Party B: No.209 Geological Brigade of Yunnan Provincial Nuclear Industry(hereinafter referred to as "Party B").Magnus International Resources, Inc. • November 8th, 2005 • Metal mining • Yunnan
Whereas the share of Kangding Kangma Mining Ltd. ("Kangding Kangma") and its mining rights for the Xintaizi Gold Mine in Kangding, Sichuan (the "Mining License") has not yet been transferred to Party A, Party B is willing to compensate Party A for the relevant losses to date in the hope of future cooperation. The two parties have fully consulted with each other through negotiations and concluded the following Agreement on Compensation for Transfer of Mining Right:
Contract for Transfer of Mining LicensesMagnus International Resources, Inc. • November 8th, 2005 • Metal mining
In accordance with the Law of Mineral Resources of the People’s Republic of China, Management Method for Transferring Exploration Licenses and Mining Licenses and the Law of Contract of the People’s Republic of China, after both sides engaged in friendly negotiation, this Contract is hereby signed for transferring a Mining License in the Mangshi gold mining area of Santaishan Village, Luxi City of Yunnan Province(“Mangshi Gold Mining License”) from 209 Geo-brigade of Yunnan Provincial Nuclear Industry, Mangshi Gold Mine(“Party A”) to Yunnan Western Mining Ltd.(“Party B”). with the Information listedas follows:
