Item 1.01 Entry into a Material Definitive Agreement

On January 16, 2006, the Company entered into an Option Agreement (the "Agreement") with Beeston Enterprises, Inc. ("Beeston") under which Beeston granted us the right to explore and develop mineral property located in the Clinton Mining Division of British Columbia, Canada, as described in the Agreement. We were also granted the option to acquire the property from Beeston. Under the terms of the Agreement, we were required to incur certain expenditures towards mining operations, or to make an equivalent cash payment.
On January 16, 2009, the Company entered into an amendment to the Agreement (the "1stAmendment"), under which Beeston has agreed to extend certain time periods under the Agreement. On June 22, 2009, Beeston and the Company entered into a 2nd Amendment to the Agreement under which Beeston agreed to extend the time Kranti has to complete mining operations or make cash payments, under sub-paragraph 5.(c) of the Agreement in exchange for an increase in the amount of expenditures Kranti is required to make under the Agreement.