EXHIBIT 10.3
Option to Purchase Mineral Claims Agreement
BETWEEN:
FIRSTLINE ENVIRONMENTAL SOLUTIONS INC , A British Columbia
Incorporated Company in the Dominion of Canada, with its
registered Xxxxxx xx xxxxx 000-00000 Xxxxxxx Xxxxxxxx Xxxxxxx XX
X0X 0X0
(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:
1. Firstline is the sole owner and operator of deposits of Mineral Claims
of undetermined commercial value located in the area of Caribou
District, BritishColumbia with Tenure Numbers
506325,506328,506333,506335,506336 and 506337.
2. 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.
3. 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, 2006. (ii)
$125,000 is payable on June 2007.
4. 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.
5. 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.
6. 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: /s/ Xxxxxx Xxxxxx
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Authorized Signatory
FIRSTLINE ENVIRONMENTAL SOLUTIONS INC.
Per: /s/ Xxxx Xxxxx
-------------------------------------
Authorized Signatory
