Document:

Filed by Automated Filing Services Inc. (604) 609-0244 - Lincoln Gold Corporation - Exhibit 4.1

EXHIBIT 4.1 

LINCOLN GOLD CORPORATION 
Suite 350, 885
Dunsmuir Street 
Vancouver, British Columbia V6C 1N5 
A NEVADA CORPORATION

(the “Company”) 

SERIES A 
COMMON STOCK PURCHASE WARRANT
CERTIFICATE 

[DATE OF ISSUE]
(the “Date of Issue”) 

[Certificate Number] 

  	Name of Holder: 	  
	Address of Holder: 	  
	Number of Shares: 	[NUMBER OF WARRANTS] Shares 
	Exercise Price: 	$0.50 per share. 
	Expiry Date: 	The date that is one year from the Date of
      Issue, as set forth above 

THIS WARRANT CERTIFIES THAT, for value received, the
above named holder or its registered assigns (the “Holder”), shall have the
right to purchase from the Company the above referenced number of fully paid and
non-assessable shares (the “Shares”) of the Company’s common stock (the “Common
Stock”) at an exercise price equal to the exercise price set forth above (the
"Exercise Price"), subject to further adjustment as set forth in this
Certificate, at any time from the date hereof until 5:00 P.M., Eastern time, on
the expiry date set forth above (the “Expiry Date”), subject to the accelerated
exercise provisions set forth herein. This Warrant is issued pursuant to the
Subscription Agreement between the Company and Holder (the “Subscription
Agreement”) pursuant to which the Holder purchased units consisting of one share
of Common Stock and one a warrant to purchase one additional share of Common
Stock. The exercise of this Warrant shall be subject to the provisions,
limitations and restrictions contained herein.

1. Exercise. 

           1.1
Procedure for Exercise of Warrant if Registration Statement is
Effective. In the event that a registration statement filed by the
Company pursuant to the Securities Act of 1933 (the “1933 Act”) registering the
Shares issuable upon exercise of the Warrants is in effect at the date of
exercise, the Holder may exercise this Warrant by delivering the following to
the principal office of the Company in accordance with Section 5.1 hereof: (a) a
duly executed Notice of Exercise in substantially the form attached as Schedule
A, (b) payment of the Exercise Price then in effect for each of the Shares being
purchased, as designated in the Notice of Exercise, and (c) this Warrant.
Payment of the Exercise Price may be in cash, certified or official bank check
payable to the order of the Company, or wire transfer of funds to the Company’s
account (or any combination of any of the foregoing) in the amount of the
Exercise Price for each share being purchased.

- 2 - 

          1.2
Procedure for Exercise of Warrant if Registration Statement is Not
Effective. In the event that a registration statement filed by the
Company pursuant to the 1933 Act registering the Shares issuable upon exercise
of the Warrants is in not effect at the date of exercise, this Warrant may not
be exercised unless there is an available exemption for the issuance of the
Shares to the Holder under the 1933 Act or the issuance of the Shares to the
holder is not otherwise subject to the registration requirements of the 1933
Act. In this event, the Holder may exercise this Warrant by delivering the
following to the principal office of the Company in accordance with Section 5.1
hereof: (a) a duly executed Notice of Exercise in substantially the form
attached as Schedule C, if the Holder is a U.S. Person, as defined in Regulation
S of the 1933 Act, or is exercising the Warrants in the United States, or in
form attached as Schedule D, if the Holder is not a U.S. Person and is
exercising the Warrants outside of the United States, (b) payment of the
Exercise Price then in effect for each of the Shares being purchased, as
designated in the Notice of Exercise, and (c) this Warrant. Payment of the
Exercise Price may be in cash, certified or official bank check payable to the
order of the Company, or wire transfer of funds to the Company’s account (or any
combination of any of the foregoing) in the amount of the Exercise Price for
each share being purchased. In each case, the Shares issuable upon the exercise
of this Warrant in the absence of an effective registration statement will be
“restricted securities” within the meaning of the 1933 Act and will be endorsed
with the legend included in the Notice of Exercise. If the Holder is unable to
make the certifications in either Schedule C or Schedule D, the Holder may
alternatively deliver a legal opinion of counsel satisfactory to the Company
stating that the issuance of the Shares upon exercise of the Warrants by the
Holder will not be subject to the registration requirements of the 1933 Act.

          1.3
Delivery of Certificate and New Warrant. The Company agrees
that the shares of Common Stock purchased upon exercise of this Warrant shall be
deemed to be issued to the Holder hereof as the record owner of such shares as
of the close of business on the date on which this Warrant shall have been
surrendered and payment made for such shares as aforesaid. As soon as
practicable after the exercise of this Warrant in full or in part, and in any
event within three (3) days thereafter, the Company at its expense (including
the payment by it of any applicable issue taxes) will cause to be issued in the
name of and delivered to the Holder hereof, or as the Holder (upon payment by
the Holder of any applicable transfer taxes) may direct in compliance with
applicable securities laws, a certificate or certificates for the number of duly
and validly issued, fully paid and nonassessable shares of Common Stock to which
the Holder shall be entitled on such exercise, together with any other stock or
other securities and property (including cash, where applicable) to which the
Holder is entitled upon such exercise; and, unless this Warrant has expired, a
new Warrant representing the number of Shares (except a remaining fractional
share), if any, with respect to which this Warrant shall not then have been
exercised shall also be issued to the Holder hereof within such time.

          1.4
Fractional Shares. No fractional Shares shall be issuable upon
exercise or conversion of the Warrant and the number of Shares to be issued
shall be rounded down to the nearest whole Share. If a fractional share interest
arises upon any exercise or conversion of the Warrant, the Company shall
eliminate such fractional share interest by paying to Holder an amount computed
by multiplying the fractional interest by the current market price of a full
Share.

          1.5
Accelerated Exercise Period. Notwithstanding the date of the
Expiry Date set forth above, if the closing price of the Company’s common stock
is above $0.55 per share for twenty consecutive trading days at any time during
the term of this Warrant, then the Expiry Date will be accelerated to the date
that is thirty calendar days from the date that is the twentieth consecutive
trading day above the price threshold (the “Accelerated Exercise Period”). In
the event that the Holder does not exercise this Warrant within the Accelerated
Exercise Period, then this Warrant will expire at 5:00 pm, Eastern Time, on the
last date of the Accelerated Exercise Period.

2. Covenants of the Company. 

          2.1
Authorized Shares. The Company covenants and agrees that the Company will at
all times have authorized and reserved, free from preemptive rights, a
sufficient number of shares of Common Stock to provide for the exercise in full
of the rights represented by this Warrant.

- 3 - 

          2.2
Issuance of Shares. The Company covenants and agrees that all shares of
Common Stock that may be issued upon the exercise of the rights represented by
this Warrant will, upon issuance, be validly issued, fully paid and
non-assessable, and free from all transfer taxes, liens and charges with respect
to the issue thereof.

