Document:

bullion_8k-ex0401.htm

    Exhibit
      4.1

     

    
      Neither
        this security nor the securities into which this security is exercisable
        have
        been registered with the Securities and Exchange Commission or the securities
        commission of any state.  These securities are issued in reliance upon
        an exemption from registration under the Securities Act of 1933 (the “Securities
        Act”), and, accordingly, may not be offered or sold except pursuant to an
        effective registration statement under the Securities Act or pursuant to
        an
        available exemption from, or in a transaction not subject to, the registration
        requirements of the Securities Act and in accordance with applicable state
        securities laws as evidenced by a legal opinion of counsel to the transferor
        to
        such effect, the substance of which will be reasonably acceptable to the
        company.

      

      

      COMMON
        STOCK PURCHASE WARRANT

      #___________________

       

      To
        purchase __________ shares of common stock of

       

      BULLION
        RIVER GOLD CORP.

       

      Dated:
January
        __, 2008

       

      This
        common stock purchase warrant (the “Warrant”) certifies that,
        for
        value received, ___________________________ (the “Holder”), is entitled,
        upon
        the terms and subject to the limitations on exercise and the conditions
        hereinafter set forth, at any time on or after the date given above (the
“Initial Exercise Date”) and by
        the close of business on the second anniversary of the Initial Exercise Date
        (the “Termination Date”)
        but not thereafter, to subscribe for and purchase from Bullion River Gold
        Corp.,
        a Nevada corporation (the “Company”), up to 
        shares (the “Warrant
        Shares”) of common stock, par value $0.001 per share, of the Company (the
        “Common
        Stock”).  The purchase price of one share of Common Stock under
        this Warrant is equal to the Exercise Price, as defined in Section
        2(a).

       

      1.           
        Definitions.  Capitalized
        terms used and not otherwise defined in this Warrant have the same meanings
        as
        they have in the Unit Purchase Agreement (the “Purchase Agreement”), dated
        January __, 2008, among the Company and the Holder as Purchaser.

       

      2.           
        Exercise.

       

      (a)           
        Exercise
        Price.  The exercise price of the Common Stock under this
        Warrant is $0.40.

       

      (b)           
        Exercise of
        Warrant.  The Holder may exercise the purchase rights
        represented by this Warrant at any time from the Initial Exercise Date to
        five
        o’clock in the afternoon, Pacific Standard Time, on the Termination Date by
        delivering to the Company (i) a duly executed facsimile copy of the annexed
        Exercise Notice (attached hereto as Exhibit A), and,
        (ii)
        within 5 Trading Days of delivering the Exercise Notice to the Company, (A)
        this
        Warrant, and (B)  with payment to the Company of the Exercise Price
        (the “Exercise Amount”).

       

      (c)           
        Exercise
        limitations.

       

      (i)           
        The Holder may not exercise any portion of this Warrant if, immediately after
        the Warrant Shares are issued, the Holder (together with the Holder’s
        Affiliates) would beneficially own more than 4.99% of the number of shares
        of
        the Common Stock outstanding.  For the purposes of the foregoing sentence,
        the number of shares of Common Stock beneficially owned by the Holder and
        its
        Affiliates includes the number of shares of Common Stock issuable upon the
        exercise of this Warrant, but excludes the number of shares of Common Stock
        that
        would be issuable upon (i) the Holder’s exercise of the remaining, unexercised
        portion of this Warrant and (ii) the Holder’s or its Affiliates’ exercise or
        conversion of the unexercised or nonconverted portion of any other securities
        of
        the Company that the Holder or any of its Affiliates own beneficially. 
Except as set forth in the foregoing sentence, for the purposes of this Section
        2(c), beneficial ownership must be calculated in accordance with Section
        13(d)
        of the Securities and Exchange Act of 1934 (“Exchange Act”).

       

      
        
          
          

        

        
          1

          
            

          

        

        
          
          

        

      

      (ii)           
        The Holder acknowledges that the Company is not representing to Holder that
        the
        calculation described in Section 2(c) complies with Section 13(d) of the
        Exchange Act and Holder is solely responsible for any schedules required
        to be
        filed in accordance with it.   The determination of whether this
        Warrant is exercisable (in relation to other securities owned by the Holder
        and
        its Affiliates) is in the sole discretion of the Holder, and the submission
        of
        an Exercise Notice is deemed to be the Holder’s declaration that the Holder has
        determined that this Warrant is exercisable as set out in the Exercise Notice
        and subject to the limitations in this Section 2(c); and the Company is not
        obliged to verify or confirm the accuracy of the Holder’s
        determination.

       

      (iii)           
        For the purposes of this Section 2(c), in determining the number of outstanding
        shares of Common Stock, the Holder may rely on the number of outstanding
        shares
        of Common Stock as reflected in the most recent of (A) the latest filed of
        the
        Company’s Form 10-QSB and Form 10-KSB, (B) a public announcement by the Company
        stating the number of shares of Common Stock outstanding, or (C) any other
        notice by the Company or the Company’s Transfer Agent stating the number of
        shares of Common Stock outstanding.  If Holder asks for it, the Company
        will within two Trading Days confirm orally and in writing to the Holder
        the
        number of shares of Common Stock then outstanding.

       

      (d)           
        Mechanics of
        Exercise.

       

      (i)           
        Cash
        Payment.  Payment may be made either in cash or by certified or
        official bank check payable to the order of the Company equal to the applicable
        aggregate Exercise Price for the number of shares of Common Stock specified
        in
        the Exercise Notice (as such exercise number shall be adjusted to reflect
        any
        adjustment in the total number of shares of Common Stock issuable to the
        Holder
        per the terms of this Warrant) and the Holder shall thereupon be entitled
        to
        receive the number of duly authorized, validly issued, fully-paid and
        non-assessable shares of Common Stock determined as provided
        herein.

       

      (ii)           
        Cashless
        Exercise.

       

      (1)           
        Payment upon exercise may be made at the option of the Holder either (i)
        in cash
        as described in Section (d)(i) above, or (ii) cashlessly in accordance with
        Section (d)(ii)(2) below, or (iii) by a combination of either of the foregoing
        methods, for the number of shares of Common Stock specified in the Exercise
        Notice (as such exercise number is adjusted to reflect any adjustment in
        the
        total number of shares of Common Stock issuable to the Holder under the terms
        of
        this Warrant) and the Holder shall thereupon be entitled to receive the number
        of duly authorized, validly issued, fully paid and non-assessable shares
        of
        Common Stock determined as provided herein.

       

      (2)           
        If the Fair Market Value (defined below) of one share of Common Stock is
        greater
        than the Exercise Price (at the date of calculation as set forth below),
        in lieu
        of exercising this Warrant for cash, the Holder may elect to receive shares
        equal to the value (as determined below) of this Warrant (or the portion
        thereof
        being exercised) by surrender of this Warrant at the principal office of
        the
        Company together with the properly endorsed Exercise Notice in which event
        the
        Company shall issue to the Holder a number of shares of Common Stock computed
        using the following formula:

       

      X=Y
        (A-B)

                A

       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

      

       

                                      
        

      
        	                Where:	X
                = 	the
                number of shares of Common Stock to be issued to the Holder
	 	 	 
	
                 

              	
                Y
                  =

              	
                the
                  number of shares of Common Stock purchasable under the Warrant
                  or, if only
                  a portion of the Warrant is being exercised, the portion of the
                  Warrant
                  being exercised (at the date of such calculation)
                  

              

      

       

      
        	
                 

              	
                A
                  =

              	
                the
                  Fair Market Value of one share of the Company’s Common Stock (at the date
                  of such calculation) 

              
	 	 	 
	 	B
                = 	Exercise
                Price (as adjusted to the date of such
                calculation)

      

       

      (3)           
        The Holder may employ the cashless exercise feature described in Section
        (2)
        above only if the shares underlying the Warrant are not registered.

       

      (4)           
        For purposes of Rule 144 promulgated under the 1933 Act, it is intended,
        understood and acknowledged that the Warrant Shares issued in a cashless
        exercise transaction shall be deemed to have been acquired by the Holder,
        and
        the holding period for the Warrant Shares shall be deemed to have commenced,
        on
        the date this Warrant was originally issued pursuant to the Purchase
        Agreement.

       

      (5)           
        Fair Market Value. Fair Market Value of a share of Common Stock as of a
        particular date (the "Determination Date") shall mean:

       

      (a)           
        If the Company's Common Stock is traded on an exchange or is quoted on the
        National Association of Securities Dealers, Inc. Automated Quotation ("NASDAQ"),
        National Market System, the NASDAQ SmallCap Market or the American Stock
        Exchange, LLC, then the closing or last sale price, respectively, reported
        for
        the last business day immediately preceding the Determination Date;

       

      (b)           
        If the Company's Common Stock is not traded on an exchange or on the NASDAQ
        National Market System, the NASDAQ SmallCap Market or the American Stock
        Exchange, Inc., but is traded in the over-the-counter market, then the average
        of the closing bid and ask prices reported for the last business day immediately
        preceding the Determination Date; or

       

      (c)           
        If the Company's Common Stock is not publicly traded, then as the Holder
        and the
        Company agree, or in the absence of such an agreement, by arbitration in
        accordance with the rules then standing of the American Arbitration Association,
        before a single arbitrator to be chosen from a panel of persons qualified
        by
        education and training to pass on the matter to be decided.

       

      (e)           
        Authorization of Warrant
        Shares.  The Company will issue all Warrant Shares as duly
        authorized, validly issued, fully paid and non-assessable, and free from
        all
        taxes, liens and charges (other than taxes in respect of any transfer occurring
        contemporaneously with the issue).

       

      (f)           
        Delivery of certificates
        upon
        exercise.  The Company’s transfer agent will deliver
        certificates for Warrant Shares to the Holder to the address specified by
        the
        Holder in the Exercise Notice within 5 Trading Days from the later of (A)
        the
        Company’s receipt of the Exercise Notice, (B) the Holder’s surrender of this
        Warrant, and (C) the Company’s receipt of the Exercise Amount as set out in
        Section 2(b) (“Warrant Share
        Delivery Date”).  This Warrant is deemed to have been exercised
        on the date the Exercise Amount is received by the Company (“Exercise Date”); and the
        Warrant Shares are deemed to have been issued, and Holder is deemed to have
        become a holder of record of the shares for all purposes, on the Exercise
        Date.

       

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

      (g)           
        Delivery of new Warrants
        upon
        exercise.  If this Warrant is exercised in part, the Company
        will, when it delivers the certificate or certificates representing Warrant
        Shares, deliver to Holder a new Warrant evidencing the rights of Holder to
        purchase the unpurchased Warrant Shares, identical in all other respects
        with
        this Warrant.

       

      (h)           
        Rescission
        rights.  If the Company fails to cause its transfer agent to
        transmit to the Holder a certificate or certificates representing the Warrant
        Shares pursuant to this Section (h) by the Warrant Share Delivery Date, then
        the
        Holder may rescind the exercise.

       

      (i)           
        No fractional shares or
        scrip.  No fractional shares or scrip representing fractional
        shares may be issued upon the exercise of this Warrant.  If the Holder
        would otherwise be entitled to fractional shares upon the exercise, the Company
        will pay a cash adjustment in respect of the fraction in an amount equal
        to the
        fraction multiplied by the Exercise Price.

       

      (j)           
        Charges, taxes and
        expenses.  The Company will issue certificates for Warrant
        Shares in the name of the Holder and will not charge the Holder for any issue
        or
        transfer tax or other incidental expense in respect of the issuance of the
        certificate.

       

      (k)           
        Closing of
        books.  The Company will not close its stockholder books or
        records in any manner that prevents the timely exercise of this
        Warrant.

       

      3.           
        Certain
        Adjustments.

       

      (a)           
        Stock dividends and
        splits.  If the Company, at any time while this Warrant is
        outstanding, (i) pays a stock dividend or otherwise makes a distribution
        on
        shares of its Common Stock or any other Common Stock Equivalent (which, for
        avoidance of doubt, does not include any shares of Common Stock issued by
        the
        Company pursuant to this Warrant), (ii) subdivides outstanding shares of
        Common
        Stock into a larger number of shares, (iii) combines outstanding shares of
        Common Stock into a smaller number of shares, or (iv) issues by reclassification
        of shares of the Common Stock any shares of capital stock of the Company,
        then
        the Exercise Price must be multiplied by a fraction of which the numerator
        is
        the number of shares of Common Stock (excluding treasury shares, if any)
        outstanding before the event and of which the denominator is the number of
        shares of Common Stock outstanding after the event, and the number of shares
        issuable upon exercise of this Warrant must be proportionately adjusted by
        this
        fraction.  Any adjustment made pursuant to this Section 3(a) is
        effective immediately after the record date for the determination of
        stockholders entitled to receive the dividend or distribution and is effective
        immediately after the effective date in the case of a subdivision, combination
        or re-classification.

       

      (b)           
        Fundamental Transaction.
        If, at any time while this Warrant is outstanding, (i) the Company merges
        or
        consolidates with or into another Person, (ii) the Company sells all or
        substantially all of its assets in one or a series of related transactions,
        (iii) any Person completes a tender offer or exchange offer by which holders
        of
        Common Stock are permitted to tender or exchange their shares for other
        securities, cash or property, or (iv) the Company reclassifies its Common
        Stock
        or completes any compulsory share exchange pursuant to which the Common Stock
        is
        effectively converted into or exchanged for other securities, cash or property
        (in any such case, a “Fundamental Transaction”),
        then, upon any subsequent conversion of this Warrant, the Holder has the
        right
        to receive, for each Warrant Share that would have been issued upon the exercise
        absent the Fundamental Transaction, the same consideration as the Company
        has
        given its other holders of its Common Stock for the conversion of their Common
        Stock outstanding at the time of the Fundamental Transaction (the “Alternate
        Consideration”).  Any successor to the Company or surviving
        entity in a Fundamental Transaction must issue to the Holder a new warrant
        consistent with the foregoing provisions with evidence of the Holder’s right to
        exercise the warrant into Alternate Consideration.  The terms of any
        agreement pursuant to which a Fundamental Transaction is completed must include
        terms requiring the successor or surviving entity to comply with the provisions
        of this Section 3(b) and insuring that this Warrant (or any replacement
        security) is similarly adjusted upon any subsequent transaction analogous
        to a
        Fundamental Transaction.

