Document:

Filed by Automated Filing Services Inc. (604) 609-0244 - Lincoln Gold Corporation - Exhibit 4.3

EXHIBIT 4.3 

SUBSCRIPTION AGREEMENT 

THIS AGREEMENT is made effective as of the ______day of
_________________, 2006. 

BETWEEN: 

THE SUBSCRIBER NAMED ON THE
EXECUTION PAGE TO THIS AGREEMENT 

(hereinafter called the "Subscriber")

OF THE FIRST PART 

AND: 

LINCOLN GOLD CORPORATION,

a Nevada corporation 

(hereinafter called the “Company") 

OF THE SECOND PART 

THE PARTIES HEREBY AGREE AS FOLLOWS: 

1. DEFINITIONS 

1.1 The following terms will have the following meanings for
all purposes of this Agreement. 

	 	(a) 	
      "Agreement" shall mean this Agreement, and all schedules
      and amendments to in the Agreement.

	 	 	 
	 	(b) 	
      “Common Stock” means the shares of Common Stock of the
      Company, $0.001 par value per share.

	 	 	 
	 	(c) 	
      "Exchange Act" shall mean the United States Securities
      Exchange Act of 1934, as amended.

	 	 	 
	 	(d) 	
      "Offering" shall mean the offering of up to 2,857,143
      Units by the Company.

	 	 	 
	 	(e) 	
      “Prospectus” means the prospectus forming a part of the
      Registration Statement, as amended and supplemented from time to time in
      accordance with the rules and requirements of the Securities
Act.

	 	 	 
	 	(f) 	
      “Purchase Price” means the purchase price payable by the
      Subscriber to the Company in consideration for the purchase and sale of
      the Units in accordance with Section 2.1 of this Agreement.

	 	 	 
	 	(g) 	
      “Registration Statement” means the registration statement
      on Form SB-2 filed by the Company with the SEC pursuant to the Securities
      Act, as amended.

	 	 	 
	 	(h) 	
      "SEC" shall mean the United States Securities and
      Exchange Commission.

	 	 	 
	 	(i) 	
      "Securities Act" shall mean the United States Securities
      Act of 1933, as amended.

	 	 	 
	 	(j) 	
      "Shares" means those shares of Common Stock to be
      purchased by the Subscriber and comprising a portion of the
  Units.

2

	 	(k) 	
      “Subscriber” shall mean the Subscriber executing the
      signature page to this Agreement.

	 	 	 
	 	(l) 	
      “Series A Warrant” means one share purchase warrant, in
      the form attached to the Registration Statement, entitling the Subscriber
      to purchase one share of Common Stock of the Company for a one year term
      at a price of $0.50 per share during the period from the date of issue to
      the date that is one year from the date of issue, subject to the
      accelerated exercise provisions set forth in this Agreement.

	 	 	 
	 	(m) 	
      “Series A Warrant Shares” means the shares of Common
      Stock issuable upon exercise of any of the Series A Warrants.

	 	 	 
	 	(n) 	
      “Series B Warrant” means one share purchase warrant, in
      the form attached to the Registration Statement, entitling the Subscriber
      to purchase one share of Common Stock of the Company for a four year term
      at a price of $1.35 per share during the period from the date of issue to
      the date that is one year from the date of issue, subject to the
      accelerated exercise provisions set forth in this Agreement.

	 	 	 
	 	(o) 	
      “Series B Warrant Shares” means the shares of Common
      Stock issuable upon exercise of any of the Series B Warrants.

	 	 	 
	 	(p) 	
      “Warrants” means the Series A Warrants and the Series B
      Warrants.

	 	 	 
	 	(q) 	
      “Warrant Shares” means the Series A Warrant Shares and
      the Series B Warrant Shares.

	 	 	 
	 	(r) 	
      “Unit” means a unit consisting of one (1) Share, one-half
      (1/2) of one Series A Warrant and one whole (1) Series B
  Warrant.

1.2 The following schedules are attached to and form part of
this Agreement: 

Schedule A Canadian Investor Certificate 

1.3 All dollar amounts referred to in this agreement are in
United States funds, unless expressly stated otherwise. 

2. PURCHASE AND SALE OF UNITS 

2.1 Subject to the terms and conditions of this Agreement, the
Subscriber hereby subscribes for and agrees to purchase from the Company such
number of Units as is set forth upon the signature page hereof at a price equal
to $0.35 US per Unit. Upon execution, the subscription by the Subscriber will be
irrevocable. 

