<HTML> <HEAD> <TITLE>Deed of Assumption-Ramu</TITLE> </HEAD> <TABLE CELLSPACING=0 BORDER=0 CELLPADDING=1 WIDTH=396> <TR><TD VALIGN="BOTTOM" HEIGHT=253> <P><B><FONT FACE="Arial Narrow" SIZE=6> </P> <P><A NAME="_Toc430052694"><A NAME="_Toc430053868"><A NAME="_Toc430934547"><A NAME="_Toc463671681"><A NAME="_Toc464538890"><A NAME="_Toc465506344"><A NAME="_Toc465819207"><A NAME="_Toc468164142"><A NAME="Title">Deed of Assumption-Ramu Joint Venture</A></B> </FONT></TD> </TR> <TR><TD VALIGN="BOTTOM" HEIGHT=155><P></P></TD> </TR> <TR><TD VALIGN="TOP" HEIGHT=353> <B><P>Ramu Nickel Limited<BR> Nord Australex Nominees (PNG) Limited<BR> Nord Pacific Limited<BR> Orogen Minerals (Ramu) Limited<BR> Orogen Minerals Limited<BR> Eastern Pacific Mines Limited</P> <P> </P> <P> </P> <FONT SIZE=2><P>Allens Arthur Robinson</P> </B><P>Level 11, Pacific Place<BR> Cnr Musgrave Street & Champion Parade<BR> Port Moresby (GDA)<BR> Tel (675) 320-2000<BR> Fax (675) 320-0588</P> </FONT><FONT SIZE=1><P>gday Y010023551 llhy</P> <P>© Copyright Allens Arthur Robinson 1999</FONT></TD> </TR> <FONT FACE="Garamond"><P> </P> <P> </P> <P> </P> </FONT><B><FONT FACE="Arial Narrow" SIZE=4><P ALIGN="CENTER">Table Of Contents</P></B></FONT> <P ALIGN="CENTER"><CENTER><TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=638> <TR><TD WIDTH="14%" VALIGN="TOP"> <P><B><FONT FACE="Arial Narrow" SIZE=4>1.</B></FONT></TD> <TD WIDTH="65%" VALIGN="TOP"> <B><FONT FACE="Arial Narrow" SIZE=4><P>Definitions and Interpretation</B></FONT></TD> <TD WIDTH="21%" VALIGN="TOP"> <B><FONT FACE="Arial Narrow" SIZE=4><P ALIGN="RIGHT">22</B></FONT></TD> </TR> <TR><TD WIDTH="14%" VALIGN="TOP"> <P> </TD> <TD WIDTH="65%" VALIGN="TOP"><DIR> <DIR> <DIR> <DIR> <DIR> <DIR> <DIR> <DIR> <FONT FACE="Arial Narrow"><P>1.1 Definitions</DIR> </DIR> </DIR> </DIR> </DIR> </DIR> </DIR> </DIR> </FONT></TD> <TD WIDTH="21%" VALIGN="TOP"> <FONT FACE="Arial Narrow"><P ALIGN="RIGHT">22</FONT></TD> </TR> <TR><TD WIDTH="14%" VALIGN="TOP"> <P> </TD> <TD WIDTH="65%" VALIGN="TOP"><DIR> <DIR> <DIR> <DIR> <DIR> <DIR> <DIR> <DIR> <FONT FACE="Arial Narrow"><P>1.2 Interpretation</DIR> </DIR> </DIR> </DIR> </DIR> </DIR> </DIR> </DIR> </FONT></TD> <TD WIDTH="21%" VALIGN="TOP"> <FONT FACE="Arial Narrow"><P ALIGN="RIGHT">23</FONT></TD> </TR> <TR><TD WIDTH="14%" VALIGN="TOP"> <B><FONT FACE="Arial Narrow" SIZE=4><P>2.</B></FONT></TD> <TD WIDTH="65%" VALIGN="TOP"> <B><FONT FACE="Arial Narrow" SIZE=4><P>Purchaser's Undertaking</B></FONT></TD> <TD WIDTH="21%" VALIGN="TOP"> <B><FONT FACE="Arial Narrow" SIZE=4><P ALIGN="RIGHT">23</B></FONT></TD> </TR> <TR><TD WIDTH="14%" VALIGN="TOP"> <P> </TD> <TD WIDTH="65%" VALIGN="TOP"> <P> </TD> <TD WIDTH="21%" VALIGN="TOP"> <P> </TD> </TR> <TR><TD WIDTH="14%" VALIGN="TOP"> <B><FONT FACE="Arial Narrow" SIZE=4><P>3.</B></FONT></TD> <TD WIDTH="65%" VALIGN="TOP"> <B><FONT FACE="Arial Narrow" SIZE=4><P>OML Guarantee</B></FONT></TD> <TD WIDTH="21%" VALIGN="TOP"> <B><FONT FACE="Arial Narrow" SIZE=4><P ALIGN="RIGHT">23</B></FONT></TD> </TR> <TR><TD WIDTH="14%" VALIGN="TOP"> <B><FONT FACE="Arial Narrow" SIZE=4><P>4.</B></FONT></TD> <TD WIDTH="65%" VALIGN="TOP"> <B><FONT FACE="Arial Narrow" SIZE=4><P>Vendor's and Nord Pacific's Indemnity</B></FONT></TD> <TD WIDTH="21%" VALIGN="TOP"> <B><FONT FACE="Arial Narrow" SIZE=4><P ALIGN="RIGHT">23</B></FONT></TD> </TR> <TR><TD WIDTH="14%" VALIGN="TOP"> <B><FONT FACE="Arial Narrow" SIZE=4><P>5.</B></FONT></TD> <TD WIDTH="65%" VALIGN="TOP"> <B><FONT FACE="Arial Narrow" SIZE=4><P>Non-Assigning Parties' Consent</B></FONT></TD> <TD WIDTH="21%" VALIGN="TOP"> <B><FONT FACE="Arial Narrow" SIZE=4><P ALIGN="RIGHT">24</B></FONT></TD> </TR> <TR><TD WIDTH="14%" VALIGN="TOP"> <B><FONT FACE="Arial Narrow" SIZE=4><P>6.</B></FONT></TD> <TD WIDTH="65%" VALIGN="TOP"> <B><FONT FACE="Arial Narrow" SIZE=4><P>Non Assigning Parties' Undertaking</B></FONT></TD> <TD WIDTH="21%" VALIGN="TOP"> <B><FONT FACE="Arial Narrow" SIZE=4><P ALIGN="RIGHT">24</B></FONT></TD> </TR> <TR><TD WIDTH="14%" VALIGN="TOP"> <B><FONT FACE="Arial Narrow" SIZE=4><P>7.</B></FONT></TD> <TD WIDTH="65%" VALIGN="TOP"> <B><FONT FACE="Arial Narrow" SIZE=4><P>Further Assurances</B></FONT></TD> <TD WIDTH="21%" VALIGN="TOP"> <B><FONT FACE="Arial Narrow" SIZE=4><P ALIGN="RIGHT">24</B></FONT></TD> </TR> <TR><TD WIDTH="14%" VALIGN="TOP"> <B><FONT FACE="Arial Narrow" SIZE=4><P>8.</B></FONT></TD> <TD WIDTH="65%" VALIGN="TOP"> <B><FONT FACE="Arial Narrow" SIZE=4><P>Condition Precedent</B></FONT></TD> <TD WIDTH="21%" VALIGN="TOP"> <B><FONT FACE="Arial Narrow" SIZE=4><P ALIGN="RIGHT">24</B></FONT></TD> </TR> </CENTER></P> <FONT FACE="Garamond"><P ALIGN="CENTER"> </P> </FONT><B><FONT FACE="Garamond" SIZE=4><P>Deed of Assumption</A></A></A></A></A></A></A></A></P></B></FONT> <TABLE CELLSPACING=0 BORDER=0 CELLPADDING=2 WIDTH=668> <TR><TD WIDTH="10%" VALIGN="BOTTOM"> <P><B><FONT FACE="Arial Narrow">Date</B></FONT></TD> <TD WIDTH="90%" VALIGN="TOP"><DIR> <FONT FACE="Garamond"><P>26 November<A NAME="z_LX036_Year">, 1999</A>.</DIR> </FONT></TD> </TR> <TR><TD WIDTH="10%" VALIGN="BOTTOM" HEIGHT=64> <B><FONT FACE="Arial Narrow"><P>Parties</B></FONT></TD> <TD WIDTH="90%" VALIGN="TOP" HEIGHT=64><P></P></TD> </TR> <TR><TD WIDTH="10%" VALIGN="TOP"> <P> 1.</TD> <TD WIDTH="90%" VALIGN="TOP"><DIR> <B><FONT FACE="Garamond"><P>Ramu Nickel Limited</B> (company number 1-26890), incorporated in Papua New Guinea of Level 9, Pacific Place, corner Musgrave Street and Champion Parade, Port Moresby (<B><I>Ramu Nickel</B></I>);</DIR> </FONT></TD> </TR> <TR><TD WIDTH="10%" VALIGN="TOP"> <P> 2.</TD> <TD WIDTH="90%" VALIGN="TOP"><DIR> <B><FONT FACE="Garamond"><P>Nord Australex Nominees (PNG) Limited</B> (company number 1-7115), incorporated in Papua New Guinea of Level 2, Mogoru Moto Building, Champion Parade, Port Moresby (the <B><I>Vendor</B></I>);</DIR> </FONT></TD> </TR> <TR><TD WIDTH="10%" VALIGN="TOP"> <P> 3.</TD> <TD WIDTH="90%" VALIGN="TOP"><DIR> <B><FONT FACE="Garamond"><P>Nord Pacific Limited</B> incorporated in Canada of Suite 1750, 201 Third Street NW, Albuquerque, New Mexico, 87102 (<B><I>Nord Pacific</B></I>);</DIR> </FONT></TD> </TR> <TR><TD WIDTH="10%" VALIGN="TOP"> <P> 4.</TD> <TD WIDTH="90%" VALIGN="TOP"><DIR> <B><FONT FACE="Garamond"><P>Orogen Minerals (Ramu) Limited</B> (company number 1-36172), incorporated in Papua New Guinea of Level 2, Ela Beach Tower, Musgrave Street, Port Moresby, Papua New Guinea<B> </B>(the <B><I>Purchaser</B></I>);</DIR> </FONT></TD> </TR> <TR><TD WIDTH="10%" VALIGN="TOP"> <P> 5.</TD> <TD WIDTH="90%" VALIGN="TOP"><DIR> <B><FONT FACE="Garamond"><P>Orogen Minerals Limited </B>(company number 2-25619), incorporated in Papua New Guinea of Level 2, Ela Beach Tower, Musgrave Street, Port Moresby (<B><I>OML</B></I>); and</DIR> </FONT></TD> </TR> <TR><TD WIDTH="10%" VALIGN="TOP"> <P> 6.</TD> <TD WIDTH="90%" VALIGN="TOP"><DIR> <B><FONT FACE="Garamond"><P>Eastern Pacific Mines</B> <B>Limited</B> (company number 1-2774), incorporated in Papua New Guinea of C/- PricewaterhouseCoopers, Second Floor, ANZ Haus, Central Avenue, Lae (<B><I>EPM</B></I>).</DIR> </FONT></TD> </TR> <TR><TD VALIGN="BOTTOM" COLSPAN=2> <B><FONT FACE="Arial Narrow"><P>Recitals</B></FONT></TD> </TR> <TR><TD WIDTH="10%" VALIGN="TOP"> <P><A NAME="_Ref445046525">A</TD> <TD WIDTH="90%" VALIGN="TOP"> <FONT FACE="Garamond"><P></A>Ramu Nickel, the Vendor and EPM currently hold the following individual beneficial participating interests in the Ramu Joint Venture:</P> <P ALIGN="RIGHT"><BR> Ramu Nickel 58.5%<BR> The Vendor 31.5%<BR> EPM <U>10.0%<BR> <BR> </U>100.0%</FONT></TD> </TR> <TR><TD WIDTH="10%" VALIGN="TOP"> <P> B</TD> <TD WIDTH="90%" VALIGN="TOP"> <FONT FACE="Garamond"><P>By a sale and purchase agreement between the Vendor, Nord Pacific Limited, the Purchaser, OML, Ramu Nickel and Highlands Pacific Limited dated on or around 22 November 1999 (the <B><I>Sale Agreement</B></I>) , the Vendor agreed to transfer to the Purchaser a 31.5% undivided beneficial participating interest in the Ramu Joint Venture.</FONT></TD> </TR> <TR><TD WIDTH="10%" VALIGN="TOP"> <P> C</TD> <TD WIDTH="90%" VALIGN="TOP"> <FONT FACE="Garamond"><P>The Purchaser is a wholly owned subsidiary of OML.</FONT></TD> </TR> <TR><TD WIDTH="10%" VALIGN="TOP" HEIGHT=1><P></P></TD> <TD WIDTH="90%" VALIGN="TOP" HEIGHT=1><P></P></TD> </TR> <B><FONT FACE="Arial Narrow" SIZE=4><P><A NAME="_Toc428242685"><A NAME="_Toc430052629"><A NAME="_Toc430052695"><A NAME="_Toc430053869">IT IS AGREED</B></FONT> as follows.</P> <B><FONT FACE="Arial Narrow" SIZE=4><P><A NAME="_Toc468253325">1. Definitions and Interpretation</A></A></A></A></A></P> </FONT><FONT FACE="Arial Narrow"><P><A NAME="_Toc428242686"><A NAME="_Toc430052630"><A NAME="_Toc430052696"><A NAME="_Toc430053870"><A NAME="_Toc468253326">1.1 Definitions</A></A></A></A></A></P><DIR> <DIR> </B></FONT><FONT FACE="Garamond"><P>The following definitions apply unless the context requires otherwise.