Document:

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                                                                   Exhibit 10.30

                         EXECUTIVE EMPLOYMENT AGREEMENT

THIS EXECUTIVE EMPLOYMENT AGREEMENT (the "Agreement"), is made and entered into
as of the 18th day of April, 2005 by and between NORD RESOURCES CORPORATION, a
Delaware corporation (the "Company") and JOHN T. PERRY, an adult individual
residing in the county of Pima, State of Arizona (the "Executive").

                                   WITNESSETH:

     WHEREAS, the Executive has been serving as the Senior Vice President and
Chief Financial Officer of the Company, the parties hereto desire to continue
such employment, and the Company and Executive desire to enter into this
Agreement memorializing the terms of such employment, in each case subject to
the terms and conditions set forth herein.

     NOW, THEREFORE, in consideration of the premises and the mutual promises
and agreements herein contained, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties,
intending to be legally bound, hereby agree as follows:

SECTION 1. DEFINITIONS.

     Unless otherwise defined herein, the following terms shall have the
meanings indicated below:

     (a)  "Accrued Obligations" shall mean (i) all accrued but unpaid Base
          Salary through the date of termination of Executive's employment, (ii)
          any unpaid bonus in respect of any completed fiscal year which has
          been declared by the Board prior to the date of termination of
          Executive's employment, or (iii) any unpaid or unreimbursed permitted
          expenses incurred in accordance with Section 6 below.

     (b)  "Affiliate" means any corporation which controls, is controlled by or
          is under common control with, the Company.

     (c)  "Base Salary" shall mean the salary provided for in 4(a) below
          including, without limitation, any increased salary granted to
          Executive pursuant to 4(a) below.

     (d)  "Board" shall mean the Board of Directors of the Company.

     (e)  "Cause" shall mean (i) Executive's failure (except where due to a
          Disability), neglect or refusal to perform his duties hereunder for a
          period of forty-five (45) consecutive days, or ninety (90) days within
          a single twelve-month period; (ii) any willful or intentional act of
          Executive that has the effect of injuring the reputation or business
          of the Company or any Affiliate in any material respect; (iii) any
          determination or finding by the Board of consistent drunkenness by
          Executive, or his illegal use of narcotics, which is or could
          reasonably be expected to become, materially injurious to the
          reputation or business of the

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          Company or any Affiliate, or which impairs, or could reasonably be
          expected to impair, his judgment or the performance of Executive's
          duties hereunder; (iv) a conviction of, or plea of guilty or nolo
          contendere to, the commission of a felony by Executive; (v) the
          commission by Executive of any act of fraud or embezzlement against
          the Company or any Affiliate; or (vi) Executive's breach of any
          material provision of this Agreement and/or the Confidentiality
          Agreement.

     (f)  "Commencement Date" shall mean April 1, 2005.

     (g)  "Confidentiality Agreement" shall mean that certain Confidentiality,
          Noncompetition and Nonsolicitation Agreement, in the form attached
          hereto as Exhibit A.

     (h)  "Disability" shall mean any physical or mental disability or infirmity
          that prevents the performance of Executive's duties for a period of
          (i) ninety (90) consecutive days or (ii) one hundred twenty (120)
          non-consecutive days during any twelve (12) month period. Such
          Disability will entitle the Company to terminate Executive's
          employment immediately by written notice. Any question as to the
          existence, extent or potentiality of Executive's Disability upon which
          Executive and the Company cannot agree shall be determined by a
          qualified, independent physician selected by the Company and approved
          by Executive (which approval shall not be unreasonably withheld). The
          determination of any such physician shall be final and conclusive for
          all purposes of this Agreement.

     (i)  "Good Reason" shall mean, without Executive's written consent (which
          may be given or withheld in his sole discretion (i) a material breach
          of this Agreement by the Company which is not cured within sixty (60)
          days of the date of notice to the Company (as described herein); (ii)
          if the Company (A) requires Executive to relocate his office to a
          location outside of Pima County, Arizona and more than 25 miles from
          Pima County, Arizona; or (B) reassigns Executive to a position of
          lesser rank, or status or reduces or materially changes Executive's
          responsibilities to the Company, or requires that Executive report to
          or take direction from anyone other than the Board of Directors of
          Company; or (iii) any reduction in the Base Salary, any cash bonus or
          equity-based. compensation plan previously adopted, implemented or in
          effect at the Company; and any reduction in the employee benefits
          enjoyed by Executive, to the extent such reduction in benefits is not
          borne equally by all employees who enjoy such benefits at the time or
          thereafter.

     (j)  "Term of Employment" shall mean the period specified in Section 2
          below.

SECTION 2. ACCEPTANCE AND TERM OF EMPLOYMENT.

     The Company agrees to employ Executive, and Executive agrees to serve the
     Company, on the terms and conditions set forth herein. Unless sooner
     terminated as provided in Section 7 hereof, the Term of Employment shall
     commence on the Commencement Date and shall continue for the period ending
     one day prior to the

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     second (2nd) anniversary of the Commencement Date. Subject to Section 7
     hereof, the Term of Employment shall be extended automatically, without
     further action by either party, for successive periods of one additional
     year, on the second (2nd) anniversary of the Commencement Date and on each
     succeeding anniversary date thereafter unless, not later than ninety (90)
     days prior to the end of the Term of Employment (including any prior
     extension thereof), either the Company or Executive shall have notified the
     other in writing of his or its intention not to renew this Agreement. Upon
     notice of non-extension, Executive's employment hereunder shall terminate
     at the close of business on the last day of the Term of Employment.

SECTION 3. POSITION, DUTIES AND RESPONSIBILITIES, PLACE OF PERFORMANCE.

     (a)  During the Term of Employment, Executive shall be employed and serve
          as the Senior Vice President and Chief Financial Officer of the
          Company, and shall have such duties as are typically associated with
          such title. During the Term of Employment, Executive shall report
          directly to the President.

     (b)  Executive's duties shall be comprised of such matters as are
          customarily performed by someone serving in his position for a
          publicly-traded holding including such matters as may be reasonably
          directed by the Chief Executive Officer, President or Board of the
          Company from time to time during the Term of Employment.

     (c)  Executive shall devote his full business time, attention, skill and
          best efforts to the performance of his duties under this Agreement and
          shall not engage in any other business or occupation during the Term
          of Employment (provided, however, that it is anticipated that
          Executive may enter into individual agreements with companies
          affiliated with the Company with the Company's consent).
          Notwithstanding the foregoing, nothing herein shall preclude Executive
          from (i) serving, as a member of the board of directors or advisory
          boards (or their equivalents in the case of a non-corporate entity) of
          non-competing businesses and charitable organizations, (ii) engaging
          in charitable activities and community affairs, and (iii) managing his
          personal investments and affairs; provided, however, that the
          activities set out in clauses (i), (ii) and (iii) above shall be
          limited by Executive so as not materially to interfere, individually
          or in the aggregate, with the performance of his duties and
          responsibilities hereunder, or to compete, directly or indirectly with
          the business of the Company or any Affiliate.

     (d)  Executive's principal place of employment shall be in Pima County,
          Arizona, although Executive understands and agrees that he will be
          required to travel from time to time for business reasons (including
          as reasonably required to the Company's principal place of business in
          Dragoon, AZ, or such other business locations as may be established by
          the Company from time to time during the Term of Employment).

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SECTION 4. COMPENSATION.

     During the Term of Employment, Executive shall be entitled to the following
     compensation:

     (a)  Base Salary. Executive shall be paid an annualized Base Salary,
          payable in accordance with the regular payroll practices of the
          Company, of One Hundred and Seventy-five Thousand Dollars ($175,000),
          reviewed bi-annually with such increases, if any, as may be approved
          in writing by, and at the discretion of, the Board from time to time
          during the Term of Employment. The Board shall review Executive's Base
          Salary at least twice annually to determine increases, but in no event
          decreases, in such Base Salary. The commencement of payment of the
          Base Salary to Executive is contingent upon the Corporation's receipt
          of at least $10 million in financing and Executive shall be
          compensated pursuant to paragraph (b) "Interim Compensation" below.

     (b)  Interim Compensation. Until such time as the Company completes a
          financing of at least $10,000,000 (Ten Million Dollars), Executive
          shall be compensated pursuant to the Unanimous Consent of the Board of
          Directors dated April 1, 2005 which reads as follows: "In lieu of cash
          compensation during the interim period between this date and the
          Corporation's receipt of financing, compensation will be in the form
          of Common Shares of the Corporation issued at the rate of 20,000
          shares per month on a pro-rata basis."

     (c)  Bonuses. From time to time during the Term of Employment, the Board in
          its sole discretion may, but shall not be obligated to, award
          financial bonuses to Executive to reward exemplary service on behalf
          of the Company. Any such award shall be declared by Board
          authorization, which shall set the amount, timing and manner of
          payment of any such bonuses.

     (d)  Incentive Stock Options. At such time as the Company shall adopt a
          formal Incentive Stock Option Plan, the Executive shall be entitled to
          participate therein.

SECTION 5. EMPLOYEE BENEFITS.

     During the Term of Employment, Executive shall be entitled to participate
     in all health, insurance, disability insurance, retirement and other
     benefits provided to other senior executives of the Company pursuant to
     Board authorization. Executive shall also be entitled to the same number of
     holidays, vacation, sick days and other benefits as are generally allowed
     to senior executives of the Company in accordance with Company policies in
     effect from time to time.

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SECTION 6. REIMBURSEMENT OF BUSINESS EXPENSES.

     Executive is authorized to incur reasonable expenses in carrying out his
     duties and responsibilities under this Agreement and the Company shall
     promptly reimburse him for all business expenses incurred in connection
     with carrying out the business of the Company, subject to documentation in
     accordance with the Company's policies as then in effect. Unless otherwise
     agreed in advance by the Company, all domestic travel less than three hours
     in duration for Company business shall be done at coach rates. Domestic
     travel three hours or more in duration and international travel may, at the
     Executive's discretion, be at business or first class rates, whichever
     class is available.

SECTION 7. TERMINATION OF EMPLOYMENT.

     (a)  General. The Term of Employment shall terminate earlier than as
          provided in Section 2 hereof upon the earliest to occur of: (i) a
          termination of Executive's employment due to Executive's death, (ii) a
          termination of Executive's employment by reason of a Disability, (iii)
          a termination by the Company with or without Cause, or (iv) a
          termination by Executive with or without Good Reason. In the event of
          termination of Executive's employment for any reason, at the Company's
          request, the Executive shall resign from the Board of Directors of the
          Company to the extent he is then serving on it.

