Document:

Exhibit
4.5

SECURITIES
PURCHASE AGREEMENT

THIS SECURITIES PURCHASE AGREEMENT (this “Agreement”) is made as of this 28th
day of March, 2007, by and among Idaho General Mines, Inc., an Idaho
corporation (the “Company”), and those
purchasers that execute and deliver to the Company a counterpart signature page
hereto and are listed on Exhibit A (each a “Purchaser”
and collectively, the “Purchasers”).

WHEREAS, the Company desires to issue and sell to the
Purchasers, severally and not jointly, and the Purchasers desire to acquire
from the Company, severally and not jointly, Units (“Units”),
at a price of $3.40 per Unit, each Unit being comprised of one share (the “Offered Shares”) of the Company’s
common stock (“Common Stock”) and a warrant
(the “Warrants”) to purchase
one-half of one share of Common Stock (the “Warrant
Shares”) on the terms set forth therein, for the consideration
specified in Exhibit A (the “Purchase Price”),
on the terms and subject to the conditions herein; and

WHEREAS, the Company and the Purchasers desire to set
forth certain matters to which they have agreed relating to the Units, the
Offered Shares, the Warrants and the Warrant Shares (collectively, the “Securities”).

NOW, THEREFORE, in consideration of the premises and
the mutual covenants contained in this Agreement, the parties, intending to be
legally bound, agree as follows:

ARTICLE I

ISSUANCE
OF SHARES; CLOSING

SECTION 1.1  Purchase and Sale
of Securities.  On the terms and
subject to the conditions of this Agreement and in reliance upon the
representations and warranties of the Company contained herein, each Purchaser
agrees to severally purchase from the Company, and the Company agrees to sell
to each such Purchaser, on the applicable Closing Date (as hereinafter
defined), the aggregate number of Units set forth opposite such Purchaser’s
name on Exhibit A, for the aggregate consideration described on Exhibit
A.

SECTION 1.2  Closings.  The completion of the purchase and sale of
the Units (each, a “Closing”)
(a) with respect to all of the Purchasers other than Sprott Asset Management
Inc. (“Sprott”)
shall occur at the offices of Kirkpatrick & Lockhart Preston Gates Ellis
LLP, Seattle, Washington, on March 29, 2007, or at such other location, date
and time as may be mutually agreed upon by the Company and the Purchasers
purchasing a majority of the Units (other than Sprott) (the “First Closing”) and
(b) with respect to Sprott shall occur at the offices of Kirkpatrick &
Lockhart Preston Gates Ellis LLP, Seattle, Washington, on April 10, 2007, or at
such other location, date and time as may be mutually agreed upon by the
Company and Sprott (the “Second
Closing”) (each of the First Closing and Second Closing is
referred to herein as a “Closing
Date”).  The parties
hereto acknowledge and agree that transactions consummated at

each Closing shall occur entirely within the United States.  At each Closing, each applicable Purchaser
shall pay its respective purchase price for the Units set forth opposite such
Purchaser’s name on Exhibit A by wire transfer to the account
designated by the Company, upon delivery by the Company of the applicable
Offered Shares and Warrants.  In
addition, each party shall deliver all documents, instruments and writings
required to be delivered by such party pursuant to this Agreement at or prior
to such Closing.

ARTICLE
II

REPRESENTATIONS
AND WARRANTIES OF THE COMPANY

The Company hereby represents and warrants to each
Purchaser as follows:

SECTION 2.1  Organization and
Standing.  Each of the Company and
each of its subsidiaries is a corporation duly organized, validly existing and
in good standing under the laws of the jurisdiction of its incorporation and
has all requisite corporate power and authority necessary for it to own or
lease its properties and assets and to carry on its business as it is now being
conducted (and, to the extent described therein, as described in the SEC
Reports (as defined in Section 2.5)).  Each of the Company and each of its
subsidiaries is duly qualified to transact business and is in good standing in
each jurisdiction in which the character of the properties owned or leased by
it or the nature of its businesses makes such qualification necessary, except
where any failure to so qualify or be in good standing, individually or in the
aggregate, would not have a material adverse effect on the business, assets,
operations, properties or condition (financial or otherwise) of the Company and
its subsidiaries, taken as a whole, or on the Company’s ability to consummate
the transactions contemplated by this Agreement (a “Material Adverse Effect”).

SECTION
2.2  Capitalization.  The authorized capital stock of the Company
consists of 200,000,000 shares of Common Stock and 10,000,000 shares of
preferred stock (“Preferred
Stock”).  The number of
outstanding shares of Common Stock and Preferred Stock outstanding is
accurately set forth in the Draft 10-KSB as of the date therein indicated.  The Company has no stock option,
incentive or similar plan other than plans described in the SEC Reports.  All of the outstanding shares of capital
stock of the Company have been duly and validly authorized and issued, and are
fully paid and nonassessable.  The
Offered Shares and the Warrants have been duly and validly authorized and when
issued, sold and delivered by the Company in accordance with this Agreement
shall be validly issued, fully paid and nonassessable.  Except as set forth in this Section 2.2
or the SEC Reports, there are no outstanding options, warrants, conversion
rights, subscription rights, preemptive rights, rights of first refusal or
other rights or agreements of any nature outstanding to subscribe for or to
purchase any shares of Common Stock of the Company or any other securities of
the Company of any kind binding on the Company. 
The issuance by the Company of the Securities is not subject to any
preemptive rights, rights of first refusal or other similar limitation or any
other claim, lien, charge, encumbrance or security interest applicable to the
assets of the Company.  Except as
otherwise required by law, there are no restrictions upon the voting or
transfer of any shares of Common Stock pursuant to the Company’s certificate of
incorporation or bylaws.  Except as
provided herein or the SEC Reports, there are no agreements or other
obligations (contingent or otherwise) that may require the Company to
repurchase or otherwise acquire any shares of its Common Stock.

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SECTION 2.3  Authorization;
Enforceability.  The Company has the
corporate power and authority to execute, deliver and perform this Agreement and
has taken all necessary corporate action to authorize the execution, delivery
and performance by it of, and the consummation of the transactions contemplated
by, this Agreement.  No other corporate
proceeding on the part of the Company is necessary, and no consent of any
shareholder of the Company is required, for the valid execution and delivery by
the Company of this Agreement, and the performance and consummation by the
Company of the transactions contemplated by this Agreement to be performed by
the Company.  The Company has duly
executed and delivered this Agreement. 
Assuming the due execution of this Agreement by each of the Purchasers,
this Agreement constitutes a valid and binding obligation of the Company,
enforceable against the Company in accordance with its terms, except as
enforceability may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium or similar laws affecting the enforcement of
creditors’ rights generally and by general principles of equity (regardless of
whether enforcement is sought in a proceeding in equity or at law).

SECTION 2.4  No Violation;
Consents.

(a)        The execution, delivery
and performance by the Company of this Agreement and the consummation of the
transactions contemplated hereby to be performed by the Company do not and will
not (i) contravene the applicable provisions of any law, statute, rule,
regulation, order, writ, injunction, judgment or decree of any court or any
federal or state government or political subdivision thereof and any agency or
other entity exercising executive, legislative, judicial, regulatory or
administrative functions of or pertaining to government (a “Governmental Authority”) to
or by which the Company or any of its subsidiaries or any of its or their
respective properties or assets is bound, (ii) violate, result in a breach
of or constitute (with due notice or lapse of time or both) a default or give
rise to an event of acceleration under any contract, lease, loan or credit
agreement, mortgage, security agreement, trust indenture or other agreement or
instrument to which the Company is a party or by which it or any of its
subsidiaries is bound or to which any of its respective properties or assets is
subject, nor result in the creation or imposition of any lien, security interest,
charge or encumbrance of any kind upon any of the properties, assets or capital
stock of the Company or any of its subsidiaries, or (iii) violate any
provision of the organizational and other governing documents of the Company or
any of its subsidiaries.

(b)        Subject to the accuracy
of the Purchasers’ representations and warranties herein, no consent, approval,
authorization or order of, or filing or registration with, any court or
Governmental Authority or other person is required to be obtained or made by
the Company for the execution, delivery and performance of this Agreement or
the consummation of any of the transactions contemplated hereby except for
those consents or authorizations previously made or obtained and those filings
which are required to be made under federal or state securities laws that,
pursuant to such laws, may be made after the date hereof.

SECTION 2.5  SEC Reports;
Financial Condition; No Adverse Changes. 
(a)  The audited financial
statements of the Company and the related notes thereto as of December 31, 2006
contained in the SEC Reports (the “Financial Statements”) present fairly the
financial position, results of operations and cash flows of the Company at such
date and for the periods set forth therein. 
The Financial Statements, including the related schedules and notes
thereto, have 

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been prepared in accordance with generally accepted accounting
principles in the United States as in effect on the date of filing of such
documents with the SEC, applied on a consistent basis unless otherwise
expressly stated therein except for changes concurred in by the Company’s
independent public auditors.  Except as
disclosed in (i) the draft of the Company’s Annual Report on Form 10-KSB
for the year ended December 31, 2006, dated March 27, 2007, which was offered
to Citadel Equity Fund Ltd. for its review, subject to first signing a
non-disclosure agreement (NDA)  (the “Draft 10-KSB”); but
Citadel Equity Fund Ltd. has declined to receive and review the Draft 10-KSB  and has not entered into an NDA, and (ii)
the Current Reports on Form 8-K filed by the Company with the Securities and
Exchange Commission (“SEC”)
since December 31, 2006 (collectively, the documents in (i) and (ii) above are
referred to as the “SEC
Reports”), during the period from December 31, 2006 to and
including the date hereof, there has been no sale, transfer or other
disposition by the Company of any material part of the business, property or
securities of the Company (other than the grant of options and warrants and shares
of Common Stock issued upon the exercise of outstanding options and warrants)
and no purchase or other acquisition of any business, property or securities by
the Company material in relation to the financial condition of the Company.

(b)        Since December 31,
2006, except as set forth in the SEC Reports, there has been no development or
event known to the Company or any of its subsidiaries, or any action of any
Governmental Authority known to the Company, that has had or could reasonably
be expected to have a Material Adverse Effect.

