Document:

Filed by Automated Filing Services Inc. (604)609-0244 - Buckingham Exploration Inc. - Exhibit 10.3

Addendum

THIS ADDENDUM (“Addendum”) effective as of November 20,
2006.

BETWEEN

(1) Buckingham Exploration Inc.
(“Purchaser”) 
(2) Elite Vantage Development Limited (“Elite”)
 (3) Henry
Tam

WHEREAS:

(A) The parties entered into a binding Purchase Agreement on
August 8, 2006 with respect to a mining interest in the Simpson Island Property
(the “PA”).

(B) The parties wish to correct a typo in the PA and clarify the
payment due date of the PA.

THIS AGREEMENT WITNESSES that the parties have agreed
that:

	1. 	For the purposes of the PA, the payment of $50,000 shall be due on or
      before February 1, 2007. If the Purchaser does not pay the $50,000 by
      February 1, 2007, Elite and Henry Tam shall have an option to terminate
      the PA by sending to the Purchaser a written notice signed by Elite and
      Henry Tam, along with return of any share certificates in the Purchaser
      they are in their possession. Upon termination, the common shares of the
      Purchaser issued to Elite and Henry Tam shall be cancelled immediately.
  
	 	 
	2. 	Paragraph 1.1 is amended so that it will be read as follows:
  

“The Vendor hereby sells, assigns,
transfers and sets over unto the Purchaser for its own use absolutely an
undivided 100% interest in and to the Mineral Claims in consideration for
CAD$50,000 and 2,000,000 shares of Buckingham (the “Purchase Price”) subject to
the Net Smelter Royalty. The Purchaser shall pay the purchase price by paying to
Elite CAD$25,000 and 1,000,000 shares of Buckingham Exploration Inc. and Henry
Tam CAD$25,000 and 1,000,000 shares of Buckingham Exploration Inc.”

	3. 	All other provisions in the PA shall remain in full force and effect.
    
	 	 
	4. 	This Addendum shall ensure to the benefit of and be binding upon my
      heirs, executors, administrators, successors and assigns. 
	 	 
	5. 	This Addendum may be signed in counterpart and all counterparts taken
      together shall constitute one and the same Addendum, and any facsimile
      signature shall be taken as an original. 

IN WITNESS WHEREOF this Addendum has been executed by the
parties to it, the day, month and year first written.

Buckingham Exploration Inc.

/S/ Robin Relph_______
Per: Robin Relph, President

Elite Vantage Development Limited

/S/ Simon Tam_________
Per: Authorized Signatory

Henry Tam

/S/ Henry Tam_____
Per: Henry TamFiled by Automated Filing Services Inc. (604)609-0244 - Hemis Corp. - Exhibit 10.11

AMENDMENT TO INDEPENDENT CONSULTING AGREEMENT

This Agreement dated November 9, 2006 amends the Independent
Consulting Agreement dated 1 May, 2006 between Hemis Corporation (the “Company”)
and Hudson Capital Corporation (the “Consultant”) (the “Agreement”).

Now therefore, and in consideration of the mutual covenants and
promises herein contained and other good and valuable consideration, the Company
and the Consultant hereby agree as follows:

Paragraph 3 of the Agreement shall be deleted in its
entirely and replaced with the following paragraph:

“Bonus Shares shall be issued to the Consultant upon the Company
and/or the Consultant achieving certain goals or achievements as communicated by
the Company to the Consultant from time to time during the term of this
Agreement. The Company maintains sole discretion in deciding whether a goal or
achievement has been met and whether and how many bonus shares to issue to the
Consultant. The Company shall only issue shares as a bonus to the Consultant
when the Company’s Board of Directors determines that such bonus is
warranted.”

Paragraph 5 of the Agreement shall be deleted in its
entirety.

The Company hereby agrees to issue 900,000 shares as a bonus to
Consultant on November 9, 2006.

In witness whereof this Agreement has been executed by or on
behalf of the parties hereto, as an instrument under seal as of the date first
written above.

	 	Hemis Corporation Inc. 
	 	  
	 	  
	 	By: /s/ Norman Meier 
	 	Title: President & Chief 
	 	Executive Officer 
	 	  
	 	  
	 	  
	 	  
	 	Hudson Capital 
	 	Corporation. 
	 	  
	 	  
	 	By: /s/ Jordan Shapiro 
	 	Title: PresidentExhibit
      10.1

     

    GOLD
      RESOURCE CORPORATION

    

    SUBSCRIPTION
      AGREEMENT FOR COMMON STOCK PLACEMENT

    

    ________________
      2006

    

    TO:  GOLD
      RESOURCE CORPORATION

    

    

    The
      Subscriber (as hereinafter defined) hereby irrevocably subscribes for and agrees
      to purchase from Gold Resource Corporation (the “Corporation”)
      that
      number of shares of common stock of the Corporation (the “Shares”)
      set
      out below at a price of US$1.20
      per
      Share. The Subscriber agrees to be bound by the terms and conditions set forth
      in the attached “Terms and Conditions of Subscription for Common Stock”
including, without limitation, the representations, warranties and covenants
      set
      forth therein. The Subscriber further agrees, without limitation, that the
      Corporation may rely upon the Subscriber’s representations, warranties and
      covenants contained in such documents.

    

    SUBSCRIPTION
      AND SUBSCRIBER INFORMATION

    

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

     

    
      
        	 	 	 
	
                 

                _____________________________________________________________________

              	 	
                 

                Number
                  of Shares:  _____________________________________xUS$1.20

              
	
                (Name
                  of Subscriber)

              	 	 
	 	 	 
	
                Account
                  Reference (if applicable):
                  ___________________________________________________

              	 	 
	
                 

                By:
                  ____________________________________________________________________________

                    Authorized
                  Signature 

              	 	
                 

                Aggregate
                  Subscription
                  Cost:$______________________________________________________________

                                    (the
                  “Subscription
                  Amount”)

                 

              
	
                 

                _____________________________________________________________________

              	 	 
	
                
                  (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)

                 

                
                  _____________________________________________________________________

                

                 

                
                  _____________________________________________________________________

                

                (Telephone
                  Number)                         (Email
                  Address)

              	 	
                Please
                  complete if purchasing as agent or trustee for a principal (beneficial
                  purchaser) (a “Disclosed Principal”) and not purchasing as trustee or
                  agent for accounts fully managed by it.

                 

                
                  _____________________________________________________________________

                

                (Name
                  of Disclosed Principal)

                
                   

                  _____________________________________________________________________

                

                (Address
                  of Disclosed Principal)

                 

                
                  _____________________________________________________________________

                

                (Account
                  Reference, if applicable)

                 

              
	
                 

                 

              	 	 
	
                 

                Account
                  Registration Information:

                 

                
                  _____________________________________________________________________

                

                (Name)

                 

                
                  _____________________________________________________________________

                

                (Account
                  Reference, if applicable)

                 

                
                  _____________________________________________________________________

                

                (Address,
                  including Postal or Zip Code)

              	 	
                 

                Delivery
                  Instructions as set forth below:

                 

                
                  _____________________________________________________________________________

                

                (Name)

                
                  _____________________________________________________________________

                

                (Account
                  Reference, if applicable)

                
                  _____________________________________________________________________

                

                (Address)

                
                  _____________________________________________________________________

                

                   
                  (Contact Name) (Telephone
                  Number)

                 

              
	
                 

                 

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

                 

                
                  _____________________________________________________________________

                

                 

                _____________________________________________________________________

                 

              	 	 

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

         

        
          TERMS
            AND CONDITIONS OF SUBSCRIPTION FOR 

          SHARES

           

          This
            Subscription Agreement is entered into between Gold Resource Corporation
            ("Corporation") and the undersigned individual or entity that has subscribed
            for
            Shares of common stock of the Corporation ("Subscriber").

           

          ARTICLE
            1 -
            SUBSCRIPTION
            AND DESCRIPTION OF SHARES

           

          
            	
                    1.1

                  	
                    Subscription
                      for Shares

                  

          

           

          The
            Subscriber hereby confirms its subscription for and offer to purchase
            the Shares
            from the Corporation, on and subject to the terms and conditions set
            out in this
            Subscription Agreement, for the Subscription Amount, which is payable
            as
            described in Article 2 hereto.

           

          
            	
                    1.2

                  	
                    Acceptance
                      and Rejection of Subscription by the
                      Corporation

                  

          

           

          The
            Subscriber acknowledges and agrees that the Corporation reserves the
            right, in
            its absolute discretion, to reject this subscription, in whole or in
            part, at
            any time prior to the Closing Time. If this subscription is rejected
            in whole,
            any checks or other forms of payment delivered to the Corporation representing
            the Subscription Amount will be promptly returned to the Subscriber without
            interest or deduction. If this subscription is accepted only in part,
            a check
            representing any refund of the Subscription Amount for that portion of
            the
            subscription for the Shares which is not accepted, will be promptly delivered
            to
            the Subscriber without interest or deduction.

           

          ARTICLE
            2 -
            CLOSING

           

          
            	
                    2.1

                  	
                    Closing

                  

          

           

          Delivery
            and sale of the Shares and payment of the Subscription Amount will be
            completed
            (the “Closing”)
            at the
            offices of the Corporation’s counsel, Dufford & Brown, P.C. in Denver,
            Colorado at 10:00
            a.m.
            (Denver time) (the “Closing
            Time”)
            on
            November 30, 2006 or such other place, date or time as the Corporation
            and the
            Subscribers may agree (the “Closing
            Date”).
            At
            that place and time, and subject to the conditions set forth in Section
            2.2
            below, the Corporation shall deliver or cause to be delivered certificates
            representing the Shares against payment by the Subscriber for the
            Shares.

           

          The
            Subscriber understands and agrees that the sale of the Shares is being
            made by
            the Corporation on a "best efforts" basis, that there is no minimum number
            of
            shares that must be sold in the offering and that the proceeds of the
            sale will
            immediately be deposited in the Corporation's bank account and available
            for all
            valid corporate purposes. The Subscriber also understands that there
            may be
            other similar closings with other subscribers up to a total of 4.5 million
            shares.

           

          
            	
                    2.2

                  	
                    Conditions
                      of Closing

                  

          

           

          The
            Subscriber acknowledges and agrees that the obligations of the Corporation
            hereunder are conditional on the accuracy of the representations and
            warranties
            of the Subscriber contained in this Subscription Agreement as of the
            date of
            this Subscription Agreement, and as of the Closing Time as if made at
            and as of
            the Closing Time, and the fulfillment of the following additional conditions
            as
            soon as possible and in any event not later than the Closing Time:

           

          
            	 	
                    (a)

                  	
                    payment
                      by the Subscriber of the Subscription Amount by certified check
                      or bank
                      draft in United States dollars payable to “Gold Resource Corporation”;
                      and

                  

          

          
            
              
              

            

            
              -
                2
                -

              
                

              

            

            
              
              

            

          

           

          
            	 	
                    (b)

                  	
                    the
                      Subscriber having properly completed, signed and delivered
                      this
                      Subscription Agreement to
                      the Corporation at Gold Resources Corporation, 222 Milwaukee
                      Street, Suite
                      301, Denver, Colorado 80206.