3. Transfer and Replacement.

          (a)
Subject to compliance with any applicable securities laws and the conditions set
forth herein, this Warrant and all rights hereunder are transferable, in whole
or in part, upon surrender of this Warrant at the principal office of the
Company, together with a written assignment of this Warrant substantially in the
form attached hereto duly executed by the Holder or its agent or attorney and
funds sufficient to pay any transfer taxes payable upon the making of such
transfer. Upon such surrender and, if required, such payment, the Company shall
execute and deliver a new Warrant or Warrants in the name of the assignee or
assignees and in the denomination or denominations specified in such instrument
of assignment, and shall issue to the assignor a new Warrant evidencing the
portion of this Warrant not so assigned, and this Warrant shall promptly be
cancelled. A Warrant, if properly assigned, may be exercised by a new holder for
the purchase of Shares without having a new Warrant issued.

          (b)
The Company agrees to maintain, at its aforesaid office, books for the
registration and the registration of transfer of the Warrants. 

          (c)
If, at the time of the surrender of this Warrant in connection with any transfer
of this Warrant, the transfer of this Warrant shall not be registered pursuant
to an effective registration statement under the Securities Act and under
applicable state securities or blue sky laws, the Company may require, as a
condition of allowing such transfer (i) that the Holder or transferee of this
Warrant, as the case may be, furnish to the Company a written opinion of counsel
(which opinion shall be in form, substance and scope customary for opinions of
counsel in comparable transactions) to the effect that such transfer may be made
without registration under the Securities Act and under applicable state
securities or blue sky laws, (ii) that the holder or transferee execute and
deliver to the Company a Transfer Form, in the form attached hereto as Schedule
B, and any other investment letter in form and substance reasonably acceptable
to the Company in order to establish that the transfer is exempt from the
registration requirements of the Securities Act, and (iii) that the transferee
be an "accredited investor" as defined in Rule 501(a) promulgated under the
Securities Act. 

          (d)
The Company covenants that upon receipt by the Company of evidence reasonably
satisfactory to it of the loss, theft, destruction or mutilation of this Warrant
or any stock certificate relating to the Shares, and in case of loss, theft or
destruction, of indemnity or security reasonably satisfactory to it (which, in
the case of the Warrant, shall not include the posting of any bond), and upon
surrender and cancellation of such Warrant or stock certificate, if mutilated,
the Company will make and deliver a new Warrant or stock certificate of like
tenor and dated as of such cancellation, in lieu of such Warrant or stock
certificate. 

4. Adjustments of Exercise Price and/or Number of
Shares.

          4.1
Subdivision or Combination of Shares. The number and kind of
securities purchasable upon the exercise of this Warrant and the Exercise Price
shall be subject to adjustment from time to time upon the happening of any of
the following. In case the Company shall (i) pay a dividend in shares of Common
Stock or make a distribution in shares of Common Stock to holders of its
outstanding Common Stock, (ii) subdivide its outstanding shares of Common Stock
into a greater number of shares, (iii) combine its outstanding shares of Common
Stock into a smaller number of shares of Common Stock, or (iv) issue any shares
of its capital stock in a reclassification of the Common Stock, then the number
of Shares purchasable upon exercise of this Warrant immediately prior thereto
shall be adjusted so that the Holder shall be entitled to receive the kind and
number of Shares or other securities of the Company which it would have owned or
have been entitled to receive had such Warrant been exercised in advance
thereof. Upon each such adjustment of the kind and number of Shares or other
securities of the Company 

- 4 - 

which are purchasable hereunder, the Holder shall thereafter be
entitled to purchase the number of Shares or other securities resulting from
such adjustment at an Exercise Price per Warrant Share or other security
obtained by multiplying the Exercise Price in effect immediately prior to such
adjustment by the number of Shares purchasable pursuant hereto immediately prior
to such adjustment and dividing by the number of Shares or other securities of
the Company resulting from such adjustment. An adjustment made pursuant to this
paragraph shall become effective immediately after the effective date of such
event retroactive to the record date, if any, for such event. 

          4.2
Reorganization, Reclassification, Consolidation, Merger or
Sale. If any recapitalization, reclassification or reorganization
of the share capital of the Company, or any consolidation or merger of the
Company with another Company, or the sale of all or substantially all of its
shares and/or assets or other transaction (including, without limitation, a sale
of substantially all of its assets followed by a liquidation) shall be effected
in such a way that holders of Common Stock shall be entitled to receive shares,
securities or other assets or property, then, as a condition of such
recapitalizations, reclassifications, reorganizations, consolidations, mergers
or sales, lawful and adequate provisions shall be made by the Company whereby
the Holder hereof shall thereafter have the right to purchase and receive (in
lieu of the Common Stock of the Company immediately theretofore purchasable and
receivable upon the exercise of the rights represented hereby) such shares,
securities or other assets or property as may be issued or payable with respect
to or in exchange for the number of outstanding Common Stock which such Holder
would have been entitled to receive had such Holder exercised this Warrant
immediately prior to the consummation of such recapitalizations,
reclassifications, reorganizations, consolidations, mergers or sales. The
Company or its successor shall promptly issue to Holder a new Warrant for such
new securities or other property. The new Warrant shall provide for adjustments
which shall be as nearly equivalent as may be practicable to give effect to the
adjustments provided for in this Section 4 including, without limitation,
adjustments to the Exercise Price and to the number of securities or property
issuable upon exercise of the new Warrant. The provisions of this Section 4.2
shall similarly apply to successive recapitalizations, reclassifications,
reorganizations, consolidations, mergers or sales.

          4.3
Notice of Adjustment. Whenever the number of Shares or
number or kind of securities or other property purchasable upon the exercise of
this Warrant or the Exercise Price is adjusted, as herein provided, the Company
shall give notice thereof to the Holder, which notice shall state the number of
Shares (and other securities or property) purchasable upon the exercise of this
Warrant and the Exercise Price of such Shares (and other securities or property)
after such adjustment, setting forth a brief statement of the facts requiring
such adjustment and setting forth the computation by which such adjustment was
made. 

5. Miscellaneous Provisions. 

          5.1
Notices. Any notice or other document required or permitted to
be given or delivered to the Holder shall be delivered or forwarded to the
Holder at the address for Holder provide on the first page of this Warrant or to
such other address or number as shall have been furnished to the Company in
writing by the Holder. Any notice or other document required or permitted to be
given or delivered to the Company shall be delivered or forwarded to the Company
at Suite 306, 1140 Homer Street, Vancouver, British Columbia Attention: Paul
Saxton, or to such other address or number as shall have been furnished to
Holder in writing by the Company. All notices, requests and approvals required
by this Warrant shall be in writing and shall be conclusively deemed to be given
(a) when hand-delivered to the other party, (b) when received if sent by
facsimile at the address and number set forth above; provided that notices given
by facsimile shall not be effective, unless either (i) a duplicate copy of such
facsimile notice is promptly given by depositing the same in the mail, postage
prepaid and addressed to the party as set forth below or (ii) the receiving
party delivers a written confirmation of receipt for such notice by any other
method permitted under this paragraph; and further provided that any notice
given by facsimile received after 5:00 p.m. (recipient’s time) or on a
non-business day shall be deemed received on the next business day; (c) five (5)
business days after deposit in the United States mail, certified, return receipt
requested, postage prepaid, and addressed to the party as set forth below; or
(d) the next business day after deposit with an international overnight delivery
service, postage prepaid, addressed to the party as set forth below with 

- 5 - 

next business day delivery guaranteed; provided that the
sending party receives confirmation of delivery from the delivery service
provider.

