AFRASIA MINERAL FIELDS INC. V.AFS

Proposed Transactions

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1.11 Proposed Transactions

On January 25, 2010, the Company entered into a Letter of Intent with 0830438 BC Ltd. (the “Seller”) to

purchase substantially all of the assets of the Seller for the build out of a copper mining operation located

near Tucson, Arizona. The Company will issue an aggregate of 50,000,000 common shares of the Company

at a deemed price of
.25 per common shares for total value of $12,500,000 in addition to cash

consideration of US$300,000 of which US$75,000 is due upon signing of this letter of intent and the balance

upon regulatory and shareholder approval.