AMERICAN URANIUM CORP
FORM OF WARRANT US SUBSCRIBERS
<DOCUMENT>
<TYPE>EX-10.5
<SEQUENCE>6
<FILENAME>exhibit10-5.htm
<DESCRIPTION>FORM OF WARRANT US SUBSCRIBERS
<TEXT>
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      <P align=justify>THESE SECURITIES HAVE NOT BEEN REGISTERED WITH THE
      SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY
      STATE AND HAVE BEEN ISSUED IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION
      UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE &#147;SECURITIES ACT&#148;), AND,
      ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE
      REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN
      AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE
      REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH
      APPLICABLE STATE SECURITIES LAWS. </P></TD></TR></TABLE></DIV>
<P align=center><B>THESE WARRANTS WILL EXPIRE AND BECOME NULL AND VOID <BR>AT
5:00 P.M. (EASTERN TIME) ON AUGUST 23, 2009 </B></P>
<P align=center>SHARE PURCHASE WARRANTS TO <BR>PURCHASE COMMON SHARES OF
<BR><B>AMERICAN URANIUM CORPORATION <BR></B>Incorporated in the State of Nevada
</P>
<P align=center><B>US PURCHASERS </B></P>
<TABLE
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  <TR vAlign=top>
    <TD align=left>Warrant #<B>US/WT/08/07-</B>&lt;&gt; </TD>
    <TD align=right width="50%">No. of Warrants &lt;&gt; </TD></TR></TABLE>
<P align=center>THIS IS TO CERTIFY THAT:</P>
<P align=center>&lt;&gt; </P>
<P align=justify>(the &#147;Holder&#148;), has the right to purchase, upon and subject to
the terms and conditions hereinafter referred to, up to &lt;&gt; fully paid and
non-assessable common shares (the &#147;Shares&#148;) in the capital of American Uranium
Corporation (hereinafter called the &#147;Company&#148;) on or before 5:00 p.m. (Eastern
time) on August 23, 2009 (the &#147;Expiry Date&#148;) at a price per Share (the &#147;Exercise
Price&#148;) of US$1.25. </P>
<TABLE
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  <TR>
    <TD vAlign=top width="5%">1. </TD>
    <TD>
      <P align=justify>ONE WARRANT AND THE EXERCISE PRICE ARE REQUIRED TO
      PURCHASE ONE SHARE.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">2. </TD>
    <TD>
      <P align=justify>These Warrants are issued subject to the Terms and
      Conditions, and the Warrant Holder may exercise the right to purchase
      Shares only in accordance with those Terms and Conditions.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">3. </TD>
    <TD>
      <P align=justify>Nothing contained herein or in the Terms and Conditions
      will confer any right upon the Holder hereof or any other person to
      subscribe for or purchase any Shares at any time subsequent to the Expiry
      Date, and from and after such time, this Warrant and all rights hereunder
      will be void and of no value.</P></TD></TR></TABLE>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
IN WITNESS WHEREOF the Company has executed this Warrant Certificate this 23rd
day of August, 2007. </P>
<P style="MARGIN-LEFT: 50%" align=justify><B>AMERICAN URANIUM CORPORATION</B>
</P>
<P style="MARGIN-LEFT: 50%" align=justify>Per:&nbsp;&nbsp;
_______________________________________<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Authorized Signatory </P>
<P align=justify><B>PLEASE NOTE THAT ALL SHARE CERTIFICATES MUST BE LEGENDED
DURING THE APPLICABLE HOLD PERIODS. </B></P>
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<P align=center><B>APPENDIX &#147;A&#148; </B></P>
<P align=justify>TERMS AND CONDITIONS dated August 23, 2007 attached to the
Warrants issued by American Uranium Corporation </P>
<P
align=justify><STRONG>1.</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<STRONG>&nbsp;INTERPRETATION </STRONG></P>
<P
align=justify>1.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Definitions</U> </P>
<P align=justify>In these Terms and Conditions, unless there is something in the
subject matter or context inconsistent therewith: </P>
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  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>&#147;Company&#148; means American Uranium Corporation until a
      successor corporation will have become such as a result of consolidation,
      amalgamation or merger with or into any other corporation or corporations,
      or as a result of the conveyance or transfer of all or substantially all
      of the properties and estates of the Company as an entirety to any other
      corporation and thereafter &#147;Company&#148; will mean such successor
      corporation;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>&#147;Company&#146;s Auditors&#148; means an independent firm of
      accountants duly appointed as auditors of the Company;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>&#147;Director&#148; means a director of the Company for the time
      being, and reference, without more, to action by the directors means
      action by the directors of the Company as a Board, or whenever duly
