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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;line-height:85.83334%;'><b><font SIZE=2>UNITED STATES</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;line-height:85.83334%;'><b><font SIZE=2>SECURITIES AND EXCHANGE COMMISSION</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;line-height:85.83334%;'><b><font SIZE=2>WASHINGTON, D.C.  20549</font></b></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;line-height:85.83334%;'><b><font SIZE=2>FORM S-8</font></b></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;line-height:85.83334%;'><b><font SIZE=2>REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933</font></b></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;line-height:85.83334%;'><b><font size=2>ENTR&#201;E GOLD INC.</font></b></p>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:center;line-height:85.83334%;'><font size=2>(Exact name of registrant as specified in its charter)</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="86%" style='margin-left:0in;border-collapse:collapse'>
    <tr style='height:9.9pt'>
        <td width="366" valign=top style='padding:0in 1.45pt 0in 1.45pt; height:9.9pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:3.0pt;margin-bottom:3.0pt'><b><font size=2>British Columbia, Canada</font></b><br> <font size=2>(State or other jurisdiction of incorporation or organization)</font><b></b></p> </td>
        <td width="54" valign=top style='padding:0in 1.45pt 0in 1.45pt; height:9.9pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:3.0pt;margin-bottom:3.0pt'><b>&nbsp;</b></p> </td>
        <td width="204" valign=top style='padding:0in 1.45pt 0in 1.45pt; height:9.9pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:3.0pt;margin-bottom:3.0pt'><b><font size=2>Not Applicable</font></b><br> <font size=2>(I.R.S. Employer Identification No.)</font><b></b></p> </td> </tr>
    <tr style='height:9.9pt'>
        <td  colspan="3" valign=top style='padding:0in 1.45pt 0in 1.45pt; height:9.9pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:3.0pt;margin-bottom:3.0pt'><b><font size=2>1201 - 1166 Alberni Street, Vancouver, British Columbia, Canada  V6E 3Z3</font></b><br> <font size=2>(</font><font size=2>Address of Principal Executive Offices)</font><b><u></u></b></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="84%" style='margin-left:41.4pt;border-collapse:collapse'>
    <tr >
        <td width="624" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt;line-height:102.6%'><b><font size=2>Entr&#233;e Gold Inc. 2002 Stock Option Plan</font></b><b></b></p> </td> </tr>
    <tr >
        <td width="624" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:3.0pt;margin-bottom:3.0pt;line-height:86.4%'><font size=2>(Full title of the plan)</font></p> </td> </tr>
    <tr >
        <td width="624" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:3.0pt;margin-bottom:3.0pt'><b><font size=2>Gregory G. Crowe</font></b><br> <b><font size=2>1201 - 1166 Alberni Street, </font></b><br> <b><font size=2>Vancouver, British Columbia, Canada  V6E 3Z3</font></b><br> <font size=2>(Name and address of agent for service)</font></p>
<p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:12.0pt;margin-bottom:12.0pt'><b><font size=2>604.687.4777</font></b><br> <font size=2>(Telephone number, including area code, of agent for service)</font></p>
<p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:3.0pt;margin-bottom:3.0pt'><font size=2>With a copy to</font></p>
<p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:3.0pt;margin-bottom:3.0pt;line-height:86.4%'><b><font size=2>Susan E. McLeod, Esq.</font></b><br> <b><font size=2>MacNeill Law</font></b><br> <b><font
size=2>950 - 1055 West Georgia Street</font></b><br> <b><font size=2>Vancouver, British Columbia  V6E 3P3</font></b><br> <b><font size=2>604.639-1180</font></b><b></b></p> </td> </tr></table>

<p style=' margin-bottom:12pt; margin-top:24pt;text-align:center;line-height:80%;'><b><font SIZE=2>CALCULATION OF REGISTRATION FEE</font></b></p>


<table border="0" cellspacing=0 cellpadding=0 width="90%" style='border-collapse:collapse;  '>
    <tr style='page-break-inside:avoid'>
        <td width="156" valign=top style='border:solid black 1.0pt;  padding:0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:6.85pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:  .1in'><font size=2>Title of  securities</font><br>  <font size=2>to  be registered</font><sup><font  size=1>(1)</font></sup></p>  </td>
        <td width="114" valign=top style='border:solid black 1.0pt;  border-left:none;padding:0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font  size=2>Amount to</font><br>  <font size=2>be  registered</font><sup><font  size=1>(2)</font></sup></p>  </td>
        <td width="138" valign=top style='border:solid black 1.0pt;  border-left:none;padding:0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font  size=2>Proposed maximum offering price per share</font></p>  </td>
        <td width="144" valign=top style='border:solid black 1.0pt;  border-left:none;padding:0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font  size=2>Proposed maximum aggregate offering price</font></p>  </td>
        <td width="102" valign=top style='border:solid black 1.0pt;  border-left:none;padding:0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font  size=2>Amount of registration fee</font></p>  </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="156" valign=bottom style='border-top:none;border-left: solid black 1.0pt;border-bottom:none;border-right:solid black 1.0pt;   padding:0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:6.85pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom: .1in'><font size=2>Common Shares subject to outstanding options</font></p> </td>
        <td width="114" valign=bottom style='border-right: solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font size=2>2,545,000</font></p> </td>
        <td width="138" valign=bottom style='border-right: solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font SIZE=2>US$2.16</font><sup><font size=1>(3)</font></sup></p> </td>
        <td width="144" valign=bottom style='border-right:solid black 1.0pt;   padding:0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font SIZE=2>US$5,497,200</font></p> </td>
        <td width="102" valign=bottom style='border-right: solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font SIZE=2>US$647.02</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="156" valign=bottom style='border-top:none;border-left: solid black 1.0pt;border-bottom:none;border-right:solid black 1.0pt;  padding:0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:6.85pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom: .1in'><font size=2>Common Shares subject to outstanding options</font></p> </td>
        <td width="114" valign=bottom style='border-right: solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font size=2>75,000</font></p> </td>
        <td width="138" valign=bottom style='border-right: solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font SIZE=2>US$1.83</font><sup><font size=1>(3)</font></sup></p> </td>
        <td width="144" valign=bottom style='border-right:solid black 1.0pt;  padding:0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font SIZE=2>US$137,250</font></p> </td>
        <td width="102" valign=bottom style='border-right: solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font SIZE=2>US$16.15</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="156" valign=bottom style='border-top:none;border-left: solid black 1.0pt;border-bottom:none;border-right:solid black 1.0pt;  padding:0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:6.85pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom: .1in'><font size=2>Common Shares subject to outstanding options</font></p> </td>
        <td width="114" valign=bottom style='border-right: solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font size=2>175,000</font></p> </td>
        <td width="138" valign=bottom style='border-right: solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font SIZE=2>US$1.47</font><sup><font size=1>(3)</font></sup></p> </td>
        <td width="144" valign=bottom style='border-right:solid black 1.0pt;  padding:0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font SIZE=2>US$257,250</font></p> </td>
        <td width="102" valign=bottom style='border-right: solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font SIZE=2>US$30.28</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="156" valign=bottom style='border-top:none;border-left: solid black 1.0pt;border-bottom:none;border-right:solid black 1.0pt;  padding:0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:6.85pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom: .1in'><font size=2>Common Shares subject to outstanding options</font></p> </td>
        <td width="114" valign=bottom style='border-right: solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font size=2>400,000</font></p> </td>
        <td width="138" valign=bottom style='border-right: solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font SIZE=2>US$1.58</font><sup><font size=1>(3)</font></sup></p> </td>
        <td width="144" valign=bottom style='border-right:solid black 1.0pt;  padding:0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font SIZE=2>US$632,000</font></p> </td>
        <td width="102" valign=bottom style='border-right: solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font SIZE=2>US$74.39</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="156" valign=bottom style='border-top:none;border-left: solid black 1.0pt;border-bottom:none;border-right:solid black 1.0pt;  padding:0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:6.85pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom: .1in'><font size=2>Common Shares subject to outstanding options</font></p> </td>
        <td width="114" valign=bottom style='border-right: solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font size=2>600,000</font></p> </td>
        <td width="138" valign=bottom style='border-right: solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font SIZE=2>US$1.54</font><sup><font size=1>(3)</font></sup></p> </td>
        <td width="144" valign=bottom style='border-right:solid black 1.0pt;  padding:0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font SIZE=2>US$924,000</font></p> </td>
        <td width="102" valign=bottom style='border-right: solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font SIZE=2>US$108.75</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="156" valign=bottom style='border-top:none;border-left: solid black 1.0pt;border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;  padding:0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:6.85pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom: .1in'><font size=2>Common Shares subject to outstanding options</font></p> </td>
        <td width="114" valign=bottom style='border-right: solid black 1.0pt;border-bottom:solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font size=2>200,000</font></p> </td>
        <td width="138" valign=bottom style='border-right: solid black 1.0pt;border-bottom:solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font SIZE=2>US$1.48</font><sup><font size=1>(3)</font></sup></p> </td>
        <td width="144" valign=bottom style='border-right:solid black 1.0pt;border-bottom:solid black 1.0pt;  padding:0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font SIZE=2>US$296,000</font></p> </td>
        <td width="102" valign=bottom style='border-right: solid black 1.0pt;border-bottom:solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font SIZE=2>US$34.84</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<br>
<HR noshade align="center" width="100%" size="2">
<p style='page-break-before:always'></p>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse;  '>
    <tr style='page-break-inside:avoid'>
        <td width="138" valign=top style='border:solid black 1.0pt;  padding:0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:6.85pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:  .1in'><font size=2>Title of  securities</font><br>  <font size=2>to  be registered</font><sup><font  size=1>(1)</font></sup></p>  </td>
        <td width="101" valign=top style='border:solid black 1.0pt;  border-left:none;padding:0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font  size=2>Amount to</font><br>  <font size=2>be  registered</font><sup><font  size=1>(2)</font></sup></p>  </td>
        <td width="123" valign=top style='border:solid black 1.0pt; border-left:none;padding:0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font  size=2>Proposed maximum offering price per share</font></p>  </td>
        <td width="128" valign=top style='border:solid black 1.0pt;  border-left:none;padding:0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font  size=2>Proposed maximum aggregate offering price</font></p>  </td>
        <td width="91" valign=top style='border:solid black 1.0pt; border-left:none;padding:0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font  size=2>Amount of registration fee</font></p>  </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="138" valign=bottom style='border-top:none;border-left: solid black 1.0pt;border-bottom:none;border-right:solid black 1.0pt;  padding:0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:6.85pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom: .1in'><font size=2>Common Shares subject to outstanding options</font></p> </td>
        <td width="101" valign=bottom style='border-right: solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font size=2>1,805,000</font></p> </td>
        <td width="123" valign=bottom style='border-right: solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font SIZE=2>US$1.42</font><sup><font size=1>(3)</font></sup></p> </td>
        <td width="128" valign=bottom style='border-right: solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font SIZE=2>US$2,563,100</font></p> </td>
        <td width="91" valign=bottom style='border-right: solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font SIZE=2>US$301.68</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="138" valign=bottom style='border-top:none;border-left: solid black 1.0pt;border-bottom:none;border-right:solid black 1.0pt;  padding:0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:6.85pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom: .1in'><font size=2>Common Shares subject to outstanding options</font></p> </td>
        <td width="101" valign=bottom style='border-right: solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font size=2>715,000</font></p> </td>
        <td width="123" valign=bottom style='border-right: solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font SIZE=2>US$1.53</font><sup><font size=1>(3)</font></sup></p> </td>
        <td width="128" valign=bottom style='border-right: solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font SIZE=2>US$1,093,950</font></p> </td>
        <td width="91" valign=bottom style='border-right: solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font SIZE=2>US$128.76</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="138" valign=bottom style='border-top:none;border-left: solid black 1.0pt;border-bottom:none;border-right:solid black 1.0pt;  padding:0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:6.85pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom: .1in'><font size=2>Common Shares subject to outstanding options</font></p> </td>
        <td width="101" valign=bottom style='border-right: solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font size=2>175,000</font></p> </td>
        <td width="123" valign=bottom style='border-right: solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font SIZE=2>US$2.86</font><sup><font size=1>(3)</font></sup></p> </td>
        <td width="128" valign=bottom style='border-right: solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font SIZE=2>US$500,500</font></p> </td>
        <td width="91" valign=bottom style='border-right: solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font SIZE=2>US$58.91</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="138" valign=bottom style='border-top:none;border-left: solid black 1.0pt;border-bottom:none;border-right:solid black 1.0pt;  padding:0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:6.85pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom: .1in'><font size=2>Common Shares subject to outstanding options</font></p> </td>
        <td width="101" valign=bottom style='border-right: solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font size=2>900,000</font></p> </td>
        <td width="123" valign=bottom style='border-right: solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font SIZE=2>US$1.23</font><sup><font size=1>(3)</font></sup></p> </td>
        <td width="128" valign=bottom style='border-right: solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font SIZE=2>US$1,107,000</font></p> </td>
        <td width="91" valign=bottom style='border-right: solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font SIZE=2>US$130.29</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="138" valign=bottom style='border-top:none;border-left: solid black 1.0pt;border-bottom:none;border-right:solid black 1.0pt;  padding:0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:6.85pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom: .1in'><font size=2>Common Shares subject to outstanding options</font></p> </td>
        <td width="101" valign=bottom style='border-right: solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font size=2>510,000</font></p> </td>
        <td width="123" valign=bottom style='border-right: solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font SIZE=2>US$0.74</font><sup><font size=1>(3)</font></sup></p> </td>
        <td width="128" valign=bottom style='border-right: solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font SIZE=2>US$377,400</font></p> </td>
        <td width="91" valign=bottom style='border-right: solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font SIZE=2>US$44.42</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="138" valign=bottom style='border-top:none;border-left: solid black 1.0pt;border-bottom:none;border-right:solid black 1.0pt;  padding:0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:6.85pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom: .1in'><font size=2>Common Shares subject to outstanding options</font></p> </td>
        <td width="101" valign=bottom style='border-right: solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font size=2>50,000</font></p> </td>
        <td width="123" valign=bottom style='border-right: solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font SIZE=2>US$0.42</font><sup><font size=1>(3)</font></sup></p> </td>
        <td width="128" valign=bottom style='border-right: solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font SIZE=2>US$21,000</font></p> </td>
        <td width="91" valign=bottom style='border-right: solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font SIZE=2>US$2.47</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="138" valign=bottom style='border-top:none;border-left: solid black 1.0pt;border-bottom:none;border-right:solid black 1.0pt;  padding:0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:6.85pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom: .1in'><font size=2>Common Shares subject to outstanding options</font></p> </td>
        <td width="101" valign=bottom style='border-right: solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font size=2>715,000</font></p> </td>
        <td width="123" valign=bottom style='border-right: solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font SIZE=2>US$0.57</font><sup><font size=1>(3)</font></sup></p> </td>
        <td width="128" valign=bottom style='border-right: solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font SIZE=2>US$407,550</font></p> </td>
        <td width="91" valign=bottom style='border-right: solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font SIZE=2>US$47.97</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="138" valign=bottom style='border-top:none;border-left: solid black 1.0pt;border-bottom:none;border-right:solid black 1.0pt;  padding:0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:6.85pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom: .1in'><font size=2>Common Shares not subject to outstanding options</font></p> </td>
        <td width="101" valign=bottom style='border-right: solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font size=2>981,613</font></p> </td>
        <td width="123" valign=bottom style='border-right: solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font SIZE=2>US$1.58</font><sup><font size=1>(3) (4)</font></sup></p> </td>
        <td width="128" valign=bottom style='border-right: solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font SIZE=2>US$1,550,948.54</font></p> </td>
        <td width="91" valign=bottom style='border-right: solid black 1.0pt;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:.1in'><font SIZE=2>US$182.55</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="138" valign=bottom style='border:solid black 1.0pt; border-top:none;padding: 0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:.1in;text-indent:0pt;text-align:left;margin-top:.2in;margin-bottom: .1in'><b><font size=2>Total</font></b></p> </td>
        <td width="101" valign=bottom style='border-top:none;border-left: none;border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;   padding:0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:.2in;margin-bottom:.1in'><b><font size=2>9,846,613</font></b></p> </td>
        <td width="123" valign=bottom style='border-top:none;border-left: none;border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;   padding:0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:.2in;margin-bottom:.1in'><font size=1>&nbsp;</font></p> </td>
        <td width="128" valign=bottom style='border-top:none;border-left: none;border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;   padding:0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:.2in;margin-bottom:.1in'><font size=1>&nbsp;</font></p> </td>
        <td width="91" valign=bottom style='border-top:none;border-left: none;border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;   padding:0in 1.8pt 0in 1.8pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:.2in;margin-bottom:.1in'><b><font SIZE=2>US$1,808.48</font></b><b></b></p> </td> </tr></table>

<table  border="0" cellspacing=0 cellpadding=0 style='margin-left:22.5pt;border-collapse:collapse'>
    <tr >
        <td width="24" valign=top style='padding:6.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>(1)</font></p> </td>
        <td  valign=top style='padding:6.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>This Registration Statement covers the common shares, without par value, issuable upon the exercise of options offered by the registrant pursuant to the plan described herein.</font></p> </td> </tr>
    <tr >
        <td width="24" valign=top style='padding:6.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>(2)</font></p> </td>
        <td  valign=top style='padding:6.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>This Registration Statement also covers an indeterminate number of additional shares of common shares which may become issuable under the plan by reason of dividend, stock-split, re-capitalization or any other similar transaction effected without the receipt of consideration which results in an increase in the number of the registrant&#146;s outstanding shares of common shares.</font></p> </td> </tr>
    <tr >
        <td width="24" valign=top style='padding:6.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>(3)</font></p> </td>
        <td  valign=top style='padding:6.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>U.S. dollar amounts are calculated based on the noon buying rate in New York City for cable transfers payable in Canadian dollars as certified for customs purposes by the Federal Reserve Bank of New York on July 27, 2005.  On such date the noon buying rate was CDN$1.00=US$1.2341.</font></p> </td> </tr>
    <tr >
        <td width="24" valign=top style='padding:6.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>(4)</font></p> </td>
        <td  valign=top style='padding:6.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>The proposed maximum offering price per share and the registration fee were calculated in accordance with rule 457(c) and (h) based on the average high and low prices for the Registrant&#146;s common shares on July 27, 2005, as quoted on the American Stock Exchange, which was US$1.58 per share.</font></p> </td> </tr></table>



