Sample Business Contracts

Loan Agreement - Pan Asia Mining Corp. and James Poe

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                              PAN ASIA MINING CORP.


April 3, 2001

Mr. James Poe
Room 803
Tung Hip Commercial Bldg.
248 Voeuz Road
Hong Kong

Dear Sirs:

Re:     Pan ASIA MINING CORP. (the "Company")

This  is to confirm our agreement pursuant to which James Poe has agreed to loan
the  Company an aggregate of 5,000,000 common shares, at a deemed price of $0.10
per  share,  for  one  year, plus interest at the rate of prime +5. It is agreed
that  such  shares  will be held in trust and sold privately to further fund the
701  Mine  development.

In consideration for this loan, the Company has agreed to issue, 1,000,000 fully
paid and non-assessable common shares of the Company, at a deemed price of $0.10
per share (the "Bonus Shares").

The issuance of Bonus Shares are subject to the approval of the Canadian Venture
Exchange  and further to the approval of the board of directors, and the Company
hereby  undertakes  to  use  its best efforts to obtain such approval as soon as

This  agreement  may be signed in as many Counterparts as may be necessary, each
of  which so signed shall be deemed to be an original (and each signed copy sent
by  electronic  facsimile  transmission  shall be deemed to be an original), and
such  counterparts  together  shall  constitute  one and the same instrument and
notwithstanding  the  date  of execution shall be deemed to bear the date as set
forth  above.

if the above accurately reflects our agreement, please indicate your acceptance
of these terms by executing this letter in the space provided and returning it
to the Company.

Yours truly,


George LaForme, Director

                              Accepted and Agreed to this 3rd day of April, 2001

                               /s/ James Poe
                              JAMES POE
                  2656 FINCH HILL, WEST VANCOUVER, BC, V7S 3H1
     TELEPHONE: (604) 608-6686 TOLL FREE:1-888-323-8833 FAX: (604) 608-6687