Document:

Filed by Automated Filing Services Inc. (604) 609-0244 - Nord Resources Corporation - Exhibit 10.76

THE SECURITIES OFFERED HEREBY HAVE NOT BEEN REGISTERED UNDER
THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE
"1933 ACT"), AND ARE PROPOSED TO BE ISSUED IN RELIANCE UPON AN EXEMPTION FROM
THE REGISTRATION REQUIREMENTS OF THE 1933 ACT. SUCH SECURITIES MAY NOT BE
REOFFERED FOR SALE OR RESOLD OR OTHERWISE TRANSFERRED EXCEPT IN ACCORDANCE WITH
THE PROVISIONS OF REGULATION S, PURSUANT TO AN EFFECTIVE REGISTRATION UNDER THE
1933 ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM REGISTRATION UNDER THE 1933
ACT. HEDGING TRANSACTIONS INVOLVING THE SECURITIES MAY NOT BE CONDUCTED UNLESS
IN COMPLIANCE WITH THE 1933 ACT. 

NORD RESOURCES CORPORATION 

SUBSCRIPTION AGREEMENT 
for 
SPECIAL WARRANTS 

THE SPECIAL WARRANTS BEING OFFERED FOR SALE MAY ONLY BE
PURCHASED 
BY SUBSCRIBERS IN THE UNITED STATES OF AMERICA 
BY
SUBSCRIBERS IN CANADA, AND
BY SUBSCRIBERS IN OTHER OFF-SHORE
JURISDICTIONS 

INSTRUCTIONS 

All Subscribers: 

Complete and sign the Execution Page of the Subscription
Agreement. 

Canadian Subscribers only: 

Canadian subscribers should also complete and sign schedule B
attached to the Subscription Agreement and appendix A attached thereto (this
schedule does not have to be completed and signed by U.S. subscribers ).

U.S. Subscribers only: 

U.S. subscribers should also complete and sign schedule C attached
to the Subscription Agreement. 

_______________________________________

A completed and originally executed copy of, and the other
documents required to be delivered with, this Subscription Agreement must be
delivered, by no later than 1:00 p.m. (Toronto time) on June 1, 2007, on behalf
of the Agents, to Blackmont Capital Inc., BCE Place, P.O. Box 779, Suite
2800, 181 Bay Street, Toronto, Ontario, M5J 2T3, Attention: Michael Chow (Tel:
416-864-2106, Fax: 416-864-<>) or as otherwise directed by the Agents.

__________________________________________ 

CAUTION 

NORD RESOURCES CORPORATION (THE “CORPORATION”) IS A
CORPORATION INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE. THE
CORPORATION FILES REPORTS WITH THE UNITED STATES SECURITIES AND EXCHANGE
COMMISSION (“SEC”) PURSUANT TO THE UNITED STATES SECURITIES EXCHANGE ACT OF
1934, AS AMENDED (THE “1934 ACT”). HOWEVER, THE CORPORATION IS NOT A “REPORTING
ISSUER” IN CANADA AS THAT TERM IS DEFINED UNDER APPLICABLE SECURITIES LAWS IN
CANADA. OTHER THAN TRADING OF THE CORPORATION’S COMMON STOCK ON THE PINK SHEETS
LLC, NO SECURITIES OF THE CORPORATION ARE LISTED ON ANY STOCK EXCHANGE OR QUOTED
ON ANY QUOTATION OR TRADE REPORTING SYSTEM. THERE IS NO ASSURANCE THAT THE
CORPORATION WILL BECOME A “REPORTING ISSUER” IN CANADA OR THAT THERE WILL EVER
BE A MARKET FOR SECURITIES OF THE CORPORATION OTHER THAN THROUGH THE PINK SHEETS
LLC. THE SECURITIES OF THE CORPORATION SUBSCRIBED FOR HEREUNDER AND THE
SECURITIES OF THE CORPORATION ISSUABLE 

THEREUNDER MAY BE SUBJECT TO INDEFINITE RESALE RESTRICTIONS UNDER APPLICABLE SECURITIES LAWS. INVESTORS ARE URGED TO CONSULT WITH THEIR PROFESSIONAL ADVISORS WITH RESPECT TO RESALE RESTRICTIONS APPLICABLE TO SECURITIES OF THE CORPORATION. 

SUBSCRIPTION AGREEMENT FOR SPECIAL WARRANTS 

	TO: 	Nord Resources Corporation 
	AND TO: 	Blackmont Capital Inc. and Salman Partners
      Inc. 
	AND TO: 	Blackmont Capital Corp.

The undersigned (the “Subscriber”) hereby irrevocably
subscribes for and agrees to purchase the number of Special Warrants (as
hereinafter defined) of Nord Resources Corporation (the “Corporation”) set forth
below for the aggregate purchase price set forth below, representing a purchase
price of$0.75 per Special Warrant, upon and subject to the terms and conditions
set forth in the following pages of this subscription agreement (together with
the attached Terms and Conditions of Subscription for Special Warrants and the
schedules, collectively, referred to herein as the “Subscription Agreement” or
the “Agreement”). In addition to this Execution Page, the Subscriber must
also complete all applicable schedules which form part of this Subscription
Agreement. 

	  	  	 	Number of Special Warrants: 
	(Name of Subscriber - please print) 	 	 
	By: 	  	 	 
	 	(Authorized Signature)	 	Aggregate Purchase Price: 
	 
    	  	 	 
	(Official Capacity or Title - please print) 	 	 
	  	  	 	If the Subscriber is signing as agent
      for a principal 
	(Please print name of individual whose signature appears
      above if 	 	(beneficial purchasers) and is not purchasing
      as a trust 
	different than the name of the subscriber printed above.)
    	 	company or a portfolio manager, or, in
      any case, 
	  	  	 	purchasing as trustee or agent for accounts
      fully 
	  	  	 	managed by it, complete the following
      and ensure that 
	(Subscriber’s Address) 	 	schedule B or C, as applicable, is completed
      in respect of 
	  	  	 	such principal: 
	  	  	 	 
	  	  	 	(Name of Principal) 
	(Telephone Number)                                         
      (E-Mail Address) 	 	 
	  	  	 	(Principal’s Address) 
	  	  	 	 
	  	  	 	 
	  	  	 	(Principal’s Telephone Number)	(Principal’s E-Mail Address) 
	  	  	 	 
	Register the Special Warrants as set forth below:
    	 	Deliver the Special Warrants as set
      forth below: 
	 
    	  	 	 
	(Name) 	 	(Name) 
	 	 	 
	(Account reference, if applicable) 	 	(Account reference, if applicable) 
	 	 	 
	(Address) 	 	(Contact Name) 
	 	 	 
	 	 	(Address) 
	 	 	 
	 	 	(Telephone Number) 	(E-Mail Address) 

ACCEPTANCE: The Corporation hereby accepts the
subscription as set forth above on the terms and conditions contained in this
Subscription Agreement and the Corporation represents and warrants to the
Subscriber that the representations and warranties made by the Corporation to
the Agents (as hereinafter defined) in the Agency Agreement (as hereinafter
defined) are true and correct in all material respects as of the Closing Date
(as hereinafter defined) (save and except as waived in whole or in part by the
Agents) and that the Subscriber is entitled to rely thereon. 

_______________________, 2007 

	NORD RESOURCES CORPORATION 	Subscription No: 
	 	 
	By: _____________________________________	  

Execution Page

TERMS AND CONDITIONS OF SUBSCRIPTION FOR SPECIAL WARRANTS

	1. 	
      Definitions

	 	 
		
      In this Agreement, unless the context otherwise
      requires:

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

	 	 	 
	 	(ii) 	
      “Agency Agreement” means the agency agreement to be dated
      on or before the Closing Date between the Corporation and the
    Agents;

	 	 	 
	 	(iii) 	
      “Agents” means collectively Blackmont Capital Inc.,
      Salmon Partners Inc. and the Placement Agent;

	 	 	 
	 	(iv) 	
      “Agreement” or “Subscription Agreement” means this
      subscription agreement, including all schedules hereto, as the same may be
      amended, supplemented or restated from time to time;

	 	 	 
	 	(v) 	
      “Business Day” means a day on which Canadian chartered
      banks are open for the transaction of regular business in the City of
      Vancouver, British Columbia;

	 	 	 
	 	(vi) 	
      “Compensation Shares” means the Common Shares issuable
      pursuant to the compensation options to be issued to the Agents in
      connection with the Closing of the offering of the Offered
    Securities;

	 	 	 
	 	(vii) 	
      “Closing” means the closing of the purchase and sale of
      the Offered Securities;

	 	 	 
	 	(viii) 	
      “Closing Date” means June 5,, 2007 or such other date as
      the Corporation and the Agents may mutually agree;

	 	 	 
	 	(ix) 	
      “Common Shares” means the shares of common stock of the
      Corporation, par value U.S.$0.01 per share, as constituted on the date
      hereof;

	 	 	 
	 	(x) 	
      “Corporation” means Nord Resources Corporation, a
      corporation incorporated under the laws of the State of Delaware and
      includes any successor corporation thereto;

	 	 	 
	 	(xi) 	
      “Dollars” or “$” means lawful money of the United States
      of America;

	 	 	 
	 	(xii) 	
      “Expiry Date” means 4:59 p.m. (Vancouver time) on the
      earliest to occur of:

	 	A. 	
      the date which is the third Business Day following the
      Qualification Date,

	 	 	 
	 	B. 	
      the date that is four months and one day following the
      Reporting Issuer Date; and

	 	 	 
	 	C. 	
      the date which is two years following the Closing
      Date;

	 	(xiii) 	
      “Final Prospectus” means the final prospectus of the
      Corporation which qualifies the distribution of the Special Warrant
      Shares, Warrants and the Warrant Shares in the Qualifying
      Jurisdictions;

	 	 	 
	 	(xiv) 	
      “Liquidity Incentive” has the meaning ascribed to such
      term in section 2 hereof;

	 	 	 
	 	(xv) 	
      “MRRS” means the mutual reliance review system
      established under National Policy 43-201;

	 	 	 
	 	(xvi) 	
      “National Policy 43-201” means National Policy 43-201 –
      Mutual Reliance Review System for Prospectuses and Annual Information
      Forms;

	 	 	 
	 	(xvii) 	
      “NI 45-106” means National Instrument 45-106 –
      Prospectus and Registration Exemptions of the Canadian Securities
      Administration;

2 

	 	(xviii) 	
      “Offered Securities” means the up to 30,666,700 Special
      Warrants of the Corporation offered for sale by the Agents;

	 	 	 
	 	(xix) 	
      “Person” means an individual, a firm, a corporation, a
      syndicate, a partnership, a trust, an association, an unincorporated
      organization, a joint venture, an investment club, a government or an
      agency or political subdivision thereof and every other form of legal or
      business entity of whatsoever nature or kind;

	 	 	 
	 	(xx) 	
      “Placement Agent” means Blackmont Capital
Corp.;

	 	 	 
	 	(xxi) 	
      “Preliminary Prospectus” means the preliminary prospectus
      of the Corporation which is to qualify the distribution of the Special
      Warrant Shares, Warrants and the Warrant Shares in the Qualifying
      Jurisdictions;

	 	 	 
	 	(xxii) 	
      "Public Record" means the Corporation’s annual report on
      Form 10-KSB for the year ended December 31, 2006, the quarterly report
      filed on Form 10-QSB for the quarter ended March 31, 2007, and the current
      reports filed on Form 8-K since December 31, 2006.

	 	 	 
	 	(xxiii) 	
      “Purchase Price” means $0.75 per Special
  Warrant;

	 	 	 
	 	(xxiv) 	
      “Purchased Securities” means the Offered Securities
      purchased by the Subscriber pursuant to this Subscription
  Agreement;

	 	 	 
	 	(xxv) 	
      “Qualification Date” means the date on which the British
      Columbia Securities Commission, or such other applicable securities
      commission of a Canadian province, as the principal regulator under
      National Policy 43-201 and the MRRS, issues a decision document evidencing
      that each of the Securities Commissions has issued a receipt for the Final
      Prospectus;

	 	 	 
	 	(xxvi) 	
      “Qualification Deadline” means 5.00 p.m. (Vancouver time)
      on the first Business Day which is not less than 180 days after the
      Closing Date;

	 	 	 
	 	(xxvii) 	
      “Qualifying Jurisdictions” means those provinces of
      Canada where Subscribers for Offered Securities are located and any other
      jurisdiction in Canada in which the Corporation is required to file the
      Final Prospectus pursuant to an agreement between the Corporation and the
      Agents, or otherwise;

	 	 	 
	 	(xxviii) 	
      “Registerable Securities” means the Special Warrant
      Shares, the Warrant Shares and the Compensation Shares;

	 	 	 
	 	(xxix) 	
      “Registration Statement” means the registration statement
      of the Corporation filed with the SEC, as amended and supplemented, in
      order to register the Registerable Securities;

	 	 	 
	 	(xxx) 	
      “Regulation D” means Regulation D under the 1933
    Act;

	 	 	 
	 	(xxxi) 	
      “Regulation S” means Regulation S under the 1933
    Act;

	 	 	 
	 	(xxxii) 	
      “Reporting Issuer Date” means the date on which the
      Corporation becomes a reporting issuer in a jurisdiction of
  Canada;

	 	 	 
	 	(xxxiii) 	
      “SEC” means the Securities and Exchange Commission of the
      United States;

	 	 	 
	 	(xxxiv) 	
      “Securities Commission” means collectively the securities
      regulatory authorities of the Qualifying Jurisdictions;

	 	 	 
	 	(xxxv) 	
      “Securities Laws” means the securities legislation and
      regulations of, and the instruments, policies, rules, orders, codes,
      notices and published interpretation notes of the applicable securities
      regulatory authority or applicable securities regulatory authorities of,
      the applicable jurisdiction or jurisdictions;

3 

	 	(xxxvi) 	
      “Special Warrant Trustee” means an institution to be
      appointed in such capacity under the Special Warrant Indenture, and its
      successors and permitted assigns; <>[NTD: American Stock Transfer
      Company is not willing to commit to act as Special Warrant Trustee until
      it and its counsel have had an opportunity to review the Special Warrant
      Indenture.]

	 	 	 
	 	(xxxvii) 	
      “Special Warrant Indenture” means the special warrant
      indenture to be dated as of the Closing Date between the Corporation and
      the Special Warrant Trustee pursuant to which the Special Warrants will be
      issued;

	 	 	 
	 	(xxxviii) 	
      “Special Warrant Shares” means the Common Shares issuable
      upon the exercise of the Special Warrants;

	 	 	 
	 	(xxxix) 	
      “Special Warrants” means the special warrants of the
      Corporation, each special warrant entitling the holder to receive, without
      payment of any additional consideration, one Special Warrant Share and
      one-half of one Warrant, subject to adjustment in accordance with the
      provisions of the Special Warrant Indenture;

	 	 	 
	 	(xl) 	
      “Subject Shares” means the Special Warrant Shares and
      Warrant Shares collectively;

	 	 	 
	 	(xli) 	
      “Subscriber” or “you” means the Person purchasing the
      Purchased Securities and whose name appears on the Execution Page
      hereof;

	 	 	 
	 	(xlii) 	
      “Underlying Securities” means the Special Warrant Shares
      and the Warrants issuable pursuant to the Special Warrants;

	 	 	 
	 	(xliii) 	
      “United States” means the “United States” as that term is
      defined in Regulation S;

	 	 	 
	 	(xliv) 	
      “U.S. Accredited Investor” means an “accredited investor”
      as that term is defined in Rule 501(a) of Regulation D; <>[NTD:
      Should this be limited to institutional accredited investors falling
      within Rule 501(a)(1), (2), (3) or (7)?]

	 	 	 
	 	(xlv) 	
      “U.S. Person” means a “U.S. person” as that term is
      defined in Regulation S;

	 	 	 
	 	(xlvi) 	
      “U.S. Subscriber” means (a) any Person purchasing the
      Offered Securities in the United States, (b) any U.S. Person, (c) any
      Person purchasing the Offered Securities on behalf of any Person in the
      United States or any U.S. Person, (d) any Person that receives or received
      an offer for the Offered Securities while in the United States, or (d) any
      Person that is in the United States at the time the buy order was made or
      the Subscription Agreement was executed;

	 	 	 
	 	(xlvii) 	
      “Warrant Indenture” means the warrant indenture to be
      dated the Closing Date between the Corporation and <>, as warrant
      agent, pursuant to which the Warrants will be issued;

	 	 	 
	 	(xlviii) 	
      “Warrant Shares” means the Common Shares issuable upon
      the exercise of the Warrants; and

	 	 	 
	 	(xlix) 	
      “Warrants” means the warrants to purchase Common Shares
      of the Corporation, each whole Warrant entitling the holder thereof to
      acquire one Warrant Share at any time from the date of issue of the
      Warrants until 5:00 p.m. (Vancouver time) on the date which is 60 months
      after the Closing Date at an exercise price of $1.10, subject to
      adjustment in accordance with the provisions of the Warrant
    Indenture.

4 

	2. 	The Offering 

This Subscription Agreement confirms the Subscriber’s agreement
to purchase from the Corporation, subject to the terms and conditions set forth
herein, that number of Special Warrants, at the price of $0.75 per Special
Warrant (the “Purchase Price”), set out beside your name on the Execution Page
hereof (the “Purchased Securities”). The Subscriber acknowledges (on its own
behalf and, if applicable, on behalf of each beneficial purchaser for whom the
Subscriber is contracting hereunder) that the Purchased Securities form part of
a larger sale of an aggregate of up to 30,666,700 Special Warrants (the “Offered
Securities”) pursuant to the Agency Agreement which are being offered on a
private placement basis to Persons resident in the Provinces of Canada as may be
agreed among the Corporation and the Agents, to U.S. Subscribers, and in certain
other jurisdictions outside of North America. A term sheet with respect to the
offering of the Offered Securities is attached hereto as schedule A. 

The Closing of the purchase and sale of the Offered
Securities is subject to the subscription by Subscribers for an aggregate of
26,666,667 Special Warrants ($20,000,000). Each Subscriber must purchase a
minimum of 66,667 Special Warrants ($50,000), or such other amount as may be
determined at the sole discretion of the Agents. 

Each Offered Security shall entitle the holder thereof to
receive, without the payment of additional consideration, upon the exercise ,
one Special Warrant Share and one-half of one Warrant (subject to adjustment as
provided in the Special Warrant Indenture), each Warrant being exercisable to
acquire one Common Share at an exercise price of $1.10 for a period of 60 months
after the Closing Date, subject to adjustment in accordance with the provisions
of the Special Warrant Indenture, until 5:00 p.m. (Vancouver time) on the Expiry
Date. Any Offered Securities not exercised prior to 5:00 p.m. (Vancouver time)
on the Expiry Date shall be deemed to be exercised immediately prior to such
time on the Expiry Date without any further action on the part of the
holder.

The Corporation covenants and agrees use commercially reasonable
  best efforts to prepare and file the Preliminary Prospectus in the Qualifying
  Jurisdictions and the Registration Statement with the SEC, and to use its reasonable
  best efforts to promptly finalize and file the Final Prospectus and cause the
  Registration Statement to be declared effective by the SEC and, in the case
  of the Final Prospectus, obtain from the British Columbia Securities Commission,
  or such other applicable securities commission of a Canadian province, as principal
  regulator under National Policy 43-201 and the MRRS, a decision document evidencing
  that receipts were obtained from each of the Securities Commissions for the
  Final Prospectus. In the event that (i) a decision document evidencing that
  receipts were obtained from each of the Securities Commissions is not received
  from the British Columbia Securities Commission, or such other applicable securities
  commission of a Canadian province, for the Final Prospectus or the Corporation
  otherwise fails to become a reporting issuer in a jurisdiction of Canada, or
  (ii) the Registration Statement has not been declared effective by the SEC,
  in each case, on or prior to the Qualification Deadline, the Corporation will
  pay to the Subscriber a liquidity incentive (the “Liquidity Incentive”)
  equal to 1% of the aggregate Purchase Price paid by the Subscriber for the Purchased
  Securities (which amount is set forth on the Execution Page of this Agreement)
  multiplied by the number of months (pro-rated for partial months) commencing
  on the Qualification Deadline and expiring on the later of (i) the Qualification
  Date or the date the Corporation otherwise becomes a reporting issuer in a jurisdiction
  of Canada, and (ii) the date on which the Registration Statement is declared
  effective by the SEC. 

Notwithstanding anything to the contrary contained herein (i)
  the total Liquidity Incentive payable to the Subscriber shall not exceed: (a)
  in any given month, 1% of the aggregate Purchase Price paid by the Subscriber
  for the Purchased Securities; or (b) an aggregate amount equal to 12% of the
  aggregate Purchase Price paid by the Subscriber for the Purchased Securities;
  the Liquidity Incentive shall be payable at the end of each month, and shall
  be subject to “gross up” to compensate for the impact of withholding
  taxes, if applicable, and (ii) to the extent that the registration by the Corporation
  of any or all of the Registerable Securities pursuant to the Registration Statement
  is prohibited (in this section, the “Non-Registered Securities”) as
  a result of rules, regulations, positions or releases issued or actions taken
  by the SEC pursuant to its authority with respect to Rule 415 under the 1933
  Act and the Corporation has registered at such time the maximum number of Registrable
  Securities permissible upon consultation with the SEC, then the Liquidity Incentive
  described herein shall not be applicable to such Non-Registered Securities.
  The above-mentioned “gross up” amount, 

5 

which may become payable to the Subscriber pursuant to this
section 2, shall be returned to the Corporation to the extent of any tax credit
or other form of refund or credit received by or credited to the Subscriber
subsequent to the date of any such payment in connection with the Liquidity
Incentive, provided that such tax credit or refund was directly connected to the
payment representing such “gross up”. 

If the Corporation does not obtain from the British Columbia
Securities Commission, or such other applicable securities commission of a
Canadian province, as principal regulator under National Policy 43-201 and the
MRRS, a decision document evidencing that receipts were obtained from each of
the Securities Commissions for the Final Prospectus, or the Registration
Statement has not been declared effective by the SEC, the Special Warrants, the
Special Warrant Shares, the Warrants and the Warrant Shares will be subject to
resale restrictions pursuant to applicable Securities Laws. Subscribers are
advised to consult their own legal advisors in this regard. 

	3. 	Special Warrants

The Offered Securities will be created and issued pursuant to
the Special Warrant Indenture. 

The specific attributes of the Offered Securities will be set
forth in the Special Warrant Indenture, which will provide, among other things,
that the holders of Offered Securities shall be entitled to receive, without
payment of any consideration in addition to the purchase price therefor, one
Special Warrant Share and one-half of one Warrant for each Special Warrant held,
subject to adjustment as provided in the Special Warrant Indenture. 

No fractional Warrants or Special Warrant Shares are issuable
pursuant to the exercise of the Special Warrants. If a holder of an Offered
Security would otherwise be entitled to a fractional Warrant or Special Warrant
Share pursuant to the exercise of the Special Warrants, the number of Warrants
or Special Warrant Shares to be issued shall be rounded down to the next whole
number (and the holder of such Special Warrants shall not be entitled to any
compensation in respect of such fraction). 

The foregoing description of the Offered Securities is a
summary only and is subject to the detailed provisions of the Special Warrant
Indenture pursuant to which the Offered Securities will be issued. In the event
of any inconsistency between the provisions hereof and the provisions of the
Special Warrant Indenture, the provisions of the Special Warrant Indenture shall
prevail and take precedence. 

	4. 	Conditions of Purchase
  

In connection with your purchase of the Purchased Securities,
the following documents are enclosed herewith which you are requested to
complete, sign as indicated and return together with an executed copy of this
Agreement (see “Execution Page”) as soon as possible and in any event no later
than 1:00 p.m. (Toronto time) on the date that is two Business Days prior to the
Closing Date: 

	 	(a) 	
      if you are, or if applicable, the beneficial purchaser
      for whom you are contracting hereunder is, a resident of, or otherwise
      subject to the Securities Laws of a province of Canada, schedule B, being
      the Certificate for Canadian Subscribers; and

	 	 	 
	 	(b) 	
      if you are or, if applicable, the beneficial person for
      whom you are contracting hereunder is, a U.S. Subscriber, schedule C,
      being the Certificate for U.S. Accredited
Investors.

The obligation of the Corporation to sell the Purchased
Securities to you is subject to, among other things, the conditions that:

	 	(a) 	
      you execute and return all documents required by
      applicable Securities Laws for delivery on your behalf, including the
      forms set out in schedules B and C attached hereto, as applicable, to
      Blackmont Capital Inc., on behalf of the Agents, as the sale of the
      Purchased Securities by the Corporation to you will not be qualified by a
      prospectus or registration statement;

	 	 	 
	 	(b) 	
      the representations and warranties made by you herein are
      true and correct when made and are true and correct on the Closing Date
      with the same force and effect as if they had been made on and as of such
      date;

6 

	 	(c) 	
      all covenants, agreements and conditions contained in
      this Agreement to be performed by you on or prior to the Closing Date
      shall have been performed or complied with; and

	 	 	 
	 	(d) 	
      all necessary regulatory approvals being obtained prior
      to the Closing Date.

By returning this Agreement you consent to the filing by the
Corporation of all documents required by applicable Securities Laws. 

If you are not subscribing for the Purchased Securities for
your own account and you are not a portfolio manager purchasing as agent for
accounts which are fully managed by you, each beneficial purchaser for whom you
are contracting hereunder must be purchasing the Purchased Securities as
principal for its own account and (unless you are an authorized agent with power
to sign on behalf of the beneficial purchaser) must execute all documents
required by applicable Securities Laws with respect to the Purchased Securities
being acquired by each such purchaser as principal. If you are signing as agent
or pursuant to a power of attorney for the Subscriber, you have authority to
bind the Subscriber.

You agree, and you agree to cause any beneficial purchaser for
whom you are contracting hereunder, to comply with all applicable Securities
Laws concerning the purchase of, the holding of, and the resale restrictions
applicable to, the Purchased Securities.

You acknowledge that the Corporation has the right to close the
subscription books at any time without notice and to accept or reject any
subscription in its sole discretion. If this subscription is rejected, in whole
or in part, you acknowledge that the unused portion of the aggregate Purchase
Price will be returned to you without interest. 

	5. 	The Closing 

The Closing will be completed at the offices of Lang Michener
LLP, Suite 1500, 1055 West Georgia Street, Vancouver, British Columbia V6E 4N7
[at 8:00 a.m.], Vancouver time, or such other time as the Corporation and
Blackmont Capital Inc., on behalf of the Agents, may agree on the Closing Date.
If, at the Closing, the terms and conditions contained in the Agency Agreement
have been complied with to the satisfaction of the Agents or waived by the
Agents, the Agents will deliver to the Corporation the aggregate gross
subscription proceeds and all completed subscription agreements, including this
Agreement, against delivery by the Corporation of certificates representing the
Offered Securities and such other documentation as may be reasonably requested
by the Agents. 

A certificate representing the Purchased Securities will
be available for delivery to you at Closing against payment to the Agent through
which you subscribed for the Purchased Securities of the aggregate amount of the
Purchase Price for the Purchased Securities in freely transferable United States
funds. Such payment is to be made no later than 1:00 p.m. (Toronto time) on the
date that is two Business Days prior to the Closing Date by bank draft,
certified cheque or other form of immediately available funds payable in favour
of the Agent through which you subscribed for the Purchased Securities or such
other Person as such Agent shall advise you. You hereby irrevocably
appoint any one of the Agents to act as your agent for the purpose of
acting as your representative at the Closing and hereby appoint any one of the
Agents, with full power of substitution, as your true and lawful attorney in
your place or stead to execute in your name and on your behalf all
closing receipts and documents required, to complete or correct any errors or
omissions in any form or document provided by you, including this Subscription
Agreement, to approve any opinion, certificate or other document addressed to
you, to waive, in whole or in part, any representation, warranty, covenant or
condition for your benefit and contained in the Agency Agreement or in this
Agreement, to exercise any right of termination contained in the Agency
Agreement, to terminate or not deliver this Agreement if any condition is not
satisfied, in such manner and on such terms and conditions as any one of the
Agents in the sole discretion thereof may determine and to accept delivery of
the certificate representing the Purchased Securities on the Closing Date. 

	6. 	Prospectus Exemptions
  

The sale of the Purchased Securities by the Corporation to you
is conditional upon such sale being exempt from the requirements as to the
filing of a prospectus or registration statement, and as to the preparation of
an 

7 

offering memorandum or similar document contained in any
statute, regulation, instrument, rule or policy applicable to the offer and sale
of the Purchased Securities or upon the issue of such orders, consents or
approvals as may be required to permit such sale without the requirement of
filing a prospectus or registration statement, or delivering an offering
memorandum or similar document.

You acknowledge and agree that:

	 	(a) 	
      you, or the beneficial purchasers for whom you are
      contracting hereunder, have been independently advised as to or are aware
      of the restrictions with respect to trading in, and the restricted period
      or statutory hold period applicable to, the Special Warrants, the Special
      Warrant Shares, the Warrants and the Warrant Shares imposed by the
      Securities Laws of the jurisdiction in which you reside or to which you
      are subject, that a suitable legend or legends will be placed on the
      certificates representing the Special Warrants, the Special Warrant
      Shares, the Warrants and the Warrant Shares to reflect the applicable
      restricted period and hold period to which the Special Warrants, the
      Special Warrant Shares, the Warrants and the Warrant Shares are
      subject;

	 	 	 	 
	 	(b) 	
      the Corporation is not currently a reporting issuer in
      Canada under applicable Securities Laws in Canada and, unless the
      Corporation receives a receipt for the Final Prospectus or otherwise
      becomes a reporting issuer under applicable Securities Laws of the
      Qualifying Jurisdictions, the restricted or hold period under the
      applicable Securities Laws in Canada applicable to the Special Warrants,
      the Special Warrant Shares, the Warrants and the Warrant Shares, will
      neither commence to run nor ever expire and that you may not be able to
      resell under the applicable Securities Laws in Canada the Special
      Warrants, the Special Warrant Shares, the Warrants and the Warrant Shares,
      except in accordance with limited exemptions available under the
      applicable Securities Laws in Canada;

	 	 	 	 
	 	(c) 	
      you, or any beneficial purchaser for whom you are
      contracting hereunder, have not received or been provided with a
      prospectus, registration statement, offering memorandum (within the
      meaning of the Securities Laws of the Qualifying Jurisdictions) or similar
      document and that your decision, or the decision of any beneficial
      purchaser for whom you are contracting hereunder, to enter into this
      Agreement and to purchase the Purchased Securities from the Corporation
      has not been based upon any verbal or written representation as to fact or
      otherwise made by or on behalf of the Corporation or any of the Agents
      (other than those contained in this Agreement, the Special Warrant
      Indenture and the Agency Agreement, in each case which will survive the
      Closing) and that your decision, or the decision of any beneficial
      purchaser for whom you are contracting hereunder, is based entirely upon
      such documents and publicly available information concerning the
      Corporation and, the sale of the Purchased Securities was not accompanied
      by any advertisement in printed media of general and regular paid
      circulation including printed public media, radio, television or
      telecommunications, including electronic display and the
  Internet;

	 	 	 	 
	 	(d) 	
      as a consequence of the sale being exempt from the
      prospectus requirements of the Securities Laws of the Qualifying
      Jurisdictions:

	 	 	 	 
	 		(i) 	
      certain protections, rights and remedies provided by the
      Securities Laws of the Qualifying Jurisdictions, including statutory
      rights of rescission or damages, will not be available to you, or any
      beneficial purchaser for whom you are contracting hereunder,

	 	 	 	 
	 		(ii) 	
      you, or any beneficial purchaser for whom you are
      contracting hereunder, may not receive information that would otherwise be
      required to be given under the Securities Laws of the Qualifying
      Jurisdictions, and

	 	 	 	 
	 		(iii) 	
      the Corporation is relieved from certain obligations that
      would otherwise apply under the Securities Laws of the Qualifying
      Jurisdictions; and

8 

	 	(e) 	
      no Person has made any written or oral
    representation:

	 	 	 	 
	 		(i) 	
      that any Person will resell or repurchase the Purchased
      Securities,

	 	 	 	 
	 		(ii) 	
      that any Person will refund the Purchase Price (other
      than pursuant to the terms of the Special Warrants),

	 	 	 	 
	 		(iii) 	
      as to the future price or value of the Special Warrants,
      the Special Warrant Shares, the Warrants or the Warrant Shares;
  or

	 	 	 	 
	 		(iv) 	
      that the Special Warrants, the Special Warrant Shares,
      the Warrants or the Warrant Shares will be listed or otherwise qualified
      for trading on any stock exchange or any quotation or stock reporting
      system.

You and any others for whom you are contracting hereunder
further acknowledge and agree that the Agents assume no responsibility or
liability of any nature whatsoever for the accuracy or adequacy of any such
publicly available information or other information relating to the Corporation
or as to whether all information concerning the Corporation required to be
disclosed by it has been generally disclosed.

By your acceptance of this Agreement, you and any others for
whom you are contracting hereunder represent, warrant, covenant, agree and
acknowledge, as applicable, to and with the Agents and to and with the
Corporation (which representations, warranties, covenants, agreements and
acknowledgements shall survive the Closing) that: 

	A. 	
      General:

	 	 	 
		(a) 	
      You are and any beneficial purchaser for whom you are
      contracting hereunder is resident in the jurisdiction set out under the
      heading “address” above your signature set forth on the Execution Page of
      this Agreement.

	 	 	 
		(b) 	
      If you are an individual, you have attained the age of
      majority in the jurisdiction in which you are subscribing and have the
      legal capacity and competence to enter into and be bound by this Agreement
      and to perform the covenants and obligations herein.

	 	 	 
		(c) 	
      If you are not an individual (i) you have the legal
      capacity to authorize, execute and deliver this Agreement, and (ii) the
      individual signing this Agreement has been duly authorized to execute and
      deliver this Agreement.

	 	 	 
		(d) 	
      None of the funds being used to purchase the Purchased
      Securities are to your knowledge proceeds obtained or derived directly or
      indirectly as a result of illegal activities.

	 	 	 
		(e) 	
      You are and any beneficial purchaser for whom you are
      contracting hereunder is at arm’s- length, within the meaning of the
      Securities Laws of British Columbia, with the Corporation.

	 	 	 
		(f) 	
      You are not and any beneficial purchaser for whom you are
      contracting hereunder is not a “promoter” of the Corporation within the
      meaning of the Securities Laws of British Columbia.

	 	 	 
		(g) 	
      You are not, with respect to the Corporation or any of
      its affiliates, a “control person” as defined under the Securities Laws of
      British Columbia and the purchase of the Purchased Securities hereunder
      and the exercise or deemed exercise of the Special Warrants will not
      result in you becoming a control person.

	 	 	 
		(h) 	
      If required by applicable Securities Laws or the
      Corporation, you will execute, deliver and file, or assist the Corporation
      in filing, such reports, undertakings and other documents with respect to
      the issue and/or sale of the Purchased Securities as may be required by
      any securities commission, stock exchange or other regulatory
      authority.

	 	 	 
		(i) 	
      Other than the Agents, there is no person acting or
      purporting to act in connection with the transactions contemplated herein
      who is entitled to any brokerage or finder’s fee. If any person
      establishes a claim that any fee or other compensation is payable in
      connection with

9 

	 		
      this subscription for the Purchased Securities, you
      covenant to indemnify and hold harmless the Corporation and the Agents
      with respect thereto and with respect to all costs reasonably incurred in
      the defence thereof.

	 	 	 
	 	(j) 	
      Legal counsel retained by the Corporation and legal
      counsel retained by the Agents are acting as counsel to the Corporation
      and the Agents, respectively, and not as counsel to you.

	 	 	 
	 	(k) 	
      If you are, or any beneficial purchaser for whom you are
      contracting hereunder is, a resident of or otherwise subject to the
      Securities Laws of a province or territory of Canada and cannot otherwise
      satisfy any of the requirements set forth in 6.B, you are, or any
      beneficial purchaser for whom you are contracting hereunder is, acquiring
      the Purchased Securities pursuant to and in compliance with an exemption
      from the prospectus or registration requirements or any substantial
      similar requirement of the Securities Laws of the jurisdiction of
      residence and will provide the Corporation and the Agents, on request,
      whether before or after the Closing Date, with evidence of such
      compliance.

	 	 	 
	 	(l) 	
      If you are, or any beneficial purchaser for whom you are
      contracting hereunder is, a resident, or otherwise subject to the
      Securities Laws, of a jurisdiction other than a jurisdiction in Canada or
      of the United States, you and any beneficial purchaser for whom you are
      contracting hereunder (i) have knowledge of or have been independently
      advised as to and will comply with the requirements of the Securities Laws
      of the jurisdiction of your residence or to which you are otherwise
      subject, or the jurisdiction of residence of any beneficial purchaser for
      whom you are contracting hereunder or to which such beneficial purchaser
      is otherwise subject, as the case may be, (ii) confirm that the
      requirements of the Securities Laws of the jurisdiction of your residence
      or to which you are otherwise subject, the jurisdiction of residence of
      any beneficial purchaser for whom you are contracting hereunder or to
      which such beneficial purchaser is otherwise subject, as the case may be,
      does not (A) require the Corporation to make any filings or seek any
      approvals of any kind whatsoever from any regulatory authority of any kind
      or nature whatsoever, (B) except as contemplated herein, require the
      Corporation to prepare and file a prospectus, registration statement or
      similar document or (C) impose any additional registration or other
      requirements on the Agents, and (iii) will provide such evidence of
      compliance with all such matters as the Corporation or the Agents may
      request.

	 	 	 
	 	(m) 	
      You are and any beneficial purchaser for whom you are
      contracting hereunder is capable of assessing the proposed investment in
      the Purchased Securities as a result of your financial or investment
      experience or as a result of advice received from a registered person
      other than the Corporation or an affiliate thereof and you are or any
      beneficial purchaser for whom you are contracting hereunder is, as the
      case may be, able to bear the economic loss of the investment in the
      Purchased Securities.

	 	 	 
	 	(n) 	
      You acknowledge that the financial statements of the
      Corporation have been prepared in accordance with generally accepted
      accounting principles of the United States, which differ in some respects
      from generally accepted accounting principles of Canada, and thus may not
      be comparable to financial statements of Canadian companies.

	 	 	 
	 	(o) 	
      You acknowledge that there may be material tax
      consequences to you of an acquisition, holding or disposition of the
      Special Warrants, the Underlying Securities or the Warrant Shares. The
      Corporation gives no opinion and makes no representation with respect to
      the tax consequences to you under United States, Canadian, state,
      provincial, local or foreign tax law of your acquisition, holding,
      disposition or exercise of such securities, and you acknowledge that you
      are solely responsible for determining the tax consequences of your
      investment.

	 	 	 
	 	(p) 	
      Unless you have made the representations set forth below
      in subsection 6.C hereof (United States) and have completed schedule C
      attached hereto:

10 

	 		(i) 	
      you are not a Person in the United States or a U.S.
      Person and you are not acquiring the Purchased Securities for the account
      or benefit of any Person in the United States or U.S. Person;

	 	 	 	 
	 		(ii) 	
      you were not offered the Offered Securities in the United
      States; and

	 	 	 	 
	 		(iii) 	
      at the time the buy order for the Purchased Securities
      was originated, you were outside the United States and this Agreement was
      not executed or delivered in the United States.

	 	 	 	 
	 	(q) 	
      If you are not a U.S. Subscriber:

	 	 	 	 
	 		(i) 	
      you acknowledge that the Offered Securities, the
      Underlying Securities and the Warrant Shares have not been registered
      under the 1933 Act and may not be offered or sold in the United States or
      to a U.S. Person unless such securities are sold (A) in accordance with
      the provisions of Regulation S, (B) pursuant to registration under the
      1933 Act and all applicable state securities laws, or (C) pursuant to an
      exemption from the registration requirements of the 1933 Act, and further
      agree that hedging transactions involving such securities may not be
      conducted unless in compliance with the 1933 Act;

	 	 	 	 
	 		(ii) 	
      you acknowledge and agree that the Underlying Securities
      and the Warrant Shares will, upon issuance, be “restricted securities”
      within the meaning of Rule 144(a)(3) of the 1933 Act and will remain as
      “restricted securities” notwithstanding any resale unless the sale is
      completed pursuant to an effective registration statement under the 1933
      Act;

	 	 	 	 
	 		(iii) 	
      you understand that the Corporation is the seller of the
      Offered Securities, the Underlying Securities and the Warrant Shares and
      that, for purposes of Regulation S, a "distributor" is any underwriter,
      dealer or other person who participates, pursuant to a contractual
      arrangement in the distribution of securities sold in reliance on
      Regulation S and that an "affiliate" is any partner, officer, director or
      any person directly or indirectly controlling, controlled by or under
      common control with any person in question; except as otherwise permitted
      by Regulation S, you agree that you will not, during a one-year
      distribution compliance period, act as a distributor, either directly or
      through any affiliate, or sell, transfer, hypothecate or otherwise convey
      the Offered Securities, the Underlying Securities or the Warrant Shares
      other than to or for the account or benefit of a non-U.S.
Person;

	 	 	 	 
	 		(iv) 	
      you acknowledge and understand that in the event the
      Offered Securities, the Underlying Securities or the Warrant Shares are
      offered, sold or otherwise transferred by you to or for the account or
      benefit of a non-U.S. Person, unless pursuant to an effective registration
      statement under the 1933 Act, prior to the expiration of a one-year
      distribution compliance period, the purchaser or transferee must agree not
      to resell such securities except in accordance with the provisions of
      Regulation S, pursuant to registration under the 1933 Act, or pursuant to
      an available exemption from registration; and must further agree not to
      engage in hedging transactions with regard to such securities unless in
      compliance with the 1933 Act; and

	 	 	 	 
	 		(v) 	
      you will not offer, sell or otherwise dispose of the
      Offered Securities, the Underlying Securities or the Warrant Shares in the
      United States or to a U.S. Person unless (A) the Corporation has consented
      to such offer, sale or disposition and such offer, sale or disposition is
      made in accordance with an exemption from the registration requirements
      under the 1933 Act and the securities laws of all applicable states of the
      United States, or (B) the SEC has

11 

declared effective a registration
statement in respect of such securities. In the case of (A), the Corporation may
require, as a condition of granting its consent, a legal opinion of a firm
reasonably acceptable to the Corporation confirming that the sale is not subject
to the registration requirement of the 1933 Act. 

	 	(r) 	
      If the Corporation obtains approval for the listing of
      the Common Shares on a Canadian stock exchange prior to the effectiveness
      of the Registration Statement, there can be no assurance that such
      securities will be tradable on such Canadian stock exchange, even on a
      restricted basis, as delivery of certificates representing such securities
      imprinted with a restrictive legend in compliance with United States
      Securities Laws may not constitute “good delivery” in settlement of
      transactions on a Canadian stock exchange. Further, no Canadian broker-
      dealer would be permitted, under the 1933 Act, to execute a transaction in
      those securities on a Canadian stock exchange if that member knows that
      the purchaser is in the United States or a U.S. Person or is acting for
      the account or benefit of a U.S. Person. In addition, the Canadian
      broker-dealer must make reasonable efforts to ascertain whether a
      purchaser is in the United States or is a U.S. Person or is acting for the
      account or benefit of a U.S. Person and implement measures designed to
      assure reasonable compliance with this requirement.

	 	 	 	 
	 	(s) 	
      You and any beneficial purchaser for whom you are
      contracting hereunder acknowledge that no agency, governmental authority,
      securities commission or similar regulatory body, stock exchange or other
      entity has reviewed, passed on or made any finding or determination as to
      the merit of the investment in the Offered Securities, the Subject Shares
      or the Warrants nor have any such agencies or governmental authorities
      made any recommendation or endorsement with respect to the Offered
      Securities, the Subject Shares or the Warrants.

	 	 	 	 
	 	(t) 	
      The Subscriber has not received or been provided with a
      prospectus, registration statement or offering memorandum, within the
      meaning of the Securities Laws, and the Subscriber’s decision to subscribe
      for the Special Warrants was not based upon, and the Subscriber has not
      relied upon, any verbal or written representations as to facts made by or
      on behalf of the Corporation or the Agents. The Subscriber has had access
      to and has reviewed, to the extent it deems necessary, the Public Record
      and the Subscriber’s decision to subscribe for the Special Warrants was
      based solely upon this Subscription Agreement, the Term Sheet attached
      hereto as Schedule "A" and the Public Record (any such information having
      been obtained by the Subscriber without independent investigation or
      verification by the Agents). The Subscriber is not relying upon the Agents
      to conduct any due diligence investigation on its behalf concerning the
      business, financial position, condition or prospects of the Corporation
      and agrees that the Agents assume no responsibility or liability of any
      nature whatsoever for the accuracy, adequacy or completeness of the Public
      Record or as to whether all information concerning the Corporation
      required to be disclosed by the Corporation has been publicly
    disclosed

	 	 	 	 
	 	(u) 	
      This Agreement has been duly executed and delivered by
      you and, when accepted by the Corporation, will constitute your legal,
      valid and binding obligation enforceable against you in accordance with
      the terms hereof or, if you are acting as agent for a beneficial
      purchaser, will constitute a legal, valid and binding obligation of such
      beneficial purchaser in accordance with the terms hereof.

	 	 	 	 
	 	(v) 	
      If you are contracting hereunder as trustee or agent
      (including, for greater certainty, a portfolio manager or comparable
      adviser) for one or more beneficial purchasers, you are authorized to
      execute and deliver this Agreement and all other necessary documentation
      in connection with the subscription made on behalf of such beneficial
      purchaser or beneficial purchasers and this Agreement has been authorized,
      executed and delivered on behalf of such beneficial purchaser or
      beneficial purchasers, and you acknowledge that either or both the
      Corporation and the Agents may be required by law to disclose the identity
      of each beneficial purchaser for whom you are contracting
  hereunder.

12 

	 	(w) 	
      The execution and delivery of this Agreement, the
      performance and compliance with the terms hereof, the purchase of the
      Purchased Securities and the completion of the transactions described
      herein by you will not result in any material breach of, or be in conflict
      with or constitute a material default under, or create a state of facts
      which, after notice or lapse of time, or both, would, if you are not or
      any beneficial purchaser for whom you are contracting hereunder is not an
      individual, constitute a material default under any term or provision of
      your constating documents, by-laws or resolutions or the constating
      documents, by-laws or resolutions of any beneficial purchaser for whom you
      are contracting hereunder, as the case may be, the Securities Laws or any
      other laws applicable to you or any beneficial purchaser for whom you are
      contracting hereunder, any agreement to which you are or any beneficial
      purchaser for whom you are contracting hereunder is a party, or any
      judgment, decree, order, statute, rule or regulation applicable to you or
      any beneficial purchaser for whom you are contracting hereunder.

	 	 	 	 
	 	(x) 	
      You represent and warrant to the Corporation that the
      funds representing the Purchase Price in respect of the Purchased
      Securities which will be advanced by you to the Corporation hereunder will
      not represent proceeds of crime for the purposes of the Proceeds of
      Crime (Money Laundering) and Terrorist Financing Act (Canada) (the
      “PCMLTFA”) and you acknowledge that the Corporation may in the future be
      required by law to disclose your name and other information relating to
      this Subscription Agreement and the Subscriber’s subscription hereunder,
      on a confidential basis, pursuant to the PCMLTFA. To the best of your
      knowledge (a) none of the subscription funds provided by you (i) have been
      or will be derived from or related to any activity that is deemed criminal
      under the law of Canada, the 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 you, and (b) you will promptly notify the
      Corporation if you discover that any of such representations cease to be
      true, and to provide the Corporation with appropriate information in
      connection therewith.

	 	 	 	 
	 	(y) 	
      If you are, or the beneficial purchaser for whom you are
      contracting hereunder is, a resident of the Province of Ontario, you
      authorize the indirect collection of personal information (as defined in
      the Securities Laws of the Province of Ontario) by the Ontario Securities
      Commission and confirm that you have been notified by the
    Corporation:

	 	 	 	 
	 		(i) 	
      that the Corporation will be delivering such personal
      information to the Ontario Securities Commission;

	 	 	 	 
	 		(ii) 	
      that such personal information is being collected
      indirectly by the Ontario Securities Commission under the authority
      granted to it in the Securities Laws of the Province of Ontario;

	 	 	 	 
	 		(iii) 	
      that such personal information is being collected for the
      purpose of the administration and enforcement of the Securities Laws of
      the Province of Ontario; and

	 	 	 	 
	 		(iv) 	
      that the title, business address and business telephone
      number of the public official in the Province of Ontario who can answer
      questions about the Ontario Securities Commission's indirect collection of
      personal information is as follows:

Administrative Assistant to the
Director of Corporate Finance 
Ontario Securities Commission 
Suite 1903,
Box 55, 20 Queen Street West 
Toronto, Ontario M5H 3S8 
Telephone:
416-593-8086 

	 	(z) 	
      You, on your own behalf and, if applicable, on behalf of
      each beneficial purchaser for whom you are contracting hereunder,
      acknowledge and consent to the fact that the Corporation and the Agents
      are collecting your personal information (as that term is defined under
      applicable

13 

privacy legislation, including,
without limitation, the Personal Information Protection and Electronic
Documents Act (Canada) and any other applicable similar, replacement or
supplemental provincial or federal legislation or laws in effect from time to
time), or that of each beneficial purchaser for whom you are contracting
hereunder, for the purpose of completing this Agreement. You, on your own behalf
and, if applicable, on behalf of each beneficial purchaser for whom you are
contracting hereunder, acknowledge and consent to the Corporation and the Agents
retaining such personal information for as long as permitted or required by law
or business practices. You, on your own behalf and, if applicable, on behalf of
each beneficial purchaser for whom you are contracting hereunder, further
acknowledge and consent to the fact that the Corporation or the Agents may be
required by the Securities Laws, the rules and policies of any stock exchange or
the rules of the Investment Dealers Association of Canada to provide regulatory
authorities with any personal information provided by you in this Agreement. You
represent and warrant that you have the authority to provide the consents and
acknowledgements set out in this paragraph on behalf of each beneficial
purchaser for whom you are contracting hereunder. In addition to the foregoing,
you agree and acknowledge that the Corporation or the Agents, as the case may
be, may use and disclose your personal information, or that of each beneficial
purchaser for whom you are contracting hereunder, as follows: 

	 	(i) 	
      for internal use with respect to managing the
      relationships between and contractual obligations of the Corporation, the
      Agents and you or any beneficial purchaser for whom you are contracting
      hereunder;

	 	 	 
	 	(ii) 	
      for use and disclosure for income tax related purposes,
      including without limitation, where required by law, disclosure to Canada
      Revenue Agency;

	 	 	 
	 	(iii) 	
      disclosure to stock exchanges, securities regulatory
      authorities and other regulatory bodies with jurisdiction with respect to
      listing applications, prospectus filings, reports of trade and similar
      regulatory filings;

	 	 	 
	 	(iv) 	
      disclosure to a governmental or other authority to which
      the disclosure is required by court order or subpoena compelling such
      disclosure and where there is no reasonable alternative to such
      disclosure;

	 	 	 
	 	(v) 	
      disclosure to professional advisers of the Corporation or
      the Agents in connection with the performance of their professional
      services;

	 	 	 
	 	(vi) 	
      disclosure to any person where such disclosure is
      necessary for legitimate business reasons and is made with your prior
      written consent;

	 	 	 
	 	(vii) 	
      by including it in closing books relating to the offering
      contemplated hereby;

	 	 	 
	 	(viii) 	
      disclosure to a court determining the rights of the
      parties under this Agreement; or

	 	 	 
	 	(ix) 	
      for use and disclosure as otherwise required or permitted
      by law.

The contact information for the
officer of the Corporation who can answer questions about the collection of
information by the Corporation is as follows: 

	 	Name and Title: 	John Perry, 
	 	  	President and Chief Executive Officer 
	 	Issuer Name: 	Nord Resources Corporation 
	 	Address: 	Suite 203, 1 Wetmore Road 
	 	  	Tucson, Arizona 85705 
	 	Phone No.: 	(520) 292-0266 
	 	Fax No.: 	(520) 292-0268 
	 	e-mail: 	jperry@nordresources.com 

14 

	 	(aa) 	
      The Subscriber agrees that the representations,
      warranties and covenants of the Subscriber herein will be true and correct
      both as of the execution of this Subscription Agreement and as of the time
      of Closing and will survive the completion of the issue of the Special
      Warrants. The representations, warranties and covenants of the Subscriber
      herein are made with the intent that they be relied upon by the
      Corporation and the Agents and their respective counsel in determining the
      eligibility of a Subscriber for Special Warrants and the Subscriber agrees
      to indemnify and hold harmless the Corporation and the Agents and their
      respective affiliates, shareholders, directors, officers, partners,
      employees, advisors and agents, from and against all losses, claims,
      costs, expenses and damages or liabilities whatsoever which any of them
      may suffer or incur which are caused or arise from a breach thereof. The
      Subscriber undertakes to immediately notify the Corporation at Nord
      Resources Corporation, Suite 203, 1 Wetmore Road, Tucson, Arizona 85705,
      Attention: John Perry (Fax Number: (520) 292- 0268) and the Agents c/o
      Blackmont Capital Inc., BCE Place, P.O. Box 779, Suite 2800, 181 Bay
      Street, Toronto, Ontario, M5J 2T3, Attention: Chad Williams (Fax Number:
      416-864- 9024), of any change in any statement or other information
      relating to the Subscriber set forth herein which takes place prior to the
      time of the Closing.

	B. 	
      Canadian Subscribers and Residents of a Foreign
      Jurisdiction other than the United States: If you are resident in, or
      are otherwise subject to the Securities Laws of a province of Canada, then
      you are an Accredited Investor and:

	 	 	 	 
		(a) 	
      you are either purchasing the Purchased
  Securities:

	 	 	 	 
			(i) 	
      as principal and not for the benefit of any other Person,
      or you are deemed under NI 45-106 to be purchasing the Purchased
      Securities as principal and you are an “accredited investor” within the
      meaning of NI 45-106; or

	 	 	 	 
			(ii) 	
      as agent for a beneficial purchaser disclosed on the
      Execution Page of this Agreement, and you are an agent or trustee with
      proper authority to execute all documents required in connection with the
      purchase of the Purchased Securities on behalf of such disclosed
      beneficial purchaser and such disclosed beneficial purchaser for whom you
      are contracting hereunder is purchasing as principal and not for the
      benefit of any other Person, or is deemed under NI 45-106 to be purchasing
      the Purchased Securities as principal and such disclosed beneficial
      purchaser is an “accredited investor” within the meaning of NI
    45-106;

	 	 	 	 
		(b) 	
      if you are, or the beneficial purchaser for whom you are
      contracting hereunder is, as the case may be, a Person, other than an
      individual or investment fund, that has net assets of at least $5,000,000,
      you were not, or the beneficial purchaser for whom you are contracting
      hereunder was not, as the case may be, created or used solely to purchase
      or hold securities as an accredited investor; and

	 	 	 	 
		(c) 	
      you have concurrently executed and delivered a
      certificate in the form attached as schedule B hereto and has completed
      Appendix A thereto.

	C. 	
      United States: If you are a U.S. Subscriber,
      then:

	 	 	 
		(a) 	
      You understand and acknowledge that the Special Warrants,
      the Underlying Securities and the Warrant Shares have not been registered
      under the 1933 Act or any state securities laws and that the sale
      contemplated hereby is being made to a limited number of U.S. Accredited
      Investors in transactions not requiring registration under the 1933 Act;
      accordingly the Special Warrants are , and the Underlying Securities and
      Warrant Shares, upon issuance.will be, “restricted securities” within the
      meaning Rule 144(a)(3) of the 1933 Act.

	 	 	 
		(b) 	
      You have had access to such information, if any,
      concerning the Corporation as you considered necessary in connection with
      your investment decision to invest in the
Special

15 

	 		
      Warrants and Underlying Securities, including receiving
      satisfactory answers to any questions you have asked any of the officers
      of the Corporation.

	 	 	 
	 	(c) 	
      You have no contract, undertaking, agreement or
      arrangement with any Person to sell, transfer or pledge to such Person, or
      anyone else, the Special Warrants or the Underlying Securities, or any
      part thereof, or any interest therein, and you have no present plans to
      enter into any such contract, undertaking, agreement or
  arrangement.

	 	 	 
	 	(d) 	
      You consent to the Corporation making a notation on its
      records or giving instructions to any transfer agent of the Corporation in
      order to implement the restrictions on transfer set forth
herein.

	 	 	 
	 	(e) 	
      You acknowledge that the Corporation has not filed a
      registration statement under the 1933 Act in respect of the Special
      Warrants, Underlying Securities or Warrant Shares and, accordingly, you
      acknowledge that there are substantial restrictions on the transferability
      of, and that it may not be possible to liquidate your investment readily
      in, the Special Warrants, Underlying Securities or Warrant Shares, and you
      have not been supplied with any of the information that would be found in
      a registration statement if the Special Warrants, Underlying Securities or
      Warrant Shares were registered under the 1933 Act.

	 	 	 
	 	(f) 	
      You acknowledge that the Corporation has not yet filed a
      registration statement under the 1933 Act in respect of the Registerable
      Securities, and you have not been supplied with any of the information
      that would be found in a registration statement if the Registerable
      Securities were registered under the 1933 Act and, if the Registration
      Statement does not become effective, you acknowledge that there will be
      substantial restrictions on the transferability of, and that it may not be
      possible to liquidate your investment readily in, the Registerable
      Securities.

	 	 	 
	 	(g) 	
      You are a U.S. Accredited Investor and acknowledge that
      you are acquiring the Special Warrants as an investment for your own
      account or for the account of a U.S. Accredited Investor as to which you
      exercise sole investment discretion and not with a view to any resale,
      distribution or other disposition of the Special Warrants, the Underlying
      Securities or the Warrant Shares in violation of the federal or state
      securities laws of the United States and you have concurrently executed
      and delivered a certificate in the form attached as schedule C
    hereto.

	 	 	 
	 	(h) 	
      You understand and agree that there may be material tax
      consequences to you of an acquisition, holding or disposition of the
      Special Warrants, the Underlying Securities or the Warrant Shares. The
      Corporation gives no opinion and makes no representation with respect to
      the tax consequences to you under United States, state, local or foreign
      tax law of your acquisition, holding, disposition or exercise of such
      securities, and you acknowledge that you are solely responsible for
      determining the tax consequences of your investment.

	 	 	 
	 	(i) 	
      The Subscriber understands that the Special Warrants and
      the Warrants may not be sold or transferred in the United States or by or
      on behalf of a U.S. Person unless an exemption is available from the
      registration requirements of the 1933 Act and applicable state securities
      laws;

	 	 	 
	 	(j) 	
      The Subscriber understands that if it decides to offer,
      sell, pledge or otherwise transfer the Special Warrants and the Warrants
      and, prior to the Registration Statement becoming effective, the Special
      Warrant Shares and the Warrant Shares, such securities may be offered,
      sold or otherwise transferred only: (A) to the Corporation; (B) in
      compliance with Rule 904 under Regulation S, (C) in accordance with Rule
      144 under the 1933 Act, if available, and in compliance with applicable
      local laws and regulations, or (D) in a transaction that does not
      otherwise require registration under the 1933 Act or any applicable state
      securities laws if an opinion of counsel, of recognized standing
      reasonably satisfactory to the Corporation, has been provided to the
      Corporation to that effect; and

16 

	 	(k) 	
      You have not purchased the Special Warrants as a result
      of any form of general solicitation or general advertising (as those terms
      are used in Regulation D), including advertisements, articles, notices or
      other communications published in any newspaper, magazine or similar media
      or broadcast over radio, or television, or any seminar or meeting whose
      attendees have been invited by general solicitation or general
      advertising.

	7. 	Legends 

You acknowledge that, in addition to the other legends that may
be required by this Agreement, the certificates representing the Purchased
Securities and, if the distribution of the Special Warrant Shares, the Warrants
and the Warrant Shares is not qualified by the Final Prospectus, the certificate
representing the Special Warrant Shares, the Warrants and, if applicable, the
Warrant Shares, will bear the following legend:

	 	
      “UNLESS PERMITTED UNDER SECURITIES LEGISLATION, THE
      HOLDER OF THIS SECURITY MUST NOT TRADE THE SECURITY BEFORE THE DATE THAT
      FOUR MONTHS AND ONE DAY AFTER THE LATER OF (I) [the Closing
      Date will be inserted], AND (II) THE DATE THE ISSUER BECAME A
      REPORTING ISSUER IN ANY PROVINCE OR TERRITORY.” 
	 

provided that subsequent to the date that is four months and
one day after the later of (i) the Closing Date, and (ii) the date the
Corporation becomes a reporting issuer in any province or territory (unless the
Corporation becomes a reporting issuer by filing a prospectus in the Province of
British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec or Nova
Scotia, in which case the requirement relating to reporting issuer status set
out in this item (ii) will not apply), the certificate representing the
Purchased Securities or, if applicable, the certificates representing the
Special Warrant Shares, the Warrants or the Warrant Shares, may be exchanged for
a certificate not bearing this legend. 

The certificates representing the Special Warrant Shares, the
Warrants and the Warrant Shares will bear a legend substantially in the
following form: 

	 	
      “THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN
      REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE
      "1933 ACT") OR APPLICABLE STATE SECURITIES LAWS. THESE SECURITIES MAY NOT
      BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED UNLESS THERE IS AN
      EFFECTIVE REGISTRATION STATEMENT UNDER THE 1933 ACT AND SUCH LAWS COVERING
      SUCH SECURITIES, OR THE COMPANY RECEIVES AN OPINION OF COUNSEL ACCEPTABLE
      TO THE COMPANY STATING THAT SUCH OFFER, SALE, PLEDGE OR OTHER TRANSFER IS
      EXEMPT FROM THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS OF THE
      1933 ACT AND SUCH LAWS. THE SECURITIES REPRESENTED BY THE CERTIFICATE
      CANNOT BE THE SUBJECT OF HEDGING TRANSACTIONS UNLESS SUCH TRANSACTIONS ARE
      CONDUCTED IN COMPLIANCE WITH THE 1933 ACT.” 
	 

In addition, Warrants shall bear a legend substantially in the
following form: 

	 	
      “THIS WARRANT [AND IF THE REGISTRATION STATEMENT HAS NOT
      BECOME EFFECTIVE AT THE TIME OF ISSUANCE OF THE WARRANTS, ADD THE
      FOLLOWING: AND THE SECURITIES ISSUABLE UPON EXERCISE HEREOF] HAVE NOT BEEN
      REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE
      “1933 ACT”), OR THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES.
      THIS WARRANT MAY NOT BE EXERCISED BY OR ON BEHALF OF A U.S. PERSON OR
      PERSON IN THE UNITED STATES UNLESS THIS WARRANT AND SECURITIES ISSUABLE
      UPON EXERCISE OF THIS WARRANT HAVE BEEN REGISTERED UNDER THE 1933 ACT AND
      THE APPLICABLE 
	 

17 

	 	
      SECURITIES LEGISLATION OF ANY SUCH STATE OR AN EXEMPTION
      FROM SUCH REGISTRATION REQUIREMENTS IS AVAILABLE. “UNITED STATES” AND
      “U.S. PERSON” ARE AS DEFINED BY REGULATION S UNDER THE 1933 ACT.” 
	 

	8. 	Representations and Warranties of the
      Corporation 

The Corporation hereby agrees with the Subscriber that the
representations and warranties made by the Corporation to the Agents in the
Agency Agreement shall be true and correct in all material respects as of the
Closing Date (save and except as waived by the Agents). The Subscriber shall be
entitled to rely on the representations, warranties and covenants made by the
Corporation to the Agents in the Agency Agreement to the extent that they have
not been varied, amended, altered or waived, in whole or in part, by the Agents
and shall survive the Closing and shall continue in full force and effect for
the benefit of the Subscriber in accordance with the terms of the Agency
Agreement. The representations, warranties and covenants made by the Corporation
to the Agents in the Agency Agreement are hereby incorporated by reference such
that they form an integral part of this Agreement. 

	9. 	Covenants of the Corporation
  

The Corporation hereby covenants and agrees with the Subscriber
as follows: 

	 	(a) 	
      Prospectus: The Corporation covenants and agrees
      to use its commercially reasonable best efforts to: (i) file the
      Preliminary Prospectus qualifying the issuance and distribution of the
      Special Warrant Shares, the Warrants and the Warrant Shares in each of the
      Qualifying Jurisdictions; (ii) file the Registration Statement registering
      the Registerable Securities (iii) resolve all comments received or
      deficiencies raised by the various securities regulatory authorities in
      the Qualifying Jurisdictions and by the SEC, as applicable, expeditiously;
      (iv) file and obtain a final receipt for the Final Prospectus in each
      Qualifying Jurisdiction qualifying the issuance and distribution of the
      Special Warrant Shares, the Warrants and the Warrant Shares as soon as
      practicable, acting reasonably, after such regulatory comments and
      deficiencies have been resolved, and in no event later than the
      Qualification Deadline; and (v) file and cause to be declared effective
      the Registration Statement registering the Registerable Securities as soon
      as practicable, acting reasonably, after such regulatory comments and
      deficiencies have been resolved, and in no event later than the
      Qualification Deadline.

	 	 	 
	 	(b) 	
      Corporate Status: For a period of a least 18
      months after the Closing Date, the Corporation shall remain a corporation
      validly subsisting under the laws of its jurisdiction of incorporation,
      licensed, registered or qualified as an extra-provincial or foreign
      corporation in all jurisdictions where the character of its properties
      owned or leased or the nature of the activities conducted by it make such
      licensing, registration or qualification necessary and shall carry on its
      business in the ordinary course and in compliance in all material respects
      with all applicable laws, rules and regulations of each such
      jurisdiction.

