Exhibit 10.19

		APPLICATION AND AGREEMENT FOR IRREVOCABLE STANDBY LETTER OF CREDIT/LETTER OF GUARANTEE
BRANCH	DATE October 23, 2003	BANK REFERENCE NUMBER
1. Please    x issue ¨ amend x By airmail/Courier Original to:    ¨Branch x Applicant ¨ Beneficiary (Place “X” in one box only) ¨ By Teletransmission For my/our account the following: x Irrevocable Standby Letter of Credit       Subject to: ¨ UCP ¨ ISP (Place “X” in one box only) ¨ Irrevocable Letter of Guarantee	2. Applicant (For Account Of) Lowell Mineral Exploration
3. Beneficiary (In Favour Of) Banco Sud AMERICANO	4. Amount in words (specify currency) Two Million Dollars Amount in figures $2,000.000.00
5. Expiry date of guarantee/L/C May 10, 2004	Expiry date of counterguarantee                                                       (IF APPLICABLE)

6. Details including purpose, documentation required and special conditions, if any.

Irrevocable Stanby Letter of Credit is to satisfy the Bank Guarantee requirement of June 10, 2003, Option Contract for the transfer of mining concessions entered into between Empresa Minera del Centro del Peru, S.S. and Minera Peru Copper Syndicate s.a. with the intervention of Investment Promotion Agency- Proinversion, Peru Copper Syndicate LTD. Funds for this Bank Guarantee are being advanced by Lowell Mineral Exploration LLC.

¨ Suggested Proforma attached duly signed bearing reference to this application.
FOR BANK USE ONLY Debit drawings to DDA Account            # _____________ (CAD/USD) Commission Rate                                        _____________ Customer Data Maintenance Form           Supplied/Attached                                                                          (delete one) Customer SLC/LG ID #                             _____________ OLL INFORMATION OLL Account # ________________________ BLT Transit # ______________ Booked as Financial / Non-Financial (delete one) OTHER LIABILITY LOAN NUMBERS		The Undersigned hereby requests The Bank of Nova Scotia (the “Bank”) to issue or amend its Irrevocable Standby Letter of Credit or Irrevocable Letter of Guarantee substantially in compliance with specifications noted above. If the Bank authorizes the issuance or amendment of its Irrevocable Standby Letter of Credit or Irrevocable Letter of Guarantee, its counter guarantee or supporting letter of credit, the Undersigned agrees to be bound by the terms and conditions set out on the reverse hereof. Company Name (where applicable) Lowell Mineral Exploration LLC. Company Contact to clarify instructions J. David Lowell Telephone Number: 520-281-8271
Customer Liability under SLC_______ Curr___________________ Customer Liability under LG________ Curr___________________ AUTHORIZED SIGNATURE                    AUTHORIZED SIGNATURE _______________________        _________________________	X	/s/ J. David Lowell Customer signature ___________________________________ Customer signature (IN CASE OF INCORPORATED COMPANIES AND OTHER ORGANIZATIONS THIS FORM MUST BE SIGNED BY PROPERLY AUTHORIZED OFFICIALS)
NUMBER                                                     NUMBER _______________________        _________________________