Document:

ALL AMERICAN GOLD CORP. - Exhibit 10.1 - Filed by newsfilecorp.com

MINERAL PROPERTY ACQUISITION AGREEMENT

THIS AGREEMENT is made the first day of November 1,
2012

BETWEEN:

James Hason
# 42 - 3800 40th
Ave 
Vernon, B.C., V1T 6S3

(the "Vendor")

AND:

All American Gold Corp.
2368
Second Avenue, 1st Floor
San Diego, CA 92101
CEO: Gaspar Gonzalez

(the “Purchaser")

WHEREAS:

	A. 	
      The Vendor is the beneficial owner of the mineral
      interests described and illustrated in Schedule "A" attached hereto (the
      "Property"), located in the Vernon Mining Division of British
    Columbia;

	 	 
	B. 	
      The Vendor has agreed to sell to the Purchaser and the
      Purchaser has agreed to purchase the Property in accordance with the terms
      and conditions hereinafter set forth

NOW THEREFORE THIS AGREEMENT WITNESSES that in
consideration of the sum of USD$6000 now paid by the Purchaser to the Vendor
(the receipt of which is hereby acknowledged), THE PARTIES HERETO AGREE AS
FOLLOWS:

	1. 	
      Representations And Warranties Of The
  Vendor

	 	 
	1.1. 	
      The Vendor hereby represents and warrants to the
      Purchaser as follows:

1.     
the Vendor is, and at the time of transfer to the Purchaser will be, the
beneficial owner of a 100% undivided interest in and to the Property free and
clear of all liens, charges and claims of others, and no taxes or rentals are or
will be due in respect of any thereof;

1

2.      to
the best of the Vendor's knowledge, information and belief, the Property, as
described in Schedule "A", is owned by the Vendor free and clear of all liens,
charges and encumbrances;

3.     
there is no adverse claim or challenge to the ownership of or title to the
Property nor, to the knowledge of the Vendor, is there any basis therefor, and
there are no outstanding agreements or options to acquire or purchase his
interest in the Property or any portion thereof, and no person, other than the
Vendor pursuant to the provisions hereof, has any royalty or other interest
whatsoever in production from the Property;

4.     
James Hason is the sole recorded and beneficial owner of the Property;

5.     
the mineral claims comprising the Property have been properly staked and
recorded and are in good standing in the mining division in which they were
recorded; and

6.     
niether the Vendor nor, to the best of his knowledge, any predecessor in
interest or title of the Vendor to the Property has done anything whereby the
Property may be encumbered.

7.     
notwithstanding anything herein to the contrary, the Property is being
transferred on an “As Is” basis, and in no event shall the Vendor, be
responsible or liable to the Purchaser for any reduction, exception,
reservation, or modification of whatsoever nature to the Property;

	1.2. 	
      The representations and warranties contained in
      subsection 1.1 are provided for the exclusive benefit of the Purchaser,
      and a breach of any one or more thereof may be waived by the Purchaser, in
      whole or in part, at any time without prejudice to its rights in respect
      of any other breach of the same or any other representation or warranty;
      and the representations and warranties contained in that subsection shall
      survive the execution hereof.

	 	 
	2. 	
      Acquisition Of The Property

	 	 
	2.1. 	
      The Vendor, subject to the terms hereof, hereby agrees to
      option to sell to the Purchaser and to transfer to the Purchaser, a 100%
      undivided interest in and to the Property free from all liens, mortgages,
      charges, pledges, encumbrances or other burdens with all rights now or
      thereafter attached thereto. If the Purchaser should notify the Vendor in
      writing of any claims or burdens against the Property then, after
      ascertaining the validity thereof, the Vendor shall, within a reasonable
      period of time after notification thereof by the Purchaser, attend
    to the discharge of such claims at the Vendor’s own expense,
      or will indemnify the Purchaser against the same and will provide such
      security as may reasonably be requested by the Purchaser to secure such
  indemnity.