     (b)  Termination Due to Death or Disability. In the event Executive's
          employment is terminated due to his death or Disability, Executive,
          his estate or his beneficiaries, as the case may be, shall be entitled
          to the Accrued Obligations, if any.

     (c)  Termination by the Company for Cause.

          (i)  A termination for Cause shall not take effect unless the
               provisions of this subsection (i) are complied with. Executive
               shall be given not less than fifteen (15) days written notice by
               the Board of the intention to terminate him for Cause, such
               notice to state in reasonable detail the particular act or acts
               or failure or failures to act that constitute the grounds on
               which the proposed termination for Cause is based. Executive
               shall have fifteen (15) days after the date that such written
               notice has been given to Executive in which to cure such conduct,
               to the extent such cure is possible. If he fails to cure such
               conduct, the termination shall be effective on the date
               immediately following the expiration of the ten (10) day notice
               period. If no such cure is reasonably possible by Executive
               (i.e., in the case of a breach of the Confidentiality Agreement),
               then such termination shall be effective immediately upon the
               receipt of notice by the Executive.

          (ii) In the event the Company terminates Executive's employment for
               Cause, he shall be entitled only to the Accrued Obligations, and
               the Company shall have no further liability to the Executive
               hereunder.

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     (d)  Termination By The Company Without Cause. The Company may terminate
          Executive's employment without Cause, effective upon Executive's
          receipt of written notice of such termination. In the event
          Executive's employment is terminated by the Company without Cause
          (other than due to death or Disability), Executive shall be entitled
          to:

          (i)  the Accrued Obligations, if any;

          (ii) continuation of Base Salary for the greater of: (A) the remainder
               of the Term of Employment (assuming (I) no termination of
               Executive's employment had occurred, and (II) no additional
               renewal of the Term of Employment occurs following the date of
               termination) and (B) twelve (12) months (the "Severance Term"),
               payable in accordance with the Company's then-existing payroll
               practices; and

          (iii) should Executive be eligible for and elect to continue his
               health insurance pursuant to the Consolidated Omnibus Budget
               Reconciliation Act of 1985, as amended ("COBRA") following the
               date of such termination, payment of COBRA premiums until the
               earlier of: (A) expiration of the Severance Term, or (b) the date
               Executive commences employment with any person or entity and,
               thus, is eligible for health insurance benefits at least as
               favorable as those provided by the Company; and

          (iv) Immediate vesting and/or issuance of all unvested stock options,
               rights, grants or other equity.

     (e)  Termination by the Executive for Good Reason. Executive may terminate
          his employment for Good Reason by providing the Company thirty (30)
          days' written notice, setting forth in reasonable specificity the
          event(s) constituting Good Reason, within sixty (60) days of the
          occurrence of such event. During such thirty (30) day notice period,
          the Company shall have a cure right (if curable), and if not cured
          within such period, Executive's termination will be effective upon the
          expiration of such cure period (and, if not curable, then Executive's
          termination shall be effective as of the date of the Company's receipt
          of his notice therefor), and Executive shall be entitled to the same
          payments and benefits as provided in Section 4(d) above for a
          termination without Cause.

     (f)  Termination by Executive Without Good Reason. Executive may terminate
          his employment without Good Reason by providing the Company thirty
          (30) days' written notice in advance of such termination. In the event
          of a termination of employment by Executive under this Section 4(f),
          Executive shall have the same entitlements as are provided in Section
          4(c)(ii) above for a termination by the Company for Cause. In the
          event of termination of Executive' s employment under this subsection
          (f), the Company may, in its sole and absolute discretion, at

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          any time after notice of termination has been given by Executive,
          terminate this Agreement, provided that the Company shall continue to
          pay to Executive his then current Base Salary and continue benefits
          provided pursuant to (c)5 for the duration of the unexpired notice
          period.

     (g)  Termination Following a Change in Control.

          (i)  If at anytime following a Change in Control the Company shall
               elect to terminate Executive's employment for any reason other
               than those specified in Sections 7(b) or 7(c), it shall provide
               written notice of such termination to the Executive. The
               Executive may also terminate his employment with the Company
               following a Change in Control by delivering written notice to the
               Company within sixty (60) days following the occurrence of such
               Change in Control. In either case, but subject to the execution
               and delivery by Executive and the Company of a mutual and general
               release of claims, the Company shall provide to Executive the
               following:

               (A)  the Accrued Obligations, payable in a lump sum within 60
                    (sixty) days following termination of employment;

               (B)  an amount equal to three times his Base Salary, payable in a
                    lump sum within 60 days following termination of employment;

               (C)  if the Executive elects continuation of coverage of medical
                    and dental benefits under the Consolidated Omnibus Budget
                    Reconciliation Act of 1985 (COBRA), the Company will pay
                    100% such premiums for the first 18 months of coverage; and

               (D)  payment of premiums necessary for continuation of any
                    Supplemental Disability Policy or, at the election of the
                    Company, a lump sum amount equal to the aggregate premiums
                    to be paid thereon, in either case for a period of 18 months
                    following the effective date of termination; and

               (E)  Immediate vesting and/or issuance of all unvested stock
                    options, grants, rights or other equity.

          Other than payment of such amounts and vesting of stock options,
          grants, rights or other equity, the Company shall have no further
          obligations under this Agreement.

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          (ii) For purposes of this Agreement, a "Change in Control" shall be
               deemed to have occurred if:

               (A)  any "person," as such term is used in Sections 13(d) and
                    14(d) of the Securities Exchange Act of 1934 (the "Exchange
                    Act") (other than the Company, any trustee or other
                    fiduciary holding securities under an employee benefit plan
                    of the Company, or any corporation owned directly or
                    indirectly by the shareholders of the Company in
                    substantially the same proportion as the ownership of stock
                    of the Company) is or becomes the "beneficial owner" (as
                    defined in Rule 13d-3 under the Exchange Act), directly or
                    indirectly, of securities of the Company representing more
                    than 50% of the combined voting power of the Company's then
                    outstanding securities; or

               (B)  individuals who, as of the Effective Date, constituting
                    then-presiding Board of Directors (the "Incumbent Board"),
                    cease for any reason to constitute at least a majority of
                    the Board, provided that any person becoming a director
                    subsequent to the date hereof whose election, or nomination
                    for election by the Company's shareholders, was approved by
                    a vote of at least a majority of the directors then
                    comprising the then Incumbent Board (other than an election
                    or nomination of an individual whose initial assumption of
                    office is in connection with an actual or threatened
                    election contest relating to the election of the directors
                    of the Company, as such terms are used in Rule 14a-11 of
                    Regulation 14A under the Exchange Act) shall be, for
                    purposes of this Agreement, considered as though such person
                    were a member of the Incumbent Board; or

               (C)  a merger or consolidation of the Company with any other
                    corporation occurs, other than (I) a merger or consolidation
                    which would result in the voting securities of the Company
                    outstanding immediately prior thereto continuing to
                    represent (either by remaining outstanding or by being
                    converted into voting securities of the surviving entity)
                    more than 50% of the combined voting power of the voting
                    securities of the Company or such surviving entity
                    outstanding immediately after such merger or consolidation
                    or (II) a merger or consolidation effected to implement a
                    recapitalization of the Company (or similar transaction) in
                    which no "person" (as hereinabove defined) acquires more
                    than 50% of the combined voting power of the Company's then
                    outstanding securities; or

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               (D)  the consummation of the sale or disposition by the Company
                    of all or substantially all of the Company's assets or the
                    shareholders of the Company approve a plan of complete
                    liquidation of the Company.

     (g)  No Duty to Mitigate Losses. Executive shall have no duty to find new
          employment following the termination of his employment under
          circumstances which require the Company to pay any amount to executive
          pursuant to this Section 7. Any salary or remuneration received by
          Executive from a third party for the providing of personal services
          (whether by employment or by functioning as an independent contractor)
          following the termination of his employment with the Company shall not
          reduce the Company's obligation to make a payment to Executive (or the
          amount of such payment) pursuant to the terms of said Section 7, other
          than as specifically set forth in Section 7(d)(iii) with respect to
          health insurance.

     (i)  Expiration of the Term of Employment. Notwithstanding anything herein
          to the contrary, in no event shall any termination by reason of
          expiration of the Term of Employment pursuant to Section 2 hereof
          constitute a termination without Cause hereunder and, upon such
          expiration, Executive shall have the same entitlements as are provided
          in Section 4(c)(ii) above for a termination by the Company for Cause.
          Notwithstanding the foregoing, in no event shall a notice of
          nonrenewal of the Term of Employment by Executive pursuant to Section
          2 hereof in and of itself constitute Cause.

     (h)  Release. Notwithstanding any provision herein to the contrary, the
          Company may require, prior to payment of any amount or provision of
          any benefit pursuant to Sections 7 (d) or 7(e) or 7(g) of this
          Agreement, that Executive execute a complete and mutual release of the
          Company and its affiliates and related parties in such form as is
          reasonably required by the Company, and any waiting periods contained
          in such release shall have expired.

SECTION 8. CONFIDENTIALITY AGREEMENT; ASSIGNMENT OF INTELLECTUAL PROPERTY
RIGHTS.

     (a)  As a condition to his employment pursuant to this Agreement, Executive
          shall sign the Confidentiality Agreement. Executive hereby represents
          and warrants to the Company that he will comply with all obligations
          under the Confidentiality Agreement and further agrees that the
          provisions of the Confidentiality Agreement shall survive any
          termination of this Agreement or of Executive's employment or
          subsequent service relationship with the Company, if any.

     (b)  Executive agrees that during the Employment Term he will promptly
          disclose, in writing, all information, ideas, concepts, improvements,
          discoveries and inventions, whether patentable or not, and whether or
          not reduced to practice, which are conceived, developed, made or
          acquired by the Company, either individually, or jointly with others,
          and which relate to the business, products or

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          services of the Company, or any of its subsidiaries or affiliates,
          irrespective of whether such information, idea, concept, improvement,
          discovery or invention was conceived, developed, discovered or
          acquired by Executive on the job, or elsewhere (collectively, the
          "Inventions"). The Company and Executive have agreed as follows
          regarding the Inventions:

               (i)  All Inventions are, and shall be, the property of the
                    Company. In this context, all drawings, memoranda, notes,
                    records, files, correspondence, manuals, models,
                    specifications, computer programs, maps and all other
                    writings, or materials of any time embodying any such
                    Inventions are and shall be the sole and exclusive property
                    of the Company.