<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.01in;text-align:left;'><b><font size=2>&nbsp;</font></b></p>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<br>
<HR noshade align="center" width="100%" size="2">
<p style='page-break-before:always'></p>
<pAGE>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:12pt; margin-top:6pt;text-align:center;'><b><font SIZE=2>EXPLANATORY NOTE</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>We have prepared this registration statement in accordance with the requirements of Form S-8 under the </font><i><font size=2>Securities Act of 1933</font></i><font size=2>, as amended (the &#147;Act&#148;), to register options and common shares to be issued pursuant to the exercise of options or rights granted under the Entr&#233;e Gold Inc. 2002 Stock Option Plan, as amended (the &#147;2002 Plan&#148;).  On October 9, 2002, the 2002 Plan took into account a two (old) for one (new) share consolidation.  On February 26, 2003 and February 11, 2004, the Registrant&#146;s shareholders approved amendments to the 2002 Plan.  On May 20, 2005, the Registrant&#146;s shareholders approved amendments to the 2002 Plan, including an increase in the number of common shares issuable under such plan.  Pursuant to Rule 429 of the Act, this Registration Statement also serves as a post-effective amendment to the prior
registration statement.</font></p>

<p style=' margin-bottom:12pt; margin-top:12pt;text-align:center;'><b><font size=2>Part I</font></b></p>

<p STYLE=' MARGIN-BOTTOM:12PT; MARGIN-TOP:12PT;TEXT-ALIGN:CENTER;'><B><FONT SIZE=2>INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</FONT></B></P>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><b><font size=2>Item 1.  Plan Information.</font></b></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>Information required by Part I to be contained in the Section 10(a) prospectus is omitted from the Registration Statement in accordance with Rule 428 under the Act and Note 1 to Part I of Form S-8.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><b><font size=2>Item 2.  Registrant Information and Employee Plan Annual Information.</font></b></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>Information required by Part I to be contained in the Section 10(a) prospectus is omitted from the Registration Statement in accordance with Rule 428 under the Act and Note 1 to Part I of Form S-8.</font></p>

<p style=' margin-bottom:12pt; margin-top:12pt;text-align:center;'><b><font size=2>Part II</font></b></p>

<p STYLE=' MARGIN-BOTTOM:12PT; MARGIN-TOP:12PT;TEXT-ALIGN:CENTER;'><B><FONT SIZE=2>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</FONT></B></P>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><b><font size=2>Item 3.  Incorporation of Documents by Reference.</font></b></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>The documents listed in (a) through (d) below are incorporated by reference in this Registration Statement.</font></p>


<table  border="0" cellspacing=0 cellpadding=0 style='border-collapse:collapse'>
    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(a)</font></p> </td>
        <td  valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>The Registrant&#146;s Annual Report on Form 10-KSB for the fiscal year ended December 31, 2004, filed with the Securities and Exchange Commission on April 6, 2005;</font></p> </td> </tr>
    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(b)</font></p> </td>
        <td  valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>The Registrant&#146;s Quarterly Report on Form 10-QSB for the three month period ended March 31, 2005, filed with the Securities and Exchange Commission on May 16, 2005;</font></p> </td> </tr>
    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(c)</font></p> </td>
        <td  valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>All other reports filed by the Registrant pursuant to Section 13(a) or 15(d) of the </font><i><font size=2>Securities and Exchange Act of 1934</font></i><font size=2>, as amended (the &#147;Exchange Act&#148;), subsequent to the end of the fiscal year covered by the Annual Report incorporated by reference herein pursuant to (a) above.</font></p> </td> </tr>
    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(d)</font></p> </td>
        <td  valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>The description of the Registrant&#146;s securities contained in the Registrant&#146;s Registration Statement on Form 10-SB filed with the Securities and Exchange Commission on October 12, 2004, including any amendment or report filed for the purpose of updating such description.</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>All documents filed by the Registrant pursuant to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act, after the date hereof and prior to the filing of a post-effective amendment which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold shall be deemed to be incorporated by reference herein and to be a part hereof from the date of filing of such documents.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><b><font size=2>Item 4.  Description of Securities.</font></b></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>The securities to be offered are registered under Section 12(g) of the Exchange Act.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>- 2 -</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<br>
<HR noshade align="center" width="100%" size="2">
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<pAGE>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><b><font size=2>Item 5.  Interests of Named Experts and Counsel.</font></b></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>No expert or counsel name in this prospectus as having prepared or certified any part of it or as having given an opinion upon the validity of the securities being registered or upon other legal matters in connection with the registration or offering of the common shares was employed on a contingency basis, or had, or is to receive, in connection with the offering, a substantial interest, direct or indirect, in the Company or any of its parents or subsidiaries.  Nor was any such person connected with the Company or any of its parents or subsidiaries as a promoter, managing or principal underwriter, voting trustee, director, officer or employee.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><b><font size=2>Item 6.  Indemnification of Directors and Officers.</font></b></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>The Company is continued into British Columbia under the laws of the Province of British Columbia, Canada, and is subject to the British Columbia </font><i><font size=2>Business Corporations Act</font></i><font size=2> (the &#147;BCBCA&#148;).</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>The BCBCA and the Company&#146;s Articles permit indemnification of its directors and officer against certain liabilities, which would include liabilities arising under the Act and the Exchange Act.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>Under the BCBCA, a company has broad latitude to indemnify its directors, both past and present, except where:</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="595" style='border-collapse:collapse'>
    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(a)</font></p> </td>
        <td width="393" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>the memorandum or articles of the company prohibit indemnification;</font></p> </td>
        <td  width="153">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(b)</font></p> </td>
        <td  colspan="2" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>the director did not act honestly and in good faith with a view to the best interests of the company;</font></p> </td> </tr></table>

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    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(c)</font></p> </td>
        <td width="576" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>the proceeding was not a civil proceeding and the director did not have reasonable grounds for believing that his conduct was lawful; or</font></p> </td> </tr></table>

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    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(d)</font></p> </td>
        <td width="537" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>the proceeding is brought against the director by the company itself or an associated corporation.</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>At the end of a proceeding where a director has been wholly successful, whether on the merits or not, or substantially successful on the merits, the company must reimburse the director for all expenses reasonably and actually incurred by the director in respect of that proceeding.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>Despite any other provisions in the BCBCA dealing with indemnification, on application of either the company or a director, the court has a broad discretion to order full or partial indemnification, or make any other order that it considers appropriate.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>The BCBCA allows a company to purchase and maintain directors&#146; liability insurance</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>&#147;Insurance</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>165&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A company may purchase and maintain insurance for the benefit of an eligible party or the heirs and personal or other legal representatives of the eligible party against any liability that may be incurred by reason of the eligible party being or having been a director or officer of, or holding or having held a position equivalent to that of a director or officer of, the company or an associated corporation.&#148;.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>Part 21 of the Company&#146;s Articles also contain provisions providing for the indemnification of directors and officers of the Company as follows:</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>&#147;Part 21 - Indemnity and Protection of Directors, Officers and Employees</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>21.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject to the provisions of the Business Corporations Act, the Directors shall cause the Company to indemnify a Director, officer or alternate Director or a former Director, officer or alternate Director of the Company or a person who, at the request of the Company, is or was a director, alternate director or officer of another </font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=1>- </font><font size=2>3 -</font></b></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>&nbsp;</font></p>
<br>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>corporation, at a time when the corporation is or was an affiliate of the Company or a person who, at the request of the Company, is or was, or holds or held a position equivalent to that of, a director, alternate director or officer of a partnership, trust, joint venture or other unincorporated entity (in each case, an &#147;eligible party&#148;), and the heirs and personal representatives of any such eligible party, against all judgments, penalties or fines awarded or imposed in, or an amount paid in settlement of, a legal proceeding or investigative action (whether current, threatened, pending or completed) in which such eligible party or any of the heirs and personal representatives of such eligible party, by reason of such eligible party being or having been a Director, alternate Director or officer or holding or having held a position equivalent to that of a Director, alternate Director or officer,
is or may be joined as a party or is or may be liable for or in respect of a judgment, penalty or fine in, or expenses related to the proceeding.  Provided the Company first receives a written undertaking from the eligible party to repay amounts advanced if so required under the Business Corporations Act, the Directors shall cause the Company to pay, as they are incurred in advance of the final disposition of the proceeding, the costs, charges and expenses, including legal and other fees actually and reasonably incurred by the eligible party in respect of the proceeding.  After the final disposition of the proceeding, the Directors shall cause the Company to pay the expenses actually and reasonably incurred by the eligible party in respect of the proceeding, to the extent the eligible party has not already been reimbursed for such expenses, subject to the provisions of the Business Corporations Act.  Each Director, alternate Director and officer of the Company on being elected or
appointed shall be deemed to have contracted with the Company on the terms of the foregoing indemnity.</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="609" style='border-collapse:collapse'>
    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>21.2</font></p> </td>
        <td width="561" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Subject to the provisions of the Business Corporations Act, the Company may indemnify any person.</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>21.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The failure of a Director, alternate Director or officer of the Company to comply with the provisions of the Business Corporations Act or these Articles shall not invalidate any indemnity to which he is entitled under this Part.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>21.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Directors may cause the Company to purchase and maintain insurance for the benefit of any person (or his heirs or legal personal representatives) who is or was a Director, officer, alternate Director, employee or agent of the Company or a person who, at the request of the Company, is or was a director, alternate director, officer, employee or agent of another corporation, at a time when the corporation is or was an affiliate of the Company or a person who, at the request of the Company, is or was or holds or held a position equivalent to that of a director, alternate director, officer, employee or agent of a partnership, trust, joint venture or other unincorporated entity and the person&#146;s heirs or personal representatives against any liability incurred by the person as such Director, alternate Director, director, alternate director,
officer, employee, agent or person who holds or held such equivalent position.&#148;.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>The Registrant does not maintain directors&#146; and officers&#146; Liability Insurance for its directors and officers.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><b><font size=2>Item 7.  Exemption from Registration Claimed.</font></b></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>Not Applicable.</font></p>

<p style=' margin-bottom:12pt; margin-top:12pt;text-align:left;'><b><font size=2>Item 8.  Exhibits.</font></b></p>


<table border="0" cellspacing=0 cellpadding=0 width="98%" style='border-collapse:collapse'>
    <tr style='page-break-inside:avoid'>
        <td width="109" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:3.0pt;margin-bottom:3.0pt'><u><b><font size=2>Exhibit Number</font></b></u><b></b></p> </td>
        <td width="522" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:3.0pt;margin-bottom:3.0pt'><u><b><font size=2>Exhibit</font></b></u><b></b></p> </td> </tr>
    <tr style='page-break-inside:avoid;height:14.85pt'>
        <td width="109" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:14.85pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:3.0pt;margin-bottom:3.0pt'><font size=2>4.1</font></p> </td>
        <td width="522" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:14.85pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom:3.0pt'><font size=2>Entr&#233;e Gold Inc. 2002 Stock Option Plan, as amended</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="109" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:3.0pt;margin-bottom:3.0pt'><font size=2>5.1</font></p> </td>
        <td width="522" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom:3.0pt'><font size=2>Opinion and Consent of MacNeill Law</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="109" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:3.0pt;margin-bottom:3.0pt'><font size=2>23.1</font></p> </td>
        <td width="522" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom:3.0pt'><font size=2>Consent of MacNeill Law (included in Exhibit 5.1)</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="109" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:3.0pt;margin-bottom:3.0pt'><font size=2>23.2</font></p> </td>
        <td width="522" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom:3.0pt'><font size=2>Consent of Davidson &amp; Company LLP</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="109" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:3.0pt;margin-bottom:3.0pt'><font size=2>24.1</font></p> </td>
        <td width="522" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom:3.0pt'><font size=2>Power of Attorney (included in signature page)</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=1>- </font><font size=2>4 -</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><b><font size=2>Item 9.  Undertakings.</font></b></p>


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    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>A.</font></p> </td>
        <td width="272" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>The undersigned Registrant hereby undertakes:</font></p> </td> </tr></table>

<table width="100%" border="0" cellspacing=0 cellpadding=0 style='margin-left:.25in;border-collapse:collapse'>
    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(1)</font></p> </td>
        <td width="552" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>to file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:</font></p> </td> </tr></table>

<table border="0" cellspacing=0 cellpadding=0 width="517" style='margin-left:.5in;border-collapse:collapse'>
    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(i)</font></p> </td>
        <td width="469" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>to include any prospectus required by section 10(a)(3) of the Securities Act of 1933;</font></p> </td> </tr></table>

<table width="100%" border="0" cellspacing=0 cellpadding=0 style='border-collapse:collapse'>
    <tr >
        <td   colspan="2">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td>
        <td  colspan="2" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(ii)</font></p> </td>
        <td width="528" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>to reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement.  Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Securities and Exchange Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum aggregate offering price set forth in the
&#147;Calculation of Registration Fee&#148; table in the effective registration statement.</font></p> </td> </tr>
    <tr >
        <td   colspan="2">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td>
        <td  colspan="2" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(iii)</font></p> </td>
        <td width="528" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>to include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement.</font></p> </td> </tr>
    <tr >
        <td  width="24">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td>
        <td  colspan="2" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(2)</font></p> </td>
        <td  colspan="2" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>that, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new Registration Statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof; and </font></p> </td> </tr>
    <tr >
        <td  width="24">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td>
        <td  colspan="2" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(3)</font></p> </td>
        <td  colspan="2" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>to remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.</font></p> </td> </tr>
    <tr >
        <td  colspan="2" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>B.</font></p> </td>
        <td  colspan="3" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the Company&#146;s annual report pursuant to Section&nbsp;13(a) or Section&nbsp;15(d) of the Securities Exchange Act of 1934, as amended, (and, where applicable, each filing of an employee benefit plan&#146;s annual report pursuant to section 15(d) of the Securities Exchange Act of 1934, as amended) that is incorporated by reference in the Registration Statement shall be deemed to be a new Registration Statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</font></p> </td> </tr>
    <tr >
        <td  colspan="2" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>C.</font></p> </td>
        <td  colspan="3" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the Company pursuant to the foregoing provisions, or otherwise, the Company has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable.  In the event that a claim for indemnification against such liabilities (other than the payment by the Company of expenses incurred or paid by a director, officer or controlling person of the Company in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Company will, unless in the opinion of its
counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.</font></p> </td> </tr>
    <tr>
        <td width="24" ></td>

        <td width="24" ></td>

        <td width="24" ></td>

        <td width="24" ></td>

        <td width="528" ></td> </tr> </table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=1>- </font><font size=2>5 -</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p STYLE=' MARGIN-BOTTOM:12PT; MARGIN-TOP:0PT;TEXT-ALIGN:CENTER;'><B><FONT SIZE=2>SIGNATURES</FONT></B></P>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><b><font size=2>The Registrant</font></b><font size=2>.  Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Vancouver, Province of British Columbia, Canada, on this 29th day of July, 2005.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><b><font size=2>ENTR&#201;E GOLD INC.</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>By:  </font></p> </td>
        <td  colspan="3" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font size=2>/s/ Gregory G. Crowe</font></u></p> </td>
        <td  width="39">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr >
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Name:</font></p> </td>
        <td width="119" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Gregory G. Crowe</font></p> </td>
        <td   colspan="3">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr >
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Title:</font></p> </td>
        <td  colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>President and CEO</font></p> </td>
        <td   colspan="2">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr >
        <td  width="48">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td>
        <td  colspan="4" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(Principal Executive Officer)</font></p> </td> </tr>
    <tr>
        <td width="48" ></td>

        <td width="119" ></td>

        <td width="3" ></td>

        <td width="15" ></td>

        <td width="39" ></td> </tr> </table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="219" style='border-collapse:collapse'>
    <tr >
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>By:  </font></p> </td>
        <td  colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font size=2>/s/ Hamish Malkin</font></u></p> </td>
        <td   colspan="2">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr >
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Name:</font></p> </td>
        <td width="103" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Hamish Malkin</font></p> </td>
        <td   colspan="3">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr >
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Title:</font></p> </td>
        <td  colspan="3" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Chief Financial Officer</font></p> </td>
        <td  width="27">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr >
        <td  width="48">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td>
        <td  colspan="4" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(Principal Financial Officer)</font></p> </td> </tr>
    <tr>
        <td width="48" ></td>

        <td width="103" ></td>

        <td width="16" ></td>

        <td width="25" ></td>

        <td width="27" ></td> </tr> </table>

<p style=' margin-bottom:10pt; margin-top:10pt;text-align:justify;'><font size=2>Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the date indicated.</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="302" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:10.0pt;margin-bottom:0pt'><font size=2>Signature</font></p> </td>
        <td width="168" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:10.0pt;margin-bottom:0pt'><font size=2>Title</font></p> </td>
        <td width="168" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:10.0pt;margin-bottom:0pt'><font size=2>Date</font></p> </td> </tr>
    <tr >
        <td width="302" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:10.0pt;margin-bottom:0pt'><br> <u><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Gregory G. Crowe&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;</font></u><br> <font size=2>Gregory G. Crowe</font></p> </td>
        <td width="168" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:10.0pt;margin-bottom:0pt'><br> <br> <font size=2>President, CEO and Director</font></p> </td>
        <td width="168" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:10.0pt;margin-bottom:0pt'><br> <br> <font size=2>July 29th, 2005</font></p> </td> </tr>
    <tr >
        <td width="302" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:10.0pt;margin-bottom:0pt'><br> <u><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Mark H. Bailey&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;&nbsp;&nbsp;&nbsp;&nbsp;</font></u><br> <font size=2>Mark H. Bailey</font></p> </td>
        <td width="168" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:10.0pt;margin-bottom:0pt'><br> <br> <font size=2>Director</font></p> </td>
        <td width="168" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:10.0pt;margin-bottom:0pt'><br> <br> <font size=2>July 29th, 2005</font></p> </td> </tr>
    <tr >
        <td width="302" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:10.0pt;margin-bottom:0pt'><br> <u><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Lindsay R. Bottomer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></u><br> <font size=2>Lindsay R. Bottomer</font></p> </td>
        <td width="168" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:10.0pt;margin-bottom:0pt'><br> <br> <font size=2>Director</font></p> </td>
        <td width="168" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:10.0pt;margin-bottom:0pt'><br> <br> <font size=2>July 29th, 2005</font></p> </td> </tr>
    <tr >
        <td width="302" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:10.0pt;margin-bottom:0pt'><br> <u><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ James L. Harris&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;&nbsp;&nbsp;&nbsp;&nbsp;</font></u><br> <font size=2>James L. Harris</font></p> </td>
        <td width="168" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:10.0pt;margin-bottom:0pt'><br> <br> <font size=2>Director</font></p> </td>
        <td width="168" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:10.0pt;margin-bottom:0pt'><br> <br> <font size=2>July 29th, 2005</font></p> </td> </tr>
    <tr >
        <td width="302" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:10.0pt;margin-bottom:0pt'><br> <u><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Peter Meredith&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></u><br> <font size=2>Peter Meredith</font></p> </td>
        <td width="168" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:10.0pt;margin-bottom:0pt'><br> <br> <font size=2>Director</font></p> </td>
        <td width="168" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:10.0pt;margin-bottom:0pt'><br> <br> <font size=2>July 29th, 2005</font></p> </td> </tr>
    <tr >
        <td width="302" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:10.0pt;margin-bottom:0pt'><br> <u><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Hamish Malkin&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;&nbsp;&nbsp;&nbsp;&nbsp;</font></u><br> <font size=2>Hamish Malkin</font></p> </td>
        <td width="168" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:10.0pt;margin-bottom:0pt'><br> <br> <font size=2>CFO and Secretary</font></p> </td>
        <td width="168" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:10.0pt;margin-bottom:0pt'><br> <br> <font size=2>July 29th, 2005</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:10pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=1>- </font><font size=2>6 -</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<br>
<HR noshade align="center" width="100%" size="2">
<p style='page-break-before:always'></p>
<pAGE>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:10pt;text-align:justify;'><b><font size=2>The Plan</font></b></p>

