AMENDMENT TO EXPLORATION AND OPTION TO PURCHASE AGREEMENT Date November 19, 2008
AMENDMENT
TO EXPLORATION AND OPTION TO PURCHASE AGREEMENT
Date
November 19, 2008
North
American Minerals Group Inc. (“NAMG”) and Ice Resources Inc., (“ICE”) have
entered into an Exploration and Option to Purchase Agreement effective and
signed on August 21, 2007.
Pursuant
to Article 3 “Option to Acquire the Property” and in item 3.2 or such agreement
NAMG is obligated to Exploration Expenditures of CDN$100,000 on the First,
Second and Third year anniversary’s effective as of the date of the
agreement.
ICE and
NAMG have renegotiated the required expenditure waving the First year obligation
and increasing the Second year obligation to CDN$200,000. The Third
year obligation remains at CDN$100,000. It is understood by ICE that
NAMG has already spent approximately CDN$50,000 before the First year
anniversary.
In
consideration for the this Amendment to the agreement NAMG has agreed to grant
ICE 100,000 Options to purchase its Common Share at the time NAMG is authorized
to issue such Options. The price of each Option to purchase Common
Share will be priced at the Public Offering price which is deemed to be 30 cents
CDN.
Date this
19, of November 2008.
CORP SECR: /s/ Xxxxxx Xxxxx | |
North
American Minerals Group Inc. Authorized signature
|
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/s/ Xxxxxxx X. Xxxxxx | |
Ice
Resources Inc. Authorize
signature
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