Document:

Mexoro Exhibit 10.22

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    Exhibit
      10.22

    
 

    EXPLORATION,
      WORK AND SALE PROMISE CONTRACT ENTERED INTO BY “CORPORATIVO MINERO, S.A. DE
      C.V.” (HEREINAFTER REFERRED TO AS “THE PROMISOR”), REPRESENTED BY ITS PROXY JOSE
      CONRADO TERRAZAS CANO AND BY “MINERA RIO TINTO, S.A. DE C.V.” (HEREINAFTER
      REFERRED TO AS “THE EXPLORATION COMPANY”) REPRESENTED BY ITS PROXY MARIO AYUB,
      PURSUANT TO THE FOLLOWING STATEMENTS AND CLAUSES:

    

    S
      T A T E
      M E N T S 

    

    I.
      THE
      PROMISSOR states:

    

    
      	a)  	
              To
                be a mining corporation legally incorporated pursuant to the laws
                of the
                Mexican Republic, legally authorized to enter into this contract
                and to be
                the holder of mining concessions;

            

    

    

    
      	b)  	
              That
                its legal proxy Jose Conrado Terrazas Cano is duly authorized to
                represent
                it and to bind it under the terms and conditions of this
                contract;

            

    

    

    
      	c)  	
              To
                be the legal holder of the rights derived from the working mining
                concessions existing over the mining lots (“THE
                LOTS”):

            

    

     

    
      	 NAME OF THE
              LOT	 TITLE
              NUMBER	 HAS.
	 	 	 
	 AURÍFERO	 1963356	 492
	 AURÍFERO NORTE	 196153	 60
	 LA MARAVILLA	 190479	 48
	 AQUILÓN UNO 	 208339	 222

    

       

    All
      THE
      LOTS are located at the Municipality of Urique, State of Chihuahua, within
      the
      district of the Mining Agency of Chihuahua, Chih.

    

    
      	d)  	
              That,
                except for the payment of rights on mining concessions, in regards
                to
                those mining concessions over THE LOTS, as their holder is up to
                date in
                the fulfillment of each and all obligations provided by the Mining
                Law,
                its Ordeal and any other applicable legal regulation and, likewise,
                the
                rights derived from the existing mining concessions over THE LOTS,
                are
                free of any lien, encumbrance or limitation of ownership;
                and,

            

    

    

    
      	e)  	
              To
                be willing to award to THE EXPLORATION COMPANY the right to explore
                and
                work THE LOTS and also award sale promise of the rights derived from
                the
                existing mining concessions over THE LOTS; therefore, it is willing
                to
                enter into this contract pursuant to the terms and conditions provided
                hereby.

            

    

    

    II.
      - THE
      EXPLORATION COMPANY states:

    

    
      	a)  	
              To
                be a mining corporation legally incorporated pursuant to the laws
                of the
                Mexican Republic, legally authorized to enter into this contract
                and to be
                the title holder of mining
                concessions;

            

    

    

    
      	b)  	
              That
                its legal proxy Mario Ayub, is duly authorized to represent it and
                to
                enter into this contract; and

            

    

    

    
      	c)  	
              To
                be willing to receive the right to explore and work THE LOTS and
                the call
                option mining work contract of the rights derived from the mining
                concessions existing over the same, under the terms and conditions
                provided hereby.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    In
      accordance to the above Statements, the parties agree on the
      following:

    

    C
      L A U S
      E S 

    

    FIRST.
      Right
      to explore THE LOTS.-
      THE
      PROMISSOR awards THE EXPLORATION COMPANY the exclusive rights to explore and,
      if
      applicable, work THE LOTS as long as the existing mining concessions are in
      effect or until new concessions are issued over THE LOTS or one of them; thus,
      THE EXPLORATION COMPANY may perform during such time, all kinds of exploration
      and mining work over THE LOTS provided by the Mining Law, its Ordeal and mining
      concessions allow the mining concessionaires to carry out.

    

    If
      THE
      EXPLORATION COMPANY desires to maintain in effect this contract, it agrees
      with
      THE PROMISSOR to directly invest in exploration, development and mining work
      on
      THE LOTS the minimum amount of one million U. S. dollars during the first year
      while this contract is in effect, and to initiate the commercial production
      of
      THE LOTS within one year from the signature date of this contract.

    

    Based
      on
      the fact that THE PROMISSOR knows THE LOTS, and its previous operation and
      production, the parties agree that THE PROMISSOR or Minera Grupo Factor, S.
      A.
      DE C. V. (an affiliate), shall participate and work directly together with
      THE
      EXPLORATION COMPANY in the exploration, development, production and mining
      work
      carried out in THE LOTS to obtain a higher operation efficiency.

    

    SECOND.
      Right
      of early termination.
      The
      effective term of this contract shall be compulsory for THE PROMISSOR and
      voluntary for THE EXPLORATION COMPANY, which in consequence, may terminate
      it at
      any time by giving THE PROMISSOR written notification thirty days prior to
      the
      termination date.