               (ii) Executive hereby specifically sells, assigns and transfers
                    to the Company all of his worldwide right, title and
                    interest in and to all such Inventions, and any United
                    States or foreign applications for patents, inventor's
                    certificates or other industrial rights that may be filed
                    thereon, including divisions, continuations,
                    continuations-in-part, reissues and/or extensions thereof,
                    and applications for registration of any names and marks
                    included therewith. Both during the Employment Term and
                    thereafter, Executive shall assist the Company and its
                    nominees at all times in the protection of such Inventions,
                    both in the United States and all foreign countries,
                    including but not limited to, the execution of all lawful
                    oaths and all assignment documents, not inconsistent with
                    this Agreement, requested by the Company, or its nominee in
                    connection with the preparation, prosecution, issuance or
                    enforcement of any applications for United States or foreign
                    letters patent, including divisions, continuations,
                    continuations-in-part, reissue, and/or extensions thereof,
                    and any application for the registration of names and marks
                    included therewith.

               (iii) Moreover, if during the Employment Term, Executive creates
                    any original work of authorship which is the subject matter
                    of copyright relating to the Company's business, products,
                    or services, whether such work is created solely by
                    Executive or jointly with others, the Company shall be
                    deemed the author of such work if the work is prepared by
                    Executive in the scope of his employment; or, if the work is
                    not prepared by Executive within the scope of his
                    employment, but is specifically ordered by the Company as a
                    contribution to a collective work, as a part of a motion
                    picture or other audiovisual work, as a translation, as a
                    supplementary work, as a compilation or as an instructional
                    text, then the work shall be considered to be a work made
                    for hire and the Company shall be the author of the work. In
                    the event such work is neither prepared by the Executive
                    within the scope of his employment or is not a

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                    work specially ordered and deemed to be a work made for
                    hire, then Executive hereby agrees to assign, and by these
                    presents, does assign, to the Company an undivided one-half
                    interest in and to all of Executive's worldwide right, title
                    and interest in and to the work and all rights or copyright
                    therein, including but not limited to, the execution of all
                    formal assignment documents requested by the Company or its
                    nominee, not inconsistent with this Agreement, and the
                    execution of all lawful oaths and applications for
                    registration of copyright in the United States and foreign
                    countries.

SECTION 9. REPRESENTATIONS, WARRANTIES AND COVENANTS OF EXECUTIVE.

     Executive represents and covenants to the Company as follows:

     (a)  Executive is entering into this Agreement voluntarily and that his
          employment hereunder and compliance with the terms and conditions
          hereof will not conflict with or result in the breach by him of any
          agreement or understanding to which he is a party or by which he may
          be bound;

     (b)  he has not, and in connection with his employment with the Company
          will not, violate any non-solicitation or other similar covenant or
          agreement by which he is or may be bound; and

     (c)  he has not, and in connection with his employment with the Company he
          will not use any confidential or proprietary information he may have
          obtained in connection with his employment by any prior employer.

SECTION 10. TAXES.

     The Company may withhold from any payments made under this Agreement all
     applicable taxes, including but not limited to income, employment and
     social insurance taxes, as required by law.

SECTION 11: EXCISE TAXES

     Anything in this Agreement to the contrary notwithstanding, if any payment
     or benefit to which the Executive is entitled from the Company (the
     "Payments," which will include the vesting of stock awards or other benefit
     or property) is more likely than not to be subject to the tax imposed by
     section 4999 of the Internal Revenue Code of 1986, as amended (or any
     successor provision to that section), the Payments shall be reduced to the
     extent required to avoid application of such tax. The Executive will be
     entitled to select the order in which Payments are to be reduced in
     accordance with the preceding sentence. Determination of whether Payments
     would result in the application of the tax imposed under Section 4999, and
     the amount of reduction that is necessary so that no such tax is applied,
     shall be made, at the Company's expense, by the independent accounting firm
     employed by the Company immediately prior to the

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     occurrence of any change in control of the Company which will result in the
     imposition of such tax.

SECTION 12. SUCCESSORS AND ASSIGNS; NO THIRD-PARTY BENEFICIARIES.

     (A)  THE COMPANY. This Agreement shall inure to the benefit of and be
          enforceable by, and may be assigned by the Company to, any purchaser
          of all or substantially all of the Company's business or assets, any
          successor to the Company or any assignee thereof (whether direct or
          indirect, by purchase, merger, consolidation or otherwise). The
          Company will require any such purchaser, successor or assignee to
          expressly assume and agree to perform this Agreement in the same
          manner and to the same extent that the Company would be required to
          perform it if no such purchase, succession or assignment had taken
          place.

     (B)  EXECUTIVE. Executive's rights and obligations under this Agreement
          shall not be transferable by Executive by assignment or otherwise,
          without the prior written consent of the Company; provided, however,
          that if Executive shall die, all amounts then payable to Executive
          hereunder shall be paid in accordance with the terms of this Agreement
          to Executive's devisee, legatee or other designee or, if there be no
          such designee, to Executive's estate.

SECTION 13. WAIVER AND AMENDMENTS.

     Any waiver, alteration, amendment or modification of any of the terms of
     this Agreement shall be valid only if made in writing and signed by the
     parties hereto; provided, however, that any such waiver, alteration,
     amendment or modification is consented to on the Company's behalf by the
     Board. No waiver by either of the parties hereto of their rights hereunder
     shall be deemed to constitute a waiver with respect to any subsequent
     occurrences or transactions hereunder unless such waiver specifically
     states that it is to be construed as a continuing waiver.

SECTION 14. SEVERABILITY..

     If any covenants or such other provisions of this Agreement are found to be
     invalid or unenforceable by a final determination of a court of competent
     jurisdiction (a) the remaining terms and provisions hereof shall be
     unimpaired and (b) the invalid or unenforceable term or provision hereof
     shall be deemed replaced by a term or provision that is valid and
     enforceable and that comes closest to expressing the intention of the
     invalid or unenforceable term or provision hereof.

SECTION 15. GOVERNING LAW; VENUE.

     This Agreement shall be governed by and construed in accordance with the
     internal laws of the State of Arizona applicable to the performance and
     enforcement of contracts made wholly within the state, without giving
     effect to the law of conflicts of laws applied thereby. In the event that
     any dispute shall occur between the parties arising out of or resulting
     from the construction, interpretation, enforcement or any other aspect of
     this

                                      -12-

<PAGE>

     Agreement, the parties hereby agree to accept the exclusive jurisdiction of
     the Courts of the State of Arizona. In the event that either party shall be
     forced to bring any legal action to protect or defend its rights hereunder,
     then the prevailing party in such proceeding shall be entitled to
     reimbursement from the non-prevailing party of all fees, costs and other
     expenses (including, without limitation, the reasonable expenses of its
     attorneys) in bringing or defending against such action..

SECTION 16. NOTICES.

     (a)  Every notice or other communication relating to this Agreement shall
          be in writing, and shall be mailed to or delivered to the party for
          whom it is intended at such address as may from time to time be
          designated by it in a notice mailed or delivered to the other party as
          herein provided, provided that, unless and until some other address be
          so designated, all notices or communications by Executive to the
          Company shall be mailed or delivered to the Company at its principal
          executive office, and all notices or communications by the Company to
          Executive may be given to Executive personally or may be mailed to
          Executive at Executive's last known address, as reflected in the
          Company's records.

     (b)  Any notice so addressed shall be deemed to be given: (i) if delivered
          by hand or sent by facsimile or e-mail (and subject to an electronic
          receipt or other proof of transmission thereof, on the date of such
          delivery or transmission; (ii) if mailed by courier or by overnight
          mail, on the first business day following the date of such mailing;
          and (iii) if mailed by registered or certified mail, on the third
          business day after the date of such mailing.

SECTION 17. SECTION HEADINGS.

          The headings of the sections and subsections of this Agreement are
          inserted for convenience only and shall not be deemed to constitute a
          part thereof, affect the meaning or interpretation of this Agreement
          or of any term or provision hereof.

SECTION 18. ENTIRE AGREEMENT.

          This Agreement, together with any exhibits attached hereto,
          constitutes the entire understanding and agreement of the parties
          hereto regarding the employment of Executive. This Agreement
          supersedes all prior negotiations, discussions, correspondence,
          communications, understandings and agreements between the parties
          relating to the subject matter of this Agreement.

SECTION 19. SURVIVAL OF OPERATIVE SECTIONs.

          Upon any termination of Executive's employment, the provisions of
          Sections 7 through 19 of this Agreement shall survive to the extent
          necessary to give effect to the provisions thereof.

                                      -13-

<PAGE>

SECTION 20. COUNTERPARTS; FACSIMILES.

          This Agreement may be executed in one or more counterparts, each of
          which shall be deemed an original, but all of which together shall
          constitute one and the same instrument. Facsimiles containing original
          signatures shall be deemed for all purposes to be originally-signed
          copies of the documents which are the subject of such facsimiles.

          IN WITNESS WHEREOF, the undersigned have executed this Agreement as of
the date and year first above written.

                                        THE COMPANY:

                                        NORD RESOURCES CORPORATION

                                        By: /s/ Erland A. Anderson
                                            ------------------------------------
                                        Name: Erland A. Anderson
                                              President and Chief Operating
                                              Officer

                                        THE EXECUTIVE:

                                        By: /s/ John T. Perry
                                            ------------------------------------
                                        Name: John T. Perry

                                      -14-<PAGE>
                                                                   EXHIBIT 10.31

EXECUTION COPY

                              SETTLEMENT AGREEMENT
                               AND GENERAL RELEASE

This SETTLEMENT AGREEMENT AND GENERAL RELEASE (the "Agreement") is entered into
as of this 22nd day of April, 2005 by and between W. Pierce Carson, an adult
individual residing in the State of New Mexico ("Carson") and Nord Resources
Corporation, a Delaware corporation (the "Company"). Carson and the Company are
hereinafter sometimes referred to as a "Party" and collectively, as the
"Parties".

                                    RECITALS

     WHEREAS, Carson was for a time employed by the Company under an employment
agreement, dated as of May 27, 1997 (the "Employment Agreement"), and that
employment terminated on or about December 2000; and

     WHEREAS, pursuant to the Employment Agreement, the Company may have been
obligated to adopt a retirement plan comparable to the retirement plan adopted
by Nord Pacific Limited (the "NPL Plan"), pursuant to which Carson was entitled
to receive retirement benefits from the Company comparable to the retirement
benefits he would receive under the NPL Plan;

     WHEREAS, a dispute has arisen between the Parties (the "Dispute") arising
out of Carson's employment with the Company and the Company's willingness to
provide benefits to Carson which are similar to those provided under the NPL
Plan; and;

     WHEREAS, the Parties now desire to enter into this Agreement to resolve the
Dispute.

     NOW, THEREFORE, in consideration of the foregoing premises, and the
promises and covenants herein contained, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
Parties, intending to be legally bound, hereby agree as follows:

1. CONSIDERATION. In consideration for Carson signing this Agreement and
complying with the promises made herein, the Company agrees to provide Carson
with the following (collectively, the "Consideration"):

     (a) RESTRICTED SHARES. On or before August 1, 2005, the Company will issue
Carson two hundred and fifty thousand (250,000) shares of restricted common
stock of the Company (the "Settlement Shares").

     (b) WARRANTS. In addition to the Shares, the Company shall issue to Carson
warrants (the "Warrants") to purchase two hundred and fifty thousand (250,000)
shares of the Company's common stock at a price of Fifty Cents ($0.50) per share
(the "Warrant Shares", and collectively with the Settlement Shares, the
"Shares"), pursuant to an warrant agreement in the form attached hereto as
Exhibit A (the "Warrant"). The

                                        1

<PAGE>

Warrants shall expire on April 22, 2008. The Shares shall have the rights and be
subject to the limitations set forth in Sections 2 and 3, and each Share shall
bear the restrictive legend set forth in Section 4 of this Agreement.

2. PIGGY-BACK REGISTRATION.

     (a) PIGGY BACK RIGHTS. If the Company proposes to file a registration
statement under the Act with respect to an offering by any person other than
Carson or the Company for is own account, then the Company shall give written
notice of such proposed filing to Carson at least ten (10) days before the
anticipated filing date, and such notice shall offer Carson the opportunity to
register such of the Shares as Carson may request. The Company shall use its
best efforts to cause the managing underwriter or underwriters of a proposed
underwritten offering to permit Carson to include such securities in such
offering on the same terms and conditions as any similar securities of the
Company included therein. Notwithstanding the foregoing, if the managing
underwriter or underwriters of such offering delivers a written opinion to the
Company that the total amount or kind of securities which Carson, the Company
and any other persons or entities intend to include in such offering would
materially and adversely affect the success or offering price of such offering,
then the amount or kind of securities to be offered for the account of Carson
shall be reduced to the extent necessary to reduce the total amount of
securities to be included in such offering to the amount recommended by such
managing underwriter. In connection with a piggy-back registration, the Company
will bear all Registration Expenses. Notwithstanding any other provision of this
Agreement, "Registrable Securities" as used in this Section 2 shall be deemed to
include the Settlement Shares, the Warrant, and the Warrant Shares. The rights
and obligations of the Parties pursuant to this Section 2 shall immediately
cease and be of no further force or effect upon the earliest of the following to
occur:

          (i) the breach or violation of any material term, representation or
warranty of this Agreement by Carson;

          (ii) the occurrence or existence of any event, condition or
circumstance involving Carson which does or will impair or restrict the ability
of Carson or any other person to distribute the Shares in accordance with the
Plan of distribution furnished by Carson for inclusion in the registration
statement; and

          (iii) the Shares are eligible for sale without restriction pursuant to
Rule 144 promulgated by the Securities and Exchange Commission as then in
effect.

     (b) REGISTRATION PROCEDURES. Whenever Carson has requested that any Shares
be registered pursuant to Section 2(a) of this Agreement, the Company will
(subject to the terms and conditions set forth herein) use its best efforts to
effect the registration and the sale of such Shares upon the terms and
conditions hereof in accordance with the intended method of disposition thereof.

                                        2

<PAGE>

The Company may require Carson to furnish to the Company such information
regarding his ownership, and the distribution, of such Shares as the Company may
from time to time reasonably request in writing. Carson agrees that he shall
execute and deliver to the Company such written undertakings as the Company and
its counsel may reasonably require in order to assure full compliance with the
relevant provisions of the Act.

     (c) REGISTRATION EXPENSES. Except as otherwise expressly provided herein,
all expenses incident to the Company's performance of or compliance with Section
2 of this Agreement, including without limitation all registration and filing
fees, fees and expenses of compliance with securities or "Blue Sky Laws"
(including reasonable fees and disbursements of counsel in connection with "Blue
Sky" qualifications of the Registrable Securities), printing expenses, messenger
and delivery expenses, internal expenses (including, without limitation, all
salaries and expenses of its officers and employees performing legal or
accounting duties), if such securities are to be listed, the fees and expenses
incurred in connection with the listing of the securities to be registered on
each securities exchange on which similar securities issued by the Company are
then listed, and fees and disbursements of counsel for the Company and its
independent certified public accountants (including the expenses of any special
audit or "comfort" letters required by or incident to such performance),
securities acts liability insurance (if the Company elects to obtain such
insurance), the reasonable fees and expenses of any special experts retained by
the Company in connection with such registration and fees and expenses of other
Persons retained by the Company (all such expenses being herein called
"Registration Expenses"), will be borne by the Company. Nothing contained in
this Agreement shall be deemed to require the Company to cause the Registrable
Securities to be rated by any rating agency or listed on any securities
exchange.

3. RESTRICTION ON TRANSFER. Carson understands and acknowledges the restrictions
limiting the transfer of the Shares and the Warrants offered hereby and to which
Carson will be bound. Carson agrees that he will not sell or attempt to sell all
or any part of the Shares or the Warrants unless and until such Shares have
first been registered under the Act, and all applicable similar state laws and
regulations, or Carson first furnishes an opinion of counsel satisfactory to the
Company and its counsel, stating that exemption from such registration
requirements are available and that the proposed sale is not, and will not place
the Company, nor any of its officers, directors or other shareholders, in
violation of any applicable federal or state securities law, or any rule or
regulation promulgated thereunder. Carson further understands and agrees that
any such transfer will also be subject to the restrictions on transfer contained
on the face, or reverse side, of any certificate issued to Carson evidencing an
ownership interest in the Company, and any other restriction imposed upon the
Shares by applicable law, contract or otherwise.

4. LEGENDS ON STOCK CERTIFICATES. Each certificate representing the Shares
shall contain the following legends on the reverse of such certificate:

     THIS SECURITY HAS NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE
     COMMISSION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR ANY

                                        3

<PAGE>

     STATE SECURITIES DEPARTMENT, IN RELIANCE UPON THE EXEMPTION FROM
     REGISTRATION PROVIDED IN SECTION 4(2) OF THE ACT AND REGULATION D
     THEREUNDER. AS SUCH, THE PURCHASE OF THIS SECURITY WAS NECESSARILY WITH THE
     INTENT OF INVESTMENT AND NOT WITH A VIEW FOR DISTRIBUTION. THEREFORE, ANY
     SUBSEQUENT TRANSFER OF THIS SECURITY OR ANY INTEREST THEREIN WILL BE
     UNLAWFUL UNLESS IT IS REGISTERED UNDER THE ACT OR UNLESS AN EXEMPTION FROM
     REGISTRATION IS AVAILABLE. FURTHERMORE, IT IS UNLAWFUL TO CONSUMMATE A SALE
     OR TRANSFER OF THIS SECURITY, OR ANY INTEREST THEREIN, WITHOUT THE OPINION
     OF COUNSEL FOR THE COMPANY THAT THE PROPOSED TRANSFER OR SALE DOES NOT
     AFFECT THE EXEMPTIONS RELIED UPON BY THE COMPANY IN ORIGINALLY DISTRIBUTING
     THIS SECURITY.

5. NO CONSIDERATION ABSENT EXECUTION OF THIS AGREEMENT. Carson and the Company
understand and agree that Carson would not receive the Consideration specified
in Section 1 above, except for his execution of this Agreement and his
fulfillment of the promises contained herein. Carson agrees and acknowledges
that he is receiving the Consideration set forth herein as consideration for his
execution and performance in full of this Agreement and that he is not otherwise
entitled to such Consideration. Carson further agrees that the Consideration is
adequate and fair consideration for all of his promises and obligations herein.
Carson agrees that other than the Consideration set forth in this Agreement, he
is not entitled to and will not receive any other monies, benefits or
compensation from the Company, including but not limited to any other wages,
salary, bonuses, stock warrants, stock options, restricted stock, vacation or
sick pay, separation pay, retirement benefits, retirement pay, or any other
benefits or compensation of any kind whatsoever.

6. RELEASE AND WAIVER. In exchange for the Consideration set forth above, and
for other good and valuable consideration, the receipt and sufficiency of all of
which are hereby acknowledged, each of the Parties hereto, for and behalf of
itself and himself and, as the case may be, their respective heirs,
representatives, assigns, predecessors, successors, employees, shareholders,
officers, directors, agents, attorneys, parent corporations, subsidiaries,
divisions, or affiliated corporations or organizations, whether previously or
hereafter affiliated in any manner (collectively the "Releasing Entities"),
hereby releases and forever discharges the other Party hereto and, as the case
may be, each of their respective heirs, representatives, assigns, predecessors,
successors, employees, shareholders, officers, directors, agents, attorneys,
parent corporations, subsidiaries, divisions, or affiliated corporations or
organizations, whether previously or hereafter affiliated in any manner
(collectively the "Released Entities") from any and all claims, demands, causes
of action, charges of discrimination, charges of wrongful termination,
obligations, damages, attorneys' fees, costs and liabilities of any nature
whatsoever, including all common law and statutory claims of race, sex, national
origin,

                                        4

<PAGE>

religion, handicap and age discrimination, whether or not now known, suspected
or claimed, which each of the Releasing Entities ever had, now has, or may claim
to have as of the date of this Agreement against the Released Entities.

7. WAIVER OF CARSON'S RIGHTS UNDER EMPLOYMENT AGREEMENT. The Parties agree that
the Employment Agreement was and remains terminated in its entirety as of the
date referenced in Section 1 of this Agreement. Carson agrees that he is not
entitled to receive, and will not claim, any damages, profits, compensation,
bonuses, benefits, vacation, stock warrants, stock options, retirement benefits
or pay, or rights other than those which are expressly set forth in this
Agreement. Carson acknowledges that the Consideration he is receiving under this
Agreement is in lieu of, and he hereby waives any other rights he may have had
under, the Employment Agreement and any other agreements, express or implied, he
may have had with the Company prior to the Effective Date. Except as otherwise
provided herein, this Agreement supersedes all rights and/or benefits Carson may
have or claim arising out of the Employment Agreement and other agreements he
may have had with the Company prior to the Effective Date.

8. COVENANT NOT TO SUE. Except to enforce this Agreement, each of the Parties
hereby promises never to file or make, or permit to be filed or made on his or
its behalf, as applicable, a lawsuit, charge, complaint, or other claim
asserting any claim or demand against any of the Released Entities which is
within the scope of the claims released in Section 6 above. This Agreement may
and shall be pleaded by any of the Released Entities as a full and complete
defense to, and may be used as a basis for an injunction against any action,
suit or other proceeding which may be instituted, prosecuted or maintained in
breach thereof. If either Party files or makes, or permits to be filed or made
on his behalf, a lawsuit, charge, complaint, appeal or other claim asserting any
claim or demand against any of the Released Entities which is within the scope
of the claims released in Section 6 above, whether or not such claim is
otherwise valid, that Released Entity shall be entitled to: (i) the full
enforcement of the terms of this Agreement; (ii) the immediate dismissal of all
claims released in Section 6 above; and (iii) the recovery of his/its attorneys'
fees and legal costs incurred in defending such claim(s).

9. NONDISCLOSURE. Carson agrees not to use, not to disclose and to keep
confidential any non-public, secret, confidential or proprietary information,
knowledge or data relating to the organization, business or finances of the
Company (including but not limited to trade secrets or confidential information
respecting inventions, products, designs, methods, know-how, techniques,
systems, processes, software programs, works of authorship, marketing and/or
sales information, sales forecasts, customer profiles, customer lists, customer
prospect information, projects, plans and proposals).

10. NO CLAIMS FILED BY EITHER PARTY. Each of the Parties hereby confirms to the
other Party, that it has not filed and will not file, or permit to be filed on
his behalf, any charge, complaint, or action in any forum or form against the
Released Entities. Nothing in this Section 10 or elsewhere in this Agreement
shall prevent any Party from filing an action in order to enforce the terms and
conditions of this Agreement.

                                        5

<PAGE>

11. NO ASSISTANCE IN ACTIONS AGAINST THE RELEASED ENTITIES. Each of the Parties
agrees that it will not advise, counsel or otherwise cooperate with or assist
current or former employees or independent contractors of the Released Entities
to pursue any type of legal action or administrative proceeding against the
Released Entities. Each Party further agrees that it will not participate,
directly or indirectly, as a witness, consultant, expert or otherwise, in any
action at law, proceeding in equity or administrative proceeding against the
Released Entities, unless requested to do so in writing by the Released Entities
or unless compelled to do so by force of law. In the event that either Party
believes it is compelled by force of law or for any other reason to testify or
otherwise participate in any action or proceeding against any of the Released
Entities, such Party agrees to provide the Released Entities with reasonable
advance notice of he subpoena, judicial notice, or other reason which he
believes compels his participation.

12. REPRESENTATIONS AND WARRANTIES.

     (a) Representations and Warranties of the Company. The Company hereby
represents and warrants to Carson, as of the date hereof, the following:

          (i)  the Company is a corporation duly organized and validly existing
               under the laws of the State of Delaware, and has full power and
               authority to enter into, execute and perform this Agreement,
               which Agreement, once executed by Company, shall be the valid and
               binding obligation of such party, enforceable against such party
               by any court of competent jurisdiction in accordance with its
               terms;

          (ii) the individuals signing this Agreement on behalf the Company are
               the duly elected executive officers of the Company so indicated,
               and have full power and authority to enter into and execute this
               Agreement for and on behalf of the Company;

          (iii) the Company is not bound by or subject to any contract,
               agreement, court order or judgment, administrative ruling, law,
               regulation or any other item which prohibits or restricts such
               party from entering into and performing this Agreement in
               accordance with its terms, or requiring the consent of any third
               party prior to the entry into or performance of this Agreement in
               accordance with its terms by such party.

     (b) Representations and Warranties of Carson. Carson hereby represents and
warrants to the Company, as of the date hereof, the following:

          (i) Carson has full power and capacity to enter into, execute and
perform this Agreement, which Agreement, once executed by Carson, shall be the
valid and binding obligation of such party, enforceable against such party by
any court of competent jurisdiction in accordance with its terms;

                                        6

<PAGE>

          (ii) Carson is not bound by or subject to any contract, agreement,
law, court order or judgment, administrative ruling, regulation or any other
item which prohibits or restricts such party from entering into and performing
this Agreement in accordance with its terms, or requiring the consent of any
third party prior to the entry into or performance of this Agreement in
accordance with its terms by such party;

          (iii) with respect to the Shares being acquired by the Carson:

               (A)  Carson is acquiring the Shares for his own account, and not
                    with a view toward the subdivision, resale, distribution, or
                    fractionalization thereof; Carson has no contract,
                    undertaking, or arrangement with any person to sell,
                    transfer, or otherwise dispose of the Shares (or any portion
                    thereof), and has no present intention to enter into any
                    such contract, undertaking, agreement or arrangement;

               (B)  the subscription for Shares by Carson hereunder is not the
                    result of any form of general solicitation or general
                    advertising;

               (C)  Carson hereby acknowledges that: (1) the offering of the
                    Shares was made only through direct, personal communication
                    between Carson and the Company; (2) Carson has had access to
                    material concerning the Company's planned business and
                    operations, which material was furnished or made available
                    to Carson by officers or representatives of the Company; (3)
                    the Company has given Carson the opportunity to ask any
                    questions and obtain all additional information desired in
                    order to verify or supplement the material so furnished; and
                    (4) Carson understands and acknowledges that the Shares are
                    subject to substantial restrictions upon the transfer
                    thereof, and that a purchaser of the Shares must be prepared
                    to bear the economic risk of such investment for an
                    indefinite period;

               (D)  Carson understands that the Shares have not been registered
                    under the Securities Act of 1933 (the "Act") or any state
                    securities act (nor passed upon by the SEC or any state
                    securities commission), and that the Shares may never be
                    registered or qualified by under federal or state securities
                    laws solely in reliance upon an available exemption from
                    such registration or qualification, and hence such Shares
                    cannot be sold unless they are subsequently so registered or
                    qualified, or are otherwise subject to any applicable
                    exemption from such registration requirements; and

                                        7

<PAGE>

               (E)  Carson further understands and acknowledges that (1) the
                    Shares have not been registered with the New Mexico
                    Securities Division under the New Mexico Securities Act, or
                    any other law or regulation, (2) may not be resold to any
                    person unless and until such registration has occurred or
                    pursuant to an exemption from registration permitted by the
                    applicable securities laws; and (3) that there are
                    substantial restrictions on transfer of the Shares, as set
                    forth by legend on the reverse side of every certificate
                    evidencing the ownership of the Shares;

          (iv) Carson is an "accredited investor" as such term is defined in
               Rule 501 of Regulation D promulgated by the Securities and
               Exchange Commission under the Act, or is a sophisticated investor
               meeting the minimum standards for an investment in an
               unregistered security under Section 12.11.12.20 of the New Mexico
               Administrative Code; and

          (v)  Carson has been advised to consult with an attorney regarding
               legal matters concerning the purchase and ownership of the
               Shares, and with a tax advisor regarding the tax consequences of
               purchasing such Shares.

13. INDEMNIFICATION. Carson recognizes that the offering of the Shares to Carson
pursuant hereto will be based upon his covenants, representations and warranties
set forth herein and in other documents relating to the subscription of the
Shares by Carson. Each Party hereby agrees to indemnify and hold harmless the
other, together with such Party's officers, directors, partners, shareholders,
employees, agents and representatives (collectively, the "Indemnified Parties"),
from and against any loss, cost, damage, claim, charge, set-off, encumbrance or
other obligation or liability (a "Liability") resulting from or arising out of
any material breach of such Party's duties, obligations or requirements
hereunder including, without limitation, any and all claims from third parties
against any Indemnified Party as a result thereof (a "Third-Party Claim"). Such
indemnification shall cover, without limitation, the right to reimbursement of
reasonable attorneys' fees, expenses and costs of litigation, arbitration,
mediation and/or settlement. Payment to the Indemnified Parties, and any of
them, shall be made upon notice to the Party or parties from whom
indemnification may properly be sought hereunder (the "Indemnifying Party") that
a Liability has arisen (or, to the extent that notice has been previously
delivered, that such Liability is continuing), together with any invoice or
other demand for payment to any Party, including an attorney defending against
or prosecuting the same, and the Indemnifying Party shall promptly furnish
payment thereon as directed in such notice.

                                        8

<PAGE>

14. NON-DISPARAGEMENT. Each Party hereby agrees with the other that it will not
in any way whatsoever or to any extent whatsoever disparage, demean, deprecate,
rebuke, condemn, belittle, slander or libel, either orally or in writing, any of
the Released Entities.

15. NO ADMISSION OF WRONGDOING. The Parties agree that this Agreement is not,
and shall not be considered as, an admission of any wrongdoing or liability on
the part of any of the Released Entities or on the part of Carson.

16. MISCELLANEOUS.

     (a) NOTICES. All notices, requests, demands and other communications
required or permitted to be given hereunder shall be in writing and shall be
deemed to have been duly given on the date of personal service or transmission
by fax if such transmission is received during the normal business hours of the
addressee, or on the first business day after sending the same by overnight
courier service or by telegram, or on the third business day after mailing the
same by first class mail, or on the day of receipt if sent by certified or
registered mail, addressed as follows:

          if to the Carson:  W. Pierce Carson
                             P.O. Box 831
                             Cedar Crest, NM 87008

          if to the Company: Nord Resources Corporation
                             3048 Seven Dash Road
                             Dragoon, AZ 85609
                             Attn: Erland A. Anderson
                                   President

or to such other address or addresses as such Parties may indicate by written
notice sent n accordance with this Section 16(a).

