Document:

VOTING
RIGHTS PROXY AGREEMENT

    投票权代理协议

    

    This
Voting Rights Proxy Agreement (the “Agreement”) is
entered into in Guangzhou City, Guangdong Province, People’s Republic of China
(“PRC” or
“China”) as of
August 25, 2010 by and among Guangzhou Xiangguang Corporate Management Co., Ltd
(“Party A”) and
the undersigned shareholder (the “Shareholder”) of
Huangjiang Jintai Mining Co., Ltd.(“Jintai Mining”).  Party A and the
Shareholder are each referred to in this Agreement as a “Party” and
collectively as the “Parties”. Jintai
Mining is made a party to this Agreement for the purpose of acknowledging the
Agreement.

    

    本《投票权代理协议》(“本协议”)于2010年8月25日在中华人民共和国(“PRC”或“中国”)广东省广州市,由广州祥光企业管理有限公司(“甲方”)以及以下签字的环江金泰矿业有限责任公司(“金泰矿业”)股东(“股东”)签署。甲方和股东在本协议中单独称为“一方”,统称为“各方”。出于对本协议的承认之目的,金泰矿业被作为本协议的一方。

    

    RECITALS

    前言

    

    1. 
           Party A, a
company incorporated in the PRC as a wholly foreign owned enterprise, with its
principle business as management consulting for metal mining industry and metal
trading;

    

    甲方为根据中国法律成立的外商独资企业,主要开展金属矿业管理咨询和金属贸易业务;

    

    
      2.             Party
B is a substantially vertically-integrated mining company with exploration,
mining, leaching, smelting and further processing operations at the following
four operating branches:

    

    (a) Shangchao
Zinc-lead Mine, which is primarily engaged in exploration of a lead-zinc
mine;

    
      
        	 	
                (b)

              	
                Yagang
      Concentrator, which is primarily engaged in processing of zinc-lead
      ores;

              

      

    

    
      
        	 	
                (c)

              	
                Xingda
      Concentrator, which is primarily engaged in processing of zinc-lead ores;
      and

              

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      
        
          	 	
                  (
      d  )

                	
                  Jintai
      Duchuan Smelter, which is primarily engaged in smelting of lead-zinc
      concentrate and production of final products including zinc calcine, zinc
      dust and sand and sulfuric
      acid.

                

        

      

    

    乙方实质上是纵向一体化经营的矿业公司,在下列4个分公司中开展勘探、开采、过滤、冶炼和进一步加工业务。

    
      	 	
              (
      a  )

            	
              上朝铅锌矿,主要从事铅锌矿的勘探;

            

    

    
      
        	 	
                (
      b  )

              	
                雅钢选矿厂,主要铅锌矿的加工;

              

      

    

    
      
        	 	
                (
      c  )

              	
                兴达选矿厂,主要从事铅锌矿的加工;

              

      

    

    
      	 	
              (
      d  )

            	
              金泰都川冶炼厂,主要从事铅锌精矿的冶炼和包括锌焙砂、锌粉、砂和硫酸在内的最终产品的生产。

            

    

    

    
      	
              3.

            	
              Party
      A and Party B have entered into a certain Consulting Services Agreement
      dated August 25, 2010 (the “Consulting Services Agreement”) in connection
      with the Business.

            

    

    

    甲方与乙方在2010年8月25日签订了有关业务的《咨询服务协议》(“咨询服务协议”)。

    

    4.           
The Shareholder is the sole shareholder of Jintai Mining, each legally holding
such amount of equity interest of Jintai Mining as set forth on the signature
page of this Agreement and holding 100% of the issued and outstanding equity
interests of Jintai Mining (collectively the “Equity
Interest”).

    

    股东是指金泰矿业的股东,合法以本协议签字页载明的数额持有金泰矿业的股权,且持有金泰矿业的已发行股权的100%(以下统称“股权”)。

    

    5.           
 In connection with the Consulting Services Agreement, the Parties have
entered into a certain Operating Agreement dated August 25, 2010, pursuant to
which the Shareholder now desires to grant to Party A a proxy to vote the Equity
Interest for the maximum period of time permitted by law in consideration of
Party A’s obligations thereunder.

    

    在签署《咨询服务协议》时,各方于2010年8月25日签署一份《经营协议》。根据经营协议,股东现在希望以甲方在经营协议项下的义务为对价,在法律允许的最长期限内授予甲方针对股权的投票代理权。

    

    NOW THEREFORE, the Parties
agree as follows:

    

    鉴于此,各方达成如下协议:

    
      
         

      

      
        -2-

        
          

        

      

      
         

      

    

    1. 
           The
Shareholder hereby agree to irrevocably grant and entrust Party A, for the
maximum period of time permitted by law, with all of their voting rights as
shareholder of Jintai Mining.  Party A shall exercise such rights in
accordance with and within the parameters of the laws of the PRC and the
Articles of Association of Jintai Mining.

    

    股东在此同意不可撤销地授予和委托甲方,在法律允许的最长期限内,行使金泰矿业股东的一切投票权。并且甲方应当根据中国法律和金泰矿业的公司章程行使该权利。

    

    2.     
       Party A may establish and amend rules
to govern how Party A shall exercise the powers granted by the Shareholder
herein, including, but not limited to, the number or percentage of directors of
Party A which shall be required to authorize the exercise of the voting rights
granted by the Shareholder, and Party A shall only proceed in accordance with
such rules.

    

    甲方可以制定或修改适用于有关于甲方应如何行使本协议项下股东所赋予的权力的规则。包括但不限于行使股东所赋予的投票权授权所需的甲方董事人数或比例。甲方应仅根据上述规则开展行动。

    

    3.        
    The Shareholder shall not transfer or cause to be
transferred the Equity Interest to any party (other than Party A or such
designee of Party A).  Each Shareholder acknowledges that it will
continue to perform its obligations under this Agreement even if the Shareholder
no longer holds any part of the Equity Interest.

    

    股东不得转让股权或导致股权转让给除甲方或甲方指定人以外的其他人。每位股东同意:即使任何其他一位或多位股东不再持有股权的任何部分,其也将继续履行本协议项下的义务。

    

    4.         
   This Proxy Agreement has been duly executed by the Parties as
of the date first set forth above, and in the event that a Party is not a
natural person, then such Party’s action has been duly authorized by all
necessary corporate or other action and executed and delivered by such Party’s
duly authorized representatives.  This Agreement shall take effect
upon the later of (i) the execution of this Agreement or (ii) the date that
Party A obtains its business license from appropriate PRC government
authority.

    

    本代理协议由各方于首页载明之日期依法签署,且若一方不是自然人,该协议方的行为已通过一切所需的公司或其他行动获得合法授权,并由该协议方的授权代表签署、交付。本协议应在(i)本协议签订时或(ii)甲方得到相关中国政府部门颁发的营业执照之日两者之中较晚之日生效。

    
      
         

      

      
        -3-

        
          

        

      

      
         

      

    

    

    5.  
          Each Shareholder
represents and warrants to Party A that such Shareholder owns such amount of the
Equity Interest as set forth next to its name on the signature page below, free
and clear of all liens and encumbrances, and such Shareholder has not granted to
any party, other than Party A, a power of attorney or proxy over any of such
amount of the Equity Interest or any of such Shareholder’s rights as a
shareholder of Jintai Mining  Each Shareholder further represents and
warrants that the execution and delivery of this Agreement by such Shareholder
shall not violate any law, regulations, judicial or administrative order,
arbitration award, agreement, contract or covenant applicable to such
Shareholder.

    

    每位股东向甲方陈述和保证:该股东拥有所有在签字页姓名以下显示的股权数额,并且没有任何留置权和权利负担。该股东未向除甲方以外的任何人授予股权的该等数额或作为金泰矿业股东的股东权利方面的授权书或委托书。每位股东进一步陈述和保证:该等股东对本协议的签署和交付不违反适用于股东的法律、法规、司法或行政命令、仲裁裁决、协议、合同或契约。

    

    6.    
        The term of this Agreement is
fifteen (15) years unless an earlier termination occurs in accordance with the
relevant provisions herein or in any other relevant agreements reached by all
parties or when Party A has purchased all or part of the shares of the
Shareholder at Party A’ discretion.  This Agreement may be extended
only upon Party A’s written confirmation prior to the expiration of this
Agreement and the length of the extended term shall be determined by Party
A.

    During
the aforesaid term, if (1) the existence of Party A or Jingtai Mining is
terminated due to the expiration of their respective business license term or by
any other reason, or (2) Party A terminates this Agreement by giving a thirty
(30) day prior written notice to the Shareholder, with or without cause, this
Agreement shall be considered terminated.

    

    除非根据本协议相关规定或各方达成的其他相关协议或甲方已根据其意愿购买了股东的全部或部分股权之终止情况出现而导致本协议提前终止,本协议期限为十五(15)年。本协议仅需甲方于本协议有效期届满前以书面形式确认延期,即可延长,且延长期限应由甲方确定。

    在前述期间,若(1)甲方或金泰矿业因经营期限届满或其他任何原因而终止,或(2)甲方不论以何原因提前30日以书面形式通知股东终止本协议,则本协议应视为终止。

    

    7.       
     Any amendment to and/or rescission of this
Agreement shall be in writing by the Parties.

    

    本协议的任何修改和/或解除都必须由协议各方通过书面形式进行。

    

    8.         
   The execution, validity, creation and performance of this
Agreement shall be governed by the laws of PRC.

    

    本协议的签署、效力、成立和履行应当适用中华人民共和国法律。

    
      
         

      

      
        -4-

        
          

        

      

      
         

      

    

    

    9.  
          This Agreement shall
be executed in four (4) duplicate originals in Chinese and English. The English
version shall prevail in case of conflict. and each Party shall receive one (1)
duplicate original, each of which shall be equally valid.

    

    本协议用英语签署一式四份,若中英文有任何不符,应以英文为准。每一方持有一份,每一份都具有同等效力。

    

    10.           The
Parties agree that in the event a dispute shall arise from this Agreement, the
Parties shall settle their dispute through amicable negotiations.  If
the Parties cannot reach a settlement within 45 days following the negotiations,
the dispute shall be submitted to be determined by arbitration through China
International Economic and Trade Arbitration Commission (“CIETAC”) Shanghai
Branch in accordance with CIETAC arbitration rules.  The determination
of CIETAC shall be conclusively binding upon the Parties and shall be
enforceable in any court of competent jurisdiction.

    

    双方同意,如果因本协议产生争议,各方应通过友好协商解决争议。如果双方不能在协商45日后达成和解,应提交中国国际经济贸易仲裁委员会(贸仲委)上海分会依据贸仲委仲裁规则进行仲裁。贸仲委的仲裁裁决对各方具有最终约束效力,能够在具有管辖权的任何法院执行。

    

    [SIGNATURE
PAGE FOLLOWS]

    [以下是签字页]

    

    [SIGNATURE
PAGE]

    [签字页]

    

    IN WITNESS WHEREOF this
Agreement is duly executed by each Party or its legal
representatives.

    

    兹证明,本协议由各方或者各方的法定代表人合法签订。

    

    PARTY
A:

     

    甲方:                  Guangzhou
Xiangguang Corporate Management Co.,Ltd.

     

    广州祥光企业管理有限公司

     

    Legal/Authorized
Representative:        /s/ Mingxiang
Huang                  

    法定代表人/或被授权人(签字)

    
      
         

      

      
        -5-

        
          

        

      

      
         

      

    

    Name:  Mingxiang
Huang

     

    姓名:   黄明祥

     

    Title:  General
Manager

     

    职务:  总经理

    
      
         

      

      
        -6-

        
          

        

      

      
         

      

    

    SIGNATURE PAGE FOR
SHAREHOLDER

    股东签字页

    

     

    Shareholder
of Huanjiang Jintai Mining  Co., Ltd.

     

    环江金泰矿业有限责任公司的股东:

     

    Huangjiang
Jinteng Mining Co., Ltd.

    环江金腾矿业有限责任公司

    

    Legal/Authorized
Representative:       /s/ Haiping
Luo                  

     

    法定代表人/或被授权人(签字)

     

    Name:
Haiping Luo

     

    姓名: 骆海平

     

    Title:  Deputy
General Manager

     

    职务: 副总经理

     

    Owns 100%
% of Huanjiang Jintai Mining  Co., Ltd.

    持有环江金泰矿业有限责任公司股权100%

    
      
         

      

      
        -7-

        
          

        

      

      
         

      

    

    

    ACKNOWLEDGED
BY:

    认可:

    JINTAI
MINING:

    金泰矿业:

     

    Huanjiang
Jintai Mining  Co., Ltd.

     

    环江金泰矿业有限责任公司:

     

    Legal/Authorized
Representative:       /s/Yuan
Lin                  

     

    法定代表人/或被授权人(签字)

     

    Name:
Yuan Lin

     

    姓名: 林源

     

    Title:
Chairman of the Board

     

    职务:
董事长

    
      
         

      

      
        -8-Unassociated Document

    CONVERTIBLE
NOTE

    

    THIS
NOTE AND THE COMMON SHARES ISSUABLE UPON CONVERSION OF THIS NOTE HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THIS NOTE AND THE
COMMON SHARES ISSUABLE UPON CONVERSION OF THIS NOTE MAY NOT BE SOLD, OFFERED FOR
SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION
STATEMENT AS TO THIS NOTE UNDER SAID ACT OR AN OPINION OF COUNSEL REASONABLY
SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

    

    
      
        	
                Principal
      Amount: $10,000,000.00

              	
                Issue
      Date: August 31,
      2010       

              

      

    

    

    3%
CONVERTIBLE NOTE

    

    FOR VALUE
RECEIVED, Jintai Mining Group, Inc., a Delaware corporation (“Jintai Delaware”)
and Huanjiang Jintai Mining Co., Limited, a limited liability Companies formed
in the People’s Republic of China (“PRC”) (“Huanjiang Jintai”) (collectively the
“Borrowers”), jointly and severally promise to pay to Liwen Hu (the “Holder”),
without demand, the sum of Ten Million Dollars ($10,000,000), with interest
thereon as set forth below, on or before August 31, 2011 (the “Maturity Date”),
if not paid sooner.

    

    This
convertible note (the “Note”) has been entered into pursuant to the terms of a
Subscription Agreement between the Borrowers and the Holder, of even date
herewith (the “Subscription Agreement”), and shall be governed by the terms of
such Subscription Agreement. Unless otherwise separately defined herein, all
capitalized terms used in this Note shall have the same meaning as is set forth
in the Subscription Agreement. The following terms shall apply to this
Note:

    

    ARTICLE
I

    

    GENERAL
PROVISIONS

    

    1.1.         Interest Rate.
Interest payable on this Note shall accrue at the rate of three percent (3%) per
annum and shall be payable on the Maturity Date. Interest will be payable in
cash or, provided an Event of Default, or an event which with the passage of
time or giving of notice could become an Event of Default, has not occurred, at
the election of the Holder, by the delivery of registered shares of Jintai
Delaware’s common stock, par value $0.0001 (the “Common Stock”). The conversion
of accrued interest due on this Note into Common Stock shall be calculated in
accordance with Article II hereof.

    

    1.2.         Payment Grace Period.
The Borrowers shall have a twelve (12) business day grace period to pay any
monetary amounts due under this Note, after which grace period and during the
pendency of an Event of Default (as defined in Article III), a default interest
rate of twelve percent (12%) per annum shall apply to the amounts owed
hereunder.

    

    1.3.         Conversion
Privileges. The conversion rights of the Holder as set forth in Article
II of this Note shall remain in full force and effect immediately from the date
hereof and until the Note is paid in full, regardless of the occurrence of an
Event of Default. The principal amount of the Note and the unpaid interest shall
be payable in full on the Maturity Date, unless previously paid or converted
into Common Stock in accordance with Article II hereof.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    1.4.         Application of
Payments. Payments received by Holder from Borrowers shall be applied
first to outstanding liquidated and other damages, if any, then to accrued but
unpaid interest, and thereafter, to principal.

