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Exhibit 10.6
JOINT VENTURE AGREEMENT
This Agreement made as of the 24th day of May, 2006.
BETWEEN:
CANAMEX CORPORATION, a Company duty
incorporated pursuant to the laws of
the Country of Mexico, formed in Tecate,
registered in Mexico City #4/4955
with Tax # E 4191064, having its business
office at 188 Pipila Fracc
Buenaventura CP. 22880, Enesnada Baja
California Norm,
(hereinafter referred to as "Canamex")
AND:
STEPHEN L. SMITH, a Businessman as well as
President and major shareholder
of Canamex, situated in Mexico having
residence at 188 Pipila Fracc
Buenaventura C P. 22880, Enesnada Baja
California North.
(hereinafter referred to as "Steve
Smith")
AND:
GEMCO MINERALS, INC., a Company duly
incorporated in the State of Florida
having its business office at Suite 203
-20189 56th Avenue Langley, BC, V3A
3Y6
(hereinafter referred to as "Gemco")
WHEREAS Canamex is a Mexican mining company with the ability to
attain the
mineral rights to a strategic sand deposits south of Punta Colonet,
Mexico (the
"Sand Deposit Property"), and;
WHEREAS Gemco has significant contacts and clients in the
industrial mineral
industry, and is interested in a joint venture with Canamex who is
also desirous
of a joint venture relationship, which the Parties wish to form
pursuant to the
terms of this agreement
NOW THEREFORE IN CONSIDERATION of the sum of $10.00 US and other
good and
valuable consideration) paid by each party to the other parties to
this
Agreement, the receipt and sufficiency whereof is hereby
acknowledged by all of
the parties hereto, and the mutual promises and covenants
hereinafter set out,
the Parties agree as follows:
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1. Gemco will
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