Document:

Filed by Automated Filing Services Inc. (604) 609-0244 - Kirkland Lake Gold Inc. - Exhibit 4.27

The securities to which this agreement relate have not been
registered under the United States Securities Act of 1933,
as amended, or any state securities laws, and such securities may not be offered
or resold in the United States of America or to U.S. Persons (as defined herein)
without registration under such Act and any applicable state securities laws,
unless an exemption from registration is available.

PRIVATE PLACEMENT SUBSCRIPTION AGREEMENT – UNITS
(v.2 - UK) 

To: KIRKLAND LAKE GOLD INC. (the “Company”) 

Re:        Purchase of
securities of the Company

Details of Subscription: The undersigned (the “Subscriber”)
  hereby irrevocably subscribes for and agrees to purchase from the Company, on
  the terms and conditions set forth herein and in the attached schedules, that
  number of units of the Company (“Units”) set out below at a
  price of CDN$ 9.20 per Unit. Each Unit shall consist of one common share of
  the Company (a “Share”) and one-half of one common share purchase
  warrant (each whole warrant being a “Warrant”). Each Warrant
  shall entitle the Subscriber to purchase one Share for a period of 12 months
  at a price of CDN$ 10.50 per Share. The Units subscribed for in this
  Agreement form part of a larger private placement (the “Private Placement”)
  of an aggregate of up to 1,793,478 Units.

	Number to be purchased: 	_______________________________________________________Units
    
	 	 
	Total Subscription Price: 	CDN$ __________________________________________________
	(CDN$ 4.00 per Unit) 	              
      (The minimum is CDN$ 150,000 unless the Subscriber is an
	  	              
      accredited investor or a close personal friend, close business
	  	              
      associate or relative of or is a director or executiveofficer of the 
	  	             
       Company or is resident outside of North America) 
	 	 
	Name of Subscriber: 	_______________________________________________________
    
	  	  
	Address: 	_______________________________________________________
		(Street Address) 
	 	 
	 	_______________________________________________________
	  	(City and Province or State) 
	 	 
	 	_______________________________________________________
	  	(Country and Postal or Zip Code) 
	 	 
	 	_______________________________________________________
	  	(Telephone Number) 
	 	 
	 	_______________________________________________________
		(e-mail Address) 

-2-

If the Subscriber is purchasing as an agent and is not
  purchasing the Units for its own account or one or more accounts that are fully
  managed by it but is purchasing them on behalf of certain principals for which
  it is acting as agent, then each such principal is described below:

  	Name:      _____________________________________	Name:      ______________________________________
	 	 
	Address: _____________________________________	Address: ______________________________________
	                 
         (Street Address) 	               
           (Street Address) 
	 
      	  
	           
             _____________________________________	                 
        ______________________________________
	                 
         (City and Province / State) 	               
           (City and Province / State) 
	 	 
	                 
        _____________________________________	                 
        ______________________________________ 
	                 
         (Country and Postal / Zip Code) 	               
           (Country and Postal / Zip Code) 

  

  	Complete the following registration
        and delivery instructions, if applicable. 
	Registration Instructions: 

        If the certificate(s) representing the securities are to be registered
        

        in other than the name of the Subscriber. 

        

        Name:       _____________________________________

        

        

        Address: ______________________________________

                         
        (Street Address) 

                         
        _____________________________________

        

                         
        _____________________________________

                         
        (City and Province / State) 

        

                         
        _____________________________________

                         
        (Country and Postal / Zip Code) 

        

        
	Delivery Instructions: 

        If the certificate(s) representing the securities are to be delivered
        to someone other than the Subscriber. 

        

        Name:      _____________________________________

        

        Contact Name: _________________________________

        

        Telephone No.: _________________________________

        

        Address: ______________________________________

                         
        (Street Address) 

                         
        _____________________________________

        

                         
        _____________________________________

                         
        (City and Province / State) 

        

                         
        _____________________________________

                         
        (Country and Postal / Zip Code) 

  
    IN WITNESS WHEREOF the Subscriber has executed,
      or caused its duly authorized representative to execute, this Agreement
      as of the ______ day of  ______________________, 2006 

  

  
    	 ________________________________________________	 _____________________________________________
	Signature of Subscriber (if an individual) 	Name of Subscriber (if not an individual) 
	 	 
	           
               _____________________________________	Per:          
          ______________________________________
	                 
          Name of Subscriber (if an individual) 	               
           (signature of authorized representative) 
	 	 
	 	                 
          ______________________________________ 
	 	               
            Name & Title of Authorized Representative 

  

   

-3-

Subscribers must also complete and sign

	
  Schedule I (Accredited Investor Confirmation), if the Subscriber is an
  accredited investor resident in Canada 

  
	
  Schedule II (Confirmation of Relationship – British Columbia &
  Alberta), if the Subscriber is not an accredited investor, but is a
  director, executive officer, control person or founder of the Company
  or a close personal friend, close business associate, spouse, parent,
  grandparent, sibling or child (or a parent, grandparent, sibling or child
  of a spouse) of a director, executive officer, control person or
  founder of the Company and is resident in British Columbia or
  Alberta 

  
	
  Schedule III (Confirmation of Relationship – Ontario), if the Subscriber
  is not an accredited investor, but is a founder or control person of
  the Company or a spouse, parent, grandparent, sibling or child of an
  executive officer, director or founder of the Company and is resident
  in Ontario 

  
	
  Schedule IV (Confirmation by US Subscribers), if the Subscriber is
  resident in the United States of America 

ACCEPTANCE

The foregoing is accepted and agreed to as of the ___________day
  of _________________________________, 2005 

KIRKLAND LAKE GOLD INC.

  

Per:  ______________________________

           Authorized Signatory

SCHEDULE I

ACCREDITED INVESTOR CONFIRMATION

( For accredited investors resident in Canada)

The Subscriber represents and warrants to the Company that the
Subscriber has read the following definition of an “accredited investor”
from National Instrument 45-106 Prospectus and Registration Exemptions
and certifies that the Subscriber is an accredited investor by virtue of falling
into one or more of the categories indicated below: 

(initial as applicable)

	_______	(a) 	 a Canadian financial institution or a Schedule
        III bank;

	 	 	 
	_______	(b) 	 the Business Development Bank of Canada incorporated
        under the Business Development Bank of Canada Act (Canada);

	 	 	 
	_______	(c) 	 a subsidiary of any person referred to
        in paragraphs (a) or (b), if the person owns all of the voting
        securities of the subsidiary, except the voting securities required
        by law to be owned by directors of that subsidiary;

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

	 	 	 
	_______	(e) 	 an individual registered or formerly registered under
        the securities legislation of a jurisdiction of Canada, as a representative
        of a person referred to in paragraph (d);

	 	 	 
	_______	(f) 	 the Government of Canada or a jurisdiction of Canada,
        or any crown corporation, agency or wholly-owned entity of the government
        of Canada or a jurisdiction of Canada;

	 	 	 
	_______	(g) 	 a municipality, public board or commission in Canada
        and a metropolitan community, school board, the Comité de gestion
        de la taxe scolaire de l’île de Montréal or an intermunicipal
        management board in Québec;

	 	 	 
	_______	(h) 	 any national, federal, state, provincial, territorial
        or municipal government of or in any foreign jurisdiction, or any agency
        of that government;

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

	 	 	 
	_______	(j) 	 an individual who, either alone or jointly with a spouse,
        beneficially owns, directly or indirectly, financial assets having
        an aggregate realizable value that before taxes, but net of any related
        liabilities, exceeds CDN$ 1,000,000;

I - 2

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

	 	 	 	 
	_______	(l) 	 an individual who, either alone or with a
        spouse, had net assets of at least CDN$ 5,000,000;

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

	 	 	 	 
	_______	(n) 	 an investment fund that distributes
        or has distributed its securities only to persons that

	 	 	 	 
			(i) 	 are or were accredited investors at the time
        of the distribution,

	 	 	 	 
			(ii) 	 acquire or have acquired as principal securities of
        a single issuer for a purchase price of not less than $150,000 paid in
        cash at the time of purchase, or in the circumstances referred to in section
        2.19 Additional Investment in Investment Funds, or

	 	 	 	 
			(iii) 	 a person described in (i) or (ii) that acquires
        or acquired securities under section 2.18 Investment Fund Reinvestment;

	 	 	 	 
	_______	(o) 	 an investment fund that distributes
        or has distributed its securities under a prospectus in a jurisdiction
        in Canada for which the regulator, or in Québec, the securities regulatory
        authority, has issued a receipt;

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

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

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

	 	 	 	 
	_______	(s) 	 an entity organized in a foreign jurisdiction
        that is analogous to any of the entities referred to in paragraphs (a)
        to (d) and paragraph (i) in form and function;

I - 3

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

	 	 	 	 
	_______	(u) 	 an investment fund that is advised
        by a person registered as an adviser or a person that is
        exempt from registration as an adviser, or

	 	 	 	 
	_______	(v) 	 a person that is recognized or designated
        by the securities regulatory authority or, except in Ontario and Québec,
        the regulator as

	 	 	 	 
			(i) 	 an accredited investor; or

	 	 	 	 
			(ii) 	 an exempt purchaser in Alberta or British Columbia.

For the purposes of the foregoing terms in bold, the
following definitions apply: 

“bank” means a bank named in Schedule I or II of the
Bank Act (Canada). 

“Canadian financial institution” means 

	(a) 	
      an association governed by the Cooperative Credit
      Associations Act (Canada) or a central cooperative credit society for
      which an order has been made under section 473(1) of that Act,
or

	 	 
	(b) 	
      a bank, loan corporation, trust company, trust
      corporation, insurance company, treasury branch, credit union, caisse
      populaire, financial services cooperative, or league that, in each case,
      is authorized by an enactment of Canada or a jurisdiction of Canada to
      carry on business in Canada or a jurisdiction of
Canada.

“control person” means any person that holds or
is one of a combination of persons, acting in concert by virtue of an
agreement, arrangement, commitment or understanding, that holds 

	(a) 	
      a sufficient number of any of the securities of an issuer
      so as to affect materially the control of the issuer, or

	 	 
	(b) 	
      more than 20% of the outstanding voting securities of an
      issuer except where there is evidence showing that the holding of those
      securities does not affect materially the control of the
  issuer.

“director” means

	(a) 	
      a member of the board of directors of a company or
      an individual who performs similar functions for a company,
    and

	 	 
	(b) 	
      with respect to a person that is not a
      company, an individual who performs functions similar to those of a
      director of a company.

“eligibility adviser” means

I - 4

	(a) 	
      a person that is registered as an investment
      dealer or in an equivalent category of registration under the securities
      legislation of the jurisdiction of a purchaser and authorized to give
      advice with respect to the type of security being distributed,
  and

	 	 	 
	(b) 	
      in Saskatchewan or Manitoba, also means a lawyer who is a
      practicing member in good standing with a law society of a jurisdiction of
      Canada or a public accountant who is a member in good standing of an
      institute or association of chartered accountants, certified general
      accountants or certified management accountants in a jurisdiction of
      Canada provided that the lawyer or public accountant must not

	 	 	 
		(i) 	
      have a professional, business or personal relationship
      with the issuer, or any of its directors, executive
      officers, founders, or control persons, and

	 	 	 
		(ii) 	
      have acted for or been retained personally or otherwise
      as an employee, executive officer, director, associate or
      partner of a person that has acted for or been retained by the
      issuer or any of its directors, executive officers,
      founders or control persons within the previous 12
      months.

“executive officer” means, for an issuer, an individual
who is

	(a) 	
      a chair, vice-chair or president,

	 	 
	(b) 	
      a vice-president in charge of a principal business unit,
      division or function including sales, finance or production,

	 	 
	(c) 	
      an officer of the issuer or any of its subsidiaries and
      who performs a policy-making function in respect of the issuer,
  or

	 	 
	(d) 	
      performing a policy-making function in respect of the
      issuer;

“financial assets” means 

	(a) 	
      cash,

	 	 
	(b) 	
      securities, or

	 	 
	(c) 	
      a contract of insurance, deposit or an evidence of a
      deposit that is not a security for the purposes of securities
      legislation.

“founder” means, in respect of an issuer, a person
who,

	(a) 	
      acting alone, in conjunction, or in concert with one or
      more persons, directly or indirectly, takes the initiative in
      founding, organizing or substantially reorganizing the business of the
      issuer, and

	 	 
	(b) 	
      at the time of the trade is actively involved in the
      business of the issuer;

“fully managed account” means an account for which a
person makes the investment decisions if that person has full
discretion to trade in securities for the account without requiring the client’s
express consent to a transaction.

I - 5

“investment fund” means a mutual fund or a
non-redeemable investment fund, and, for greater certainty in British Columbia,
includes an Employee Venture Capital Corporation and a Venture Capital
Corporation; 

“non-redeemable investment fund” means an issuer:

	(a) 	
      whose primary purpose is to invest money provided by its
      securityholders;

	 	 	 
	(b) 	
      that does not invest for the purpose of

	 	 	 
		(i) 	
      exercising or seeking to exercise effective control of an
      issuer other than an issuer which is a mutual fund or a non-redeemable
      investment fund, or

	 	 	 
		(ii) 	
      being actively involved in the management of any issuer
      in which it invests, other than an issuer that is a mutual fund or a
      non-redeemable investment fund, and

	 	 	 
	(c) 	
      that is not a mutual fund.

“person” includes 

	(a) 	
      an individual,

	 	 
	(b) 	
      a corporation,

	 	 
	(c) 	
      a partnership, trust, fund, and an association,
      syndicate, or other organized group of persons, whether incorporated or
      not, and

	 	 
	(d) 	
      an individual or other person in that person’s
      capacity as a trustee, executor, administrator or personal or other
      legal representative.

“related liabilities” means liabilities incurred or
assumed for the purpose of financing the acquisition or ownership of
financial assets and liabilities that are secured by financial
assets.

“Schedule III bank” means an authorized foreign bank
named in Schedule III of the Bank Act (Canada);

“spouse” means an individual who 

	(a) 	
      is married to another individual and is not living
      separate and apart within the meaning of the Divorce Act (Canada),
      from the other individual,

	 	 
	(b) 	
      is living with another individual in a marriage-like
      relationship, including a marriage-like relationship between individuals
      of the same gender, or

	 	 
	(c) 	
      in Alberta, is an individual referred to in paragraph (a)
      or (b), or is an adult interdependent partner within the meaning of the
      Adult Interdependent Relationships Act
(Alberta).

“subsidiary” means an issuer that is controlled directly
or indirectly by another issuer and includes a subsidiary of that
subsidiary.

I - 6

In National Instrument 45-106 

	(a) 	
      an issuer is considered to be an “affiliate” of
      another issuer if one of them is the subsidiary of the other, or
      each of them is controlled by the same person.

	 	 	 
	(b) 	
      a person (the “first person”) is considered to
      “control” another person (the “second person”) if

	 	 	 
		(i) 	
      the first person, directly or indirectly, beneficially
      owns or exercises control or direction over securities of the second
      person carrying votes which, if exercised, would entitle the first person
      to elect a majority of the directors of the second person, unless that
      first person holds the voting securities only to secure an
    obligation,

	 	 	 
		(ii) 	
      the second person is a partnership, other than a limited
      partnership, and the first person holds more than 50% of the interests of
      the partnership, or

	 	 	 
		(iii) 	
      the second person is a limited partnership and the
      general partner of the limited partnership is the first
  person.

The foregoing representations and warranties are true an
accurate as of the date of this certificate and will be true and accurate as of
Closing. If any such representations and warranties shall not be true and
accurate prior to Closing, the Subscriber shall give immediate written notice of
such fact to the Company.

