director with company of p. o. box _ _ _ _ _ _ _ _ _, dar es salaam, united republic of tanzania, a director and shareholder of geo can resources company of p. o. box _ _ _ _ _ _ _ _ _, dar es salaam, united republic of tanzania ( hereinafter called the “ the purchaser ” ) ( of the first part ) _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ in partnership with _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ of p. o. box _ _ _, _ _ _ _ _ _ _ _ _ _ _ _ _, united republic of tanzania ( hereinafter individually referred to as an “ owner ” and collectively referred to as the “ owners ” ) ( of the second part ) ( a ) the purchaser and the owners entered into a mineral properties sale and purchase agreement dated 21st may 2009 in respect of the above mentioned licenses as amended by an addendum between the parties dated 18th sept 2009 ( the “ agreement ” ). ( b ) the owners have received the initial payment and a second payment of the initial payment pursuant to 2. 1. 1 of the agreement to extend the date for the secondary payment to 240 days after the execution date of the agreement. ( c ) the purchaser has advised the owners that the purchaser is planning and preparing for the payment of the secondary and final buy out payments according to this second addendum. 1. 0 the above recitals are true and correct and form part of this amendment. 2. 0 clause 2. 1. 3 of the agreement is deleted and replaced with the following : “ 2. 1. 3 the secondary payment for each producing pml of tsh _ _ _ _ _ _ _ _ _ _ _ _ listed on schedule a shall be paid either ( i ) on or before 120 days after the execution date or ( ii ) 240 days after the execution date if a second initial payment was made and shall be paid in two payments of 50 % each as follows : ( a ) first payment of 50 % paid as follows : ( i ) 20 % being paid immediately upon execution of this second addendum by the owner ( the “ execution date ” ) ; and ( ii ) 30 % two weeks after the purchaser has received written confirmation of the transfer of the