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                                                                     EXHIBIT 4.2




                             EXAMPLE FORM OF WARRANT
                                (DO NOT EXECUTE)



SERIAL NO. W-___

         THIS WARRANT, AND ANY SECURITIES ACQUIRED UPON THE EXERCISE OF THIS
         WARRANT, HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
         AMENDED (THE "ACT"), OR THE SECURITIES LAWS OF ANY STATE, AND NEITHER
         THIS WARRANT, SUCH SECURITIES NOR ANY INTEREST THEREIN MAY BE SOLD,
         TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN
         EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT AND APPLICABLE STATE
         SECURITIES LAWS OR PURSUANT TO A WRITTEN OPINION OF COUNSEL
         SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

                          CANYON RESOURCES CORPORATION
                             a Delaware corporation

                             STOCK PURCHASE WARRANT

___________ shares                                                March 29, 2002

         THIS CERTIFIES THAT, for value received, _____________ ("Holder") is
entitled to subscribe for and purchase up to _____________ validly issued, fully
paid and nonassessable shares ("Warrant Shares") of Common Stock of Canyon
Resources Corporation, a Delaware corporation (the "Company"), at the exercise
price to be determined in accordance with Section 2 below (the "Exercise
Price"), subject to the terms, conditions and adjustments hereinafter set forth.

     1. Definitions. As used in this Warrant, in addition to other capitalized
terms defined elsewhere herein, the following terms have the meanings indicated:

                  "Act" means the Securities Act of 1933, as amended, and the
              Rules and Regulations promulgated thereunder.

                  "Business Day" means any day other than a Saturday, Sunday or
              a day on which national banks are authorized by law to close in
              the State of Colorado.

                  "Common Stock" means the authorized voting common stock of the
              Company.

                  "Exercise Date" has the meaning specified in Section 3(c)
              below.

                  "Exercise Form" means an Exercise Form in the form annexed
              hereto as Exhibit A.

                  "Exercise Period" has the meaning specified in Section 2(a)
              below.

                  "Expiration Date" means March 29, 2003.

                  "Issue Date" means the date this Warrant was issued to Holder,
              which is set forth on the first page of this Warrant.
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                  "Organic Change" has the meaning specified in Section 5(b)
              below.

     2.       Exercise of Warrant.

              a. Term of Warrant. Subject to the terms and conditions set forth
     below, this Warrant may be exercised, in whole or in part, by Holder at any
     time, or from time to time, during the term commencing on the Issue Date
     and ending at 5:00 p.m., Denver, Colorado time on the Expiration Date (the
     "Exercise Period"). This Warrant shall expire on the Expiration Date if and
     to the extent not exercised by Holder during the Exercise Period.

              b. Exercise Price. Subject to potential adjustment from time to
     time pursuant to Section 5 hereof, this Warrant shall be exercisable at an
     Exercise Price of $1.67 per share of Common Stock.

     3.       Method of Exercise; Payment; Stock Certificates.

              a. Method of Exercise; Payment of Exercise Price. The purchase
     rights represented by this Warrant may be exercised by Holder, in whole or
     in part, at any time, or from time to time, during the Exercise Period by
     the surrender of this Warrant (with a duly executed Exercise Form
     specifying the number of Warrant Shares to be purchased) at the principal
     office of the Company, and by the payment to the Company in cash, by
     certified, cashier's or other check acceptable to the Company, of an amount
     equal to the aggregate Exercise Price for those Warrant Shares specified in
     the Exercise Form.

              b. Stock Certificates. In the event of the exercise of the rights
     represented by this Warrant as provided above, the Company shall promptly
     issue and deliver to Holder a certificate representing the shares of Common
     Stock so purchased by Holder.

              c. When Exercise Effective. The exercise of this Warrant shall be
     deemed effective on the Business Day on which this Warrant is surrendered
     to the Company as provided in this Section 3 (the "Exercise Date"). If this
     Warrant is exercised in part, the Company at its expense will execute and
     deliver to Holder a new Warrant of like tenor exercisable for the number of
     Warrant Shares for which this Warrant may still thereafter be exercised.

     4. Stock Fully Paid; Reservation of Shares. All shares of Common Stock
issuable upon the exercise of the rights represented by this Warrant will, upon
issuance, be duly authorized, validly issued, fully paid and nonassessable, and
free of all taxes, liens and charges with respect to the issue thereof. During
the Exercise Period, the Company shall at all times have authorized and reserved
(or promptly hereafter shall take such actions as may be necessary or
appropriate to increase its authorized capital so as to be able to authorize and
reserve) a sufficient number of shares of its Common Stock to provide for the
exercise of the rights represented by this Warrant.

     5. Certain Adjustments.

              a. Capital Adjustments. The number of Warrant Shares purchasable
     upon the exercise of this Warrant and the Exercise Price then in effect
     pursuant to Section 2(b) shall be subject to adjustment as follows:


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                  (i) Stock Splits, Etc. If at any time after the Issue Date the
                  number of shares of Common Stock outstanding shall be
                  increased by a subdivision or split-up of shares of Common
                  Stock, or by a stock dividend or recapitalization, then
                  immediately after the effective date of such increase, as the
                  case may be, the number of Warrant Shares to be delivered upon
                  exercise of this Warrant will be increased so that Holder will
                  be entitled to receive the number of shares of Common Stock
                  that such Holder would have owned immediately following such
                  action had this Warrant been exercised immediately prior
                  thereto, and the Exercise Price will be adjusted as provided
                  below in paragraph (iii).

                  (ii) Combination of Stock. If at any time after the Issue Date
                  the number of shares of Common Stock outstanding shall be
                  decreased by a combination of shares of Common Stock, then,
                  immediately after the effective date of such combination, the
                  number of Warrant Shares to be delivered upon exercise of this
                  Warrant will be decreased so that Holder thereafter will be
                  entitled to receive the number of shares of Common Stock that
                  such Holder would have owned immediately following such action
                  had this Warrant been exercised immediately prior thereto, and
                  the Exercise Price will be adjusted as provided below in
                  paragraph (iii).

                  (iii) Exercise Price Adjustment. Whenever the number of
                  Warrant Shares purchasable upon the exercise of this Warrant
                  is adjusted as provided pursuant to this Section 5(a), the
                  Exercise Price payable upon the exercise of this Warrant shall
                  be adjusted by multiplying such Exercise Price immediately
                  prior to such adjustment by a fraction, of which the numerator
                  shall be the number of Warrant Shares purchasable upon the
                  exercise of the Warrant immediately prior to such adjustment,
                  and of which the denominator shall be the number of Warrant
                  Shares purchasable immediately thereafter.

              b. Reorganization, Reclassification, Consolidation, Merger or
     Sale. Any reorganization, recapitalization, reclassification,
     consolidation, merger, sale of all or substantially all of the Company's
     assets or other transaction, in each case which is effected in such a
     manner that the holders of Common Stock are entitled to receive (either
     directly or upon subsequent liquidation) cash, securities and/or other
     property with respect to or in exchange for Common Stock, is referred to
     herein as an "Organic Change". Prior to the consummation of any Organic
     Change, the Company shall make appropriate provision to ensure that Holder
     shall thereafter have the right to acquire and receive, in lieu of or in
     addition to (as the case may be) the shares of Common Stock immediately
     theretofore acquirable and receivable upon exercise of the rights
     represented by this Warrant, such cash, securities and/or other property as
     such Holder would have received in connection with such Organic Change if
     such Holder had exercised this Warrant immediately prior to such Organic
     Change. The Company shall not effect any Organic Change, unless prior to
     the consummation thereof, the successor entity (if other than the Company)
     resulting from the Organic Change assumes, by written instrument, the
     obligation to deliver to Holder such cash, securities and/or other property
     as, in accordance with the foregoing provisions, Holder may be entitled to
     acquire.



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              c. Similar Actions. In the case the Company, at any time or from
     time to time, shall take any action affecting its Common Stock similar to
     or having an effect similar to any of the actions described in Section 5(a)
     or (b) (but not including any action described in any such subsections) and
     the Board of Directors in good faith determines that it would be equitable
     in the circumstances to adjust the number of Warrant Shares and/or the
     Exercise Price as a result of such action, then, and in each such case, the
     number of Warrant Shares and/or the Exercise Price shall be adjusted in
     such manner and at such time as the Board of Directors of the Company in
     good faith determines would be equitable in the circumstances (such
     determination to be evidenced in a resolution, a certified copy of which
     shall be mailed to the Holder).

     6. Notices of Adjustment. Whenever the Exercise Price and/or the number of
Warrant Shares purchasable hereunder shall be adjusted pursuant to Section 5
hereof, the Company shall give written notice to Holder, setting forth in
reasonable detail the calculation of such adjustment. The Corporation shall also
give written notice to Holder at least 20 days prior to the date on which any
Organic Change shall take place.

     7. Replacement of Warrant. On receipt by the Company of an affidavit of an
authorized representative of Holder stating the circumstances of the loss,
theft, destruction or mutilation of this Warrant (and in the case of any such
mutilation, on surrender and cancellation of this Warrant), the Company, at its
expense, shall promptly execute and deliver, in lieu thereof, a new Warrant of
like tenor.

     8. Restrictive Legends.

              a. Each Warrant issued in substitution for this Warrant shall be
     stamped or otherwise imprinted with a legend in substantially the following
     form:

                  THIS WARRANT, AND ANY SECURITIES ACQUIRED UPON THE EXERCISE OF
                  THIS WARRANT, HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
                  ACT OF 1933, AS AMENDED (THE ACT"), OR THE SECURITIES LAWS OF
                  ANY STATE, AND NEITHER THIS WARRANT, SUCH SECURITIES NOR ANY
                  INTEREST THEREIN MAY BE SOLD, TRANSFERRED, PLEDGED OR
                  OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE
                  REGISTRATION STATEMENT UNDER THE ACT AND APPLICABLE STATE
                  SECURITIES LAWS OR PURSUANT TO A WRITTEN OPINION OF COUNSEL
                  SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT
                  REQUIRED.

              b. Each certificate for Warrant Shares issued upon the exercise of
     this Warrant shall be stamped or otherwise imprinted with legends in
     substantially the following form:

                  THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN
                  REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
                  "ACT"), OR THE SECURITIES LAWS OF ANY STATE. THE SECURITIES
                  MAY NOT BE SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF
                  EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER
                  THE ACT

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                  AND APPLICABLE STATE SECURITIES LAWS OR PURSUANT TO A WRITTEN
                  OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH
                  REGISTRATION IS NOT REQUIRED.

     9. No Rights as Stockholder. This Warrant shall not entitle its Holder to
any of the rights of a stockholder of the Company.

     10. Notices. All notices and communications under this Warrant shall be in
writing and shall be either delivered in person accompanied by a signed receipt
therefor or mailed first-class United States certified mail, return receipt
requested, postage prepaid, and addressed as follows:

                  (i)    if to the Company, to:

                         Canyon Resources Corporation
                         14142 Denver West Parkway, Suite 250
                         Golden, Colorado 80401

                  (ii)   if to Holder, to the address of Holder as it appears in
                         the books of the Company.

Any notice or communication shall be deemed given when received.

     11. Governing Law. This Warrant shall be governed by and construed and
enforced in accordance with the laws of the State of Colorado.

                                         CANYON RESOURCES CORPORATION


                                         By:
                                            ------------------------------------
                                            Richard H. De Voto, President




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                                  - Exhibit A -

                                  EXERCISE FORM

                  (To be executed upon exercise of the Warrant)

         Reference is made to the attached Stock Purchase Warrant. The
undersigned hereby irrevocably elects to exercise the right, represented by the
attached Warrant, to purchase __________ Warrant Shares and herewith tenders
payment for such Warrant Shares to the order of Canyon Resources Corporation in
the amount of $__________ in accordance with the terms of the Warrant. The
undersigned requests that a certificate for such Warrant Shares be registered in
the name of the undersigned and that such certificate be delivered to the
undersigned's address below.

         If such number of Warrant Shares purchased shall not be all of the
Warrant Shares evidenced by the Warrant, the undersigned requests that a new
Warrant of like tenor for the balance remaining of such Warrant Shares be
registered in the name of the undersigned and that such Warrant be delivered to
the undersigned's address below.

         Dated:  ___________________


                                         _____________________________________
                                         Signature

                                         _____________________________________
                                         (Print Name and Title, if applicable)


                                         _____________________________________
                                         (Street Address)


                                         _____________________________________
                                         (City)  (State)  (Zip Code)

Signed in the presence of:


_____________________________________




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