LaredoResourcesCorp.
300JamesonHouse,838WestHastingsStreet,Vancouver, BCCanadaV6COA6Phone:604669-9000
November2,2012
Via Email and Mail
Magna Management Ltd.
#300, 838 West Hastings Street
Vancouver, V6COA6
Attention: CarolinSchella
Re: Purchaseof Rights
DearMs. Schella
This isto confirm that the parties Laredo Resources Corporation, andMagna Management Ltd. hereby agree thatMagna Management Ltd. will from this date grantto Laredo Resources Corporationthe exclusive rights for a periodof {60) sixty daysto negotiate for the purchaseof the rights that Magna Management Ltd. has in the property know as Pony Mountain Gold, located in the Mineral Hills District(commonly called the Pony District)in southwestern Montana, comprisingofapproximately 4000 acres. ThatLaredo ResourcesCorporation willin the interim have access to all the documentationand information respecting title, geology and any other necessary due diligence. It is anticipated that this transaction is for the purchase of any rights that Magna ManagementLtd. has in the property. It is also anticipated Laredo Resources Corporation may transfer thoserights toa U.S wholly owned subsidiary, and will involve apart share andcash transaction.
Laredo Resources Corporation | Magna Management Ltd. |
/s/ Robert Gardner | /s/ Carolin Schella |
President | President |
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