Document:

ESCROW AGREEMENT

THIS ESCROW AGREEMENT, dated as of __Date________between____YOUR
COMPANY_____________. (the "Company") and COMMERCE BANK, N.A., a Banking
Corporation organized and existing under the laws of the United States of
America (the "Escrow Agent").

                                   WITNESSETH:

The Company, pursuant to a Stock Purchase Agreement dated as of __ Date
__________ (the "Agreement") is offering securities (the "Offering") to certain
qualified subscribers (the "Subscribers") consisting of _____________shares of
the Company's common stock per unit, for a purchase price of ____ per Unit. The
aggregate subscriptions that must be received before any subscription payments
will be released to the Company from the escrow created pursuant to the terms
and conditions contained herein is _____________ Units or any combination of
fractional units aggregating ___________ (the "Aggregate Subscriptions Amount").
Thereafter, subscription payments will be released to the Company upon written
request by the Company to the Escrow Agent.

Pursuant to the terms of the Offering, the Company will deliver to the Escrow
Agent each subscription payment (a "Subscription Payment") received by the
Company from a subscriber. The Subscription Payment of such subscriber will be
collectively held in one escrow by the Escrow Agent on the terms and conditions
hereinafter set forth. The Company will maintain all subscriber records and at
least bi-weekly supply the Escrow Agent with a list showing such subscribers
name, address and amount of Subscription Payment.

The offering and sale of the Shares will terminate no later than 90 days
following the effectiveness of the offering (the ("Effective Date"), unless
extended upon written direction by the Company for up to an additional 90 days,
or such earlier date as shall be determined by the Company (the "Termination
Date") . No funds will be accepted by the Escrow Agent after the Termination
Date.

The Company agrees to provide the Escrow Agent, in writing, with the Effective
Date and the Termination Date.

NOW, THEREFORE, the Company and the Escrow Agent agree as follows:

1. Deposits. Each Subscription Payment received by the Company from a subscriber
shall be forwarded to the Escrow Agent along with a certificate from the Company
(the "Subscription Certificate") setting forth the name, address, social
security number and telephone number of such subscriber, the number of Units or
fractional or split Units being purchased and the purchase price being paid for
the same. If the Subscription Payment is in the form of a check, it shall be
enclosed with the Subscription Agreement. If the Subscription Payment is to be
made by wire transfer, the Subscription Agreement shall also state the name,
address and telephone number of the financial institution that will be wiring
such Subscription Payment.
<PAGE>

Each Subscription Payment received by the Escrow Agent from the Company will be
deposited and held in accordance with Section 6(a) below. Such account will be
held in the name of (the "Escrow"). It is understood that all checks received by
Escrow Agent are subject to clearance time and the funds represented thereby
cannot be drawn upon or invested until such time as the same constitute good and
collected funds. It is additionally understood that should any checks be
returned to the Escrow Agent as uncollectible, or returned because of
insufficient funds, the Escrow Agent is authorized and instructed to charge
expenses incurred by the Escrow Agent on such uncollected checks to the Escrow.
The Escrow Agent shall redeposit such check(s) for collection only upon the
verbal instruction of the Company; however, in no instance shall the check(s) be
presented for collection more than two (2) times. Should the check(s) be
uncollectible after the second presentation, the Escrow Agent, shall promptly
notify the Company and hold said check(s) until the subscriber has replaced the
same with a cashier's check or such other form of draft that the Company and
escrow Agent approve, at which time the Escrow Agent shall as soon as
practicable return said uncollectible check(s) to the subscriber. In the event
the subscriber does not replace said check(s) with a cashier's check or such
other form or draft acceptable to Escrow Agent and the Company, the Escrow Agent
shall as soon as practicable return the same to such subscriber.

2. Rejection of Subscription Payment. The Company hereby certifies that such
Subscription Agreement provides that the purchase of any Unit is subject to the
approval of the Company. The Company agrees to notify the Escrow Agent in
writing or telephonically with written confirmation as to which Subscriptions
are being accepted and which rejected. All such rejections shall be refunded to
the respective subscribers at the close of this escrow pursuant to the procedure
described in Paragraph 4 hereof, as applicable, or as otherwise directed in
writing by the company.

3. Release of Escrow Funds on Closing. If on a Closing Date, as shortened or
extended pursuant to the terms of the Agreement the Escrow Agent (a) holds
Subscription Payments, representing subscriptions as to which the Company has
notified the Escrow Agent, pursuant to paragraph 2 hereof, that the Company has
accepted, and (b) has received from the Company a certificate stating that all
conditions to such Closing have been met, (i.e. specifically, in the case of the
Initial Closing, that the Aggregate Subscription Amount has been accepted), then
the Escrow Agent is authorized and instructed to make the following payments:
(i) all principal amounts held by the Escrow Agent in the Escrow representing
subscriptions as to which the Company has notified the Escrow Agent, pursuant to
Paragraph 2 hereof, that the Company has accepted, shall be paid to the Company;
(ii) all principal amounts held by the Escrow Agent in the Escrow, representing
subscriptions as to which the Company has notified the Escrow Agent, pursuant to
paragraph 2 hereof, that the Partnership has rejected, shall be paid to the
subscriber. All payments to be made by the Escrow Agent to a subscriber shall be
forwarded to the last known address of the subscriber, as communicated in
writing to the Escrow Agent by the Company, mailed by first class mail. All
payments to be made by the Escrow Agent to the Company shall be forwarded to the
Company as the Company shall direct. Upon release of any funds pursuant to this
Paragraph 4, the Escrow shall be closed as to the funds released; provided,
however , that this Agreement shall remain in effect for further Subscription
Payments received by the Escrow Agent from subscribers which shall be placed in
Escrow and held by the Escrow Agent in accordance with the terms of this
Agreement.
<PAGE>

All payments to be made by the Escrow Agent to the Company shall be forwarded to
the Company as the Company shall direct. Upon release of any funds pursuant to
this Paragraph 3, the Escrow shall be closed as to the funds released; provided,
however , that this Agreement shall remain in effect for further Subscription
Payments received by the Escrow Agent from subscribers which shall be placed in
Escrow and held by the Escrow Agent in accordance with the terms of this
Agreement.

4. Other Refunds. If the Escrow Agent has received from the Company a
certificate stating that the Offering is being terminated, then the Escrow Agent
is authorized and instructed to make the following payments: (i) all principal
amounts held by the Escrow Agent in the Escrow together less the expenses
incurred by the Escrow Agent for uncollected checks, if any, shall be paid to
the subscribers of the Company; (ii) All earnings shall be paid to the Company.
All payments to be made by the Escrow Agent to a subscriber, as communicated in
writing to the Escrow Agent by the Company, will be mailed by first class mail.
All payments to be made by the Escrow Agent to the Company shall be issued to
such account as the Company may direct. Upon release of the funds pursuant to
this Paragraph 4, the Escrow Agent's duties as Escrow Agent will cease and the
Escrow shall be closed.

5. Fees. The Company hereby agrees that the Escrow Agent shall be entitled to a
fee of $ 500 Acceptance Fee and $3,500 Administration Fee plus all out of pocket
expenses incurred by the Escrow Agent, (the "Escrow Fee"). The fee is due and
payable by upon execution of the Escrow Agreement. If any fee is not so paid, it
shall become a charge upon the Escrowed Funds. The Escrow Agent agrees that in
the event that a subsidiary company to the Company is formed to facilitate
investment in the Company, the Escrow Fee shall include services to the
subsidiary Company which are the same as the services set forth herein to the
Company and the Escrow Fee shall be prorated between the two companies

6. Rights, Liabilities and Indemnification of the Escrow Agent.

      (a) The Escrowed Funds shall be invested by the Escrow Agent in accordance
with the signed, written instructions of __________. In the absence of written
instructions from the above-named party, the Escrow Agent shall invest the
Escrowed Funds in the Ultra money market fund customarily utilized by the Escrow
Agent's corporate trust department in the ordinary course of its corporate trust
and escrow agent duties.

In investing the Escrowed Funds, the Escrow Agent shall rely upon the written
instructions of and the Escrow Agent shall be and hereby is relieved of all
liability with respect to making, holding, redeeming or selling such investments
in accordance with such instructions. In the absence of the written investment
instructions contemplated herein, for any reasons whatsoever, the Escrow Agent
shall be and hereby is relieved of all liability with respect to making,
holding, redeeming or selling investments made in accordance with the preceding
paragraph which prescribes the permissible investment vehicles for the Escrowed
Funds absent written instructions from James Cerna.

Escrow Agent is and shall be under no duty to enforce the obligation
of__________ to furnish written investment instructions nor shall the Escrow
Agent be liable to any person, firm or corporation, including any of the parties
hereto, for the investments made, held, redeemed or sold as directed herein in
the event that written investment instructions from James Cerna are not
furnished to the Escrow Agent.
<PAGE>

      (b) The Escrow Agent shall not be responsible for or be required to
enforce any of the terms or conditions of the Securities Purchase Agreement or
any other agreement between BMA Securities and ___ YOUR COMPANY____________

      (c) The parties hereto represent to the Escrow Agent that they are
authorized to enter into the Escrow Agreement by their duly authorized
representatives and that the Escrow Agent is entitled to rely on this
representation without the need to confirm the authority of the representatives.

      (d) The duties and obligations of the Escrow Agent shall be limited to and
determined solely by the express provisions of this Escrow Agreement and no
implied duties or obligations shall be read into this Escrow Agreement against
the Escrow Agent.

      (e) The Escrow Agent is not bound by and is under no duty to inquire into
the terms or validity of any other agreements or documents, including any
agreements or documents which may be related to, referred to in or deposited
with the Escrow Agent in connection with this Escrow Agreement.

      (f) The Escrow Agent shall be entitled to rely upon and shall be protected
in acting in reliance upon any instruction, notice, information, certificate,
instrument or other document which is submitted to it in connection with its
duties under this Escrow Agreement and which the Escrow Agent in good faith
believes to have been signed or presented by the proper party or parties. The
Escrow Agent shall have no liability with respect to the form, execution,
validity or authenticity thereof.

      (g) The Escrow Agent shall not be liable for any act which the Escrow
Agent may do or omit to do hereunder, or for any mistake of fact or law, or for
any error of judgment, or for the misconduct of any employee, agent or attorney
appointed by it, while acting in good faith, unless caused by or arising from
its own gross negligence or willful misconduct.

      (h) The Escrow Agent shall be entitled to consult with counsel of its own
selection and the opinion of such counsel shall be full and complete
authorization and protection to the Escrow Agent in respect of any action taken
or omitted by the Escrow Agent hereunder in good faith and in accordance with
the opinion of such counsel.

      (i) The Escrow Agent shall have the right at any time to resign for any
reason and be discharged of its duties as Escrow Agent hereunder by giving
written notice of its resignation to the parties hereto at least thirty
days/business days prior to the date specified for such resignation to take
effect. All obligations of the Escrow Agent hereunder shall cease and terminate
on the effective date of its resignation and its sole responsibility thereafter
shall be to hold the Escrowed Funds, etc. for a period of thirty days/business
days following the effective date of resignation, at which time,
<PAGE>

I) if a successor escrow agent shall have been appointed and written notice
thereof shall have been given to the resigning Escrow Agent by parties hereto
and the successor escrow agent, then the resigning Escrow Agent shall deliver
the Escrowed Funds, etc. to the successor escrow agent; or

II) if a successor escrow agent shall not have been appointed, for any reason
whatsoever, the resigning Escrow Agent shall deliver the Escrowed Funds, etc. to
a court of competent jurisdiction and give written notice of the same to the
parties hereto.

      The resigning Escrow Agent shall be entitled to be reimbursed by
_________________ for any expenses incurred in connection with its resignation
and transfer of the Escrowed Funds, etc., pursuant to and in accordance with the
provisions of this section.

      (j) ______________ jointly and severally agree to indemnify and hold the
Escrow Agent harmless from and against any and all liabilities, causes of
action, claims, demands, judgments, damages, costs and expenses (including
reasonable attorneys fees and expenses) that may arise out of or in connection
with the Escrow Agent's good faith acceptance of or performance of its duties
and obligations under this Escrow Agreement. The Escrow Agent shall be under no
duty to institute any suit, or to take any remedial procedures under this Escrow
Agreement, or to enter any appearance or in any way defend any suit in which it
may be made a defendant hereunder until it shall be indemnified as provided
above.

      (k) In the event that the Escrow Agent shall be uncertain as to its duties
or rights hereunder or shall receive instructions with respect to the Escrow
Fund which, in its sole discretion, are in conflict either with other
instructions received by it or with any provision of this Agreement, the Escrow
Agent shall have the absolute right to suspend all further performance under
this Escrow Agreement (except for the safekeeping of the Escrow Fund) until the
resolution of such uncertainty or conflicting instructions to the Escrow Agent's
sole satisfaction by final judgment of a court of competent jurisdiction, joint
written instructions from all of the other parties hereto, or otherwise.

      (l) In the event that any controversy arises between one or more of the
parties hereto or any other party with respect to this Escrow Agreement or the
Escrow Fund, the Escrow Agent shall not be required to determine the proper
disposition of such controversy or the proper disposition of the Escrow Fund and
shall have the absolute right, in its sole discretion, to deposit the Escrow
Fund with the Clerk of a court of competent jurisdiction, file a suit in
interpleader and obtain an order from the court requiring all parties involved
to litigate in such court their respective claims arising out of or in
connection with the Escrow Fund. Upon the deposit by the Escrow Agent of the
Escrow Fund with the Clerk of a court of competent jurisdiction in accordance
with this provision, the Escrow Agent shall be relieved of all further
obligations and released from all liability hereunder.
<PAGE>

      (m) The Company hereby indemnifies and holds the Escrow Agent harmless
from any possible violations of any Environmental Laws including any local,
state or federal law, rule or regulation pertaining to environmental matters, as
now or hereafter enacted or amended, including without limitation, the Federal
Comprehensive Environmental Response; Compensation and Liability Act of 1980;
the Federal Resource Conservation and Recovery Act; the Federal Superfund
Amendments and Reauthorization Act of 1986; the Federal Toxic Substance Control
Act; the Federal Hazardous Material Transportation Act; the Federal Clean Air
Act; the Federal Water Pollution Control Act; the Industrial Site Recovery Act;
the New Jersey Spill Act; the Underground Storage Tank Act; together with any
other federal, state or local superlien, or other statutes, rules or
regulations, as now or hereafter amended in any way pertaining to clean-up,
disclosure, water pollution control, air pollution control, regulation of solid
waste, hazardous waste management, storage tanks, regulation of environmentally
sensitive areas, use of ground water, surface waters and wetlands, hazardous and
toxic substance reporting and any other laws including case laws, which might be
deemed or referred to as environmental common law.

7. Modification, Amendment, Rescission. No rescission, modification, amendment,
supplement or change of this Escrow Agreement shall be valid or in effect unless
notice thereof is given to the Escrow Agent in writing by the Company and
accepted by the Escrow Agent.

8. Successors and Assigns. The provisions hereof shall be binding upon and inure
to the benefit of the parties hereto and their respective legal representatives,
heirs, successors or assigns and shall survive the termination of this Escrow
Agreement.

9. Copies. This Escrow Agreement may be executed in two or more counterparts,
each of which shall be deemed an original, but all of which together shall
constitute one and the same instrument.

10. Notices. All notices, instructions and other communications under this
Escrow Agreement shall be in writing except as otherwise specified herein and
shall be deemed duly given if sent by certified or registered mail, postage
prepaid, return receipt requested and addressed as follows:

            (a)   If to the Escrow Agent:

                  Commerce Bank, NA
                  Attn.: Corporate Trust Administration
                  101 Haddenfield Road, 2nd Floor
                  Cherry Hill, NJ 08002
                  Telephone: (856) 532-4393
                  Fax: (856) 482-5706

            (b)   If to the Company:
                  YOUR COMPANY Inc.
                  Address
                  City, State , zip
                  Telephone:
                  Fax:
<PAGE>

11. Applicable Law. This Escrow Agreement shall be governed by and construed in
accordance with the laws of the United State of America.

IN WITNESS WHEREOF, the parties hereto have executed this Escrow Agreement on
the day and year first above written.

                                          By:

                                          Title

                                          Commerce Bank, N.A.

                                          By:

                                          Title:SUBSCRIPTION AGREEMENT FOR PROMISSORY NOTE AND SHARES
                                OF GOLD RUN INC.

                                                             (Date)

GOLD RUN INC.
c/o Berns & Berns
767 Third Avenue
New York, New York 10017

Gentlemen:

      The Undersigned hereby offers to purchase from Gold Run Inc. (the
"Company") (i) a Non-transferable 10% Promissory Note ("Note") in the principal
amount of $______, and (ii) ______ shares of the Company's common stock, par
value $.000001 per share ("Share"), at a price of $0.001 per Share, for an
aggregate purchase price of $_________ U.S. The form of the Note is set forth at
Appendix I. Instructions on how to subscribe are set forth at Appendix II.

      In order to induce the Company to sell you the Notes and the Shares
(collectively, the "Securities"), the Undersigned, for himself and for his legal
representatives, successors and assigns, hereby makes the following
representations, warranties, acknowledgments and certifications, intending that
the Company rely hereon, to the Company, and covenants with the Company, as
follows:

      1. The Undersigned acknowledges that the Company is a reporting issuer in
the United States, and files reports with the Securities and Exchange Commission
("SEC"), file no. 333-139412. The Undersigned further acknowledges that on
December 31, 2007 the Company filed a Registration Statement on Form SB-2with
the SEC, which has not been declared effective.

      2. The Company has made available to the Undersigned all requested
documents and records in its possession, and has offered the Undersigned an
opportunity to discuss this investment with the Company and/or representatives
of the Company and obtain any additional information necessary to verify the
accuracy of any information furnished. The Undersigned acknowledges that he has
not been provided with an offering memorandum or any other offering literature
relating to this private offering of the Company's Securities and is relying
solely on the publicly available information set forth in paragraph 1 hereof in
making his investment decision.
<PAGE>

                                                                          (date)
Gold Run Inc.                                                             Page 2

      3. The Undersigned acknowledges that no information furnished by the
Company constitutes investment, accounting, legal or tax advice. The Undersigned
is relying solely upon himself and his professional advisors, if any, for such
advice.

      4. The Undersigned has relied solely upon his own independent
investigation in making a decision to purchase the Securities. The Securities
are a speculative investment which involves a substantial degree of risk with no
assurance of any income from such investment and the possibility that the
Securities may become worthless. The Undersigned acknowledges that both the
Notes and Shares are restricted securities for which there is no market. The
Undersigned acknowledges that he must therefore be prepared to bear the economic
risks for an indefinite period, and the total loss of his investment.

      5. The Undersigned acknowledges that (i) this offer and sale of the
Securities is being done pursuant to the provisions of Regulation S, promulgated
under the United States Securities Act of 1933, as amended (the "Securities
Act"), (ii) is not being registered under the laws of any jurisdiction, (iii)
the Securities are being acquired solely for the account of the Undersigned,
solely for investment purposes and not with a view to resale or distribution,
and (iv) no other person has any direct or indirect interest in the Securities.
The Undersigned has no contract, undertaking, agreement or arrangement with any
person to sell, transfer or pledge to such person, or anyone else, the
Securities, or any interest therein, and the Undersigned has no plans to enter
into any such contract, undertaking, agreement or arrangement.

      6. The Undersigned understands that he may not dispose of the Securities,
or any interest therein, unless and until legal counsel for the Company shall
have determined that the intended disposition does not violate the law of any
jurisdiction. The Undersigned acknowledges that the Securities are
non-transferable, that both the Notes and Shares will bear legends describing
the limitations on transfers, and that it will not be possible for the
Undersigned to liquidate his investment in case of an emergency. The Undersigned
agrees to only resell such Securities pursuant to registration under the
Securities Act, pursuant to the resale provisions promulgated under Regulation
S, under the Securities Act, or pursuant to an available exemption from
registration, and agrees not to engage in hedging transactions with regard to
such securities unless in compliance with the Securities Act.
<PAGE>

                                                                          (date)
Gold Run Inc.                                                             Page 3

      7. The Undersigned represents and warrants that he is not a "U.S. Person"
as such term is defined in Rule 902(k), promulgated under the Securities Act,
and that he is not acquiring the Securities for the account or benefit of a U.S
Person. The Undersigned represents and warrants that he is not a resident of the
United States and that he was outside of the United States when (i) the
agreement was negotiated, (ii) he received this agreement, and (iii) this
agreement was executed.

      8. The Undersigned represents that he is knowledgeable and experienced in
making and evaluating investments. The investments of the Undersigned in, and
his commitments to, all non-liquid investments (including an investment in the
Company) are reasonable in relation to his net worth, and the Undersigned has
the ability to bear the financial risk of an investment in the Company.

      9. The Undersigned represents, warrants, and acknowledges that (a) the
Securities were not offered or distributed to the Undersigned through an
advertisement in printed media of general and regular paid circulation, radio or
television, and (b) he did not attend any seminars or meetings regarding this
offering, in which the attendees were invited by any general solicitation or
general advertising.

      10. The Undersigned acknowledges that no governmental authority,
regulatory body, stock exchange or any other entity has made any finding or
determination as to the merits of this investment.

      11. The Undersigned acknowledges that the Company, in its sole discretion,
reserves the unconditional right to accept or reject, in whole or in part, this
subscription, with or without cause, and to waive any requirements of this
subscription. The Undersigned acknowledges that the Company has the
unconditional right to refund to the Undersigned all funds so tendered, or any
portion thereof, to the Company, within one hundred twenty days of receipt, even
if the Company has already utilized the funds. To the extent this subscription
may ultimately be rejected, subscriptions received by the Company shall be
refunded, without interest. The Undersigned acknowledges that the Company may
utilize the subscription funds received from the Undersigned immediately upon
receipt by the Company.
<PAGE>

                                                                          (date)
Gold Run Inc.                                                             Page 4

      12. The Undersigned represents that he is an "accredited investor" as such
term is defined in Rule 501(a) under the Securities Act, as set forth at
Appendix III hereto, and has checked the applicable category of "accredited
investor" on Appendix III.

      The Undersigned will indemnify and hold the Company, its affiliates, and
representatives, harmless from and against any and all loss, liability, cost,
damage, expense (including attorney's fees and expenses) and claims arising out
of, in connection with or resulting (i) from the sale or distribution of the
Shares by the Undersigned in violation of any applicable law, rule or
regulation, and (ii) any misrepresentation by the Undersigned or any breach of
any warranties herein or any covenants or agreements set forth herein.

      The foregoing is not, and will not be, revocable by the Undersigned at any
time. The Undersigned gives this document to the Company intending to be legally
bound hereby.

                                                   Very truly yours,

                                                   __________________________
                                                   Print Name

                                                   __________________________
                                                   Signature

                                                   Date: ___________________

                                                   __________________________
                                                   Address

                                                   __________________________
                                                   Address
<PAGE>

                                                                          (date)
Gold Run Inc.                                                             Page 5

                                   APPENDIX I

THIS NON-TRANSFERABLE PROMISSORY NOTE MAY NOT BE OFFERED, SOLD, OR OTHERWISE
TRANSFERRED, EXCEPT PURSUANT TO (I) AN EFFECTIVE REGISTRATION STATEMENT, (II) ,
THE RESALE PROVISION PROMULGATED UNDER REGULATION S, OR (II) AN OPINION OF
COUNSEL, SATISFACTORY TO COUNSEL FOR THE MAKER, THAT AN EXEMPTION FROM
REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED, IS AVAILABLE.

                        NON-TRANSFERABLE PROMISSORY NOTE

                                  GOLD RUN INC.

