Document:

exh4-155.htm

    EXHIBIT 4.155 

    
      

        
           

          
            
              This is
page  of 1 of 20 pages of a subscription agreement and related
appendixes, schedules and forms. Collectively, these pages together are referred
to as the “Subscription Agreement”.

              

              

              

              

            

          

        

        AMADOR
GOLD CORP.

         

        FLOW-THROUGH
SUBSCRIPTION AGREEMENT

         

        INSTRUCTIONS
TO PURCHASER

         

         

        
          	
                   
      

                	
                  1.

                	
                  All
      purchasers complete all the information in the boxes on page 2 and sign
      where indicated with an “X”.

                

        

         

        
          	
                   
      

                	
                  2.

                	
                  If
      you are an “accredited investor” in British Columbia or Ontario, then
      complete the “Accredited Investor Questionnaire” that starts on page 5.
      The purpose of the questionnaire is to determine whether you meet the
      standards for participation in a private placement under section 2.3 of
      National Instrument 45-106.

                

        

         

        
          	
                   
      

                	
                  3.

                	
                  If
      you are not an individual (that is, the Purchaser is a corporation,
      partnership, trust or entity other than an individual or if you are a
      portfolio manager), then complete and sign the “Corporate Placee
      Registration Form” (Form 4C) that starts on
    page 8.

                

        

        
          
             

          

          
             

            
              

            

          

          
             

            
              Subscription
Agreement (with related appendixes, schedules and forms)            Page of 2 of 20

              

              

              

            

          

        

        PRIVATE
PLACEMENT

        FLOW-THROUGH
SUBSCRIPTION AGREEMENT

         

        
          	
                  TO:

                	
                  AMADOR
      GOLD CORP. (the “Issuer”), of Suite 711 – 675 West Hastings Street,
      Vancouver, B.C., V6B 1N2   Tel: (604) 685-2222;
      Fax:  (604) 685-3764

                

        

         

        Subject
and pursuant to the terms set out in the Terms on pages 3 to 4, the General
Provisions on pages 10 to 20 and the other schedules and appendixes incorporated
by reference, the Purchaser hereby irrevocably subscribes for, and on Closing
will purchase from the Issuer, the following securities at the following
price:

         

        SUBSCRIPTION
AND SUBSCRIBER INFORMATION

         

         

        Please
print all information (other than signatures), as applicable, in the space
provided below

        

          
            	 
      	 
      	
                     

                    Number of Flow-Through
      Units:               x $0.08

                  
	
                    (Name
      of Subscriber)

                  	 
      	 
      
	 
      	 
      	
                    =

                  
	
                    Account
      Reference (if applicable):

                  	 
      	 
      
	
                     

                     

                    By:                                                                           

                  	 
      	
                    Aggregate
      Subscription Price:                             

                    (the “Subscription
      Price”)

                  
	
                    Authorized
      Signature

                  	 
      	 
      
	
                    By
      signing, the Purchaser agrees to disclosure of all information contained
      

                    herein
      to the Exchange and the collection, use and disclosure of the information
      

                    contained
      herein for the purposes described in Appendix 6B of the Exchange
      

                    Rules
      or as otherwise identified by the Exchange from time to
    time.

                  	 
      	
                    Social
      Insurance Number

                     

                     

                  
	
                     

                    ________________________________________________________

                    (Official
      Capacity or Title – if the Subscriber is not an individual)

                    ________________________________________________________

                    (Name
      of individual whose signature appears above if different than the name
      

                    of
      the subscriber printed above.)

                    ________________________________________________________

                    (Subscriber’s
      Address, including Municipality and Province)

                    ________________________________________________________

                     

                    ________________________________________________________

                    (Telephone
      Number)          (Email
      Address)

                  	 
      	
                    If
      the Subscriber is signing as agent for a principal (beneficial purchaser)
      and is not purchasing as trustee or agent for accounts fully managed by
      it, complete the following:

                     

                    ________________________________________________

                    (Name
      of Principal)

                     

                    ________________________________________________

                    (Principal’s
      Address)

                     

                    Number
      and kind of securities of the Corporation held, directly or indirectly, if
      any:

                    ________________________________________________

                     

                  
	 
      	 
      	 
      
	
                    
    	 
      	
                    
    
	 
      	 
      	 
      
	
                    The
      Company hereby accepts the subscription for Flow-Through Units as set
      

                    forth
      herein (including all applicable schedules) this ___ day of ______,
      2008

                     

                    AMADOR GOLD CORP.

                     

                    Per:                        

                    Authorized Signing
      Officer

                     

                  	 
      	
                       
      1.  State whether Subscriber is an insider of the
      Corporation:

                     

                      
      Yes    o                 

             No  o

                     

                    2.  State
      whether Subscriber is a member of the Pro Group:

                     

                    Yes     o                      
      No  o

                  

          

        
           

         

        By
signing this acceptance, the Issuer agrees to be bound by the Terms on
pages 3 to 4, the General Provisions on pages 10 to 20 and the other
schedules and appendixes incorporated by reference.

        

         

        
          
             

          

          
             

            
              

            

          

          
             

            
              Subscription
Agreement (with related appendixes, schedules and forms)               Page of 3 of
20

            

          

        

        TERMS

         

        
          	
                  Reference
      date of this Agreement

                	
                  December 8,
      2008  (the “Agreement
Date”)

                

        

         

        The
Offering

         

        
          	
                  The
      Issuer

                	
                  AMADOR
      GOLD CORP.

                   

                
	The
      Offering	
                  The
      offering consists of flow-through units (the “Units”) at a price of $0.08
      per Unit.

                   

                
	
                  Purchased
      Securities

                	
                  
                    

                      The
      “Purchased Securities” herein are Units. Each Unit consists of one
      previously unissued flow-through common share, as presently constituted (a
      “Share”) and one non flow-through share purchase warrant (a “Warrant”) of
      the Issuer. Each Warrant will entitle the holder, on exercise, to purchase
      one additional common share of the Issuer (a “Warrant Share”) for a period
      of two years from the date of issue of the warrant at a price of CAD$0.10
      per Warrant Share

                    

                  

                
	
                  Price

                	
                  CAD
      $0.08 per Unit

                   

                
	
                  Warrants

                	
                  The
      Warrants will be issued and registered in the name of the purchasers or
      their nominees.

                   

                  The
      Warrants will be non-transferable.

                   

                  The
      certificates representing the Warrants will, among other things, include
      provisions for the appropriate adjustment in the class, number and price
      of the Warrant Shares issued upon exercise of the Warrants upon the
      occurrence of certain events, including any subdivision, consolidation or
      reclassification of the Issuer’s common shares, the payment of stock
      dividends and the amalgamation of the Issuer.

                   

                  The
      issue of the Warrants will not restrict or prevent the Issuer from
      obtaining any other financing, or from issuing additional securities or
      rights, during the period within which the Warrants may be
      exercised.

                   

                  Once
      resale restrictions on the shares having expired and upon the Company’s
      shares trading at or above a weighted average trading price of $0.25 for
      30 consecutive trading days the Company may give notice that the Warrants
      will expire 60 days from the date of providing such notice in writing to
      Warrant holders and via a news release.

                
	
                  Selling
      Jurisdictions

                	
                  The
      Units may be sold in Canada and in certain “offshore” jurisdictions
      outside Canada and the United States (the “Selling Jurisdictions”) in
      accordance with the provisions of this Subscription
Agreement.

                   

                
	
                  Exemptions

                	
                  The
      Offering will be made in accordance with the “Accredited Investor”
      exemption from the prospectus requirements (section 2.3 of National
      Instrument 45-106) or the “Family, Friends and Business Associates”
      exemption from the prospectus requirements (section 2.5 of National
      Instrument 45-106).

                   

                

        

         

         

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        
          
            Subscription
Agreement (with related appendixes, schedules and forms)               Page of 4 of
20

          

 

        
          	
                  Resale
      Restrictions and Legends   

                  (All
      Purchasers)

                	
                  The
      Securities will be subject to a four month hold period that starts to run
      on Closing.

                   

                  The
      Purchaser acknowledges that the certificates representing the Securities
      will bear the following legends:

                   

                  “UNLESS
      PERMITTED UNDER SECURITIES LEGISLATION, THE HOLDER OF THE SECURITIES SHALL
      NOT TRADE THE SECURITIES BEFORE  [date that is four months and a
      day after the Closing.].”

                   

                  “Without
      prior written approval of the TSX Venture Exchange and compliance with all
      applicable securities legislation, the securities presented by this
      certificate may not be sold, transferred, hypothecated or otherwise traded
      on or through the facilities of the TSX Venture Exchange or otherwise in
      Canada or to or for the benefit of a Canadian resident until [insert the
      date following the fourth month after the distribution].”

                   

                  Purchasers
      are advised to consult with their own legal counsel or advisors to
      determine the resale restrictions that may be applicable to
      them.

                   

                
	
                  Closing
      Date

                	
                  The
      closing of the Offering (the “Closing”) will take place in one or more
      Closings, at the discretion of the Issuer.  The Closing will
      take place within 5 days after approval by the TSX Venture Exchange,
      unless otherwise agreed between the Issuer and the Purchaser.

                   

                
	
                  Additional
      definitions

                	
                  In
      the Subscription Agreement, the following words have the following
      meanings unless otherwise indicated:

                   

                  (a)“Securities”
      means the Shares, the Warrants and the Warrant Shares;

                  (b)“Warrants”
      includes the certificates representing the Warrants.

                   

                

        

         

        The
Issuer

        
          	
                  Jurisdiction
      of organization

                	
                  The
      Issuer is incorporated under the laws of the British
Columbia.

                   

                
	
                  Authorized
      capital

                	
                  The
      authorized capital of the Issuer consists of an unlimited number of common
      shares without par value.

                   

                
	
                  Stock
      exchange listings

                	
                  Shares
      of the Issuer are listed on the TSX Venture Exchange
      (the “Exchange”).

                   

                
	
                  
“Securities
      Legislation Applicable to the Issuer”

                	
                  The
      “Securities Legislation Applicable to the Issuer” are the Securities Act
      (British Columbia) and the Securities Act
      (Alberta) and the 
“Commissions
      with Jurisdiction over the Issuer” are the British Columbia
      Securities Commission and the Alberta Securities
    Commission.

                

        

        

         

        END
OF TERMS

         

         

        

        
          
             

          

          
             

            
              

            

          

          
             

            
              Subscription
Agreement (with related appendixes, schedules and forms)             Page of 5 of
20

            

          

        

        
Accredited
Investor Questionnaire

         

         

        (Capitalized
terms not specifically defined in this Questionnaire have the meaning ascribed
to them in the Subscription Agreement to which this Schedule is
attached.)

