This excerpt from your post;

Subsequent to the end of the 2012 fiscal year we initiated field studies on the property in preparation for diamond drilling. The economic targets at the property are gold and silver. The first phase drilling program has a budget of $2.5 million and consists of approximately 10,000 metres of drilling. We expect Intigold will pay for a majority of the drilling program.

The option agreement looks like it was changed from the initial one, the above implies that SLI will share in a working interest( compelling SLI to share in costs), as where before, IGD was responsible for soley advancing this project for SLI. I will make this clear, the usual reason for optioning out properties, is to get someone else to spend the money to aquire their interest in the property as their reward, the way this optiion agreement appears to be changed, it would suggest a Joint Venture Agreement. The BOD would have to most likely approve this with the best interests of shareholders in mind, them included. Whoever drew up this new legal document must have been well aware of any conflicts of interest that may arise?

IMO as well