                                 Note No. _____

$_____                          Toronto, Ontario                          [Date]

FOR VALUE RECEIVED, the undersigned, GOLD RUN INC., a Delaware corporation (the
"Maker") having an address at 330 Bay Street, Suite 820, Toronto, Ontario M5H
2S8, CANADA, hereby promises to pay to the order of [Name], having an address at
[Address] (such person being herein referred to individually as "Holder"), in
lawful money of the United States of America, the principal sum of $______,
together with interest thereon at the rate of 10% per annum, based on a year of
360 days, which principal shall be payable in one installment on the EARLIER of
(i) the date of the final closing of the Maker's public offering of shares of
its common stock, described in the Maker's Registration Statement on Form SB-2,
filed with the United States Securities and Exchange Commission on December 31,
2007, as amended from time to time, and (ii) the first anniversary of the date
of this Note. Interest shall accrue thereon from and after the date hereof and
shall be payable on the date the Note is repaid.
<PAGE>

                                                                          (date)
Gold Run Inc.                                                             Page 6

1) COLLECTION COSTS.

      If, after any default hereunder, Holder expends any effort or expense in
any attempt to enforce or collect payment of all or any part or installment of
any sum due Holder hereunder, or if this Note is placed in the hands of an
attorney for collection, or if it is collected through any legal proceedings,
Maker will bear and pay all reasonable costs and fees incurred by Holder in
connection with the investigation and collection hereof, including but not
limited to reasonable fees and expenses of counsel.

2. PREPAYMENT.

      The Maker has the right to prepay the Note, at any time, in whole or in
part, without penalty.

3. CERTAIN WAIVERS.

      Maker and each surety, guarantor, endorser and other party ever liable for
payment of any sums of money payable on this Note jointly and severally waive
presentment and demand for payment, protest, notice of protest and non-payment
or dishonor, notice of acceleration or intent to accelerate, notice of intent to
demand, and diligence in collecting, and consent to all extensions without
notice for any period or periods of time and partial payments, before or after
maturity, without prejudice to Holder. Holder shall similarly have the right to
deal in any way, at any time, with one or more of the foregoing parties without
notice to any other party, and to grant any such party any extensions of time
for payment of any of said indebtedness, or to release part or all of any
collateral at any time securing this Note, or to grant any other indulgences or
forbearances whatsoever, without notice to any other party and without in any
way affecting the personal liability of any party hereunder.

4. GOVERNING LAW.

      This Note shall be governed by and construed and enforced in accordance
with the laws of the State of New York applicable to promissory notes issued and
delivered within such State and without giving effect to choice of law
principles of such State. Notwithstanding the place where any liability
originates or arises or is to be paid, any suit, action or proceeding arising
out of or relating to this promissory note may be instituted in, or if
instituted elsewhere may be removed to, any Court of the United States of
America or of the State of New York sitting in the County, City and State of New
York. Maker hereby irrevocably waives any objection Maker may now or hereafter
have to the laying of venue of any such suit, action or proceeding in the
above-described courts and any claim that any suit, action or proceeding has
been brought in an inconvenient forum. Nothing in this Section shall affect the
right of any party to serve process in any other manner permitted by law or
limit the right of any party to bring any suit, action or proceeding against any
other party in the courts of any other jurisdiction.
<PAGE>

                                                                          (date)
Gold Run Inc.                                                             Page 7

5. NOTICES.

      Any and all notices or other communications required or permitted to be
given under any of the provisions of this Note shall be in writing and shall be
deemed to have been duly given when personally delivered or five days after the
date mailed, postage prepaid, by first class certified mail, return receipt
requested, addressed to the parties at the addresses set forth above (or at such
other address as a party may specify by notice to all other parties given as
aforesaid), together with copies, and if possible by telecopy as well, if to the
Maker, to Mr. John Pritchard, President, Gold Run Inc., 330 Bay Street, Suite
820, Toronto, Ontario M5H 2S8, CANADA, (telecopy number: (416-364-2292).

      IN WITNESS WHEREOF, the undersigned has caused this Note to be executed
and delivered as of the day and year first above written.

                                            GOLD RUN INC.