      empowered, action by an executive committee of the Board;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>&#147;herein&#148;, &#147;hereby&#148; and similar expressions refer to these
      Terms and Conditions as the same may be amended or modified from time to
      time; and the expression &#147;Article&#148; and &#147;Section,&#148; followed by a number
      refer to the specified Article or Section of these Terms and
      Conditions;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(e) </TD>
    <TD>
      <P align=justify>&#147;person&#148; means an individual, corporation, partnership,
      trustee or any unincorporated organization and words importing persons
      have a similar meaning;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(f) </TD>
    <TD>
      <P align=justify>&#147;shares&#148; means the common shares in the capital of the
      Company as constituted at the date hereof and any shares resulting from
      any subdivision or consolidation of the shares;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(g) </TD>
    <TD>
      <P align=justify>&#147;Warrant Holders&#148; or &#147;Holders&#148; means the holders of the
      Warrants; and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(h) </TD>
    <TD>
      <P align=justify>&#147;Warrants&#148; means the warrants of the Company issued and
      presently authorized and for the time being
outstanding.</P></TD></TR></TABLE>
<P
align=justify>1.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Gender</U> </P>
<P align=justify>Words importing the singular number include the plural and vice
versa and words importing the masculine gender include the feminine and neuter
genders. </P>
<P
align=justify>1.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Interpretation not affected by Headings</U> </P>
<P align=justify>The division of these Terms and Conditions into Articles and
Sections, and the insertion of headings are for convenience of reference only
and will not affect the construction or interpretation thereof. </P>
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<P align=center>- 2 - </P>
<P
align=justify>1.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Applicable Law</U> </P>
<P align=justify>The Warrants will be construed in accordance with the laws of
the State of Nevada and the federal law of the United States applicable therein.
</P>
<P
align=justify><STRONG>2.&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<STRONG>ISSUE OF WARRANTS </STRONG></P>
<P
align=justify>2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Additional Warrants</U> </P>
<P align=justify>The Company may at any time and from time to time issue
additional warrants or grant options or similar rights to purchase shares of its
capital stock. </P>
<P
align=justify>2.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Warrants to Rank </U><I><U>Pari Passu</U></I> </P>
<P align=justify>All Warrants and additional warrants, options or similar rights
to purchase shares from time to time issued or granted by the Company, will rank
<I>pari passu</I> whatever may be the actual dates of issue or grant thereof, or
of the dates of the certificates by which they are evidenced. </P>
<P
align=justify>2.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Issue
in substitution for Lost Warrants</U> </P>
<TABLE
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  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>In case a Warrant becomes mutilated, lost, destroyed or
      stolen, the Company, at its discretion, may issue and deliver a new
      Warrant of like date and tenor as the one mutilated, lost, destroyed or
      stolen, in exchange for and in place of and upon cancellation of such
      mutilated Warrant, or in lieu of, and in substitution for such lost,
      destroyed or stolen Warrant and the substituted Warrant will be entitled
      to the benefit hereof and rank equally in accordance with its terms with
      all other Warrants issued or to be issued by the Company.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>The applicant for the issue of a new Warrant pursuant
      hereto will bear the cost of the issue thereof and in case of loss,
      destruction or theft furnish to the Company such evidence of ownership and
      of loss, destruction, or theft of the Warrant so lost, destroyed or stolen
      as will be satisfactory to the Company in its discretion and such
      applicant may also be required to furnish indemnity in amount and form
      satisfactory to the Company in its discretion, and will pay the reasonable
      charges of the Company in connection therewith.</P></TD></TR></TABLE>
<P
align=justify>2.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Warrant Holder Not a Shareholder</U> </P>
<P align=justify>The holding of a Warrant will not constitute the Holder thereof
a shareholder of the Company, nor entitle him to any right or interest in
respect thereof except as in the Warrant expressly provided. </P>
