STERLING GROUP VENTURES INC
ACQUISITION AGREEMENT DATED JANUARY 20, 2004
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>3
<FILENAME>exhibit10-1.htm
<DESCRIPTION>ACQUISITION AGREEMENT DATED JANUARY 20, 2004
<TEXT>
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<P align="center">
<B>ACQUISITION AGREEMENT </B>
</P>
<P> THIS AGREEMENT made effective the 20<SUP>th</SUP> day of January, 2004.</P>
<P>
BETWEEN
</P>
<P align="center"> <B>Sterling Group Ventures, Inc.<br>
  </B>a business corporation duly incorporated<br>
  under the laws of the state of Nevada with its business address at<br>
  12880 Railway Avenue, Unit 35<br>
  Richmond, BC V7E 6G4<br>
  (&#147;&nbsp;<B>Sterling Group</B>&#148;) </P>
<P>
AND
</P>
<P align="center"> <B>Micro Express Ltd.<br>
  </B>a private business corporation duly incorporated<br>
  under the laws of the British Virgin Islands, with its business address at<br>
  Suite 900 &#150; 789 West Pender Street<br>
  Vancouver, BC V6C 1H2<br>
  (&#147;&nbsp;<B>Micro Express</B>&#148;)</P>
<P> WHEREAS:</P>
<table style="font-size: 10pt;" width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td valign="top">A.</td>
    <td><p align="justify">Sterling Group is a business corporation whose common
        shares are quoted on the OTC </p>
      <p align="justify"> Bulletin Board </p></td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td width="5%" valign="top">B.</td>
    <td><p align="justify">Micro Express is a private company which is a party
        to an agreement with Sichuan Province Mining Ltd, which is 40% held by
        the Bureau of Sichuan Geology and Resources of the Sichuan Government.
        Under the terms of the agreement, Micro Express has the right to acquire
        at least 75% of the shares of a co-operative joint venture company to
        be formed and which will hold the necessary mining licenses (5). The business
        of the joint venture company is to develop the Jiajika spodumene property
        for the extraction of lithium, lithium salts, and other minerals. The
        initial capacity of the company is 900,000 tonnes/annum. The spodumene
        concentrate expected to be produced is 176,000 tonnes/annum and tantalum
        concentrate is 166 tonnes/annum. The total investment required is estimated
        at 238 million Chinese Yuan. The initial registered capital is 83 million
        Chinese Yuan, 35% of the total investment. Sichuan Mining Ltd will contribute
        21 million Chinese to hold 25% of the JV company. Micro Express will contribute
        62 million Chinese Yuan to hold 75% of the JV company. </p>
      <p align="justify"> Micro Express has also signed a letter of intent with
        Hunan Daoxian County Local Government to develop the lithium/rubidium
        mine in Daoxian, Hunan Province. The Hunan County will contribute a mining
        license and earn 10% of the 30 year mining joint venture to be formed.
