Green Leaf Innovations Inc (GRLF)

[duelittle2]

The development of these claims will progress in Four (4) Stages:

Phase I- The first Phase will involve general exploration, mapping and sampling. The property will be mapped, randomly sampled and the property geologically evaluated for possible additional claim filings. A geological description of the possible structures will be developed as well as correlation of historical data and initial permitting.

Phase II- in Phase 2, a second and more complete sampling program will be implemented as well as recommendations with respect to mining the ore body.
An NI 43-101 report commissioned. A small scale trommel will be used in the testing process to determine later production and Au extraction requirements. The Phase II extraction system will resemble as close a possible a small scale production facility.

Phase III and IV- will involve decisions regarding the size of expansion all based on the in ground reserves, gold and silver prices, the results of the Phase I and II, etc.

The JV requires the Company to fund the 4 phases of development under the following funding schedule:

(Supplementing in here Warmy's Post...Dates added)

This is what we have to go on so far. I'm adding the dates based on the stated time frames below.

1) First Payment $25,000 due 10 business days of execution of this agreement (PHASE I) (Feb. 23, 2012)

2) Second payment of $50,000 due 30 days from first payment above (PHASE I) (Mar. 14, 2012)

3) Third payment of $350,000 due 120 days from first payment above (PHASE II) (Jun. 22, 2012)

4) Forth payment of $100,000 due 240 days from first payment above (PHASE III) (Oct. 20, 2012)

5) Fifth payment of $600,000 due 365 days from first payment above (PHASE IV) (Feb. 2, 2013)

6) Sixth payment of $250,000 due 425 days from first payment above (PHASE IV) (Apr. 23, 2013)

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