**EXHIBIT      10.19**

**SUBSCRIPTION      FOR FLOW-THROUGH SHARES**

**TO:**
**Oilsands      Quest Inc. (the "Corporation")**

*Income      Tax Act*

|  **CanWest Petroleum                Corporation**                                                                                          |                                                                         | **Aggregate                  Subscription Amount: $37,409,503.34** |
|------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------|--------------------------------------------------------------------|
|  Full Legal Name of Subscriber                (please print)                                                                                    |                                                                         |                                                                    |
|                                                                                                                                                 |                                                                         |                                                                    |   |
| By:                                                                                                                                                  |                                                                    |                                                               |   |
|                                                                                                                                                 | Signature of Subscriber or its Authorized                Representative |                                                               | **Number                of Flow-Through Shares: 703,054** |
|                                                                                                                                                 |                                                                    |                                                               |
| **Chairman                and Chief Executive Officer**                                                                                         |                                                                    |                                                               |
| Official                  Title or Capacity (please print)                                                                                           |                                                                    |                                                               |
|                                                                                                                                                 |                                                                    |                                                               |
| **T.                  Murray Wilson**                                                                                                           |                                                                    |                                                               |
| Name                of Signatory (please print name of individual whose signature appears                above if different than name of Subscriber) |                                                                    |                                                               |
|                                                                                                                                                 |                                                                    |                                                               |
|                                                                                                                                                 |                                                                    |                                                               |
| Subscriber's                Address (including postal code)                                                                                          |                                                                    |                                                               |
|                                                                                                                                                 |                                                                    |                                                               |
|                                                                                                                                                      |                                                                    |                                                               |
|                                                                                                                                                 |                                                                    |                                                               |
|                                                                                                                                                 |                                                                    |                                                               |
| Telephone Number (including                area                code)                                                                                 |                                                                    |                                                               |
|                                                                                                                                                      |                                                                    |                                                               |
|                                                                                                                                                      |                                                                    |                                                               |
| e-mail Address                                                                                                                                       |                                                                    |                                                               |
|                                                                                                                                                 |                                                                    |                                                               |
|                                                                                                                                                 |                                                                    |                                                               |
| Social Insurance Number                or Business                Number, as applicable                                                              |                                                                    |                                                               |
|                                                                                                                                                 |                                                                    |                                                               |

| **Register the                Flow-Through                Shares (if different from address above) as follows:** |   | **Deliver                the Flow-Through Shares (if different from address above) as                follows:** |
|------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------------------------------------------------------------------------------|
|                                                                                                             |   |                                                                                                            |
|                                                                                                                  |   |                                                                                                            |
| Name                                                                                                             |   | Name                                                                                                            |
|                                                                                                             |   |                                                                                                            |
|                                                                                                             |   |                                                                                                            |
|  Account                reference, if applicable                                                            |   | Account reference, if applicable                                                                                |
|                                                                                                             |   |                                                                                                            |
|                                                                                                             |   |                                                                                                            |
| Address                (including postal code)                                                                   |   | Contact Name                                                                                                    |
|                                                                                                             |   |                                                                                                            |
|                                                                                                             |   |                                                                                                            |
|                                                                                                             |   | Address                (including postal code)                                                                  |
|                                                                                                             |   |                                                                                                            |
|                                                                                                             |   |                                                                                                            |
|                                                                                                             |   |                                                                                                            | Telephone                Number (including area code) |
|                                                                                                             |   |                                                                                                            |   |

**ACCEPTANCE:**

| **OILSANDS              QUEST INC.**  |   | July 5,              2006 |
|--------------------------------------------|--------|---------------------------|

|             |   |   |   |
|------------------|--------|--------|--------|
| Per:   |        |   | No:    |

*This      is the first page of an agreement comprised of 9 pages.*

----

| *Oilsands                Quest Inc.* *Subscription                Agreement for Flow-Through Shares* | *Page                2 of                9* |
|-----------------------------------------------------------------------------------------------------------|---------------------------------------------|
|                                                                                                      |                                        |

