Common use of Convertible Promissory Note Clause in Contracts

Convertible Promissory Note. EXECUTED BY: Canyon Copper Corp. (the "Borrower") IN FAVOUR OF: Asset Protection Fund Ltd. (the "Lender") PRINCIPAL AMOUNT: $250,000 (U.S.) DATE OF EXECUTION: September 11, 0000 XXXXX XX XXXXXXXXX: Xxxxxxxxx, XX, Xxxxxx FOR VALUE RECEIVED the Borrower hereby promises to pay to or to the order of the Lender on January 11, 2009, the principal sum of $250,000 (U.S.), together with interest thereon at the rate of 8% per annum, both before and after maturity from the date hereof. The Lender may at its option, at any time prior to January 11, 2009, convert all or any portion of the principal sum into that number of fully-paid and non-assessable shares of common stock of the Borrower (the “Conversion Shares”) as shall be equal to the principal sum at a conversion rate which shall be the lesser of $0.30 U.S. per share or the closing price of the Borrower’s shares for the business day preceding the date that the Borrower provides notice of conversion hereunder. Upon exercise of the Lender’s conversion rights hereunder, the Lender shall receive for no additional consideration one half of a share purchase warrant (each a “Warrant”) for each Conversion Share issued by the Borrower to the Lender. Each whole Warrant shall entitle the Lender to purchase one additional share of the Borrower’s common stock for a period of one year from the date of issuance, at a price of $0.40 per share. The Borrower waives presentment, demand, notice, protest and notice of dishonour and all other demands and notices in connection with the delivery, acceptance, performance, default or enforcement of this Promissory Note. The Borrower agrees this Promissory Note may be negotiated, assigned, discounted, or pledged by the Lender and in every case payment will be made to the holder of this Promissory Note instead of the Lender upon notice being given by the holder to the undersigned, and no holder of this Promissory Note will be affected by the state of accounts between the undersigned and the Lender or by any equities existing between the undersigned and the Lender and will be deemed to be a holder in due course and for the value of the Promissory Note held by him. DATED at Vancouver, BC this 30th day of November, 2007. CANYON COPPER CORP. by its authorized signatory:

Convertible Promissory Note. EXECUTED BY: Canyon Copper Corp. (the "Borrower") IN FAVOUR OF: Asset Protection Aton Ventures Fund Ltd. (the "Lender") PRINCIPAL AMOUNT: $250,000 (U.S.) DATE OF EXECUTION: September 11January 13, 0000 XXXXX XX XXXXXXXXX: Xxxxxxxxx, XX, Xxxxxx FOR VALUE RECEIVED the Borrower hereby promises to pay to or to the order of the Lender on January 11April 12, 20092010, the principal sum of $250,000 (U.S.), together with interest thereon at the rate of 815% per annum, both before and after maturity from the date hereof. The Lender may at its option, at any time prior to January 11April 12, 20092010, convert all or any portion of the principal sum into that number of fully-paid and non-assessable shares of common stock of the Borrower (the “Conversion Shares”) as shall be equal to the principal sum at a conversion rate which shall be the lesser of $0.30 U.S. per share or the closing price of the Borrower’s shares for on the Over-the-Counter Bulletin Board on the business day preceding the date that the Borrower provides notice of conversion hereunder. Upon exercise of the Lender’s conversion rights hereunder, the Lender shall receive for no additional consideration one half of a share purchase warrant (each a “Warrant”) for each Conversion Share issued by the Borrower to the Lender. Each whole Warrant shall entitle the Lender to purchase one additional share of the Borrower’s common stock for a period of one year from the date of issuance, at a price of $0.40 per share. The Borrower waives presentment, demand, notice, protest and notice of dishonour and all other demands and notices in connection with the delivery, acceptance, performance, default or enforcement of this Promissory Note. The Borrower agrees this Promissory Note may be negotiated, assigned, discounted, or pledged by the Lender and in every case payment will be made to the holder of this Promissory Note instead of the Lender upon notice being given by the holder to the undersigned, and no holder of this Promissory Note will be affected by the state of accounts between the undersigned and the Lender or by any equities existing between the undersigned and the Lender and will be deemed to be a holder in due course and for the value of the Promissory Note held by him. DATED at Vancouver, BC this 30th 13th day of NovemberJanuary, 2007. CANYON COPPER CORP. by its authorized signatory:2009.

