ADDENDUM TO OPTION AGREEMENT AMENDMENT DATED MARCH 11, 2004
SUMMER PROPERTY
THIS ADDENDUM is made effective as of the 10th day of June, 2005
And
Cadre Capital the optionor
WHEREAS:
1) | This addendum does not supercede or override any previous addendum unless specifically stated herein. |
2) | Due to: |
| (a) | Rio Minerals Limited's unavailability to perform the exploration work program as previously scheduled by June 30, 2005; |
| (b) | The ongoing attempt of Enwin to obtain its Registration Statement "effective" status with the U.S. Securities and Exchange Commission regarding its filing of the SB-2 Registration Statement; and |
| (c) | as a consequence of the ongoing attempt to obtain its “effective” status, Enwin’s attempt to raise the necessary capital a timely manner which has caused Enwin to amend the Option Agreement Amendment dated March 11, 2004; and |
| (d) | The upcoming inclement weather conditions in the region of South Central British Columbia, Canada; |
Pursuant to second section of the Summer Property Option Agreement Amendment dated March 11, 2004, Enwin was required to incur the following exploration expenditures:
Enwin must conduct an exploration work on the property totaling no less than $25,000 used by June 30, 2005; |
Enwin must conduct an exploration work on the property totaling no less than $75,000 used by June 30, 2006; |
Enwin must conduct an exploration work on the property totaling no less than $250,000 used by June 30, 2007. |
NOW, THEREFORE BE IT RESOLVED,
Second section of the Summer Property Option Agreement Amendment dated March 11, 2004, is hereby amended in the following manner:
Enwin must conduct an exploration work on the property totaling no less than $25,000 used by April 30, 2006; |
Enwin must conduct an exploration work on the property totaling no less than $75,000 used by April 30, 2007; |
Enwin must conduct an exploration work on the property totaling no less than $250,000 used by April 30, 2008. |
IN WITNESS WHEREOF, this Addendum to the Option Agreement has been executed by the parties hereto as of the day and year first above written.
ENWIN RESOURCES, INC. | | CADRE CAPITAL INC. |
By: Michael Bebek, President, Director | | Andrew Molnar, Owner |