Document:

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                                                                   EXHIBIT 10.24

                     AGREEMENT OF ASSIGNMENT AND ASSUMPTION

     THIS AGREEMENT OF ASSIGNMENT AND ASSUMPTION (the "Assignment Agreement") is
dated effective as of the 14th day of October, 2004, by and between Nord
Resources Corporation, a Delaware corporation (the "Assignor"), on the one hand
and Ronald A. Hirsch, an individual residing in the county of Orange, State of
California ("Hirsch") and Stephen D. Seymour, an individual residing in the
county of Baltimore, State of Maryland ("Seymour", and collectively with Hirsch,
the "Assignees") on the other hand.

                                    RECITALS

     WHEREAS, since May 20, 2004, the Assignor has been pursuing an opportunity
(the "Opportunity") to acquire certain assets from ASARCO Incorporated, a New
Jersey corporation ("ASARCO"), which assets comprise the entire Tennessee Mines
Division zinc business as conducted by ASARCO and consisting of the Young, Immel
and Coy mines, the Young Concentrator and the Middle Tennessee exploration
properties, including in all cases the operations, impoundments, processing and
other facilities incidental and ancillary to each of the foregoing
(collectively, the "TMD Assets");

     WHEREAS, as a result of the development efforts of the Assignor, the
Assignor has been selected by ASARCO as the primary candidate it will negotiate
with for the acquisition of the TMD Assets, and as to which the Assignor has
received versions of a draft Asset Purchase Agreement (the "Purchase Agreement")
for negotiation and execution;

     WHEREAS, the Assignor has entered into a bridge loan agreement with
Regiment Capital III, L.P., a Delaware limited partnership (the "Lender"),
pursuant to which the Assignor entered into, executed and delivered to Lender a
Promissory Note, a Security Agreement, a Pledge and Security Agreement, and
certain other documents (collectively, the "Loan Documents"), which Loan
Documents contain certain affirmative and negative covenants which with the
Assignor must abide during the pendency of the bridge loan, and which, among
other things, will restrict the Assignor from using its capital resources to
make an investment in, or conduct any business with respect to, the TMD
Opportunity without its prior written consent (and, as to which, the Lender has
advised this Board of Directors of the Assignor that it will not consent to the
Assignor undertaking the TMD Opportunity at this time or within the foreseeable
future);

     WHEREAS, the Assignees have expressed their willingness to assume from the
Assignor all of its rights and interests in the TMD Opportunity, including
without limitation under the Purchase Agreement (collectively, the "TMD
Rights"), to fund such further development expenses as are necessary to complete
the acquisition of and exploit commercially the TMD Opportunity independent of
the Assignor (the "Post-Development Expenses"), and to "reserve" the place of
the Assignor with respect to such

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TMD Opportunity until such time as the Lender may consent to its re-acquisition
of the TMD Rights from, and as further developed by, the Assignees; and

     WHEREAS, in consideration for the assignment of the TMD Rights to the
Assignees as contemplated herein, the Assignees shall provide to the Assignor a
right of first refusal and option to acquire (the "TMD Option Rights") the TMD
Rights from the Assignees upon the payment to the Assignees of the
Post-Development Expenses plus such premium for taking the risks of development
of the TMD Opportunity as the parties may mutually agree (and as established as
fair and reasonable to the Assignor by an independent person with experience in
the valuation of business opportunities in the mining industry generally)
("Premium").

1. ASSIGNMENT OF RIGHTS AND ASSUMPTION OF OBLIGATIONS

     (a) ASSIGNMENT OF RIGHTS. Assignor hereby assigns all of its right, title
and interest in and to the TMD Rights to the Assignees unless, and until such
time as, the Assignor shall exercise the TMD Option Rights acquire the TMD
Rights from the Assignees pursuant to the Agreement of Option and Right of First
Refusal, attached hereto as Exhibit A, and made an integral part hereof (the
"Option Agreement"). At such time as the Assignor exercises the TMD Option
Rights, all of Assignees' right, title and interest in and to the TMD Rights
shall revert back to the Assignor, and, in such event and at such time, the
Assignees agree to execute such documents as shall be necessary and reasonably
requested by the Assignor in confirmation of the foregoing provisions of this
Section 1(a).

     (b) ASSUMPTION OF OBLIGATIONS. The Assignees hereby accept the assignment
of the TMD Rights and agree to undertake and assume the performance of the
duties and obligations of Assignor thereunder, accruing or arising after the
date hereof (the "Obligations").

     (c) Each party hereto agrees that it shall execute or cause to be executed
promptly after request by the other, such documents or instruments as may be
reasonably required for the purpose of or in connection with the assignment by
the Assignor of the TMD Rights or the assumption by the Assignees of the
Obligations pursuant to this Assignment Agreement.

     (d) Notwithstanding anything contained herein, to the extent the consent of
any third party is required as a condition to the assignment of the TMD Rights,
the Assignment, insofar as it encompasses such TMD Rights, shall not be
effective unless and until such consent shall have been obtained and Assignor
shall: (a) until such time as such consent shall have been obtained, to the
extent possible obtain for the Assignees the benefits of such TMD Rights as
though the Assignment had been effective with respect to such TMD Rights; and
(b) be obligated to obtain the consent of such third party. At such time as
Assignor shall obtain the required consent to the assignment of any TMD Rights
retained by Assignor pursuant to Section 1(a), the Assignment shall immediately
become effective in accordance with the terms of this Assignment Agreement
without the need

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for further action or further documentation by either party hereto. This Section
1(d) shall not apply to any transfer that does not require any third party's
consent.

2. CONSIDERATION. As consideration for the Assignment of the TMD Rights, the
Assignees shall grant the Assignor the TMD Option Rights, pursuant to the Option
Agreement, to purchase the TMD Rights upon payment in the amount equal to the
aggregate of the Post-Development Expenses and the Premium.

3. REPRESENTATIONS AND WARRANTIES

     (a) REPRESENTATIONS OF ASSIGNOR. The Assignor hereby represents and
warrants to the Assignees, as of the date hereof, the following

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

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

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

     (b) REPRESENTATIONS AND WARRANTIES OF ASSIGNEES. Assignees hereby represent
and warrant to Assignor, as of the date hereof, the following:

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

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

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4. INDEMNIFICATION. Each party hereby agrees to indemnify and hold harmless the
other, together with such party's officers, directors, partners, shareholders,
employees, agents and representatives, as applicable, (collectively, the
"Indemnified parties"), from and against any loss, cost, damage, claim, charge,
set-off, encumbrance or other obligation or liability (a "Liability") resulting
from or arising out of any material breach of such party's duties, obligations
or requirements hereunder including, without limitation, any and all claims from
third parties against any Indemnified party as a result thereof (a "Third-party
Claim"). Such indemnification shall cover, without limitation, the right to
reimbursement of reasonable attorneys' fees, expenses and costs of litigation,
arbitration, mediation and/or settlement. Payment to the Indemnified parties,
and any of them, shall be made upon notice to the party or parties from whom
indemnification may properly be sought hereunder (the "Indemnifying party") that
a Liability has arisen (or, to the extent that notice has been previously
delivered, that such Liability is continuing), together with any invoice or
other demand for payment to any party, including an attorney defending against
or prosecuting the same, and the Indemnifying party shall promptly furnish
payment thereon as directed in such notice. This Section 4 shall survive
termination and/or expiration of this Assignment Agreement and the TMD Rights
granted herein.

