Document:

THIS
LOAN AGREEMENT, made as of
the 30th day of
April, 2009, but having an effective date of January 21, 2009.

    

    BETWEEN:

    

    AMR
PROJECT PERU, S.A.C., a company incorporated under the laws of Peru and
having an address for notice and delivery located at Av. Arenales 335, Cercado, Lima,
Peru

    

    (the
“Company”)

    

    OF THE
FIRST PART

    

    AND:

    

    AFFINITY
GOLD CORP., a company incorporated under the laws of the Sate of Nevada
and having an address for notice and delivery located at 7950 Main Street, Suite
#217, Maple Grove, MN  55369

    

    (the
“Lender”)

    

    OF THE
SECOND PART

    

    WHEREAS:

    

    A.           The
Lender has agreed to loan to the Company up to the principal amount of US Four
Hundred Thousand dollars (US$400,000) in installments on the terms and
conditions set forth in this Agreement for the purposes of financing the Company
with such funds being used to purchase equipment and supplies and to conduct
exploration and other related expenses on the mining concession named
“AMR Project” covering 500 hectares and the physical mining concession
certificate as evidenced by Certificate No. 7996-2006-INACC-UADA granted to the
Company by the Republic of Peru, National Institute of Concessions and Mining
Cadastre on December 11, 2006.

    

    B.           The
Lender and the Company have entered into an Amendment Agreement, whereby the
parties have agreed to change the structure of the prior arrangement between the
parties from an asset purchase agreement to a share exchange agreement which
will result in the Company becoming a wholly owned
subsidiary of the Lender upon closing of the share exchange
agreement.

    

    C.           Upon
the completion of the share exchange agreement between the Lender and the
Company, the loan from the Lender to the Company will become an inter-corporate
loan.  However, if the share exchange agreement between the Lender and
the Company is not completed, then the loan from the Lender to the Company will
be due in accordance with the terms and conditions set forth in this
Agreement.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    - 2 -

     

    NOW THEREFORE IN CONSIDERATION
of the mutual agreements herein contained, the parties hereto agree as
follows:

    

    
      	
              1.

            	
              Loan.  The
      Lender hereby agrees to loan to the Company at its request and in
      accordance with its instructions as to where funds are to be sent, and on
      the terms and conditions contained herein, up to the aggregate principal
      sum of U.S. FOUR HUNDRED THOUSAND dollars (US$400,000) (the “Loan”) by transferring
      funds in installments as requested by the Company within five days or
      earlier up to the aggregate amount of
  US$400,000.

            

    

    

    
      	
              2.

            	
              Interest
      Rate.  The Loan will not bear any interest on the
      outstanding principal amount.

            

    

    

    
      	
              3.

            	
              Repayment of the
      Loan.  The Loan will be due and payable one year from the
      date of this Agreement.  However, if the Lender becomes the
      owner of the Company through the Lender’s acquisition of all the
      outstanding capital of the Company, then such Loan will be treated as an
      inter-corporate loan and dealt with as the respective Board of Directors
      of the inter-related companies shall determine and/or shall be dealt with
      in such other manner mutually agreed by the
  parties.

            

    

    

    
      	
              4.

            	
              Representations and Warranties
      of the Company.  To induce the Lender to agree to make
      the Loan, the Company represents and warrants to the Lender
      that:

            

    

    

    
      	
               
      

            	
              (a)

            	
              The
      Company is a company duly incorporated and validly subsisting under the
      laws of Peru, has all requisite corporate capacity, power, and authority
      to own its assets; to carry on its business as now conducted or as
      proposed to be conducted; and to enter into and to carry out the
      transactions contemplated by this
Agreement;

            

    

    

    
      	
               
      

            	
              (b)

            	
              The
      Company is not a party to any agreement or instrument or subject to any
      corporate restrictions which would restrict the ability of the Company to
      perform its obligations under this Agreement;
  and

            

    

    

    
      	
               
      

            	
              (c)

            	
              The
      Company has taken or caused to be taken all necessary action, corporate or
      otherwise, to authorize, and has duly executed and delivered this
      Agreement.

            

    

    

    
      	
              5.

            	
              Assignment.  This
      Agreement may not be assigned by either party hereto except with the prior
      written consent of the other party.

            

    

    

    
      	
              6.

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

            

    

    

    
      	
              7.

