Document:

Filed by Automated Filing Services Inc. (604) 609-0244 - Searchlight Minerals Corp. - Exhibit 10.29

SEARCHLIGHT MINERALS
CORP.

2006 STOCK OPTION PLAN

Established April 7, 2006

ARTICLE 1. 
THE PLAN

1.1 Title 

This plan is entitled the "2006 Stock Option Plan" (the "Plan")
of Searchlight Minerals Corp., a Nevada corporation (the "Company").

1.2 Purpose

The purpose of the Plan is to enhance the long-term stockholder
value of the Company by offering opportunities to directors, officers, employees
and eligible consultants of the Company and any Related Company, as defined
below, to acquire and maintain stock ownership in the Company in order to give
these persons the opportunity to participate in the Company's growth and
success, and to encourage them to remain in the service of the Company or a
Related Company. 

ARTICLE 2. 
DEFINITIONS 

2.1 Definitions

The following terms will have the following meanings in the
Plan: 

"Award" means any Option granted under this Plan. 

"Board" means the Board of Directors of the Company.

"Cause," unless otherwise defined in the
instrument evidencing the award or in an employment or services agreement
between the Company or a Related Company and a Participant, means a material
breach of the employment or services agreement, dishonesty, fraud, misconduct,
unauthorized use or disclosure of confidential information or trade secrets, or
conviction or confession of a crime punishable by law (except minor violations),
in each case as determined by the Plan Administrator, and its determination
shall be conclusive and binding. 

"Code" means the Internal Revenue Code of 1986, as
amended from time to time. 

"Common Stock" means the shares of common stock, par
value $0.001 per share, of the Company. 

“Consultant” means any consultant, agent, advisor or
independent contractor who provides services to the Company or a Related
Company, but does not include an officer or director of the Company.

"Consultant Participant" means a Participant who is
defined as a Consultant Participant in Article 5. 

"Corporate Transaction," unless otherwise defined in the
instrument evidencing the Award or in a written employment or services agreement
between the Company or a Related Company and a Participant, means consummation
of either:

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	(a) 	
      a merger or consolidation of the Company with or into any
      other corporation, entity or person or

	 	 
	(b) 	
      a sale, lease, exchange or other transfer in one
      transaction or a series of related transactions of all or substantially
      all the Company's outstanding securities or all or substantially all the
      Company's assets; provided, however, that a Corporate Transaction shall
      not include a Related Party Transaction.

"Disability," unless otherwise defined by the
Plan Administrator, means a mental or physical impairment of the Participant
that is expected to result in death or that has lasted or is expected to last
for a continuous period of 12 months or more and that causes the Participant to
be unable, in the opinion of the Company, to perform his or her duties for the
Company or a Related Company and to be engaged in any substantial gainful
activity. 

"Employment Termination Date" means, with respect to a
Participant, the first day upon which the Participant no longer has an
employment or service relationship with the Company or any Related Company.

"Exchange Act" means the Securities Exchange Act of
1934, as amended. 

"Fair Market Value" means the per share value of the
Common Stock determined as follows: (a) if the Common Stock is listed on an
established stock exchange or exchanges or the NASDAQ National Market, the
average closing price per share during the twenty trading days immediately
preceding such date on the principal exchange on which it is traded or as
reported by NASDAQ; (b) if the Common Stock is not then listed on an exchange or
the NASDAQ National Market, but is quoted on the NASDAQ Capital Market, the OTC
Bulletin Board service or the Pink Sheets electronic quotation service, the
average of the closing bid and ask prices per share for the Common Stock as
quoted by NASD, the OTC Bulletin Board or the Pink Sheets, as the case may be,
during the twenty trading days immediately preceding such date; or (c) if there
is no such reported market for the Common Stock for the date in question, then
an amount determined in good faith by the Plan Administrator.

"Grant Date" means the date on which the Plan
Administrator completes the corporate action relating to the grant of an Award
or such later date specified by the Plan Administrator, and on which all
conditions precedent to the grant have been satisfied, provided that conditions
to the exercisability or vesting of Awards shall not defer the Grant Date. 

"Incentive Stock Option" means an Option granted with
the intention, as reflected in the instrument evidencing the Option, that it
qualify as an "incentive stock option" as that term is defined in Section 422 of
the Code. 

"Non-Qualified Stock Option" means an Option other than
an Incentive Stock Option. 

"Option" means the right to purchase Common Stock
granted under Article 7. 

"Option Expiration Date" has the meaning set forth in
Article 7.6. 

"Option Term" has the meaning set forth in Article 7.3.

"Participant" means the person to whom an Award is
granted and who meets the eligibility requirements imposed by Article 5,
including Consultant Participants, as defined in Article 5. 

"Plan Administrator" has the meaning set forth in
Article 3.1. 

"Related Company" means any entity that, directly or
indirectly, is in control of or is controlled by the Company. 

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"Related Party Transaction" means: (a) a merger or
consolidation of the Company in which the holders of shares of Common Stock
immediately prior to the merger hold at least a majority of the shares of Common
Stock in the Successor Corporation immediately after the merger; (b) a sale,
lease, exchange or other transaction in one transaction or a series of related
transactions of all or substantially all the Company's assets to a wholly-owned
subsidiary corporation; (c) a mere reincorporation of the Company; or (d) a
transaction undertaken for the sole purpose of creating a holding company that
will be owned in substantially the same proportion by the persons who held the
Company's securities immediately before such transaction. 

"Securities Act" means the Securities Act of 1933, as
amended. 

"Successor Corporation" has the meaning set forth in
Article 11.3(a) . 

"Vesting Commencement Date" means the Grant Date or such
other date selected by the Plan Administrator as the date from which the Option
begins to vest for purposes of Article 7.4. 

ARTICLE 3. 
ADMINISTRATION 

3.1 Plan Administrator 

The Plan shall be administered by the Board or a committee
appointed by, and consisting of one or more members of, the Board (the "Plan
Administrator"). If and so long as the Common Stock is registered under Section
12(b) or 12(g) of the Exchange Act, the Board shall consider in selecting the
members of any committee acting as Plan Administrator, with respect to any
persons subject or likely to become subject to Section 16 of the Exchange Act,
the provisions regarding (a) "outside directors" as contemplated by Section
162(m) of the Code and (b) "non-employee directors" as contemplated by Rule
16b-3 under the Exchange Act. Committee members shall serve for such term as the
Board may determine, subject to removal by the Board at any time. At any time
when no committee has been appointed to administer the Plan, then the Board will
be the Plan Administrator.

3.2 Administration and Interpretation by Plan Administrator

Except for the terms and conditions explicitly set forth in the
Plan, the Plan Administrator shall have exclusive authority, in its discretion,
to determine all matters relating to Awards under the Plan, including the
selection of individuals to be granted Awards, the type of Awards, the number of
shares of Common Stock subject to an Award, all terms, conditions, restrictions
and limitations, if any, of an Award and the terms of any instrument that
evidences the Award. The Plan Administrator shall also have exclusive authority
to interpret the Plan and the terms of any instrument evidencing the Award and
may from time to time adopt and change rules and regulations of general
application for the Plan's administration. The Plan Administrator's
interpretation of the Plan and its rules and regulations, and all actions taken
and determinations made by the Plan Administrator pursuant to the Plan, shall be
conclusive and binding on all parties involved or affected. The Plan
Administrator may delegate administrative duties to such of the Company's
officers as it so determines. 

ARTICLE 4. 
STOCK SUBJECT TO THE PLAN

4.1 Authorized Number of Shares 

Subject to adjustment from time to time as provided in this
Article 4.1 and in Article 11.1, the maximum aggregate number of shares of
Common Stock available for issuance under the Plan shall be Forty 

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Million (40,000,000) shares. The maximum aggregate
number of shares of the Company’s Common Stock that may be optioned and sold
under the Plan will be increased effective the first day of each of the
Company’s fiscal quarters, beginning with the fiscal quarter commencing July 1,
2006, by an amount equal to the lesser of:

	 	(1) 	
      15% of the total increase in the number of shares of
      Common Stock outstanding during the previous fiscal quarter; or

	 	 	 
	 	(2) 	
      a lesser number of shares of Common Stock as may be
      determined by the Board.

