Exhibit 99.54
JOINT ACKNOWLEDGEMENT
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This Acknowledgement is delivered in connection with the consulting agreement
(the "Consulting Agreement") dated as of May 13, 1997 between First Dynasty
Mines Armenia Limited (formerly Global Gold Armenia Limited) ("FD Armenia")
and Xxxxxx X. Xxxxxxxx ("Xxxxxxxx").
FD Armenia and Xxxxxxxx have agreed pursuant to section 3 of the Letter
Agreement dated for reference the 24th day of July, 1998 between First
Dynasty Mines, Global Gold Corporation, and Xxxxxxxx to terminate the
Consulting Agreement.
The undersigned hereby acknowledge that the Consulting Agreement is hereby
terminated and, as such, all the rights, duties and obligations of each of FD
Armenia and Xxxxxxxx to each other arising out of or related to the
Consulting Agreement are hereby terminated.
The undersigned also hereby acknowledge that each of FD Armenia and Xxxxxxxx
are hereby released and discharged absolutely and forever from any further
obligations in respect of the Consulting Agreement.
Dated this 31st day of August, 1998.
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FIRST DYNASTY MINES ARMENIA LIMITED
Per:/s/ XX Xxxxxxxx /s/ Xxxxxx Xxxxxxxx
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Authorized Signatory XXXXXX X. XXXXXXXX
