<SEC-DOCUMENT>0001062993-15-002189.txt : 20150427
<SEC-HEADER>0001062993-15-002189.hdr.sgml : 20150427
<ACCEPTANCE-DATETIME>20150427171535
ACCESSION NUMBER:		0001062993-15-002189
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		7
CONFORMED PERIOD OF REPORT:	20150422
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20150427
DATE AS OF CHANGE:		20150427

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NovaCopper Inc.
		CENTRAL INDEX KEY:			0001543418
		STANDARD INDUSTRIAL CLASSIFICATION:	GOLD & SILVER ORES [1040]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35447
		FILM NUMBER:		15795943

	BUSINESS ADDRESS:	
		STREET 1:		SUITE 1950 - 777 DUNSMUIR STREET
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V7Y 1K4
		BUSINESS PHONE:		(604) 669-6227

	MAIL ADDRESS:	
		STREET 1:		SUITE 1950 - 777 DUNSMUIR STREET
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V7Y 1K4
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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   <TITLE>NovaCopper Inc.: Form 8-K - Filed by newsfilecorp.com</TITLE>
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<P align=center><B><FONT size=5>UNITED STATES</FONT></B><B> <BR></B><B><FONT
size=5>SECURITIES AND EXCHANGE COMMISSION </FONT><BR></B><B>Washington, D.C.
20549 <BR></B></P>
<P align=center><B><FONT size=5>FORM 8-K </FONT></B></P>
<P align=center><B>CURRENT REPORT </B></P>
<P align=center><B>Pursuant to Section 13 or 15(d) of the Securities Exchange
Act of 1934 </B></P>
<P align=center><B>Date of Report (Date of earliest event reported): <U>April
22, 2015 <BR></U></B></P>
<P align=center><B><FONT size=5><U>NovaCopper Inc. <BR></U></FONT></B>(Exact
name of registrant as specified in its charter) <BR></P>
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  <TR vAlign=top>
    <TD align=center><B><U>British Columbia </U></B></TD>
    <TD align=center width="33%"><B><U>001-35447</U></B></TD>
    <TD align=center width="33%"><B><U>98-1006991</U></B></TD></TR>
  <TR vAlign=top>
    <TD align=center>(State or other jurisdiction of incorporation) </TD>
    <TD align=center width="33%">(Commission File Number) </TD>
    <TD align=center width="33%">&nbsp;(I.R.S. Employer Identification Number)
    </TD></TR></TABLE>
<P align=center><B>Suite 1950, 777 Dunsmuir Street <BR>Vancouver, British
Columbia <BR><U>Canada, V7Y 1K4 </U><BR></B>(Address of principal executive
offices, including zip code) </P>
<P align=center><B><U>(604) 638-8088 </U><BR></B>(Registrant&#146;s telephone number,
including area code) </P>
<P align=center><B><U>N/A </U><BR></B>(Former name or former address, if changed
since last report) </P>
<P align=justify style="text-indent:5%">Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions (see General Instruction A.2 below): </P>
<P align=justify>[&nbsp;&nbsp; ] Written communications pursuant to Rule 425
under the Securities Act (17 CFR 230.425) </P>
<P align=justify>[X] Soliciting material pursuant to Rule 14a-12
under the Exchange Act (17 CFR 240.14a -12) </P>
<P align=justify>[&nbsp; &nbsp;] Pre-commencement communications pursuant to
Rule 14d-2(b) under the Exchange Act (17 CFR 240.24d -2(b)) </P>
<P align=justify>[&nbsp; &nbsp;] Pre-commencement communications pursuant to
Rule 13e-4(c) under the Exchange Act (17 CFR 240.23e -4(c)) </P>
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  <TR vAlign=top>
    <TD align=left  ><STRONG>Item 1.01 </STRONG></TD>
    <TD align=left width="90%"><B>Entry into a Material Definitive
      Agreement</B> </TD></TR></TABLE>
<P align=justify>As previously announced, NovaCopper Inc. (&#147;NovaCopper&#148;) entered
into an Arrangement Agreement (the &#147;Arrangement Agreement&#148;) on April 22, 2015
with Sunward Resources Ltd., a corporation existing under the laws of British
Columbia (&#147;Sunward&#148;), pursuant to which NovaCopper will acquire all of the
issued and outstanding common shares of Sunward (the &#147;Arrangement&#148;). The
Arrangement will be implemented by way of the Plan of Arrangement attached as
Schedule A to the Arrangement Agreement and is subject to approval by the
Supreme Court of British Columbia. </P>
<P align=justify>The Arrangement Agreement has been unanimously approved by the
board of directors of each of Sunward and NovaCopper, two common directors
having declared their interest and abstained from voting. Dr. Thomas Kaplan, a
director of NovaCopper, also declared his interest and abstained from voting due
to his relationship with Electrum Strategic Resources L.P., which owns
approximately 27.8% of NovaCopper&#146;s issued and outstanding common shares, and
whose affiliated fund owns approximately 18.2% of Sunward&#146;s issued and
outstanding common shares. </P>
<P align=justify>Upon completion of the Arrangement, the combined company is
expected to be owned approximately 58% by NovaCopper shareholders and 42% by
Sunward shareholders. </P>
<P align=justify><I>Structure. </I>Pursuant to, and subject to the terms and
conditions of, the Arrangement Agreement and the Plan of Arrangement, Sunward
shareholders will receive 0.3 (the &#147;Exchange Ratio&#148;) of one common share of
NovaCopper for each common share of Sunward held. The Exchange Ratio represents
the equivalent of US$0.1841 per Sunward Share based on the closing price of the
common shares of NovaCopper on the NYSE MKT LLC (&#147;NYSE-MKT&#148;) as of April 22,
2015 and represents the equivalent of US$0.1865 per common share of Sunward
based on the 20-day volume weighted average price (&#147;VWAP20&#148;) of the common
shares of NovaCopper on the NYSE-MKT as of the same date. The Exchange Ratio
implies a total transaction value of approximately US$27.6 million on a VWAP20
basis, including the automatic vesting and exchange into common shares of
NovaCopper of Sunward&#146;s outstanding deferred share units, and the exercise of
in-the-money stock options for common shares of NovaCopper. </P>
<P align=justify>Each outstanding option to acquire common shares of Sunward (a
&#147;Sunward Option&#148;) will be exchanged for an option to acquire common shares of
NovaCopper (an &#147;Arrangement Option&#148;), on the same terms and conditions, such
number of common shares of NovaCopper (rounded down to the nearest whole share)
equal to (i) 0.3 multiplied by (ii) the number of common shares of Sunward
subject to such Sunward Option immediately prior to the effective date of the
Arrangement. Such Arrangement Option will provide for an exercise price per
common share of NovaCopper (rounded up to the nearest whole cent) equal to (x)
the exercise price per common share of Sunward otherwise purchasable pursuant to
such Sunward Option divided by (y) 0.3. All such Arrangement Options will expire
90 days following the effective date of the Arrangement. </P>
<P align=justify>Each outstanding deferred share unit of Sunward that has not
vested will fully-vest automatically and be exchanged for the number of common
shares of NovaCopper (rounded down to the nearest whole share) equal to (i) 0.3
multiplied by (ii) the number of common shares of Sunward subject to such
deferred share unit at the time of vesting. </P>
<P align=justify><I>Board of Directors and Management. </I>Following completion
of the Arrangement, the board of directors of the combined company will consist
of nine members, two of which will be nominees of Gold First Investments
Limited, Sunward&#146;s largest shareholder, and the remaining members will be
incumbent directors of NovaCopper&#146;s board. </P>
<P align=justify>NovaCopper management will remain in their current capacity
following the Arrangement, with Rick Van Nieuwenhuyse serving as President &amp;
Chief Executive Officer and Elaine Sanders serving as Vice President &amp; Chief
Financial Officer. NovaCopper anticipates retaining the local management team of
Sunward in Colombia. </P>
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<P align=justify><I>Conditions to Completion of Arrangement</I>. Completion of
the Arrangement is subject to various conditions, including, without
limitation:</P>
<ul>
  <li>the approval of at least 66 2/3% of the votes cast by holders of common shares of Sunward and, if required under applicable securities laws, a majority of disinterested Sunward shareholders, of the Arrangement at a special meeting of the Sunward
shareholders;</li>
<LI>
the approval of a majority of the votes cast by the holders common shares of NovaCopper at a special meeting of the shareholders of NovaCopper of the issuance of common shares of NovaCopper to the holders of common shares of Sunward as consideration
for the Arrangement, the issuance of common shares in exchange for outstanding deferred share units of Sunward and the reservation for issuance of the common shares of NovaCopper issuable upon the exercise of Arrangement Options;</LI>
<LI>
obtaining the necessary interim and final orders of the Supreme Court of British Columbia;</LI>
<LI>
the Toronto Stock Exchange having conditionally approved and the NYSE-MKT having approved the listing thereon of the common shares of NovaCopper to be issued pursuant to the Arrangement and any common shares of NovaCopper to be issued upon exercise
of Arrangement Options, subject only to the customary listing conditions of the TSX and notice of issuance to the NYSE-MKT, respectively;</LI>
<LI>
holders of not more than five percent of the outstanding common shares of Sunward exercising rights of dissent in respect of the Arrangement;</LI>
<LI>
the accuracy of each party&rsquo;s representations and warranties (subject to certain materiality qualifiers); and</LI>
<LI>
the absence of a material adverse effect in respect of each party.</LI>
</ul>
<P align="justify">
<I>Non-Solicitation</I>. The Arrangement Agreement includes customary representations, warranties and covenants by the parties, including, among other things, covenants of both NovaCopper and Sunward not to solicit competing or alternative
transactions, subject to certain exceptions to permit either party's board of directors to comply with its fiduciary duties, including the right of either party to enter into a &ldquo;Superior Proposal&rdquo; (as defined for each of Sunward and
NovaCopper in the Arrangement Agreement). </P>
<P align="justify">
<I>Termination of Arrangement Agreement. </I>The Arrangement Agreement contains certain termination rights for both the NovaCopper and Sunward. </P>
<P align="justify">
NovaCopper has agreed to pay a termination fee of &#36;1,000,000 in certain circumstances, including if the Arrangement Agreement is terminated because (i) the board of directors of NovaCopper authorizes NovaCopper, subject to complying with the
terms of the Arrangement Agreement, to enter into a binding agreement with respect to a Superior Proposal; or (ii) an &ldquo;Acquisition Proposal&rdquo; (as defined in the Arrangement Agreement) was made to NovaCopper or announced prior to the
NovaCopper shareholders meeting, NovaCopper shareholders do not approve the Arrangement and NovaCopper enters into a transaction for the sale of 50% or more of NovaCopper within 12 months of the termination of the Arrangement Agreement.</P>
<P align="justify">
Sunward has agreed to pay a termination fee of &#36;1,000,000 in certain circumstances, including if the Arrangement Agreement is terminated because (i) the board of directors of Sunward authorizes Sunward, subject to complying with the terms of the
Arrangement Agreement, to enter into a binding written agreement relating to a Superior Proposal; or (ii) an Acquisition Proposal was made to Sunward or announced prior to the Sunward shareholders meeting, Sunward shareholders do not approve the
Arrangement and Sunward enters into a transaction for the sale of 50% or more of Sunward within 12 months of the termination of the Arrangement Agreement. </P>
<P align="justify">
<I>U.S. Securities Matters. </I>The common shares of Sunward issuable under the Arrangement to shareholders of Sunward and the holders of Sunward DSUs, and the Arrangement Options issuable to holders of Sunward Options under the Arrangement, have
not been and will not be registered under the U.S. Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;), or any state securities laws, and such securities will be issued in reliance upon the exemption from the registration
requirements of the Securities Act provided by section 3(a)(10) thereof and applicable state securities law. </P>
<P align="justify">
The foregoing descriptions of the Arrangement, the Arrangement Agreement and the Plan of Arrangement are qualified in their entirety by reference to the copy of the Arrangement Agreement, including the Plan of Arrangement attached as Schedule A
thereto, which is attached as Exhibit 2.1 hereto and is incorporated herein by reference. </P>

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<P align=justify>The directors and officers of Sunward and four of Sunward&#146;s
largest shareholders have entered into customary voting support agreements to
vote in favour of the Arrangement. The directors and officers and large
shareholders of NovaCopper have advised that they intend to vote their
NovaCopper Shares in favour of the transaction. </P>
<P align=justify>The foregoing description of the voting support agreements is
qualified in its entirety by reference to the voting support agreements entered
into with four of Sunward&#146;s largest shareholders which are attached as Exhibit
10.1, Exhibit 10.2, Exhibit 10.3, Exhibit 10.4 and Exhibit 10.5 hereto and are
incorporated herein by reference. </P>
<P align=justify>The Arrangement Agreement has been included solely to provide
investors and securityholders with information regarding its terms. It is not
intended to be a source of financial, business or operational information about
NovaCopper, Sunward or their respective subsidiaries or affiliates. The
representations, warranties and covenants contained in the Arrangement Agreement
are made only for purposes of the agreement and are made as of specific dates;
are solely for the benefit of the parties; may be subject to qualifications and
limitations agreed upon by the parties in connection with negotiating the terms
of the Arrangement Agreement, including being qualified by confidential
disclosures made for the purpose of allocating contractual risk between the
parties instead of establishing matters as facts; and may be subject to
standards of materiality applicable to the contracting parties that differ from
those applicable to investors or securityholders. Investors and securityholders
should not rely on the representations, warranties and covenants or any
description thereof as characterizations of the actual state of facts or
condition of NovaCopper, Sunward or their respective subsidiaries or affiliates.
Moreover, information concerning the subject matter of the representations,
warranties and covenants may change after the date of the Arrangement Agreement,
which subsequent information may or may not be fully reflected in public
disclosures. </P>
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  <TR vAlign=top>
    <TD align=left><STRONG>Item 9.01 </STRONG></TD>
    <TD align=left width="90%"><B>Financial Statements and Exhibits</B>
  </TD></TR></TABLE>
<P align=justify>(d) Exhibits </P>
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  <TR vAlign=top>
    <TD noWrap align=left><B>Exhibit Number</B> </TD>
    <TD noWrap align=left width="90%"><B>Description</B> </TD></TR>
  <TR vAlign=top>
    <TD noWrap align=left bgColor=#eeeeee><a href="exhibit2-1.htm">2.1</a></TD>
    <TD noWrap align=left width="90%" bgColor=#eeeeee><a href="exhibit2-1.htm">Arrangement Agreement,
      dated April 22, 2015, between NovaCopper Inc. and Sunward Resources Ltd.</a>    </TD></TR>
  <TR vAlign=top>
    <TD noWrap align=left><a href="exhibit10-1.htm">10.1</a></TD>
    <TD noWrap align=left width="90%"><a href="exhibit10-1.htm">Voting Support Agreement, dated April
      22, 2015, between NovaCopper Inc. and Gold First Investments Limited </a></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><a href="exhibit10-2.htm">10.2</a></TD>
    <TD align=left width="90%" bgColor=#eeeeee><a href="exhibit10-2.htm">Voting Support Agreement, dated
      April 22, 2015, between NovaCopper Inc. and Electrum Strategic
      Acquisitions LLC</a></TD></TR>
  <TR vAlign=top>
    <TD align=left><a href="exhibit10-3.htm">10.3</a></TD>
    <TD align=left width="90%"><a href="exhibit10-3.htm">Voting Support Agreement, dated April 22, 2015,
      between NovaCopper Inc. and Electrum Strategic Acquisitions II LLC</a></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><a href="exhibit10-4.htm">10.4</a> </TD>
    <TD align=left width="90%" bgColor=#eeeeee><a href="exhibit10-4.htm">Voting Support Agreement, dated
      April 22, 2015, between NovaCopper Inc. and Baupost Group Securities,
      L.L.C. </a></TD></TR>
  <TR vAlign=top>
    <TD align=left><a href="exhibit10-5.htm">10.5 </a></TD>
    <TD align=left width="90%"><a href="exhibit10-5.htm">Voting Support Agreement, dated April 22, 2015,
      between NovaCopper Inc. and Paulson &amp; Co. Inc.</a> </TD></TR></TABLE>
<P align=justify><B>Additional Information and Where To Find It</B></P>
<P align=justify>Further information regarding the Arrangement will be contained
in a joint information circular/proxy statement to be prepared by Sunward and
NovaCopper, filed by NovaCopper on SEDAR and with the U.S. Securities and
Exchange Commission (the &#147;SEC&#148;) and mailed in due course to shareholders in
connection with the special meeting of the NovaCopper shareholders. The joint
information circular/proxy statement will contain important information about
the proposed Arrangement and related matters. INVESTORS AND SHAREHOLDERS ARE
URGED TO READ THE JOINT INFORMATION CIRCULAR/PROXY STATEMENT CAREFULLY WHEN IT
BECOMES AVAILABLE.</P>
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<P align=justify><B>Participants in Solicitation </B></P>
<P align=justify>NovaCopper and its directors and executive officers and other
persons may be deemed to be participants in the solicitation of proxies in
respect of the proposed transaction. Information regarding NovaCopper&#146;s
directors and executive officers is available in NovaCopper&#146;s proxy statement
filed on Schedule 14A for its 2015 annual meeting of shareholders and its 2014
Annual Report on Form 10-K, each of which have been filed with the SEC and on
SEDAR. Other information regarding the participants in the proxy solicitation
and a description of their direct and indirect interests, by security holdings
or otherwise, will be contained in the joint information circular/proxy
statement and other relevant materials to be filed with the SEC when they become
available. Investors and shareholders will be able to obtain free copies of the
forthcoming a joint information circular/proxy statement, past proxy statements
and other documents filed with the SEC by NovaCopper through the website
maintained by the SEC at www.sec.gov. In addition, investors and shareholders
will be able to obtain free copies of the joint information circular/proxy
statement from NovaCopper by telephone at (604) 638-8088, or by going to
NovaCopper&#146;s Investor Center page on its corporate website at
http://www.novacopper.com.<B> </B></P>
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<P align=center><B>SIGNATURES</B> </P>
<P align=justify style="text-indent:5%">Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized. </P>
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  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%" colSpan=2><B>NOVACOPPER INC.</B> </TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="5%" >&nbsp; </TD>
    <TD width="45%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left >Dated: April 27, 2015 </TD>
    <TD align=left width="5%" >By: </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="45%">/s/
      Elaine Sanders </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="5%" >&nbsp; </TD>
    <TD align=left width="45%">Elaine M. Sanders, Chief Financial Officer
  </TD></TR></TABLE><BR>
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<DOCUMENT>
<TYPE>EX-2.1
<SEQUENCE>2
<FILENAME>exhibit2-1.htm
<DESCRIPTION>EXHIBIT 2.1
<TEXT>
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<P align=right><B>EXECUTION VERSION </B></P>
<DIV align=center>
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  <TR vAlign=bottom>
    <TD align=center><B>NOVACOPPER INC.</B> </TD></TR>
  <TR>
    <TD align=center>&nbsp;</TD></TR>
  <TR>
    <TD align=center>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD align=center><B>AND</B> </TD></TR>
  <TR>
    <TD align=center>&nbsp;</TD></TR>
  <TR>
    <TD align=center>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=center><B>SUNWARD RESOURCES LTD.</B> </TD></TR>
  <TR>
    <TD align=center>&nbsp;</TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center><B>ARRANGEMENT
      AGREEMENT</B> </TD></TR>
  <TR>
    <TD align=center>&nbsp;</TD></TR>
  <TR>
    <TD align=center>&nbsp; </TD></TR>
  <TR>
    <TD align=center>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=center><B>DATED </B>April 22, 2015
</TD></TR></TABLE></DIV><BR>
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<P align=center><B>TABLE OF CONTENTS </B></P>
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  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="85%">&nbsp;</TD>
    <TD align=right width="5%" ><B>Page</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee colSpan=2><A
      href="#page_5"><B>ARTICLE
      1 INTERPRETATION</B> </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_5"><B>2</B>
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; &nbsp; &nbsp;<A
      href="#page_5">1.1
      </A></TD>
    <TD align=left width="85%"><A
      href="#page_5">Definitions
      </A></TD>
    <TD align=right width="5%" ><A
      href="#page_5">2
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee >&nbsp; &nbsp; &nbsp;<A
      href="#page_15">1.2
      </A></TD>
    <TD align=left width="85%" bgColor=#eeeeee><A
      href="#page_15">Interpretation
      Not Affected by Headings </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_15">12
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; &nbsp; &nbsp;<A
      href="#page_15">1.3
      </A></TD>
    <TD align=left width="85%"><A
      href="#page_15">Number
      and Gender </A></TD>
    <TD align=right width="5%" ><A
      href="#page_15">12
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee >&nbsp; &nbsp; &nbsp;<A
      href="#page_15">1.4
      </A></TD>
    <TD align=left width="85%" bgColor=#eeeeee><A
      href="#page_15">Date
      for Any Action </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_15">12
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; &nbsp; &nbsp;<A
      href="#page_16">1.5
      </A></TD>
    <TD align=left width="85%"><A
      href="#page_16">Currency
      </A></TD>
    <TD align=right width="5%" ><A
      href="#page_16">13
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee >&nbsp; &nbsp; &nbsp;<A
      href="#page_16">1.6
      </A></TD>
    <TD align=left width="85%" bgColor=#eeeeee><A
      href="#page_16">Accounting
      Matters </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_16">13
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; &nbsp; &nbsp;<A
      href="#page_16">1.7
      </A></TD>
    <TD align=left width="85%"><A
      href="#page_16">Knowledge
      </A></TD>
    <TD align=right width="5%" ><A
      href="#page_16">13
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee >&nbsp; &nbsp; &nbsp;<A
      href="#page_16">1.8
      </A></TD>
    <TD align=left width="85%" bgColor=#eeeeee><A
      href="#page_16">Schedules
      </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_16">13
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left colSpan=2><A
      href="#page_16"><B>ARTICLE
      2 THE ARRANGEMENT</B> </A></TD>
    <TD align=right width="5%" ><A
      href="#page_16"><B>13</B>
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee >&nbsp; &nbsp; &nbsp;<A
      href="#page_16">2.1
      </A></TD>
    <TD align=left width="85%" bgColor=#eeeeee><A
      href="#page_16">Arrangement
      </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_16">13
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; &nbsp; &nbsp;<A
      href="#page_16">2.2
      </A></TD>
    <TD align=left width="85%"><A
      href="#page_16">Interim
      Order </A></TD>
    <TD align=right width="5%" ><A
      href="#page_16">13
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee >&nbsp; &nbsp; &nbsp;<A
      href="#page_17">2.3
      </A></TD>
    <TD align=left width="85%" bgColor=#eeeeee><A
      href="#page_17">Sunward
      Meeting </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_17">14
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; &nbsp; &nbsp;<A
      href="#page_18">2.4
      </A></TD>
    <TD align=left width="85%"><A
      href="#page_18">Sunward
      Circular </A></TD>
    <TD align=right width="5%" ><A
      href="#page_18">15
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee >&nbsp; &nbsp; &nbsp;<A
      href="#page_19">2.5
      </A></TD>
    <TD align=left width="85%" bgColor=#eeeeee><A
      href="#page_19">NovaCopper
      Meeting </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_19">16
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; &nbsp; &nbsp;<A
      href="#page_20">2.6
      </A></TD>
    <TD align=left width="85%"><A
      href="#page_20">NovaCopper
      Circular </A></TD>
    <TD align=right width="5%" ><A
      href="#page_20">17
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee >&nbsp; &nbsp; &nbsp;<A
      href="#page_21">2.7
      </A></TD>
    <TD align=left width="85%" bgColor=#eeeeee><A
      href="#page_21">Preparation
      of Filings </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_21">18
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; &nbsp; &nbsp;<A
      href="#page_21">2.8
      </A></TD>
    <TD align=left width="85%"><A
      href="#page_21">Final
      Order </A></TD>
    <TD align=right width="5%" ><A
      href="#page_21">18
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee >&nbsp; &nbsp; &nbsp;<A
      href="#page_22">2.9
      </A></TD>
    <TD align=left width="85%" bgColor=#eeeeee><A
      href="#page_22">Court
      Proceedings </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_22">19
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; &nbsp; &nbsp;<A
      href="#page_22">2.10
      </A></TD>
    <TD align=left width="85%"><A
      href="#page_22">Effect
      of the Arrangement </A></TD>
    <TD align=right width="5%" ><A
      href="#page_22">19
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee >&nbsp; &nbsp; &nbsp;<A
      href="#page_22">2.11
      </A></TD>
    <TD align=left width="85%" bgColor=#eeeeee><A
      href="#page_22">Payment
      of Consideration </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_22">19
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; &nbsp; &nbsp;<A
      href="#page_23">2.12
      </A></TD>
    <TD align=left width="85%"><A
      href="#page_23">Announcement
      and Shareholder Communications </A></TD>
    <TD align=right width="5%" ><A