4.2 Reuse of Shares 

Any shares of Common Stock that have been made subject to an
Award that cease to be subject to the Award (other than by reason of exercise or
settlement of the Award to the extent it is exercised for or settled in shares)
shall again be available for issuance in connection with future grants of Awards
under the Plan. In the event shares issued under the Plan are reacquired by the
Company pursuant to any forfeiture provision or right of repurchase, such shares
shall again be available for the purposes of the Plan; provided, however, that
the maximum number of shares that may be issued upon the exercise of Incentive
Stock Options shall equal the share number stated in Article 4.1, subject to
adjustment from time to time as provided in Article 11.1; and provided, further,
that for purposes of Article 4.3, any such shares shall be counted in accordance
with the requirements of Section 162(m) of the Code. 

ARTICLE 5. 
ELIGIBILITY 

5.1 Plan Eligibility

An Award may be granted to any officer, director or employee of
the Company or a Related Company that the Plan Administrator from time to time
selects. An Award may also be granted to any consultant, agent, advisor or
independent contractor who provides services to the Company or any Related
Company (a “Consultant Participant”), so long as such Consultant Participant:
(a) is a natural person; (b) renders bona fide services that are not in
connection with the offer and sale of the Company's securities in a
capital-raising transaction; and (c) does not directly or indirectly promote or
maintain a market for the Company's securities. 

ARTICLE 6. 
AWARDS 

6.1 Form and Grant of Awards 

The Plan Administrator shall have the authority, in its sole
discretion, to determine the type or types of Awards to be granted under the
Plan. Awards may be granted singly or in combination. 

6.2 Settlement of Awards 

The Company may settle Awards through the delivery of shares of
Common Stock, the granting of replacement Awards or any combination thereof as
the Plan Administrator shall determine. Any Award settlement, including payment
deferrals, may be subject to such conditions, restrictions and contingencies as
the Plan Administrator shall determine. The Plan Administrator may permit or
require the deferral of any Award payment, subject to such rules and procedures
as it may establish, which may include provisions for the payment or crediting
of interest, or dividend equivalents, including converting such credits into
deferred stock equivalents. 

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ARTICLE 7. 
AWARDS OF OPTIONS

7.1 Grant of Options 

The Plan Administrator shall have the authority, in its sole
discretion, to grant Options to Participants as Incentive Stock Options or as
Non-Qualified Stock Options, which shall be appropriately designated.

7.2 Option Exercise Price 

The exercise price for shares purchased under an Option shall
be as determined by the Plan Administrator, provided that:

	(a) 	
      the exercise price for Options granted to Participants
      other than Consultant Participants shall not be less than the minimum
      exercise price required by Article 8.3 with respect to Incentive Stock
      Options and shall not be less than 85% of the Fair Market Value of the
      Common Stock on the Grant Date with respect to Non-Qualified Stock
      Options;

	 	 
	(b) 	
      the exercise price for Options granted to Consultant
      Participants shall not be less than 85% of the Fair Market Value of the
      Common Stock on the Grant Date.

7.3 Term of Options 

Subject to earlier termination in accordance with the terms of
the Plan and the instrument evidencing the Option, the maximum term of an Option
(the "Option Term") shall be as established for that Option by the Plan
Administrator or, if not so established, shall be ten years from the Grant Date.

7.4 Exercise of Options 

The Plan Administrator shall establish and set forth in each
instrument that evidences an Option the time at which, or the installments in
which, the Option shall vest and become exercisable, any of which provisions may
be waived or modified by the Plan Administrator at any time. 

The Plan Administrator, in its sole discretion, may adjust the
vesting schedule of an Option held by a Participant who works less than
"full-time" as that term is defined by the Plan Administrator or who takes a
Company-approved leave of absence. 

To the extent an Option has vested and become exercisable, the
Option may be exercised in whole or from time to time in part by delivery to the
Company of a written stock option exercise agreement or notice, in a form and in
accordance with procedures established by the Plan Administrator, setting forth
the number of shares with respect to which the Option is being exercised, the
restrictions imposed on the shares purchased under such exercise agreement, if
any, and such representations and agreements as may be required by the Plan
Administrator, accompanied by payment in full as described in Article 7.5. An
Option may be exercised only for whole shares and may not be exercised for less
than a reasonable number of shares at any one time, as determined by the Plan
Administrator. 

7.5 Payment of Exercise Price 

The exercise price for shares purchased under an Option shall
be paid in full to the Company by the delivery of consideration equal to the
product of the Option exercise price and the number of shares purchased. Such
consideration must be paid before the Company will issue the shares being
purchased and must be delivered in the form of a check or bank draft or other
method of payment or some combination thereof as may be acceptable to the Plan
Administrator for that purchase.

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7.6 Post-Termination Exercises 

The Plan Administrator shall establish and set forth, in each
instrument that evidences an Option, whether the Option shall continue to be
exercisable, and the terms and conditions of such exercise, if the Participant
ceases to be employed by, or to provide services to, the Company or a Related
Company, which provisions may be waived or modified by the Plan Administrator at
any time. If not so established in the instrument evidencing the Option, the
Option shall be exercisable according to the following terms and conditions,
which may be waived or modified by the Plan Administrator at any time: 

	(a) 	 Except as otherwise set forth in this Article
        7.6, any portion of an Option that is not vested and exercisable on the
        Employment Termination Date shall expire on such date.

	 	 	 
	(b) 	 Any portion of an Option that is vested and
        exercisable on the Employment Termination Date shall expire on the earliest
        to occur of:

	 	 	 
		(i) 	 if the Participant's Employment Termination Date occurs
        by reason of retirement, resignation or for any other reasons other than
        for Cause, Disability or death, the day which is ninety (90) days after
        such Employment Termination Date;

	 	 	 
		(ii) 	 if the Participant's Employment Termination Date occurs
        by reason of Disability or death, the day which is six (6) months after
        such Employment Termination Date; and

	 	 	 
		(iii) 	 the last day of the Option Term (the "Option Expiration
        Date").

	 	 	 
		 Notwithstanding the foregoing, if the Participant
        dies after his or her Employment Termination Date, but while an Option
        is otherwise exercisable, the portion of the Option that is vested and
        exercisable on such Employment Termination Date shall expire upon the
        earlier to occur of: (A) the Option Expiration Date, and (B) the day which
        is six (6) months after the date of death, unless the Plan Administrator
        determines otherwise.

	 	 	 
		 Also notwithstanding the foregoing, in case
        of termination of the Participant's employment or service relationship
        for Cause, all Options granted to that Participant shall automatically
        expire upon first notification to the Participant of such termination,
        unless the Plan Administrator determines otherwise. If a Participant's
        employment or service relationship with the Company is suspended pending
        an investigation of whether the Participant shall be terminated for Cause,
        all the Participant's rights under any Option shall likewise be suspended
        during the period of investigation. If any facts that would constitute
        termination for Cause are discovered after the Participant's relationship
        with the Company or a Related Company has ended, any Option then held
        by the Participant may be immediately terminated by the Plan Administrator,
        in its sole discretion.

	 	 	 
	(c) 	 Unless the Plan Administrator determines otherwise,
        a termination of the Participant’s status as an employee, officer,
        director or Consultant of the Company or any Related Company (the “Original
        Position”), other than a termination for Cause, death or Disability,
        the Participant shall not be deemed to have ceased to be employed by or
        to have ceased providing services to the Company or any Related Company,
        provided that the Participant acts as an employee, officer, director or
        Consultant of the Company or a Related Company eligible to receive an
        Award under the provisions of Article 5, in another capacity, immediately
        upon the termination of the Original Position.

	 	 	 
	(d) 	 The effect of a Company-approved leave of
        absence on the application of this Article 7 shall be determined by the
        Plan Administrator, in its sole discretion.

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	(e) 	
      If a Participant's employment or service relationship
      with the Company or a Related Company terminates by reason of Disability
      or death, the Option shall become fully vested and exercisable for all the
      shares subject to the Option. Such Option shall remain exercisable for the
      time period set forth in this Article 7.6.

ARTICLE 8. 
INCENTIVE STOCK OPTION LIMITATIONS

Notwithstanding any other provisions of the Plan, and to the
extent required by Section 422 of the Code, Incentive Stock Options shall be
subject to the following additional terms and conditions: 

8.1 Dollar Limitation 

To the extent the aggregate Fair Market Value (determined as of
the Grant Date) of Common Stock with respect to which Incentive Stock Options
are exercisable for the first time during any calendar year (under the Plan and
all other stock option plans of the Company) exceeds $100,000, such portion in
excess of $100,000 shall be treated as a Non-Qualified Stock Option. In the
event the Participant holds two or more such Options that become exercisable for
the first time in the same calendar year, such limitation shall be applied on
the basis of the order in which such Options are granted. 

8.2 Eligible Employees 

Individuals who are not employees of the Company or one of its
parent corporations or subsidiary corporations may not be granted Incentive
Stock Options. 

8.3 Exercise Price 

The exercise price of an Incentive Stock Option shall be at
least 100% of the Fair Market Value of the Common Stock on the Grant Date, and
in the case of an Incentive Stock Option granted to a Participant who owns more
than 10% of the total combined voting power of all classes of the stock of the
Company or of its parent or subsidiary corporations (a "Ten Percent
Stockholder"), shall not be less than 110% of the Fair Market Value of the
Common Stock on the Grant Date. The determination of more than 10% ownership
shall be made in accordance with Section 422 of the Code. 

8.4 Exercisability 

An Option designated as an Incentive Stock Option shall cease
to qualify for favorable tax treatment as an Incentive Stock Option to the
extent it is exercised (if permitted by the terms of the Option) (a) more than
three months after the Employment Termination Date if termination was for
reasons other than death or disability, (b) more than one year after the
Employment Termination Date if termination was by reason of disability, or (c)
after the Participant has been on leave of absence for more than 90 days, unless
the Participant's reemployment rights are guaranteed by statute or contract.

8.5 Taxation of Incentive Stock Options 

In order to obtain certain tax benefits afforded to Incentive
Stock Options under Section 422 of the Code, the Participant must hold the
shares acquired upon the exercise of an Incentive Stock Option for two years
after the Grant Date and one year after the date of exercise. A Participant may
be subject to the alternative minimum tax at the time of exercise of an
Incentive Stock Option. The Participant shall give the Company prompt notice of
any disposition of shares acquired on the exercise of an Incentive Stock Option
prior to the expiration of such holding periods. 

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8.6 Code Definitions 

For the purposes of this Article 8, "parent corporation",
"subsidiary corporation" and "disability" shall have the meanings attributed to
those terms for purposes of Section 422 of the Code. 

ARTICLE 9. 
WITHHOLDING 

9.1 General 

The Company may require the Participant to pay to the Company
the amount of any taxes that the Company is required by applicable federal,
state, local or foreign law to withhold with respect to the grant, vesting or
exercise of an Award. The Company shall not be required to issue any shares
Common Stock under the Plan until such obligations are satisfied. 

9.2 Payment of Withholding Obligations in Cash or Shares

The Plan Administrator may permit or require a Participant to
satisfy all or part of his or her tax withholding obligations by: (a) paying
cash to the Company, (b) having the Company withhold from any cash amounts
otherwise due or to become due from the Company to the Participant, (c) having
the Company withhold a portion of any shares of Common Stock that would
otherwise be issued to the Participant having a value equal to the tax
withholding obligations (up to the employer's minimum required tax withholding
rate), or (d) surrendering any shares of Common Stock that the Participant
previously acquired having a value equal to the tax withholding obligations (up
to the employer's minimum required tax withholding rate to the extent the
Participant has held the surrendered shares for less than six months). 

ARTICLE 10. 
ASSIGNABILITY 

10.1 Assignment

Neither an Award nor any interest therein may be assigned,
pledged or transferred by the Participant or made subject to attachment or
similar proceedings other than by will or by the applicable laws of descent and
distribution, and, during the Participant's lifetime, such Awards may be
exercised only by the Participant. Notwithstanding the foregoing, and to the
extent permitted by Section 422 of the Code, the Plan Administrator, in its sole
discretion, may permit a Participant to assign or transfer an Award or may
permit a Participant to designate a beneficiary who may exercise the Award or
receive payment under the Award after the Participant's death; provided,
however, that any Award so assigned or transferred shall be subject to all the
terms and conditions of the Plan and those contained in the instrument
evidencing the Award. 

ARTICLE 11. 
ADJUSTMENTS 

11.1 Adjustment of Shares 

In the event, at any time or from time to time, a stock
dividend, stock split, spin-off, combination or exchange of shares,
recapitalization, merger, consolidation, distribution to stockholders other than
a normal cash dividend, or other change in the Company's corporate or capital
structure, including, without limitation, a Related Party Transaction, results
in: (a) the outstanding shares of Common Stock, or any securities exchanged
therefor or received in their place, being exchanged for a different number

8

or kind of securities of the Company or of any other
corporation, or (b) new, different or additional securities of the Company or of
any other corporation being received by the holders of shares of Common Stock of
the Company, then the Plan Administrator shall make proportional adjustments in:
(i) the maximum number and kind of securities subject to the Plan and issuable
as Incentive Stock Options as set forth in Article 4 and the maximum number and
kind of securities that may be made subject to Awards to any individual as set
forth in Article 4.3, and (ii) the number and kind of securities that are
subject to any outstanding Award and the per share price of such securities,
without any change in the aggregate price to be paid therefor. The determination
by the Plan Administrator as to the terms of any of the foregoing adjustments
shall be conclusive and binding. Notwithstanding the foregoing, a dissolution or
liquidation of the Company or a Corporate Transaction shall not be governed by
this Article 11.1 but shall be governed by Articles 11.2 and 11.3, respectively.

11.2 Dissolution or Liquidation 

To the extent not previously exercised or settled, and unless
otherwise determined by the Plan Administrator in its sole discretion, Options
denominated in units shall terminate immediately prior to the dissolution or
liquidation of the Company. To the extent a forfeiture provision or repurchase
right applicable to an Award has not been waived by the Plan Administrator, the
Award shall be forfeited immediately prior to the consummation of the
dissolution or liquidation. 

11.3 Corporate Transaction 

Options 

	(a) 	
      In the event of a Corporate Transaction, except as
      otherwise provided in the instrument evidencing an Option (or in a written
      employment or services agreement between a Participant and the Company or
      Related Company) and except as provided in subsection (b) below, each
      outstanding Option shall be assumed or an equivalent option or right
      substituted by the surviving corporation, the successor corporation or its
      parent corporation, as applicable (the "Successor Corporation").

	 	 
	(b) 	
      If, in connection with a Corporate Transaction, the
      Successor Corporation refuses to assume or substitute for an Option, then
      each such outstanding Option shall become fully vested and exercisable
      with respect to 100% of the unvested portion of the Option. In such case,
      the Plan Administrator shall notify the Participant in writing or
      electronically that the unvested portion of the Option specified above
      shall be fully vested and exercisable for a specified time period. At the
      expiration of the time period, the Option shall terminate, provided that
      the Corporate Transaction has occurred.

