AMENDMENT NO. 1 TO MINING ACQUISITION AGREEMENT
AMENDMENT
NO. 1 TO MINING ACQUISITION AGREEMENT
This
AMENDMENT NO. 1 TO MINING ACQUISITION AGREEMENT is entered into as
of
February __,
2006
(this “Amendment”)
between
Xxxxxx Xxxxx, an individual ( “Xxxxx”),
and
Novastar Resources Ltd., a Nevada corporation (“Novastar”).
WHEREAS,
Xxxxx and Novastar entered into a Mining Acquisition Agreement, assigning
all Thorium deposits (Thorium only) to Novastar, dated as of September 30,2005,
(the
“Agreement”);
and
WHEREAS,
Xxxxx and Novastar desire to clarify the remedies available to Xxxxx in the
event
of
a breach of the Agreement.
“NOW,
THEREFORE, in consideration of the mutual promises of the parties hereto, and
of
good
and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged,
the parties hereto agree as follows:
1.
Remedies.
Xxxxx
and Novastar agree, notwithstanding any other provision in the Agreement,
that the sole remedy available to Xxxxx for a breach of the Agreement by
Novastar shall
be
the termination of the Agreement by Xxxxx and that no further relief or
recourse, whether
at law, in equity, or otherwise, will be available to Xxxxx. Without limiting
the generality
of the foregoing, notwithstanding any breach by Novastar of the Agreement,
whether occurring
heretofore or hereafter, Xxxxx shall not be entitled to money damages an
injunction or any recourse or remedy other than termination of the
Agreement.
2. Agreement.
In all
other respects, the Agreement shall remain in full force and
effect.
3.
Counterparts.
This
Amendment may be executed in two or more counterparts, each of which
shall be deemed an original but all of which together shall constitute one
and
the same instrument.
4. Governing
Law.
This
Amendment shall be governed by and construed in accordance with
the
laws of the State of Nevada.
[REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK]
IN
WITNESS WHEREOF, the parties hereto have duly executed this Amendment as of
the
date
first above written.
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XXXXXX
XXXXX
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MAR
3 ’06.
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| By: |
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Name:
XXXX
XXXXXXXX
Title:
SECRETARY –
NOVASTAR
RESOURCES Ltd. 3/5/06
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IN
WITNESS WHEREOF, the parties hereto have duly executed this Amendment as of
the
date
first above written.
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XXXXXX
XXXXX
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MAR
3 ’06.
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| By: |
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Name:
XXXX
XXXXXXXX
Title:
SECRETARY - NOVASTAR RESOURCES
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