        Micro Express will earn 90% by developing and putting the lithium mine
        into production. </p></td>
  </tr>
</table>
<P align="justify"><B>NOW, THEREFORE THIS AGREEMENT WITNESSES that in consideration
  of the mutual covenants herein contained, and other good and valuable consideration
  the receipt and sufficiency of which is hereby acknowledged by the Parties,
  and intending to be legally </B><b>bound, the Parties covenant and agree as
  follows:</b> </P>
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- 1 -
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<p align="center"><b> Article One</b><br>
  <b>Shares Exchange Between the Parties</b></p>
<table style="font-size: 10pt;" width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td valign="top">1.1</td>
    <td><div align="justify">Subject to the terms and conditions set forth herein,
        Sterling Group has entered an agreement to acquire 100% of the issued
        and outstanding shares of Micro Express, This agreement is conditional
        upon Sterling Group undertaking proper due diligence and is subject to
        normal regulatory approval. <br>
        &nbsp; </div></td>
  </tr>
  <tr>
    <td valign="top">1.2</td>
    <td><div align="justify">To effect the transaction under this Agreement, Sterling
        Group shall issue to Micro Express Shareholders and/or their nominees
        a total of 25,000,000 common shares of its capital stock immediately upon
        the execution of this Agreement . <br>
        &nbsp;</div></td>
  </tr>
  <tr>
    <td valign="top">1.3</td>
    <td><p align="justify">For the avoidance of doubt, the common shares to be
        issued to Micro Express Shareholders under this Agreement shall be issued
        to Micro Express Shareholders and/or their nominees according to the ratio
        and percentage of subscription for shares by such Micro Express Shareholders
        and/or their nominees. <br>
        &nbsp; </p></td>
  </tr>
  <tr>
    <td valign="top">1.4</td>
    <td><p align="justify">Micro Express Shareholders shall have the right to
        appoint directors to the Board of Directors of Sterling Group on the date
        of execution of this Agreement. Micro Express Shareholders agree to cause
        such director(s) of Sterling Group to be appointed as director(s) of Micro
        Express, provided that the majority directors of Micro Express consist
        of majority directors of Sterling Group, subsequent to the transaction
        contemplated herein. <br>
        &nbsp; </p></td>
  </tr>
  <tr>
    <td width="5%" valign="top">1.5</td>
    <td><div align="justify">Subject to and in accordance with section 1.4, the
        Parties understand that the number of directors of Sterling Group will
        be increased to include such business, finance, legal and other professional
        personnel as required for the operations of the Company. </div></td>
  </tr>
</table>
<P align="center"> <B>Article Two<br>
  </B><B>Representations and Warranties of Sterling Group</B></P>
<table style="font-size: 10pt;" width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td valign="top">2.1</td>
    <td> Immediately prior to this Agreement, Sterling Group has a total of 11,
      360, 000 shares issued and outstanding, all in one class of common shares.
      In addition, Sterling Group has no options, warrants or other instrument
      convertible into shares. <br> &nbsp; </td>
  </tr>
  <tr>
    <td valign="top">2.2</td>
    <td><div align="justify">Sterling Group represents and warrants to Micro Express
        Shareholders that Sterling Group is a corporation duly organized, validly
        existing and in good standing in all aspect under the laws of the state
        of Nevada. &nbsp;<br>
        &nbsp;</div></td>
  </tr>
  <tr>
    <td valign="top">2.3</td>
    <td><div align="justify">Sterling Group represents and warrants that it is
        in good standing under the SEC rules and has been consistently in compliance
        with all SEC requirements for its common shares to be and quoted over
        the counter of the Bulletin Board of NASD. &nbsp;<br>
        &nbsp;</div></td>
  </tr>
  <tr>
    <td width="5%" valign="top">2.4</td>
    <td><div align="justify">Sterling Group represents and warrants that there
        is no action, claim, lawsuits pending or threatened against Sterling Group.
        Since the last audited Financial Statements and the unaudited interim
        financial statements for the third quarter 2003, there has been no change
        in liabilities or debt or change in circumstances of Sterling Group that
        has had or which Sterling Group may expect to have material change or
        adverse effect on the business, affairs and assets of Sterling Group.
