(e) Poundmaker Option Agreement

In February 2008, the Company signed a five year option agreement (the “Agreement”) to earn up to

a 100% interest in a portion of Wildcat Exploration Ltd.’s (“Wildcat”) Poundmaker property. The

Agreement was amended on March 1, 2009 and extended for an additional year to March 2014. The

Agreement may be terminated by the Company at any time, without penalty.

Option consideration is comprised of cash plus common shares of the Company payable as follows:

$25,000 cash paid upon execution of the Agreement and 500,000 common shares of the Company

valued at $95,000 (see note 5(b)(ii));

$50,000 cash paid in June 2008; and

On the March 1, 2009 amendment date and each of the next five anniversary dates thereafter

(March 1, 2010 through to March 1, 2014), at Wildcat’s option:

i) $100,000 cash or

ii) $50,000 cash plus up to 2 million common shares of the Company having a market value at

the time of issuance of $100,000 (total value of $150,000).

The Company made a $100,000 cash payment on the amendment date.

In addition, the Company has agreed to incur $5 million of exploration expenditures during the term

of the amended Agreement as follows:

$500,000 prior to March 1, 2010 of which approximately $391,820 has been incurred as at

December 31, 2009;

An additional $1,500,000 prior to March 1, 2011; and

An additional $1,000,000 in each year prior to March 1, 2012, 2013 and 2014.