Amendment to an Agreement made as of the 14th day of September, 2012 AMONG: The Shareholders of Beattie Gold Mines Ltd., all of 2147 Portage Avenue, Winnipeg, Manitoba, R3J OL4 (the "Optionors") AND Clifton Star Resources Inc. having its registered...Option Agreement • October 25th, 2012 • Clifton Star Resources Inc. • Metal mining • Manitoba
WHEREAS the Parties hereto entered into an Agreement dated November 30th, 2009 (hereinafter referred to as the "Original Agreement") which enabled the Optionee to acquire options to purchase all of the issued and outstanding shares in Beattie, and which Original Agreement is attached as Schedule A.
BETWEEN:Agreement • October 25th, 2012 • Clifton Star Resources Inc. • Metal mining
WHEREAS an Agreement was made between the Royalty Holders, Clifton Star, and Duquesne Gold Mines Ltd. (hereinafter called "Duquesne") as of the 20th of September, 2006, amended the 14th day of May, 2007, and amended again on the 11th day of June, 2007 (hereinafter called "the Duquesne Agreement"), which established a 3% NSR payable to the Royalty Holders. Under the terms of the Duquesne Agreement, if the Property that was the subject of the Duquesne Agreement (a listing of the Property is attached hereto and marked as Schedule A) did not have a pre-feasibility study done on it by June 20th, 2011, Clifton Star was to pay $1,000,000 to the Royalty Holders on account of 1/2% of the NSR. In addition, there were further benchmarks set out in the Duquesne Agreement by which time if certain things were not done, the NSR would continue to be paid out at the rate of $1,000,000 per year until the NSR has been fully paid in the amount of $6,000,000. The applicable clauses 10, 11 and 12 are found
ASSET PURCHASE AGREEMENT BETWEEN CLIFTON STAR RESOURCES INC. – and – MINES D’OR DUQUESNE GOLD MINES INC. – and – XMET INC. SEPTEMBER 19, 2012Asset Purchase Agreement • October 25th, 2012 • Clifton Star Resources Inc. • Metal mining • Ontario