                  

          

           

          ARTICLE
            3-
            REPRESENTATIONS AND WARRANTIES OF THE
            CORPORATION

           

          
            	
                    3.1

                  	
                    Representations,
                      Warranties and Covenants of the
                      Corporation

                  

          

           

          The
            Corporation hereby represents and warrants to, and covenants with, the
            Subscriber as follows and acknowledges that the Subscriber is relying
            on such
            representations and warranties in connection with the transaction contemplated
            hereby:

           

          
            	 	
                    (a)

                  	
                    The
                      Corporation and its subsidiaries have been duly incorporated
                      and are in
                      good standing under the laws of their respective jurisdictions,
                      and are
                      current and up-to-date with all filings required to be made
                      by them in
                      such jurisdiction, have all requisite corporate power and authority
                      and
                      are duly qualified and possess all certificates, authorizations,
                      permits
                      and licences issued by the appropriate state, municipal, federal
                      regulatory agencies or bodies necessary (and has not received
                      or is aware
                      of any modification or revocation to such licences, authorizations,
                      certificates or permits) to carry on its business as now conducted
                      and to
                      own its properties and assets and the Corporation and its subsidiaries
                      have all requisite corporate power and authority to carry out
                      their
                      obligations under this Subscription
                      Agreement.

                  

          

           

          
            	 	
                    (b)

                  	
                    There
                      has been no adverse material change to the Corporation (actual,
                      proposed
                      or prospective, whether financial or otherwise) in the business,
                      affairs,
                      operations, assets, liabilities (contingent or otherwise) or
                      shareholders’
                      equity of the Corporation since September 30, 2006, which has
                      not been
                      generally disclosed to the public and, in all material respects,
                      the
                      business of the Corporation has been carried on in the usual
                      and ordinary
                      course consistent with past practice since September 30, 2006
                      to the
                      extent that such past practice is consistent with the current
                      business
                      direction of the Corporation.

                  

          

           

          
            	 	
                    (c)

                  	
                    This
                      Subscription Agreement has been duly authorized, executed and
                      delivered by
                      the Corporation and constitutes a valid and binding obligation
                      of the
                      Corporation enforceable against the Corporation in accordance
                      with its
                      terms.

                  

          

           

          
            	 	
                    (d)

                  	
                    As
                      of the close of business on November 15, 2006, the authorized
                      capital of
                      the Corporation consists of 60,000,000 shares of common stock
                      and
                      5,000,000 shares of preferred stock, of which 23,504,852 shares
                      of common stock are issued and outstanding as fully paid and
                      non-assessable.

                  

          

           

          
            	 	
                    (e)

                  	
                    The
                      common stock currently trades in the Over-the-Counter market
                      and is quoted
                      on the Bulletin Board system maintained by the National Association
                      of
                      Securities Dealers, Inc. and no order ceasing or suspending
                      trading in any
                      securities of the Corporation or the trading of any of the
                      Corporation's
                      issued securities is currently outstanding and no proceedings
                      for such
                      purpose are, to the knowledge of the Corporation, pending or
                      threatened.

                  

          

          
            
              
              

            

            
              -
                3
                -

              
                

              

            

            
              
              

            

          

           

          
            	 	
                    (f)

                  	
                    The
                      Corporation is not, nor to the knowledge of the Corporation,
                      is any other
                      person in default in the observance or performance of any term,
                      covenant
                      or obligation to be performed by it under any debt instrument,
                      material
                      agreement, contract, agreement or arrangement to which the
                      Corporation is
                      a party and no event has occurred which with notice or lapse
                      of time or
                      both would constitute such a default and all such contracts,
                      agreements
                      and arrangements are in good
                      standing.

                  

          

           

          
            	 	
                    (g)

                  	
                    The
                      Corporation and its subsidiaries hold either freehold title,
                      mining
                      leases, mining claims or other conventional property, proprietary
                      or
                      contractual interests or rights, recognized in the jurisdiction
                      in which a
                      particular property is located in respect of the ore bodies
                      and minerals
                      located in properties in which the Corporation and its subsidiaries
                      have
                      an interest under valid, subsisting and enforceable title documents
                      or
                      other recognized and enforceable agreements or instruments,
                      which are
                      currently sufficient to permit the Corporation and its subsidiaries
                      to
                      explore the minerals relating thereto, and all such property,
                      leases or
                      claims and all property, leases or claims in which the Corporation
                      or the
                      subsidiaries have any interest or right have been validly located
                      and
                      recorded in accordance with all applicable laws and are valid
                      and
                      subsisting.

                  

          

           

          
            	 	
                    (h)

                  	
                    There
                      are no actions, suits, proceedings or inquiries pending or,
                      to the
                      knowledge of the Corporation threatened against or affecting
                      the
                      Corporation or its subsidiaries or their property or assets
                      at law or in
                      equity or before or by any federal, municipal or other governmental
                      department, commission, board, bureau, agency or
                      instrumentality.

                  

          

           

          
            	 	
                    (i)

                  	
                    There
                      is and has been no failure on the part of the Corporation or
                      any of the
                      Corporation's directors or officers, in their capacities as
                      such, to
                      comply in all material respects with any applicable provision
                      of the
                      Sarbanes-Oxley Act of 2002 and the rules and regulations promulgated
                      in
                      connection therewith, including Section 402 related to loans
                      and Sections
                      302 and 906 related to
                      certifications.

                  

          

           

          
            	 	
                    (j)

                  	
                    Promptly
                      following the closing of the purchase and sale of the shares
                      contemplated
                      by its Subscription Agreement, the Corporation shall prepare
                      and file with
                      the SEC a registration statement on Form S-l or SB-2 (or, if
                      Form S-l or
                      SB-2 is not then available to the Corporation, on such form
                      of
                      registration statement as is then available to effect a registration
                      for
                      resale of the Shares), covering the resale of the Shares (including
                      any
                      Shares issuable as damages as described in Section 3.1(m) below).
                      Such
                      Registration Statement also shall cover, to the extent allowable
                      under the
                      1933 Act and the rules promulgated thereunder (including Rule
                      416), such
                      indeterminate number of additional shares of Common Stock resulting
                      from
                      stock splits, stock dividends or similar transactions with
                      respect to the
                      Shares. 

                  

          

           

          
            	 	
                    (k)

                  	
                    The
                      Corporation shall pay all expenses associated with the registration,
                      including filing and printing fees, counsel and accounting
                      fees and
                      expenses, costs associated with clearing the Shares for sale
                      under
                      applicable state securities
                      laws.

                  

          

          
            
              
              

            

            
              -
                4
                -

              
                

              

            

            
              
              

            

          

           

          
            	 	
                    (l)

                  	
                    The
                      Corporation shall use its commercially reasonable efforts to
                      have the
                      Registration Statement declared effective by the SEC as soon
                      as
                      practicable. The Corporation shall notify the Subscriber by
                      facsimile or
                      e-mail as promptly as practicable, and in any event, within
                      three (3)
                      business days, after the Registration Statement is declared
                      effective and
                      shall simultaneously provide the Subscriber with copies of
                      any related
                      prospectus to be used in connection with the sale or other
                      disposition of
                      the securities covered thereby.

                  

          

           

          
            	 	
                    (m)

                  	
                    In
                      the event the Registration Statement is not declared effective
                      by the SEC
                      by a date which is six months from the Closing Date, the Corporation
                      shall
                      issue to the Subscriber as liquidated damages and not as a
                      penalty, that
                      number of shares of common stock that is equal to 10% of the
                      Shares.
                      

                  

          

           

          ARTICLE
            4-
            ACKNOWLEDGEMENTS, COVENANTS, REPRESENTATIONS AND WARRANTIES OF THE
            SUBSCRIBER

           

          
            	
                    4.1

                  	
                    Acknowledgements,
                      Representations, Warranties and Covenants of the
                      Subscriber

                  

          

           

          The
            Subscriber, on its own behalf and, if applicable, on behalf of others
            for whom
            it is acting hereunder, hereby represents and warrants to, and covenants
            with,
            the Corporation as follows and acknowledges that the Corporation is relying
            on
            such representations and warranties in connection with the transactions
            contemplated herein:

           

          
            	 	
                    (a)

                  	
                    The
                      Subscriber certifies that it is resident in the jurisdiction
                      set out on
                      the face page of this Subscription Agreement. Such address
                      was not created
                      and is not used solely for the purpose of acquiring the Shares
                      and the
                      Subscriber was solicited to purchase in such jurisdiction.
                      

                  

          

           

          
            	 	
                    (b)

                  	
                    If
                      the Subscriber is not a person in the United States or a U.S.
                      Person (as
                      defined in Rule 902(k) of Regulation S under the U.S. Securities
                      Act) or
                      not purchasing the Shares on behalf of a person in the United
                      States or a
                      U.S. Person:

                  

          

           

          
            	 	
                    (i)

                  	
                    neither
                      the Subscriber nor any disclosed principal is a U.S. Person
                      nor
                      subscribing for the Shares for the account of a U.S. Person
                      or for resale
                      in the United States and the Subscriber confirms that the Shares
                      have not
                      been offered to the Subscriber in the United States and that
                      this
                      Subscription Agreement has not been signed in the United
                      States;

                  

          

           

          
            	 	
                    (ii)

                  	
                    the
                      Subscriber acknowledges that the Shares have not been registered
                      under the
                      U.S. Securities Act of 1933, as amended (the “Securities Act”) and may not
                      be offered or sold in the United States or to a U.S. Person
                      unless the
                      securities are registered under the U.S. Securities Act and
                      all applicable
                      state securities laws or an exemption from such registration
                      requirements
                      is available, and further agrees that hedging transactions
                      involving such
                      securities may not be conducted unless in compliance with the
                      U.S.
                      Securities Act; 

                  

          

          
            
              
              

            

            
              -
                5
                -

              
                

              

            

            
              
              

            

          

           

          
            	 	
                    (iii)

                  	
                    the
                      Subscriber and if applicable, the disclosed principal for whom
                      the
                      Subscriber is acting, understands that the Corporation is the
                      seller of
                      the Shares and underlying securities and that, for purposes
                      of Regulation
                      S, a "distributor” is any underwriter, dealer or other person who
                      participates, pursuant to a contractual arrangement in the
                      distribution of
                      securities sold in reliance on Regulation S and that an "affiliate"
                      is any
                      partner, officer, director or any person directly or indirectly
                      controlling, controlled by or under common control with any
                      person in
                      question. Except as otherwise permitted by Regulation S, the
                      Subscriber
                      and if applicable, the disclosed principal for whom the Subscriber
                      is
                      acting, agrees that it will not, during a one year distribution
                      compliance
                      period, act as a distributor, either directly or through any
                      affiliate, or
                      sell, transfer, hypothecate or otherwise convey the Shares
                      or underlying
                      securities other than to a non-U.S.
                      Person;

                  

          

           

          
            	 	
                    (iv)

                  	
                    the
                      Subscriber and if applicable, the disclosed principal for whom
                      the
                      Subscriber is acting, acknowledges and understands that in
                      the event the
                      Shares are offered, sold or otherwise transferred by the Subscriber
                      or if
                      applicable, the disclosed principal for whom the Subscriber
                      is acting, to
                      a non-U.S Person prior to the expiration of a one year distribution
                      compliance period, the purchaser or transferee must agree not
                      to resell
                      such securities except in accordance with the provisions of
                      Regulation S,
                      pursuant to registration under the U.S. Securities Act, or
                      pursuant to an
                      available exemption from registration; and must further agree
                      not to
                      engage in hedging transactions with regard to such securities
                      unless in
                      compliance with the U.S. Securities Act;
                      and

                  

          

           

          
            	 	
                    (v)

                  	
                    neither
                      the Subscriber nor any disclosed principal will offer, sell
                      or otherwise
                      dispose of the Shares in the United States or to a U.S. Person
                      unless (A)
                      the Corporation has consented to such offer, sale or disposition
                      and such
                      offer, sale or disposition is made in accordance with an exemption
                      from
                      the registration requirements under the U.S. Securities Act
                      and the
                      securities laws of all applicable states of the United States
                      or (B) the
                      SEC has declared effective a registration statement in respect
                      of such
                      securities.

                  

          

           

          
            	 	
                    (c)

                  	
                    If
                      the Subscriber is a person in the United States or a U.S. person,
                      or is
                      purchasing the Shares on behalf of a person in the United States
                      or a U.S.
                      person, the Subscriber:

                  

          

          

          
            	
                  	(i)	
                    or
                      each beneficial purchaser as to which the Subscriber exercises
                      sole
                      investment discretion for whom it is purchasing, is acquiring
                      the Shares
                      to be held for investment only and not with a view to resale,
                      distribution
                      or other disposition of the Shares and without any present
                      intention of
                      selling, offering to sell or otherwise disposing of or distributing
                      such
                      securities, or any portion thereof, in any transaction other
                      than a
                      transaction complying with the registration requirements of
                      the U.S.
                      Securities Act and applicable Blue Sky Laws, or pursuant to
                      an exemption
                      therefrom;

                  

          

          

          
            	
                  	(ii)	
                    is
                      aware that the Shares have not been registered under the U.S.
                      Securities
                      Act and the sale contemplated hereby is being made in reliance
                      on a
                      private placement exemption to Accredited Investors (as defined
                      in Rule
                      501 of the Securities Act);

                  

          

          
            
              
              

            

            
              -
                6
                -

              
                

              

            

            
              
              

            

          

          

          
            	
                  	(iii)	
                    the
                      Subscriber is an Accredited Investor within the meaning of
                      Rule 501 of
                      Regulation D of the Securities Act;

                  

          

          

          
            	
                  	(iv)	
                    or
                      each beneficial purchaser as to which the Subscriber exercises
                      sole
                      investment discretion for whom it is purchasing is an Accredited
                      Investor;

                  

          

          

          
            	
                  	(v)	
                    if
                      the undersigned is the Subscriber, he or she is making the
                      above statement
                      based on personal knowledge of his or her financial situation
                      and has
                      reviewed personal financial documentation with an accountant,
                      financial
                      advisor or other financial professional, if necessary, to determine
                      that
                      the above statement is true; or (b) if the undersigned is other
                      than the
                      Subscriber, he or she is making the above statement based on
                      a review, if
                      necessary, of the financial statements of the Subscriber for
                      the most
                      recently completed financial year and any interim financial
                      statements
                      prepared since the end of such financial year and has undertaken
                      such
                      other review and due diligence necessary to determine and certify
                      that the
                      Subscriber is an "Accredited Investor" as that term is defined
                      in Rule
                      501(a) of the U.S. Securities Act; 

                  

          

          

          
            	
                  	(vi)	
                    is
                      not purchasing the Shares as a result of any “general solicitation or
                      general advertising” (as such term is defined in Regulation D), including
                      any advertisement, article, notice or other communication published
                      in any
                      newspaper, magazine, or similar media or broadcast over television
                      or
                      radio, or any seminar or meeting where the attendees have been
                      invited by
                      general solicitation or general
                      advertising;

                  

          

           

          
            	
                  	(vii)	
                    understands
                      that if it decides to offer, sell, pledge or otherwise transfer
                      the
                      Shares, and, prior to the Registration Statement becoming effective,
                      the
                      Common Shares may be offered, sold or otherwise transferred
                      only: (A) to
                      the Corporation; (B) in compliance with Rule 904 under Regulation
                      S, (C)
                      in accordance with Rule 144 or Rule 144A under the U.S. Securities
                      Act, if
                      available, and in compliance with applicable local laws and
                      regulations,
                      or (D) in a transaction that does not otherwise require registration
                      under
                      the U.S. Securities Act or any applicable state securities
                      laws if an
                      opinion of counsel, of recognized standing reasonably satisfactory
                      to the
                      Corporation has been provided to the Corporation to that effect;
                      and

                  

          

          

          
            	
                  	(viii)	
                    consents
                      to the Corporation making a notation on it records or giving
                      instructions
                      to any transfer agent of the Corporation in order to implement
                      the
                      restrictions on transfers set forth and described herein, and
                      the
                      Subscriber understands and acknowledges that the Corporation
                      may instruct
                      the registrar and transfer agent of the Corporation not to
                      record a
                      transfer without first being notified by the Corporation that
                      it is
                      satisfied that such transfer is exempt from or not subject
                      to registration
                      under the U.S. Securities Act.

                  

          

           

          
            	 	
                    (d)

                  	
                    If
                      the Subscriber or any disclosed principal is not a person described
                      in
                      paragraphs 4.1(b) or 4.1(c) above, the subscription for the
                      Shares by the
                      Subscriber does not contravene any of the applicable securities
                      legislation in the jurisdiction in which the Subscriber resides
                      and does
                      not give rise to any obligation of the Corporation to prepare
                      and file a
                      prospectus or similar document or to register the Shares or
                      to be
                      registered with, or to file any report or notice with, any
                      governmental or
                      regulatory authority.

                  

          

          
            
              
              

            

            
              -
                7
                -

              
                

              

            

            
              
              

            

          

           

          
            	 	
                    (e)

                  	
                    The
                      execution and delivery of this Subscription Agreement, the
                      performance and
                      compliance with the terms hereof, the subscription for the
                      Shares and the
                      completion of the transactions described herein by the Subscriber
                      will not
                      result in any material breach of, or be in conflict with, or
                      constitute a
                      material default under, or create a state of facts that, after
                      notice or
                      lapse of time, or both, would constitute a material default
                      under any term
                      or provision of the constating documents, by-laws or resolutions
                      of the
                      Subscriber, the securities laws or any other laws applicable
                      to the
                      Subscriber, any agreement to which the Subscriber is a party,
                      or any
                      judgment, decree, order, statute, rule or regulation applicable
                      to the
                      Subscriber.

                  

          

           

          
            	 	
                    (f)

                  	
                    The
                      Subscriber is subscribing for the Shares as principal for its
                      own account
                      and not for the benefit of any other person (within the meaning
                      of
                      applicable securities laws). If it is subscribing as agent
                      for a disclosed
                      principal, it has disclosed the name of the disclosed principal
                      on the
                      face page of this Subscription Agreement and acknowledges that
                      the
                      Corporation may be required by law to disclose to certain regulatory
                      authorities the identity of each disclosed principal for whom
                      the
                      Subscriber is acting.

                  

          

           

          
            	 	
                    (g)

                  	
                    In
                      the case of a subscription for the Shares by the Subscriber
                      acting as
                      trustee or agent for a fully managed account or as agent for
                      a disclosed
                      principal, the Subscriber is duly authorized to execute and
                      deliver this
                      Subscription Agreement and all other necessary documentation
                      in connection
                      with such subscription on behalf of the fully managed account
                      or disclosed
                      principal, as applicable and this Subscription Agreement has
                      been duly
                      authorized, executed and delivered by or on behalf of and constitutes
                      a
                      legal, valid and binding agreement of, the fully managed account
                      or
                      disclosed principal, as applicable.

                  

          

           

          
            	 	
                    (h)

                  	
                    In
                      the case of a subscription for the Shares by the Subscriber
                      acting as
                      principal, this Subscription Agreement has been duly authorized,
                      executed
                      and delivered by, and constitutes a legal, valid and binding
                      agreement of,
                      the Subscriber. This Subscription Agreement is enforceable
                      in accordance
                      with its terms against the
                      Subscriber.

                  

          

           

          
            	 	
                    (i)

                  	
                    If
                      the Subscriber is:

                  

          

           

          
            	 	
                    (i)

                  	
                    a
                      corporation, the Subscriber is duly incorporated and is validly
                      subsisting
                      under the laws of its jurisdiction of incorporation and has
                      all requisite
                      legal and corporate power and authority to execute and deliver
                      this
                      Subscription Agreement, to subscribe for the Shares as contemplated
                      herein
                      and to carry out and perform its obligations under the terms
                      of this
                      Subscription Agreement;

                  

          

           

          
            	 	
                    (ii)

                  	
                    a
                      partnership, syndicate or other form of unincorporated organization,
                      the
                      Subscriber has the necessary legal capacity and authority to
                      execute and
                      deliver this Subscription Agreement and to observe and perform
                      its
                      covenants and obligations hereunder and has obtained all necessary
                      approvals in respect thereof; or

                  

          

           

          
            	 	
                    (iii)

                  	
                    an
                      individual, the Subscriber is of the full age of majority and
                      is legally
                      competent to execute this Subscription Agreement and to observe
                      and
                      perform his or her covenants and obligations
                      hereunder.

                  

          

          
            
              
              

            

            
              -
                8
                -

              
                

              

            

            
              
              

            

          

           

          
            	
                  	(j)	
                    The
                      Subscriber is not, with respect to the Corporation or any of
                      its
                      affiliates, a “control person” as defined under the Securities Act and the
                      purchase of the Shares hereunder and the exercise or deemed
                      exercise of
                      the Shares will not result in the Subscriber becoming a control
                      person.

                  

          

           

          
            	 	
                    (k)

                  	
                    The
                      Subscriber has been advised to consult its own legal advisors
                      with respect
                      to trading in the Shares, and with respect to the resale restrictions
                      imposed by the securities laws of the jurisdiction in which
                      the Subscriber
                      resides and other applicable securities laws, and acknowledges
                      that no
                      representation has been made respecting the applicable hold
                      periods
                      imposed by the securities laws or other resale restrictions
                      applicable to
                      such securities that restrict the ability of the Subscriber
                      (or others for
                      whom it is contracting hereunder) to resell such securities,
                      that the
                      Subscriber (or others for whom it is contracting hereunder)
                      is solely
                      responsible to find out what these restrictions are and the
                      Subscriber is
                      solely responsible (and neither the Corporation nor the Agent
                      are in any
                      way responsible) for compliance with applicable resale restrictions
                      and
                      the Subscriber is aware that it (or beneficial persons for
                      whom it is
                      contracting hereunder) may not be able to resell such securities
                      except in
                      accordance with limited exemptions under the securities laws
                      and other
                      applicable securities laws.

                  

          

           

          
            	 	
                    (l)

                  	
                    The
                      Subscriber is not purchasing Shares with knowledge of material
                      information
                      concerning the Corporation that has not been generally
                      disclosed.

                  

          

           

          
            	 	
                    (m)

                  	
                    No
                      person has made any written or oral
                      representations:

                  

          

           

          
            	 	
                    (i)

                  	
                    that
                      any person will resell or repurchase the Shares;
                      

                  

          

           

          
            	 	
                    (ii)

                  	
                    that
                      any person will refund the Subscription Amount;
                      or

                  

          

           

          
            	 	
                    (iii)

                  	
                    as
                      to the future price or value of the
                      Shares.

                  

          

           

          
            	 	
                    (n)

                  	
                    There
                      are risks associated with the purchase of and investment in
                      the Shares and
                      the Subscriber has such knowledge and experience that it is
                      capable of
                      evaluating the merits and risks of an investment in the Shares
                      and fully
                      understands the restrictions on resale of the Shares and is
                      capable of
                      bearing the economic risk of the
                      investment.