          5.2
Limitation of Liability. No provision hereof, in the absence
of affirmative action by the Holder to purchase shares of Common Stock, and no
mere enumeration herein of the rights or privileges of the Holder, shall give
rise to any liability of the Holder for the Exercise Price hereunder or as a
stockholder of the Company, whether such liability is asserted by the Company or
by creditors of the Company.

          5.3
No Rights as Stockholder. This Warrant shall not entitle the
Holder to any of the rights of a stockholder of the Company except upon exercise
in accordance with the terms hereof.

          5.4
Governing Law. This Warrant shall be governed by and construed
in accordance with the laws of the State of Nevada as applied to agreements
among Nevada residents made and to be performed entirely within the State of
Nevada, without giving effect to the conflict of law principles thereof.

          5.5
Waiver, Amendments and Headings. This Warrant and any
provision hereof may be changed, waived, discharged or terminated only by an
instrument in writing signed by both parties (either generally or in a
particular instance and either retroactively or prospectively). The headings in
this Warrant are for purposes of reference only and shall not affect the meaning
or construction of any of the provisions hereof.

IN WITNESS WHEREOF, the Company has caused this Warrant
to be signed by its duly authorized officer effective as of the ______day of
______________, 200__.

LINCOLN GOLD CORPORATION 

	Signature of Authorized Signatory: 	 
	 	 
	Name of Authorized Signatory: 	 
	 	 
	Position of Authorized Signatory: 	 

SCHEDULE A 

NOTICE OF EXERCISE

(TO BE COMPLETED ONLY IF A REGISTRATION 
STATEMENT IS NOT
EFFECTIVE) 

TO: LINCOLN GOLD CORPORATION 

The undersigned hereby irrevocably exercises the right to
purchase the number of shares of common stock of Lincoln Gold Corporation (the
"Company") set forth below (the "Shares") pursuant to the Series A Warrant to
Purchase Common Stock issued by the Company delivered concurrently with this
Notice of Exercise. In accordance with the provisions of the Warrant, the
undersigned hereby tenders the following concurrently with the delivery of this
Notice of Exercise (i) payment of the Exercise Price payable by the undersigned
for the Shares (the “Purchase Price”) in effect for each of the Shares being
purchased, and (ii) the original Warrant. The undersigned hereby directs that
the Shares be issued in the name of the undersigned and delivered to the address
of the undersigned as indicated below: 

	Number of Shares Purchased: 	 
                           
                           
               Shares 
	 	 
	Exercise Price: 	$ 0.50
      per Share 
	 	 
	Aggregate Purchase Price: 	$ 
	  	  
	Date of Execution: 	  
	 	 
	Signature of Purchaser or Authorized 	  
	Signatory of Purchaser (if the Purchaser is
    	  
	not an individual): 	  
	 	 
	Name of Authorized Signatory of 	  
	Purchaser(if the Purchaser is not an 	  
	individual): 	  
	 	 
	Title of Authorized Signatory of 	  
	Purchaser(if the Purchaser is not an 	  
	individual): 	  
	 	 
	Name of Purchaser: 	  
	 	 
	Address of Purchaser: 	  

- 2 - 

SCHEDULE B 

TRANSFER FORM 

TO:  LINCOLN GOLD
CORPORATION
        (the
“Company”) 

FOR VALUE RECEIVED, subject to receipt of prior written
approval of the Company, the undersigned transferor (the “Transferor”) hereby
sells, assigns and transfers unto the undersigned transferee (the “Transferee”)
the number of Series A Warrants of the Company registered in the name of the
Transferor as set forth below (the “Warrants”) and represented by the
certificate attached hereto. The Transferee irrevocably appoints the Company as
the attorney of the undersigned to transfer the said securities on the register
of transfers for the said Warrants, with full power of substitution. 

	Number of Warrants Transferred: 	                                                      Warrants
    
	 	 
	Warrant Certificate Number: 	 
    
	 	 
	Name of Transferor: 	 
    
	 	 
	Name of Transferee: 	 
    
	 	 
	Address of Transferee: 	 
    
	  	  
	  	  
	Date of Execution: 	 
    
	 	 
	Signature of Transferor or Authorized 	  
	Signatory of Transferor (if the Transferor is
    	  
	not an individual): 	 
    
	 	 
	Name of Authorized Signatory of 	  
	Transferor (if the Transferor is not an
    	  
	individual): 	 
    
	 	 
	Title of Authorized Signatory of 	  
	Transferor (if the Transferor is not an
    	  
	individual): 	 
    
	 	 
	Name of Transferor: 	 
    
	 	 
	Address of Transferor: 	 
    

- 3 - 

SCHEDULE C 

NOTICE OF EXERCISE

(TO BE COMPLETED BY A U.S. INVESTOR ONLY IF A REGISTRATION

STATEMENT IS NOT EFFECTIVE) 

TO: LINCOLN GOLD CORPORATION 

The undersigned hereby exercises the right to purchase the
number of shares of common stock of Lincoln Gold Corporation (the "Company") set
forth below (the "Shares") pursuant to the Series A Warrant to Purchase Common
Stock issued by the Company delivered concurrently with this Notice of Exercise.
In accordance with the provisions of the Warrant, the undersigned hereby tenders
the following concurrently with the delivery of this Notice of Exercise (i)
payment of the Exercise Price payable by the undersigned for the Shares (the
“Purchase Price”) in effect for each of the Shares being purchased, and (ii) the
original Warrant. 

	Number of Shares Purchased: 	 
                         
                         
                   Shares 
	 	 
	Exercise Price: 	$
      0.50 per Share 
	 	 
	Aggregate Purchase Price: 	$ 

The undersigned represents and warrants to the Company that:

	1. 	
      It has such knowledge and experience in financial and
      business matters as to be capable of evaluating the merits and risks of an
      investment in the Shares and it is able to bear the economic risk of loss
      of its entire investment.

	 	 
	2. 	
      The Company has provided to it the opportunity to ask
      questions and receive answers concerning the terms and conditions of the
      offering and it has had access to such information concerning the Company
      as it has considered necessary or appropriate in connection with its
      investment decision to acquire the Shares.

	 	 
	3. 	
      It is acquiring the Shares for its own account, for
      investment purposes only and not with a view to any resale, distribution
      or other disposition of the Shares in violation of the United States
      securities laws.

	 	 
	4. 	
      It understands the Shares have not been registered under
      the United States Securities Act of 1933, as amended (the "1933 Act") or
      the securities laws of any state of the United States and that the sale
      contemplated hereby is being made in reliance on an exemption from such
      registration requirements.

	 	 
	5. 	
      The undersigned is an “accredited investor” as defined in
      Rule 501(a) of Regulation D promulgated under the 1933 Act.

	 	 
	7. 	
      It has not exercised the Warrants as a result of any form
      of general solicitation or general advertising, including advertisements,
      articles, notices or other communications published in any newspaper,
      magazine or similar media or broadcast over radio, television or other
      form of telecommunications, or any seminar or meeting whose attendees have
      been invited by general solicitation or general
  advertising.

- 4 - 

	8. 	
      It understands that the Shares are "restricted
      securities" under applicable federal securities laws and that the 1933 Act
      and the rules of the SEC provide in substance that the undersigned may
      dispose of the Shares only pursuant to an effective registration statement
      under the 1933 Act or an exemption therefrom.

