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 October 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 Xxxxxxxx
___________________________ /s/ Xxxxxx Xxxx
Xxxxxx Xxxxxx Xxxxxxxx Xxxxxx Xxxx
Authorized Signatory