                                            By______________________________
                                                   John Pritchard
                                                   Chief Executive Officer
<PAGE>

                                                                          (date)
Gold Run Inc.                                                             Page 8

                                   APPENDIX II

                                HOW TO SUBSCRIBE

      1.    This Subscription Agreement must be completed, signed, dated and
            faxed to:

            Gold Run Inc.
            c/o Berns & Berns
            767 Third Avenue
            23rd Floor
            New York, New York 10017

            Telephone: (212) 332-3320
            Telecopier: (212) 332-3315

      2.    Also, please mail an original signed copy to this address.

      3.    Payment for the Shares must be made by wire transfer in U.S. dollars
            to the following account:

            ACCOUNT NAME: Gold Run Inc.
            BANK: JP Morgan Chase
            ADDRESS: 401 Madison Avenue, New York, NY 10017
            ACCOUNT NUMBER: 907 0868385 65
            ABA ROUTING NUMBER: 021000021
<PAGE>

                                                                          (date)
Gold Run Inc.                                                             Page 9

                                  APPENDIX III

The Undersigned hereby certifies that it is an Accredited Investor as that term
is defined in Rule 501(a) of Regulation D, promulgated pursuant to the
Securities Act of 1933, as amended. THE SPECIFIC CATEGORY OF ACCREDITED INVESTOR
APPLICABLE TO THE UNDERSIGNED IS CHECKED BELOW. ALL REFERENCES TO DOLLAR AMOUNTS
IN THIS APPENDIX III ARE IN U.S. CURRENCY.

_____       a) Any bank as defined in Section 3(a)(2) of the Securities Act, or
            any savings and loan association or other institution as defined in
            Section 3(a)(5)(A) of the Securities Act whether acting in its
            individual or fiduciary capacity; any broker or dealer registered
            pursuant to Section 15 of the Securities Exchange Act of 1934;
            insurance company as defined in Section 2(13) of the Securities Act;
            investment company registered under the Investment Company Act of
            1940 or a business development company as defined in Section
            2(a)(48) of the Securities Act; Small Business Investment Company
            licensed by the U.S. Small Business Administration under Section
            301(c) or (d) of the Small Business Investment Act of 1958; any plan
            established and maintained by a state, its political subdivisions,
            or any agency or instrumentality of a state or its political
            subdivisions for the benefit of its employees, if such plan has
            total assets in excess of $5,000,000; employee benefit plan within
            the meaning of Title I of the Employee Retirement Income Security
            Act of 1974, if the investment decision is made by a plan fiduciary,
            as defined in Section 3(21) of such act, which is either a bank,
            savings and loan association, insurance company, or registered
            investment adviser, or if the employee benefit plan has total assets
            in excess of $5,000,000 or, if a self-directed plan, with investment
            decisions made solely by persons that are accredited investors;

_____       b) Any private business development company as defined in Section
            202(a)(22) of the Investment Advisers Act of 1940;

_____       c) Any organization described in Section 501(c)(3) of the Internal
            Revenue Code, corporation, Massachusetts or similar business trust,
            or partnership, not formed for the specific purpose of acquiring the
            securities offered, with total assets in excess of $5,000,000;
<PAGE>

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Gold Run Inc.                                                            Page 10

_____       d) Any director, executive officer, or general partner of the issuer
            of the securities being offered or sold, or any director, executive
            officer, or general partner of a general partner of that issuer;

_____       e) Any natural person whose individual net worth, or joint net worth
            with that person's spouse, at the time of his purchase exceeds
            $1,000,000;

_____       f) Any natural person who had an individual income in excess of
            $200,000 in each of the two most recent years or joint income with
            that person's spouse in excess of $300,000 in each of those years
            and has a reasonable expectation of reaching the same income level
            in the current year;

_____       g) Any trust, with total assets in excess of $5,000,000, not formed
            for the specific purpose of acquiring the securities offered, whose
            purchase is directed by a sophisticated person as described in
            Section 230.506(b)(2)(ii); and

_____       h) Any entity in which all of the equity owners are accredited
            investors.

                                                   _________________________
                                                   Name of Investor

                                                   By:  ____________________
                                                   Name:
                                                   Title:

                                                   Date: ___________________

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