	 	 
	9. 	
      The certificates representing the Shares (and any
      certificates issued in exchange or substitution for the Securities) will
      bear the following legend in accordance with Regulation D in order to
      denote the Shares as “Restricted Securities”:

	 	 
		
      “THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE
      NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE "ACT"), AND HAVE
      BEEN OFFERED AND SOLD IN RELIANCE UPON EXEMPTIONS FROM THE REGISTRATION
      REQUIREMENTS OF THE ACT. SUCH SECURITIES MAY NOT BE REOFFERED FOR SALE OR
      RESOLD OR OTHERWISE TRANSFERRED UNLESS THEY ARE REGISTERED UNDER THE
      APPLICABLE PROVISIONS OF THE ACT OR PURSUANT TO AN AVAILABLE EXEMPTION
      FROM THE REGISTRATION REQUIREMENTS OF THE
ACT.”

	Date of Execution: 	 
	 	 
	Signature of Purchaser or Authorized Signatory
    	 
	of Purchaser (if the Purchaser is not an 	 
	individual): 	 
	 	 
	Name of Authorized Signatory of 	 
	Purchaser(if the Purchaser is not an individual):
    	 
	 	 
	Title of Authorized Signatory of 	 
	Purchaser(if the Purchaser is not an individual):
    	 
	 	 
	Name of Purchaser: 	 
	 	 
	Address of Purchaser: 	 
	 	 
	 	 

SCHEDULE D 

FORM OF NOTICE OF EXERCISE
(TO BE COMPLETED BY A
NON-U.S. INVESTOR ONLY IF A REGISTRATION 
STATEMENT IS NOT EFFECTIVE)

TO: LINCOLN GOLD CORPORATION 

The undersigned hereby exercises the right to purchase the
number of shares of common stock of Lincoln Gold Corporation (the "Company") set
forth below (the "Shares") pursuant to the Series A Warrant to Purchase Common
Stock issued by the Company and delivered concurrently with this Notice of
Exercise. In accordance with the provisions of the Warrant, the undersigned
hereby tenders the following concurrently with the delivery of this Notice of
Exercise (i) payment of the Exercise Price payable by the undersigned for the
Shares (the “Purchase Price”) in effect for each of the Shares being purchased,
and (ii) the original Warrant. 

	Number of Shares Purchased: 	 
                         
                         
                   Shares 
	 	 
	Exercise Price: 	$
      0.50 per Share 
	 	 
	Aggregate Purchase Price: 	$ 

The undersigned represents and warrants to and agrees with the
Company that: 

	1. 	It has such knowledge and experience in financial
      and business matters as to be capable of evaluating the merits and risks
      of an investment in the Shares and it is able to bear the economic risk
      of loss of its entire investment.
	 	 	 	 
	2. 	 The Company has provided to it
        the opportunity to ask questions and receive answers concerning the terms
        and conditions of the offering and it has had access to such information
        concerning the Company as it has considered necessary or appropriate in
        connection with its investment decision to acquire the Shares.

	 	 	 	 
	3. 	 It is acquiring the Shares for
        its own account, for investment purposes only and not with a view to any
        resale, distribution or other disposition of the Shares in violation of
        the United States securities laws.

	 	 	 	 
	4. 	 It understands the Shares have
        not been and will not be registered under the United States Securities
        Act of 1933, as amended (the "1933 Act") or the securities laws of any
        state of the United States and that the sale contemplated hereby is being
        made in reliance on a safe-harbour from such registration requirements.

	 	 	 	 
	5. 	 The undersigned is not a “U.S.
        Person” as defined by Regulation S of the Securities Act and is not
        acquiring the Shares for the account or benefit of a U.S. Person.

	 	 	 	 
			 A “U.S. Person” is defined by
        Regulation S of the Act to be any person who is:

	 	 	 	 
		 	(a) 	 any natural person resident in the United States;

	 	 	 	 
		 	(b) 	 any partnership or corporation organized or incorporated
        under the laws of the United States;

	 	 	 	 
		 	(c) 	 any estate of which any executor or administrator
        is a U.S. person;

- 2 - 

		(d)	
       any trust of which any trustee is a U.S.
      person;

	 	 	 	 	 
		(e) 	
      any agency or branch of a foreign entity located in
      the United States;

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

	 	 	 	 	 
		(g)	 any partnership or corporation
  if:
	 	 	 	 	 
			 	(i) 	
      organized or incorporated under the laws of any
      foreign jurisdiction; and

	 	 	 	 	 
			 	(ii)	
       formed by a U.S. person principally for the
      purpose of investing in securities not registered under the Act, unless it
      is organized or incorporated, and owned, by accredited Subscribers [as
      defined in Section 230.501(a) of the Act] who are not natural persons,
      estates or trusts.

	 	 	 	 	 
	6.	
      The undersigned was not in the United States at the time
      the offer to purchase the Shares was received and the Subscriber was not
      in the United States at the time these Warrants were exercised.

	 	 	 	 	 
	7.	
      The undersigned acknowledges that the Shares are
      “restricted securities” within the meaning of the Securities Act and will
      be issued to the Subscriber in accordance with Regulation S of the
      Securities Act without registration under the Securities Act.

	 	 	 	 	 
	8.	
      The undersigned agrees to resell the Shares only in
      accordance with the provisions of Regulation S of the Securities Act,
      pursuant to registration under the Securities Act, or pursuant to an
      available exemption from registration pursuant to the Securities
    Act.

	 	 	 	 	 
	9. 	
      The undersigned agrees not to engage in hedging
      transactions with regard to the Shares unless in compliance with the
      Securities Act.

	 	 	 	 	 
	10.	
      The Subscriber acknowledges and agrees that all
      certificates representing the Shares will be endorsed with the following
      legend in accordance with Regulation S of the Securities Act:

	 	 	 	 	 
		
      “THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE
      NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE "ACT"), AND HAVE
      BEEN ISSUED IN RELIANCE UPON AN EXEMPTION FROM THE REGISTRATION
      REQUIREMENTS OF THE ACT PROVIDED BY REGULATION S PROMULGATED UNDER THE
      ACT. SUCH SECURITIES MAY NOT BE REOFFERED FOR SALE OR RESOLD OR OTHERWISE
      TRANSFERRED EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S,
      PURSUANT TO AN EFFECTIVE REGISTRATION UNDER THE ACT, OR PURSUANT TO AN
      AVAILABLE EXEMPTION FROM REGISTRATION UNDER THE ACT. HEDGING TRANSACTIONS
      INVOLVING THE SECURITIES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH
      THE ACT”.

- 3 - 

	11. 	
      The Subscriber and the Company agree that the Company
      will refuse to register any transfer of the Shares not made in accordance
      with the provisions of Regulation S of the Securities Act, pursuant to
      registration under the Securities Act, pursuant to an available exemption
      from registration, or pursuant to this
Agreement.

