Option to Purchase Mineral Claims Agreement
Exhibit 10.1
BETWEEN: FIRSTLINE ENVIRONMENTAL SOLUTIONS INC , A British Columbia
Incorporated Company in the Dominion of Canada, also incorporated in
Florida, USA with its registered office at suite 000-00000 Xxxxxxx Xxxxxxxx
Xxxxxxx XX X0X 0X0 (previously called Firstline Recovery Systems Inc.)
(Hereinafter referred to as “Firstline” )
AND: GEORGIA INTERNATIONAL MINING CORPORATION, A Nevada
Incorporated Company of the United States of America, with its office
At 101 Convention Centers Drive 7th Floor, Las Vegas, Nevada. 89109
(Hereinafter referred to as “Georgia” )
Firstline has granted Georgia the right to mine minerals from mineral claims owned by Firstline Recovery Systems Inc in Xxxxx Mountain area located in the Caribou District, British Columbia. The Mineral Claims encompass 3,900 hectares or 12,000 acres. The claim, known as the Xxxxx Group Mineral Claims, was explored during the year 2004 and the report prepared by the professional geologist indicated positive result for Gold, Silver, Copper and other minerals deposits. The option is exercisable according to the terms and conditions set here below:
Terms and Conditions:
- Firstline is the sole owner and operator of deposits of Mineral Claims of undetermined commercial value located in the area of Cariboo District, British Columbia with Tenure Numbers 506325,506328,506333,506335,506336 and 506337.
- Georgia is desirous of acquiring the rights to mine claims number 506335, 506336 and 506337. The area size of the three claims is defined on the geological maps registered in the British Columbia Mining Office.
- Consideration. The purchase price for the Xxxxx Claim number 506335, 506336, 506337 is $285,000 (Two Hundred Eighty Five Thousand Canadian Dollars) of which, Georgia has paid to Firstline the sum of $35,000 (Thirty Five Thousand Canadian Dollars) as consideration for the three claims. The remainder balance of $250,000 will be paid in two installments as follow: (i) $125,000 is payable on June 30, 2007. (ii) $125,000 is payable on June 2008.
- Georgia is to start exploration program on the three minerals as soon as it becomes a trading company on a United States national market and will have one year from the date it becomes a publicly trading company to complete its exploration program on the three claims.
- Firstline will have the option to call back its three mineral claims if Georgia defaulted as to the conditions mentioned in 3 and 4 above.
- Firstline will provide Georgia with the Maps for the three claims, Geological report and laboratory test results that were conducted in the year 2004
IN WITNESS WHEREOF the parties hereto have executed this agreement this 30 day of July 2005.
GEORGIA INTERNATIONAL MINING CORPORATION
Per:__________Mark Hague (signed)______________________
Authorized Signatory
FIRSTLINE ENVIRONMENTAL SOLUTIONS INC.
Per:_____Evan Xxxxx (signed)____________________________
Authorized Signatory