    

    Nevertheless,
      THE PROMISSOR shall also have the right to terminate this contract at any time
      when THE EXPLORATION COMPANY should fail to comply with any of the obligations
      agreed hereby.

    

    THIRD.
      Sale
      Promise. THE
      PROMISSOR unilaterally agrees to sell to THE EXPLORATION COMPANY, if the latter
      is willing to acquire them during the effective term of this contract, the
      rights derived from the existing mining concessions or once new concessions
      are
      issued over THE LOTS, at the lump sum amount of $2,000,000.00 dollars, United
      States of America currency (TWO MILLION DOLLARS 00/100 U. S. Cy.) plus Added
      Value Tax, payable in cash at the time of sale, under the terms and conditions
      provided hereby; nevertheless, THE EXPLORATION COMPANY may pay such amount
      by
      capitalization of royalties paid as described in the following Fifth
      Clause.

    

    Based
      on
      the unilateral nature of this sale, this promise shall be compulsory for THE
      PROMISSOR and voluntary for THE EXPLORATION COMPANY. The latter mentioned shall
      have the right to decide whether it acquires the mentioned rights during the
      effective term of this contract or not.

    

    To
      exercise the call option rights derived from the existing mining concessions
      over THE LOTS, it shall suffice for THE EXPLORATION COMPANY to truthfully notify
      its decision to THE PROMISSOR. THE PROMISSOR, at the same time, agrees to
      immediately assign the rights derived from those mining concessions to THE
      EXPLORATION COMPANY, provided each and all obligations derived from this
      contract have been duly complied with.

    

    FOURTH.
      Consideration
      to enter into this contract. The
      consideration to enter into this contract, THE EXPLORATION COMPANY shall pay
      to
      THE PROMISSOR the following amounts in dollars of the Unites States of America
      or its equivalent in Mexican currency at the payment date:

    

    a)
      At the
      signature date of this contract  $
      150,000
      U. S. Dlls.

    

    b)
      Two
      months from the signature date  $
      200,000 U. S. Dlls.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

                                              Total $
      350,000
      U. S. Dlls.

    To
      all
      the above mentioned amounts 15% corresponding to Added Value Tax shall be added
      at the time payments are made.

    

    If
      THE
      EXPLORATION COMPANY should terminate this contract at any time, all the amounts
      paid to THE PROMISSOR as consideration pursuant to this Clause shall remain
      in
      benefit of THE PROMISSOR as earnest money, and THE PROMISSOR shall not be bound
      to return any of said moneys to THE EXPLORATION COMPANY, nor THE EXPLORATION
      COMPANY shall have any right to ask for reimbursement. THE PROMISSOR
      acknowledges having received from THE EXPLORATION COMPANY, on January 13 of
      this
      year, the amount of $ 50,000 (FIFTY THOUSAND U. S. DOLLARS )
      plus
      15% Added Value Tax, amount to be applied to that payment provided herein to
      be
      made by THE EXPLORATION COMPANY at the signature date of this
      contract.

    

    FIFTH.
      Royalties. THE
      EXPLORATION COMPANY agrees to pay to THE PROMISSOR a royalty consisting of $ 20
      U. S. dollars per ounce of gold produced and sold from THE LOTS, plus $ 0.10
      U.
      S. dollars for each dollar above $ 400.00 U. S. dollars per ounce of gold over
      the price of the ounce of gold on the date the estimation of the royalties
      is
      made.

    

    THE
      EXPLORATION COMPANY shall pay the royalties before the 20th
      day of
      each month, corresponding to the month before the production and sale of mineral
      ore would have taken place. THE EXPLORATION COMPANY shall designate a competent
      auditor, also acceptable to THE PROMISSOR to verify the estimation of those
      amounts to be paid for royalties.

    

    In
      the
      event THE EXPLORATION COMPANY should buy the rights over THE LOTS from THE
      PROMISSOR, THE EXPLORATION COMPANY may, totally or partially buy said rights
      at
      the purchase price agreed, as applicable, capitalizing the royalties paid before
      the date of the sale contract. Once THE PROMISSOR has received accrued payments
      for royalties for an amount equal to $2,000,000 (TWO MILLION DOLLARS), THE
      PROMISSOR agrees to assign the mining rights agreed hereby to THE EXPLORATION
      COMPANY.

    

    Likewise,
      THE EXPLORATION COMPANY agrees that if assigning, totally or partially, to
      any
      third party the exploration rights over THE LOTS, it shall cause that third
      party to agree to pay THE PROMISSOR those royalties and advance amounts of
      money
      referred to in this Clause under the terms and conditions provided hereby,
      as
      well as to cause such third party to agree at the same time, if subsequently
      assigning the concessions to any other third party, to cause said party to
      agree
      on that same commitment. In the event any of the parties assigning the rights
      fail to comply with said obligation, the non-complying party shall pay to THE
      PROMISSOR any corresponding royalties or amounts due.

    

    SIXTH.
      Time
      to start production and sale of mineral ore.
      THE
      EXPLORATION COMPANY agrees to make its best efforts as a good miner to start
      the
      production over THE LOTS and to sell the mineral ore within one (1) year after
      the signature date of this contract.

    

    Nevertheless,
      if two years after having entered into this contract, THE EXPLORATION COMPANY
      has not started the production on THE LOTS, THE EXPLORATION COMPANY agrees
      to
      pay to THE PROMISSOR every year on the anniversary of the signature date of
      this
      contract, the amount of $ 120,000.00 U. S. dollars as advance payment to
      royalties, until production over THE LOTS is started and royalties exceed that
      amount.

    

    If
      once
      production has started and suspended for any reason, THE EXPLORATION COMPANY
      shall also pay to THE PROMISSOR every year the above mentioned amount until
      production starts once more.

    

    SEVENTH.
      Fees,
      rights, taxes and expenses. Any
      fee,
      expense, right and tax caused by the awarding and execution, either in regards
      to this contract as to the corresponding sale contract, shall be paid by THE
      EXPLORATION COMPANY, except for those taxes caused by any income obtained by
      THE
      PROMISSOR, taxes that shall be paid by THE PROMISSOR.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
EIGHTH.
      Labor
      liability. As
      there
      is no employer-employee relationship between the employees and workers hired
      by
      each of the parties and the other parties, the parties expressly agree that
      each
      of them, in relation to their personnel or their contractors, they or the others
      shall be the sole labor liable according to the labor law in effect, and,
      therefore, agree with the other parties to hold them harmless from any claim,
      complaint, suit, or charge that might occur against them by employees or workers
      of the other parties, or by their contractors or labor or administrative
      authorities.

    

    NINTH.
      Additional
      obligations of THE PROMISSOR.
      In
      addition to the obligations agreed by THE PROMISSOR on the above Clauses, during
      the effective time of this Contract the following shall apply:

    

    
      	a)  	
              Keep
                in effect any and all rights derived from the existing mining concessions
                or those concessions that might be issued over THE LOTS, and also,
                keep
                them harmless from any encumbrance or limitation of ownership, duly
                complying with all the obligations provided by the Mining Law, its
                Ordeal
                and any other applicable provision as holder of the existing mining
                concessions over THE LOTS;

            

    

    

    
      	b)  	
              Allow
                THE EXPLORATION COMPANY to carry out all kinds of exploration, assessment,
                metallurgic tests, development, working and production set
                up, as necessary, as well as to provide all kinds of information
                available
                over THE LOTS; and,

            

    

    

    
      	c)  	
              Hold
                THE EXPLORATION COMPANY harmless from any claim that might come up
                against
                it by acts directly imputable to THE PROMISSOR or the PROMISSOR’s
                exclusive responsibility. Likewise, hold THE EXPLORATION COMPANY
                free from
                paying any royalty over the sale of mineral ore removed from THE
                LOTS to
                which any third party might have any right into, aside from any other
                agreed herein.

            

    

    

    TENTH.
      Additional
      obligations of THE EXPLORATION COMPANY.
      In
      addition to the obligations agreed by THE CONTRACTING PARTY on the above
      Clauses, during the effective time of this Contract the following shall
      apply:

    

    
      	a)  	
              Carry
                out the exploration, development, and working of THE LOTS as best
                as
                possible, in accordance with the most rational and adequate mining
                practices and strictly in adherence to the applicable legal provisions,
                performing sufficient mining work to comply with the provisions of
                the
                Law, and in compliance with all existing provisions to prevent
                environmental pollution applicable to said
                operation;

            

    

    

    
      	b)  	
              Assist
                THE PROMISSOR to duly comply with the obligations to prepare and
                file the
                verification reports of regular exploration and mining work and payment
                of
                any right for mining concessions, also in agreement to pay said rights
                or
                reimburse THE PROMISSOR any right THE PROMISSOR might pay during
                the
                effective term of this Contract;

            

    

    

    
      	c)  	
              Keep
                THE LOTS under good exploration and working conditions, with the
                responsibility to comply with the provisions of the environmental
                and
                safety controls when working the
                mines;

            

    

    

    
      	d)  	
              Duly
                pay THE PROMISSOR any consideration provided herein;
                and,

            

    

    

    
      	e)  	
              Allow
                THE PROMISSOR, through its representatives, to inspect THE LOTS at
                any
                time, and any work performed or being performed on them, without
                interfering in the performance of any of the exploration
                work.

            

    

    

    If,
      at
      any time, during the term of this Contract, THE EXPLORATION COMPANY should
      fail
      to comply with any of the obligations agreed hereby, and particularly with
      those
      obligations mentioned in this Clause, THE PROMISSOR shall have the right to
      terminate this Contract under the following Eleventh Clause, regardless any
      right to demand payment for damages.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
ELEVENTH.
      Non-compliance.
      Non-compliance
      by any of the parties with the obligations agreed herein, shall entitle the
      other party to ask for immediate compliance of those obligations, requesting
      in
      writing to the non-compliance party to comply with those outstanding
      obligations, and after thirty calendars days from the date such request has
      been
      made, said non-compliance persists, the affected party may judicially request
      compliance with said obligations, or, terminate this Contract, and both parties
      may also ask for payment of damages.

    

    TWELFTH.
      Acts
      of God or Force Majeure.
      The
      parties shall not be considered in non-compliance when by any Act of God or
      force majeure
      any
      of
      them is unable to comply with the obligations agreed herein.

    

    The
      following causes shall be considered as force majeure, in an enunciatively
      but
      not limited manner: earthquakes, fires, floods, landslides, collapse,
      demonstrations, wars, strikes, revolutions, acts of authority, mobs, revolts,
      and, in general, any other act totally out of control from the parties that
      might prevent them to comply with any of their obligations, totally or
      partially.

    

    When
      any
      of the parties becomes affected by any force majeure, and thus unable to comply
      with its obligations, a written notification should be sent to the other party,
      reporting the estimated time of such incapability to comply with
      them.

    

    When
      six
      months have elapsed from the date a force majeure has occurred and it still
      persists, the other party shall have the right to terminate this
      Contract.

    

    THIRTEENTH.
      Total
      agreement between the parties. This
      Contract reflects the total agreement between the parties in regards to its
      object; therefore, this Contract cancels and leaves without effect any other
      contract, agreement or covenant entered between them before, in regards to
      the
      same object.

    

    The
      contract herein shall be compulsory in all its terms and conditions for the
      heirs, assignees and successors of the parties.

    

    The
      parties agree to ratify this Contract before Notary Public and record it at
      the
      Mining Public Records Office pursuant to the provisions of the Mining Law and
      its Ordeal.

    

    FOURTEENTH.
      Notices.
      Each and
      every notice and notification shall be delivered between the parties in
      accordance with this contract. These notices shall be made either orally or
      in
      writing, in the understanding that whenever a truthful statement should be
      made
      of said notice, this shall be delivered before a Notary Public.

    

    For
      effects of this Contract, the parties designate the following
      addresses:

     

    
      	
              THE PROMISSOR

               

            	
              THE EXPLORATION COMPANY

               

            
	
              CORPORATIVO MINERO, S.A. DE C.V.

              Albastros No. 1619

              Col. Arboledas

              Chihuahua, Chih. 31166

              RFC: CMI010126 SKA

               

              Tel.: 417 93 72

              Fax: 421 25 09

            	
              MINERA RIO TINTO, S.A. DE C.V.

              Pascual Orozco 2117

              Col. Cima

              Chihuahua, Chih. 31237

              RFC: NMI020829 QP1

               

              Tel.:
                414 7191

              Fax: 414 72 51

            

    

         

    Any
      change in the above mentioned addresses shall be notified by one of the parties
      to the other.

    

    FIFTEENTH.
      Applicable
      laws and jurisdiction. For
      all
      expressly provided in this Contract, the parties submit themselves to the
      applicable laws in Chihuahua, Chihuahua, particularly those provisions provided
      in the Mining Law, its Ordeal, the Federal Law, the Code of Commerce and the
      Civil Code for the Federal District, and agree to submit themselves in the
      

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    event
      of
      any controversy to the jurisdiction of the competent courts in the city of
      Chihuahua, Chihuahua, waiving any other jurisdiction or court that might
      correspond due to their present or future address.

    

    This
      contract is signed in four copies in the city of Chihuahua, Chihuahua, on May
      6,
      2004.

    

    THE
      PROMISSOR    THE
      EXPLORATION COMPANY

    

    CORPORATIVO
      MINERO, S.A. DE C.V.       MINERA
      RIO TINTO, S.A. DE C.V.

    

    

    “signature”      “signature”

      Jose
      Conrado Terrazas
      Cano      Mario
      Ayub

    

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

     

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    =======================
      NOTARIAL AFFIRMATION ========================

    In
      the
      City of Chihuahua, Capital of the State of Chihuahua, on the sixth day of the
      month of May year two thousand four, before me, Attorney JOSE R. MILLER
      HERMOSILLO, Notary Public Number Two, in present duty for this Judicial District
      of Morelos, personally appeared MARIO HUMBERTO AYUB TOUCHE, as Sole
      Administrator of the corporation called “MINERA RIO TINTO”, SOCIEDAD ANONIMA DE
      CAPITAL VARIABLE (Variable Capital Corporation), and JOSE CONRADO TERRAZAS
      CANO,
      as Sole Administrator and legal proxy for the corporation called “CORPORATIVO
      MINERO, SOCIEDAD ANONIMA DE CAPITAL VARIABLE, individuals whom I acknowledge
      to
      know, capable to my judgment to contract and bind themselves, and who
      acknowledged and ratified the previous document, as well as the signatures
      inserted as being theirs, with their own hand and writing and to be the
      signatures used in all their business transactions.
      ----------------------------------------------------------------------------