    

    1.5.         Optional Redemption by
Borrowers. At any time after the date of issuance of this Note, the
Borrowers may deliver a notice to the Holder (an “Optional Redemption Notice”
and the date such notice is deemed delivered hereunder, the “Optional Redemption
Notice Date”) of its irrevocable election to redeem, without penalty, all of the
then outstanding principal amount and interest due on this Note for cash in an
amount equal to 125% of the then outstanding principal and accrued and unpaid
interest hereunder (“Optional Redemption Amount”), on the 30th day
following the Optional Redemption Notice Date (such date, the “Optional
Redemption Date” and such redemption, the “Optional Redemption”). The Optional
Redemption Amount may not be paid prior to the Optional Redemption Date. The
Optional Redemption Amount shall payable in full on the Optional Redemption
Date. The Borrowers covenant that Jintai Delaware will honor all Notices of
Conversion tendered from the time of delivery of the Optional Redemption Notice
through the date all amounts owing thereon are due and paid in
full.

    

    ARTICLE
II

    

    CONVERSION
RIGHTS

    

    The
entire principal amount under this Note and the accrued but unpaid interest
thereon shall convert, or may be converted by the Holder, into shares of Jintai
Delaware’s Common Stock as set forth below.

    

    2.1          Automatic Conversion into
Jintai Delaware’s Common Stock.  In the event that Jintai
Delaware conducts an initial public offering (“IPO”) of its shares of Common
Stock, the outstanding principal amount under this Note, and the accrued and
unpaid interest thereon, as of the date of such IPO shall automatically be
converted into fully paid and non-assessable shares of Common Stock, at the
Conversion Price (as defined in Section 2.2(b) hereof) set forth in Section
2.2(c) below.

    

    2.2          Voluntary Conversion into
Jintai Delaware’s Common Stock.

    

    (a)           The
Holder shall have the right from and after the Issue Date of the issuance of
this Note and then at any time until this Note is fully paid, to convert any
outstanding and unpaid principal amount of this Note, at the election of the
Holder (the date of giving of such notice of conversion being a “Conversion
Date”) into fully paid and non-assessable shares of Common Stock, or any shares
of capital stock of Jintai Delaware into which such Common Stock shall hereafter
be changed or reclassified, at the Conversion Price (as defined in Section
2.2(b) hereof) determined as provided herein. Upon delivery to the Borrowers of
a completed Notice of Conversion, a form of which is annexed as Exhibit A
hereto, Borrowers shall issue and deliver to the Holder within three (3)
business days after the Conversion Date (such third day being the “Delivery
Date”) such number of shares of Common Stock for the portion of the Note
converted in accordance with the foregoing. The number of shares of Common Stock
to be issued upon each conversion of this Note shall be determined by dividing
that portion of the principal and interest of the Note to be converted, by the
Conversion Price.

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    

    (b)           Subject
to adjustment as provided for in Section 2.2(c) hereof, the conversion price per
share of Common Stock shall be the offering price for the Common Stock in the
IPO, provided however that in the event that the IPO is not conducted by Jintai
Delaware within ninety (90) days from the date hereof, the Holder may opt to
convert the unpaid principal of the Notes, and all accrued and unpaid interest
thereon, pursuant to Section 2.2(a) above at a Conversion Price of four dollars
($4.00) per share (the “Conversion Price”).

    

    (c)           The
Conversion Price and the number and kind of shares or other securities to be
issued upon conversion of this Note, shall be subject to adjustment from time to
time upon the happening of certain events while this conversion right remains
outstanding, as follows:

    

    (i.)     
     Merger, Sale of Assets,
etc. If the Borrowers at any time shall consolidate with or merge into or
sell or convey all or substantially all its assets to any other corporation,
this Note, as to the unpaid principal portion thereof and accrued interest
thereon, shall thereafter be deemed to evidence the right to purchase such
number and kind of shares or other securities and property as would have been
issuable or distributable on account of such consolidation, merger, sale or
conveyance, upon or with respect to the securities subject to the conversion or
purchase right, immediately prior to such consolidation, merger, sale or
conveyance. The foregoing provision shall similarly apply to successive
transactions of a similar nature by any such successor or purchaser. Without
limiting the generality of the foregoing, the anti-dilution provisions of this
Section shall apply to such securities of such successor or purchaser or
surviving entity of the surviving corporation after any such consolidation,
merger, sale or conveyance; or

     

    (ii.)     
    Stock Splits, Combinations
and Dividends. If the shares of Common Stock are subdivided or combined
into a greater or smaller number of shares of Common Stock, or if a dividend is
paid on the Common Stock in shares of Common Stock, the Conversion Price shall
be proportionately reduced in case of subdivision of shares or stock dividend or
proportionately increased in the case of combination of shares, in each such
case by the ratio which the total number of shares of Common Stock outstanding
immediately after such event bears to the total number of shares of Common Stock
outstanding immediately prior to such event.