        Sterling Group has no debts, liabilities to any third party other than
        those expressly disclosed in its audited and unaudited financial </div></td>
  </tr>
</table>
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<p align="justify" style="margin-left:5%">statements referenced hereto. For greater
  certainty, it has no indebtedness, liabilities or commitment in favour of any
  third party in respect of any of its business or activities which it pursued
  prior to this Agreement.</p>
<table style="font-size: 10pt;" width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="5%" valign="top">2.5</td>
    <td><div align="justify">Sterling Group represents and warrants that neither
        itself nor any of its current or former directors, officers has been the
        subject of investigation or any disciplinary action by the SEC for a minimum
        of three (3) years immediately prior to the execution of this Agreement.<br>
        &nbsp; </div></td>
  </tr>
  <tr>
    <td valign="top">2.6</td>
    <td><div align="justify">Sterling Group has full power and authority to enter
        into this Agreement and to consummate the transactions contemplated hereby;
        all approval and consent required in respect of the transactions hereunder
        have been given to and obtained by Sterling Group, and no further consent,
        approval or action or proceeding on the part of Sterling Group, its shareholders
        or its directors is required; the execution, delivery and performance
        of this Agreement by Sterling Group and its directors have been duly and
        validly approved by Sterling Group, its directors and shareholders pursuant
        to the Certificate of Incorporation and By-Laws of Sterling Group. <br>
        &nbsp;</div></td>
  </tr>
  <tr>
    <td valign="top">2.7</td>
    <td><div align="justify">The execution, delivery and performance of this Agreement
        by Sterling Group will not violate any laws, regulations, rules, provisions
        or policies, including without limitation, SEC and NASD rules, provisions
        and policies. Nothing contained and contemplated herein will adversely
        affect the current and post-transaction listing status and privileges
        of Sterling Group&#146;s common shares traded Over the Counter Bulletin
        Board of NASD. <br>
        &nbsp;</div></td>
  </tr>
  <tr>
    <td valign="top">2.8</td>
    <td><div align="justify">Since the last financial statements, ending on September
        30, 2003, there has been no change in circumstances that has had or Sterling
        Group may expect to have a material adverse effect on the assets, business
        and affairs of Sterling Group. </div></td>
  </tr>
</table>
<P align="center"> <B>Article Three<br>
  </B><B>Representations and Warranties of Micro Express Shareholders </B> </P>
<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
  <TR>
    <TD valign="top">3.1</TD>
    <TD colspan="2" valign="top"><div align="justify">Micro Express Shareholders
        are the owners of all the Transferred Shares in the capital stock of Micro
        Express. <br>
        &nbsp; </div></TD>
  </TR>
  <TR>
    <TD valign="top">3.2</TD>
    <TD colspan="2" valign="top"><div align="justify">Micro Express is a business
        corporation duly incorporated in the British Virgin Islands. <br>
        &nbsp;</div></TD>
  </TR>
  <TR>
    <TD valign="top">3.3</TD>
    <TD colspan="2" valign="top"><div align="justify">Each of Micro Express Shareholders
        has the full power and authority to enter into this Agreement and to consummate
        the transactions contemplated hereby. All approval, consent required in
        respect of the transaction hereunder have been given and have been obtained
        by Micro Express Shareholders. No further consent, approval or action
        or proceeding on the part of Micro Express Shareholders is required.<br>
        &nbsp; </div></TD>
  </TR>
  <TR>
    <TD valign="top">3.4</TD>
    <TD colspan="2" valign="top"><div align="justify">The transfer and assignment
        by each of Micro Express Shareholders of the Transferred Shares shall
        in all aspects be considered as separate transfer and assignment. <br>
        &nbsp;</div></TD>
  </TR>
  <TR>
    <TD valign="top">3.5</TD>
    <TD colspan="2" valign="top"><div align="justify">Since inception, Micro Express&#146;s