5. GENERAL PROVISIONS.

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

          If to Assignor:              Nord Resources Corporation
                                       3048 North Seven Dash Road
                                       Dragoon, Arizona 85609
                                       Tel: (520) 586-2241
                                       Fax: (520) 586-7020
                                       Attn: Erland A. Anderson
                                             President

          with a copy (which shall
          not constitute notice) to:   August Law Group, P.C.
                                       19200 Von Karman Avenue, Suite 500
                                       Irvine, California 92612
                                       Tel: (949) 752-7772
                                       Fax: (949) 752-7776
                                       Attn: Kenneth S. August, Esq.
                                             President

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          If to Hirsch:                Ronald A. Hirsch
                                       668 North Coast Highway, #171
                                       Laguna Beach, California 92651
                                       Tel: (949) 715-6745
                                       Fax: (949) 715-6746

          If to Seymour:               Stephen Seymour
                                       1308 Wine Spring Lane
                                       Baltimore Maryland 21204
                                       Tel: (410) 369-6600
                                       Fax: (___) ___-____

or to such other address or addresses as such parties may indicate by written
notice sent in accordance with this Section 5(a).

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

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

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

     (e) SPECIFIC PERFORMANCE; REMEDIES CUMULATIVE. The parties hereby agree
with each other that, in the event of any breach of this Assignment Agreement by
any party where such breach may cause irreparable harm to any other party, or
where

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monetary damages may not be sufficient or may not be adequately
quantified, then the affected party or parties shall be entitled to specific
performance, injunctive relief or such other equitable remedies as may be
available to it, which remedies shall be cumulative and non-exclusive, and in
addition to such other remedies as such party may otherwise have at law or in
equity.

     (f) SEVERABLE PROVISIONS. Should any provision of this Assignment
Agreement, be declared illegal or unenforceable by any court of competent
jurisdiction, and cannot be modified to be enforceable, such provision shall
immediately become null and void, leaving the remainder of this Agreement in
full force and effect.

     (g) AMENDMENT. This Assignment Agreement may not be changed or amended,
except by a writing signed by each of the parties hereto.

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

     IN WITNESS WHEREOF, the parties hereto have executed this Assignment
Agreement as of the date first above written.

ASSIGNOR

NORD RESOURCES CORPORATION              ATTEST

By: /s/ Erland Anderson                 By: /s/ Kathy Glidewell
    ---------------------------------       ------------------------------------
Name: Erland Anderson                   Name: Kathy Glidewell
Title: President                        Title: Secretary
Date: 9/9/05                            Date: 9/8/05

ASSIGNEES

By: /s/ Ronald A. Hirsch                By: /s/ Stephen D. Seymour
    ---------------------------------       ------------------------------------
Name: Ronald A. Hirsch                  Name: Stephen D. Seymour
Date: Sept 6, 2005                      Date:
                                              ----------------------------------

                                        6<PAGE>
                                                                   EXHIBIT 10.25

                              SETTLEMENT AGREEMENT
                                       AND
                           MUTUAL AND GENERAL RELEASE

This Settlement Agreement (the "Agreement") is made and entered into effective
as of the 31st day of October, 2004, by and between Nord Resources Corporation,
a Delaware corporation (the "Company") and Shuler Messersmith Daly & Landsdowne,
a New Mexico partnership ("SMDL"), directly as well as on behalf of their
respective employees, owners, shareholders, officers, directors, partners,
associates, attorneys, predecessors, successors, assigns, heirs, spouses, former
spouses, firms, brokers, appraisers, business entities and corporations, and
each and all of them, as appropriate in context (and as further specifically
referenced in the terms of this Agreement), and is based upon the following
Recitals:

                                    RECITALS

     WHEREAS, SMDL is in the business of providing legal services for
compensation, and has its principal place of business in the City of
Albuquerque, State of New Mexico;

     WHEREAS, the Company has incurred indebtedness to SMDL in the principal
amount of One Hundred and Ten Thousand Two Hundred and Fifty-Five Dollars and
Twenty Eight Cents ($110,255.28) (the "Debt"), which is comprised of One Hundred
Thousand Five Hundred and Eighteen Dollars and Forty Nine Cents ($100,518.49)
for legal services rendered prior to the date hereof, plus simple interest
accruing thereupon at six percent (6%) per annum from May 2, 2003 through
November 1, 2004 in the amount of Nine Thousand Two Hundred and Seventeen
Dollars and Nineteen Cents ($9,217.19), plus Five Hundred and Nineteen Dollars
and Sixty Cents ($519.60) for payment by SMDL on behalf of the Company to third
party vendors for direct mail services;