         

        In
connection with the execution of the Subscription Agreement to which this
Schedule is attached, the undersigned (the “Purchaser”) represents and warrants
to the Issuer that:

         

        If
I am an individual (that is, a natural person and not a corporation,
partnership, trust or other entity), then I satisfy one or more of the
categories indicated below (please place an “X” on the appropriate
lines):

         

        
          	
                  ____
      Category 1

                	
                  an
      individual who, either alone or with a spouse, beneficially owns, directly
      or indirectly, financial assets having an aggregate realizable value that
      before taxes, but net of any related liabilities, exceeds $1,000,000,
      where “financial assets” means cash, securities, or a contract of
      insurance, a deposit or an evidence of a deposit that is not a security
      for the purposes of securities legislation and “related liabilities” means
      (i) liabilities incurred or assumed for the purpose of financing the
      acquisition or ownership of financial assets, or (ii) liabilities that are
      secured by financial assets

                   

                
	
                  ____
      Category 2

                	
                  an
      individual whose net income before taxes exceeded $200,000 in each of the
      two most recent calendar years or whose net income before taxes combined
      with that of a spouse exceeded $300,000 in each of the two most recent
      calendar years and who, in either case, reasonably expects to exceed that
      net income level in the current calendar year

                   

                
	
                  ____
      Category 3

                	
                  A
      person registered under the securities legislation of a jurisdiction of
      Canada as an adviser or dealer, other than a person registered solely as a
      limited market dealer registered under one or both of the Securities Act
      (Ontario) or the Securities Act
      (Newfoundland and Labrador)

                   

                
	
                  ____
      Category 4

                	
                  an
      individual registered or formerly registered under the securities
      legislation of a jurisdiction of Canada as a representative of a person
      referred to in Category 3

                   

                
	
                  ____
      Category 5

                	
                  an
      individual who, either alone or with a spouse, has net assets of at least
      $5,000,000

                   

                
	
                  ____
      Category 6

                	
                  a
      person that is recognized or designated by the securities regulatory
      authority or, except in Ontario and Quebec, the regulator as (i) an
      accredited investor, or (ii) an exempt purchaser in Alberta and British
      Columbia

                   

                
	
                  ____
      Category 7

                	
                  a
      person acting on behalf of a fully managed account managed by that person,
      if that person (i) is registered or authorized to carry on business as an
      adviser or the equivalent under the securities legislation of a
      jurisdiction of Canada or a foreign jurisdiction, and (ii) in Ontario, is
      purchasing a security that is not a security of an investment
      fund

                

        

         

        

        
          
             

          

          
             

            
              

            

          

          
             

            
              Subscription
Agreement (with related appendixes, schedules and forms)           Page of 6 of 20

              

              

            

          

        

         

        If
the Purchaser is NOT an individual (that is, the Purchaser is a corporation,
partnership, trust or other entity other than an individual), then the Purchaser
satisfies one or more of the categories indicated below (please place an “X” on
the appropriate lines):

         

        Institutional
Investors

         

        
          	
                  ____
      Category 8

                	
                  A
      person in respect of which all of the owners of interests, direct,
      indirect or beneficial, except the voting securities required by law to be
      owned by directors, are persons that are accredited investors

                   

                
	
                  ____
      Category 9

                	
                  An
      association governed by the Cooperative Credit Association
      s Act (Canada) or a central cooperative credit society for which an
      order has been made under section 473(1) of that Act, or a bank, loan
      corporation, trust company, trust corporation, insurance company, treasury
      branch, credit union, caisse populaire, financial services cooperative, or
      league that, in each case, is authorized by an enactment of Canada or a
      jurisdiction of Canada to carry on business in Canada or a jurisdiction of
      Canada, or a bank named in Schedule I, II or III of the Bank Act
      (Canada)

                   

                
	
                  ____
      Category 10

                	
                  the
      Business Development Bank of Canada incorporated under the Business Development Bank of
      Canada Act (Canada)

                   

                
	
                  ____
      Category 11

                	
                  a
      subsidiary of any person referred to in Categories 9 or 10, if the person
      owns all of the voting securities of the subsidiary, except the voting
      securities required by law to be owned by directors of that
      subsidiary

                   

                
	
                  ____
      Category 12

                	
                  a
      pension fund that is regulated by either the Office of the Superintendent
      of Financial Institutions (Canada) or a pension commission or similar
      regulatory authority of a jurisdiction of Canada

                   

                
	
                  ____
      Category 13

                	
                  a
      trust company or trust corporation registered or authorized to carry on
      business under the Trust
      and Loan Companies Act (Canada) or under comparable legislation in
      a jurisdiction of Canada or a foreign jurisdiction, acting on behalf of a
      fully managed account managed by the trust company or trust corporation,
      as the case may be

                

        

         

        Government
Organizations

         

        
          	
                  ____
      Category 14

                	
                  the
      government of Canada or a jurisdiction of Canada, or any crown
      corporation,  agency or wholly owned entity of the Government of
      Canada or a jurisdiction of Canada

                   

                
	
                  ____
      Category 15

                	
                  a
      municipality, public board or commission in Canada and a metropolitan
      community, school board, the Comite de gestion de la taxe scolaire de
      l’ile de Montreal or an intermunicipal management board in
      Quebec

                   

                
	
                  ____
      Category 16

                	
                  any
      national, federal, state, provincial, territorial or municipal government
      of or in any foreign jurisdiction, or any agency of that
      government

                

        

         

        Other
Corporations, Partnerships, Trusts & Charities

         

        
          	
                  ____
      Category 17

                	
                  a
      registered charity under the Income Tax Act (Canada)
      that, in regard to the trade, has obtained advice from an eligibility
      adviser or an adviser registered under the securities legislation of the
      jurisdiction of the registered charity to give advice on the securities
      being traded

                   

                

           

           

          
            
              
                 

              

              
                 

                
                  

                

              

              
                 

                
                  Subscription
Agreement (with related appendixes, schedules and forms)           Page of 7 of 20

                  

                  

                

              

            

          

           

          	
                  ____
      Category 18

                	
                  a
      person, other than an individual or investment fund, that has net assets
      of at least $5,000,000 as shown on its most recently prepared financial
      statements

                   

                
	
                  ____
      Category 19

                	
                  an
      investment fund that distributes or has distributed its securities only
      to: (i) a person that is or was an accredited investor at the time of the
      distribution, (ii) a person that acquires or acquired securities in the
      circumstances referred to in sections 2.10 [minimum amount
      investment] and 2.19 [Additional investment in
      investment funds]of National Instrument 45-106, or (iii) a person
      described in paragraph (i) or (ii) that acquires or acquired securities
      under section 2.8 [Investment fund
      reinvestment] of National Instrument 45-106

                   

                
	
                  ____
      Category 20

                	
                  an
      investment fund that distributes or has distributed securities under a
      prospectus in a jurisdiction of Canada for which the regulator or, in
      Quebec, the securities regulatory authority, as issued a
      receipt

                   

                
	
                  ____
      Category 21

                	
                  an
      investment fund that is  advised by a person registered as an
      advisor or a person that is exempt from registration as an
      advisor

                   

                
	
                  ____
      Category 22

                	
                  any
      entity organized in a foreign jurisdiction that is analogous to any of the
      entities referred to in Category 3 and Categories 9 through 12 in form and
      function

                

        

         

        The
statements made in this Questionnaire are true and accurate to the best of my
information and belief and I will promptly notify the Issuer of any changes in
the answers.

         

        Dated
_______________ 2008.

        
          	 
      	
                  X _______________________________________                                                                   

                  Signature
      of individual (if Purchaser is an
      individual)

                  X _______________________________________                                                                   

                  Authorized
      signatory (if Purchaser is not an
      individual)

                  _________________________________________

                  Name
      of Purchaser (please
      print)

                  _________________________________________

                  Name
      of authorized signatory (please
      print)

                  _________________________________________

                  Official
      capacity of authorized signatory (please
      print)

                

        

        
          
             

          

          
             

            
              

            

          

          
             

            
              Subscription
Agreement (with related appendixes, schedules and forms)              Page of 8 of
20

            

          

        

        

         

        Form
4C

         

        
CORPORATE PLACEE REGISTRATION
FORM

         

        Where
subscribers to a Private Placement are not individuals, the following
information about the placee must be provided.  This Form will remain
on file with the Exchange.  The corporation, trust, portfolio manager
or other entity (the “Placee”) need only file it on one time basis, and it will
be referenced for all subsequent Private Placements in which it
participates.  If any of the information provided in this Form
changes, the Placee must notify the Exchange prior to participating in further
placements with Exchange listed companies.  If as a result of the
Private Placement, the Placee becomes an Insider of the Issuer, Insiders of the
Placee are reminded that they must file a Personal Information Form (2A) or, if
applicable, Declarations, with the Exchange.

         

        
          	
                  1.

                	
                  Placee
      Information:

                

        

         

        
          	
                   
      

                	
                  (a)

                	
                  Name:  ___________________________________________________________________

                	 

        

         

        
          	
                   
      

                	
                  (b)

                	
                  Complete
      Address:  
      _________________________________________________________

                	 

        

         

        _________________________________________________________________________                                                                                                                

         

        
          	
                   
      

                	
                  (c)

                	
                  Jurisdiction
      of Incorporation or Creation: 
      ________________________________________

                	 

        

         

        
          	
                  2.

                	
                  (a)

                	
                  Is
      the Placee purchasing securities as a portfolio manager (Yes/No)? 
      ____________________

                	 

        

         

        
          	
                   
      

                	
                  (b)

                	
                  Is
      the Placee carrying on business as a portfolio manager outside of Canada
      (Yes/No)?  _______

                

        

         

                                                                                                                             

         

        
          	
                  3.

                	
                  If
      the answer to 2(b) above was “Yes”, the undersigned certifies
      that:

                

        

         

        
          	
                   
      

                	
                  (a)

                	
                  It
      is purchasing securities of an Issuer on behalf of managed accounts for
      which it is making the investment decision to purchase the securities and
      has full discretion to purchase or sell securities for such accounts
      without requiring the client’s express consent to a
      transaction;

                

        

         

        
          	
                   
      

                	
                  (b)

                	
                  It
      carries on the business of managing the investment portfolios of clients
      through discretionary authority granted by those clients (a “portfolio
      manager” business) in ____________________ [jurisdiction], and it is
      permitted by law to carry on a portfolio manager business in that
      jurisdiction;

                

        

         

        
          	
                   
      

                	
                  (c)

                	
                  It
      was not created solely or primarily for the purpose of purchasing
      securities of the Issuer;

                

        

         

        
          	
                   
      

                	
                  (d)

                	
                  The
      total asset value of the investment portfolios it manages on behalf of
      clients is not less than $20,000,000;
and

                

        

         

        
          	
                   
      

                	
                  (e)

                	
                  It
      has no reasonable grounds to believe, that any of the directors, senior
      officers and other insiders of the Issuer, and the persons that carry on
      investor relations activities for the Issuer has a beneficial interest in
      any of the managed accounts for which it is
  purchasing.

                

        

         

        
          
             

          

          
             

            
              

            

          

          
             

            
              Subscription
Agreement (with related appendixes, schedules and forms)               Page of 9 of 20

              

              

            

          

        

        
          	
                  4.

                	
                  If
      the answer to 2(a). above was “No”, please provide the names and addresses
      of control persons of the Placee:

                

        

         

        
          	
                  Name

                	
                  City

                	
                  Province
      or State

                	
                  Country

                
	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      

        

         

        The
undersigned acknowledges that it is bound by the provisions of applicable
Securities Law, including provisions concerning the filing of insider reports
and reports of acquisitions (See for example, sections 87 and 111 of the Securities Act (British
Columbia) and sections 176 and 182 of the Securities Act
(Alberta).

         

        Acknowledgement
- Personal Information

         

        “Personal
Information” means any information about an identifiable individual, and
includes information contained in sections 1, 2 and 4, as applicable, of this
Form.

         

        The
undersigned hereby acknowledges and agrees that it has obtained the express
written consent of each individual to:

         

        
          	
                   
      

                	
                  (a)

                	
                  the
      disclosure of Personal Information by the undersigned to the Exchange (as
      defined in Appendix 6B) pursuant to this Form;
  and

                

        

         

        
          	
                   
      

                	
                  (b)

                	
                  the
      collection, use and disclosure of Personal Information by the Exchange for
      the purposes described in Appendix 6B or as otherwise identified by the
      Exchange, from time to time.

