|
EXHIBIT 10.30
EXPLORATION AGREEMENT AND PURCHASE OPTION
This Exploration
agreement and Option Purchase is celebrated in the city of
Chihuahua, Chihuahua State dated November 20,
2007.
BETWEEN:
MR. RENE MURO LUGO,
acting for their own rights and also in his capacity as executor of
succession to property of SR, JOSE MURO DELGADO, with the
permission of her husband GUADALUPE LUGO GONZALEZ ON MURO Widow,
whose succession is also executor.
(Hereinafter the
current term "Grantiners")
FOR THE FIRST
PART
And
SUNBURST MINING OF
MEXICO, S. A. DE C. V., corporation duly organized under the laws
of the United Mexican States, represented in this event by MR.
MARIO HUMBERTO Ayub TOUCHE and ROBERT WAYNE KNIGHT in his capacity
as legal representatives with general powers to lawsuits and
collections, events management and domain, residing at Calle
General Retana. 706, Col. San Felipe, Chihuahua, Chih. C.P.
31203
(Hereinafter the
"Explorer")
BY THE SECOND PART
WHEREAS:
A.
Mr. Jose Muro Delgado, late, through his inheritance,
owns 33 191086 which protects the rights of mineral exploitation on
the lot "Second St.
Child located in the
Municipality of Moris, Chihuahua State
(hereinafter
"Mining
Concession").
B. Mr. Jose Muro
Delgado, married life was under conjugal society with Mrs. C.
GUADAULPE LUGO GONZALEZ ON MURO Widow, who expressed his approval
for the disposal of the Mining Concession, as reflected in the cars
that make up the trial Intestament number 613/85 of the Fifth Civil
Court, in conjunction with the various heirs, who told turn your
permission to make the appropriate disposition, adds certified copy
of such records.
C. C. RENE MURO LUGO,
is executor of the successions of Dealers, which is demonstrated
with certified copies of trials Intestament numbers 613/85 before
the Fifth Court of Civil regarding the succession of C. JOSE MURO
DELGADO AND 1145/2006, the index of the Third Court of Civil
regarding the succession of C. GUADALUPE LUGO GONZALEZ MURO Widow
of both the Judiciary Distrito Morelos, which is attached to this
contract, saying that such a character to date has not been revoked
or modified in any way.
D. On May 16, 2006,
Mr. Dagoberto, Joseph and Rene surname MURO LUGO, who said to be
unique and universal heir of his father, with the Explorer held a
private contract for exploration and purchase option on the mining
concession described above , and the date received by the concept
the following payments:
A) $ 1666.50 American
dollars, February 20, 2006;
B) $ 3333.00 American
dollars or the equivalent in currency
National, May 16,
2006;
C) $ 3333.00 American
dollars or the equivalent in currency
National, November
14, 2006;
D) $ 3333.00 American
dollars or the equivalent in currency
National, May 14,
2006.
Such amounts shall be
paid at the price specified in the option
Fourth clause of this
contract, on the third their fair share of the payments referred to
in paragraphs a), b), c) and d) of point
4.1.1 of the clause
Fourth.
E. The dealers want
to give the Explorer, the Explorer and wishes to acquire the
Grantiners, the Rights Exploration and Option Purchase of 33.33%
ownership of the Mining Concession, subject to the terms and
conditions agreed upon in this instrument (all those terms as
defined below).
THEREFORE, in
accordance with demonstrations and warranties mutually declared by
the parties to this Agreement, the parties agree as
follows:
SECTION
1
ANNEXES AND DEFINITIONS
1.1. The following
annexes form parts of the Contract:
Annex A - English
version
Annex B - Title
mining concession. 191086
Annex C - Documentaries on the Trials Intestament
cited.
1.2. The following
terms shall, when used in this Agreement, the meaning and
interpretation which then brought (unless expressly provided in the
contract or if the context requires otherwise):
The Agreement
means this Agreement,
as supplemented or amended by the parties.
Area of Influence mean surface area which includes
the perimeter of the area covered by the Mining
Concession.
Exploration Rights means all the rights described in
Part 6 of this Agreement.
Option means
the right of option granted by Licensees to the Explorer to buy
100% of their rights of the Mining Concession pursuant to Section
4.
Period Option means the term of the option,
beginning on the date of signing of this Agreement and concluding
in the period specified in the fourth clause of this
contract.