        business has been operated substantially in accordance with all laws,
        rules, regulations, orders of competent regulatory authorities, and there
        has not been <br>
        &nbsp;</div></TD>
  </TR>
  <TR>
    <TD valign="top" width="5%">&nbsp;</TD>
    <TD valign="top" width="5%">(1)<BR> &nbsp;&nbsp;</TD>
    <TD valign="top"><div align="justify">any event or change in circumstances
        that has had, or which Micro Express Shareholders expect to have, a materials
        adverse effect on Micro Express or its business;<BR>
        &nbsp;&nbsp;</div></TD>
  </TR>
  <TR>
    <TD valign="top" width="5%">&nbsp;</TD>
    <TD valign="top" width="5%">(2)</TD>
    <TD valign="top"><div align="justify">any change in liabilities of Micro Express
        that has had, or which Micro Express Shareholders may expect to have,
        a material effect on Micro Express or its business;</div></TD>
  </TR>
</TABLE>
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<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
  <TR>
    <TD valign="top" width="5%">&nbsp;</TD>
    <TD valign="top" width="5%">(3)<BR> &nbsp;&nbsp;</TD>
    <TD valign="top"><div align="justify">any incidence, assumption or guarantee
        of any indebtedness of Micro Express for borrowed money of Micro Express;<BR>
        &nbsp;</div></TD>
  </TR>
  <TR>
    <TD valign="top" width="5%">&nbsp;</TD>
    <TD valign="top" width="5%">(4)<BR> &nbsp;&nbsp;</TD>
    <TD valign="top"><div align="justify">any payments by Micro Express in respect
        of any indebtedness of Micro Express for borrowed money or in satisfaction
        of any liabilities of Micro Express;<BR>
        &nbsp;</div></TD>
  </TR>
  <TR>
    <TD valign="top" width="5%">&nbsp;</TD>
    <TD valign="top" width="5%">(5)<BR> &nbsp;&nbsp;</TD>
    <TD valign="top"><div align="justify">the creation, assumption or sufferance
        of the existence of any lien on any assets reflected on Micro Express&#146;s
        Financial Statements;<BR>
        &nbsp;</div></TD>
  </TR>
  <TR>
    <TD valign="top" width="5%">&nbsp;</TD>
    <TD valign="top" width="5%">(6)<BR> &nbsp;&nbsp;</TD>
    <TD valign="top"><div align="justify">any change by Micro Express in its accounting
        principles, methods or practices in the manner it keeps its books and
        records;<BR>
        &nbsp;</div></TD>
  </TR>
  <TR>
    <TD valign="top" width="5%">&nbsp;</TD>
    <TD valign="top" width="5%">(7)<BR> &nbsp;&nbsp;</TD>
    <TD valign="top"><div align="justify">any distribution, dividend or bonus
        by Micro Express to any of its respective officers, directors, stockholders
        or affiliates, or any of their respective affiliates or associates; and<BR>
        &nbsp;</div></TD>
  </TR>
  <TR>
    <TD valign="top" width="5%">&nbsp;</TD>
    <TD valign="top" width="5%">(8)<BR> &nbsp;&nbsp;</TD>
    <TD valign="top"><div align="justify">any material capital expenditure or
        commitment by Micro Express or material sale, assignment, transfer, lease
        or other disposition of or agreement to sell, assign, transfer, lease
        or otherwise dispose of any assets or property by Micro Express other
        than in the ordinary course of business.<br>
        &nbsp; </div></TD>
  </TR>
</TABLE>
<table style="font-size: 10pt;" width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td valign="top">3.6 </td>
    <td><div align="justify">Micro Express has the full corporate power and authority
        to carry on the business presently being carried on by it and as proposed
        to be carried on by it. <br>
        &nbsp; </div></td>
  </tr>
  <tr>
    <td valign="top">3.7 </td>
    <td><div align="justify">Micro Express holds all licenses, and permits as
        may be requisite for carrying on its business in the manner in which it
        has heretofore been carried on. <br>
        &nbsp; </div></td>
  </tr>
  <tr>
    <td width="5%" valign="top">3.8</td>
    <td><div align="justify">There has been no change in circumstances which has
        had or which Micro Express Shareholders may expect to have any adverse
        effect on the assets, business and affairs of Micro Express. </div></td>
  </tr>
</table>
<P align="center"> <B>Article Four<br>
  Covenants</B></P>
