MagnaManagementLtd.2153-349WGeorgiaSt.Vancouver,BCV6B3V3Tel604669-9000Fax604899-8827
Execution version
MEMORANDUM OFUNDERSTANDING("MOU")
Between:
Moen Excavating, LLC("Moen Excavating")
And
MagnaManagement Ltd. and/or Nominee ("Magna")
Thatitisagreedthat Moen Excavating shall provide certain services, as described herein, on the dumps locatedon that certainproperty in the areaof Pony,Montana which consists of patented and unpatented mining claimsowned by Marlene Moen,Gene Nellis, Hartmut Baitisand lnga Baitis (the "Property") in which Magna has acquired certain rights.
Magna will pay MoenExcavating the sumof $10,000 USD a monthbeginning upon execution ofthis MOU, to take/prepare samples from the dumps located ontheProperty,coordinate the sampling with laboratories for the testingof samplesandconduct negotiations anddiscussions withGolden Sunlight-Barrickmill for processing ofthe dumpmaterial atthe mill. Thereafter, all surfacework that maybe required on the Property and hauling ofthedump material to the mill shallbe provided by Moen Excavating pursuant toa separate agreement with Magna.
That this Memorandumof Understanding willbe formalized at the optionof the parties with their respective lawyers.
Signed:
| Moen Excavating, LLC. | ||
/s/ Roy Mathew Moen by: Roy Mathew Moen its Manager | May 4, 2012 Date Signed | |
| And | ||
/s/ Magna Management Ltd. Magna Management Ltd. and/or Associate | May 4, 2012 Date Signed |
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