EXPLORATION AGREEMENT

On February 27, 2007, First Source executed a Letter of Intent with ASPM Inc. and Lockhart Exploration Services Ltd. to acquire exploration rights for approximately 1450 hectares of prospective Gold and Copper property in the Gaspe region of Quebec. A formal agreement was subsequently executed on March 8, 2007 (both together referred to as "the Agreement").

In summary, the Agreement stipulates that:

• ASPM will grant First Source a 100% interest in 26 mineral claims, totalling approximately 1450 contiguous hectares hectares, in the Gaspe region of Quebec (an area referred to as the Lac Des Pics claim area);
• ASPM will offer its geological expertise to First Source in exploring the property through the involvement of Lockhart Exploration Services;
• ASPM, Lockhart Exploration Services and First Source will work together to secure and retain an independent geologist to complete a 43-101 qualifying report for the property;
• First Source will pay ASPM $75,000 over three years as consideration for the mineral claim interest ($25,000 each year);
• First Source will spend $750,000 in exploration on the property over three years ($150,000 in year one, $250,000 in year two, and $350,000 in year three).
• First Source will issue 750,000 common shares to ASPM (150,000 in year one, 250,000 in year two, and 350,000 in year three).
• First Source may terminate its obligations under the Agreement at any time, and, if it does so before all the above obligations have been met, ownership of the claims reverts back to ASPM.

The Agreement aims to strike a balance for the interests of all parties involved, giving ASPM and Lockhart Exploration Services a vested interest in the ongoing success of the company and the exploration program, while also minimizing the risk to investors by allowing First Source to terminate its obligations at any time to pursue other interests.