                

        

         

         

        Dated
at ____________ 
on ____________________________________________                                               .

         

         

        
          	 
	
                  (Name
      of Purchaser - please print)

                
	
                   

                   

                
	
                  (Authorized
      Signature)

                
	
                   

                   

                
	
                  (Official
      Capacity - please print)

                
	
                   

                   

                
	
                  (please
      print name of individual whose signature appears
  above)

                

        

         

        THIS
IS NOT A PUBLIC DOCUMENT

         

        
          
             

          

          
             

            
              

            

          

          
             

            
              Subscription
Agreement (with related appendixes, schedules and forms)            Page of 10 of
20

              

              

            

          

        

        GENERAL
PROVISIONS

         

        1.                      DEFINITIONS

         

        1.1                   
     In the Subscription Agreement (including the first
(cover) page, the Terms on pages 3 to 4, the General Provisions on pages 10
to 20 and the other schedules and appendixes incorporated by reference),
the following words have the following meanings unless otherwise
indicated:

         

        
          	
                   
      

                	
                  (a)

                	
                  “1933
      Act” means the United States Securities Act of 1933, as
      amended;

                

        

         

        
          	
                   
      

                	
                  (c)

                	
                  “Applicable
      Legislation” means the Securities Legislation Applicable to the Issuer (as
      defined on page 4) and all legislation incorporated in the definition
      of this term in other parts of the Subscription Agreement, together with
      the regulations and rules made and promulgated under that legislation and
      all administrative policy statements, blanket orders and rulings, notices
      and other administrative directions issued by the
    Commissions;

                

        

         

        
          	
                   
      

                	
                  (d)

                	
                  “Canadian
      Exploration Expense” means Canadian exploration expense as defined in
      section 66.1(6) of the Income Tax Act other
      than expenses that are prescribed Canadian exploration and development
      overhead expense for the purpose of subsection 66(12.6) of the Income Tax
      Act;

                

        

         

        
          	
                   
      

                	
                  (e)

                	
                  “Closing”
      means the completion of the sale and purchase of the Purchased
      Securities;

                

        

         

        
          	
                   
      

                	
                  (f)

                	
                  “Closing
      Date” has the meaning assigned in the
Terms;

                

        

         

        
          	
                   
      

                	
                  (g)

                	
                  “Commissions”
      means the Commissions with Jurisdiction over the Issuer (as defined on
      page 4) and the securities commissions incorporated in the definition of
      this term in other parts of the Subscription
  Agreement;

                

        

         

        
          	
                   
      

                	
                  (h)

                	
                  “Exchange”
      has the meaning assigned in the
Terms;

                

        

         

        
          	
                   
      

                	
                  (i)

                	
                  “Final
      Closing” means the last closing under the Private
    Placement;

                

        

         

        
          	
                   
      

                	
                  (j)

                	
                  “General
      Provisions” means those portions of the Subscription Agreement headed
      “General Provisions” and contained on pages 10 to
  20;

                

        

         

        
          	
                   
      

                	
                  (k)

                	
                  “Income Tax Act” means
      the Income Tax
      Act (Canada), as amended;

                

        

         

        
          	
                   
      

                	
                  (l)

                	
                  “Offering
      Memorandum” means any offering memorandum prepared by the Issuer in
      connection with the Private Placement, as it may be amended from time to
      time;

                

        

         

        
          	
                   
      

                	
                  (m)

                	
                  “Prescribed
      Form” means a form prescribed under the Income Tax Act for a
      particular purpose;

                

        

         

        
          	
                   
      

                	
                  (n)

                	
                  “Private
      Placement” means the offering of the Purchased Securities on the terms and
      conditions of this Subscription
Agreement;

                

        

         

        
          	
                   
      

                	
                  (o)

                	
                  “Purchased
      Securities” has the meaning assigned in the
  Terms;

                

        

         

        
          	
                   
      

                	
                  (p)

                	
                  “Qualified
      Expenditures” means Canadian Exploration Expense required to be incurred
      and renounced pursuant to this
Agreement;

                

        

         

        
          	
                   
      

                	
                  (q)

                	
                  “Qualified
      Shares” means shares that are not prescribed shares for the purposes of
      the definition of “flow-through share” in section 66(15) of the Income Tax
      Act;

                

        

         

        
          	
                   
      

                	
                  (r)

                	
                  “Regulation S”
      means Regulation S promulgated under the 1933
  Act;

                

        

        
          
             

          

          
             

            
              

            

          

          
             

            
              Subscription
Agreement (with related appendixes, schedules and forms)           Page of 11 of 20

              

              

            

          

        

         

        
          	
                   
      

                	
                  (s)

                	
                  “Regulatory
      Authorities” means the Commissions and the
  Exchange;

                

        

         

        
          	
                   
      

                	
                  (t)

                	
                  “Related
      Corporation” means a corporation that is related to the Issuer within the
      meaning of subsection 251(2), 251(3) or 251(3.1) of the Income Tax
      Act;

                

        

         

        
          	
                   
      

                	
                  (u)

                	
                  “Securities”
      has the meaning assigned in the
Terms;

                

        

         

        
          	
                   
      

                	
                  (v)

                	
                  “Securities”
      has the meaning assigned in the
Terms;

                

        

         

        
          	
                   
      

                	
                  (w)

                	
                  “Subscription
      Agreement” means the first (cover) page, the Terms on pages 3 to 4, the
      General Provisions on pages 10 to 20 and the other schedules and
      appendixes incorporated by reference;
and

                

        

         

        
          	
                   
      

                	
                  (x)

                	
                  “Terms”
      means those portions of the Subscription Agreement headed “Terms” and
      contained on pages 3 to 4.

                

        

         

        1.2                
       In the Subscription Agreement, the
following terms have the meanings defined in Rule 902 of Regulation S:
“Directed Selling Efforts”, “Foreign Issuer”, “Substantial U.S. Market
Interest”, “U.S. Person” and “United States”.

         

        1.3                    
   In the Subscription Agreement, unless otherwise specified,
currencies are indicated with the ISO 4217 currency code so that, as examples,
Canadian dollars are indicated with the prefix “CAD”, United States dollars are
indicated with the prefix “USD”, British pounds sterling are indicated with the
prefix “GBP” and the euro is indicated with the prefix “EUR”.

         

        1.4                       
 In the Subscription Agreement, other words and phrases that are
capitalized have the meaning assigned in the Subscription
Agreement.

         

        2.                      REPRESENTATIONS
AND WARRANTIES OF PURCHASER

         

        2.1                    Acknowledgements
concerning offering

         

        The
Purchaser acknowledges that:

         

        
          	
                   
      

                	
                  (a)

                	
                  no
      securities commission or similar regulatory authority has reviewed or
      passed on the merits of the
Securities;

                

        

         

        
          	
                   
      

                	
                  (b)

                	
                  there
      is no government or other insurance covering the
    Securities;

                

        

         

        
          	
                   
      

                	
                  (c)

                	
                  there
      are risks associated with the purchase of the
  Securities;

                

        

         

        
          	
                   
      

                	
                  (d)

                	
                  there
      are restrictions on the Purchaser’s ability to resell the Securities and
      it is the responsibility of the Purchaser to find out what those
      restrictions are and to comply with them before selling the
      Securities;

                

        

         

        
          	
                   
      

                	
                  (e)

                	
                  the
      Issuer has advised the Purchaser that the Issuer is relying on an
      exemption from the requirements to provide the Purchaser with a prospectus
      and to sell securities through a person registered to sell securities
      under the Applicable Legislation and, as a consequence of acquiring
      securities pursuant to this exemption, certain protections, rights and
      remedies provided by the Applicable Legislation, including statutory
      rights of rescission or damages, will not be available to the
      Purchaser;

                

        

        
          
             

          

          
             

            
              

            

          

          
             

            
              Subscription
Agreement (with related appendixes, schedules and forms)           Page of 12 of 20

              

              

            

          

        

         

        
          	
                   
      

                	
                  (f)

                	
                  no
      prospectus has been filed by the Issuer with the Commissions in connection
      with the issuance of the Purchased Securities, the issuance is exempted
      from the prospectus and registration requirements of the Applicable
      Legislation and:

                

        

         

        
          	
                   
      

                	
                  (i)

                	
                  the
      Purchaser is restricted from using most of the civil remedies available
      under the Applicable Legislation;

                

        

         

        
          	
                   
      

                	
                  (ii)

                	
                  the
      Purchaser may not receive information that would otherwise be required to
      be provided to the Purchaser under the Applicable Legislation;
      and

                

        

         

        
          	
                   
      

                	
                  (iii)

                	
                  the
      Issuer is relieved from certain obligations that would otherwise apply
      under the Applicable Legislation;

                

        

         

        
          	
                   
      

                	
                  (g)

                	
                  the
      Purchaser acknowledges that the Securities have not been registered under
      the 1933 Act and may not be offered or sold in the United States
      unless registered under the 1933 Act and the securities laws of all
      applicable states of the United States or an exemption from such
      registration requirements is available, and that the Issuer has no
      obligation or present intention of filing a registration statement under
      the 1933 Act in respect of the Purchased Securities or any of the
      Securities;

                

        

         

        
          	
                   
      

                	
                  (h)

                	
                  the
      Purchaser acknowledges that the Warrants have not been registered under
      the 1933 Act and may not be exercised by or on behalf of a person in the
      United States unless the Warrant and the underlying Warrant Shares have
      been registered under the 1933 Act and the securities laws of all
      applicable states of the United States or an exemption from such
      registration requirements is
available;

                

        

         

        
          	
                   
      

                	
                  (i)

                	
                  the
      Purchaser acknowledges that certificates representing the Warrants, as
      well as all certificates issued in exchange for or in substitution of the
      foregoing, until such time as is no longer required under the applicable
      requirements of the 1933 Act or applicable state securities laws, will
      bear, on the face of such certificate, the following
    legend:

                

        

         

        “THIS
WARRANT AND THE SECURITIES DELIVERABLE UPON EXERCISE HEREOF HAVE NOT BEEN
REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "U.S.
SECURITIES ACT"), OR THE SECURITIES LAWS OF ANY STATE OF THE UNITED
STATES.  THIS WARRANT MAY NOT BE EXERCISED BY OR ON BEHALF OF A PERSON
IN THE UNITED STATES UNLESS THE WARRANT AND THE UNDERLYING SECURITIES HAVE BEEN
REGISTERED UNDER THE U.S. SECURITIES ACT AND THE APPLICABLE SECURITIES
LEGISLATION OF ANY SUCH STATE OR AN EXEMPTION FROM SUCH REGISTRATION
REQUIREMENTS IS AVAILABLE.  "UNITED STATES" AND "U.S. PERSON" ARE AS
DEFINED BY REGULATION S UNDER THE U.S. SECURITIES ACT.”

         

        
          	
                   
      

                	
                  (j)

                	
                  the
      Purchaser acknowledges that the Warrants are
    non-transferable.

                

        

         

        2.2                   Representations
by all purchasers

         

        The
Purchaser represents and warrants to the Issuer that, as at the Agreement Date
and at the Closing:

         

        
          	
                   
      

                	
                  (a)

                	
                  the
      Purchaser has received a copy of the Offering Memorandum, if
      any;

                

        

         

        
          	
                   
      

                	
                  (b)

                	
                  to
      the best of the Purchaser’s knowledge, the Securities were not
      advertised;

                

        

         

        
          	
                   
      

                	
                  (c)

                	
                  no
      person has made to the Purchaser any written or oral
      representations:

                

        

        
          
             

          

          
             

            
              

            

          

          
             

            
              Subscription
Agreement (with related appendixes, schedules and forms)           Page of 13 of 20

              

              

            

          

        

         

        
          	
                   
      

                	
                  (i)

                	
                  that
      any person will resell or repurchase the
  Securities;

                

        

         

        
          	
                   
      

                	
                  (ii)

                	
                  that
      any person will refund the purchase price of the Purchased
      Securities;

                

        

         

        
          	
                   
      

                	
                  (iii)

                	
                  as
      to the future price or value of any of the Securities;
  or

                

        

         

        
          	
                   
      

                	
                  (iv)

                	
                  that
      any of the Securities will be listed and posted for trading on a stock
      exchange or that application has been made to list and post any of the
      Securities for trading on any stock exchange, other than the
      Exchange;

                

        

         

        
          	
                   
      

                	
                  (d)

                	
                  the
      Purchaser is either:

                

        

         

        
          	
                   
      

                	
                  (i)

                	
                  an
      accredited investor and has properly completed and delivered an Accredited
      Investor Questionnaire; or

                

        

         

        
          	
                   
      

                	
                  (ii)

                	
                  a
      person or company who is purchasing the Securities as principal and
      is:

                

        

         

        
          	
                   
      

                	
                  (A)

                	
                  a
      director, executive officer or control person of the Issuer, or an
      affiliate of the Issuer;

                

        

         

        
          	
                   
      

                	
                  (B)

                	
                  a
      spouse, parent, grandparent, brother, sister or child of a director,
      executive officer or control person of the Issuer, or of an affiliate of
      the Issuer;

                

        

         

        
          	
                   
      

                	
                  (C)

                	
                  a
      parent, grandparent, brother, sister or child of the spouse of a director,
      executive officer or control person of the Issuer, or of an affiliate of
      the Issuer;

                

        

         

        
          	
                   
      

                	
                  (D)

                	
                  a
      direct close personal friend of a director, executive officer or control
      person of the Issuer, or of an affiliate of the Issuer and has known such
      person well enough and for a sufficient period of time to be in a position
      to assess the capabilities and trustworthiness of that person and is not a
      close personal friend solely because the individual is a relative, a
      member of the same organization, association or religious group nor
      because the individual is a client, customer, former client or former
      customer;

                

        

         

        
          	
                   
      

                	
                  (E)

                	
                  a
      direct close business associate of a director, executive officer or
      control person of the Issuer, or of an affiliate of the Issuer and has had
      sufficient prior business dealings with such person to be in a position to
      assess the capabilities and trustworthiness of that person and is not a
      close business associate solely because the individual is a client,
      customer, former client or former
customer;

                

        

         

        
          	
                   
      

                	
                  (F)

                	
                  a
      founder of the Issuer or a spouse, parent, grandparent, brother, sister,
      child, close personal friend or close business associate of a founder of
      the Issuer provided the friend or business associate has had sufficient
      prior dealings or has knows such person well enough for a sufficient
      period of time to be in a position to assess the capabilities and
      trustworthiness of the founder and is not a close personal friend or
      business associate solely because the individual is a relative, a member
      of the same organization, association or religious group nor because the
      individual is a client, customer, former client or former
      customer;

                

        

         

        
          	
                   
      

                	
                  (G)

                	
                  a
      parent grandparent, brother, sister or child of a spouse of a founder of
      the Issuer;

                

        

         

        
          	
                   
      

                	
                  (H)

                	
                  a
      person of which a majority of the voting securities are beneficially owned
      by, or a majority of the directors are , persons described in paragraphs
      (i) to (vii), or

                

        

        
          
             

          

          
             

            
              

            

          

          
             

            
              Subscription
Agreement (with related appendixes, schedules and forms)           Page of 14 of 20

              

              

            

          

        

         

        
          	
                   
      

                	
                  (I)

                	
                  a
      trust or estate of which all of the beneficiaries or a majority of the
      trustees or executors are persons described in paragraphs (a) to
      (g);

                

        

         

        
          	
                   
      

                	
                  (e)

                	
                  this
      subscription has not been solicited in any other manner contrary to the
      Applicable Legislation or the
1933 Act;

                

        

         

        
          	
                   
      

                	
                  (f)

                	
                  the
      Purchaser is at arm’s length (as that term is customarily defined) with
      the Issuer;

                

        

         

        
          	
                   
      

                	
                  (g)

                	
                  the
      Purchaser (or others for whom it is contracting hereunder) has been
      advised to consult its own legal and tax advisors with respect to
      applicable resale restrictions and tax considerations, and it (or others
      for whom it is contracting hereunder) is solely responsible for compliance
      with applicable resale restrictions and applicable tax
      legislation;

                

        

         

        
          	
                   
      

                	
                  (h)

                	
                  the
      Purchaser has no knowledge of a “material fact” or “material change” (as
      those terms are defined in the Applicable Legislation) in the affairs of
      the Issuer that has not been generally disclosed to the public, except
      knowledge of this particular
transaction;

                

        

         

        
          	
                   
      

                	
                  (i)

                	
                  the
      offer made by this subscription is irrevocable (subject to the Purchaser’s
      right to withdraw the subscription and to terminate the obligations as set
      out in this Agreement) and requires acceptance by the Issuer and approval
      of the Exchange;

                

        

         

        
          	
                   
      

                	
                  (j)

                	
                  the
      Purchaser has the legal capacity and competence to enter into and execute
      this Agreement and to take all actions required pursuant to the
      Subscription Agreement and, if the Purchaser is a corporation, it is duly
      incorporated and validly subsisting under the laws of its jurisdiction of
      incorporation and all necessary approvals by its directors, shareholders
      and others have been given to authorize execution of this Agreement on
      behalf of the Purchaser;

                

        

         

        
          	
                   
      

                	
                  (k)

                	
                  the
      entering into of this Agreement and the transactions contemplated hereby
      will not result in the violation of any of the terms and provisions of any
      law applicable to, or the constating documents of, the Purchaser or of any
      agreement, written or oral, to which the Purchaser may be a party or by
      which the Purchaser is or may be
bound;

                

        

         

        
          	
                   
      

                	
                  (l)

                	
                  this
      Agreement has been duly executed and delivered by the Purchaser and
      constitutes a legal, valid and binding agreement of the Purchaser
      enforceable against the Purchaser;

                

        

         

        
          	
                   
      

                	
                  (m)

                	
                  the
      Purchaser has been independently advised as to the applicable hold period
      imposed in respect of the Securities by securities legislation in the
      jurisdiction in which the Purchaser resides and confirms that no
      representation has been made respecting the applicable hold periods for
      the Securities and is aware of the risks and other characteristics of the
      Securities and of the fact that the Purchaser may not be able to resell
      the Securities except in accordance with the applicable securities
      legislation and regulatory
policies;

                

        

         

        
          	
                   
      

                	
                  (n)

                	
                  the
      Purchaser is capable of assessing the proposed investment as a result of
      the Purchaser’s financial and business experience or as a result of advice
      received from a registered person other than the Issuer or any affiliates
      of the Issuer; and

                

        

         

        
          	
                   
      

                	
                  (o)

                	
                  if
      required by applicable securities legislation, policy or order or by any
      securities commission, stock exchange or other regulatory authority, the
      Purchaser will execute, deliver, file and otherwise assist the Issuer in
      filing, such reports, undertakings and other documents with respect to the
      issue of the Securities as may be
required.

                

        

        
          
             

          

          
             

            
              

            

          

          
             

            
              Subscription
Agreement (with related appendixes, schedules and forms)           Page of 15 of 20

              

              

            

          

        

         

        
          	
                  2.3

                	
                   Reliance,
      indemnity and notification of
changes

                

        

         

        The
representations and warranties in the Subscription Agreement (including the
first (cover) page, the Terms on pages 3 to 4, the General Provisions on pages
10 to 20 and the other schedules and appendixes incorporated by reference)
are made by the Purchaser with the intent that they be relied upon by the Issuer
in determining its suitability as a purchaser of Purchased Securities, and the
Purchaser hereby agrees to indemnify the Issuer against all losses, claims,
costs, expenses and damages or liabilities which any of them may suffer or incur
as a result of reliance thereon. The Purchaser undertakes to notify the Issuer
immediately of any change in any representation, warranty or other information
relating to the Purchaser set forth in the Subscription Agreement (including the
first (cover) page, the Terms on pages 3 to 4, the General Provisions on
pages 10 to 20 and the other schedules and appendixes incorporated by
reference) which takes place prior to the Closing.

         

        2.4                    Survival
of representations and warranties

         

        The
representations and warranties contained in this Section will survive the
Closing.

         

        3.                      REPRESENTATIONS
AND WARRANTIES OF THE ISSUER

         

        3.1                    Representations
and Warranties of the Issuer

         

        
          	
                   
      

                	
                  (a)

                	
                  the
      Issuer is a corporation duly incorporated and validly subsisting under the
      laws of British Columbia and has the corporate power and authority to
      enter into this Agreement and complete the transactions contemplated
      hereby and to own and lease its properties and assets and to conduct its
      business as currently conducted;

                

        

         

        
          	
                   
      

                	
                  (b)

                	
                  the
      Issuer shall do all acts and things necessary to reserve or set aside
      sufficient shares in the treasury of the Issuer to enable it to issue to
      the Purchaser the Shares and the Warrant
Shares;

                

        

         

        
          	
                   
      

                	
                  (c)

                	
                  the
      common shares of the Company are duly listed and posted for trading on the
      Exchange;

                

        

         

        
          	
                   
      

                	
                  (d)

                	
                  no
      order ceasing or suspending trading in securities of the Issuer nor
      prohibiting the sale of such securities has been issued to the Issuer or
      its directors, officers or promoters or against any other companies that
      have common directors, officers or promoters and no investigations or
      proceedings for such purposes are pending or threatened of which the
      Issuer is or ought to be aware;

                

        

         

        
          	
                   
      

                	
                  (e)

                	
                  the
      Issuer is a reporting issuer and an exchange issuer under the Securities Act (B.C.)
      and is not in material default of any of the requirements of the
      Securities Act
      (B.C.) or the Rules thereunder, or of any rule or requirement of
      the Exchange;

                

        

         

        
          	
                   
      

                	
                  (f)

                	
                  the
      execution, delivery and performance by the Issuer of this Agreement and
      the transactions herein
contemplated:

                

        

         

        
          	
                   
      

                	
                  (i)

                	
                  have
      or will have been prior to the Closing duly authorized by all necessary
      corporate action of the Issuer and by all necessary action of the
      shareholders thereof;

                

        

         

        
          	
                   
      

                	
                  (ii)

                	
                  do
      not contravene, conflict with or cause the Issuer to be in breach or
      default of its memorandum or articles, or articles or by-laws, as the case
      may be, or of any resolution of its respective directors or shareholders,
      any trust deeds, debenture, loan agreements or any of its other agreements
      or undertakings or any judgement, decree or order to or by which it is a
      party to or is bound;

                

        

         

        
          	
                   
      

                	
                  (g)

                	
                  at
      the Closing, upon payment of the purchase price, the Shares shall be duly
      issued and outstanding as fully paid and non-assessable, the Warrants
      shall be duly granted and
enforceable