      href="#page_23">20
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee >&nbsp; &nbsp; &nbsp;<A
      href="#page_23">2.13
      </A></TD>
    <TD align=left width="85%" bgColor=#eeeeee><A
      href="#page_23">Withholding
      Taxes </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_23">20
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; &nbsp; &nbsp;<A
      href="#page_23">2.14
      </A></TD>
    <TD align=left width="85%"><A
      href="#page_23">Tax
      Matters </A></TD>
    <TD align=right width="5%" ><A
      href="#page_23">20
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee colSpan=2><A
      href="#page_23"><B>ARTICLE
      3 REPRESENTATIONS AND WARRANTIES OF SUNWARD</B> </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_23"><B>20</B>
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; &nbsp; &nbsp;<A
      href="#page_23">3.1
      </A></TD>
    <TD align=left width="85%"><A
      href="#page_23">Representations
      and Warranties </A></TD>
    <TD align=right width="5%" ><A
      href="#page_23">20
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee >&nbsp; &nbsp; &nbsp;<A
      href="#page_36">3.2
      </A></TD>
    <TD align=left width="85%" bgColor=#eeeeee><A
      href="#page_36">Survival
      of Representations and Warranties </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_36">33
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left colSpan=2><A
      href="#page_36"><B>ARTICLE
      4 REPRESENTATIONS AND WARRANTIES OF NOVACOPPER</B> </A></TD>
    <TD align=right width="5%" ><A
      href="#page_36"><B>33</B>
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee >&nbsp; &nbsp; &nbsp;<A
      href="#page_36">4.1
      </A></TD>
    <TD align=left width="85%" bgColor=#eeeeee><A
      href="#page_36">Representations
      and Warranties </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_36">33
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; &nbsp; &nbsp;<A
      href="#page_48">4.2
      </A></TD>
    <TD align=left width="85%"><A
      href="#page_48">Survival
      of Representations and Warranties </A></TD>
    <TD align=right width="5%" ><A
      href="#page_48">45
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee colSpan=2><A
      href="#page_49"><B>ARTICLE
      5 COVENANTS</B> </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_49"><B>46</B>
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; &nbsp; &nbsp;<A
      href="#page_49">5.1
      </A></TD>
    <TD align=left width="85%"><A
      href="#page_49">Covenants
      of Sunward Regarding the Conduct of Business </A></TD>
    <TD align=right width="5%" ><A
      href="#page_49">46
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee >&nbsp; &nbsp; &nbsp;<A
      href="#page_52">5.2
      </A></TD>
    <TD align=left width="85%" bgColor=#eeeeee><A
      href="#page_52">Covenants
      of Sunward Relating to the Arrangement </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_52">49
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; &nbsp; &nbsp;<A
      href="#page_53">5.3
      </A></TD>
    <TD align=left width="85%"><A
      href="#page_53">Covenants
      of NovaCopper Regarding the Conduct of Business </A></TD>
    <TD align=right width="5%" ><A
      href="#page_53">50
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee >&nbsp; &nbsp; &nbsp;<A
      href="#page_53">5.4
      </A></TD>
    <TD align=left width="85%" bgColor=#eeeeee><A
      href="#page_53">Covenants
      of NovaCopper Relating to the Arrangement </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_53">50
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; &nbsp; &nbsp;<A
      href="#page_55">5.5
      </A></TD>
    <TD align=left width="85%"><A
      href="#page_55">Additional
      Covenants </A></TD>
    <TD align=right width="5%" ><A
      href="#page_55">52
      </A></TD></TR></TABLE>
<P align=center>i </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_3></A>
<P align=center><B>TABLE OF CONTENTS <BR>(continued) </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="85%">&nbsp;</TD>
    <TD align=right width="5%" ><B>Page</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee colSpan=2><A
      href="#page_56"><B>ARTICLE
      6 CONDITIONS</B> </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_56"><B>53</B>
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; &nbsp; &nbsp;<A
      href="#page_56">6.1
      </A></TD>
    <TD align=left width="85%"><A
      href="#page_56">Mutual
      Conditions Precedent </A></TD>
    <TD align=right width="5%" ><A
      href="#page_56">53
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee >&nbsp; &nbsp; &nbsp;<A
      href="#page_57">6.2
      </A></TD>
    <TD align=left width="85%" bgColor=#eeeeee><A
      href="#page_57">Additional
      Conditions Precedent to the Obligations of NovaCopper </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_57">54
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; &nbsp; &nbsp;<A
      href="#page_58">6.3
      </A></TD>
    <TD align=left width="85%"><A
      href="#page_58">Additional
      Conditions Precedent to the Obligations of Sunward </A></TD>
    <TD align=right width="5%" ><A
      href="#page_58">55
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee >&nbsp; &nbsp; &nbsp;<A
      href="#page_59">6.4
      </A></TD>
    <TD align=left width="85%" bgColor=#eeeeee><A
      href="#page_59">Satisfaction
      of Conditions </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_59">56
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left colSpan=2><A
      href="#page_59"><B>ARTICLE
      7 ADDITIONAL AGREEMENTS</B> </A></TD>
    <TD align=right width="5%" ><A
      href="#page_59"><B>56</B>
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee >&nbsp; &nbsp; &nbsp;<A
      href="#page_59">7.1
      </A></TD>
    <TD align=left width="85%" bgColor=#eeeeee><A
      href="#page_59">Notice
      and Cure Provisions </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_59">56
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; &nbsp; &nbsp;<A
      href="#page_59">7.2
      </A></TD>
    <TD align=left width="85%"><A
      href="#page_59">Non-Solicitation
      </A></TD>
    <TD align=right width="5%" ><A
      href="#page_59">56
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee >&nbsp; &nbsp; &nbsp;<A
      href="#page_62">7.3
      </A></TD>
    <TD align=left width="85%" bgColor=#eeeeee><A
      href="#page_62">Right
      to Match </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_62">59
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; &nbsp; &nbsp;<A
      href="#page_63">7.4
      </A></TD>
    <TD align=left width="85%"><A
      href="#page_63">Expenses
      and Termination Fees </A></TD>
    <TD align=right width="5%" ><A
      href="#page_63">60
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee >&nbsp; &nbsp; &nbsp;<A
      href="#page_65">7.5
      </A></TD>
    <TD align=left width="85%" bgColor=#eeeeee><A
      href="#page_65">Access
      to Information; Confidentiality </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_65">62
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; &nbsp; &nbsp;<A
      href="#page_65">7.6
      </A></TD>
    <TD align=left width="85%"><A
      href="#page_65">Insurance
      and Indemnification </A></TD>
    <TD align=right width="5%" ><A
      href="#page_65">62
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee colSpan=2><A
      href="#page_66"><B>ARTICLE
      8 TERM, TERMINATION, AMENDMENT AND WAIVER</B> </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_66"><B>63</B>
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; &nbsp; &nbsp;<A
      href="#page_66">8.1
      </A></TD>
    <TD align=left width="85%"><A
      href="#page_66">Term
      </A></TD>
    <TD align=right width="5%" ><A
      href="#page_66">63
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee >&nbsp; &nbsp; &nbsp;<A
      href="#page_66">8.2
      </A></TD>
    <TD align=left width="85%" bgColor=#eeeeee><A
      href="#page_66">Termination
      </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_66">63
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; &nbsp; &nbsp;<A
      href="#page_69">8.3
      </A></TD>
    <TD align=left width="85%"><A
      href="#page_69">Amendment
      </A></TD>
    <TD align=right width="5%" ><A
      href="#page_69">66
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee >&nbsp; &nbsp; &nbsp;<A
      href="#page_69">8.4
      </A></TD>
    <TD align=left width="85%" bgColor=#eeeeee><A
      href="#page_69">Waiver
      </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_69">66
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left colSpan=2><A
      href="#page_69"><B>ARTICLE
      9 GENERAL PROVISIONS</B> </A></TD>
    <TD align=right width="5%" ><A
      href="#page_69"><B>66</B>
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee >&nbsp; &nbsp; &nbsp;<A
      href="#page_69">9.1
      </A></TD>
    <TD align=left width="85%" bgColor=#eeeeee><A
      href="#page_69">Privacy
      </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_69">66
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; &nbsp; &nbsp;<A
      href="#page_70">9.2
      </A></TD>
    <TD align=left width="85%"><A
      href="#page_70">Notices
      </A></TD>
    <TD align=right width="5%" ><A
      href="#page_70">67
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee >&nbsp; &nbsp; &nbsp;<A
      href="#page_71">9.3
      </A></TD>
    <TD align=left width="85%" bgColor=#eeeeee><A
      href="#page_71">Governing
      Law; Waiver of Jury Trial </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_71">68
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; &nbsp; &nbsp;<A
      href="#page_71">9.4
      </A></TD>
    <TD align=left width="85%"><A
      href="#page_71">Injunctive
      Relief </A></TD>
    <TD align=right width="5%" ><A
      href="#page_71">68
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee >&nbsp; &nbsp; &nbsp;<A
      href="#page_71">9.5
      </A></TD>
    <TD align=left width="85%" bgColor=#eeeeee><A
      href="#page_71">Time
      of Essence </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_71">68
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; &nbsp; &nbsp;<A
      href="#page_71">9.6
      </A></TD>
    <TD align=left width="85%"><A
      href="#page_71">Entire
      Agreement, Binding Effect and Assignment </A></TD>
    <TD align=right width="5%" ><A
      href="#page_71">68
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee >&nbsp; &nbsp; &nbsp;<A
      href="#page_72">9.7
      </A></TD>
    <TD align=left width="85%" bgColor=#eeeeee><A
      href="#page_72">Severability
      </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_72">69
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; &nbsp; &nbsp;<A
      href="#page_72">9.8
      </A></TD>
    <TD align=left width="85%"><A
      href="#page_72">No
      Third Party Beneficiaries </A></TD>
    <TD align=right width="5%" ><A
      href="#page_72">69
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee >&nbsp; &nbsp; &nbsp;<A
      href="#page_72">9.9
      </A></TD>
    <TD align=left width="85%" bgColor=#eeeeee><A
      href="#page_72">Rules
      of Construction </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_72">69
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; &nbsp; &nbsp;<A
      href="#page_72">9.10
      </A></TD>
    <TD align=left width="85%"><A
      href="#page_72">Counterparts,
      Execution </A></TD>
    <TD align=right width="5%" ><A
      href="#page_72">69
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee colSpan=2><A
      href="#page_74">SCHEDULE
      A PLAN OF ARRANGEMENT </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_74">A-1
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left colSpan=2><A
      href="#page_84">SCHEDULE
      B ARRANGEMENT RESOLUTION </A></TD>
    <TD align=right width="5%" ><A
      href="#page_84">B-1
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee colSpan=2><A
      href="#page_86">SCHEDULE
      C KEY REGULATORY APPROVALS </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_86">C-1
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left colSpan=2><A
      href="#page_87">SCHEDULE
      D KEY THIRD PARTY CONSENTS </A></TD>
    <TD align=right width="5%" ><A
      href="#page_87">D-1
      </A></TD></TR></TABLE>
<P align=center>ii </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_4></A>