2.2 The Subscriber will complete the purchase of the Units by
delivering to the Company payment of the Purchase Price by cheque, bank draft of
cashier’s cheque payable to the Company concurrently with the execution and
delivery of this Subscription Agreement. 

2.3 Upon execution by the Company, the Company agrees to sell
such Units to the Subscriber for the Purchase Price subject to the Company's
right to sell to the Subscriber such lesser number of Units as it may, in its
sole discretion, deem necessary or desirable. 

2.4 Any acceptance by the Company of the Subscription is
conditional upon compliance with all securities laws and other applicable laws
of the jurisdiction in which the Subscriber is resident. Each Subscriber will
deliver to the Company all other documentation, agreements, representations and
requisite government forms required by the lawyers for the Company as required
to comply with all securities laws and other applicable laws of the jurisdiction
of the Subscriber. 

2.5 Pending acceptance of this subscription by the Company, all
funds paid by the Subscriber shall be deposited by the Company and immediately
available to the Company for its corporate purposes.

3

In the event the subscription is not accepted, the subscription
funds will constitute a non-interest bearing demand loan of the Subscriber to
the Company. 

2.6 The Subscriber hereby authorizes and directs the Company to
deliver the certificates representing the securities to be issued to such
Subscriber pursuant to this Agreement to the Subscriber’s address indicated on
the signature page of this Agreement. 

2.7 The Subscriber acknowledges and agrees that the
subscription for the Units and the Company's acceptance of the subscription is
not subject to any minimum subscription for the Offering. 

2.8 Notwithstanding the date of the expiry date of the Series A
Warrants, 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 the
Series A Warrants, 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 “Series A Accelerated Exercise Period”). In the
event that the subscriber does not exercise the Series A Warrant within the
Series A Accelerated Exercise Period, then the Series A Warrant will expire at
5:00 pm, Eastern Time, on the last date of the Series A Accelerated Exercise
Period.

2.9 Notwithstanding the date of the expiry date of the Series B
Warrants, 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 the
Series B Warrants, 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 “Series B Accelerated Exercise Period”). In the
event that the subscriber does not exercise the Series B Warrant within the
Series B Accelerated Exercise Period, then the Series B Warrant will expire at
5:00 pm, Eastern Time, on the last date of the Series B Accelerated Exercise
Period.

3. AGREEMENTS, REPRESENTATIONS AND WARRANTIES OF THE
SUBSCRIBER 

3.1 The Subscriber acknowledges and agrees that offer and sale
of the Units has been registered by the Company under the Securities Act by the
filing of the Registration Statement with the Securities and Exchange
Commission. 

3.2 The Subscriber acknowledges receipt from the Company of a
Prospectus prior to the execution of this Agreement and confirms that the
Subscriber has had the opportunity to review the Prospectus and to discuss the
Prospectus and an investment with the Subscriber’s professional advisors prior
to execution of this Agreement. 

3.3 This Agreement has been duly authorized, validly executed
and delivered by the Subscriber. 

4. CANADIAN INVESTOR REPRESENTATIONS AND WARRANTIES OF THE
SUBSCRIBER 

4.1 The Subscriber represents and warrants to the Company that
the Subscriber is one of the following [Initial (a), (b) or (c), as
appropriate, and complete (b) or (c), if applicable]: 

INITIAL 

	 

       
 		(a)	an “Accredited Investor” as defined by
      Multilateral Instrument 45-106 adopted by the British Columbia Securities
      Commission and as outlined in Schedule A attached to this Subscription Agreement.
    
	  
	  
	 	  	 	  
	

       
 		(b)	a close personal friend of __________________________________,
      an officer or director of the Company.  
	  
	 
	 	  	 	  
	   	    	   	A close personal friend is an individual who has
      known the director, senior officer or control person for a sufficient
      period of time to be in a position to 

	4 

	     	     	      	assess the capabilities and trustworthiness of
      the director, senior officer or control person. An individual is
      not a close personal friend solely because the individual is a member
      of the same organization, association or religious group. 

	 	 	  	  
	 

       
 	 	(c)	a business associate of ____________________________________,
      an officer or director of the Company.  
	 
