Agreement to Terminate Option Agreement Between Vista Gold Corp. and Luzon Minerals Ltd. (Amayapampa Gold Project)
Vista Gold Corp. and Luzon Minerals Ltd. have mutually agreed to terminate their Option Agreement dated March 13, 2007, concerning the Amayapampa Gold Project. As of November 20, 2007, the Option Agreement is no longer in effect, except for any provisions that survive termination as specified in the original agreement. Both parties have confirmed this termination in writing, and no further actions are required to finalize it.
Exhibit 10.1
| 7961 Shaffer Parkway l Suite 5 l Littleton, CO USA 80127 |
| Telephone: (720) 981-1185 l Facsimile: (720) 981-1186 |
November 20, 2007
Luzon Minerals Ltd.
Suite 202, 837 West Hastings Street
Vancouver, British Columbia V7X 1M8
Attention: Willie McLucas, Chairman / Don MacDonald, President
Dear Sirs/Mesdames:
Agreement to Terminate the Option Agreement with Vista Gold Corp. Regarding the Amayapampa Gold ProjectFurther to our recent discussions, we are writing to confirm our agreement regarding the termination of the option agreement (the “Option Agreement”) dated March 13, 2007 between Vista Gold Corp. (“Vista”) and Luzon Minerals Ltd. (“Luzon”) regarding the Amayapampa Gold Project.
Each of Vista and Luzon hereby acknowledge and agree that, effective today, the Option Agreement is terminated, without any further act or formality and except as specified in the Option Agreement, the Option Agreement is of no further force or effect as of such date.
Please sign where indicated below to confirm Luzon’s agreement as outlined above and return a signed copy of this letter to my attention at your earliest convenience.
Yours truly,
VISTA GOLD CORP.
| Per: | /s/ Michael B. Richings |
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| Michael B. Richings, Executive Chairman and CEO |
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Agreed to and accepted effective this 20th day of November, 2007
LUZON MINERALS LTD.
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| /s/ Donald L. MacDonald |
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| Name: Donald L. MacDonald |
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| President |
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