AMENDMENT NO. 1 TO ASSIGNMENT OF SPECIFIC MINERAL RIGHTS
AMENDMENT
NO. 1 TO ASSIGNMENT OF SPECIFIC MINERAL RIGHTS
This
AMENDMENT NO. 1 TO ASSIGNMENT OF SPECIFIC
MINERAL
RIGHTS is entered
into as of February __, 2006 (this “Amendment”)
between American Graphite Holdings, a
sole
proprietorship (“AGII”),
and
Novastar Resources Ltd., a Nevada corporation (“Novastar”).
WHEREAS,
AGH and Novastar entered into an Assignment of Specific Mineral Rights
dated
as
of September 14, 2005 (the “Agreement”);
and
WHEREAS,
AGH and Novastar desire to clarify the remedies available to AGH 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.
AGH and
Novastar agree, notwithstanding any other provision in the Agreement,
that the sole remedy available to AGH for a breach of the Agreement by Novastar
shall
be
the termination of the Agreement by AGH and that no further relief or recourse,
whether at
law,
in equity, or otherwise, will be available to AGH, Without limiting the
generality of the foregoing,
notwithstanding any breach by Novastar of the Agreement, whether occurring
heretofore or hereafter, AGH 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.
[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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AMERICAN
GRAPHITE HOLDINGS
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| By: |  |
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Name:
XXXXXXX
X. XXXXXXXX, S.
Title:
OWNER
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| By: |  |
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Name:
XXXX
XXXXXXXX
Title:
SECRETARY
NOVASTAR
RESOURCES Ltd. 3/5/06
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