                  

          

           

          
            	 	
                    (o)

                  	
                    The
                      funds representing the Subscription Amount that will be advanced
                      by the
                      Subscriber to the Corporation hereunder, as applicable, will
                      not represent
                      proceeds of crime for the purposes of United States anti-terrorist
                      legislation and the Subscriber acknowledges that the Corporation
                      may in
                      the future be required by law to disclose the Subscriber's
                      name and other
                      information relating to this Subscription Agreement and the
                      Subscriber's
                      subscription hereunder pursuant to such legislation. To the
                      best of its
                      knowledge (a) none of the Subscription Amount to be provided
                      by the
                      Subscriber (i) has been or will be derived from or related
                      to any activity
                      that is deemed criminal under the law of the United States
                      of America, or
                      any other jurisdiction, or (ii) is being tendered on behalf
                      of a person or
                      entity who has not been identified to the Subscriber, and (b)
                      it shall
                      promptly notify the Corporation if the Subscriber discovers
                      that any of
                      such representations ceases to be true, and to provide the
                      Corporation
                      with appropriate information in connection
                      therewith.

                  

          

           

          
            	 	
                    (p)

                  	
                    No
                      securities commission, agency, governmental authority, regulatory
                      body,
                      stock exchange or other regulatory body or similar regulatory
                      authority
                      has reviewed or passed on the merits of the
                      Shares.

                  

          

          
            
              
              

            

            
              -
                9
                -

              
                

              

            

            
              
              

            

          

           

          
            	 	
                    (q)

                  	
                    The
                      Shares shall be subject to statutory resale restrictions under
                      the
                      securities laws of the jurisdiction in which the Subscriber
                      resides and
                      under other applicable securities laws, and the Subscriber
                      covenants that
                      it will not resell the Shares except in compliance with such
                      laws and the
                      Subscriber acknowledges that it is solely responsible (and
                      in no way is
                      the Corporation responsible) for such
                      compliance.

                  

          

           

          
            	 	
                    (r)

                  	
                    The
                      certificates representing the Shares, if issued prior to the
                      Registration
                      Statement becoming effective, and all certificates issued in
                      substitution
                      or exchange thereof, will bear a legend substantially in the
                      following
                      form:

                  

          

           

          THE
            SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE UNITED
            STATES
            SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). THESE SECURITIES MAY
            BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (A) TO GOLD RESOURCE
            CORPORATION (“GRC”), (B) OUTSIDE THE UNITED STATES IN COMPLIANCE WITH RULE 904
            OF REGULATION S UNDER THE SECURITIES ACT, (C) IN COMPLIANCE WITH RULE
            144 OR
            144A THEREUNDER, IF AVAILABLE, AND IN ACCORDANCE WITH APPLICABLE STATE
            SECURITIES LAWS, (D) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT,
            OR (E) IN
            A TRANSACTION THAT DOES NOT REQUIRE REGISTRATION UNDER THE SECURITIES
            ACT OR ANY
            APPLICABLE STATE SECURITIES LAWS, AND THE HOLDER HAS, PRIOR TO SUCH SALE,
            FURNISHED TO GRC AN OPINION OF COUNSEL OR OTHER EVIDENCE OF EXEMPTION,
            IN EITHER
            CASE REASONABLY SATISFACTORY TO GRC. HEDGING TRANSACTIONS INVOLVING THESE
            SECURITIES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE U.S. SECURITIES
            ACT.

           

          
            	 	
                    (s)

                  	
                    The
                      Corporation is relying on the representations, warranties and
                      covenants
                      contained herein to determine the Subscriber’s eligibility to subscribe
                      for the Shares under applicable securities laws and the Subscriber
                      agrees
                      to indemnify the Corporation and each of its directors, officers
                      and
                      agents against all losses, claims, costs, expenses, damages
                      or liabilities
                      that any of them may suffer or incur as a result of or arising
                      from
                      reliance thereon. The Subscriber undertakes to immediately
                      notify the
                      Corporation of any change in any statement or other information
                      relating
                      to the Subscriber set forth in such applicable Schedules which
                      takes place
                      prior to the Closing Time.

                  

          

           

          
            	 	
                    (t)

                  	
                    The
                      Subscriber is responsible for obtaining such legal and tax
                      advice as it
                      considers appropriate in connection with the execution, delivery
                      and
                      performance of this Subscription Agreement and the transactions
                      contemplated under this Subscription
                      Agreement.

                  

          

           

          
            	 	
                    (u)

                  	
                    There
                      are risks associated with the purchase of the Shares and the
                      Subscriber
                      may lose his, her or its entire investment.

                  

          

          
            
              
              

            

            
              -
                10
                -

              
                

              

            

            
              
              

            

          

           

          
            	 	
                    (v)

                  	
                    The
                      Subscriber has reviewed (i) the prospectus of the Corporation
                      dated May
                      15, 2006; (ii) the quarterly reports on Form 10-QSB for the
                      quarters ended
                      June 30 and September 30, 2006; (iii) all other reports filed
                      with the
                      United States Securities and Exchange Commission by the Corporation,
                      each
                      of which is available from the Public Reference Room of the
                      SEC or on its
                      web site at http://www.sec.gov.
                      The Subscriber's decision to purchase the Shares was based
                      solely on the
                      representations in this Subscription Agreement and the filings
                      of the
                      Corporation with the SEC itemized immediately above, and no
                      person or
                      entity has made any representations or warranties excepts as
                      set forth
                      herein.

