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Abstract
The definitive agreements for the sale of surface rights to the Leadbetter Extension Property to Dianor and immediate suspension and termination of the Excavation Contract were signed on November 28, 2008. They provide that Dianor is required to pay Mr. [Joseph Leadbetter] and persons associated with him a total of $5 million in cash under a payment schedule which started on January 31, 2009 and which runs until November 30, 2012. To date, Dianor has made payments totalling $2,525,000. The Excavation Contract will be automatically terminated when Dianor has completed the payments. The surface rights to the Leadbetter Extension Property are registered in Dianor's name and Dianor has granted a mortgage over the surface rights to Mr. Leadbetter and persons associated with him as security for payments due under the agreement.