amended clauses?, page-21

re: it's about to go off Riders...remember this:

Yes, $15,000.

The company advises that with its primary focus on the Koolan Island
Iron Ore Project and the Brockman Tantalum/Polymetallic Project, it
has reached agreement with Paladin Resources Ltd for the sale of its
interest in the Langer Heinrich Uranium Project in Namibia (Africa).

Over the past eighteen months theLanger Heinrich Project has been
maintained at minimal levels. The company believes that the future
potential of the Langer Heinrich Uranium deposit, and hence value for
Aztec Resources Ltd, can be best achieved by a company with a
dedicated focus. The letter of agreement therefore provides for the
company to receive a sales royalty of $0.12 per kilogram of yellow
cake, together with a cash consideration of $15,000.

The sale will allow Aztec to benefit from any future development of
the project, without the need for the further allocation of funds
which it believes will be better directed to the Koolan Island and
Brockman projects.

The company has written off all expenditure incurred on the Langer
Heinrich Project ($2.2 million) and will bring to account future
royalty income on a cash received basis.

Yours faithfully


B R Matich
MANAGING DIRECTOR