    ================================A
      U T H O R I T Y =========================

    A)
      MARIO
      HUMBERTO AYUB TOUCHE proves the authority he appears with and the legal
      existence of his principal by public deed number 330 three hundred thirty,
      volume 16 sixteen dated the first day of July nineteen hundred ninety four,
      issued before the faith of Attorney VICTOR EMILIO ANCHONDO PAREDES, Notary
      Public Number Twenty Nine, in present duty for this Judicial District of
      Morelos, by which “MINERA RIO TINTO”, SOCIEDAD ANONIMA DE CAPITAL VARIABLE was
      incorporated and whose social purposes is: a). Buy, by request or by any other
      legal title, mines, placers, and deposits containing mineral ore. B). Sell
      by
      any title, as well as work mines, pacers, and deposits containing mineral ore.
      C). Enter into any kind of contracts related to mining funds. D). Constitute,
      install, lease, or acquire by any title, plants or land for mining benefit
      by
      any system. E). Buy and sell, by any title, mining properties and metallurgic
      plants. F). Buy and sell, by any legal title the use and benefit of falls of
      water and exterior or underground currents, with the purpose of generating
      electric power to operate the plants or land of metal work. G). Buy, build
      or
      acquire and work railroads or any other exploration and mining work system
      and
      metallurgic plants, as well as any other communications means necessary for
      such
      business purpose. h). Produce, manufacture, industrialize, buy, and sell, store,
      distribute, produce in series, import, either temporarily or permanently any
      article related to the business purpose. i). Manufacture, make, buy, sell
      distribute, lease, store, import, either temporarily or permanently, and trade
      in general, all kinds of machinery, tools, raw material and equipment related
      to
      the business purpose. j). Provide technical and scientific counseling to
      individuals or companies in the interior or abroad, regarding the installations,
      design, and financing of machinery and industrial plants related to the mining
      industry. k). Buy and sell, in any legal manner, all kinds of shares or
      interests in other companies or associations, either civil or mercantile. l).
      Become representatives within the Mexican Republic or abroad, as commissioner,
      agent, intermediary or factor, legal representative or proxy, before all kinds
      of individuals or corporations. m). Enter into contracts of any kind or amount
      with any individual or corporation with the purpose of promoting its business
      purposes. n) Negotiate loans for any of the business purposes, without
      limitation as to amounts, as well as to draw, issue, subscribe, award, accept
      and endorse all kinds of credit instruments and any other documents and
      vouchers, whether executive or not. ñ). Assume obligations on account of third
      parties and guarantee those obligations either personally or as collateral,
      as
      well as endorse all kinds of credit instruments in any subject related to any
      interest of the corporation or their affiliates or subsidiaries. o). In general,
      enter into any kind of act and legal contracts, civil, administrative or
      mercantile pursuant to the Law. The address of the corporation shall be in
      this
      City of Chihuahua, and my establish offices, agencies or branches at any place
      in the Mexican Republic or abroad. The duration of the corporation shall be
      99
      ninety nine years. The nationality of the corporation is Mexican; its minimum
      fixed social capital is $50,000.00 (FIFTY THOUSAND PESOS 00/100 MEXICAN
      CURRENCY). The Sole Administrator or the Board of Directors shall have the
      most
      ample representation of the corporation with the following authorities: For
      Acts
      of Administration, Ownership, Suits and Collections, Subscription of Credit
      Instruments, and awarding and revoking powers. The First Certified Copy
      previously mentioned has been recorded before the Public Real Estate Records
      Office for this Judicial District of Morelos, under number 461 four hundred
      sixty one, page 18 eighteen of Book number 666 six hundred sixty six of the
      Commerce Section on the fourteenth day of September nineteen ninety four;
      documents that I had before me which faithfully agree with all herein inserted
      and duly sealed and signed are returned to the interested party.-
      ----------

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    The
      here
      appearing states under oath that his authority has not been modified nor revoked
      in any manner and that his principal has legal authority to contract and bind
      itself. ----------------------

    B).
      JOSE
      CONRADO TERRAZAS CANO states under oath that the authority he appears with
      has
      not been revoked nor modified in any manner and evidences his authority, as
      well
      as the legal existence of his principal, with FIRST CERTIFIED COPY of public
      deed number 3,127 three thousand one hundred twenty seven issued on the
      twenty-sixth day of the month of January two thousand one, by which the Variable
      Capital Company called CORPORATIVO MINERO was incorporated, deed that contains
      in the Third Transitory number 3 three and 6 six, his designation as Sole
      Administrator of the Corporation and Legal Proxy, instrument duly recorded
      in
      the Real Estate Public Records Office of this Judicial District of Morelos
      , in
      regards to the corporation, under number 60 sixty, folio 101 one hundred one
      of
      the First Book of Commerce, and in regards to the Power of Attorney, under
      number 61 sixty one, folio 104 one hundred four, volume 130 one hundred thirty,
      of the first book of Commerce, same that in certified copy is attached to become
      and integrating part of this instrument.
      ---------------------------

    BY
      THEIR
      PERSONAL IDATA THE HERE APPEARING STATES TO BE MEXICAN AND BORN FROM MEXICAN
      PARENTS.------------------------------------------------------------------------------