<p style=' margin-bottom:0pt; margin-top:10pt;text-align:justify;'><font size=2>Pursuant to the requirements of the Securities Act of 1933, the trustees (or other persons who administer the employee benefit plan) have duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Vancouver, Province of British Columbia, Canada on July 29, 2005.</font></p>

<p style=' margin-bottom:0pt; margin-top:10pt;text-align:left;'><u><font size=2>Entr&#233;e Gold Inc. 2002 Stock Option Plan</font></u></p>

<p style=' margin-bottom:0pt; margin-top:10pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="184" style='border-collapse:collapse'>
    <tr >
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>By:  </font></p> </td>
        <td width="136" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font size=2>/s/ Gregory G. Crowe</font></u></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.25in;text-align:justify;'><font size=2>Gregory G. Crowe</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.25in;text-align:justify;'><font size=2>President, CEO and Director</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="167" style='border-collapse:collapse'>
    <tr >
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>By:  </font></p> </td>
        <td width="119" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font size=2>/s/ Hamish Malkin</font></u></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.25in;text-align:justify;'><font size=2>Hamish Malkin</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.25in;text-align:justify;'><font size=2>CFO and Secretary</font></p>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=1>- </font><font size=2>7 -</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<br>
<HR noshade align="center" width="100%" size="2">
<p style='page-break-before:always'></p>
<pAGE>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p STYLE=' MARGIN-BOTTOM:12PT; MARGIN-TOP:0PT;TEXT-ALIGN:CENTER;'><B><FONT SIZE=2>POWER OF ATTORNEY</FONT></B></P>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>Each person whose signature appears below constitutes and appoints Gregory G. Crowe and James L. Harris, his attorney-in-fact, with the power of substitution, for them in any and all capacities, to sign any amendments to this registration statement, and to file the same, with exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, hereby ratifying and confirming all that said attorneys-in-fact, or their substitute or substitutes, may do or cause to be done by virtue hereof.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed by the following persons in the capacities and on the date indicated.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="101%" style='border-collapse:collapse'>
    <tr style='page-break-inside:avoid'>
        <td width="235" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:6.0pt;line-height:101.52%'><u><b><font size=2>Signature</font></b></u><b></b></p> </td>
        <td width="276" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:6.0pt;line-height:101.52%'><u><b><font size=2>Title</font></b></u><b><u></u></b></p> </td>
        <td width="137" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:6.0pt;line-height:101.52%'><u><b><font size=2>Date</font></b></u><b></b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="235" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12.0pt;line-height:101.52%'><br> <br> <font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size=2>/s/ Gregory G. Crowe&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></u><br> <font size=2>Gregory G. Crowe</font></p> </td>
        <td width="276" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12.0pt;line-height:101.52%'><br> <br> <br> <font size=2>President, Chief Executive Officer and Director (Principal Executive Officer)</font></p> </td>
        <td width="137" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:10.0pt;margin-bottom:0pt'><br> <br> <font size=2>July 29th, 2005</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="235" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12.0pt;line-height:101.52%'><br> <br> <font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size=2>/s/ Mark H. Bailey&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></u><br> <font size=2>Mark H. Bailey</font></p> </td>
        <td width="276" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12.0pt;line-height:101.52%'><br> <br> <font size=2>Director</font></p> </td>
        <td width="137" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:10.0pt;margin-bottom:0pt'><br> <font size=2>July 29th, 2005</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="235" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12.0pt;line-height:101.52%'><br> <br> <font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size=2>/s/ Lindsay R. Bottomer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></u><br> <font size=2>Lindsay R. Bottomer</font></p> </td>
        <td width="276" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12.0pt;line-height:101.52%'><br> <br> <font size=2>Director</font></p> </td>
        <td width="137" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:10.0pt;margin-bottom:0pt'><br> <font size=2>July 29th, 2005</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="235" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12.0pt;line-height:101.52%'><br> <br> <font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size=2>/s/ James L. Harris&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></u><br> <font size=2>James L. Harris</font></p> </td>
        <td width="276" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12.0pt;line-height:101.52%'><br> <br> <font size=2>Director</font></p> </td>
        <td width="137" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:10.0pt;margin-bottom:0pt'><br> <font size=2>July 29th, 2005</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="235" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12.0pt;line-height:101.52%'><br> <br> <font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size=2>/s/ Peter Meredith&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></u><br> <font size=2>Peter Meredith</font></p> </td>
        <td width="276" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12.0pt;line-height:101.52%'><br> <br> <font size=2>Director</font></p> </td>
        <td width="137" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:10.0pt;margin-bottom:0pt'><br> <font size=2>July 29th, 2005</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="235" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12.0pt;line-height:101.52%'><br> <br> <font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size=2>/s/ Hamish Malkin&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></u><br> <font size=2>Hamish Malkin</font></p> </td>
        <td width="276" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12.0pt;line-height:101.52%'><br> <br> <font size=2>Chief Financial Officer</font><br> <font size=2>(Principal Financial Officer)</font></p> </td>
        <td width="137" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:10.0pt;margin-bottom:0pt'><br> <font size=2>July 29th, 2005</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=1>- </font><font size=2>8 -</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>












<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font SIZE=2>EXHIBIT 4.1</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:12pt; margin-top:12pt;text-align:center;'><b><font size=2>ENTR&#201;E GOLD INC.</font></b></p>

<p style=' margin-bottom:12pt; margin-top:12pt;text-align:center;'><b><font SIZE=2>STOCK OPTION PLAN</font></b></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;'><b><font size=2>August 16, 2002</font></b></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>Approved by the Board</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>on August 15, 2002, the shareholders</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>on August 16, 2002 and the TSX</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>Venture on December 24, 2002.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>Paragraph 3.2 adjusted on October 9, 2002 to take into account</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>share consolidation on a two (old) for one (new) basis.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>Paragraph 3.9 amended on February 26, 2003</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>with effect from August 16, 2002.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>Paragraph 3.2 further amended on February 11, 2004.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>Plan amended on May 17, 2005 to increase ceiling and reflect</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>Tier 1 status.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>


<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>


<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>
<br>
<HR noshade align="center" width="100%" size="2">
<p style='page-break-before:always'></p>
<pAGE>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font SIZE=2>EXHIBIT 4.1</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;'><u><b><font SIZE=2>TABLE OF CONTENTS</font></b></u></p>

<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="616" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p  style='margin-top:0in'><font SIZE=2>&nbsp;</font></p> </td>
        <td width="27" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>Page</font></p> </td> </tr></table>


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    <tr >
        <td width="616" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p  style='margin-top:0in'><a href="#TOC2"><u><font SIZE=2>ARTICLE 1 DEFINITIONS AND INTERPRETATION</font></u></a></p> </td>
        <td width="27" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>2</font></p> </td> </tr></table>

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    <tr >
        <td width="60" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>1.1</font></p> </td>
        <td width="751" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Definitions</font></p> </td>
        <td width="67" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>2</font></p> </td> </tr>
    <tr >
        <td width="60" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>1.2</font></p> </td>
        <td width="751" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Choice of Law</font></p> </td>
        <td width="67" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>6</font></p> </td> </tr>
    <tr >
        <td width="60" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>1.3</font></p> </td>
        <td width="751" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Headings</font></p> </td>
        <td width="67" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>6</font></p> </td> </tr></table>

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    <tr >
        <td width="616" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p  style='margin-top:0in'><a href="#TOC6"><u><font SIZE=2>ARTICLE 2 PURPOSE AND PARTICIPATION</font></u></a></p> </td>
        <td width="27" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>6</font></p> </td> </tr></table>

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    <tr >
        <td width="60" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>2.1</font></p> </td>
        <td width="751" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Purpose</font></p> </td>
        <td width="67" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>6</font></p> </td> </tr>
    <tr >
        <td width="60" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>2.2</font></p> </td>
        <td width="751" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Participation</font></p> </td>
        <td width="67" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>6</font></p> </td> </tr>
    <tr >
        <td width="60" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>2.3</font></p> </td>
        <td width="751" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Notification of Award</font></p> </td>
        <td width="67" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>6</font></p> </td> </tr>
    <tr >
        <td width="60" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>2.4</font></p> </td>
        <td width="751" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Copy of Plan</font></p> </td>
        <td width="67" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>6</font></p> </td> </tr>
    <tr >
        <td width="60" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>2.5</font></p> </td>
        <td width="751" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Limitation</font></p> </td>
        <td width="67" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>7</font></p> </td> </tr></table>

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    <tr >
        <td width="616" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p  style='margin-top:0in'><a href="#TOC12"><u><font SIZE=2>ARTICLE 3 TERMS AND CONDITIONS OF OPTIONS</font></u></a></p> </td>
        <td width="27" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>7</font></p> </td> </tr></table>

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    <tr >
        <td width="60" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>3.1</font></p> </td>
        <td width="751" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Board to Issue Common Shares</font></p> </td>
        <td width="67" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>7</font></p> </td> </tr>
    <tr >
        <td width="60" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>3.2</font></p> </td>
        <td width="751" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Number of Common Shares</font></p> </td>
        <td width="67" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>7</font></p> </td> </tr>
    <tr >
        <td width="60" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>3.3</font></p> </td>
        <td width="751" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Term of Option</font></p> </td>
        <td width="67" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>7</font></p> </td> </tr>
    <tr >
        <td width="60" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>3.4</font></p> </td>
        <td width="751" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Termination</font></p> </td>
        <td width="67" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>7</font></p> </td> </tr>
    <tr >
        <td width="60" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>3.5</font></p> </td>
        <td width="751" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Exercise Price</font></p> </td>
        <td width="67" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>9</font></p> </td> </tr>
    <tr >
        <td width="60" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>3.6</font></p> </td>
        <td width="751" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Additional Terms</font></p> </td>
        <td width="67" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>9</font></p> </td> </tr>
    <tr >
        <td width="60" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>3.7</font></p> </td>
        <td width="751" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Assignment of Options</font></p> </td>
        <td width="67" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>10</font></p> </td> </tr>
    <tr >
        <td width="60" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>3.8</font></p> </td>
        <td width="751" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Adjustments</font></p> </td>
        <td width="67" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>10</font></p> </td> </tr>
    <tr >
        <td width="60" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>3.9</font></p> </td>
        <td width="751" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Vesting</font></p> </td>
        <td width="67" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>10</font></p> </td> </tr>
    <tr >
        <td width="60" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>3.10</font></p> </td>
        <td width="751" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Hold Period</font></p> </td>
        <td width="67" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>11</font></p> </td> </tr></table>

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        <td width="609" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p  style='margin-top:0in'><a href="#TOC23"><u><font SIZE=2>ARTICLE 4 EXERCISE OF OPTION</font></u></a></p> </td>
        <td width="35" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>11</font></p> </td> </tr></table>

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        <td width="60" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>4.1</font></p> </td>
        <td width="751" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Exercise of Option</font></p> </td>
        <td width="67" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>11</font></p> </td> </tr> </table>



<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>


<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>

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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>4.2</font></p> </td>
        <td width="751" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Issue of Share Certificates</font></p> </td>
        <td width="67" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>11</font></p> </td> </tr>
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        <td width="60" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>4.3</font></p> </td>
        <td width="751" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Condition of Issue</font></p> </td>
        <td width="67" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>11</font></p> </td> </tr>
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        <td width="60" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>4.4</font></p> </td>
        <td width="751" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Taxes</font></p> </td>
        <td width="67" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>11</font></p> </td> </tr></table>

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            <p  style='margin-top:0in'><a href="#TOC28"><u><font SIZE=2>ARTICLE 5 ADMINISTRATION</font></u></a></p> </td>
        <td width="35" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>12</font></p> </td> </tr></table>

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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>5.1</font></p> </td>
        <td width="751" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Administration</font></p> </td>
        <td width="67" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>12</font></p> </td> </tr>
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        <td width="60" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>5.2</font></p> </td>
        <td width="751" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Interpretation</font></p> </td>
        <td width="67" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>12</font></p> </td> </tr></table>

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            <p  style='margin-top:0in'><a href="#TOC31"><u><font SIZE=2>ARTICLE 6 AMENDMENT, TERMINATION AND NOTICE</font></u></a></p> </td>
        <td width="35" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=2>12</font></p> </td> </tr></table>

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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>6.1</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Prospective Amendment</font></p> </td>
        <td width="67" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>12</font></p> </td> </tr>
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        <td width="60" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>6.2</font></p> </td>
        <td width="751" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Retrospective Amendment</font></p> </td>
        <td width="67" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>12</font></p> </td> </tr>
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        <td width="60" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>6.3</font></p> </td>
        <td width="751" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Amendment to Option</font></p> </td>
        <td width="67" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>12</font></p> </td> </tr>
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        <td width="60" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>6.4</font></p> </td>
        <td width="751" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Approvals</font></p> </td>
        <td width="67" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>13</font></p> </td> </tr>
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        <td width="60" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>6.5</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Termination</font></p> </td>
        <td width="67" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>13</font></p> </td> </tr>
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        <td width="60" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>6.6</font></p> </td>
        <td width="751" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Agreement</font></p> </td>
        <td width="67" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>13</font></p> </td> </tr>
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        <td width="60" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>6.7</font></p> </td>
        <td width="751" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Notice</font></p> </td>
        <td width="67" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>13</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font SIZE=2>EXHIBIT 4.1</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:18pt; margin-top:12pt;text-align:center;'><u><b><font SIZE=2>STOCK OPTION PLAN</font></b></u></p>

<p STYLE=' MARGIN-BOTTOM:0PT; MARGIN-TOP:12PT;TEXT-ALIGN:CENTER;'><B><FONT SIZE=2>ARTICLE 1 </FONT></B></P>

<p STYLE=' MARGIN-BOTTOM:0PT; MARGIN-TOP:0PT;TEXT-ALIGN:CENTER;'><B><FONT SIZE=2><A NAME="TOC2"></A>DEFINITIONS AND INTERPRETATION</FONT></B></P>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2><a name="toc3"></a>1.1</font></p> </td>
        <td width="85" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><u><font size=2>Definitions</font></u></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>As used herein, unless there is something in the subject matter or context inconsistent therewith, the following terms shall have the meanings set forth below:</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(a)</font></p> </td>
        <td  valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>&#147;Administrator&#148; means, initially, the Secretary of the Company and thereafter shall mean such director or other senior officer or employee of the Company as may be designated as Admini&#173;strator by the Board from time to time.</font></p> </td> </tr></table>

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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(b)</font></p> </td>
        <td width="477" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>&#147;Award Date&#148; means the date on which the Board awards a particular Option.</font></p> </td> </tr></table>

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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(c)</font></p> </td>
        <td width="528" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>&#147;Board&#148; means the board of directors of the Company, or any committee thereof to which the board of directors of the Company has delegated the power to administer and grant Options under the Plan.</font></p> </td> </tr></table>

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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(d)</font></p> </td>
        <td width="115" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>&#147;Cause&#148; means:</font></p> </td> </tr></table>

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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td>
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(i)</font></p> </td>
        <td width="480" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>in the case of an Employee (1) cause as such term is defined in the written employment agreement with the Employee or if there is no written employment agreement or cause is not defined therein, the usual meaning of just cause under the common law or the laws of the jurisdiction in which the employee is employed; or (2) the termination of employment as a result of an order made by any Regulatory Authority having jurisdiction to so order;</font></p> </td> </tr>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td>
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(ii)</font></p> </td>
        <td width="480" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>in the case of a Consultant (1) the occurrence of any event which, under the written consulting contract with the Consultant or the common law or the laws of the jurisdiction in which the consultant provides services, gives the Company or any of its affiliates the right to immediately terminate the consulting contract; or (2) the termination of the consulting contract as a result of an order made by any Regulatory Authority having jurisdiction to so order; </font></p> </td> </tr>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td>
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(iii)</font></p> </td>
        <td width="480" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>in the case of a Director, ceasing to be a Director as a result of (1) ceasing to meet the qualifications set out in the corporate legislation to which the Company is subject; (2) a resolution having been passed by the shareholders; or (3) an order made by any Regulatory Authority having jurisdiction to so order; or</font></p> </td> </tr>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td>
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(iv)</font></p> </td>
        <td width="480" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>in the case of an Officer, ceasing to be an Officer as a result of an order made by any Regulatory Authority having jurisdiction to so order.  </font></p> </td> </tr>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(e)</font></p> </td>
        <td  colspan="2" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>&#147;Change of Control&#148; means and shall be deemed to have occurred if one of the following events takes place:</font></p> </td> </tr>
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        <td width="48" ></td>

        <td width="480" ></td> </tr> </table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td>
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(i)</font></p> </td>
        <td  valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>the Company sells, leases or otherwise disposes of all or substantially all of its assets and undertaking to a Person or a combination of Persons at arm&#146;s length to the Company and its affiliates, whether pursuant to one or more transactions;</font></p> </td> </tr>
    <tr >
        <td  width="48">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td>
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(ii)</font></p> </td>
        <td  valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>the Company amalgamates or enters into a plan of arrangement with another company at arm&#146;s length to the Company and its affiliates, other than an amalgamation or plan of arrangement that would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving or resulting entity) more than 50% of the combined voting power of the surviving or resulting entity outstanding immediately after such amalgamation or plan of arrangement; </font></p> </td> </tr>
    <tr >
        <td  width="48">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td>
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(iii)</font></p> </td>
        <td  valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>any Person or combination of Persons at arm&#146;s length to the Company and its affiliates acquires or becomes the beneficial owner of, directly or indirectly, more than 50% of the voting securities of the Company, whether through the acquisition of previously issued and outstanding voting securities, or of voting securities that have not been previously issued, or any combination thereof, or any other transaction having a similar effect; or</font></p> </td> </tr>
    <tr >
        <td  width="48">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td>
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(iv)</font></p> </td>
        <td  valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>any resolution is passed or any action or proceeding is taken with respect to the liquidation, dissolution or winding-up of the Company.</font></p> </td> </tr>
    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(f)</font></p> </td>
        <td  colspan="2" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>&#147;Common Share&#148; or &#147;Common Shares&#148; means, as the case may be, one or more common shares without par value in the capital of the Company.</font></p> </td> </tr>
    <tr>
        <td width="48" ></td>

        <td width="48" ></td>

        <td  ></td> </tr> </table>

<table border="0" cellspacing=0 cellpadding=0 width="481" style='margin-left:.5in;border-collapse:collapse'>
    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(g)</font></p> </td>
        <td width="433" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>&#147;Company&#148; means Entr&#233;e Gold Inc. (formerly Entr&#233;e Resources Inc.).  </font></p> </td> </tr></table>

