AGREEMENT THIS AGREEMENT is dated for reference the 5th day of March, 2010. BETWEEN:
Exhibit 4.16
AGREEMENT
THIS AGREEMENT is dated for reference the 5th day of March, 2010.
BETWEEN:
LINUX GOLD CORP.
#000 - 00000 Xxxxxxxxxxx Xxx
Xxxxxxxx, XX X0X 0X0
("Linux")
OF THE FIRST PART
AND:
XXXXX RESOURCES CORP.
#000 - 00000 Xxxxxxxxxxx Xxx
Xxxxxxxx, XX X0X 0X0
("Xxxxx")
OF THE SECOND PART
Re: Extension of the Fish Creek property
WHEREAS:
A. |
Linux owns a 50% interest in 30 claims in Fairbanks, Alaska called the Fish Creek Claims; | |
B. |
Linux and Xxxxx have agreed to a joint venture on the Fish Creek Claims in an agreement dated March 5, 2002 as amended on November 1, 2002 (together the “Agreement”) and extended on March 5, 2005, March 5, 2007 and on March 5, 2009; | |
C. |
Xxxxx could not complete the drill program due to a lack of available funds in 2008 and 2009. | |
NOW THEREFORE in consideration of the mutual covenants and conditions set forth herein, the parties hereto agree as follows:
1. | Linux agrees to extend the said Fish Creek Claims agreement until March 5, 2011. |
IN WITNESS WHEREOF the parties hereto have executed this Agreement as of the day and year first above written.
LINUX GOLD CORP. | XXXXX RESOURCES CORP. | ||
/s/ Xxxx Xxxxxxxxx | /s/ Xxxx Xxxxxxxxx | ||
Xxxx Xxxxxxxxx, President | Xxxx Xxxxxxxxx, President |