Amendment to the OPTION AND JOINT VENTURE AGREEMENT Of March 15th, 2001
Exhibit 10.12.1
Amendment to the OPTION AND JOINT VENTURE AGREEMENT
Of March 15th, 2001
It is hereby agreed this 14th day of May, 2002, to amend the OPTION AND JOINT VENTURE AGREEMENT of March __15____, 2001, (“The Agreement”) between MINERA ANDES INC., a corporation formed under the laws of Canada ("MAI”), MINERA ANDES S.A., a corporation formed under the laws of Argentina (“MASA”) and MAURICIO HOCHSCHILD & CIA. LTDA., a corporation formed under the laws of Peru (“MHC”).
By mutual consent as witnessed by the signing of this document it is hereby agreed that “Rights” as defined under the preamble of The Agreement and more particularly described in Schedule A of The Agreement will be modified effective as of May 15, 2002 to the areas of interest described in Exhibit 1.
Also, by mutual consent as witnessed by the signing of this document it is hereby agreed that MHC will hereafter take over the responsibilities of maintaining the Rights described in Exhibit 1 as defined under section 7.1.4 (f) of The Agreement.
Neither party shall take any action during the Option Period to exclude from the Property any portion or parcel of the Rights described in Exhibit 1 without the consent of the other party, except in accordance with the procedure state in Section 7.2 of The Agreement.
IN WITNESS WHEREOF the parties have executed this Agreement as of the day, month and year first above written.
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| MINERA ANDES INC. |
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| By: | /s/ Allen V. Ambrose |
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| Its: President |
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| MINERA ANDES S.A. | |
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| By: | /s/ Dr. Jorge Vargas |
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| MAURICIO HOCHSCHILD & CIA. LTD. | |
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| By: | /s/ [illegible] |
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EXHIBIT 1
| PROPERTY TYPE | FILE | AREA REAL | Comments | |
| 1 | El Pluma 1 | 410.411/MA/99 | 750 | Ex cateo 402.845 |
| 2 | El Pluma 2 | 412.277/MA/99 | 1000 | Ex cateo 402.845 |
| 3 | El Pluma 3 | 412.279/MA/99 | 750 | Ex cateo 402.845 |
| 4 | El Pluma 4 | 412.281/MA/99 | 1000 | Ex cateo 402.845 |
| 5 | El Pluma E1 | 410.412/MA/99 | 1000 | Ex cateo 403.627 |
| 6 | El Pluma E2 | 412.278/MA/99 | 1000 | Ex cateo 403.627 |
| 7 | El Pluma E3 | 412.280/MA/99 | 800 | Ex cateo 403.627 |
| 8 | Saavedra 10 | 413.395/MA/00 | 1000 | in cateo |
| 9 | Saavedra 11 | 401.874/MA/01 | 1000 | in cateo |
| 10 | Saavedra 12 | 401.875/MA/01 | 1000 | in cateo |
| 11 | Saavedra 13 | 401.876/MA/01 | 1000 | in cateo |
| 12 | Saavedra 14 | 401.877/MA/01 | 1000 | in cateo |
| 13 | Saavedra 1a | 410.093/MA/99 | 1000 | in cateo |
| 14 | Saavedra 2a | 410.091/MA/99 | 1000 | in cateo |
| 15 | Saavedra 3 | 410.096/MA/99 | 800 | ex cateo |
| 16 | Saavedra 4 | 410.095/MA/99 | 800 | in cateo |
| 17 | Saavedra 5 | 410.089/MA/99 | 800 | in cateo |
| 18 | Saavedra 6b | 410.094/MA/99 | 800 | ex cateo |
| 19 | Saavedra 7a | 410.090/MA/99 | 1000 | in cateo |
| 20 | Saavedra 8 | 410.092/MA/99 | 1000 | in cateo |
| 21 | Saavedra 9 | 413.396/MA/00 | 1000 | in cateo |
| 22 | SaavNE1 | 400.625/MA/01 | 1000 | ex cateo |
| 23 | SaavNE2 | 400.626/MA/01 | 1000 | ex cateo |
| 24 | SaavNE3 | 400.627/MA/01 | 500 | ex cateo |
| 25 | Tres A | 411.333/MA/99 | 1000 | ex cateo |
| 26 | Tres B | 411.334/MA/99 | 750 | ex cateo |
| 27 | Tres C | 414.264/MA/00 | 980 | ex cateo |
| 28 | Tres Colores A | 411.332/MA/99 | 1000 | Ex cateo 406.002 |
| 29 | Tres Colores B | 411.331/MA/99 | 998.5 | Ex cateo 406.002 |
| 30 | Tres Colores C | 414.643/MA/00 | 901 | Ex cateo 406.002 |
| 31 | Tres Colores D | 414.642/MA/00 | 901 | Ex cateo 406.002 |
| 32 | Tres Colores E | 414.641/MA/00 | 901 | Ex cateo 406.002 |
| 33 | Tres Colores F | 414.640/MA/00 | 901 | Ex cateo 406.002 |
| 34 | Tres Colores G | 414.639/MA/00 | 397.5 | Ex cateo 406.002 |
| 35 | Tres D | 414.265/MA/00 | 770.13 | ex cateo |
| 36 | Tres E | 414.266/MA/00 | 999.93 | ex cateo |
| 37 | Tres F | 414.267/MA/00 | 999.93 | ex cateo |
| 38 | Uno A | 413.095/MA/00 | 840 | ex cateo |
| 39 | Uno B | 413.096/MA/00 | 840 | ex cateo |
| 40 | Uno C | 413.097/MA/00 | 820.2 | ex cateo |
| 41 | Uno D | 400.765/MA/01 | 840 | ex cateo |
| 42 | Uno E | 400.766/MA/01 | 840 | ex cateo |
| 43 | Uno F | 400.764/MA/01 | 594 | ex cateo |
| 44 | Uno G | 401.507/MA/01 | 1103.7 | ex cateo 406.943 |
| 45 | Uno H | 401.508/MA/01 | 560.4 | ex cateo 406.943 |
| 46 | Uno I | 401.509/MA/01 | 560.4 | ex cateo 406.943 |
| 47 | AGUAS VIVAS | 403.089/MSC/01 | 9992 | |
| 50490.69 |