**TERMS      AND CONDITIONS OF SUBSCRIPTION FOR**

**FLOW-THROUGH      SHARES OF OILSANDS QUEST INC.**

| **1.  ** | **Definitions****.**              In              this Subscription Agreement: |
|--------------------|--------------------------------------------------------------------------------|

| (a)   | "Act"              means the *Income              Tax Act*              (Canada), together with any and all regulations promulgated thereunder,              as              amended from time to time; |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b)   | "Aggregate              Subscription Amount" means the aggregate dollar amount of the subscription              under this Subscription Agreement; |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------|

| (c)   | "Closing              Date" means such date(s) as the Corporation and the Subscriber may              determine; |
|-----------------|------------------------------------------------------------------------------------------------------------------|

| (d)   | "Closing              Time" shall have the meaning ascribed thereto in Section 8              hereof; |
|-----------------|-------------------------------------------------------------------------------------------------------|

| (e)   | "Commitment              Amount" means the amount of $37,409,503.34; |
|-----------------|----------------------------------------------------------------------|

| (f)   | "Common              Shares" means common shares in the capital of the              Corporation; |
|-----------------|--------------------------------------------------------------------------------------------------|

| (g)   | "Corporation"              means Oilsands Quest Inc., a corporation incorporated under the              *Business              Corporations Act*              (Alberta); |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (h)   | "Expenditure              Period" means the period commencing on the date of acceptance of this              Subscription Agreement and ending on the earlier              of: |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (i)   | the              date on which the Commitment Amount has been fully expended in accordance              with the terms hereof, and |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------|

| (ii)   | December              31, 2007; |
|------------------|---------------------------------|

| (i)   | "Flow-Through              Share" means a Common Share purchased by the Subscriber under this              Subscription Agreement issued on a flow-through basis in accordance              with              subsection 66(15) of the Act; |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (j)   | "Offering"              shall have the meaning ascribed thereto in Section 2(b) hereof; |
|-----------------|-----------------------------------------------------------------------------------------|

| (k)   | "principal-business              corporation" means a principal-business corporation as defined in              subsection 66(15) of the Act; |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------|

| (l)   | "Qualifying              Expenditures" means, when incurred in 2006, Canadian exploration expense              described in subsection 66.1(6) of the Act and, when incurred in 2007,              means Canadian exploration expense described in paragraphs (a), (d)              or (f)              of the definition "Canadian exploration expense" in subsection 66.1(6)              of              the Act or which would be included in paragraph (h) of such definition              if              the reference therein to "paragraphs (a) to (d) and (f) to (g.1)" were              read as "paragraphs (a), (d) or (f)", excluding amounts which are              prescribed to constitute "Canadian exploration and development overhead              expense" under paragraph 66(12.6)(b) of the Act, amounts which are              a cost              of, or for the use of, certain seismic data within the meaning of              paragraph 66(12.6)(b.1) of the Act, and the amount of any assistance              described in paragraph 66(12.6)(a) of the              Act; |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (m)   | "United              States" means the United States of America, its territories and              possessions, any state of the United States, and the District of              Columbia. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **2.  ** | **Acknowledgements              of the Subscriber****.**              The Subscriber acknowledges that: |
|--------------------|---------------------------------------------------------------------------------------------------------|

| (a)   | this              subscription is effective only upon acceptance by the Corporation;              and |
|-----------------|-------------------------------------------------------------------------------------------------------|

| **(b)  ** | **the              Subscriber is responsible for obtaining such legal advice as it considers              appropriate in connection with the execution, delivery and performance              by              it of this Subscription              Agreement.** |
|---------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **3.  ** | **Representations,              Warranties and Covenants of the Subscriber****.**              By              executing this Subscription Agreement, the Subscriber represents, warrants              and covenants to the Corporation (and acknowledges that the Corporation              and its counsel are relying thereon)              that: |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (a)   | the              Subscriber has the requisite power, authority, legal capacity and              competence to execute and deliver this Subscription Agreement, to perform              all of its obligations hereunder, and to undertake all actions required              of              the Subscriber hereunder, and all necessary approvals of its directors,              partners, shareholders, trustees or otherwise with respect to such              matters              have been given or obtained; |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| *Oilsands                  Quest Inc.* *Subscription                  Agreement for Flow-Through Shares* | *Page 3of                  9* |
|---------------------------------------------------------------------------------------------------------------|------------------------------------|
|                                                                                                          |                               |

| (b)   | the              Subscriber is duly incorporated and validly subsisting under the laws              of              its jurisdiction of incorporation; |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------|

| (c)   | this              Subscription Agreement has been duly and validly authorized, executed              and              delivered by, and constitutes a legal, valid, binding and enforceable              obligation of, the Subscriber, subject to applicable bankruptcy,              insolvency, reorganization and other laws of general application limiting              the enforcement of creditors' rights generally and to the general              principles of equity including the fact that specific performance is              available only in the discretion of the              court; |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (d)   | the              execution, delivery and performance by the Subscriber of this Subscription              Agreement and the completion of the transactions contemplated hereby              do              not and will not result in a violation of any law, regulation, order              or              ruling applicable to the Subscriber, and do not and will not constitute              a              breach of or default under any of the Subscriber's constating documents              or              any agreement to which the Subscriber is a party or by which it is              bound; |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (e)   | the              Subscriber confirms that the Subscriber: |
|-----------------|-----------------------------------------------------------|

| (i)   | has              such knowledge in financial and business affairs as to be capable of              evaluating the merits and risks of its investment in the Flow-Through              Shares; |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (ii)   | is              capable of assessing the proposed investment in the Flow-Through Shares              as              a result of the Subscriber's own experience or as a result of advice              received from a person registered under applicable securities              legislation; |
|------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (iii)   | is              aware of the characteristics of the Flow-Through Shares and the risks              relating to an investment therein; and |
|-------------------|-------------------------------------------------------------------------------------------------------------------------------------------|

| (iv)   | is              able to bear the economic risk of loss of its investment in the              Flow-Through Shares; |
|------------------|-------------------------------------------------------------------------------------------------------------------|

| (f)   | the              Subscriber understands that no securities commission, stock exchange,              governmental agency, regulatory body or similar authority has made              any              finding or determination or expressed any opinion with respect to the              merits of investing in the Flow-Through              Shares; |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (g)   | the              Subscriber acknowledges that no prospectus has been filed by the              Corporation with any securities commission or similar regulatory authority              in any jurisdiction in connection with the issuance of the Flow-Through              Shares and the issuance is exempted from the prospectus requirements              available under the provisions of applicable securities laws and as              a              result: |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (i)   | the              Subscriber may be restricted from using some of the civil remedies              otherwise available under applicable securities              laws; |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (ii)   | the              Subscriber may not receive information that would otherwise be required              to              be provided to it under applicable securities laws;              and |
|------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (iii)   | the              Corporation is relieved from certain obligations that would otherwise              apply under applicable securities laws; |
|-------------------|---------------------------------------------------------------------------------------------------------------------------------------------|

| (h)   | the              Subscriber confirms that neither the Corporation nor any of its              representative directors, employees, officers or affiliates, have made              any              representations (written or oral) to the              Subscriber: |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (i)   | regarding              the future value of the Flow-Through              Shares; |
|-----------------|----------------------------------------------------------------------------------|

| (ii)   | that              any person will resell or repurchase the Flow-Through Shares; |
|------------------|---------------------------------------------------------------------------------|

| (iii)   | that              the Flow-Through Shares will be listed on any stock exchange or traded              on              any market; or |
|-------------------|--------------------------------------------------------------------------------------------------------------------------------------|

| (iv)   | that              any person will refund the purchase price of the Flow-Through Shares              other              than as provided in this Subscription              Agreement; |
|------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (i)   | the              Subscriber confirms that it has been advised to consult its own legal              and              financial advisors with respect to the suitability of the Flow-Through              Shares as an investment for the Subscriber, the tax consequences of              purchasing and dealing with the Flow-Through Shares, and the resale              restrictions and "hold periods" to which the Flow-Through Shares are              or              may be subject under applicable securities legislation or stock exchange              rules, and has not relied upon any statements made by or purporting              to              have been made on behalf of the Corporation with respect to such              suitability, tax consequences, and resale              restrictions; |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| *Oilsands                  Quest Inc.* *Subscription                  Agreement for Flow-Through Shares* | *Page 4of                  9* |
|---------------------------------------------------------------------------------------------------------------|------------------------------------|
|                                                                                                          |                               |