	Date of Execution: 	 
	 	 
	Signature of Purchaser or Authorized Signatory 	 
	of Purchaser (if the Purchaser is not an 	 
	individual): 	 
	 	 
	Name of Authorized Signatory of 	 
	Purchaser(if the Purchaser is not an individual):
    	 
	 	 
	Title of Authorized Signatory of 	 
	Purchaser(if the Purchaser is not an individual):
    	 
	 	 
	Name of Purchaser: 	 
	 	 
	Address of Purchaser:Filed by Automated Filing Services Inc. (604) 609-0244 - Lincoln Gold Corporation - Exhibit 4.2

EXHIBIT 4.2 

LINCOLN GOLD CORPORATION 
Suite 350, 885
Dunsmuir Street 
Vancouver, British Columbia V6C 1N5 
A NEVADA CORPORATION

(the “Company”) 

SERIES B 
COMMON STOCK PURCHASE WARRANT
CERTIFICATE 

[DATE OF ISSUE] 
(the “Date of Issue”) 

[Certificate Number] 

	Name of Holder: 	  
	 	 
	Address of Holder: 	  
	 	 
	Number of Shares: 	[NUMBER OF WARRANTS] Shares 
	 	 
	Exercise Price: 	$1.35 per share. 
	 	 
	Expiry Date: 	The
      date that is four years from the Date of Issue, as set forth above 

THIS WARRANT CERTIFIES THAT, for value received, the
above named holder or its registered assigns (the “Holder”), shall have the
right to purchase from the Company the above referenced number of fully paid and
non-assessable shares (the “Shares”) of the Company’s common stock (the “Common
Stock”) at an exercise price equal to the exercise price set forth above (the
"Exercise Price"), subject to further adjustment as set forth in this
Certificate, at any time from the date hereof until 5:00 P.M., Eastern time, on
the expiry date set forth above (the “Expiry Date”), subject to the accelerated
exercise provisions set forth herein. This Warrant is issued pursuant to the
Subscription Agreement between the Company and Holder (the “Subscription
Agreement”) pursuant to which the Holder purchased units consisting of one share
of Common Stock and one a warrant to purchase one additional share of Common
Stock. The exercise of this Warrant shall be subject to the provisions,
limitations and restrictions contained herein.

1. Exercise. 

1.1 Procedure for Exercise of Warrant if
Registration Statement is Effective. In the event that a registration
statement filed by the Company pursuant to the Securities Act of 1933 (the “1933
Act”) registering the Shares issuable upon exercise of the Warrants is in effect
at the date of exercise, the Holder may exercise this Warrant by delivering the
following to the principal office of the Company in accordance with Section 5.1
hereof: (a) a duly executed Notice of Exercise in substantially the form
attached as Schedule A, (b) payment of the Exercise Price then in effect for
each of the Shares being purchased, as designated in the Notice of Exercise, and
(c) this Warrant. Payment of the Exercise Price may be in cash, certified or
official bank check payable to the order of the Company, or wire transfer of
funds to the Company’s account (or any combination of any of the foregoing) in
the amount of the Exercise Price for each share being purchased.

- 2 - 

1.2 Procedure for Exercise of Warrant if
Registration Statement is Not Effective. In the event that a
registration statement filed by the Company pursuant to the 1933 Act registering
the Shares issuable upon exercise of the Warrants is in not effect at the date
of exercise, this Warrant may not be exercised unless there is an available
exemption for the issuance of the Shares to the Holder under the 1933 Act or the
issuance of the Shares to the holder is not otherwise subject to the
registration requirements of the 1933 Act. In this event, the Holder may
exercise this Warrant by delivering the following to the principal office of the
Company in accordance with Section 5.1 hereof: (a) a duly executed Notice of
Exercise in substantially the form attached as Schedule C, if the Holder is a
U.S. Person, as defined in Regulation S of the 1933 Act, or is exercising the
Warrants in the United States, or in form attached as Schedule D, if the Holder
is not a U.S. Person and is exercising the Warrants outside of the United
States, (b) payment of the Exercise Price then in effect for each of the Shares
being purchased, as designated in the Notice of Exercise, and (c) this Warrant.
Payment of the Exercise Price may be in cash, certified or official bank check
payable to the order of the Company, or wire transfer of funds to the Company’s
account (or any combination of any of the foregoing) in the amount of the
Exercise Price for each share being purchased. In each case, the Shares issuable
upon the exercise of this Warrant in the absence of an effective registration
statement will be “restricted securities” within the meaning of the 1933 Act and
will be endorsed with the legend included in the Notice of Exercise. If the
Holder is unable to make the certifications in either Schedule C or Schedule D,
the Holder may alternatively deliver a legal opinion of counsel satisfactory to
the Company stating that the issuance of the Shares upon exercise of the
Warrants by the Holder will not be subject to the registration requirements of
the 1933 Act. 

1.3 Delivery of Certificate and New
Warrant. The Company agrees that the shares of Common Stock purchased
upon exercise of this Warrant shall be deemed to be issued to the Holder hereof
as the record owner of such shares as of the close of business on the date on
which this Warrant shall have been surrendered and payment made for such shares
as aforesaid. As soon as practicable after the exercise of this Warrant in full
or in part, and in any event within three (3) days thereafter, the Company at
its expense (including the payment by it of any applicable issue taxes) will
cause to be issued in the name of and delivered to the Holder hereof, or as the
Holder (upon payment by the Holder of any applicable transfer taxes) may direct
in compliance with applicable securities laws, a certificate or certificates for
the number of duly and validly issued, fully paid and nonassessable shares of
Common Stock to which the Holder shall be entitled on such exercise, together
with any other stock or other securities and property (including cash, where
applicable) to which the Holder is entitled upon such exercise; and, unless this
Warrant has expired, a new Warrant representing the number of Shares (except a
remaining fractional share), if any, with respect to which this Warrant shall
not then have been exercised shall also be issued to the Holder hereof within
such time.

1.4 Fractional Shares. No fractional
Shares shall be issuable upon exercise or conversion of the Warrant and the
number of Shares to be issued shall be rounded down to the nearest whole Share.
If a fractional share interest arises upon any exercise or conversion of the
Warrant, the Company shall eliminate such fractional share interest by paying to
Holder an amount computed by multiplying the fractional interest by the current
market price of a full Share.

1.5 Accelerated Exercise Period.
Notwithstanding the date of the Expiry Date set forth above, if the closing
price of the Company’s common stock is above $1.50 per share for twenty
consecutive trading days at any time during the term of this Warrant, then the
Expiry Date will be accelerated to the date that is thirty calendar days from
the date that is the twentieth consecutive trading day above the price threshold
(the “Accelerated Exercise Period”). In the event that the Holder does not
exercise this Warrant within the Accelerated Exercise Period, then this Warrant
will expire at 5:00 pm, Eastern Time, on the last date of the Accelerated
Exercise Period.

2. Covenants of the Company. 

2.1 Authorized Shares. The Company covenants and agrees
that the Company will at all times have authorized and reserved, free from
preemptive rights, a sufficient number of shares of Common Stock to provide for
the exercise in full of the rights represented by this Warrant.

- 3 - 

2.2 Issuance of Shares. The Company covenants and agrees
that all shares of Common Stock that may be issued upon the exercise of the
rights represented by this Warrant will, upon issuance, be validly issued, fully
paid and non-assessable, and free from all transfer taxes, liens and charges
with respect to the issue thereof.

3. Transfer and Replacement.

(a) Subject to compliance with any applicable securities laws
and the conditions set forth herein, this Warrant and all rights hereunder are
transferable, in whole or in part, upon surrender of this Warrant at the
principal office of the Company, together with a written assignment of this
Warrant substantially in the form attached hereto duly executed by the Holder or
its agent or attorney and funds sufficient to pay any transfer taxes payable
upon the making of such transfer. Upon such surrender and, if required, such
payment, the Company shall execute and deliver a new Warrant or Warrants in the
name of the assignee or assignees and in the denomination or denominations
specified in such instrument of assignment, and shall issue to the assignor a
new Warrant evidencing the portion of this Warrant not so assigned, and this
Warrant shall promptly be cancelled. A Warrant, if properly assigned, may be
exercised by a new holder for the purchase of Shares without having a new
Warrant issued.