     (b) BINDING AGREEMENT; ASSIGNMENT. This Agreement shall constitute the
binding agreement of the Parties hereto, enforceable against each of them in
accordance with its terms. This Agreement shall inure to the benefit of each of
the Parties hereto, and their respective heirs, personal representatives,
successors and assigns. This Agreement may not be assigned by either Party,
whether by operation of law or by contract, without the prior, written consent
of the other Party hereto.

     (c) ENTIRE AGREEMENT. This Agreement constitutes the entire and final
agreement and understanding among the Parties with respect to the subject matter
hereof and the transactions contemplated hereby, and supersedes any and all
prior oral or written agreements, statements, representations, warranties or
understandings by any Party, all of which are merged herein and superseded
hereby.

                                        9

<PAGE>

     (d) GOVERNING LAW; VENUE. This Agreement shall be governed by and construed
in accordance with the internal laws of the State of Arizona applicable to the
performance and enforcement of contracts made within such state, without giving
effect to the law of conflicts of laws applied thereby. In the event that any
dispute shall occur between the Parties arising out of or resulting from the
construction, interpretation, enforcement or any other aspect of this Agreement,
the Parties hereby agree to accept the exclusive jurisdiction of the Courts of
the State of Arizona. In the event either Party shall be forced to bring any
legal action to protect or defend its rights hereunder, then the prevailing
Party in such proceeding shall be entitled to reimbursement from the
non-prevailing Party of all fees, costs and other expenses (including, without
limitation, the reasonable expenses of its attorneys) in bringing or defending
against such action.

     (e) SPECIFIC PERFORMANCE; REMEDIES CUMULATIVE. The Parties hereby agree
with each other that, in the event of any breach of this Agreement by any Party
where such breach may cause irreparable harm to any other Party, or where
monetary damages may not be sufficient or may not be adequately quantified, then
the affected Party or Parties shall be entitled to specific performance,
injunctive relief or such other equitable remedies as may be available to it,
which remedies shall be cumulative and non-exclusive, and in addition to such
other remedies as such Party may otherwise have at law or in equity.

     (f) SEVERABLE PROVISIONS. Should any provision of this Agreement, excluding
Sections 6, 7 and 8, be declared illegal or unenforceable by any court of
competent jurisdiction, and cannot be modified to be enforceable, such provision
shall immediately become null and void, leaving the remainder of this Agreement
in full force and effect. However, if any portion of Sections 6, 7 and 8 are
ruled to be unenforceable for any reason, Carson shall return to the Company all
payments that he has received pursuant to Section 1 of this Agreement.

     (g) RIGHT TO ADVICE OF COUNSEL. Carson understands that he has the right to
have this Agreement reviewed by his lawyer and acknowledges that the Company has
encouraged him to consult with his lawyer so that he is fully aware of his
rights and obligations under this Agreement. Carson acknowledges that he has
done so.

     (h). ENTIRE AGREEMENT. This Agreement sets forth the entire agreement
between the Parties with respect to any and all matters described herein, and
fully supersedes any prior agreements or understandings between the Parties with
respect to any such matters.

                                       10

<PAGE>

     IN WITNESS WHEREOF, the Parties hereto knowingly and voluntarily execute
this Agreement as of the date set forth below:

By: /s/ W. Pierce Carson                Date: April 22, 2005
    ---------------------------------
    W. Pierce Carson

NORD RESOURCES CORPORATION

By: /s/ Erland A. Anderson              Date: April 22, 2005
    ---------------------------------
    Erland A. Anderson
    President

                                       11

<PAGE>

                                    EXHIBIT A
                                       TO
                    SETTLEMENT AGREEMENT AND GENERAL RELEASE

                           NORD RESOURCES CORPORATION

                               WARRANT CERTIFICATE

No. ________                                                   _250,000 Warrants

THE WARRANTS REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED, NOR REGISTERED NOR QUALIFIED UNDER ANY STATE SECURITIES
LAWS. SUCH WARRANTS MAY NOT BE OFFERED FOR SALE, SOLD, DELIVERED AFTER SALE,
TRANSFERRED, PLEDGED, OR HYPOTHECATED UNLESS QUALIFIED AND REGISTERED UNDER
APPLICABLE STATE AND FEDERAL SECURITIES LAWS OR UNLESS, IN THE OPINION OF
COUNSEL SATISFACTORY TO NORD RESOURCES CORPORATION SUCH QUALIFICATION AND
REGISTRATION IS NOT REQUIRED PURSUANT TO AN EXEMPTION THEREFROM. NO TRANSFER OF
ANY SUCH WARRANT SHALL BE VALID OR EFFECTIVE UNTIL SUCH CONDITIONS HAVE BEEN
FULFILLED.

                            VOID AFTER APRIL 22, 2008

                                WARRANTS FOR THE
                            PURCHASE OF COMMON STOCK

THIS CERTIFIES THAT, FOR VALUE RECEIVED, W. PIERCE CARSON, an adult individual
residing in the State of New Mexico (the "Holder"), is the owner of Two Hundred
and Fifty Thousand (250,000) warrants (the "Warrants") for the purchase of up to
an aggregate of Two Hundred and Fifty Thousand (250,000) shares of
validly-issued, fully-paid and non-assessable common stock of NORD RESOURCES
CORPORATION, a corporation organized and existing under the laws of the State of
Delaware (the "Corporation"). Such purchase may be made at any time, and from
time to time, prior to 5:00 p.m. Pacific Time on the Expiration Date (as
hereinafter defined), upon the presentation and surrender of this Warrant
Certificate with a written notice signed by the Holder stating the number of
shares of Common Stock with respect to which such exercise is being made, at the
principal corporate address of the Corporation, accompanied by payment of Fifty
Cents ($0.50) per share (as may be adjusted hereunder) for each Warrant
exercised (the "Purchase Price") in lawful money of the United States of America
in cash or by official bank or certified check made payable to NORD RESOURCES
CORPORATION. The Purchase Price and the number of shares of Common Stock subject
to purchase upon the exercise of the Warrants are subject to modification or
adjustment as set forth herein. The Warrants represented by this Warrant
Certificate have been issued by the Corporation in connection with a Settlement

                                        1

<PAGE>

Agreement and General Release, dated April 22, 2005, by and between the
Corporation and the Holder.

SECTION 1. DEFINITIONS. As used herein, the following terms shall have the
     following meanings, unless the context shall otherwise require:

     (a)  "Adjusted Purchase Price" shall have the meaning given to it in
          Section 5 of this Certificate.

     (b)  "Change of Shares" shall have the meaning given to it in Section 5 of
          this Certificate.

     (c)  "Corporate Office" shall mean the office of the Corporation at which,
          at any particular time, its principal business shall be administered,
          which office is currently located at 3048 Seven Dash Road, Dragoon,
          Arizona 85609.

     (d)  "Exercise Date" shall mean, as to any Warrant, the date on which the
          Corporation shall have received both (a) this Warrant Certificate,
          together with a written notice of exercise in accordance herewith,
          duly executed by the Holder hereof, or his attorney duly authorized in
          writing, and indicating that the Holder is thereby exercising such
          Warrant(s), and (b) payment by wire transfer, or by official bank or
          certified check made payable to the Corporation, of an amount in
          lawful money of the United States of America equal to the applicable
          Purchase Price for such Warrant(s).

     (e)  "Expiration Date" shall mean 5:00 P.M. (Pacific Time) on April 22,
          2008. If such date shall be a holiday or a day on which banks are
          authorized to be closed in the State of California, then the
          Expiration Date shall mean 5:00 P.M. (Pacific Time) of the next
          consecutive day which does not fall on a holiday or a day on which
          banks are authorized to be closed in the State of California.

     (f)  "Holder" shall mean, as to any Warrant and as of any particular date,
          the person in whose name the Warrant Certificate representing such
          Warrant is registered as of that date on the Warrant Register
          maintained by the Corporation.

     (g)  "Common Stock" shall mean the common stock of the Corporation, which
          has the right to participate in the distribution of earnings and
          assets of the Corporation without limit as to amount or percentage.

     (h)  "Purchase Price" shall mean the purchase price to be paid upon
          exercise of each Warrant hereunder in accordance with the terms
          hereof, which price shall be Fifty Cents ($0.50), subject to

                                        2

<PAGE>

          adjustment from time to time pursuant to the provisions of Section 5
          hereof.

     (i)  "Registration Provisions" shall have the meaning given to it in
          Section 3(c) of this Certificate.

     (j)  "Securities Act" shall mean the Securities Act of 1933, and any
          amendments or modifications, or successor legislation, thereto
          adopted, and all regulations, rules or other laws enacted or adopted
          pursuant thereto.

     (k)  "Warrants" shall mean the Warrants represented by this Warrant
          Certificate.

     (l)  "Warrant Certificate" shall mean any certificate representing
          Warrants, and "this Certificate" shall mean they warrant Certificate
          issued to the Holder identification on the first page hereof.

     (m)  "Warrant Registry" means the official record maintained by the
          Corporation in which are recorded, with respect to each Warrant
          Certificate issued by the Corporation: the date of issuance, the name
          and address of the original Holder, the name and address of each
          subsequent transferee of such original Holder, and the number
          identifying, such Warrant Certificate.

     (n)  "Warrant Shares" shall have the meaning given to it in Section 2 of
          this Certificate.

SECTION 2. EXERCISE OF WARRANTS.

     (a)  Each Warrant evidenced hereby may be exercised by the Holder at any
          time on the Exercise Date, upon the terms and subject to the
          conditions set forth herein. A Warrant shall be deemed to have been
          exercised immediately prior to the close of business on the Exercise
          Date and the person entitled to receive shares of restricted common
          stock of the Corporation deliverable upon such exercise shall be
          treated for all purposes as the Holder of a Warrant Share upon the
          exercise of the applicable Warrant as of the close of business on the
          Exercise Date. Promptly following, and in any event within ten (10)
          business days after, the date on which the Corporation first receives
          clearance of all funds received in payment of the Purchase Price
          pursuant to this Warrant Certificate, the Corporation shall cause to
          be issued and delivered to the person or persons entitled to receive
          the same, a certificate or certificates

                                        3

<PAGE>

          evidencing the issuance to such Holder of the applicable number of
          Warrant Shares (plus a Warrant Certificate for any remaining issued
          but unexercised Warrants of the Holder). Notwithstanding the foregoing
          sentence, in the event that any registration or qualification (or
          filing for exemption from any such requirements) is required prior to
          the issuance of such Warrant Shares by the Corporation in accordance
          with Section 3(b) below, then the obligation to deliver any such
          certificates shall arise only upon completion of such requirements and
          at such time as the Corporation may lawfully do so.