SECTION 2.6  Securities Laws.  All notices, filings, registrations, or
qualifications under state securities or “blue sky” laws, which are required in
connection with the offer, issuance, sale and delivery of the Securities pursuant
to this Agreement, have been, or will be, completed by the Company.

SECTION 2.7  No Default.  The Company is not, and, immediately after
the consummation of the transactions contemplated hereby to be performed by the
Company, the Company will not be, in default of (whether upon the passage of
time, the giving of notice or both), any term of its charter document or its
bylaws or any provision of any security issued by the Company, or of any
agreement, instrument or other undertaking to which the Company is a party or
by which it or any of its properties or assets is bound, or the applicable
provisions of any law, statute, rule, regulation, order, writ, injunction,
judgment or decree of any court or Governmental Authority to or by which the
Company or any of its properties or assets is bound, which default, either
individually or in the aggregate, could reasonably be expected to have a
Material Adverse Effect.

SECTION 2.8  Intellectual
Property.  The Company and its
subsidiaries have all licenses, copyrights and trademarks that are needed to
conduct the business of the Company and its subsidiaries as it is now being
conducted (the “Intellectual
Property Rights”).  To the
Company’s knowledge, the Intellectual Property Rights that the Company (and/or
its subsidiaries) owns are valid and enforceable.  To the Company’s knowledge, the use of such
Intellectual Property Rights by the Company (and/or its subsidiaries) does not
infringe upon or conflict with any right of any third party, and, except as
disclosed in the SEC Reports, neither the Company nor any of its subsidiaries
has received notice, written or otherwise, of any such infringement or conflict
other than with respect to alleged infringements or conflicts that,

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individually or in the aggregate, if determined adversely to the
Company would not have a Material Adverse Effect.  The Company has no knowledge of any
infringement of its Intellectual Property Rights by any third party.

SECTION 2.9  No Litigation.  Except as disclosed in the SEC Reports, no
litigation, proceeding, other action or claim (including those for unpaid
taxes), or environmental proceeding against the Company or any of its
subsidiaries is pending, or, to the Company’s knowledge, threatened or
contemplated, that, if determined adversely, would have a Material Adverse
Effect on the Company.

SECTION 2.10  Permits.  The Company and each of its subsidiaries is
in possession of all franchises, grants, authorizations, licenses, permits,
easements, variances, exemptions, consents, certificates, approvals and orders
necessary to own, lease and operate its properties and to carry on its business
as it is now being conducted (collectively, the “Company Permits”), and there is no
action pending or, to the knowledge of the Company, threatened, regarding suspension
or cancellation of any of the Company Permits except for such Company Permits
the failure to possess which, or the cancellation or suspension of which, would
not, individually or in the aggregate, have a Material Adverse Effect.  To the knowledge of the Company, neither the
Company nor any of its subsidiaries is in material conflict with, or in
material default or material violation of, any of the Company Permits.

SECTION 2.11  Subsidiaries.  As of the date hereof, the Company has no
subsidiaries other than those set forth in the SEC Reports or those that
conduct no active business.

SECTION 2.12  Related Party
Transactions.  Except as disclosed in
the SEC Reports and for such transactions for which disclosure pursuant to
Regulation S-B would not be required in an SEC Report, none of the officers,
directors, employees or 5% or greater shareholders of the Company is presently
a party to any transaction with the Company or any of its subsidiaries (other
than for services as employees, officers and directors), including any
contract, agreement or other arrangement providing for the furnishing of
services to or by, providing for rental of real or personal property to or
from, or the advances of money or otherwise requiring payments to or from any
such officer, director, employee or shareholder or, to the knowledge of the
Company, any corporation, partnership, trust or other entity in which any such
officer, director, employee or shareholder has a substantial interest or is an
officer, director, trustee or partner.

SECTION 2.13  Disclosure.  The representations and warranties of the
Company in this Agreement and the statements contained in the SEC Reports (at
the time provided to the Purchaser in the case of the Draft 10-KSB, and at the
time filed with the SEC in the case of the SEC Reports described in Section
2.5(a)(ii), except as modified by subsequent reports filed by the Company
with the SEC) and the schedules, certificates and exhibits furnished to the
Purchasers by or on behalf of the Company in connection herewith did not and do
not contain any untrue statement of a material fact and do not omit to state
any material fact necessary to make the statements herein or therein not
misleading in light of the circumstances under which such statements were made.  The SEC Reports contain all material
information concerning the Company required to be set forth therein, and no
event or circumstance has occurred or exists since December 31, 2006, that
would require the Company to disclose such event or circumstance in order to
make the statements in the SEC Reports not materially misleading as of 

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the date of the Closing that has not been so disclosed except for
disclosure of the transactions contemplated hereby.  Without limiting the foregoing, each
Purchaser acknowledges that the Draft 10-KSB is a draft of the Company’s Annual
Report on Form 10-KSB for the year ended December 31, 2006, and that the actual
Form 10-KSB that the Company files with the SEC may contain certain updates and
revisions.  The Company hereby
acknowledges that each Purchaser is and will be relying on the SEC Reports and
the Company’s representations, warranties and covenants contained herein in
making an investment decision with respect to the Securities.

SECTION 2.14  Securities
Compliance.  The Common Stock is
registered pursuant to Section 12(b) of the Securities Exchange Act of
1934, as amended (the “Exchange
Act”), and listed on AMEX. 
The Company is in material compliance with all AMEX requirements, and
the Company has not been contacted by AMEX, either orally or in writing,
concerning any violations or any potential removal of the Common Stock from
AMEX.

SECTION 2.15  Environmental
Matters.  The Company and each of its
subsidiaries is in compliance in all material respects with all applicable
state and federal environmental laws, and the Company is not aware of any event
or condition that has occurred that is reasonably likely to interfere in any
material respect with the compliance by the Company or any of its subsidiaries
with any environmental law or that may give rise to any liability under any
environmental law that, individually or in the aggregate, would have a Material
Adverse Effect.

SECTION 2.16  Tax Returns.  The Company has filed or caused to be filed
all Federal tax returns and all material state and local tax returns required
to have been filed by it and has paid or caused to be paid all taxes shown to
be due and payable by it on such returns or on any assessments received by it,
except any such tax, the validity or amount of which is being contested in good
faith by appropriate proceedings and as to which the Company has set aside on
its books adequate reserves with respect thereto in accordance with generally
accepted accounting principles.  Neither
the Company nor any of its subsidiaries has received any tax assessment, notice
of audit, notice of proposed adjustment or deficiency notice from any taxing
authority.

ARTICLE
III

REPRESENTATIONS,
WARRANTIES AND COVENANTS OF THE PURCHASERS

Each Purchaser, severally and not jointly, hereby
acknowledges, represents, warrants and agrees as follows:

SECTION 3.1  Authorization;
Enforceability; No Violations.

(a)        If the Purchaser is not
an individual, the Purchaser is duly organized, validly existing and in good
standing under the laws of its jurisdiction, has all requisite power and
authority to execute, deliver and perform the terms and provisions of this
Agreement and has taken all necessary action to authorize the execution,
delivery and performance by it of this Agreement and to consummate the
transactions contemplated hereby to be performed by it.  If the Purchaser is an individual, he or she
has the legal capacity to execute, deliver and perform the terms and provisions
of this Agreement.

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(b)        If the Purchaser is not
an individual, the execution, delivery and performance by such Purchaser of
this Agreement and the consummation by such Purchaser of the transactions
contemplated hereby to be performed by it do not and will not violate any
provision of (i) such Purchaser’s organizational documents, or
(ii) any law, statute, rule, regulation, order, writ, injunction, judgment
or decree to which such Purchaser is subject. 
Such Purchaser has duly executed and delivered this Agreement.  Assuming the due execution hereof by the
Company, this Agreement constitutes the legal, valid and binding obligation of
such Purchaser, enforceable against such Purchaser in accordance with its
terms, except as enforceability may be limited by applicable bankruptcy,
insolvency, reorganization, moratorium or similar laws affecting the
enforcement of creditors’ rights generally and by general principles of equity
(regardless of whether enforcement is sought in a proceeding in equity or at
law).

SECTION 3.2  Securities Act
Representations; Legends.

(a)        Such Purchaser
understands and agrees that: 
(i) the offering and sale of the Securities to be issued and sold
hereunder is intended to be exempt from the registration requirements of the
Securities Act of 1933, as amended (the “Securities
Act”); (ii) the initial offer and sale of the Units
issuable hereunder, and any resale of the Offered Shares, Warrants and Warrant
Shares, have not been registered under the Securities Act or any other
applicable securities laws and such securities may be transferred or otherwise resold
in accordance with the provisions of Regulation S under the Securities Act (as
applicable), pursuant to an effective registration statement under the
Securities Act and any other applicable securities laws or if an exemption from
such registration requirements is available; and (iii) the Company is
required to register any resale of the Securities under the Securities Act and
any other applicable securities laws only to the extent provided in this
Agreement.

(b)        Such Purchaser
represents that the Securities to be acquired by such Purchaser pursuant to
this Agreement are being acquired for its own account and not with a view to,
or for sale in connection with, any distribution thereof or in violation of the
Securities Act or any other securities laws that may be applicable.  Notwithstanding the foregoing, Purchaser is
not agreeing to hold the securities for any period of time and reserves the
right to dispose of them at any time, subject to applicable law.

(c)        Such Purchaser
represents that such Purchaser is not an affiliate (as such term is defined in
Rule 405 under the Securities Act) of the Company. [deleted as appropriate]

(d)        Such Purchaser
acknowledges that no oral or written statements or representations have been
made to such Purchaser by or on behalf of the Company in connection with the
offering and sale of the Securities hereunder other than those set forth in the
SEC Reports or as set forth herein, and such Purchaser represents that it is
not subscribing for the Securities as a result of, or in response to, any
advertisement, article, notice or other communication published in any
newspaper, magazine or similar media or broadcast over television or radio, or
presented at any seminar or meeting.

(e)        Such Purchaser has been
furnished with such materials relating to the business, finances and operations
of the Company and the offer and sale of the Securities which have been
requested by such Purchaser.  Such
Purchaser has had the opportunity to read the SEC 

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Reports and has been afforded the opportunity to ask questions of the
Company and has received satisfactory answers to all questions asked.  Such Purchaser understands that its
investment in the Securities is speculative and involves a high degree of risk.  Purchaser acknowledges that it has carefully
evaluated the merits and risks of such an investment, including the risk
factors set forth in the SEC Reports.