       

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

      (c)           
        Calculations.  All
        calculations under this Section 3 must be made to the nearest cent or the
        nearest 1/100th
        of a
        share, as the case may be.  The number of shares of Common Stock
        outstanding at any given time does not include shares of Common Stock owned
        or
        held by or for the account of the Company.  For the purposes of this
        Section 3, the number of shares of Common Stock deemed to be issued and
        outstanding as of a given date is the sum of the number of shares of Common
        Stock (excluding treasury shares, if any) issued and outstanding.

       

      (d)           
        Notice to
        Holders.  If the Company makes adjustments under this Section
        3, the Company will promptly mail to each Holder a notice containing a
        description of the event that required the adjustment.  If the Company
        proposes any transaction that affects the rights of the holders of its Common
        Stock, then the Company will notify the Holders of the proposal at least
        twenty
        days before the record date set for the transaction.

       

      4.           
        Warrant
        register.  The Company will register this Warrant on its
        warrant register and will treat the registered Holder as the absolute owner
        for
        all purposes.

       

      5.           
        Miscellaneous.

       

      (a)           
        Assignment; Exchange of
        Warrant.  Subject to compliance with applicable securities
        laws, this Warrant, and the rights evidenced hereby, may be transferred by
        any
        registered holder hereof (a "Transferor").  On the surrender for
        exchange of this Warrant, with the Transferor's endorsement in the form of
Exhibit B attached
        hereto (the “Transferor Endorsement Form") and together with an opinion of
        counsel reasonably satisfactory to the Company that the transfer of this
        Warrant
        will be in compliance with applicable securities laws, the Company at its
        expense, but with payment by the Transferor of any applicable transfer taxes,
        will issue and deliver to or on the order of the Transferor thereof a new
        Warrant or Warrants of like tenor, in the name of the Transferor and/or the
        transferee(s) specified in such Transferor Endorsement Form (each a
        "Transferee"), calling in the aggregate on the face or faces thereof for
        the
        number of shares of Common Stock called for on the face or faces of the Warrant
        so surrendered by the Transferor.  No such transfers shall result in a
        public distribution of the Warrant.

       

      (b)           
        No rights as shareholder
        until
        Exercise Date.  This Warrant does not entitle the Holder to any
        voting rights or other rights as a shareholder of the Company before the
        Exercise Date.  Upon the surrender of this Warrant and the payment of
        the aggregate Exercise Price, the Company will issue the Warrant Shares to
        the
        Holder as the record owner of the Warrant Shares as of the close of business
        on
        the Exercise Date.

       

      (c)           
        Loss, Theft, Destruction
        or
        Mutilation of Warrant.  The Company covenants that upon receipt
        by the Company of evidence reasonably satisfactory to it of the loss, theft,
        destruction or mutilation of this Warrant or any stock certificate relating
        to
        the Warrant Shares, and, in case of loss, theft or destruction, of indemnity
        or
        security reasonably satisfactory to it, and upon surrender and cancellation
        of
        the Warrant or stock certificate, if mutilated, the Company will make and
        deliver a new Warrant or stock certificate of like tenor and dated as of
        the
        cancellation, in lieu of the Warrant or stock certificate.

       

      (d)           
        Saturdays, Sundays, Holidays,
        etc.  If the last date for doing anything under this Warrant
        falls on a Saturday, Sunday or a legal holiday, then the thing may be done
        on
        the next succeeding Trading Day.

       

      (e)           
        Authorized
        Shares.

       

      (i)           
        The Company covenants that, while the Warrant is outstanding, it will reserve
        from its authorized and unissued Common Stock a sufficient number of shares
        to
        provide for the issuance of the Warrant Shares upon the exercise of any purchase
        rights under this Warrant. The Company further covenants that its issuance
        of
        this Warrant constitutes full authority to its officers who are charged with
        the
        duty of executing stock certificates to execute and issue the necessary
        certificates for the Warrant Shares upon the exercise of the purchase rights
        under this Warrant. The Company will take all such reasonable action as may
        be
        necessary to assure that the Warrant Shares are issued as provided without
        a
        violation of any applicable law or regulation, or of any requirements of
        the
        Trading Market upon which the Common Stock may be listed or quoted.

       

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

      (ii)           
        Unless waived or consented to by the Holder, the Company will not by any
        action
        avoid or seek to avoid the observance or performance of any of the terms
        of this
        Warrant, but will at all times in good faith assist in carrying out of all
        its
        terms and take whatever actions is necessary or appropriate to protect the
        rights of Holder under this Warrant from impairment.

       

      (f)           
        Jurisdiction. All
        questions concerning the construction, validity, enforcement and interpretation
        of this Warrant must be determined in accordance with the provisions of the
        Purchase Agreement.

       

      (g)           
        Restrictions.  The
        Holder acknowledges that the Holder’s sale or transfer of the Warrant Shares, if
        not registered, will be subject to restrictions upon resale imposed by state
        and
        federal securities laws.

       

      (h)           
        No waiver.  No
        course of dealing or any delay or failure to exercise any right hereunder
        on the
        part of Holder operates as a waiver of the right or otherwise prejudices
        Holder’s rights, powers or remedies.

       

      (i)           
        Notice.  Any
        notice, request or other document required or permitted to be given or delivered
        by either party to the other must be delivered in accordance with the notice
        provisions of the Purchase Agreement.

       

      (j)           
        Successors and
        Assigns.  Subject to applicable securities laws, this Warrant
        inures to the benefit of and binds the successors and permitted assigns of
        the
        Company and the Holder.

       

      (k)           
        Amendment.  Any
        amendment of this Warrant must be in writing and signed by both the Company
        and
        the Holder.

       

      (l)           
        Severability.  Wherever
        possible, each provision of this Warrant must be interpreted under applicable
        law, but if any provision of this Warrant is prohibited by or invalid under
        applicable law, the provision is ineffective to the extent of the prohibition
        or
        invalidity, without invalidating the remaining provisions of this
        Warrant.

       

      (m)           
        Headings.  The
        headings used in this Warrant are for the convenience of reference only and
        are
        not, for any purpose, deemed a part of this Warrant.

       

      

       

      In
        witness whereof the Company has caused this Warrant to be executed by its
        duly
        authorized officer.

       

      

      Dated:  January
        __,
        2008

      

      
        	 	
                BULLION
                  RIVER GOLD CORP.

                
                

                
                

              
	 	
                By:__________________________________________

                     Name:
                  Peter M. Kuhn

                     Title:
                  Chief Executive Officer

                
                

              

      

      

      

      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

      

      

      EXHIBIT
        A

      

      EXERCISE
        NOTICE

      (To
        be
        signed only on exercise of Warrant)

      

      TO:
        Bullion River Gold Corp.

      

      The
        undersigned, pursuant to the provisions set forth in the attached Warrant,
        hereby irrevocably elects to purchase (check applicable box):

      

      ___         
        ________ shares of the Common Stock covered by such Warrant; and/or

      

      ___         
        the maximum number of shares of Common Stock covered by such Warrant pursuant
        to
        the Cashless Exercise procedure set forth in Section 2(d)(ii).

      

      

      The
        undersigned herewith makes payment of the full Exercise Price for such shares
        at
        the price per share provided for in such Warrant, which is an aggregate of
        $_______________________. Such payment takes the form of (check applicable
        box
        or boxes):

      

      ___         
        $__________ in lawful money of the United States; and/or

      

      ___         
        the cancellation of such portion of the attached Warrant as is exercisable
        for a
        total of _______ shares of Common Stock (using a Fair Market Value of $_______
        per share for purposes of this calculation).

      

      

      The
        undersigned requests that the certificates for such shares be issued in the
        name
        of, and delivered to
        ___________________________________________________________________

      whose
        address is
        _______________________________________________________________.

      

      The
        undersigned represents and warrants that all offers and sales by the undersigned
        of the securities issuable upon exercise of the within Warrant shall be made
        pursuant to registration of the Common Stock under the Securities Act of
        1933,
        as amended (the “Securities Act”) or pursuant to an exemption from registration
        under the Securities Act.

      

      

      Dated:
        ___________________                 ___________________________________

                             (Signature
        must conform to name of holder

                             as
        specified on the face of the Warrant)

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      EXHIBIT B

      

      FORM
        OF TRANSFEROR ENDORSEMENT

      (To
        be
        signed only on transfer of Warrant)

       

      For
        value
        received, the undersigned hereby sells, assigns, and transfers unto the
        person(s) named below under the heading "Transferees" the right represented
        by
        the within Warrant to purchase the percentage and number of shares of Common
        Stock of BULLION RIVER GOLD CORP. to which the within Warrant relates specified
        under the headings "Percentage Transferred" and "Number Transferred,"
        respectively, opposite the name(s) of such person(s) and appoints each such
        person Attorney to transfer its respective right on the books of BULLION
        RIVER
        GOLD CORP. with full power of substitution in the premises.

       

      

      
        	
                Transferees

              	
                Percentage
                  Transferred

              	
                Number
                  Transferred

              
	 	 	 
	 	 	 
	 	 	 

      

      

      

      
        	
                
                

                Dated:  ______________,
                  ___________

                 

                 

                
                

                
                

                
                

                Signed
                  in the presence of:

                 

                __________________________________

                (Name)

                
                

                
                

                 

                 

                ACCEPTED
                  AND AGREED:

                [TRANSFEREE]

                 

                __________________________________

                (Name)

              	
                
                

                ____________________________________________________________

                (Signature
                  must conform to name of holder as specified

                on
                  the face of the warrant)

                
                

                
                

                
                

                 

                 

                _____________________________________________________________

                _____________________________________________________________

                (address)

                
                

                 

                 

                
                  _____________________________________________________________

                  _____________________________________________________________

                

                (address)bullion_8k-ex1001.htm

    Exhibit
      10.1

     

    UNIT
      PURCHASE AGREEMENT

     

    The
      undersigned (hereinafter “Purchaser”) hereby wishes to purchase, and Bullion
      River Gold Corp., a Nevada corporation (the “Company”), wishes to sell, units of
      securities (the “Units”) each comprised of (i) one share of Common Stock of the
      Company, par value $0.001 per share (“Common Stock”), and (ii) one warrant to
      purchase one share of Common Stock in the form of that attached hereto as Exhibit
      A  pursuant to the terms of this Unit Purchase
      Agreement.

     

    The
      Units, the Common Stock, the Warrant and the shares issuable upon exercise
      of
      the Warrant (“Warrant Shares”) are sometimes referred to collectively herein as
      the “Securities.”

     

    Section
      1.                Subscription of
      the
      Purchaser.

     

    1.1           
      Purchase of
      Units.  The Purchaser hereby irrevocably agrees, represents and
      warrants with, to and for the benefit of the Company, that such Purchaser is
      executing this Unit Purchase Agreement (“Agreement”) to purchase _______ Units
      from the Company (“Units”), with each Unit consisting of (i) one share of Common
      Stock of the Company and (ii) one Warrant to purchase one share of Common Stock
      of the Company  for an exercise price of $0.40 per share, at a price
      per Unit of $0.25, resulting in the purchase price and number of Units set
      forth
      on the Purchaser’s signature page hereto (the “Offering Price”).  The
      Purchaser understands that the Company is relying upon the accuracy and
      completeness of the information contained herein in complying with its
      obligations under federal and state securities and other applicable
      laws.  Subject to the terms and conditions of this Agreement, upon
      execution and delivery hereof by the Purchaser, the Purchaser hereby agrees
      to
      purchase the Units of the Company pursuant to the transaction hereof, and
      against concurrent delivery of the purchase price for such Units.

     

    1.2           
      Offering.  This
      offering of the Units (the "Offering") is being made to Purchaser, who shall
      represent to the Company pursuant to this Agreement that Purchaser is an
      "accredited investor," as that term is defined in Regulation D promulgated
      under
      the Securities Act of 1933, as amended (the "Securities Act") or who has
      otherwise been qualified as an investor by the Company.  All of the
      Units offered hereby are being sold by the Company.  The Company is
      offering Units for the consideration set forth herein.  There is no
      minimum amount required to close the Offering and the Company shall be entitled
      to receive any and all of the Offering proceeds as the investments are
      made.  The minimum subscription amount is $25,000.

     

    Section
      2.               
The
      Closing.

     

    2.1           
      The closing of the Issuance to Purchaser (the "Closing") shall take place
      simultaneously with the execution and delivery of this Agreement at the offices
      of Richardson & Patel LLP, 10900 Wilshire Blvd., Suite 500, Los Angeles
      California at 4:00 pm PST on January __, 2008, or such later date and time
      as
      the Company and the Purchaser shall agree.  

     

    2.2           
      At the Closing, the Company shall deliver to Purchaser a stock certificate
      representing the Common Stock purchased and a Warrant duly executed by the
      Company, against receipt by the Company of a wire transfer in an aggregate
      amount equal to the purchase price therefor as set forth on the signature page
      hereto and the Agreement duly executed by Purchaser. The wire transfer shall
      be
      sent pursuant to the following instructions:

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

      
        
          	
                  Bank:

                	
                  Wells
                    Fargo Bank

                
	 	
                  5340
                    Kietzke Lane

                
	 	
                  Reno,
                    Nevada 89511

                
	 	
                  (775)
                    689-6012

                
	 	 
	
                  Account
                    Name:

                	
                  Bullion
                    River Gold Corp.

                
	
                  Routing
                    No.:

                	
                  121
                    000 248

                
	
                  Account
                    No.:

                	
                  403
                    001 3395

                
	
                  Swift
                    Code:

                	
                  WFBIUS6S

                

        

      

       

    

    Section
      3.                Representations
      and
      Warranties of the Company.

