<PAGE>
                                                                Exhibit 10(a)(1)

                          BATTLE MOUNTAIN GOLD COMPANY
                     2000 DEFERRED INCOME STOCK OPTION PLAN

                                     PART 1

                       PLAN ADMINISTRATION AND ELIGIBILITY

         I.       PURPOSE. The purpose of this 2000 Deferred Income Stock
Option Plan (the "Plan") of Battle Mountain Gold Company (the "Company") is
to encourage ownership in the Company by officers and non-employee directors
of the Company whose continued services are considered essential to the
Company's continued progress and thus to provide them with a further
incentive to continue as an officer or director of the Company.

         II.      ADMINISTRATION. A Committee (the "Committee") of the Board
of Directors of the Company (the "Board") shall supervise and administer the
Plan. The Committee shall be comprised solely of two or more outside
directors and shall be constituted to permit the Plan to comply with the
requirements of Rule 16b-3 under the Securities Exchange Act of 1934 (the
"Exchange Act"). Unless and until the Board designates otherwise, the
Committee hereunder shall be the Compensation and Stock Option Committee of
the Board. Grants of stock options under the Plan and the amount and nature
of the awards to be granted shall be in accordance with the formula set forth
in Section VI. However, all questions of interpretation of the Plan or of any
options shall be determined by the Committee and such determination shall be
final and binding upon all persons having an interest in the Plan.

         III.     PARTICIPATION IN THE PLAN. Directors and officers of the
Company shall be eligible to participate in the Plan. The term officer shall
mean the Chairman of the Board, the Chief Executive Officer, the President,
each Vice President (whether or not designated by a word or words added
before or after the title "vice president"), the Secretary, the Treasurer and
the Controller of the Company.

         IV.      STOCK SUBJECT TO THE PLAN. The maximum number of shares
which may be optioned under the Plan shall be two million (2,000,000) shares
of the Common Stock of the Company, $0.10 par value ("Stock"). The limitation
on the number of shares which may be optioned under the Plan shall be subject
to adjustments as provided in Section XI of the Plan. If any outstanding
option under the Plan for any reason expires or is terminated without having
been exercised in full, the shares allocable to the unexercised portion of
such option shall again become available for grant pursuant to the Plan. Upon
the exercise of an option, the Company may issue new shares or reissue shares
previously repurchased by or on behalf of the Company.

<PAGE>

                                     PART 2

                                OPTIONS AND TERMS

         V.       NON-QUALIFIED STOCK OPTIONS. All options granted under the
Plan shall be non-qualified options not entitled to special tax treatment
under Section 422A of the Internal Revenue Code of 1986, as amended.

         VI.      TERMS, CONDITIONS AND FORM OF OPTIONS. Each option granted
under this Plan shall be evidenced by a written agreement in such form as the
Committee shall from time to time approve and containing such terms as the
Committee, in its sole discretion, may prescribe (subject to the applicable
provisions of the Plan). Further, such agreements shall comply with and be
subject to the following terms and conditions:

         A.       PLAN YEAR. The Plan Year shall be the calendar year
beginning January 1 and ending December 31 ("Plan Year").

         B.       ELECTION DATE. Any eligible director or officer
("Optionee") may file with the Secretary of the Company, not more than once
each Plan Year, on or before the Valuation Date, as defined below, (the
"Election Date"), an irrevocable election to receive a stock option in lieu
of Eligible Compensation, as defined below, (i) in the case of a director who
is not regularly employed by the Company, an amount or percentage specified
by such director, up to 100% of his or her annual directors fees and per diem
fees for attending Board or committee meetings to earned in such Plan Year or
(ii) in the case of an officer, an amount or percentage specified by such
officer, up to 50% of his salary to be earned in such Plan Year and up to 50%
of his annual cash bonus to be paid in such Plan Year; provided, however,
that the amount of compensation so deferred in any Plan Year shall not in any
event exceed the compensation attributable to services to be rendered by the
Optionee during the balance of the Plan Year following the Election Date
(hereinafter, as it applies to a director or an officer, respectively,
"Eligible Compensation"). "Valuation Date" shall mean either (a) the twelfth
(12th) business day following the public release of the Company's financial
data for the preceding year, (b) the twelfth (12th) business day following
the public release of the Company's financial data for the first quarter of
the year (ending March 31st), or (c) the twelfth (12th) business day
following the public release of the Company's financial data for the second
quarter of the year (ending June 30th). If at any time prior to the time
options become exercisable as provided in Subsection G below, the number of
shares issuable thereunder in accordance with the elections of the Optionees
would exceed the number of shares remaining available under the Plan, the
foregoing maximum percentages applicable to non-employee directors and
officers, respectively, shall each be reduced to the extent required to
eliminate such excess.

         C.       GRANT OF OPTIONS. Options shall be granted automatically on
each Election Date to each Optionee who filed an election with the Secretary
on such Election Date.

<PAGE>

         D.       OPTION FORMULA. The number of shares subject to the option
granted to any eligible Optionee on any Election Date shall be equal to the
nearest number of whole shares determined in accordance with the following
formula:

                  Deferred Amount                  Number of
                  -----------------------          Shares
                  (Fair Market Value less    =
                  Elected Exercise Price)

"Deferred Amount" shall mean the stated dollar amount, or the dollar amount
computed by application of the stated percentage, as elected under Subsection
B above by a director or officer which will be received in the relevant Plan
Year commencing on the Election Date. "Fair Market Value" shall mean the
average of the quoted closing sales prices per share of Stock as reported on
the Composite Tape of the New York Stock Exchange for the five consecutive
trading days preceding the Valuation Date. "Elected Exercise Price" shall
mean the exercise price per share of Stock irrevocably elected by the
Optionee at the Valuation Date and set forth on his individual option
agreement entered into as of the Election Date, which shall not exceed the
Fair Market Value minus $1.00 nor be less than $1.00. The per share option
price of each share of Stock subject to the option shall be the Elected
Exercise Price. No Optionee shall be granted any option if, after giving
effect thereto, the number of shares issuable under such option and issued or
issuable under all other options granted to such Optionee under the Plan
shall exceed 1% of the number of shares of Stock outstanding on the date this
Plan is adopted. If such limitation would otherwise be exceeded, the number
of shares issuable under any such option shall be reduced to the extent
necessary to eliminate such excess.

         E.       TERMINATION PRIOR TO EXERCISABILITY. In the event of the
termination of services of an Optionee prior to the date on which an option
granted to him becomes exercisable as provided in Subsection G below, whether
by quit, discharge, retirement, disability or death, such option shall become
exercisable on the date determined in accordance with Subsection G, but only
with respect to a number of shares determined by reference to the
compensation earned and bonus received prior to such termination.

         F.       OPTIONS NON-TRANSFERABLE. Each option granted under the
Plan by its terms shall not be transferable by the Optionee otherwise than by
transfer by will or by the laws of descent and distribution.

         G.       PERIOD OF OPTION.

                  (1)      PERIOD OF OPTION FOR OFFICER OPTIONEES. All
options shall become immediately exercisable in full on January 1 in the year
following the Election Date or six (6) months following the applicable
Valuation Date, whichever is later. No option granted in respect of service
as an officer shall be exercisable after the first to occur of (i) the
expiration of ten (10) years from the date upon which such option was
granted; (ii) in the case of termination of service of the Optionee for
reasons other than death, total and permanent disability, or retirement
pursuant to the provisions of any retirement plan

<PAGE>

maintained by the Company or a subsidiary, the expiration of six (6) months
(or three (3) years following a change of control) after the later of (a) the
date of such termination or (b) the date on which such option first became
exercisable, provided, however, that if death of the Optionee occurs within
six months of such termination of service, clause (iii) shall be applicable;
or (iii) in the case of termination of service of the Optionee by reason of
death or total and permanent disability (or in the case of death of the
Optionee in the circumstances described in clause (ii)), the expiration of
one (1) year after the later of (a) the date of such termination or (b) the
date on which such option first became exercisable.

                  (2)      PERIOD OF OPTION FOR DIRECTOR OPTIONEES. All
options shall become immediately exercisable in full on January 1 in the year
following the Election Date or six (6) months following the applicable
Valuation Date, whichever is later. No option granted in respect of service
as a director who is not regularly employed by the Company shall be
exercisable after the first to occur of (i) the expiration of ten (10) years
from the date upon which such option was granted; (ii) in the case of
resignation of the Optionee from the Board (other than by reason of death or
total and permanent disability), the expiration of three (3) years after the
later of (a) the date of such resignation or (b) the date on which such
option first became exercisable; or (iii) in the case of termination of
service as a director by the Optionee by reason of death or total and
permanent disability, the expiration of one (1) year after the later of (a)
the date of such termination or (b) the date on which such option first
became exercisable.

         H.       EXERCISE OF OPTIONS. Options may be exercised only by
written notice sent to the Secretary of the Company at its principal
executive office at 333 Clay Street, 42nd Floor, Houston, Texas 77002
accompanied by payment in cash, or at the option of the Optionee, in Stock
theretofore owned by the Optionee (or in a combination of cash and such
Stock), of the full consideration for the shares as to which the Options are
exercised.

         I.       EXERCISE BY REPRESENTATIVE FOLLOWING DEATH OF OPTIONEE. An
Optionee, by written notice to the Company, may designate one or more persons
(and from time to time change such designation), including his legal
representative, who, by reason of his death, shall acquire the right to
exercise all or a portion of the option granted hereunder. If the person or
persons so designated with to exercise any portion of the option, they must
do so within the term of the option as provided in Subsection G. Any exercise
by a representative shall be subject to the provisions of the Plan.

<PAGE>

                                     PART 3

                               GENERAL PROVISIONS

         VII.     MODIFICATION, EXTENSION AND RENEWAL OF OPTIONS. The
Committee shall have the power to modify outstanding options, provided that
any such action must be consistent with the provisions of the Plan (including
the terms and conditions set forth in Section VI) and may not have the effect
of altering or impairing any rights or obligations of any option previously
granted without the consent of the Optionee.

         VIII.    ASSIGNMENTS. The rights and benefits under the Plan may not
be assigned except for the designation of a beneficiary as provided in
Section VI(I).

         IX.      TIME FOR GRANTING OPTIONS. All options for shares subject
to the Plan shall be granted, if at all, not later than ten (10) years after
the adoption of this Plan.

         X.       LIMITATION OF RIGHTS.

         A.       NO RIGHT TO CONTINUE AS A DIRECTOR OR OFFICER. Neither the
Plan, nor the granting of an option nor any other action taken pursuant to
the Plan, shall constitute or be evidence of any agreement or understanding,
express or implied, that the Company will retain a director or officer for
any period of time, or at any particular rate of compensation.

         B.       NO STOCKHOLDER'S RIGHTS FOR OPTIONS. An Optionee shall have
no rights as a stockholder with respect to the shares covered by his or her
options until the date of the issuance to him or her of the stock purchased
pursuant to the option, and no adjustment will be made for dividends or other
rights for which the record date is prior to the date such certificate is
issued.

         XI.      CHANGE IN PRESENT STOCK. In the event of any merger,
consolidation, reorganization, recapitalization, stock dividend, stock split,
or other change in the corporate structure or capitalization affecting the
Company's present Stock, appropriate adjustment shall be made by the
Committee in the number (including the aggregate numbers specified in Section
IV) and kind of shares which are or may become subject to options granted or
to be granted hereunder and in the purchase price per share of outstanding
options.

         XII.     EFFECTIVE DATE OF THE PLAN. The Plan shall take effect on
February 4, 2000.

         XIII.    AMENDMENT OF THE PLAN. The Board of Directors of the
Company may amend, alter or discontinue the Plan, except that (a) no
amendment or alteration that would impair the rights of any Optionee under
any option that he or she has been granted

<PAGE>

shall be made without his or her consent, (b) any amendment or alteration
shall comply with Rule 16b-3 (or any successor provision) under the Exchange
Act in order to preserve the applicability of any exemption provided by such
rule to any option then outstanding (unless the holder of such option
consents) and (c) the Plan shall not be amended more than once every six
months to the extent such limitation is required by Rule 16b-3 (or any
successor provision) under the Exchange Act.

         XIV.     NOTICE. Any written notice to the Company required by any
of the provisions of this Plan shall be addressed to the Secretary of the
Company and shall become effective when it is received.

         XV.      GOVERNING LAW. This Plan and all determinations made and
actions taken pursuant hereto shall be governed by the laws of the State of
Nevada and construed accordingly.

                                   BATTLE MOUNTAIN GOLD COMPANY