GEOCOM RESOURCES INC.Exploration Venture Agreement • March 21st, 2006 • Geocom Resources Inc • Drilling oil & gas wells
Contract Type FiledMarch 21st, 2006 Company IndustryThis letter agreement sets out the principal terms pursuant to which Geocom Resources Inc. is prepared to enter into a definitive agreement (the "Formal Agreement") with Kinross Gold Corporation to establish an exploration venture in respect of Region X in southern Chile with an option to participate in subsequent acquisitions of mining rights in Region X (the "Region X Exploration Venture"). Although this letter agreement is binding on the parties, it is intended that the terms set forth herein will provide the basis upon which the parties will negotiate in good faith the Formal Agreement, which Formal Agreement will supersede this letter agreement. The following are the principal terms of the Region X Exploration Venture: