PROPERTY OPTION AMENDMENT AGREEMENT
Exhibit
10.8
PROPERTY
OPTION AMENDMENT AGREEMENT
THIS
AMENDMENT AGREEMENT
(“Amendment Agreement”) is made on December 27, 0000
XXXXXXX:
XX.
XXXXX XXXXX LTD.,
(“St.
Xxxxx”) of Suite 314 - 000 Xxxx Xxxxxx Xxxxxx, Xxxxxxxxx, X.X., X0X 0X0,
of
the
first part,
AND:
HI
HO SILVER RESOURCES INC.,
(“Hi Ho
Silver”) of Suite #15A, 0000 Xxxxxxxxxx Xxxx, Xxxxxxxxxxx, Xxxxxxx, X0X 0X0,
of
the
second part.
WHEREAS
St.
Xxxxx
and Hi Ho Silver entered into a Property Option Agreement dated September 12,
2005 (the “Option Agreement”);
AND
WHEREAS
the
parties mutually wish to amend the Option Agreement as set out
herein;
NOW,
THEREFORE,
in
consideration of the sum of $1.00 paid by each of the parties to the other
and
for and other good and valuable consideration (the receipt and sufficiency
of
which is hereby acknowledged), the parties agree as follows:
| 1. |
The
Option
Agreement
is
to be amended by deleting
subsection 1.01 (b) (i) of the Option Agreement and replacing it with
the
following:
|
|
(i)
|
Exploration
Expenditures totalling $400,000 (the “Phase
I Program”)
to be incurred on or before February 28, 2007;
|
| 2. |
The
Option Agreement is to be amended by deleting section 19.01 of the
Option
Agreement and replacing it with the
following:
|
| 19.01 |
Any
notice, election, consent or other writing required or permitted
to be
given hereunder shall be deemed to be sufficiently given if delivered
or
if mailed by registered air mail or by fax, addressed as
follows:
|
In
the
case of St. Xxxxx:
St.
Xxxxx
Xxxxx Ltd.
000
- 000
Xxxx Xxxxxx Xxxxxx
Xxxxxxxxx,
XX X0X 0X0
Attention:
Xxxx XxXxxxxxxx, President
Fax
No.:
(000) 000-0000
In
the
case of the Hi Ho Silver:
#15A,
0000 Xxxxxxxxxx Xxxx
Xxxxxxxxxxx
XX X0X 0X0
Attention:
Xxxxxxxxx X. Xxxxxx, President
Fax
No.:
(000) 000-0000
and
any
such notice given as aforesaid shall be deemed to have been given to the parties
hereto if delivered, when delivered, or if mailed, on the tenth business day
following the date of mailing, or, if faxed, on the next succeeding business
day
following the faxing thereof PROVIDED HOWEVER that during the period of any
postal interruption in either the country of mailing or the country of delivery,
any notice given hereunder by mail shall be deemed to have been given only
as of
the date of actual delivery of the same. Any party may from time to time by
notice in writing change its address for the purpose of this
paragraph.
| 3. |
No
other changes shall be made at this time to the Option Agreement and
all
other provisions of the Option Agreement shall remain in full force
and
effect.
|
| 4. |
This
Amendment Agreement shall replace and supersede
|
| (a) |
a
certain Property Option Amendment Agreement between the parties dated
May
29, 2006; and
|
| (b) |
a
certain Property Option Amendment Agreement between the parties dated
June
21, 2006.
|
| 5. |
This
Amendment Agreement may be executed in one or more counterparts, each
of
which shall be deemed to be an original and which together shall
constitute one and the same agreement. Delivery
of an executed copy of this Amendment
Agreement
by
electronic facsimile transmission or other means of electronic
communication capable of producing a printed copy will be deemed to
be
execution and delivery of this Agreement as of the date first set forth
above.
|
IN
WITNESS WHEREOF, each
of
the parties has executed this Amendment Agreement as of the date first above
written.
|
ST.
XXXXX XXXXX LTD.
|
HI
HO SILVER RESOURCES INC.
|
||
|
/s/
Signed
|
/s/ Signed
|
||
|
By: Authorized
Signatory
|
By: Authorized
Signatory
|