    

    (d)          Whenever
the Conversion Price is adjusted pursuant to Section 2.2(c) above, Jintai
Delaware shall promptly provide notice to the Holder setting forth the
Conversion Price after such adjustment and setting forth a statement of the
facts requiring such adjustment.

    

    (e)           Jintai
Delaware will reserve from its authorized and unissued shares of Common Stock,
the number of shares of Common Stock during the time periods and in the amounts
described in the Subscription Agreement. Jintai Delaware represents that upon
issuance, such shares of Common Stock will be duly and validly issued, fully
paid, and non-assessable.  Jintai Delaware agrees that its issuance of
this Note shall constitute full authority to its officers, agents, and transfer
agents who are charged with the duty of executing and issuing stock
certificates, to execute and issue the necessary certificates for shares of
Jintai Delaware’s Common Stock upon the conversion of this Note.

    

    2.3          No Fractional Shares.
No fractional shares of Common Stock shall be issued upon conversion of this
Note, but an adjustment in cash will be made, in respect of any fraction of a
share (which will be valued based on the Conversion Price) which would otherwise
be issuable upon the surrender of this Note for conversion, and a check in the
amount of the value of such fractional share shall be delivered to the
Holder.

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    

    2.4          Method of Conversion.
This Note may be converted by the Holder in whole or in part, as described
above. Upon partial conversion of this Note, a new Note containing the same date
and provisions of this Note shall, at the request of the Holder, be issued by
the Borrowers to the Holder for the principal balance of this Note and interest
which shall not have been converted or paid.

    

    ARTICLE
III

    

    EVENT
OF DEFAULT

    

    The
occurrence of any of the following events of default (“Event of Default”) shall,
at the option of the Holder hereof, make all sums of principal and accrued
interest then unpaid hereon immediately due and payable, upon demand, without
presentment or grace period, all of which hereby are expressly waived, except as
set forth below:

    

    3.1          Failure to Pay Principal or
Interest. The Borrowers fail to pay any amount when due, and such failure
continues for a period of twelve (12) business days after the due date. The
twelve (12) day period described in this Section 3.1 is the same twelve (12)
business day period described in Section 1.1 hereof.

    

    3.2          Breach of Covenant.
The Borrowers breaches any material covenant or other material term or condition
of the Subscription Agreement, or any other material term or condition of this
Note, in any material respect, and such breach continues for a period of twelve
(12) business days.

    

    3.3          Breach of Representations
and Warranties. Any material representation or warranty of the Borrowers
made herein, in any Transaction Document, or in any agreement, statement or
certificate given in writing pursuant hereto, or in connection herewith or
therewith, shall be false or misleading in any material respect as of the date
made and as of the Closing Date.

    

    3.4          Receiver or Trustee.
The Borrowers shall make an assignment for the benefit of creditors, or apply
for or consent to the appointment of a receiver or trustee for it or for a
substantial part of its property or business, or such a receiver or trustee
shall otherwise be appointed without the consent of the Borrowers, if such
receiver or trustee is not dismissed within forty-five (45) days from
appointment.

    

    3.5          Judgments. Any money
judgment, writ or similar final process amounting to more than $1,000,000 shall
be entered or filed against the Borrowers or any of its property or other
assets, and shall remain unpaid, unvacated, unbonded or unstayed for a period of
forty-five (45) days therefrom.

    

    3.6          Bankruptcy.
Bankruptcy, insolvency, reorganization or liquidation proceedings or other
proceedings for relief under any bankruptcy law, or the issuance of any notice
in relation to such event, shall be instituted by or against the Borrowers and
the same is not dismissed within forty-five (45) days of
initiation.

    

    3.7          Failure to Deliver Common
Stock or Replacement Note. Jintai Delaware’s failure to deliver the
Common Stock to the Holder pursuant to and in the form required by this Note,
or, if required, a replacement Convertible Note, more than ten (10) business
days after the required delivery date of such Common Stock or replacement
Convertible Note.

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    

    3.8          Reservation Default.
The failure by the Borrowers to have reserved for issuance upon conversion of
the Note the number of shares of Common Stock as required to enable the Holder
to convert the Note into Common Stock, as set forth herein, and such failure
continues uncured for a period of 10 business days.

    

    ARTICLE
IV

    

    MISCELLANEOUS

    

    4.1          Failure or Indulgence Not
Waiver. No failure or delay on the part of the Holder hereof in the
exercise of any power, right or privilege hereunder shall operate as a waiver
thereof, nor shall any single or partial exercise of any such power, right or
privilege preclude other or further exercise thereof. All rights and remedies
existing hereunder are cumulative to, and not exclusive of, any other rights or
remedies otherwise available to the Holder.

    

    4.2          Notices. All notices,
demands, requests, consents, approvals, and other communications required or
permitted hereunder shall be in writing and, unless otherwise specified herein,
shall be (a) personally served, (b) deposited in the mail, registered or
certified, return receipt requested, postage prepaid, (c) delivered by a
reputable overnight courier service with charges prepaid, or (d) transmitted by
telegram or facsimile, addressed as set forth below, or to such other address as
such party shall have specified by written notice. Any notice or other
communication required or permitted to be given hereunder shall be deemed
effective (i) upon hand delivery or delivery by telegram or facsimile, with
accurate confirmation generated by the transmitting facsimile machine, at the
address or number designated below (if delivered on a business day during normal
business hours where such notice is to be received), or the first business day
following such delivery (if delivered other than on a business day during normal
business hours where such notice is to be received), (ii) on the first business
day following the date deposited with an overnight courier service with charges
prepaid, or (iii) on the third business day following the date of mailing
pursuant to subpart (b) above, or upon actual receipt of such mailing, whichever
shall first occur. The addresses for such communications shall be:

    

    
      	
               
      

            	
              To
      Companies:

            	
              Jintai
      Mining Group, Inc.,

            

    

    No. 48
Qiaodong Road, Sien Town,

    Huanjiang
County Hechi City,

    Guangxi
Province, China

    Attn:
Kuizhong Cai

    Fax: (86
0778) 220-5911.

    

    Huanjiang
Jintai Mining Co., Limited

    No. 48
Qiaodong Road, Sien Town,

    Huanjiang
County Hechi City,

    Guangxi
Province, China

    Attn:
Kuizhong Cai

    Fax: (86
0778) 220-5911.

    

    With a
copy by fax to: Gersten Savage LLP

    600
Lexington Avenue, 9th Fl.

    New York,
NY 10022

    Attn:
Arthur  Marcus, Esq.

    Phone:
(212) 752-9700

    Fax:
(212) 980-5192

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    

    
      	
               
      

            	
              To
      Subscriber:

            	
              Liwen
      Hu

            

    

    No. 3,
1st
Street, Fengya Garden

    Phoenix
City, Guang Yuan Road East

    Phone: +
86(020) 38377188

    Fax:     +
86(020) 38377228

    

    
      	
            	
              With
      a copy by fax to:

            	
              ____________________

            

    

    ____________________

    ____________________

    Phone:
______________

    Fax:     ______________

    

    4.3          Amendment Provision.
The term “Note” and all reference thereto, as used throughout this instrument,
shall mean this instrument as originally executed, or if later amended or
supplemented, then as so amended or supplemented.

    

    4.4          Assignability. This
Note shall be binding upon the Borrowers and its successors and assigns, and
shall inure to the benefit of the Holder and its successors and assigns. This
Note shall not be divided by the Holder except in increments of not less than
$1,000,000 in principal amount and, in any event, the Holder shall immediately
provide the Borrowers written notice of an assignment of any of the rights under
this Note.

    

    4.5          Cost of Collection.
If default is made in the payment of this Note, Borrowers shall pay the Holder
hereof all reasonable costs of collection, including reasonable attorneys'
fees.