<table width="100%" border="0" cellspacing=0 cellpadding=0 style='margin-left:.5in;border-collapse:collapse'>
    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(h)</font></p> </td>
        <td width="528" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>&#147;Consultant&#148; has the meaning given to that term in Multilateral Instrument 45-105, and for the purposes of the Plan includes consultants of the Company and any of its affiliates. </font></p> </td> </tr>
    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(i)</font></p> </td>
        <td width="528" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>&#147;Director&#148; has the meaning given to that term in the </font><i><font size=2>Securities Act </font></i><font size=2>(British Columbia), and for the purposes of the Plan includes directors of the Company and any of its affiliates. </font></p> </td> </tr>
    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(j)</font></p> </td>
        <td width="528" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>&#147;Discounted Market Price&#148; of the Common Shares for a particular Award Date means the Market Price of the Common Shares for a particular Award Date less a discount to be determined by the Board, which in any event shall not exceed the amount set forth under Policy 1.1 of the TSX Venture Corporate Finance Manual, as amended or replaced from time to time.</font></p> </td> </tr></table>

<table border="0" cellspacing=0 cellpadding=0 width="505" style='margin-left:.5in;border-collapse:collapse'>
    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(k)</font></p> </td>
        <td width="457" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>&#147;Eligible Persons&#148; means Directors, Officers, Employees and Consultants.</font></p> </td> </tr></table>

<table width="100%" border="0" cellspacing=0 cellpadding=0 style='margin-left:.5in;border-collapse:collapse'>
    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(l)</font></p> </td>
        <td width="528" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>&#147;Employee&#148; has the meaning given to that term in BC Policy 45-601, and for the purposes of the Plan includes employees of the Company and any of its affiliates.</font></p> </td> </tr>
    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(m)</font></p> </td>
        <td width="528" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>&#147;Exercise Notice&#148; means the notice respecting the exercise of an Option, in the form set out as Schedule &#147;B&#148; hereto, duly executed by the Option Holder.</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>


<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>
<br>
<HR noshade align="center" width="100%" size="2">
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<pAGE>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table  border="0" cellspacing=0 cellpadding=0 style='margin-left:.5in;border-collapse:collapse'>
    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(n)</font></p> </td>
        <td  valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>&#147;Exercise Period&#148; means the period during which a particular Option may be exercised and is the period from and including the Award Date through to and including the Expiry Date.</font></p> </td> </tr>
    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(o)</font></p> </td>
        <td  valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>&#147;Exercise Price&#148; means the price at which an Option may be exercised as determined in accordance with paragraph 3.5.</font></p> </td> </tr>
    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(p)</font></p> </td>
        <td  valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>&#147;Expiry Date&#148; means the date determined in accordance with paragraph 3.4 and after which a particular Option cannot be exercised.</font></p> </td> </tr></table>

<table border="0" cellspacing=0 cellpadding=0 width="567" style='margin-left:.5in;border-collapse:collapse'>
    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(q)</font></p> </td>
        <td width="475" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>&#147;Fixed Expiry Date&#148; has the meaning given to that term under paragraph 3.4.</font></p> </td>
        <td  width="44">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(r)</font></p> </td>
        <td  colspan="2" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>&#147;insider&#148; has the meaning given to that term in the </font><i><font size=2>Securities Act </font></i><font size=2>(British Columbia).</font></p> </td> </tr></table>

<table width="100%" border="0" cellspacing=0 cellpadding=0 style='margin-left:.5in;border-collapse:collapse'>
    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(s)</font></p> </td>
        <td  colspan="2" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>&#147;Market Price&#148; of the Common Shares for a particular Award Date shall be determined as follows:</font></p> </td> </tr>
    <tr >
        <td  width="48">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td>
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(i)</font></p> </td>
        <td width="480" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>for each organized trading facility on which the Common Shares are listed, Market Price shall be the closing trading price of the Common Shares on the last trading day immediately preceding the Award Date;</font></p> </td> </tr>
    <tr >
        <td  width="48">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td>
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(ii)</font></p> </td>
        <td width="480" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>if the Common Shares are listed on more than one organized trading facility, then Market Price shall be the greater of the Market Prices deter&#173;mined for each organized trading facility on which those Common Shares are listed as determined for each organized trading facility in accordance with section (i) above;</font></p> </td> </tr>
    <tr >
        <td  width="48">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td>
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(iii)</font></p> </td>
        <td width="480" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>if the Common Shares are listed on one or more organized trading facility but have not traded during the 10 trading day period immediately preceding the Award Date, then the Market Price shall be, subject to the necessary approvals of the applicable Regulatory Authorities, such value as is determined by resolution of the Board; and</font></p> </td> </tr>
    <tr >
        <td  width="48">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td>
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(iv)</font></p> </td>
        <td width="480" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>if the Common Shares are not listed on any organized trading facility, then the Market Price shall be, subject to the necessary approvals of the applicable Regulatory Authorities, the fair market value of the Common Shares on the Award Date as determined by the Board in its discretion.</font></p> </td> </tr>
    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(t)</font></p> </td>
        <td  colspan="2" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>&#147;Officer&#148; means a senior officer as such term is defined in the </font><i><font size=2>Securities Act </font></i><font size=2>(British Columbia), and for the purposes of the Plan includes senior officers of the Company and any of its affiliates.</font></p> </td> </tr>
    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(u)</font></p> </td>
        <td  colspan="2" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>&#147;Option&#148; means an option to acquire Common Shares, awarded to an Eligible Person pursuant to the Plan.</font></p> </td> </tr>
    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(v)</font></p> </td>
        <td  colspan="2" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>&#147;Option Certificate&#148; means the certificate, in the form set out as Schedule &#147;A&#148; hereto, evidencing an Option.</font></p> </td> </tr>
    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(w)</font></p> </td>
        <td  colspan="2" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>&#147;Option Holder&#148; means a person who holds an unexercised and unexpired Option or, where appli&#173;cable, the Personal Representative of such person.</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>


<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table  border="0" cellspacing=0 cellpadding=0 style='margin-left:.5in;border-collapse:collapse'>
    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(x)</font></p> </td>
        <td  valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>&#147;Person&#148; means any individual, partnership, limited partnership, joint venture, syndicate, sole proprietorship, company or corporation with or without share capital, unincorporated association, trust, trustee, executor, administrator or other legal personal representative, regulatory body or agency, government or governmental agency or entity however designated or constituted.</font></p> </td> </tr></table>

<table border="0" cellspacing=0 cellpadding=0 width="268" style='margin-left:.5in;border-collapse:collapse'>
    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(y)</font></p> </td>
        <td width="220" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>&#147;Personal Representative&#148; means:</font></p> </td> </tr></table>

<table width="100%" border="0" cellspacing=0 cellpadding=0 style='margin-left:.5in;border-collapse:collapse'>
    <tr >
        <td  width="48">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td>
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(i)</font></p> </td>
        <td width="480" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>in the case of a deceased Option Holder, the executor or administrator of the deceased duly appointed by a court or public authority having jurisdiction to do so; and</font></p> </td> </tr>
    <tr >
        <td  width="48">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td>
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(ii)</font></p> </td>
        <td width="480" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>in the case of an Option Holder who for any reason is unable to manage his or her affairs, the person entitled by law to act on behalf of such Option Holder.</font></p> </td> </tr>
    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(z)</font></p> </td>
        <td  colspan="2" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>&#147;Plan&#148; means this stock option plan dated August 16, 2002, as amended or restated from time to time. </font></p> </td> </tr>
    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(aa)</font></p> </td>
        <td  colspan="2" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>&#147;Regulatory Authorities&#148; means all stock exchanges, inter-dealer quotation networks and other organized trading facilities on which the Company&#146;s Shares are listed and all securities commis&#173;sions or similar securities regulatory bodies having jurisdiction over the Company.</font></p> </td> </tr>
    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(bb)</font></p> </td>
        <td  colspan="2" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>&#147;Securities Laws&#148; means securities legislation, securities regulations and securities rules, as amended, and all published rules, orders, notices, instruments and policies in force from time to time that are applicable to the Company.</font></p> </td> </tr>
    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(cc)</font></p> </td>
        <td  colspan="2" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>&#147;Share&#148; or &#147;Shares&#148; means, as the case may be, one or more shares of any class in the share capital of the Company from time to time. </font></p> </td> </tr></table>

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    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(dd)</font></p> </td>
        <td width="181" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>&#147;Termination Date&#148; means:</font></p> </td> </tr></table>

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    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(i)</font></p> </td>
        <td width="480" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>in the case of the Option Holder&#146;s resignation from employment or the termination of the Option Holder&#146;s consulting contract by the Option Holder, the date that the Option Holder provides notice of such resignation or termination to the Company or any of its affiliates; or</font></p> </td> </tr>
    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(ii)</font></p> </td>
        <td width="480" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>in the case of the termination of the Option Holder&#146;s employment or consulting contract by the Company or any of its affiliates for any reason (whether such termination is lawful or unlawful) other than death, the date that the Company or any of its affiliates delivers written notice of such lawful or unlawful termination of the Option Holder&#146;s employment or consulting contract to the Option Holder; or</font></p> </td> </tr>
    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(iii)</font></p> </td>
        <td width="480" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>in the case of the expiry of a fixed-term employment agreement or consulting contract that is not renewed or extended, the last day of the term.</font></p> </td> </tr></table>

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    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(ee)</font></p> </td>
        <td width="323" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>&#147;TSX Venture&#148; means the TSX Venture Exchange.</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2><a name="toc4"></a>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>


<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>
<br>
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<pAGE>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>


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    <tr >
        <td width="96" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>1.2</font></p> </td>
        <td width="108" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><u><font size=2>Choice of Law</font></u></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>The Plan is established under, and the provisions of the Plan shall be subject to and interpreted and construed in accordance with, the laws of the Province of British Columbia.</font></p>


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    <tr >
        <td width="96" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2><a name="toc5"></a>1.3</font></p> </td>
        <td width="75" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><u><font size=2>Headings</font></u></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>The headings used herein are for convenience only and are not to affect the interpretation of the Plan.</font></p>

<p STYLE=' MARGIN-BOTTOM:0PT; MARGIN-TOP:12PT;TEXT-ALIGN:CENTER;'><B><FONT SIZE=2>ARTICLE 2 </FONT></B></P>

<p STYLE=' MARGIN-BOTTOM:0PT; MARGIN-TOP:0PT;TEXT-ALIGN:CENTER;'><B><FONT SIZE=2><A NAME="TOC6"></A>PURPOSE AND PARTICIPATION</FONT></B></P>


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    <tr >
        <td width="96" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2><a name="toc7"></a>2.1</font></p> </td>
        <td width="68" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><u><font size=2>Purpose</font></u></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>The purpose of the Plan is to provide the Company with a share-related mechanism to attract, retain and motivate qualified Directors, Officers, Consultants and Employees, to reward such of those Directors, Officers, Consultants and Employees as may be awarded Options under the Plan by the Board from time to time for their contributions toward the long term goals of the Company and to enable and encourage such Directors, Officers, Consultants and Employees to acquire Common Shares as long term investments.</font></p>


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    <tr >
        <td width="96" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2><a name="toc8"></a>2.2</font></p> </td>
        <td width="93" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><u><font size=2>Participation</font></u></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>The Board shall, from time to time and in its sole discretion, determine which of the Eligible Persons, if any, shall be awarded Options.  The Board shall only award an Option to a Consultant or an Employee if the Consultant or Employee is a bona fide Consultant or Employee of the Company or an affiliate of the Company, and the Board shall make such a representation if required by the Regulatory Authorities.    The Board may, in its sole discretion, award the majority of the Options to insiders of the Company.  However, in no case shall:</font></p>


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    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(a)</font></p> </td>
        <td  valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>the Board award Options to purchase more than 2% of the issued shares of the Company to any one Consultant in a one-year period (calculated at the time of award); or</font></p> </td> </tr>
    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(b)</font></p> </td>
        <td  valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>the Board award, in the aggregate, Options to purchase more than 2% of the issued shares of the Company to persons employed to provide investor relations activities in a one-year period (calculated at the time of award).  </font></p> </td> </tr></table>

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    <tr >
        <td width="96" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2><a name="toc9"></a>2.3</font></p> </td>
        <td width="151" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><u><font size=2>Notification of Award</font></u></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>Following the award of an Option by the Board, the Administrator shall notify the Option Holder in writing of the award and shall enclose with such notice the Option Certificate representing the Option so awarded.</font></p>


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    <tr >
        <td width="96" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2><a name="toc10"></a>2.4</font></p> </td>
        <td width="97" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><u><font size=2>Copy of Plan</font></u></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>Each Option Holder, concurrently with the notice of the award of the Option, shall be provided with a copy of the Plan.  A copy of any amendment to the Plan shall be promptly provided by the Administrator to each Option Holder.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2><a name="toc11"></a>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>


<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>


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    <tr >
        <td width="96" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>2.5</font></p> </td>
        <td width="81" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><u><font size=2>Limitation</font></u></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>The Plan does not give any Option Holder that is a Director or Officer the right to serve or continue to serve as a Director or Officer of the Company or any of its affiliates nor does it give any Option Holder that is an Employee or Consultant the right to be or to continue to be employed with or have a consulting contract with the Company or any of its affiliates.</font></p>

<p STYLE=' MARGIN-BOTTOM:0PT; MARGIN-TOP:12PT;TEXT-ALIGN:CENTER;'><B><FONT SIZE=2>ARTICLE 3 </FONT></B></P>

<p STYLE=' MARGIN-BOTTOM:0PT; MARGIN-TOP:0PT;TEXT-ALIGN:CENTER;'><B><FONT SIZE=2><A NAME="TOC12"></A>TERMS AND CONDITIONS OF OPTIONS</FONT></B></P>


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    <tr >
        <td width="96" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2><a name="toc13"></a>3.1</font></p> </td>
        <td width="205" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><u><font size=2>Board to Issue Common Shares</font></u></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>The Common Shares to be issued to Option Holders upon the exercise of Options shall be authorized and unissued Common Shares the issuance of which shall have been authorized by the Board.</font></p>


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    <tr >
        <td width="96" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2><a name="toc14"></a>3.2</font></p> </td>
        <td width="185" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><u><font size=2>Number of Common Shares</font></u></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>Subject to adjustment as provided for in paragraph 3.8 of the Plan, the number of Common Shares which shall be available for Eligible Persons to acquire pursuant to Options granted under the Plan shall not exceed </font><b><font size=2>10,176,613</font></b><font size=2> Common Shares.  If any Option expires or otherwise terminates for any reason without having been exercised in full, the number of Common Shares in respect of which the Option was not exercised shall again be available for the purposes of the Plan.  </font></p>


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    <tr >
        <td width="96" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2><a name="toc15"></a>3.3</font></p> </td>
        <td width="111" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><u><font size=2>Term of Option</font></u></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>Subject to such other terms or conditions that may be attached to an Option granted hereunder, an Option Holder may exercise any vested portion or portions of an Option in whole or in part at any time or from time to time during the Exercise Period.  Any Option or part thereof not exercised within the Exercise Period shall terminate and become null, void and of no effect as of 5:00 p.m. local time in Vancouver, British Columbia on the Expiry Date.</font></p>


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    <tr >
        <td width="96" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2><a name="toc16"></a>3.4</font></p> </td>
        <td width="92" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><u><font size=2>Termination</font></u></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>Subject to subparagraphs (a) to (e) below, the Expiry Date of an Option shall be the date fixed by the Board at the time the particular Option is awarded (the &#147;Fixed Expiry Date&#148;), provided that the Expiry Date shall be no later than the tenth anniversary of the Award Date of such Option: </font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>


<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>


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    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(a)</font></p> </td>
        <td width="56" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><u><font size=2>Death</font></u></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt; margin-left:1in;text-align:justify;'><font size=2>If the Option Holder dies while his or her Option is outstanding, then unless otherwise provided for in the Option Certificate, the following shall apply.  The Expiry Date for any vested portion or portions of the Option shall be the earlier of the Fixed Expiry Date and the date that is six months after the date of the Option Holder&#146;s death.  The Expiry Date for any unvested portion of the Option shall be the date of the Option Holder&#146;s death.  The right to purchase Common Shares under an Option shall not vest after the date of the Option Holder&#146;s death.  </font></p>


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    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(b)</font></p> </td>
        <td width="163" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><u><font size=2>Ceasing to be a Director</font></u></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt; margin-left:1in;text-align:justify;'><font size=2>If the Option Holder holds an Option as a Director and the Option Holder ceases to be a Director (other than by reason of death), then unless otherwise provided for in the Option Certificate, the following shall apply.  The Expiry Date for any vested portion or portions of the Option shall be the earlier of the Fixed Expiry Date and the 90th day following the date that the Option Holder ceases to be a Director unless the Option Holder ceases to be a Director for Cause, in which case the Expiry Date shall be the date that the Option Holder ceases to be a Director.  The Expiry Date for any unvested portion of the Option shall be the date that the Option Holder ceases to be a Director.  The right to purchase Common Shares under an Option shall not vest after the date that the Option Holder ceases to be a Director.</font></p>


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    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(c)</font></p> </td>
        <td width="263" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><u><font size=2>Ceasing to be an Employee or Consultant</font></u></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt; margin-left:1in;text-align:justify;'><font size=2>If the Option Holder holds an Option as an Employee or Consultant and the Option Holder ceases to be an Employee or Consultant (other than by reason of death), then unless otherwise provided for in the Option Certificate, the following shall apply.  The Expiry Date for any vested portion or portions of the Option shall be the earlier of the Fixed Expiry Date and the 90th day following the Termination Date unless the Option Holder ceases to be an Employee or Consultant as a result of Cause, in which case the Expiry Date shall be the Termination Date.  The Expiry Date for any unvested portion of the Option shall be the Termination Date.  The right to purchase Common Shares under an Option shall not vest after the Termination Date.  </font></p>


<table border="0" cellspacing=0 cellpadding=0 width="212" style='margin-left:.5in;border-collapse:collapse'>
    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(d)</font></p> </td>
        <td width="164" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><u><font size=2>Ceasing to be an Officer</font></u></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt; margin-left:1in;text-align:justify;'><font size=2>If the Option Holder holds an Option as an Officer and the Option Holder ceases to be an Officer (other than by reason of death), then unless otherwise provided for in the Option Certificate, the following shall apply.  The Expiry Date for any vested portion or portions of the Option shall be the earlier of the Fixed Expiry Date and the 90th day following the date that the Option Holder ceases to be an Officer unless the Option Holder ceases to be an Officer for Cause, in which case the Expiry Date shall be the date that the Option Holder ceases to be an Officer.  The Expiry Date for any unvested portion of the Option shall be the date that the Option Holder ceases to be an Officer.  The right to purchase Common Shares under an Option shall not vest after the date that the Option Holder ceases to be an Officer.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>


<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>
<br>
<HR noshade align="center" width="100%" size="2">
<p style='page-break-before:always'></p>
<pAGE>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="176" style='margin-left:.5in;border-collapse:collapse'>
    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(e)</font></p> </td>
        <td width="128" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><u><font size=2>Change of Control</font></u></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt; margin-left:1in;text-align:justify;'><font size=2>In the event of a Change of Control or impending Change of Control, the Board may, in its sole discretion, deal with outstanding Options in the manner it deems fair and reasonable in light of the circumstances.  Without limiting the generality of the foregoing, the Board may, without any action or consent required on the part of any Option Holder:</font></p>


<table  border="0" cellspacing=0 cellpadding=0 style='margin-left:1.0in;border-collapse:collapse'>
    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(i)</font></p> </td>
        <td  valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>deliver a notice to the Option Holder advising the Option Holder that the unvested portion of the Option held by the Option Holder, if any, shall immediately vest;</font></p> </td> </tr>
    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(ii)</font></p> </td>
        <td  valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>deliver a notice to an Option Holder advising the Option Holder that the Expiry Date for any vested portion or portions of the Option shall be the earlier of the Fixed Expiry Date and the 5</font><sup><font size=2>th</font></sup><font size=2> day following the date of the notice and the Expiry Date for any unvested portion of the Option shall be the date of the notice; or</font></p> </td> </tr>
    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(iii)</font></p> </td>
        <td  valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>take such other actions, and combinations of the foregoing actions, as it deems fair and reasonable under the circumstances.</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>The foregoing subparagraphs (b) through (d) shall only apply once an Option Holder ceases to fall into any of the categories of Eligible Persons.  The Board and the Administrator shall look to which of the definitions of Employee, Director, Officer or Consultant the Option Holder met immediately prior to the Option Holder ceasing to be an Eligible Person to determine which of subparagraphs (b) through (d) shall apply.  If the Option Holder met more than one definition, then the following shall apply.  If the Option Holder was a Director, then the Option Holder shall be deemed to hold his or her Option as a Director regardless of whether the Option Holder was also an Officer, Employee or Consultant.  If the Option Holder was an Officer but not a Director, then the Option Holder shall be deemed to hold his or her Option as an Officer regardless of whether the Option Holder was also an Employee or Consultant. </font></p>


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    <tr >
        <td width="96" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2><a name="toc17"></a>3.5</font></p> </td>
        <td width="105" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><u><font size=2>Exercise Price</font></u></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>The price at which an Option Holder may purchase a Common Share upon the exercise of an Option shall be as set forth in the Option Certificate issued in respect of such Option and in any event shall not be less than the Discounted Market Price of the Common Shares as of the Award Date.  Notwithstanding anything else contained herein, in no case shall the Exercise Price be less than the minimum prescribed by each of the organized trading facilities as would apply to the Award Date in question. </font></p>


<table border="0" cellspacing=0 cellpadding=0 width="220" style='border-collapse:collapse'>
    <tr >
        <td width="96" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2><a name="toc18"></a>3.6</font></p> </td>
        <td width="124" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><u><font size=2>Additional Terms</font></u></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>Subject to all applicable Securities Laws and the rules and policies of all applicable Regulatory Authorities, the Board may attach other terms and conditions to the award of a particular Option, such terms and conditions to be referred to in a schedule attached to the Option Certificate.  These terms and conditions may include, but are not necessarily limited to, providing that an Option or a portion or portions of an Option expire on a certain date, after certain periods of time or upon the occurrence of certain events other than as provided for herein, provided that no Option shall expire more than ten years after the Award Date.  </font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2><a name="toc19"></a>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>


<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>
<br>
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<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="251" style='border-collapse:collapse'>
    <tr >
        <td width="96" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>3.7</font></p> </td>
        <td width="155" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><u><font size=2>Assignment of Options</font></u></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>Options may not be assigned or transferred, provided however that the Personal Representative of an Option Holder may, to the extent permitted by paragraph 4.1, exercise the Option within the Exercise Period.</font></p>


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    <tr >
        <td width="96" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2><a name="toc20"></a>3.8</font></p> </td>
        <td width="93" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><u><font size=2>Adjustments</font></u></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>If:</font></p>


<table  border="0" cellspacing=0 cellpadding=0 style='margin-left:.5in;border-collapse:collapse'>
    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(a)</font></p> </td>
        <td  valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>the Common Shares are changed into or exchanged for a different number or kind of Shares of the Company or securities of another corporation, whether through an arrangement, amalgamation or other similar procedure or otherwise, or a share recapitalization, subdivision or consolidation;</font></p> </td> </tr>
    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(b)</font></p> </td>
        <td  valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>a dividend is declared upon the Common Shares, payable in Common Shares (other than in lieu of dividends paid in the ordinary course);</font></p> </td> </tr>
    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(c)</font></p> </td>
        <td  valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>the Company distributes by way of a dividend, or otherwise, to all or substantially all holders of Common Shares, property, evidences of indebtedness or Shares or other securities of the Company (other than Common Shares) or rights, options or warrants to acquire Common Shares or securities convertible into or exchangeable for Common Shares or other securities or property of the Company, other than as a dividend in the ordinary course; or </font></p> </td> </tr>
    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(d)</font></p> </td>
        <td  valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>there is any other change that the Board, in its sole discretion, determines equitably requires an adjustment to be made,</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>then, subject to any required action by the shareholders of the Company and any necessary Regulatory Approval, any term that the Board determines requires adjustment (including the number of Common Shares subject to each outstanding Option and the number of Common Shares that have been authorized for issuance under the Plan but as to which no Options have yet been granted or that have again become available for the purposes of the Plan, the Exercise Price of each outstanding Option, as well as any other terms that the Board determines require adjustment) shall be adjusted by the Board in the manner the Board deems appropriate and its determination shall be final, binding and conclusive.  Except as the Board determines, no issuance by the Company of Shares of any class, or securities convertible into Shares of any class, shall affect, and no adjustment by reason thereof shall be made with respect to, the
number or Exercise Price of Common Shares subject to an Option.  No fractional shares shall be issued upon the exercise of an Option and accordingly, if as a result of the adjustment, an Option Holder would become entitled to a fractional Common Share, such Option Holder shall have the right to purchase only the next lowest whole number of Common Shares and no payment or other adjustment shall be made with respect to the fractional interest so disregarded.</font></p>


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    <tr >
        <td width="96" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2><a name="toc21"></a>3.9</font></p> </td>
        <td width="65" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><u><font size=2>Vesting</font></u></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>An Option awarded to a Consultant performing investor relations activities shall vest in stages over 12 months, such that the right to purchase 25% of the Common Shares subject to the Option shall vest in each three-month period.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2><a name="toc22"></a>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>


<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>
<br>
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<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="187" style='border-collapse:collapse'>
    <tr >
        <td width="96" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>3.10</font></p> </td>
        <td width="91" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><u><font size=2>Hold Period</font></u></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>In the event the Board awards an Option with an Exercise Price that is based on the Discounted Market Price, Common Shares issued upon the exercise of the Option shall be subject to a four-month TSX Venture hold period from the Award Date of the Option.  The Option Certificate and the share certificate, if applicable, shall bear the following legend:</font></p>

<p style=' margin-bottom:12pt; margin-top:12pt;text-align:justify;'><i><font size=2>&#147;Without prior written approval of the TSX Venture Exchange and compliance with all applicable securities legislation, the securities represented by this certificate may not be sold, transferred, hypothecated or otherwise traded on or through the facilities of the TSX Venture Exchange or otherwise in Canada or to or for the benefit of a Canadian resident until </font><b><font size=2>[date]</font></b><font size=2>.&#148;</font></i></p>

<p STYLE=' MARGIN-BOTTOM:0PT; MARGIN-TOP:12PT;TEXT-ALIGN:CENTER;'><B><FONT SIZE=2>ARTICLE 4 </FONT></B></P>

<p STYLE=' MARGIN-BOTTOM:0PT; MARGIN-TOP:0PT;TEXT-ALIGN:CENTER;'><B><FONT SIZE=2><A NAME="TOC23"></A>EXERCISE OF OPTION</FONT></B></P>


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    <tr >
        <td width="96" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2><a name="toc24"></a>4.1</font></p> </td>
        <td width="131" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><u><font size=2>Exercise of Option</font></u></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>An Option may be exercised only by the Option Holder or the Personal Representative of the Option Holder.  An Option Holder or the Personal Representative of the Option Holder may exercise the vested portion or portions of an Option in whole or in part at any time or from time to time during the Exercise Period up to 5:00 p.m. local time in Vancouver, British Columbia on the Expiry Date by delivering to the Administrator an Exercise Notice, the applicable Option Certificate and a certified cheque or bank draft payable to the Company in an amount equal to the aggregate Exercise Price of the Common Shares to be purchased pursuant to the exercise of the Option.</font></p>


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    <tr >
        <td width="96" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2><a name="toc25"></a>4.2</font></p> </td>
        <td width="175" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><u><font size=2>Issue of Share Certificates</font></u></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>As soon as practicable following the receipt of the Exercise Notice, the Administrator shall cause to be delivered to the Option Holder a certificate for the Common Shares purchased by the Option Holder.  If the number of Common Shares in respect of which the Option was exercised is less than the number of Common Shares subject to the Option Certificate surrendered, the Administrator shall forward a new Option Certificate to the Option Holder concurrently with delivery of the share certificate for the balance of the Common Shares available under the Option.</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="225" style='border-collapse:collapse'>
    <tr >
        <td width="96" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2><a name="toc26"></a>4.3</font></p> </td>
        <td width="129" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><u><font size=2>Condition of Issue</font></u></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>The Options and the issue of Common Shares by the Company pursuant to the exercise of Options are subject to the terms and conditions of the Plan and compliance with the rules and policies of all applicable Regulatory Authorities with respect to the granting of such Options and the issuance and distribution of such Common Shares, and to all applicable Securities Laws.  The Option Holder agrees to comply with all such laws, regulations, rules and policies and agrees to furnish to the Company any information, reports or undertakings required to comply with, and to fully cooperate with, the Company in complying with such laws, regulations, rules and policies.</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="152" style='border-collapse:collapse'>
    <tr >
        <td width="96" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2><a name="toc27"></a>4.4</font></p> </td>
        <td width="56" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><u><font size=2>Taxes</font></u></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>The Board and the Company may take all such measures as they deem appropriate to ensure that the Company&#146;s obligations under the withholding provisions under income tax laws applicable to the Company and other provisions of applicable laws are satisfied with respect to the issuance of Common </font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>&nbsp;</font></p>


<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>&nbsp;</font></p>
<br>
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<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>Shares pursuant to the Plan or the grant or exercise of Options under the Plan.  Issuance of Common Shares or delivery of share certificates for Common Shares purchased pursuant to the Plan may be delayed, at the discretion of the Board, until the Board is satisfied that the applicable requirements of income tax laws and other applicable laws have been met.</font></p>

<p STYLE=' MARGIN-BOTTOM:0PT; MARGIN-TOP:12PT;TEXT-ALIGN:CENTER;'><B><FONT SIZE=2>ARTICLE 5 </FONT></B></P>

<p STYLE=' MARGIN-BOTTOM:0PT; MARGIN-TOP:0PT;TEXT-ALIGN:CENTER;'><B><FONT SIZE=2><A NAME="TOC28"></A>ADMINISTRATION</FONT></B></P>


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    <tr >
        <td width="96" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2><a name="toc29"></a>5.1</font></p> </td>
        <td width="108" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><u><font size=2>Administration</font></u></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>The Plan shall be administered by the Board.  The Board may make, amend and repeal at any time and from time to time such regulations not inconsistent with the Plan as it may deem necessary or advisable for the proper administration and operation of the Plan and such regulations shall form part of the Plan.  The Board may delegate to the Administrator or any director, officer or employee of the Company such administrative duties and powers as it may see fit.</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2><a name="toc30"></a>5.2</font></p> </td>
        <td width="99" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><u><font size=2>Interpretation</font></u></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>The interpretation by the Board of any of the provisions of the Plan and any determination by it pursuant thereto shall be final and conclusive and shall not be subject to any dispute by any Option Holder.  No member of the Board or any person acting pursuant to authority delegated by it hereunder shall be liable for any action or determination in connection with the Plan made or taken in good faith and each member of the Board and each such person shall be entitled to indemnification with respect to any such action or determination in the manner provided for by the Company.</font></p>

<p STYLE=' MARGIN-BOTTOM:0PT; MARGIN-TOP:12PT;TEXT-ALIGN:CENTER;'><B><FONT SIZE=2>ARTICLE 6 </FONT></B></P>

<p STYLE=' MARGIN-BOTTOM:0PT; MARGIN-TOP:0PT;TEXT-ALIGN:CENTER;'><B><FONT SIZE=2><A NAME="TOC31"></A>AMENDMENT, TERMINATION AND NOTICE</FONT></B></P>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2><a name="toc32"></a>6.1</font></p> </td>
        <td width="164" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><u><font size=2>Prospective Amendment</font></u></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>The Board may from time to time amend the Plan and the terms and conditions of any Option thereafter to be granted and, without limiting the generality of the foregoing, may make such amendment for the purpose of meeting any changes in any relevant law, rule or regulation applicable to the Plan, any Option or the Common Shares, or for any other purpose which may be permitted by all relevant laws, regulations, rules and policies provided always that any such amendment shall not alter the terms or conditions of any Option or impair any right of any Option Holder pursuant to any Option awarded prior to such amendment.  </font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2><a name="toc33"></a>6.2</font></p> </td>
        <td width="177" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><u><font size=2>Retrospective Amendment</font></u></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>The Board may from time to time retrospectively amend the Plan and, with the consent of the affected Option Holders, retrospectively amend the terms and conditions of any Options that have been previously granted.</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2><a name="toc34"></a>6.3</font></p> </td>
        <td width="151" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><u><font size=2>Amendment to Option</font></u></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>Notwithstanding anything else contained in the Plan and subject to any necessary approval from the Option Holder, the Company&#146;s shareholders or the Regulatory Authorities, the Board may in its discretion (a)  extend the Expiry Date of any Option, provided that in no case shall an Option be exercisable later than the tenth anniversary of the Award Date of the Option; (b)  alter or change the vesting terms </font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>&nbsp;</font></p>



<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>&nbsp;</font></p>
<br>
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<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>applicable to an Option, including accelerating the vesting schedule to make the Option exercisable immediately, in full; (c)  reduce the Exercise Price; or (d) amend any other term of an outstanding Option.  Disinterested shareholder approval must be obtained for any reduction in the Exercise Price if the Option Holder is an insider of the Company at the time of the proposed amendment.</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2><a name="toc35"></a>6.4</font></p> </td>
        <td width="80" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><u><font size=2>Approvals</font></u></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>The Plan and any amendments hereto are subject to all necessary approvals of the applicable Regulatory Authorities and shareholders.</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2><a name="toc36"></a>6.5</font></p> </td>
        <td width="92" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><u><font size=2>Termination</font></u></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>The Board may terminate the Plan at any time provided that such termination shall not alter the terms or conditions of any Option or impair any right of any Option Holder pursuant to any Option awarded prior to the date of such termination which shall continue to be governed by the provisions of the Plan.</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2><a name="toc37"></a>6.6</font></p> </td>
        <td width="85" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><u><font size=2>Agreement</font></u></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>The Company and every Option awarded hereunder shall be bound by and subject to the terms and conditions of the Plan.  By accepting an Option granted hereunder, the Option Holder has expressly agreed with the Company to be bound by the terms and conditions of the Plan.</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2><a name="toc38"></a>6.7</font></p> </td>
        <td width="59" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><u><font size=2>Notice</font></u></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>Any notice or other communication contemplated under the Plan to be given by the Company to an Option Holder shall be given by the Company delivering or faxing the notice to the Option Holder at the last address for the Option Holder in the Company&#146;s records.  Any such notice shall be deemed to have been given on the date on which it was delivered, or in the case of fax, the next business day after transmission.  An Option Holder may, at any time, advise the Company of a change in the Option Holder&#146;s address or fax number.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>&nbsp;</font></p>


<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>


<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;'><b><font size=2>SCHEDULE &#147;A&#148;</font></b></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;'><b><font size=2>ENTR&#201;E GOLD INC.</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><u><b><font SIZE=2>STOCK OPTION PLAN</font></b></u></p>

<p style=' margin-bottom:12pt; margin-top:12pt;text-align:center;'><u><b><font SIZE=2>OPTION CERTIFICATE</font></b></u></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>This Certificate is issued pursuant to the provisions of the Entr&#233;e Gold Inc. (the &#147;Company&#148;) Stock Option Plan (the &#147;Plan&#148;) and evidences that ________ is the holder (the &#147;Option Holder&#148;) of an option (the &#147;Option&#148;) to purchase up to _______ Common shares (the &#147;Common Shares&#148;) in the capital stock of</font><b><font size=2> </font></b><font size=2>the Company at a purchase price of Cdn$__ per Common Share. </font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>Subject to the provisions of the Plan:</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(a)</font></p> </td>
        <td width="247" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>the Award Date of the Option is __; and</font></p> </td>
        <td  width="12">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr >
        <td width="58" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(b)</font></p> </td>
        <td  colspan="2" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>the Fixed Expiry Date of the Option is __.</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>The vested portion or portions of the Option may be exercised at any time and from time to time from and including the Award Date through to 5:00 p.m. local time in Vancouver, British Columbia on the Expiry Date by delivering to the Administrator of the Plan an Exercise Notice, in the form provided in the Plan, together with this Certificate and a certified cheque or bank draft payable to the Company in an amount equal to the aggregate of the Exercise Price of the Common Shares in respect of which the Option is being exercised.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>This Certificate and the Option evidenced hereby is not assignable, transferable or negotiable and is subject to the detailed terms and conditions contained in the Plan, the terms and conditions of which the Option Holder hereby expressly agrees with the Company to be bound by.  This Certificate is issued for convenience only and in the case of any dispute with regard to any matter in respect hereof, the provisions of the Plan and the records of the Company shall prevail.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>The Option is also subject to the terms and conditions contained in the schedules, if any, attached hereto.  All terms not otherwise defined in this Certificate shall have the meanings given to them under the Plan.</font></p>

<p style=' margin-bottom:18pt; margin-top:12pt;text-align:left;'><font size=2>Dated this ___ day of ________.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><b><font size=2>Entr&#233;e Gold Inc.</font></b></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>Per:  </font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;border-top:solid black 1.0pt'><font size=2>Administrator, Stock Option Plan</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<p style=' margin-bottom:12pt; margin-top:12pt;text-align:center;'><u><b><font SIZE=2>OPTION CERTIFICATE - SCHEDULE</font></b></u></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>The additional terms and conditions attached to the Option represented by this Option Certificate are as follows:</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>1.</font></p> </td>
        <td  colspan="2" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>__; and</font></p> </td> </tr>
    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>2.</font></p> </td>
        <td width="24" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>__.</font></p> </td>
        <td  width="25">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><b><font size=2>Entr&#233;e Gold Inc.</font></b></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>Per:  </font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;border-top:solid black 1.0pt'><font size=2>Administrator, Stock Option Plan</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;'><b><font size=2>SCHEDULE &#147;B&#148;</font></b></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;'><b><font size=2>ENTR&#201;E GOLD INC.</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><u><b><font SIZE=2>STOCK OPTION PLAN</font></b></u></p>

<p style=' margin-bottom:12pt; margin-top:12pt;text-align:center;'><u><b><font SIZE=2>EXERCISE NOTICE</font></b></u></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font SIZE=2>TO:</font></p> </td>
        <td  colspan="5" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>The Administrator, Stock Option Plan</font></p> </td> </tr>
    <tr >
        <td  width="96">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td>
        <td  colspan="4" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>Entr&#233;e Gold Inc. (the &#147;Company&#148;)</font><b></b></p> </td>
        <td  width="21">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr >
        <td  width="96">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td>
        <td  colspan="3" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>1450 &#150; 650 Granville Street</font></p> </td>
        <td   colspan="2">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
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        <td  width="96">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td>
        <td width="107" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>PO Box 11527</font></p> </td>
        <td   colspan="4">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
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        <td  width="96">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td>
        <td  colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>Vancouver, BC  V6B 4N7</font></p> </td>
        <td   colspan="3">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr>
        <td width="96" ></td>

        <td width="107" ></td>

        <td width="69" ></td>

        <td width="7" ></td>

        <td width="39" ></td>

        <td width="21" ></td> </tr> </table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>The undersigned hereby irrevocably gives notice, pursuant to the Company&#146;s Stock Option Plan (the &#147;Plan&#148;), of the exercise of the Option to acquire and hereby subscribes for </font><b><font size=2>(cross out inapplicable item)</font></b><font size=2>:</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(a)</font></p> </td>
        <td width="195" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>all of the Common Shares; or</font></p> </td>
        <td  width="107">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>(b)</font></p> </td>
        <td  colspan="2" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>___________________ of the Common Shares;</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>which are the subject of the Option Certificate attached hereto.</font></p>

<p style=' margin-bottom:12pt; margin-top:12pt;text-align:justify;'><font size=2>The undersigned tenders herewith a certified cheque or bank draft </font><b><font size=2>(circle one)</font></b><font size=2> payable to the Company in an amount equal to the aggregate Exercise Price of the aforesaid Common Shares and directs the Company to issue the certificate evidencing said Common Shares in the name of the undersigned to be mailed to the undersigned at the following address:</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="277" style='margin-left:1.5in;border-collapse:collapse'>
    <tr >
        <td width="277" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>___________________________________</font></p> </td> </tr>
    <tr >
        <td width="277" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>___________________________________</font></p> </td> </tr>
    <tr >
        <td width="277" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>___________________________________</font></p> </td> </tr>
    <tr >
        <td width="277" valign=top style='padding:12.0pt 0in .25in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>___________________________________</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>By executing this Exercise Notice, the undersigned hereby confirms that the undersigned has read the Plan and agrees to be bound by the provisions of the Plan.  All terms not otherwise defined in this Exercise Notice shall have the meanings given to them under the Plan.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:18pt; margin-top:0pt;text-align:left;'><font size=2>DATED the ________ day of ____________________, __________.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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    <tr >
        <td width="195" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt; border-top:solid black 1.0pt'><font size=2>Signature of Option Holder</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>


<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>










<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><small>EXHIBIT</small> 5<small>.1</small></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><small>MACNEILL</small> <small>LAW</small></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font SIZE=2>PAUL C. MACNEILL</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>Direct No.  604.661.7535</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>Fax No.  604.639.0484</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>E-mail.  paul@pmaclaw.com</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>File No.&nbsp;&nbsp;6-001</font></p>

<p style=' margin-bottom:0pt; margin-top:24pt;text-align:left;'><font size=2>July 29, 2005</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>Entr&#233;e Gold Inc.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>1201 - 1166 Alberni Street</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>Vancouver, BC  V6E 3Z3</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>Dear Sirs:</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="419" style='border-collapse:collapse'>
    <tr >
        <td width="48" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>Re:</font></p> </td>
        <td width="371" valign=top style='padding:12.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><u><font size=2>Entr&#233;e Gold Inc. - Registration Statement on Form S-8</font></u></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>Reference is made to the above-captioned Registration Statement on Form S-8 (the &#147;Registration Statement&#148;) to be filed by Entr&#233;e Gold Inc. (the &#147;Registrant&#148;) with the Securities and Exchange Commission on or about July 29, 2005, for the purpose of registering under the Securities Act of 1933, as amended, up to 9,846,613 common shares of the Registrant (the &#147;Shares&#148;) under the Registrant&#146;s 2002 Stock Option Plan (the &#147;Plan&#148;).</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>For purposes of expressing the opinion set forth herein, we have examined originals or copies, satisfactory to us, of all such corporate records and of all such agreements, certificates and other documents as we have deemed relevant and necessary as a basis for the opinion hereinafter expressed.  In such examination, we have assumed the genuineness of all signatures, the authenticity of all documents submitted to us as originals and the conformity with the original documents of all documents submitted to us as copies.  As to any facts material to such opinion, we have, to the extent that relevant facts were not independently established by us, relied on certificates of public officials and certificates of officers or other representatives of the Registrant.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>We are solicitors qualified to practice law in the Province of British Columbia and express no opinion as to any laws or any matters governed by any laws other than the laws of the Province of British Columbia and the federal laws of Canada applicable therein.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>We have also assumed that (i) the Registration Statement will be and remain effective during the period when the Shares are offered and issued, (ii) the full consideration stated in the Plan or any Plan certificate will be paid for each share; (iii) appropriate certificates evidencing the Shares will be executed and delivered by the Company; and (iv) all applicable securities laws are complied with.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p STYLE=' MARGIN-BOTTOM:0PT; MARGIN-TOP:0PT;TEXT-ALIGN:CENTER;'><FONT SIZE=2>P.O. BOX 11142, SUITE 950 &#150; 1055 WEST GEORGIA STREET</FONT></P>

<p STYLE=' MARGIN-BOTTOM:0PT; MARGIN-TOP:0PT;TEXT-ALIGN:CENTER;'><FONT SIZE=2>VANCOUVER, B.C. CANADA  V6E 3P3</FONT></P>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>Telephone: (604) 639-1180   Facsimile: (604) 639-0484</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>
<br>
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<pAGE>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;'><small>MACNEILL</small> <small>LAW</small></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>Page 2</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>Based on the foregoing, we are of the opinion that the Shares have been duly authorized and, when issued and paid for in accordance with the terms of the Plan, will be validly issued as fully paid and non-assessable.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>We hereby consent to the use of our opinion as herein set forth as an exhibit to the Registration Statement.  In giving such consent, we do not hereby concede that we are in the category of persons whose consent is required under Section 7 of the Securities Act of 1933 or the rules and regulations promulgated thereunder, or that we are &#147;experts&#148; within the meaning of the Securities Act of 1933 or the rules and regulation promulgated thereunder.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>Yours truly,</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font SIZE=2>MACNEILL LAW</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>Per:</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><u><font size=2>/s/ Paul C. MacNeill</font></u></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>Paul C. MacNeill</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>PCM/jjk</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>


<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>



<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<br>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;border-left:solid 0.75pt;padding-left:7;border-right:solid 0.75pt;padding-right:7;border-top:solid 0.75pt;padding-top:7;'><font SIZE=2>EXHIBIT 23.2</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;border-bottom:solid 0.75pt;padding-bottom:7;border-left:solid 0.75pt;padding-left:7;border-right:solid 0.75pt;padding-right:7;padding-top:0;'><font SIZE=6>D</font><font SIZE=5>AVIDSON </font><font size=6>&amp;</font><font size=5> </font><font SIZE=6>C</font><font SIZE=5>OMPANY LLP</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="375" style='margin-left:233.25pt;border-collapse:collapse'>
    <tr >
        <td width="131" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Chartered Accountants  </font></p> </td>
        <td width="244" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>A Partnership of Incorporated Professionals</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font SIZE=2>CONSENT OF INDEPENDENT REGISTERED</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font SIZE=2>PUBLIC ACCOUNTING FIRM</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>We hereby consent to the incorporation by reference in this Registration Statement on Form S-8 of Entr&#233;e Gold Inc. (the &#147;Company&#148;), of our report dated March 24, 2005, which appears in the annual report on Form 10-KSB of Entr&#233;e Gold Inc. for the year ended December 31, 2004.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:right;'><b><font size=2>"DAVIDSON &amp; COMPANY LLP"</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="639" style='border-collapse:collapse'>
    <tr >
        <td width="495" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Vancouver, Canada</font></p> </td>
        <td width="144" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Chartered Accountants</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="92" style='border-collapse:collapse'>
    <tr >
        <td width="92" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>July 21, 2005</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:3pt; margin-top:12pt;text-align:center;'><i><font size=2>A Member of</font><font size=2> </font></i><b><font SIZE=2>SC</font></b><font size=2> INTERNATIONAL</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>1200 - 609 Granville Street, P.O. Box 10372, Pacific Centre, Vancouver, BC, Canada, V7Y 1G6</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>Telephone (604) 687-0947  Fax (604) 687-6172</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>





