ALMADEN MINERALS LTD. of #1103 – 750 West Pender St. Vancouver, B.C. V6C 2T8 LETTER AGREEMENTLetter Agreement • March 2nd, 2007 • Almaden Minerals LTD • Metal mining • British Columbia
This Letter Agreement sets forth an offer which, when accepted by you, shall form a binding agreement between us. In this letter the Optionor shall mean Almaden Minerals Ltd. (“Almaden”) and its subsidiary Minera Zapata S.A. de C.V. (“Zapata”). The Optionee shall mean Apex Silver Mines Limited (“Apex”) and its subsidiary Minera de Cordilleras S de R.L. de C.V. (“Cordilleras”). It is contemplated that the terms hereof may, at the option of either party be incorporated into a more formal option agreement failing which, for any reason, this Letter Agreement shall prevail.