</P> <B><I><P>Completion</B></I> means completion of the sale and purchase of the Sale Interest under the Sale Agreement.</P> <B><I><P>Joint Venture Agreement</B></I> means the agreement dated 17 November 1978 between Carpentaria Exploration Company Pty Ltd, Nord Exploration Company (Pty.) Ltd and Eastern Pacific Mines Pty Ltd, as amended or varied from time to time, whether before or after Completion.</P> <B><I><P>Non-Assigning Parties</B></I> means Ramu Nickel and EPM, and their respective successors and assigns.</P> <B><I><P>Project Agreements</B></I> means the agreements and other documents described in the Schedule to this Deed.</P> <B><I><P>Ramu Joint Venture</B></I> means the joint venture governed by the Joint Venture Agreement.</P> <B><I><P>Sale Agreement</B></I> is defined in Recital B.</P> <B><I><P>Sale Interest</B></I> means the 31.5% undivided beneficial participating interest in the Ramu Joint Venture sold under the Sale Agreement.</P></DIR> </DIR> </FONT><B><FONT FACE="Arial Narrow"><P><A NAME="_Toc428242687"><A NAME="_Toc430052633"><A NAME="_Toc430052697"><A NAME="_Toc430053871"><A NAME="_Toc468253327">1.2 Interpretation</A></A></A></A></A></P><DIR> <DIR> </B></FONT><FONT FACE="Garamond"><P>The same rules of interpretation used in the Joint Venture Agreement apply to this Deed.</P></DIR> </DIR> </FONT><B><FONT FACE="Arial Narrow" SIZE=4><P><A NAME="_Toc428242689"><A NAME="_Toc430052635"><A NAME="_Toc430052699"><A NAME="_Toc430053873"><A NAME="_Toc468253328">2. Purchaser's Undertaking</A></A></A></A></A></P><DIR> <DIR> </B></FONT><FONT FACE="Garamond"><P>The Purchaser covenants with the Vendor and the Non-Assigning Parties that, as from Completion, the Purchaser will be bound by the terms and conditions of the Joint Venture Agreement and the Project Agreements, but only to the extent of the Sale Interest and the other participating interests in the Ramu Joint Venture held by it.</P></DIR> </DIR> </FONT><B><FONT FACE="Arial Narrow" SIZE=4><P><A NAME="_Toc468253329">3. OML Guarantee</A></P><DIR> <DIR> </B></FONT><FONT FACE="Garamond"><P>OML hereby guarantees in favour of each of the Non-Assigning Parties the due and punctual performance by the Purchaser of the Purchaser's obligations under this Deed. The guarantee given by OML under this clause is not affected by any release or discharge of the Purchaser, nor by any amendment to this Deed which is binding on all parties to this Deed.</P></DIR> </DIR> </FONT><B><FONT FACE="Arial Narrow" SIZE=4><P><A NAME="_Toc468253330">4. Vendor's and Nord Pacific's Indemnity</A></P><DIR> <DIR> </B></FONT><P>4.1 Subject to clause 4.2, the Vendor and Nord Pacific hereby jointly and severally indemnify the Purchaser against any claims or demands in connection with the Ramu Joint Venture and its operations in respect of any period prior to Completion, to the extent of the Sale Interest.