    JOSE
      CONRADO TERRAZAS CANO, native of Chihuahua and living in the same city,
      addressed at Alabatros number one thousand six hundred nineteen, Fraccionamiento
      Arboledas, Public Accountant, born on the twenty-seventh day of the month of
      March nineteen sixty six, married, taxpayer and up to date in payment of income
      tax without proving it at this moment.
      -------------------------------------------------------------------------------------------------------------------

    MARIO
      HUMBERTO AYUB TOUCHE, native of this City, born on the twelfth day of the month
      of September nineteen fifty three, married, businessman, taxpayer, and up to
      date in payment of income tax, without proving it at this time, and addressed
      at
      Mision de San Antonio number 2036 two thousand thirty six in this City.
      --------------------------------------------------------------------------

    The
      parties were duly warned about the penalties incurred by taxpayers making false
      statements in relation to any fiscal matter.
      -----------------------------------------------------------------------

    ONCE
      THE
      ABOVE WAS READ TO THE HERE APPEARING, AND EXPLAINED ITS LEGAL FORCE AND VALUE,
      THEY ACKNOWLEDGED THIS INSTRUMENT, RATIFIED IT AND SIGNED IT AS STATEMENT
      TOGETHER WITH THE UNDERSIGNED NOTARY WHO ATTESTS.-
      ---------------------------------------------------------------------------------------------------------------

    

    

    “signature”              “signature”

    JOSE
      CONRADO TERRAZAS CANO           MARIO
      AYUB TOUCHE

    

    THE
      NOTARY PUBLIC NUMBER TWO

    

    “signature”

    JOSE
      R.
      MILLER HERMOSILLO

    Recorded
      under number 27243

    On
      folio
      152 of Book 30

    In
      Record
      of Acts out of

    Protocol,
      on May 6, 2004.

    

      Jose
        R.
        Miller Hermosillo

      Notary
        Public Number Two

      District
        of Morelos

      Chihuahua,
        Chih.Mexoro Exhibit 10.25

    Return
      to Main Document

     

    Exhibit
      10.25

     

    CERTIFIED
      ACKNOWLEDGED RECEIPT REQUESTED

    

    GENERAL
      MINING COORDINATION

    MINING
      DIRECTION GENERAL

    DIRECTION
      OF THE MINING PUBLIC RECORDS

    AND
      CONCESSIONS

    SUB
      DIRECTION OF MINING PUBLIC RECORDS

    3111

    610.9

    DOCKET: 322/2006

    DEPARTMENT
      OF ECONOMY

    SUBJECT:
      DOCUMENT FILED RETURNED (50900)

    

    MEXICO,
      D. F., 25
      JUL 2006

    

    CERTIFIED
      ACKNOWLEDGED RECEIPT REQUESTED

    

    

    SUNBURST
      MINING DE MEXICO, S.A. DE C.V.

    C/O
      LIDIA
      IMELDA MORAILA ALVARADO

    AV.
      DEL
      MAR NO. 1022-5 ZONA COSTERA

    Z.
      C.
      082149 MAZATLAN, SIN.

    

    

     

    Attached
      herewith you will find original document described below, duly recorded at
      this
      office.

    

    

    Certified
      copy dated December 28, 2005 related to the Assignment of Rights Agreement
      entered into on August 18 of the same year, by which MINERA RIO TINTO, S.A.
      DE
      C. V., assigns in favor of your principal the rights derived from the mining
      concessions: “SAN ANTONIO”, Title 204385, “AMPL. SAN ANTONIO” title 196127 and
“SAN ANTONIO”, title 222869, located at the municipality of Guazapares,
      Chih.

    

    

    

    

    

    SINCERELY

    EFFECTIVE
      SUFFRAGE, NO REELECTION

    DEPUTY
      DIRECTOR OF THE MINING PUBLIC RECORDS

    

    

    

    Signature

    MA.
      OLGA
      GALLARDO MONTOYA

    

    Attachment:
      One

    

    Cc:
      Carlos .- Director of the Mining Public Records and Concessions.- For his
      consideration.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    CALL
      OPTION MINING WORK CONTRACT ENTERED INTO BY MARIO HUMBERTO AYUB TOUCHE AS SOLE
      ADMINISTRATOR OF THE CORPORATION “MINERA RIO TINTO, S.A. DE C.V.” HEREINAFTER
      REFERRED TO AS “MRT” AND RAFAEL FERNANDO ASTORGA HERNANDEZ, HEREINAFTER REFERRED
      TO AS “THE LICENSEE” SUBJECT TO THE FOLLOWING STATEMENTS AND
      CLAUSES.

    

    S
      T A T E
      M E N T S

    

    “MRT”

    
      	1.  	
              Mario
                Ayub Touche states to be the Sole Administrator of the corporation
                called
                “Minera Rio Tinto, S.A. de C.V.”, incorporated by public deed number 330,
                volume 16 dated July first nineteen ninety four, issued before Attorney
                Victor Emilio Anchondo Paredes, Notary Public Number Twenty Nine
                for this
                Judicial District of Morelos, recorded under number 461, folio 18
                Book 666
                of the Commerce Section of the Real Estate Public Records Office
                of the
                District of Morelos, on September 14 nineteen ninety four. He further
                states that his principal’s business purposes include acquiring by request
                or by any other legal title, mines, placers, mantles or deposits
                containing mineral ore; selling and working by any title mines, placers,
                mantles or deposits containing mineral ore; entering into any kind
                of
                contracts or agreements related to mining funds, among others; therefore,
                he has the authority to enter into this instrument, stating that
                said
                authority has not been revoked nor modified in any manner
                whatsoever.