(f)         Such Purchaser hereby
covenants with the Company not to make any sale or other transfer of the
Securities without complying with the provisions of this Agreement, and without
effectively causing the prospectus delivery requirement under the Securities
Act to be satisfied (except to the extent that such obligation is the
obligation of the Company or unless such Purchaser is selling such Securities
in a transaction not subject to the prospectus delivery requirements), and such
Purchaser acknowledges that the certificates evidencing the Offered Shares,
Warrants and Warrant Shares will be imprinted with substantially the following
legend that prohibits their transfer except in accordance therewith:  THE SECURITIES REPRESENTED HEREBY HAVE NOT
BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AMENDED (THE “1933
ACT”), OR ANY STATE SECURITIES LAWS. THESE SECURITIES MAY NOT BE OFFERED, SOLD,
PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED IN THE ABSENCE OF (I) SUCH
REGISTRATION OR (II) AN EXEMPTION THEREFROM AND, IF REQUESTED BY THE COMPANY,
AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY TO THE EFFECT THAT SUCH
REGISTRATION IS NOT REQUIRED [IN ADDITION, FOR REGULATION S PURCHASERS: OR
(III) IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S UNDER THE 1933
ACT].  [IN ADDITION, FOR REGULATION S
PURCHASERS: HEDGING TRANSACTIONS INVOLVING THESE SECURITIES MAY NOT BE
CONDUCTED UNLESS IN COMPLIANCE WITH THE 1933 ACT.  FOR WARRANTS: 
THE SECURITIES TO BE ISSUED UPON THE EXERCISE OF THIS WARRANT HAVE NOT
BEEN REGISTERED UNDER THE 1933 ACT AND MAY NOT BE EXERCISED BY OR ON BEHALF OF
ANY U.S. PERSON UNLESS REGISTERED UNDER THE 1933 ACT OR AN EXEMPTION FROM SUCH
REGISTRATION INS AVAILABLE.]  Such
Purchaser acknowledges and agrees that the Securities are only transferable on
the books of the Company in accordance with, and that the Company will refuse
to register any transfer of the Securities not made in accordance with, the
restrictions set forth in the foregoing legend. 
Such Purchaser further covenants to notify the Company promptly of the
sale of all of its Securities.  The
foregoing legend will be removed from the certificates representing any Offered
Shares or Warrant Shares, at the request of the holder thereof, at such time as
they become the subject of an effective resale registration statement;
provided, that such holder consents to the entry by the Company of stop
transfer instructions with the Company’s transfer agent during any period under
which a Suspension Notice (as defined in Section 4.5) shall be in
effect.

(g)        Such Purchaser (i) is
an “accredited investor” within the meaning of Rule 501 of Regulation D under
the Securities Act or (ii) is not a U.S. person as defined in Regulation S
under the Securities Act and is not acquiring the Securities for the account or
benefit of any U.S. person.

(h)        Such Purchaser, either
alone or with the assistance of his/her professional advisors, is a sophisticated
investor, is able to fend for itself in the transactions contemplated by this
Agreement, and has such knowledge and experience in financial and business
matters that it 

 8
 

is capable of evaluating the merits and risks of an investment in the
Securities and of making an informed investment decision and understands and
has fully considered for purposes of this investment the risk of loss of all
monies invested herein.

(i)         Such Purchaser (i)
understands that there is presently no active public market for the Securities
and that an active and liquid trading market may not develop, which may have a
material adverse impact on the price of the Securities and such Purchaser’s
ability to dispose of the Securities in a timely manner or at all, and (ii) is able
(A) to bear the economic risk of his or her investment, (B) to hold the
Securities for an indefinite period of time and (C) to afford a complete loss
of this investment.

(j)         Such Purchaser has
adequate means of providing for its current needs and possible personal
contingencies, and has no need for liquidity in this investment. Such Purchaser’s
overall commitment to investments which are illiquid or not readily marketable
is not disproportionate to its net worth, and investment in the Securities will
not cause such overall commitment to become excessive.

(k)        Such Purchaser has been
solely responsible for its own due diligence investigation of the Company and
its business, and its analysis of the merits and risks of the investment made
pursuant to this Agreement, and is not relying on anyone else’s analysis or
investigation of the Company, its business or the merits and risks of the
Securities other than professionals employed specifically by the Purchaser to
assist the Purchaser.  In taking any
action or performing any role relative to the arranging of the investments
being made pursuant to this Agreement, such Purchaser has acted solely in its
own interest and not in that of any other Purchasers, and none of the other
Purchasers (or any of their respective employees or agents) has acted as an
agent or fiduciary for such Purchaser.

SECTION 3.3  Investment
Decision by Purchaser.  Such
Purchaser understands that nothing in this Agreement or any other materials
presented to such Purchaser in connection with the purchase and sale of the
Securities constitutes legal, tax or investment advice.  Such Purchaser has consulted such legal, tax
and investment advisors as it, in its sole discretion, has deemed necessary or
appropriate in connection with its purchase of the Securities.

ARTICLE
IV

REGISTRATION
RIGHTS

SECTION 4.1  Registration of
Shares.  As soon as reasonably
practicable after the date of execution of this Agreement by the Company, but
in any event no later than forty-five days after the First Closing Date (the “Filing Date”), the
Company will prepare, and file with the SEC a registration statement on Form
S-3 (or such other form as may be available to the Company to effect the
registration hereby, such registration statement and the prospectus included
therein being referred to as the “S-3”) for resale of the Offered Shares and
the Warrant Shares (the “Registrable
Securities”).  Purchaser
acknowledges and agrees that the Company may include in the S-3 securities to
be sold on behalf of other parties. 
Concurrently with Purchaser’s execution of this Agreement, Purchaser
agrees to submit to the Company the Shareholder Information Request attached as
Exhibit B for the Company’s use in completing the S-3.

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SECTION 4.2  Company
Obligations.  In connection with the
S-3, the Company shall:

(a)                   prepare and
file with the SEC such amendments and supplements to the S-3 and the prospectus
used in connection with such S-3 as may be necessary to comply with the
provisions of the Securities Act with respect to the disposition of the
Registrable Securities;

(b)                  furnish such
number of the S-3 and prospectuses and other documents incident thereto,
including any amendment of or supplement to the prospectus, as the Purchaser
may from time to time reasonably request;

(c)                   furnish to each
Purchaser copies of any comments that the SEC provides in writing to the
Company pertaining to the S-3, and any responses thereto from the Company to
the SEC, in each case that pertain to such Purchaser as a selling shareholder
or to the “Plan of Distribution” section, but not information which the
Corporation believes would constitute material and non-public information;

(d)                promptly provide
notice to the Purchasers when the S-3 or any post-effective amendment
thereto the same has become effective;

(e)                   use its
commercially reasonable efforts to qualify the Registrable Securities for offer
and sale under such other securities or blue sky laws of such jurisdictions in
the United States as the Purchaser reasonably requests;

(f)                     use its
commercially reasonable efforts to cause all such Registrable Securities to be
initially listed on The American Stock Exchange or any other applicable
securities exchange or quoted on each inter-dealer quotation system on which
the Company’s common stock is then listed or quoted; and

(g)                  pay all expenses
incurred in connection with such registration, including but not limited to,
registration and filing fees with the SEC, fees and expenses of compliance with
securities or blue sky laws and fees and expenses incurred in connection with
the listing or quotation of the Registrable Securities.

SECTION 4.3  Registration
Statement Effectiveness.

(a)        The Company shall use
commercially reasonable efforts to have the S-3 declared effective under the
Securities Act as promptly as practicable after filing thereof with the SEC,
but in no event later than (i) 45 days after the Filing Date in the event that
the SEC has notified the Company that it will not review the S-3 or (ii) 150
days after the Filing Date in the event that the SEC has notified the Company
that it will review the S-3 (the date under either (i) or (ii) is referred to
as the “Effective Date”).  The Company shall use commercially reasonable
efforts to cause the S-3 to continue to be effective until the earlier to occur
of (A) the second anniversary of the First Closing Date and (B) the date that
all holders of Registrable Securities 

 10
 

have either disposed of or have the ability to dispose of all their
Registrable Securities within a single three month period pursuant to Rule 144
of the Securities Act (“S-3
Effective Period”), and, during such period, to cause the S-3
and the prospectus contained therein to be updated as reasonably deemed
necessary by the Company to enable the Purchaser to resell the Registrable
Securities.

(b)        If at any time during
the S-3 Effective Period there is not an effective registration statement
covering all of the Registrable Securities and the Company shall determine to
prepare and file with the SEC a registration statement relating to an offering for
its own account or the account of others under the Securities Act of any of its
equity securities, other than on Form S-4 or Form S-8 (each as promulgated
under the Securities Act) or their then equivalents relating to equity
securities to be issued solely in connection with any acquisition of any entity
or business or equity securities issuable in connection with the stock option
or other employee benefit plans, then the Company shall send to each Purchaser
a written notice of such determination and, if within five business days after
the date of such notice, any such Purchaser shall so request in writing, the
Company shall include in such registration statement all or any part of such
Registrable Securities such Purchaser requests to be registered; provided,
however, that, the Company shall not be required to register any Registrable
Securities pursuant to this Section 4.3 that are eligible for resale
pursuant to Rule 144(k) promulgated under the Securities Act or that are the
subject of a then effective registration statement; provided further, that it
shall be a condition to the inclusion of such Registrable Securities on such
registration statement that such Purchaser agrees to the same terms and
conditions regarding method of sale applicable to the securities otherwise
being sold through such registration.

(c)        Promptly upon any
registration statement filed pursuant to this Section 4.3 being declared
effective by the SEC, the Company will file a related form of final prospectus
pursuant to Rule 424(b) promulgated under the Securities Act.

(d)        Each Purchaser agrees
to indemnify the Company, its officers and directors, each underwriter and
selling broker, if any, and each person, if any, who controls the Company,
against liability (including liability under the Securities Act and the 1934
Act) arising by reason of any statement contained in the S-3, that Purchaser
provided to the Company in writing explicitly for use in the S-3, being false
or misleading or omitting to state a material fact necessary to be stated in
order that the statements made in the S-3, in the circumstances in which they
are made, not be misleading; provided that in no event will the aggregate
amount Purchaser is required to pay pursuant to such indemnification
obligations exceed the amount of the net proceeds received by such Holder upon
the sale of the Registrable Securities giving rise to such indemnification
obligation.  The Company hereby agrees to
indemnify Purchaser (including its officers, directors, parents, affiliates,
employees and agents) against liability (including liability under the
Securities Act and the 1934 Act) arising by reason of (i) any statement (other
than a statement provided by Purchaser as described above) in or incorporated
by reference in the S-3 being false or misleading or omitting to state a
material fact necessary to be stated in order that the statements made in or
incorporated by reference in the S-3, in the circumstances in which they are
made, not be misleading, (ii) any violation by the Company of the Securities
Act, the 1934 Act, any state securities laws or any rule or regulation
promulgated under the Securities Act, the 1934 Act or any state securities laws
in connection with the S-3, or (iii) any breach of any representation, warranty
or covenant made by the Company in this Agreement.

 11
 

(e)        If a claim for
indemnification under this Section 4.3 is unavailable (by reason of
public policy or otherwise)  or
insufficient to hold harmless an indemnified party in respect of any losses
referred to herein, then each indemnifying party, in lieu of indemnifying such
indemnified party, shall contribute (but not in an amount greater than it would
pay under Section 4.3(d)) to the amount paid or payable by such indemnified
party as a result of such losses, in such proportion as is appropriate to
reflect the relative fault of the indemnifying party and indemnified party as
well as any other relevant equitable considerations.  The relative fault of such indemnifying party
and indemnified party shall be determined by reference to, among other things,
whether any action in question, including any untrue or alleged untrue
statement of a material fact or omission or alleged omission of a material
fact, was taken or made by, or relates to information supplied by, such indemnifying
party or indemnified party, and the parties’ relative intent, knowledge, access
to information and opportunity to correct or prevent such action, statement or
omission.  The amount paid or payable by
a party as a result of any losses shall be deemed to include, subject to the
limitations set forth herein, any reasonable attorneys’ or other reasonable
fees or expenses incurred by such party in connection with any proceeding to
the extent such party would have been indemnified for such fees or expenses if
the indemnification provided for herein was available to such party in
accordance with its terms.

(f)         The parties to this
Agreement hereby acknowledge that they are sophisticated business persons who
were represented by counsel during the negotiations regarding the provisions
hereof including, without limitation, the provisions of this Section 4.3,
and are fully informed regarding said provisions.  They further acknowledge that the provisions
of this Section 4.3 fairly allocate the risks in light of the
ability of the Purchasers to investigate the Company and its business, and the
ability of the Company to investigate certain matters regarding the Purchaser,
in order to assure that adequate disclosure is made in the S-3 as required by
the Securities Act and the Exchange Act.

SECTION 4.4 
Liquidated Damages.  If the
S-3 is not declared effective by the SEC on or prior to the Effective Date,
without regard for the reason therefor, then on each day commencing on the
Effective Date until the S-3 is declared effective by the SEC, the Company will
pay an amount in cash, as partial liquidated damages and not as a penalty,
equal to 1/30th of 1.0% of the aggregate purchase price paid
to the Company by Purchaser for the Units purchased hereunder, up to a maximum
aggregate amount equal to 10% of the aggregate purchase price paid to the
Company for the Units purchased hereunder (for clarification, such aggregate
purchase price will not include any amounts paid or to be paid to the Company
upon the exercise of the Warrants).  The
Company will pay any partial liquidated damages in arrears on a weekly basis on
the last business day of each week.  If
the Company fails to pay any partial liquidated damages in full within seven
days after the date payable, the Company will pay interest thereon at a rate of
10% per annum (or such lesser maximum amount that is permitted to be paid by
applicable law) to the Purchaser, accruing daily from the date such partial
liquidated damages are due until such amounts, plus all such interest thereon,
are paid in full.

SECTION 4.5  Suspension.  Upon receipt of a notice (a “Suspension Notice”)
from the Company of the happening of any event that makes any statement made in
the S-3 or related prospectus untrue or which requires the making of any changes
in such S-3 or prospectus so that they will not contain any untrue statement of
a material fact or omit to state any material fact required to be stated
therein or necessary to make the statements therein in light of the

 12
 

circumstances under which they were made not misleading, Purchaser
agrees that it shall forthwith discontinue disposition of shares pursuant to
such S-3 until Purchaser’s receipt of the copies of the supplemented or amended
prospectus (which the Company shall use commercially reasonable efforts to
prepare and distribute promptly) or until it is advised in writing by the
Company that the use of the prospectus may be resumed, and has received copies
of any additional or supplemental filings which are incorporated by reference
in the prospectus.  Notwithstanding
anything to the contrary in this Agreement, upon the delivery of a Suspension
Notice the Company may delay the filing of any required amendment or supplement
to the S-3 if: (a) in the good faith and reasonable judgment of the Board of
Directors of the Company, disclosure of such amended information could be
seriously detrimental to the Company, and the Board of Directors of the Company
concludes, as a result, that it is in the best interest of the Company to defer
the filing of such amendment or supplement at such time, and (b) the Company
furnishes to Purchaser a certificate signed by the Chief Executive Officer of
the Company stating that in the good faith judgment of the Board of Directors
of the Company, it could be seriously detrimental to the Company for such
amendment or supplement to be filed at such time and that it is, therefore, in
the best interest of the Company to defer the filing of such amendment or
supplement to the S-3; provided, however, that (i) the Company shall have the
right to defer such filing for a period of not more than 30 days, (ii) the
Company shall not defer its obligation in this manner more than two times and
(iii) the S-3 Effective Period shall be extended for the amount of time that
the S-3 is unavailable due to such a deferral. 
The Company shall be permitted to enter stop transfer instructions with
the Company’s transfer agent with respect to the Registrable Securities during
any period under which a Suspension Notice shall be in effect

SECTION 4.6  Termination of Obligations.  The provisions of this Article IV shall
terminate with respect to any particular Registrable Securities when such
Registrable Securities shall have been sold or otherwise disposed of in
accordance with the intended method of disposition set forth in the S-3.

SECTION 4.7  Current Public
Information.  As long as the
Purchaser owns any Registrable Securities that are not otherwise eligible for
sale as contemplated by Rule 144(k) under the Securities Act, the Company shall
use commercially reasonable efforts to file all required reports with the SEC,
or otherwise make available “adequate current public information” about itself,
within the meaning of Rule 144(c) under the Securities Act, to potentially make
available to the Purchaser the benefits of certain rules and regulations of the
SEC which may permit the sale of the Registrable Securities without
registration.  Notwithstanding the
foregoing, to the extent that a holder of Registrable Securities may dispose of
such Registrable Securities pursuant to the S-3, the Company shall not be
liable to any such holder for any breach of the provisions of this Section
4.6.

ARTICLE V

SURVIVAL

SECTION 5.1  Survival.  Notwithstanding any examination made by or on
behalf of any party hereto, the knowledge of any party or the acceptance by any
party of any certificate or opinion, each representation and warranty contained
herein shall survive each Closing and shall 

 13
 

be fully effective and enforceable for three years after the First
Closing Date, and each covenant contained herein shall survive each Closing and
shall be fully effective and enforceable for the periods set forth therein.

ARTICLE
VI

MISCELLANEOUS

SECTION 6.1  Notices.  All notices, requests, consents and other
communications hereunder shall be in writing, shall be addressed to the
receiving party’s address set forth below or to such other address as a party
may designate by notice hereunder, and shall be either (a) delivered by
hand, (b) made by telecopy or facsimile transmission, (c) sent by
overnight courier, or (d) sent by registered mail, return receipt
requested, postage prepaid.

If to a Purchaser:                                                    To
such Purchaser’s address set forth on 

the signature pages hereto.

If to the Company:                                             Idaho
General Mines, Inc.

10 N.
Post, Ste. 610

Spokane,
WA  99201

Attention:  Chief Executive Officer

Facsimile: (509) 838-0457

With a copy to:                                                             Kirkpatrick
& Lockhart Preston Gates Ellis LLP

925
Fourth Avenue

Suite
2900

Seattle,
WA 98104

Attention:  Gary J. Kocher, Esq.

Facsimile: 
(206) 370-6105

All notices, requests, consents and other
communications hereunder shall be deemed to have been given (i) if by
hand, at the time of the delivery thereof to the receiving
party at the address of such party set forth above; (ii) if by telecopy or
facsimile transmission, on the day that receipt thereof has been
acknowledged by electronic confirmation or otherwise; (iii) if sent by
overnight courier for next-business day delivery, on the next business day
following the day such notice is delivered to the courier service; or
(iv) if sent by registered mail, on the 5th business day following the day
of mailing.

SECTION 6.2  Entire Agreement.  This Agreement, including exhibits or other
documents referred to herein or that specifically indicate that they were
delivered to the Purchaser in connection with this Agreement, together with the
instrument evidencing the Warrants, embodies the entire agreement and
understanding between the parties hereto with respect to the subject matter
hereof and supersedes all prior oral or written agreements and understandings
relating to the subject matter hereof (other than the non-disclosure and
confidentiality agreements, if any, between the Company and any Purchaser
signed in anticipation of an equity financing by the Company).  No statement, representation, warranty,

 14
 

covenant or agreement of any kind not expressly set forth in this
Agreement shall affect, or be used to interpret, change or restrict, the
express terms and provisions of this Agreement.

SECTION 6.3  Amendments.  The terms and provisions of the Agreement may
be modified, amended or waived, or consent for the departure from such terms
and provisions may be granted, only by written consent of the Company and by
Purchasers holding or otherwise entitled to acquire at least two-thirds of the
Registrable Securities issued or issuable at the time of such action, except
that no such modification, amendment, waiver or departure shall be effective if
its purpose or dominant effect is to disadvantage a non-consenting Purchaser.  Each such waiver or consent shall be
effective only in the specific instance and for the purpose for which it was
given, and shall not constitute a continuing waiver or consent.

SECTION 6.4  Assignment.  Prior to the Second Closing, upon written
notice to the Company, Sprott may transfer all of its rights and obligations
hereunder to any affiliate of Sprott. 
Without limiting the foregoing, any Purchaser may transfer its rights
and obligations hereunder to any third party, provided that any such transferee
agrees in writing to assume all of the obligations and liabilities of its
transferor hereunder and agrees itself to be bound hereby all in accordance
with and pursuant to a duly executed written instrument in form reasonably
satisfactory to the Company.

SECTION 6.5  Benefit.  All statements, representations, warranties,
covenants and agreements in this Agreement shall be binding on the parties
hereto and shall inure to the benefit of the respective successors and
permitted assigns of each party hereto. 
Except with respect to the indemnify obligations, nothing in this
Agreement shall be construed to create any rights or obligations except among
the parties hereto, and no person or entity shall be regarded as a third-party
beneficiary of this Agreement.

SECTION 6.6  Governing Law.  This Agreement and the rights and obligations
of the partied hereunder shall be construed in accordance with and governed by
the laws of the State of New York applicable to agreements made and to be
performed entirely within the State of New York, without giving effect to the
conflict of law principles thereof.

SECTION 6.7  Severability.  In the event that any court of competent
jurisdiction shall determine that any provision, or any portion thereof,
contained in this Agreement shall be unreasonable or unenforceable in any
respect, then such provision shall be deemed limited to the extent that such
court deems it reasonable and enforceable, and as so limited shall remain in
full force and effect.  In the event that
such court shall deem any such provision, or portion thereof, wholly
unenforceable, the remaining provisions of this Agreement shall nevertheless
remain in full force and effect.

SECTION 6.8  Headings and
Captions.  The headings and captions
of the various subdivisions of this Agreement are for convenience of reference
only and shall in no way modify or affect the meaning or constructions of any
of the terms or provisions hereof.

SECTION 6.9  No Waiver of
Rights, Powers and Remedies.  No
failure or delay by a party hereto in exercising any right, power or remedy
under this Agreement, and no course of dealing between the parties hereto,
shall operate as a waiver of any such right, power or remedy of the party.  No single or partial exercise of any right,
power or remedy under this Agreement by a party hereto, nor any abandonment or
discontinuance of steps to enforce any such right, power or remedy, 

 15
 

shall preclude such party from other or further exercise thereof or the
exercise of any other right, power or remedy hereunder.  The election of any remedy by a party hereto
shall not constitute a waiver of the right of such party to pursue other
available remedies.  No notice to or
demand on a party not expressly required under this Agreement shall entitle the
party receiving such notice or demand to any other or further notice or demand
in similar or other circumstances or constitute a waiver of the rights of the
party giving such notice or demand to any other or further action in any
circumstances without such notice or demand.

SECTION 6.10  Fees and
Expenses.  At the Second Closing, the
Company will pay to Sprott a $1,500,000 fee in connection with the transactions
contemplated hereby.  Except as set forth
in the foregoing sentence, each of the parties shall pay its own fees and expenses
(including the fees of any attorneys, accountants, appraisers or others engaged
by such party) in connection with this Agreement and the transactions
contemplated hereby whether or not the transactions contemplated hereby are
consummated.

SECTION 6.11  Counterparts.  This Agreement may be executed in
counterparts, each of which shall be deemed an original and all of which
together shall constitute one agreement.

SECTION 6.12  Further
Assurances.  In case at any time
after either Closing any further action is necessary or desirable to carry out
the purposes of this Agreement, the Company and the Purchaser will take such
further action as the other party may reasonably request, all at the sole cost
and expense of the requesting party.

SECTION 6.13  Independent
Nature of Purchasers’ Obligations and Rights.  The obligations of each Purchaser under this
Agreement are several and not joint with the obligations of any other
Purchaser, and no Purchaser shall be responsible in any way for the performance
of the obligations of any other Purchaser hereunder.  The decision of each Purchaser to purchase
Securities pursuant to this Agreement has been made by such Purchaser
independently of any other Purchaser. 
Nothing contained in this Agreement, and no action taken by any
Purchaser pursuant hereto, shall be deemed to constitute the Purchasers as a
partnership, an association, a joint venture or any other kind of entity, or
create a presumption that the Purchasers are in any way acting in concert or as
a group with respect to such obligations or the transactions contemplated by
this Agreement.  Each Purchaser
acknowledges that no other Purchaser has acted as agent for such Purchaser in
connection with making its investment hereunder and that no Purchaser will be
acting as agent of such Purchaser in connection with monitoring its investment
in the Securities or enforcing its rights under this Agreement.  Each Purchaser shall be entitled to
independently protect and enforce its rights, including without limitation the
rights arising out of this Agreement, and it shall not be necessary for any
other Purchaser to be joined as an additional party in any proceeding for such
purpose.

[Signature page follows]

 16

IN WITNESS WHEREOF, the
Company and the Purchasers have executed this Securities Purchase Agreement as
of the day and year first above written.

	
  

  	
  IDAHO GENERAL MINES, INC.

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Bruce D. Hansen

  
	
   

  	
   

  	
  Name: Bruce D.
  Hansen

  
	
   

  	
   

  	
  Title: CEO

  
	
   

  	
   

  

 

[Signature Page to Securities Purchase
Agreement]

PURCHASER:

	
  

  	
  Purchaser Name: CCM Master Qualified Fund, Ltd.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Clint D. Coghill

  
	
   

  	
   

  	
  Name: Clint D.
  Coghill

  
	
   

  	
   

  	
  Title: Director

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Address:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Facsimile:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  

 

[Signature Page to Securities
Purchase Agreement]

PURCHASER:

	
  

  	
  Citadel Equity Fund Ltd.

  
	
   

  	
  By: Citadel Limited Partnership

  
	
   

  	
  By: Citadel Investment Group, L.L.C.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Matthew Hinerfeld

  
	
   

  	
   

  	
  Name: Matthew Hinerfeld

  
	
   

  	
   

  	
  Title: Managing Director & Deputy General
  Counsel

  
	
   

  	
   

  	
   

  
	
   

  	
  Address:

  
	
   

  	
   

  
	
   

  	
  c/o Citadel Limited Partnership

  
	
   

  	
   

  
	
   

  	
  131 S. Dearborn Street

  
	
   

  	
   

  
	
   

  	
  Chicago, IL 60603

  
	
   

  	
   

  
	
   

  	
  Attn: General Counsel

  
	
   

  	
   

  
	
   

  	
  Facsimile: 312-977-0280

  

 

[Signature Page to Securities Purchase
Agreement]

 

PURCHASER:

	
   

  	
  Purchaser Name: HCM Energy Holdings, LLC

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Peter H. Huizenga

  
	
   

  	
   

  	
  Name: Peter H. Huizenga

  
	
   

  	
   

  	
  Title: Manager

  
	
   

  	
   

  	
   

  
	
   

  	
  Address:

  
	
   

  	
   

  
	
   

  	
  2215 York Road Suite 500

  
	
   

  	
   

  
	
   

  	
  Oak Brook, IL 60523

  
	
   

  	
   

  
	
   

  	
  Facsimile:

  
	
   

  	
   

  
	
   

  	
  630-990-2110

  

 

[Signature Page to Securities
Purchase Agreement]

 

PURCHASER:

	
   

  	
  Purchaser Name: Sprott Asset Management Inc.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Kirstin McTaggard

  
	
   

  	
   

  	
  Name: Kirstin McTaggard

  
	
   

  	
   

  	
  Title: Chief Compliance Officer

  
	
   

  	
   

  	
   

  
	
   

  	
  Address:

  
	
   

  	
   

  
	
   

  	
  200 Bay St, Suite 2700, PO Box 27

  
	
   

  	
   

  
	
   

  	
  Toronto, ON M5J 251

  
	
   

  	
   

  
	
   

  	
  Facsimile:

  
	
   

  	
   

  
	
   

  	
   

  

 

[Signature Page to Securities
Purchase Agreement]

 

EXHIBIT
A

	
  Purchaser

  	
   

  	
  Purchase

  Amount

  	
   

  	
  Units/Shares

  	
   

  	
  Shares

  Issuable Upon

  Exercise of

  Warrants

  	
   

  
	
  Sprott Asset Management
  Inc.

  	
   

  	
  $

  	
  11,000,000

  	
   

  	
  3,235,294

  	
   

  	
  1,617,647

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  CCM Master Qualified
  Fund, Ltd.

  	
   

  	
  $

  	
  6,788,952

  	
   

  	
  1,996,751

  	
   

  	
  998,375

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Citadel Equity Fund Ltd

  	
   

  	
  $

  	
  4,211,048

  	
   

  	
  1,238,544

  	
   

  	
  619,273

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  HCM Energy Holdings,
  LLC

  	
   

  	
  $

  	
  3,000,000

  	
   

  	
  882,353

  	
   

  	
  441,176

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Total

  	
   

  	
  $

  	
  25,000,000

  	
   

  	
  7,352,941

  	
   

  	
  3,676,471

  	
   

  

 

 A-1

EXHIBIT
B

SHAREHOLDER
INFORMATION REQUEST

Re:                             Registration
of Idaho General Mines, Inc. Common Stock

Ladies and Gentlemen:

The undersigned
(the “Selling Shareholder”)
represents and warrants that the following information and statements are
correct and complete as of the date hereof, that Idaho General Mines, Inc. (the
“Company”) may rely
on such information, and that the information may be included in a Registration
Statement on Form S-3 (or such other form as may be available to the Company to
effect the registration hereby, such registration statement and the prospectus
included therein being referred to as the “S-3”) to be filed by the Company with the Securities and
Exchange Commission (the “SEC”) with
respect to the following securities (the “Registrable  Securities”) issued pursuant to
the Securities Purchase Agreement executed by the undersigned (or the original
holder of such Registrable Securities): (i) shares of the Company’s common
stock, and/or (ii) shares of the Company’s common stock issuable pursuant to
warrants held by the undersigned.

1.                                      General.  Full legal name of Selling Shareholder:                                                                                           

2.                                      Residency.
The undersigned is a resident of the State of                                             .

3.                                      Securities
Owned.  The undersigned Selling
Shareholder is the beneficial owner (see below for definition) of the following
securities of the Company (please list type of security and amount):

	
  

  
	
   

  
	
   

  

 

Explain below any additional disclosure that would be required in the
S-3 under the rules and regulations of the SEC in connection with the
disclosure of the beneficial ownership of the securities listed above.

