Carleton Ventures Corp.
Suite 000 - 0000 Xxxxx Xxxxxx
Xxxxxxxxx, X.X.
V6B 2X6
September 30, 2002
Senate Capital Group Inc.
Suite 000 - 0000 Xxxxx Xxxxxx
Xxxxxxxxx, X.X.
V6B 2X6
Dear Sirs:
Re: Deferral of Management Fees
-----------------------------------
Pursuant to the Company's Office Facilities and Service contract dated February
1, 2001, this letter serves as a record of our agreement that Carleton Ventures
Corp. (the "Company") is entitled to defer the payment of the monthly management
fee in order to enable the Company to proceed with further exploration of its
mineral properties. These deferred management fees consisting of accrued
management fees of $5,500 as of September 30, 2002 and ongoing management fees
of $1,000 per month will only be paid to Senate Capital if we achieve sufficient
additional financing that will enable us to pay these accrued management fees
without impeding our exploration plans.
If this is acceptable please sign below.
Sincerely,
Xxxxxx Xxxxx
Secretary
AGREED AND ACCEPTED BY SENATE CAPITAL GROUP INC.
Xxxxxx X. Xxxxx, President
