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APR. 4.2006 11:53AM M <br />• Consolidated Global Minerals Ltd. <br />#1280 - 625 Howe Suvd <br />Vancouver, A.C. V6C 2T6 <br />December ? 2002 <br />Mi Vida Enterprises; <br />Gold Hill Mines, Inc.; <br />()old Reef Mining Company; and <br />Sou ern Cross Pnospeoting Company <br />P.O. Box 1523 <br />Longmont, Colorado 80502 <br />U.S.A. <br />At(Wooot Mark Steen <br />Dear Mr. Steen: <br />Re: Consolidated Global h9seralt; Ltd. ("Global"), h i Vida Enterprises, <br />Gold MR Mimes, Iree., Geld Res WflnI ng Cooky and Southern Crows <br />Prospecting Company ( v* called fie "Property Owners") and <br />the Ptvpertles liaavrn as thta Gold 1Efllt Mine Protoertiea <br />This will confirm the agreement between Global and the Property Owners concerning the <br />• Properties (ax defined herein). <br />I . I1 MIRPRTTATION <br />1.1 For the purposes of this Agreement: <br />(a) "Agreement" means this agreement between Olobal and the Property Owners as <br />it may from time to time be amended; "hereof", "herein", "hereto", hereunder" <br />and similar exprow s mean and refer to this Agreement ac a whole and not to <br />any particular atticlc? section or subsection; 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 party debt obligations; <br />(c) "Costs" means all items of outlay and expem whatsoever, direct or indirect, <br />with respect to Operations; <br />(d) "Development" means all preparation for the removal and recovery of Produetr., <br />including the restoration, installation or expansion of a mill or any other <br />irnprovemem to be used for the mining, handlhsg, milling, processing or other <br />beneficiation of Products; <br />•