Definition:  The term “beneficial owner” describes any
direct or indirect interest in securities that entitles you to any of the
rights or benefits of ownership, whether or not you are not the holder or owner
of record.  For example, you are the
beneficial owner of securities held for you by custodians, brokers, nominees,
pledgees, and certain trustees, corporations and partnerships.  This definition is not intended to be
exhaustive.  You should refer to Rule
13(d)(3) under the Securities Exchange Act of 1934, as amended, for a complete
definition.

4.                                      Initial
Securities to be Registered.  The
undersigned Selling Shareholder is the beneficial owner (see below for
definition) of the following Registrable Securities (please list type of
security and amount):

	
  

  
	
   

  
	
   

  

 

 B-1
 

The undersigned consents to having all of the
Registrable Securities listed above as “offered” in the prospectus.  (Please indicate below if you wish to include
a different number of shares).                                         

	
   

  

  

 

5.                                      Material
Relationships.  The undersigned has
not held any position or office or had any other material relationship with the
Company or any of its affiliates during the past three years except as
disclosed below or on an attached sheet:

	
  

  
	
   

  
	
   

  

 

6.                                      Broker-Dealer
Affiliations.

(a)           Is
the undersigned a registered broker-dealer?   
Yes                                      No                                         

*Note: If the answer above is “yes”, SEC rules require that the
undersigned be identified as an underwriter in the S-3 unless the Registrable
Securities that are registered on your behalf compensated you for investment
banking services.

(b)           Is the undersigned an affiliate of a
registered broker-dealer?   Yes                               No                         

If yes, please identify the registered broker-dealer with whom the
undersigned is affiliated:                                 

                                                                                                                                                                                                                

If yes, please additionally indicate whether the undersigned purchased
the Registrable Securities in the ordinary course of business and that at the
time of purchase of such securities, the undersigned had no agreements or
understanding, directly or indirectly, with any party to distribute the
Registrable Securities:

Yes                                              No                                      

*Note: If the answer above is “no”, then SEC rules require that the
undersigned be identified as an underwriter in the S-3.

7.                                      Prospectus
Delivery Requirement/Plan of Distribution. 
The undersigned agrees to cause a copy of a current prospectus that
is part of the Registration Statement to be delivered to the purchaser, donee,
or other transferee of any the Registrable Securities sold, gifted or otherwise
distributed pursuant to the S-3 as required by the applicable prospectus
delivery requirements of the Securities Act of 1933.  The undersigned understands that the Company
will provide, at its expense, copies of the prospectus upon request.  The undersigned further agrees to effect any
transfer of the Registrable Securities pursuant to the Plan of Distribution set
forth in the prospectus that is part of the Registration Statement.  For your convenience, we are attaching the
expected Plan of Distribution to this letter as Exhibit A.

8.                                      Updates.  The undersigned agrees to promptly notify the
Company of any inaccuracies or changes in the information provided herein that
may occur after the date hereof at any time before the filing of the S-3 or
while the S-3 is effective pursuant to the procedure for giving notice in the
undersigned’s Securities Purchase Agreement with the Company with respect to
the Registrable Securities.  If the
undersigned transfers all or any portion of the Registrable Securities included
or to be included in the S-3 after the date hereof, the undersigned agrees to
notify the transferee(s) at the time of the transfer of its rights and
obligations under this Notice and Questionnaire.

 B-2
 

9.                                      Indemnification
Agreement.  The undersigned confirms
his, her, or its obligation to indemnify the Company, its officers and
directors, each underwriter and selling broker, if any, and each person who
controls the Company, against liability (including liability under the
Securities Act of 1933 and the Securities Exchange Act of 1934) arising by
reason of any statement contained in the S-3 that such Selling Shareholder has
provided in writing herein explicitly for use in the S-3 being false or
misleading or omitting to state a material fact necessary to be stated in order
that such statements in the S-3, in the circumstances in which they are made,
not be misleading; provided, however, that any such obligation to provide
indemnity shall not exceed the proceeds received by the undersigned from the
sale of the Registrable Securities under the S-3.  The undersigned also understands the Company’s
obligation to indemnify the undersigned as set forth in the Securities Purchase
Agreement relating to the Registrable Securities.

The
undersigned hereby represents and warrants to the Company that the information
contained herein, and any updated or additional information provided to the
Company in connection herewith, is complete and accurate as of the date hereof
and may be relied upon by the Company, and consents to the disclosure thereof
in the S-3 and any related prospectus.

[Signature page follows]

 B-3
 

SIGNATURE
PAGE      SHAREHOLDER INFORMATION REQUEST

	
   

  	
   

  	
   

  
	
  Print Name of Selling
  Shareholder (If signing for an entity please print the entity’s name)

   

  	
   

  	
  Signature of
  Selling Shareholder

  
	
   

  	
   

  	
   

  
	
  Print Name of
  Spouse (if securities are held in joint name or are community property)

   

  	
   

  	
  Signature of Spouse (if
  securities are held in joint name or are community property)

   

  
	
  Date:

  	
   

  	
   

  	
   

  
				

 

Return to:

Idaho General Mines, Inc.

c/o Kirkpatrick & Lockhart
Preston Gates Ellis LLP

925 Fourth Avenue

Suite 2900

Seattle, WA 98104

Attn: 
Teresa Sumearll

Tel: (206) 623-7580

 B-4
 

EXHIBIT A

TO

SHAREHOLDER INFORMATION REQUEST

PLAN OF DISTRIBUTION

The selling
shareholders and their successors, which includes their donees, pledges,
transferees and successors-in-interest, may sell the shares of common stock
offered by this prospectus from time to time in one or more transactions. We
will not receive any proceeds from the sale of the shares by the selling
shareholders. The selling shareholders may sell the shares at fixed prices that
may change, market prices at the time of sale, prices related to market prices
at the time of sale, or negotiated prices. 
The selling shareholders may sell the shares in one or more transactions:

·                  in the over-the-counter market;

·                  on any national securities exchange or
quotation service on which the securities may be listed or quoted at the time
of the sale;

·                  in privately negotiated transactions;

·                  through the writing of options (including
the issuance by the selling shareholders of derivative securities), whether the
options or such other derivative securities are listed on an options exchange
or otherwise;

·                  through the settlement of short sales; or

·                  through any combination of the foregoing.

The selling
shareholders may sell the shares to or through underwriters, broker-dealers or
agents, who may receive compensation in the form of discounts, concessions or
commissions from the selling shareholders or the purchasers of the
securities.  These discounts, concessions
or commissions may be in excess of those customary in the types of transactions
involved.  Any broker-dealer may
act as a broker-dealer on behalf of a selling shareholder in connection with
the offering of the shares.

There can be no assurance
that any selling shareholder will sell any or all of the securities pursuant to
this prospectus. Further, we cannot assure you that any such selling
shareholder will not transfer, devise or gift the securities by other means not
described in this prospectus. In addition, any securities covered by this
prospectus that qualify for sale pursuant to Rule 144 or Rule 144A of
the Securities Act may be sold under Rule 144 or Rule 144A rather
than under this prospectus. The securities may be sold in some states only
through registered or licensed brokers or dealers. In addition, in some states
the securities may not be sold unless they have been registered or qualified
for sale or an exemption from registration or qualification is available and
complied with.

The selling shareholders
and any underwriters, broker-dealers or agents that participate in the
distribution of the securities may be deemed to be “underwriters” within the
meaning of the Securities Act. As a result, any profits on the sale of the
securities by selling shareholders and any discounts or commissions received by
any such broker-dealers or agents may be deemed to be underwriting discounts
and commissions under the Securities Act. Selling shareholders who are “underwriters”
within the meaning of the Securities Act will be subject to prospectus delivery
requirements of the Securities Act. If the selling shareholders were
deemed to be underwriters, the selling shareholders may be subject to certain
statutory liabilities of the Securities Act and the Exchange Act. If the
securities are sold through underwriters, broker-dealers or agents, the selling
shareholders will be responsible for underwriting discounts or commissions or
agent’s commissions.

 B-5
 

In connection with the
sales of the securities, the selling shareholders may enter into hedging
transactions with broker-dealers or other financial institutions that in turn
may engage in short sales of the securities in the course of hedging their
positions, sell the securities short and deliver the securities to close out
short positions, loan or pledge securities to broker-dealers or other financial
institutions that in turn may sell the securities, enter into option or other
transactions with broker-dealers or other financial institutions that require
the delivery to the broker-dealer or other financial institution of the
securities, which the broker-dealer or other financial institution may resell
pursuant to the prospectus, or enter into transactions in which a broker-dealer
makes purchases as a principal for resale for its own account or through other
types of transactions.

The selling shareholders
may enter into derivative transactions with third parties, or sell securities
not covered by this prospectus to third parties in privately negotiated
transactions. If the applicable prospectus supplement indicates, in connection
with those derivatives, the third parties may sell securities covered by this
prospectus and the applicable prospectus supplement, including in short sale
transactions. If so, the third party may use securities pledged by the selling
shareholders or borrowed from the selling shareholders or others to settle
those sales or to close out any related open borrowings of stock, and may use
securities received from the selling shareholders in settlement of those
derivatives to close out any related open borrowings of stock. The third party
in such sale transactions will be an underwriter and, if not identified in this
prospectus, will be identified in the applicable prospectus supplement or a
post-effective amendment.

The selling security
shareholders and any other person participating in the sale of securities will
be subject to the Exchange Act. The Exchange Act rules include, without
limitation, Regulation M, which may limit the timing of purchases and
sales of any of the securities by the selling shareholders and any other such
person. In addition, Regulation M may restrict the ability of any person
engaged in the distribution of the securities to engage in market-making
activities with respect to the particular securities being distributed. This
may affect the marketability of the securities and the ability of any person or
entity to engage in market-making activities with respect to the securities.

To our knowledge, there
are currently no plans, arrangements or understandings between any selling
shareholders and any underwriter, broker-dealer or agent regarding the sale of
the securities by the selling shareholders.

Subject to limited
exceptions, we have agreed to bear all expenses in connection with the
registration and sale of the shares being offered by the selling
shareholders.  We and the selling
shareholders have agreed to indemnify each other against certain liabilities,
including liabilities under the Securities Act.