     WHEREAS, the Company is presently engaged in efforts to raise funds in the
aggregate amount of at least Fifteen Millions Dollars (the "Funding"); and

     WHEREAS, the Company has requested, and SMDL has agreed, to accept in full
settlement of the Debt, monthly payments in the amount of Two Thousand Five
Hundred Dollars ($2,500) beginning November 1, 2004, payable on or before the
tenth day of each month, and accruing simple interest on the unpaid principle
amount at the rate of 6% per annum from November 1, 2004, with the balance to be
paid within fifteen (15) days following the closing by the Company of the
Funding, or, if earlier, November 1, 2005.

          NOW, THEREFORE, in consideration of the terms, conditions and
covenants herein and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, SMDL and the Company
(collectively, the "Parties"), intending to be legally bound, hereby agree as
follows:

<PAGE>

                                    AGREEMENT

1.   Nature of Agreement.

     This Agreement constitutes a fully executed settlement instrument, accord
and satisfaction, and a general, specific and mutual release of all claims by
each of the Parties in connection with the Debt, and of all other claims of
whatever nature, whether or not expressly referred to in the Recitals, between
the Parties and their respective directors, officers, shareholders, partners,
employees, predecessors, successors, heirs, assigns, attorneys, parent
corporations, subsidiaries, divisions, or affiliated corporations or
organizations other than the express obligations of the Parties as set forth
herein.

2.   Terms of Agreement.

     2.1  Consideration. The Parties have agreed to the following consideration,
          on the terms and conditions recited, for a full and complete
          settlement of the Debt between them.

          (a)  Payment. The Company shall pay the Debt to SMDL as follows:
               Monthly, in equal installments in the amount Two Thousand Five
               Hundred Dollars ($2,500), payable by the tenth day of each month,
               beginning November 1, 2004 and continuing thereafter. Interest on
               the unpaid principal amount shall accrue from and after November
               1, 2004 at the rate of six percent (6%) per annum. The balance of
               the unpaid principle and all accrued but unpaid interest shall be
               due and payable upon the earlier to occur of (i) within fifteen
               (15) days following the closing of the Funding; and (ii) November
               1, 2005.

          (b)  SMDL's Waiver and Release. Upon execution of this Agreement and
               except for the obligations of the Company expressly created by
               this Agreement, including without limitation the obligation
               referred to in Section 2.1(a) above, SMDL waives, releases and
               discharges the Company and its, directors, officers,
               shareholders, employees, agents, predecessors, successors, heirs,
               assigns, attorneys, parent corporations, subsidiaries, divisions,
               or affiliated corporations or organizations as to any claims of
               SMDL against the Company, or of any obligations of the Company to
               SMDL, to any successor in interest or related party of SMDL, or
               to any party, entity or person claiming any interest by or
               through SMDL (whether directly or by operation of law or any
               legal proceeding), in consideration for the release by the
               Company of any claims against SMDL, its partners, employees and
               agents and for the other consideration provided by the Company in
               this Agreement. SMDL hereby waives, releases and discharges any
               and all claims and potential claims against the Company, its,
               directors, officers, shareholders, employees, and agents and
               extends a full, complete and unqualified release to the Company
               its, directors, officers, shareholders, employees, and agents as
               to all

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               claims and potential claims, other than the obligations of the
               Company expressly created by this Agreement.

          (c)  The Company's Waiver and Release. Upon execution of this
               Agreement and except for the obligations of the SMDL expressly
               created by this Agreement, the Company waives, releases and
               discharges SMDL, its partners, employees and agents from any
               claim or obligation to the Company, to any successor in interest
               or related party to the Company, or to any party, entity or
               person claiming any interest by or through the Company (whether
               directly or by operation of law or any legal proceeding), in
               consideration for the release by SMDL of any claims against the
               Company, its, directors, officers, shareholders, employees, and
               agents, and for the other consideration provided by SMDL in this
               Agreement. The Company hereby waives, releases and discharges any
               other claims and potential claims against SMDL, its partners,
               employees and agents, and extends a full, complete and
               unqualified release to SMDL, its partners, employees and agents
               as to all claims and potential claims, other than the obligations
               of SMDL expressly created by this Agreement.

