Magnus International Resources, Inc. TERM SHEETMagnus International Resources, Inc. • April 5th, 2006 • Metal mining
This Term Sheet will serve as an agreement in principle of the terms upon which Magnus International Resources, Inc (“Magnus”) will acquire an option to purchase the equivalent of 30% of all mining, extraction, processing, mineral sales rights and all other rights to exploit the mineral property (“Property”) described in Schedule “A” hereto by the receipt of 30% of the fully diluted equity capital of a BVI company (“BVI Co.”) to be established by Sinoglobe Worldwide Limited (“Sinoglobe” or the “Company”). This Term Sheet is a binding commitment. The terms and conditions set forth herein are based on limited information provided by the Company and are subject to change pending the completion of due diligence by Magnus.