 B-6Exhibit 4.6

COMMON STOCK PURCHASE WARRANT

THIS WARRANT MAY NOT BE
TRANSFERRED EXCEPT AS OTHERWISE DESCRIBED BELOW.

THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN
REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AMENDED (THE “1933
ACT”), OR ANY STATE SECURITIES LAWS. THESE SECURITIES MAY NOT BE OFFERED, SOLD,
PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED IN THE ABSENCE OF (I) SUCH
REGISTRATION OR (II) AN EXEMPTION THEREFROM AND, IF REQUESTED BY THE COMPANY,
AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY TO THE EFFECT THAT SUCH
REGISTRATION IS NOT REQUIRED [IN ADDITION, FOR REGULATION S PURCHASERS: OR
(III) IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S UNDER THE 1933
ACT].  [IN ADDITION, FOR REGULATION S
PURCHASERS: HEDGING TRANSACTIONS INVOLVING THESE SECURITIES MAY NOT BE
CONDUCTED UNLESS IN COMPLIANCE WITH THE 1933 ACT.  THE SECURITIES TO BE ISSUED UPON THE EXERCISE
OF THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE 1933 ACT AND MAY NOT BE
EXERCISED BY OR ON BEHALF OF ANY U.S. PERSON UNLESS REGISTERED UNDER THE 1933
ACT OR AN EXEMPTION FROM SUCH REGISTRATION INS AVAILABLE.]

Warrant No.                 

IDAHO GENERAL MINES, INC.

(Incorporated under the laws of the State of Idaho)

VOID AFTER 5:00 P.M., SPOKANE, WASHINGTON TIME, ON                 ,
2008

Warrant to Purchase                 Shares
of Common Stock Dated                 ,
2007

WARRANT FOR THE PURCHASE OF
SHARES OF COMMON STOCK

THIS CERTIFIES THAT, FOR VALUE RECEIVED,                                                 
or its registered assign(s) (the “Holder”) is
entitled to purchase from Idaho General Mines, Inc., an Idaho corporation (the “Company”), subject to the terms and
conditions set forth in this Warrant, up to                                 
fully paid and nonassessable shares of common stock (“Common
Stock”), of the Company, at any time commencing on the date
hereof (the “Commencement Date”) and
expiring at 5:00 p.m., Spokane Washington time, on                 ,
2008 (the “Expiration Time”). The price
for each share of Common Stock purchased hereunder (as adjusted as set forth
herein, collectively the “Warrant  Shares”) is $5.20 per share
until expiration of this Warrant (as adjusted as set forth herein, the “Purchase Price”).

The Holder agrees with the Company that this Warrant
is issued, and all the rights hereunder shall be held, subject to all of the
conditions, limitations and provisions set forth herein.

1.             EXERCISE OF WARRANT.

A.            MANNER OF EXERCISE. This Warrant may be exercised in whole
at any time, or in part from time to time, during the period commencing on the
Commencement Date and expiring on the Expiration Time or, if any such day is a
day on which banking institutions in the City of Spokane, Washington, are
authorized by law to close, then on the next succeeding day that shall not be
such a day, by presentation and surrender of this Warrant to the Company at its
principal office with the Purchase Form attached as Annex I (the “Purchase Form”) duly executed and
accompanied by payment (either in cash or by certified or official bank check,
payable to the order of the Company) of the Purchase Price for the number of
shares specified in the Purchase Form and instruments of transfer, if
appropriate, duly executed by the Holder or its duly authorized attorney.

 

B.            CASHLESS EXERCISE.  Notwithstanding
the foregoing in Section 1(A) regarding payment of the Purchase Price in cash
or by check, if the resale of the Warrant Shares is not covered by an effective
registration statement filed with the U.S. Securities and Exchange Commission,
the Holder may elect to receive a reduced number of Warrant Shares in lieu of
tendering the Purchase Price in cash or by check by so indicating in the
Purchase Form.  In such case, the number
of Warrant Shares to be issued to the Holder shall be computed using the
following formula:

X = Y(A-B)

            A

where:    X = the number of Warrant Shares to be
issued to the Holder;

Y = the number of Warrant
Shares to be exercised under this Warrant;

A
= the Closing Price (defined below) per share of Common Stock on the Trading
Day before the Purchase Form and this Warrant are duly surrendered to the
Company for a full or partial exercise hereof; and

B = the Purchase
Price.

“Closing Price” on any Trading Day
means:

(a)                                  if the Common Stock is listed on a national securities exchange or
admitted to unlisted trading privileges on such exchange or quoted on the OTC
Bulletin Board, the last reported sale price of the Common Stock on such
exchange or, if no such sale is made on such day, the average of the closing
bid and asked prices for such day on such exchange; or

(b)                                 if (a) is not applicable, the mean of the last reported bid and asked
prices reported by the National Quotation Bureau, Inc.; or

(c)                                  if neither (a) nor (b) is applicable, an amount determined in such
reasonable manner as may be prescribed by the Board of Directors of the
Company, whose determination shall be conclusive.

“Trading Day” means a day during which trading in securities generally occurs on (i) the American Stock Exchange or principal national security exchange or other quotation system on which the Company’s common stock is quoted or listed or admitted to trading, or (ii) if (i) is not applicable, on the over-the-counter market on the day in question as reported by a generally accepted reporting service, or (iii) if neither (i) nor (ii) are applicable, as determined in good faith by the Company’s board of directors, whose determination shall be conclusive.

C.            STATUS AS HOLDER OF WARRANT SHARES; TAXES; EXPIRATION.  Upon receipt by the Company of this Warrant,
the duly executed Purchase Form and any other appropriate instruments of
transfer, together with the Exercise Price, at its office, the Holder shall be
deemed to be the holder of record of the Warrant Shares issuable upon such exercise,
notwithstanding that the stock transfer books of the Company shall then be
closed or that certificates representing such Warrant Shares shall not then be
actually delivered to the Holder. The Company shall pay any and all documentary
stamp or similar issue taxes payable in respect of the issue or delivery of
Warrant Shares. This Warrant shall become void, and all rights hereunder shall
cease, at the Expiration Time. The Company in its sole discretion may extend
the duration of this Warrant by delaying the Expiration Time.

D.            ISSUANCE OF CERTIFICATES.
As soon as practicable after the exercise of all or any portion of this
Warrant, the Company shall (i) issue to the Holder a certificate or
certificates for the number of full Warrant Shares to which the Holder is
entitled, or, at the Holder’s request, deliver such Warrant Shares
electronically if such means is otherwise presently available to and utilized
by the Company, registered in such name or names as may be directed by the
Holder, and (ii) if this Warrant has not been exercised in full, issue to the
Holder a new countersigned warrant in substantially the same form for the
Warrant Shares as to which this Warrant shall not have been exercised. This
Warrant may not be exercised by, or securities issued to, any Holder in any
state in which such exercise would be unlawful.

 2
 

 

2.             RESERVATION OF SHARES. The Company will at all times reserve
for issuance and delivery upon exercise of this Warrant all Warrant Shares or
other shares of capital stock of the Company (and other securities and
property) from time to time receivable upon exercise of this Warrant. All such
shares (and other securities and property) shall be duly authorized and, when
issued upon such exercise, shall be validly issued, fully paid and nonassessable
and free of all preemptive rights.

3.             NO FRACTIONAL SHARES. No fractional shares or scrip
representing fractional shares shall be issued upon the exercise of this
Warrant. If the holder of this Warrant would be entitled, upon the exercise of
this Warrant, to receive a fractional interest in a share, the Company shall,
upon such exercise, purchase such fractional interest, on the basis of the
Closing Price on the Trading Day before the Purchase Form and this Warrant are
duly surrendered to the Company for a full or partial exercise hereof.

4.             STOCK DIVIDENDS; SPLIT-UPS. If after the issuance of this
Warrant, and subject to the provisions herein the number of outstanding shares
of Common Stock is increased by a stock dividend payable in shares of Common
Stock or by a split-up of shares of Common Stock or other similar event, then,
on the effective day thereof, the number of Warrant Shares shall be increased
in proportion to such increase in outstanding shares and the then applicable
Purchase Price shall be correspondingly decreased.

5.             AGGREGATION OF SHARES. If after the date hereof, and subject
to the provisions herein, the number of outstanding shares of Common Stock is
decreased by a consolidation, combination, reverse stock split, or reclassification
of shares of Common Stock or other similar event, then, after the effective
date of such consolidation, combination or reclassification, the number of
Warrant Shares shall be decreased in proportion to such decrease in outstanding
shares and the then applicable Purchase Price shall be correspondingly
increased.

6.             REORGANIZATION, ETC. If after the date hereof any capital
reorganization or reclassification of the Common Stock, or consolidation or
merger of the Company with another corporation, or the sale of all or
substantially all of its assets to another corporation or other similar event
shall be effected, then, as a condition of such reorganization,
reclassification, consolidation, merger or sale, lawful and fair provision
shall be made whereby the registered holders shall thereafter have the right to
purchase and receive, upon the basis and upon the terms and conditions
specified in this Warrant and in lieu of the securities of the Company
immediately theretofore purchasable and receivable upon the exercise of the
rights represented hereby, such shares of stock, securities or assets as may be
issued or payable with respect to or in exchange for the number of outstanding
shares of such Common Stock equal to the number of shares of Common Stock immediately
theretofore purchasable and receivable upon the exercise of the rights
represented by this Warrant, had such reorganization, reclassification,
consolidation, merger, or sale not taken place and in such event appropriate
provision shall be made with respect to the rights and interests of the
registered holders to the end that the provisions hereof (including, without
limitation, provisions for adjustments of the Purchase Price and the Warrant
Shares) shall thereafter be applicable, as nearly as may be in relation to any
share of stock, securities or assets thereafter deliverable upon the exercise
hereof. The Company shall not effect any such consolidation, merger or sale
unless prior to the consummation thereof the successor corporation (if other
than the Company) resulting from such consolidation or merger, or the
corporation purchasing such assets, shall assume by written instrument executed
and delivered to the Company the obligation to deliver to the registered
holders such shares of stock, securities or assets as, in accordance with the
foregoing provisions, such holders may be entitled to purchase.