                

        

        
          
             

          

          
             

            
              

            

          

          
             

            
              Subscription
Agreement (with related appendixes, schedules and forms)           Page of 16 of 20

              

              

              

            

          

        

         

        against
the Company, upon exercise of the Warrants and payment of the exercise price
therefore, the Warrant Shares shall be duly issued and outstanding as fully paid
and non-assessable; and

         

        
          	
                   
      

                	
                  (h)

                	
                  except
      as qualified by the disclosure in all prospectuses, filing statements and
      press releases filed with the Commissions or the Exchange or the Offering
      Memorandum, if any, (the “Disclosure Record”), the Company is the
      beneficial owner of the properties, business and assets or the interests
      in the properties, business or assets referred to in the Disclosure
      Record, and the properties are in good standing under the applicable laws
      of the jurisdictions in which they are
situated;

                

        

         

        
          	
                   
      

                	
                  (c)

                	
                  all
      expenditures renounced by the Issuer to the Purchaser pursuant to this
      Agreement will  be Canadian Exploration
  Expense;

                

        

         

        
          	
                   
      

                	
                  (d)

                	
                  the
      Shares will, at the time of issue, be Qualified Shares and flow-through
      shares, as defined in section 66.(15) of the Income Tax
      Act;

                

        

         

        
          	
                   
      

                	
                  (e)

                	
                  on
      the date provided as the effective date in each renunciation of Canadian
      Exploration Expense pursuant to this Agreement, the Issuer will have
      cumulative Canadian Exploration Expense, within the meaning of section
      66.1(6) of the Income
      Tax Act, in an amount sufficient to make the renunciation to the
      Purchaser valid;

                

        

         

        
          	
                   
      

                	
                  (f)

                	
                  in
      respect of each renunciation made by the Issuer pursuant to this
      Agreement, the Issuer will file all Prescribed Forms and other documents
      necessary to ensure valid and effective renunciation with the Minister of
      Finance on or before the last day of the month after the month in which
      the renunciation is made or, where the renunciation is made pursuant to
      subsection 66(12.66) of the Income Tax Act to be
      effective as at December 31 of a particular year, on or before
      March 31 of a subsequent year, and concurrently deliver to the
      Purchaser a copy of form T101 and copies 2 and 3 of form T101
      Supplementary and any other documents so
filed;

                

        

         

        
          	
                   
      

                	
                  (g)

                	
                  the
      Issuer will comply with the provisions of the Income Tax Act relating
      to the filing of this Agreement and any Offering Memorandum delivered to
      the Purchaser in connection
therewith;

                

        

         

        
          	
                   
      

                	
                  (h)

                	
                  the
      Issuer, and any Related Corporation which incurs Qualified Expenditures,
      is and will at all material times remain a “principal-business
      corporation” as that expression is defined in section 66(15) of the Income Tax
      Act;

                

        

         

        
          	
                   
      

                	
                  (i)

                	
                  if
      any Qualified Expenditures are to be incurred by a Related
      Corporation:

                

        

         

        
          	
                   
      

                	
                  (i)

                	
                  the
      consideration to be given to the Issuer by such Related Corporation will
      be shares of the Related Corporation that are flow-through shares and the
      renunciation of Canadian Exploration Expense to the Issuer in respect of
      such Qualified Expenditures; and

                

        

         

        
          	
                   
      

                	
                  (ii)

                	
                  the
      Related Corporation will, on or before the date upon which any
      renunciation of Canadian Exploration Expense is made by the Issuer
      pursuant to this Agreement in respect of the Qualified Expenditures so
      incurred by the Related Corporation, renounce to the Issuer pursuant to
      subsection 66(12.6) of the Income Tax Act in
      Prescribed Form, with effective date on or before the effective date of
      the renunciation so made by the Issuer, Canadian Exploration Expense in an
      amount not less than the amount so renounced by the Issuer not subject to
      any reduction under subsection 66(12.73) of the Income Tax Act;
      and

                

        

         

        
          	
                   
      

                	
                  (j)

                	
                  the
      Issuer will not, other than as required by this Agreement, renounce any
      Canadian Exploration Expense or otherwise do anything that will reduce its
      cumulative Canadian Exploration
Expense

                

        

        
          
             

          

          
             

            
              

            

          

          
             

            
              Subscription
Agreement (with related appendixes, schedules and forms)           Page of 17 of 20

              

              

            

          

        

         

        until it
has renounced to the Purchaser the full amount of Qualified Expenditures
required to be so renounced pursuant to this Agreement.

         

        3.2                    Survival
of representations and warranties

         

        The
representations and warranties contained in this Section will survive the
Closing.

         

        4.                      WITHDRAWAL
OF SUBSCRIPTION AND CONTRACTUAL RIGHTS

         

        The
Purchaser reserves the right to withdraw this subscription and to terminate its
obligations hereunder at any time before Closing.

         

        5.                      CLOSING

         

        5.1                      
 The Purchaser acknowledges that, although Purchased Securities may be
issued to other purchasers under the Private Placement concurrently with the
Closing, there may be other sales of Purchased Securities under the Private
Placement, some or all of which may close before or after the Closing. The
Purchaser further acknowledges that there is a risk that insufficient funds may
be raised on the Closing to fund the Issuer’s objectives described in the
Offering Memorandum, if any, and that further closings may not take place after
the Closing.

         

        5.2                      
 On or before the end of the fifth business day before the Closing Date,
the Purchaser will deliver to the Issuer the Subscription Agreement and all
applicable schedules and required forms, duly executed, and payment in full for
the total price of the Purchased Securities to be purchased by the
Purchaser.

         

        5.3                      
  After Closing, the Issuer will deliver to the Purchaser the
certificates representing the Purchased Securities purchased by the Purchaser
registered in the name of the Purchaser or its nominee.

         

        6.                      INDEMNITY

        
           

          6.1                      If
the Company does not renounce to the Purchaser, effective on or before December
31, 2008, and incur on or before December 31, 2009 Qualifying Expenditures equal
to the amount of the subscription, the Company shall indemnify and hold harmless
the Purchaser and each of the partners thereof if the Subscriber is a
partnership or a limited partnership (for the purposes of this paragraph each an
“Indemnified Person”) as to, and pay to the Indemnified Person on or before the
twentieth Business Day following the Termination Date, an amount equal to the
amount of any tax (as referenced in paragraph (c) of the proposed definition of
an “excluded obligation” in subparagraph 6202.1(5) of the regulation to the Act)
payable under the Act (and under any corresponding provincial legislation) by
any Indemnified Person as a consequence of such failure.  In the event
that the amount renounced by the Company to the Subscriber is reduced pursuant
to subsection 66(12.73) of the Act, the Company shall indemnify and hold
harmless each Indemnified Person as to, and pay to the Indemnified Person, an
amount equal to the amount of any tax (as referenced in paragraph (c) of the
proposed definition of an “excluded obligation” in subparagraph 6202.1(5) of the
regulation to the Act) payable under the Act (and under any corresponding
provincial legislation) by the Indemnified Person as a consequence of such
reduction provided that nothing in this paragraph shall derogate from any rights
or remedies the Subscriber may have at common law with respect to liabilities
other than those payable under the Act and any corresponding provincial
legislation. For certainty, the foregoing indemnity shall have no force or
effect and the Subscriber shall not have any recourse or rights of action to the
extent that such indemnity, recourse or rights of action would otherwise cause
the Flow-Through Shares to be “prescribed shares” within the meaning of section
6202.1 of the regulations to the Act.

           

          To
the extent that any Person entitled to be indemnified hereunder is not a party
to this Agreement, the Purchaser shall obtain and hold the rights and benefits
of this Agreement in trust for, and on behalf of, such Person and such Person
shall be entitled to enforce the provisions of this section notwithstanding that
such Person is not a party to this Agreement.

          

            
              
                 

              

              
                 

                
                  

                

              

              
                 

                
                  Subscription
Agreement (with related appendixes, schedules and forms)           Page of 18 of 20

                  

                  

                

              

            

          

        

        
          	
                  7.

                	
                  USE
      OF PERSONAL INFORMATION

                

        

        

        7.1                   
    The Purchaser (on its own behalf and, if applicable, on
behalf of any person for whose benefit the Purchaser is subscribing)
acknowledges and consents to the fact the Issuer is collecting the Purchaser’s
(and any beneficial purchaser’s) personal information for the purpose of
completing the Purchaser’s subscription.  The Purchaser (on its own
behalf and, if applicable, on behalf of any person for whose benefit the
Purchaser is subscribing) acknowledges and consents to the Issuer retaining the
personal information for as long as permitted or required by applicable law or
business practices.  The Purchaser (on its own behalf and, if
applicable, on behalf of any person for whose benefit the Purchaser is
subscribing) further acknowledges and consents to the fact the Issuer may be
required by applicable securities laws, stock exchange rules, and Investment
Dealers Association rules to provide regulatory authorities any personal
information provided by the Purchaser respecting itself (and any beneficial
purchaser).  The Purchaser represents and warrants that it has the
authority to provide the consents and acknowledgements set out in this paragraph
on behalf of all beneficial purchasers.

         

        7.2                 
      The Purchaser hereby acknowledges and
consents to:  (i) the disclosure by the Purchaser and the Issuer of
Personal Information (defined in section 9.5) concerning the Purchaser to the
Commissions or other regulatory authority, or to the Exchange and its
affiliates, authorized agent, subsidiaries and divisions; and (ii) the
collection, use and disclosure of Personal Information by the Exchange for the
following purposes (or as otherwise identified by the Exchange, from time to
time):

         

        
          	
                   
      

                	
                  (a)

                	
                  to
      conduct background checks;

                

        

         

        
          	
                   
      

                	
                  (b)

                	
                  to
      verify the Personal Information that has been provided about the
      Purchaser;

                

        

         

        
          	
                   
      

                	
                  (c)

                	
                  to
      consider the suitability of the Purchaser as a holder of securities of the
      Issuer;

                

        

         

        
          	
                   
      

                	
                  (d)

                	
                  to
      consider the eligibility of the Issuer to continue to list on the
      Exchange;

                

        

         

        
          	
                   
      

                	
                  (e)

                	
                  to
      provide disclosure to market participants as the security holdings of the
      Issuer’s shareholders, and their involvement with any other reporting
      issuers, issuers subject to a cease trade order or bankruptcy, and
      information respecting penalties, sanctions or personal bankruptcies, and
      possible conflicts of interest with the
Issuer;

                

        

         

        
          	
                   
      

                	
                  (f)

                	
                  to
      detect and prevent fraud;

                

        

         

        
          	
                   
      

                	
                  (g)

                	
                  to
      conduct enforcement proceedings;
and

                

        

         

        
          	
                   
      

                	
                  (h)

                	
                  to
      perform other investigations as required by and to ensure compliance with
      all applicable rules, policies, rulings and regulations of the Exchange,
      securities legislation and other legal and regulatory requirements
      governing the conduct and protection of the public markets in
      Canada.

                

        

         

        7.3                
       The Purchaser also acknowledges that:
(i) the Exchange also collects additional Personal Information from other
sources, including securities regulatory authorities in Canada or elsewhere,
investigative law enforcement or self-regulatory organizations, and regulations
service providers to ensure that the purposes set forth above can be
accomplished; (ii) the Personal Information the Exchange collects may also be
disclosed to the agencies and organizations referred to above or as otherwise
permitted or required by law, and they may use it in their own investigations
for the purposes described above; (iii) the Personal Information may be
disclosed on the Exchange’s website or through printed materials published by or
pursuant to the direction of the Exchange; and (iv) the Exchange may from time
to time use third parties to process information and provide other
administrative services, and may share the information with such
providers.

         

        7.4                  
     If the Purchaser is resident in Ontario, the
public official who can answer questions about the Ontario Securities
Commission’s indirect collection of Personal Information is the Administrative
Assistant to the Director of Corporate Finance, Ontario Securities Commission,
Suite 1903, Box 55, 20 Queen Street West, Toronto, Ontario, M5H 3S8, Telephone
416-593-8086.

         

        

          
            
               

            

            
               

              
                

              

            

            
               

              
                Subscription
Agreement (with related appendixes, schedules and forms)           Page of 19 of
20

                

                

              

            

          

        

        7.5                    
    Herein, “Personal Information” means any information
about the Purchaser required to be disclosed to the Commission or the Exchange,
whether pursuant to a Commission or Exchange form or a request made by a
Commission or the Exchange, including the Corporate Placee Registration Form
attached hereto.

         

        8.                      MISCELLANEOUS

         

        8.1                   
    The Purchaser agrees to sell, assign or transfer the
Securities only in accordance with the requirements of applicable securities
laws and any legends placed on the Securities as contemplated by the
Subscription Agreement.

         

        8.2                   
     The Purchaser hereby authorizes the Issuer to
correct any minor errors in, or complete any minor information missing from any
part of the Subscription Agreement and any other schedules, forms, certificates
or documents executed by the Purchaser and delivered to the Issuer in connection
with the Private Placement.

         

        8.3                  
      The Issuer may rely on delivery by fax
machine of an executed copy of this subscription, and acceptance by the Issuer
of such faxed copy will be equally effective to create a valid and binding
agreement between the Purchaser and the Issuer in accordance with the terms of
the Subscription Agreement.

         

        8.4                   
     Without limitation, this subscription and the
transactions contemplated by this Agreement are conditional upon and subject to
the Issuer’s having obtained such regulatory approval of this subscription and
the transactions contemplated by this Agreement as the Issuer considers
necessary.

         

        8.5                    
    This agreement is not assignable or transferable by the
parties hereto without the express written consent of the other party to this
Agreement.

         

        8.6                     
   Time is of the essence of this Agreement and will be
calculated in accordance with the provisions of the Interpretation Act (British
Columbia).

         

        8.7                     
   Except as expressly provided in this Agreement and in the
agreements, instruments and other documents contemplated or provided for in this
Agreement, this Agreement contains the entire agreement between the parties with
respect to the Securities and there are no other terms, conditions,
representations or warranties whether expressed, implied, oral or written, by
statute, by common law, by the Issuer, or by anyone else.

         

        8.8                    
    The parties to this Agreement may amend this Agreement
only in writing.

         

        8.9                    
    This Agreement enures to the benefit of and is binding
upon the parties to this Agreement and their successors and permitted
assigns.

         

        8.10                
      A party to this Agreement will give all
notices to or other written communications with the other party to this
Agreement concerning this Agreement by hand or by registered mail addressed to
the address given on page 1.

         

        8.11                  
    This Agreement is to be read with all changes in gender
or number as required by the context.

         

        8.12                  
    This Agreement will be governed by and construed in
accordance with the internal laws of British Columbia (without reference to its
rules governing the choice or conflict of laws), and the parties hereto
irrevocably attorn and submit to the exclusive jurisdiction of the courts of
British Columbia with respect to any dispute related to this
Agreement.

        

        

          
            
               

            

            
               

              
                

              

            

            
               

              
                Subscription
Agreement (with related appendixes, schedules and forms)           Page of 20 of
20

                

                

              

            

          

        

        END
OF GENERAL PROVISIONS

         

        END
OF SUBSCRIPTION AGREEMENTexh4-156.htm

    Exhibit 4.156

    
 

    UNLESS
PERMITTED UNDER SECURITIES LEGISLATION, THE HOLDER OF THIS SECURITY AND ANY
SECURITY ISSUED ON EXERCISE HEREOF MUST NOT TRADE THE SECURITY BEFORE MAY 1, 2009.

     

    WITHOUT
PRIOR APPROVAL OF THE TSX VENTURE EXCHANGE (THE “EXCHANGE”) AND COMPLIANCE WITH
ALL APPLICABLE SECURITIES LEGISLATION, THE SECURITIES REPRESENTED BY THIS
CERTIFICATE AND ANY SECURITIES ISSUED ON EXERCISE HEREOF MAY NOT BE SOLD,
TRANSFERRED, HYPOTHECATED OR OTHERWISE TRADED ON OR THROUGH THE FACILITIES OF
THE EXCHANGE OR OTHERWISE IN CANADA OR TO OR FOR THE BENEFIT OF A CANADIAN
RESIDENT UNTIL MAY 1, 2009.

     

    THIS
WARRANT CERTIFICATE IS VOID IF NOT EXERCISED ON OR BEFORE

    5:00
P.M. (VANCOUVER TIME) ON DECEMBER 31, 2010.

     

    WARRANT
CERTIFICATE

     

    AMADOR
GOLD CORP.

     

    (Incorporated
under the laws of the Province of British Columbia)

     

    
      	
              WARRANT

              CERTIFICATE
      NO. 01

            	
              1,583,333 WARRANTS
      entitling the holder to acquire, subject to adjustment, one Common Share
      for each Warrant represented
hereby.

            

    

    THIS IS
TO CERTIFY THAT Michael
Brydon

     

     (hereinafter
referred to as the "holder" or the "Warrantholder") is entitled to acquire for
each Warrant represented hereby, in the manner and subject to the restrictions
and adjustments set forth herein, at any time and from time to time until 5:00
p.m. (Vancouver time) (the "Expiry Time") on December 31, 2010, one fully paid
and non-assessable common share ("Common Share") in the capital
of  Amador Gold Corp. (the "Company").

     

    This
Warrant may only be exercised at the registered office of the Company at Amador
Gold Corp., #711 – 675 West Hastings Street, Vancouver, B.C.  V6B
1N2.  This Warrant is issued subject to the terms and conditions
appended hereto as Schedule
"A".

     

    IN
WITNESS WHEREOF, the Company has caused this Warrant to be executed by a duly
authorized officer.

     

    DATED for
reference this 31st day
of December 2008.

     

    
      	 
      	 
      	
              AMADOR
      GOLD CORP.

               

            
	 
      	 
      	 
      	
              Per:

            	 
      
	 
      	 
      	 
      	 
      	
              Authorized
      Signing Officer

            

    

    

     

    (See
terms and conditions attached hereto)

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    SCHEDULE
"A"

     

    TERMS
AND CONDITIONS FOR WARRANT

     

    Terms and
Conditions attached to the Warrant issued by Amador Gold Corp. and dated for
reference December 31, 2008.

     

    ARTICLE
1

     

    INTERPRETATION

     

    1.1                      Definitions

     

    In these
Terms and Conditions, unless there is something in the subject matter or context
inconsistent therewith:

     

    
      	
               
      

            	
              (a)

            	
              "Common Shares" means
      the common shares in the capital of the Company to be issued pursuant to
      the exercise of Warrants;

            

    

     

    
      	
               
      

            	
              (b)

            	
              "Company" means Amador
      Gold Corp. unless and until a successor corporation shall have become such
      in the manner prescribed in Article 6, and thereafter "Company" shall mean
      such successor corporation;

            

    

     

    
      	
               
      

            	
              (c)

            	
              "Company's Auditors"
      means an independent firm of accountants duly appointed as auditors of the
      Company;

            

    

     

    
      	
               
      

            	
              (d)

            	
              "Exchange" means the TSX
      Venture Exchange or such other stock exchange on which the Company's
      Common Shares are listed and posted for
trading;

            

    

     

    
      	
               
      

            	
              (e)

            	
              "Exercise Price" means
      the price of  $0.10 per
share;

            

    

     

    
      	
               
      

            	
              (f)

            	
              "Expiry Time" means 5:00
      p.m. (Vancouver time) on December 31,
2010;

            

    

     

    
      	
               
      

            	
              (g)

            	
              "herein", "hereby" and similar
      expressions refer to these Terms and Conditions as the same may be amended
      or modified from time to time; and the expression "Article" and "Section"
      followed by a number refer to the specified Article or Section of these
      Terms and Conditions;

            

    

     

    
      	
               
      

            	
              (h)

            	
              "Issue Date" means the
      issue date of the Warrant shown on the face page of the Warrant
      Certificate;

            

    

     

    
      	
               
      

            	
              (i)

            	
              "Person" means an
      individual, corporation, partnership, trustee or any unincorporated
      organization and words importing persons have a similar
      meaning;

            

    

     

    
      	
               
      

            	
              (j)

            	
              "Warrant" means the
      warrant to acquire Common Shares evidenced by the Warrant Certificate;
      and

            

    

     

    
      	
               
      

            	
              (k)

            	
              "Warrant Certificate"
      means the certificate to which these Terms and Conditions are
      attached.

            

    

     

    1.2                      Interpretation
Not Affected by Headings

     

    
      	
               
      

            	
              a)

            	
              The
      division of these Terms and Conditions into Articles and Sections, and the
      insertion of headings are for convenience of reference only and shall not
      affect the construction or interpretation
  thereof.

            

    

     

    
      	
               
      

            	
              b)

            	
              Words
      importing the singular number include the plural and vice versa and words
      importing the masculine gender include the feminine and neuter
      genders.

            

    

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    
      	
                1.3

            	
               

            	
              Applicable
      Law

            

    

     

    The terms
hereof and of the Warrant shall be construed in accordance with the laws of the
Province of Ontario and the laws of Canada.

    ARTICLE
2

     

    ISSUE
OF WARRANT

    

    
      	
              2.1

            	
              Issue
      of Warrants

            

    

     

    That
number of Warrants set out on the Warrant Certificate are hereby created and
authorized to be issued.

     

    
      	
              2.2

            	
              Additional
      Warrants

            

    

     

    Subject
to any other written agreement between the Company and the Warrantholder, the
Company may at any time and from time to time undertake further equity or debt
financing and may issue additional Common Shares, warrants or grant options or
similar rights to purchase Common Shares to any person.

     

    
      	
              2.3

            	
              Issue
      in Substitution for Lost Warrants

            

    

     

    If the
Warrant Certificate becomes mutilated, lost, destroyed or stolen:

     

    
      	
               
      

            	
              (a)

            	
              the
      Company shall issue and deliver a new Warrant Certificate of like date and
      tenor as the one mutilated, lost, destroyed or stolen, in exchange for and
      in place of and upon cancellation of such mutilated, lost, destroyed or
      stolen Warrant Certificate; and

            

    

     

    
      	
               
      

            	
              (b)

            	
              the
      holder shall bear the cost of the issue of a new Warrant Certificate
      hereunder and in the case of the loss, destruction or theft of the Warrant
      Certificate, shall furnish to the Company such evidence of loss,
      destruction, or theft as shall be satisfactory to the Company in its
      discretion and the Company may also require the holder to furnish
      indemnity in an amount and form satisfactory to the Company in its
      discretion, and shall pay the reasonable charges of the Company in
      connection therewith.

            

    

     

    
      	
              2.4

            	
              Warrantholder
      Not a Shareholder

            

    

     

    The
Warrant shall not constitute the holder a shareholder of the Company, nor
entitle it to any right or interest in respect thereof except as may be
expressly provided in the Warrant.

     

    ARTICLE
3

     

    EXERCISE
OF THE WARRANT

     

    
      	
              3.1

            	
              Method
      of Exercise of the Warrant

            

    

     

    The right
to purchase Common Shares conferred by the Warrant Certificate may be exercised,
prior to the Expiry Time, by the holder surrendering it, with a duly completed
and executed exercise form substantially in the form attached hereto as Schedule "B" and cash or a
certified cheque payable to or to the order of the Company, for the Exercise
Price applicable at the time of surrender in respect of the Common Shares
subscribed for in lawful money of Canada, to the Company.

     

    
      	
              3.2

            	
              Effect
      of Exercise of the Warrant

            

    

     

    
      	
               
      

            	
              (a)

            	
              Upon
      surrender and payment as aforesaid the Common Shares so subscribed for
      shall be issued as fully paid and non-assessable shares and the holder
      shall become the holder of record of such Common Shares on the date of
      such surrender and payment; and

            

    

     

    
      	
               
      

            	
              (b)

            	
              Within
      five business days after surrender and payment as aforesaid, the Company
      shall forthwith cause the issuance to the holder of a certificate for the
      Common Shares purchased as
aforesaid.

            

    

     

    
       

      
        3

        
          

        

      

      
         

      

    

    
      	
              3.3

            	
              Subscription
      for Less than Entitlement

            

    

     

    The
holder may subscribe for and purchase a number of Common Shares less than the
number which it is entitled to purchase pursuant to the surrendered Warrant
Certificate.  In the event of any purchase of a number of Common
Shares less than the number which can be purchased pursuant to the Warrant
Certificate, the holder shall be entitled to the return of the Warrant
Certificate with a notation on the Grid attached hereto as Schedule "C" showing the
balance of the Common Shares which it is entitled to purchase pursuant to the
Warrant Certificate which were not then purchased.

     

    
      	
              3.4

            	
              Expiration
      of the Warrant

            

    

     

    After the
Expiry Time all rights hereunder shall wholly cease and terminate and the
Warrant shall be void and of no effect.

     

    
      	
              3.5

            	
              Hold
      Periods and Legending of Share
Certificate

            

    

     

    If any of
the Warrants are exercised prior to May 1, 2009, the certificates representing
the Common Shares to be issued pursuant to such exercise shall bear the
following legends:

     

    

    “Unless permitted under securities
legislation, the holder of this security shall not trade the security before May
1, 2009.”

    

    “Without
prior written approval of the TSX Venture Exchange and compliance with all
applicable securities legislation, the securities represented by this
certificate may not be sold, transferred, hypothecated or otherwise traded on or
through the facilities of the TSX Venture Exchange or otherwise in Canada or to
or for the benefit of a Canadian resident until May 1, 2009.”

     

    

     

    ARTICLE
4

     

    ADJUSTMENTS

     

    
      	
              4.1

            	
              Adjustments

            

    

     

    The
number of Common Shares purchasable upon the exercise of each Warrant and the
Exercise Price shall be subject to adjustment as follows:

     

    
      	
               
      

            	
              (a)

            	
              in
      the event the Company shall:

            

    

     

    (i)           pay
a dividend in Common Shares or make a distribution in Common
Shares;

     

    (ii)         subdivide
its outstanding Common Shares;

     

    (iii)        combine
its outstanding Common Shares into a smaller number of Common Shares;
or

     

    
      	
               
      

            	
              (iv)

            	
              issue
      by reclassification of its Common Shares other securities of the Company
      (including any such reclassification in connection with a consolidation,
      merger, amalgamation or other combination in which the Company is the
      surviving corporation);

            

    

     

    the
number of Common Shares (or other securities) purchasable upon exercise of each
Warrant immediately prior thereto shall be adjusted so that the Warrantholder
shall be entitled to receive the kind and number of Common Shares or other
securities of the Company which it would have owned or have been entitled to
receive after the happening of any of the events described above, had such
Warrant been exercised immediately prior to the happening of such event or any
record date with respect thereto.  An adjustment made pursuant to this
subsection (a) shall become effective immediately after the effective date of
such event retroactive to the record date, if any, for such event.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    

    
      	
               
      

            	
              (b)

            	
              In
      case the Company shall issue rights, options or warrants to all or
      substantially all holders of its outstanding Common Shares, without any
      charge to such holders, entitling them (for a
  period

            

    

     

    within 45
days after the record date mentioned below) to subscribe for or purchase Common
Shares at a price per share which is lower than 95% of the current market price
at the record date mentioned below than the then current market price per Common
Share (as determined in accordance with subsection (d) below), the number of
Common Shares thereafter purchasable upon the exercise of each Warrant shall be
determined by multiplying the number of Common Shares theretofore purchasable
upon exercise of each Warrant by a fraction, of which the numerator shall be the
number of Common Shares outstanding on the date of issuance of such rights,
options or warrants plus the number of additional Common Shares offered for
subscription or purchase, and of which the denominator shall be the number of
Common Shares outstanding on the date of issuance of such rights, options or
warrants plus the number of shares which the aggregate offering price of the
total number of Common Shares so offered would purchase at the current market
price per Common Share at such record date.  Such adjustment shall be
made whenever such rights, options or warrants are issued, and shall become
effective immediately after the record date for the determination of
shareholders entitled to receive such rights, options or warrants.

     

    
      	
               
      

            	
              (c)

            	
              In
      case the Company shall distribute to all or substantially all holders of
      its Common Shares evidences of its indebtedness or assets (excluding cash
      dividends or distributions payable out of consolidated earnings or earned
      surplus and dividends or distributions referred to in subsection (a) above
      or in subsection (d) below or rights, options or warrants, or convertible
      or exchangeable securities containing the right to subscribe for or
      purchase Common Shares (excluding those referred to in subsection (b)
      above)), then in each case the number of Common Shares thereafter
      purchasable upon the exercise of each Warrant shall be determined by
      multiplying the number of Common Shares theretofore purchasable upon the
      exercise of each Warrant by a fraction, of which the numerator shall be
      the then current market price per Common Share (as determined in
      accordance with subsection (d) below) on the date of such distribution,
      and of which the denominator shall be the then current market price per
      Common Share less the then fair value (as determined by the board of
      directors of the Company, acting reasonably) of the portion of the assets
      or evidences of indebtedness so distributed or of such subscription
      rights, options or warrants, or of such convertible or exchangeable
      securities applicable to one Common Share.  Such adjustment
      shall be made whenever any such distribution is made, and shall become
      effective on the date of distribution retroactive to the record date for
      the determination of shareholders entitled to receive such
      distribution.

            

    

     

    In the
event of the distribution by the Company to all or substantially all of the
holders of its Common Shares of shares of a subsidiary or securities convertible
or exercisable for such shares, then in lieu of an adjustment in the number of
Common Shares purchasable upon the exercise of each Warrant, the Warrantholder
of each Warrant, upon the exercise thereof, shall receive from the Company, such
subsidiary or both, as the Company shall reasonably determine, the shares or
other securities to which such Warrantholder would have been entitled if such
Warrantholder had exercised such Warrant immediately prior thereto, all subject
to further adjustment as provided in this section 4.1 provided, however, that no
adjustment in respect of dividends or interest on such shares or other
securities shall be made during the term of a Warrant or upon the exercise of a
Warrant.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    
      	
               
      

            	
              (d)

            	
              For
      the purpose of any computation under subsections (b) and (c) of this
      section 4.1, the current market price per Common Share at any date shall
      be the weighted average price per Common Share for twenty-five (25)
      consecutive trading days, commencing not more than 45 trading days before
      such date on the stock exchange on which the Common Shares are then
      traded; provided if the Common Shares are then traded on more than one
      stock exchange, then on the stock exchange on which the largest volume of
      Common Shares were traded during such twenty-five (25) consecutive trading
      day period.  The weighted average price per Common Share shall
      be determined by dividing the aggregate sale price of all Common Shares
      sold on such exchange or market, as the case may be, during the said
      twenty-five (25) consecutive trading days by the total number of shares so
      sold.  For purposes of this subsection (d), trading day means,
      with respect to a stock exchange, a day on which such exchange is open for
      the transaction of business.  Should the Common Shares not be
      listed on any stock exchange the current market price per Common Share at
      any date shall be determined by the board of directors of the Company,
      acting reasonably.

            

    

     

    
      	
               
      

            	
              (e)

            	
              In
      any case in which this Article 4 shall require that any adjustment in the
      Exercise Price be made effective immediately after a record date for a
      specified event, the Company may elect to defer until the occurrence of
      the event the issuance, to the holder of any Warrant exercised after that
      record date, of the Common Shares and other shares of the Company, if any,
      issuable upon the exercise of the Warrant over and above the Common Shares
      and other shares of the Company; provided, however, that the Company shall
      deliver to the holder an appropriate instrument evidencing the holder's
      right to receive such additional shares upon the occurrence of the event
      requiring such adjustment.

            

    

     

    
      	
               
      

            	
              (f)

            	
              No
      adjustment in the number of Common Shares purchasable hereunder shall be
      required unless such adjustment would require an increase or decrease of
      at least one percent (1%) in the number of Common Shares purchasable upon
      the exercise of each Warrant; provided, however, that any adjustments
      which by reason of this subsection (f) are not required to be made shall
      be carried forward and taken into account in any subsequent
      adjustment.  All calculations shall be made to the nearest
      one-hundredth of a share.

            

    

     

    
      	
               
      

            	
              (g)

            	
              Wherever
      the number of Common Shares purchasable upon the exercise of each Warrant
      is adjusted, as herein provided, the Exercise Price payable upon exercise
      of each Warrant shall be adjusted by multiplying such Exercise Price
      immediately prior to such adjustment by a fraction, of which the numerator
      shall be the number of Common Shares purchasable upon the exercise of such
      Warrant immediately prior to such adjustment, and of which the denominator
      shall be the number of Common Shares purchasable immediately
      thereafter.

            

    

     

    
      	
               
      

            	
              (h)

            	
              No
      adjustment in the number of Common Shares purchasable upon the exercise of
      each Warrant need be made under subsections (b) and (c) if, the Company
      issues or distributes to the Warrantholder the rights, options, warrants,
      or convertible or exchangeable securities, or evidences of indebtedness or
      assets referred to in those subsections which the Warrantholder would have
      been entitled to receive had the Warrants been exercised prior to the
      happening of such event or the record date with respect
      thereto.

            

    

     

    
      	
               
      

            	
              (i)

            	
              In
      the event that at any time, as a result of an adjustment made pursuant to
      subsection (a) above, the Warrantholder shall become entitled to purchase
      any securities of the Company other than Common Shares, thereafter the
      number of such other shares so purchasable upon exercise of each Warrant
      and the Exercise Price of such shares shall be subject to adjustment from
      time to time in a manner and on terms as nearly equivalent as practicable
      to the provisions with respect to the Common Shares contained in
      subsections (a) through (h), inclusive, above, and the provisions of
      sections 4.2 through 4.4, inclusive, of this Article 4 with respect to the
      Common Shares, shall apply on like terms to any such other
      securities.

            

    

     

    
      	
               
      

            	
              (j)

            	
              Upon
      the expiration of any rights, options, warrants or conversion or exchange
      privileges, if any thereof shall not have been exercised, the Exercise
      Price and the number of Common Shares purchasable upon the exercise of
      each Warrant shall, upon such expiration, be readjusted and shall
      thereafter be such as it would have been had it been originally adjusted
      (or had the original adjustment not been required, as the case may be) as
      if:

            

    

     

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    
      	
               
      

            	
              (i)

            	
              the
      only Common Shares so issued were the Common Shares, if any, actually
      issued or sold upon the exercise of such rights, options, warrants or
      conversion or exchange rights; and

            

    

     

    
      	
               
      

            	
              (ii)

            	
              such
      Common Shares, if any, were issued or sold for the consideration actually
      received by the Company upon such exercise plus the aggregate
      consideration, if any, actually received by the Company for the issuance,
      sale or grant of all such rights, options, warrants or conversion or
      exchange rights whether or not
exercised;

            

    

     

    provided
further, that no such readjustment shall have the effect of increasing the
Exercise Price or decreasing the number of Common Shares purchasable upon the
exercise of each Warrant by an amount in excess of the amount of the adjustment
initially made with
respect to the issuance, sale or grant of such rights, options, warrants or
conversion or exchange rights.

     

    
      	
              4.2

            	
              Voluntary
      Adjustment by the Company

            

    

     

    Subject
to requisite Exchange approval, the Company may, at its option, at any time
during the term of the Warrants, reduce the then current Exercise Price to any
amount deemed appropriate by the Board of Directors of the Company.

     

    
      	
              4.3

            	
              Notice
      of Adjustment

            

    

     

    Whenever
the number of Common Shares purchasable upon the exercise of each Warrant or the
Exercise Price of such Common Shares is adjusted, as herein provided, the
Company shall promptly send to the Warrantholder by first class mail, postage
prepaid, notice of such adjustment or adjustments.

     

    
      	
              4.4

            	
              No
      Adjustment for Dividends

            

    

     

    Except as
provided in section 4.1 of this Article 4, no adjustment in respect of any
dividends shall be made during the term of a Warrant or upon the exercise of a
Warrant.

     

    
      	
              4.5

            	
              Preservation
      of Purchase Rights Upon Merger, Consolidation,
  etc.

            

    

     

    In
connection with any consolidation of the Company with, or amalgamation or merger
of the Company with or into, another corporation (including, without limitation,
pursuant to a "takeover bid", "tender offer" or other acquisition of all or
substantially all of the outstanding Common Shares) or in case of any sale,
transfer or lease to another corporation of all or substantially all the
property of the Company, the Company or such successor or purchasing
corporation, as the case may be, shall execute with the Warrantholder an
agreement that the Warrantholder shall have the right thereafter, upon payment
of the Exercise Price in effect immediately prior to such action, to purchase
upon exercise of each Warrant the kind and amount of shares and other securities
and property which it would have owned or have been entitled to receive after
the happening of such consolidation, amalgamation, merger, sale, transfer or
lease had such Warrant been exercised immediately prior to such action, and the
Warrantholder shall be bound to accept such shares and other securities and
property in lieu of the Common Shares to which it was previously entitled;
provided, however, that no adjustment in respect of dividends, interest or other
income on or from such shares or other securities and property shall be made
during the term of a Warrant or upon the exercise of a Warrant.  Any
such agreement shall provide for adjustments, which shall be as nearly
equivalent as may be practicable to the adjustments provided for in this
Schedule "A".  The provisions of this Article 4 shall similarly apply
to successive consolidations, mergers, amalgamation, sales, transfers or
leases.

     

    
      	
              4.6

            	
              Determination
      of Adjustments

            

    

     

    If any
questions shall at any time arise with respect to the Exercise Price, such
question shall be conclusively determined by the Company's Auditors, or, if they
decline to so act, any other firm of Chartered Accountants, in Toronto, Ontario,
that the Company may designate and the Warrantholder, acting reasonably, may
approve, and who shall have access to all appropriate records and such
determination shall be binding upon the Company and the holder.

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    ARTICLE
5

     

    COVENANTS
BY THE COMPANY

     

    
      	
              5.1

            	
              Reservation
      of Common Shares

            

    

     

    The
Company will reserve and there will remain unissued out of its authorized
capital a sufficient number of Common Shares to satisfy the rights of
acquisition provided for in the Warrant Certificate.

     

    
      ARTICLE
6

       

      MERGER
AND SUCCESSORS

       

    

    
      	
              6.1

            	
              Company
      May Consolidate, etc. on Certain
Terms

            

    

     

    Nothing
herein contained shall prevent any consolidation, amalgamation or merger of the
Company with or into any other corporation or corporations, or a conveyance or
transfer of all or substantially all the properties and estates of the Company
as an entirety to any corporation lawfully entitled to acquire and operate same,
provided, however, that the corporation formed by such consolidation,
amalgamation or merger or which acquires by conveyance or transfer all or
substantially all the properties and estates of the Company as an entirety
shall, simultaneously with such amalgamation, merger, conveyance or transfer,
assume the due and punctual performance and observance of all the covenants and
conditions hereof to be performed or observed by the Company.

     

    
      	
              6.2

            	
              Successor
      Company Substituted

            

    

     

    In case
the Company, pursuant to section 6.1 shall be consolidated, amalgamated or
merged with or into any other corporation or corporations or shall convey or
transfer all or substantially all of its properties and estates as an entirety
to any other corporation, the successor corporation formed by such consolidation
or amalgamation, or into which the Company shall have been consolidated,
amalgamated or merged or which shall have received a conveyance or transfer as
aforesaid, shall succeed to and be substituted for the Company hereunder and
such changes in phraseology and form (but not in substance) may be made in the
Warrant Certificate and herein as may be appropriate in view of such
amalgamation, merger or transfer.

     

    ARTICLE
7

     

    AMENDMENTS

     

    
      	
              7.1

            	
              Amendment,
      etc.

            

    

     

    This Warrant Certificate may only be
amended by a written instrument signed by the parties
hereto.

     

    ARTICLE
8

     

    MISCELLANEOUS

     

    
      	
              8.1

            	
              Time

            

    

     

    Time is
of the essence of the terms of this Warrant Certificate.

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    
      	
              8.2

            	
              Notice

            

    

     

     

    Any
notice or other communication to be given in connection with this Warrant
Certificate must be in writing and given by personal delivery or fax to the
following addresses:

     

    
      	 	
              For
      the Company:

            	
              Diana
      Mark

            

    

    
      	
               
      

            	
              #711
      – 675 West Hastings Street

            

    

    
      	
               
      

            	
              Vancouver,
      B.C.  V6B 1N2

            

    

    
      	
               
      

            	
              Fax:  (604)
      685-3764

            

    

    
      	
               
      

            	
              E-mail:  dmark@hastingsmc.com

            

    

    

    

    
      	 	
              For
      the Warrantholder:

            	
              LIMITED
      MARKET DEALER INC.

              1110 Finch Avenue West, Suite 201

              Toronto, Ontario, M3J 2T2

            

    

     

    
      	
               
      

            	
              Attention:

            	
              Imi
      Hashmani

              CFO

                Fax: 
      (416)-665-4772

                E-mail: 
      imtiaz@mineralfields.com

              

            

    

     

    
       

      
        	
                 
      

              	
              	
                AND  TO

                 

                
                  BMO Nesbitt
      Burns

                  1 First Canadian Place, 47th Floor

                  Toronto, Ontario, M5X 1H3

                

              

      

    

     

     

    
      	
               
      

            	
              Attention:

            	
              Taren
      Carroll

              Fax:  416-359-4943

              E-mail:  Taren.Carroll@nbpcd.com

            

    

     

     

    

    
      	
              8.3

            	
              Transfer
      of Warrants

            

    

     

    Subject
to applicable securities legislation and the rules, policies, notices and orders
issued by applicable securities regulatory authorities, including the TSX
Venture Exchange (or any other stock exchange on which the Common Shares are
listed), the Warrants evidenced hereby (or any portion thereof) may be assigned
or transferred by the holder by duly completing and executing the transfer form
attached hereto as Schedule “D”.  The rights and obligations of the
parties hereunder shall be binding upon and enure to the benefit of their
successors and permitted assigns

     

    .

     

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    SCHEDULE
"B"

     

    EXERCISE
FORM

     

    TO:           AMADOR
GOLD CORP.

     

    Terms
which are not otherwise defined herein shall have the meanings ascribed to such
terms in the Warrant Certificate held by the undersigned and issued by Amador
Gold Corp.  (the "Company").

     

    The
undersigned hereby exercises the right to acquire __________ Common Shares of
the Company in accordance with and subject to the provisions of such Warrant
Certificate and herewith makes payment of the purchase price in full for the
said number of Common Shares.

     

    The
Common Shares are to be issued as follows:

     

    
      	
              Name:

            	 
      
	 
      	 
      
	
              Address
      in full:

            	 
      
	 
      	 
      
	 
      	 
      
	
              Social
      Insurance Number:

            	 
      
	 
      	 
      

    

    Note:  If
further nominees are intended, please attach (and initial) a schedule giving
these particulars.

     

    DATED
this _____ day of _______________, 200__.

     

    

     

    
      	 	 	 
	
              Signature
      Guaranteed

            	 
      	
              (Signature
      of Warrantholder)

               

            
	 
      	 
      	
              Print
      full name

               

            
	 
      	 
      	
              Print
      full address

            

    

    

     

    Instructions:

     

    
      	
              1.

            	
              The
      registered holder may exercise its right to receive Common Shares by
      completing this form and surrendering this form and the Warrant
      Certificate representing the Warrants being exercised to the
      Company.

            

    

     

    
      	
              2.

            	
              If
      the Exercise Form indicates that Common Shares are to be issued to a
      person or persons other than the registered holder of the Warrant
      Certificate, the signature of such holder of the Exercise Form must be
      guaranteed by an authorized officer of a chartered bank, trust company or
      an investment dealer who is a member of a recognized stock
      exchange.

            

    

     

    
      	
              3.

            	
              If
      the Exercise Form is signed by a trustee, exercise, administrator,
      curator, guardian, attorney, officer of a corporation or any person acting
      in a judiciary or representative capacity, the certificate must be
      accompanied by evidence of authority to sign satisfactory to the
      Company.

            

    

     

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    SCHEDULE
"C"

     

    WARRANT
EXERCISE GRID

     

    
      	
              Common
      Shares Issued

            	
              Common
      Shares Available

            	
              Initials
      of Authorized Officer

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      

    

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

    SCHEDULE
"D"

     

    TRANSFER
FORM

     

    FOR VALUE
RECEIVED the undersigned hereby sells, assigns and transfers
unto

                                                                      

    (Please
print or typewrite name and address of assignee)

     

                                                                     

     

        Warrant(s)
represented by the within certificate, and do(es) hereby irrevocably constitute
and appoint

     

                                                                 

     

          
the attorney of the undersigned to transfer the said Warrants maintained
by the transfer agent of the Company with full power of substitution
hereunder.

     

    DATED
this     day of                                                               .

     

    
      	 	 	 
	 
      	 	
              Signature
      of Holder

               

            
	 	 	 
	
              Signature
      Guarantee

               

            	 	
              Name
      of Holder (please print)

            

    

    

     

    The
signature of the Holder to this assignment must correspond exactly with the name
of the Holder as set forth on the face of this Warrant certificate in every
particular, without alteration or enlargement or any change whatsoever and the
signature must be guaranteed by a Canadian chartered bank or by a Canadian trust
company or by a medallion signature guarantee from a member of a recognized
Signature Medallion Guarantee Program.

     

    
      
         

      

      
        12

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