AGREEMENT TO ACQUIRE 50% INTEREST OF HA MAC PROPERTY NEAR VERNON BCAgreement to Acquire Interest • April 15th, 2008 • Newport Gold, Inc. • Gold and silver ores
Newport Gold Inc. will pay to TMBW 1.8 million Reg S Shares for a 50 % interest in TMBW's 100% owned 331.771 Ha Mac Property, situated near Vernon BC. and agree to undertake all TMBW's obligations to the original vendors including cash payments royalties, work commitments and stock issuances (NWPG stock) as per the underlying agreement between the original vendors and TMBW. A letter of intent between TMBW and the original vendors was signed Aug, 23, 2006. Newport Gold Inc. also has a first right of refusal on the remaining 50 % interest. Please refer to the underlying agreement for specific details of the foregoing.