            

    

    

    
      	2.  	
              That
                by letter of intent dated November 18, 2003, he offered the “LICENSEE” to
                enter into this instrument for his principal to have the right to
                work
                with call option the mining funds of his property located at Guazapares,
                Chihuahua.

            

    

    

    “THE
      LICENSEE”

    
      	3.  	
              States
                his federal taxpayer’s number to be AOHR-400812-BY9 and addressed at
                Uruguay Number 706 in this city of Chihuahua and to be the holder
                of the
                mining concessions described below:

            

    

     

    
      	 a) 	 NAME
              OF THE CONCESSION	 “SAN ANTONIO”
	 	 	 
	 	 FILE NO.	 99/2170
	 	 	 
	 	 TITLE No. 	 196863
	 	 	 
	 b)	 NAME OF THE CONCESSION 	 “SAN ANTONIO”
	 	 	 
	 	 FILE NO.	 1/2.4/557
	 	 	 
	 	 TITLE No. 	 204385
	 	 	 
	 c)	 NAME OF THE
              CONCESSION  	 “AMPLIACIÓN SAN ANTONIO”
	 	 	 
	 	 FILE NO.	 99/2177
	 	 	 
	 	 TITLE No. 	 196127

    

                  

    
      	4.  	
              Further
                states that his rights in regards to the titles allow him to enter
                into
                this instrument as only that concession described above in Section
                A) has
                a limitation as it is encumbered by the State Trust to Promote Productive
                Activities in the State of Chihuahua, and he has entered into with
                said
                Trust an agreement dated January 21 of this same year, to determine
                that
                said agency shall not carry out any action to limit the rights awarded
                to
                “MRT” by means of this instrument. 

            

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    THE
      PARTIES

    
      	5.  	
              Inasmuch
                as 60 natural days have elapsed since the signature date of the Letter
                of
                Intent dated November 18 last year, and the promotion of the project
                has
                been performed, they have decided to enter into this contract, subject
                to
                the following:

            

    

    

    C
      L A U S
      E S

    

    FIRST:
      The parties agree to enter into a call option mining work contract in regards
      to
      the mining funds described in Statement 3 above, which to avoid repetitions
      are
      held as inserted herein.

    

    SECOND:
      Based on the execution of this instrument, “THE LICENSEE” agrees to allow “MRT”
free access to the mining lots covered by the mining concessions described
      in
      the third statement of this instrument to carry out mining work.

    

    THIRD:
      “MRT” hereby delivers to “THE LICENSEE” the amount of US $10,000.00 (Ten
      thousand U. S. dollars), as legalization of this Call Option Mining Work
      Contract, by check number 0004814, Account Number 00115494192 drawn against
      the
      Banking Institution called BBVA-BANCOMER, plus the amount corresponding to
      Added
      Value Tax in check number 223, Account 105085349 drawn against same Banking
      Institution.

    

    FOURTH:
      “MRT” agrees to pay to “THE LICENSEE” the following amounts:

    

    US
      $20,000.00 (Twenty thousand U.S. dollars) on the first anniversary of the
      Signature Date of this instrument.

    

    US
      $30,000.00 (Thirty thousand U.S. dollars) on the second anniversary of the
      Signature Date of this instrument.

    

    US
      $40,000.00 (Forty thousand U. S. dollars) on the third anniversary of the
      Signature Date of this instrument.

    

    US
      $50,000.00 (Fifty thousand U. S. dollars) on the fourth anniversary of the
      Signature Date of this instrument.

    

    US
      $500,000.00 (Five hundred thousand U.S. dollars) to exercise the option on
      the
      firth year/anniversary.

    

    Both
      parties agree that the invoice issued by THE LICENSEE to MRT shall be one
      including the Added Value Tax and all other requirements to comply with the
      applicable fiscal laws.

    

    As
      additional consideration for THE LICENSEE, MRT agrees to pay 2% (two per cent)
      for Royalties on sales net liquidations (RSLM for its acronym in Spanish) which
      shall be estimated and paid pursuant to the mechanism provided in EXHIBIT
      included herein.

    

    FIFTH:
      When “MRT” decides to early exercise the option, MRT shall not have to make the
      subsequent annual payments or any other outstanding payment included in the
      payment schedule referred to above, but shall make one sole payment for the
      amount of US $500,000.00 (Five hundred thousand U. S. dollars).

    

    SIXTH:
      “MRT” may freely designate a third company as beneficiary of the Call Option
      Mining Work Contract; that is, those rights and obligations provided in this
      instrument for “MRT” shall be transferable.