DATED at _________________________________on ________________________________________,
  2006

	 	 
	 	Name of Subscriber - please print 
	 	 
	 	 
	 	Authorized Signature 
	 	 
	 	 
	 	Official Capacity - please print 
	 	 
	 	 
	 	Please print name of individual whose signature
      appears above, if different from name of Subscriber printed above 

SCHEDULE II

CONFIRMATION OF RELATIONSHIP – British Columbia &
Alberta

(For Subscribers who are NOT accredited investors 
but ARE
a director, executive officer, control person or founder of the Company 
or a
close personal friend, close business associate, spouse, parent, grandparent,
sibling or child 
(or a parent, grandparent, sibling or child of a spouse) of
a director, executive officer, control 
person or founder of the Company and
are resident in British Columbia or Alberta )

The Subscriber represents and warrants to the Company that the
Subscriber has read the following definitions from National Instrument 45-106
Prospectus and Registration Exemptions and certifies that the Subscriber
has the relationship(s) to the Company or its directors, executive
officers, control persons or founders by virtue of the
Subscriber being: 

(initial one or more as applicable)

	_______	(a) 	 a director, executive officer or control
        person of the Company, or of an affiliate of the Company;

	 	 	 
	_______	(b) 	 a spouse, parent, grandparent, brother, sister
        or child of a director, executive officer or control
        person of the Company, or of an affiliate of the Company;

	 	 	 
	_______	(c) 	 a parent, grandparent, brother, sister or child of the
        spouse of a director, executive officer or control
        person of the Company, or of an affiliate of the Company;

	 	 	 
	_______	(d) 	 a close personal friend of a director,
        executive officer or control person of the Company, or of
        an affiliate of the Company;

	 	 	 
	_______	(e) 	 a close business associate of a director,
        executive officer or control person of the Company, or of
        an affiliate of the Company;

	 	 	 
	_______	(f) 	 a founder of the Company or a spouse,
        parent, grandparent, brother, sister, child, close personal friend
        or close business associate of a founder of the Company;

	 	 	 
	_______	(g) 	 a parent, grandparent, brother, sister, child of the
        spouse of a founder of the Company;

	 	 	 
	_______	(h) 	 a person of which a majority of the voting securities
        are beneficially owned by, or a majority of the directors are,
        persons described in paragraphs (a) to (g); or

	 	 	 
	_______	(i) 	 a trust or estate of which all of the beneficiaries
        or a majority of the trustees are persons or companies described in paragraphs
        (a) to (g).

and if any of (b) through (i) is initialled, the
director, executive officer, control person or
founder is:

_______________________________________________________________________
(Print
name of director, executive officer, control person or founder)

For the purposes of the foregoing terms in bold, the
definitions in Schedule I and the following guidance apply: 

II - 2

“close business associate” is an individual who has had
sufficient prior business dealings with the director, executive
officer, founder or control person to be in a position to
assess their capabilities and trustworthiness.

An individual is not a close business associate solely because
the individual is a current or former client or customer.

The relationship between the individual and the
director, executive officer, founder or control person
must be direct. For example, the exemption is not available for a close
business associate of a close business associate of a director,
executive officer, founder or control person.

“close personal friend” is an individual, including a
family member not listed above, who has known the director, executive
officer, founder or control person for a sufficient period of
time to be in a position to assess their capabilities and trustworthiness. 

An individual is not a close personal friend solely because the
individual is a relative, a member of the same organization, association or
religious group or a current or former client or customer.

The relationship between the individual and the
director, executive officer, founder or control person
must be direct. For example, the exemption is not available for a close
personal friend of a close personal friend of the director, executive
officer, founder or control person.

The foregoing representations and warranties are true an
accurate as of the date of this certificate and will be true and accurate as of
Closing. If any such representations and warranties shall not be true and
accurate prior to Closing, the Subscriber shall give immediate written notice of
such fact to the Company.

DATED at ________________________________ on __________________________________________,
  2006

	 	 
	 	Name of Subscriber - please print 
	 	 
	 	 
	 	Authorized Signature 
	 	 
	 	 
	 	Official Capacity - please print 
	 	 
	 	 
	 	Please print name of individual whose signature
      appears above, if different from name of Subscriber printed above 

SCHEDULE III

CONFIRMATION OF RELATIONSHIP – Ontario 

(For Subscribers who are NOT accredited investors 
but ARE
a founder or control person of the Company
 or a spouse, parent, grandparent,
sibling or child of an executive officer, director or founder 
of the Company
and are resident in Ontario)

The Subscriber represents and warrants to the Company that the
Subscriber has read the following definitions from National Instrument 45-106
Prospectus and Registration Exemptions and certifies that the Subscriber
has the relationship(s) to the Company or its directors, executive
officers, control persons or founders by virtue of the
Subscriber being: 

(initial one or more as applicable)

	_______	(a) 	 a founder of the Company;

	 	 	 
	_______	(b) 	 an affiliate of a founder of the Company;

	 	 	 
	_______	(c) 	 a spouse, parent, grandparent, brother, sister
        or child of a director, executive officer or founder
        of the Company; or

	 	 	 
	_______	(d) 	 a control person of the Company.

and if (c) is initialled, the director, executive
officer or founder is:

_____________________________________________________
(Print
name of director, executive officer or founder)

For the purposes of the foregoing terms in bold, the
definitions in Schedule I apply. 

The foregoing representations and warranties are true an
accurate as of the date of this certificate and will be true and accurate as of
Closing. If any such representations and warranties shall not be true and
accurate prior to Closing, the Subscriber shall give immediate written notice of
such fact to the Company.

DATED at ________________________________ on __________________________________________,
  2006

	 	 
	 	Name of Subscriber - please print 
	 	 
	 	 
	 	Authorized Signature 
	 	 
	 	 
	 	Official Capacity - please print 
	 	 
	 	 
	 	Please print name of individual whose signature
      appears above, if different from name of Subscriber printed above 

SCHEDULE IV

CONFIRMATION BY US SUBSCRIBERS

(For Subscribers resident in the United States of
America)

The Subscriber hereby represents and warrants to the Company
that the Subscriber:

(initial as applicable)

	 _______ 
	 was not offered the
        Units and did not execute this Agreement in the United States of America
        (a “Reg S Subscriber”); 

- or -

	_______ 	 was offered the Units or executed
        this Agreement in the United States of America and is an Accredited Investor,
        as defined in Rule 501(a) of Regulation D of the Securities Act of
        1933 (United States), (a “Rule 506 Subscriber”) by
        virtue of satisfying one or more of the categories indicated below: 

	 	  

	 	 (initial as applicable)
      

	 	_______ 	(a) 	 An organization described in section 501(c)(3) of the
        United States Internal Revenue Code, a corporation, a Massachusetts or
        similar business trust or partnership, not formed for the specific purpose
        of acquiring the Units, with total assets in excess of US$ 5,000,000;

	 	 	 	 
	 	_______ 	(b) 	 A natural person whose individual net worth, or joint
        net worth with that person’s spouse, at the date hereof exceeds US$
        1,000,000;

	 	 	 	 
	 	_______ 	(c) 	 A natural person who had an individual income in excess
        of US$ 200,000 in each of the two most recent years or joint income with
        that person’s spouse in excess of US$ 300,000 in each of those years
        and has a reasonable expectation of reaching the same income level in
        the current year;

	 	 	 	 
	 	_______ 	(d) 	 A trust that (a) has total assets in excess of US$ 5,000,000,
        (b) was not formed for the specific purpose of acquiring the Offered Securities,
        and (c) is directed in its purchase of securities by a person who has
        such knowledge and experience in financial and business matters that they
        are capable of evaluating the merits and risks of an investment in the
        Units;

	 	 	 	 
	 	_______ 	(e) 	 An investment company registered under the Investment
        Corporation Act of 1940 (United States) or a business development
        company as defined in section 2(a)(48) of that Act;

IV - 2

	 	_______ 	(f) 	 Small Business Investment Corporation licensed by the
        U.S. Small Business Administration under section 301(c) or (d) of theSmall
        Business Investment Act of 1958 (United States);

	 	 	 	 
	 	_______ 	(g) 	 A private business development company as defined in
        section 202(a)(22) of the Investment Advisors Acts of 1940 (United
        States); or

	 	 	 	 
	 	_______ 	(h) 	 An entity in which all of the equity owners satisfy
        the requirements of one or more of the foregoing categories.

DATED at ________________________________ on __________________________________________,
  2006

	 	 
	 	Name of Subscriber - please print 
	 	 
	 	 
	 	Authorized Signature 
	 	 
	 	 
	 	Official Capacity - please print 
	 	 
	 	 
	 	Please print name of individual whose signature
      appears above, if different from name of Subscriber printed above 

SCHEDULE V

TERMS & CONDITIONS

1.      Description of
Securities

The securities subscribed for hereunder are units
(“Units”), each Unit consisting of one common share of the Company
(collectively the “Shares”) and one-half of one common share purchase
warrant (each whole warrant being a “Warrant” and collectively the
“Warrants”). Each Warrant shall entitle the holder thereof to purchase
one common share of the Company (collectively the “Warrant Shares”), as
presently constituted, during the period and for the price described on the
first page of this Agreement. The foregoing description of the Warrants is a
summary only and is subject to the detailed provisions of the certificates
representing the Warrants. The Units, Shares, Warrants and Warrant Shares are
herein collectively referred to as the “Securities”.

The Securities will be subject to a restricted resale (hold)
period imposed by National Instrument 45-102 Resale of
Securities of the Canadian Securities Administrators (the
“Resale Instrument”) during which they may be resold in
Canada only in compliance with the Resale Instrument. Such restricted resale
period will expire at 11:59 p.m. on the four month anniversary of the Closing
Date (as defined in paragraph 4). Subscribers are advised to consult their own
legal advisers in connection with any applicable resale restrictions. 

2.      Payment of
Subscription Amount

The total Subscription Amount set out on the first page of this
Private Placement Subscription Agreement (the “Agreement”) must be paid,
on or before the Closing Date, by money order, certified cheque, bank draft or
wire transfer payable to the Company’s legal counsel, Northwest Law Group, in
trust, (Attention: Michael F. Provenzano). Such aggregate Subscription Amount
shall be allocated to the Shares and Warrants on the basis of CDN$ 0.01 to all
of the Warrants and the balance to the Shares.

3.      Documents
Required

The Subscriber must complete, sign and deliver to the Company’s
legal counsel, Northwest Law Group (Attention: Michael F. Provenzano), at the
address set out in paragraph 4, an executed copy of this Agreement together with
the following Schedules to this Agreement:

	 	(a) 	
      Schedule I, Accredited Investor Confirmation, if the
      Subscriber is an accredited investor resident in Canada;

	 	 	 
	 	(b) 	
      Schedule II, Confirmation of Relationship – British
      Columbia & Alberta, if the Subscriber is not an accredited investor
      but is a director, executive officer, control person or founder of the
      Company or a close personal friend, close business associate, spouse,
      parent, grandparent, sibling or child (or a parent, grandparent, sibling
      or child of a spouse) of a director, executive officer, control person or
      founder of the Company and is resident in British Columbia or
    Alberta;

	 	 	 
	 	(c) 	
      Schedule III, Confirmation of Relationship – Ontario, if
      the Subscriber is not an accredited investor but is a founder or control
      person of the Company or a spouse, parent, grandparent, sibling or child
      of a director, executive officer or founder of the Company and is resident
      in Ontario; and

V - 2

	 	(d) 	
      Schedule IV, Confirmation by US Subscribers, if the
      Subscriber is resident in the United States of
America.

The Subscriber must complete, sign and deliver to the Company’s
legal counsel, Northwest Law Group (Attention: Michael F. Provenzano), as soon
as possible after being requested therefor and within any applicable time
limits, such further documents, questionnaires, notices and undertakings as may
be required by regulatory authorities, stock exchanges and applicable law and
will assist the Company with the preparation and filing thereof.

4.     
Closing

Delivery of and payment for the Units (the “Closing”)
will be completed at the offices of the Company’s legal counsel: 

Northwest Law Group 
Barristers
& Solicitors
Suite 1880, Royal Centre 
1055 West Georgia Street

Vancouver, British Columbia

at 10:00 a.m. (Vancouver time) on the second business day (the
“Closing Date”) after the later of that day on which the Toronto Stock
Exchange (the “Exchange”) has given its approval to the Private Placement
and the Company has received sufficient subscriptions to complete the first, or
a subsequent, tranche of the Private Placement. 

On the Closing Date, certificates representing the Shares and
Warrants will be sent to the Subscriber against payment to the Company of the
total Subscription Amount in Canadian funds for the Units.

5.      Acknowledgements
of Subscriber

The Subscriber acknowledges that:

	 	(a) 	
      the Units are being offered for sale only on a ‘private
      placement’ basis and the Company has advised the Subscriber that the
      Company is relying on exemptions (and such sales are conditional upon the
      existence of such exemptions or the receipt of such orders, consents and
      approvals as are necessary to make such sales exempt) from the
      requirements to provide the Subscriber with a prospectus or offering
      memorandum and to sell securities through a person registered to sell
      securities under the Securities Act (British Columbia),
      Securities Act (Alberta) and Securities Act (Ontario)
      (together with the respective rules, policies, instruments and orders
      thereunder, the “BC Act”, “Alberta Act” and “Ontario
      Act”, respectively), as the case may be, and, as a consequence of
      acquiring securities pursuant to these exemptions

	 	 	 	 
	 		(i) 	
      certain protections, rights and remedies provided by such
      securities legislation, including statutory rights of rescission or
      damages, will not be available to the Subscriber,

	 	 	 	 
	 		(ii) 	
      information that would otherwise be provided to the
      Subscriber under such securities legislation will not be provided to it,
      and

V - 3

	 	(iii) 	
      the Company is relieved from various obligations under
      such securities legislation that would otherwise apply to
  it;

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

	 	 	 	 
	 	(c) 	
      there is no government or other insurance covering the
      Securities;

	 	 	 	 
	 	(d) 	
      there are risks associated with the purchase of the
      Securities;

	 	 	 	 
	 	(e) 	
      there are restrictions on the Subscriber’s ability to
      resell the Securities and

	 	 	 	 
	 		(i) 	
      it is the responsibility of the Subscriber to find out
      what those restrictions are and to comply with them before selling the
      Securities,

	 	 	 	 
	 		(ii) 	
      it may not be possible to liquidate the Subscriber’s
      investment readily in case of any emergency, and

	 	 	 	 
	 		(iii) 	
      pursuant to the Resale Instrument, the Securities will be
      subject to restrictions on transfer for a period of four months from the
      Closing Date in Canada and legends will be placed upon the certificates
      representing the Securities to the effect that the securities represented
      thereby are subject to a hold or restricted resale period and may not be
      traded until the expiry thereof except as permitted under the Resale
      Instrument, the policies of the Exchange and any other applicable
      securities legislation, rules or policies;

	 	 	 	 
	 	(f) 	
      it is solely responsible for obtaining such legal, tax
      and other advice as is appropriate in connection with the execution,
      delivery and performance of this Agreement and the transactions
      contemplated hereunder and the Company’s counsel, Michael Provenzano, of
      Northwest Law Group is acting solely for the Company in connection with
      the Private Placement and the Subscriber may not rely upon such counsel in
      any respect;

	 	 	 	 
	 	(g) 	
      its decision to execute this Agreement and acquire the
      Units has not been based on any oral or written representation made by or
      on behalf of the Company or any finder (a “Finder”) who might have
      introduced the Subscriber to the Company and the Company has not provided
      any offering memorandum, prospectus, disclosure statement or registration
      statement to the Subscriber but such decision is based entirely upon the
      Subscriber’s review of information which has been filed by the Company
      with the various Canadian securities commissions under applicable
      securities legislation and the Exchange (the “Public Record”),
      including the Company’s most recent audited annual and unaudited interim
      financial statements (collectively the “Financial Statements”), and
      the Subscriber’s knowledge of the Company’s affairs, and the Subscriber
      has had the opportunity to ask questions of the Company and its advisors
      regarding the Company and its business and financial condition and, as a
      result of all of the foregoing, the Subscriber believes that it has
      received all the information which it considers necessary for deciding
      whether to invest in the Units;