Convertible Promissory Note. EXECUTED BY: Canyon Copper Corp. (the "Borrower") IN FAVOUR OF: Asset Protection Fund Ltd. Xxxxxxx Xxxxxx (the "Lender") PRINCIPAL AMOUNT: $250,000 50,000 (U.S.CDN) DATE OF EXECUTION: September 11May ____, 0000 XXXXX XX XXXXXXXXX: Xxxxxxxxx, XX, Xxxxxx FOR VALUE RECEIVED the Borrower hereby promises to pay to or to the order of the Lender on January 11July 25, 2009, the principal sum of $250,000 50,000 (U.S.CDN), together with interest thereon at the rate of 815% per annum, both before and after maturity from the date hereof. The Lender may at its his option, at any time prior to January 11July 25, 2009, convert all or any portion of the principal sum Principal Sum into that number of fully-paid and non-assessable shares of common stock units of the Borrower (the “Conversion Shares”) as shall be equal to the principal sum at a conversion rate which shall be the lesser of $0.30 U.S. (U.S.) per unit (the “Units”) with each unit consisting of one (1) common share or the closing price of the Borrower’s shares for the business day preceding the date that the Borrower provides notice of conversion hereunder. Upon exercise of the Lender’s conversion rights hereunder, the Lender shall receive for no additional consideration and one half of a (1) share purchase warrant (each a “Warrant”) for each Conversion Share issued by the Borrower to the Lenderwarrant. Each whole Warrant shall warrant will entitle the Lender to purchase one an additional common share of the Borrower’s common stock for a period of one year from the date of issuance, at a price of $0.40 0.35 (U.S.) per shareshare for a period of two (2) years from the date of issuance of the Units. The Borrower waives presentment, demand, notice, protest and notice of dishonour and all other demands and notices in connection with the delivery, acceptance, performance, default or enforcement of this Promissory Note. The Borrower agrees this Promissory Note may be negotiated, assigned, discounted, or pledged by the Lender and in every case payment will be made to the holder of this Promissory Note instead of the Lender upon notice being given by the holder to the undersigned, and no holder of this Promissory Note will be affected by the state of accounts between the undersigned and the Lender or by any equities existing between the undersigned and the Lender and will be deemed to be a holder in due course and for the value of the Promissory Note held by him. DATED at Vancouver, BC this 30th day of NovemberMay, 20072008. CANYON COPPER CORP. by its authorized signatory:

Convertible Promissory Note. EXECUTED BY: Canyon Copper Corp. (the "Borrower") IN FAVOUR OF: Asset Protection Fund Ltd. (the "Lender") PRINCIPAL AMOUNT: $250,000 (U.S.) DATE OF EXECUTION: September 11January 13, 0000 XXXXX XX XXXXXXXXX: Xxxxxxxxx, XX, Xxxxxx FOR VALUE RECEIVED the Borrower hereby promises to pay to or to the order of the Lender on January April 11, 20092010, the principal sum of $250,000 (U.S.), together with interest thereon at the rate of 815% per annum, both before and after maturity from the date hereof. The Lender may at its option, at any time prior to January April 11, 20092010, convert all or any portion of the principal sum into that number of fully-paid and non-assessable shares of common stock of the Borrower (the “Conversion Shares”) as shall be equal to the principal sum at a conversion rate which shall be the lesser of $0.30 U.S. per share or the closing price of the Borrower’s shares for the business day preceding the date that the Borrower provides notice of conversion hereunder. Upon exercise of the Lender’s conversion rights hereunder, the Lender shall receive for no additional consideration one half of a share purchase warrant (each a “Warrant”) for each Conversion Share issued by the Borrower to the Lender. Each whole Warrant shall entitle the Lender to purchase one additional share of the Borrower’s common stock for a period of one year from the date of issuance, at a price of $0.40 per share. The Borrower waives presentment, demand, notice, protest and notice of dishonour and all other demands and notices in connection with the delivery, acceptance, performance, default or enforcement of this Promissory Note. The Borrower agrees this Promissory Note may be negotiated, assigned, discounted, or pledged by the Lender and in every case payment will be made to the holder of this Promissory Note instead of the Lender upon notice being given by the holder to the undersigned, and no holder of this Promissory Note will be affected by the state of accounts between the undersigned and the Lender or by any equities existing between the undersigned and the Lender and will be deemed to be a holder in due course and for the value of the Promissory Note held by him. DATED at Vancouver, BC this 30th 13th day of NovemberJanuary, 2007. CANYON COPPER CORP. by its authorized signatory:2009.

Convertible Promissory Note. EXECUTED BY: Canyon Copper Corp. (the "Borrower") IN FAVOUR OF: Asset Protection Aton Ventures Fund Ltd. (the "Lender") PRINCIPAL AMOUNT: $250,000 (U.S.) DATE OF EXECUTION: September 1112, 0000 XXXXX XX XXXXXXXXX: Xxxxxxxxx, XX, Xxxxxx FOR VALUE RECEIVED the Borrower hereby promises to pay to or to the order of the Lender on January 1112, 2009, the principal sum of $250,000 (U.S.), together with interest thereon at the rate of 8% per annum, both before and after maturity from the date hereof. The Lender may at its option, at any time prior to January 1112, 2009, convert all or any portion of the principal sum into that number of fully-paid and non-assessable shares of common stock of the Borrower (the “Conversion Shares”) as shall be equal to the principal sum at a conversion rate which shall be the lesser of $0.30 U.S. per share or the closing price of the Borrower’s shares for on the Over-the-Counter Bulletin Board on the business day preceding the date that the Borrower provides notice of conversion hereunder. Upon exercise of the Lender’s conversion rights hereunder, the Lender shall receive for no additional consideration one half of a share purchase warrant (each a “Warrant”) for each Conversion Share issued by the Borrower to the Lender. Each whole Warrant shall entitle the Lender to purchase one additional share of the Borrower’s common stock for a period of one year from the date of issuance, at a price of $0.40 per share. The Borrower waives presentment, demand, notice, protest and notice of dishonour and all other demands and notices in connection with the delivery, acceptance, performance, default or enforcement of this Promissory Note. The Borrower agrees this Promissory Note may be negotiated, assigned, discounted, or pledged by the Lender and in every case payment will be made to the holder of this Promissory Note instead of the Lender upon notice being given by the holder to the undersigned, and no holder of this Promissory Note will be affected by the state of accounts between the undersigned and the Lender or by any equities existing between the undersigned and the Lender and will be deemed to be a holder in due course and for the value of the Promissory Note held by him. DATED at Vancouver, BC this 30th day of November, 2007. CANYON COPPER CORP. by its authorized signatory: