SECOND AMENDMENT TO THE OPTION AND JOINT VENTURE AGREEMENT OF MARCH 15, 2001
Exhibit 10.12.2
SECOND AMENDMENT TO THE
OPTION AND JOINT VENTURE AGREEMENT
OF MARCH 15, 2001
It is hereby agreed this August 27, 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 the Agreement and the rights and obligations of the parties hereunder are strictly limited to the areas of interest described in Exhibit l of the First Amendment to the Agreement of May 14, 2002 (being herein referred to as the "Area of Interest"). There is no area of influence around the Area of Interest. Each of the Participants shall have the free and unrestricted right to enter into, conduct and benefit from any and all business ventures of any kind whatsoever, whether or not competitive with · the activities undertaken pursuant hereto, without disclosing such activities to the other Participant or inviting or allowing the other Participant to participate herein. Without limiting the generality of the foregoing, no Participant shall be under any duty to disclose to any other Participant information relating to mining or mineral claims, concessions, or leases of other properties located outside the Area of Interest.
In addition, MHC agrees not to acquire land within the original joint venture area for a period of three years from the date of dropping a property from the joint venture.
The Amendment referred to herein supersedes all other prior agreements and understandings, both written and oral, among the parties or any of them, with respect to the subject matter hereof.
IN WITNESS WHEREOF the parties have executed this Agreement as of the day, month and year first written above.
| 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/ Brian Gavin |
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| MAURICIO HOCHSCHILD & CIA. LTD. |
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| By: | /s/ Jorge Benavides |
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| Its: | Exploration Manager |
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| Jorge Benavides |
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EXHIBIT 1
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| 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 |