<P align=center><B>ARRANGEMENT AGREEMENT </B></P>
<P align=left><B style="margin-left:10%">THIS ARRANGEMENT AGREEMENT</B> dated April 22, 2015 </P>
<P align=justify><B>BETWEEN: </B></P>
<P style="MARGIN-LEFT: 10%" align=justify><B>NOVACOPPER INC.</B>, a corporation
existing under the Laws of the Province of British Columbia
(&#147;<B>NovaCopper</B>&#148;) </P>
<P align=justify><B>AND: </B></P>
<P style="MARGIN-LEFT: 10%" align=justify><B>SUNWARD RESOURCES LTD.</B>, a
corporation existing under the Laws of the Province of British Columbia
(&#147;<B>Sunward</B>&#148;) </P>
<P align=justify><B>RECITALS: </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">A. </TD>
    <TD>
      <P align=justify>NovaCopper desires to acquire all of the issued and
      outstanding Sunward Shares (as hereinafter defined).</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">B. </TD>
    <TD>
      <P align=justify>The Parties (as hereinafter defined) have determined that
      the transactions contemplated by this Agreement will be effected by means
      of a Plan of Arrangement under the BCBCA (as hereinafter defined) and
      Sunward has agreed to submit the Plan of Arrangement for approval by the
      Sunward Shareholders (as hereinafter defined) and the Supreme Court of
      British Columbia.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">C. </TD>
    <TD>
      <P align=justify>The Sunward Board (as hereinafter defined) has
      determined, after receiving financial and legal advice and following the
      receipt and review of a unanimous recommendation from the Special
      Committee (as hereinafter defined) that the Consideration (as hereinafter
      defined) per Sunward Share to be received by Sunward Shareholders pursuant
      to the Arrangement (as hereinafter defined) is fair to Sunward
      Shareholders from a financial point of view and that the Arrangement is in
      the best interests of Sunward, and the Sunward Board has resolved to
      recommend that the Sunward Shareholders vote in favour of the Arrangement,
      all subject to the terms and the conditions contained in this
      Agreement.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">D. </TD>
    <TD>
      <P align=justify>The NovaCopper Board (as hereinafter defined) has
      determined, after receiving financial and legal advice, that the
      Arrangement is advisable and in the best interests of NovaCopper, and the
      NovaCopper Board has resolved to recommend that the NovaCopper
      Shareholders vote in favour of the issuance of the Consideration Shares
      (as hereinafter defined), the DSU Shares, and reservation for issuance of
      the Option Shares (as hereinafter defined), as may be required by the NYSE
      MKT, all subject to the terms and the conditions contained in this
      Agreement.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">E. </TD>
    <TD>
      <P align=justify>NovaCopper has entered into the NovaCopper Voting
      Agreements (as hereinafter defined) with the Sunward Locked-Up
      Shareholders (as hereinafter defined), pursuant to which, among other
      things, such Sunward Shareholders have agreed, subject to the terms and
      conditions thereof, to vote the Sunward Shares held by them in favour of
      the Arrangement.</P></TD></TR></TABLE>
<P align=justify><B>THIS AGREEMENT WITNESSES THAT</B> in consideration of the
covenants and agreements herein contained and other good and valuable
consideration (the receipt and sufficiency of which are hereby acknowledged),
the Parties hereto covenant and agree as follows: </P>
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<P align=center><B>ARTICLE 1 <BR>INTERPRETATION
</B></P>
<TABLE
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cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>1.1</B> </TD>
    <TD>
      <P align=justify><B>Definitions</B></P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 5%" align=justify>In this Agreement, unless the context
otherwise requires: </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Acquisition Proposal</B>&#148; means,
other than the transactions contemplated by this Agreement, including any
transaction involving only Sunward or NovaCopper and/or one or more of its
wholly-owned subsidiaries, any offer, proposal, expression of interest, or
inquiry from any Person or group of Persons (other than a Party or any of its
affiliates) after the date hereof relating to:</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>any acquisition or sale, direct or indirect (including by
      way of option, lease or joint venture), of:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>the assets of a Party and/or one or more of its
      subsidiaries that, individually or in the aggregate, constitute 20% or
      more of the fair market value of the consolidated assets of such Party and
      its subsidiaries, taken as a whole; or</P></TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>20% or more of any voting or equity securities, or any
      securities exchangeable for or convertible into voting or equity
      securities, of a Party or any of its subsidiaries whose assets,
      individually or in the aggregate, constitute 20% or more of the fair
      market value of the consolidated assets of such Party and its
      subsidiaries, taken as a whole;</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>any take-over bid, tender offer or exchange offer for any
      class of voting or equity securities, or any securities exchangeable for
      or convertible into voting or equity securities, of a Party and/or one or
      more of its subsidiaries that, if consummated, would result in such Person
      or Persons beneficially owning 20% or more of any class of such
      securities;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>a plan of arrangement, merger, amalgamation,
      consolidation, share exchange, business combination, reorganization,
      recapitalization, joint venture, partnership, liquidation, dissolution or
      other similar transaction involving a Party or any of its
    subsidiaries;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>any transaction or series of transactions similar to
      those referred to in paragraphs (a), (b), or (c) above involving a Party
      or any of its subsidiaries; or</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(e) </TD>
    <TD>
      <P align=justify>any public announcement of an intention to do any of the
      foregoing;</P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>affiliate</B>&#148; has the meaning
ascribed thereto in the <I>Securities Act</I>; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Agreement</B>&#148; means this
arrangement agreement, including all schedules annexed hereto, together with the
Sunward Disclosure Letter and the NovaCopper Disclosure Letter, as the same may
be amended, supplemented or otherwise modified from time to time in accordance
with the terms hereof; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Applicable Anti-Corruption
Laws</B>&#148; has the meaning ascribed thereto in Section 3.1(ii); </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Arrangement</B>&#148; means the
arrangement under Section 288 of the BCBCA on the terms and subject to the
conditions set out in the Plan of Arrangement, subject to any amendments or
variations thereto made in accordance with Section 8.3 hereof or the Plan of
Arrangement or made at the direction of the Court in the Final Order (provided
that any such amendment or variation is acceptable to both Sunward and
NovaCopper, each acting reasonably); </P>
<P align=right>2 </P>
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<P style="MARGIN-LEFT: 5%" align=justify><B>&#147;Arrangement Option&#148;</B> has the
meaning ascribed thereto in Section 5.4(h);<B> </B></P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Arrangement Resolution</B>&#148; means
the special resolution of the Sunward Shareholders approving the Plan of
Arrangement which is to be considered at the Sunward Meeting and shall be
substantially in the form and content of Schedule &#147;B&#148; hereto; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Authorization</B>&#148; means any
authorization, order, permit, approval, grant, licence, registration, consent,
right, notification, condition, franchise, privilege, certificate, judgment,
writ, injunction, award, determination, direction, decision, decree, bylaw, rule
or regulation, whether or not having the force of Law, and includes any
Environmental Permit; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>BCBCA</B>&#148; means the <I>Business
Corporations Act</I> (British Columbia) and the regulations made thereunder, as
now in effect and as they may be promulgated or amended from time to time; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>BCSC</B>&#148; means the British
Columbia Securities Commission, and includes any successor thereto; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Board Nominees</B>&#148; means two
persons nominated by Gold First to be directors of NovaCopper as of the
Effective Time, provided that such persons shall be acceptable to NovaCopper,
acting reasonably; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>business day</B>&#148; means any day,
other than a Saturday, a Sunday or a statutory or civic holiday in Vancouver,
British Columbia; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Change in Recommendation</B>&#148; means
the circumstances where, prior to Sunward having obtained the Sunward
Shareholder Approval or NovaCopper having obtained the NovaCopper Shareholder
Approval, as applicable, the board of directors of a Party fails to recommend or
withdraws, amends, modifies or qualifies, in a manner adverse to the other Party
or fails to reaffirm its recommendation of the Arrangement within five (5)
business days (and in any case prior to the Sunward Meeting and the NovaCopper
Meeting) after having been requested in writing by such other Party to do so, in
a manner adverse to such other Party (it being understood that the taking of a
neutral position or no position with respect to an Acquisition Proposal beyond a
period of ten (10) business days (or beyond the date which is one business day
prior to the Sunward Meeting and the NovaCopper Meeting, if sooner) shall be
considered an adverse modification); </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Confidentiality Agreement</B>&#148;
means the mutual confidentiality agreement between NovaCopper and Sunward, dated
January 21, 2015, as amended or supplemented from time to time; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Consideration</B>&#148; means the
consideration to be received by the Sunward Shareholders pursuant to the Plan of
Arrangement as consideration for their Sunward Shares, consisting of 0.30
NovaCopper Shares per Sunward Share; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Consideration Shares</B>&#148; means the
NovaCopper Shares to be issued as the Consideration pursuant to the Arrangement;
</P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Contract</B>&#148; means any contract,
agreement, license, franchise, lease, arrangement, commitment, understanding,
joint venture, partnership or other right or obligation (written or oral) to
which a Party or any of its subsidiaries is a party or by which it or any of its
subsidiaries is bound or affected or to which any of their respective properties
or assets is subject; </P>
<P align=right>3 </P>
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<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Court</B>&#148; means the Supreme Court
of British Columbia; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>D&amp;O Insurance</B>&#148; has the
meaning ascribed thereto in Section 7.6(a); </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Depositary</B>&#148; means any trust
company, bank or other financial institution agreed to in writing by Sunward and
NovaCopper for the purpose of, among other things, exchanging certificates
representing Sunward Shares for the Consideration in connection with the
Arrangement; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Dissent Rights</B>&#148; means the
rights of dissent exercisable by the Sunward Shareholders in respect of the
Arrangement described in Article 4 of the Plan of Arrangement; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>DSU Shares</B>&#148; means the
NovaCopper Shares issuable upon the automatic vesting of the Sunward DSUs at the
Effective Time; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Effective Date</B>&#148; has the meaning
ascribed thereto in Section 2.10(a); </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Effective Time</B>&#148; means the time
on the Effective Date that the Arrangement will be deemed to have been
completed, which shall be 12:01 am (Vancouver time) on the Effective Date or
such other time as agreed to by NovaCopper and Sunward in writing; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Environmental Laws</B>&#148; means all
Laws, including the laws of Colombia and the United States, as applicable,
imposing obligations, responsibilities, liabilities or standards of conduct for
or relating to: (a) the regulation or control of pollution, contamination,
activities, materials, substances or wastes in connection with or for the
protection of human health or safety, the environment or natural resources
(including climate, air, surface water, groundwater, wetlands, land surface,
subsurface strata, wildlife, aquatic species and vegetation); or (b) the use,
generation, disposal, treatment, processing, recycling, handling, transport,
distribution, destruction, transfer, import, export or sale of Hazardous
Substances; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Environmental Liabilities</B>&#148;
means, with respect to any Person, all liabilities, obligations,
responsibilities, responses, losses, damages, punitive damages, property
damages, consequential damages, treble damages, costs (including control,
remedial and removal costs, investigation costs, capital costs, operation and
maintenance costs), expenses, fines, penalties and sanctions incurred as a
result of or related to any claim, suit, action, administrative or court order,
investigation, proceeding or demand by any Person, whether based in contract,
tort, implied or express warranty, strict liability, criminal or civil statute
or common law, relating to any environmental matter, arising under or related to
any Environmental Laws, Environmental Permits, or in connection with any: (a)
Release or threatened Release or presence of a Hazardous Substance whether on,
at, in, under, from or about or in the vicinity of any real or personal
property; (b) tank, drum, pipe or other container that contains or contained a
Hazardous Substance; or (c) use, generation, disposal, treatment, processing,
recycling, handling, transport, transfer, import, export or sale of Hazardous
Substance; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Environmental Permits</B>&#148; means
all Permits or program participation requirements, sign-offs or registrations
required by or available with or from any Governmental Entity under any
Environmental Laws; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Exchange Ratio</B>&#148;<B> </B>means
0.30; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Filing Deadline</B>&#148; means the date
of filing by NovaCopper of the Preliminary NovaCopper Circular with the SEC,
which shall be the later of (a) April 28, 2015; and (b) the date that is three
(3) days following receipt by NovaCopper from Sunward of all of
Sunward&#146;s information required to be included in the NovaCopper Circular; </P>
<P align=right>4 </P>
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<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Final Order</B>&#148; means the final
order of the Court pursuant to Section 291 of the BCBCA, in a form acceptable to
Sunward and NovaCopper, each acting reasonably, approving the Arrangement, as
such order may be amended by the Court (with the consent of both Sunward and
NovaCopper, each acting reasonably) at any time prior to the Effective Date or,
if appealed, then, unless such appeal is withdrawn or denied, as affirmed or as
amended (provided that any such amendment is acceptable to both Sunward and
NovaCopper, each acting reasonably) on appeal; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Gold First</B>&#148; means Gold First
Investments Limited, a holder of 32.6% of Sunward&#146;s Shares; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Governmental Entity</B>&#148; means: (a)
any multinational, national, federal, provincial, territorial, state, regional,
municipal, local or other government, governmental or public department, central
bank, court, tribunal, arbitral body, commission, board, bureau, ministry,
agency or entity, domestic or foreign; (b) any stock exchange, including the TSX
or the NYSE MKT; (c) any subdivision, agent, commission, board or authority of
any of the foregoing; or (d) any quasi-governmental or private body, including
any tribunal, commission, regulatory agency or self-regulatory organization,
exercising any regulatory, expropriation or taxing authority under or for the
account of any of the foregoing; (e) any corporation or other body that is
wholly or partially owned (20% or greater) or controlled by any of the above; or
(f) any public international organization; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Government Official</B>&#148; includes
(i) any employee, official or agent of any Government Entity; (ii) any person
who holds a legislative, administrative, regulatory or judicial position with
any Government Entity; or (iii) any member of a political party or candidate for
public office outside of Canada or the United States; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Hazardous Substance</B>&#148; means any
pollutant, contaminant, waste or chemical or any toxic, radioactive, ignitable,
corrosive, reactive or otherwise hazardous or deleterious substance, waste or
material, including hydrogen sulphide, arsenic, cadmium, copper, lead, mercury,
petroleum, polychlorinated biphenyls, asbestos and urea-formaldehyde insulation,
and any other material, substance, pollutant or contaminant regulated or defined
pursuant to, or that could result in liability under, any Environmental Law;
</P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>IFRS</B>&#148; means International
Financial Reporting Standards as issued by the International Accounting
Standards Board; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>including</B>&#148; means including
without limitation, and &#147;<B>include</B>&#148; and &#147;<B>includes</B>&#148; have a
corresponding meaning; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>In-the-Money Amount</B>&#148; in respect
of a stock option means the amount, if any, by which the aggregate fair market
value at the time of the securities subject to the stock option exceeds the
aggregate exercise price of the stock option; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Interim Order</B>&#148; means the
interim order of the Court in a form acceptable to Sunward and NovaCopper, each
acting reasonably, providing for, among other things, the calling and holding of
the Sunward Meeting, as the same may be amended by the Court with the consent of
Sunward and NovaCopper, each acting reasonably; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Key Regulatory Approvals</B>&#148; means
those sanctions, rulings, consents, orders, exemptions, permits and other
approvals (including the waiver or lapse, without objection, of a prescribed
time under a statute or regulation that states that a
transaction may be implemented if a prescribed time lapses following the giving
of notice without an objection being made) of Governmental Entities, as set out
in Schedule &#147;C&#148; hereto; </P>
<P align=right>5 </P>
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<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Key Third Party Consents</B>&#148; means
those consents, approvals and notices required from any third party in respect
of the completion of the Arrangement that are set out in Schedule &#147;D&#148; hereto;
</P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Law</B>&#148; or &#147;<B>Laws</B>&#148; means all
laws (including common law), by-laws, statutes, rules, regulations, principles
of law and equity, orders, rulings, ordinances, judgments, injunctions,
determinations, awards, decrees or other requirements, whether domestic or
foreign, and the terms and conditions of any Permit of or from any Governmental
Entity or self-regulatory authority (including the TSX and the NYSE MKT), and
the term &#147;<B>applicable</B>&#148; with respect to such Laws and in a context that
refers to a Party, means such Laws as are applicable to such Party and/or its
subsidiaries or their business, undertaking, property or securities and emanate
from a Person having jurisdiction over the Party and/or its subsidiaries or its
or their business, undertaking, property or securities; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Liens</B>&#148; means any hypothecs,
mortgages, pledges, assignments, liens, charges, security interests,
encumbrances and adverse rights or claims, other third party interest or
encumbrance of any kind, whether contingent or absolute, and any agreement,
option, right or privilege (whether by Law, contract or otherwise) capable of
becoming any of the foregoing; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Mailing Deadline</B>&#148; means the
date that is three (3) days following the expiration of the 10-day waiting
period following the filing of the Preliminary NovaCopper Circular with the SEC
or the satisfaction of any comments from the SEC on the Preliminary NovaCopper
Circular; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Material Adverse Effect</B>&#148; means,
in respect of any Person, any change, effect, event or circumstance that,
individually or in the aggregate with other such changes, effects, events or
circumstances, has had or would reasonably be expected to have a material
adverse effect on the business, results of operations or financial condition of
such Person and its subsidiaries, taken as a whole; provided that no change,
effect, event or circumstance resulting from or attributable to any of the
following shall be deemed to be, or taken into account in determining whether
there has been or would reasonably expected to be, a Material Adverse Effect:
(i) the announcement of the execution of this Agreement or the transactions
contemplated hereby; (ii) general political, economic or financial conditions in
Canada, the United States or Colombia; (iii) the state of securities or
commodity markets in general; (iv) any change in applicable Laws or in the
interpretation or application thereof by any Governmental Entity provided that
such change does not have the effect of expropriating or materially reducing the
ownership interest in, or rights to, the property and the Mineral Rights of that
Person; (v) any change in IFRS or in the interpretation or application thereof
by any Governmental Entity; (vi) any weather-related event or natural disaster
or outbreak or escalation of hostilities or acts of war (whether or not
declared) or act of terrorism; (vii) changes affecting the mining industry
generally or the price of gold; (viii) any change, in and of itself, in the
market price or trading volume of such Person&#146;s common shares (it being
understood that the facts or occurrences giving rise to or contributing to such
change may be taken into account in determining whether there has been, or will
be, a Material Adverse Effect); provided that, in the case of clauses (ii),
(iii), (iv), (v), (vi) and (vii), any such change, effect, event or circumstance
shall not be excluded to the extent the same disproportionately affects
(individually or together with other changes, effects, events or circumstances)
such Person and its subsidiaries, taken as a whole, as compared to other
similarly situated Persons operating in the same industry in which such Person
and its subsidiaries operate; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>material fact</B>&#148; and &#147;<B>material
change</B>&#148; have the meanings ascribed thereto in the Securities Act; </P>
<P align=right>6 </P>
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<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>MD&amp;A</B>&#148; has the meaning
ascribed thereto in Section 3.1(j); </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Meeting Deadline</B>&#148; means thirty
(30) days following the Mailing Deadline; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>misrepresentation</B>&#148; has the
meaning ascribed thereto in the Securities Act; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>NI 43-101</B>&#148; means National
