Found the AGX reference• On July 3, 2002, the Issuer entered into an option agreement with Consolidated AGX to purchase a
20% undivided interest in the Mato Grosso Project, a diamond project located in the Amazon craton
in Brazil which Consolidated AGX holds the right to acquire a 60% working interest in. The Issuer’s
20% interest will be subject to a 10% carried interest in favour of the original optionor of the project,
such that 1/5 of the carried interest will be borne by the Issuer, with the remaining 4/5 borne by
Consolidated AGX. In order to complete this acquisition, the Issuer paid $600,000 to the vendor to
finance exploration. The Issuer will also be obligated to pay 25% of any further exploration
expenditures on the property.
4. Particulars of Non-Natural Resource Assets