sales & purchase agreement private & confidential dated : 29 october, 2012 sales & purchase agreement for the acquisition of 51 % of hitric resources ( s ) ptd ltd ( “ hitric ” ) this agreement is entered on the 29 october, 2012 between element resources international limited a company incorporated under the laws of hong kong with its registered address at suite 713, 7 / f prudential tower, the gateway, harbour city, 21 canton road, tslmshatsul, hong kong ( “ element ” of the “ company ” ) a wholly owned subsidiary of yinfu gold corporation a company incorporated under the laws of the state, of wyoming, usa with its registered address at suite 2611, 26 / f, office tower langham place, 8 argyle street, mongkok, kowloon, hong kong ( “ ylnfu ” ) and hitric resources ( s ) ptd ltd a company incorporated under the laws of the republic of singapore, with its registered address at 10 anson road, international plaza, # 33 - 17, singapore 079903. company registration number : 201222923h ( “ hitric ” ), holder to the rights of 80 % of the company shares and full management rights of indita pertama, a company incorporated under the laws of the republic of indonesia with its registered address at jl. adhyaksa, shopping complex kayutangl no. r. 15, banjarmasin, indonesia ( indita ” ) and holds mining license for a high grade thermal coal claim with an area of 1, 116 hectares in kec. kusan hulu, kab. tanah bumbu, south kalimantan, indonesia and valid until 25th february 2017 ( “ coal claim ” ) collectively known as the parties and individually hereinafter referred to as the party. whereas, element desires to work together with hitrlc in developing the coal claim mentioned above, described more fully in details in appendix a, on a joint venture by way of acquiring 51 % of the shares of hitric, whereas, hitric has the rights to the 80 % shares of the company that owns the mentioned coal claim. whereas, for the acquisition of the 51 % shares of hitrlc, element has agreed to a value of usd 1, 250, 000 ( united states dollar one million, two hundred and fifty thousand ) and this has been agreed that this is paid in 3, 300, 000 new common shares