(b) The Company agrees to maintain, at its aforesaid office,
books for the registration and the registration of transfer of the Warrants.

(c) If, at the time of the surrender of this Warrant in
connection with any transfer of this Warrant, the transfer of this Warrant shall
not be registered pursuant to an effective registration statement under the
Securities Act and under applicable state securities or blue sky laws, the
Company may require, as a condition of allowing such transfer (i) that the
Holder or transferee of this Warrant, as the case may be, furnish to the Company
a written opinion of counsel (which opinion shall be in form, substance and
scope customary for opinions of counsel in comparable transactions) to the
effect that such transfer may be made without registration under the Securities
Act and under applicable state securities or blue sky laws, (ii) that the holder
or transferee execute and deliver to the Company a Transfer Form, in the form
attached hereto as Schedule B, and any other investment letter in form and
substance reasonably acceptable to the Company in order to establish that the
transfer is exempt from the registration requirements of the Securities Act, and
(iii) that the transferee be an "accredited investor" as defined in Rule 501(a)
promulgated under the Securities Act. 

(d) The Company covenants that upon receipt by the Company of
evidence reasonably satisfactory to it of the loss, theft, destruction or
mutilation of this Warrant or any stock certificate relating to the Shares, and
in case of loss, theft or destruction, of indemnity or security reasonably
satisfactory to it (which, in the case of the Warrant, shall not include the
posting of any bond), and upon surrender and cancellation of such Warrant or
stock certificate, if mutilated, the Company will make and deliver a new Warrant
or stock certificate of like tenor and dated as of such cancellation, in lieu of
such Warrant or stock certificate. 

4. Adjustments of Exercise Price and/or Number of
Shares.

4.1 Subdivision or Combination of Shares.
The number and kind of securities purchasable upon the exercise of this Warrant
and the Exercise Price shall be subject to adjustment from time to time upon the
happening of any of the following. In case the Company shall (i) pay a dividend
in shares of Common Stock or make a distribution in shares of Common Stock to
holders of its outstanding Common Stock, (ii) subdivide its outstanding shares
of Common Stock into a greater number of shares, (iii) combine its outstanding
shares of Common Stock into a smaller number of shares of Common Stock, or (iv)
issue any shares of its capital stock in a reclassification of the Common Stock,
then the number of Shares purchasable upon exercise of this Warrant immediately
prior thereto shall be adjusted so that the Holder shall be entitled to receive
the kind and number of Shares or other securities of the Company which it would
have owned or have been entitled to receive had such Warrant been exercised in
advance thereof. Upon each such adjustment of the kind and number of Shares or
other securities of the Company 

- 4 - 

which are purchasable hereunder, the Holder shall thereafter be
entitled to purchase the number of Shares or other securities resulting from
such adjustment at an Exercise Price per Warrant Share or other security
obtained by multiplying the Exercise Price in effect immediately prior to such
adjustment by the number of Shares purchasable pursuant hereto immediately prior
to such adjustment and dividing by the number of Shares or other securities of
the Company resulting from such adjustment. An adjustment made pursuant to this
paragraph shall become effective immediately after the effective date of such
event retroactive to the record date, if any, for such event. 

4.2 Reorganization, Reclassification,
Consolidation, Merger or Sale. If any recapitalization,
reclassification or reorganization of the share capital of the Company, or any
consolidation or merger of the Company with another Company, or the sale of all
or substantially all of its shares and/or assets or other transaction
(including, without limitation, a sale of substantially all of its assets
followed by a liquidation) shall be effected in such a way that holders of
Common Stock shall be entitled to receive shares, securities or other assets or
property, then, as a condition of such recapitalizations, reclassifications,
reorganizations, consolidations, mergers or sales, lawful and adequate
provisions shall be made by the Company whereby the Holder hereof shall
thereafter have the right to purchase and receive (in lieu of the Common Stock
of the Company immediately theretofore purchasable and receivable upon the
exercise of the rights represented hereby) such shares, securities or other
assets or property as may be issued or payable with respect to or in exchange
for the number of outstanding Common Stock which such Holder would have been
entitled to receive had such Holder exercised this Warrant immediately prior to
the consummation of such recapitalizations, reclassifications, reorganizations,
consolidations, mergers or sales. The Company or its successor shall promptly
issue to Holder a new Warrant for such new securities or other property. The new
Warrant shall provide for adjustments which shall be as nearly equivalent as may
be practicable to give effect to the adjustments provided for in this Section 4
including, without limitation, adjustments to the Exercise Price and to the
number of securities or property issuable upon exercise of the new Warrant. The
provisions of this Section 4.2 shall similarly apply to successive
recapitalizations, reclassifications, reorganizations, consolidations, mergers
or sales.

4.3 Notice of Adjustment. Whenever
the number of Shares or number or kind of securities or other property
purchasable upon the exercise of this Warrant or the Exercise Price is adjusted,
as herein provided, the Company shall give notice thereof to the Holder, which
notice shall state the number of Shares (and other securities or property)
purchasable upon the exercise of this Warrant and the Exercise Price of such
Shares (and other securities or property) after such adjustment, setting forth a
brief statement of the facts requiring such adjustment and setting forth the
computation by which such adjustment was made. 

5. Miscellaneous Provisions. 

5.1 Notices. Any notice or other document
required or permitted to be given or delivered to the Holder shall be delivered
or forwarded to the Holder at the address for Holder provide on the first page
of this Warrant or to such other address or number as shall have been furnished
to the Company in writing by the Holder. Any notice or other document required
or permitted to be given or delivered to the Company shall be delivered or
forwarded to the Company at Suite 306, 1140 Homer Street, Vancouver, British
Columbia Attention: Paul Saxton, or to such other address or number as shall
have been furnished to Holder in writing by the Company. All notices, requests
and approvals required by this Warrant shall be in writing and shall be
conclusively deemed to be given (a) when hand-delivered to the other party, (b)
when received if sent by facsimile at the address and number set forth above;
provided that notices given by facsimile shall not be effective, unless either
(i) a duplicate copy of such facsimile notice is promptly given by depositing
the same in the mail, postage prepaid and addressed to the party as set forth
below or (ii) the receiving party delivers a written confirmation of receipt for
such notice by any other method permitted under this paragraph; and further
provided that any notice given by facsimile received after 5:00 p.m.
(recipient’s time) or on a non-business day shall be deemed received on the next
business day; (c) five (5) business days after deposit in the United States
mail, certified, return receipt requested, postage prepaid, and addressed to the
party as set forth below; or (d) the next business day after deposit with an
international overnight delivery service, postage prepaid, addressed to the
party as set forth below with 

- 5 - 

next business day delivery guaranteed; provided that the
sending party receives confirmation of delivery from the delivery service
provider.

5.2 Limitation of Liability. No provision
hereof, in the absence of affirmative action by the Holder to purchase shares of
Common Stock, and no mere enumeration herein of the rights or privileges of the
Holder, shall give rise to any liability of the Holder for the Exercise Price
hereunder or as a stockholder of the Company, whether such liability is asserted
by the Company or by creditors of the Company.