     

    The
      Company hereby represents and warrants to Purchaser as follows:

     

    3.1           
      Organization.  The
      Company is duly organized, validly existing and in good standing under the
      laws
      of the State of Nevada and is qualified to conduct its business as a foreign
      corporation in each jurisdiction where the failure to be so qualified would
      have
      a material adverse effect on the Company.

     

    3.2           
      Authorization of
      Agreement, Etc.  The execution, delivery and performance by the
      Company of this Agreement, the Warrant and each other document or instrument
      contemplated hereby or thereby (collectively, the "Financing Documents") have
      been duly authorized by all requisite corporate action by the Company; and
      this
      Agreement and each other Financing Document have been duly executed and
      delivered by the Company.  Each of the Financing Documents, when
      executed and delivered by the Company, constitutes the valid and binding
      obligation of the Company, enforceable against the Company in accordance with
      its terms, subject to applicable bankruptcy, insolvency, reorganization,
      fraudulent conveyance, moratorium or other similar laws affecting creditors'
      rights and remedies generally, and subject as to enforceability to general
      principles of equity (regardless of whether enforcement is sought in a
      proceeding at law or in equity).

     

    3.3           
      Use of
      Proceeds.  The Company will use the net proceeds from the sale
      of the Securities hereunder for working capital purposes.

     

    3.4           
      Reservation of
      Shares.  So long as any of the Warrants remain outstanding, the
      Company shall take all action necessary to at all times have authorized, and
      reserved for the purpose of issuance, no less than one hundred percent (100%)
      of
      the aggregate number of shares of Common Stock needed to provide for the
      issuance of the Warrant Shares.

     

    3.5           
      Issuance of
      Shares.  The Common Stock to be issued and the Warrant to be
      granted at the Closing have been duly authorized by all necessary corporate
      action and the Common Stock, when paid for or issued in accordance with the
      terms hereof, shall be validly issued and outstanding, fully paid and
      nonassessable.  When the Warrant Shares are issued in accordance with
      the terms of the Warrant, such shares will be duly authorized validly issued
      and
      outstanding, fully paid and nonassessable, and the holder shall be entitled
      to
      all rights accorded to a holder of Common Stock.

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    Section
      4.               
Representations
      and
      Warranties of Purchaser.

     

    Purchaser
      hereby represents and warrants to the Company as follows:

     

    4.1           
      Authorization of
      the
      Documents.  Purchaser has all requisite power and authority
      (corporate or otherwise) to execute, deliver and perform the Financing Documents
      and the transactions contemplated thereby, and the execution, delivery and
      performance by Purchaser of the Financing Documents have been duly authorized
      by
      all requisite action by Purchaser and each such Financing Document, when
      executed and delivered by Purchaser, constitutes a valid and binding obligation
      of Purchaser, enforceable against Purchaser in accordance with its terms,
      subject to applicable bankruptcy, insolvency, reorganization, fraudulent
      conveyance, moratorium or other similar laws affecting creditors' rights and
      remedies generally, and subject, as to enforceability, to general principles
      of
      equity (regardless of whether enforcement is sought in a proceeding at law
      or in
      equity).

     

    4.2           
      Representation of
      Accredited Investor Status, Investment Experience and Ability to Bear
      Risk.  Purchaser acknowledges that the Offering has not been
      registered with the Securities and Exchange Commission because the Company
      is
      relying on an exemption from registration under Section 4(2) of the Securities
      Act and Regulation D promulgated thereunder. Purchaser believes that at the
      time
      of the sale of the Units to Purchaser, Purchaser (or, if Purchaser is a
      corporation, limited liability company or trust, each of its equity owners)
      qualifies as an "accredited investor" (as defined under Rule 501 of Regulation
      D
      promulgated under the Securities Act) using the following qualification factors
      (check all appropriate items):

     

    (__)      $1,000,000
      Net Worth
      Test:

     

    I,
      Purchaser, am a natural person and my individual net worth, or joint net worth
      with my spouse (if any), inclusive of home, furnishings and automobiles, at
      the
      time of this purchase is in excess of $1,000,000.

     

    (__)     $200,000
      Individual/$300,000 Joint Annual Income Test:

     

    I,
      Purchaser, am a natural person and my individual annual gross income (exclusive
      of my spouse's income) has been in excess of $200,000 in each of the two most
      recent tax years, and I reasonably expect individual annual gross income
      (exclusive of my spouse's income) to be in excess of $200,000 for the current
      tax year; or I am a natural person and my joint annual gross income (including
      my spouse's annual gross income) has been in excess of $300,000 in each of
      the
      two most recent tax years, and I reasonably expect our joint annual gross
      incomes to be in excess of $300,000 for the current tax year.

     

    ("Income"
      under this test is defined as adjusted gross income for federal income tax
      purposes plus (i) deductions for long-term capital gains under the Internal
      Revenue Code; (ii) deductions for depletion under section 611 et seq. of the
      Code; (iii) any exclusion for interest received on tax-exempt securities; and
      (iv) any losses of a Company allocated to the individual limited partners of
      the
      Company as reported on Form 1040).

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    (__)      Bank
      or Investment Company Test:

     

    Purchaser
      is a bank as defined in section 3(a)(2) of the Securities Act, or any savings
      and loan association or other institution as defined in section 3(a)(5)(A)
      of
      the Securities Act, whether acting in its individual or fiduciary capacity;
      or
      is a broker or dealer registered pursuant to section 15 of the Securities
      Exchange Act of 1934; or is an insurance company as defined in section 2(13)
      of
      the Securities Act; or is any investment company registered under the Investment
      Corporation Act of 1940, or a business development company as defined in section
      2(a)(48) of that Act; or is a Small Business Investment Corporation licensed
      by
      the U.S. Small Business Administration under section 301(c) or (d) of the Small
      Business Investment Act of 1958; is a plan established and maintained by a
      state, its political subdivision, 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 $5,000,000; or is an employee benefit plan within
      the
      meaning of the 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 $5,000,000, or, if a self-directed plan, with
      investment decisions made solely by persons that are accredited
      investors.

     

    (__)     Private
      Business Development Corporation Test:

     

    Purchaser
      is a private business development company as defined in section 202(a)(22)
      of
      the Investment Advisors Act of 1940.

     

    (__)      IRC
      Section 501(c)(3) Organization Test:

     

    Purchaser
      is an organization described in Section 501(c)(3) of the Internal Revenue Code,
      corporation, Massachusetts or similar business trust, or Company, not formed
      for
      the specific purpose of acquiring the securities being offered, with total
      assets in excess of $5,000,000.

     

    (__)      Direct
      Relationship to Issuer Test:

     

    Purchaser
      is a director, executive officer, partner or manager of the Company of the
      securities being offered or sold, or any director, executive officer or manager
      of a partner or partner of that issuer.