    

    4.6          Governing Law. This
Note shall be governed by, and construed in accordance with, the laws of the
State of New York. Any action brought by either party against the other
concerning the transactions contemplated by this Agreement shall be brought only
in the state or Federal courts located in the State and County of New York. All
parties agree to submit to the jurisdiction of such courts. The prevailing party
shall be entitled to recover from the other party its reasonable attorney’s fees
and costs. In the event that any provision of this Note is held invalid or
unenforceable under any applicable statute or rule of law, then such provision
shall be deemed inoperative to the extent that it may conflict therewith and
shall be deemed modified to conform with such statute or rule of law. Any such
provision which may prove invalid or unenforceable under any law shall not
affect the validity or unenforceability of any other provision of this Note.
Nothing contained herein shall be deemed or operate to preclude the Holder from
bringing suit or taking other legal action against the Borrowers in any other
jurisdiction to collect on the Borrowers's obligations to Holder, to realize on
any collateral or any other security for such obligations, or to enforce a
judgment or other decision in favor of the Holder. This Note shall be deemed an
unconditional obligation of Borrowers for the payment of money and, without
limitation to any other remedies of Holder, may be enforced against Borrowers by
summary proceeding pursuant to New York Civil Procedure Law and Rules Section
3213, or any similar rule or statute in the jurisdiction where enforcement is
sought. For purposes of such rule or statute, any other document or agreement to
which Holder and Borrowers are parties or which the Borrowers deliver to the
Holder, which may be convenient or necessary to determine Holder’s rights
hereunder, or Borrowers’ obligations to Holder are deemed a part of this Note,
whether or not such other document or agreement was delivered together herewith
or was executed apart from this Note.

     

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    4.7          Maximum Payments.
Nothing contained herein shall be deemed to establish or require the payment of
a rate of interest or other charges in excess of the maximum rate permitted by
applicable law. In the event that the rate of interest required to be paid or
other charges hereunder exceed the maximum rate permitted by applicable law, any
payments in excess of such maximum rate shall be credited against amounts owed
by the Borrowers to the Holder.

    

    4.8          Shareholder Status.
The Holder shall not have rights as a shareholder of Jintai Delaware with
respect to unconverted portions of this Note. However, the Holder will have all
the rights of a shareholder of the Borrowers with respect to the shares of
Common Stock to be received by Holder after delivery by the Holder of a
Conversion Notice to the Borrowers.

    

    [THIS
SPACE INTENTIONALLY LEFT BLANK]

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    IN WITNESS WHEREOF, each of
the Borrowers has caused this Note to be signed in their names by an authorized
officer as of the 31st day of
August, 2010.

    

    
      
        	 
      	
                JINTAI
      MINING GROUP, INC.

              
	 
      	 
      
	 
      	
                Date:  August
      31, 2010

              
	 
      	 
      
	 
      	
                By:

              	
                /s/ Kuizhong Cai

              
	 
      	
                Name:
      Kuizhong Cai

              
	 
      	
                Title:
      President and Chairman of the Board

              
	 
      	 
      
	 
      	
                HUANJIANG
      JINTAI MINING CO.LTD

              
	 
      	 
      
	 
      	
                Date:  August
      31, 2010

              
	 
      	 
      
	 
      	
                By:

              	
                /s/ Kuizhong Cai

              
	 
      	
                Name:
      Kuizhong Cai

              
	 
      	
                Title:
      President and Chairman of the
Board

              

      

    

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

    

    EXHIBIT A TO CONVERTIBLE
NOTE

    

    NOTICE OF
CONVERSION

    

    (To be
executed by the Registered Holder in order to voluntarily convert the
Note)

    

    The
undersigned hereby elects to convert the principal amount of the Convertible
Note (the “Note”) issued by Jintai Mining Group, Inc. on August  ___,
2010, and the accrued but unpaid interest thereon, into shares of Common Stock
of Jintai Mining Group, Inc. according to the conditions set forth in such Note,
as of the date written below.

    

    Date of
Conversion:             ___________________

    

    Amount to
be Converted:     ___________________

    

    Shares To
Be
Delivered:      ___________________

    

    Signature:             ___________________

    

    Print
Name:          ___________________

    

    Address:               ___________________

    ___________________

    ___________________

     

    
      
         

      

      
        9

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