	 	 
	(c) 	
      For the purposes of this Article 11.3, the Option shall
      be considered assumed or substituted for if following the Corporate
      Transaction the option or right confers the right to purchase or receive,
      for each share of Common Stock subject to the Option immediately prior to
      the Corporate Transaction, the consideration (whether stock, cash, or
      other securities or property) received in the Corporate Transaction by
      holders of Common Stock for each share held on the effective date of the
      transaction (and if holders were offered a choice of consideration, the
      type of consideration chosen by the holders of a majority of the
      outstanding shares); provided, however, that if such consideration
      received in the Corporate Transaction is not solely common stock of the
      Successor Corporation, the Plan Administrator may, with the consent of the
      Successor Corporation, provide for the consideration to be received upon
      the exercise of the Option, for each share of Common Stock subject
      thereto, to be solely common stock of the Successor Corporation
      substantially equal in fair market value to the per share consideration
      received by holders of Common Stock in the Corporate Transaction. The
      determination of such substantial equality of value of consideration shall
      be made by the Plan Administrator and its determination shall be
      conclusive and binding.

9

	(d) 	
      All Options shall terminate and cease to remain
      outstanding immediately following the Corporate Transaction, except to the
      extent assumed by the Successor Corporation.

11.4 Further Adjustment of Awards 

Subject to Articles 11.2 and 11.3, the Plan Administrator shall
have the discretion, exercisable at any time before a sale, merger,
consolidation, reorganization, liquidation or change of control of the Company,
as defined by the Plan Administrator, to take such further action as it
determines to be necessary or advisable, and fair and equitable to the
Participants, with respect to Awards. Such authorized action may include (but
shall not be limited to) establishing, amending or waiving the type, terms,
conditions or duration of, or restrictions on, Awards so as to provide for
earlier, later, extended or additional time for exercise, lifting restrictions
and other modifications, and the Plan Administrator may take such actions with
respect to all Participants, to certain categories of Participants or only to
individual Participants. The Plan Administrator may take such action before or
after granting Awards to which the action relates and before or after any public
announcement with respect to such sale, merger, consolidation, reorganization,
liquidation or change of control that is the reason for such action. 

11.5 Limitations 

The grant of Awards shall in no way affect the Company's right
to adjust, reclassify, reorganize or otherwise change its capital or business
structure or to merge, consolidate, dissolve, liquidate or sell or transfer all
or any part of its business or assets. 

11.6 Fractional Shares 

In the event of any adjustment in the number of shares covered
by any Award, each such Award shall cover only the number of full shares
resulting from such adjustment. 

ARTICLE 12. 
AMENDMENT AND TERMINATION 

12.1 Amendment or Termination of Plan 

The Board may suspend, amend or terminate the Plan or any
portion of the Plan at any time and in such respects as it shall deem advisable;
provided, however, that to the extent required for compliance with Section 422
of the Code or any applicable law or regulation, stockholder approval shall be
required for any amendment that would: (a) increase the total number of shares
available for issuance under the Plan, (b) modify the class of employees
eligible to receive Options, or (c) otherwise require stockholder approval under
any applicable law or regulation. Any amendment made to the Plan that would
constitute a "modification" to Incentive Stock Options outstanding on the date
of such amendment shall not, without the consent of the Participant, be
applicable to such outstanding Incentive Stock Options but shall have
prospective effect only. 

12.2 Term of Plan 

Unless sooner terminated as provided herein, the Plan shall
terminate ten years after the earlier of the Plan's adoption by the Board and
approval by the stockholders. 

12.3 Consent of Participant 

The suspension, amendment or termination of the Plan or a
portion thereof or the amendment of an outstanding Award shall not, without the
Participant's consent, materially adversely affect any rights under any Award
theretofore granted to the Participant under the Plan. Any change or adjustment
to an 

10

outstanding Incentive Stock Option shall not, without the
consent of the Participant, be made in a manner so as to constitute a
"modification" that would cause such Incentive Stock Option to fail to continue
to qualify as an Incentive Stock Option. Notwithstanding the foregoing, any
adjustments made pursuant to Article 11 shall not be subject to these
restrictions. 

ARTICLE 13. 
GENERAL 

13.1 Evidence of Awards 

Awards granted under the Plan shall be evidenced by a written
instrument that shall contain such terms, conditions, limitations and
restrictions as the Plan Administrator shall deem advisable and that are not
inconsistent with the Plan. 

13.2 No Individual Rights 

Nothing in the Plan or any Award granted under the Plan shall
be deemed to constitute an employment contract or confer or be deemed to confer
on any Participant any right to continue in the employ of, or to continue any
other relationship with, the Company or any Related Company or limit in any way
the right of the Company or any Related Company to terminate a Participant's
employment or other relationship at any time, with or without Cause. 

13.3 Issuance of Shares 

Notwithstanding any other provision of the Plan, the Company
shall have no obligation to issue or deliver any shares of Common Stock under
the Plan or make any other distribution of benefits under the Plan unless, in
the opinion of the Company's counsel, such issuance, delivery or distribution
would comply with all applicable laws (including, without limitation, the
requirements of the Securities Act), and the applicable requirements of any
securities exchange or similar entity. 

The Company shall be under no obligation to any Participant to
register for offering or resale or to qualify for exemption under the Securities
Act, or to register or qualify under state securities laws, any shares of Common
Stock, security or interest in a security paid or issued under, or created by,
the Plan, or to continue in effect any such registrations or qualifications if
made. The Company may issue certificates for shares with such legends and
subject to such restrictions on transfer and stop-transfer instructions as
counsel for the Company deems necessary or desirable for compliance by the
Company with federal and state securities laws. 

To the extent the Plan or any instrument evidencing an Award
provides for issuance of stock certificates to reflect the issuance of shares of
Common Stock, the issuance may be effected on a noncertificated basis, to the
extent not prohibited by applicable law or the applicable rules of any stock
exchange. 

13.4 No Rights as a Stockholder 

No Option denominated in units shall entitle the Participant to
any cash dividend, voting or other right of a stockholder unless and until the
date of issuance under the Plan of the shares that are the subject of such
Award. 

13.5 Compliance With Laws and Regulations 

Notwithstanding anything in the Plan to the contrary, the Plan
Administrator, in its sole discretion, may bifurcate the Plan so as to restrict,
limit or condition the use of any provision of the Plan to Participants who are
officers or directors subject to Section 16 of the Exchange Act without so
restricting, limiting or

 11

conditioning the Plan with respect to other Participants.
Additionally, in interpreting and applying the provisions of the Plan, any
Option granted as an Incentive Stock Option pursuant to the Plan shall, to the
extent permitted by law, be construed as an "incentive stock option" within the
meaning of Section 422 of the Code. 

13.6 Participants in Other Countries 

The Plan Administrator shall have the authority to adopt such
modifications, procedures and subplans as may be necessary or desirable to
comply with provisions of the laws of other countries in which the Company or
any Related Company may operate to assure the viability of the benefits from
Awards granted to Participants employed in such countries and to meet the
objectives of the Plan. 

13.7 No Trust or Fund 

The Plan is intended to constitute an "unfunded" plan. Nothing
contained herein shall require the Company to segregate any monies or other
property, or shares of Common Stock, or to create any trusts, or to make any
special deposits for any immediate or deferred amounts payable to any
Participant, and no Participant shall have any rights that are greater than
those of a general unsecured creditor of the Company. 

13.8 Severability 

If any provision of the Plan or any Award is determined to be
invalid, illegal or unenforceable in any jurisdiction, or as to any person, or
would disqualify the Plan or any Award under any law deemed applicable by the
Plan Administrator, such provision shall be construed or deemed amended to
conform to applicable laws, or, if it cannot be so construed or deemed amended
without, in the Plan Administrator's determination, materially altering the
intent of the Plan or the Award, such provision shall be stricken as to such
jurisdiction, person or Award, and the remainder of the Plan and any such Award
shall remain in full force and effect. 

13.9 Choice of Law 

The Plan and all determinations made and actions taken pursuant
hereto, to the extent not otherwise governed by the laws of the United States,
shall be governed by the laws of the State of Nevada without giving effect to
principles of conflicts of law. 

ARTICLE 14. 
EFFECTIVE DATE 

14.1 Effective Date of Plan

The effective date is the date on which the Plan is adopted by
the Board. If the stockholders of the Company do not approve the Plan within
twelve (12) months after the Board's adoption of the Plan, any Incentive Stock
Options granted under the Plan will be treated as Non-Qualified Stock Options.

12Filed by Automated Filing Services Inc. (604) 609-0244 - Nord Resources Corporation - Exhibit 4.14

NORD RESOURCES CORPORATION

AMENDED AND RESTATED 
WARRANT
CERTIFICATE

	No. 2005-W2 	250,000 Warrants 

THE WARRANTS REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED, NOR REGISTERED NOR QUALIFIED UNDER ANY
STATE SECURITIES LAWS. SUCH WARRANTS MAY NOT BE OFFERED FOR SALE, SOLD,
DELIVERED AFTER SALE, TRANSFERRED, PLEDGED, OR HYPOTHECATED UNLESS QUALIFIED AND
REGISTERED UNDER APPLICABLE STATE AND FEDERAL SECURITIES LAWS OR UNLESS, IN THE
OPINION OF COUNSEL SATISFACTORY TO NORD RESOURCES CORPORATION SUCH QUALIFICATION
AND REGISTRATION IS NOT REQUIRED PURSUANT TO AN EXEMPTION THEREFROM. NO TRANSFER
OF ANY SUCH WARRANT SHALL BE VALID OR EFFECTIVE UNTIL SUCH CONDITIONS HAVE BEEN
FULFILLED.

WARRANTS FOR THE 
PURCHASE OF COMMON STOCK

Issue Date: October 17, 2005

THIS CERTIFIES THAT, FOR VALUE RECEIVED, Auramet Trading, LLC,
a Delaware limited liability company (the “Holder”), is the owner of
250,000 Warrants to purchase an equal number of validly-issued, fully-paid and
non-assessable shares of Common Stock (the “Warrant Shares”) of NORD RESOURCES
CORPORATION, a corporation organized and existing under the laws of the State of
Delaware (the “Corporation”). 

The Warrants represented by this Warrant Certificate are fully
vested as of the date hereof. Purchase may be made at any time, and from time to
time, prior to 5:00 p.m. Central Time on the Expiration Date (as hereinafter
defined), upon the presentation and surrender of this Warrant Certificate with a
written notice signed by the Holder stating the number of shares of Common Stock
with respect to which such exercise is being made, at the principal corporate
address of the Corporation, accompanied by payment of the Purchase Price, in
lawful money of the United States of America in cash or by official bank or
certified check made payable to NORD RESOURCES CORPORATION. The Purchase Price
and the number of shares of Common Stock subject to purchase upon the exercise
of the Warrants are subject to modification or adjustment as set forth
herein.

	SECTION 1. 	
      DEFINITIONS. As used herein, the
      following terms shall have the following meanings, unless the context
      shall otherwise require: 

1

	 	(a) 	
      “Adjusted Purchase Price” shall have the meaning
      given to it in Section 5 of this Certificate.

	 	 	 
	 	(b) 	
      “Change of Shares” shall have the meaning given to
      it in Section 5 of this Certificate.

	 	 	 
	 	(c) 	
      “Common Stock” shall mean the common stock of the
      Corporation, which has the right to participate in the distribution of
      earnings and assets of the Corporation without limit as to amount or
      percentage.

	 	 	 
	 	(d) 	
      “Corporate Office” shall mean the office of the
      Corporation at which, at any particular time, its principal business shall
      be administered, which office is currently located at 1 West Wetmore Road,
      Suite 203, Tucson, Arizona, 85705.

	 	 	 
	 	(e) 	
      “Exercise Date” shall mean, as to any Warrant, the
      date on which the Corporation shall have received both (a) this Warrant
      Certificate, together with a written notice of exercise in accordance
      herewith, duly executed by the Holder hereof, or his attorney duly
      authorized in writing, and indicating that the Holder is thereby
      exercising such Warrant(s), and (b) payment by wire transfer, or by
      official bank or certified check made payable to the Corporation, of an
      amount in lawful money of the United States of America equal to the
      applicable Purchase Price for such Warrant(s).

	 	 	 
	 	(f) 	
      “Exercise Price” shall mean, as to any Warrant,
      the sum of $0.56.

	 	 	 
	 	(g) 	
      “Expiration Date” shall mean 5:00 P.M. (Pacific
      Time) on October 17, 2007.

	 	 	 
	 		
      If the Expiration Date falls on a holiday or a day on
      which banks are authorized to be closed in the State of Arizona, then the
      Expiration Date shall mean 5:00 P.M. (Pacific Time) of the next
      consecutive day which does not fall on a holiday or a day on which banks
      are authorized to be closed in the State of Arizona.

	 	 	 
	 	(h) 	
      “Holder” shall have the meaning given to it in the
      face page hereof.

	 	 	 
	 	(i) 	
      “Purchase Price” shall mean the purchase price to
      be paid upon exercise of each Warrant hereunder in accordance with the
      terms hereof, which price shall be the Exercise Price, subject to
      adjustment from time to time pursuant to the provisions of Section 5
      hereof.

2

	 	(j) 	
      “Securities Act” shall mean the Securities Act
      of 1933, and any amendments or modifications, or successor
      legislation, thereto adopted, and all regulations, rules or other laws
      enacted or adopted pursuant thereto.

	 	 	 
	 	(k) 	
      “Warrant Certificate” shall mean any certificate
      representing Warrants.

	 	 	 
	 	(l) 	
      “Warrant Registry” means the official record
      maintained by the Corporation in which are recorded, with respect to each
      Warrant Certificate issued by the Corporation: the date of issuance, the
      name and address of the original Holder, the name and address of each
      subsequent transferee of such original Holder, and the number identifying,
      such Warrant Certificate.

	 	 	 
	 	(m) 	
      “Warrant Shares” shall have the meaning given to
      it in the face page hereof.

	 	 	 
	 	(n) 	
      “Warrants” shall mean the Warrants represented by
      this Warrant Certificate.

	SECTION 2. 	EXERCISE OF WARRANTS.
  

	 	(a) 	
      Each Warrant evidenced hereby may be exercised by the
      Holder at any time on the Exercise Date, upon the terms and subject to the
      conditions set forth herein, by delivery to the Corporation of a completed
      Notice of Exercise in the form attached as Schedule A hereto. A Warrant
      shall be deemed to have been exercised immediately prior to the close of
      business on the Exercise Date and the person entitled to receive shares of
      restricted common stock of the Corporation deliverable upon such exercise
      shall be treated for all purposes as the Holder of a Warrant Share upon
      the exercise of the applicable Warrant as of the close of business on the
      Exercise Date. Promptly following, and in any event within ten (10)
      business days after, the date on which the Corporation first receives
      clearance of all funds received in payment of the Purchase Price pursuant
      to this Warrant Certificate, the Corporation shall cause to be issued and
      delivered to the person or persons entitled to receive the same, a
      certificate or certificates evidencing the issuance to such Holder of the
      applicable number of Warrant Shares (plus a Warrant Certificate for any
      remaining issued but unexercised Warrants of the Holder). Notwithstanding
      the foregoing sentence, in the event that any registration or
      qualification (or filing for exemption from any such requirements) is
      required prior to the issuance of such Warrant Shares by the Corporation
      in accordance with Section 3(b) below, then the

3

	 		
      obligation to deliver any such certificates shall arise
      only upon completion of such requirements and at such time as the
      Corporation may lawfully do so.

	 	 	 
	 	(b) 	
      Upon the exercise of the Warrants represented hereby, if
      the Corporation so requests, the Holder shall certify to the Corporation
      that it is not exercising such Warrants with a view to distribute the
      Warrant Shares in violation of the Securities Act, and shall provide such
      other investor representations as the Corporation may require to confirm
      the ability of the Corporation to rely upon the exemption from
      registration under the Securities Act which applies to the distribution of
      Warrant Shares at the time of such
distribution.

	SECTION 3. 	RESERVATION OF SHARES; REGISTRATION
      RIGHTS; TAXES; ETC. 

	 	(a) 	 The Corporation covenants that it will at all times
        reserve and keep available out of its authorized Common Stock, solely
        for the purpose of issue upon the valid exercise of Warrants, such number
        of Warrant Shares as shall then be issuable upon the exercise of all Warrants
        then outstanding. The Corporation covenants that all shares of Common
        Stock which shall be issuable upon exercise of the Warrants shall, at
        the time of delivery, be duly and validly issued, fully-paid, non-assessable
        and free from all taxes, liens and charges with respect to the issuance
        thereof (other than those which the Corporation shall promptly pay or
        discharge, or any liens created thereon by the Holder thereof and/or any
        predecessor of such Holder).

	 	 	 
	 	(b) 	 The Corporation shall not be obligated to deliver any
        Warrant Shares pursuant to the exercise of the Warrants represented hereby
        unless and until a registration statement under the Securities Act and/or
        under any applicable state securities laws and regulations, with respect
        to such securities is effective, or an exemption from such registration
        is available to the Corporation at the time of such exercise. The Corporation
        covenants that if any Warrant Shares reserved for the purpose of exercise
        of Warrants hereunder require registration with, or approval of, any governmental
        authority under any federal or state securities law before such securities
        may be validly issued or delivered upon such exercise, then the Corporation
        will in good faith and as expeditiously as reasonably possible, endeavor
        to secure such registration or approval. However, in the event that this
        Warrant Certificate represents Warrants which have been transferred by
        an initial holder thereof, the Warrants represented hereby may not be
        exercised by, nor

4

	 		
      shares of Common Stock issued to, the Holder hereof in
      any state in which such exercise and issuance would be unlawful.

	 	 	 
	 	(c) 	
      If at any time from the date hereof until the earliest to
      occur of (A) the date as of which all the Warrant Shares may be sold by
      the Holder without regard to the volume limitations set forth in Rule
      144(e) under the Securities Act, and (B) such date as of which all the
      Warrant Shares held by the Holder have been sold, and there is not an
      effective registration statement covering all of the Warrant Shares, the
      Corporation shall determine to prepare and file with the United States
      Securities and Exchange Commission a registration statement relating to an
      offering for its own account or the account of others under the Securities
      Act, of any of its equity securities (other than on Form S-4 or Form S-8
      under the Securities Act, or their then equivalents, relating to equity
      securities to be issued solely in connection with any acquisition of any
      entity or business, or equity securities issuable in connection with stock
      incentive or other employee benefit plans), then the Corporation shall
      send to the Holder written notice of such determination and, if within
      fifteen days after receipt of such notice, the Holder shall so request in
      writing, the Corporation shall include in such registration statement all
      or any part of the Warrant Shares the Holder requests to be registered;
      provided that: (i) the Corporation shall not be required to register any
      Warrant Shares pursuant to this Section that are eligible for resale
      pursuant to Rule 144(k) promulgated under the Securities Act; and (ii) the
      Corporation shall not be required to register any Warrant Shares until
      after the Holder has exercised the Warrant.

	 	 	 
	 	(d) 	
      The Corporation shall pay all documentary, stamp or
      similar taxes and other governmental charges that may be imposed with
      respect to the issuance of the Warrants, or the issuance or delivery of
      any shares of Common Stock upon exercise of the Warrants; provided,
      however, that if the shares of Common Stock are to be delivered in a name
      other than the name of the Holder hereof, then no such delivery shall be
      made unless the person requesting the same has paid to the Corporation the
      amount of transfer taxes or charges incident thereto, if
  any.

	SECTION 4. 	
      LOSS OR MUTILATION. Upon receipt by
      the Corporation of evidence satisfactory to it of the ownership of, and
      loss, theft, destruction or mutilation of, this Warrant Certificate and
      (in case of loss, theft or destruction) of indemnity satisfactory to the
      Corporation, and (in the case of mutilation) upon surrender and
      cancellation thereof, the Corporation shall execute and deliver to the
      Holder in lieu thereof a new Warrant Certificate of like tenor
      representing an equal aggregate number of 

5

Warrants as was indicated to be
outstanding on the prior lost or mutilated Warrant Certificate (provided,
however, that to the extent that any discrepancy may exist between the number of
Warrants purported to be outstanding in respect of any Holder as evidenced by a
Warrant Certificate that has been lost or mutilated and the number attributable
to such Holder in the Warrant Registry, then the Warrant Registry shall control
for all purposes, absent a showing of manifest error. Each Holder requesting a
substitute Warrant Certificate due to loss, theft or destruction shall, prior to
receiving such substitute certificate, provide an affidavit to the Corporation
in the form prescribed thereby and signed by (and notarized on behalf of) such
Holder. Applicants for a substitute Warrant Certificate shall comply with such
other reasonable regulations and pay such other reasonable charges as the
Corporation may prescribe.

	SECTION 5. 	ADJUSTMENT OF PURCHASE PRICE
      AND NUMBER OF WARRANT
      SHARES OR WARRANTS. 

	 	(a) 	
      Subject to the provisions of this Warrant Certificate and
      applicable law, in the event the Corporation shall, at any time or from
      time to time after the date hereof, issue any shares of Common Stock as a
      stock dividend to the holders of Common Stock, or subdivide or combine the
      outstanding shares of Common Stock into a greater or lesser number of
      shares (any such sale, issuance, subdivision or combination being herein
      called a “Change of Shares”), then, and thereafter upon each
      further Change of Shares, the Purchase Price in effect immediately prior
      to such Change of Shares shall be reduced, but in no event increased, to a
      price (the “Adjusted Purchase Price”) determined by multiplying the
      Purchase Price in effect immediately prior to such Change of Shares by a
      fraction, the numerator of which shall be the sum of the number of shares
      of Common Stock outstanding immediately prior to the issuance of such
      additional shares plus the number of shares of Common Stock which the
      aggregate consideration received by the Corporation would purchase at such
      Purchase Price, and the denominator of which shall be the sum of the
      number of shares of Common Stock outstanding immediately after the
      issuance of such additional shares. Such adjustment to the Purchase Price
      shall be made successively whenever an issuance is made after a Change of
      Shares has occurred.

	 	 	 
	 		
      Upon each adjustment of the Purchase Price pursuant to
      this Section 5(a), the total number of shares of Common Stock purchasable
      upon the exercise of each Warrant shall become (subject to the provisions
      contained in Section 5(b) hereof) such number of shares (calculated to the
      nearest tenth) purchasable at the Purchase Price in effect immediately
      prior to such adjustment

6

	 		 multiplied by a fraction, the numerator of which shall
        be the Purchase Price in effect immediately prior to such adjustment and
        the denominator of which shall be the applicable Adjusted Purchase Price
        (rounded to the nearest whole number of shares). No fractional shares
        shall be issued or called for as a result of any adjustment made hereunder.

	 	 	 
	 	(b) 	 The Corporation may elect, at its sole discretion, upon
        any adjustment of the Purchase Price hereunder, to adjust the number of
        Warrants outstanding, in lieu of adjustment of the number of Warrant Shares
        purchasable upon the exercise of each Warrant as hereinabove provided,
        so that each Warrant outstanding after such adjustment shall represent
        the right to purchase one Warrant Share. Each Warrant held of record prior
        to such adjustment of the number of Warrants shall become that number
        of Warrants (calculated to the nearest tenth) determined by multiplying
        the number one by a fraction, the numerator of which shall be the Purchase
        Price in effect immediately prior to such adjustment and the denominator
        of which shall be the Adjusted Purchase Price. Upon each adjustment of
        the number of Warrants pursuant to this Section 5(b), the Corporation
        shall, as promptly as practicable, cause to be distributed to each Holder
        of Warrant Certificates, on the date of such adjustment, Warrant Certificates
        evidencing the adjusted number of Warrants to which such Holder shall
        be entitled as a result of such adjustment or, at the sole option of the
        Corporation, cause to be distributed to such Holder in substitution and
        replacement for the Warrant Certificates held by him prior to the date
        of adjustment, and upon surrender thereof, (if required by the Corporation)
        new Warrant Certificates evidencing the aggregate number of Warrants to
        which such Holder shall be entitled after such adjustment.