	 	 	 	 
	 	(h) 	
      although a Finder may have introduced the Subscriber to
      the Company, the Subscriber and the Company acknowledge and agree with,
      and for the benefit of, the Finder (such

V - 4

acknowledgements and agreements to
survive the Closing) that the Finder and its directors, officers, employees,
agents and representatives 

	 	(i) 	
      have no responsibility or liability of any nature
      whatsoever for the accuracy or adequacy of the information contained in
      this Agreement, the Public Record or any other publicly available
      information concerning the Company or as to whether all information
      concerning the Company required to be disclosed by it has generally been
      disclosed,

	 	 	 
	 	(ii) 	
      have not engaged in any independent investigation or
      verification with respect to this subscription or any such information,
      and

	 	 	 
	 	(iii) 	
      are released from any claims that may arise in respect of
      this Agreement, except those arising from their wilful act or
      negligence;

	 	(i) 	
      the Company is entitled to rely on the statements and
      answers of the Subscriber contained in this Agreement and in the Schedules
      to this Agreement and the Subscriber will hold the Company and any Finder
      harmless from any loss or damage they may suffer as a result of the
      Subscriber’s failure to correctly complete this Agreement and such
      Schedules;

	 	 	 
	 	(j) 	
      this Agreement is not enforceable by the Subscriber
      unless it has been accepted by the Company, it has been entered into by
      the Subscriber for valuable consideration and may not be revoked or
      withdrawn by the Subscriber and it is not assignable by the Subscriber
      without the written consent of the Company which consent may be
      unreasonably withheld;

	 	 	 
	 	(k) 	
      the Securities have not been and will not be registered
      under the United States Securities Act of 1933, as amended (the
      “1933 Act”) or under any state securities or ‘blue sky’ laws, and
      the Company has no obligation or present intention of filing a
      registration statement under the 1933 Act in respect of the
    Securities;

	 	 	 
	 	(l) 	
      if the Subscriber is either a Rule 506 Subscriber or a
      Reg S Subscriber, the sale of the Units is being made in reliance on
      private placement exemptions pursuant to Rule 506 of the 1933 Act or Rule
      903 of Regulation S of the 1933 Act, respectively;

	 	 	 
	 	(m) 	
      the Securities will be ‘restricted securities’ under the
      1933 Act since they are being acquired from the Company in a transaction
      not involving a public offering and, therefore, cannot be offered or sold
      in the United States of America without registration under the 1933 Act
      and the securities laws of all applicable states of the United States of
      America, unless an exemption from registration is available or
      registration is not required pursuant to Regulation S under the 1933
      Act;

	 	 	 
	 	(n) 	
      if the Subscriber is either a Rule 506 Subscriber or a
      Reg S Subscriber, the certificates representing any of the Shares and
      Warrant Shares (and all certificates issued in exchange therefor or in
      substitution thereof) shall bear, upon the issuance thereof, and unless
      and until such time as the same is no longer required under the applicable
      requirements of the 1933 Act or applicable state securities laws and
      regulations of the United States of America, on the face of such
      certificates, the following legend:

V - 5

  
    
      
        
          “THE SECURITIES EVIDENCED BY THIS CERTIFICATE
            HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT
            OF 1933, AS AMENDED, (THE “1933 ACT”) OR ANY APPLICABLE
            STATE SECURITIES LAW. NO INTEREST THEREIN MAY BE SOLD, DISTRIBUTED,
            ASSIGNED, OFFERED, PLEDGED OR OTHERWISE TRANSFERRED OR DISPOSED OF
            WITHOUT (A) AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT AND
            APPLICABLE UNITED STATES STATE SECURITIES LAWS COVERING ANY SUCH TRANSACTION,
            OR (B) AN AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF
            THE 1933 ACT.”

        

      

    

  

	 	(o) 	
      if the Subscriber is either a Rule 506 Subscriber or a
      Reg S Subscriber, the Warrants may only be exercised in circumstances
      where there is an exemption from the registration requirements of the 1933
      Act available and applicable state securities laws of the United States of
      America and upon the original issue of the Warrants each certificate
      representing the Warrants and all certificates issued in exchange therefor
      or in substitution or transfer thereof, shall bear the following
      legend:

  
    
      
        
          “THESE WARRANTS AND THE SECURITIES ISSUABLE
            UPON EXERCISE OF THESE WARRANTS HAVE NOT BEEN REGISTERED UNDER THE
            UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “1933
            ACT”) OR ANY APPLICABLE STATE SECURITIES LAWS. THESE WARRANTS
            MAY NOT BE EXERCISED BY OR ON BEHALF OF A U.S. PERSON OR PERSON WITHIN
            THE UNITED STATES UNLESS REGISTERED UNDER THE 1933 ACT AND ANY APPLICABLE
            STATE SECURITIES LAWS OR UNLESS AN EXEMPTION FROM SUCH REGISTRATION
            IS AVAILABLE. AS USED HEREIN, THE TERMS ‘UNITED STATES’
            AND ‘U.S. PERSON’ HAVE THE MEANINGS ASSIGNED TO THEM IN
            REGULATION S UNDER THE 1933 ACT.”

        

      

    

  

	 	(p) 	
      the Financial Statements have been prepared in accordance
      with Canadian generally accepted accounting principles, which differ in
      some respects from United States generally accepted accounting principles,
      and thus may not be comparable to financial statements of United States
      companies; and

	 	 	 
	 	(q) 	
      pending the approval of the Private Placement by all
      securities regulatory authorities having jurisdiction and the Closing, the
      Subscription Funds shall be held in trust by the Company’s legal counsel,
      Northwest Law Group. Any interest income from the Subscription Funds shall
      be for the account of the Company regardless of whether the Private
      Placement is approved by such regulatory authorities. Should such
      regulatory authorities not approve the Private Placement the Subscription
      Funds shall be repaid to the Subscriber on demand without interest or
      deduction.

6.      Representations,
Warranties and Covenants of the Subscriber

V - 6

The Subscriber hereby represents and warrants to and covenants
with the Company (which representations, warranties and covenants shall survive
Closing) that:

	 	(a) 	
      if the Subscriber is purchasing the Units as principal
      for its own account, it is

	 	 	 	 
	 		(i) 	
      purchasing such securities for investment only and not
      for the benefit of any other person or for resale, distribution or other
      disposition of the Securities; and

	 	 	 	 
	 		(ii) 	
      purchasing a sufficient number of Securities that the
      aggregate acquisition cost is not less than CDN$ 150,000; or

	 	 	 	 
	 		(iii) 	
      an ‘accredited investor’ as evidenced on the completed
      Schedule I, Accredited Investor Confirmation, delivered with this
      Agreement; or

British Columbia & Alberta
Subscribers

	 	(iv) 	
      resident in British Columbia or Alberta and is a
      director, executive officer, control person or founder of the Company or a
      close personal friend, close business associate, spouse, parent,
      grandparent, sibling or child (or a parent, grandparent, sibling or child
      of a spouse) of a director, executive officer, control person or founder
      of the Company resident in British Columbia or Alberta as evidenced on the
      completed Schedule II, Confirmation of Relationship – British Columbia
      & Alberta, delivered with this Agreement.

-or-

Ontario Subscribers

	 	(v) 	
      resident in Ontario and is a founder or control person of
      the Company or a spouse, parent, grandparent, sibling or child of a
      director, executive officer or founder of the Company resident in Ontario
      as evidenced on the completed Schedule III, Confirmation of Relationship –
      Ontario, delivered with this Agreement.

-or-

United States
Subscribers

	 	(vi) 	
      resident in the United States of America, or is otherwise
      subject to the securities laws thereof;

	 	 	 
	 	(vii) 	
      an Accredited Investor as set out in the completed
      Schedule V, Confirmation by US Subscribers, delivered with this Agreement,
      if the Subscriber is a Rule 506 Subscriber;

	 	 	 
	 	(viii) 	
      not a party to any contract, undertaking, agreement or
      arrangement with any person to sell, transfer or pledge to such person, or
      anyone else, the Securities, or any part thereof, or any interest therein
      and the Subscriber has no present plans to enter into any such contract,
      undertaking, agreement or arrangement;

V - 7

	 	(ix) 	
      not planning to offer, sell or otherwise transfer any of
      the Securities, and, if it does, it will not offer, sell or otherwise
      transfer any of the Securities, directly or indirectly, unless the sale
      is:

	 	 	 	 
	 		(A) 	
      to the Company;

	 	 	 	 
	 		(B) 	
      made outside the United States in a transaction meeting
      the requirements of Rule 904 of Regulation S under the 1933 Act (or such
      rule or regulation promulgated by the Securities and Exchange Commission
      of the United States of America as is then in effect) and in compliance
      with applicable local laws and regulations; or

	 	 	 	 
	 		(C) 	
      made in a transaction that does not require registration
      under the 1933 Act or any applicable United States state securities laws
      and regulations governing the offer and sale of securities and the
      Subscriber has furnished to the Company, prior to such sale, an opinion of
      counsel of recognized standing reasonably satisfactory to the Company
      confirming the compliance of such sale with the 1933 Act and applicable
      state securities laws of the United States of America;

	 	 	 	 
	 	(x) 	
      not engaging and will not engage in any ‘directed selling
      efforts’ (as defined in Regulation S of the 1933 Act) in the United States
      of America in respect of the resale of the Securities, which includes any
      activities undertaken for the purpose of, or that could reasonably be
      expected to have the effect of, conditioning the market in the United
      States for the resale of the Securities; and

	 	 	 	 
	 	(xi) 	
      not subscribing for the Units as a result of any form of
      ‘general solicitation’ or ‘general advertising’ (as those terms are used
      in Regulation D under the 1933 Act), including advertisements, articles,
      notices or other communications published in any newspaper, magazine or
      similar media or broadcast over radio or television, or other form of
      telecommunications, including electronic display, or any seminar or
      meeting whose attendees have been invited by general solicitation or
      general advertising.

- or -

United Kingdom
Subscribers

	 	(xii) 	
      resident in the United Kingdom;

	 	 	 
	 	(xiii) 	
      a member of one of the categories of applicable English
      law in respect of which stamp duty or stamp duty reserve tax is not
      payable;

	 	 	 
	 	(xiv) 	
      not subscribing for the Units as nominee or agent of, and
      is not itself, a person who is or may be liable to notify and account for
      stamp duty or stamp duty reserve tax at any of the increased rates
      referred to in sections 67 to 72 inclusive and sections 93 to 97A
      inclusive of the Finance Act 1986 (Depositary Receipts and Clearance
      Services) and, in the event of any breach of this
  representation

V - 8

	 		
      and warranty, neither the Company nor any Finder will
      have any liability to the Subscriber or other persons in respect of such
      duty or tax;

	 	 	 
	 	(xv) 	
      of the kind of investor described in section 86(7) of the
      Financial Services and Markets Act 2000 (the “FSMA”) and
      falls within one or more of the categories of investors set out in Article
      19 (Investment Professionals) or Article 49 (high net worth companies,
      unincorporated associations, etc.) of the Financial Services and
      Markets Act 2000 (Financial Promotion) Order 2005 or are a person
      otherwise lawfully authorized to receive such financial
  promotions;

	 	 	 
	 	(xvi) 	
      purchasing the Units for investment only and will not
      make any offer to the public thereof as described in Schedule 11 to the
      FSMA;

	 	 	 
	 	(xvii) 	
      aware any Finder is not acting for the Subscriber and it
      does not expect the Finder to have any duties or responsibilities towards
      Subscriber for providing the protections afforded to customers or clients
      under the Conduct of Business Source Book of the Financial Services
      Authority (“FSA”) or advising the Subscriber with regard to the
      Private Placement, and the Subscriber is not, and will not be, a customer
      or client of the Finder as defined by the FSA Conduct of Business
      Sourcebook and the Finder will not treat any payment by the Subscriber
      pursuant to this Agreement as client money governed by the FSA

	 	 	 
	 		
      Conduct of Business Source Book; and

	 	 	 
	 	(xviii) 	
      aware of its obligations under the Criminal Justice
      Act 1993 and, in connection with money laundering, under the Money
      Laundering Regulations 2003, the Proceeds of Crime Act 2003 and
      the Money Laundering Sourcebook of the Rules of the FSA (collectively, the
      “Regulations”) and it has identified its clients in accordance with
      the Regulations and complied with its obligations pursuant to the
      Regulations.

-or-

Other Subscribers

	 	(xix) 	
      resident in a jurisdiction other than any of the
      foregoing, as set out on the first page of this
  Agreement.

	 	(b) 	
      if it is not purchasing the Units for its own account but
      for one or more accounts that permit the Subscriber to purchase securities
      on behalf of such accounts in the Subscriber’s sole discretion without
      reference to, or specific instructions regarding such investment from, the
      holders of such accounts (commonly called ‘fully managed’ accounts), the
      Subscriber is duly authorized to enter into this Agreement and complete
      the transactions contemplated hereby and is:

	 	 	 	 
	 		(i) 	
      a trust company or an insurance company which has
      received a business authorization under the Financial Institutions Act
      (British Columbia) or is authorized under the laws of another province
      of Canada to carry on such business in such other province and the
      Subscriber is purchasing such securities as an agent or trustee for
      accounts that are fully managed by it; or

V - 9

	 	(ii) 	
      an adviser managing the investment portfolios of clients
      through discretionary authority granted by one or more clients, and is
      either (1) registered as such an adviser under the BC Act, Alberta Act or
      the laws of another province of Canada or is exempt from such
      registration, or (2) in a jurisdiction other than Canada and, in either
      (1) or (2), is purchasing securities as an agent for accounts that are
      fully managed by it; and

	 	 	 
	 	(iii) 	
      resident in British Columbia, Alberta or Ontario and the
      aggregate acquisition cost for such securities is not less than CDN$
      150,000; or

	 	 	 
	 	(iv) 	
      resident outside of Canada and purchasing the Units in
      accordance with the laws of its jurisdiction of residence and, if that
      jurisdiction is the United Kingdom, it satisfies and makes the
      representations and warranties set out in paragraph (a) under the heading
      ‘United Kingdom Subscribers’ or the account holders are persons of the
      kind described in described in section 86(7) of the
FSMA;

	 	(c) 	
      if it is not purchasing the Units for its own account or
      one or more accounts that are ‘fully managed’ by it but is purchasing them
      on behalf of certain principals for which it is acting as agent, the
      Subscriber is duly authorized to enter into this Agreement and complete
      the transactions contemplated hereby and each such principal:

	 	 	 	 
	 		(i) 	
      is disclosed on the execution page at the beginning of
      this Subscription Agreement;

	 	 	 	 
	 		(ii) 	
      is purchasing as principal for its own account as an
      investment and not for the benefit of any other person or with a view to
      the resale, distribution or other disposition of the Securities;
  and

	 	 	 	 
	 		(iii) 	
      satisfies the conditions and makes the representations
      and warranties set out in paragraph (a), as applicable,

	 	 	 	 
	 		
      and the Subscriber acknowledges that the Company is
      required by law to disclose to certain regulatory authorities the identity
      of each such principal for whom it is acting and consents to such
      disclosure;

	 	 	 	 
	 	(d) 	
      if the Subscriber is not an individual or a corporation
      and is purchasing securities for not less than CDN$ 150,000, each member
      of the partnership, syndicate or other unincorporated organization which
      is the beneficial purchaser, or each beneficiary of the trust which is the
      beneficial purchaser, as the case may be, is an individual who has an
      aggregate acquisition cost for the Units of at least CDN$ 150,000 if
      resident in British Columbia, Alberta or Ontario;

	 	 	 	 
	 	(e) 	
      unless the subscriber is a Reg S Subscriber or Rule 506
      Subscriber, the subscriber is not a U.S. Person or a person in the United
      States and is not acquiring the Units for the account or benefit of a U.S.
      Person or a person in the United States. A ‘U.S. Person’ is defined in
      Regulation S under the 1933 Act to be any person who is

	 	 	 	 
	 		(i) 	
      any natural person resident in the United
  States,

V - 10

	 	(ii) 	
      any partnership or corporation organized or incorporated
      under the laws of the United States,

	 	 	 	 
	 	(iii) 	
      any estate of which any executor or administrator is a
      U.S. Person,

	 	 	 	 
	 	(iv) 	
      any trust of which any trustee is a U.S.
Person,

	 	 	 	 
	 	(v) 	
      any agency or branch of a foreign entity located in the
      United States,

	 	 	 	 
	 	(vi) 	
      any non-discretionary account or similar account (other
      than an estate or trust) held by a dealer or other fiduciary organized,
      incorporated or, if an individual, resident in the United States,
    and

	 	 	 	 
	 	(vii) 	
      any partnership or corporation if

	 	 	 	 
	 		(A) 	
      organized or incorporated under the laws of any foreign
      jurisdiction, and

	 	 	 	 
	 		(B) 	
      formed by a U.S. Person principally for the purpose of
      investing in securities not registered under the 1933 Act, unless it is
      organized or incorporated, and owned, by ‘Accredited Subscribers’ (as
      defined in Section 230.501(a) of the 1933 Act) who are not natural
      persons, estates or trusts;

	 	(f) 	
      the Subscriber is not acquiring the Units as a result of
      any information about the material affairs of the Company that is not
      generally known to the public except knowledge of this particular
      transaction;

	 	 	 
	 	(g) 	
      pursuant to the Resale Instrument and the policies of the
      Exchange the Subscriber will not transfer the Securities for a period of
      four months from the Closing Date except in compliance with the Resale
      Instrument and the policies of the Exchange and will comply with such
      notice and other requirements under applicable securities legislation upon
      disposition;

	 	 	 
	 	(h) 	
      neither the Subscriber nor any party on whose behalf it
      is acting has been created, established, formed or incorporated solely, or
      is used primarily, to acquire securities or to permit the purchase of the
      Units without a prospectus in reliance on an exemption from the prospectus
      requirements of applicable securities legislation;

	 	 	 
	 	(i) 	
      the Subscriber and any beneficial purchaser for whom it
      is acting are resident in the jurisdiction set out on the first page of
      this Agreement;

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

	 	 	 
	 	(k) 	
      the Subscriber has the legal capacity and competence to
      enter into and execute this Agreement and to take all actions required
      pursuant hereto and, if the Subscriber is a corporation, it is duly
      incorporated and validly subsisting under the laws of
its

V - 11

	 		
      jurisdiction of incorporation and all necessary approvals
      by its directors, shareholders and others have been obtained to authorize
      execution of this Agreement on behalf of the Subscriber;

	 	 	 	 
	 	(l) 	
      the Subscriber has duly executed and delivered this
      Agreement and it constitutes a valid and binding agreement of the
      Subscriber enforceable against the Subscriber;

	 	 	 	 
	 	(m) 	
      this subscription by the Subscriber has not been induced
      by any representations or warranties by any person whatsoever with regard
      to the future value of the Securities;

	 	 	 	 
	 	(n) 	
      it consents to the Company giving instructions to its
      transfer agent to make a note in the transfer agent’s records and place
      restrictive legends on the certificates representing the Securities in
      order to implement the restrictions on transfer set forth in this
      Agreement;

	 	 	 	 
	 	(o) 	
      to the best of its knowledge, none of the funds the
      Subscriber is using to purchase the Units

	 	 	 	 
	 		(i) 	
      have been or will be derived from or related to any
      activity that is prohibited by, or deemed criminal under, the laws of
      Canada, United States of America, or any other jurisdiction, or

	 	 	 	 
	 		(ii) 	
      are being tendered on behalf of a person or entity who
      has not been identified to the Subscriber; and

	 	 	 	 
	 	(p) 	
      the Subscriber is an investor in securities of
      corporations in the development stage and is able to fend for itself, can
      and will bear the economic risk of its investment, understands the
      characteristics of the Securities and has such knowledge and experience in
      financial or business matters such that it is capable of evaluating the
      merits and risks of the investment in the Units.

The foregoing representations, warranties and covenants are
made by the Subscriber with the intent that they be relied upon by the Company
in determining the Subscriber’s suitability as a purchaser of the Units and are
true and correct as of the date of this Agreement and the Closing Date. The
Subscriber hereby agrees to indemnify the Company and its directors,
officers, employees, advisors, affiliates, shareholders, partners and agents
from and against all losses, claims, costs, expenses and damages or liabilities
whatsoever including, but not limited to, any fees, costs and expenses
reasonably incurred in investigating, preparing or defending against any
litigation, administrative proceeding or investigation commenced or threatened
or any claim arising out of or based upon a breach of any such representations,
warranties and covenants which it may suffer or incur as a result thereof. The
Subscriber undertakes to immediately notify the Company of any change in any
representation, warranty or other information relating to the Subscriber set
forth herein which occurs before the Closing Date.

7.      Representations,
Warranties and Covenants of the Company

The Company represents and warrants to and covenants with the
Subscriber (which representations, warranties and covenants shall survive
Closing) that:

	 	(a) 	
      the Company and its subsidiaries, if any, are valid and
      subsisting corporations duly incorporated, continued or amalgamated and in
      good standing under the laws of the

V - 12

	 		
      jurisdictions in which they are incorporated, continued
      or amalgamated with respect to all acts necessary to maintain their
      corporate existence;

	 	 	 
	 	(b) 	
      the Company and its subsidiaries, if any, are duly
      registered or licensed to carry on business in the jurisdictions in which
      they are required to be so registered or licensed to carry on business or
      own property or assets and are carrying on their business and own their
      property and assets in accordance with all applicable laws, regulations
      and other requirements, including environmental laws, regulations and
      requirements, and has not received any notice of a breach thereof which
      would have a material adverse effect on the Company, its subsidiaries or
      their business except where it is in good faith attempting to remedy such
      breach or contesting such notice;

	 	 	 
	 	(c) 	
      neither the Company nor any of its subsidiaries, if any,
      is a party to any actions, suits or proceedings which could materially
      affect its business or financial condition, and, as at the date hereof, no
      such actions, suits or proceedings have been threatened or, to the best of
      the Company’s knowledge, are pending, except as disclosed in the Public
      Record;

	 	 	 
	 	(d) 	
      the Company is the beneficial owner of the properties,
      business and assets or the interests in the properties, business and
      assets referred to in the Public Record, except as disclosed in the Public
      Record all agreements by which the Company holds an interest in a
      property, business or asset are in good standing according to their terms,
      and there has not been any breach of the applicable laws of the
      jurisdictions in which such properties, business and assets are situated
      which would have a material adverse effect on such properties, business
      and assets;

	 	 	 
	 	(e) 	
      the Public Record and the representations contained in
      this Agreement are accurate in all material respects and omit no fact, the
      omission of which would make such representation misleading in light of
      the circumstances in which such representation was made;

	 	 	 
	 	(f) 	
      the Financial Statements accurately reflect the financial
      position of the Company as at the date thereof and have been properly
      prepared in accordance with Canadian Generally Accepted Accounting
      Principles (GAAP);

	 	 	 
	 	(g) 	
      no adverse material changes in the financial position of
      the Company have taken place since the date of the latest balance sheet
      contained in the Financial Statements, except as has been publicly
      disclosed;

	 	 	 
	 	(h) 	
      the Company has properly prepared and filed all tax
      returns and all taxes payable have been paid except where the Company is
      contesting in good faith any re-assessments of its taxes payable
      thereunder;

	 	 	 
	 	(i) 	
      except as disclosed in the Public Record and for options
      granted in the ordinary course under the Company’s stock option plan,
      there are no outstanding options, warrants or other securities exercisable
      to purchase or convertible or exchangeable into common shares of the
      Company;

	 	 	 
	 	(j) 	
      the Company has complied and will comply with all
      applicable corporate and securities laws and regulations in connection
      with the offer, sale and issuance of the
Units;

V - 13

	 	(k) 	
      the sale, issuance and delivery of the Units by the
      Company does not and will not conflict with and does not and will not
      result in a breach of any of the terms, conditions or provisions of its
      constating documents or any agreement or instrument to which the Company
      is a party;

	 	 	 
	 	(l) 	
      this Agreement has been duly authorized by all necessary
      corporate action on the part of the Company and, subject to acceptance by
      the Company, constitutes a valid obligation of the Company legally binding
      upon it and enforceable in accordance with its terms;

	 	 	 
	 	(m) 	
      the sale, issuance and delivery of the Units and the
      issuance of the Warrant Shares, at the time at the time of their issue,
      will have been approved by all requisite corporate action on or before the
      Closing Date and, upon issue and delivery at the Closing, the Shares will
      be validly issued as fully paid and non-assessable and the Warrants will
      be validly issued and the certificates representing the Shares and
      Warrants will be validly delivered;

	 	 	 
	 	(n) 	
      no order ceasing or suspending trading in the Securities
      nor prohibiting sale of the Securities has been issued to and is
      outstanding against the Company or its directors, officers or promoters
      and to the best of the Company’s knowledge no investigations or
      proceedings for such purposes are pending or threatened;

	 	 	 
	 	(o) 	
      the Company is a reporting issuer under the BC Act,
      Alberta Act and Ontario Act, its common shares are listed for trading on
      the Exchange and the Company is not in default of any requirement of the
      BC Act, Alberta Act and Ontario Act or the Exchange; and

	 	 	 
	 	(p) 	
      there shall not be any consents, approvals,
      authorizations, orders or agreements of any stock exchanges, securities
      commissions or similar authorities in Canada, governmental agencies or
      regulators, courts or any other persons which may be required for the
      issuance of the Securities and the delivery of certificates representing
      the Securities to the Subscriber, not obtained and not in effect on the
      date of delivery of such certificates.

8.      Costs

The Subscriber acknowledges and agrees that all costs and
expenses incurred by the Subscriber (including any fees and disbursements of any
special counsel retained by the Subscriber) relating to the acquisition of the
Securities shall be borne by the Subscriber.

9.      Fee to
Finder 

The Subscriber understands that any Finder: 

	 	(a) 	
      will receive from the Company, at the Closing, a fee in
      respect of the sale of Units to investors introduced to the Company by the
      Finder; and

	 	 	 
	 	(b) 	
      and its directors, officers, employees and affiliates may
      hold, from time to time, ownership positions in the Company’s
      securities.

10.     Governing
Law

V - 14

This Agreement is governed by the laws of the province of
British Columbia and the federal laws of Canada applicable herein. The
Subscriber, in its personal or corporate capacity and, if applicable, on behalf
of each beneficial purchaser for whom it is acting, irrevocably attorn to the
jurisdiction of the courts of the province of British Columbia.

11.     Personal
Information

The Subscriber (on its own behalf and, if applicable, on behalf
of any person for whose benefit the Subscriber is subscribing) acknowledges and
consents to the Company: 

	 	(a) 	
      collecting the Subscriber’s (and that of any person for
      whose benefit the Subscriber is subscribing) personal information for the
      purposes of completing the Subscriber’s subscription;

	 	 	 
	 	(b) 	
      retaining the personal information for as long as
      permitted or required by applicable law or business practices;
  and

	 	 	 
	 	(c) 	
      providing to various governmental and regulatory
      authorities, as may be required by applicable securities laws, stock
      exchange rules, and the rules of the Investment Dealers Association, or to
      give effect to this agreement any personal information provided by the
      Subscriber.

The Subscriber represents and warrants that it has the
authority to provide the consents and acknowledgments set out in this paragraph
on behalf of all persons for whose benefit the Subscriber is subscribing. 

If the Subscriber is resident in Ontario, it acknowledges it
has been notified by the Company: (i) of the delivery to the Ontario Securities
Commission (the “OSC”) of the Subscriber’s personal information; (ii)
that the Subscriber’s personal information is being collected indirectly by the
OSC under the authority granted to it in the securities legislation; (iii) the
Subscriber’s personal information is being collected for the purposes of the
administration and enforcement of the securities legislation of Ontario; and
(iv) the contact information of the public official in Ontario who can answer
questions about the OSC’s indirect collection of personal information is,
Administrative Assistant to the Director of Corporate Finance, Ontario
Securities Commission, Suite 1903, Box 5520 Queen Street West, Toronto, Ontario,
M5H 3S8, telephone (416) 593-8086, facsimile (416) 593-8252.

12.     Survival

This Agreement including, without limitation, the
representations, warranties and covenants contained herein, shall survive and
continue in full force and effect and be binding upon the parties for a period
of one year after the Closing Date notwithstanding the completion of the
purchase of the Units by the Subscriber and any subsequent disposition by the
Subscriber of the Securities.

13.     Assignment

This Agreement is not transferable or assignable.

14.     Execution &
Delivery

V - 15

The Company shall be entitled to rely on delivery by facsimile
machine of an executed copy of this Agreement and acceptance by the Company of
such facsimile copy shall be equally effective to create a valid and binding
agreement between the Subscriber and the Company in accordance with the terms
hereof.

15.    
Severability

The invalidity or unenforceability of any particular provision
of this Agreement shall not affect or limit the validity or enforceability of
the remaining provisions of this Agreement.

16.     Entire
Agreement

Except as expressly provided in this Agreement and in the
agreements, instruments and other documents contemplated or provided for herein,
this Agreement contains the entire agreement between the parties with respect to
the sale of the Units and there are no other terms, conditions, representations
or warranties, whether expressed, implied, oral or written, by statute, by
common law, by the Company, by the Subscriber, or by any third party.

17.     Amendments &
Waivers

No amendment or waiver of the provisions of this Agreement
shall be effective unless in writing and signed by all of the parties hereto.

18.     Notice

Unless otherwise provided herein, any notice or other
communication to a party under this Agreement may be made, given or served by
registered mail, postage pre-paid, by telecopier or by delivery to the parties
at the addresses as set out in this Agreement. Any notice or other
communication:

	 	(a) 	
      mailed shall be deemed to have been received on the fifth
      business day following its mailing;

	 	 	 
	 	(b) 	
      telecopied shall be deemed to have been received on the
      business day following the date of transmission; and

	 	 	 
	 	(c) 	
      delivered shall be deemed to have been received on the
      date of delivery.

In the event of a postal strike or delay affecting mail
delivery, the date of receipt of any notice by mail is deemed to be extended by
the length of such strike or delay. Each party may change its address for
service at any time by providing notice in writing of such change to the other
party.

19.     Securities Regulatory
Approval

This Agreement shall be subject to the approval of all
securities regulatory authorities having jurisdiction.Filed by Automated Filing Services Inc. (604) 609-0244 - Kirkland Lake Gold Inc. - Exhibit 4.28

  Date: 1 June 2006 

   

   

   

  Kirkland Lake Gold Inc. 

   

  The Directors of Kirkland Lake Gold Inc 

   

  Ocean Equities Ltd.

   

   

   

  Broker Agreement

   

   

 

 

 

Field Fisher Waterhouse 35 Vine Street London EC3N 2AA

Contents

	No 	Heading 	Page 
	 	 	 
	  	Clauses 	  
	 	 	 
	1. 	Interpretation 	1 
	 	 	 
	2. 	Appointment of Ocean Equities
      and duties as Broker 	2 
	 	 	 
	3. 	Remuneration and Expenses
      	3 
	 	 	 
	4. 	Undertakings and Authorities
      relating to the appointment 	3 
	 	 	 
	5. 	Continuing Obligations 	4 
	 	 	 
	6. 	Further acknowledgement and
      undertakings 	4 
	 	 	 
	7. 	Termination 	6 
	 	 	 
	8. 	Indemnities 	9 
	 	 	 
	9. 	Withholding and Grossing-up 	11 
	 	 	 
	10. 	Notices 	12 
	 	 	 
	11. 	Change of Director 	13 
	 	 	 
	12. 	Miscellaneous 	13 
	 	 	 
	13. 	Governing Law 	14 
	 	 	 
	  	Schedule 	  
	  	  	  
	Schedule 1 	15 
	 	 	 
	The Directors 	15 

i

THIS AGREEMENT is made this 1st day of June
2006 

AMONG: 

	(1) 	
      Kirkland Lake Gold Inc. whose registered office is
      at Suite 1880 Royal Centre, 1055 West Georgia Street, Vancouver, British
      Columbia V6E 3P3, Canada (the “Company”);

	 	 
	(2) 	
      THE DIRECTORS of the Company whose names and
      addresses are set out in Schedule 1 (the “Directors”);
and

	 	 
	(3) 	
      OCEAN EQUITIES LTD. whose registered office is at
      3 Copthall Avenue, London EC2R 7BH United Kingdom (“Ocean
      Equities”).