     

    (__)      $5,000,000
      Noninvestment Trust Test:

     

    Purchaser
      is a trust with total assets in excess of $5,000,000 not formed for the specific
      purpose of acquiring the securities being offered, whose purchase is directed
      by
      a "sophisticated person" as described in section 230.506(b)(2)(ii).

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    (__)      Equity
      Entity Comprised of Accredited Investors Test:

     

    Purchaser
      is any equity entity in which all of the equity owners are accredited investors
      as defined above.   Purchaser has had one of the persons
      responsible for overseeing and/or managing one or more of Purchaser’s financial
      accounts complete the attestation in Section D hereof in order to verify the
      information in this Section 4:

     

    Yes
      _________           No
      _________

     

    In
      addition, Purchaser is knowledgeable and experienced with respect to the
      financial and business activities contemplated by the Company and is capable
      of
      evaluating the risks and merits of investing in the Units and, in making a
      decision to proceed with this investment, has not relied upon any
      representations, warranties or agreements, other than those set forth in this
      Agreement and can bear the economic risk of an investment in the Company for
      an
      indefinite period of time, and can afford to suffer the complete loss
      thereof.

     

    4.3           
      U.S.A. Patriot Act
      Representations.

     

    (A)           
      Purchaser represents, warrants and covenants that Purchaser:

     

    (i)(a)
      is subscribing for the
      Securities for Purchaser’s own account, own risk and own beneficial interest,
      (b) is not acting as an agent, representative, intermediary, nominee or in
      a
      similar capacity for any other person or entity, nominee account or beneficial
      owner, whether a natural person or entity (each such natural person or entity,
      an “Underlying Beneficial Owner”) and no Underlying Beneficial Owner will have a
      beneficial or economic interest in the Securities being purchased by Purchaser
      (whether directly or indirectly, including without limitation, through any
      option, swap, forward or any other hedging or derivative transaction), (c)
      if it
      is an entity, including, without limitation, a fund-of-funds, trust, pension
      plan or any other entity that is not a natural person (each, an “Entity”), has
      carried out thorough due diligence as to and established the identities of
      such
      Entity’s investors, directors, officers, trustees, beneficiaries and grantors
      (to the extent applicable, each a “Related Person” of such Entity), holds the
      evidence of such identities, will maintain all such evidence for at least five
      years from the date of Purchaser’s resale or other disposition of all the
      Securities, will request such additional information as the Company may require
      to verify such identities as may be required by applicable law, and will make
      such information available to the Company upon its request, and (d) does not
      have the intention or obligation to sell, pledge, distribute, assign or transfer
      all or a portion of the Securities to any Underlying Beneficial Owner or any
      other person; or
      (check and initial one
      box)

    

    (ii)(a)
      is subscribing for the
      Securities as a record owner and will not have a beneficial ownership interest
      in the Securities, (b) is acting as an agent, representative, intermediary,
      nominee or in a similar capacity for one or more Underlying Beneficial Owners
      (as defined in (A)(i)(a) above), and understands and acknowledges that the
      representations, warranties and agreements made in the Financing Documents
      are
      made by Purchaser with respect to both Purchaser and the Underlying Beneficial
      Owner(s), (c) has all requisite power and authority from the Underlying
      Beneficial Owner(s) to execute and perform the obligations under the Financing
      Documents, (d) has carried out thorough due diligence as to and established
      the
      identities of all Underlying Beneficial Owners (and, if an Underlying Beneficial
      Owner is not a natural person, the identities of such Underlying Beneficial
      Owner’s Related Persons (to the extent applicable)), holds the evidence of such
      identities, will maintain all such evidence for at least five years from the
      date of Purchaser’s resale or other disposition of all the Securities, and will
      make such information available to the Company upon its request and (e) does
      not
      have the intention or obligation to sell, pledge, distribute, assign or transfer
      all or a portion of the Securities to any person other than the Underlying
      Beneficial Owner(s).

    

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    (B)           
      Purchaser hereby represents and warrants that the proposed investment in the
      Company that is being made on its own behalf or, if applicable, on behalf of
      any
      Underlying Beneficial Owners does not directly or indirectly contravene United
      States federal, state, local or international laws or regulations applicable
      to
      Purchaser, including anti-money laundering laws (a “Prohibited
      Investment”).

    

    (C)           
      Federal regulations and Executive Orders administered by the U.S. Treasury
      Department’s Office of Foreign Assets Control (“OFAC”) prohibit, among other
      things, the engagement in transactions with, and the provision of services
      to,
      certain foreign countries, territories, entities and individuals.  The
      lists of OFAC prohibited countries, territories, persons and entities can be
      found on the OFAC website at <www.treas.gov/ofac>.  Purchaser
      hereby represents and warrants that neither Purchaser nor, if applicable, any
      Underlying Beneficial Owner or Related Person, is a country, territory, person
      or entity named on an OFAC list, nor is Purchaser nor, if applicable, any
      Underlying Beneficial Owner or Related Person, a natural person or entity with
      whom dealings are prohibited under any OFAC regulations.

    

    (D)           
      Purchaser represents and warrants that neither Purchaser nor, if applicable,
      any
      Underlying Beneficial Owner or Related Person, is a senior foreign political
      figure, or any immediate family member or close associate of a senior foreign
      political figure within the meaning of, and applicable guidance issued by the
      Department of the Treasury concerning, the U.S. Bank Secrecy Act (31 U.S.C.
      §5311 et seq.), as amended, and any regulations promulgated
      thereunder.

    

    (E)           
      Purchaser agrees promptly to notify the Company should Purchaser become aware
      of
      any change in the information set forth in paragraphs (A) through
      (D).

    

    (F)           
      Purchaser agrees to indemnify and hold harmless the Company, its affiliates,
      their respective directors, officers, shareholders, employees, agents and
      representatives (each, an “Indemnitee”) from and against any and all losses,
      liabilities, damages, penalties, costs, fees and expenses (including legal
      fees
      and disbursements) (collectively, “Damages”) which may result, directly or
      indirectly, from Purchaser’s misrepresentations or misstatements contained
      herein or breaches hereof relating to paragraphs (A) through (D).

    

    (G)           
      Purchaser understands and agrees that, notwithstanding anything to the contrary
      contained in any document (including any side letters or similar agreements),
      if, following Purchaser’s investment in the Company, it is discovered that the
      investment is or has become a Prohibited Investment, such investment may
      immediately be redeemed by the Company or otherwise be subject to the remedies
      required by law, and Purchaser shall have no claim against any Indemnitee for
      any form of Damages as a result of such forced redemption or other
      action.

    

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    (H)           
      Upon the written request from the Company, Purchaser agrees to provide all
      information to the Company to enable the Company to comply with all applicable
      anti-money laundering statutes, rules, regulations and policies, including
      any
      policies applicable to a portfolio investment held or proposed to be held by
      the
      Company. Purchaser understands and agrees that the Company may release
      confidential information about Purchaser and, if applicable, any Underlying
      Beneficial Owner(s) or Related Person(s) to any person, if the Company, in
      its
      sole discretion, determines that such disclosure is necessary to comply with
      applicable statutes, rules, regulations and policies.

     

    4.4           
      Risk
      Factors.  The Purchaser understands and acknowledges that the
      purchase of the Securities involves a number of significant risks, and that
      the
      Purchaser may lose the Purchaser’s entire investment in the Securities.
      Purchaser has read the Company’s various filings and reports on file and
      publicly available with the Securities and Exchange Commission including the
      Company’s financial statements included therein.

     

    4.5           
      Restricted
      Stock. Purchaser understands and acknowledges that the Securities have
      not been, and when issued will not be, registered with the Securities and
      Exchange Commission. Further, the Purchaser understands and acknowledges that
      the certificates representing the Common Stock and the Warrant Shares, when
      issued, shall bear a restrictive legend.  

     

    Section
      5.               
Conditions at
      Closing.

     

    5.1           
      Precedent to the
      Obligation of the Company to Sell the Securities. The obligation
      hereunder of the Company to issue and sell the Securities to the Purchaser
      is
      subject to the satisfaction or waiver, at or before the Closing, of each of
      the
      conditions set forth below.  These conditions are for the Company’s
      sole benefit and may be waived by the Company at any time in its sole
      discretion.

     

    (A)           
      Accuracy of the
      Purchaser’s Representations and Warranties.  The
      representations and warranties of the Purchaser shall be true and correct in
      all
      material respects as of the date when made and as of the Closing Date as though
      made at that time, except for representations and warranties that are expressly
      made as of a particular date, which shall be true and correct in all material
      respects as of such date.

     

    (B)           
      Performance by the
      Purchaser.  The Purchaser shall have performed, satisfied and
      complied in all respects with all covenants, agreements and conditions required
      by this Agreement to be performed, satisfied or complied with by the Purchaser
      at or prior to the Closing.

     

    (C)           
      Delivery of Purchase
      Price.  The Purchase Price for the Securities has been
      delivered to the Company at the Closing Date.

     

    (D)           
      Delivery of
      Transaction Documents.  The Transaction Documents shall have
      been duly executed and delivered to the Company by the Purchaser.

     

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    5.2           
      Conditions Precedent
      to the Obligation of the Purchaser to Purchase the
      Securities.  The obligation hereunder for the Purchaser to
      acquire and pay for the Securities is subject to the satisfaction or waiver,
      at
      or before the Closing, of each of the conditions set forth
      below.  These conditions are for the Purchaser’s sole benefit and may
      be waived by the Purchaser at any time in its sole discretion.

     

    (A)           
      Accuracy of the
      Company’s Representations and Warranties.  Each of the
      representations and warranties of the Company in this Agreement shall be true
      and correct in all material respects as of the date when made and as of the
      Closing Date as though made at that time (except for representations and
      warranties that are expressly made as of a particular date), which shall be
      true
      and correct in all material respects as of such date.

     

    (B)           
      Performance by the
      Company.  The Company shall have performed, satisfied and
      complied in all material respects with all covenants, agreements and conditions
      required by this Agreement to be performed, satisfied or complied with by the
      Company at or prior to the Closing.

     

    (C)           
      Delivery of
      Transaction Documents.  The Transaction Documents shall have
      been duly executed and delivered by the Company to the Purchaser.

     

    Section
      6.              
Brokers and
      Finders.

     

    The
      Company shall not be obligated to pay any commission, brokerage fee or finder’s
      fee based on any alleged agreement or understanding between Purchaser and a
      third person in respect of the transactions contemplated
      hereby.  Purchaser hereby agrees to indemnify the Company against any
      claim by any third person for any commission, brokerage or finder's fee or
      other
      payment with respect to this Agreement or the transactions contemplated hereby
      based on any alleged agreement or understanding between Purchaser and such
      third
      person, whether express or implied from the actions of Purchaser.

    

    Section
      7.             
 Indemnification.

    

    Purchaser
      hereby agrees to indemnify
      and defend (with counsel acceptable to the Company) the Company and its
      officers, directors, employees and agents and hold them harmless from and
      against any and all liability, loss, damage, cost or expense, including costs
      and reasonable attorneys’ fees, incurred on account of or arising
      from:

    

    (i)           
      Any breach of or inaccuracy in Purchaser’s representations, warranties or
      agreements herein or in the Financing Documents; and

    

    (ii)           Any
      action, suit or proceeding based on a claim that any of Purchaser’s
      representations and warranties in the Financing Documents were inaccurate or
      misleading, or otherwise cause for obtaining damages or redress from the Company
      or any officer, director, employee or agent of the Company under the Securities
      Act.

     

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

    Section
      8.               Successors and
      Assigns.

     

    This
      Agreement shall bind and inure to the benefit of the Company, Purchaser and
      their respective successors and assigns.

     

    Section
      9.               Entire
      Agreement.

     

    This
      Agreement and the other writings and agreements referred to in this Agreement
      or
      delivered pursuant to this Agreement contain the entire understanding of the
      parties with respect to the subject matter hereof and supersedes all prior
      agreements and understandings among the parties with respect
      thereto.

     

    Section
      10.            Notices.

     

    All
      notices, demands and requests of any kind to be delivered to any party in
      connection with this Agreement shall be in writing and shall be deemed to have
      been duly given if personally delivered or if sent by internationally-recognized
      overnight courier or by registered or certified mail, return receipt requested
      and postage prepaid, addressed as follows:

     

    if
      to the
      Company, to:

     

    Bullion
      River Gold Corp.

    3500
      Lakeside Court, Suite 200

    Reno,
      Nevada 89509

    Tel.
      No.:
      (775) 324-4881

    Fax
      No.:  (775) 324-7893

    Attention:
      Peter M. Kuhn, CEO

    

    with
      a
      copy to:

    

    Richardson
      & Patel LLP

    10900
      Wilshire Blvd., Suite 500

    Los
      Angeles, CA 90024

    Tel.
      No.:
      (310) 208-1182

    Fax
      No.:
      (310) 208-1154

    Attention:
      Jennifer A. Post, Esq.

    

    if
      to
      Purchaser, to:

     

    the
      address of Purchaser set forth on the signature page hereto;

    

    or
      to
      such other address as the party to whom notice is to be given may have furnished
      to the other parties to this Agreement in writing in accordance with the
      provisions of this Section
      10.  Any such notice or communication shall be deemed to have
      been received (i) in the case of personal delivery, on the date of such
      delivery, (ii) in the case of internationally-recognized overnight courier,
      on
      the next business day after the date when sent and (iii) in the case of mailing,
      on the third business day following that on which the piece of mail containing
      such communication is posted.

     

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    Section
      11.            Amendments.

     

    This
      Agreement may not be modified or amended, or any of the provisions of this
      Agreement waived, except by written agreement of the Company and
      Purchaser.

     

    Section
      12.            Governing  Law;
      Waiver of Jury Trial.

     

    All
      questions concerning the construction, interpretation and validity of this
      Agreement shall be governed by and construed and enforced in accordance with
      the
      domestic laws of Nevada without giving effect to any choice or conflict of
      law
      provision or rule (whether in the State of Nevada or any other jurisdiction)
      that would cause the application of the laws of any jurisdiction other than
      the
      State of Nevada.  In furtherance of the foregoing, the internal law of
      the State of Nevada will control the interpretation and construction of this
      Agreement, even if under such jurisdiction's choice of law or conflict of law
      analysis, the substantive law of some other jurisdiction would ordinarily or
      necessarily apply.