	 
	 	 	  	  
				A close business associate is an individual who
      has had sufficient prior business dealings with the director, senior
      officer or control person to be in a position to assess the capabilities
      and trustworthiness of the director, senior officer or control person.
      A casual business associate or a person introduced or solicited for
      the purpose of purchasing securities is not a close business associate.
      An individual is not a close business associate solely because the
      individual is a client or former client. For example, an individual
      is not a close business associate of a registrant or former registrant
      solely because the individual is a client or former client of that
      registrant or former registrant. The relationship between the purchaser
      and the director, senior officer or control person must be direct.
      For example, the exemption is not available for a close business associate
      of a close business associate of a director, senior officer or control
      person. 

SUBSCRIBERS WHO ARE PURCHASING AS “ACCREDITED INVESTORS”
MUST COMPLETE AND SIGN THE ACCOMPANYING CANADIAN INVESTOR QUESTIONNAIRE ATTACHED
HERETO AS SCHEDULE A. 

4.2 The Subscriber acknowledges that the Units, the Shares, the
Shares or the Warrant Shares may not be sold or otherwise disposed of for value
in British Columbia, except pursuant to either a prospectus or statutory
exemption available only in specific and limited circumstances. The Subscriber
acknowledges that the Company is not a reporting issuer in the Province of
British Columbia and has no plans to become a reporting issuer in the Province
of British Columbia. 

5. REPRESENTATIONS AND WARRANTIES OF THE COMPANY 

5.1 The Company represents and warrants to the Subscriber and
acknowledges that the Subscriber is relying upon such representations and
warranties in connection with the execution, delivery and performance of this
Agreement: 

	 	(a) 	
      The Company is a corporation duly incorporated and in
      good standing under the laws of the State of Nevada, and has the requisite
      corporate power and authority to conduct its business as it is currently
      being conducted.

	 	 	 
	 	(b) 	
      The issuance of the Shares and the Warrants has been duly
      authorized and, when issued upon payment thereof in accordance with this
      Agreement, will have been validly issued, fully paid and non-assessable.
      The Warrant Shares have been authorized and validly reserved for issuance,
      and when issued upon exercise of the Warrant in accordance with the terms
      thereof (and upon payment of the exercise price therefor), will be validly
      issued, fully paid and non-assessable.

	 	 	 
	 	(c) 	
      The Company has the requisite corporate power and
      authority to enter into and to consummate the transactions contemplated by
      the Subscription Agreement. The execution and delivery by the Company of
      the Subscription Agreement have been duly authorized by all necessary
      action on the part of the Company.

6. MISCELLANEOUS 

6.1 Any notice or other communication given hereunder shall be
deemed sufficient if in writing and sent by registered or certified mail, return
receipt requested, addressed to the Company, at its head office at Suite 306,
1140 Homer Street, Vancouver, British Columbia, Attention: Mr. Paul Saxton, 

5

President, and to the Subscriber at his/her address indicated
on the last page of this Subscription Agreement. Notices shall be deemed to have
been given on the date of mailing, except notices of change of address, which
shall be deemed to have been given when received. 

6.2 The parties agree to execute and deliver all such further
documents, agreements and instruments and take such other and further action as
may be necessary or appropriate to carry out the purposes and intent of this
Subscription Agreement. 

6.3 This Agreement will be governed by and construed in
accordance with the laws of the Province of British Columbia applicable to
contracts made and to be performed therein. The parties hereby submit to
personal jurisdiction in the Courts of the Province of British Columbia for the
enforcement of this Agreement and waive any and all rights under the laws of any
state to object to jurisdiction within the Province of British Columbia for the
purposes of litigation to enforce this Agreement. 

IN WITNESS WHEREOF, this Subscription Agreement is
executed as of the day and year first written above. 

	Number of Units Subscribed For: 	 
                         
                         
               Units 
	 	 
	Unit Purchase Price: 	 
                       $0.35 per
      Unit 
	 	 
	Aggregate Purchase Price: 	$ 
	 	 
	Signature of Subscriber or Authorized 	  
	Signatory of Subscriber: 	 
    
	 	 
	Name and Title of Authorized Signatory of 	  
	Subscriber (if Subscriber is not an 	  
	individual): 	 
    
	 	 
	Name of Subscriber: 	 
    
	 	 
	Address of Subscriber: 	 
    
	 	 
	 	 
	  	  
	ACCEPTED BY: 	  
	 	 
	LINCOLN GOLD CORPORATION 	  
	 	 
	Signature of Authorized Signatory: 	 
    
	 	 
	Name of Authorized Signatory: 	 
    