<P
align=justify><STRONG>3.&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<STRONG>NOTICE </STRONG></P>
<P
align=justify>3.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Notice to Warrant Holders</U> </P>
<P align=justify>Any notice required or permitted to be given to the Holders
will be in writing and may be given by prepaid registered post, electronic
facsimile transmission or other means of electronic communication capable of
producing a printed copy to the address of the Holder appearing on the Holder&#146;s
Warrant or to such other address as any Holder may specify by notice in writing
to the Company, and any such notice will be deemed to have been given and
received by the Holder to whom it was addressed if mailed, on the third day
following the mailing thereof, if by facsimile or other electronic
communication, on successful </P>
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<P align=center>- 3 - </P>
<P align=justify>transmission, or, if delivered, on delivery; but if at the time
or mailing or between the time of mailing and the third business day thereafter
there is a strike, lockout, or other labour disturbance affecting postal
service, then the notice will not be effectively given until actually delivered.
</P>
<P
align=justify>3.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Notice to the Company</U> </P>
<P align=justify>Any notice required or permitted to be given to the Company
will be in writing and may be given by prepaid registered post, electronic
facsimile transmission or other means of electronic communication capable of
producing a printed copy to the address of the Company set forth below or such
other address as the Company may specify by notice in writing to the Holder, and
any such notice will be deemed to have been given and received by the Company to
whom it was addressed if mailed, on the third day following the mailing thereof,
if by facsimile or other electronic communication, on successful transmission,
or, if delivered, on delivery; but if at the time or mailing or between the time
of mailing and the third business day thereafter there is a strike, lockout, or
other labour disturbance affecting postal service, then the notice will not be
effectively given until actually delivered: </P>
<P style="MARGIN-LEFT: 10%" align=justify>American Uranium Corporation<BR> 5
Locust Road <BR>Orleans, MA 02653 </P>
<P style="MARGIN-LEFT: 10%" align=justify>Attention: Robert Rich, President </P>
<P style="MARGIN-LEFT: 10%" align=justify>Fax No. (505) 240-1361 </P>
<P style="MARGIN-LEFT: 10%" align=justify>with a copy, which shall not
constitute notice, to: </P>
<P style="MARGIN-LEFT: 10%" align=justify>Clark Wilson LLP <BR>Barristers and
Solicitors <BR>800 &#150; 885 West Georgia Street <BR>Vancouver, British Columbia
<BR>Canada V6C 3H1 </P>
<P style="MARGIN-LEFT: 10%" align=justify>Attention: Bernard Pinsky </P>
<P style="MARGIN-LEFT: 10%" align=justify>Fax: (604) 687-6314 </P>
<P
align=justify><STRONG>4.&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>&nbsp;&nbsp;
EXERCISE OF WARRANTS </STRONG></P>
<P
align=justify>4.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Legends</U> </P>
<P align=justify>Please note that all share certificates issued upon exercise
hereof must be legended as follows during the currency of applicable hold
periods: </P>
<blockquote>
  <blockquote>
    <blockquote>
      <p align="justify">THESE SECURITIES HAVE NOT BEEN REGISTERED WITH THE SECURITIES
        AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE AND
        HAVE BEEN ISSUED IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER
        THE SECURITIES ACT OF 1933, AS AMENDED (THE &#147;SECURITIES ACT&#148;),
        AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE
        REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE
        EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION </p>
    </blockquote>
  </blockquote>
</blockquote>
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<P align=center>- 4 - </P>
<blockquote>
  <blockquote>
    <blockquote>
      <p align="justify">REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE
        WITH APPLICABLE STATE SECURITIES LAWS. </p>
    </blockquote>
  </blockquote>
</blockquote>
<P
align=justify>4.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Method of Exercise of Warrants</U> </P>
<P align=justify>The right to purchase shares conferred by the Warrants may be
exercised by the Holder surrendering the Warrant Certificate representing same,
with a duly completed and executed subscription in the form attached hereto and
a bank draft or certified cheque payable to the Company for the purchase price
applicable at the time of surrender in respect of the shares subscribed for in
lawful money of the United States of America to the Company at the address set
forth in Section 3.2, or from time to time specified by the Company.</P>
<P
align=justify>4.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Effect of Exercise of Warrants</U> </P>
<TABLE
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  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>Upon surrender and payment as aforesaid the shares so
      subscribed for will be deemed to have been issued and such person or
      persons will be deemed to have become the Holder or Holders of record of
      such shares on the date of such surrender and payment, and such shares
      will be issued at the subscription price in effect on the date of such
      surrender and payment.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>Within ten business days after surrender and payment as
      aforesaid, the Company will forthwith cause to be delivered to the person
      or persons in whose name or names the shares so subscribed for are to be
      issued as specified in such subscription or mailed to him or them at his
      or their respective addresses specified in such subscription, a
      certificate or certificates for the appropriate number of shares not
      exceeding those which the Warrant Holder is entitled to purchase pursuant
      to the Warrant surrendered.</P></TD></TR></TABLE>
<P
align=justify>4.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Subscription for Less Than Entitlement</U> </P>
<P align=justify>The Holder of any Warrant may subscribe for and purchase a
number of shares less than the number which he is entitled to purchase pursuant
to the surrendered Warrant. In the event of any purchase of a number of shares
less than the number which can be purchased pursuant to a Warrant, the Holder
thereof upon exercise thereof will in addition be entitled to receive a new
Warrant in respect of the balance of the shares which he was entitled to
purchase pursuant to the surrendered Warrant and which were not then purchased.
</P>
<P
align=justify>4.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Warrants for Fractions of Shares</U> </P>
<P align=justify>To the extent that the Holder of any Warrant is entitled to
receive on the exercise or partial exercise thereof a fraction of a share, such
right may be exercised in respect of such fraction only in combination with
another Warrant or other Warrants which in the aggregate entitle the Holder to
receive a whole number of such shares. </P>
<P
align=justify>4.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Expiration of Warrants</U> </P>
<P align=justify>After the expiration of the period within which a Warrant is
exercisable, all rights thereunder will wholly cease and terminate and such
Warrant will be void and of no effect. </P>
<P
align=justify>4.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Time of Essence</U> </P>
<P align=justify>Time will be of the essence hereof. </P>
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<P align=center>- 5 - </P>
<P
align=justify>4.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Subscription Price</U> </P>
<P align=justify>Each Warrant is exercisable at a price per share (the &#147;Exercise
Price&#148;) of US$1.25. One Warrant and the Exercise Price are required to subscribe
for each share during the term of the Warrants. </P>
<P
align=justify>4.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Adjustment of Exercise Price</U> </P>
<TABLE
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  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD colSpan=2>
      <P align=justify>The Exercise Price and the number of shares deliverable
      upon the exercise of the Warrants will be subject to adjustment in the
      event and in the manner following:</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>If and whenever the shares at any time outstanding are
      subdivided into a greater or consolidated into a lesser number of shares
      the Exercise Price will be decreased or increased proportionately as the
      case may be; upon any such subdivision or consolidation the number of
      shares deliverable upon the exercise of the Warrants will be increased or
      decreased proportionately as the case may be.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left width="5%"></TD>
    <TD vAlign=top align=left width="5%">
      <P align=justify>(ii) </P></TD>
    <TD align=left>
      <P align=justify>In case of any capital reorganization or of any
      reclassification of the capital of the Company or in the case of the
      consolidation, merger or amalgamation of the Company with or into any
      other Company (hereinafter collectively referred to as a
      &#147;Reorganization&#148;), each Warrant will after such Reorganization confer the
      right to purchase the number of shares or other securities of the Company
      (or of the Company&#146;s resulting from such Reorganization) which the Warrant
      Holder would have been entitled to upon Reorganization if the Warrant
      Holder had been a shareholder at the time of such
Reorganization.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left width="5%">&nbsp;</TD>
    <TD align=left width="5%">&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left width="5%"></TD>
    <TD align=left width="5%"></TD>
    <TD align=left>
      <P align=justify>In any such case, if necessary, appropriate adjustments
      will be made in the application of the provisions of this Article Four
      relating to the rights and interest thereafter of the Holders of the
      Warrants so that the provisions of this Article Four will be made
      applicable as nearly as reasonably possible to any shares or other
      securities deliverable after the Reorganization on the exercise of the
      Warrants.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>
      <P align=justify>&nbsp;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD width="5%"></TD>
    <TD>
      <P align=justify>The subdivision or consolidation of shares at any time
      outstanding into a greater or lesser number of shares (whether with or
      without par value) will not be deemed to be a Reorganization for the
      purposes of this clause 4.9(a)(ii).</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD colSpan=2>
      <P align=justify>The adjustments provided for in this Section 4.9 are
      cumulative and will become effective immediately after the record date or,
      if no record date is fixed, the effective date of the event which results
      in such adjustments.</P></TD></TR></TABLE>
<P
align=justify>4.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Determination
of Adjustments</U> </P>
<P align=justify>If any questions will at any time arise with respect to the
Exercise Price or any adjustment provided for in Section 4.8, such questions
will be conclusively determined by the Company&#146;s Auditors, or, if they decline
to so act, any other firm of certified public accountants in the United States
of America that the Company may designate and who will have access to all
appropriate records and such determination will be binding upon the Company and
the Holders of the Warrants. </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_7></A>
<P align=center>- 6 - </P>
<P
align=justify><STRONG>5.&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<STRONG>WAIVER OF CERTAIN RIGHTS </STRONG></P>
<P
align=justify>5.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Immunity of Shareholders, etc.</U> </P>
<P align=justify>The Warrant Holder, as part of the consideration for the issue
of the Warrants, waives and will not have any right, cause of action or remedy
now or hereafter existing in any jurisdiction against any past, present or
future incorporator, shareholder, Director or officer (as such) of the Company
for the issue of shares pursuant to any Warrant or on any covenant, agreement,
representation or warranty by the Company herein contained or in the Warrant.
</P>
<P
align=justify><STRONG>6.&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<STRONG>MODIFICATION OF TERMS, MERGER, SUCCESSORS </STRONG></P>
<P
align=justify>6.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Modification of Terms and Conditions for Certain Purposes</U> </P>
<P align=justify>From time to time the Company may, subject to the provisions of
these presents, modify the Terms and Conditions hereof, for the purpose of
correction or rectification of any ambiguities, defective provisions, errors or
omissions herein. </P>
<P
align=justify>6.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Warrants Not Transferable</U> </P>
<P align=justify>The Warrant and all rights attached to it are not transferable.
</P>
<P align=justify>DATED as of the date first above written in these Terms and
Conditions. </P>
<P style="MARGIN-LEFT: 50%" align=justify><B>AMERICAN URANIUM CORPORATION</B>
</P>
<P style="MARGIN-LEFT: 50%"
align=justify>By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;__________________________________________________<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Authorized Signatory </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_8></A>
<P align=center><B>FORM OF SUBSCRIPTION </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left>TO: </TD>
    <TD align=left width="95%">American Uranium Corporation </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="95%">5 Locust Road </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="95%">Orleans, MA 02653 </TD></TR></TABLE>
<P align=justify>The undersigned Holder of the within Warrants hereby subscribes
for ____________common shares (the &#147;Shares&#148;) of American Uranium Corporation
(the &#147;Company) pursuant to the within Warrants at US$1.25 per Share on the terms
specified in the said Warrants. This subscription is accompanied by a certified
cheque or bank draft payable to or to the order of the Company for the whole
amount of the purchase price of the Shares. </P>
<P align=justify>The undersigned hereby directs that the Shares be registered as
follows: </P>
<P align=justify>The undersigned hereby warrants that the undersigned is not a
  U.S. person and the Warrants are not being exercised on behalf of a U.S. person.
