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• APR. 4.2006 11:53AM ? <br />• Consolidated Global Minerals Ltd. <br /># 1280.625 Howe St and <br />Vancouver, 13.C. V6C 2T6 <br />December jjL 2002 <br />Mi Vida Enterprises; <br />Gold Hill Mines, Inc.; <br />Gold Reef Minima Company, and <br />So;6etn Cross Prospecting Company <br />P.O. Box 1523 <br />Loagnimi, Colorado 80502 <br />U.S.A. <br />Al thmi Mark Steen <br />Dear Mr. Steen: <br />Rc: Consolidated Global Womb JAd. ("Global"), Mi Vida Enterprises, <br />Gold BITE Mines, Imo., Gold Red Mining Coarpwaty and Southern Cross <br />Prospectlng Company (eoffeedv* mil the "Property Owners") and <br />the Pt,?perdes pawn as floc Gold flit ll9iae le'roaaerties <br />This will confirm the agreement between Global and the Property Owners concerning the <br />• Properties (m defined herein). <br />1. li MRPRFTATION <br />l . l For the purposes of this Agreement. <br />(a) "Agreement" mesas this agreement between Global and the Property Owners as <br />it may fim time to tinne be amended; "hereof", "herein", "hereto", hereunder" <br />and similar expressions mean and refer to this Agreement ac a whole and not to <br />any particular article, section or milk"otion; and "article", "section" or <br />."subsection" means and refers to the specified article, section or subsection of <br />this Agreement; <br />(b) "Available Cash Flow" means cash flow after provision for all operating and <br />non-operating Costa including without limitation, all third patty debt obligations; <br />(c) "Costs" means all items of outlay and expense whatsoever, direct or indirect, <br />with respect to Operations; <br />(d) "Development" means all preparation for the removal and recovery of Productr., <br />including the restoration, installation or expansion of a mill or any other <br />improvemotrta to be used for the mining, handling, milling, processing or other <br />benefrciation of Products; <br />• <br />. ,, 'XHI