasonably
      regular basis for the purpose of earning revenue;

	 	 	 	 
	 	(h) 	
      “Company Account” means an account maintained by
      the Management of the Company showing the charges and credits accruing
      from Company Operations;

	 	 	 	 
	 	(i) 	
      “Company Assets” means the Property and all
      improvements and fixtures located on the Property, all ores, metals,
      minerals and mineral products produced from the Property, and all tangible
      and intangible assets obtained by acquisitions, lease, license, or any
      other manner in connection with and in furtherance of the Company’s
      Operations;

	 	 	 	 
	 	(j) 	
      “Company Operations” means all operations and
      activities conducted on or with respect to the Property by or at the
      direction of the Company;

	 	 	 	 
	 	(k) 	
      “Diamond Hill” means Diamond Hill Investments
      Corp., and its assigns and successors;

	 	 	 	 
	 	(l) 	
      “Director” means an individual member of the
      Board;

	 	 	 	 
	 	(m) 	
      “Ownership Interest” means the interest of a Party
      in and to this Agreement, the Shares, any loans by such Party to the
      Company, any rights or obligations to

- - 36 - -

contribute any Required Capital
Contribution and subscribe for additional Shares and all other rights in respect
of, or obligations towards, the Company;

	 	(n) 	 “Party” means one of Wildcat,
        Diamond Hill or any other entity which becomes a party to this Shareholders’
        Agreement as a result of acquiring Shares in accordance with provisions
        hereof and their respective successors and assigns and “Parties”
        means collectively Wildcat and Diamond Hill and all other entities which
        become a party to this Shareholders’ Agreement as a result of acquiring
        Shares in accordance with the provisions hereof;

	 	 	 	 
	 	(o) 	 “Percentage Interest” means
        the respective percentage ownership interests of each of Wildcat and Diamond
        Hill in the Shares as initially provided in Section 2 and thereafter as
        may be adjusted in accordance with this Agreement;

	 	 	 	 
	 	(p) 	 “Permitted Lender” means
        any bank, trust company, insurance company or other arm’s length
        financial institution;

	 	 	 	 
	 	(q) 	 “Products” means any and
        all metallic and non metallic minerals of every kind (excluding only oil,
        gas, casinghead gas and associated liquid and gaseous hydrocarbon substances)
        and shall include, deposits, ores, concentrates, and solutions containing
        such minerals and all forms in which such minerals may be found extracted
        or produced, as well as any by products having commercial value;

	 	 	 	 
	 	(r) 	 “Program” means a plan for
        the conduct of Company Operations to be conducted during a Budget Period;

	 	 	 	 
	 	(s) 	 “Property” means those lands
        situate in the State of Arizona held by the Corporation as more particularly
        set forth and described in Schedule “B” to the Share Purchase
        Agreement, and all rights attached, accruing or appurtenant thereto, together
        with any right or interest in real property later acquired by the Parties
        or their Affiliates and transferred to the Company pursuant to the provisions
        of this Agreement;

	 	 	 	 
	 	(t) 	 “Share” means one of the
        equal parts into which the Company’s capital is divided entitling
        the holder thereof to a proportional part of the profits of the Company
        during its existence and in the remaining Company Assets upon dissolution
        and to vote with respect to the election of the governing body of the
        Company;

	 	 	 	 
	 	(u) 	 “Third Party” means a person,
        firm or corporation who is not:

	 	 	 	 
	 		 (i) a Party to this Agreement; or

	 	 	 	 
	 		 (ii) a “related person” to any Shareholder
        as the concept of “related persons” is used in Section 251 of
        the Income Tax Act; and

	 	 	 	 
	 	(v) 	 “Wildcat” means Wildcat Silver
        Corporation and its assigns and successors;

- - 37 - -

	2. 	
      OWNERSHIP INTERESTS

2.1           Initial
  Percentage Interests. The initial Percentage Interests of the Parties in the
  Company are:

	Wildcat 	80% 
	Diamond Hill 	20% 

Each Party will retain its initial Percentage Interest unless
such interest is modified as provided in Sections 2 and 3 or terminated under
other provisions of this Agreement.

2.2           
  Adjustment of Percentage Interests. If the Ownership Interests of the Parties
  change as a result of a Party not contributing that portion of any Required
  Capital Contribution or subscribing for additional Shares equal to its then
  Percentage Interest pursuant to subsection 3.5, subject to subsection 3.10,
  the Percentage Interest of each Party shall be adjusted accordingly and will
  at all times reflect the then percentage of all outstanding Shares held by such
  Party.

2.3           No
  Recoupment. No Party shall have the right to recoup or regain any Ownership
  Interest lost or reduced pursuant to any provision of this Shareholder Agreement
  by subsequent repayment of an amount previously not contributed.

