Document:

BRAZAURO RESOURCES
CORPORATION

(filed previously under Star Resources Corp.)

2003 STOCK OPTION PLAN AMENDED

AS AT JULY 28, 2005 and AMENDED AS AT JULY 31, 2006  

	1.  	   	PURPOSE
OF THE PLAN  

	  	
The
Company hereby establishes a stock option plan for directors, senior officers Employees,
Management Company Employees and Consultants (as such terms are defined below) of the
Company and its subsidiaries (collectively “Eligible Persons”), to be known as
the “2003 Stock Option Plan” (the “Plan”). The purpose of the Plan is
to give to Eligible Persons, as additional compensation, the opportunity to participate
in the success of the Company by granting to such individuals options, exercisable over
periods of up to five years as determined by the board of directors of the Company, to
buy shares of the Company at a price not less than the Market Price prevailing on the
date the option is granted less applicable discount, if any, permitted by the policies of
the Exchanges and approved by the Board.  

	2.  	   	DEFINITIONS  

	  	
In
this Plan, the following terms shall have the following meanings:  

	  	         2.1 	  	“Associate” means
an “Associate” as defined in the Exchange Policies.  

	  	         2.2  	  	“Board”
means the Board of Directors of the Company.  

	  	2.3 	  	
“Change of Control” means the acquisition by any person or by any person
and all Joint Actors, whether directly or indirectly, of voting securities (as defined in
the Securities Act) of the Company, which, when added to all other voting securities of
the Company at the time held by such person or by such person and a Joint Actor, totals
for the first time not less than fifty percent (50%) of the outstanding voting securities
of the Company or the votes attached to those securities are sufficient, if exercised, to
elect a majority of the Board of Directors of the Company. 

	  	2.4  	  	“Company”
means Brazauro Resources Corporation (previously Star Resources Corp.) and its successors.  

	  	2.5  	  	“Consultant”
means a “Consultant” as defined in the TSX Policies.  

	  	2.6  	  	“Consultant
Company” means a “Consultant Company” as defined in the TSX Policies.  

	  	2.7  	  	“Disability” means
any disability with respect to an Optionee which the Board, in its sole and unfettered
discretion, considers likely to prevent permanently the Optionee from:  

	  	  	(a)  	  	being
employed or engaged by the Company, its subsidiaries or another employer,
                    in a position the same as or similar to that in which he was last
employed or                     engaged by the Company or its subsidiaries; or  

	  	  	(b)  	  	acting
as a director or officer of the Company or its subsidiaries.  

	  	2.8  	  	“Discounted
Market Price” of Shares means, if the Shares are listed only on the TSX Venture
Exchange, the Market Price less the maximum discount permitted under the TSX Policy
applicable to Options;  

	  	2.9  	  	“Distribution”
means a “Distribution” as defined in the TSX Policies.  

	  	2.10  	  	“Eligible
Persons” has the meaning given to that term in paragraph 1 hereof.  

	  	2.11  	  	“Employee”
means an “Employee” as defined in the TSX Policies.  

	  	2.12  	  	“Exchanges”means
the TSX Venture Exchange and, if applicable, any other stock exchange on which the Shares
are listed.  

	  	2.13  	  	“Expiry
Date” means the date set by the Board under section 3.1 of the Plan, as the last
date on which an Option may be exercised.  

	  	2.14  	  	“Grant
Date” means the date specified in an Option Agreement as the date on which an Option is
granted.  

	  	2.15  	  	“Insider” means
an “Insider” as defined in the TSX Policies, other than a person who is an
insider solely by virtue of being a director or senior officer of a subsidiary of the
Company.  

	  	2.16  	  	“Investor
Relations Activities” means “Investor Relations Activities” as defined in the TSX
Policies.  

	  	2.17  	  	“Joint
Actor” means a person acting “jointly or in concert with” another
person as that phrase is interpreted in section 96 of the Securities Act.  

	  	2.18  	  	“Management
Company Employee” means a “Management Company Employee” as defined in the TSX Policies.  