	 	 	 
	 	(c) 	 In case of any reclassification, capital reorganization
        or other change of outstanding shares of Common Stock, or in case of any
        consolidation or merger of the Corporation with or into another corporation
        (other than a consolidation or merger in which the Corporation is the
        continuing corporation and which does not result in any reclassification,
        capital reorganization or other change of outstanding shares of Common
        Stock), or in case of any sale or conveyance to another corporation of
        all, or substantially all, of the property of the Corporation (other than
        a sale/leaseback, mortgage or other financing transaction), the Corporation
        shall cause effective provision to be made so that each holder of a Warrant
        then outstanding shall have the right thereafter, by exercising such Warrant,
        to purchase the kind and number of shares of stock or other securities
        or property (including cash) receivable upon such

7

	 		
      reclassification, capital reorganization or other change,
      consolidation, merger, sale or conveyance by a holder of the number of
      Warrant Shares that might have been purchased upon exercise of such
      Warrant immediately prior to such reclassification, capital reorganization
      or other change, consolidation, merger, sale or conveyance. Any such
      provision shall include provision for adjustments that shall be as nearly
      equivalent as may be practicable to the adjustments provided for in this
      Section 5 upon a Change of Shares. The Corporation shall not effect any
      such consolidation, merger or sale without the written consent of Holders
      of a majority of the Warrants then outstanding, unless prior to or
      simultaneously with the consummation thereof the successor (if other than
      the Corporation) resulting from such consolidation or merger or the
      corporation purchasing assets or other appropriate corporation or entity
      shall assume, by written instrument executed and delivered to the
      Corporation, the obligation to deliver to the holder of each Warrant such
      substitute warrants, shares of stock, securities or assets as, in
      accordance with the foregoing provisions, such Holders may be entitled to
      purchase, and the other obligations of the Corporation set out in this
      Certificate. The foregoing provisions shall similarly apply to successive
      reclassifications, capital reorganizations and other changes of
      outstanding shares of Common Stock and to successive consolidations,
      mergers, sales or conveyances.

	 	 	 
	 	(d) 	
      Irrespective of any adjustments or changes in the
      Purchase Price or the number of Warrant Shares purchasable upon exercise
      of the Warrants, all Warrant Certificates issued (whether prior to or
      subsequent to any event causing an adjustment thereof) shall continue to
      express the Purchase Price per share, and the number of shares purchasable
      thereunder as originally expressed in the Warrant Certificate initially
      issued to any Holder.

	 	 	 
	 	(e) 	
      After each adjustment of the Purchase Price pursuant to
      this Section 5, the Corporation will promptly prepare a certificate signed
      by the Chairman or Chief Executive Officer, and attested by the Secretary
      or an Assistant Secretary, of the Corporation setting forth: (i) the
      Purchase Price as so adjusted, (ii) the number of shares of Common Stock
      purchasable upon exercise of each Warrant after such adjustment or, if the
      Corporation shall have elected to adjust the number of Warrants, the
      number of Warrants to which the Holder of each Warrant shall then be
      entitled, and (iii) a brief statement of the facts accounting for such
      adjustment. The Corporation will promptly cause a brief summary thereof to
      be sent by ordinary first class mail to each Holder of Warrants at his or
      her last address as it shall appear on the registry books of
  the

8

	 		
      Corporation. No failure to mail such notice nor any
      defect therein nor in the mailing thereof shall affect the validity
      thereof. The affidavit of the Secretary or an Assistant Secretary of the
      Corporation that such notice has been mailed shall, in the absence of
      fraud, be prima facie evidence of the facts stated therein.

	 	 	 
	 	(f) 	
      As used in this Section 5, references to “Common Stock”
      shall mean and include all of the Corporation’s Common Stock authorized on
      the date hereof and shall also include any capital stock of any class of
      the Corporation thereafter authorized which shall not be limited to a
      fixed sum or percentage in respect of the rights of the holders thereof to
      participate in dividends and in the distribution of assets upon the
      voluntary liquidation, dissolution or winding up of the Corporation;
      provided, however, that “Warrant Shares” shall include only shares of such
      class designated in the Corporation’s Certificate of Incorporation as
      Common Stock on the date hereof or (i) in the case of any
      reclassification, change, consolidation, merger, sale or conveyance of the
      character referred to in Section 5(c) hereof, the stock, securities or
      property provided for in such section, or (ii) in the case of any
      reclassification or change in the outstanding shares of Common Stock
      issuable upon exercise of the Warrants as a result of a subdivision or
      combination or consisting of a change in par value, or from par value to
      no par value, or from no par value to par value, such shares of Common
      Stock as so reclassified or changed.

	 	 	 
	 	(g) 	
      Any determination as to whether an adjustment in the
      Purchase Price in effect hereunder is required pursuant to this Section 5,
      or as to the amount of any such adjustment, if required, shall be binding
      upon all holders of Warrants and the Corporation if made in good faith by
      the Board of Directors of the Corporation. For purposes of this Section
      5(g), the Corporation’s Board of Directors shall be deemed to have acted
      in good faith if it makes any such decision in reliance upon advice of its
      legal counsel and/or another independent professional hired to advise the
      Board on such matters.

	SECTION 6. 	RESTRICTIVE LEGEND.
  

	 	(a) 	
      Neither the Warrants represented by this Warrant
      Certificate nor the Warrant Shares to be issued upon exercise of the
      Warrants have been registered under the Securities Act or any state
      securities laws. Accordingly, neither the Warrants nor the Warrant Shares
      may be offered, sold or otherwise transferred in the United States or to
      or for the account or benefit of a U.S. Person or a person in the United
      States, unless registered under the U.S. Securities
Act

9

and applicable state securities laws,
or an exemption from registration is available. Except as otherwise provided in
this Section 6, each certificate evidencing the issuance of Warrant Shares
(whether issued in the name of the original Holder of this Certificate or of any
subsequent transferee thereof), shall be stamped or otherwise imprinted with a
legend in substantially the following form:

“THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN
  REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, NOR REGISTERED NOR
  QUALIFIED UNDER ANY STATE SECURITIES LAWS. SUCH SHARES MAY NOT BE OFFERED FOR
  SALE, SOLD, DELIVERED AFTER SALE, TRANSFERRED, PLEDGED, OR HYPOTHECATED UNLESS
  QUALIFIED AND REGISTERED UNDER APPLICABLE STATE AND FEDERAL SECURITIES LAWS
  OR UNLESS, IN THE OPINION OF COUNSEL SATISFACTORY TO NORD RESOURCES CORPORATION,
  SUCH QUALIFICATION AND REGISTRATION IS NOT REQUIRED. NO TRANSFER OF ANY SUCH
  SHARE SHALL BE VALID OR EFFECTIVE UNTIL SUCH CONDITIONS HAVE BEEN FULFILLED.”

          (b)
Except as otherwise provided in this Section 6, each Warrant Certificate shall
be stamped or otherwise imprinted with a legend in substantially the following
form:

“THE WARRANTS REPRESENTED HEREBY HAVE NOT BEEN REGISTERED
  UNDER THE SECURITIES ACT OF 1933, AS AMENDED, NOR REGISTERED NOR QUALIFIED UNDER
  ANY STATE SECURITIES LAWS. SUCH WARRANTS MAY NOT BE OFFERED FOR SALE, SOLD,
  DELIVERED AFTER SALE, TRANSFERRED, PLEDGED, OR HYPOTHECATED UNLESS QUALIFIED
  AND REGISTERED UNDER APPLICABLE STATE AND FEDERAL SECURITIES LAWS OR UNLESS,
  IN THE WRITTEN OPINION OF COUNSEL SATISFACTORY TO NORD RESOURCES CORPORATION,
  SUCH QUALIFICATION AND REGISTRATION IS 

10

NOT REQUIRED. NO TRANSFER OF ANY SUCH WARRANT SHALL BE VALID
  OR EFFECTIVE UNTIL SUCH CONDITIONS HAVE BEEN FULFILLED.”

