EXHIBIT 10.7
xxxxxx
dodge
Corporation of Canada, Limited
17 December, 1999
Xxxxxxxx Xxxxxxxxx, President
Uranium Power Corporation
Suite 000 - 000 Xxxx Xxxxxx
Xxxxxxxxx, XX X0X 0X0
Dear: Xxxxxxxx
Re: Athabasca Basin Work Commitment
We refer to the Exploration Option and Operating Joint Venture Agreement made as
of December 16, 1998 (the "Agreement") between Xxxxxx Dodge Corporation of
Canada, Limited ("PDC"), as Optionor, and Uranium Power Corporation ("UPC"), as
Optionee, regarding the Athabasca Basin, Saskatchewan properties, and in
particular, to Section 4.1(c) thereof. We also refer to your letter of November
19, 1999. Unless otherwise defined herein, capitalized terms used in this letter
have the meanings given to them in the Agreement.
Section 4.1(c) of the Agreement describes the Option. In order to
maintain the Option, the Optionee is required, among other things, to have
completed by December 31, 1999 the Initial Program and to have incurred
Expenditures of $500,000. PDC hereby agrees to amend section 4.1(c) to delete
"December 31, 1999" and replace it with "May 31, 2000" provided that UPC spends
the balance of the $500,000 in the amount of $120,000 on any of the claims
listed on Schedule A - Part 1 of the Agreement other than the four Xxxxxxxx
claims listed therein.
If you are in agreement with the contents of this letter, please sign and return
the enclosed duplicate copy of this letter to the writer at your earliest
convenience.
Yours truly,
/s/X.X. Xxxxx
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X. X. Xxxxx, District Geologist Central District
XXXXXX DODGE CORPORATION OF CANADA, LIMITED
Accepted and agreed, this 20th day of December, 1999
/s/Xxxxxxxx X. Xxxxxxxxx
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Uranium Power Corporation, Xxxxxxxx X. Xxxxxxxxx
Suite 000-000 Xxxxxxx Xx., Xxxxxxxx, Xx., X0X XX0
Phone: 000-000-0000 & Fax: 000-000-0000