5.3 No Rights as Stockholder. This Warrant
shall not entitle the Holder to any of the rights of a stockholder of the
Company except upon exercise in accordance with the terms hereof.

5.4 Governing Law. This Warrant shall be
governed by and construed in accordance with the laws of the State of Nevada as
applied to agreements among Nevada residents made and to be performed entirely
within the State of Nevada, without giving effect to the conflict of law
principles thereof.

5.5 Waiver, Amendments and Headings. This
Warrant and any provision hereof may be changed, waived, discharged or
terminated only by an instrument in writing signed by both parties (either
generally or in a particular instance and either retroactively or
prospectively). The headings in this Warrant are for purposes of reference only
and shall not affect the meaning or construction of any of the provisions
hereof.

IN WITNESS WHEREOF, the Company has caused this Warrant
to be signed by its duly authorized officer effective as of the ______day of
______________, 200__.

LINCOLN GOLD CORPORATION 

	Signature of Authorized Signatory: 	 
	 	 
	Name of Authorized Signatory: 	 
	 	 
	Position of Authorized Signatory: 	 

SCHEDULE A 

NOTICE OF EXERCISE

(TO BE COMPLETED ONLY IF A REGISTRATION 
STATEMENT IS NOT
EFFECTIVE) 

TO: LINCOLN GOLD CORPORATION 

The undersigned hereby irrevocably exercises the right to
purchase the number of shares of common stock of Lincoln Gold Corporation (the
"Company") set forth below (the "Shares") pursuant to the Series B Warrant to
Purchase Common Stock issued by the Company delivered concurrently with this
Notice of Exercise. In accordance with the provisions of the Warrant, the
undersigned hereby tenders the following concurrently with the delivery of this
Notice of Exercise (i) payment of the Exercise Price payable by the undersigned
for the Shares (the “Purchase Price”) in effect for each of the Shares being
purchased, and (ii) the original Warrant. The undersigned hereby directs that
the Shares be issued in the name of the undersigned and delivered to the address
of the undersigned as indicated below: 

	Number of Shares Purchased: 	 
                           
                           
               Shares 
	 	 
	Exercise Price: 	$ 1.35
      per Share 
	 	 
	Aggregate Purchase Price: 	$ 
	  	  
	Date of Execution: 	  
	 	 
	Signature of Purchaser or Authorized 	  
	 	 
	Signatory of Purchaser (if the Purchaser is
    	  
	not an individual): 	  
	 	 
	Name of Authorized Signatory of 	  
	Purchaser(if the Purchaser is not an 	  
	individual): 	  
	 	 
	Title of Authorized Signatory of 	  
	Purchaser(if the Purchaser is not an 	  
	individual): 	  
	 	 
	Name of Purchaser: 	  
	 	 
	Address of Purchaser: 	  
	 	 
	 	 
	 	 
	 	 

- 2 - 

SCHEDULE B 

TRANSFER FORM 

TO: LINCOLN GOLD CORPORATION

       (the “Company”) 

FOR VALUE RECEIVED, subject to receipt of prior written
approval of the Company, the undersigned transferor (the “Transferor”) hereby
sells, assigns and transfers unto the undersigned transferee (the “Transferee”)
the number of Series B Warrants of the Company registered in the name of the
Transferor as set forth below (the “Warrants”) and represented by the
certificate attached hereto. The Transferee irrevocably appoints the Company as
the attorney of the undersigned to transfer the said securities on the register
of transfers for the said Warrants, with full power of substitution. 

	Number of Warrants Transferred: 	                                                    Warrants
    
	 	 
	Warrant Certificate Number: 	  
	 	 
	Name of Transferor: 	  
	 	 
	Name of Transferee: 	  
	 	 
	Address of Transferee: 	  
	  	  
	  	  
	Date of Execution: 	  
	 	 
	Signature of Transferor or Authorized 	  
	Signatory of Transferor (if the Transferor is
    	  
	not an individual): 	  
	 	 
	Name of Authorized Signatory of 	  
	Transferor (if the Transferor is not an
    	  
	individual): 	  
	 	 
	Title of Authorized Signatory of 	  
	Transferor (if the Transferor is not an
    	  
	individual): 	  
	 	 
	Name of Transferor: 	  
	 	 
	Address of Transferor: 	  
	 	 
	 	 
	 	 
	 	 

- 3 - 

SCHEDULE C 

NOTICE OF EXERCISE

(TO BE COMPLETED BY A U.S. INVESTOR ONLY IF A REGISTRATION

STATEMENT IS NOT EFFECTIVE) 

TO: LINCOLN GOLD CORPORATION 

The undersigned hereby exercises the right to purchase the
number of shares of common stock of Lincoln Gold Corporation (the "Company") set
forth below (the "Shares") pursuant to the Series B Warrant to Purchase Common
Stock issued by the Company delivered concurrently with this Notice of Exercise.
In accordance with the provisions of the Warrant, the undersigned hereby tenders
the following concurrently with the delivery of this Notice of Exercise (i)
payment of the Exercise Price payable by the undersigned for the Shares (the
“Purchase Price”) in effect for each of the Shares being purchased, and (ii) the
original Warrant. 

	Number of Shares Purchased: 	 
                         
                         
                   Shares 
	 	 
	Exercise Price: 	$
      1.35 per Share 
	 	 
	Aggregate Purchase Price: 	$ 

The undersigned represents and warrants to the Company that:

	1. 	
      It has such knowledge and experience in financial and
      business matters as to be capable of evaluating the merits and risks of an
      investment in the Shares and it is able to bear the economic risk of loss
      of its entire investment.

	 	 
	2. 	
      The Company has provided to it the opportunity to ask
      questions and receive answers concerning the terms and conditions of the
      offering and it has had access to such information concerning the Company
      as it has considered necessary or appropriate in connection with its
      investment decision to acquire the Shares.

	 	 
	3. 	
      It is acquiring the Shares for its own account, for
      investment purposes only and not with a view to any resale, distribution
      or other disposition of the Shares in violation of the United States
      securities laws.

	 	 
	4. 	
      It understands the Shares have not been registered under
      the United States Securities Act of 1933, as amended (the "1933 Act") or
      the securities laws of any state of the United States and that the sale
      contemplated hereby is being made in reliance on an exemption from such
      registration requirements.

	 	 
	5. 	
      The undersigned is an “accredited investor” as defined in
      Rule 501(a) of Regulation D promulgated under the 1933 Act.

	 	 
	7. 	
      It has not exercised the Warrants as a result of any form
      of general solicitation or general advertising, including advertisements,
      articles, notices or other communications published in any newspaper,
      magazine or similar media or broadcast over radio, television or other
      form of telecommunications, or any seminar or meeting whose attendees have
      been invited by general solicitation or general
  advertising.

- 4 - 

	8. 	
      It understands that the Shares are "restricted
      securities" under applicable federal securities laws and that the 1933 Act
      and the rules of the SEC provide in substance that the undersigned may
      dispose of the Shares only pursuant to an effective registration statement
      under the 1933 Act or an exemption therefrom.

