DEFERRAL OF INTEREST AGREEMENT

DEFERRAL OF INTEREST AGREEMENT  

THIS AGREEMENT made the 30th day of October, 2008.

BETWEEN:

STAR RESORTS DEVELOPMENT INC., a corporation incorporated under the laws of the State of Nevada

(“ Star Resorts ”)

AND:

BLUE MINT EXPLORATION INC. , a private corporation

(“ Blue Mint ”)

WHEREAS:

A.           Pursuant to a Convertible Promissory Note dated February 19, 2008 in the principal amount of US$500,000, a Convertible Promissory Note dated April 3, 2008 in the principal amount of US$500,000 and a Convertible Promissory Note dated May 22, 2008 in the principal amount of US$300,000 (each, a “ Note ” and collectively, the “ Notes ”), Blue Mint has paid to Star Resorts an aggregate amount of US$1,300,000;

B.            Pursuant to Section 1 of each Note, Star Resorts agreed to pay Blue Mint interest on the Notes at the rate of 9% per annum (the “ Interest ”), which such Interest was to be payable on each Note semi-annually, beginning on the first day of the first month following 180 days from the date of each respective Note, with subsequent payments being due and payable on the first day of the month every six months thereafter (the “ Interest Payment Dates ”); and

C.            Blue Mint and Star Resorts wish to suspend the payment of Interest on each of the Notes until such date as shall be mutually determined by the parties hereto.

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