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[{"type": "S-8", "sequence": "1", "filename": "etg_s-8july2005.htm", "description": "FORM S-8 JULY 2005", "secsgml_size_bytes": 243215}]
{"company-data": {"conformed-name": "ENTREE GOLD INC", "cik": "0001271554", "assigned-sic": "1040", "irs-number": "000000000", "state-of-incorporation": "B0", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-127062", "film-number": "05986293"}, "business-address": {"street1": "PO BOX 11527, SUITE 1450", "street2": "650 WEST GEORGIA STREET", "city": "VANCOUVER", "state": "A1", "zip": "V6B 4N7", "phone": "604-687-4777"}, "mail-address": {"street1": "PO BOX 11527, SUITE 1450", "street2": "650 WEST GEORGIA STREET", "city": "VANCOUVER", "state": "A1", "zip": "V6B 4N7"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.  20549
FORM S-8
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
ENTRÉE GOLD INC.
(Exact name of registrant as specified in its charter)
British Columbia, Canada
(State or other jurisdiction of incorporation or organization)
Not Applicable
(I.R.S. Employer Identification No.)
1201 - 1166 Alberni Street, Vancouver, British Columbia, Canada  V6E 3Z3
(
Address of Principal Executive Offices)
Entrée Gold Inc. 2002 Stock Option Plan
(Full title of the plan)
Gregory G. Crowe
1201 - 1166 Alberni Street,
Vancouver, British Columbia, Canada  V6E 3Z3
(Name and address of agent for service)
604.687.4777
(Telephone number, including area code, of agent for service)
With a copy to
Susan E. McLeod, Esq.
MacNeill Law
950 - 1055 West Georgia Street
Vancouver, British Columbia  V6E 3P3
604.639-1180
CALCULATION OF REGISTRATION FEE
Title of  securities
to  be registered
(1)
Amount to
be  registered
(2)
Proposed maximum offering price per share
Proposed maximum aggregate offering price
Amount of registration fee
Common Shares subject to outstanding options
2,545,000
US$2.16
(3)
US$5,497,200
US$647.02
Common Shares subject to outstanding options
75,000
US$1.83
(3)
US$137,250
US$16.15
Common Shares subject to outstanding options
175,000
US$1.47
(3)
US$257,250
US$30.28
Common Shares subject to outstanding options
400,000
US$1.58
(3)
US$632,000
US$74.39
Common Shares subject to outstanding options
600,000
US$1.54
(3)
US$924,000
US$108.75
Common Shares subject to outstanding options
200,000
US$1.48
(3)
US$296,000
US$34.84
Title of  securities
to  be registered
(1)
Amount to
be  registered
(2)
Proposed maximum offering price per share
Proposed maximum aggregate offering price
Amount of registration fee
Common Shares subject to outstanding options
1,805,000
US$1.42
(3)
US$2,563,100
US$301.68
Common Shares subject to outstanding options
715,000
US$1.53
(3)
US$1,093,950
US$128.76
Common Shares subject to outstanding options
175,000
US$2.86
(3)
US$500,500
US$58.91
Common Shares subject to outstanding options
900,000
US$1.23
(3)
US$1,107,000
US$130.29
Common Shares subject to outstanding options
510,000
US$0.74
(3)
US$377,400
US$44.42
Common Shares subject to outstanding options
50,000
US$0.42
(3)
US$21,000
US$2.47
Common Shares subject to outstanding options
715,000
US$0.57
(3)
US$407,550
US$47.97
Common Shares not subject to outstanding options
981,613
US$1.58
(3) (4)
US$1,550,948.54
US$182.55
Total
9,846,613
US$1,808.48
(1)
This Registration Statement covers the common shares, without par value, issuable upon the exercise of options offered by the registrant pursuant to the plan described herein.
(2)
This Registration Statement also covers an indeterminate number of additional shares of common shares which may become issuable under the plan by reason of dividend, stock-split, re-capitalization or any other similar transaction effected without the receipt of consideration which results in an increase in the number of the registrant's outstanding shares of common shares.
(3)
U.S. dollar amounts are calculated based on the noon buying rate in New York City for cable transfers payable in Canadian dollars as certified for customs purposes by the Federal Reserve Bank of New York on July 27, 2005.  On such date the noon buying rate was CDN$1.00=US$1.2341.
(4)
The proposed maximum offering price per share and the registration fee were calculated in accordance with rule 457(c) and (h) based on the average high and low prices for the Registrant's common shares on July 27, 2005, as quoted on the American Stock Exchange, which was US$1.58 per share.
EXPLANATORY NOTE
We have prepared this registration statement in accordance with the requirements of Form S-8 under the
Securities Act of 1933
, as amended (the "Act"), to register options and common shares to be issued pursuant to the exercise of options or rights granted under the Entrée Gold Inc. 2002 Stock Option Plan, as amended (the "2002 Plan").  On October 9, 2002, the 2002 Plan took into account a two (old) for one (new) share consolidation.  On February 26, 2003 and February 11, 2004, the Registrant's shareholders approved amendments to the 2002 Plan.  On May 20, 2005, the Registrant's shareholders approved amendments to the 2002 Plan, including an increase in the number of common shares issuable under such plan.  Pursuant to Rule 429 of the Act, this Registration Statement also serves as a post-effective amendment to the prior
registration statement.
Part I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
Item 1.  Plan Information.
Information required by Part I to be contained in the Section 10(a) prospectus is omitted from the Registration Statement in accordance with Rule 428 under the Act and Note 1 to Part I of Form S-8.
Item 2.  Registrant Information and Employee Plan Annual Information.
Information required by Part I to be contained in the Section 10(a) prospectus is omitted from the Registration Statement in accordance with Rule 428 under the Act and Note 1 to Part I of Form S-8.
Part II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3.  Incorporation of Documents by Reference.
The documents listed in (a) through (d) below are incorporated by reference in this Registration Statement.
(a)
The Registrant's Annual Report on Form 10-KSB for the fiscal year ended December 31, 2004, filed with the Securities and Exchange Commission on April 6, 2005;
(b)
The Registrant's Quarterly Report on Form 10-QSB for the three month period ended March 31, 2005, filed with the Securities and Exchange Commission on May 16, 2005;
(c)
All other reports filed by the Registrant pursuant to Section 13(a) or 15(d) of the
Securities and Exchange Act of 1934
, as amended (the "Exchange Act"), subsequent to the end of the fiscal year covered by the Annual Report incorporated by reference herein pursuant to (a) above.
(d)
The description of the Registrant's securities contained in the Registrant's Registration Statement on Form 10-SB filed with the Securities and Exchange Commission on October 12, 2004, including any amendment or report filed for the purpose of updating such description.
All documents filed by the Registrant pursuant to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act, after the date hereof and prior to the filing of a post-effective amendment which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold shall be deemed to be incorporated by reference herein and to be a part hereof from the date of filing of such documents.
Item 4.  Description of Securities.
The securities to be offered are registered under Section 12(g) of the Exchange Act.
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Item 5.  Interests of Named Experts and Counsel.
No expert or counsel name in this prospectus as having prepared or certified any part of it or as having given an opinion upon the validity of the securities being registered or upon other legal matters in connection with the registration or offering of the common shares was employed on a contingency basis, or had, or is to receive, in connection with the offering, a substantial interest, direct or indirect, in the Company or any of its parents or subsidiaries.  Nor was any such person connected with the Company or any of its parents or subsidiaries as a promoter, managing or principal underwriter, voting trustee, director, officer or employee.
Item 6.  Indemnification of Directors and Officers.
The Company is continued into British Columbia under the laws of the Province of British Columbia, Canada, and is subject to the British Columbia
Business Corporations Act
(the "BCBCA").
The BCBCA and the Company's Articles permit indemnification of its directors and officer against certain liabilities, which would include liabilities arising under the Act and the Exchange Act.
Under the BCBCA, a company has broad latitude to indemnify its directors, both past and present, except where:
(a)
the memorandum or articles of the company prohibit indemnification;
(b)
the director did not act honestly and in good faith with a view to the best interests of the company;
(c)
the proceeding was not a civil proceeding and the director did not have reasonable grounds for believing that his conduct was lawful; or
(d)
the proceeding is brought against the director by the company itself or an associated corporation.
At the end of a proceeding where a director has been wholly successful, whether on the merits or not, or substantially successful on the merits, the company must reimburse the director for all expenses reasonably and actually incurred by the director in respect of that proceeding.
Despite any other provisions in the BCBCA dealing with indemnification, on application of either the company or a director, the court has a broad discretion to order full or partial indemnification, or make any other order that it considers appropriate.
The BCBCA allows a company to purchase and maintain directors' liability insurance
"Insurance
165           A company may purchase and maintain insurance for the benefit of an eligible party or the heirs and personal or other legal representatives of the eligible party against any liability that may be incurred by reason of the eligible party being or having been a director or officer of, or holding or having held a position equivalent to that of a director or officer of, the company or an associated corporation.".
Part 21 of the Company's Articles also contain provisions providing for the indemnification of directors and officers of the Company as follows:
"Part 21 - Indemnity and Protection of Directors, Officers and Employees
21.1          Subject to the provisions of the Business Corporations Act, the Directors shall cause the Company to indemnify a Director, officer or alternate Director or a former Director, officer or alternate Director of the Company or a person who, at the request of the Company, is or was a director, alternate director or officer of another
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corporation, at a time when the corporation is or was an affiliate of the Company or a person who, at the request of the Company, is or was, or holds or held a position equivalent to that of, a director, alternate director or officer of a partnership, trust, joint venture or other unincorporated entity (in each case, an "eligible party"), and the heirs and personal representatives of any such eligible party, against all judgments, penalties or fines awarded or imposed in, or an amount paid in settlement of, a legal proceeding or investigative action (whether current, threatened, pending or completed) in which such eligible party or any of the heirs and personal representatives of such eligible party, by reason of such eligible party being or having been a Director, alternate Director or officer or holding or having held a position equivalent to that of a Director, alternate Director or officer,
is or may be joined as a party or is or may be liable for or in respect of a judgment, penalty or fine in, or expenses related to the proceeding.  Provided the Company first receives a written undertaking from the eligible party to repay amounts advanced if so required under the Business Corporations Act, the Directors shall cause the Company to pay, as they are incurred in advance of the final disposition of the proceeding, the costs, charges and expenses, including legal and other fees actually and reasonably incurred by the eligible party in respect of the proceeding.  After the final disposition of the proceeding, the Directors shall cause the Company to pay the expenses actually and reasonably incurred by the eligible party in respect of the proceeding, to the extent the eligible party has not already been reimbursed for such expenses, subject to the provisions of the Business Corporations Act.  Each Director, alternate Director and officer of the Company on being elected or
appointed shall be deemed to have contracted with the Company on the terms of the foregoing indemnity.
21.2
Subject to the provisions of the Business Corporations Act, the Company may indemnify any person.
21.3          The failure of a Director, alternate Director or officer of the Company to comply with the provisions of the Business Corporations Act or these Articles shall not invalidate any indemnity to which he is entitled under this Part.
21.4          The Directors may cause the Company to purchase and maintain insurance for the benefit of any person (or his heirs or legal personal representatives) who is or was a Director, officer, alternate Director, employee or agent of the Company or a person who, at the request of the Company, is or was a director, alternate director, officer, employee or agent of another corporation, at a time when the corporation is or was an affiliate of the Company or a person who, at the request of the Company, is or was or holds or held a position equivalent to that of a director, alternate director, officer, employee or agent of a partnership, trust, joint venture or other unincorporated entity and the person's heirs or personal representatives against any liability incurred by the person as such Director, alternate Director, director, alternate director,
officer, employee, agent or person who holds or held such equivalent position.".
The Registrant does not maintain directors' and officers' Liability Insurance for its directors and officers.
Item 7.  Exemption from Registration Claimed.
Not Applicable.
Item 8.  Exhibits.
Exhibit Number
Exhibit
4.1
Entrée Gold Inc. 2002 Stock Option Plan, as amended
5.1
Opinion and Consent of MacNeill Law
23.1
Consent of MacNeill Law (included in Exhibit 5.1)
23.2
Consent of Davidson & Company LLP
24.1
Power of Attorney (included in signature page)
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Item 9.  Undertakings.
A.
The undersigned Registrant hereby undertakes:
(1)
to file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:
(i)
to include any prospectus required by section 10(a)(3) of the Securities Act of 1933;
(ii)
to reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement.  Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Securities and Exchange Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum aggregate offering price set forth in the
"Calculation of Registration Fee" table in the effective registration statement.
(iii)
to include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement.
(2)
that, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new Registration Statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof; and
(3)
to remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
B.
The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the Company's annual report pursuant to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934, as amended, (and, where applicable, each filing of an employee benefit plan's annual report pursuant to section 15(d) of the Securities Exchange Act of 1934, as amended) that is incorporated by reference in the Registration Statement shall be deemed to be a new Registration Statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
C.
Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the Company pursuant to the foregoing provisions, or otherwise, the Company has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable.  In the event that a claim for indemnification against such liabilities (other than the payment by the Company of expenses incurred or paid by a director, officer or controlling person of the Company in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Company will, unless in the opinion of its
counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.
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SIGNATURES
The Registrant
.  Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Vancouver, Province of British Columbia, Canada, on this 29th day of July, 2005.
ENTRÉE GOLD INC.
By:
/s/ Gregory G. Crowe
Name:
Gregory G. Crowe
Title:
President and CEO
(Principal Executive Officer)
By:
/s/ Hamish Malkin
Name:
Hamish Malkin
Title:
Chief Financial Officer
(Principal Financial Officer)
Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the date indicated.
Signature
Title
Date
/s/ Gregory G. Crowe
Gregory G. Crowe
President, CEO and Director
July 29th, 2005
/s/ Mark H. Bailey
Mark H. Bailey
Director
July 29th, 2005
/s/ Lindsay R. Bottomer
Lindsay R. Bottomer
Director
July 29th, 2005
/s/ James L. Harris
James L. Harris
Director
July 29th, 2005
/s/ Peter Meredith
Peter Meredith
Director
July 29th, 2005
/s/ Hamish Malkin
Hamish Malkin
CFO and Secretary
July 29th, 2005
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The Plan
Pursuant to the requirements of the Securities Act of 1933, the trustees (or other persons who administer the employee benefit plan) have duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Vancouver, Province of British Columbia, Canada on July 29, 2005.
Entrée Gold Inc. 2002 Stock Option Plan
By:
/s/ Gregory G. Crowe
Gregory G. Crowe
President, CEO and Director
By:
/s/ Hamish Malkin
Hamish Malkin
CFO and Secretary
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7 -
POWER OF ATTORNEY
Each person whose signature appears below constitutes and appoints Gregory G. Crowe and James L. Harris, his attorney-in-fact, with the power of substitution, for them in any and all capacities, to sign any amendments to this registration statement, and to file the same, with exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, hereby ratifying and confirming all that said attorneys-in-fact, or their substitute or substitutes, may do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed by the following persons in the capacities and on the date indicated.
Signature
Title
Date
/s/ Gregory G. Crowe
Gregory G. Crowe
President, Chief Executive Officer and Director (Principal Executive Officer)
July 29th, 2005
/s/ Mark H. Bailey
Mark H. Bailey
Director
July 29th, 2005
/s/ Lindsay R. Bottomer
Lindsay R. Bottomer
Director
July 29th, 2005
/s/ James L. Harris
James L. Harris
Director
July 29th, 2005
/s/ Peter Meredith
Peter Meredith
Director
July 29th, 2005
/s/ Hamish Malkin
Hamish Malkin
Chief Financial Officer
(Principal Financial Officer)
July 29th, 2005
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EXHIBIT 4.1
ENTRÉE GOLD INC.
STOCK OPTION PLAN
August 16, 2002
Approved by the Board
on August 15, 2002, the shareholders
on August 16, 2002 and the TSX
Venture on December 24, 2002.
Paragraph 3.2 adjusted on October 9, 2002 to take into account
share consolidation on a two (old) for one (new) basis.
Paragraph 3.9 amended on February 26, 2003
with effect from August 16, 2002.
Paragraph 3.2 further amended on February 11, 2004.
Plan amended on May 17, 2005 to increase ceiling and reflect
Tier 1 status.
EXHIBIT 4.1
TABLE OF CONTENTS
Page
ARTICLE 1 DEFINITIONS AND INTERPRETATION
2
1.1
Definitions
2
1.2
Choice of Law
6
1.3
Headings
6
ARTICLE 2 PURPOSE AND PARTICIPATION
6
2.1
Purpose
6
2.2
Participation
6
2.3
Notification of Award
6
2.4
Copy of Plan
6
2.5
Limitation
7
ARTICLE 3 TERMS AND CONDITIONS OF OPTIONS
7
3.1
Board to Issue Common Shares
7
3.2
Number of Common Shares
7
3.3
Term of Option
7
3.4
Termination
7
3.5
Exercise Price
9
3.6
Additional Terms
9
3.7
Assignment of Options
10
3.8
Adjustments
10
3.9
Vesting
10
3.10
Hold Period
11
ARTICLE 4 EXERCISE OF OPTION
11
4.1
Exercise of Option
11
4.2
Issue of Share Certificates
11
4.3
Condition of Issue
11
4.4
Taxes
11
ARTICLE 5 ADMINISTRATION
12
5.1
Administration
12
5.2
Interpretation
12
ARTICLE 6 AMENDMENT, TERMINATION AND NOTICE
12
6.1
Prospective Amendment
12
6.2
Retrospective Amendment
12
6.3
Amendment to Option
12
6.4
Approvals
13
6.5
Termination
13
6.6
Agreement
13
6.7
Notice
13
EXHIBIT 4.1
STOCK OPTION PLAN
ARTICLE 1
DEFINITIONS AND INTERPRETATION
1.1
Definitions
As used herein, unless there is something in the subject matter or context inconsistent therewith, the following terms shall have the meanings set forth below:
(a)
"Administrator" means, initially, the Secretary of the Company and thereafter shall mean such director or other senior officer or employee of the Company as may be designated as Admini­strator by the Board from time to time.
(b)
"Award Date" means the date on which the Board awards a particular Option.
(c)
"Board" means the board of directors of the Company, or any committee thereof to which the board of directors of the Company has delegated the power to administer and grant Options under the Plan.
(d)
"Cause" means:
(i)
in the case of an Employee (1) cause as such term is defined in the written employment agreement with the Employee or if there is no written employment agreement or cause is not defined therein, the usual meaning of just cause under the common law or the laws of the jurisdiction in which the employee is employed; or (2) the termination of employment as a result of an order made by any Regulatory Authority having jurisdiction to so order;
(ii)
in the case of a Consultant (1) the occurrence of any event which, under the written consulting contract with the Consultant or the common law or the laws of the jurisdiction in which the consultant provides services, gives the Company or any of its affiliates the right to immediately terminate the consulting contract; or (2) the termination of the consulting contract as a result of an order made by any Regulatory Authority having jurisdiction to so order;
(iii)
in the case of a Director, ceasing to be a Director as a result of (1) ceasing to meet the qualifications set out in the corporate legislation to which the Company is subject; (2) a resolution having been passed by the shareholders; or (3) an order made by any Regulatory Authority having jurisdiction to so order; or
(iv)
in the case of an Officer, ceasing to be an Officer as a result of an order made by any Regulatory Authority having jurisdiction to so order.
(e)
"Change of Control" means and shall be deemed to have occurred if one of the following events takes place:
(i)
the Company sells, leases or otherwise disposes of all or substantially all of its assets and undertaking to a Person or a combination of Persons at arm's length to the Company and its affiliates, whether pursuant to one or more transactions;
(ii)
the Company amalgamates or enters into a plan of arrangement with another company at arm's length to the Company and its affiliates, other than an amalgamation or plan of arrangement that would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving or resulting entity) more than 50% of the combined voting power of the surviving or resulting entity outstanding immediately after such amalgamation or plan of arrangement;
(iii)
any Person or combination of Persons at arm's length to the Company and its affiliates acquires or becomes the beneficial owner of, directly or indirectly, more than 50% of the voting securities of the Company, whether through the acquisition of previously issued and outstanding voting securities, or of voting securities that have not been previously issued, or any combination thereof, or any other transaction having a similar effect; or
(iv)
any resolution is passed or any action or proceeding is taken with respect to the liquidation, dissolution or winding-up of the Company.
(f)
"Common Share" or "Common Shares" means, as the case may be, one or more common shares without par value in the capital of the Company.
(g)
"Company" means Entrée Gold Inc. (formerly Entrée Resources Inc.).
(h)
"Consultant" has the meaning given to that term in Multilateral Instrument 45-105, and for the purposes of the Plan includes consultants of the Company and any of its affiliates.
(i)
"Director" has the meaning given to that term in the
Securities Act
(British Columbia), and for the purposes of the Plan includes directors of the Company and any of its affiliates.
(j)
"Discounted Market Price" of the Common Shares for a particular Award Date means the Market Price of the Common Shares for a particular Award Date less a discount to be determined by the Board, which in any event shall not exceed the amount set forth under Policy 1.1 of the TSX Venture Corporate Finance Manual, as amended or replaced from time to time.
(k)
"Eligible Persons" means Directors, Officers, Employees and Consultants.
(l)
"Employee" has the meaning given to that term in BC Policy 45-601, and for the purposes of the Plan includes employees of the Company and any of its affiliates.
(m)
"Exercise Notice" means the notice respecting the exercise of an Option, in the form set out as Schedule "B" hereto, duly executed by the Option Holder.
(n)
"Exercise Period" means the period during which a particular Option may be exercised and is the period from and including the Award Date through to and including the Expiry Date.
(o)
"Exercise Price" means the price at which an Option may be exercised as determined in accordance with paragraph 3.5.
(p)
"Expiry Date" means the date determined in accordance with paragraph 3.4 and after which a particular Option cannot be exercised.
(q)
"Fixed Expiry Date" has the meaning given to that term under paragraph 3.4.
(r)
"insider" has the meaning given to that term in the
Securities Act
(British Columbia).
(s)
"Market Price" of the Common Shares for a particular Award Date shall be determined as follows:
(i)
for each organized trading facility on which the Common Shares are listed, Market Price shall be the closing trading price of the Common Shares on the last trading day immediately preceding the Award Date;
(ii)
if the Common Shares are listed on more than one organized trading facility, then Market Price shall be the greater of the Market Prices deter­mined for each organized trading facility on which those Common Shares are listed as determined for each organized trading facility in accordance with section (i) above;
(iii)
if the Common Shares are listed on one or more organized trading facility but have not traded during the 10 trading day period immediately preceding the Award Date, then the Market Price shall be, subject to the necessary approvals of the applicable Regulatory Authorities, such value as is determined by resolution of the Board; and
(iv)
if the Common Shares are not listed on any organized trading facility, then the Market Price shall be, subject to the necessary approvals of the applicable Regulatory Authorities, the fair market value of the Common Shares on the Award Date as determined by the Board in its discretion.
(t)
"Officer" means a senior officer as such term is defined in the
Securities Act
(British Columbia), and for the purposes of the Plan includes senior officers of the Company and any of its affiliates.
(u)
"Option" means an option to acquire Common Shares, awarded to an Eligible Person pursuant to the Plan.
(v)
"Option Certificate" means the certificate, in the form set out as Schedule "A" hereto, evidencing an Option.
(w)
"Option Holder" means a person who holds an unexercised and unexpired Option or, where appli­cable, the Personal Representative of such person.
(x)
"Person" means any individual, partnership, limited partnership, joint venture, syndicate, sole proprietorship, company or corporation with or without share capital, unincorporated association, trust, trustee, executor, administrator or other legal personal representative, regulatory body or agency, government or governmental agency or entity however designated or constituted.
(y)
"Personal Representative" means:
(i)
in the case of a deceased Option Holder, the executor or administrator of the deceased duly appointed by a court or public authority having jurisdiction to do so; and
(ii)
in the case of an Option Holder who for any reason is unable to manage his or her affairs, the person entitled by law to act on behalf of such Option Holder.
(z)
"Plan" means this stock option plan dated August 16, 2002, as amended or restated from time to time.
(aa)
"Regulatory Authorities" means all stock exchanges, inter-dealer quotation networks and other organized trading facilities on which the Company's Shares are listed and all securities commis­sions or similar securities regulatory bodies having jurisdiction over the Company.
(bb)
"Securities Laws" means securities legislation, securities regulations and securities rules, as amended, and all published rules, orders, notices, instruments and policies in force from time to time that are applicable to the Company.