	 	 	 
	 	(c) 	
      Securities Filings: Forthwith after the Closing
      the Corporation shall file such forms and documents as may be required
      under the Securities Laws of the provinces of Canada and the United States
      and any state thereof relating to the offering of the Purchased Securities
      which, without limiting the generality of the foregoing, shall include (i)
      a Form 45-106-F1 as prescribed by NI 45-106, and (ii) a Form D as
      prescribed under the 1933 Act and any filings required under applicable
      state laws.

	 	 	 
	 	(d) 	
      Performance of Acts: The Corporation shall perform
      and carry out all of the acts and things to be completed by it as provided
      in this Agreement.

	 	 	 
	 	(e) 	
      Use of Proceeds Amount: The Corporation shall
      apply the proceeds of the Offered Securities for repayment of debt
      (including related party debt of approximately $2,950,000), general
      corporate purposes, and, together with proceeds from an expected project
      financing loan, to develop the Corporation’s Johnson Camp SX-EW copper
      project.

18 

	10. 	
      Fee to Agents

	 	 	 
		(a) 	
      Fee: You acknowledge that the Agents are offering
      the Offered Securities on a private placement basis and, in connection
      therewith, the Corporation and the Agents (other than the Placement Agent)
      will, as of the Closing Date, have entered into the Agency Agreement
      pursuant to which the Agents (other than the Placement Agent) will receive
      a cash fee and compensation options. No other fee or commission is payable
      by the Corporation in connection with the sale of the Offered
      Securities.

	 	 	 
		(b) 	
      Acknowledgement: The Subscriber acknowledges that
      the Agents have been appointed by the Corporation to act as agent of the
      Corporation to offer the Offered Securities on a private placement basis
      and acknowledges that the Agents assume no responsibility or liability of
      any nature whatsoever for the accuracy or adequacy of the information
      regarding the Corporation, that the Agents have not engaged in or
      conducted an independent investigation with respect to the Corporation and
      that the Agents and the representatives and agents thereof are not liable
      for any information given or statement made to the Subscriber by the
      Corporation in connection with the Corporation or the transaction
      contemplated by this Agreement and the Subscriber hereby releases the
      Agents and the representatives and agents thereof from any claim that may
      arise in respect of this Agreement or the transaction contemplated
      hereby.

	 	 	 
	11. 	
      Contractual Right of Action for
      Rescission

	 	 	 
		(a) 	
      If a holder of Offered Securities who acquires Underlying
      Securities pursuant to the Final Prospectus is or becomes entitled under
      the Securities Act (Ontario) or the Securities Laws of the
      jurisdiction of residence of the holder thereof to the remedy of
      rescission by reason of the Final Prospectus or any amendment thereto
      containing a misrepresentation (as such term is defined in subsection 1(1)
      of the Securities Act (Ontario) or other applicable Securities
      Laws), such holder shall be entitled to rescission not only of the
      issuance of Underlying Securities pursuant to the Special Warrants but
      also of the private placement transaction pursuant to which the Special
      Warrants were initially acquired by such holder, and shall be entitled in
      connection with such rescission to a full refund from the Corporation of
      all consideration paid for the acquisition of the Special Warrants. If
      such holder is a permitted assignee of the interest of the original
      Subscriber for Offered Securities, such permitted assignee shall be
      entitled to exercise the rights of rescission and refund granted hereunder
      as if such permitted assignee was such original Subscriber. The foregoing
      is in addition to any other right or remedy available to a holder of
      Offered Securities under section 130 of the Securities Act
      (Ontario), or the equivalent provision of any other applicable
      Securities Laws or otherwise at law, but is subject to subsections 11(b)
      and 11(c) below.

	 	 	 
		(b) 	
      The foregoing contractual right of action for rescission
      shall be subject to the defences, limitations and other circumstances
      described in section 130 of the Securities Act (Ontario) and the
      equivalent provision of any other applicable Securities Laws, each of
      which is incorporated herein by reference, mutatis
  mutandis.

	 	 	 
		(c) 	
      No action shall be commenced to enforce the foregoing
      right of action for rescission more than 180 days after the date of the
      original issuance of the Special Warrants.

	 	 	 
		(d) 	
      The Subscriber expressly waives and releases the
      Corporation and the Agents from all rights of withdrawal to which the
      Subscriber might otherwise be entitled pursuant to subsection 71(2) of the
      Securities Act (Ontario) or the equivalent provision of the
      Securities Laws of the jurisdiction of residence of the
  Subscriber.

	 	 	 
	12. 	
      Expenses

	 	 	 
		(a) 	
      You acknowledge and agree that all costs incurred by you
      (including any fees and disbursements and any special counsel retained by
      you) relating to the issue and sale of the

19 

Special Warrants and the issuance of
the Underlying Securities and, if applicable, the Warrant Shares to you shall be
borne by you.

	13. 	
      General

	 	 	 
		(a) 	
      Headings: The division of this Agreement into
      articles and sections and the insertion of headings are for convenience of
      reference only and shall not affect the construction or interpretation of
      this Agreement. The terms “this Agreement”, “this Subscription Agreement”,
      “hereof”, “hereunder”, “herein” and similar expressions refer to this
      Agreement and not to any particular article, section or other portion
      hereof and include any agreement supplemental thereto and any exhibits
      attached hereto. Unless something in the subject matter or context is
      inconsistent therewith, reference herein to articles, sections and
      paragraphs are to articles, sections, subsections and paragraphs of this
      Agreement.

	 	 	 
		(b) 	
      Number and Gender: Words importing the singular
      number only shall include the plural and vice versa, words
      importing the masculine gender shall include the feminine gender and
      neuter and vice versa.

	 	 	 
		(c) 	
      Severability: If one or more of the provisions
      contained in this Agreement shall be invalid, illegal or unenforceable in
      any respect under any applicable law, the validity, legality or
      enforceability of the remaining provisions hereof shall not be affected or
      impaired thereby. Each of the provisions of this Agreement is hereby
      declared to be separate and distinct.

	 	 	 
		(d) 	
      Notices: All notices or other communications to be
      given hereunder shall be delivered by hand or by telecopier, and if
      delivered by hand, shall be deemed to have been given on the date of
      delivery or, if sent by telecopier, on the date of transmission if sent
      before 5:00 p.m. and such day is a Business Day or, if not, on the first
      Business Day following the date of transmission.

	 	 	 
		(e) 	
      Notices to the Corporation shall be addressed
  to:

	 	Nord Resources Corporation 
	 	Suite 203, 1 West Wetmore Road 
	 	Tucson, Arizona 85705 
	 	U.S.A. 
	 	 
	 	Attention: John Perry, President and Chief Executive Officer
    
	 	Telecopier: (520) 292-0268 

	 		
      Notices to the Subscriber shall be addressed to the
      address of the Subscriber set out on the Execution Page hereof.

	 	 	 
	 		
      Either the Corporation or the Subscriber may change the
      address for service thereof aforesaid by notice in writing to the other
      party hereto specifying the new address for service hereunder.

	 	 	 
	 	(f) 	
      Further Assurances: Each party hereto shall from
      time to time at the request of the other party hereto do such further acts
      and execute and deliver such further instruments, deeds and documents as
      shall be reasonably required in order to fully perform and carry out the
      provisions of this Agreement. The parties hereto agree to act honestly and
      in good faith in the performance of their respective obligations
      hereunder.

	 	 	 
	 	(g) 	
      Successors and Assigns: Except as otherwise
      provided, this Agreement shall enure to the benefit of and shall be
      binding upon the parties hereto and their respective successors and
      permitted assigns.

	 	 	 
	 	(h) 	
      Entire Agreement: The terms of this Agreement
      express and constitute the entire agreement between the parties hereto
      with respect to the subject matter hereof and no implied term or liability
      of any kind is created or shall arise by reason of anything in this
      Agreement.

20 

	 	(i) 	
      Time of Essence: Time is of the essence of this
      Agreement.

	 	 	 
	 	(j) 	
      Amendments: The provisions of this Agreement may
      only be amended with the written consent of all of the parties
    hereto.

	 	 	 
	 	(k) 	
      Survival: Notwithstanding any other provision of
      this Agreement, the representations, warranties, covenants and indemnities
      of or by the Subscriber or the Corporation contained herein or in any
      certificate, document or instrument delivered pursuant hereto shall
      survive the completion of the transactions contemplated by this
      Agreement.

	 	 	 
	 	(l) 	
      Governing Law: This Agreement shall be governed by
      and construed in accordance with the laws of the Province of British
      Columbia and the laws of Canada applicable therein and the parties hereto
      irrevocably attorn to the jurisdiction of the courts of the Province of
      British Columbia.

	 	 	 
	 	(m) 	
      Counterparts: This Agreement may be executed in
      two or more counterparts which when taken together shall constitute one
      and the same agreement. Delivery of counterparts may be effected by
      facsimile transmission thereof.

	 	 	 
	 	(n) 	
      Facsimile Copies: The Corporation and the Agents
      shall be entitled to rely on a facsimile copy of an executed subscription
      agreement and acceptance by the Corporation of such facsimile subscription
      shall be legally effective to create a valid and binding agreement between
      the Subscriber and the Corporation in accordance with the terms
      thereof.

If the foregoing is in accordance with your understanding,
please sign and return this Agreement together with the other required documents
signifying your agreement to purchase the Purchased Securities. You hereby
authorize the Agent through which you subscribed for the Purchased Securities to
deliver a copy of this Agreement on your behalf to the Corporation. 

	Schedule A 
	TERM SHEET 
	NORD RESOURCES CORPORATION 
	PRIVATE PLACEMENT OF SPECIAL WARRANTS 
	  
	  
	[NTD: Final term sheet to be dropped in]
  

Schedule B 

CERTIFICATE FOR CANADIAN SUBSCRIBERS 

	TO: 	NORD RESOURCES CORPORATION 
	AND TO: 	BLACKMONT CAPITAL INC. 
	AND TO: 	SALMON PARTNERS INC. 

In connection with the purchase of special warrants (the
“Purchased Securities”) of Nord Resources Corporation (the “Corporation”), the
undersigned hereby represents, warrants and certifies that: 

	(a) 	
      the Subscriber (the undersigned or, if the undersigned is
      purchasing the Purchased Securities as agent on behalf of a disclosed
      beneficial purchaser, such beneficial purchaser being referred to herein
      as the “Subscriber”) is resident in a province of Canada or a jurisdiction
      other than the United States or is subject to the securities laws of a
      province of Canada;

	 	 
	(b) 	
      the Subscriber is purchasing the Purchased Securities as
      principal or is deemed under National Instrument 45-106 - Prospectus
      and Registration Exemptions of the Canadian Securities Administrators
      (“NI 45- 106”) to be purchasing the Purchased Securities as principal;
      and

	 	 
	(c) 	
      the Subscriber is an “accredited investor” within the
      meaning of NI 45-106, by virtue of satisfying the indicated criterion as
      set out in appendix “A” to this certificate (YOU MUST ALSO INITIAL OR
      PLACE A CHECK-MARK ON THE APPROPRIATE LINE IN APPENDIX A ATTACHED TO THIS
      CERTIFICATE);

The above representations and warranties will be true and
correct both as of the execution of this certificate and as of the closing time
of the purchase and sale of the Purchased Securities and acknowledges that they
will survive the completion of the issue of the Purchased Securities. 