| (j)   | except              for the Subscriber's knowledge regarding its subscription for Flow-Through              Shares hereunder, the Subscriber has no knowledge of a "material fact"              or              a "material change" (as those terms are defined in the *Securities              Act*              (Alberta)) in the affairs of the Corporation that has not been generally              disclosed; |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (k)   | the              Subscriber is resident in the jurisdiction indicated on the face page              of              this Subscription Agreement as the "Subscriber's Address" and the purchase              by and sale to the Subscriber of the Flow-Through Shares, and any act,              solicitation, conduct or negotiation directly or indirectly in furtherance              of such purchase and sale has occurred only in such jurisdiction and              the              Subscriber was not offered the Flow-Through Shares, and did not execute              or              deliver this Subscription Agreement, in the United              States; |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (l)   | it              is purchasing the Flow-Through Shares as principal for its own account,              not for the benefit of any other person, and not with a view to the              resale              or distribution of all or any of the Flow-Through Shares, and the              aggregate acquisition cost of the Flow-Through Shares to it is not              less              than Cdn. $150,000 and the Subscriber was not created or used solely              to              purchase or hold securities in reliance on this section; |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (m)   | if              the Subscriber** **does              not comply with subsection 3(l) above, the Subscriber's purchase of              Flow-Through Shares hereunder would, if completed, be made pursuant              to an              exemption from the prospectus and registration requirements under              applicable securities legislation (particulars of which exemption are              enclosed herewith), and the Subscriber will deliver to the Corporation              such further particulars of the exemption(s) and evidence of the              Subscriber's qualifications thereunder as the Corporation may request; |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (n)   | the              Subscriber understands that it may not be able to resell the Flow-Through              Shares except in accordance with limited exemptions available under              applicable securities legislation, regulatory policy and stock exchange              rules, and that the Subscriber is solely responsible for (and the              Corporation is not in any way responsible for) the Subscriber's compliance              with applicable resale restrictions; |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (o)   | the              Subscriber will not resell any of the Flow-Through Shares except in              accordance with the provisions of applicable securities legislation              and              stock exchange rules; |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (p)   | the              Subscriber understands that any certificates representing the Flow-Through              Shares will bear a legend indicating that the resale of such securities              is              restricted; |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (q)   | the              Subscriber acknowledges that it is aware that there is no market upon              which the Flow-Through Shares trade and there is no assurance that              the              Flow-Through Shares will be listed and posted for trading on a stock              exchange or dealer network in the future; |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (r)   | the              Subscriber understands that the sale of the Flow-Through Shares is              conditional upon such sale being exempt from the requirements to file              and              obtain a receipt for a prospectus or to deliver an offering memorandum,              and the requirement to sell securities through a registered dealer,              or              upon the issuance of such orders, consents or approvals as may be required              to enable such sale to be made without complying with such requirements,              and that as a consequence of acquiring the Flow-Through Shares pursuant              to              such exemptions, certain protections, rights and remedies provided              by              applicable securities legislation, including statutory rights of              rescission or damages in the event of a misrepresentation will not              be              available to the Subscriber in connection with the purchase and sale              of              the Flow-Through Shares; |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (s)   | the              Subscriber has not received or been provided with, nor has it requested,              nor does it have any need to receive, any offering memorandum, or any              other document (other than the annual financial statements, interim              financial statements or any other document (excluding offering memoranda,              prospectuses or other offering documents) the content of which is              prescribed by statute or regulation) describing the business and affairs              of the Corporation, which has been prepared for delivery to and review              by              prospective purchasers in order to assist them in making an investment              decision in respect of the purchase of Flow-Through Shares pursuant              to the              Offering; |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| *Oilsands                  Quest Inc.* *Subscription                  Agreement for Flow-Through Shares* | *Page 5of                  9* |
|---------------------------------------------------------------------------------------------------------------|------------------------------------|
|                                                                                                          |                               |