    

    SEVENTH:
      “MRT” or any other company designated, as of this date, agree to maintain the
      concessions in effect and agree to pay the semi-annual rights, performing the
      work verification and complying with any requirement the Mining Department
      or
      fiscal authority, or any other authority might ask for.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    EIGHTH:
      “THE LICENSEE” agrees to provide “MRT” those work verifications, either work or
      exploration, that he might have, and those effective certificates of THE LOTS.
      “MRT” as of the signature date and ratification of this contract, shall carry
      out the necessary work to maintain THE LOTS in effect, by delivering THE
      LICENSEE any expense voucher to make the future work verifications in the event
      they are required by the Mining Law. Likewise, the concessions should be kept
      free of encumbrance during the effect of the Call Option Mining Work Contract
      -
      except for the tax in favor of the State Trust to Promote Productive Activities
      in the State of Chihuahua, mentioned in Statement number 4 of this instrument.
      Furthermore, “THE LICENSEE” agrees to pay any outstanding right in regards to
      the mining funds awarded for exploration as of the signature date of this
      contract. As of the Signature Date of this instrument, the provisions stipulated
      in the previous clause shall apply.

    

    NINTH:
      “MRT” agrees with “THE LICENSEE” to deliver any report or information obtained
      during said work, geologic data, laboratory analysis, technical-mining reports,
      etc., in the event the first one mentioned would not exercise the option. This
      shall also apply when “MRT” assigns the right awarded herein to a third party
      company.

    

    TENTH:
      “MRT” or any other corporation designated by MRT, as of the signature date of
      this instrument agrees to obtain any necessary permit, comply with and fulfill
      any applicable legal and administrative environmental provision, to be covered
      by MRT. “MRT” may not allege “THE LICENSEE” any reduction to any payment or
      consideration.

    

    ELEVENTH:
      THE PARTIES agree that when “MRT” or the third party corporation designated by
      MRT as beneficiary of the contract would not exercise their option right in
      regards to the mining concessions subject matter of this contract, these
      concessions shall be returned immediately, free of any encumbrance, tax or
      contingency, except those encumbrances reported to the concessions at the
      signature date of this instrument. Likewise, they shall be returned up to date
      in the fulfillment of their mining and fiscal obligations, otherwise, “THE
      LICENSEE” shall require from MRT the corresponding payment.

    

    TWELFTH:
      “THE LICENSEE” shall be entitled to work THE LOTS in a limited manner, up to a
      maximum of 50 tons daily as long as the option is in effect, provided “MRT”
exercises said option. In the event “MRT” early exercises said option, “THE
      LICENSEE” shall be entitled to continue working THE LOTS during a maximum period
      of six months as of the date final payment stated in the Fifth Clause of this
      option is received.

    

    THIRTEENTH:
      FORCE
      MAJEURE.
      Compliance with the obligations derived from this contract may be temporarily
      suspended due to Acts of God or force majeure, for reasons totally aside from
      any of the parties, which may include strikes, wars, disturbances, failure
      to
      access THE LOTS for natural causes or government orders, among others. Said
      causes shall be reported to THE LICENSEE in writing.

    

    FOURTEENTH:
      In relation to any obligation, right and notification and compliance with the
      obligations derived from this contract, THE PARTIES designate the following
      as
      their addresses:

     

    
      	 THE LICENSEE	 Republica de Uruguay Number
              706
	 	 Colonia Panamericana
	 	 Chihuahua, Chihuahua 31200
	 	 
	 MRT	 Pascual Orozco Number 2117
	 	 Colonia La Cima
	 	 Chihuahua, Chihuahua
              31310

    

          

    FIFTEENTH:
      For construal and compliance of the contract herein, as well as any other action
      derived from it, the parties expressly submit themselves to the competence
      and
      jurisdiction of the local Courts of the City of Chihuahua, with no consideration
      to any other that might correspond for reason of present or future
      addresses.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    The
      parties herein sign this contract in the City of Chihuahua, Chihuahua, on the
      fifteenth day of the month of January year two thousand four.

    

    

    Signature 

    MINERA
      RIO TINTO, S.A. DE C.V.

    MARIO
      HUMBERTO AYUB TOUCHE

    SOLE
      ADMINISTRATOR

    

     

    Signature 

    RAFAEL
      ASTORGA HERNANDEZ

    

    WITNESSES

    

    
      	     Signature	     signature
	 Manuel Flores Carrillo	 Mariza Alarcón Barragán
	 Misión de Chínipas #6121	 Miguel Schults
              #3516

    

         

    PERSONAL
      DATA

    

    MARIO
      HUMBERTO AYUB TOUCHE by his personal data states to be Mexican, native of this
      City of Chihuahua, Chihuahua, where he was born on the twelfth day of September
      nineteen fifty three, married, businessman, addressed at Mision de San Antonio
      Number two thousand thirty six in this city.

    

    RAFAEL
      FERNANDO ASTORGA HERNANDEZ, who by his personal data states to be Mexican,
      native of Guazapares, Chihuahua, where he was born on the twelfth day of August
      nineteen forty, married, miner, addressed at Republica de Uruguay Number seven
      hundred six in this city.

    

    Two
      signatures

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