TERMS OF JOINT VENTURE

• BrightStar to spend US$3.0 million over 30 months to earn a 50% interest in the Miyabi Project (Phase 1 of the Earning Period).
• A minimum of US$1.0 million is required to be expended in the first 12 months.
• BrightStar may elect to earn a further 25% interest by completing a Feasibility Study for the Project (Phase 2 of the Earning Period).
• At completion of the Earning Period, African Eagle will contribute to further costs at the project. However the accrued value of past expenditure (US$6.5 million) will be credited to the African Eagle JV contribution, so actual contribution of costs will not commence for some time.
• A royalty of 1.5% of gross revenue is payable to local Tanzanian interests which were the original holders of the Prospecting Licences.

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