<table style="font-size: 10pt;" width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td valign="top">4.1</td>
    <td>This Agreement shall enter into force and be binding on the Parties as
      from the date first above written. <br>
      &nbsp; </td>
  </tr>
  <tr>
    <td width="5%" valign="top">4.2</td>
    <td>The Parties shall cooperate and work with each other in good faith to
      provide to each other with all information necessary to enable the Parties
      to complete their respective due diligence. </td>
  </tr>
</table>
<P align="center"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Article Five<br>
  &nbsp; Miscellaneous Provisions</B></P>
<table style="font-size: 10pt;" width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td valign="top">5.1 </td>
    <td><div align="justify">This Agreement shall be governed by and construed
        in accordance with the laws of the British Columbia and those of Canada
        applicable thereto. <br>
        &nbsp; </div></td>
  </tr>
  <tr>
    <td width="5%" valign="top">5.2 </td>
    <td><div align="justify">Any and all disputes arising out of or in connection
        with this Agreement, or in respect of any defined legal relationship associated
        therewith or derived there from, shall be first addressed through consultation
        and/or mediation. Disputes unresolved through consultation and mediation
        shall be referred to and finally resolved by arbitration under the Rules
        of and before the International Chamber of Commerce (&#147;ICC&#148;)
        International Court of Arbitration in Vancouver, Canada, as those rules
        may be amended and replaced from time to time. </div></td>
  </tr>
</table>
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<table style="font-size: 10pt;" width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td valign="top">5.3</td>
    <td><div align="justify">The arbitration tribunal shall consist of three (3)
        arbitrators to be named and appointed in accordance with the applicable
        rules of procedures of the ICC International Court of Arbitration. For
        the avoidance of doubt, each Sterling Group and Micro Express Shareholders
        acting jointly shall have the right to name one (1) arbitrator and the
        chairman and the third arbitrator of the tribunal shall be appointed pursuant
        to the applicable rules of procedure. The final award of the arbitration
        tribunal shall be final and binding upon the Parties. The losing Party
        shall bear and reimburse the prevailing Party costs and expenses associated
        with the preparation and prosecution of the arbitration and any enforcement
        proceedings, including attorney fees on solicitor-client basis, unless
        otherwise directed by the arbitration tribunal or court of competent jurisdiction.
        <br>
        &nbsp; </div></td>
  </tr>
  <tr>
    <td valign="top">5.4</td>
    <td><p align="justify">Where the losing Party fails to comply with such order
        and award, the prevailing Party shall be free to apply to a court of competent
        jurisdiction for an order of enforcement or such other orders or relief
        as may be properly granted by the court.<br>
        &nbsp; </p></td>
  </tr>
  <tr>
    <td valign="top">5.5</td>
    <td><p align="justify">Nothing contained herein will limit or prohibit the
        rights of either Party to apply to a court of competent jurisdiction for
        interim protection such as, by way of example, an interim injunction or
        order enforcing its rights hereunder in a court of competent jurisdiction,
        prior or subsequent to the arbitration.&nbsp;<br>
        &nbsp; </p></td>
  </tr>
  <tr>
    <td valign="top">5.6</td>
    <td><div align="justify">No condoning, excusing or overlooking by a Party
        of any default, breach or non-observance by the other at any time or times
        in respect of any covenants, provisions, or conditions of this Agreement
        shall operate as a waiver of such Party&#146;s rights under this Agreement
        in respect of any continuing or subsequent default, breach or non-observance,
        so as to defeat in any way the rights of such Party in respect of any
        such continuing or subsequent default or breach and no waiver shall be
        inferred from or implied by anything done or omitted by such Party in
        the absence of an express waiver in writing.<br>
        &nbsp; </div></td>
  </tr>
  <tr>
    <td valign="top">5.7</td>
    <td><div align="justify">No amendment or other modification of this Agreement
        will be binding unless executed in writing by the Parties hereto. The
        Parties shall cooperate in order to comply with all legal and regulatory
        provisions required to maintain and continue the trading status of the
        shares of Sterling Group at NASD. <br>
        &nbsp; </div></td>
  </tr>
  <tr>
    <td valign="top">5.8</td>
    <td><div align="justify">This Agreement and everything contained herein will
        inure to the benefit of and be binding upon the Parties and their permitted
        successors and assigns. <br>
        &nbsp; </div></td>
  </tr>
  <tr>
    <td valign="top">5.9</td>
    <td><div align="justify">This Agreement may be executed in counterparts and
        by facsimile transmission, each such counterpart together shall constitute
        a single instrument. Three (3) original copies of such counterparts executed
        by each Party shall be forth with delivered to all other Parties by registered
        express mail. <br>
        &nbsp; </div></td>
  </tr>
  <tr>
    <td valign="top">5.10</td>
    <td><div align="justify">For all purposes, this Agreement shall be deemed
        to be signed and executed at Vancouver, British Columbia, Canada. <br>
        &nbsp; </div></td>
  </tr>
  <tr>
    <td valign="top">5.11</td>
    <td><div align="justify">Schedules annexed hereto shall form an integral part
        of this Agreement. <br>
        &nbsp; </div></td>
  </tr>
  <tr>
    <td width="5%" valign="top">5.12</td>
    <td><div align="justify">This Agreement shall enter into force as of the date
        first above written. </div></td>
  </tr>
</table>
<P> IN WITNESS WHEREOF the Parties have duly executed this agreement.</P>
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<br>
<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
  <TR>
    <TD width="37%">THE COMMON SEAL of Sterling Group Inc., was</TD>
    <TD width="13%">)</TD>
    <TD width="50%">&nbsp;</TD>
  </TR>
  <TR>
    <TD>hereto affixed in the presence of:</TD>
    <TD width="13%">)</TD>
    <TD width="50%">&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD width="13%">)</TD>
    <TD width="50%">&nbsp;</TD>
  </TR>
  <TR>
    <TD><u>/s/ James Hutchison</u></TD>
    <TD width="13%">)</TD>
    <TD width="50%">&nbsp;</TD>
  </TR>
  <TR>
    <TD>Authorised Signatory</TD>
    <TD width="13%">)</TD>
    <TD width="50%">c/s</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD width="13%">)</TD>
    <TD width="50%">&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD width="13%">)</TD>
    <TD width="50%">&nbsp;</TD>
  </TR>
  <TR>
    <TD>_______________</TD>
    <TD width="13%">)</TD>
    <TD width="50%">&nbsp;</TD>
  </TR>
  <TR>
    <TD>Authorised Signatory</TD>
    <TD width="13%">)</TD>
    <TD width="50%">&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD>THE SEAL and/or Signature of Micro Express</TD>
    <TD width="13%">)</TD>
    <TD width="50%">&nbsp;</TD>
  </TR>
  <TR>
    <TD>Shareholders were hereto affixed in the presence of:</TD>
    <TD width="13%"> )</TD>
    <TD width="50%">&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD width="13%">)</TD>
    <TD width="50%">&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD width="13%">)</TD>
    <TD width="50%">&nbsp;</TD>
  </TR>
  <TR>
    <TD><u>/s/ Raoul Tsakok</u></TD>
    <TD width="13%">)</TD>
    <TD width="50%">c/s</TD>
  </TR>
  <TR>
    <TD>Authorised Signatory</TD>
    <TD width="13%">)</TD>
    <TD width="50%">&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD width="13%">)</TD>
    <TD width="50%">&nbsp;</TD>
  </TR>
  <TR>
    <TD>________________</TD>
    <TD width="13%">)</TD>
    <TD width="50%">&nbsp;</TD>
  </TR>
  <TR>
    <TD>Authorised Signatory</TD>
    <TD width="13%">)</TD>
    <TD width="50%">&nbsp;</TD>
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<P> &nbsp;<br>
  Schedule I Financial Statements of Sterling Group </P>

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<P> Schedule II Financial Statements of Micro Express </P>
<P>&nbsp; </P>
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- 7 -
</P>

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