Amendment Agreement to Assignment Agreement among Nanominerals Corp., Ireland Inc. and Lorrie Archibald, dated for reference as of August 8, 2007

AMENDMENT AGREEMENT
TO ASSIGNMENT AGREEMENT

THIS AMENDMENT AGREEMENT (the "Amendment Agreement") is dated for reference as of the 8th day of August, 2007.

BETWEEN:

NANOMINERALS CORP., a company duly formed under the laws
of Nevada, with its registered office at 1905 Southeastern Ave.,
Las Vegas, NV

(hereinafter called "Nano")

OF THE FIRST PART

AND:

IRELAND INC., a corporation duly formed under the laws of
Nevada, with its principal office at 810 Peace Portal Drive, Suite
201, Blaine, WA 98230

(hereinafter called the "Company")

OF THE SECOND PART

AND:

LORRIE ARCHIBALD, of 1745 Larkhall Crescent, North
Vancouver, British Columbia, Canada V7H 2Z3

(hereinafter called the "Principal Shareholder")

OF THE THIRD PART

WHEREAS:

A. Nano, the Company and the Principal Shareholder entered into an Assignment Agreement dated for reference as of March 29, 2007 (the “Original Agreement”);

B. Subsequent to the entry by the parties into the Original Agreement, the Company completed a 4-for-1 split of its common stock (the “Company Stock Split”);

C. The parties wish to amend the Original Agreement to account for the Company Stock Split and to make such other amendments as are set out herein,

For good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, THE PARTIES HEREBY AGREE AS FOLLOWS:

1. Unless otherwise defined in this Amendment Agreement, all capitalized terms shall have the meanings assigned to them in the Original Agreement.

2. Paragraph 1.1 of the Original Agreement is amended by deleting subparagraphs (b), (j), (k) and (o) in their entirety and replacing them with the following:

3. Paragraphs 2.3, 2.4, 2.5, 2.7, 4.4 and 4.17 of the Original Agreement are amended by deleting such paragraphs in their entirety and replacing them with the following:

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4. Subparagraph 5.1(e) of the Original Agreement is deleted in it its entirety.

5. Schedule “B” of the Original Agreement is amended by deleting it in its entirety and replacing it with the Schedule “B” attached to this Amendment Agreement.

6. Schedule “D” of the Original Agreement is amended by deleting it in its entirety and replacing it with the Schedule “D” attached to this Amendment Agreement.

7. Paragraphs 8.1 to 8.7 of the Original Agreement are incorporated by reference into this Amendment Agreement and are made a part hereof.

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8. This Amendment Agreement may be executed in one or more counterparts, each of which so executed shall constitute an original and all of which together shall constitute one and the same agreement.

IN WITNESS WHEREOF the parties hereto have executed this Amendment Agreement effective as of the day and year first above written.

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SCHEDULE B

DISTRIBUTION OF NANO SHARES

SCHEDULE D

NET SMELTER RETURNS

For the purposes of this Agreement, the term "net smelter returns" shall mean the net proceeds actually paid to the Company attributable to the Company’s net interest in the Property from the sale of minerals mined and removed from the Property, after deduction of the following:

     In the event the Company commingles minerals from the Property with minerals from other properties, the Company shall establish procedures, in accordance with sound mining and metallurgical techniques, for determining the proportional amount of the total recoverable metal content in the commingled minerals attributable to the input from each of the properties by calculating the same on a metallurgical basis, in accordance with sampling schedules and mining efficiency experience, so that production royalties applicable to minerals produced from the Property may reasonably be determined.

For the purposes of this definition, “the Property” means any mineral property covered by the terms of this Agreement.