     (b)  Upon the exercise of the Warrants represented hereby, if the
          Corporation so requests, the Holder shall certify to the Corporation
          that it is not exercising such Warrants with a view to distribute the
          Warrant Shares in violation of the Securities Act, and shall provide
          such other investor representations as the Corporation may require to
          confirm the ability of the Corporation to rely upon the exemption from
          registration under the Securities Act which applies to the
          distribution of Warrant Shares at the time of such distribution.

SECTION 3. RESERVATION OF SHARES; REGISTRATION; RIGHTS; TAXES; ETC.

     (a)  The Corporation covenants that it will at all times reserve and keep
          available out of its authorized Common Stock, solely for the purpose
          of issue upon the valid exercise of Warrants, such number of Warrant
          Shares as shall then be issuable upon the exercise of all Warrants
          then outstanding. The Corporation covenants that all shares of Common
          Stock which shall be issuable upon exercise of the Warrants shall, at
          the time of delivery, be duly and validly issued, fully-paid,
          non-assessable and free from all taxes, liens and charges with respect
          to the issuance thereof (other than those which the Corporation shall
          promptly pay or discharge, or any liens created thereon by the Holder
          thereof and/or any predecessor of such Holder).

     (b)  The Corporation shall not be obligated to deliver any Warrant Shares
          pursuant to the exercise of the Warrants represented hereby unless and
          until a registration statement under the Securities Act and/or under
          any applicable state securities laws and regulations, with respect to
          such securities is effective, or an exemption from such registration
          is available to the Corporation at the time of such exercise. The
          Corporation covenants that if any Warrant Shares reserved for the
          purpose of exercise of Warrants hereunder require registration with,
          or approval of, any governmental authority under

                                        4

<PAGE>

          any federal or state securities law before such securities may be
          validly issued or delivered upon such exercise, then the Corporation
          will in good faith and as expeditiously as reasonably possible,
          endeavor to secure such registration or approval. However, in the
          event that this Warrant Certificate represents Warrants which have
          been transferred by an initial holder thereof, the Warrants
          represented hereby may not be exercised by, nor shares of Common Stock
          issued to, the Holder hereof in any state in which such exercise and
          issuance would be unlawful.

     (c)  The Warrant Shares into which the Warrants represented by this
          Certificate may be exercised are included in certain registrable
          securities governed by Section 6 of that certain Subscription
          Agreement entered into between the Corporation and the original Holder
          of this Certificate (the "Registration Provisions"), which
          Registration Provisions are hereby incorporated into this Certificate
          in their entirety for the benefit of such Holder and any subsequent
          transferee thereof, to the extent such transfer has been made in
          accordance with the provisions of this Certificate and then applicable
          law. If the Corporation is properly notified of any such transfer,
          then it shall deem any references to the original Holder hereof in the
          Registration Provisions to mean and include, as applicable, such
          transferee.

     (d)  The Corporation shall pay all documentary, stamp or similar taxes and
          other governmental charges that may be imposed with respect to the
          issuance of the Warrants, or the issuance or delivery of any shares of
          Common Stock upon exercise of the Warrants; provided, however, that if
          the shares of Common Stock are to be delivered in a name other than
          the name of the Holder hereof, then no such delivery shall be made
          unless the person requesting the same has paid to the Corporation the
          amount of transfer taxes or charges incident thereto, if any.

SECTION 4. LOSS OR MUTILATION. Upon receipt by the Corporation of evidence
     satisfactory to it of the ownership of, and loss, theft, destruction or
     mutilation of, this Warrant Certificate and (in case of loss, theft or
     destruction) of indemnity satisfactory to the Corporation, and (in the case
     of mutilation) upon surrender and cancellation thereof, the Corporation
     shall execute and deliver to the Holder in lieu thereof a new Warrant
     Certificate of like tenor representing an equal aggregate number of
     Warrants as was indicated to be outstanding on the prior lost or mutilated
     Warrant Certificate (provided, however, that to the extent that any
     discrepancy may exist between the number of Warrants purported to be
     outstanding in respect of any Holder as evidenced by a Warrant Certificate
     that has been lost or mutilated and the number attributable to such Holder

                                        5

<PAGE>

     in the Warrant Registry, then the Warrant Registry shall control for all
     purposes, absent a showing of manifest error. Each Holder requesting a
     substitute Warrant Certificate due to loss, theft or destruction shall,
     prior to receiving such substitute certificate, provide an affidavit to the
     Corporation in the form prescribed thereby and signed by (and notarized on
     behalf of) such Holder. Applicants for a substitute Warrant Certificate
     shall comply with such other reasonable regulations and pay such other
     reasonable charges as the Corporation may prescribe.

SECTION 5. ADJUSTMENT OF PURCHASE PRICE AND NUMBER OF WARRANT SHARES OR
     WARRANTS.

     (a)  Subject to the provisions of this Warrant Certificate and applicable
          law, in the event the Corporation shall, at any time or from time to
          time after the date hereof, issue any shares of Common Stock as a
          stock dividend to the holders of Common Stock, or subdivide or combine
          the outstanding shares of Common Stock into a greater or lesser number
          of shares (any such sale, issuance, subdivision or combination being
          herein called a "Change of Shares"), then, and thereafter upon each
          further Change of Shares, the Purchase Price in effect immediately
          prior to such Change of Shares shall be reduced, but in no event
          increased, to a price (the "Adjusted Purchase Price") determined by
          multiplying the Purchase Price in effect immediately prior to such
          Change of Shares by a fraction, the numerator of which shall be the
          sum of the number of shares of Common Stock outstanding immediately
          prior to the issuance of such additional shares plus the number of
          shares of Common Stock which the aggregate consideration received by
          the Corporation would purchase at such Purchase Price, and the
          denominator of which shall be the sum of the number of shares of
          Common Stock outstanding immediately after the issuance of such
          additional shares. Such adjustment to the Purchase Price shall be made
          successively whenever an issuance is made after a Change of Shares has
          occurred.

          Upon each adjustment of the Purchase Price pursuant to this Section
          5(a), the total number of shares of Common Stock purchasable upon the
          exercise of each Warrant shall become (subject to the provisions
          contained in Section 5(b) hereof) such number of shares (calculated to
          the nearest tenth) purchasable at the Purchase Price in effect
          immediately prior to such adjustment multiplied by a fraction, the
          numerator of which shall be the Purchase Price in effect immediately
          prior to such adjustment and the denominator of which shall be the
          applicable Adjusted Purchase Price (rounded to the nearest whole
          number of shares).

                                       6

<PAGE>

          No fractional shares shall be issued or called for as a result of any
          adjustment made hereunder.

     (b)  The Corporation may elect, at its sole discretion, upon any adjustment
          of the Purchase Price hereunder, to adjust the number of Warrants
          outstanding, in lieu of adjustment of the number of Warrant Shares
          purchasable upon the exercise of each Warrant as hereinabove provided,
          so that each Warrant outstanding after such adjustment shall represent
          the right to purchase one Warrant Share. Each Warrant held of record
          prior to such adjustment of the number of Warrants shall become that
          number of Warrants (calculated to the nearest tenth) determined by
          multiplying the number one by a fraction, the numerator of which shall
          be the Purchase Price in effect immediately prior to such adjustment
          and the denominator of which shall be the Adjusted Purchase Price.
          Upon each adjustment of the number of Warrants pursuant to this
          Section 5(b), the Corporation shall, as promptly as practicable, cause
          to be distributed to each Holder of Warrant Certificates, on the date
          of such adjustment, Warrant Certificates evidencing the adjusted
          number of Warrants to which such Holder shall be entitled as a result
          of such adjustment or, at the sole option of the Corporation, cause to
          be distributed to such Holder in substitution and replacement for the
          Warrant Certificates held by him prior to the date of adjustment, and
          upon surrender thereof, (if required by the Corporation) new Warrant
          Certificates evidencing the aggregate number of Warrants to which such
          Holder shall be entitled after such adjustment.

     (c)  In case of any reclassification, capital reorganization or other
          change of outstanding shares of Common Stock, or in case of any
          consolidation or merger of the Corporation with or into another
          corporation (other than a consolidation or merger in which the
          Corporation is the continuing corporation and which does not result in
          any reclassification, capital reorganization or other change of
          outstanding shares of Common Stock), or in case of any sale or
          conveyance to another corporation of all, or substantially all, of the
          property of the Corporation (other than a sale/leaseback, mortgage or
          other financing transaction), the Corporation shall cause effective
          provision to be made so that each holder of a Warrant then outstanding
          shall have the right thereafter, by exercising such Warrant, to
          purchase the kind and number of shares of stock or other securities or
          property (including cash) receivable upon such reclassification,
          capital reorganization or other change, consolidation, merger, sale or
          conveyance by a holder of the number of Warrant Shares that might have
          been purchased upon exercise of such Warrant immediately prior to such

                                        7

<PAGE>

          reclassification, capital reorganization or other change,
          consolidation, merger, sale or conveyance. Any such provision shall
          include provision for adjustments that shall be as nearly equivalent
          as may be practicable to the adjustments provided for in this Section
          5 upon a Change of Shares. The Corporation shall not effect any such
          consolidation, merger or sale without the written consent of Holders
          of a majority of the Warrants then outstanding, unless prior to or
          simultaneously with the consummation thereof the successor (if other
          than the Corporation) resulting from such consolidation or merger or
          the corporation purchasing assets or other appropriate corporation or
          entity shall assume, by written instrument executed and delivered to
          the Corporation, the obligation to deliver to the holder of each
          Warrant such substitute warrants, shares of stock, securities or
          assets as, in accordance with the foregoing provisions, such Holders
          may be entitled to purchase, and the other obligations of the
          Corporation set out in this Certificate. The foregoing provisions
          shall similarly apply to successive reclassifications, capital
          reorganizations and other changes of outstanding shares of Common
          Stock and to successive consolidations, mergers, sales or conveyances.

     (d)  Irrespective of any adjustments or changes in the Purchase Price or
          the number of Warrant Shares purchasable upon exercise of the
          Warrants, all Warrant Certificates issued (whether prior to or
          subsequent to any event causing an adjustment thereof) shall continue
          to express the Purchase Price per share, and the number of shares
          purchasable thereunder as originally expressed in the Warrant
          Certificate initially issued to any Holder.

     (e)  After each adjustment of the Purchase Price pursuant to this Section
          5, the Corporation will promptly prepare a certificate signed by the
          Chairman or Chief Executive Officer, and attested by the Secretary or
          an Assistant Secretary, of the Corporation setting forth: (i) the
          Purchase Price as so adjusted, (ii) the number of shares of Common
          Stock purchasable upon exercise of each Warrant after such adjustment
          or, if the Corporation shall have elected to adjust the number of
          Warrants, the number of Warrants to which the Holder of each Warrant
          shall then be entitled, and (iii) a brief statement of the facts
          accounting for such adjustment. The Corporation will promptly cause a
          brief summary thereof to be sent by ordinary first class mail to each
          Holder of Warrants at his or her last address as it shall appear on
          the registry books of the Corporation. No failure to mail such notice
          nor any defect therein nor in the mailing thereof shall affect the
          validity thereof. The affidavit of the Secretary or an Assistant
          Secretary of the

                                        8

<PAGE>

          Corporation that such notice has been mailed shall, in the absence of
          fraud, be prima facie evidence of the facts stated therein.

     (f)  As used in this Section 5, references to "Common Stock" shall mean and
          include all of the Corporation's Common Stock authorized on the date
          hereof and shall also include any capital stock of any class of the
          Corporation thereafter authorized which shall not be limited to a
          fixed sum or percentage in respect of the rights of the holders
          thereof to participate in dividends and in the distribution of assets
          upon the voluntary liquidation, dissolution or winding up of the
          Corporation; provided, however, that "Warrant Shares" shall include
          only shares of such class designated in the Corporation's Certificate
          of Incorporation as Common Stock on the date hereof or (i) in the case
          of any reclassification, change, consolidation, merger, sale or
          conveyance of the character referred to in Section 5(c) hereof, the
          stock, securities or property provided for in such section, or (ii) in
          the case of any reclassification or change in the outstanding shares
          of Common Stock issuable upon exercise of the Warrants as a result of
          a subdivision or combination or consisting of a change in par value,
          or from par value to no par value, or from no par value to par value,
          such shares of Common Stock as so reclassified or changed.

     (g)  Any determination as to whether an adjustment in the Purchase Price in
          effect hereunder is required pursuant to this Section 5, or as to the
          amount of any such adjustment, if required, shall be binding upon all
          holders of Warrants and the Corporation if made in good faith by the
          Board of Directors of the Corporation. For purposes of this Section
          5(g), the Corporation's Board of Directors shall be deemed to have
          acted in good faith if it makes any such decision in reliance upon
          advice of its legal counsel and/or another independent professional
          hired to advise the Board on such matters.

SECTION 6. RESTRICTIVE LEGEND.

     (a)  Except as otherwise provided in this Section 6, each certificate
          evidencing the issuance of Warrant Shares (whether issued in the name
          of the original Holder of this Certificate or of any subsequent
          transferee thereof), shall be stamped or otherwise imprinted with a
          legend in substantially the following form:

               "THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN
               REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, NOR
               REGISTERED NOR

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<PAGE>

               QUALIFIED UNDER ANY STATE SECURITIES LAWS. SUCH SHARES MAY NOT BE
               OFFERED FOR SALE, SOLD, DELIVERED AFTER SALE, TRANSFERRED,
               PLEDGED, OR HYPOTHECATED UNLESS QUALIFIED AND REGISTERED UNDER
               APPLICABLE STATE AND FEDERAL SECURITIES LAWS OR UNLESS, IN THE
               OPINION OF COUNSEL SATISFACTORY TO NORD RESOURCES CORPORATION,
               SUCH QUALIFICATION AND REGISTRATION IS NOT REQUIRED. NO TRANSFER
               OF ANY SUCH SHARE SHALL BE VALID OR EFFECTIVE UNTIL SUCH
               CONDITIONS HAVE BEEN FULFILLED."

     (b)  Except as otherwise provided in this Section 6, each Warrant
          Certificate shall be stamped or otherwise imprinted with a legend in
          substantially the following form:

               "THE WARRANTS REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER
               THE SECURITIES ACT OF 1933, AS AMENDED, NOR REGISTERED NOR
               QUALIFIED UNDER ANY STATE SECURITIES LAWS. SUCH WARRANTS MAY NOT
               BE OFFERED FOR SALE, SOLD, DELIVERED AFTER SALE, TRANSFERRED,
               PLEDGED, OR HYPOTHECATED UNLESS QUALIFIED AND REGISTERED UNDER
               APPLICABLE STATE AND FEDERAL SECURITIES LAWS OR UNLESS, IN THE
               WRITTEN OPINION OF COUNSEL SATISFACTORY TO NORD RESOURCES
               CORPORATION, SUCH QUALIFICATION AND REGISTRATION IS NOT REQUIRED.
               NO TRANSFER OF ANY SUCH WARRANT SHALL BE VALID OR EFFECTIVE UNTIL
               SUCH CONDITIONS HAVE BEEN FULFILLED."

     (c)  The legend requirements of Sections 6(a) and 6(b) above shall
          terminate as to any particular Warrant or Warrant Share: (i) when and
          so long as such security shall have been effectively registered under
          the Securities Act and is disposed of pursuant thereto; or (ii) when
          the Company shall have received an opinion of counsel reasonably
          satisfactory to it that such shares may be sold to the public without
          registration thereof under the Securities Act.

                                       10

<PAGE>

          Whenever the legend requirements imposed by this Section 6 shall
          terminate as to any Warrant Share, as hereinabove provided, the Holder
          hereof shall be entitled to receive from the Corporation, at the
          Corporation's expense, a new certificate representing such Warrant
          Shares and not bearing the restrictive legend set forth in Section
          6(a).

SECTION 7. RIGHTS OF ACTION. All rights of action with respect to the Warrants
     are vested in the Holders of the Warrants, and any Holder of a Warrant,
     without consent of the holder of any other Warrant, may, in such Holder's
     own behalf and for his own benefit, enforce against the Company his right
     to exercise his Warrants for the purchase of Warrant Shares in the manner
     provided in this Warrant Certificate.

SECTION 8. AGREEMENT OF WARRANT HOLDERS. Every holder of a Warrant, by his or
     her acceptance thereof, consents and agrees with the Corporation and every
     other holder of a Warrant that:

     (a)  The Warrant Registry shall be maintained by the Corporation's
          Secretary, and shall be the official register of all Warrants issued
          to any person in the Offering. The Warrant Registry shall be
          dispositive as to the issuance, ownership, transfer and other aspects
          of each Warrant issued by the Corporation which are recorded therein
          and, absent manifest error, such records shall control for all
          purposes.

     (b)  The Warrants are transferable only on the Warrant Registry by the
          Holder thereof in person or by his attorney duly authorized in writing
          and only if the Warrant Certificates representing such Warrants are
          surrendered at the Corporate Office of the Corporation, duly endorsed
          or accompanied by a proper instrument of transfer satisfactory to the
          Corporation in its sole discretion, together with payment of the
          amount of any applicable transfer taxes; and

     (c)  The Corporation may deem and treat the person in whose name the
          Warrant Certificate is registered on the Warrant Registry as the
          holder and as the absolute, true and lawful owner of the Warrants
          represented thereby for all purposes, and the Corporation shall not be
          affected by any notice or knowledge to the contrary, except as
          otherwise expressly provided in this Certificate.

SECTION 9. MODIFICATION OF WARRANTS. Other than with respect to any adjustment
     made by the Corporation in accordance with the provisions of Section 5
     hereof, this Certificate may only be modified,

                                       11

<PAGE>

     supplemented or altered by the Corporation, and only with the consent in
     writing of the Holders of Warrants representing greater than fifty percent
     (50%) of the total Warrants then outstanding; provided, that no change in
     the number or nature of the securities purchasable upon the exercise of any
     Warrant, or the acceleration of the Exercise Date, shall be made without
     the consent in writing of the Holder of the Warrant Certificate
     representing such Warrant, other than such changes as are specifically
     prescribed by this Certificate as originally executed or are made in
     compliance with applicable law.

SECTION 10. NOTICES. All notices, requests, consents and other communications
     hereunder shall be in writing and shall be deemed to have been made when
     delivered or mailed first class registered or certified mail, postage
     prepaid as follows: if to the Holder of a Warrant Certificate, at the
     address of such Holder as shown on the Warrant Registry maintained by the
     Corporation; and if to the Corporation, at 3048 Seven Dash Road, Dragoon,
     AZ 85609, or such other place as may be designated by the Corporation from
     time to time in accordance with this Section 10.

SECTION 11. GOVERNING LAW. This Certificate shall be governed by and construed
     in accordance with the corporations laws of the State of Arizona, without
     giving effect to the law of conflicts of laws applied thereby. In the event
     that any dispute shall occur between the parties arising out of or
     resulting from the construction, interpretation, enforcement or any other
     aspect of this Certificate, the parties hereby agree to accept the
     exclusive jurisdiction of the Courts of the State of Arizona. In the event
     either party shall be forced to bring any legal action to protect or defend
     its rights hereunder, then the prevailing party in such proceeding shall be
     entitled to reimbursement from the non-prevailing party of all fees, costs
     and other expenses (including, without limitation, the reasonable expenses
     of its attorneys) in bringing or defending against such action.

SECTION 12. ENTIRE UNDERSTANDING. This Certificate contains the entire
     understanding among the Corporation and the Holder relating to the subject
     matter covered herein, and merges all prior discussions, negotiations and
     agreements, if any between them. Neither of the parties to this agreement
     shall be bound by any representations, warranties, covenants, or other
     understandings relating to such subject matter, other than as expressly
     provided for or referred to herein.

                                       12

<PAGE>

     IN WITNESS WHEREOF, the Corporation has caused this Warrant Certificate to
be duly executed, manually or in facsimile, by two of its officers thereunto
duly authorized, as of the date set forth below.

NORD RESOURCES CORPORATION                  ATTEST:

By:                                     By:
    ---------------------------------       ------------------------------------
    Erland A. Anderson                      Ronald A. Hirsch
    President                               Chief Executive Officer

Date: April 22, 2005

                                       13

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