IT IS AGREED: 

	1. 	
      Interpretation

	 	 
	1.1 	
      In this Agreement the following words and expressions
      shall (save where the context otherwise requires) have the following
      meanings:

	 	“AIM” 	
      means the AIM Market operated by London Stock Exchange;
      

	 	  	
       

	 	“AIM Rules” 	
      means the rules governing the admission of securities to
      AIM as set out by London Stock Exchange as amended from time to time;
    

	 	  	
       

	 	“Common Shares” 	
      means the common shares of the Company. 

	 	  	
       

	 	“FSA” 	
      means the Financial Services Authority of the United
      Kingdom; 

	 	  	
       

	 	“FSMA” 	
      means the Financial Services and Markets Act 2000 (as
      amended); and 

	 	  	
       

	 	“London Stock Exchange” 	
      means London Stock Exchange plc.

	1.2 	
      References in this Agreement to Clauses and Schedules are
      to the Clauses and Schedules of this Agreement.

	 	 
	1.3 	
      Headings are included in this Agreement for convenience
      only and shall be disregarded in its
interpretation.

1

	1.4 	
      In this Agreement the expressions “holding company”,
      “subsidiary undertaking” and “subsidiary” shall have the meanings given
      thereto in the Companies Act 1985 (as amended by the Companies Act
      1989).

	 	 	 
	1.5 	
      A reference to a statute or statutory provision includes
      a reference:-

	 	 	 
		(a) 	
      to that statute or provision as from time to time
      modified or re-enacted;

	 	 	 
		(b) 	
      to any repealed statute or statutory provision which it
      re-enacts (with or without modification); and

	 	 	 
		(c) 	
      to any subordinate legislation made under the relevant
      statute.

	 	 	 
	2. 	
      Appointment of Ocean Equities and duties as
      Broker

	 	 	 
	2.1 	
      The Company hereby irrevocably and unconditionally
      appoints Ocean Equities to act as its broker in the United Kingdom for the
      purposes of the AIM Rules upon the terms and subject to the conditions set
      out in this Agreement and Ocean Equities shall act as broker to the
      Company.

	 	 	 
	2.2 	
      Ocean Equities shall act as the Company's broker in the
      United Kingdom and will be responsible to London Stock Exchange for
      fulfilling the responsibilities imposed by the AIM

	 	 	 
		
      Rules relating to brokers appointed by AIM-quoted
      companies which include using best endeavours to find matching business if
      there is no market maker in the Company's shares.

	 	 	 
	2.3 	
      In addition to these responsibilities Ocean Equities
      will:-

	 	 	 
		(a) 	
      maintain regular contact with the Company concerning any
      movement in the price of the Common Shares on AIM and give details to the
      Company, as requested or required and as available to Ocean Equities, of
      trading in the Common Shares on AIM;

	 	 	 
		(b) 	
      act as the point of contact between the investment
      community in the United Kingdom and the Company;

	 	 	 
		(c) 	
      when requested, co-ordinate all transactions in Common
      Shares on AIM, with a view to maintaining an orderly market in Common
      Shares on AIM;

	 	 	 
		(d) 	
      advise the Company on investment conditions in the United
      Kingdom and the pricing of its securities;

2

	 	(e) 	
      prepare and publish broker's notes to the investment
      community in the United Kingdom at such times as shall be deemed
      appropriate by Ocean Equities; and

	 	 	 
	 	(f) 	
      not appoint any agent to fulfil any of its duties or
      obligations to the Company without the prior written agreement of the
      Company.

	2.4 	
      The Company acknowledges that the appointment of Ocean
      Equities under Clause 2.1 confers on Ocean Equities all powers,
      authorities and discretions on behalf of the Company which are necessary
      for, or reasonably incidental to, such appointment and the Company agrees
      to ratify and confirm everything which Ocean Equities shall lawfully and
      reasonably do on behalf of the Company in the exercise of such
      appointment, powers, authorities and discretions. Ocean Equities agrees to
      keep the Company informed as soon as reasonably practicable as to any
      actions which it may propose to take in its capacity as broker to the
      Company.

	 	 
	2.5 	
      Ocean Equities acknowledges that the appointment of Ocean
      Equities under Clause 2.1 does not restrict the Company from using the
      services any other financial institution in the United Kingdom for any
      purpose whatsoever.

	 	 
	3. 	
      Remuneration and Expenses

	 	 
	3.1 	
      The Company shall pay to Ocean Equities in respect of its
      services as broker an annual retainer fee of £•, which shall be payable
      quarterly in advance together with any reasonable out-of-pocket expenses
      which they incur in respect of such services.

	 	 
	3.2 	
      Unless expressly agreed to the contrary, the Company
      agrees to pay any fees and expenses properly due and payable to Ocean
      Equities pursuant to this Agreement from time to time within 28 days after
      the issue of the invoice in respect thereof together with any VAT properly
      chargeable thereon upon production of an appropriate VAT
invoice.

	 	 
	3.3 	
      Any payments due pursuant to this Clause 3 shall be in
      addition to any fees payable pursuant to any advice which Ocean Equities
      may be engaged to provide on any specific transaction, position or
      situation on behalf of the Company, subject to prior agreement with the
      Company.

	 	 
	4. 	
      Undertakings and Authorities relating to the
      appointment

	 	 
	4.1 	
      The Company hereby undertakes in favour of Ocean Equities
      to execute or to use all reasonable endeavours to procure the execution of
      all such documents and to do or procure the doing of all such things as
      may reasonably be required by, or be reasonably necessary to comply with
      the requirements of, AIM, AIM Rules or London Stock Exchange for
  the

3

		
      purposes of or in connection with Ocean Equities’
      continuing role as broker to the Company.

	 	 	 
	4.2 	
      The Company hereby undertakes to Ocean Equities that it
      will for so long as the Common Shares are admitted to trading on AIM
      comply with and abide by all relevant laws and regulations including the
      AIM Rules, the FSMA, the Code of Market Conduct published by the FSA and
      the Criminal Justice Act 1993.

	 	 	 
	4.3 	
      The Company undertakes, so far as it is able, promptly to
      provide Ocean Equities or procure that Ocean Equities is promptly provided
      with all information, confirmations and evidence which Ocean Equities may
      reasonably require for the proper performance of its duties hereunder or
      as may be required by London Stock Exchange in order to comply fully with
      all relevant provisions of the AIM Rules, the FSMA, the Code of Market
      Conduct published by the FSA and any other laws or regulations (whether or
      not having the force of law). The Company undertakes that all such
      information, confirmations and evidence provided by it to Ocean Equities
      will so far as it is aware be in all material respects true and accurate
      and not misleading. Furthermore, if anything occurs within a reasonable
      time thereafter which renders any such information, confirmation, evidence
      or statements of opinion in any material respect untrue or inaccurate or
      misleading, the Company will, as soon as practicable notify Ocean Equities
      and take all reasonable steps necessary to amend the information,
      confirmation, evidence or statement of opinion so as to rectify the
      matter.

	 	 	 
	5. 	
      Continuing Obligations

	 	 	 
	5.1 	
      Each of the Directors severally undertakes to Ocean
      Equities and the Company that:-

	 	 	 
		(a) 	
      he will inform Ocean Equities without delay on becoming
      aware of any breach by the Company or any of the Directors of any
      provision of the AIM Rules;

	 	 	 
		(b) 	
      he will at all times comply and act in accordance with
      the AIM Rules (in particular as they relate to dealings in the securities
      of a company whose securities have been admitted to trading on AIM) and
      will, so far as he is able to, procure that the affairs of the Company are
      conducted in accordance with the AIM Rules; and

	 	 	 
		(c) 	
      so far as he is able, he will procure (or authorise) that
      the Company complies with its obligations under this Agreement.

	 	 	 
	6. 	
      Further acknowledgement and undertakings

	 	 	 
	6.1 	
      Save as required by the AIM Rules, the Toronto Stock
      Exchange, applicable laws or regulations or any securities regulatory
      authority having jurisdiction, neither any advice

4

		
      rendered by Ocean Equities nor any communication from
      Ocean Equities in connection with the services performed by Ocean Equities
      pursuant to this Agreement may be quoted, or referred to, in any public
      report, document, release or other communication by the Company or by any
      related party without the prior written consent of Ocean Equities. If any
      advice or communication is required to be quoted or referred to, the
      Company will promptly first notify Ocean Equities thereof so Ocean
      Equities can take such measures as it feels are necessary.

	 	 
	6.2 	
      The Company and each of the Directors acknowledge and
      accept that Ocean Equities may be required by law or by regulatory
      agencies and authorities to disclose information and deliver documents
      relating to the Company and the Directors in relation to Ocean Equities’
      engagement hereunder. The Company and each of the Directors expressly
      authorise any such disclosure or delivery provided that, to the extent
      allowed, Ocean Equities will provide the Company with prompt notice before
      making any such disclose of information so the Company and the Directors
      can take such measures as they feel are necessary.

	 	 
	6.3 	
      All correspondence and papers in Ocean Equities’
      possession or control relating to its engagement hereunder shall be and
      remain Ocean Equities’ sole property, save for any original documents held
      to the Company's order.

	 	 
	6.4 	
      Ocean Equities is entitled to assume that instructions
      have been properly authorised by the Company if they are given or
      purported to be given by an individual or person who is or purports to be
      and is reasonably believed by Ocean Equities to be a director, appropriate
      employee or authorised agent of the Company.

	 	 
	6.5 	
      When Ocean Equities gives the Company advice or provides
      other services in accordance with this Agreement, it or an associate or
      some other person in connection with it or another client may have an
      interest, relationship or arrangement that is material in relation to the
      transaction or investment concerned. Accordingly, if Ocean Equities
      becomes aware that a conflict of interest has arisen or is likely to
      arise, it will inform the Company, but will be under no obligation to
      provide details of the conflict save as may be reasonably required to
      enable the Company to make a judgment on the matter. Thereafter, the
      parties will consult with a view to resolving a satisfactory procedure in
      view of such conflict, however, as a result of such conflict of interest,
      Ocean Equities may not be able to advise the Company and Ocean Equities
      reserves the right to decline to arrange any transaction or give advice or
      make any accommodation to the Company.

	 	 
	6.6 	
      The Company and each of the Directors acknowledge that
      all services provided by Ocean Equities pursuant to this Agreement are
      subject to the FSA's handbook of rules and guidance.

	 	 
	6.7 	
      The Company and each of the Directors acknowledge that
      Ocean Equities is acting solely for

5

		
      the Company in relation to the subject matter of this
      Agreement and no one else and accordingly that Ocean Equities will not be
      responsible to anyone other than the Company for providing the protections
      afforded to customers of Ocean Equities under FSA Rules or for providing
      advice in relation to or in connection with such subject matter.

	 	 	 
	6.8 	
      The Company and each of the Directors acknowledge that
      Ocean Equities is not responsible for providing any legal advice to the
      Company or the Directors in respect of any applicable laws and regulations
      and the Company and each of the Directors undertakes to obtain appropriate
      legal advice in respect of these and to communicate to Ocean Equities any
      such advice as is relevant to the carrying out of Ocean Equities’ services
      hereunder.

	 	 	 
	6.9 	
      The Company and each of the Directors acknowledge that
      Ocean Equities owes a number of responsibilities solely to London Stock
      Exchange and will not incur any liability to the Company or the Directors
      where it has acted properly in accordance with those
    responsibilities.

	 	 	 
	7. 	
      Termination

	 	 	 
	7.1 	
      Either the Company or Ocean Equities may terminate the
      appointment contained in this Agreement by giving to the other not less
      than three months notice in writing provided that if the appointment is
      terminated other than due to one of the termination events specified in
      Clause 7.2 below the Company shall be liable to pay to Ocean Equities on a
      pro rata basis its annual retainer fee referred to in Clause 3.1 of
      this Agreement up to the date of the expiry of such notice.

	 	 	 
	7.2 	
      The Company may terminate the appointment contained in
      this Agreement forthwith by giving written notice to Ocean Equities
      following:

	 	 	 
		(a) 	
      the appointment of a liquidator, receiver, administrative
      receiver or administrator over the whole or substantially the whole of
      Ocean Equities’ assets except for the purposes of a solvent
      reconstruction, amalgamation, reorganisation, merger or
    consolidation;

	 	 	 
		(b) 	
      Ocean Equities commits any material breach of any of the
      terms and conditions of this Agreement, which breach (if capable of
      remedy) remains unremedied within 14 days of service of a notice
      specifying the breach and requiring it to be remedied in circumstances in
      which any such breach might reasonably be expected to jeopardise or damage
      the reputation of the Company if the appointment was not
  terminated;

	 	 	 
		(c) 	
      Ocean Equities commits a fraudulent act, or commits any
      material breach of the AIM

6

	 		
      Rules, FSMA, the Code of Market Conduct published by the
      FSA or any other laws or regulations to which Ocean Equities is subject
      from time to time;

	 	 	 
	 	(d) 	
      any warranty or representation given by Ocean Equities in
      this Agreement is found to be untrue or misleading in any respect which is
      material;

	 	 	 
	 	(e) 	
      Ocean Equities ceasing to be registered with London Stock
      Exchange as a member firm; or

	 	 	 
	 	(f) 	
      Ocean Equities ceasing to be regulated and authorised by
      the FSA.

	7.3 	
      Ocean Equities may terminate its appointment forthwith by
      giving written notice to the Company in any one of the following events or
      circumstances:

	 	 	 
		(a) 	
      the Company does not pay any sum payable under this
      Agreement within 30 days of the due date;

	 	 	 
		(b) 	
      the Company commits any material breach of any of the
      terms and conditions of this Agreement, which breach (if capable of
      remedy) remains unremedied within 14 days of service of a notice
      specifying the breach and requiring it to be remedied in circumstances in
      which any such breach might reasonably be expected to jeopardise or damage
      the reputation of Ocean Equities if the appointment was not
    terminated;

	 	 	 
		(c) 	
      any Director commits a fraudulent act, or the Company or
      any Director commits any material breach of the AIM Rules, FSMA, the Code
      of Market Conduct published by the FSA or any other laws or regulations to
      which the Company or the Directors are subject from time to
time;

	 	 	 
		(d) 	
      the Company fails to comply with advice given to the
      Company or the Directors by Ocean Equities such that, in the reasonable
      opinion of Ocean Equities, such failure could jeopardise or damage the
      reputation of Ocean Equities;

	 	 	 
		(e) 	
      any warranty or representation given by the Company or a
      Director in this Agreement is found to be untrue or misleading in any
      respect which is material;

	 	 	 
		(f) 	
      any step is taken by any person with a view to the
      administration of the Company under Part II of the Insolvency Act
    1986;

	 	 	 
		(g) 	
      the Company stops or suspends or threatens to stop or
      suspend payment of all or a material part of (or a particular type of) its
      debts or is unable to pay its debts or is

7

	 		
      deemed unable to do so under Section 123(1) or (2)
      Insolvency Act 1986;

	 	 	 
	 	(h) 	
      the Directors make any proposal under Section 1 of the
      Insolvency Act 1986 or the Company proposes or makes any agreement for the
      deferral, resettling or other readjustment (or proposes or makes a general
      assignment of or arrangement or composition for the benefit of the
      relevant creditors) of all (or all of a particular type) of its debts, or
      a moratorium is agreed or declared in respect of, or affecting all or a
      material part (or of a particular type) of the debts of, the
    Company;

	 	 	 
	 	(i) 	
      the appointment of a receiver, administrative receiver,
      manager or similar person to enforce a security given by the Company;
      or

	 	 	 
	 	(j) 	
      any step is taken by the Company with a view to its
      winding-up or any person presents a winding-up petition (other than for
      frivolous or vexatious reasons) which is not dismissed within 14 days or
      the Company ceases or threatens to cease to carry on all or a material
      part of its business, except for the purposes of and followed by
      reconstruction, amalgamation, reorganisation, merger or consolidation on
      terms approved by Ocean Equities before that step is
  taken.