</P> <P>4.2 The aggregate of all claims and demands that may be made by the Purchaser in respect of the indemnity given in clause 4.1 shall not exceed:</P><DIR> <DIR> <FONT FACE="Garamond"><P>(a) where the amount referred to in clause 3.3(b)(i) of the Sale Agreement has been paid or become payable by the Purchaser to the Vendor under that agreement - that amount;</P> <P>(b) where the amounts referred to in clauses 3.3(b)(i) and 3.3(c)(i) of the Sale Agreement have been paid or become payable by the Purchaser to the Vendor under that agreement - the aggregate of those two amounts; and</P> <P>(c) otherwise - nil.</P></DIR> </DIR> </DIR> </DIR> </FONT><B><FONT FACE="Arial Narrow" SIZE=4><P><A NAME="_Toc468253331">5. Non-Assigning Parties' Consent</A></P><DIR> <DIR> </B></FONT><FONT FACE="Garamond"><P>The Non-Assigning Parties consent to the transfer by the Vendor to the Purchaser of the Sale Interest pursuant to the Sale Agreement and waive any pre-emptive or other rights which they may have had under the Joint Venture Agreement or any Project Agreement in respect of that transfer. This Deed is limited to the assumption contained in it and nothing in it will oblige or require the Non-Assigning Parties to consent to, approve or agree to any further assignments or assumptions.</P></DIR> </DIR> </FONT><B><FONT FACE="Arial Narrow" SIZE=4><P><A NAME="_Toc428242690"><A NAME="_Toc430052636"><A NAME="_Toc430052700"><A NAME="_Toc430053874"><A NAME="_Toc468253332">6. Non Assigning Parties' Undertaking</A></A></A></A></A></P> <DIR> <DIR> </B></FONT><FONT FACE="Garamond"><P>The Non-Assigning Parties release the Vendor from all its obligations under the Joint Venture Agreement and the Project Agreements as from Completion, without prejudice to any rights, duties and obligations accrued or incurred under those agreements by the Vendor before that date. The Non-Assigning Parties accept the Purchaser as a party to the Joint Venture Agreement and the Project Agreements, as and from Completion.</P></DIR> </DIR> </FONT><B><FONT FACE="Arial Narrow" SIZE=4><P><A NAME="_Toc428242691"><A NAME="_Toc430052637"><A NAME="_Toc430052701"><A NAME="_Toc430053875"><A NAME="_Toc468253333">7. Further Assurances</A></A></A></A></A></P><DIR> <DIR> </B></FONT><FONT FACE="Garamond"><P>The parties to this Deed shall execute and do everything necessary or desirable to implement and give full effect to this Deed.</P></DIR> </DIR> </FONT><B><FONT FACE="Arial Narrow" SIZE=4><P><A NAME="_Toc428242692"><A NAME="_Toc430052638"><A NAME="_Toc430052702"><A NAME="_Toc430053876"><A NAME="_Toc468253334">8. Condition Precedent</A></A></A></A></A></P><DIR> <DIR> </B></FONT><FONT FACE="Garamond"><P>This Deed is conditional upon Completion occurring under the Sale Agreement. If the Sale Agreement is terminated before it is completed, this Deed shall have no force or effect.</P></DIR> </DIR> </FONT><B><FONT FACE="Arial Narrow" SIZE=4><P><A NAME="_Toc464538891"><A NAME="_Toc465506345"><A NAME="_Toc465819208"><A NAME="_Toc468164143">Schedule</A></A></A></A></P> <P><A NAME="_Toc464538892"><A NAME="_Toc465506346"><A NAME="_Toc465819209"><A NAME="_Toc468164144">Project Agreements</A></A></A></A></P><DIR> <DIR> </B></FONT><P>1. Lands and Environment Compensation Agreement between Ramu Nickel Limited, Kurumbukari Landowners' Association Incorporated, Coastal Pipeline Landowners' Association Incorporated, Basamuk Landowners' Association Incorporated, and various Block Executives and landholders, which is in the process of execution.</P> <P>2. Draft Memorandum of Agreement between the Independent State of Papua New Guinea, Madang Provincial Government, Ramu Nickel Limited, Kurumbukari Landowners Association, Maigari Pipeline Association, Coastal Pipeline Association, Basamuk Landowners' Association, Bundi Local Level Government, Usino Local Level Government, Astrolabe Bay Local Level Government and the Saidor Local Level Government.</P> <P>3. Draft Mining Development Contract between the Independent State of Papua New Guinea, Ramu Nickel Limited, Nord Australex (PNG) Limited and Eastern Pacific Mines Limited.</P> <P>4. Front End Engineering Design Study dated 13 October 1999 between Ramu Nickel Limited, Kvaerner Process (Australia) Pty Ltd and Baulderstone Hornibrook Pty Ltd.</P></DIR> </DIR> <B><P>EXECUTED</B> as a deed.</P> <TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=391> <TR><TD VALIGN="TOP" HEIGHT=96> <P><B><FONT FACE="Arial Narrow">The Common Seal</B></FONT> of <B><FONT FACE="Arial Narrow">Ramu Nickel Limited</B></FONT> was duly affixed in the presence of:</P> <P>M A Egert</TD> </TR> <TR><TD VALIGN="TOP" HEIGHT=56> <B><FONT FACE="Arial Narrow"><P>Secretary<BR> </B>M A Egert</FONT></TD> </TR> <TR><TD VALIGN="TOP" HEIGHT=56> <B><FONT FACE="Arial Narrow"><P>Print Name<BR> </B>Ian R Holzberger</FONT></TD> </TR> <TR><TD VALIGN="TOP" HEIGHT=56> <B><FONT FACE="Arial Narrow"><P>Director<BR> </B>Ian R Holzberger</FONT></TD> </TR> <TR><TD VALIGN="TOP" HEIGHT=56> <B><FONT FACE="Arial Narrow"><P>Print Name</B></FONT></TD> </TR> <TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=385> <TR><TD VALIGN="TOP" HEIGHT=96> <P><B><FONT FACE="Arial Narrow">The Common Seal</B></FONT> of <B><FONT FACE="Arial Narrow">Nord Australex Nominees (PNG) Limited</B></FONT> was duly affixed in the presence of:</P> <P>Ray W Jenner</TD> </TR> <TR><TD VALIGN="TOP" HEIGHT=56> <B><FONT FACE="Arial Narrow"><P>Director<BR> </B>Ray W Jenner</FONT></TD> </TR> <TR><TD VALIGN="TOP" HEIGHT=56> <B><FONT FACE="Arial Narrow"><P>Print Name<BR> </B>W Pierce Carson</FONT></TD> </TR> <TR><TD VALIGN="TOP" HEIGHT=56> <B><FONT FACE="Arial Narrow"><P>Director<BR> </B>W Pierce Carson</FONT></TD> </TR> <TR><TD VALIGN="TOP" HEIGHT=56> <B><FONT FACE="Arial Narrow"><P>Print Name</B></FONT></TD> </TR> <P> </P> <P> </P> <TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=391> <TR><TD VALIGN="TOP" HEIGHT=96> <P><B><FONT FACE="Arial Narrow">Signed by Nord Pacific Limited </B></FONT>by Pierce Carson, President and Chief Executive Officer, who certifies that he is duly authorised to sign this Deed on behalf of the company:</P> <P>W Pierce Carson</TD> </TR> <TR><TD VALIGN="TOP" HEIGHT=56> <B><FONT FACE="Arial Narrow"><P>President and Chief Executive Officer<BR> </B></FONT>W Pierce Carson</TD> </TR> <TR><TD VALIGN="TOP" HEIGHT=56> <B><FONT FACE="Arial Narrow"><P>Print Name<BR> </B></FONT>Patricia D Solano</TD> </TR> <TR><TD VALIGN="TOP" HEIGHT=56> <B><FONT FACE="Arial Narrow"><P>Witness<BR> </B></FONT>Patricia D Solano</TD> </TR> <TR><TD VALIGN="TOP" HEIGHT=56> <B><FONT FACE="Arial Narrow"><P>Print Name</B></FONT></TD> </TR> <P> </P> <TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=391> <TR><TD VALIGN="TOP" HEIGHT=96> <P><B><FONT FACE="Arial Narrow">Signed by Orogen Minerals (Ramu) Limited</B></FONT> by its attorney under power of attorney dated 12 November 1999 in the presence of:</P> <P>Guy Alexander</TD> </TR> <TR><TD VALIGN="TOP" HEIGHT=56> <B><FONT FACE="Arial Narrow"><P>Signature<BR> </B></FONT>Guy Alexander</TD> </TR> <TR><TD VALIGN="TOP" HEIGHT=56> <B><FONT FACE="Arial Narrow"><P>Print Name<BR> </B></FONT>Joyce Kunjip</TD> </TR> <TR><TD VALIGN="TOP" HEIGHT=56> <B><FONT FACE="Arial Narrow"><P>Witness<BR> </B></FONT>Joyce Kunjip</TD> </TR> <TR><TD VALIGN="TOP" HEIGHT=56> <B><FONT FACE="Arial Narrow"><P>Print Name</B></FONT></TD> </TR> <TR><TD VALIGN="TOP" HEIGHT=96> <B><FONT FACE="Arial Narrow"><P>Signed by Orogen Minerals Limited </B></FONT>by its attorney under power of attorney dated 12 November 1999 in the presence of:</P> <P>Guy Alexander</TD> </TR> <TR><TD VALIGN="TOP" HEIGHT=56> <B><FONT FACE="Arial Narrow"><P>Signature<BR> </B></FONT>Guy Alexander</TD> </TR> <TR><TD VALIGN="TOP" HEIGHT=56> <B><FONT FACE="Arial Narrow"><P>Print Name<BR> </B></FONT>Joyce Kunjip</TD> </TR> <TR><TD VALIGN="TOP" HEIGHT=56> <B><FONT FACE="Arial Narrow"><P>Witness<BR> </B></FONT>Joyce Kunjip</TD> </TR> <TR><TD VALIGN="TOP" HEIGHT=56> <B><FONT FACE="Arial Narrow"><P>Print Name</B></FONT></TD> </TR> <P> </P> <TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=391> <TR><TD VALIGN="TOP" HEIGHT=96> <P><B><FONT FACE="Arial Narrow">The Common Seal</B></FONT> of <B><FONT FACE="Arial Narrow">Eastern Pacific Mines Limited</B></FONT> was duly affixed in the presence of:</TD> </TR> <TR><TD VALIGN="TOP" HEIGHT=56> <B><FONT FACE="Arial Narrow"><P>Director/Secretary</B></FONT></TD> </TR> <TR><TD VALIGN="TOP" HEIGHT=56> <B><FONT FACE="Arial Narrow"><P>Print Name</B></FONT></TD> </TR> <TR><TD VALIGN="TOP" HEIGHT=56> <B><FONT FACE="Arial Narrow"><P>Director</B></FONT></TD> </TR> <TR><TD VALIGN="TOP" HEIGHT=56> <B><FONT FACE="Arial Narrow"><P>Print Name</B></FONT></TD> </TR> <P> </P> </HTML>