Instrument 43-101 &#150; <I>Standards of Disclosure for Mineral Projects</I> of the
Canadian Securities Administrators; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>NovaCopper Aboriginal
Contracts</B>&#148; has the meaning ascribed thereto in Section 4.1(r)(x); </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>NovaCopper Board</B>&#148; means the
board of directors of NovaCopper as the same is constituted from time to time;
</P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>NovaCopper Preliminary
Circular</B>&#148; means the proxy statement as may be required by Section 14(a) of
the U.S. Exchange Act; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>NovaCopper Circular</B>&#148; means the
notice of the NovaCopper Meeting and accompanying joint management information
circular of NovaCopper and Sunward, including all schedules, appendices and
exhibits thereto and enclosures therewith, to be sent to the NovaCopper
Shareholders in connection with the NovaCopper Meeting, as amended, supplemented
or otherwise modified from time to time; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>NovaCopper Disclosure Letter</B>&#148;
means the disclosure letter executed by NovaCopper and delivered to Sunward
prior to the execution of this Agreement; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>NovaCopper Financial
Statements</B>&#148; has the meaning ascribed thereto in Section 4.1(j); </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>NovaCopper Meeting</B>&#148; means the
special meeting of NovaCopper Shareholders, including any adjournment or
postponement thereof, to be called for the purpose of obtaining NovaCopper
Shareholder Approval; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>NovaCopper Mineral Rights</B>&#148; has
the meaning ascribed thereto in Section 4.1(r); </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>NovaCopper Options</B>&#148; has the
meaning ascribed thereto in Section 4.1(e); </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>NovaCopper Properties</B>&#148; has the
meaning ascribed thereto in Section 4.1(r); </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>NovaCopper Public Disclosure
Record</B>&#148; means all prospectuses, information statements, reports, schedules,
forms and other documents filed by NovaCopper on SEDAR since November 30, 2013;
</P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>NovaCopper Shareholder
Approval</B>&#148; means the approval by the NovaCopper Shareholders by ordinary
resolution at the NovaCopper Meeting of the issuance of the Consideration
Shares, the DSU Shares and reservation for issuance of the Option Shares, in
accordance with the policies of the TSX; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>NovaCopper Shareholders</B>&#148; means
the holders of NovaCopper Shares; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>NovaCopper Shares</B>&#148; means the
common shares in the authorized capital of NovaCopper; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>NovaCopper Termination Fee
Event</B>&#148; has the meaning ascribed thereto in Section 7.4(f); </P>
<P align=right>7 </P>
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<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>NovaCopper</B> <B>Voting
Agreements</B>&#148; means the voting agreements (including all amendments thereto)
between NovaCopper and the Sunward Locked-up Shareholders setting forth the
terms and conditions upon which the Sunward Locked-up Shareholders have agreed,
among other things, to vote their Sunward Shares in favour of the Arrangement
Resolution; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>NYSE MKT</B>&#148; means the NYSE MKT
LLC; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Option Shares</B>&#148; means the
NovaCopper Shares issuable upon the exercise of Arrangement Options;<B> </B></P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>ordinary course of business</B>&#148;,
&#147;<B>ordinary course of business consistent with past practice</B>&#148;, or any
similar reference, means, with respect to an action taken by a Person, that such
action is consistent with the past practices of such Person and is taken in the
ordinary course of the normal day-to-day business and operations of such Person;
provided that in any event such action is not unreasonable or unusual; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Outside Date</B>&#148; means August 31,
2015, or such later date as may be agreed to in writing by the Parties; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Parties</B>&#148; means Sunward and
NovaCopper, and &#147;Party&#148; means any of them; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Permit</B>&#148; means any license,
permit, certificate, consent, order, grant, approval, agreement, classification,
restriction, registration or other Authorization of, from or required by any
Governmental Entity; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Permitted Liens</B>&#148; means (i)
easements, rights of way, zoning ordinances, and other similar land use and
environmental regulations which are not, individually or in the aggregate,
material in amount or effect to the business of the applicable Party and its
consolidated subsidiaries; (ii) Liens arising under or pursuant to the
organizational documents of the applicable Party or any of its subsidiaries; and
(iii) Liens which do not, individually or in the aggregate, materially detract
from the value or materially interfere with any present or intended use of such
property or assets; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Person</B>&#148; includes an individual,
partnership, association, body corporate, trustee, executor, administrator,
legal representative, government (including any Governmental Entity) or any
other entity, whether or not having legal status; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Plan of Arrangement</B>&#148; means the
plan of arrangement of Sunward, substantially in the form of Schedule &#147;A&#148;
hereto, and any amendments or variations thereto made in accordance with the
Plan of Arrangement or upon the direction of the Court in the Final Order with
the consent of Sunward and NovaCopper, each acting reasonably; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Regulatory Authorities</B>&#148; means
any regulatory or governmental agency having jurisdiction over Sunward or any of
its subsidiaries, on the one hand, or NovaCopper or any of its subsidiaries, on
the other hand, or their respective activities; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Regulatory Authorizations</B>&#148; has
the meaning ascribed thereto in Section 3.1(w); </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Release</B>&#148; means any release,
spill, emission, leaking, pumping, pouring, emitting, emptying, escape,
injection, deposit, disposal, discharge, dispersal, dumping, leaching or
migration of any Hazardous Substance in the indoor or outdoor environment,
including the movement of Hazardous Substance through or in the air, soil,
surface water, ground water or property; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Representatives</B>&#148; has the
meaning ascribed thereto in Section 7.2(a); </P>
<P align=right>8 </P>
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<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Response Period</B>&#148; has the
meaning ascribed thereto in Section 7.3(a)(ii); </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Returns</B>&#148; means all returns,
reports, declarations, elections, notices, filings, information returns and
statements in respect of Taxes that are filed or required to be filed with any
Governmental Entity, including all amendments, schedules, attachments or
supplements thereto and whether in tangible or electronic form; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>SEC</B>&#148; means the United States
Securities and Exchange Commission; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Securities Act</B>&#148; means the
<I>Securities Act</I> (British Columbia) and the rules, regulations and
published policies made thereunder, as now in effect and as they may be
promulgated or amended from time to time; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Securities Authorities</B>&#148; means
the BCSC and the applicable securities commissions and other securities
regulatory authorities in each of the other provinces of Canada; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Securities Laws</B>&#148; means the
Securities Act, the U.S. Securities Act and the U.S. Exchange Act, together with
all other applicable state, federal and provincial securities Laws, rules and
regulations and published policies thereunder, as now in effect and as they may
be promulgated or amended from time to time; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>SEDAR</B>&#148; means the System for
Electronic Document Analysis and Retrieval; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Special Committee</B>&#148; means the
special committee of the Sunward Board established to consider and make
recommendations to the Sunward Board regarding the Arrangement and any
Acquisition Proposal; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>subsidiary</B>&#148; has the meaning
ascribed thereto in National Instrument 45-106 &#150; <I>Prospectus and Registration
Exemptions</I>; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Sunward Aboriginal Contracts</B>&#148;
has the meaning ascribed thereto in Section 3.1(r)(xi); </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Sunward Benefit Plans</B>&#148; has the
meaning ascribed thereto in Section 3.1(x); </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Sunward Board</B>&#148; means the board
of directors of Sunward as the same is constituted from time to time; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Sunward Circular</B>&#148; means the
notice of the Sunward Meeting and accompanying joint management information
circular of NovaCopper and Sunward, including all schedules, appendices and
exhibits thereto and enclosures therewith, to be sent to the Sunward
Shareholders in connection with the Sunward Meeting, as amended, supplemented or
otherwise modified from time to time; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Sunward Disclosure Letter</B>&#148;
means the disclosure letter executed by Sunward and delivered to NovaCopper
prior to the execution of this Agreement; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Sunward DSUs</B>&#148; has the meaning
ascribed thereto in Section 3.1(f); </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Sunward Financial Advisors</B>&#148; has
the meaning ascribed thereto in Section 3.1(gg); </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Sunward Financial Statements</B>&#148;
has the meaning ascribed thereto in Section 3.1(j); </P>
<P align=right>9 </P>
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<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Sunward Locked-up Shareholders</B>&#148;
means all directors and officers of Sunward, all Sunward Shareholders holding
greater than 10% of the issued and outstanding Sunward Shares, Paulson Gold
Master Fund Ltd. and David Boehm; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Sunward Meeting</B>&#148; means the
special meeting of Sunward Shareholders, including any adjournment or
postponement thereof, to be called and held in accordance with the Interim Order
to consider the Arrangement Resolution; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Sunward Mineral Rights</B>&#148; has the
meaning ascribed thereto in Section 3.1(r); </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Sunward Options</B>&#148; means the
outstanding options to purchase Sunward Shares granted under the Sunward Stock
Option Plan; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Sunward Properties</B>&#148; has the
meaning ascribed thereto in Section 3.1(r); </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Sunward Public Disclosure
Record</B>&#148; means all prospectuses, information statements, reports, schedules,
forms and other documents filed by Sunward on SEDAR since March 31, 2013; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Sunward Securityholders</B>&#148; means
the Sunward Shareholders and holders of Sunward Options; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Sunward Shareholder Approval</B>&#148;
