Agreement, dated as of June 24, 2013, by and between Hanover Holdings I, LLC and American Petro-Hunter Inc

Subject to paragraph 2 below, the Company and Investor hereby mutually terminate the Purchase Agreement and the Registration Rights Agreement, and all of the Company’s and the Investor’s respective future covenants, agreements, obligations and commitments thereunder, effective as of June 24, 2013.

The Company and the Investor acknowledge that, notwithstanding the termination of the Purchase Agreement and the Registration Rights Agreement and the respective obligations of the parties thereunder, (i) all of the Commitment Shares were fully earned by the Investor immediately upon execution of the Purchase Agreement on March 22, 2013 under the terms thereof, irrespective of whether any shares of Common Stock were ever sold by the Company to the Investor under the Purchase Agreement or whether the Purchase Agreement were ever terminated, (ii) the Investor is entitled to retain the Commitment Shares issued to the Investor on March 6, 2013, (iii) the Investor is under no obligation to return the Commitment Shares to the Company under the terms of the Purchase Agreement and the Registration Rights Agreement or otherwise, and (iv) this Agreement has no effect on the Investor’s right to retain the Commitment Shares.

This Agreement, the rights of the parties under and in connection herewith, and all actions arising in whole or part under or in connection herewith will be governed by and construed in accordance with the laws of the State of New York. The parties hereby irrevocably and unconditionally submit to the jurisdiction of any federal or state court located within the borough of Manhattan of the City, County and State of New York over any dispute for purposes of any action, suit or proceeding arising out of or relating to this Agreement. Each party irrevocably waives any objection it may have to the venue of any action, suit or proceeding brought in such court or to the convenience of the forum. No modification or waiver of any provision hereof shall be enforceable unless approved by the Investor in writing. No failure or delay in the exercise of any power, right or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or privilege preclude other or further exercise thereof or of any other right, power or privilege. This Agreement may be executed in one or more counterparts, and by the different parties hereto in separate counterparts, each of which when executed shall be deemed to be an original but all of which taken together shall constitute one and the same agreement. Each party shall do and perform, or cause to be done and performed, all such further acts and things, and shall execute and deliver all such other agreements, certificates, instruments and documents, as the other party may reasonably request in order to carry out the intent and accomplish the purposes of this Agreement.

Any notice, demand, request, waiver or other communication required or permitted to be given hereunder shall be in writing and shall be effective (a) upon hand delivery or facsimile (with facsimile machine confirmation of delivery received) at the address or number designated below (if delivered on a business day during normal business hours where such notice is to be received), or the first business day following such delivery (if delivered other than on a business day during normal business hours where such notice is to be received) or (b) on the second business day following the date of mailing by express courier service, fully prepaid, addressed to such address, or upon actual receipt of such mailing, whichever shall first occur. The address for such communications shall be:

If to the Company:

American Petro-Hunter Inc.
250 N. Rock Road, Suite 365
Wichita, Kansas 67206
Telephone Number: (316) 201-1853
Attention: Robert B. McIntosh

If to the Investor: