Filed by Automated Filing Services Inc. (604) 609-0244 - Nord Resourcs Corporation - Exhibit 10.5






NORD RESOURCES CORPORATION 
STOCK OPTION

WHEREAS, Erland A. Anderson holds stock options (the “Existing
Options”) entitling him to purchase up to 675,000 shares of common stock of the
Corporation at an exercise price of $0.02 per share, being the market price of
one share of common stock on the date of grant;

WHEREAS, the Corporation is seeking at least $18,000,000 in
financing to facilitate the reactivation of the Johnson Camp Mine;

WHEREAS, the Board of Directors, in consultation with the
Corporation’s financial advisors, has determined that the concentration of the
Existing Options in the hands of an insider of the Corporation, at an exercise
price that is significantly below the current market price of the Corporation’s
common stock, may materially and negatively affect the Corporation’s ability to
seek the required financing on terms that are commercially acceptable to the
Corporation;

WHEREAS, the average closing bid price of the Corporation’s
common stock during the ten trading days ended January 31, 2006 was $0.39 per
share;

WHEREAS Mr. Anderson wishes to help facilitate the
Corporation’s continuing efforts to raise the required financing by voluntarily
surrendering the Existing Options to the Corporation for cancellation, and
receiving in exchange therefor, new options entitling him to purchase up to
675,000 shares of common stock at an exercise price of $0.50 per share;

WHEREAS, Mr. Anderson has disclosed that he is interested in
the transactions contemplated hereby, and has furnished the Board of Directors
with a notice of disclosure of interest;

AND WHEREAS the Board of Directors has approved by Unanimous
Consent the grant of the common share options as listed below.

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NORD RESOURCES CORPORATION, a Delaware corporation (the
"Company"), hereby grants to Erland Anderson ("Optionee"), effective February 1,
2006 ("Date of Grant"), as a separate inducement and agreement in connection
with Optionee's services to the Company and not in lieu of any other
compensation or fees paid to the Optionee for services, the right and option to
purchase 675,000 shares of Common Stock of the Company ("Shares") at the
purchase price of U.S.$0.50 per Share (the "Option").

The Option is granted upon the
following terms:

	 	1. 	
      Subject to subparagraph 4 below, the Option shall expire
      at the close of business on February 1, 2011

	 	 	 
	 	2. 	
      The Option is exercisable at any time, in whole or in
      part, subject to the provisions of subparagraphs 3 and 4 below.

	 	 	 
	 	3. 	
      The Optionee shall vest 100% immediately.

	 	 	 
	 	4. 	
      In the event Optionee dies or becomes permanently
      disabled, the Option may be exercised within two (2) years after the date
      of death or permanent disability by the person or persons (including the
      Optionee's estate) to whom the Optionee's rights under the Option shall
      have passed by will or by the laws of descent and distribution or by the
      Optionee or his or personal representatives, as the case may be. Under no
      circumstances, however, may the Option be exercised after the expiration
      date of the Option specified in subparagraph 1 above.

	 	 	 
	 	5. 	
      The Option may not be assigned, transferred, pledged or
      otherwise encumbered by Optionee other than by will or the laws of descent
      and distribution; the Option may not be subject to execution, attachment,
      or similar process; and the Option may be exercised during the lifetime of
      Optionee only by Optionee.

	 	 	 
	 	6. 	
      Payment for all Shares purchased to exercise the Option
      shall be made in cash or by certified check, money order or by personal
      check (if approved by the Board of Directors). In lieu of a check, the
      Optionee may, with the approval of the Board of Directors in its sole
      discretion,



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      submit certificates for stock of the Company tendered as
      full or partial payment of the option exercise price. Certificates for
      stock tendered must be endorsed or accompanied by signed stock powers with
      the signature guaranteed by the commercial bank or trust company or by a
      brokerage firm acceptable to the Company. Stock tendered in payment will
      be valued at its fair market value on the date of exercise of the Option.
      Any deficiency in the option exercise price shall be paid by certified
      check. Such payment shall be made at the time that the Option or any part
      thereof is exercised and no Shares shall be issued or delivered until full
      payment therefor has been made.

	 	 	 
	 	7. 	
      If and to the extent that the number of issued shares of
      common stock of the Company shall be increased or reduced by change in par
      value, split up, reclassification, distribution of a dividend payable in
      stock or the like, the number of shares subject to the Option and the
      option price per share shall be proportionately adjusted. If the Company
      shall be involved in any merger or consolidation, recapitalization,
      reclassification of shares or similar reorganization, the holder of this
      Option shall be entitled to purchase, at the same times and upon the same
      terms and conditions as are then provided in this Option, the number and
      class of shares of stock or other securities to which a holder of the
      number of shares of stock subject to this Option at the time of such
      transaction would have been entitled to receive as a result of such
      transaction. Except as expressly provided in this Section 7, the holder of
      this Option shall have no rights by reason of any subdivision or
      combination of shares of stock of any class or the payment of any stock
      dividend or any other increase or decrease in the number of shares of
      stock or any class or by reason of any dissolution, liquidation, merger or
      consolidation or distribution to the Company's shareholders of assets or
      stock of another corporation. Except as expressly provided herein, any
      issue by the Company of shares of stock of any class, or securities
      convertible into shares of stock of any class, shall not affect, and no
      adjustment by reason thereof shall be made with respect to, the number or
      price of Shares of stock subject to this Option.

	 	 	 
	 	8. 	
      Optionee shall have no rights as a stockholder with
      respect to the Option until payment of the option price and delivery to
      him of the Shares as herein provided.



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	 	9. 	 This Option Agreement shall be governed by and construed
        in accordance with the laws of Delaware, without giving effect to principals
        of conflict of laws.

	 	 	 
	 	10. 	 Neither this Option Agreement nor the Shares are registered
        under the Securities Act of 1933, as amended. This Option is subject to
        the condition that if at any time the listing, registration or qualification
        of the Shares covered by this Option upon any securities exchange or under
        any state or federal law is necessary or desirable as a condition of or
        in connection with the purchase or delivery of Shares hereunder, the delivery
        of any or all Shares pursuant to this Option may be withheld unless and
        until such listing, registration or qualification shall have been effected.
        If a registration statement is not in effect under the Securities Act
        of 1933 or any applicable state securities laws with respect to the Shares
        purchasable or otherwise deliverable under this Option, the Company may
        require, as a condition of exercise of this Option, that the Optionee
        represent, in writing, that the Shares received pursuant to this Option
        are being acquired for investment and not with a view to distribution
        and agree that the Shares will not be disposed of except pursuant to an
        effective registration statement, unless the Company shall have received
        an opinion of counsel that such disposition is exempt from such requirement
        under the Securities Act of 1933 and any applicable state securities laws.
        The Company may endorse on certificates representing Shares delivered
        pursuant to this Option such legends referring to the foregoing representations
        or restrictions or any other applicable restrictions on resale as the
        Company, in its discretion, shall deem appropriate.

	 	 	 
	 	11. 	 This Option Agreement shall inure to the benefit of
        and be binding upon the parties hereto and their respective heirs, executors,
        administrators, successors and assigns.



IN WITNESS WHEREOF, the Company has executed this Option
as of the 1st day of February, 2006.

[SIGNATURES TO APPEAR ON THE FOLLOWING PAGE]

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NORD RESOURCES CORPORATION

By:           
  /s/ John T. Perry                         
  

  John T. Perry
Senior Vice President and Chief Financial Officer

	ATTEST: 	 
	  	 
	  	 
	/s/ Kathy
    Glidewell	 
	Kathy Glidewell 	 
	Assistant Secretary 	 


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