2

	2.2. 	
      The Vendor agrees to grant the option to sell the
      Property until March 31, 2013. The Purchaser may extend the option until
      October 30, 2013 by paying an additional sum of USD $2000 on or before
      March 31, 2013. The Purchaser commits to keeping the claims in good
      standing with the Vernon Mining Division.

	 	 
		
      2.1.     By paying the Vendor an additional $200,000 on or
      before October 30, 2013, the Purchaser agrees to extend the option to
      purchase 100% of the Vendors interest in the Property upon the following
      terms:

	 	 
		
      (a)      Cash Payments and Share
      Consideration: The Purchaser shall pay to the Vendor the sum of $250,000
      or issue to the to the Vendor an equivalent market value in common shares
      of the Purchaser on or before June 1, 2016.

	 	 
		
      (b)      Work Commitments: The
      Purchaser shall incur a minimum of $800,000 in Expenditures on the
      Property by June 1, 2016 or until the Purchaser exercises the right to
      acquire the Property as outlined in clause 2.2. All such work shall be
      filed on the Property. The Purchaser shall spend $100,000 by December 31,
      2013, $200,000 by June 1, 2014, and $500,000 by June 1, 2016.

	 	 
	2.4 	
      Upon the completion by the Purchaser of the cash
      payments, share issuances and work commitments set out in paragraph 2.2 of
      this Agreement, the Purchaser shall have earned 100% of the Vendor’s
      entire interest in the Property.

	 	 
	3. 	
      Registration And Transfer Of Property

	 	 
	3.1. 	
      Concurrently with the execution of this Agreement, the
      Vendor shall deliver to the Purchaser such transfer documents (hereinafter
      referred to as the "Property Transfer Documents") as the Purchaser or its
      counsel may reasonably deem necessary to assign, transfer and assure to
      the Purchaser, good, safe, holding and marketable title to 100% of the
      Property.

	 	 
	4. 	
      Royalty

	 	 
	4.1 	
      Upon the Commencement of Commercial Production, the
      Purchaser shall pay the Vendor a royalty (“Royalty”), being equal to 2% of
      net smelter returns on all mineral production. The Purchaser may purchase
      the Royalty at any time for $1,000,000.

	 	 
	5. 	
      Transfers

	 	 
	5.1. 	
      The Purchaser may at any time sell, transfer or otherwise
      dispose of all or any portion of its interest in and to the Property and
      this Agreement provided that any purchaser, grantee or transferee of any
      such interest shall have first delivered to the Vendor its agreement
      related to this Agreement and to the Property, containing a covenant by
      such transferee to perform the obligations of the Purchaser to be performed under this Agreement,
      including the payment of the Royalty, in proportion to the interest in the
      Property acquired by the transferee.

3

	6. 	
      Notice

	 	 
	6.1. 	
      Each notice, demand or other communication required or
      permitted to be given under this Agreement shall be in writing and shall
      be delivered or faxed to such party at the address for such party
      specified above. The date of receipt of such notice, demand or other
      communication shall be the date of delivery thereof if delivered or, if
      given by telecopier, shall be deemed conclusively to be the next business
      day. Either party may at any time and from time to time notify the other
      party in writing of a change of address and the new address to which
      notice shall be given to it thereafter until further change.

	 	 
	6.2. 	
      Either party may at any time and from time to time notify
      the other party in writing of a change of address and the new address to
      which notice shall be given to it thereafter until further
  change.

	 	 
	7. 	
      General

	 	 
	7.1. 	
      This Agreement shall supersede and replace any other
      agreement or arrangement, whether oral or written, heretofore existing
      between the parties in respect of the subject matter of this
    Agreement.

	 	 
	7.2. 	
      The parties have not created a partnership and nothing
      contained in this Agreement shall in any manner whatsoever constitute any
      party the partner, agent or legal representative of any other party, nor
      create any fiduciary relationship between them for any purpose whatsoever.
      No party shall have any authority to act for, or to assume any obligations
      or responsibility on behalf of, any other party except as may be, from
      time to time, agreed upon in writing between the parties or as otherwise
      expressly provided.

	 	 
	7.3. 	
      No consent or waiver expressed or implied by either party
      in respect of any breach or default by the other in the performance by
      such other of its obligations hereunder shall be deemed or construed to be
      a consent to or a waiver of any other breach or default.

	 	 
	7.4. 	
      The parties shall promptly execute or cause to be
      executed all documents, deeds, conveyances and other instruments of
      further assurance which may be reasonably necessary or advisable to carry
      out fully the intent of this Agreement or to record wherever appropriate
      the respective interests from time to time of the parties in the
      Property.

	 	 
	7.5. 	
      This Agreement may be subject to the approval of the
      appropriate regulatory authorities and the parties agree to use such
      reasonable amendments as may be required by those authorities.

	 	 
	7.6. 	
      This Agreement shall be construed in accordance with the
      laws in force from time to time in the Province of British
  Columbia.

4

	7.7. 	
      This Agreement shall inure to the benefit of and be
      binding upon the parties and their respective successors and permitted
      assigns.

IN WITNESS WHEREOF the Vendor has hereunto set his hand,
and an authorized signatory of the Purchaser has hereunto signed this Agreement,
as of the day and year first above written.

	/s/ “James Hason” 	/s/ “Gaspar R. Gonzalez” (President) 
	 	 
	James Hason 	All American Gold Corp. 
	 	 
	Per: James Hason        	Per: Gaspar R. Gonzalez        
	  	           
           Authorized Signatory 

5

SCHEDULE "A"

THIS IS SCHEDULE "A" to the Mineral Property Acquisition
Agreement made as of the 1st day of November 2012.

"THE PROPERTY"

6Passport Potash Inc.: Exhibit 10.1 - Filed by newsfilecorp.com

AMENDMENT AGREEMENT

THIS AMENDMENT AGREEMENT is dated for reference October
30, 2012.

AMONG:

		
      NORTH AMERICAN POTASH DEVELOPMENTS INC. (formerly
      Ringbolt Ventures Ltd.) of 3467 Commercial Street, Vancouver,
      British Columbia V5N 4E8, E-mail: simonkm88@gmail.com (“RBV”),
      POTASH GREEN, LLC of 97 East Mount Peale Drive, Moab, Utah
      84532, WENDY WALKER TIBBETTS of 97 East Mount Peale Drive
      Moab, Utah 84532 E-mail: wendy_walker@hotmail.com (“WWT”), and JOSEPH
      J. HANSEN of 1116 Mariwood Circle North Salt Lake, Utah 84054
      E-mail: jxhansen@earthlink.net (“JJH”) 
	
	 	(collectively, the “Optionor”); 	 

AND

		
      PASSPORT POTASH INC., of 608 -1199 West Pender
      Street Vancouver, British Columbia V6E 2Rl E-mail: josh.bleak@gmail.com
      and/or jbleak@passportpotash.com (“PPI”) 
	
	 	(the “Optionee”). 	 

WHEREAS:

	A. 	
      On November 3, 2011, Ringbolt Ventures Ltd. changed its
      name to North American Potash Developments Inc.

	 	 	 
	B. 	
      The Optionor and the Optionee entered into an Option
      Agreement dated for reference March 28, 2011 (the “Original
      Agreement”) whereby the Optionee was granted an option to acquire an
      undivided 90% legal and beneficial interest in and to the Property (as
      more particularly described in Schedule “A” attached to the Original
      Agreement).

	 	 	 
	C. 	
      The Optionee has represented that it has satisfied the
      following Payment and Work requirements under the Original Agreement, and
      the Optionor has relied on such representation and warranty in this
      Amendment:

	 	 	 
		(a) 	
      Made the first three cash payments totalling $650,000 as
      set out in Section 1.2;

	 	 	 
		(b) 	
      Issued the common shares in the amount of 2,400,000
      shares as set out in Section 1.3; and

	 	 	 
		(c) 	
      Performed work on the Property in the amount of at least
      $1,250,000 as set out in Section 1.4.

