Document:

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                                                                     EXHIBIT 4.4

THIS SPECIAL WARRANT AND THE COMMON SHARES AND WARRANTS TO BE ISSUED UPON THE
EXERCISE THEREOF HAVE NOT BEEN REGISTERED UNDER UNITED STATES FEDERAL OR STATE
SECURITIES LAWS AND THE SPECIAL WARRANTS MAY NOT BE EXERCISED IN THE UNITED
STATES OR FOR THE ACCOUNT OR BENEFIT OF A PERSON IN THE UNITED STATES OR A U.S.
PERSON WITHOUT REGISTRATION OF SUCH SECURITIES UNDER ALL APPLICABLE UNITED
STATES FEDERAL AND STATE SECURITIES LAWS OR COMPLIANCE WITH AN APPLICABLE
EXEMPTION THEREFROM AND THE CORPORATION SHALL HAVE RECEIVED AN OPINION OF
COUNSEL TO SUCH EFFECT SATISFACTORY TO IT.

BY EXERCISING THIS SPECIAL WARRANT, THE HOLDER AGREES FOR THE BENEFIT OF THE
CORPORATION THAT THE COMMON SHARES AND WARRANTS TO BE ISSUED THEREBY MAY BE
OFFERED FOR SALE, SOLD OR OTHERWISE TRANSFERRED OR ASSIGNED FOR VALUE ONLY (i)
TO THE CORPORATION; (ii) OUTSIDE THE UNITED STATES IN ACCORDANCE WITH RULE 904
OF REGULATION S UNDER THE 1933 ACT; (iii) IN ACCORDANCE WITH RULE 144 UNDER THE
1933 ACT; OR (iv) IN A TRANSACTION THAT IS OTHERWISE EXEMPT FROM REGISTRATION
UNDER THE ACT AND STATE SECURITIES LAWS, PROVIDED THAT THE CORPORATION SHALL
HAVE RECEIVED AN OPINION OF COUNSEL SATISFACTORY TO IT AS TO THE AVAILABILITY OF
THE EXEMPTIONS RELIED ON.

WITHOUT PRIOR WRITTEN APPROVAL OF THE CANADIAN VENTURE EXCHANGE INC. AND
COMPLIANCE WITH ALL APPLICABLE SECURITIES LEGISLATION, THE SPECIAL WARRANTS AND
THE COMMON SHARES ISSUABLE UPON EXERCISE OF SUCH SPECIAL WARRANTS MAY NOT BE
SOLD, TRANSFERRED, HYPOTHECATED OR OTHERWISE TRADED ON OR THROUGH THE FACILITIES
OF THE CANADIAN VENTURE EXCHANGE INC. OR OTHERWISE IN CANADA OR TO OR FOR THE
BENEFIT OF A CANADIAN RESIDENT UNTIL MARCH 30, 2001.

                               MINERA ANDES INC.
                              (the "Corporation")

THE SPECIAL WARRANTS EVIDENCED HEREBY ARE EXERCISABLE UNTIL 4:30 P.M. (CALGARY
TIME) (THE "EXPIRY TIME") ON THE EARLIER OF: (I) FIVE (5) BUSINESS DAYS AFTER
THE DAY UPON RECEIPT OF A NOTICE FROM THE CORPORATION REQUESTING THE EXERCISE OF
THE SPECIAL WARRANTS; AND (II) NOVEMBER 30, 2002 (SUCH EARLIER DATE BEING
REFERRED TO AS THE "EXPIRY DATE"). ANY SPECIAL WARRANTS NOT EXERCISED PRIOR TO
THE EXPIRY TIME SHALL BE DEEMED TO BE EXERCISED, WITHOUT ANY FURTHER ACTION ON
THE PART OF THE HOLDER, IMMEDIATELY PRIOR TO THE EXPIRY TIME.

                          SPECIAL WARRANT CERTIFICATE
                          ---------------------------

================================================================================

  Special Warrant Certificate       Representing 1,175,000 Special Warrants,
  No. 00-SW001                      each Special Warrant entitling the holder to
                                    acquire, at no
================================================================================

                                      -1-
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================================================================================
                                    additional cost, one Common Share and one
                                    common share purchase warrant of the
                                    Corporation.
================================================================================

THIS IS TO CERTIFY that, N.A. Degerstrom, Inc., (hereinafter referred to as the
"holder" or "Special Warrantholder") is the registered holder of the number of
Special Warrants exercisable to acquire Common Shares (as hereinafter defined)
and Warrants (as hereinafter defined) of Minera Andes Inc. (the "Corporation")
as set forth in this special warrant certificate ("Special Warrant
Certificate"). Each Special Warrant shall entitle the holder to acquire one unit
("Unit") comprised of one Common Share of the Corporation ("Common Share") and
one common share purchase warrant ("Warrant") at no additional cost during the
period commencing on November 30, 2000 and ending at 4:30 p.m. (Calgary time)
(the "Expiry Time") on the earlier of: (i) five (5) business days after the day
upon receipt of a notice from the Corporation requesting the exercise of the
Special Warrants; and (ii) November 30, 2002 (such earlier date being referred
to as the "Expiry Date"). Any Special Warrants not exercised prior to the Expiry
Time shall be deemed to be exercised, without any further action on the part of
the holder, immediately prior to the Expiry Time.

One Warrant, upon exercise, shall entitle the holder to acquire one additional
common share of the Corporation ("Warrant Share") upon the payment of $0.20
(Canadian) per Warrant Share at any time until 4:30 p.m. (Calgary time) on the
first anniversary of the issuance date or upon payment of $0.25 (Canadian) per
Warrant at any time until 4:30 p.m. (Calgary time) on the second anniversary of
the issuance date. All Warrants shall expire on the second anniversary of the
issuance date (the "Warrant Expiry Date"). After the Warrant Expiry Date, the
Warrant shall be void and of no value.

The right to acquire the Common Shares and Warrants hereunder may only be
exercised by the holder within the time set forth above by (a) duly completing
and executing the exercise form attached hereto and (b) surrendering this
Special Warrant Certificate to the Corporation c/o Armstrong Perkins Hudson LLP,
1600, 407 - 2nd Street S.W., Calgary, Alberta, T2P 2Y3.

The Common Shares and Warrants acquired upon exercise of the Special Warrants
are sometimes referred to herein as the "Underlying Security".

This Special Warrant Certificate shall be deemed to be so surrendered only upon
personal delivery thereof to or, if sent by post or other means of transmission,
upon receipt thereof by the Corporation at the office specified in the Exercise
Form annexed hereto.

Upon due exercise of the Special Warrants represented hereby, the Corporation
shall cause to be issued to each person in whose name Common Shares and Warrants
so subscribed for are to be issued (provided that if the Common Shares and
Warrants are to be issued to a person other than a holder of this Special
Warrant, the Special Warrantholder's signature on the Exercise Form herein shall
be guaranteed by a Canadian chartered bank, by a Canadian trust company, or by a
member firm of any Canadian stock exchange and the Special Warrantholder shall
pay to the Corporation, all applicable transfer or similar taxes and the
Corporation shall not be required to issue or deliver Common Shares and Warrants
unless or until such Special Warrantholder shall have paid to the Corporation
the amount of such tax or shall have established to the satisfaction of the
Corporation that such tax has been paid or that no tax is due) the Common Shares
and Warrants, to be issued to such person and such person shall become a holder
of such Common Shares and Warrants with effect from the date of such exercise;
and upon due surrender of this Special Warrant Certificate the Corporation will
cause certificates evidencing such Common Shares and Warrants to be mailed to
such person at the address specified in such Exercise Form, or in the case of
the deemed exercise of this Special Warrant, to be mailed to the

                                      -2-
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address of the Special Warrantholder appearing in the register of Special
Warrants maintained by Corporation, within five business days after receipt of
notice from the holder by the Corporation of the exercise or deemed exercise of
this Special Warrant.

Upon presentation to the Corporation, c/o Armstrong, Perkins Hudson LLP,
certificates representing Special Warrants may be exchanged for certificates
representing in the aggregate an equal number of Special Warrants. The
Corporation may treat the registered holder of this Special Warrant Certificate
for all purposes as the absolute owner of the Special Warrants represented
hereby. The holding of the Special Warrants evidenced hereby shall not
constitute the holder hereof a holder of any of the Common Shares and Warrants,
nor entitle such holder to any right or interest in respect thereof except as
herein expressly provided.

Any Common Shares and Warrants issued upon exercise of the Special Warrants
prior to March 30, 2001 will be subject to a hold period and will be issued with
a legend reflecting such hold period.

After the Expiry Time, holders of Special Warrants which have not been exercised
or deemed to have been exercised have no rights under the Special Warrants
represented by this Special Warrant Certificate and the Special Warrants shall
thereafter be void and of no value or effect. All Special Warrants exercised or
deemed exercised shall be cancelled.

To the extent that the Special Warrantholder is entitled on the exercise or
partial exercise thereof to a fraction of an Underlying Security, such right may
only be exercised in respect of such fraction in combination with other Special
Warrants which in the aggregate entitle the holder to receive a whole number of
the Underlying Security. If the holder is not able or elects not to combine
Special Warrants so as to be entitled to acquire a whole number of the
Underlying Security the Corporation shall make an appropriate cash adjustment.
The amount of cash adjustment shall be equal to the fraction of the Underlying
Security to which the holder will be entitled multiplied by the market price of
the Underlying Security on the date of exercise.

The Special Warrantholder shall be deemed to have become the holder of record of
the Underlying Security on the date on which it exercises, or is deemed,
pursuant to this Special Warrant Certificate, to have exercised its Special
Warrants, unless the transfer books of the Corporation shall be closed by law on
said date of such exercise, in which case the Underlying Security will be deemed
to have been issued and such Special Warrantholder shall be deemed to have
become holder of record of such Underlying Security on the date on which such
transfer books are next reopened.

The Corporation shall not be required to deliver certificates representing the
Underlying Security during the period when the transfer books of the Corporation
are closed by law, and in the event of a surrender of a Special Warrant for the
acquisition of Underlying Security during such period, the delivery of
certificates may be postponed for a period not exceeding ten days after the date
of the reopening of the transfer books.

If and whenever at any time prior to the Expiry Time, there is a
reclassification of the common shares of the Corporation or a capital
reorganization of the Corporation or a subdivision or consolidation of the
common shares of the Corporation or an amalgamation, merger or other form of
business combination of the Corporation with or into any other body corporate,
trust, partnership or other entity, or a sale or conveyance of the property and
assets of the Corporation as an entirety or substantially as an entirety to any
other body corporate, trust, partnership or other entity or the payment of a
stock dividend, the Special Warrantholder, whose right of acquisition has not
been exercised prior to the effective date of such reclassification,
reorganization, subdivision, consolidation, amalgamation, merger, sale,
conveyance or payment, upon the exercise of such right thereafter, shall be
entitled to receive and shall accept, in lieu of the number of the

                                      -3-
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Underlying Security then sought to be acquired by him, a warrant to acquire the
number of shares or other securities or property of the Corporation or of the
body corporate, trust, partnership or other entity resulting from such merger,
amalgamation, or business combination, or to which such sale or conveyance may
be made, as the case may be, that the Special Warrantholder would have been
entitled to receive on such reclassification, capital reorganization,
subdivision, consolidation, amalgamation, merger, other business combination,
sale, conveyance or payment, if, on the record date or the effective date
thereof, as the case may be, the Special Warrantholder had been the registered
holder of the number of the Underlying Security sought to be acquired. If
determined appropriate by the Corporation to give effect to or to evidence the
provisions of this paragraph, the Corporation, its successor, or such purchasing
body corporate, partnership, trust or other entity, as the case may be, shall,
prior to or contemporaneously with any such reclassification, reorganization,
subdivision, consolidation, amalgamation, merger, sale, conveyance or payment
enter into an agreement which shall provide, to the extent possible, for the
application of the provisions set forth in this Special Warrant Certificate with
respect to the rights and interests thereafter of the Special Warrantholder to
the end that the provisions set forth herein shall thereafter correspondingly be
made applicable, as nearly as may reasonably be, with respect to any shares,
other securities or property to which the Special Warrantholder is entitled on
the exercise of his acquisition rights thereafter.

As a condition precedent to the taking of any action described in the foregoing
paragraph, the Corporation shall take any corporate action which may, in the
opinion of counsel to the Corporation, be necessary in order that the holders of
such Special Warrants are entitled to receive on the full exercise thereof in
accordance with the provisions hereof, the number of shares or other securities
or property of the Corporation or of the body corporate, trust, partnership or
other entity resulting from such merger, amalgamation, or business combination,
or to which such sale or conveyance may be made, as the case may be, that the
Special Warrantholder would have been entitled to receive on such
reclassification, capital reorganization, subdivision, consolidation,
amalgamation, merger, other business combination, sale, conveyance or payment,
if, on the record date or the effective date thereof, as the case may be, the
Special Warrantholder had been the registered holder of the number of the
Underlying Security sought to be acquired.

The adjustments provided for herein in the number and classes of securities
which are to be received on the exercise of Special Warrants, are cumulative.
After any adjustment pursuant hereto, the term "Underlying Security" where used
herein shall be interpreted to mean securities of any class or classes which, as
a result of all prior adjustments pursuant to this provision, the Special
Warrantholder is entitled to receive upon the exercise of the Special Warrant,
and the number of the Underlying Security indicated in an Exercise Form shall be
interpreted to mean the number of securities which, as a result of all prior
adjustments pursuant hereto, a Special Warrantholder is entitled to receive upon
the exercise of a Special Warrant.

In the event of any question arising with respect to the adjustments provided
for herein, such question shall be conclusively determined by the Corporation's
auditors (or, if they are unwilling to act, another firm of auditors
satisfactory to the Corporation) who shall have access to all necessary records
of the Corporation, and such determination shall be binding upon the
Corporation, the Special Warrantholder and all other interested persons.