	3. 	
      PROGRAMS AND BUDGETS

3.1           
  Programs and Budgets. The Program for the initial Budget Period shall be
  the $650,000 Program recommended by Wardrop Engineering Inc. in its technical
  report dated May 6, 2005 for the Property. Thereafter, on or before March 1st
  of each succeeding year, the Board shall prepare or cause to be prepared a Program
  and Budget for the following Budget Period. Each proposed Program and Budget,
  upon delivery to the Board, will be forwarded to the Parties who will have thirty
  (30) days to provide comments to the Board. The Board will meet within fourteen
  (14) days of the end of the thirty (30) day comment period to vote on the Program
  and Budget (modified in accordance with the comments received to the extent
  the Board may by resolution approve). If the Board fails, for any reason, to
  approve a Program and Budget by April 15th in any year, the Company will continue
  Company Operations at levels of activity and expenditure comparable with the
  last Approved Program and Budget, and the last Approved Program and Budget shall
  be deemed extended at such levels for the next ensuing Budget Period or until
  the Board otherwise by resolution decides.

3.2           Increase
  in Capital to Meet Funding Requirements. To the extent that an Approved
  Program and Budget cannot be financed by internally generated funds, or borrowed
  funds, then immediately after the approval of an Approved Program and Budget,
  the Board shall, in accordance with the Company's constating documents (the
  “Constating Documents”), call and convene a general special assembly
  of shareholders, to be held not later than thirty (30) days after the Program
  and Budget are approved, for the purpose of agreeing on an increase in the Company’s
  paid in capital (and, to the extent that payment of the proposed Required Capital

- - 38 - -

Contribution will result in the paid in capital exceeding the
authorized capital, to increase the authorized capital to the extent necessary)
in an amount equal to that amount of the Approved Budget that cannot be funded
by internally generated or borrowed funds (“Required Capital Contribution”). The
Parties agree to vote their shares as necessary to approve such increase of paid
in capital and, if necessary, authorized capital. 

3.3           
  Contributions. Subject to the appropriate provisions in the Constating Documents
  and subsection 3.10 of this Agreement, and within thirty (30) days after approval
  of the increase in capital, each of the Parties shall elect to:

	 	(a) 	
      Subject to section 3.6, contribute such capital and
      subscribe to such additional Shares of the Company in proportion to its
      Percentage Interest in the Company at the time the capital is increased as
      is necessary to contribute to the Company an amount equal to its
      Percentage Interest of the Required Capital Contribution;

	 	 	 
	 	(b) 	
      contribute such capital and subscribe to such additional
      Shares in an amount that is less than calculated in paragraph (a);
    or

	 	 	 
	 	(c) 	
      not contribute any additional capital and not to
      subscribe to any additional Shares in the Company.

All such payments and subscriptions, or the lack of them, shall
constitute the contribution for each of the Parties to an Approved Program and
Budget. A failure to elect within such thirty (30) day period will be deemed an
election not to contribute any Required Capital Contribution or subscribe for
any Shares.

3.4           
  Right of Parties to Overcontribute. If a Party elects or is deemed to have
  elected not to contribute its Required Capital Contribution and not to subscribe
  to additional Shares, or agrees to contribute to the Required Capital Contribution
  and subscribe to Shares in an amount which is less than its Percentage Interest,
  the other Parties that are contributing and subscribing in proportion to their
  Percentage Interest may, subject to the appropriate provisions in the Constating
  Documents of the Company, elect to either:

	 	(a) 	
      contribute capital and subscribe to Shares to cover all
      or a portion of the Required Capital Contribution not contributed to by
      the other Party or Parties; or

	 	 	 
	 	(b) 	
      not contribute capital and subscribe to Shares to cover
      such additional amount.

3.5          
  Reduction in Capital and Payment for Subscribed Shares. Pursuant to the
  Company’s Constating Documents, any additional Shares not subscribed to
  (after the Parties have been given the opportunity to exercise their subscription
  rights for additional Shares resulting from a capital increase) shall be cancelled
  by the Board and the proposed increase in capital reduced to reflect the amount
  of Required Capital Contribution actually paid and the additional Shares actually
  subscribed to by the Parties and the Board of Directors shall reduce the Program
  and Budget to reflect the Required Capital Contribution actually paid and Shares
  actually subscribed for by the Parties. If, as a result of Shares being issued
  to the Parties

- - 39 - -

otherwise than in the same proportion as their respective
Ownership Interests prior to such issuances, the respective Ownership Interests
of the Parties shall be automatically adjusted accordingly.

3.6           
  Timing of Contribution. The timing and manner for payment of subscribed
  for Shares shall be as determined by the Company’s Constating Documents
  and as agreed to by a majority the assembly of shareholders which authorized
  the increase in capital.

3.7           
  Notification as to Elections to Contribute. Only for purposes of considering
  the need to increase the authorized capital of the Company, the Parties agree
  to notify each other as to their decision to subscribe or not subscribe to additional
  Shares before the general assembly, convened by the Board, and immediately after
  receiving the notification by the Board of an Approved Program and Budget; provided,
  however, that such subscription notification shall not affect or alter the amount
  of the increase in paid in capital to be agreed to by the assembly which shall
  be in an amount equal to the Required Capital Contribution adopted by the Board,
  and subject to reduction only as provided for above.

3.8           
  Failure to Make Agreed Required Capital Contribution. If any Party fails
  to pay to the Company the Required Capital Contribution in respect of the number
  of Shares for which it has subscribed, such Party shall be in default and the
  provisions of Section 8 shall apply, as well as the appropriate provisions of
  the Company’s Constating Documents. In guarantee of such payments, each
  Party that has subscribed for additional Shares shall endorse as a guarantee
  and delivery to the Company all of that Party’s certificates of Shares
  previously issued by the Company to such Party. 

3.9           
  Funding by Shareholder Loans. The Parties agree that, should it become more
  advantageous to a majority of the Parties to contribute any additional funds
  that may be required by the Company pursuant to Approved Programs and Budgets
  by way of loans rather than equity, the Parties will do so by way of no fixed
  term non interest bearing unsecured shareholder loans in accordance with resolutions
  of the Board, and further agree to subordinate and postpone any such loans to
  any required development or production financing facility required by the Company.

3.10           
  Carried Interest. Notwithstanding any provision contained herein, the Parties
  agree that one-half of Diamond Hill’s initial Percentage Interest (being
  10%) (the “Carried Interest”) shall be a carried interest and all
  costs and contributions required to be made in respect of such Carried interest
  shall be borne exclusively by Wildcat on Diamond Hill’s behalf from the
  date of this Agreement. For greater certainty, no adjustments to the Carried
  Interest shall be made under any provision in this Agreement, and the Vendor
  shall always hold, and the Parties shall vote their Shares as necessary to ensure
  that the Vendor holds, 10% of the Shares of the Company representing the Carried
  Interest.

3.11           
  Maintenance Costs. During the term of this Agreement Wildcat shall be solely
  responsible for and bear all costs required for maintaining the Property in
  good standing and, notwithstanding any provision contained herein, no adjustments
  to the Parties Percentage Interest shall be made as a result of such costs.

- - 40 - -

	4. 	
      BOARD OF DIRECTORS

4.1           Duties
  of Directors. The Board shall, subject to the terms and conditions of this
  Agreement and the Constating Documents, determine overall policies, objectives,
  procedures, methods and actions of the Company.

4.2           
  Composition of Board. It is the intention of the Parties that if a Party
  has a majority of the aggregate Ownership Interests of the Parties, such Party
  shall have the controlling vote on the Board. Each Party shall vote its Shares
  so that the Board shall be comprised of three (3) Directors and so that the
  Party having at least 50.01% Ownership Interest shall be entitled to appoint
  two (2) nominees to the Board, the other Party or Parties (collectively if more
  than one) being entitled to appoint one. Each Director may in writing appoint
  an alternate to represent him and act and vote on his behalf in his absence,
  provided such alternate is acceptable to the remaining Directors, acting reasonably
  (any notice as to unacceptability being required to be given, if at all, within
  five (5) days of the appointment of such alternate).

4.3           
  Director’s Failure to Vote Agreement. Each Party shall cause the Director(s)
  that it nominates to cast all votes and take all other actions in their capacities
  as Directors in a manner consistent with this Agreement and so as to implement
  its terms and intent. The Parties will forthwith remove or cause the removal
  of any Director who acts in any manner that is inconsistent with the terms and
  conditions of this Agreement. Any action or failure to act by a Director that
  would be a breach of this Agreement if taken by a Party shall be deemed a breach
  of this Agreement by the Party that nominated such Director.

4.4           Frequency
  of Meetings. Subject to subsection 4.6, a meeting of the Directors of the
  Company shall be held at least semi annually in Vancouver, Canada unless all
  Directors agree otherwise. All other meetings of the Directors may take place
  by telephone or other communications facilities by which means all Directors
  participating in the meeting can hear each other. A Director participating in
  a meeting by conference telephone or other communications facilities shall be
  deemed to be present at the meeting and shall be counted in the quorum therefor
  and be entitled to speak and vote thereat.

4.5           
  Additional Meetings in Person. If personal attendance at a directors’
  meeting is, in the reasonable opinion of a Party, required, that Party may call
  (no more than twice each calendar year in addition to the meeting referred to
  in subsection 4.4) such a meeting to be held at the place most conveniently
  located for the Board.

4.6           
  Notice of Directors’ Meetings. Any Director may call a meeting by giving
  seventy two (72) hours’ notice in writing of the time and place of such
  meeting and the general nature of the business to be conducted. Any Director
  may consent in writing to shorter notice of such meeting.

4.7           
  Quorum. A quorum required for the transaction of business at a meeting of
  the Board shall be two (2) persons or their alternates and one (1) of such Directors
  being a nominee of each Party. Notwithstanding the foregoing, if at the time
  scheduled for the meeting a quorum is not constituted because a nominee of one
  Party is not in attendance, the meeting shall be

- - 41 - -

rescheduled to a time which is two (2) days thereafter at the
same place and at such rescheduled meeting the quorum shall be two (2) Directors
or their alternates with no requirement that one (1) of such directors be a
nominee of each Party.

4.8           
  Decisions. Except as set out in subsection 4.9, any question, resolution,
  by law, matter or thing whatsoever submitted for decision or action at any meeting
  of the Board including, without limitation, a decision to approve a Program
  and Budget, shall require the affirmative vote of a majority of the Directors
  present, and if such vote shall not be obtained, the question, resolution, by
  law, matter or thing shall not be determined, passed or enacted. 

4.9           
  Actions Requiring Unanimous Approval. The following matters shall require
  unanimous approval of the Board, even though one Party owns a majority of the
  Ownership Interest:

	 	(a) 	
      the abandonment, sale or disposition of all or
      substantially all of the Company Assets, except that such restriction
      shall not apply to sales or dispositions of Products, surplus or obsolete
      plant or equipment or other materials in the ordinary course of
      business;

	 	 	 
	 	(b) 	
      the winding up of the Company;

	 	 	 
	 	(c) 	
      amendment of the Constating Documents;

	 	 	 
	 	(d) 	
      conducting activities other than Company
    Activities;

	 	 	 
	 	(e) 	
      the alteration of the capital structure of the Company in
      any manner or the issuance of any Shares of the Company other than
      pursuant to section 3 hereof;

	 	 	 
	 	(f) 	
      an amalgamation, merger or consolidation of the Company
      with any other company; and

	 	 	 
	 	(g) 	
      the creation, abandonment, sale or disposition of any
      subsidiaries of the Company.

	5. 	
      TERM OF AGREEMENT

5.1           Unless
  mutually agreed by the Parties, this Agreement shall remain in effect for the
  duration of the Company and thereafter for so long as may be necessary in connection
  with the winding up, liquidation and dissolution of the Company.

	6. 	
      RESTRICTIONS ON ALIENATION

6.1           
  Restrictions on Transfer. Subject to Section 7, no Party (the “Transferor”)
  will transfer, convey, assign, mortgage or grant an option in respect of or
  grant a right to purchase or in any manner transfer or alienate or agree to
  transfer or alienate (all of which are collectively referred to in this Section
  6 as a “Transfer”) any or all of its Ownership Interest except in
  accordance with this Section 6.

- - 42 - -

6.2           
  Transferee’s Covenant to be Bound. No Transfer of any of a Party’s
  Ownership Interest will be effective unless the Transferor is not in material
  default of any term or provision of this Agreement at the time of Transfer and
  until any proposed assignee, transferee, purchaser, grantee or encumbrancer
  of such Ownership Interest (“Transferee”) has executed and delivered
  to all parties an agreement in form and substance satisfactory to counsel for
  the remaining parties, related to this Agreement, containing:

	 	(a) 	
      a covenant by such Transferee with all parties to perform
      all of the obligations of the Transferor to be performed under this
      Agreement in respect of the Ownership Interest to be received by the
      Transferee; and

	 	 	 
	 	(b) 	
      a provision subjecting any further Transfer of such
      Ownership Interest to the provisions of this Section
6;

and, unless consented to by the remaining Party (which consent
may be given subject to reasonable conditions for the protection of the
remaining Party), the Transferor will remain liable for the performance of all
obligations assumed by the Transferee in default of the performance thereof by
the Transferee.

6.3           
  Requirements for Transfer. No Party will Transfer any of its Ownership Interest
  except:

	 	(a) 	
      pursuant to a binding agreement in writing;

	 	 	 
	 	(b) 	
      to a Party that has agreed to be bound by the terms of
      this Agreement and the Purchase Agreement; and

	 	 	 
	 	(c) 	
      as a single transaction not directly or indirectly part
      of some other sale or purchase or agreement for any additional
      consideration of any nature whatsoever.

6.4           
  Notice of Proposed Transfer. Any Party (in this Section 6 called the “Offeror”)
  intending to Transfer its Ownership Interest will first give notice to the other
  Party (in this Section 6 called the “Offeree”) of such intention together
  with the terms and conditions on which the Offeror intends to Transfer its Ownership
  Interest. Any Transfer not made in accordance with the provisions of this Agreement
  will be null and void and of no force or effect.

6.5           
  Notice of Third Party Offer. If any Party (in this Section 6 also called
  the “Offeror”) receives any offer (“Third Party Offer”)
  from a third party (“Third Party”) to Transfer its Ownership Interest
  to such Third Party which it intends to accept, the Offeror will not accept
  the Third Party Offer unless and until the Offeror has first offered to Transfer
  its Ownership Interest to the other Party (in this Section 6 also called the
  “Offeree”) on the same terms and conditions as in the Third Party
  Offer and the same has not been accepted by the Offeree in accordance with subsection
  6.8.

- - 43 - -

6.6           
  Delivery and Content of Notice. Any communication of an intention to sell
  pursuant to subsection 6.4 or of an offer pursuant to subsection 6.5 (each an
  “Offer” for the purposes of this Section 6 only) will be delivered
  in accordance with Section 13 and will: 

	 	(a) 	
      set out fully and clearly all of the terms and conditions
      of any intended Transfer together with a currency equivalent of any non
      cash consideration in Canadian dollars and an explanation of the manner in
      which such currency equivalent was obtained;

	 	 	 
	 	(b) 	
      if it is made pursuant to subsection 6.5, include a
      photocopy of the Third Party Offer and clearly identify the Third Party
      and include such information as is known by the Offeror about the Third
      Party;

and such communication will be deemed to constitute an offer by
the Offeror to the Offeree to Transfer the Offeror’s Ownership Interest to the
Offeree on the terms and conditions set out in such Offer.

6.7           
  Offer Open For Acceptance. Any Offer made as contemplated in subsection
  6.6 will be open for acceptance by the Offeree for a period of thirty (30) days
  from the date of receipt of the Offer by the Offeree.

6.8           
  Acceptance of Offer. If the Offeree accepts the Offer (which acceptance
  must be in respect of all of the Ownership Interest offered by the Offeror)
  within the time limited such acceptance will constitute a binding agreement
  between the Offeror and the Offeree to Transfer the Ownership Interest (or portion
  thereof in respect of which the Offer was accepted) to the accepting Offeree
  on the terms and conditions set out in such Offer.

6.9           
  Non Acceptance of Offer. If the Offeree does not accept the Offer within
  the time limited the Offeror may, subject to Section 6.16, complete a Transfer
  of the Ownership Interest on terms and conditions which are no more favourable
  to the potential transferee than those set out in the Offer and, where applicable,
  only upon exactly the same terms as the Third Party Offer and to the Third Party,
  and in any event such Transfer must be completed within one hundred and twenty
  (120) days from the expiration of the right of the Offeree to accept such Offer
  or the Offeror must again comply with the provisions of this article with respect
  to the Ownership Interest.

6.10           
  Only One Offer to be Outstanding. While any Offer is outstanding no other
  Offer may be made until the first mentioned Offer is disposed of and any sale
  resulting therefrom completed in accordance with the provisions of this Section
  6.

6.11           
  Failure to Comply. Each Party agrees that its failure to comply with the
  restrictions set out in this Section 6 would constitute an injury and damage
  to the other Party impossible to measure monetarily and, in the event of any
  such failure the other Party will, in addition and without prejudice to any
  other rights and remedies at law or in equity, be entitled to injunctive relief
  restraining or enjoining any Transfer of a Party’s Ownership Interest,
  save in accordance with the provisions of this Section 6, and any Party intending
  to make a Transfer or

- - 44 - -

making a Transfer contrary to the provisions of this section
hereby waives any defence it might have in law to such injunctive relief.

6.12           Exceptions.
  The provisions of subsections 6.4 to 6.10 are subject to subsections 6.1 to
  6.3, but subsections 6.4 to 6.10 do not apply to:

	 	(a) 	
      Transfers to an Affiliate, provided that each such
      Affiliate agrees to retransfer the Ownership Interest received prior to it
      ceasing to become an Affiliate; and

	 	 	 	 
	 	(b) 	
      corporate reorganizations, mergers or similar
      transactions whereby:

	 	 	 	 
	 		(i) 	
      a Party is succeeded by another entity which holds
      substantially all of the assets and rights, and is subject to
      substantially all of the debts and liabilities, of the predecessor Party,
      and

	 	 	 	 
	 		(ii) 	
      effective control of the other entity has not been
      materially changed as a result of such reorganization, merger or similar
      transaction.

6.13           Intent
  of Exceptions. The Parties acknowledge that the intent of subsection 6.12
  is to permit those transactions specifically referenced and not to allow a third
  party which is not an Affiliate of a Party to acquire a legal, beneficial or
  equitable ownership of that Party’s Ownership Interest by virtue of such
  transaction. Accordingly, if a Party Transfers its Ownership Interest in a circumstance
  which would otherwise be an exempted transaction within the provisions of subsection
  6.12 and has, at the time of the otherwise exempt transaction, as one of its
  objectives (the proof of which will be on the Party seeking to challenge the
  status of the transaction) the intention of the eventual disposition, directly
  or indirectly, of that Party’s Ownership Interest to a person other than
  an Affiliate of that Party, such Party will not be entitled to rely upon the
  provisions of subsection 6.12 and the Transfer will not be an exempt Transfer
  for the purposes of that subsection.

6.14           
  Presumption of Intent. Without limitation, a Party will be deemed to have
  had the objective described in subsection 6.13 if, within one (1) year from
  the date of the otherwise exempt transaction pursuant to subsection 6.12, a
  controlling interest in the shares or other evidence of ownership of the assignee
  of such Party’s Ownership Interest is Transferred to any person other than
  an Affiliate of such Party. No Party will have the right to object to, or take
  any proceedings in respect of, any Transfer purported to be made pursuant to
  subsection 6.12 on the grounds that such transaction is, by reason of subsection
  6.13, not an exempt Transfer pursuant to subsection 6.12 unless such objection
  is made known to the transferring Party and its assignee within two (2) years
  of the date of such Transfer.

6.15           
  Certificate and Registry Legend. All certificates representing Shares shall
  contain language to the effect that the Shares are subject to this Agreement,
  and a notation as to this Agreement shall also be reflected in the book of registry
  of Shares.