	 	 	 
	D. 	
      On May 25, 2012, the Optionor initiated a civil action
      against the Optionee, styled North American Potash Developments Inc.,
      et al. v. Passport Potash Inc., Third Judicial District Court, Salt
      Lake County, State of Utah, Case No. 12090352 (the “Action”). The Optionor
      asserted causes of action against the Optionee for breach of contract
      related to the Original Agreement and unjust enrichment. The Optionee
      asserted counterclaims for breach of contract and breach of the implied
      covenant of good faith and fair dealing related to the Original Agreement.
      The parties to the Action denied liability and asserted defences regarding
      the claims against them. The Optionor’s and the Optionee’s claims in the
      Action are hereinafter collectively referred to as the “Claims.”

	 	 	 
	E. 	
      As part of a settlement of the disputes between the
      parties, the parties wish to now amend the Original Agreement in
      accordance with this Amendment Agreement, as set forth
  below.

NOW THEREFORE in consideration of the premises and
mutual covenants herein, and other good and valuable consideration (the receipt
and sufficiency of which is hereby acknowledged), the parties agree as
follows:

1. In furtherance of this Amendment Agreement, the Original
Agreement is amended as follows:

1

	 	a. 	
      The reference to “an undivided 90% legal and
      beneficial interest in and to the Property (the ‘Interest’)” in Article 1
      is amended to state: “an undivided 100% legal and beneficial
      interest in and to the Property (the ‘Interest’)”.

	 	 	 
	 	b. 	
      The reference to “the expenditures by the Optionee of set
      out in Section 1.4 ‘Expenditures to be incurred by Optionee’” in
      Article 1 is amended to state: “the expenditures by the Optionee set out
      in Section 1.4 ‘Expenditures by Optionee’ (collectively, the
      ‘Work’)”.

	 	 	 
	 	c. 	
      The reference to “All of the following payments divided
      and paid to each of the parties comprising the Optionor as to following
      percentages RBV – 70%, WWT – 20% and JJH – 10%:” in Article 1 is amended
      to state: “All of the following payments divided and paid to each of the
      parties comprising the Optionor as to following percentages RBV – 70%, WWT
      – 20%, and JJH – 10%:(1) 

      (1) All payments and share issuances, including but not
      limited to those made pursuant to Article 3, made to Potash Green, LLC
      upon or subsequent to the execution of the Amendment shall be deemed to be
      made in trust for RBV, WWT, and JJH based on their right to receive 70%,
      20%, and 10% interest of same, respectively. The payments and share
      issuance made to Potash Green, LLC upon or subsequent to the execution of
      the Amendment shall also be deemed to constitute good delivery in regard
      of any right to receive same by RBV, WWT, and JJH from the Optionee.
      Nothing in this footnote shall affect PPI’s obligation to deliver the
      Payment and Shares to Potash Green, LLC. Indeed, this footnote is provided
      simply to explain that RBV, WWT, and JJH are intended beneficiaries of the
      Payment and Shares.”.

	 	 	 
	 	d. 	
      Sections 1.2, 1.3, and 1.4, including footnote 1, are
      deleted in their entirety and replaced with the
  following:

	Date or Time Period 
	1.2 Option Cash 
Payments by
      Optionee 	1.3 Option Share 
Payment by
      Optionee 	1.4 Expenditures by 
the
      Optionee 
	Upon execution of this 
Agreement 

	US$50,000 
(RBV - US$35,000, 
WWT -
      US$10,000, 
JJH - US$5,000) 	

	

	Upon TSX Venture 
Exchange Approval of 
this
      Agreement 
("TSXV Approval") 	US$250,000 
(RBV - US$175,000, 
WWT -
      US$50,000, 
JJH - US$25,000) 	1,000,000 common shares 
(RBV - 700,000
      shares, 
WWT - 200,000 shares, 
JJH - 100,000 shares) 	

	Year 1: Within 1 year of 
TSX Venture Exchange
      
approval 	

	

	US$500,000 

	On or before the 1st 
Anniversary of TSXV
      
Approval 
	US$350,000 
(RBV - US$245,000, 
WWT -
      US$70,000, 
JJH - US$35,000) 	1,400,000 common shares 
(RBV - 980,000
      shares, 
WWT - 280,000 shares, 
JJH - 140,000 shares) 	

