EXHIBIT 10.3 OPTION EXTENSION AGREEMENTOption Extension Agreement • October 1st, 2003 • Waterloo Ventures Inc • Gold and silver ores
Pursuant to an option agreement dated as of August 21, 2002, Klondike Bay Resources ("KB") granted to Waterloo Ventures, Inc., an option to acquire an interest in the Property (the "Agreement"). This letter confirms that in and for the sum of $1000 U.S.D., the receipt of which is hereby acknowledged, KB has agreed to amend the terms of the Agreement by deleting the reference to "August 31, 2003" in section 2.1(B) and inserting "August 31, 2004" and further by deleting the reference to "August 31, 2004" in section 2.1(C) and inserting "August 31, 2005", and further by deleting the reference to "August 31, 2003" in section 2.1(C) and inserting "August 31, 2004". The remainder of the Agreement shall remain in full force and effect.