has the meaning ascribed thereto in Section 2.2(b); </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Sunward Shareholders</B>&#148; means the
holders of Sunward Shares; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Sunward Shares</B>&#148; means the
common shares in the authorized share capital of Sunward; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Sunward Stock Option Plan</B>&#148;
means the incentive stock option plan of Sunward, adopted by Sunward
Shareholders on September 10, 2013; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Sunward Termination Fee Event</B>&#148;
has the meaning ascribed thereto in Section 7.4(c); </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Superior Proposal</B>&#148; means: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>with respect to Sunward, any bona fide unsolicited
      written Acquisition Proposal made after the date of this Agreement (and
      not obtained in violation of Section 7.2) that would result in any Person
      becoming the beneficial owner of 100% of the outstanding Sunward Shares or
      all or substantially all of the consolidated assets of Sunward and its
      subsidiaries and:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>that, in the case of an Acquisition Proposal to acquire
      the outstanding Sunward Shares, is made available to all Sunward
      Shareholders on the same terms and conditions (other than in the case of
      an asset transaction);</P></TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>is not subject to a financing or due diligence
      condition;</P></TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD>
      <P align=justify>in respect of which the Sunward Board determines, in its
      good faith judgment, after receiving the advice of its outside legal
      counsel and financial advisors, that:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(A) </TD>
    <TD>
      <P align=justify>the transactions contemplated by such Acquisition
      Proposal are reasonably capable of being completed in accordance with
      their terms and without undue delay, taking into account all financial,
      legal, regulatory and other aspects of such proposal and the Person making
      such proposal;</P></TD></TR></TABLE>
<P align=right>10 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(B) </TD>
    <TD>
      <P align=justify>failure to recommend such Acquisition Proposal to the
      Sunward Shareholders would be inconsistent with its fiduciary duties under
      applicable Law; and</P></TD></TR>
  <TR>
    <TD width="15%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%">&nbsp;</TD>
    <TD vAlign=top width="5%">(C) </TD>
    <TD>
      <P align=justify>having regard for all of its terms and conditions and the
      terms and conditions of the Arrangement, such Acquisition Proposal would,
      if consummated in accordance with its terms (but not assuming away any
      risk of non-completion), result in a transaction more favourable to the
      Sunward Shareholders (in their capacity as such) from a financial point of
      view than the Arrangement, after taking into account any change to the
      terms of the Arrangement proposed by NovaCopper pursuant to Section 7.3;
      and</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>with respect to NovaCopper, any bona fide unsolicited
      written Acquisition Proposal made after the date of this Agreement (and
      not obtained in violation of Section 7.2) that would result in any Person
      becoming the beneficial owner of 100% of the outstanding NovaCopper Shares
      or all or substantially all of the consolidated assets of NovaCopper and
      its subsidiaries and:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>that, in the case of an Acquisition Proposal to acquire
      the outstanding NovaCopper Shares, is made available to all NovaCopper
      Shareholders on the same terms and conditions (other than in the case of
      an asset transaction);</P></TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>is not subject to a financing or due diligence condition;
      and</P></TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD>
      <P align=justify>in respect of which the NovaCopper Board determines, in
      its good faith judgment, after receiving the advice of its outside legal
      counsel and financial advisors, that:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(A) </TD>
    <TD>
      <P align=justify>the transactions contemplated by such Acquisition
      Proposal are reasonably capable of being completed in accordance with
      their terms and without undue delay, taking into account all financial,
      legal, regulatory and other aspects of such proposal and the Person making
      such proposal;</P></TD></TR>
  <TR>
    <TD width="15%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%">&nbsp;</TD>
    <TD vAlign=top width="5%">(B) </TD>
    <TD>
      <P align=justify>failure to recommend such Acquisition Proposal to the
      NovaCopper Shareholders would be inconsistent with its fiduciary duties
      under applicable Law; and</P></TD></TR>
  <TR>
    <TD width="15%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%">&nbsp;</TD>
    <TD vAlign=top width="5%">(C) </TD>
    <TD>
      <P align=justify>having regard for all of its terms and conditions and the
      terms and conditions of the Arrangement, such Acquisition Proposal would,
      if consummated in accordance with its terms (but not assuming away any
      risk of non-completion), result in a transaction more favourable to the
      NovaCopper Shareholders (in their capacity as such) from a financial point
      of view than the Arrangement, after taking into account any change to the
      terms of the Arrangement proposed by Sunward pursuant to Section
    7.3.</P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Tax Act</B>&#148; means the <I>Income
Tax Act</I> (Canada) and the regulations made thereunder, as now in effect and
as they may be promulgated or amended from time to time; </P>
<P align=right>11 </P>
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<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Taxes</B>&#148; includes any taxes,
duties, fees, premiums, assessments, imposts, levies, expansion fees and other
charges of any kind whatsoever imposed by any Governmental Entity, including all
interest, penalties, fines, additions to tax or other additional amounts imposed
by any Governmental Entity in respect thereof, and including those levied on, or
measured by, or referred to as, income, gross receipts, profits, windfall,
royalty, capital, transfer, land transfer, sales, goods and services, harmonized
sales, use, value-added, excise, stamp, withholding, business, franchising,
property, development, occupancy, employer health, payroll, employment, health,
social services, education and social security taxes, all surtaxes, all customs
duties and import and export taxes, countervail and anti-dumping, all licence,
franchise and registration fees and all employment insurance, health insurance
and Canada, Qu&#233;bec and other pension plan premiums or contributions imposed by
any Governmental Entity, and any transferee liability in respect of any of the
foregoing; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Termination Fee</B>&#148; means an
amount equal to US $1 million; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Titribi Project</B>&#148; means
Sunward&#146;s copper project located in the town of Titribi in the Department of
Antioquia, Columbia; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Transaction Personal
Information</B>&#148; has the meaning ascribed thereto in Section 9.1; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>TSX</B>&#148; means the Toronto Stock
Exchange; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>United States</B>&#148; means the United
States of America, its territories and possessions, any State of the United
States and the District of Columbia; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Upper Kobuk Mineral Projects</B>&#148;
means NovaCopper&#146;s Arctic and Bornite copper projects located in the Ambler
mining district in Northwestern Alaska; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>U.S. GAAP</B>&#148; means accounting
principles generally accepted in the United States; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>U.S. Exchange Act</B>&#148; means the
United States <I>Securities Exchange Act of 1934</I>, as amended and the rules
and regulations promulgated thereunder; and </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>U.S. Securities Act</B>&#148; means the
United States <I>Securities Act of 1933</I>, as amended and the rules and
regulations promulgated thereunder. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>1.2</B> </TD>
    <TD>
      <P align=justify><B>Interpretation Not Affected by
  Headings</B></P></TD></TR></TABLE>
<P align=justify style="text-indent:5%">The division of this Agreement
into Articles, Sections, subsections and paragraphs and the insertion of
headings are for convenience of reference only and shall not affect in any way
the meaning or interpretation of this Agreement. Unless the contrary intention
appears, references in this Agreement to an Article, Section, subsection,
paragraph or Schedule by number or letter or both refer to the Article, Section,
subsection, paragraph or Schedule, respectively, bearing that designation in
this Agreement. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>1.3</B> </TD>
    <TD>
      <P align=justify><B>Number and Gender</B></P></TD></TR></TABLE>
<P align=justify style="text-indent:5%">In this Agreement, unless the
contrary intention appears, words importing the singular include the plural and
vice versa, and words importing gender include all genders. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>1.4</B> </TD>
    <TD>
      <P align=justify><B>Date for Any Action</B></P></TD></TR></TABLE>
<P align=justify style="text-indent:5%">If the date on which any action
is required to be taken hereunder by a Party is not a business day, such action
shall be required to be taken on the next succeeding day which is a business
day. </P>
<P align=right>12 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_16></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>1.5</B> </TD>
    <TD>
      <P align=justify><B>Currency</B></P></TD></TR></TABLE>
<P align=justify style="text-indent:5%">Unless otherwise stated, all
references in this Agreement to sums of money are expressed in lawful money of
Canada and &#147;$&#148; refers to Canadian dollars. References to US$ in this Agreement
refer to United States dollars. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>1.6</B> </TD>
    <TD>
      <P align=justify><B>Accounting Matters</B></P></TD></TR></TABLE>
<P align=justify style="text-indent:5%">Unless otherwise stated, all
accounting terms used in this Agreement shall have the meanings attributable
thereto under IFRS and all determinations of an accounting nature required to be
made shall be made in a manner consistent with IFRS consistently applied. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>1.7</B> </TD>
    <TD>
      <P align=justify><B>Knowledge</B></P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>In this Agreement, references to &#147;the knowledge of
      Sunward&#148; means the actual knowledge of Philip O&#146;Neill, William Hayden, Jay
      Sujir and Paul Robertson, in each case, after making due enquiries
      regarding the relevant matter.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>In this Agreement, references to &#147;the knowledge of
      NovaCopper&#148; means the actual knowledge of Rick Van Nieuwenhuyse and Elaine
      Sanders, in each case, after making due enquiries regarding the relevant
      matter.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>1.8</B> </TD>
    <TD>
      <P align=justify><B>Schedules</B></P></TD></TR></TABLE>
<P align=justify style="text-indent:5%">The following Schedules are
annexed to this Agreement and are incorporated by reference into this Agreement
and form a part hereof: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="15%"  >&nbsp;</TD>
    <TD align=left >Schedule A </TD>
    <TD align=left width="5%">- </TD>
    <TD align=left width="70%">Plan of Arrangement </TD></TR>
  <TR vAlign=top>
    <TD width="15%" >&nbsp;</TD>
    <TD align=left >Schedule B </TD>
    <TD align=left width="5%">- </TD>
    <TD align=left width="70%">Arrangement Resolution </TD></TR>