	 	 
	9. 	
      The certificates representing the Shares (and any
      certificates issued in exchange or substitution for the Securities) will
      bear the following legend in accordance with Regulation D in order to
      denote the Shares as “Restricted Securities”:

	 	 
		
      “THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE
      NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE "ACT"), AND HAVE
      BEEN OFFERED AND SOLD IN RELIANCE UPON EXEMPTIONS FROM THE REGISTRATION
      REQUIREMENTS OF THE ACT. SUCH SECURITIES MAY NOT BE REOFFERED FOR SALE OR
      RESOLD OR OTHERWISE TRANSFERRED UNLESS THEY ARE REGISTERED UNDER THE
      APPLICABLE PROVISIONS OF THE ACT OR PURSUANT TO AN AVAILABLE EXEMPTION
      FROM THE REGISTRATION REQUIREMENTS OF THE
ACT.”

	Date of Execution: 	 
	 	 
	Signature of Purchaser or Authorized Signatory
    	 
	of Purchaser (if the Purchaser is not an 	 
	individual): 	 
	 	 
	Name of Authorized Signatory of 	 
	Purchaser(if the Purchaser is not an individual):
    	 
	 	 
	Title of Authorized Signatory of 	 
	Purchaser(if the Purchaser is not an individual):
    	 
	 	 
	Name of Purchaser: 	 
	 	 
	Address of Purchaser: 	 
	 	 
	 	 
	 	 
	 	 

SCHEDULE D 

FORM OF NOTICE OF EXERCISE
(TO BE COMPLETED BY A
NON- U.S. INVESTOR ONLY IF A REGISTRATION 
STATEMENT IS NOT EFFECTIVE)

TO: LINCOLN GOLD CORPORATION 

The undersigned hereby exercises the right to purchase the
number of shares of common stock of Lincoln Gold Corporation (the "Company") set
forth below (the "Shares") pursuant to the Series B Warrant to Purchase Common
Stock issued by the Company and delivered concurrently with this Notice of
Exercise. In accordance with the provisions of the Warrant, the undersigned
hereby tenders the following concurrently with the delivery of this Notice of
Exercise (i) payment of the Exercise Price payable by the undersigned for the
Shares (the “Purchase Price”) in effect for each of the Shares being purchased,
and (ii) the original Warrant. 

	Number of Shares Purchased: 	 
                         
                         
                   Shares 
	 	 
	Exercise Price: 	$
      1.35 per Share 
	 	 
	Aggregate Purchase Price: 	$ 

The undersigned represents and warrants to and agrees with the
Company that: 

	1. 	 It has such knowledge and experience
        in financial and business matters as to be capable of evaluating the merits
        and risks of an investment in the Shares and it is able to bear the economic
        risk of loss of its entire investment.

	 	 
	2. 	 The Company has provided to it
        the opportunity to ask questions and receive answers concerning the terms
        and conditions of the offering and it has had access to such information
        concerning the Company as it has considered necessary or appropriate in
        connection with its investment decision to acquire the Shares.

	 	 
	3. 	 It is acquiring the Shares for
        its own account, for investment purposes only and not with a view to any
        resale, distribution or other disposition of the Shares in violation of
        the United States securities laws.

	 	 
	4. 	 It understands the Shares have
        not been and will not be registered under the United States Securities
        Act of 1933, as amended (the "1933 Act") or the securities laws of any
        state of the United States and that the sale contemplated hereby is being
        made in reliance on a safe-harbour from such registration requirements.

	 	 
	5. 	The undersigned is not a “U.S. Person”
      as defined by Regulation S of the Securities Act and is not acquiring the
      Shares for the account or benefit of a U.S. Person.
	 	 
		  
	A “U.S. Person” is defined by Regulation S of
      the Act to be any person who is:
	 	 
		 	(a) 	 any natural person resident in the United States;

	 	 
		 	(b) 	 any partnership or corporation organized or incorporated
        under the laws of the United States;

	 	 
		 	(c) 	 any estate of which any executor or administrator
        is a U.S. person;

- 2 - 

		 	(d)	  any trust of which any
        trustee is a U.S. person;

	 	 	 	 
		 	(e) 	 any agency or branch of a foreign
        entity located in the United States;

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

	 	 	 	 
		 	(g)	  any partnership or corporation
        if:

	 	 	 	 
				(i) 	 organized or incorporated under
        the laws of any foreign jurisdiction; and

	 	 	 	 
				(ii)	  formed by a U.S. person
        principally for the purpose of investing in securities not registered
        under the Act, unless it is organized or incorporated, and owned, by accredited
        Subscribers [as defined in Section 230.501(a) of the Act] who are not
        natural persons, estates or trusts.

	 	 	 	 
	6. 	 The undersigned was not in the
        United States at the time the offer to purchase the Shares was received
        and the Subscriber was not in the United States at the time these Warrants
        were exercised.

	 	 
	7. 	 The undersigned acknowledges that
        the Shares are “restricted securities” within the meaning of
        the Securities Act and will be issued to the Subscriber in accordance
        with Regulation S of the Securities Act without registration under the
        Securities Act.

	 	 
	8. 	 The undersigned agrees to resell
        the Shares only in accordance with the provisions of Regulation S of the
        Securities Act, pursuant to registration under the Securities Act, or
        pursuant to an available exemption from registration pursuant to the Securities
        Act.

	 	 
	9. 	 The undersigned agrees not to engage
        in hedging transactions with regard to the Shares unless in compliance
        with the Securities Act.

	 	 
	10. 	 The Subscriber acknowledges and
        agrees that all certificates representing the Shares will be endorsed
        with the following legend in accordance with Regulation S of the Securities
        Act:

	 	 
		 “THE SECURITIES REPRESENTED
        BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT
        OF 1933 (THE "ACT"), AND HAVE BEEN ISSUED IN RELIANCE UPON AN EXEMPTION
        FROM THE REGISTRATION REQUIREMENTS OF THE ACT PROVIDED BY REGULATION S
        PROMULGATED UNDER THE ACT. SUCH SECURITIES MAY NOT BE REOFFERED FOR SALE
        OR RESOLD OR OTHERWISE TRANSFERRED EXCEPT IN ACCORDANCE WITH THE PROVISIONS
        OF REGULATION S, PURSUANT TO AN EFFECTIVE REGISTRATION UNDER THE ACT,
        OR PURSUANT TO AN AVAILABLE EXEMPTION FROM REGISTRATION UNDER THE ACT.
        HEDGING TRANSACTIONS INVOLVING THE SECURITIES MAY NOT BE CONDUCTED UNLESS
        IN COMPLIANCE WITH THE ACT”.

- 3 - 

	11. 	
      The Subscriber and the Company agree that the Company
      will refuse to register any transfer of the Shares not made in accordance
      with the provisions of Regulation S of the Securities Act, pursuant to
      registration under the Securities Act, pursuant to an available exemption
      from registration, or pursuant to this
Agreement.

	Date of Execution: 	 
	 	 
	Signature of Purchaser or Authorized Signatory
    	 
	of Purchaser (if the Purchaser is not an 	 
	individual): 	 
	 	 
	Name of Authorized Signatory of 	 
	Purchaser(if the Purchaser is not an individual):
    	 
	 	 
	Title of Authorized Signatory of 	 
	Purchaser(if the Purchaser is not an individual):
    	 
	 	 
	Name of Purchaser: 	 
	 	 
	Address of Purchaser:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00097-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00097-of-00352.parquet"}]]