            	
              Entire
      Agreement.  This Agreement, together with any other
      writing signed by the parties expressly stated to be supplementary hereto,
      constitutes the entire Agreement between the parties and supersedes all
      prior understandings and writings to which the Lender and the Company are
      parties.

            

    

    

    
      	
              8.

            	
              Governing Law and
      Jurisdiction.  This Agreement shall be deemed to be
      governed by and construed in accordance with the laws of the State of
      Nevada.  For the purposes of any legal actions or proceedings
      brought by the Lender in respect to this Agreement, the parties hereby
      irrevocably submit to the exclusive jurisdiction of the courts of Nevada
      and acknowledge their competence and the convenience and propriety of the
      venue and agree to be bound by any judgment thereof and not to seek, and
      hereby waive, any review of its merits by the courts of any other
      jurisdiction.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    - 3 -

     

    
      	
              9.

            	
              Conflicts.  The
      Lender hereby acknowledges that Jensen Lunny MacInnes Law Corporation acts
      solely for the Lender in connection herewith and the preparation of this
      Agreement and that the Lender and Jensen Lunny MacInnes Law Corporation
      has requested that the Company seek and obtain independent legal advice in
      connection with the review and execution of this
  Agreement.

            

    

    

    
      	
              10. 
      

            	
              Further
      Assurances.  The parties will from time to time after the
      execution of this Agreement make, do, execute or cause or permit to be
      made, done or executed, all such further and other acts, deeds, things,
      devices and assurances in law whatsoever as may be required to carry out
      the true intention and to give full force and effect to this
      Agreement.

            

    

    

    
      	
              11.

            	
              Currency.  All
      payments required to be made pursuant to the provisions of this Agreement
      and all money amount references contained herein are in lawful currency of
      the United States of America.

            

    

    

    
      	
              12. 
      

            	
              Severability.  If
      any term of this Agreement is partially or wholly invalid or
      unenforceable, the remainder of this Agreement will not be affected and
      each remaining term will be separately valid and
    enforceable.

            

    

    

    
      	
              13. 
      

            	
              Interpretation.  In
      this Agreement, using separate parts and inserting headings are for
      convenient reference only and will in no way define, limit, construe or
      describe the scope or intent of this Agreement nor in any way affect this
      Agreement.

            

    

    

    
      	
              14.

            	
              Counterparts.  This
      Agreement may be executed by the parties in as many counterparts as may be
      necessary, and via facsimile if necessary, each of which so signed shall
      be deemed to be an original and all of which taken together shall be
      deemed to constitute one and the same instrument, and, notwithstanding
      the date of execution, being deemed to bear the execution date as set
      forth on the front page of this
  Agreement.

            

    

    

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

    

    
      
        	
                AMR
      PROJECT PERU, S.A.C.

              	 
      	
                AFFINITY
      GOLD CORP.

              
	
                The
      Company herein

              	 
      	
                The
      Lender herein

              
	
                per:

              	 
      	
                per:

              
	
                /s/ Antonio Rotundo

              	 
      	 
      	
                /s/ Corey J. Sandberg

              
	
                Authorized
      Signatory

              	 
      	 
      	
                Authorized
      Signatory

              
	 
      	 
      	 
      	 
      
	
                Antonio Rotundo

              	 
      	 
      	
                Corey J. Sandberg, Sec. &
      Director

              
	
                (print
      name and title)

              	
                  

              	 
      	
                (print
      name and title)

              

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    - 4 -

     

    Schedule
“A”

    This is
Schedule “A” to the Loan Agreement between AMR Project Peru, S.A.C. and Affinity
Gold Corp., dated the 30th day of
April, 2009, but having an effective date of January 21, 2009.

    

    List of Installment Advances
to the Company

    

    
      
        
          
            
              	
                      Date of Installment Advance

                    	 	
                      Amount in US$

                    	 
	
                      Jan.
      21, 2009

                    	 	$	70,000	 
	
                      Jan.
      23, 2009

                    	 	$	20,000	 
	
                      Jan.
      27, 2009

                    	 	$	20,000	 
	
                      Feb.
      13, 2009

                    	 	$	50,000	 
	
                      Feb.
      25, 2009

                    	 	$	45,000	 
	
                      Mar.
      17, 2009

                    	 	$	11,000	 
	
                      Mar.
      26, 2009

                    	 	$	20,000	 
	
                      April
      8, 2009

                    	 	$	46,000	 
	
                      May
      6, 2009

                    	 	$	25,000	 
	
                      May
      8, 2009

                    	 	$	10,000	 
	
                      May
      20, 2009

                    	 	$	30,000EXTENSION
AGREEMENT

       

      BETWEEN:

       

      AFFINITY
GOLD CORP.

       

      and

       

      AMR
PROJECT PERU S.A.C.

       

      and

       

      ANTONIO
ROTUNDO

      MARIO
ROTUNDO

       

      WHEREAS the parties are party to a
Share Exchange Agreement dated May 8, 2009;

       

      AND WHEREAS Article 6.2 of the Share
Exchange Agreement provides that the latest closing date of the transactions
contemplated therein shall occur no later than June 30, 2009, subject to an
extension as may be mutually agreed to by the parties for a maximum of 14 days
per extension;

       

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

       

      1.                         
Since the closing of the Share Exchange Agreement will not occur by June 30,
2009, the closing date shall be extended so that the closing shall take place on
or before July 14, 2009.

       

      2.                         
All other terms and conditions of the Share Exchange Agreement shall remain in
full force and effect.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      3.                        
This
Agreement may be executed in original or counterpart form, delivered by
facsimile or otherwise, and when executed by the parties as aforesaid, shall be
deemed to constitute one agreement and shall take effect as such.

       

      DATED with effect this 29th day of
June, 2009.

       

      
        
          
            
              
                
                  
                    	
                            AFFINITY GOLD
      CORP.,

                          	
                            )

                          
	
                            The
      Acquirer,

                          	
                            )

                          
	 
      	
                            )

                          
	 
      	
                            )

                          
	
                            Per: /s/ Corey J. Sandberg

                          	
                            )

                          
	
                            Authorized
      Signatory

                          	
                            )

                          
	 
      	
                            )

                          
	
                            Corey J. Sandberg, Secretary &
      Director

                          	
                            )

                          
	
                            (print
      name and title)

                          	 
      
	 
      	 
      
	
                            AMR PROJECT PERU
      S.A.C.,

                          	
                            )

                          
	
                            the
      Company,

                          	
                            )

                          
	 
      	
                            )

                          
	 
      	
                            )

                          
	
                            Per: /s/ Antonio Rotundo

                          	
                            )

                          
	
                            Authorized
      Signatory

                          	
                            )

                          
	 
      	
                            )

                          
	
                            Antonio Rotundo, General
      Manager

                          	
                            )

                          
	
                            (print
      name and title)

                          	 
      

                  

                

              

            

          

        

      

      

      
        
          
            
              
                	
                        SIGNED
      and DELIVERED by

                      	
                        )

                      	 
      
	
                        ANTONIO ROTUNDO,
      a Vendor

                      	
                        )

                      	 
      
	
                        in
      the presence of:

                      	
                        )

                      	 
      
	 
      	
                        )

                      	 
      
	
                        /s/ Diego Otoya

                      	
                        )

                      	 
      
	
                        Witness
      Signature

                      	
                        )

                      	
                        /s/ Antonio Rotundo

                      
	
                        Psc.
      Cesar Bazaraz Mz. E2

                      	
                        )

                      	
                        ANTONIO ROTUNDO

                      
	
                        Lt. 22, SVCCO

                      	
                        )

                      	 
      
	
                        Witness
      Address

                      	
                        )

                      	 
      
	 
      	
                        )

                      	 
      
	
                        Diego Otoya, Accountant

                      	
                        )

                      	 
      
	
                        Witness
      Name and Occupation

                      	
                        )

                      	 
      

              

            

          

        

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      

      
        
          
            
              	
                      SIGNED
      and DELIVERED by

                    	
                      )

                    	 
      
	
                      MARIO ROTUNDO, a
      Vendor

                    	
                      )

                    	 
      
	
                      in
      the presence of:

                    	
                      )

                    	 
      
	 
      	
                      )

                    	 
      
	
                      /s/ Dominec Piacente

                    	
                      )

                    	 
      
	
                      Witness
      Signature

                    	
                      )

                    	
                      /s/ Mario Rotundo

                    
	 
      	
                      )

                    	
                      MARIO ROTUNDO

                    
	
                      108 Sonoma Blvd., Woodbridge,
      Ontario

                    	
                      )

                    	 
      
	
                      Witness
      Address

                    	
                      )

                    	 
      
	 
      	
                      )

                    	 
      
	
                      Dominec Piancente

                    	
                      )

                    	 
      
	
                      Witness
      Name and Occupation

                    	
                      )

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