6.16           
  Tag-Along Rights. Where a Party or group of Parties (collectively, the “Target
  Shareholder”) receives and wishes to accept a bona fide offer from,
  or proposes to sell to, as the

- - 45 - -

case may be (a “Trigger Offer”), a Third Party (a
“Proposed Purchaser”), all or part of the Shares of the Target
Shareholder, which would result in that Third Party owning or acquiring, through
one transaction or a series of transactions, more than fifty percent (50%) of
all the issued and outstanding Shares of the Company at that time, the Target
Shareholder will not be permitted to dispose of all or part of its Shares to
that Proposed Purchaser under the Trigger Offer unless the Target Shareholder
first obtains from the Proposed Purchaser a bona fide offer (a “Tag-Along
Offer”), addressed to each of the other Parties, under which the Proposed
Purchaser offers to purchase all, but not less than all, of the Shares held by
each of the other Parties, for the same price per Share and on substantially the
same terms and conditions that the Proposed Purchaser is proposing to purchase
the Target Shareholder’s Shares under the Trigger Offer. The Proposed Purchaser
must deliver the Tag-Along Offer to all other Parties, and it must be
accompanied by a copy of the Trigger Offer. Each of the other Parties shall be
entitled to accept the Tag-Along Offer within 30 days after its receipt, by each
of them. To be effective, any other Party wishing to accept the Tag-Along Offer
must provide written acceptance thereof to the Proposed Purchaser within that
30-day acceptance period. The sale to the Proposed Purchaser of the Shares (or
part thereof) held by the Target Shareholder under the Trigger Offer and the
Shares held by those other Shareholders that have accepted the Tag-Along Offer
must be completed by the relevant parties concurrently and in accordance with
the terms of the Trigger Offer and the Tag-Along Offer. The provisions of this
Section 6.16 shall not apply to any transfer of Shares that falls within Section
6.12. If all or any of the Shares of a Shareholder are transferred to another
corporation or corporations as permitted under Section 6.12, that Shareholder
shall ensure that the shares of the corporation or corporation that holds those
transferred Shares are not transferred to a Third Party in such a manner as to
circumvent the provisions and intent of this Section 6.16.

6.17           Drag-Along
  Rights - If Parties who hold at least seventy five percent (75%) of the
  Shares of the Company receive a bona fide offer from a Third Party to purchase
  all, but not less than all, of the Shares of the Company (a “Drag-Along
  Offer”), those Parties who hold at least seventy five percent (75%)
  of the Shares of the Company wish to accept the Drag-Along Offer, those Parties
  may require all other Parties to also accept the Drag-Along Offer, provided
  that:

	 	(a) 	
      the terms and conditions of the Drag-Along Offer,
      including the consideration to be paid on a pro rata basis, are no less
      favourable to the other Parties than they are to those Parties who
      received the Drag-Along Offer;

	 	 	 
	 	(b) 	
      all payments to be made to the other Parties under the
      Drag-Along Offer are to be made in cash, certified cheque, bank draft or
      shares of a publicly-traded company forthwith upon acquisition of the
      Shares; and

	 	 	 
	 	(c) 	
      no other Party is required to provide any representations
      and warranties, or give any undertaking or incur or assume any liability,
      in connection with the Drag- Along Offer, except the usual and customary
      representations relating to that Parties’ due authorization, ownership and
      unencumbered title to the Shares and, if applicable, corporate
    power.

- - 46 - -

For greater certainty, the parties acknowledge that the
restrictions on transfer provisions set out in clause 6.1 shall have no
application in the event of a Drag-Along Offer.

	7. 	
      PERMITTED FINANCINGS AND
  REQUIREMENTS

7.1           Permitted
  Financings. A Party may, for the purposes of financing its contributions
  hereunder in connection with any production program to place a mine into production
  on the Property, assign, transfer, mortgage, pledge, charge, hypothecate or
  grant another form of security interest or all or any portion of its Ownership
  Interest.

7.2          
  Security Interests. If a Party grants a mortgage, pledge, charge or other
  form of security interest on its Ownership Interest to, a Permitted Lender to
  secure a loan or other indebtedness of a Party in a bona fide transaction pursuant
  to subsection 7.1, such mortgage, pledge, charge, hypothec or other form of
  security interest will be subordinate to the terms of this Agreement and the
  rights and interests of the other Parties under this Agreement. Upon any foreclosure
  or other enforcement of rights in the security interest, the acquiring third
  party shall be deemed to have assumed the position of the encumbering Party
  with respect to this Agreement, and it shall comply with and be bound by the
  terms and conditions of this Agreement.

7.3           
  Confirmation of Agreement on Request. Whether or not requested to do so
  in the context of an assignment of this Agreement, on the written request of
  a Party, the other(s) will promptly provide a statement addressed to any person
  designated by the requesting Party confirming if this Agreement is in full force
  and effect, whether it has been amended and, if so, particulars of any amendments,
  whether there are any outstanding defaults or disputes between the parties,
  and providing such other information as may be reasonably requested by the Permitted
  Lender.

