ADDENDUM #1 TO OPTION AGREEMENT
ADDENDUM #1 TO OPTION AGREEMENT
---------------------------------
This Addendum made this 31st day of December, 2007
BETWEEN:
XXXXX X. XXXXXXXX, of Box 73575, 0000 Xxxxxx Xxxxxx, Xxxxxxxxx, XX X0X 0X0
OF THE FIRST PART
AND
BIG BEAR RESOURCES, INC. of 804 – 0000 Xxxxxxxx Xxxxxx, Xxxxxxxxx, XX X0X 0X0
OF THE SECOND PART
WHEREAS:
A.
On January 23, 2007, the Parties entered in an Option Agreement (the “Agreement”) for
B.
The Parties have agreed to amend certain terms of the Agreement.
NOW, THEREFORE, this Addendum shall supersede and replace the following sections of the Agreement.
4.
Grant and Exercise of Option
(b)
The Option shall be exercised by the Optionee:
(iii)
incurring Exploration Expenditures of up to $32,000 US on the Property as follows:
(A)
$2,000 US on or before December 31, 2008;
(B)
A further $10,000 on or before June 30, 2009; and
(C)
A further $20,000 US on or before December 31, 2009.
IN WITNESS WHEREOF the Parties hereto have executed this Agreement as of the day and year first above written.
OPTIONOR:
OPTIONEE:
/s/ Xxxxx X. Xxxxxxxx
/s/ Xxxxx X. Xxxxxxxx
XXXXX X. XXXXXXXX
BIG BEAR RESOURCES, INC.
BY: XXXXX X. XXXXXXXX, PRESIDENT