Notice of Exercise means that previously the
Explorer should alert you
Licensees writing of
its intention to exercise the option.
Sales Act
through which Dealers transmitted to the Explorer one hundred
percent of the ownership of the mining
concession.
SECTION
2
EXPRESSIONS AND
GUARANTEES OF GRANTINERS
2.1 The Grantiners
say and agree with the Explorer:
(A) Licensees are
holders of 33.33% of the Mining Concession and maintain such
ownership to enable the Explorer exercise of the right of option
under this contract.
(B) Granting Mining
is the date of the signing of this Agreement and continue for the
duration of this free of any lien, encumbrance and claim the third
and one in full compliance with their obligations under the Mining
Law and Regulation.
(C) No person, firm
or corporation has entered into any contract or option, or have any
right or privilege which might become contract or option to
purchase or acquisition of the Mining
Concession.
(D) There is no claim
against or conflict related to the ownership of the Mining
Concession, and is not aware that there are grounds for this, and
no one has any regalia or other legal interest of any kind with
respect to mineral production Granting of the
Mining.
(E) Mining Concession
has been duly and validly located, and is correctly described in
this Agreement.
(F) While this
Agreement is in force Licensees:
A. Not reduced or
submit application to reduce the surface area of the lot covered by
the Mining Concession, without the written consent of the
Explorer,
B. Not taxed, or
offer a warranty affect the rights stemming from the Mining
Concession,
C. Perform any action
that is required, necessary or prudent to prevent and to prevent
any third serious or affects, or attempts to encumber or affect the
rights arising from the Mining Concession,
D. Shall and ensure
the peaceful possession and enjoyment of the rights granted to the
Explorer in this Agreement, and
E. Not carried out
any act that is inconsistent with the transactions covered by this
instrument.
F. Should be reached to submit any judicial or non-judicial dispute
arising from the ownership of this grant, is committed to
reorganize and respond in a manner conducive to the interests of
the EXPLORADORA such disputes and if necessary to compensate for
any damage to it for that reason.
2, 2 The Grantin ers are obliged to continue
application for the trials inheritance
Intestament and
finish in each of the cases within six (6) months, so that there is
no obstacle or legal impediment to making the final purchase, must
obtain the approval of all the co-heirs in both Inheritance if
necessary. To ensure compliance with the obligation previously
contracted Licensees will leave irrevocable special power for acts
of administration to manage the continuity of trials and
inheritance intestament, write the contract for the sale of 100%
(one hundred) (percent) ownership of the mining concession in the
public register of mining; power reference will be awarded to
Messrs. Mario Humberto Ayub Touché and / or Francisco Javier
Moctezuma Aguinaga and / or Andres Alfredo Perez Howlet to be
exercised in a manner separate.
The power granted
under this clause shall be irrevocable for having been awarded as a
condition of this contract and also as a means for the dealers
comply with the obligations they made for themselves, on such terms
and for the purposes of Article 2596 (two thousand five hundred
ninety and six) of the Federal Code and its correlative of the
Civil Code for the State of Chihuahua. The rule reads as follows,
in the matter: "The principal may revoke the mandate as and when it
sees fit; least in those cases where award was stipulated as a
condition ma in a bilateral contract, or as a means to fulfill an
obligation contracted "
For the attorneys
appointed in the preceding paragraph of this section are authorized
to exercise power in the same area, simply have passed 30 (thirty)
days from the signing of this contract and have not done any
management in the respective courts for further formalities of
trials inheritance, or who have not completed the formalities have
been completed the trial within a period of 6 (six) months from the
signing of this contract.
SECTION
3
EXPRESSIONS AND GUARANTEES OF EXPLORADORA
The Explorer 3.1
represents and warrants to Licensees:
(A) It is a company
limited capital variable in existence and
Duly constituted
under the laws of the United Mexican States
And is able to hold
right under this act,
(B) has the legal
capacity required under law to acquire as
Owner: (i) ownership
of mining claims located within the territory of the United Mexican
States, in accordance with Article 11 of the Mining Law in force,
and (ii) located outside the actual rights constitutionally
restricted area within Mexican territory under OA article 1 of the
Foreign Investment Law and Article 8 of its
Regulation,
(C) You are familiar
with their obligations to register the Public Registry of Mining
and the National Registry of Foreign Investment
(D) It has obtained
all approvals, licenses and registrations required to conclude this
contract and to be bound by its terms, and in particular for the
acquisition of Dealers Choice.
| 