	Year 2: Within 1 year of 
1st Anniversary of
      
TSXV Approval 	

	

	US$750,000 

	Upon execution of the 
amendment to this
      
Agreement, which 
amendment is dated for 
reference October 30,
      
2012 (the 
“Amendment”) 	US$150,000 
to Potash Green, LLC
      

	

	

	To be escrowed within 
3 business days of
      the 	US$2,450,000 
to Potash Green, LLC 	750,000 common shares(2) 
to
      Potash Green, LLC 	

2

	Optionee’s receipt of 
written notice, by either 
the
      TSX Venture 
Exchange or the 
Optionor, of TSX 
Venture
      Exchange’s 
approval of the 
Amendment (“TSX 2nd
      
Approval”) 	

	

	

	On or before October 
31, 2014 	US$1,250,000 
to Potash Green, LLC 	
	

	               
                         
             Totals 	US$4,500,000 	3,150,000 common shares 	US$1,250,000

(2) The common shares issued by the
Optionee shall be subject to the resale restrictions of the securities laws and
regulations of the United States and Canada. The Optionee represents that these
shares have not been registered under any US federal or state securities law,
and may not be transferred without an effective registration statement pursuant
to such laws. Optionee shall have these shares, along with shares previously
issued pursuant to this Section 1.3 registered as soon as permitted after its
next round of financing. In any case, pursuant to Rule 144, these shares may be
sold after June 29, 2013.

	 	e. 	
      Section 1.11, including Exhibit B, is deleted in its
      entirety.

	 	 	 
	 	f. 	
      Section 1.12 is deleted in its entirety.

	 	 	 
	 	g. 	Section 2.1 is deleted in its entirety and replaced with
      the following:
	 	 	 
	 		
      “Upon written notice from the TSX Venture Exchange that
      the Amendment Agreement has been approved, the parties shall
      simultaneously do the following: (i) Optionor shall assign all of its
      right, title, and interest in and to the Property and will take all
      necessary action with the Arizona State Land Department to effect such
      assignment, the cost of such actions to be paid by Optionee; and (ii)
      Optionee will place into escrow with Christopher M. Von Maack of Magleby
      & Greenwood, P.C. on behalf of Potash Green, LLC the $2,450,000 cash
      payment and the 750,000 common shares of Optionee issued in the name of
      Potash Green, LLC. The cash payment and shares will be released to Potash
      Green LLC upon receipt of confirmation of the assignment of the Property
      to PPI Holding Corp. from the Arizona State Land Department.”

	 	 	 
	 	h. 	
      Article 3 and Sections 3.1, 3.2, 3.3 and 3.4 comprising
      thereof are deleted in their entirety and replaced with the following:

      “3. BONUS PAYMENTS

3.1 If at any time after the Optionee
acquires the Interest in the Property, the Optionee, or any subsidiary or
affiliate (as those terms are defined in the Business Corporations Act,
S.B.C., c.57, as amended from time to time) of the Optionee who may then be
holding the Interest in the Property (including, but not limited to PPI Holding
Corp.), sells, leases, mortgages, transfers, pledges, disposes, or subjects the
Property to any other type of transaction or string of transactions
(collectively, a “transfer transaction”) which, in effect, results in the
legal or beneficial transfer of all of Interest, a bonus payment shall be paid
to the Optionor in accordance with the following bonus payment schedule:

	 	(a) 	
      if the Interest is transferred to any for an aggregate
      consideration valued at less than US$30,000,000, then no bonus
      payment shall be payable by the Optionee to Potash Green, LLC;

	 	 	 
	 	(b) 	
      if the Interest is transferred to any party by a transfer
      transaction for an aggregate consideration valued equal to or greater than
      US$30,000,000 and less than US$40,000,000, then the Optionee
      shall pay to the Potash Green, LLC a one-time bonus cash payment within three business days of the
      receipt by the Optionee of any proceeds from the said transfer transaction
      in the amount of 20% of the gross consideration received in excess of
      US$30,000,000 to a maximum of US$2,000,000. For greater certainty, in the
      event that the Optionee sold the Interest to a party for US$31,000,000,
      the Optionee would then be obligated to pay the Potash Green, LLC a bonus
  cash payment of US$200,000;

