PINNACLE RESOURCES, INC. OFFICERS AND DIRECTORS
0000 X. XXXXXXXX XXX. XXXX "TRIG" XXXXXX, PRES.
ENGLEWOOD, COLORADO 80111 X.X. XXXXXXXXXX, DIRECTOR
(000) 000-0000 TELE XXXXX X. XXXXXX, DIRECTOR
(000) 000-0000 FAX
PLATEAU RESOURCES LOAN AGREEMENT
On this 22nd day of March 1998, Pinnacle Resources, Inc., a Wyoming Corp.,
whose principal place of business is 0000 Xxxxxxxx Xxx., Xxxxxxxxx XX 00000
(Pinnacle) hereby agrees to make a loan in accordance to the following terms
and conditions:
Loan made to: PLATEAU RESOURCES (PTY) LTTD, a South African
Corporation
Address: P.O. Box 485, Hartbeespoort, South Africa 0216
Signatory of Borrower: Xxxx X.X. Xxxxxxxxx, as Managing Director
Loan Amount: $75,000
Loan Date: March 22, 1998
Loan Duration Date: One Year or (365) days to close of business
March 22, 1999
Cost of Loan: On or before due date Borrower may pay off the
loan in the principal amount of $75,000,
together with origination fees and interest at
the rate of $144 per week. There will be no
penalty for prepayment and parts of a week shall
be charged at $20.60 per day.
Collateral for Loan: Drilling Application Deposit on File with the
Mineral & Energy Departnment, Environmental
Division Pretoria, R.S.A.
Use of Proceeds: Borrower must show financial capability in order
to secure approval for permits to commence
exploration drilling
The undersigned, being an officer of the Borrower, with requisite authority
to exectue this Loan Agreement, hereby accepts the terms and conditions as
the loan provisions set forth herein and agrees to repay the principal,
together with the appropriate costs, on or before the due date, which is
March 22, 1999
Borrower /s/ Xxxx X.X. Xxxxxxxxx
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Plateau Resources (PTY) LTD
Xxxx X.X. Xxxxxxxxx, Managing Director
Loan Approved by /s/ Xxxx X. Xxxxxx
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Pinnacle Resources, Inc.
Xxxx X. Xxxxxx, President