7.             FORM OF WARRANT. This Warrant need not be changed because of
any adjustment pursuant to the terms herein, and any form of warrant issued
after such adjustment may state the same Purchase Price and the same number of
shares as is stated in this Warrant. However, the Company may at any time in
its sole discretion make any change in the form of this Warrant that the
Company may deem appropriate and that does not affect the substance thereof,
and any warrant thereafter issued, whether in exchange or substitution for this
Warrant or otherwise, may be in the form as so changed.  The Company agrees to notify the Holder of
any adjustment to the number of shares or Purchase Price of the Warrant, any
changes to the form of this Warrant or any other change pursuant to the terms
herein.

8.             TRANSFER OF WARRANTS. This Warrant and the Warrant Shares
have not been registered under the 1933 Act or similar state laws. This Warrant
and Warrant Shares cannot be sold or transferred by an investor unless

 3
 

 

(i) they are so registered or (ii) an exemption from
registration is available at the time of transfer and, if requested by the
Company, an opinion of counsel satisfactory to the Company to the effect that
such registration is not required is delivered to the Company.  Subject to the foregoing limitations, the
Company shall register the transfer, from time to time, of this Warrant upon
the Company’s warrant register, upon surrender of this Warrant for transfer,
accompanied by a duly executed Assignment Form in the form attached as Annex
II, with signatures properly guaranteed as indicated. Upon any such
transfer, a new warrant or warrants representing the aggregate number of this
Warrant shall be issued and this Warrant shall be cancelled by the Company.

A restrictive legend shall be placed upon each share
certificate acquired upon exercise of this Warrant in substantially the
following form:

THE
SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES
SECURITIES ACT OF 1933, AMENDED (THE “1933 ACT”), OR ANY STATE SECURITIES LAWS.
THESE SECURITIES MAY NOT BE OFFERED, SOLD, PLEDGED, HYPOTHECATED OR OTHERWISE
TRANSFERRED IN THE ABSENCE OF (I) SUCH REGISTRATION OR (II) AN EXEMPTION
THEREFROM AND, IF REQUESTED BY THE COMPANY, AN OPINION OF COUNSEL SATISFACTORY
TO THE COMPANY TO THE EFFECT THAT SUCH REGISTRATION IS NOT REQUIRED [IN
ADDITION, FOR REGULATION S PURCHASERS: OR (III) IN ACCORDANCE WITH THE PROVISIONS
OF REGULATION S UNDER THE 1933 ACT].  [IN
ADDITION, FOR REGULATION S PURCHASERS: HEDGING TRANSACTIONS INVOLVING THESE
SECURITIES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE 1933 ACT.]

The foregoing
legend will be removed from the certificates representing any Warrant Shares,
at the request of the holder thereof, at such time as they become the subject
of an effective resale registration statement or they become eligible for
resale pursuant to Rule 144(k) under the 1933 Act; provided, that such
holder consents to the entry by the Company of stop transfer instructions with
the Company’s transfer agent during any period under which a notice from the
Company of the happening of any event that makes any statement made in such
resale registration statement or related prospectus untrue or which requires
the making of any changes in such resale registration statement or prospectus
so that they will not contain any untrue statement of a material fact or omit
to state any material fact required to be stated therein or necessary to make
the statements therein in light of the circumstances under which they were made
not misleading shall be in effect.

9.             NO  RIGHTS AS STOCKHOLDERS.
Prior to the exercise of this Warrant in accordance with the terms hereof and
payment of the full exercise price therefor, the Holder will not be entitled to
any rights by virtue hereof as a stockholder of the Company, including, without
limitation, the right to vote or to receive dividends or other distributions,
to exercise any preemptive rights, to consent or to receive notice as
stockholders of the Company in respect to the meetings of stockholders or the
election of directors of the Company or any other matter.

10.           LOST, STOLEN, MUTILATED OR DESTROYED WARRANTS. If this
Warrant is lost, stolen, mutilated, or destroyed, the Company may on such terms
as to indemnity or otherwise as it may in its discretion impose (which shall,
in the case of a mutilated Warrant, include the surrender thereof), issue a new
warrant of like denomination, tenor, and date. Any such new warrant shall
constitute a substitute contractual obligation of the Company, whether or not
the allegedly lost, stolen, mutilated, or destroyed Warrant shall be at any
time enforceable by anyone.

11.           GOVERNING LAW. This Warrant shall be governed by and
construed in accordance with the laws of the State of New York without giving
effect to conflicts of laws principles that would require the application of
the law of another jurisdiction.

12.           NOTICES OF CERTAIN ACTIONS. 
In the event:

(a)                                  the Company sets a record date with respect
to the holders of Common Stock for the purpose of entitling or enabling them to
receive any dividend or other distribution, or to receive any right to

 4
 

 

subscribe
for or purchase any shares of stock of any class or any other securities, or to
receive any other right;

(b)                                 the number of outstanding shares of Common
Stock is increased by a stock dividend payable in shares of Common Stock or by
a split-up of shares of Common Stock or other similar event;

(c)                                  the number of outstanding shares of Common
Stock is decreased by a consolidation, combination, reverse stock split, or
reclassification of shares of Common Stock or other similar event;

(d)                                 of
any capital reorganization or reclassification of the Common Stock, or
consolidation or merger of the Company with another corporation, or the sale of
all or substantially all of its assets to another corporation or other similar
event; or

(e)                                  of the voluntary or involuntary dissolution,
liquidation or winding-up of the Company;

then, and in each such
case, the Company will provide written notice (an “Event
Notice”) to the Holder at least ten days prior to (i) the record
date in the case of (a) above, specifying the record date and the amount and
character of such dividend, distribution or right, and (ii) the effective date
of any event specified in clause (b), (c), (d) or (e) above, specifying the
effective date on which such event is to take place, and the time, if any is to
be fixed, as of which the holders of record of Common Stock will be entitled to
exchange their shares of Common Stock for securities or other property
deliverable upon such event, if applicable. 
Any failure to mail an Event Notice required by this Section 12
or any defect therein or in the mailing thereof will not affect the validity of
the corporate action required to be specified in such Event Notice.  Nothing herein shall prohibit the Holder from
exercising this Warrant during the ten day period commencing on the date of an
Event Notice, provided that such exercise occurs prior to the Expiration Time
and the Holder otherwise complies with the terms hereof.

13.           DELIVERY OF  NOTICE. Notices
and other communications to be given to the Holder of this Warrant evidenced by
this certificate shall be deemed to have been sufficiently given, if delivered
or mailed, addressed in the name and at the address of such owner appearing on
the records of the Company, and if mailed, sent registered or certified mail,
postage prepaid. Notices or other communications to the Company shall be deemed
to have been sufficiently given if delivered by hand or mailed, by registered
or certified mail, postage prepaid, to the Company at 10 North Post Street,
Suite 610, Spokane, Washington 99201, Attn: Chief Executive Officer, or at such
other address as the Company shall have designated by written notice to the
registered owner as herein provided. Notice by mail shall be deemed given when
deposited in the United States mail as herein provided.

[The balance of this page intentionally left blank]

 

 5
 

 

IN WITNESS WHEREOF, the Company has caused this
Warrant to be duly executed, manually or in facsimile, by the undersigned
thereunto duly authorized, as of the date first written above.

IDAHO
GENERAL MINES, INC.

By:                                                                          

Name:                                                                     

Title:                                                                       

 

 6

ANNEX I

TO COMMON STOCK PURCHASE WARRANT

PURCHASE FORM

To:                                                                                                                                                                    Dated:                        

The
undersigned, pursuant to the provisions set forth in the attached Warrant
(No.       ) (the “Warrant”),
hereby irrevocably elects to purchase                     
shares of the Common Stock covered by such Warrant.

The
undersigned herewith makes payment of the full exercise price for such shares
at the price per share provided for in such Warrant, which is $                
in lawful money of the United States.

IF
PAYMENT FOR ANY OF THE SHARES TO BE ISSUED HEREUNDER IS PURSUANT TO THE
CASHLESS EXERCISE PROVISION IN SECTION 1(B) OF THE WARRANT, PLEASE PROVIDE THE
FOLLOWING INFORMATION:

Number
of Warrant Shares to be purchased under this Warrant:                                       

Closing Price per share of Common Stock on the Trading
Day before this Purchase Form and the Warrant are surrendered: $                          
as of                                       ,
20    *

Number of shares of Common Stock to be issued to the
undersigned pursuant to the purchase described herein based upon the
calculation in Section 1(B) of the Warrant:                                  *

*
Note: The undersigned understands that this information is provided by the
undersigned solely for informational purposes, and that it is not binding on
the Company for any purpose.  The terms
of the Warrant, and not this Purchase Form, will govern the calculation of these
items and the actual number of shares of Common Stock to be received by the
undersigned pursuant to the purchase of shares of Common Stock hereunder.

[FOR
REGULATION S PURCHASERS:

The
undersigned certifies that (check one):

o  it is
not a U.S. person (as defined in Rule 902 under the U.S. Securities Act of
1933, as amended), and this Warrant is not being exercised on behalf of a U.S.
person; or

o  the
undersigned is delivering herewith a written opinion of counsel to the effect
that this Warrant and the securities delivered upon exercise hereof have been
registered under the U.S. Securities Act of 1933, as amended, or are exempt
from registration thereunder.]

Capitalized
terms used but not defined herein have the meaning assigned to such terms in
the Warrant.

	
  

  	
   

  	
  [Name]

  	
   

  	
   

  
	
  

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  	
  Address:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  

ANNEX
II

TO COMMON STOCK PURCHASE WARRANT

ASSIGNMENT FORM

FOR VALUE RECEIVED,                                                                                 
hereby sells, assigns and transfers all of the rights of the undersigned under
the attached Warrant (No.         )
with respect to the number of shares of Common Stock covered thereby set forth
below, unto:

	
  Name of Assignee

  	
   

  	
  Address

  	
   

  	
   

  	
   

  	
  No. of Shares

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  

 

	
  Dated:

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  [Name]

  	
   

  	
   

  
	
  

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  	
   

  
	
  Signature Guaranteed:

  	
   

  	
   

  	
   

  	
   

  
	
  By: 

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
								

 

The signature should be guaranteed by an eligible guarantor institution
(banks, stockbrokers, savings and loan associations and credit unions with
membership in an approved signature guarantee medallion program) pursuant to
Rule 17Ad-15 under the Securities Exchange Act of 1934.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00123-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00123-of-00352.parquet"}]]