| (t)   | the              Subscriber has not become aware of any advertisement in printed media              of              general and regular paid circulation or on radio, television or other              form              of telecommunication or any other form of advertisement (including              electronic display or the Internet) or sales literature with respect              to              the distribution of the Flow-Through              Shares; |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (u)   | the              Subscriber is aware that the Flow-Through Shares have not been and              will              not be registered under the United States *Securities              Act of 1933*,              as amended (the "U.S. Securities Act") or the securities laws of any              state              of the United States and that the Flow-Through Shares may not be offered              or sold, directly or indirectly, in the United States unless registered              under the U.S. Securities Act and any applicable state securities laws              or              in compliance with the requirements of an exemption from registration              therefrom and it acknowledges that the Corporation has no present              intention of filing a registration statement under the U.S. Securities              Act              or any applicable state securities laws* *in              respect of the Flow-Through Shares; |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (v)   | the              Subscriber undertakes and agrees that it will not offer or sell any              of the              Flow-Through Shares in the United States unless such securities are              registered under the U.S. Securities Act and the securities laws of              all              applicable states of the United States, or an exemption from such              registration requirements is available; |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (w)   | the              Subscriber acknowledges that, in addition to any other requirements              under              applicable securities legislation to which a disposition of the              Flow-Through Shares by the Subscriber may be subject, the Subscriber              may,              depending on the nature of the disposition, be required to file a report              of exempt trade within ten (10) days of a disposition by the Subscriber              of              the Flow-Through Shares; |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (x)   | if              required by applicable securities legislation, regulations, rules,              policies or orders or by any securities commission, stock exchange              or              other regulatory authority, the Subscriber will execute, deliver, file              and              otherwise assist the Corporation in filing, such reports, undertakings              and              other documents with respect to the issue of the Flow-Through              Shares; |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (y)   | except              as disclosed in writing to the Corporation, the Subscriber does not              act              jointly or in concert with any other person or company for the purposes              of              acquiring securities of the Corporation; |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (z)   | the              Subscriber has not relied upon any verbal or written representation              as to              fact or otherwise made by or on behalf of the Corporation except as              expressly set forth herein; |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (aa)   | the              funds representing the Aggregate Subscription Amount which will be              advanced by the Subscriber to the Corporation hereunder will not represent              proceeds of crime for the purposes of the *Proceeds              of Crime (Money Laundering) and Terrorist Financing Act*              (Canada) and the Subscriber acknowledges that the Corporation may in              the              future be required by law to disclose the Subscriber's name and other              information relating to this Subscription Agreement and the Subscriber's              subscription hereunder, on a confidential basis, pursuant to the              *Proceeds              of Crime (Money Laundering) and Terrorist Financing Act*              (Canada). To the best of its knowledge: (i) none of the subscription              funds              to be provided by the Subscriber: (A) have been or will be derived              from or              related to any activity that is deemed criminal under the law of Canada,              the United States of America, or any other jurisdiction; or (B) are              being              tendered on behalf of a person or entity who has not been identified              to              the Subscriber; and (ii) it shall promptly notify the Corporation if              the              Subscriber discovers that any of such representations ceases to be              true,              and to provide the Corporation with appropriate information in connection              therewith; |
|------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (bb)   | the              Subscriber has not and will not knowingly enter into any agreement              or              arrangement which will cause the Flow Through Shares to be or become              "prescribed shares" for purposes of the              Act; |
|------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (cc)   | the              Subscriber is related to the Corporation within the meaning of the              Act and              will continue to be related to the Corporation up to and including              January              1, 2008; and |
|------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (dd)   | **the              Subscriber acknowledges that an investment in the Flow-Through Shares              is              subject to a number of risk factors. In particular, the Subscriber              acknowledges that the Corporation is not a reporting issuer in any              province of Canada and, as such, the applicable hold period may never              expire. Accordingly, there is currently no market for any of the              Flow-Through Shares, and one may never develop. It may be difficult              or              even impossible for a Subscriber to sell any of the Flow-Through Shares.              Resale of such Flow-Through Shares will require the availability of              exemptions from the prospectus requirements of applicable securities              legislation, or the application for a discretionary order of the              securities commission or similar regulatory authority in the subscriber's              province of residence permitting the trade. The Subscriber covenants              and              agrees to comply with applicable securities legislation concerning              the              purchase, holding of, and resale of the Flow-Through              Shares.** |
|------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| *Oilsands                Quest Inc.* *Subscription                Agreement for Flow-Through Shares* | *Page 6of                9* |
|-----------------------------------------------------------------------------------------------------------|----------------------------------|
|                                                                                                      |                             |

| **4.  ** | **Timeliness              of Representations, etc****.**              The Subscriber agrees that the representations, warranties and covenants              of the Subscriber herein will be true and correct both as of the execution              of this Subscription Agreement and as of the Closing Time (as defined              herein), and will survive the completion of the distribution of the              Flow-Through Shares. |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **5.  ** | **Indemnity****.**              The Subscriber acknowledges that the Corporation and its counsel are              relying upon the representations, warranties and covenants of the              Subscriber set forth herein in determining the eligibility (from a              securities law perspective) of the Subscriber to purchase Flow-Through              Shares under the Offering, and hereby agrees to indemnify the Corporation              and its directors, officers, employees, advisers, affiliates, shareholders              and agents (including their respective legal counsel) against all losses,              claims, costs, expenses, damages or liabilities that they may suffer              or              incur as a result of or in connection with their reliance on such              representations, warranties and covenants. The Subscriber undertakes              to              immediately notify the Corporation's counsel at TingleMerrett LLP,              1250,              639 - 5th              Avenue S.W., Calgary, Alberta T2P 0M9, Attention: Jeff Helper, of any              change in any statement or other information relating to the Subscriber              set forth herein that occurs prior to the Closing Time. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **6.  ** | **Deliveries              by Subscriber prior to Closing****.**The              Subscriber agrees to deliver to the Corporation, not later than 5:00              p.m.              (Calgary time) on the date which is the business day before the Closing              Date: |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (a)   | this              duly completed and executed Subscription              Agreement; |
|-----------------|------------------------------------------------------------------------------------|

| (b)   | a              certified cheque or bank draft made payable to "Oilsands Quest Inc."              in an              amount equal to the Aggregate Subscription Amount, or payment of the              same              amount in such other manner as is acceptable to the Corporation;              and |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (c)   | such              other documents as may be requested by the Corporation as contemplated              by              this Subscription Agreement. |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------|

| **7.  ** | **Consent              to Collection of Personal Information****.**              If              the Subscriber is an individual, the Subscriber acknowledges that the              Subscriber has provided, in this Subscription Agreement, to the              Corporation information (the "**Personal              Information**")              of a personal nature that may or may not be protected under applicable              privacy legislation. This information is being collected, used and              may be              disclosed by the Corporation for the following purposes (the "**Purposes**"): |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (a)   | in              order to complete the Offering; |
|-----------------|-------------------------------------------------|

| (b)   | to              be kept in the corporate records of the Corporation, on its securities              registers and shareholders lists, maintained by the Corporation and/or              the              Corporation's transfer agent; |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (c)   | to              be disclosed to securities/tax regulatory authorities or other government              bodies as required and in accordance with applicable securities laws              and              tax laws; |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (d)   | as              long as the Subscriber is a shareholder of the Corporation, to be              disclosed to other third parties held to an obligation of confidentiality              to the Corporation such as its legal counsel, its accountants, transfer              agent, securities depository, or any other entity for: (i) the purpose              of              sending financial statements and other disclosure documentation required              to be sent by law to the shareholders of the Corporation, and/or (ii)              in              the context of a proposed merger, business combination, acquisition,              takeover bid or such other major transaction involving the Corporation              and              such other third party; and |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (e)   | to              enforce the obligations contemplated by this Subscription              Agreement. |
|-----------------|---------------------------------------------------------------------------------------------------|

| **8.  ** | **Time              and Place of Closing****.**              The sale of the Flow-Through Shares will be completed at the offices              of              Macleod Dixon LLP, counsel to the Subscriber, in Calgary, Alberta at              10:00              a.m. (Calgary time) or such other time as the Corporation and the              Subscriber may agree (the "Closing Time") on the Closing              Date. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| *Oilsands                Quest Inc.* *Subscription                Agreement for Flow-Through Shares* | *Page 7of                9* |
|-----------------------------------------------------------------------------------------------------------|----------------------------------|
|                                                                                                      |                             |

| **9.  ** | **Deliveries              at Closing****.**              At              the Closing Time, this Subscription Agreement and the aggregate              subscription proceeds will be delivered to the Corporation, against              delivery by the Corporation of a certificate(s) representing the              Flow-Through Shares. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **10.  ** | **Representations              and Warranties of the Corporation****.**              The Corporation hereby represents and warrants to the Subscriber (and              acknowledges that the Subscriber is relying thereon)              that: |
|---------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (a)   | the              Corporation has the full corporate right, power and authority to execute              and deliver this Subscription Agreement and to issue the Flow-Through              Shares to the Subscriber and to incur and renounce to the Subscriber              Qualifying Expenditures in an amount equal to the Commitment              Amount; |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b)   | the              Corporation is duly incorporated and validly subsisting, and is qualified              to carry on business in each jurisdiction in respect of which the carrying              out of the activities contemplated hereby make such qualification              necessary; |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (c)   | the              Corporation has complied or will comply with all applicable corporate              and              securities laws in connection with the offer and sale of the Flow-Through              Shares; |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (d)   | upon              acceptance by the Corporation, this Subscription Agreement shall              constitute a binding obligation of the Corporation enforceable in              accordance with its terms subject to applicable bankruptcy, insolvency,              reorganization and other laws of general application limiting the              enforcement of creditors' rights generally and to the general principles              of equity including the fact that specific performance is available              only              in the discretion of the court; |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (e)   | the              execution, delivery and performance of this Subscription Agreement              by the              Corporation, the issue of the Flow-Through Shares and the incurring              of              Qualifying Expenditures and the renunciation of Qualifying Expenditures              to              the Subscriber pursuant hereto does not and will not constitute a breach              of or default under the constating documents of the Corporation, or              any              law, regulation, order or ruling applicable to the Corporation, or              any              agreement to which the Corporation is a party or by which it is              bound; |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (f)   | the              Corporation is, and at all material times will be, a "principal-business              corporation"; and |
|-----------------|--------------------------------------------------------------------------------------------------------------------------|

| (g)   | upon              issuance pursuant to the provisions hereof, the Flow-Through Shares              will              be issued on a "flow-through" basis, in accordance with subsection              66(15)              of the Act and the Flow-Through Shares will not be "prescribed shares"              for              the purpose of section 6202.1 of the Regulations to the Act, assuming              that              there are no agreements, arrangements, obligations or undertakings              as              contemplated by such provisions in respect of the Flow-Through Shares,              other than any agreements, arrangements, obligations or undertakings              to,              or in respect of which, the Corporation or a specified person in respect              of the Corporation is a party or has              knowledge. |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **11.  ** | **Covenants              of the Corporation****.**              The Corporation covenants and agrees with the              Subscriber: |
|---------------------|----------------------------------------------------------------------------------------------------------------------------------------|

| (a)   | to              keep proper books, records and accounts of all Qualifying Expenditures              and              all transactions affecting the Commitment Amount and the Qualifying              Expenditures, and upon reasonable notice, to make such books, records              and              accounts available for inspection and audit by or on behalf of the              Subscriber during normal business hours at the Subscriber's              expense; |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b)   | to              incur, during the Expenditure Period, Qualifying Expenditures in such              amount as enables the Corporation to renounce to the Subscriber (in              accordance with the Act and this Subscription Agreement), Qualifying              Expenditures in an amount equal to the Commitment              Amount; |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (c)   | to              renounce (in accordance with the Act and this Subscription Agreement)              to              the Subscriber, effective on or before the last date of the Expenditure              Period, Qualifying Expenditures which have been or will be incurred              during              the Expenditure Period in an amount equal to the Commitment              Amount; |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (d)   | to              incur all Qualifying Expenditures which are renounced prior to the              effective date of such renunciation; |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------|

| (e)   | to              renounce to the Subscriber with an effective date no later than the              last              day of each month following the Closing Date all Qualifying Expenditures,              if any, incurred by the Corporation in the particular month, provided              that              the renunciations made under this paragraph 11(e) shall not in the              aggregate exceed the Commitment Amount. Notwithstanding the foregoing,              the              renunciation in respect of the first month following the Closing Date              shall include all Qualifying Expenditures, if any, incurred after the              date              upon which the Corporation accepts this Subscription Agreement and              on or              before the last day of such month; |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| *Oilsands                Quest Inc.* *Subscription                Agreement for Flow-Through Shares* | *Page 8of                9* |
|-----------------------------------------------------------------------------------------------------------|----------------------------------|
|                                                                                                      |                             |

| (f)   | to              file with the Canada Revenue Agency the form prescribed by subsection              66(12.68) of the Act together with a copy of this Subscription Agreement              and any "selling instruments" contemplated by such subsection within              the              time prescribed by the Act; |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (g)   | to              file, on a timely basis, with the Canada Revenue the form prescribed              by              subsection 66(12.7) of the Act necessary to give effect to any              renunciation made pursuant to the terms of this Subscription              Agreement; |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (h)   | that              if the Corporation does not incur and renounce to the Subscriber              Qualifying Expenditures incurred during the Expenditure Period equal              to              the Commitment Amount, the Corporation shall indemnify the Subscriber              as              to, and pay in settlement thereof to the Subscriber, an amount equal              to              the amount of any tax payable or that may become payable under the              Act              (and under any corresponding provincial legislation) by the Subscriber              as              a consequence of such failure; |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (i)   | to              deliver to the Subscriber, not later than March 31, 2007, a statement              setting forth the aggregate amounts of Qualifying Expenditures that              the              Corporation intends to renounce to the Subscriber effective on or before              the last date of the Expenditure Period; |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (j)   | that              all Qualifying Expenditures renounced to the Subscriber pursuant to              this              Subscription Agreement will be Qualifying Expenditures incurred by              the              Corporation that, but for the renunciation to the Subscriber, the              Corporation would be entitled to deduct in computing its income for              the              purposes of Part I of the Act; |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (k)   | that              the Corporation will not reduce the amount renounced to the Subscriber              pursuant to subsections 66(12.6) of the Act and, in the event the Minister              reduces the amount renounced to the Subscriber pursuant to subsection              66(12.73) of the Act, the Corporation shall indemnify the Subscriber              as              to, and pay in settlement thereof to the Subscriber, an amount equal              to              the amount of any tax payable under the Act (and under any corresponding              provincial legislation) by the Subscriber as a consequence of such              reduction; |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (l)   | that              the Corporation will maintain its status as a principal-business              corporation until January 1, 2008; |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------|

| (m)   | that              the Corporation has not and will not enter into any transactions or              take              deductions which would otherwise reduce its cumulative Canadian              exploration expense as defined in subsection 66.1(6) of the Act to              an              extent which would preclude the renunciation of Qualifying Expenditures              hereunder in an amount equal to the Commitment Amount effective on              or              before the last date of the Expenditure Period; |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (n)   | to              timely file all forms required under the Act necessary to effectively              renounce Qualifying Expenditures equal to the Commitment Amount to              the              Subscriber effective on or before the last date of the Expenditure              Period,              and to promptly provide the Subscriber with a copy of all such forms              as              are to be provided on a timely basis; |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (o)   | that              the Corporation will not be subject to the provisions of subsection              66(12.67) of the Act in a manner which impairs its ability to renounce              Qualifying Expenditures to the Subscriber in an amount equal to the              Commitment Amount; |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (p)   | if              the Corporation is required under the Act to reduce Qualifying              Expenditures previously renounced to the Subscriber, the Corporation              shall              make such reduction pro rata by number of Flow-Through Shares issued              or to              be issued pursuant to flow-through share agreements of even date with              this              Subscription Agreement provided that the Corporation shall not reduce              Qualifying Expenditures renounced under this Subscription Agreement              until              it has first reduced to the extent possible expenditures renounced              pursuant to flow-through share agreements dated after the date of this              Subscription Agreement; |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (q)   | the              Corporation is related to the Subscriber within the meaning of the              Act and              will continue to be related to the Subscriber up to an including January              1, 2008; and |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (r)   | the              Corporation shall renounce Qualifying Expenditures with respect to              this              Subscription Agreement and all other flow-through share agreements              of even              date pro rata by number of Flow-Through Shares issued or to be issued              pursuant thereto before renouncing expenditures pursuant to any              flow-through shares agreements dated after the date of this Subscription              Agreement. |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| *Oilsands                Quest Inc.* *Subscription                Agreement for Flow-Through Shares* | *Page 9of                9* |
|-----------------------------------------------------------------------------------------------------------|----------------------------------|
|                                                                                                      |                             |

| **12.  ** | **No              Partnership****.**              Nothing herein shall constitute or be construed to constitute a              partnership of any kind whatsoever between the Subscriber and the              Corporation. |
|---------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **13.  ** | **Governing              Law****.**              The contract arising out of acceptance of this Subscription Agreement              by              the Corporation shall be governed by and construed in accordance with              the              laws of the Province of Alberta and the federal laws of Canada applicable              therein. The parties irrevocably attorn to the exclusive jurisdiction              of              the courts of the Province of Alberta. |
|---------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **14.  ** | **Time              of Essence****.**              Time shall be of the essence of this Subscription              Agreement. |
|---------------------|------------------------------------------------------------------------------------------------------------------------------|

| **15.  ** | **Facsimile              Copies****.**              The Corporation shall be entitled to rely on delivery of a facsimile              copy              of executed subscriptions, and acceptance by the Corporation of such              facsimile subscriptions shall be legally effective to create a valid              and              binding agreement between the Subscriber and the Corporation in accordance              with the terms hereof. |
|---------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **16.  ** | **Counterpart****.**This              Subscription Agreement may be executed in one or more counterparts              each of              which so executed shall constitute an original and all of which together              shall constitute one and the same              agreement |
|---------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **17.  ** | **Severability****.**              The invalidity, illegality or unenforceability of any provision of              this              Subscription Agreement shall not affect the validity, legality or              enforceability of any other provision              hereof. |
|---------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **18.  ** | **Survival****.**              The covenants, representations and warranties contained in this              Subscription Agreement shall survive the closing of the transactions              contemplated hereby, and shall be binding upon and enure to the benefit              of              the parties hereto and their respective heirs, executors, administrators,              successors and permitted assigns. |
|---------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **19.  ** | **Interpretation****.**              The headings used in this Subscription Agreement have been inserted              for              convenience of reference only and shall not affect the meaning or              interpretation of this Subscription Agreement or any provision hereof.              In              this Subscription Agreement, all references to money amounts are to              Canadian dollars. |
|---------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **20.  ** | **Amendment****.**              Except as otherwise provided herein, this Subscription Agreement may              only              be amended by the parties hereto in              writing. |
|---------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **21.  ** | **Costs**.              The Subscriber acknowledges and agrees that all costs incurred by the              Subscriber (including any fees and disbursements of any special counsel              retained by the Subscriber) relating to the sale of the Flow-Through              Shares to the Subscriber shall be borne by the              Subscriber. |
|---------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **22.  ** | **Assignment****.**              The terms and provisions of this Subscription Agreement shall be binding              upon and enure to the benefit of the Subscriber and the Corporation              and              their respective heirs, executors, administrators, successors and assigns;              provided that this Subscription Agreement shall not be assignable by              any              party without prior written consent of the other              parties. |
|---------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **23.  ** | **Language**.              The Subscriber acknowledges that it has consented to and requested              that              all documents evidencing or relating in any way to the sale of the              Flow-Through Shares be drawn up in the English language only. **Le              souscripteur reconna t par les présentes avoir consenti et exigé que              tous les documents faisant foi ou se rapportant de quelque manière à la              vente des bons de souscription spéciaux soient rédigés en anglais              seulement.** |
|---------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----