The undersigned acknowledges that the foregoing representations
and warranties are made by the undersigned with the intent that they be relied
upon in determining the suitability of the Subscriber as a purchaser of the
Purchased Securities and that this certificate is incorporated into and forms
part of the Subscription Agreement and the undersigned undertakes to immediately
notify the Corporation of any change in any statement or other information
relating to the Subscriber set forth herein which takes place prior to the
closing time of the purchase and sale of the Purchased Securities. 

Dated: ________________________, 2007. 

	 	Print name of Subscriber (or person signing as agent) 
	 	By: 	 
	 	          	Signature
	 	 	 
	 	  	 Title
	 	 	 
	 	          	 (please print name of
      individual whose signature
	 	         	 appears above, if different
      from name of Subscriber or 
	 	         	 agent printed above)
  

Appendix A to Schedule B 

NOTE: THE SUBSCRIBER MUST INITIAL BESIDE THE APPLICABLE
PORTION OF THE DEFINITION BELOW. 

Accredited Investor - (defined in NI 45-106) means: 

	_____ 	(a) 	
      a Canadian financial institution or an authorized
      foreign bank named in Schedule III of the Bank Act (Canada),
  

	 	  	
	 _____	(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
      paragraph (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 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
      Quebec, 

	 	  	
	 _____	(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 with a spouse,
      beneficially owns, directly or indirectly, financial assets
      having an aggregate realizable value that before taxes, but net
      of any related liabilities, exceeds $1,000,000,

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

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

	 	 	
       

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

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

	 	 	
       

	 	  	
      (i) 
	
      a person that is or was an accredited investor at the
      time of the distribution, 

	 	 	
       
	
       

	 	  	
      (ii) 
	
      a person that acquires or acquired securities in the
      circumstances referred to in sections 2.10 [Minimum amount investment]
      and 2.19 [Additional investment in investment funds]
      of NI 45-106, or 

	 	  	  	

2 

	 	  	
      (iii) 
	
      a person described in paragraph (i) or (ii) immediately
      above that acquires or acquired securities under section 2.18
      [Investment fund reinvestment] of NI 45-106, 

	 	  	
       
	
	 _____	(o) 	
      an investment fund that distributes or has distributed
      securities under a prospectus in a jurisdiction of Canada for which the
      regulator or, in Quebec, the securities regulatory authority, 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

	 	  	
       
	
       

	 	  	
      (i) 
	
      is registered or authorized to carry on business as an
      adviser or the equivalent under the securities legislation of a
      jurisdiction of Canada or a foreign jurisdiction, and 

	 	  	
       
	
	 	  	
      (ii) 
	
      in Ontario, is purchasing a security that is not a
      security of an investment fund, 

	 	 	
       
	
       

	 _____	(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) or
      paragraph (i) in form and function, 

	 	  	
	 _____	(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 Quebec, the
      regulator as: 

	 	  	
	 	  	
      (i) 
	
      an accredited investor, or 

	 	 	
       
	
       

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

For the purposes hereof: 

	(a) 	
      “Canadian financial institution”
    means

	 	 	 
		(i) 	
      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 the

	 	 	 
			
      Cooperative Credit Associations Act (Canada),
      or

	 	 	 
		(ii) 	
      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;

	 	 	 
	(b) 	
      “control person” has the meaning ascribed
      to that term in securities legislation except in Manitoba, Ontario,
      Quebec, Nova Scotia, Newfoundland and Labrador, Prince Edward Island, the
      Northwest Territories and Nunavut where “control person” means any person
      that holds or is one of a combination of persons that
  hold

3 

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

	 	 	 	 
		(ii) 	
      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 that
issuer;

	 	 	 	 
	(c) 	
      “eligibility adviser” means

	 	 	 	 
		(i) 	
      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 Subscriber and authorized to give advice with
      respect to the type of security being distributed, and

	 	 	 	 
		(ii) 	
      in Saskatchewan or Manitoba, also means a lawyer who is a
      practising 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:

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

	 	 	 	 
			(B) 	
      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;

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

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

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

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

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

	 	 	 	 
	(e) 	
      “financial assets” means (i) cash, (ii)
      securities or (iii) a contract of insurance, a deposit or an evidence of a
      deposit that is not a security for the purposes of securities
      legislation;

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

	 	 	 	 
		(i) 	
      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

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

	 	 	 	 
	(g) 	
      “fully managed account” means an account of
      a client 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;

	 	 	 	 
	(h) 	
      “investment fund” has the meaning ascribed
      thereto in National Instrument 81-106 - Investment Fund Continuous
      Disclosure;

	 	 	 	 
	(i) 	
      “person” includes

	 	 	 	 
		(i) 	
      an individual,

	 	 	 	 
		(ii) 	
      a corporation,

4 

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

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

	 	 	 
	(j) 	
      “related liabilities” means

	 	 	 
		(i) 	
      liabilities incurred or assumed for the purpose of
      financing the acquisition or ownership of financial assets, or

	 	 	 
		(ii) 	
      liabilities that are secured by financial
  assets.

	 	 	 
	(k) 	
      “spouse” means, an individual
who,

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

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

	 	 	 
		(iii) 	
      in Alberta, is an individual referred to in paragraph (i)
      or (ii) immediately above or is an adult interdependent partner within the
      meaning of the Adult Interdependent Relationships Act (Alberta);
      and

	 	 	 
	(l) 	
      “subsidiary” means an issuer that is
      controlled directly or indirectly by another issuer and includes a
      subsidiary of that subsidiary;

Affiliated Entities and Control 

	1. 	
      An issuer is considered to be an affiliate of another
      issuer if one of them is the subsidiary of the other, or if each of them
      is controlled by the same person.

	 	 	 
	2. 	
      A person (first person) is considered to control another
      person (second person) if

	 	 	 
		(a) 	
      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 the
      first person holds the voting securities only to secure an
    obligation,

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

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

	 	 	 
	All monetary references are in Canadian
    Dollars

Schedule C 

CERTIFICATE FOR U.S. ACCREDITED INVESTORS

	TO: 	NORD RESOURCES CORPORATION 
	AND TO: 	BLACKMONT CAPITAL INC. 
	AND TO: 	SALMON PARTNERS INC. 
	AND TO: 	BLACKMONT CAPITAL CORP. 

CERTIFICATE 

In connection with the purchase by the undersigned subscriber
(the “Subscriber”) of special warrants (the “Purchased Securities”) of Nord
Resources Corporation (the “Corporation”), the Subscriber hereby represents,
warrants, covenants and certifies that the undersigned (or any beneficial
purchaser on whose behalf it is acting) is a U.S. Subscriber (as such term is
defined in the Subscription Agreement to which this Certificate is attached) and
satisfies one or more of the categories indicated below (please initial the
appropriate line below): <>[NTD: Should this be restricted to
institutional accredited investors?] 

	 _____	501(a)(1) 	
      a bank as defined in Section 3(a)(2) of the United States
      Securities Act of 1933 (the “1933 Act”) or a savings and loan
      association or other institution as defined in Section 3(a)(5)(A) of the
      1933 Act whether acting in its individual or fiduciary capacity; a broker
      or dealer registered pursuant to Section 15 of the United States
      Securities Exchange Act of 1934; any insurance company as defined
      in Section 2(a)(13) of the 1933 Act; any investment company registered
      under the United States Investment Company Act of 1940 or a
      business development company as defined in Section 2(a)(48) of that Act;
      any Small Business Investment Company licensed by the United States Small
      Business Administration under Section 301(c) or (d) of the United States
      Small Business Investment Act of 1958; any plan established and
      maintained by a state, its political subdivisions, or any agency or
      instrumentality of a state or its political subdivisions, for the benefit
      of its employees, if such plan has total assets in excess of US$5,000,000;
      any employee benefit plan within the meaning of the United States
      Employee Retirement Income Security Act of 1974, if the
      investment decision is made by a plan fiduciary, as defined in Section
      3(21) of such Act, which is either a bank, savings and loan association,
      insurance company, or registered investment adviser, or if the employee
      benefit plan has total assets in excess of US$5,000,000, or, if a self-
      directed plan, with investment decisions made solely by persons that are
      U.S. Accredited Investors; 

	 	 	
       

	 _____	501(a)(2) 	
      any private business development company as defined in
      Section 202(a)(22) of the Investment Advisers Act of 1940;
  

	 	  	
	 _____	501(a)(3) 	
      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 Offered Securities, with total assets in
      excess of US$5,000,000; 

	 	  	
	 _____	501(a)(4) 	
      a director or executive officer of the Corporation;
    

	 	 	
       

	 _____	501(a)(5) 	
      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;
      

	 	  	
	 _____	501(a)(6) 	
      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 

	 	  	

2 

	 	  	reaching the same income level in the current
      year; 
	 	 	 
	 _____	501(a)(7) 	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
      sophisticated person, being defined as a person who has such knowledge and
      experience in financial and business matters that he or she is capable of
      evaluating the merits and risks of the prospective investment; 
	 	 	 
	 _____	501(a)(8) 	an entity in which all of the equity owners
      satisfy the requirements of one or more of the foregoing categories.
  

Dated: ___________________________,
2007. 

	 	Print name of Subscriber 
	 	 	 
	 	 By:	 
	 	 	Signature 
	 	 	  
	 	 	Title 
	 	 	  
	 	 	  
	 	 	(please print name of individual whose
      signature 
	 	 	appears above, if different from name of
      Subscriber 
	 	 	printed aboveFiled by Automated Filing Services Inc. (604) 609-0244 - Nord Resources Corporation - Exhibit 10.77

Tenth Amendment 

To the

"Agreement for Purchase and Sale of Waste Rock from the
Johnson Camp Mine" 

This document is an amendment ("Amendment") to the "Agreement
for Purchase and Sale of Waste Rock from the Johnson Camp Mine" dated December
23, 2004 ("Agreement") between Nord Resources Corporation ("Seller") and JC
Rock, LLC ("Purchaser"). 

A) Seller and Purchaser hereby agree to extend the term of the
Agreement from August 1, 2007 to October 31, 2007. The Agreement may also be
extended by special arrangement on specific contracts at the sole option of the
Seller. 

B) Seller hereby agrees to reduce the royalty from $1.50 per
ton to $1.00 per ton on fines and rock sold by Purchaser to individuals or
companies where the sales price to such individuals or companies is less than
$6.00 per ton, FOB Johnson Camp. 

C) Purchaser hereby acknowledges that the Agreement is
non-exclusive and hereby reaffirms Seller's right to sell Johnson Camp rock that
is not in Purchaser's inventory to any individual or company during the term of
the Agreement. 

Dated July 31, 2007 

	Nord Resources Corporation 	 	JC Rock, LLC 
	By  	/s/ Erland Anderson 	 	By	 /s/ Jim Rodman 
	  	      Erland Anderson
    	 	  	       Jim Rodman

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