7.4           
  Assignment to Permitted Lender. If this Agreement is assigned to a Permitted
  Lender by a Party (the “Assigning Party”) pursuant to this Section
  7, the Parties agree that: 

	 	(a) 	
      the Permitted Lender will not be responsible for any
      obligation of the Assigning Party under this Agreement until such time as
      the Permitted Lender notifies the other Parties that it is assuming the
      obligations of the Assigning Party hereunder;

	 	 	 
	 	(b) 	
      if the remaining Parties have notice of such assignment,
      the remaining Parties will not modify or amend this Agreement without the
      prior written consent of the Permitted Lender, and any modification or
      amendment to this Agreement which is made without such consent shall be
      void as against the Permitted Lender;

	 	 	 
	 	(c) 	
      upon the occurrence of an event of default under this
      Agreement, the remaining Parties will concurrently provide to any
      Permitted Lender of which they have notice copies of notice of any default
      by the Assigning Party which the remaining Parties may send to the
      Assigning Parties, and will afford to the Permitted Lender the same period
      of time to cure such default as may be provided in this Agreement or as
      the remaining Parties may allow the Assigning Party;
and

- - 47 - -

	 	(d) 	
      if an event of default occurs which cannot be cured or in
      respect of which there is no cure period under this Agreement, upon
      termination of this Agreement, the remaining Parties will provide written
      notice of such default and termination, and will allow the Permitted
      Lender thirty (30) days to enter into a new agreement on the same terms as
      this Agreement, and upon the Permitted Lender entering into such
      Agreement, the Permitted Lender will be entitled to all of the rights and
      subject to all of the obligations of the Assigning Party which have
      accrued to the date of termination of this
Agreement.

	8. 	
      DEFAULT

8.1           
  Notice and Cure. Except in the case of default relating to the payment for
  Shares which have been subscribed to in accordance with subsection 3.3, which
  default shall be dealt with in accordance with subsection 3.8 and the Constating
  Documents of the Company, in the event a Party (the “Notifying Party”)
  believes that another Party (the “Defaulting Party”) is in default
  in the observance or performance of any of its covenants or obligations hereunder,
  the Notifying Party may give written notice to the Defaulting Party of such
  alleged default specifying the details of the same. The Defaulting Party shall
  have thirty (30) days following service of the notice within which to cure the
  default; or with respect to a default which cannot reasonably in all due diligence
  be cured within such period, to commence action in good faith to cure such default.
  Unless the Defaulting Party shall so comply or commence to comply, the provisions
  of subsection 8.2 shall apply. If the Defaulting Party believes that it is not
  in default it may give written notice to the Notifying Party, within the thirty
  (30) day period, stating such fact and, in such event, the Notifying Party must
  secure a final judicial determination by a court of competent jurisdiction that
  the default in fact exists. If there is a judicial determination that the Defaulting
  Party is in default, the provisions of subsection 8.2 shall not apply if the
  Defaulting Party cures the default within thirty (30) days following entry with
  the appropriate registry of such determination (or if an appeal of such, judgment
  is taken, following affirmation of such determination by the highest court to
  which such an appeal is made).

8.2           
  Failure to Cure. If a Defaulting Party has not cured a default as provided
  in subsection 8.1, the Party’s entire remaining Ownership Interest in the
  Company, other than the Carried Interest if applicable, shall be transferred
  and conveyed by the Defaulting Party to the other Parties in proportion to their
  then respective Ownership Interests or to the acquiring Parties’ designees.
  The Defaulting Party shall promptly execute all documents, instruments and assignments
  including, without limitation, endorsements of the corresponding certificates
  of Shares under the Constating Documents of the Company for proper recording
  in the Company’s book of registry of shares, confirming the transfer and
  conveyance of all of its right, title, and interest in and to its Ownership
  Interest to the other Parties, or their designees.

8.3           
  Damages in Lieu. Subsection 8.2 shall not apply to a default which by its
  nature is not retroactively curable if the Defaulting Party has used its best
  efforts to cure such a default to the extent practical and has paid the Notifying
  Party damages in respect of such default where damages are an appropriate remedy.

- - 48 - -

	9. 	
      CONFIDENTIALITY

9.1           Confidentiality.
  The Parties, except as required by applicable Canadian and United States law
  or the rules and regulations of any stock exchange or other securities market
  upon which the shares of a Party or an Affiliate are listed, agree to treat
  all data, reports, records and other information relating to the Property and
  Company Operations (“Confidential Information”) as confidential, provided
  that if Confidential Information becomes available to the public without breach
  of this subsection 9.1, it shall no longer be deemed Confidential Information.

9.2           
  Disclosure of Confidential Information. Confidential Information shall not
  be disclosed to any third person except to auditors, legal counsel, investment
  bankers, institutional lenders and broker dealers of the Parties, provided that
  non Party users of Confidential Information are strictly limited to those purposes
  necessary for non Party users to perform the function for which they are retained
  by the Parties.