                  

          

           

          
            	 	
                    (w)

                  	
                    This
                      Subscription Agreement requires the Subscriber to provide certain
                      personal
                      information to the Corporation. Such information is being collected
                      by the
                      Corporation for the purposes of completing the offering, which
                      includes,
                      without limitation, determining the Subscriber’s eligibility to purchase
                      the Shares under the securities laws, preparing and registering
                      certificates representing Shares to be issued to the Subscriber
                      and
                      completing filings required by any stock exchange or securities
                      regulatory
                      authority. The Subscriber’s personal information may be disclosed by the
                      Corporation to: (a) stock exchanges or securities regulatory
                      authorities
                      and (b) any of the other parties involved in the offering,
                      including legal
                      counsel and may be included in record books in connection with
                      the
                      offering. By executing this Subscription Agreement, the Subscriber
                      is
                      deemed to be consenting to the foregoing collection, use and
                      disclosure of
                      the Subscriber’s personal information. The Subscriber also consents to the
                      filing of copies or originals of this Subscription Agreement
                      as may be
                      required to be filed with any stock exchange or securities
                      regulatory
                      authority in connection with the transactions contemplated
                      hereby. The
                      Subscriber represents and warrants that it has the authority
                      to provide
                      the consents and acknowledgements set out in this paragraph
                      on behalf of
                      each disclosed principal.

                  

          

           

          ARTICLE
            5-
            SURVIVAL OF REPRESENTATIONS, WARRANTIES AND COVENANTS

           

          
            	
                    5.1

                  	
                    Survival
                      of Representations, Warranties and Covenants of the
                      Corporation

                  

          

           

          The
            representations, warranties and covenants of the Corporation contained
            in this
            Subscription Agreement shall survive the Closing and, notwithstanding
            such
            Closing or any investigation made by or on behalf of the Subscriber with
            respect
            thereto, shall continue in full force and effect for the benefit of the
            Subscriber.

           

          
            	
                    5.2

                  	
                    Survival
                      of Representations, Warranties and Covenants of the
                      Subscriber

                  

          

           

          The
            representations, warranties and covenants of the Subscriber contained
            in this
            Subscription Agreement shall survive the Closing and, notwithstanding
            such
            Closing or any investigation made by or on behalf of the Corporation
            with
            respect thereto and notwithstanding any subsequent disposition by the
            Subscriber
            of any of the Shares.

           

          ARTICLE
            6
            - MISCELLANEOUS

           

          
            	
                    6.1

                  	
                    Further
                      Assurances

                  

          

           

          Each
            of
            the parties hereto upon the request of each of the other parties hereto,
            whether
            before or after the Closing Time, shall do, execute, acknowledge and
            deliver or
            cause to be done, executed, acknowledged and delivered all such further
            acts,
            deeds, documents, assignments, transfers, conveyances, powers of attorney
            and
            assurances as may reasonably be necessary or desirable to complete the
            transactions contemplated herein.

          
            
              
              

            

            
              -
                11
                -

              
                

              

            

            
              
              

            

          

           

          
            	
                    6.2

                  	
                    Costs
                      and Expenses

                  

          

           

          All
            costs
            and expenses (including, without limitation, the fees and disbursements
            of legal
            counsel) incurred in connection with this Subscription Agreement and
            the
            transactions herein contemplated shall be paid and borne by the party
            incurring
            such costs and expenses.

           

          
            	
                    6.3

                  	
                    Applicable
                      Law

                  

          

           

          This
            Subscription Agreement shall be construed and enforced in accordance
            with, and
            the rights of the parties shall be governed by, the laws of the State
            of
            Colorado and the laws of the United States applicable therein. Any and
            all
            disputes arising under this Subscription Agreement, whether as to
            interpretation, performance or otherwise, shall be subject to the non-exclusive
            jurisdiction of the courts of the State of Colorado and each of the parties
            hereto hereby irrevocably attorns to the jurisdiction of the courts of
            such
            province.

           

          
            	
                    6.4

                  	
                    Entire
                      Agreement

                  

          

           

          This
            Subscription Agreement constitutes the entire agreement between the parties
            with
            respect to the transactions contemplated herein and cancels and supersedes
            any
            prior understandings, agreements, negotiations and discussions between
            the
            parties. There are no representations, warranties, terms, conditions,
            undertakings or collateral agreements or understandings, express or implied,
            between the parties hereto other than those expressly set forth in this
            Subscription Agreement or in any such agreement, certificate, affidavit,
            statutory declaration or other document as aforesaid. This Subscription
            Agreement may not be amended or modified in any respect except by written
            instrument executed by each of the parties hereto.

           

          
            	
                    6.5

                  	
                    Counterparts

                  

          

           

          This
            Subscription Agreement may be executed in two or more counterparts, each
            of
            which shall be deemed to be an original and all of which together shall
            constitute one and the same Subscription Agreement. Counterparts may
            be
            delivered either in original or faxed form and the parties adopt any
            signature
            received by a receiving fax machine as original signatures of the
            parties.

           

          
            	
                    6.6

                  	
                    Assignment

                  

          

           

          This
            Subscription Agreement may not be assigned by either party except with
            the prior
            written consent of the other parties hereto.

           

          
            	
                    6.7

                  	
                    Enurement

                  

          

           

          This
            Subscription Agreement shall enure to the benefit of and be binding upon
            the
            parties hereto and their respective heirs, executors, successors (including
            any
            successor by reason of the amalgamation or merger of any party), administrators
            and permitted assigns.

          
            
              
              

            

            
              -
                12
                -

              
                

              

            

            
              
              

            

          

           

           

          
            	
                    6.8

                  	
                    Language

                  

          

           

          It
            is the
            express wish of the Subscriber that the Subscription Agreement and any
            related
            documentation be drawn up in English. 

           

          

           

          The
            Corporation hereby accepts the subscription for Shares as set forth on
            the face
            page of this Subscription Agreement on the terms and conditions contained
            in the
            Subscription Agreement this __ day of ________________, 2006.

          

          GOLD
            RESOURCE CORPORATION

          

           

          By:   /s/
            ______________________           

           Authorized
            Signing Officer 

           

          -
            13
            -

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