(cc)
"Share" or "Shares" means, as the case may be, one or more shares of any class in the share capital of the Company from time to time.
(dd)
"Termination Date" means:
(i)
in the case of the Option Holder's resignation from employment or the termination of the Option Holder's consulting contract by the Option Holder, the date that the Option Holder provides notice of such resignation or termination to the Company or any of its affiliates; or
(ii)
in the case of the termination of the Option Holder's employment or consulting contract by the Company or any of its affiliates for any reason (whether such termination is lawful or unlawful) other than death, the date that the Company or any of its affiliates delivers written notice of such lawful or unlawful termination of the Option Holder's employment or consulting contract to the Option Holder; or
(iii)
in the case of the expiry of a fixed-term employment agreement or consulting contract that is not renewed or extended, the last day of the term.
(ee)
"TSX Venture" means the TSX Venture Exchange.
1.2
Choice of Law
The Plan is established under, and the provisions of the Plan shall be subject to and interpreted and construed in accordance with, the laws of the Province of British Columbia.
1.3
Headings
The headings used herein are for convenience only and are not to affect the interpretation of the Plan.
ARTICLE 2
PURPOSE AND PARTICIPATION
2.1
Purpose
The purpose of the Plan is to provide the Company with a share-related mechanism to attract, retain and motivate qualified Directors, Officers, Consultants and Employees, to reward such of those Directors, Officers, Consultants and Employees as may be awarded Options under the Plan by the Board from time to time for their contributions toward the long term goals of the Company and to enable and encourage such Directors, Officers, Consultants and Employees to acquire Common Shares as long term investments.
2.2
Participation
The Board shall, from time to time and in its sole discretion, determine which of the Eligible Persons, if any, shall be awarded Options.  The Board shall only award an Option to a Consultant or an Employee if the Consultant or Employee is a bona fide Consultant or Employee of the Company or an affiliate of the Company, and the Board shall make such a representation if required by the Regulatory Authorities.    The Board may, in its sole discretion, award the majority of the Options to insiders of the Company.  However, in no case shall:
(a)
the Board award Options to purchase more than 2% of the issued shares of the Company to any one Consultant in a one-year period (calculated at the time of award); or
(b)
the Board award, in the aggregate, Options to purchase more than 2% of the issued shares of the Company to persons employed to provide investor relations activities in a one-year period (calculated at the time of award).
2.3
Notification of Award
Following the award of an Option by the Board, the Administrator shall notify the Option Holder in writing of the award and shall enclose with such notice the Option Certificate representing the Option so awarded.
2.4
Copy of Plan
Each Option Holder, concurrently with the notice of the award of the Option, shall be provided with a copy of the Plan.  A copy of any amendment to the Plan shall be promptly provided by the Administrator to each Option Holder.
2.5
Limitation
The Plan does not give any Option Holder that is a Director or Officer the right to serve or continue to serve as a Director or Officer of the Company or any of its affiliates nor does it give any Option Holder that is an Employee or Consultant the right to be or to continue to be employed with or have a consulting contract with the Company or any of its affiliates.
ARTICLE 3
TERMS AND CONDITIONS OF OPTIONS
3.1
Board to Issue Common Shares
The Common Shares to be issued to Option Holders upon the exercise of Options shall be authorized and unissued Common Shares the issuance of which shall have been authorized by the Board.
3.2
Number of Common Shares
Subject to adjustment as provided for in paragraph 3.8 of the Plan, the number of Common Shares which shall be available for Eligible Persons to acquire pursuant to Options granted under the Plan shall not exceed
10,176,613
Common Shares.  If any Option expires or otherwise terminates for any reason without having been exercised in full, the number of Common Shares in respect of which the Option was not exercised shall again be available for the purposes of the Plan.
3.3
Term of Option
Subject to such other terms or conditions that may be attached to an Option granted hereunder, an Option Holder may exercise any vested portion or portions of an Option in whole or in part at any time or from time to time during the Exercise Period.  Any Option or part thereof not exercised within the Exercise Period shall terminate and become null, void and of no effect as of 5:00 p.m. local time in Vancouver, British Columbia on the Expiry Date.
3.4
Termination
Subject to subparagraphs (a) to (e) below, the Expiry Date of an Option shall be the date fixed by the Board at the time the particular Option is awarded (the "Fixed Expiry Date"), provided that the Expiry Date shall be no later than the tenth anniversary of the Award Date of such Option:
(a)
Death
If the Option Holder dies while his or her Option is outstanding, then unless otherwise provided for in the Option Certificate, the following shall apply.  The Expiry Date for any vested portion or portions of the Option shall be the earlier of the Fixed Expiry Date and the date that is six months after the date of the Option Holder's death.  The Expiry Date for any unvested portion of the Option shall be the date of the Option Holder's death.  The right to purchase Common Shares under an Option shall not vest after the date of the Option Holder's death.
(b)
Ceasing to be a Director
If the Option Holder holds an Option as a Director and the Option Holder ceases to be a Director (other than by reason of death), then unless otherwise provided for in the Option Certificate, the following shall apply.  The Expiry Date for any vested portion or portions of the Option shall be the earlier of the Fixed Expiry Date and the 90th day following the date that the Option Holder ceases to be a Director unless the Option Holder ceases to be a Director for Cause, in which case the Expiry Date shall be the date that the Option Holder ceases to be a Director.  The Expiry Date for any unvested portion of the Option shall be the date that the Option Holder ceases to be a Director.  The right to purchase Common Shares under an Option shall not vest after the date that the Option Holder ceases to be a Director.
(c)
Ceasing to be an Employee or Consultant
If the Option Holder holds an Option as an Employee or Consultant and the Option Holder ceases to be an Employee or Consultant (other than by reason of death), then unless otherwise provided for in the Option Certificate, the following shall apply.  The Expiry Date for any vested portion or portions of the Option shall be the earlier of the Fixed Expiry Date and the 90th day following the Termination Date unless the Option Holder ceases to be an Employee or Consultant as a result of Cause, in which case the Expiry Date shall be the Termination Date.  The Expiry Date for any unvested portion of the Option shall be the Termination Date.  The right to purchase Common Shares under an Option shall not vest after the Termination Date.
(d)
Ceasing to be an Officer
If the Option Holder holds an Option as an Officer and the Option Holder ceases to be an Officer (other than by reason of death), then unless otherwise provided for in the Option Certificate, the following shall apply.  The Expiry Date for any vested portion or portions of the Option shall be the earlier of the Fixed Expiry Date and the 90th day following the date that the Option Holder ceases to be an Officer unless the Option Holder ceases to be an Officer for Cause, in which case the Expiry Date shall be the date that the Option Holder ceases to be an Officer.  The Expiry Date for any unvested portion of the Option shall be the date that the Option Holder ceases to be an Officer.  The right to purchase Common Shares under an Option shall not vest after the date that the Option Holder ceases to be an Officer.
(e)
Change of Control
In the event of a Change of Control or impending Change of Control, the Board may, in its sole discretion, deal with outstanding Options in the manner it deems fair and reasonable in light of the circumstances.  Without limiting the generality of the foregoing, the Board may, without any action or consent required on the part of any Option Holder:
(i)
deliver a notice to the Option Holder advising the Option Holder that the unvested portion of the Option held by the Option Holder, if any, shall immediately vest;
(ii)
deliver a notice to an Option Holder advising the Option Holder that the Expiry Date for any vested portion or portions of the Option shall be the earlier of the Fixed Expiry Date and the 5
th
day following the date of the notice and the Expiry Date for any unvested portion of the Option shall be the date of the notice; or
(iii)
take such other actions, and combinations of the foregoing actions, as it deems fair and reasonable under the circumstances.
The foregoing subparagraphs (b) through (d) shall only apply once an Option Holder ceases to fall into any of the categories of Eligible Persons.  The Board and the Administrator shall look to which of the definitions of Employee, Director, Officer or Consultant the Option Holder met immediately prior to the Option Holder ceasing to be an Eligible Person to determine which of subparagraphs (b) through (d) shall apply.  If the Option Holder met more than one definition, then the following shall apply.  If the Option Holder was a Director, then the Option Holder shall be deemed to hold his or her Option as a Director regardless of whether the Option Holder was also an Officer, Employee or Consultant.  If the Option Holder was an Officer but not a Director, then the Option Holder shall be deemed to hold his or her Option as an Officer regardless of whether the Option Holder was also an Employee or Consultant.
3.5
Exercise Price
The price at which an Option Holder may purchase a Common Share upon the exercise of an Option shall be as set forth in the Option Certificate issued in respect of such Option and in any event shall not be less than the Discounted Market Price of the Common Shares as of the Award Date.  Notwithstanding anything else contained herein, in no case shall the Exercise Price be less than the minimum prescribed by each of the organized trading facilities as would apply to the Award Date in question.
3.6
Additional Terms
Subject to all applicable Securities Laws and the rules and policies of all applicable Regulatory Authorities, the Board may attach other terms and conditions to the award of a particular Option, such terms and conditions to be referred to in a schedule attached to the Option Certificate.  These terms and conditions may include, but are not necessarily limited to, providing that an Option or a portion or portions of an Option expire on a certain date, after certain periods of time or upon the occurrence of certain events other than as provided for herein, provided that no Option shall expire more than ten years after the Award Date.
3.7
Assignment of Options
Options may not be assigned or transferred, provided however that the Personal Representative of an Option Holder may, to the extent permitted by paragraph 4.1, exercise the Option within the Exercise Period.
3.8
Adjustments
If:
(a)
the Common Shares are changed into or exchanged for a different number or kind of Shares of the Company or securities of another corporation, whether through an arrangement, amalgamation or other similar procedure or otherwise, or a share recapitalization, subdivision or consolidation;
(b)
a dividend is declared upon the Common Shares, payable in Common Shares (other than in lieu of dividends paid in the ordinary course);
(c)
the Company distributes by way of a dividend, or otherwise, to all or substantially all holders of Common Shares, property, evidences of indebtedness or Shares or other securities of the Company (other than Common Shares) or rights, options or warrants to acquire Common Shares or securities convertible into or exchangeable for Common Shares or other securities or property of the Company, other than as a dividend in the ordinary course; or
(d)
there is any other change that the Board, in its sole discretion, determines equitably requires an adjustment to be made,
then, subject to any required action by the shareholders of the Company and any necessary Regulatory Approval, any term that the Board determines requires adjustment (including the number of Common Shares subject to each outstanding Option and the number of Common Shares that have been authorized for issuance under the Plan but as to which no Options have yet been granted or that have again become available for the purposes of the Plan, the Exercise Price of each outstanding Option, as well as any other terms that the Board determines require adjustment) shall be adjusted by the Board in the manner the Board deems appropriate and its determination shall be final, binding and conclusive.  Except as the Board determines, no issuance by the Company of Shares of any class, or securities convertible into Shares of any class, shall affect, and no adjustment by reason thereof shall be made with respect to, the
number or Exercise Price of Common Shares subject to an Option.  No fractional shares shall be issued upon the exercise of an Option and accordingly, if as a result of the adjustment, an Option Holder would become entitled to a fractional Common Share, such Option Holder shall have the right to purchase only the next lowest whole number of Common Shares and no payment or other adjustment shall be made with respect to the fractional interest so disregarded.
3.9
Vesting
An Option awarded to a Consultant performing investor relations activities shall vest in stages over 12 months, such that the right to purchase 25% of the Common Shares subject to the Option shall vest in each three-month period.
3.10
Hold Period
In the event the Board awards an Option with an Exercise Price that is based on the Discounted Market Price, Common Shares issued upon the exercise of the Option shall be subject to a four-month TSX Venture hold period from the Award Date of the Option.  The Option Certificate and the share certificate, if applicable, shall bear the following legend:
"Without prior written approval of the TSX Venture Exchange and compliance with all applicable securities legislation, the securities represented by this certificate may not be sold, transferred, hypothecated or otherwise traded on or through the facilities of the TSX Venture Exchange or otherwise in Canada or to or for the benefit of a Canadian resident until
[date]
."
ARTICLE 4
EXERCISE OF OPTION
4.1
Exercise of Option
An Option may be exercised only by the Option Holder or the Personal Representative of the Option Holder.  An Option Holder or the Personal Representative of the Option Holder may exercise the vested portion or portions of an Option in whole or in part at any time or from time to time during the Exercise Period up to 5:00 p.m. local time in Vancouver, British Columbia on the Expiry Date by delivering to the Administrator an Exercise Notice, the applicable Option Certificate and a certified cheque or bank draft payable to the Company in an amount equal to the aggregate Exercise Price of the Common Shares to be purchased pursuant to the exercise of the Option.
4.2
Issue of Share Certificates
As soon as practicable following the receipt of the Exercise Notice, the Administrator shall cause to be delivered to the Option Holder a certificate for the Common Shares purchased by the Option Holder.  If the number of Common Shares in respect of which the Option was exercised is less than the number of Common Shares subject to the Option Certificate surrendered, the Administrator shall forward a new Option Certificate to the Option Holder concurrently with delivery of the share certificate for the balance of the Common Shares available under the Option.
4.3
Condition of Issue
The Options and the issue of Common Shares by the Company pursuant to the exercise of Options are subject to the terms and conditions of the Plan and compliance with the rules and policies of all applicable Regulatory Authorities with respect to the granting of such Options and the issuance and distribution of such Common Shares, and to all applicable Securities Laws.  The Option Holder agrees to comply with all such laws, regulations, rules and policies and agrees to furnish to the Company any information, reports or undertakings required to comply with, and to fully cooperate with, the Company in complying with such laws, regulations, rules and policies.
4.4
Taxes
The Board and the Company may take all such measures as they deem appropriate to ensure that the Company's obligations under the withholding provisions under income tax laws applicable to the Company and other provisions of applicable laws are satisfied with respect to the issuance of Common
Shares pursuant to the Plan or the grant or exercise of Options under the Plan.  Issuance of Common Shares or delivery of share certificates for Common Shares purchased pursuant to the Plan may be delayed, at the discretion of the Board, until the Board is satisfied that the applicable requirements of income tax laws and other applicable laws have been met.
ARTICLE 5
ADMINISTRATION
5.1
Administration
The Plan shall be administered by the Board.  The Board may make, amend and repeal at any time and from time to time such regulations not inconsistent with the Plan as it may deem necessary or advisable for the proper administration and operation of the Plan and such regulations shall form part of the Plan.  The Board may delegate to the Administrator or any director, officer or employee of the Company such administrative duties and powers as it may see fit.
5.2
Interpretation
The interpretation by the Board of any of the provisions of the Plan and any determination by it pursuant thereto shall be final and conclusive and shall not be subject to any dispute by any Option Holder.  No member of the Board or any person acting pursuant to authority delegated by it hereunder shall be liable for any action or determination in connection with the Plan made or taken in good faith and each member of the Board and each such person shall be entitled to indemnification with respect to any such action or determination in the manner provided for by the Company.
ARTICLE 6
AMENDMENT, TERMINATION AND NOTICE
6.1
Prospective Amendment
The Board may from time to time amend the Plan and the terms and conditions of any Option thereafter to be granted and, without limiting the generality of the foregoing, may make such amendment for the purpose of meeting any changes in any relevant law, rule or regulation applicable to the Plan, any Option or the Common Shares, or for any other purpose which may be permitted by all relevant laws, regulations, rules and policies provided always that any such amendment shall not alter the terms or conditions of any Option or impair any right of any Option Holder pursuant to any Option awarded prior to such amendment.
6.2
Retrospective Amendment
The Board may from time to time retrospectively amend the Plan and, with the consent of the affected Option Holders, retrospectively amend the terms and conditions of any Options that have been previously granted.
6.3
Amendment to Option
Notwithstanding anything else contained in the Plan and subject to any necessary approval from the Option Holder, the Company's shareholders or the Regulatory Authorities, the Board may in its discretion (a)  extend the Expiry Date of any Option, provided that in no case shall an Option be exercisable later than the tenth anniversary of the Award Date of the Option; (b)  alter or change the vesting terms
applicable to an Option, including accelerating the vesting schedule to make the Option exercisable immediately, in full; (c)  reduce the Exercise Price; or (d) amend any other term of an outstanding Option.  Disinterested shareholder approval must be obtained for any reduction in the Exercise Price if the Option Holder is an insider of the Company at the time of the proposed amendment.
6.4
Approvals
The Plan and any amendments hereto are subject to all necessary approvals of the applicable Regulatory Authorities and shareholders.
6.5
Termination
The Board may terminate the Plan at any time provided that such termination shall not alter the terms or conditions of any Option or impair any right of any Option Holder pursuant to any Option awarded prior to the date of such termination which shall continue to be governed by the provisions of the Plan.
6.6
Agreement
The Company and every Option awarded hereunder shall be bound by and subject to the terms and conditions of the Plan.  By accepting an Option granted hereunder, the Option Holder has expressly agreed with the Company to be bound by the terms and conditions of the Plan.
6.7
Notice
Any notice or other communication contemplated under the Plan to be given by the Company to an Option Holder shall be given by the Company delivering or faxing the notice to the Option Holder at the last address for the Option Holder in the Company's records.  Any such notice shall be deemed to have been given on the date on which it was delivered, or in the case of fax, the next business day after transmission.  An Option Holder may, at any time, advise the Company of a change in the Option Holder's address or fax number.
SCHEDULE "A"
ENTRÉE GOLD INC.
STOCK OPTION PLAN
OPTION CERTIFICATE
This Certificate is issued pursuant to the provisions of the Entrée Gold Inc. (the "Company") Stock Option Plan (the "Plan") and evidences that ________ is the holder (the "Option Holder") of an option (the "Option") to purchase up to _______ Common shares (the "Common Shares") in the capital stock of
the Company at a purchase price of Cdn$__ per Common Share.
Subject to the provisions of the Plan:
(a)
the Award Date of the Option is __; and
(b)
the Fixed Expiry Date of the Option is __.
The vested portion or portions of the Option may be exercised at any time and from time to time from and including the Award Date through to 5:00 p.m. local time in Vancouver, British Columbia on the Expiry Date by delivering to the Administrator of the Plan an Exercise Notice, in the form provided in the Plan, together with this Certificate and a certified cheque or bank draft payable to the Company in an amount equal to the aggregate of the Exercise Price of the Common Shares in respect of which the Option is being exercised.
This Certificate and the Option evidenced hereby is not assignable, transferable or negotiable and is subject to the detailed terms and conditions contained in the Plan, the terms and conditions of which the Option Holder hereby expressly agrees with the Company to be bound by.  This Certificate is issued for convenience only and in the case of any dispute with regard to any matter in respect hereof, the provisions of the Plan and the records of the Company shall prevail.
The Option is also subject to the terms and conditions contained in the schedules, if any, attached hereto.  All terms not otherwise defined in this Certificate shall have the meanings given to them under the Plan.
Dated this ___ day of ________.
Entrée Gold Inc.
Per:
Administrator, Stock Option Plan
OPTION CERTIFICATE - SCHEDULE
The additional terms and conditions attached to the Option represented by this Option Certificate are as follows:
1.
__; and
2.
__.
Entrée Gold Inc.
Per:
Administrator, Stock Option Plan
SCHEDULE "B"
ENTRÉE GOLD INC.
STOCK OPTION PLAN
EXERCISE NOTICE
TO:
The Administrator, Stock Option Plan
Entrée Gold Inc. (the "Company")
1450 – 650 Granville Street
PO Box 11527
Vancouver, BC  V6B 4N7
The undersigned hereby irrevocably gives notice, pursuant to the Company's Stock Option Plan (the "Plan"), of the exercise of the Option to acquire and hereby subscribes for
(cross out inapplicable item)
:
(a)
all of the Common Shares; or
(b)
___________________ of the Common Shares;
which are the subject of the Option Certificate attached hereto.
The undersigned tenders herewith a certified cheque or bank draft
(circle one)
payable to the Company in an amount equal to the aggregate Exercise Price of the aforesaid Common Shares and directs the Company to issue the certificate evidencing said Common Shares in the name of the undersigned to be mailed to the undersigned at the following address:
___________________________________
___________________________________
___________________________________
___________________________________
By executing this Exercise Notice, the undersigned hereby confirms that the undersigned has read the Plan and agrees to be bound by the provisions of the Plan.  All terms not otherwise defined in this Exercise Notice shall have the meanings given to them under the Plan.
DATED the ________ day of ____________________, __________.
Signature of Option Holder
EXHIBIT
5
.1
MACNEILL
LAW
PAUL C. MACNEILL
Direct No.  604.661.7535
Fax No.  604.639.0484
E-mail.  paul@pmaclaw.com
File No.  6-001
July 29, 2005
Entrée Gold Inc.
1201 - 1166 Alberni Street
Vancouver, BC  V6E 3Z3
Dear Sirs:
Re:
Entrée Gold Inc. - Registration Statement on Form S-8
Reference is made to the above-captioned Registration Statement on Form S-8 (the "Registration Statement") to be filed by Entrée Gold Inc. (the "Registrant") with the Securities and Exchange Commission on or about July 29, 2005, for the purpose of registering under the Securities Act of 1933, as amended, up to 9,846,613 common shares of the Registrant (the "Shares") under the Registrant's 2002 Stock Option Plan (the "Plan").
For purposes of expressing the opinion set forth herein, we have examined originals or copies, satisfactory to us, of all such corporate records and of all such agreements, certificates and other documents as we have deemed relevant and necessary as a basis for the opinion hereinafter expressed.  In such examination, we have assumed the genuineness of all signatures, the authenticity of all documents submitted to us as originals and the conformity with the original documents of all documents submitted to us as copies.  As to any facts material to such opinion, we have, to the extent that relevant facts were not independently established by us, relied on certificates of public officials and certificates of officers or other representatives of the Registrant.
We are solicitors qualified to practice law in the Province of British Columbia and express no opinion as to any laws or any matters governed by any laws other than the laws of the Province of British Columbia and the federal laws of Canada applicable therein.
We have also assumed that (i) the Registration Statement will be and remain effective during the period when the Shares are offered and issued, (ii) the full consideration stated in the Plan or any Plan certificate will be paid for each share; (iii) appropriate certificates evidencing the Shares will be executed and delivered by the Company; and (iv) all applicable securities laws are complied with.
P.O. BOX 11142, SUITE 950 – 1055 WEST GEORGIA STREET
VANCOUVER, B.C. CANADA  V6E 3P3
Telephone: (604) 639-1180   Facsimile: (604) 639-0484
MACNEILL
LAW
Page 2
Based on the foregoing, we are of the opinion that the Shares have been duly authorized and, when issued and paid for in accordance with the terms of the Plan, will be validly issued as fully paid and non-assessable.
We hereby consent to the use of our opinion as herein set forth as an exhibit to the Registration Statement.  In giving such consent, we do not hereby concede that we are in the category of persons whose consent is required under Section 7 of the Securities Act of 1933 or the rules and regulations promulgated thereunder, or that we are "experts" within the meaning of the Securities Act of 1933 or the rules and regulation promulgated thereunder.
Yours truly,
MACNEILL LAW
Per:
/s/ Paul C. MacNeill
Paul C. MacNeill
PCM/jjk
EXHIBIT 23.2
D
AVIDSON
&
C
OMPANY LLP
Chartered Accountants
A Partnership of Incorporated Professionals
CONSENT OF INDEPENDENT REGISTERED
PUBLIC ACCOUNTING FIRM
We hereby consent to the incorporation by reference in this Registration Statement on Form S-8 of Entrée Gold Inc. (the "Company"), of our report dated March 24, 2005, which appears in the annual report on Form 10-KSB of Entrée Gold Inc. for the year ended December 31, 2004.
"DAVIDSON & COMPANY LLP"
Vancouver, Canada
Chartered Accountants
July 21, 2005
A Member of
SC
INTERNATIONAL
1200 - 609 Granville Street, P.O. Box 10372, Pacific Centre, Vancouver, BC, Canada, V7Y 1G6
Telephone (604) 687-0947  Fax (604) 687-6172