	 	 
	Position of Authorized Signatory: 	 
    
	 	 
	Date of Acceptance: 	 
    

6

SCHEDULE A 

CANADIAN INVESTOR CERTIFICATE 

TO: LINCOLN GOLD CORPORATION 

Certificate 

In connection with the purchase by the undersigned or the
disclosed principal, as the case may be (the “Purchaser”) of Shares of Lincoln
Gold Corporation (the “Company”), the undersigned hereby represents, warrants,
covenants to and with you and certifies to you (on behalf of itself or on behalf
of the disclosed principal, as the case may be) that: 

	1. 	
      the Purchaser is (PLEASE CHECK THE APPROPRIATE
      BOX):

	 	 	 	 	 
		[ ] 	
      resident in the Province of Ontario or is subject to the
      laws of the Province of Ontario, or

	 	 	 	 	 
		[ ] 	
      resident in the Province of British Columbia or is
      subject to the laws of the Province of British Columbia;

	 	 	 	 	 
	2. 	
      the Purchaser is purchasing the Shares as principal for
      its own account;

	 	 	 	 	 
	3. 	
      the Purchaser is an “accredited investor” within
      the meaning of National Instrument 45-106 of the Canadian Securities
      Administrators by virtue of satisfying the indicated criterion as set out
      in Schedule 1 to this Certificate (YOU MUST ALSO INITIAL SCHEDULE 1 TO
      THIS

	 	 	 	 	 
		
      CERTIFICATE);

	 	 	 	 	 
	4. 	
      if the Purchaser is resident in the Province of Ontario
      or is subject to the laws of the Province of Ontario, the
  Purchaser:

	 	 	 	 	 
		
      (a) 
	is hereby notified by the Company
	 	 	 	 	 
			(i) 	
      of the delivery to the Ontario Securities Commission of
      the following information pertaining to the Purchaser (the
      “Information”):

	 	 	 	 	 
			 	(A)	
      the full name, residential address and telephone number
      of the Purchaser;

	 	 	 	 	 
			 	(B)	
      the number and type of securities purchased by the
      Purchaser;

	 	 	 	 	 
			 	(C) 	
      the total purchase price paid by the Purchaser,

	 	 	 	 	 
			 	(D)	
       the Company’s reliance on the “Accredited Investor”
      exemption under National Instrument 45-106, and

	 	 	 	 	 
			 	(E)	
      the date of distribution of the Shares;

	 	 	 	 	 
			(ii)	
      that the Information is being collected indirectly by the
      Ontario Securities Commission under the authority granted to it in
      securities legislation,

	 	 	 	 	 
			(iii)	
      that the Information is being collected for the purposes
      of the administration and enforcement of the securities legislation of
      Ontario, and

7

		
       
	
      (iv) 
	of the title, business address and business telephone number
      of the public official in Ontario, who can answer questions about the
      Ontario Securities Commission?s indirect collection of the Information,
      which are set out below:
	 	 	 	 	 
			 		
      Ontario Securities Commission
Suite 1903, Box
      5520 Queen Street West 
Toronto, Ontario M5H 3S8 
Telephone: (416)
      593-3682 
Facsimile: (416) 593-8252
Public official contact
      regarding indirect collection of information: 
Administrative Assistant
      to the Director of Corporate Finance 
Telephone (416) 593-8086,
    and

	 	 	 	 	 
		(b) 	
      has authorized the indirect collection of the Information
      by the Ontario Securities Commission.

	 	 	 	 	 
	5. 	
      if the Purchaser is resident in the Province of British
      Columbia or is subject to the laws of the Province of British Columbia,
      the Purchaser:

	 	 	 	 	 
		(a) 	is hereby notified by the Company
	 	 	 	 	 
			(i) 	
      of the delivery to the British Columbia Securities
      Commission of the Information (as defined in section 4(a)(i)(a)(i)
      hereof);

	 	 	 	 	 
			(ii) 	
      that the Information is being collected indirectly by the
      British Columbia Securities Commission under the authority granted to it
      in securities legislation,

	 	 	 	 	 
			(iii) 	
      that the Information is being collected for the purposes
      of the administration and enforcement of the securities legislation of
      British Columbia, and

	 	 	 	 	 
			(iv) 	
      that the Purchaser may contact the British Columbia
      Securities Commission for further information about the collection and use
      of the Information at the following address and telephone and facsimile
      numbers:

	 	 	 	 	 
			 		
British Columbia Securities Commission

        P.O. Box 10142, Pacific Centre 

        701 West Georgia Street 

        Vancouver, British Columbia V7Y 1L2 

        Telephone: (604) 899-6500

        Toll free in British Columbia and Alberta 1-800-373-6393 

        Facsimile: (604) 899-6506

     
	 	 	 	 	 
	6. 	the above representations, warranties and covenants will be
      true and correct both as of the execution of this certificate and as of
      the closing time of the purchase and sale of the Shares and will survive
      the completion of the issue of the Shares; and

8

	7. 	
      the foregoing representations, warranties and covenants
      are made by the undersigned with the intent that they be relied upon in
      determining the suitability of the undersigned as a Purchaser of the
      Shares and the undersigned undertakes to immediately notify the Company of
      any change in any statement or other information relating to the Purchaser
      set forth herein which takes place prior to the closing
  time.

DATED: _________________________, 2005. 

	 	 	Print Name 
	 	 	  
	 	By:	 
	 	 	Signature 
	 	 	  
	 	 	  
	 	 	Title 
	 	 	  
	 	 	  
	 	 	  
	 	 	(please print name of individual whose 
	 	 	signature appears above, if different from 
	 	 	name of purchaser printed above) 

9

SCHEDULE 1 TO APPENDIX A 

ACCREDITED INVESTOR

Accredited Investor (as defined in section 1.1 of
National Instrument 45-106) means:

[Note: Please initial the category of accredited investor
that applies to you.] 

	[________] 	(a) 	a Canadian financial institution, or a Schedule III bank, 
	  	  	  
	[________] 	(b)	the Business Development Bank of Canada incorporated
      under the Business Development Bank of Canada Act (Canada),
    

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

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

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

	  	  	  
	[________] 	(f)     	the Government of Canada or a jurisdiction of Canada,
      or any crown corporation, agency or wholly owned entity of the Government
      of Canada or a jurisdiction of Canada, 

	  	  	  
	[________] 	(g)     	a municipality, public board or commission in Canada
      and a metropolitan community, school board, the Comité de gestion de
      la taxe scolaire de l’île de Montréal or an inter-municipal
      management board in Québec; 

	  	  	  
	[________] 	(h)   	any national, federal, state, provincial, territorial
      or municipal government of or in any foreign jurisdiction, or any agency
      of that government, 

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

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

	  	  	  
	[________] 	(k)         	an individual whose net income before taxes exceeded
      CDN$200,000 in each of the 2 most recent calendar years or whose net income
      before taxes combined with that of a spouse exceeded CDN$300,000 in each
      of the 2 most recent calendar years and who, in either case, reasonably
      expects to exceed that net income level in the current calendar year, 

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

10

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

	  	  	 	      
	[ ________ ]	(n) 	an investment fund that distributes or has distributed
      its securities only to 
	  	  	 	      
	    	    	(i) 	a person that is or was an accredited investor at
      the time of the   distribution,   

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

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

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

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

	  	  	 	      
	[ ________ ]	(q)   	a person acting on behalf of a fully managed
      account managed by that person, if that person   

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

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

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

	  	  	 	      
	[ ________ ]	(s)   	an entity organized in a foreign jurisdiction
      that is analogous to any of the entities referred to in paragraphs (a) to
      (d) or paragraph (i) in form and function, 

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

	  	  	 	      
	[ ________ ]	(u) 	an investment fund that is advised by a person registered
      as an adviser or a   person that is exempt from registration
      as an adviser, or  
	  	  	 	      
	[ ________ ]	(v)   	a person that is recognized or designated
      by the securities regulatory authority or, except in Ontario and Québec,
      the regulator as   

	  	  	 	      
	  	  	(i) 	an accredited investor, or   

11

	 	 	(ii) 	
      an exempt purchaser in Alberta or British Columbia after
      National Instrument 45-106 comes into force.

For purposes hereof (as defined in National Instrument 45-106):
  

“financial assets” means 

(a) cash, 

(b) securities, or 

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

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

“investment fund” has the same meaning as in National
Instrument 81-106 Investment Fund Continuous Disclosure; 

“related liabilities” means 

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

(b) liabilities that are secured by
financial assets; 

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

Affiliate 

For the purpose of National Instrument 45-106, an issuer is an
  affiliate of another issuer if 

(a) one of them is the subsidiary of the other, or 

(b) each of them is controlled by the same person. 