3

	 	(c) 	
      if the Interest is transferred to any party by a transfer
      transaction for aggregate consideration valued equal to or greater than
      US$40,000,000 and less than US$50,000,000, then the Optionee
      shall pay to the Potash Green, LLC a one-time bonus cash payment within
      three business days of the receipt by the Optionee of any proceeds from
      the said transfer transaction in the aggregate amount of US$2,000,000 plus
      10% of the gross consideration received in excess of US$40,000,000 to a
      maximum of US$1,000,000. For greater certainty, in the event that the
      Optionee sold all of the Interest to a party for US$41,000,000, the
      Optionee would then be obligated to pay the Potash Green, LLC a bonus cash
      payment of US$2,100,000; and

	 	 	 
	 	(d) 	
      if the Interest is transferred to any party by a transfer
      transaction for aggregate consideration valued equal to or greater than
      US$50,000,000, then the Optionee shall pay to the Potash Green, LLC a
      one-time bonus cash payment within three business days of the receipt by
      the Optionee of any proceeds from the said transfer transaction in the
      aggregate amount of US$3,000,000 plus 20% of the value of the gross
      consideration received in excess of US$50,000,000. For greater certainty,
      in the event that the Optionee sold all of the Interest to a party for
      US$60,000,000, the Optionee would then be obligated to pay the Potash
      Green, LLC a bonus cash payment of US$5,000,000.

3.2 If at any time after the Optionee
acquires the Interest in the Property, the Optionee, or any subsidiary,
associate or affiliate of the Optionee who may then be holding the Interest in
the Property, enters into a transfer transaction and results in the legal or
beneficial transfer of less than 100% of the Interest, then the foregoing
provisions under Section 3.1 will apply if the “deemed gross consideration
value” calculated by multiplying the consideration value by the ratio of (100% /
the percentage interest subject to the transfer transaction) is above or within
the consideration value thresholds set out in Section 3.1. Any bonus payments to
be calculated upon the transfer transaction of a portion of the Interest shall
be calculated using the calculation formulas set out in the applicable
subsections of Section 3.1 for the deemed gross consideration value, and then
rateably reducing this amount by multiplying the percentage interest subject to
the transfer transaction. For example, a 50% Interest is sold for US$28,000,000.
The deemed gross consideration value would be US$56,000,000. The bonus payment
on this deemed gross consideration value would be US$4,200,000 (Section 3.1(d)),
however, as only a 50% Interest was sold, US$2,100,000 would be payable to the
Potash Green, LLC upon receipt of any proceeds of the sale by the Optionee. The
bonus payment provisions under Section 3.1 would continue to apply to the
remainder 50% Interest held by the Optionee.”.

	 	i. 	
      Section 4.1(a) is deleted in its entirety and replaced
      with the following:

	 	 	 
	 		
      “The Optionor holds 100% legal and beneficial interest in
      the Property comprised of a 70% legal and beneficial interest in favour of
      RBV, a 20% legal and beneficial interest in favour of WWT and a 10% legal
      and beneficial interest in favour of JJH.”

	 	 	 
	 	j. 	
      Section 4.1(b) is deleted in its entirety and replaced
      with the following:

	 	 	 
	 		
      “The Property and the Optionor’s interest therein are
      free and clear of any and all encumbrances (including, without limitation,
      any order or judgment relating to the Property or any legal proceedings in
      process, pending or threatened which might result in any
  such order or judgment), royalties or other payments in the
      nature of a rent or royalty, or other interests of whatsoever nature or
  kind, recorded or unrecorded.”