     

    BECAUSE
      DISPUTES ARISING IN CONNECTION WITH COMPLEX FINANCIAL TRANSACTIONS ARE MOST
      QUICKLY AND ECONOMICALLY RESOLVED BY AN EXPERIENCED AND EXPERT PERSON AND THE
      PARTIES WISH APPLICABLE LAWS TO APPLY (RATHER THAN ARBITRATION RULES), THE
      PARTIES DESIRE THAT THEIR DISPUTES BE RESOLVED BY A JUDGE APPLYING SUCH
      APPLICABLE LAWS.  THEREFORE, TO ACHIEVE THE BEST COMBINATION OF THE
      BENEFITS OF THE JUDICIAL SYSTEM AND OF ARBITRATION, THE PARTIES HERETO WAIVE
      ALL
      RIGHT TO TRIAL BY JURY IN ANY ACTION, SUIT OR PROCEEDING BROUGHT TO ENFORCE
      OR
      DEFEND ANY RIGHTS OR REMEDIES UNDER THIS AGREEMENT OR ANY DOCUMENTS RELATED
      HERETO.

     

    Section
      13.            Submission to
      Jurisdiction.

     

    Any
      legal
      action or proceeding with respect to this Agreement or the other Financing
      Documents may be brought in the courts of the State of California and the United
      States of America located in the City of Los Angeles, California, U.S.A. and,
      by
      execution and delivery of this Agreement, the Company hereby accepts for itself
      and in respect of its property, generally and unconditionally, the jurisdiction
      of the aforesaid courts.  Purchaser hereby irrevocably waives, in
      connection with any such action or proceeding, any objection, including, without
      limitation, any objection to the venue or based on the grounds of forum non
      conveniens, which it may now or hereafter have to the bringing of any such
      action or proceeding in such respective jurisdictions.  Purchaser
      hereby irrevocably consents to the service of process of any of the
      aforementioned courts in any such action or proceeding by the mailing of copies
      thereof by registered or certified mail, postage prepaid, to it at its address
      as set forth herein.

     

    Section
      14.            Severability.

     

    It
      is the
      desire and intent of the parties that the provisions of this Agreement be
      enforced to the fullest extent permissible under the law and public policies
      applied in each jurisdiction in which enforcement is
      sought.  Accordingly, in the event that any provision of this
      Agreement would be held in any jurisdiction to be invalid, prohibited or
      unenforceable for any reason, such provision, as to such jurisdiction, shall
      be
      ineffective, without invalidating the remaining provisions of this Agreement
      or
      affecting the validity or enforceability of such provision in any
      jurisdiction.  Notwithstanding the foregoing, if such provision could
      be more narrowly drawn so as not to be invalid, prohibited or unenforceable
      in
      such jurisdiction, it shall, as to such jurisdiction, be so narrowly drawn,
      without invalidating the remaining provisions of this Agreement or affecting
      the
      validity or enforceability of such provision in any other
      jurisdiction.

     

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    Section
      15.            Independence of
      Agreements,
      Covenants, Representations and Warranties.

     

    All
      agreements and covenants hereunder shall be given independent effect so that
      if
      a certain action or condition constitutes a default under a certain agreement
      or
      covenant, the fact that such action or condition is permitted by another
      agreement or covenant shall not affect the occurrence of such default, unless
      expressly permitted under an exception to such covenant.  In addition,
      all representations and warranties hereunder shall be given independent effect
      so that if a particular representation or warranty proves to be incorrect or
      is
      breached, the fact that another representation or warranty concerning the same
      or similar subject matter is correct or is not breached will not affect the
      incorrectness of or a breach of a representation and warranty
      hereunder.  The exhibit and any schedules attached hereto are hereby
      made part of this Agreement in all respects.

     

    Section
      16.            Counterparts.

     

    This
      Agreement may be executed in any number of counterparts, and each such
      counterpart of this Agreement shall be deemed to be an original instrument,
      but
      all such counterparts together shall constitute but one
      agreement.  Facsimile counterpart signatures to this Agreement shall
      be acceptable and binding.

     

    Section
      17.            Headings.

     

    The
      section and paragraph headings contained in this Agreement are for reference
      purposes only and shall not affect in any way the meaning or interpretation
      of
      this Agreement.

     

    Section
      18.            Expenses.

     

    Purchaser
      shall pay Purchaser’s own fees and expenses incurred in connection with the
      preparation, negotiation, execution and delivery of the Financing
      Documents.

     

    Section
      19.            Preparation of
      Agreement.

     

    The
      Company, or its counsel, prepared this Agreement the Subscription Application
      and the Warrant solely on the Company’s behalf.  Each party to this
      Agreement acknowledges that:  (i) the party had the advice of, or
      sufficient opportunity to obtain the advice of, legal counsel separate and
      independent of legal counsel for any other party hereto; (ii) the terms of
      the
      transactions contemplated by this Agreement are fair and reasonable to such
      party; and (iii) such party has voluntarily entered into the transactions
      contemplated by this Agreement without duress or coercion.  Each party
      further acknowledges that such party was not represented by the legal counsel
      of
      any other party hereto in connection with the transactions contemplated by
      this
      Agreement, nor was he or it under any belief or understanding that such legal
      counsel was representing his or its interests.  Each party agrees that
      no conflict, omission or ambiguity in this Agreement, or the interpretation
      thereof, shall be presumed, implied or otherwise construed against any other
      party to this Agreement on the basis that such party was responsible for
      drafting this Agreement.

    

     

    *    *    *    *    *

     

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

    IN
      WITNESS WHEREOF, each of
      the undersigned has duly executed this Unit Purchase Agreement as of January
      ___, 2008.

     

    
    

    
      	
               

               

               

               

               

               

               

               

               

               

              PURCHASER:
                

               

              __________________________________

              Name
                of Purchaser (Individual or

              Institution)

               

               

              __________________________________

              Title
                of Individual representing 

              Purchaser
                (if an Institution)

               

               

               

               

               

               

               

               

               

               

               

              Purchase
                Price $______________________

              

              Number
                of
                Units:_____________________

            	
              COMPANY:

              

              BULLION
                RIVER GOLD CORP.

              

              

              By:_________________________________

              Name:  Peter
                M. Kuhn

              Title:  Chief
                Executive Officer

               

               

              
                ________________________________

                Name
                  of Individual representing 

                Purchaser
                  (if an Institution) 

              

               

               

              
                ________________________________

                Signature
                  of Individual Purchaser or 

              

              
                Individual
                  representing Purchaser 

              

               

               

              
                Address:

                ________________________________

                 

                Telephone:

                ________________________________

                 

                Facsimile:

                ________________________________

              

               

            

    

    
                                                                  
        

    

     

     

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

     

    EXHIBIT
      A

    

    WARRANT

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