The Corporation shall from time to time immediately after the occurrence of any
event which requires an adjustment or readjustment as provided herein, deliver a
certificate of the Corporation to each Special Warrantholder, at the address of
each Special Warrantholder appearing on the register of Special Warrants
maintained at the head office of the Corporation or at such other address as the
Special Warrantholder may have notified the Corporation, specifying the nature
of the event requiring the same and the adjustment

                                      -4-
<PAGE>

necessitated thereby and setting forth in reasonable detail the method of
calculation and the facts upon which such calculation is based.

The holding of the Special Warrants evidenced by this Special Warrant
Certificate shall not constitute the holder hereof a shareholder of the
Corporation nor entitle such holder to any right or interest in respect thereof
except as herein expressly provided.

This Special Warrant Certificate shall not be valid for any purpose whatsoever
unless and until it has been signed by or on behalf of the Corporation. Time
shall be of the essence hereof.

This Special Warrant Certificate may only be transferred on the registers to be
kept at the registered office of the Corporation by the registered holder hereof
or its executors or administrators or other legal representatives or its or
their attorney duly appointed by an instrument in writing in form and execution
satisfactory to the Corporation upon compliance with such reasonable
requirements as the Corporation may prescribe. The Transfer of the Special
Warrants represented by this Special Warrant Certificate may be restricted by
applicable securities laws. Special Warrantholders are advised to consult their
legal counsel in that regard.

The Special Warrants shall be governed by and performed, construed and enforced
in accordance with the laws of the Province of Alberta and shall be treated in
all respects as Alberta contracts.

IN WITNESS WHEREOF the Corporation has caused this Special Warrant Certificate
to be signed by its duly authorized officer as of the 30th day of November,
2000.

                                    MINERA ANDES INC.

                                    Per: /s/ "Allen Ambrose"
                                         ----------------------------------
                                         ALLEN AMBROSE, PRESIDENT

                                      -5-
<PAGE>

                                 EXERCISE FORM

TO:  Minera Andes Inc.
     c/o Armstrong Perkins Hudson LLP
     Suite 1600, 407 - 2nd Street S.W.
     Calgary, Alberta
     T2P 2Y3

The undersigned hereby exercises the right to acquire _________________ Common
Shares and Warrants of Minera Andes Inc. as constituted on November 30, 2000 (or
such number of other securities or property which such Special Warrants entitle
the undersigned to acquire in lieu thereof or in addition thereto under the
provisions of the accompanying Special Warrant Certificate) in accordance with
and subject to the provisions of such Special Warrant Certificate.

The Common Shares and Warrants (or other securities or property) are to be
issued as follows:

     Name: _____________________________________________________________________
               (print clearly)

     Address in full: __________________________________________________________

     ___________________________________________________________________________

     Social Insurance Number: __________________________________________________

     Number of Common Shares and  Warrants: ____________________________________

The undersigned hereby represents and warrants to the Corporation that the
undersigned (check one):

(a)  ________ it is not a U.S. Person and the Special Warrant is not being
exercised within the United States or on behalf of, or for the account or
benefit of, a U.S. Person or a person in the United States; or

(b)  ________ it was an original subscriber for Special Warrants who was a U.S.
Person at the time of acquisition of such Special Warrants and the
representations and warranties made by the undersigned in connection with the
acquisition of such Special Warrants remain true and correct on the date hereof.

(c)  ________ it has delivered herewith to the Trustee and the Corporation a
written opinion of counsel or other evidence satisfactory to the Corporation to
the effect that the Common Shares and Purchase Warrants have been registered
under the U.S. Securities Act and applicable state securities laws or are exempt
from registration thereunder; or

     Note:  If further nominees intended, please attach (and initial) schedule
     ----
giving these particulars.

Such securities (please check one):

(a) ________  should be sent by first class mail to the following address:

              __________________________________________________________________

                                      -6-
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              __________________________________________________________________

                                      OR

(b) ________  should be held for pick up at the office of Armstrong Perkins
              Hudson LLP.

If the number of Special Warrants exercised are less than the number of Special
Warrants represented hereby, the undersigned requests that the new Special
Warrant Certificate representing the balance of the Special Warrants be
registered in the name of ______________________________________________________

whose address is _______________________________________________________________

Such securities (please check one):

(a) ________  should be sent by first class mail to the following address:

              __________________________________________________________________

              __________________________________________________________________

                                 OR

(b) ________  should be held for pick up at the office of Armstrong Perkins
              Hudson LLP.

In the absence of instructions to the contrary, the securities or other property
will be issued in the name of or to the holder hereof and will be sent by first
class mail to the last address of the holder appearing on the register
maintained for the Special Warrants.

               DATED the __ day of _________, 20__.

