The Great Eastern Gold Mine in Australia

CONTRACTUAL AGREEMENT

This document summarizes the principal terms with respect to a contractual agreement between Eastern Gold Pty Limited (the Company and Paul Smith (the Contractor ) for the extraction of Gold in the New South Wales region of Australia referred to as Mullock Heap . The agreement , dated as of ________________ , is adopted by , executed and agreed to by Eastern Gold Pty Limited and by Paul Smith

ARTICLE 1 Independent Contractor

Independent Contractor . Subject to the terms and conditions of this Agreement , the Company hereby engages the Contractor as an independent

contractor to perform the services set forth herein , and the Contractor hereby accepts such engagement

ARTICLE 2 Duties , term , and Compensation

Duties , Term , and Compensation . The Contractor 's duties , term of engagement , compensation and provisions for payment thereof shall be as set forth in the estimate provided to the Company by the Contractor and which is presented below , which may be amended in writing from time to time , or supplemented with subsequent estimates for services to be rendered by the Contractor and agreed to by the Company , and which collectively are hereby incorporated by reference

DUTIES : The Contractor will [provide a study of Mullock Heap geological makeup in the location of interest , a proposal for designing for Gold extraction including detailed listing of staff and equipment needed , and will effectuate the extraction of Gold in the Mullock Heap region] . He will report directly to [The project manager] and to any other party designated by the Company in connection with the performance of the duties under this Agreement and shall fulfill any other duties reasonably requested by the Company and agreed to by the Contractor

TERM : This engagement shall commence upon execution of this Agreement and shall continue in full force and effect through May 30 , 2008 or earlier upon completion of the Contractor 's duties under this Agreement The Agreement may only be extended thereafter by mutual agreement unless terminated earlier by operation of and in accordance with this Agreement

COMPENSATION

A . As full compensation for the services rendered pursuant to this Agreement , the Company shall pay the Contractor a compensation equivalent to 25 (twenty five percent ) of the perceived market value of the extracted Gold . The market value of the extracted Gold shall be determined according to the international trading value of Gold at the time of delivery . Such compensation shall be payable within 30 days of receipt of Contractor 's monthly invoice for services rendered supported by reasonable documentation of monthly completed Gold Extraction

B . Full compensation for the services rendered pursuant to this Agreement is to be determined by the capacity of the Contractor to meet one- half of a ton of Gold for delivery to the Mint Company . A failure to complete delivery on time , shall result in a fee to the Contractor amounting to 5000 per week until agreed quota is met by this Agreement .ARTICLE 3 Expenses

Expenses . During the term of this Agreement , the Contractor shall bill and the Company shall reimburse him...