	 	(c) 	 The legend requirements of Sections 6(a) and 6(b) above
        shall terminate as to any particular Warrant or Warrant Share: (i) when
        and so long as such security shall have been effectively registered under
        the Securities Act and is disposed of pursuant thereto; or (ii) when the
        Company shall have received an opinion of counsel reasonably satisfactory
        to it that such shares may be sold to the public without registration
        thereof under the Securities Act. Whenever the legend requirements imposed
        by this Section 6 shall terminate as to any Warrant Share, as hereinabove
        provided, the Holder hereof shall be entitled to receive from the Corporation,
        at the Corporation’s expense, a new certificate representing such
        Warrant Shares and not bearing the restrictive legend set forth in Section
        6(a).

	SECTION 7. 	
      RIGHTS OF ACTION. All rights of
      action with respect to the Warrants are vested in the Holders of the
      Warrants, and any Holder of a Warrant, without consent of the holder of
      any other Warrant, may, in such Holder’s own behalf and for his own
      benefit, enforce against the Company his right to exercise his Warrants
      for the purchase of Warrant Shares in the manner provided in this Warrant
      Certificate. 

	  	
       

	SECTION 8. 	
      AGREEMENT OF WARRANT HOLDERS. Every
      holder of a Warrant, by his or her acceptance thereof, consents and agrees
      with the Corporation and every other holder of a Warrant that:
  

	 	(a) 	
      The Warrant Registry shall be maintained by the
      Corporation’s Secretary, and shall be the official register of all
      Warrants issued to any person in the Offering. The Warrant Registry shall
      be dispositive as to the issuance, ownership, transfer and other aspects
      of each Warrant issued by the Corporation which are recorded therein and,
      absent manifest error, such records shall control for all
  purposes.

	 	 	 
	 	(b) 	
      The Warrants are transferable only on the Warrant
      Registry by the Holder thereof in person or by his attorney duly
      authorized in writing and only if the Warrant Certificates representing
      such Warrants are surrendered at the Corporate Office of the Corporation,
      duly endorsed or accompanied by a proper instrument of transfer
      satisfactory to the Corporation in its sole discretion, together with
      payment of the amount of any applicable transfer taxes;
  and

11

	 	(c) 	
      The Corporation may deem and treat the person in whose
      name the Warrant Certificate is registered on the Warrant Registry as the
      holder and as the absolute, true and lawful owner of the Warrants
      represented thereby for all purposes, and the Corporation shall not be
      affected by any notice or knowledge to the contrary, except as otherwise
      expressly provided in this Certificate.

	SECTION 9. 	
      MODIFICATION OF WARRANTS. Other than
      with respect to any adjustment made by the Corporation in accordance with
      the provisions of Section 5 hereof, this Certificate may only be modified,
      supplemented or altered by the Corporation, and only with the consent in
      writing of the Holders of Warrants representing greater than fifty percent
      (50%) of the total Warrants then outstanding; provided, that no change in
      the number or nature of the securities purchasable upon the exercise of
      any Warrant, or the acceleration of the Exercise Date, shall be made
      without the consent in writing of the Holder of the Warrant Certificate
      representing such Warrant, other than such changes as are specifically
      prescribed by this Certificate as originally executed or are made in
      compliance with applicable law. 

	  	
       

	SECTION 10. 	
      NOTICES. All notices, requests,
      consents and other communications hereunder shall be in writing and shall
      be deemed to have been made when delivered or mailed first class
      registered or certified mail, postage prepaid as follows: if to the Holder
      of a Warrant Certificate, at the address of such Holder as shown on the
      Warrant Registry maintained by the Corporation; and if to the Corporation,
      at 1 West Wetmore Road, Suite 203, Tucson, Arizona, 85705, or such other
      place as may be designated by the Corporation from time to time in
      accordance with this Section 10. 

	  	
       

	SECTION 11. 	
      GOVERNING LAW. This Certificate
      shall be governed by and construed in accordance with the laws of the
      State of New York, without giving effect to the law of conflicts of laws
      applied thereby. In the event that any dispute shall occur between the
      parties arising out of or resulting from the construction, interpretation,
      enforcement or any other aspect of this Certificate, the parties hereby
      agree to accept the exclusive jurisdiction of the Courts of the State of
      New York. In the event either party shall be forced to bring any legal
      action to protect or defend its rights hereunder, then the prevailing
      party in such proceeding shall be entitled to reimbursement from the
      non-prevailing party of all fees, costs and other expenses (including,
      without limitation, the reasonable expenses of its attorneys) in bringing
      or defending against such action. 

12

	SECTION 12. 	
      ENTIRE UNDERSTANDING. This
      Certificate contains the entire understanding among the Corporation and
      the Holder relating to the subject matter covered herein, and merges all
      prior discussions, negotiations and agreements, if any between them.
      Neither of the parties to this agreement shall be bound by any
      representations, warranties, covenants, or other understandings relating
      to such subject matter, other than as expressly provided for or referred
      to herein. 

          IN
WITNESS WHEREOF, the Corporation has caused this Warrant Certificate to be duly
executed, manually or in facsimile, by two of its officers thereunto duly
authorized, as of the date set forth below.

		NORD RESOURCES CORPORATION 	 		ATTEST: 
	  	  	 	  	  
	  	  	 	  	  
	  	  	 	  	  
	By: 	/s/
      Erland Anderson 	 	By: 	/s/
      John Perry 
	  	Erland Anderson 	 	  	John Perry 
	  	Executive Vice President and 	 	  	Senior Vice President and 
	  	Chief Operating Officer 	 	  	Chief Financial Officer

	Date: 	Amended and Restated as of April 17, 2006 but
      with an effective date of October 17, 2005 

13

SCHEDULE A

NOTICE OF EXERCISE

TO:     Nord Resources Corporation

(1)       The undersigned hereby
  elects to purchase __________ Warrant Shares of the Corporation pursuant to
  the terms of the Warrant Certificate, and tenders herewith payment of the exercise
  price in full, together with all applicable transfer taxes, if any.

(2)       Please issue a Warrant
Certificate registered in the name and address of the undersigned as specified
below:

_________________________________________________________________

_________________________________________________________________

_________________________________________________________________

(3)       The Warrant Shares
shall be delivered to the following:

_________________________________________________________________

_________________________________________________________________

_________________________________________________________________

(4)       The undersigned hereby
represents and warrants to the Corporation that the undersigned:

	 	(a) 	
      is an “accredited investor” as defined in Rule 501 under
      the Securities Act of 1933, as amended (the “Securities Act”);

	 	 	 
	 	(b) 	
      is purchasing the Warrant Shares solely for its own
      account for investment and not with a view to or for sale or distribution
      of the Warrant Shares or any portion thereof and without any present
      intention of selling, offering to sell or otherwise disposing of or
      distributing the Warrant Shares or any portion thereof in any transaction
      other than a transaction complying with the registration requirements of
      the Securities Act; and

	 	 	 
	 	(c) 	
      is not exercising the Warrants as a result of any form of
      “general solicitation” or “general advertising” as used in Rule 502(c) of
      Regulation D.

(5)       The undersigned hereby
acknowledges that:

	 	(a) 	
      the Warrant Shares issuable upon exercise of the Warrants
      are “restricted securities” as defined in Rule 144 of the Securities
      Act;

	 	 	 
	 	(b) 	
      the Corporation shall refuse to register any transfer of
      the Warrant Shares not made in accordance with the provisions of
      Regulation S, pursuant to registration under the Securities Act, or
      pursuant to an available exemption from registration under the Securities
      Act; and

1

	 	(c) 	
      the Corporation may require the Holder to provide such
      information as may be reasonably necessary to permit the Corporation to
      verify the accuracy of the representations and warranties of the
      information contained herein, and may require the Holder to complete a
      Certification of U.S. Purchaser in form and substance reasonably
      satisfactory to the Corporation and its legal
counsel.

 

	By: 	  	 
	 	[HOLDER] 	 

2

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