| Gold Anomaly Ltd. Interest: 60% |
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The Sao Chico gold project, operated by GOA’s wholly owned subsidiary, Gold Aura do Brasil Mineracao Ltda (GOAB), |
| Kenai Resources Ltd. Option on interest: 40% |
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The Option Agreement provides Kenai with the right to acquire initially 50% and thereafter in stages to 75% and 100% of the Sao Chico gold project. The project is subject to an existing 40% net profit sharing agreement (“NPI”) and a royalty equivalent to US$8.80 per ounce of gold production, payable to the owner (Waldimiro Martins – “WM”) of the mining rights. |