Control 

Except in Part 2, Division 4 of National Instrument 45-106, and
for the purpose of this Instrument, a person (first person) is considered to
control another person (second person) if 

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

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

(c) the second person is a limited
partnership and the general partner of the limited partnership is the first
person.Filed by Automated Filing Services Inc. (604) 609-0244 - Digital Ecosystems Corp. - Exhibit 10.6

LOAN AGREEMENT 

THIS AGREEMENT, dated for reference the 5th
day of December, 2005, is made 

BETWEEN: 

CARNAVON TRUST REG., a domiciled
discretionary trust of Liechtenstein, having an address of Aeulestrasse 5,
FL-9490 Vaduz, Liechtenstein 

(the “Lender”); 

AND: 

DIGITAL ECOSYSTEMS CORP., a
Nevada company having an office address of 1313 East Maple Street, Suite 223,
Bellingham, Washington, USA, 98225 

(the “Borrower”). 

WHEREAS the Borrower wishes to borrow and the Lender is
willing to lend to the Borrower the sum of One Hundred Thousand Dollars in US
funds (US$100,000) on the terms hereinafter set out. 

NOW THEREFORE THIS AGREEMENT WITNESSES that in
consideration of the premises and the mutual covenants and agreements
hereinafter set forth, the parties hereto agree as follows: 

1. DEFINITIONS 

Where used in this Agreement, the following words and phrases
shall have the following meaning: 

	(a) 	
      “Agreement” means this Agreement and the schedules
      hereto, as at any time amended or modified and in effect;

	 	 
	(b) 	
      “Charter” means the Memorandum and Articles, the Articles
      and By-Laws or other constating documents of the Borrower, as at any time
      amended or modified and in effect;

	 	 
	(c) 	
      “Event of Default” means any event specified in
      subsection 7.1;

	 	 
	(d) 	
      “Lender’s Security” means the Note;

	 	 
	(e) 	
      “Loan” means the loan by the Lender to the Borrower
      established pursuant to subsection 3.1; and

	 	 
	(f) 	
      “Note” means the non-interest bearing promissory note to
      be made by the Borrower to the Lender as evidence of the Loan which shall
      substantially be in the form set out in Schedule
“A”.

2. INTERPRETATION 

2.1 Governing Law 

This Agreement is governed by the laws of the State of
Washington and the parties attorn to the non-exclusive jurisdiction of the
courts of Washington for the resolution of all disputes under this Agreement.

2.2 Severability 

If any one or more of the provisions contained in this
Agreement is found to be invalid, illegal or unenforceable in any respect, the
validity, legality and enforceability of the remaining provisions contained
herein will not in any way be affected or impaired thereby. 

2.3 Parties in Interest 

This Agreement enures to the benefit of and is binding on the
parties hereto and their respective successors and permitted assigns. 

2.4 Headings and Marginal References

The division of this Agreement into sections, subsections,
paragraphs and subparagraphs and the insertion of headings are for convenience
of reference only and do not affect the construction or interpretation of this
Agreement. 

2.5 Currency 

All statements of, or references to, dollar amounts in this
Agreement means lawful currency of the United States of America. 

3. THE LOAN 

3.1 Establishment of the Loan 

The Lender agrees, on the terms and conditions set forth in
this Agreement, to lend to the Borrower the sum of One Hundred Thousand Dollars
($100,000). 

3.2 Evidence of Indebtedness 

Indebtedness of the Borrower to the Lender in respect of the
Loan will be evidenced by the Note, which will be made by the Borrower to the
Lender at the time funds are advanced, a copy of which form is attached hereto
as Schedule “A”. 

3.3 Repayment of the Loan 

The Borrower will repay the Loan on or before December 5, 2006.
The Loan will be subject to interest payable to the Lender at maturity at a rate
of Twelve Percent (12%) per annum. The interest will be payable concurrently
with repayment of the principal amount of the Loan. In the event the Loan is
repaid on a date prior to the date of Maturity, interest will be paid on the
principal amount up to the date the Loan is repaid. 

- 2 -

3.4 Repayment of Loan 

The Borrower may repay the Loan at any time without penalty,
bonus or charges.

3.5 Conversion into Shares 

During the term of the Agreement or upon maturity, the Lender
will have the option to convert the Loan, or any portion thereof, into shares of
the Company at a price per share equal to the closing price of the Company’s
shares on the OTC.BB market on the day preceding notice from the Lender of its
intent to convert the Loan, or any portion thereof, into shares of the Company.
A Notice of Conversion is attached hereto as Schedule “B”. 

4. SECURITY FOR THE LOAN 

4.1 Costs, Charges and Expenses

The Borrower will assume and pay all costs, charges and
expenses, including reasonable solicitors’ costs, charges and expenses on a
special costs basis, which may be incurred by the Lender in respect of this
Agreement or the Lender’s Security or which may be incurred by the Lender in
respect of any proceedings taken or things done by the Lender in connection
therewith to collect, protect, realize or enforce the Lender’s Security. 

5. REPRESENTATIONS AND WARRANTIES 

5.1 Representations and Warranties

The Borrower represents and warrants to the Lender that: 

	(a) 	
      the Borrower is a corporation duly incorporated, validly
      existing and in good standing under the laws of the State of
  Nevada;

	 	 
	(b) 	
      the Borrower has all requisite corporate power and
      authority to enter into this Agreement and to grant the Lender’s Security
      and to carry out the obligations contemplated herein and
therein;

	 	 
	(c) 	
      this Agreement and the Lender’s Security have been duly
      and validly authorized, executed and delivered by the Borrower and are
      valid obligations of it; and

	 	 
	(d) 	
      no Event of Default and no event which, with the giving
      of notice or lapse of time would become an Event of Default, has occurred
      or is continuing.

5.2 Survival of Representations and
Warranties 

All representations and warranties made herein will survive the
delivery of this Agreement to the Lender and no investigation at any time made
by or on behalf of the Lender shall diminish in any respect whatsoever its
rights to rely on those representations and warranties. All statements contained
in any certificate or other instrument delivered by or on behalf of the Borrower
under or pursuant to this Agreement will constitute representations and
warranties made by the Borrower thereunder. 

- 3 -

6. COVENANTS OF THE BORROWER 

The Borrower covenants and agrees with the Lender that, at all
times during the currency of this Agreement, it will: 

	(a) 	
      pay the Loan and all other monies required to be paid to
      the Lender pursuant to this Agreement in the manner set forth
    herein;

	 	 
	(b) 	
      duly observe and perform each and every of its covenants
      and agreements set forth in this Agreement and the Lender’s
    Security;

	 	 
	(c) 	
      provide the Lender with immediate notice of any Event of
      Default; and

	 	 
	(d) 	
      do all things necessary to obtain and maintain the
      Lender’s Security in good standing and make payment of all fees and
      charges in respect thereto.

7. EVENT OF DEFAULT 

7.1 Definition of Event of Default

The Loan, costs and any other money owing to the Lender under
this Agreement will immediately become payable upon demand by the Lender or,
unless otherwise waived in writing by the Lender, in any of the following
events: 

	(a) 	
      if the Borrower defaults in any payment when due under
      this Agreement;

	 	 
	(b) 	
      if the Borrower commits any default under any of the
      Lender’s Security instruments;

	 	 
	(c) 	
      if the Borrower becomes insolvent or makes a general
      assignment for the benefit of its creditors, or if any order is made or an
      effective resolution is passed for the winding-up, merger or amalgamation
      of the Borrower or if the Borrower is declared bankrupt or if a custodian
      or receiver be appointed for the Borrower under the applicable bankruptcy
      or insolvency legislation, or if a compromise or arrangement is proposed
      by the Borrower to its creditors or any class of its creditors, or if a
      receiver or other officer with like powers is appointed for the
      Borrower;

	 	 
	(d) 	
      if the Borrower defaults in observing or performing any
      other covenant or agreement of this Agreement on its part to be observed
      or performed and such default has continued for a period of seven days
      after notice in writing has been given by the Lender to the Borrower
      specifying the default.

8. GENERAL 

8.1 Waiver or Modification 

No failure on the part of the Lender in exercising any power or
right hereunder will operate as a waiver of power or right nor will any single
or partial exercise of such right or power preclude any other right or power
hereunder. No amendment, modification or waiver of any condition of this
Agreement or consent to any departure by the Borrower therefrom will be
effective unless it is in writing signed by the Lender. No notice to or demand
on the Borrower will entitle the Borrower to any other further notice or demand
in similar or other circumstances unless specifically provided for in this
Agreement. 

- 4 -

8.2 Time 

Time is of the essence of this Agreement. 

8.3 Further Assurances 

The parties to this Agreement will do, execute and deliver or
will cause to be done, executed and delivered all such further acts, documents
and things as may be reasonably required for the purpose of giving effect to
this Agreement. 