	  	2.19  	  	“Market
Price” of Shares at any Grant Date means the last closing price per Share on the
trading day immediately preceding the day on which the Company announces the grant of the
option or, if the grant is not announced, on the Grant Date, or if the Shares are not
listed on any stock exchange, “Market Price” of Shares means the price per
Share on the over-the-counter market determined by dividing the aggregate sale price of
the Shares sold by the total number of such Shares so sold on the applicable market for
the last day prior to the Grant Date.  

	  	2.20  	  	“Option”
means an option to purchase Shares granted pursuant to this Plan.  

	  	2.21  	  	“Option
Agreement” means an agreement, in the form attached hereto as Schedule “A”,
whereby the Company grants to an Optionee an Option.  

	  	2.22  	  	“Optionee” means
each of the Eligible Persons granted an Option pursuant to this Plan and their heirs,
executors and administrators.  

	  	2.23  	  	“Option
Price” means the price per Share specified in an Option Agreement, adjusted from
time to time in accordance with the provisions of section 5.  

	  	2.24  	  	“Option
Shares” means the aggregate number of Shares which an Optionee may purchase under an
Option.  

	  	2.25  	  	“Plan”means
this 2003 Stock Option Plan.  

	  	2.26  	  	“Shares” means
the common shares in the capital of the Company as constituted on the Grant Date provided
that, in the event of any adjustment pursuant to section 5, “Shares” shall
thereafter mean the shares or other property resulting from the events giving rise to the
adjustment.  

	  	2.27  	  	“Securities
Act” means the Securities Act, R.S.B.C. 1996, c.418, as amended, as at the date hereof.  

	  	2.28  	  	“TSX
Policies” means the policies included in the TSX Venture Exchange Corporate
Finance Manual and “TSX Policy” means any one of them.  

	  	2.29  	  	“Unissued
Option Shares” means the number of Shares, at a particular time, which have been
reserved for issuance upon the exercise of an Option but which have not been issued, as
adjusted from time to time in accordance with the provisions of section 5, such
adjustments to be cumulative.  

	  	2.30  	  	“Vested” means
that an Option has become exercisable in respect of a number of Option Shares by the
Optionee pursuant to the terms of the Option Agreement.  

	3.  	   	GRANT
OF OPTIONS  

	  	3.1  	   	Option
Terms  

	  	
The
Board may from time to time authorize the issue of Options to Eligible Persons. The
Option Price under each Option shall be not less than the Discounted Market Price on the
Grant Date. The Expiry Date for each Option shall be set by the Board at the time of
issue of the Option and shall not be more than five years after the Grant Date. Options
shall not be assignable (or transferable) by the Optionee.  

	  	3.2  	   	Limits
on Shares Issuable on Exercise of Options  

	  	
The
maximum number of Shares which may be issuable pursuant to options granted under the Plan
shall be 10,000,000  Shares or such additional amount as may be
approved from time to time by the shareholders of the Company. The number of Shares
reserved for issuance under the Plan and all of the Company’s other previously
established or proposed share compensation arrangements:  

	  	  	(a)	  	in aggregate
shall not exceed 20% of the total number of issued and outstanding Shares on the Grant
Date on a non-diluted basis; and  

	  	  	(b)  	  	to
any one Optionee within a 12 month period shall not exceed 5% of the total
                    number of issued and outstanding shares on the Grant Date on a
non-diluted                     basis.  

	  	
The
number of Shares which may be issuable under the Plan and all of the Company’s other
previously established or proposed share compensation arrangements, within a one-year
period: 

	  	  	(a)  	  	to
any one Optionee, shall not exceed 5% of the total number of issued and
                    outstanding Shares on the Grant Date on a non-diluted basis;  

	  	  	(b)  	  	to
Insiders as a group shall not exceed 20% of the total number of issued and
                    outstanding Shares on the Grant Date on a non-diluted basis;  

	  	  	(c)  	  	to
any one Consultant shall not exceed 2% in the aggregate of the total number
                    of issued and outstanding Shares on the Grant Date on a non-diluted
basis; and  

	  	  	(d)  	  	to
all Eligible Persons who undertake Investor Relations Activities shall not
                    exceed 2% in the aggregate of the total number of issued and
outstanding Shares                     on the Grant Date on a non-diluted basis.  

	  	3.3  	   	Option
Agreements  

	  	
Each
Option shall be confirmed by the execution of an Option Agreement. Each Optionee shall
have the option to purchase from the Company the Option Shares at the time and in the
manner set out in the Plan and in the Option Agreement applicable to that Optionee. For
stock options to Employees, Consultants, Consultant Companies or Management Company
Employees, the Company is representing herein and in the applicable Stock Option Agreement
that the Optionee is a bona fide Employee, Consultant, Consultant Company or Management
Company Employee, as the case may be, of the Company or its subsidiary. The execution of
an Option Agreement shall constitute conclusive evidence that it has been completed in
compliance with this Plan. 

	4.  	   	EXERCISE
OF OPTION  

	  	4.1  	   	When
Options May be Exercised  

	  	
Subject
to sections 4.3 and 4.4, an Option may be exercised to purchase any number of Shares up to
the number of Vested Unissued Option Shares at any time after the Grant Date up to 4:00
p.m. local time on the Expiry Date and shall not be exercisable thereafter. 

	  	4.2  	   	Manner
of Exercise  

	  	
The
Option shall be exercisable by delivering to the Company a notice specifying the number of
Shares in respect of which the Option is exercised together with payment in full of the
Option Price for each such Share. Upon notice and payment there will be a binding contract
for the issue of the Shares in respect of which the Option is exercised, upon and subject
to the provisions of the Plan. Delivery of the Optionee’s cheque payable to the
Company in the amount of the Option Price shall constitute payment of the Option Price
unless the cheque is not honoured upon presentation in which case the Option shall not
have been validly exercised. 

	  	4.3  	   	Vesting
of Option Shares  

	  	
The
Directors, subject to the policies of the Exchanges, may determine and impose terms upon
which each Option shall become Vested in respect of Option Shares. Current policies of the
TSX Venture Exchange provide that minimum vesting requirements shall be 25% of the Option
upon TSX Venture Exchange approval and 12 1/2% every quarter thereafter which is the
vesting period hereby adopted by the directors of the Company. 

	  	4.4  	   	Termination
of Employment  

	  	
If
an Optionee ceases to be an Eligible Person, his or her Option shall be exercisable as
follows:  

	  	  	(a)  	  	Death
or Disability  

	  	
If
the Optionee ceases to be an Eligible Person, due to his or her death or Disability or, in
the case of an Optionee that is a company, the death or Disability of the person who
provides management or consulting services to the Company or to any entity controlled by
the Company, the Option then held by the Optionee shall be exercisable to acquire Vested
Unissued Option Shares at any time up to but not after the earlier of: 

	  	  	  	(i) 	  	365
days after the date of death or Disability; and  

	  	  	  	(ii)  	  	the
Expiry Date; 

	  	  	(b)  	  	Termination
For Cause  

	  	
If
the Optionee, or in the case of a Management Company Employee or a Consultant Company, the
Optionee’s employer, ceases to be an Eligible Person as a result of termination for
cause, as that term is interpreted by the courts of the jurisdiction in which the
Optionee, or, in the case of a Management Company Employee or a Consultant Company, of the
Optionee’s employer, is employed or engaged; any outstanding Option held by such
Optionee on the date of such termination, whether in respect of Option Shares that are
Vested or not, shall be cancelled as of that date. 

	  	  	(c)  	  	Early
Retirement, Voluntary Resignation or Termination Other than For Cause  

	  	
If
the Optionee or, in the case of a Management Company Employee or a Consultant Company, the
Optionee’s employer, ceases to be an Eligible Person due to his or her retirement at
the request of his or her employer earlier than the normal retirement date under the
Company’s retirement policy then in force, or due to his or her termination by the
Company other than for cause, or due to his or her voluntary resignation, the Option then
held by the Optionee shall be exercisable to acquire Vested Unissued Option Shares at any
time up to but not after the earlier of the Expiry Date and the date which is 90 days (30
days if the Optionee was engaged in Investor Relations Activities) after the Optionee or,
in the case of a Management Company Employee or a Consultant Company, the Optionee’s
employer, ceases to be an Eligible Person. 

	  	
For
greater certainty, an Option that had not become Vested in respect of certain Unissued
Option Shares at the time that the relevant event referred to in this paragraph 4.4
occurred, shall not be or become vested or exercisable in respect of such Unissued Option
Shares and shall be cancelled. 

	  	4.5  	   	Effect
of a Take-Over Bid  

	  	
If
a bona fide offer ( an “Offer”) for Shares is made to the Optionee or to
shareholders of the Company generally or to a class of shareholders which includes the
Optionee, which Offer, if accepted in whole or in part, would result in the offeror
becoming a control person of the Company, within the meaning of subsection 1(1) of the
Securities Act, the Company shall, immediately upon receipt of notice of the Offer,
notify each Optionee of full particulars of the Offer, whereupon all Option Shares
subject to such Option will become Vested and the Option may be exercised in whole or in
part by the Optionee so 

	  	
as
to permit the Optionee to tender the Option Shares received upon such exercise, pursuant
to the Offer. However, if:  

	  	  	(a)  	  	the
Offer is not completed within the time specified therein; or  

	  	  	(b)  	  	all
of the Option Shares tendered by the Optionee pursuant to the Offer are not
                    taken up or paid for by the offeror in respect thereof,  

	  	
then
the Option Shares received upon such exercise, or in the case of clause (b) above, the
Option Shares that are not taken up and paid for, may be returned by the Optionee to the
Company and reinstated as authorized but unissued Shares and with respect to such returned
Option Shares, the Option shall be reinstated as if it had not been exercised and the
terms upon which such Option Shares were to become Vested pursuant to paragraph 4.3 shall
be reinstated. If any Option Shares are returned to the Company under this paragraph 4.5,
the Company shall immediately refund the exercise price to the Optionee for such Option
Shares. 

	  	4.6  	   	Acceleration
of Expiry Date  

	  	
If
at any time when an Option granted under the Plan remains unexercised with respect to any
Unissued Option Shares, an Offer is made by an offeror, the Directors may, upon notifying
each Optionee of full particulars of the Offer, declare all Option Shares issuable upon
the exercise of Options granted under the Plan, Vested, and declare that the Expiry Date
for the exercise of all unexercised Options granted under the Plan is accelerated so that
all Options will either be exercised or will expire prior to the date upon which Shares
must be tendered pursuant to the Offer. The Directors shall give each Optionee as much
notice as possible of the acceleration of the Options under this section, except that not
less than 5 business days and not more than 35 days notice is required. 

	  	4.7  	   	Effect
of a Change of Control  

	  	
If
a Change of Control occurs, all Option Shares subject to each outstanding Option will
become Vested, whereupon such Option may be exercised in whole or in part by the Optionee,
subject to the approval of the Exchanges, if necessary. 

	  	4.8  	   	Exclusion
From Severance Allowance, Retirement Allowance or Termination Settlement  

	  	
If
the Optionee, or, in the case of a Management Company Employee or a Consultant Company,
the Optionee’s employer, retires, resigns or is terminated from employment or
engagement with the Company or any subsidiary of the Company, the loss or limitation, if
any, pursuant to the Option Agreement with respect to the right to purchase Option Shares
which were not Vested at that time or which, if Vested, were cancelled, shall not give
rise to any right to damages and shall not be included in the calculation of nor form any
part of any severance allowance, retiring allowance or termination settlement of any kind
whatsoever in respect of such Optionee. 

	  	 4.9  	   	Shares
Not Acquired  

	  	
Any
Unissued Option Shares not acquired by an Optionee under an Option which has expired may
be made the subject of a further Option pursuant to the provisions of the Plan. 

	5.  	   	ADJUSTMENT
OF OPTION PRICE AND NUMBER OF OPTION SHARES  

	  	5.1  	   	Share
Reorganization  

	  	
Whenever
the Company issues Shares to all or substantially all holders of Shares by way of a stock
dividend or other distribution, or subdivides all outstanding Shares into a greater number
of Shares, or combines or consolidates all outstanding Shares into a lesser number of
Shares (each of such events being herein called a “Share Reorganization”) then
effective immediately after the record date for such dividend or other distribution or the
effective date of such subdivision, combination or consolidation, for each Option: 

	  	  	(a) 	  	the
Option Price will be adjusted to a price per Share which is the product of:  

	  	  	  	(i) 	  	the
Option Price in effect immediately before that effective date or record           date;
and  

	  	  	  	(ii)  	  	a
fraction, the numerator of which is the total number of Shares outstanding on
          that effective date or record date before giving effect to the Share
          Reorganization, and the denominator of which is the total number of Shares that
          are or would be outstanding immediately after such effective date or record
date           after giving effect to the Share Reorganization; and  

	  	  	(b)  	  	the
number of Unissued Option Shares will be adjusted by multiplying (i) the
                    number of Unissued Option Shares immediately before such effective
date or                     record date by (ii) a fraction which is the reciprocal of the
fraction described                     in subsection (a)(ii).  

	  	5.2  	   	Special
Distribution  

	  	
Subject
to the prior approval of the Exchanges, whenever the Company issues by way of a dividend
or otherwise distributes to all or substantially all holders of Shares; 

	  	  	(a)  	  	shares
of the Company, other than the Shares;  

	  	  	(b)  	  	evidences
of indebtedness;  

	  	  	(c)  	  	any
cash or other assets, excluding cash dividends (other than cash dividends
                    which the Board of Directors of the Company has determined to be
outside the                     normal course); or  

	  	  	(d)  	  	rights,
options or warrants;  

	  	
then
to the extent that such dividend or distribution does not constitute a Share
Reorganization (any of such non-excluded events being herein called a “Special
Distribution”), and effective immediately after the record date at which holders of
Shares are determined for purposes of the Special Distribution, for each Option the
Option Price will be reduced, and the number of Unissued Option Shares will be
correspondingly 

	  	
increased,
by such amount, if any, as is determined by the Board in its sole and unfettered
discretion to be appropriate in order to properly reflect any diminution in value of the
Option Shares as a result of such Special Distribution.  

	  	5.3  	   	Corporate
Organization  

	  	
Whenever
there is: 

	  	  	(a)  	  	a
reclassification of outstanding Shares, a change of Shares into other shares
                    or securities, or any other capital reorganization of the Company,
other than as                     described in sections 5.1 or 5.2;  

	  	  	(b)  	  	a
consolidation, merger or amalgamation of the Company with or into another
                    corporation resulting in a reclassification of outstanding Shares
into other                     shares or securities or a change of Shares into other
shares or securities; or  

	  	  	(c)  	  	a
transaction whereby all or substantially all of the Company’s undertaking
                    and assets become the property of another corporation;  

	  	
(any
such event being herein called a “Corporate Reorganization”) the Optionee will
have an option to purchase (at the times, for the consideration, and subject to the terms
and conditions set out in the Plan) and will accept on the exercise of such option, in
lieu of the Unissued Option Shares which he would otherwise have been entitled to
purchase, the kind and amount of shares or other securities or property that he would have
been entitled to receive as a result of the Corporate Reorganization if, on the effective
date thereof, he had been the holder of all Unissued Option Shares or if appropriate, as
otherwise determined by the Directors. 

	  	5.4  	   	Determination
of Option Price and Number of Unissued Option Shares  

	  	
If
any questions arise at any time with respect to the Option Price or number of Unissued
Option Shares deliverable upon exercise of an Option following a Share Reorganization,
Special Distribution or Corporate Reorganization, such questions shall be conclusively
determined by the Company’s auditor, or, if they decline to so act, any other firm of
Chartered Accountants in Vancouver, British Columbia, that the Directors may designate and
who will have access to all appropriate records and such determination will be binding
upon the Company and all Optionees. 

	  	5.5  	   	Regulatory
Approval  

	  	
Any
adjustment to the Option Price or the number of Unissued Option Shares purchasable under
the Plan pursuant to the operation of any one of paragraphs 5.1, 5.2 or 5.3 is subject to
the approval of the Exchanges and any other governmental authority having jurisdiction. 

	6.  	   	MISCELLANEOUS  

	  	6.1  	   	Eligibility  

	  	
Options
which may qualify as “incentive stock options” (“ISOs”) under Section
422A of the United States Revenue Code of 1986 as amended or non-qualified stock options
(collectively “Options”) may be granted under the Plan to such directors,
officers and  

	  	
employees,
including part time and shared employees, of the Corporation and of its subsidiaries as
the Board of Directors may from time to time designate as participants under the Plan.
Subject to the provisions of this Plan, the number of Option Shares to be made available
to each Participant, the time or times and price or prices at which options shall be
granted, the time or times at which such options are exercisable, and any conditions or
restrictions on the exercise of options, shall, subject to the terms of this agreement,
be in the full and final discretion of the Board of Directors.  

	  	6.2  	   	Right
to Employment  

	  	
Neither
this Plan nor any of the provisions hereof shall confer upon any Optionee any right with
respect to employment or continued employment with the Company or any subsidiary of the
Company or interfere in any way with the right of the Company or any subsidiary of the
Company to terminate such employment. 

	  	6.3  	   	Necessary
Approvals  

	  	
The
Plan shall be effective only upon the approval of the shareholders of the Company given by
way of an ordinary resolution. Any Options granted under this Plan prior to such approval
shall only be exercised upon the receipt of such approval. Disinterested shareholder
approval (as required by the Exchanges) will be obtained for any reduction in the exercise
price of any Option granted under this Plan if the Optionee is an Insider of the Company
at the time of the proposed amendment. The obligation of the Company to sell and deliver
Shares in accordance with the Plan is subject to the approval of the Exchanges and any
governmental authority having jurisdiction. If any Shares cannot be issued to any Optionee
for any reason, including, without limitation, the failure to obtain such approval, then
the obligation of the Company to issue such Shares shall terminate and any Option Price
paid by an Optionee to the Company shall be immediately refunded to the Optionee by the
Company. 

	  	6.4  	   	Administration
of the Plan  

	  	
The
Directors shall, without limitation, have full and final authority in their discretion,
but subject to the express provisions of the Plan, to interpret the Plan, to prescribe,
amend and rescind rules and regulations relating to the Plan and to make all other
determinations deemed necessary or advisable in respect of the Plan. Except as set forth
in section 5.4, the interpretation and construction of any provision of the Plan by the
Directors shall be final and conclusive. Administration of the Plan shall be the
responsibility of the appropriate officers of the Company and all costs in respect thereof
shall be paid by the Company. 

	  	6.5  	   	Income
Taxes  

	  	
As
a condition of and prior to participation in the Plan any Optionee shall on request
authorize the Company in writing to withhold from any remuneration otherwise payable to
him or her any amounts required by any taxing authority to be withheld for taxes of any
kind as a consequence of his or her participation in the Plan. 

	  	6.6  	   	Amendments
to the Plan  

	  	
The
Directors may from time to time, subject to applicable law and to the prior approval, if
required, of the Exchanges or any other regulatory body having authority over the Company
or the Plan, suspend, terminate or discontinue the Plan at any time, or amend or revise
the terms of the Plan or of any Option granted under the Plan and the Option Agreement
relating thereto, provided that no such amendment, revision, suspension, termination or
discontinuance shall in any manner adversely affect any Option previously granted to an
Optionee under the Plan without the consent of that Optionee. Any amendments to the Plan
or options granted thereunder will be subject to the approval of the shareholders. 

	  	6.7  	   	Form
of Notice  

	  	
A
notice given to the Company shall be in writing, signed by the Optionee and delivered to
the head business office of the Company. 

	  	6.8  	   	No
Representation or Warranty  

	  	
The
Company makes no representation or warranty as to the future market value of any Shares
issued in accordance with the provisions of the Plan. 

	  	6.9  	   	Compliance
with Applicable Law  

	  	
If
any provision of the Plan or any Option Agreement contravenes any law or any order,
policy, by-law or regulation of any regulatory body or Exchange having authority over the
Company or the Plan, then such provision shall be deemed to be amended to the extent
required to bring such provision into compliance therewith. 

	  	6.10  	   	No
Assignment  

	  	
No
Optionee may assign any of his or her rights under the Plan or any option granted
thereunder.  

	  	6.11  	   	Rights
of Optionees  

	  	
An
Optionee shall have no rights whatsoever as a shareholder of the Company in respect of any
of the Unissued Option Shares (including, without limitation, voting rights or any right
to receive dividends, warrants or rights under any rights offering). 

	  	6.12  	   	Conflict  

	  	
In
the event of any conflict between the provisions of this Plan and an Option Agreement, the
provisions of this Plan shall govern. 

	  	6.13  	   	Governing
Law  

	  	
The
Plan and each Option Agreement issued pursuant to the Plan shall be governed by the laws
of the province of British Columbia. 

	  	6.14  	   	Time
of Essence  

	  	
Time
is of the essence of this Plan and of each Option Agreement. No extension of time will be
deemed to be or to operate as a waiver of the essentiality of time. 

	  	6.15  	   	Entire
Agreement  

	  	
This
Plan and the Option Agreement sets out the entire agreement between the Company and the
Optionees relative to the subject matter hereof and supersedes all prior agreements,
undertakings and understandings, whether oral or written. 

Approved by the Board of
Directors on July 14, 2005 

SCHEDULE “A”

BRAZAURO RESOURCES CORPORATION

STOCK OPTION PLAN

OPTION AGREEMENT  

Without prior written
approval of the TSX Venture Exchange and compliance with all applicable securities
legislation, the securitiesrepresented by this agreement and any securities issued
upon exercise thereof may not be sold, transferred, hypothecated or otherwisetraded on
or through the facilities of the TSX Venture Exchange or otherwise in Canada or to or for
the benefit of a Canadianresident until [four months + one day], 200____.  

This Option Agreement is entered into
between Brazauro Resources Corporation (“the Company”) and the Optionee named
below pursuant to the Company Stock Option Plan (the “Plan”), a copy of which is
attached hereto, and confirms that: 

	1.  	  	on
______________________________, 200___ (the “Grant Date”); 

	2.  	  	___________________
(the “Optionee”) of __________________________________________; 

	3.  	  	was
granted the option (the “Option”) to purchase __________ Common
          Shares (the “Option Shares”) of the Company;  

	4.  	  	for
the price (the “Option Price”) of $________ per share; 

	5.  	  	which
shall be exercisable (“Vested”) as to 25% upon TSX Venture           Exchange
approval and 12 1/2% every quarter thereafter;  

	6.  	  	terminating
on the _________________________, 200____ (the “Expiry Date”); 

all on the terms and subject to the
conditions set out in the Plan. For greater certainty, once Option Shares have become
Vested, they continue to be exercisable until the termination or cancellation thereof as
provided in this Option Agreement and the Plan. 

By signing this Option Agreement, the
Optionee acknowledges that the Optionee has read and understands the Plan and agrees to
the terms and conditions of the Plan and this Option Agreement. 

IN WITNESS WHEREOF the parties hereto
have executed this Option Agreement as of the ______ day of _____________________,
200____. 

BRAZAURO RESOURCES
CORPORATION 

		
	Per: __________________________________	____________________________________
	Authorized Signatory	[Insert Name of Optionee]EXHIBIT 4.1

         NUMBER                                                   SHARES

          PRGX
                                      PRG
      COMMON STOCK                   SCHULTZ                   COMMON STOCK

INCORPORATED UNDER THE LAWS                                   SEE REVERSE FOR
 OF THE STATE OF GEORGIA                                    CERTAIN DEFINITIONS

                                                             CUSIP 69357C 50 3

This Certifies that

is the owner of

    FULLY PAID AND NONASSESSABLE SHARES OF THE NO PAR VALUE COMMON STOCK OF

                        PRG-SCHULTZ INTERNATIONAL, INC.

<TABLE>
<S>                                                                               <C>
transferable on the books of the Corporation by the holder hereof                 Countersigned and Registered:
in person or by duly authorized attorney on surrender of this                     AMERICAN STOCK TRANSFER & TRUST COMPANY
certificate properly endorsed.                                                    (NEW YORK, NY)

     This certificate is not valid until countersigned                            Transfer Agent
and registered by the Transfer Agent and Registrar.                               and Registrar

WITNESS the facsimile seal of the Corporation and the facsimile
signatures of its duly authorized officers.