     2.2  Representations and Warranties.

          (a)  The Parties each represent and warrant to the other, as to itself
               only, and as of the date hereof, that it has not assigned,
               conveyed or transferred, or purported to assign, convey or
               transfer to any person, firm or corporation, either voluntarily
               or involuntarily, any claim, cause of action, or right based on,
               or arising out of, or in connection with any matter, fact, or
               anything described or referred to in the Recitals. To the extent
               any Party has assigned or transferred any claim, cause of action,
               or right based on or arising out of these matters, whether
               voluntarily or involuntarily, or otherwise breached this
               warranty, said Party agrees to defend, indemnify and hold
               harmless the other Party and its predecessors, successors,
               assigns, representatives, trustees, directors, officers, spouses,
               former spouses, agencies, shareholders, beneficiaries, agents,
               employees, insurers, receivers, attorneys, and each of them, from
               and against any claim, demand, debt, liability, account,
               obligation, cost, damage expense, lien, action or cause of action
               (including payment of legal fees and costs) based on or arising
               out of, or in connection with, any such transfer, conveyance or
               assignment, or the purported or claimed transfer, conveyance or
               assignment.

          (b)  Each Party further hereby represents and warrants to the other
               Party that the persons signing this Agreement are the lawful
               representatives of such Party, have full power and authority to
               execute and deliver this Agreement to the other, and that such
               Party has full power and authority to enter into and perform this
               Agreement, which Agreement

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               constitutes the full agreement of the Parties with respect
               thereto, and is the valid and obligation of such Party,
               enforceable against it in accordance with its terms.

     2.3. Attorneys Fees and Costs. The Parties each hereby agree that each will
          bear their own costs and attorneys' fees incurred in connection with
          all matters reserved by this Agreement, except as otherwise provided
          in Section 3, hereof.

3.   Remedies in the Event of a Breach.

     In the event of a breach of this Agreement, all legal and equitable
remedies may be employed to enforce the terms hereof, including, but not limited
to, temporary restraining orders and preliminary injunctions, the support for
which will be based on this Agreement and declarations or other prima facie
proof of a violation of the terms hereof. In the event of a violation of this
Agreement, the prevailing party will be entitled to recover from the losing
party the prevailing party's reasonable attorney's fees and costs incurred in
connection therewith.

4.   Liquidated Damages.

     THE COMPANY AND SMDL, DESIRING TO AVOID LITIGATION BETWEEN THEM AS TO THE
DAMAGES SUFFERED IN THE EVENT OF A BREACH OF THIS AGREEMENT BY THE COMPANY, WISH
TO ESTABLISH LIQUIDATED DAMAGES IN THE EVENT THE COMPANY DEFAULTS UPON ITS
PAYMENT OBLIGATIONS HEREUNDER. ACCORDINGLY, THE COMPANY AND SMDL EACH HEREBY
AGREE THAT, IF THE COMPANY COMMITS SUCH A DEFAULT, SMDL SHALL RECEIVE FROM THE
COMPANY, IN ADDITION TO ALL AMOUNTS OTHERWISE OWED HEREUNDER, INCLUDING WITHOUT
LIMITATION, THE AMOUNT OF THE DEBT STILL OWING AT THE TIME OF THE DEFAULT AND
OTHER AMOUNTS OWED UNDER THIS AGREEMENT, AS LIQUIDATED DAMAGES AND NOT AS A
PENALTY, THE SUM OF THIRTY THOUSAND TWO HUNDRED AND FORTY NINE DOLLARS AND
NINETY NINE CENTS ($30,249.99) PLUS SIMPLE INTEREST AT SIX PERCENT (6%) PER
ANNUM FROM THE DATE OF SUCH DEFAULT UNTIL PAID.

5.   Successors.

     This Agreement is binding upon and shall inure to the benefit of the
Parties and each party's respective successors, assigns, heirs, spouses, agents
and personal representatives.

6.   Interpretation.

     The Parties acknowledge and agree that they have been given the opportunity
to independently review this Agreement with legal counsel prior to acceptance
and

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<PAGE>

agreement to the particular language and provisions. In the event of an
ambiguity in, or dispute regarding the interpretation of same, the
interpretation of this Agreement shall not be resolved by any rule of
interpretation providing for interpretation against the party who causes the
uncertainty to exist or against the drafts.

7.   Counterparts; Integration; Facsimile.

     This Agreement may be signed in any number of counterparts, each of which
shall be an original, with the same effect as if the signatures thereto and
hereto were upon the same instrument. This Agreement constitutes the entire
agreement and understanding among the parties hereto and supersede any and all
prior agreements and understandings, oral or written, relating to the subject
matter hereof. A facsimile of an original signature on any document or
instrument, including this Agreement, shall be deemed an original signature for
all purposes.

8.   Terms Mutually Independent.

     Each provision of this Agreement is independent of each other provision,
except that this Agreement shall only be effective upon full performance as to
the recited consideration and the extension of the full, complete, mutual,
general and specific releases.

9.   Waiver, Modification and Amendment

     No provisions of this Agreement may be waived unless in writing and signed
by all Parties. Waiver of any one provision shall not be deemed to be a waiver
of any other provision. This Agreement may be modified or amended only by a
later writing signed by the Parties.

10.  Related Documents

     The Parties authorize, entrust and direct their attorneys of record to
execute all documents necessary and to take all actions necessary to accomplish
and carry out the terms of this Agreement, and the Parties agree to execute all
documents reasonably required in order to effectuate the terms of this
Agreement.

11.  Construction and Jurisdiction

     This Agreement shall be construed in accordance with the laws of the State
of New Mexico. In the event of any breach of this Agreement, or other proceeding
required to enforce the terms or declare the rights of the parties, said dispute
shall be the subject of binding arbitration under the Commercial Rules of the
American Arbitration Association and shall be venued in Bernalillo County, New
Mexico.

12.  Titles and Captions

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<PAGE>

     Paragraph titles and captions contained in this Agreement are inserted only
as a matter of convenience and for reference and in no way define, limit, extend
or describe the scope of this Agreement or the intent of any provision.

13.  Notices

     All notices required under this Agreement shall be deemed effective if
served by telecopier or, in the option of the sender, by Federal Express or
other overnight delivery system, and shall be forwarded to the Parties as
follows:

     If to the Company:           Nord Resources Corporation
                                  9947 North Calle Solano
                                  Tucson, AZ 85737
                                  Attn: Erland Anderson
                                  President
                                  Tel: (520) 544-4893
                                  Fax: (520) 219-1877

     With a Copy (which shall)
     not constitute notice) to:   August Law Group, P.C.
                                  The Atrium Building
                                  19200 Von Karman Avenue, Suite 500
                                  Irvine, CA 92612
                                  Attn: Kenneth S. August, Esq.
                                  Telecopier: (949) 752-7776

     It of SMDL:                  Shuler, Messersmith, Daly &
                                  Landsdowne
                                  2155 Louisiana., NE
                                  Suite 8500
                                  Albuquerque, NM 87110
                                  Attn: Joseph K. Daly, Esq.
                                  Tel: (505) 872-0800
                                  Fax: (505) 872-0900

     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
signed on the date and year written below.

                                        SHULER, MESSERSMITH, DALY &
                                        LANDSDOWNE

Dated: November 10, 2004                By: /s/ Joseph K. Daly
                                            ------------------------------------
                                        Name: Joseph K. Daly
                                        Title: Partner

                                        6

<PAGE>

                                        NORD RESOURCES CORPORATION

Dated: November 11, 2004                By: /s/ Erland Anderson
                                            ------------------------------------
                                        Name: Erland Anderson
                                        Title: President

                                        7

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