AGREEMENT
AGREEMENT
THIS AGREEMENT is dated for reference the 5th day of March, 2002.
BETWEEN:
LINUXWIZARDRY SYSTEMS,
INC.
#000, 0000 Xxxxxx Xxx
Xxxxxxxx, XX X0X 0X0
("Linux")
OF THE FIRST PART
AND:
XXXXX RESOURCES CORP.
#000,
0000 Xxxxxx Xxx
Xxxxxxxx, XX X0X 0X0
("Xxxxx")
OF THE SECOND PART
WHEREAS:
| A. |
Linux owns a 50% interest in 30 claims in Fairbanks, Alaska called the Fish Creek Claims; |
| B. |
Xxxxx agrees to joint venture the Fish Creek Claims; |
NOW THEREFORE in consideration of the mutual covenants and conditions set forth herein, the parties hereto agree as follows:
| 1. |
200,000 treasury shares of Xxxxx upon signing and approval by the regulatory bodies. |
| 2. |
Linux will hold a 5% net royalty interest until $200,000 U.S. has been received or Xxxxx pays a payment of $500,000 U.S. within one year after production of the Fish Creek Claims. |
| 3. |
Xxxxx agrees to expend $500,000 U.S. within three years from the date of this Agreement. |
IN WITNESS WHEREOF the parties hereto have executed this Agreement as of the day and year first above written.
| LINUXWIZARDRY SYSTEMS, INC. | XXXXX RESOURCES CORP. | |
| Signature | Signature | |
| Print Name | Print Name | |
| Title | Title |