4

	 	k. 	
      Section 4.1(c) is deleted in its entirety and replaced
      with the following:

	 	 	 
	 		
      “That it has the right and authority to enter into this
      Agreement and to carry out the terms and conditions contained herein and
      upon the exercise of the Option for the Interest, to transfer the Interest
      to the Optionee free and clear of all encumbrances.”

	 	 	 
	 	l. 	
      Section 4.1(e) is deleted in its entirety and replaced
      with the following:

	 	 	 
	 		
      “That the Property has been properly located and recorded
      and is in good standing in accordance with the laws of Arizona.”

	 	 	 
	 	m. 	
      A new paragraph (g) is added to Section 5.1 and read as
      follows:

	 	 	 
	 		
      “Notwithstanding the transfer of title contemplated
      herein and the representation by the Optionor under Section 4.1(b), the
      Optionee acknowledges its obligation to timely meet the schedule as set
      out in Sections 1.2, 1.3, 1.4, as amended.”

	 	 	 
	 	n. 	
      Section 5.2, “Covenants,” is amended to read as
      follows: “Covenants. Prior to the assignment of title in and to the
      Property pursuant to Section 2.1, the Optionee covenants with the Optionor
      as follows:

	2. 	
      This Amendment Agreement is subject to the prior written
      acceptance by the TSX Venture Exchange.

	 	 
	3. 	
      The parties hereto acknowledge the right and privilege of
      the Optionor or the Optionee to file, register, or otherwise deposit a
      copy of this Amendment Agreement in the appropriate recording office for
      the jurisdiction in which the Property is located, or with any other
      governmental agencies, to give third parties notice of this Amendment
      Agreement, and hereby agree, each with the other, to do or cause to be
      done all acts or things reasonably necessary to effect such filing,
      registration or deposit.

	 	 
	4. 	
      The parties agree that as part of the consideration for
      the Optionor to enter into this Amendment Agreement, the Optionor and
      Optionee will enter into a settlement agreement and mutual release in the
      form set out in Schedule “A” attached hereto.

	 	 
	5. 	
      Except as provided in this Amendment Agreement, all other
      terms and conditions of the Original Agreement shall continue to have the
      same effect and force as though the parties had not entered into this
      Amendment Agreement.

	 	 
	6. 	
      Each of the parties hereby covenants and agrees that at
      any time upon the request of the other party, do, execute, acknowledge,
      and deliver or cause to be done, executed, acknowledged, and delivered all
      such further acts, deeds, assignments, transfers, conveyances, powers of
      attorney, and assurances as may be required for the better carrying out
      and performance of all the terms of this Amendment Agreement. This
      Amendment Agreement will be governed by and be construed in accordance
      with the laws of British Columbia. This Amendment Agreement will be
      binding upon and ensure to the benefit of the parties hereto and their
      respective heirs and executors and successors and assigns as the case may
      be. This Amendment Agreement may not be assigned without the prior written
      consent of the other party. No modification or amendment to this Amendment
      Agreement may be made unless agreed to by the parties thereto in writing.
      In the event any provision of this Amendment Agreement will be deemed
      invalid or void, in whole or in part, by any court of competent
      jurisdiction, the remaining terms and provisions will remain in full force
      and effect. Time is of the essence.

5

	7. 	
      This Amendment Agreement may be executed in any number of
      counterparts with the same effect as if all parties to this Amendment
      Agreement had signed the same document and all counterparts will be
      construed together and will constitute one and the same instrument and any
      facsimile signature shall be taken as an original.

IN WITNESS WHEREOF the parties have executed this Amendment
Agreement effective the date first above written.

NORTH AMERICAN POTASH DEVELOPMENTS INC.

Per:  /s/ Simon
Tam                     
 
         Authorized
Signatory 
         Name:  
Simon
Tam             
        
Title:    
Director                   

POTASH GREEN, LLC

Per:  /s/ Wendy W.
Tibbetts            

        Authorized Signatory

        Name:  Wendy Walker
Tibbetts
       
Title:   
Manager                           

 /s/ Joseph J.
Hansen                   

JOSEPH J. HANSEN

 /s/ Wendy W.
Tibbetts
WENDY WALKER TIBBETTS

PASSPORT POTASH INC.

Per: /s/ Joshua
Bleak
       Authorized Signatory

       Name:    Joshua Bleak

       Title:     
President and CEO

6

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