                                    N.A. DEGERSTROM, INC.

                                    Per: _______________________________________
Signature Guaranteed                       (Signature of Special Warrantholder)

                                    ____________________________________________
                                    Print full name

                                    ____________________________________________
                                    Print full address

                                      -7-
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Instructions:

1    For the purposes of paragraph (c) above, the following words and phrases
     have the following meanings:

     "United States" and "U.S. Person" have the meaning given to such terms
     under Regulation S of the U.S. Securities Act. For purposes of Regulation
     S. "United States" means the United States of America, its territories and
     possessions, any statue of the United States and the District of Columbia.
     "U.S. Person" includes, with certain expectations, (i) any natural person
     resident in the United States; (ii) any partnership or corporation
     organized or incorporated under the laws of the United States; (iii) any
     estate of which any executor or administrator is a U.S. Person; (iv) any
     trust of which any trustee is a U.S. Person; (v) any agency or branch of a
     foreign entity located in the United States; (vi) any non-discretionary
     account or similar account (other than an estate or trust) held by a dealer
     or other fiduciary for the benefit or account of a U.S. Person; (vii) any
     discretionary account or similar account (other than an estate or trust)
     held by a dealer or other fiduciary organized, incorporated or (if any
     individual) resident in the United States; and (viii) any partnership or
     corporation if (a) organized or incorporated under the laws of any
     jurisdiction other than the United States and (b) formed by a U.S. Person
     principally for the purposes of investing in securities not registered
     under the U.S. Securities Act;

     "U.S. Securities Act" means the United States Securities Act of 1933, as
     amended;

2    The registered holder may exercise its right to receive Common Shares and
     Warrants by completing this Exercise Form and surrendering this form and
     the Special Warrant Certificate representing the Special Warrants being
     exercised to Minera Andes Inc. c/o Armstrong Perkins Hudson LLP, Suite
     1600, 407 - 2nd Street S.W., Calgary, Alberta, T2P 2Y3. Certificates for
     Common Shares and Warrants will be delivered or mailed within five business
     days after the exercise of the Special Warrants.

3    If the Exercise Form indicates that Common Shares and Warrants are to be
     issued to a person or persons other than the registered holder of the
     Certificate, the signature of such holder of this Exercise Form must be
                                                                     ----
     guaranteed by an authorized officer of a chartered bank, trust company or
     an investment dealer who is a member of a recognized stock exchange.

4    If the Exercise Form is signed by a trustee, executor, administrator,
     curator, guardian, attorney, officer of a corporation or any person acting
     in a fiduciary or representative capacity, the certificate must be
     accompanied by evidence of authority to sign satisfactory to Minera Andes
     Inc.

5    If the registered holder exercises its right to receive Common Shares and
     Warrants prior to March 30, 2001, the Common Shares and Warrants will be
     subject to a hold period and may be issued with a legend reflecting such
     hold period.

                                      -8-
<PAGE>

                                 Minera Andes Inc.
                       c/o Armstrong Perkins Hudson LLP
                       Suite 1600, 407 - 2nd Street S.W.
                               Calgary, Alberta
                                    T2P 2Y3

                          Telephone:  (403) 237-9050

                                      -9-
<PAGE>

                         TRANSFER OF SPECIAL WARRANTS

TO:  Minera Andes Inc.
     c/o Armstrong Perkins Hudson LLP
     Suite 1600, 407 - 2nd Street S.W.
     Calgary, Alberta  T2P 2Y3

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers to
___________________________________, _________________ Special Warrants of
Minera Andes Inc. registered in the name of the undersigned on the records of
the Corporation represented by the Special Warrant Certificate attached and
irrevocably appoints __________________ the attorney of the undersigned to
transfer the said securities on the books or register with full power of
substitution.

The Special Warrants which are being transferred (please check one):

(a)  __________ should be sent by first class mail to the following address:

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

(b)  __________ should be held for pick up at the office of the Corporation c/o
                Armstrong Perkins Hudson LLP at which this Special Warrant
                Certificate is deposited.

If less than all the Special Warrants represented by this Special Warrant
Certificate are being transferred, the Special Warrant Certificate representing
those Special Warrants not transferred will be registered in the name appearing
on the face of this Special Warrant Certificate and such certificates (please
check one):

(a)  __________ should be sent by first class mail to the following address:

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

(b)  __________ should be held for pick up at the office of the Corporation c/o
                Armstrong Perkins Hudson LLP at which this Special Warrant
                Certificate is deposited.

          DATED the _____ day of __________________, ______.

                        N.A. DEGERSTROM, INC.

                        Per: ___________________________________________________
Signature Guaranteed          (Signature of Warrantholder)(Authorized Signature)
(only if shares or
warrants in name other
than warrantholder)
                        ________________________________________________________
                        Print full name

                        ________________________________________________________
                        Print full address

Instructions:

                                      -10-
<PAGE>

6    Signature of the Warrantholder must be the signature of the person
     appearing on the face of this Special Warrant Certificate.

7    If the Transfer Form is signed by a trustee, executor, administrator,
     curator, guardian, attorney, officer of a corporation or any person acting
     in a judiciary or representative capacity, the certificate must be
     accompanied by evidence of authority to sign satisfactory to the Trustee
     and the Corporation.

8    The signature on the Transfer Form must be guaranteed by an authorized
     officer of a chartered bank, trust company or an investment dealer who is a
     member of a recognized stock exchange.

9    The Special Warrants shall only be transferable in accordance with
     applicable laws.

10   The Special Warrants and the Common Shares and Warrants issuable upon
     exercise thereof have not been registered under the United States
     Securities Act of 1933, as amended (the "U.S. Securities Act"), or the
     securities laws of any state of the United States, and may not be
     transferred in the United States or to a U.S. Person unless the Special
     Warrants and the Common Shares and Warrants have been registered under the
     U.S. Securities Act and the securities laws of all applicable states of the
     United States or an exemption from such registration requirements is
     available. In connection with any transfer of Special Warrants, the holder
     will be required to provide to the Trustee and the Corporation an opinion
     of counsel, or other evidence, in form reasonably satisfactory to the
     Corporation, to the effect that such transfer of Special Warrants does not
     require registration under the U.S. Securities Act or any applicable state
     laws and regulations governing the offer and sale of securities.

                                      -11-
<PAGE>

                               Minera Andes Inc.
                       c/o Armstrong Perkins Hudson LLP
                       Suite 1600, 407 - 2nd Street S.W.
                               Calgary, Alberta
                                    T2P 2Y3
                          Attention: Bonnie L. Kuhn
                          Telephone: (403) 237-9050

                                      -12-<PAGE>

                                                                   EXHIBIT 10.15

                               MINERA ANDES INC.

                   AMENDED STOCK OPTION PLAN - JUNE 23, 2000
                   -----------------------------------------

1.   Purpose
     -------

     The purpose of the Stock Option Plan (the "Plan") of Minera Andes Inc., a
body corporate incorporated under the Business Corporations Act (Alberta) (the
"Corporation"), is to advance the interests of the Corporation or any of its
subsidiaries or affiliates by encouraging the directors, officers, employees and
consultants of the Corporation or any of its subsidiaries or affiliates to
acquire shares in the Corporation, thereby increasing their proprietary interest
in the Corporation, encouraging them to remain associated with the Corporation
or any of its subsidiaries or affiliates and furnishing them with additional
incentive in their efforts on behalf of the Corporation or any of its
subsidiaries or affiliates in the conduct of their affairs.

2.   Administration and Granting of Options
     --------------------------------------

     The Plan shall be administered by the board of directors of the
Corporation. A majority of the board of directors shall constitute a quorum, and
the acts of a majority of the directors present at any meeting at which a quorum
is present, or acts unanimously approved in writing, shall be the acts of the
directors.

     Subject to the provisions of the Plan, the board of directors shall have
authority to construe and interpret the Plan and all option agreements entered
into thereunder, to define the terms used in the Plan and in all option
agreements entered into thereunder, to prescribe, amend and rescind rules and
regulations relating to the Plan and to make all other determinations necessary
or advisable for the administration of the Plan. All determinations and
interpretations made by the board of directors shall be binding and conclusive
on all participants in the Plan and on their legal personal representatives and
beneficiaries.

     Each option granted hereunder shall be evidenced by an agreement, signed on
behalf of the Corporation and by the optionee, in such form as the directors
shall approve. Each such agreement shall recite that it is subject to the
provisions of this Plan.

3.   Shares Subject to Plan
     ----------------------

     Subject to adjustment as provided in Section 15 hereof, the shares to be
offered under the Plan shall consist of shares of the Corporation's authorized
but unissued common shares. The aggregate number of shares to be delivered upon
the exercise of all options granted under the Plan (the "Options") shall not
exceed 10% of the Corporation's issued and outstanding common shares from time
to time, to a maximum of 6,000,000 shares. If any Option granted hereunder shall
expire or terminate for any reason without having been exercised in full, the
unpurchased shares subject thereto shall again be available for the purpose of
this Plan.

4.   Number of Optioned Shares
     -------------------------

     The number of shares subject to an Option to a Participant shall be
determined by the Board of Directors, but no Participant, upon the Corporation
becoming listed on any stock exchange, shall be granted an Option which exceeds
the maximum number of shares permitted by any stock exchange on which the common
shares are then listed or other regulatory body having jurisdiction.

5.   Vesting
     -------

     The Committee may, in its sole discretion, determine the time during which
Options shall vest and the method of vesting, or that no vesting restriction
shall exist.

                                      -1-
<PAGE>

6.   Maintenance of Sufficient Capital
     ---------------------------------

     The Corporation shall at all times during the term of the Plan reserve and
keep available such numbers of shares as will be sufficient to satisfy the
requirements of the Plan.

7.   Participation
     -------------

     Directors, officers, management, consultants and employees of the
Corporation shall be eligible for selection to participate in the Plan (such
persons hereinafter collectively referred to as "Participants"). The board of
directors shall determine to whom options shall be granted, the terms and
provisions of the respective option agreements, the time or times at which such
options shall be granted, and the number of shares to be subject to each option.
An individual who has been granted an option may, if he is otherwise eligible,
and if permitted under the policies of the stock exchange or stock exchanges on
which the shares of the Corporation are to be listed, be granted an additional
option or options if the directors shall so determine.

8.   Exercise Price
     --------------

     1.   The exercise price of the shares covered by each option shall be
          determined by the directors. Subject to the provisions of Section
          8(b), the exercise price shall be not less than the closing price of
          the Corporation's shares on the stock exchange or stock exchanges on
          which the shares of the Corporation are listed on the last trading day
          immediately preceding the day on which the stock exchange is notified
          of the proposed issuance of option, less any discounts permitted by
          the policy or policies of such stock exchange or stock exchanges;

     2.   If an option is granted within six months of a public distribution of
          the Corporation's shares by way of prospectus, then the minimum
          exercise price of such option shall, if the policy of such stock
          exchange or stock exchanges requires, be the greater of the price
          determined pursuant to Section 8(a) and the price per share paid by
          the investing public for shares of the Corporation acquired by the
          public during such public distribution, determined in accordance with
          the policy of such stock exchange or stock exchanges.

9.   Duration of Option
     ------------------

     Each Option and all rights thereunder shall be expressed to expire on the
date set out in the Option agreements and shall be subject to earlier
termination as provided in paragraphs 11 and 12.

10.  Option Period, Consideration and Payment
     ----------------------------------------

     1.   The Option period shall be a period of time fixed by the Committee,
          not to exceed the maximum period permitted by any stock exchange on
          which the common shares are then listed or other regulatory body
          having jurisdiction, provided that the Option period shall be reduced
          with respect to any Option as provided in Sections 11 and 12 covering
          cessation as a director, officer, employee or consultant of the
          Corporation or any of its subsidiaries or affiliates or death of the
          Participant.

     2.   Except as set forth in Sections 10(c), 11 and 12, no Option may be
          exercised unless the Participant is at the time of such exercise a
          director, officer, employee or consultant of the Corporation or any of
          its subsidiaries or affiliates.

     3.   Notwithstanding any other provision to the contrary, an Option granted
          to a consultant in connection with specific services provided or to be
          provided by that consultant shall be exercised only after the date of
          completion of such service and prior to 30 days following the date of
          completion of such service.

                                      -2-
<PAGE>

     4.   The exercise of any Option will be contingent upon receipt by the
          Corporation at its head office of a written notice of exercise,
          specifying the number of shares with respect to which the Option is
          being exercised, accompanied by cash payment, certified cheque or bank
          draft for the full purchase price of such shares with respect to which
          the Option is exercised. No Participant or his legal representatives,
          legatees or distributees will be, or will be deemed to be, a holder of
          any shares subject to an Option under this Plan, unless and until the
          certificates for such shares are issued to such persons under the
          terms of the Plan.

11.  Ceasing To Be a Director, Officer, Employee or Consultant
     ---------------------------------------------------------

     If a Participant shall cease to be a director, officer, employee or
consultant of the Corporation or any of its subsidiaries or affiliates for any
reason (other than death), the Participant may but only within 90 days next
succeeding the Participant's ceasing to be a director, officer, employee or
consultant, exercise the Participant's Option to the extent that the Participant
was entitled to exercise it at the date of such cessation.

     Nothing contained in the Plan nor in any Option granted pursuant to the
Plan shall confer upon any Participant any right with respect to continuance as
a director, officer, employee or consultant of the Corporation or any of its
subsidiaries or affiliates.

12.  Death of Participant
     --------------------

     In the event of the death of a Participant, the Option previously granted
to him shall be exercisable only within the twelve months next succeeding such
death and then only:

     1.   by the person or persons to whom the Participant's rights under the
          Option shall pass by the Participant's will or the laws of descent and
          distribution; and

     2.   if and to the extent that the Participant was entitled to exercise the
          Option at the date of the Participant's death.

13.  Rights of Optionee
     ------------------

     No person entitled to exercise an Option shall have any of the rights or
privileges of a shareholder of the Corporation in respect of any shares issuable
upon exercise of such Option until certificates representing such shares shall
have been issued and delivered.

14.  Proceeds from Sale of Shares
     ----------------------------

     The proceeds from sale of shares issued upon the exercise of Options shall
be added to the general funds of the Corporation and shall thereafter be used
from time to time for such corporate purposes as the Committee may determine and
direct.

15.  Adjustments
     -----------

     If the outstanding shares of the Corporation are increased, decreased,
changed into or exchanged for a different number or kind of shares of securities
of the Corporation through re-organization, merger, re-capitalization, re-
classification, stock dividend, subdivision or consolidation, an appropriate and
proportionate adjustment shall be made in the maximum number or kind of shares
as to which options may be granted under the Plan. A corresponding adjustment
changing the number or kind of shares allocated to unexercised options or
portions thereof, which shall have been granted prior to any such change, shall
likewise be made. Any such adjustment in the outstanding options shall be made
without change in the aggregate purchase price applicable to the unexercised
portion of the option but with a corresponding adjustment in the price for each
share or other unit of any security covered by the option.

                                      -3-
<PAGE>

     Upon the liquidation or dissolution of the Corporation or upon a re-
organization, merger or consolidation of the Corporation with one or more
corporations as a result of which the Corporation is not the surviving
corporation, or upon the sale of substantially all of the property or more than
eighty (80%) percent of the then outstanding shares of the Corporation to
another corporation, the Plan shall terminate, and any options theretofore
granted hereunder shall terminate unless provision is made in writing in
connection with such transaction for the continuance of the Plan and for the
assumption of options theretofore granted, or the substitution for such options
of new options covering the shares of a successor employer corporation, or a
parent or subsidiary thereof, with appropriate adjustments as to number and kind
of shares and prices, in which event the Plan and options theretofore granted
shall continue in the manner and upon the terms so provided. If the Plan and
unexercised options shall terminate pursuant to the foregoing sentence all
persons then entitled to exercise an unexercised portion of options then
outstanding shall have the right at such time immediately prior to consummation
of the event which results in the termination of the Plan as the Corporation
shall designate, to exercise their options to the full extent not theretofore
exercised.

     Adjustments under this Section shall be made by the board of directors
whose determination as to what adjustments shall be made, and the extent
thereof, shall be final, binding and conclusive. No fractional share shall be
issued under the Plan on any such adjustment.

16.  Transferability
     ---------------

     All benefits, rights and Options accruing to any Participant in accordance
with the terms and conditions of the Plan shall not be transferrable or
assignable unless specifically provided herein. During the lifetime of a
Participant any benefits, rights and Options may only be exercised by the
Participant.

17.  Amendment and Termination of Plan
     ---------------------------------

     The Committee may, at any time, suspend or terminate the Plan. The board
may also at any time amend or revise the terms of the Plan, PROVIDED that no
such amendment or revision shall alter the terms of any Options theretofore
granted under the Plan.

18.  Necessary Approvals
     -------------------

     The ability of the Options to be exercised and the obligation of the
Corporation to issue and deliver shares in accordance with the Plan is subject
to any approvals which may be required from the shareholders of the Corporation,
any regulatory authority or stock exchange having jurisdiction over the
securities of the Corporation. If any shares cannot be issued to any Participant
for whatever reason, the obligation of the Corporation to issue such shares
shall terminate and any Option exercise price paid to the Corporation will be
returned to the Participant.

     Options issued to residents of the United States may only be issued and
subsequently exercised in conformity with the registration provisions of the
Securities Act of 1933, as amended the rules and regulations thereto and the
applicable state securities laws.

19.  Prior Plans
     -----------

     The Plan shall entirely replace and supersede prior share options plans, if
any, enacted by the Board of Directors of the Corporation or its predecessor
corporations.

20.  Stock Exchange Rules
     --------------------

     The rules of any stock exchange upon which the Corporation's Shares are
listed shall be applicable relative to options granted to Participants.

21.  Effective Date of Plan
     ----------------------

                                      -4-
<PAGE>

     The Plan has been adopted by the Committee subject to the approval of any
stock exchange on which the shares of the Corporation are to be listed or other
regulatory body having jurisdiction and, if so approved, the Plan shall become
effective upon such approvals being obtained.

     IN WITNESS WHEREOF the Corporation has caused its corporate seal to be
affixed hereto in the presence of its officers duly authorized in that behalf as
of the 23rd day of June, 2000.

                                        MINERA ANDES INC.

                                        Per: /s/ Allen V. Ambrose         (c/s)
                                             -----------------------------

                                        Per: /s/ Bonnie Kuhn
                                             ----------------------------------

                                      -5-

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