Filed by Automated Filing Services Inc. (604) 609-0244 - Phage Genomics, Inc. -
Exhibit 10.7






EXTENSION AGREEMENT




THIS EXTENSION AGREEMENT is made effective as of the 22nd day of June, 2005, by
and among Phage Genomics, Inc. (the Optionee), K. Ian Matheson (Matheson),
Searchlight Minerals, Inc., Geotech Mining Inc., Michael D. Anderson, Geosearch
Inc., and Patrick B. Matheson (together, the Optionors) (the "Extension
Agreement").



WHEREAS:



A.      The Optionors, the Optionee and Matheson are parties to a Letter
Agreement dated as of February 8, 2005, (the "Letter Agreement"), wherein the
Optionors agreed to assign, subject to the fulfillment of certain conditions,
all of their right title and interest in the following Nevada mineral claims to
the Optionee:


Nevada Mineral Claim  Serial Number
Rio Raga 310       NMC 699996
Rio Raga 311       NMC 699997


B.      The Optionors and the Optionee mutually desire to extend the corporate
restructuring date set out in Section 7 to the Letter Agreement (the
Restructuring Date) upon the terms and conditions set forth herein.


NOW THEREFORE THIS AGREEMENT WITNESSES that in consideration of the premises
contained herein and for other good and valuable consideration, the parties
agree as follows:


1.     Extension of Restructuring Date. Section 7 of the Letter Agreement is
hereby revised to read as follows:


Phage is completing a corporate restructuring and Phage will issue the
securities as set forth in this agreement upon completion of the
restructuring which will be completed on or before June 30, 2005.


2.     No Other Modification. The parties confirm that the terms, covenants and
conditions of the Letter Agreement remain unchanged and in full force and
effect, except as modified by this Agreement.


3.      Headings. The headings of the various sections of this Extension
Agreement have been inserted for convenience of reference only and shall not be
deemed to be part of this Extension Agreement.


4.      Counterparts. This Extension Agreement may be executed in two or more
counterparts, each of which shall constitute an original, but all of which, when
taken together, shall constitute but one instrument, and shall become effective
when one or more counterparts have been signed by each party hereto and
delivered to the other parties.


5.      Successors and Assigns. Except as otherwise expressly provided herein,
the provisions hereof shall inure to the benefit of, and be binding upon, the
successors, assigns, heirs, executors and administrators of the parties hereto.





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6.     Entire Agreement. This Extension Agreement constitutes the full and
entire understanding and agreement between the parties with regard to the
subject hereof.


IN WITNESS WHEREOF, the parties have duly executed and delivered this Extension
Agreement as of the date first written above.



PHAGE GENOMICS, INC.                      GEOTECH MINING INC.



by its authorized signatory:              by its authorized signatory:


/s/ K. Ian Matheson                       /s/ Charles A. Ager
Signature of Authorized Signatory         Signature of Authorized Signatory


K. Ian Matheson                           Charles A. Ager
Name of Authorized Signatory              Name of Authorized Signatory


President                                 President
Position of Authorized Signatory          Position of Authorized Signatory



SEARCHLIGHT MINERALS, INC.                GEOSEARCH INC.



by its authorized signatory:              by its authorized signatory:


/s/ K. Ian Matheson                       /s/ Carol J. Ager
Signature of Authorized Signatory         Signature of Authorized Signatory


K. Ian Matheson                           Carol Jean Ager
Name of Authorized Signatory              Name of Authorized Signatory


President                                 President
Position of Authorized Signatory          Position of Authorized Signatory



SIGNED, SEALED AND DELIVERED



BY K. IAN MATHESON in the presence of:


/s/ Bill Trempe


Signature of Witness


/s/ K. Ian Matheson
Bill Trempe                               K. IAN MATHESON
Name of Witness


651 Thousand Oaks


Address of Witness





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SIGNED, SEALED AND DELIVERED



BY MICHAEL D. ANDERSON in the presence of:


/s/ Betty R. Trempe                           /s/Michael D. Anderson
Signature of Witness                          MICHAEL D. ANDERSON


Betty R. Trempe


Name of Witness


2215 Lucerne Cir.


Henderson, NV


Address of Witness



SIGNED, SEALED AND DELIVERED



BY PATRICK I. MATHESON in the presence of:


/s/ K.I. Matheson                             /s/Patrick I. Matheson
Signature of Witness                          PATRICK I. MATHESON


K.I. Matheson


Name of Witness


2215 Lucerne Cir.


LV. NV.  89014


Address of Witness