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PURCHASE AGREEMENT

Purchase and Sale Agreement

PURCHASE AGREEMENT | Document Parties: GOLD CREST MINES INC You are currently viewing:
This Purchase and Sale Agreement involves

GOLD CREST MINES INC

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Title: PURCHASE AGREEMENT
Date: 3/25/2009

PURCHASE AGREEMENT, Parties: gold crest mines inc
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PURCHASE AGREEMENT

 

This Purchase Agreement (the "Agreement" ") is made this 13th day of March, 2009 between Gold Crest Mines, Inc. ("Seller") and Frank Duval as an individual or agent for and on behalf of a company to be formed for the purpose of acquiring the mining claims the subject of this Agreement ("Purchaser").

 

WITNESSETH

 

WHEREAS, Purchaser desires to purchase and Seller desires to sell all of Seller's rights, title and interest in and to approximately 46 unpatented federal mill site claims and 185 unpatented federal lode claims in the Stibnite District of Idaho (the "Claims").

 

NOW THEREFORE, the parties hereto for the covenants, representations and undertakings herein set forth below agree as follows:

 

1.  Purchaser shall pay Seller a sum of $50,000 for all of its rights, title and interest in and to the Claims as follows:

 

(a).  $25,000 within 10 days of  execution of this Agreement, and

 

(b)  $25,000 October 1, 2009.

 

2.  Seller shall, upon receipt of payment of $50,000 made by Purchaser, execute a quitclaim deed conveying all of its rights, title and interests in and to the Claims.  All fees and expenses related to the conveyance of the properties will be paid by Purchaser.

 

3.  Purchaser shall timely pay the BLM fees required to maintain the claims in good standing for the 2009 assessment year unless Purchaser shall notify Seller in writing, no later than August 1, 2009, of his intent not to proceed with the purchase of the Claims. If Purchaser shall give notice of intent not to proceed with the purchase of the Claims as provided in this paragraph, then the $25,000 initial payment shall be forfeited.

 

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

 

The parties hereto have executed this Agreement effective as of the date written above.

 

PURCHASER

 

SELLER

 

 

 

 

 

 

/s/ Frank Duval 

 

/s/ Matt J. Colbert

Frank Duval

 

Matt J. Colbert

 

 

Gold Crest Mines, Inc.

 

 

By: Its Chief Financial Officer

 

 

 



 
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