	10. 	
      NOTICE

10.1           
  Notice. Any notice, direction or other instrument required or permitted
  to be given under this Agreement will be in writing and may be given by the
  delivery of the same or by mailing the same by prepaid registered or certified
  mail or by sending the same by telegram, telex, telecommunication, facsimile
  or other similar form of communication, in each case addressed as follows:

	 	(a) 	if to Diamond Hill at: 
	 	  	  
	 	  	Diamond Hill Investments Corp. 
	 	  	5903 Larch Street 
	 	  	Vancouver, B.C. 
	 	  	V6M 4E5 
	 	  	  
	 	  	Attention: President 
	 	  	Facsimile No.: (604) 267-1149 
	 	  	  
	 	(b) 	if to Wildcat at: 
	 	  	  
	 	  	Wildcat Silver Corporation
	 	  	400-837 West Hastings Street 
	 	  	Vancouver, B.C. 
	 	  	V6C 3N6 
	 	  	  
	 	  	Attention: President 
	 	  	Facsimile No.: (604) 687-1715

- - 49 - -

	 	(c) 	
      if to the Company at:

	 	 	 
	 		 Arizona Minerals Inc. 

        c/o 5903 Larch Street 

        Vancouver, B.C. 

        V6M 4E5

	 	 	 
	 		 Attention: President

        Facsimile No.: (604) 267-1149

	10.2          Any
      notice, direction or other instrument will:
	 	 	 
		(a) 	 if delivered, be deemed to have been given and received
        on the day it was delivered; and

	 	 	 
		(b) 	 if sent by facsimile, be deemed to have been given and
        received on the business day following the day it was so sent.

10.3           Any
  party may at any time give to the others notice in writing of any change of address
  of the party giving such notice and from and after the giving of such notice
  the address or addresses therein specified will be deemed to be the address
  of such party for the purposes of giving notice hereunder.

	11. 	
      ARBITRATION

11.1           
  Requirement for Arbitration. Any dispute, controversy or claim arising
  out of or relating to this Agreement, or the breach, termination or invalidity
  of it, or any deadlock or inability of the Shareholders or the Board to agree
  on a course of action to be taken hereunder, will be referred to and finally
  resolved by arbitration under the rules of the British Columbia International
  Commercial Arbitration Centre in effect on the date hereof.

11.2            Arbitration
  Procedure. The Parties agree that:

		(a) 	
      the appointing authority will be the British Columbia
      International Commercial Arbitration Centre;

	 	 	 
		(b) 	
      the case will be administered by the British Columbia
      International Commercial Arbitration Centre in accordance with its
      “Procedures for Cases under the BCICAC Rules”;

	 	 	 
		(c) 	
      the place of arbitration will be Vancouver, British
      Columbia;

	 	 	 
		(d) 	
      the number of arbitrators will be three; and

	 	 	 
		(e) 	
      the language used in the arbitral proceeding will be
      English.

- - 50 - -

11.3           
  Arbitration Fees. The arbitrators’ fees will be paid by both Parties
  in equal parts during the course of the arbitration but upon final decision
  of the dispute, the defeated Party will pay all costs and reimburse all arbitration
  costs, including the amounts paid by the prevailing Party, subject to the contrary
  decision of the arbitrators.

	12. 	
      GENERAL

12.1          
  Memorandum for Recording. This Agreement will be recorded in the Company’s
  book of registry of shares in order to provide notice to interested third parties,
  as appropriate. 

12.2           
  Laws and Regulations. This Agreement will be governed by the law of British
  Columbia and is subject to all applicable laws, rules and regulations of public
  bodies having jurisdiction over Company Operations or the development or operation
  of the Property.

12.3           
  Title Headings. The title headings of the respective sections and subsections
  of this Agreement are inserted for convenience only and shall not be deemed
  to be a part of this Agreement or considered in construing this Agreement.

12.4           
  Further Instruments. The Parties agree that they will execute any and all
  other instruments as may be necessary or required to carry out and effectuate
  any and all of the provisions of this Agreement.

12.5           Binding
  Effect. This Agreement shall be binding upon and enure to the benefit of
  the Parties and their successors and permitted assigns.

12.6           
  Complete Agreement. The Share Purchase Agreement and this Agreement, including
  all of their respective exhibits, constitute the complete understanding of the
  Parties with respect to the Property, the Company and their Ownership Interests.
  All previous agreements, except the Share Purchase Agreement, are superseded.
  No modification or alteration of this Agreement shall be effective unless in
  writing and executed by the Parties. No prior written or contemporaneous oral
  promises, representations or agreements, except the Agreement, shall be binding
  upon the Parties.

	13. 	
      EFFECTIVE DATE

13.1 Notwithstanding the actual date of execution of this
Agreement by each of the Parties hereto, the Parties intend and declare that
this Agreement will be effective as and from the 18th day of May, 2006 as if
each Party had executed and delivered it on such date.

- - 51 - -

     IN WITNESS WHEREOF the Parties
have executed this Agreement by their duly authorized representatives in that
behalf as of the 18th day of May, 2006.

	 	 WILDCAT SILVER CORPORATION
        

          

	 	By: 	 
	 	               	  Title: 

	 	 	 
	 	 DIAMOND HILL INVESTMENT CORP.
        

          

	 	By: 	 
	 	             
    	  Title: 
	 	 	 
	 	ARIZONA MINERALS INC. 

          

	 	By: 	 
	 	               	 Title:

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