8.4 Assignment 

The Borrower may not assign this Agreement or its interest
herein or any part hereof except with the prior written consent of the Lender.

9. NOTICES 

	9.1 	
      Any notice under this Agreement will be given in writing
      and may be sent by fax, telex, telegram or may be delivered or mailed by
      prepaid post addressed to the party to which notice is to be given at the
      address indicated above, or at another address designated by that party in
      writing.

	 	 
	9.2 	
      If notice is sent by fax, telex, telegram or is
      delivered, it will be deemed to have been given at the time of
      transmission or delivery.

	 	 
	9.3 	
      If notice is mailed, it will be deemed to have been
      received 48 hours following the date of mailing of the notice.

	 	 
	9.4 	
      If there is an interruption in normal mail service due to
      strike, labour unrest or other cause at or before the time a notice is
      mailed the notice will be sent by fax, telex, telegram or will be
      delivered.

10. AMENDMENTS 

This Agreement may be amended, waived, discharged, or
terminated only by instrument in writing signed by the party against whom
enforcement of the amendment, waiver, discharge or termination is sought. 

IN WITNESS WHEREOF the Lender and the Borrower have
executed and delivered this Agreement as of the day and year first written
above. 

CARNAVON TRUST REG. 

“Dr. Werner
Keicher”                                               

Per: Authorized Signatory 

DIGITAL ECOSYSTEMS CORP.

“G. Leigh
Lyons”                                                       

Per: Authorized Signatory 

- 5 -

SCHEDULE "A"

to the Loan Agreement dated for reference the 5th day
  of December, 2005 

  between Carnavon Trust Reg. and Digital Ecosystems Corp.

  ___________________________________________________________________________________________

PROMISSORY NOTE 

Principal Amount: US $100,000 

For value received, Digital Ecosystems Corp. (the
"Borrower") hereby promises to pay to Carnavon Trust Reg. (the "Lender")
the principal sum of One Hundred Thousand Dollars in US funds (US$100,000) on
the earlier of: 

	(i) 	
      December 5, 2006 :

	 	 
	(ii) 	
      any change of control of the Borrower ("control" being
      defined as ownership of or control of direction over, directly or
      indirectly, 20% or more of the outstanding voting securities of the
      Borrower); and

	 	 
	(iii) 	
      the occurrence of an Event of Default (as defined in the
      Loan Agreement between the Borrower and the Lender dated for reference
      December 5, 2005),

together with interest calculated at a rate of Twelve Percent
(12%) per annum accruing on the outstanding principal amount, payable at
maturity or upon repayment of the Loan. All payments under this promissory note
will be made by cheque, bank draft or wire transfer (pursuant to wire transfer
instructions provided by the Lender from time to time) and delivered to the
Lender. All payments made by the Borrower will be applied first to interest and
any other costs or charges owed to the Lender, then to principal. 

The undersigned is entitled to prepay this promissory note, in
whole or in part, without notice or penalty. The undersigned waives demand and
presentment for payment, notice of non-payment, protest, notice of protest and
notice of dishonor. This promissory note will be governed by and construed in
accordance with the laws of the State of Washington.

Dated: December 5, 2005. 

DIGITAL ECOSYSTEMS CORP. 

"G. Leigh
Lyons"                                                

Per: Authorized Signatory 

- 6 -

SCHEDULE "B" 

to the Loan Agreement dated for reference the 5th day
of December, 2005 
between Carnavon Trust Reg. and Digital Ecosystems
Corp.
___________________________________________________________________________________________ 

CONVERSION FORM 

TO: Digital Ecosystems Corp. (Company)

The undersigned Holder of a Loan in the amount of One Hundred
  Thousand Dollars in US funds (US$100,000) hereby irrevocably elects to convert
  the said Loan (or $ ______________ principal thereof) into common shares in
  accordance with the Terms and Conditions of the Loan Agreement and directs that
  the shares issuable and deliverable upon the conversion be issued and delivered
  to the address indicated below. 

	 	 
	 	 
	Dated: __________________________________________________	__________________________________________________
		 (Signature of
      Holder) 
	________________________________________________________	 
	(Name of Holder) 	 
	 	 
	________________________________________________________	 
	(Address of Holder) 	 
	 	 
	________________________________________________________	 
	 	 
	________________________________________________________	 

- 7 -

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