	7.4 	
      Each defaulting party shall notify the other party
      promptly upon the occurrence of a termination event as set out in Clauses
      7.2 and 7.3 of this Agreement (a "Termination Event") or any event
      or circumstance which may reasonably be expected to give rise to the
      occurrence of a Termination Event.

	 	 	 
	7.5 	
      Upon the occurrence of a Termination Event the
      non-defaulting party shall be entitled to terminate the appointment
      referred to in this Agreement forthwith by written notice to the other
      party.

	 	 	 
	7.6 	
      Upon termination of the appointment referred to in this
      Agreement:-

	 	 	 
		(a) 	
      the rights and obligations of the parties under this
      Agreement shall terminate and be of no further effect, except that Clauses
      3.2 and 8 of this Agreement shall remain in full force and
  effect;

	 	 	 
		(b) 	
      any rights or obligations to which any of the parties to
      this Agreement may be entitled or be subject to in relation to such
      appointment before such termination shall remain in full force and effect;
      and

	 	 	 
		(c) 	
      the termination shall not affect or prejudice any right
      to damages or other remedy which the terminating parties may have in
      respect of the Termination Event which

8

gave rise to the termination or any
other right to damages or other remedy which any party may have in respect of
any breach of this Agreement which existed at or before the date of termination.

	8. 	
      Indemnities

	 	 
	8.1 	
      No claim shall be made by the Company or any of the
      Directors against Ocean Equities, or any subsidiary undertaking or holding
      company of Ocean Equities or any subsidiary undertaking of any holding
      company of Ocean Equities or any of its directors, officers, or employees
      (each, together with Ocean Equities, for the purposes of this Clause 8 an
      “Indemnified Person”) to recover any loss, damage, cost, charge or
      expense which the Company, the Directors or any holder of Common Shares or
      other securities of the Company may suffer or incur by reason of or
      arising out of the carrying out by Ocean Equities, or on its behalf, of
      its obligations and services under and in accordance with this Agreement
      except to the extent that such loss, damage, cost, charge or expense
      arises from the fraud, negligence or wilful default of Ocean Equities or
      any other Indemnified Person, any failure by Ocean Equities to comply with
      its obligations under this Agreement or any breach by Ocean Equities or
      any other Indemnified Person of the AIM Rules or the FSA's handbook of
      rules and guidance.

	 	 
	8.2 	
      Without prejudice to the rights of Ocean Equities as
      agent of the Company under common law, the Company hereby undertakes to
      Ocean Equities (for itself and as a trustee (but on terms that it shall be
      entitled in its own discretion to waive any entitlement hereunder (or
      otherwise make settlements with respect hereto) to such extent as it may
      think fit having regard to its own and any other interest it may
      determine) for each and every other Indemnified Person) to indemnify each
      Indemnified Person against all or any claims (whether or not successful,
      compromised or settled), actions, liabilities, demands, proceedings or
      judgements brought or established against any Indemnified Person in any
      jurisdiction by any holder of Common Shares or by any governmental agency
      or regulatory body or any other person whatsoever and against all losses,
      reasonable costs, charges, expenses (including legal fees reasonably and
      properly incurred) or taxes (including, VAT, stamp duty and SDRT but
      excluding corporation tax on normal trading profits) which any Indemnified
      Person may suffer or incur (including, but not Ltd. to, all such losses,
      reasonable costs, charges, reasonable expenses or taxes suffered or
      properly incurred in disputing any claim, action, liability, demand or
      proceedings aforesaid or in establishing its right to be indemnified
      pursuant to this Clause 8.2) and which in any such case arises, directly
      or indirectly, out of or is attributable to or is in connection
    with:

	 	(a) 	
      the neglect or default of the Company;
  or

9

	 	(b) 	
      Ocean Equities acting as broker to the Company in
      accordance with the terms of this Agreement and the AIM
  Rules;

		
      unless and to the extent that any of them arises from the
      fraud, negligence or wilful default of any Indemnified Person or any
      failure by Ocean Equities to comply with its obligations under this
      Agreement or any breach by Ocean Equities or any other Indemnified Person
      of the AIM Rules or the FSA's handbook of rules and guidance.

	 	 	 
	8.3 	
      If Ocean Equities becomes aware of any claim made or
      threatened within the scope of the indemnity set out in this Clause 8,
      Ocean Equities shall promptly notify the Company thereof and shall
      thereafter (subject to the Indemnified Person being indemnified and
      secured to their reasonable satisfaction by the Company against all costs,
      charges, damages and expenses the Indemnified Person may suffer or incur
      as a result of so doing), subject to the requirements (if any) of the
      Indemnified Person's insurers, consult with the Company regarding the
      Indemnified Person's conduct of the Claim and shall provide the Company
      with such information and copies of such documents relating to the claim
      as the Company may reasonably require provided that the Indemnified Person
      shall not be under any obligation to take into account any requirements of
      the Company in connection with such conduct nor to provide the Company
      with a copy of any document which is, or in the reasonable opinion of the
      Indemnified Person's advisers, is likely to be privileged in the context
      of the claim.

	 	 	 
	8.4 	
      If the Company becomes aware of any claim made or
      threatened within the scope of the indemnity set out in this Clause 8 or
      any matter which may give rise to a claim the Company shall notify Ocean
      Equities and shall provide the Indemnified Persons with such information
      and copies of such documents relating to the claim as they may reasonably
      require provided that the Company shall not be required to do so to the
      extent that:

	 	 	 
		(a) 	
      the Company in good faith considers a relevant document
      to be subject to a bona fide duty of confidentiality owed by it to
      a third party or to be privileged in the context of any litigation by the
      Company against the Indemnified Person (or vice versa) connected with the
      claim; or

	 	 	 
		(b) 	
      it would prejudice any insurance cover to which the
      Company may from time to time be entitled.

	 	 	 
	8.5 	
      The Company will not without the prior written consent of
      Ocean Equities settle or compromise or consent to the entry of any
      judgement with respect to any pending or threatened claim in respect of
      which indemnification may be sought by any Indemnified Person under this
      Clause 8 (whether or not the Indemnified Person is an actual or potential
      party to such claim) unless such settlement, compromise or consent
      includes an unconditional

10

		
      release of the Indemnified Person from all liability
      arising out of such claim.

	 	 
	8.6 	
      Ocean Equities may defend, compromise, settle or deal
      with any claim made or threatened within the scope of the indemnity set
      out in this Clause 8 as it sees fit (having considered the Company’s
      reasonable requests).

	 	 
	8.7 	
      Each Indemnified Person shall be entitled to enforce its
      rights under this Clause 8 pursuant to the Contracts (Rights of Third
      Parties) Act 1999, notwithstanding that such Indemnified Person is not a
      party to this Agreement.

	 	 
	9. 	
      Withholding and Grossing-up

	 	 
	9.1 	
      All sums payable to Ocean Equities under this Agreement
      shall be paid free and clear of all deductions or withholdings unless the
      deduction or withholding is required by law, in which event the relevant
      person shall pay such additional amount as shall be required to ensure
      that the net amount received by Ocean Equities will equal the full amount
      which would have been received by it had no such deduction or withholding
      been made.

	 	 
	9.2 	
      If the United Kingdom Inland Revenue or any other tax
      authority brings into charge to tax (or into any computation of income,
      profit or gains for the purposes of any charge to tax) any sum payable to
      Ocean Equities under this Agreement (other than the fees due under Clause
      3), then the person liable to make such payment shall pay such additional
      amount as shall be required to ensure that the total amount paid, less the
      tax chargeable thereon (or that would be so chargeable but for the
      availability of relief in respect of that charge to tax), is equal to the
      amount that would otherwise be payable to Ocean Equities under this
      Agreement (additional payments being made on demand of Ocean
    Equities).

	 	 
	9.3 	
      If, on payment of an additional amount to Ocean Equities
      under Clause 9.1 or 9.2 Ocean Equities determines that it has received or
      been granted (and has derived full use and benefit from) a credit against,
      relief or remission for, or repayment of, any tax in respect of or
      calculated with reference to the additional amount paid, Ocean Equities
      shall, to the extent that it can do so without prejudice to the retention
      of such credit, relief, remission or repayment, pay to the Company such
      amount as Ocean Equities shall, acting reasonably, determine to be the
      proportion of such credit, relief, remission or repayment as will leave
      Ocean Equities after such payment in the same after tax position it would
      have been in (after taking into account all reasonable expenses incurred
      in determining or, if necessary, claiming the appropriate credit, relief,
      remission or repayment) if no additional amount has been required to be
      paid. Provided always that:

	 	(a) 	
      Ocean Equities’ determination of any amount payable under
      this Clause 9.3 and the

11

	 		
      date by which it shall be paid shall be final and binding
      (subject to Ocean Equities’ right to adjust the amount determined should
      the initial determination prove to be incorrect);

	 	 	 
	 	(b) 	
      Ocean Equities shall have absolute discretion as to the
      order and manner in which it employs or claims tax credits and allowances
      available to it and generally as to the conduct of its tax affairs;
    and

	 	 	 
	 	(c) 	
      Ocean Equities shall not be obliged to disclose any
      information regarding its tax affairs or tax
  computations.

	10. 	
      Notices

	 	 
	10.1 	
      Any notices or other communication required to be given
      or served under or in connection with this Agreement shall be in writing
      and shall be sufficiently given or served if
delivered:

	 	(a) 	
      in the case of the Company or to the Directors
  to:

	 	Address: 	Suite 300, 570 Granville Street, Vancouver,
      British Columbia V6C 3P1 Canada 
	 	 	 
	 	Fax: 	+1 604 681 4692 
	 	 	 
	 	Attention: 	Sandra Lee, Secretary 

12

	 	(b) 	
      if to Ocean Equities to:

	 	Address: 	3 Copthall Avenue, London EC2R 7BH, United
      Kingdom 
	 	 	 
	 	Fax: 	+44 20 786 4371 
	 	 	 
	 	Attention: 	Chief Executive 

	10.2 	
      Any such notice shall be delivered by hand or sent by fax
      transmission or pre-paid first class post and if delivered by fax shall
      conclusively be deemed to have been given or served at the time of
      printout of a transmission report showing that the correct number of pages
      has been sent without error and if sent by post shall conclusively be
      deemed to have been received 10 days after the time of posting.

	 	 
	11. 	
      Change of Director

	 	 
	11.1 	
      The obligations of each of the Directors hereunder shall
      apply for so long as he remains a director of the Company.

	 	 
	11.2 	
      The Company shall procure that each new director of the
      Company appointed after the date of this Agreement as a director of the
      Company shall enter into an Agreement provided by Ocean Equities in
      substantially the same form as this Agreement.

	 	 
	12. 	
      Miscellaneous

	 	 
	12.1 	
      No party may assign any or all of its rights or
      obligations under this Agreement, save that Ocean Equities may assign the
      benefit of this Agreement to any holding company or subsidiary of Ocean
      Equities or any subsidiary of such holding company.

	 	 
	12.2 	
      This Agreement contains the entire agreement between the
      parties or any of them in connection with the appointment of Ocean
      Equities as the Company’s broker.

	 	 
	12.3 	
      No purported variation of this Agreement shall be
      effective unless made in writing and signed by each of the parties to this
      Agreement.

	 	 
	12.4 	
      A failure or delay by any party in exercising any right
      under this Agreement shall not impair such right or be construed as a
      waiver of it nor shall any single or partial exercise of any right
      preclude any other or further exercise of it or the exercise of any other
      right.

13

	12.5 	
      Save to the extent that third party rights are conferred
      in this Agreement on a person by express reference to the Contracts (Right
      of Third Parties) Act 1999, a person who is not a party to this Agreement
      has no right to enforce any term of this Agreement under that
  Act.

	 	 
	12.6 	
      If at any time any provision of this Agreement is or
      becomes illegal, invalid or unenforceable in any respect under the law of
      any jurisdiction, neither the legality, validity or enforceability of the
      remaining provisions, or the legality, validity or enforceability of such
      provision under the law of any other jurisdiction shall be affected or
      impaired in any way.

	 	 
	12.7 	
      If any party defaults in the payment when due of any sum
      payable under this Agreement (whether determined by agreement or pursuant
      to an order of a court or otherwise) the liability of that party shall be
      increased to include interest on such sum from the due date until the date
      of actual payment at the rate of 2 per cent above the base annual lending
      rate from time to time of the Royal Bank of Scotland plc. Such interest
      shall accrue from day to day, be compounded monthly and calculated on the
      basis of a 365 day year.

	 	 
	12.8 	
      This Agreement may be executed in any number of
      counterparts and by different parties on separate counterparts, each of
      which when so executed and delivered, and which delivery may be by
      telecopier, shall be an original, but all of the counterparts shall
      together constitute one and the same instrument.

	 	 
	13. 	
      Governing Law

	 	 
		
      The construction, validity and performance of this
      Agreement shall be governed by English Law and the parties irrevocably
      submit to the non-exclusive jurisdiction of the Courts of
  England.

IN WITNESS whereof this Agreement has been executed the
day and year first above written. 

14

Schedule 1 

The Directors 

	Name 	Address 
	  	  
	DAVID HARRY WILLIAMSON DOBSON 	P.O. Box 370 
	  	Kirkland Lake, Ontario P2N 3J1 
	  	Canada 
	 	 
	BRIAN ANTHONY HINCHCLIFFE 	P.O. Box 370 
	  	Kirkland Lake, Ontario P2N 3J1 
	  	Canada 

15

	SIGNED by 	)	
	 	 	 
	duly authorised for and on behalf of 	)	(Signed) Brian A. Hinchcliffe 
	 	 	 
	KIRKLAND LAKE GOLD INC. 	)	Signature 
	 	 	 
	in the presence of:- 	)	CEO
  
	 	 	 
	  	 	Title 
	  	 	  
	 	 	 
	SIGNED by 	)	
	 	 	 
	duly authorised for and on behalf of 	)	(Signed) W. Slack & (Signed) G. Wilkes 
	 	 	 
	OCEAN EQUITIES LTD. 	)	Signature 
	 	 	 
	in the presence of:- 	)	Directors 
	 	 	 
	  	 	Title 

	SIGNED by DAVID HARRY WILLIAMSON DOBSON 	(Signed) D. Harry W. Dobson 
	 	 
	 	 
	SIGNED by BRIAN ANTHONY HINCHCLIFFE 	(Signed) Brian A. Hinchcliffe 

16

Date: 1 June 2006 

 

 

Kirkland Lake Gold Inc. 

 

The Directors of Kirkland Lake Gold
  Inc 

 

Mirabaud Securities Limited

 

 

 

Broker Agreement

 

 

 

Field Fisher Waterhouse 35 Vine Street London EC3N 2AA

Contents

	No 	Heading 	Page 
	 	 	 
	  	Clauses 	  
	 	 	 
	1. 	Interpretation 	1 
	 	 	 
	2. 	Appointment of Mirabaud
      Securities and duties as Broker 	2 
	 	 	 
	3. 	Remuneration and Expenses
      	3 
	 	 	 
	4. 	Undertakings and Authorities
      relating to the appointment 	3 
	 	 	 
	5. 	Continuing Obligations
      	4 
	 	 	 
	6. 	Further acknowledgement
      and undertakings 	5 
	 	 	 
	7. 	Termination 	6 
	 	 	 
	8. 	Indemnities 	9 
	 	 	 
	9. 	Withholding and Grossing-up 	11 
	 	 	 
	10. 	Notices 	12 
	 	 	 
	11. 	Change of Director 	13 
	 	 	 
	12. 	Miscellaneous 	13 
	 	 	 
	13. 	Governing Law 	14 
	 	 	 
	  	Schedule 	  
	  	  	  
	Schedule 1 	15 
	 	 	 
	The Directors 	15 

i

THIS AGREEMENT is made this 1st day of June
  2006 

AMONG: 

	(1) 	 Kirkland Lake Gold Inc. whose registered office
        is at Suite 1880 Royal Centre, 1055 West Georgia Street, Vancouver, British
        Columbia V6E 3P3, Canada (the “Company”);

	 	 
	(2) 	 THE DIRECTORS of the Company whose names and
        addresses are set out in Schedule 1 (the “Directors”);
        and

	 	 
	(3) 	 MIRABAUD SECURITIES LIMITED whose registered
        office is at 21 St James’s Square, London SW1Y 4JP United Kingdom
        (“Mirabaud Securities”).

IT IS AGREED: 

	1. 	 Interpretation

	 	 
	1.1 	 In this Agreement the following words and expressions
        shall (save where the context otherwise requires) have the following meanings:

	 	“AIM” 	 means the AIM Market operated
        by London Stock Exchange; 

	 	  	  

	 	“AIM Rules” 	 means the rules governing the
        admission of securities to AIM as set out by London Stock Exchange as
        amended from time to time; 

	 	  	  

	 	“Common Shares” 	 means the common shares of the
        Company. 

	 	  	  

	 	“FSA” 	 means the Financial Services
        Authority of the United Kingdom; 

	 	  	  

	 	“FSMA” 	 means the Financial Services
        and Markets Act 2000 (as amended); and 

	 	  	  

	 	“London Stock Exchange” 	 means London Stock Exchange plc.
      

	1.2 	 References in this Agreement to Clauses and Schedules
        are to the Clauses and Schedules of this Agreement.

	 	 
	1.3 	 Headings are included in this Agreement for convenience
        only and shall be disregarded in its interpretation.

1

	1.4 	 In this Agreement the expressions “holding
        company”, “subsidiary undertaking” and “subsidiary”
        shall have the meanings given thereto in the Companies Act 1985 (as amended
        by the Companies Act 1989).

	 	 	 
	1.5 	 A reference to a statute or statutory provision
        includes a reference:-

	 	 	 
		(a) 	 to that statute or provision as from time to time modified
        or re-enacted;

	 	 	 
		(b) 	 to any repealed statute or statutory provision which
        it re-enacts (with or without modification); and

	 	 	 
		(c) 	 to any subordinate legislation made under the relevant
        statute.

	 	 	 
	2. 	 Appointment of Mirabaud Securities and
        duties as Broker

	 	 	 
	2.1 	 The Company hereby irrevocably and unconditionally
        appoints Mirabaud Securities to act as its broker in the United Kingdom
        for the purposes of the AIM Rules upon the terms and subject to the conditions
        set out in this Agreement and Mirabaud Securities shall act as broker
        to the Company.

	 	 	 
	2.2 	 Mirabaud Securities shall act as the Company's
        broker in the United Kingdom and will be responsible to London Stock Exchange
        for fulfilling the responsibilities imposed by the AIM

	 	 	 
		 Rules relating to brokers appointed by AIM-quoted
        companies which include using best endeavours to find matching business
        if there is no market maker in the Company's shares.

	 	 	 
	2.3 	 In addition to these responsibilities Mirabaud
        Securities will:-

	 	 	 
		(a) 	 maintain regular contact with the Company concerning
        any movement in the price of the Common Shares on AIM and give details
        to the Company, as requested or required and as available to Mirabaud
        Securities, of trading in the Common Shares on AIM;

	 	 	 
		(b) 	 act as the point of contact between the investment community
        in the United Kingdom and the Company;

	 	 	 
		(c) 	 when requested, co-ordinate all transactions in Common
        Shares on AIM, with a view to maintaining an orderly market in Common
        Shares on AIM;

	 	 	 
		(d) 	 advise the Company on investment conditions in the United
        Kingdom and the pricing of its securities;

2

	 	(e) 	 prepare and publish broker's notes to the investment
        community in the United Kingdom at such times as shall be deemed appropriate
        by Mirabaud Securities; and

	 	 	 
	 	(f) 	 not appoint any agent to fulfil any of its duties or
        obligations to the Company without the prior written agreement of the
        Company.

	2.4 	 The Company acknowledges that the appointment of Mirabaud
        Securities under Clause 2.1 confers on Mirabaud Securities all powers,
        authorities and discretions on behalf of the Company which are necessary
        for, or reasonably incidental to, such appointment and the Company agrees
        to ratify and confirm everything which Mirabaud Securities shall lawfully
        and reasonably do on behalf of the Company in the exercise of such appointment,
        powers, authorities and discretions. Mirabaud Securities agrees to keep
        the Company informed as soon as reasonably practicable as to any actions
        which it may propose to take in its capacity as broker to the Company.

	 	 
	2.5 	 Mirabaud Securities acknowledges that the appointment
        of Mirabaud Securities under Clause 2.1 does not restrict the Company
        from using the services any other financial institution in the United
        Kingdom for any purpose whatsoever.

	 	 
	3. 	 Remuneration and Expenses

	 	 
	3.1 	 The Company shall pay to Mirabaud Securities in respect
        of its services as broker an annual retainer fee of £•, which
        shall be payable quarterly in advance together with any reasonable out-of-pocket
        expenses which they incur in respect of such services.

	 	 
	3.2 	 Unless expressly agreed to the contrary, the Company
        agrees to pay any fees and expenses properly due and payable to Mirabaud
        Securities pursuant to this Agreement from time to time within 28 days
        after the issue of the invoice in respect thereof together with any VAT
        properly chargeable thereon upon production of an appropriate VAT invoice.

	 	 
	3.3 	 Any payments due pursuant to this Clause 3 shall be
        in addition to any fees payable pursuant to any advice which Mirabaud
        Securities may be engaged to provide on any specific transaction, position
        or situation on behalf of the Company, subject to prior agreement with
        the Company.

	 	 
	4. 	 Undertakings and Authorities relating to the appointment

	 	 
	4.1 	 The Company hereby undertakes in favour of Mirabaud
        Securities to execute or to use all reasonable endeavours to procure the
        execution of all such documents and to do or procure the doing of all
        such things as may reasonably be required by, or be reasonably necessary
        to

3

		 comply with the requirements of, AIM, AIM
        Rules or London Stock Exchange for the purposes of or in connection with
        Mirabaud Securities’ continuing role as broker to the Company.

	 	 	 
	4.2 	 The Company hereby undertakes to Mirabaud
        Securities that it will for so long as the Common Shares are admitted
        to trading on AIM comply with and abide by all relevant laws and regulations
        including the AIM Rules, the FSMA, the Code of Market Conduct published
        by the FSA and the Criminal Justice Act 1993.

	 	 	 
	4.3 	 The Company undertakes, so far as it is able,
        promptly to provide Mirabaud Securities or procure that Mirabaud Securities
        is promptly provided with all information, confirmations and evidence
        which Mirabaud Securities may reasonably require for the proper performance
        of its duties hereunder or as may be required by London Stock Exchange
        in order to comply fully with all relevant provisions of the AIM Rules,
        the FSMA, the Code of Market Conduct published by the FSA and any other
        laws or regulations (whether or not having the force of law). The Company
        undertakes that all such information, confirmations and evidence provided
        by it to Mirabaud Securities will so far as it is aware be in all material
        respects true and accurate and not misleading. Furthermore, if anything
        occurs within a reasonable time thereafter which renders any such information,
        confirmation, evidence or statements of opinion in any material respect
        untrue or inaccurate or misleading, the Company will, as soon as practicable
        notify Mirabaud Securities and take all reasonable steps necessary to
        amend the information, confirmation, evidence or statement of opinion
        so as to rectify the matter.

	 	 	 
	5. 	 Continuing Obligations

	 	 	 
	5.1 	 Each of the Directors severally undertakes
        to Mirabaud Securities and the Company that:-

	 	 	 
		(a) 	 he will inform Mirabaud Securities without delay on
        becoming aware of any breach by the Company or any of the Directors of
        any provision of the AIM Rules;

	 	 	 
		(b) 	 he will at all times comply and act in accordance with
        the AIM Rules (in particular as they relate to dealings in the securities
        of a company whose securities have been admitted to trading on AIM) and
        will, so far as he is able to, procure that the affairs of the Company
        are conducted in accordance with the AIM Rules; and

	 	 	 
		(c) 	 so far as he is able, he will procure (or authorise)
        that the Company complies with its obligations under this Agreement.

4

	6. 	 Further acknowledgement and undertakings

	 	 
	6.1 	 Save as required by the AIM Rules, the Toronto Stock
        Exchange, applicable laws or regulations or any securities regulatory
        authority having jurisdiction, neither any advice rendered by Mirabaud
        Securities nor any communication from Mirabaud Securities in connection
        with the services performed by Mirabaud Securities pursuant to this Agreement
        may be quoted, or referred to, in any public report, document, release
        or other communication by the Company or by any related party without
        the prior written consent of Mirabaud Securities. If any advice or communication
        is required to be quoted or referred to, the Company will promptly first
        notify Mirabaud Securities thereof so Mirabaud Securities can take such
        measures as it feels are necessary.

	 	 
	6.2 	 The Company and each of the Directors acknowledge and
        accept that Mirabaud Securities may be required by law or by regulatory
        agencies and authorities to disclose information and deliver documents
        relating to the Company and the Directors in relation to Mirabaud Securities’
        engagement hereunder. The Company and each of the Directors expressly
        authorise any such disclosure or delivery provided that, to the extent
        allowed, Mirabaud Securities will provide the Company with prompt notice
        before making any such disclose of information so the Company and the
        Directors can take such measures as they feel are necessary.

	 	 
	6.3 	 All correspondence and papers in Mirabaud Securities’
        possession or control relating to its engagement hereunder shall be and
        remain Mirabaud Securities’ sole property, save for any original
        documents held to the Company's order.

	 	 
	6.4 	 Mirabaud Securities is entitled to assume that instructions
        have been properly authorised by the Company if they are given or purported
        to be given by an individual or person who is or purports to be and is
        reasonably believed by Mirabaud Securities to be a director, appropriate
        employee or authorised agent of the Company.

	 	 
	6.5 	 When Mirabaud Securities gives the Company advice or
        provides other services in accordance with this Agreement, it or an associate
        or some other person in connection with it or another client may have
        an interest, relationship or arrangement that is material in relation
        to the transaction or investment concerned. Accordingly, if Mirabaud Securities
        becomes aware that a conflict of interest has arisen or is likely to arise,
        it will inform the Company, but will be under no obligation to provide
        details of the conflict save as may be reasonably required to enable the
        Company to make a judgment on the matter. Thereafter, the parties will
        consult with a view to resolving a satisfactory procedure in view of such
        conflict, however, as a result of such conflict of interest, Mirabaud
        Securities may not be able to advise the Company and Mirabaud Securities
        reserves the right to decline to arrange any

5

		 transaction or give advice or make any accommodation
        to the Company.

	 	 	 
	6.6 	 The Company and each of the Directors acknowledge
        that all services provided by Mirabaud Securities pursuant to this Agreement
        are subject to the FSA's handbook of rules and guidance.

	 	 	 
	6.7 	 The Company and each of the Directors acknowledge
        that Mirabaud Securities is acting solely for the Company in relation
        to the subject matter of this Agreement and no one else and accordingly
        that Mirabaud Securities will not be responsible to anyone other than
        the Company for providing the protections afforded to customers of Mirabaud
        Securities under FSA Rules or for providing advice in relation to or in
        connection with such subject matter.

	 	 	 
	6.8 	 The Company and each of the Directors acknowledge
        that Mirabaud Securities is not responsible for providing any legal advice
        to the Company or the Directors in respect of any applicable laws and
        regulations and the Company and each of the Directors undertakes to obtain
        appropriate legal advice in respect of these and to communicate to Mirabaud
        Securities any such advice as is relevant to the carrying out of Mirabaud
        Securities’ services hereunder.

	 	 	 
	6.9 	 The Company and each of the Directors acknowledge
        that Mirabaud Securities owes a number of responsibilities solely to London
        Stock Exchange and will not incur any liability to the Company or the
        Directors where it has acted properly in accordance with those responsibilities.

	 	 	 
	7. 	 Termination

	 	 	 
	7.1 	 Either the Company or Mirabaud Securities
        may terminate the appointment contained in this Agreement by giving to
        the other not less than three months notice in writing provided that if
        the appointment is terminated other than due to one of the termination
        events specified in Clause 7.2 below the Company shall be liable to pay
        to Mirabaud Securities on a pro rata basis its annual retainer
        fee referred to in Clause 3.1 of this Agreement up to the date of the
        expiry of such notice.

	 	 	 
	7.2 	 The Company may terminate the appointment
        contained in this Agreement forthwith by giving written notice to Mirabaud
        Securities following:

	 	 	 
		(a) 	 the appointment of a liquidator, receiver, administrative
        receiver or administrator over the whole or substantially the whole of
        Mirabaud Securities’ assets except for the purposes of a solvent
        reconstruction, amalgamation, reorganisation, merger or consolidation;

6

	 	(b) 	 Mirabaud Securities commits any material breach of any
        of the terms and conditions of this Agreement, which breach (if capable
        of remedy) remains unremedied within 14 days of service of a notice specifying
        the breach and requiring it to be remedied in circumstances in which any
        such breach might reasonably be expected to jeopardise or damage the reputation
        of the Company if the appointment was not terminated;

	 	 	 
	 	(c) 	 Mirabaud Securities commits a fraudulent act, or commits
        any material breach of the AIM Rules, FSMA, the Code of Market Conduct
        published by the FSA or any other laws or regulations to which Mirabaud
        Securities is subject from time to time;

	 	 	 
	 	(d) 	 any warranty or representation given by Mirabaud Securities
        in this Agreement is found to be untrue or misleading in any respect which
        is material;

	 	 	 
	 	(e) 	 Mirabaud Securities ceasing to be registered with London
        Stock Exchange as a member firm; or

	 	 	 
	 	(f) 	 Mirabaud Securities ceasing to be regulated and authorised
        by the FSA.

	7.3 	 Mirabaud Securities may terminate its appointment
        forthwith by giving written notice to the Company in any one of the following
        events or circumstances:

	 	 	 
		(a) 	 the Company does not pay any sum payable under this
        Agreement within 30 days of the due date;

	 	 	 
		(b) 	 the Company commits any material breach of any of the
        terms and conditions of this Agreement, which breach (if capable of remedy)
        remains unremedied within 14 days of service of a notice specifying the
        breach and requiring it to be remedied in circumstances in which any such
        breach might reasonably be expected to jeopardise or damage the reputation
        of Mirabaud Securities if the appointment was not terminated;

	 	 	 
		(c) 	 any Director commits a fraudulent act, or the Company
        or any Director commits any material breach of the AIM Rules, FSMA, the
        Code of Market Conduct published by the FSA or any other laws or regulations
        to which the Company or the Directors are subject from time to time;

	 	 	 
		(d) 	 the Company fails to comply with advice given to the
        Company or the Directors by Mirabaud Securities such that, in the reasonable
        opinion of Mirabaud Securities, such failure could jeopardise or damage
        the reputation of Mirabaud Securities;

7

	 	(e) 	 any warranty or representation given by the Company
        or a Director in this Agreement is found to be untrue or misleading in
        any respect which is material;

	 	 	 
	 	(f) 	 any step is taken by any person with a view to the administration
        of the Company under Part II of the Insolvency Act 1986;

	 	 	 
	 	(g) 	 the Company stops or suspends or threatens to stop or
        suspend payment of all or a material part of (or a particular type of)
        its debts or is unable to pay its debts or is deemed unable to do so under
        Section 123(1) or (2) Insolvency Act 1986;

	 	 	 
	 	(h) 	 the Directors make any proposal under Section 1 of the
        Insolvency Act 1986 or the Company proposes or makes any agreement for
        the deferral, resettling or other readjustment (or proposes or makes a
        general assignment of or arrangement or composition for the benefit of
        the relevant creditors) of all (or all of a particular type) of its debts,
        or a moratorium is agreed or declared in respect of, or affecting all
        or a material part (or of a particular type) of the debts of, the Company;

	 	 	 
	 	(i) 	 the appointment of a receiver, administrative receiver,
        manager or similar person to enforce a security given by the Company;
        or

	 	 	 
	 	(j) 	 any step is taken by the Company with a view to its
        winding-up or any person presents a winding-up petition (other than for
        frivolous or vexatious reasons) which is not dismissed within 14 days
        or the Company ceases or threatens to cease to carry on all or a material
        part of its business, except for the purposes of and followed by reconstruction,
        amalgamation, reorganisation, merger or consolidation on terms approved
        by Mirabaud Securities before that step is taken.

	7.4 	 Each defaulting party shall notify the other
        party promptly upon the occurrence of a termination event as set out in
        Clauses 7.2 and 7.3 of this Agreement (a "Termination Event") or
        any event or circumstance which may reasonably be expected to give rise
        to the occurrence of a Termination Event.

	 	 	 
	7.5 	 Upon the occurrence of a Termination Event
        the non-defaulting party shall be entitled to terminate the appointment
        referred to in this Agreement forthwith by written notice to the other
        party.

	 	 	 
	7.6 	 Upon termination of the appointment referred
        to in this Agreement:-

	 	 	 
		(a) 	 the rights and obligations of the parties under this
        Agreement shall terminate and be of no further effect, except that Clauses
        3.2 and 8 of this Agreement shall remain in

8

	 		 full force and effect;

	 	 	 
	 	(b) 	 any rights or obligations to which any of the parties
        to this Agreement may be entitled or be subject to in relation to such
        appointment before such termination shall remain in full force and effect;
        and

	 	 	 
	 	(c) 	 the termination shall not affect or prejudice any right
        to damages or other remedy which the terminating parties may have in respect
        of the Termination Event which gave rise to the termination or any other
        right to damages or other remedy which any party may have in respect of
        any breach of this Agreement which existed at or before the date of termination.

	8. 	 Indemnities

	 	 
	8.1 	 No claim shall be made by the Company or any of the
        Directors against Mirabaud Securities, or any subsidiary undertaking or
        holding company of Mirabaud Securities or any subsidiary undertaking of
        any holding company of Mirabaud Securities or any of its directors, officers,
        or employees (each, together with Mirabaud Securities, for the purposes
        of this Clause 8 an “Indemnified Person”) to recover
        any loss, damage, cost, charge or expense which the Company, the Directors
        or any holder of Common Shares or other securities of the Company may
        suffer or incur by reason of or arising out of the carrying out by Mirabaud
        Securities, or on its behalf, of its obligations and services under and
        in accordance with this Agreement except to the extent that such loss,
        damage, cost, charge or expense arises from the fraud, negligence or wilful
        default of Mirabaud Securities or any other Indemnified Person, any failure
        by Mirabaud Securities to comply with its obligations under this Agreement
        or any breach by Mirabaud Securities or any other Indemnified Person of
        the AIM Rules or the FSA's handbook of rules and guidance.

	 	 
	8.2 	 Without prejudice to the rights of Mirabaud Securities
        as agent of the Company under common law, the Company hereby undertakes
        to Mirabaud Securities (for itself and as a trustee (but on terms that
        it shall be entitled in its own discretion to waive any entitlement hereunder
        (or otherwise make settlements with respect hereto) to such extent as
        it may think fit having regard to its own and any other interest it may
        determine) for each and every other Indemnified Person) to indemnify each
        Indemnified Person against all or any claims (whether or not successful,
        compromised or settled), actions, liabilities, demands, proceedings or
        judgements brought or established against any Indemnified Person in any
        jurisdiction by any holder of Common Shares or by any governmental agency
        or regulatory body or any other person whatsoever and against all losses,
        reasonable costs, charges, expenses (including legal fees reasonably and
        properly incurred) or taxes (including, VAT, stamp duty and SDRT but excluding
        corporation tax on normal trading profits) which any Indemnified Person
        may

9

suffer or incur (including, but not limited
  to, all such losses, reasonable costs, charges, reasonable expenses or taxes
  suffered or properly incurred in disputing any claim, action, liability, demand
  or proceedings aforesaid or in establishing its right to be indemnified pursuant
  to this Clause 8.2) and which in any such case arises, directly or indirectly,
  out of or is attributable to or is in connection with: 

	 	(a) 	 the neglect or default of the Company; or

	 	 	 
	 	(b) 	 Mirabaud Securities acting as broker to the Company
        in accordance with the terms of this Agreement and the AIM Rules;

		 unless and to the extent that any of them
        arises from the fraud, negligence or wilful default of any Indemnified
        Person or any failure by Mirabaud Securities to comply with its obligations
        under this Agreement or any breach by Mirabaud Securities or any other
        Indemnified Person of the AIM Rules or the FSA's handbook of rules and
        guidance.

	 	 	 
	8.3 	 If Mirabaud Securities becomes aware of any
        claim made or threatened within the scope of the indemnity set out in
        this Clause 8, Mirabaud Securities shall promptly notify the Company thereof
        and shall thereafter (subject to the Indemnified Person being indemnified
        and secured to their reasonable satisfaction by the Company against all
        costs, charges, damages and expenses the Indemnified Person may suffer
        or incur as a result of so doing), subject to the requirements (if any)
        of the Indemnified Person's insurers, consult with the Company regarding
        the Indemnified Person's conduct of the Claim and shall provide the Company
        with such information and copies of such documents relating to the claim
        as the Company may reasonably require provided that the Indemnified Person
        shall not be under any obligation to take into account any requirements
        of the Company in connection with such conduct nor to provide the Company
        with a copy of any document which is, or in the reasonable opinion of
        the Indemnified Person's advisers, is likely to be privileged in the context
        of the claim.

	 	 	 
	8.4 	 If the Company becomes aware of any claim
        made or threatened within the scope of the indemnity set out in this Clause
        8 or any matter which may give rise to a claim the Company shall notify
        Mirabaud Securities and shall provide the Indemnified Persons with such
        information and copies of such documents relating to the claim as they
        may reasonably require provided that the Company shall not be required
        to do so to the extent that:

	 	 	 
		(a) 	 the Company in good faith considers a relevant document
        to be subject to a bona fide duty of confidentiality owed by it
        to a third party or to be privileged in the context of any litigation
        by the Company against the Indemnified Person (or vice versa) connected
        with the claim; or

10

	 	(b) 	 it would prejudice any insurance cover to which the
        Company may from time to time be entitled.

	8.5 	 The Company will not without the prior written consent
        of Mirabaud Securities settle or compromise or consent to the entry of
        any judgement with respect to any pending or threatened claim in respect
        of which indemnification may be sought by any Indemnified Person under
        this Clause 8 (whether or not the Indemnified Person is an actual or potential
        party to such claim) unless such settlement, compromise or consent includes
        an unconditional release of the Indemnified Person from all liability
        arising out of such claim.

	 	 
	8.6 	 Mirabaud Securities may defend, compromise, settle or
        deal with any claim made or threatened within the scope of the indemnity
        set out in this Clause 8 as it sees fit (having considered the Company’s
        reasonable requests).

	 	 
	8.7 	 Each Indemnified Person shall be entitled to enforce
        its rights under this Clause 8 pursuant to the Contracts (Rights of Third
        Parties) Act 1999, notwithstanding that such Indemnified Person is not
        a party to this Agreement.

	 	 
	9. 	 Withholding and Grossing-up

	 	 
	9.1 	 All sums payable to Mirabaud Securities under this Agreement
        shall be paid free and clear of all deductions or withholdings unless
        the deduction or withholding is required by law, in which event the relevant
        person shall pay such additional amount as shall be required to ensure
        that the net amount received by Mirabaud Securities will equal the full
        amount which would have been received by it had no such deduction or withholding
        been made.

	 	 
	9.2 	 If the United Kingdom Inland Revenue or any other tax
        authority brings into charge to tax (or into any computation of income,
        profit or gains for the purposes of any charge to tax) any sum payable
        to Mirabaud Securities under this Agreement (other than the fees due under
        Clause 3), then the person liable to make such payment shall pay such
        additional amount as shall be required to ensure that the total amount
        paid, less the tax chargeable thereon (or that would be so chargeable
        but for the availability of relief in respect of that charge to tax),
        is equal to the amount that would otherwise be payable to Mirabaud Securities
        under this Agreement (additional payments being made on demand of Mirabaud
        Securities).

	 	 
	9.3 	 If, on payment of an additional amount to Mirabaud Securities
        under Clause 9.1 or 9.2 Mirabaud Securities determines that it has received
        or been granted (and has derived full use and benefit from) a credit against,
        relief or remission for, or repayment of, any tax in respect of or calculated
        with reference to the additional amount paid, Mirabaud Securities shall,
        to the extent that it can do so without prejudice to the retention of
        such credit, relief, remission

11

or repayment, pay to the Company such
  amount as Mirabaud Securities shall, acting reasonably, determine to be the
  proportion of such credit, relief, remission or repayment as will leave Mirabaud
  Securities after such payment in the same after tax position it would have been
  in (after taking into account all reasonable expenses incurred in determining
  or, if necessary, claiming the appropriate credit, relief, remission or repayment)
  if no additional amount has been required to be paid. Provided always that:

	 	(a) 	 Mirabaud Securities’ determination of any amount
        payable under this Clause 9.3 and the date by which it shall be paid shall
        be final and binding (subject to Mirabaud Securities’ right to adjust
        the amount determined should the initial determination prove to be incorrect);

	 	 	 
	 	(b) 	 Mirabaud Securities shall have absolute discretion as
        to the order and manner in which it employs or claims tax credits and
        allowances available to it and generally as to the conduct of its tax
        affairs; and

	 	 	 
	 	(c) 	 Mirabaud Securities shall not be obliged to disclose
        any information regarding its tax affairs or tax computations.

	10. 	 Notices

	 	 
	10.1 	 Any notices or other communication required to be given
        or served under or in connection with this Agreement shall be in writing
        and shall be sufficiently given or served if delivered:

	 	(a) 	 in the case of the Company or to the Directors to:

	 	Address: 	Suite 300, 570 Granville Street, Vancouver, British
      Columbia V6C 3P1 Canada 
	 	 	 
	 	Fax: 	+1 604 681 4692 
	 	 	 
	 	Attention: 	Sandra Lee, Secretary 

12

	 	(b) 	 if to Mirabaud Securities to:

	 	Address: 	21 St James’s Square, London SW1Y 4JP United
      Kingdom 
	 	 	 
	 	Fax: 	+44 20 7930 4066 
	 	 	 
	 	Attention: 	The Compliance Officer 

	10.2 	 Any such notice shall be delivered by hand or sent by
        fax transmission or pre-paid first class post and if delivered by fax
        shall conclusively be deemed to have been given or served at the time
        of printout of a transmission report showing that the correct number of
        pages has been sent without error and if sent by post shall conclusively
        be deemed to have been received 10 days after the time of posting.

	 	 
	11. 	 Change of Director

	 	 
	11.1 	 The obligations of each of the Directors hereunder shall
        apply for so long as he remains a director of the Company.

	 	 
	11.2 	 The Company shall procure that each new director of
        the Company appointed after the date of this Agreement as a director of
        the Company shall enter into an Agreement provided by Mirabaud Securities
        in substantially the same form as this Agreement.

	 	 
	12. 	 Miscellaneous

	 	 
	12.1 	 No party may assign any or all of its rights or obligations
        under this Agreement, save that Mirabaud Securities may assign the benefit
        of this Agreement to any holding company or subsidiary of Mirabaud Securities
        or any subsidiary of such holding company.

	 	 
	12.2 	 This Agreement contains the entire agreement between
        the parties or any of them in connection with the appointment of Mirabaud
        Securities as the Company’s broker.

	 	 
	12.3 	 No purported variation of this Agreement shall be effective
        unless made in writing and signed by each of the parties to this Agreement.

	 	 
	12.4 	 A failure or delay by any party in exercising any right
        under this Agreement shall not impair such right or be construed as a
        waiver of it nor shall any single or partial exercise of any right preclude
        any other or further exercise of it or the exercise of any other right.

13

	12.5 	 Save to the extent that third party rights are conferred
        in this Agreement on a person by express reference to the Contracts (Right
        of Third Parties) Act 1999, a person who is not a party to this Agreement
        has no right to enforce any term of this Agreement under that Act.

	 	 
	12.6 	 If at any time any provision of this Agreement is or
        becomes illegal, invalid or unenforceable in any respect under the law
        of any jurisdiction, neither the legality, validity or enforceability
        of the remaining provisions, or the legality, validity or enforceability
        of such provision under the law of any other jurisdiction shall be affected
        or impaired in any way.

	 	 
	12.7 	 If any party defaults in the payment when due of any
        sum payable under this Agreement (whether determined by agreement or pursuant
        to an order of a court or otherwise) the liability of that party shall
        be increased to include interest on such sum from the due date until the
        date of actual payment at the rate of 2 per cent above the base annual
        lending rate from time to time of the Royal Bank of Scotland plc. Such
        interest shall accrue from day to day, be compounded monthly and calculated
        on the basis of a 365 day year.

	 	 
	12.8 	 This Agreement may be executed in any number of counterparts
        and by different parties on separate counterparts, each of which when
        so executed and delivered, and which delivery may be by telecopier, shall
        be an original, but all of the counterparts shall together constitute
        one and the same instrument.

	 	 
	13. 	 Governing Law

	 	 
		 The construction, validity and performance of this Agreement
        shall be governed by English Law and the parties irrevocably submit to
        the non-exclusive jurisdiction of the Courts of England.

IN WITNESS whereof this Agreement has been executed the
  day and year first above written. 

14

Schedule 1 

The Directors 

	Name 	Address 
	  	  
	DAVID HARRY WILLIAMSON DOBSON 	P.O. Box 370 
	  	Kirkland Lake, Ontario P2N 3J1 
	  	Canada 
	 	 
	BRIAN ANTHONY HINCHCLIFFE 	P.O. Box 370 
	  	Kirkland Lake, Ontario P2N 3J1 
	  	Canada 

15

	SIGNED by 	) 	  
	 	 	 
	duly authorised for and on behalf of 	) 	(Signed) Brian A. Hinchcliffe 
	 	 	 
	KIRKLAND LAKE GOLD INC. 	) 	Signature 
	 	 	 
	in the presence of:- 	) 	CEO 
	 	 	 
	  	  	Title 
	 	 	 
	  	  	  
	SIGNED by 	) 	  
	 	 	 
	duly authorised for and on behalf of 	) 	(Signed) N. Tissot 
	 	 	 
	MIRABAUD SECURITIES LIMITED 	) 	Signature 
	 	 	 
	in the presence of:- 	) 	Director 
	 	 	 
	  	  	Title 

	SIGNED by DAVID HARRY WILLIAMSON DOBSON 	(Signed) D. Harry W. Dobson 
	 	 
	SIGNED by BRIAN ANTHONY HINCHCLIFFE 	(Signed) Brian A. Hinchcliffe 

16

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00108-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00108-of-00352.parquet"}]]