</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="3%"  >&nbsp;</TD>
    <TD align=left width="30%">&nbsp; </TD>
    <TD align=center width="3%"  >&nbsp;</TD>
    <TD align=center width="30%"><U>NUMBER OF</U> </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left><U>NAME(S) IN FULL</U> </TD>
    <TD align=left width="3%"  >&nbsp;</TD>
    <TD align=left width="30%"><U>ADDRESS(ES)</U> </TD>
    <TD align=center width="3%"  >&nbsp;</TD>
    <TD align=center width="30%"><U>SHARES</U> </TD>
  </TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="3%"  >&nbsp;</TD>
    <TD width="30%">&nbsp; </TD>
    <TD width="3%"  >&nbsp;</TD>
    <TD width="30%">&nbsp; </TD>
  </TR>
  <TR>
    <TD style="BORDER-BOTTOM: #000000 1px solid">&nbsp; </TD>
    <TD width="3%"  >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" width="30%">&nbsp; </TD>
    <TD width="3%"  >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" width="30%">&nbsp; </TD>
  </TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="3%"  >&nbsp;</TD>
    <TD width="30%" >&nbsp;</TD>
    <TD width="3%"  >&nbsp;</TD>
    <TD width="30%" >&nbsp;</TD>
  </TR>
  <TR>
    <TD style="BORDER-BOTTOM: #000000 1px solid">&nbsp; </TD>
    <TD width="3%"  >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" width="30%">&nbsp; </TD>
    <TD width="3%"  >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" width="30%">&nbsp; </TD>
  </TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="3%"  >&nbsp;</TD>
    <TD width="30%" >&nbsp;</TD>
    <TD width="3%"  >&nbsp;</TD>
    <TD width="30%" >&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="3%"  >&nbsp;</TD>
    <TD align=left width="30%">TOTAL: </TD>
    <TD align=left width="3%"  >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="30%">&nbsp; </TD>
  </TR>
</TABLE>
<P align=justify>(Please print full name in which share certificates are to be
issued, stating whether Mr., Mrs. or Miss is applicable). </P>
<P align=justify>DATED this ________day of __________________, ______. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>
  <TR vAlign=top>
    <TD align=left>WITNESSED BY: </TD>
    <TD align=center width="6%">)</TD>
    <TD align=left width="46%"></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=center width="6%">)</TD>
    <TD align=left width="46%"></TD>
  </TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp; </TD>
    <TD align=center width="6%">)</TD>
    <TD align=left width="46%"></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>Signature </TD>
    <TD align=center width="6%">)</TD>
    <TD align=left width="46%"></TD>
  </TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp; </TD>
    <TD align=center width="6%">)</TD>
    <TD align=left width="46%"></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>Name </TD>
    <TD align=center width="6%">)</TD>
    <TD align=left width="46%"></TD>
  </TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp; </TD>
    <TD align=center width="6%">)</TD>
    <TD align=left width="46%"><B>SIGNATURE OF WARRANT HOLDER</B> </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>Address </TD>
    <TD align=center width="6%">)</TD>
    <TD align=left width="46%"></TD>
  </TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp; </TD>
    <TD align=center width="6%">)</TD>
    <TD align=left width="46%"></TD>
  </TR>
</TABLE>
<P align=justify><B>INSTRUCTIONS FOR SUBSCRIPTION </B></P>
<P align=justify>The signature to the subscription must correspond in every
particular with the name written upon the face of the Warrant without alteration
or enlargement or any change whatever. If there is more than one subscriber, all
must sign. </P>
<P align=justify>In the case of persons signing by agent or attorney or by
personal representative(s), the authority of such agent, attorney or
representative(s) to sign must be proven to the satisfaction of the Company.
</P>
<P align=justify>If the Warrant certificate and the form of subscription are
being forwarded by mail, registered mail must be employed. </P>
<HR align=center width="100%" color=black noShade SIZE=5>

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