EXHIBIT 10.2
MINERAL PROPERTY AMENDING AGREEMENT
THIS AGREEMENT dated for reference November 5,2002.
BETWEEN:
XXXXXX XXXXXX XXXXXXXX, Seven Xxxx
Xxxxx, X.X. Xxx 00000, Xxxxx Xxxxxx; and
(the "Optionor")
OF THE FIRST PART
AND:
BLUESTONE VENTURES, INC., a body
corporate, duly incorporated under the
laws of the State of Nevada and having
an office at 0xx Xxxxx, 0000 Xxxxx
Xxxxxx, Xxxxxxxxx, Xxxxxxx Xxxxxxxx, X0X
0X0;
(the "Optionee")
OF THE SECOND PART
W H E R E A S :
A. The Optionor and The Optionee entered into a
Mineral Property Option Agreement dated December 15, 2000
(the "Agreement"), whereby the Optionor granted to the
Optionee the exclusive right to acquire an undivided 100%
undivided right, title and interest in and to the Nag Lake
property located in the Thunder bay Mining District,
Ontario, Canada (Claim no. TB1195902) (the "Claims");
B. The Optionor and the Optionee both desire that the
Agreement be amended as set forth below;
NOW THEREFORE IN CONSIDERATION of the payment of
ONE THOUSAND DOLLARS ($1,000.00) by the Optionee to the
Optionor, the receipt and sufficiency of which is hereby
acknowledged, and other good and valuable consideration,
including the premises, mutual covenants and agreements
herein contained, the parties hereto agree to amend the
Agreement as follows:
1. Subparagraphs 5.1 (b) and (c) be and are hereby
deleted in their entirety and replaced with the following:
Cash Payments
(b) Pay to the Optionor a total of $250,000 in the
following manner:
(i) $25,000 upon execution of this
Agreement (the Optionor acknowledges receipt
of this payment);
(ii) $25,000 by June 1, 2003;
(iii) $100,000 by June 1, 2004;
(iv) $100,000 on June 1, 2005;
Expenditure Commitments
(c) Provide funding of minimum cumulative
expenditures for exploration and development work
on the Claims of at least $100,000 under the
direction of a qualified geologist or project
engineer in the following manner:
(i) $10,000 of expenditures to be
incurred, or caused to be incurred, by the
Optionee on the Claims by August 30, 2003;
(ii) No less than a further $30,000 of
expenditures to be incurred, or caused to be
incurred, by the Optionee on the Claims by
August 30, 2004; and
(iii) No less than a further $60,000
of expenditures to be incurred, or caused to
be incurred, by the Optionee on the Claims by
August 30, 2005."
2. All of the terms and conditions of the Agreement,
except as amended or modified hereby, remain in full
force and effect.
IN WITNESS WHEREOF this Agreement has been
executed as of the day and year first above written.
BLUESTONE VENTURES,INC.
/s/ Xxxxxx Xxxxxx Anderson___________________________ /s/ Xxxxxx Xxxx
Xxxxxx Xxxxxx Xxxxxxxx ____________________________ Authorized Signatory