</TABLE>
Authorized Signature

                        PRG-SCHULTZ INTERNATIONAL, INC.
Dated:                             CORPORATE
                                      SEAL
/s/ Victor A. Allums                 GEORGIA            /s/ James B. McCurry
-------------------------                               -----------------------
     SECRETARY                                               PRESIDENT AND
                                                        CHIEF EXECUTIVE OFFICER

<PAGE>

                        PRG-SCHULTZ INTERNATIONAL, INC.

         THE CORPORATION WILL FURNISH WITHOUT CHARGE TO EACH SHAREHOLDER WHO SO
REQUESTS A COPY OF THE POWERS, DESIGNATIONS, PREFERENCES AND RELATIVE,
PARTICIPATING, OPTIONAL OR OTHER SPECIAL RIGHTS OF EACH CLASS OF STOCK OR
SERIES THEREOF OF THE CORPORATION, AND THE QUALIFICATIONS, LIMITATIONS OR
RESTRICTIONS ON SUCH PREFERENCES AND/OR RIGHTS.

         The following abbreviations, when used in the inscription on the face
of this certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:

<TABLE>
<S>                                         <C>
TEN COM - as tenants in common              UNIF GIFT MIN ACT - __________ Custodian _________________
TEN ENT - as tenants by the entireties                             (Cust)                 (Minor)
JT TEN -  as joint tenants with right of                          under Uniform Gifts to Minors Act
          survivorship and not as tenants
          in common                                               ---------------------------------
                                                                             (State)
</TABLE>

    Additional abbreviations may also be used though not in the above list.

         For value received,
                             --------------------------------------------------
hereby sell, assign and transfer unto

PLEASE INSERT SOCIAL SECURITY OR OTHER
  IDENTIFYING NUMBER OF ASSIGNEE
[                                    ]

-------------------------------------------------------------------------------
  (PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE OF ASSIGNEE)

-------------------------------------------------------------------------------

-------------------------------------------------------------------------------
                                                                         shares
------------------------------------------------------------------------
of the capital stock represented by the within Certificate, and do hereby
irrevocably constitute and appoint
                                                                      Attorney
---------------------------------------------------------------------
to transfer the said stock on the books of the within named Corporation with
full power of substitution in the premises.

Dated
      --------------------------------------

                  -------------------------------------------------------------
         NOTICE:  THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE
                  NAME AS WRITTEN UPON THE FACE OF THE CERTIFICATE IN EVERY
                  PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE
                  WHATEVER.

SIGNATURE(S) GUARANTEED:
                        -------------------------------------------------------
                        THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE
                        GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND
                        LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN
                        AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM),
                        PURSUANT TO S.E.C. RULE 17Ad-15.

KEEP THIS CERTIFICATE IN A SAFE PLACE. IF IT IS LOST, STOLEN, MUTILATED OR
DESTROYED, THE CORPORATION WILL REQUIRE A BOND OF INDEMNITY AS A CONDITION TO
THE ISSUANCE OF A REPLACMENT CERTIFICATE.

Until the Separation Time (as defined in the Rights Agreement referred to
below), this certificate also evidences and entitles the holder hereof to
certain Rights as set forth in a Shareholder Protection Rights Agreement, dated
as of August 9, 2000 (as such may be amended from time to time, the "Rights
Agreement"), between PRG-Schultz International, Inc. f/k/a The Profit Recovery
Group International, Inc. (the "Company") and the Rights Agent, the terms of
which are hereby incorporated herein by reference and a copy of which is on file
at the principal executive offices of the Company. Under certain circumstances,
as set forth in the Rights Agreement, such Rights may be redeemed, may be
exchanged for shares of Common Stock or other securities or assets of the
Company or a Subsidiary of the Company, may expire, may become void (if they are
"Beneficially Owned" by an "Acquiring Person" or an Affiliate or Associate
thereof, as such terms are defined in the Rights Agreement, or by any transferee
of any of the foregoing) or may be evidenced by separate certificates and may no
longer be evidenced by this certificate. The Company will mail or arrange for
the mailing of a copy of the Rights Agreement to the holder of this certificate
without charge within five days after the receipt of a written request therefor.

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