  <TR vAlign=top>
    <TD width="15%" >&nbsp;</TD>
    <TD align=left >Schedule C </TD>
    <TD align=left width="5%">- </TD>
    <TD align=left width="70%">Key Regulatory Approvals </TD></TR>
  <TR vAlign=top>
    <TD width="15%" >&nbsp;</TD>
    <TD align=left >Schedule D </TD>
    <TD align=left width="5%">- </TD>
    <TD align=left width="70%">Key Third Party Consents </TD></TR></TABLE>
<P align=center><B>ARTICLE 2 <BR>THE ARRANGEMENT
</B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>2.1</B> </TD>
    <TD>
      <P align=justify><B>Arrangement</B></P></TD></TR></TABLE>
<P align=justify style="text-indent:5%">Sunward and NovaCopper agree that
the Arrangement will be implemented in accordance with and subject to the terms
and conditions contained in this Agreement and the Plan of Arrangement. </P>
<P align=justify><B>2.2</B><B> </B><B>Interim Order </B></P>
<P align=justify style="text-indent:5%">As soon as reasonably practicable
following the execution of this Agreement, and in any event in sufficient time
to hold the Sunward Meeting in accordance with Section 2.3, Sunward shall apply
to the Court in a manner acceptable to NovaCopper, acting reasonably, pursuant
to Section 291 of the BCBCA and prepare, file and diligently pursue an
application for the Interim Order, which shall provide, among other things: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>for the class of Persons to whom notice is to be provided
      in respect of the Arrangement and the Sunward Meeting and for the manner
      in which such notice is to be provided;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>that the requisite approval for the Arrangement
      Resolution shall be the affirmative vote of (i) at least two-thirds of the
      votes cast at the Sunward Meeting in person or by proxy
  by the Sunward Shareholders voting together as one class on the
basis of one vote per Sunward Share and (ii) to the extent required by
Multilateral Instrument 61-101 &#150; <i>Protection of Minority Security Holders in
Special Transactions</i>,<i> </i>the majority of the votes cast at the Sunward
Meeting in person or by proxy by the Sunward Shareholders on the basis of one
vote per Sunward Share, excluding the votes cast in respect of Sunward Shares
held by certain interested or related parties or joint actors of Sunward in
accordance with the minority approval requirements of Multilateral Instrument
61-101<i> &#150; Protection of Minority Security Holders in Special Transactions </i>(the &#147;<b>Sunward Shareholder Approval</b>&#148;); </P></TD></TR></TABLE>
<P align=right>13 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_17></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>that, in all other respects, the terms, conditions and
      restrictions of the Sunward constating documents, including quorum
      requirements and other matters, shall apply in respect of the Sunward
      Meeting;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>for the grant of Dissent Rights only to the Sunward
      Shareholders who are registered Sunward Shareholders;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(e) </TD>
    <TD>
      <P align=justify>for the notice requirements with respect to the
      presentation of the application to the Court for the Final
Order;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(f) </TD>
    <TD>
      <P align=justify>that the Sunward Meeting may be adjourned from time to
      time by the management of Sunward with the consent of NovaCopper without
      the need for additional approval of the Court;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(g) </TD>
    <TD>
      <P align=justify>that the record date for Sunward Shareholders entitled to
      notice of and to vote at the Sunward Meeting will not change in respect of
      any adjournment(s) of the Sunward Meeting;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(h) </TD>
    <TD>
      <P align=justify>that it is NovaCopper&#146;s intention to rely upon the
      exemption from registration provided by Section 3(a)(10) of the U.S.
      Securities Act with respect to the issuance of the Consideration Shares to
      be issued pursuant to the Arrangement, based on the Court&#146;s approval of
      the Arrangement; and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>for such other matters as NovaCopper may reasonably
      require, subject to obtaining the prior consent of Sunward, such consent
      not to be unnecessarily withheld.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>2.3</B> </TD>
    <TD>
      <P align=justify><B>Sunward Meeting</B></P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 5%" align=justify>Subject to the terms of this Agreement:
</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>Sunward agrees to convene and conduct the Sunward Meeting
      in accordance with the Interim Order, Sunward&#146;s notice of articles,
      articles and applicable Law as soon as reasonably practicable, and in any
      event on or before the Meeting Deadline. Sunward and NovaCopper agree to
      use their commercially reasonable efforts to schedule the Sunward Meeting
      and NovaCopper Meeting on the same day.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>Except as required for quorum purposes or otherwise
      permitted under this Agreement, Sunward shall not adjourn (except as
      required by Law or by valid Sunward Shareholder action), postpone or
      cancel (or propose or permit the adjournment (except as required by Law or
      by valid Sunward Shareholder action), postponement or cancellation of) the
      Sunward Meeting without NovaCopper&#146;s prior
consent.</P></TD></TR></TABLE>
<P align=right>14 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_18></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>Sunward will advise NovaCopper as NovaCopper may
      reasonably request, and at least on a daily basis on each of the last five
      (5) business days prior to the date of the Sunward Meeting, as to the
      aggregate tally of the proxies received by Sunward in respect of the
      Arrangement Resolution.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>Sunward will promptly advise NovaCopper of any written
      notice of dissent or purported exercise by any Sunward Shareholder of
      Dissent Rights received by Sunward in relation to the Arrangement and any
      withdrawal of Dissent Rights received by Sunward and, subject to
      applicable Law, any written communications sent by or on behalf of Sunward
      to any Sunward Shareholder exercising or purporting to exercise Dissent
      Rights in relation to the Arrangement.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(e) </TD>
    <TD>
      <P align=justify>At the reasonable request of NovaCopper from time to
      time, Sunward shall provide NovaCopper with lists (in written and/or
      electronic form), which lists shall include names, addresses and holdings,
      of (i) the registered Sunward Shareholders, (ii) all Persons holding
      securities issued by Sunward that are convertible into, or exercisable or
      exchangeable for, Sunward Shares (including holders of Sunward Options)
      and (iii) all non-objecting beneficial owners of Sunward Shares.
      NovaCopper may from time to time request Sunward to require, and Sunward
      shall require, that the registrar and transfer agent for the Sunward
      Shares furnish NovaCopper with such additional information and other
      assistance as NovaCopper may reasonably
request.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>2.4</B> </TD>
    <TD>
      <P align=justify><B>Sunward Circular</B></P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>As promptly as reasonably practicable following execution
      of this Agreement, and in any event prior to the close of business on the
      Mailing Deadline, Sunward shall (i) prepare the Sunward Circular together
      with any other documents required by applicable Laws, (ii) file the
      Sunward Circular in all jurisdictions where the same is required to be
      filed, and (iii) mail the Sunward Circular as required under applicable
      Laws and by the Interim Order. On the date of mailing thereof, the Sunward
      Circular shall comply in all material respects with all applicable Laws
      and the Interim Order and shall contain sufficient detail to permit the
      Sunward Shareholders to form a reasoned judgment concerning the matters to
      be placed before them at the Sunward Meeting.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>In the event that Sunward provides a notice to NovaCopper
      regarding a possible Acquisition Proposal pursuant to Section 7.2(d) prior
      to the mailing of the Sunward Circular, then unless the Parties agree
      otherwise, the Mailing Deadline will be extended until the date that is
      five (5) days following the earlier of either (i) written notification
      from Sunward to NovaCopper that the Sunward Board has determined that the
      Acquisition Proposal is not a Superior Proposal, or (ii) the date on which
      Sunward and NovaCopper enter into an amended agreement pursuant to Section
      7.3(b) which results in the Acquisition Proposal in question not being a
      Superior Proposal; provided, that in no event shall the Mailing Deadline
      be extended for more than an aggregate of ten (10) days in connection with
      any such Acquisition Proposal. In the event that the Mailing Deadline is
      so extended, the Meeting Deadline shall be extended by the same number of
      days as the Mailing Deadline has been extended.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>Sunward shall ensure that the Sunward Circular complies
      in all material respects with all applicable Laws, and, without limiting
      the generality of the foregoing, that the Sunward Circular will not
      contain any untrue statement of a material fact or omit to state a
      material fact required to be stated therein or necessary to make the
      statements contained therein not misleading in light of the circumstances
      in which they are made (other than in each case with respect to any information relating solely to
NovaCopper and its affiliates, which information shall be the sole
responsibility of NovaCopper). </P></TD></TR></TABLE>
<P align=right>15 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_19></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>Subject to Article 7, Sunward shall (i) solicit proxies
      in favour of the Arrangement Resolution and against any contrary
      resolution submitted by any other Sunward Shareholder, (ii) recommend to
      Sunward Shareholders that they vote in favour of the Arrangement
      Resolution, (iii) not make a Change in Recommendation and (iv) include in
      the Sunward Circular a statement that each director and executive officer
      of Sunward intends to vote all of such Person&#146;s Sunward Shares (including
      any Sunward Shares issued upon the exercise of any Sunward Options) in
      favour of the Arrangement Resolution, subject to the other terms of this
      Agreement and the NovaCopper Voting Agreements.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(e) </TD>
    <TD>
      <P align=justify>NovaCopper will furnish to Sunward all such information
      regarding NovaCopper and its respective affiliates as may be required by
      the Interim Order or applicable Laws for inclusion in the Sunward Circular
      and in any amendments or supplements thereto or other documents related
      thereto.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(f) </TD>
    <TD>
      <P align=justify>NovaCopper and its legal counsel shall be given a
      reasonable opportunity to review and comment on the Sunward Circular prior
      to the Sunward Circular being printed, mailed to Sunward Shareholders and
      filed with the applicable Securities Authorities, and reasonable
      consideration shall be given to any comments made by NovaCopper and its
      legal counsel; provided that all information included in the Sunward
      Circular relating solely to NovaCopper and its affiliates shall be in form
      and substance satisfactory to NovaCopper, acting reasonably. Sunward shall
      provide NovaCopper with a final copy of the Sunward Circular prior to the
      mailing to the Sunward Shareholders.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(g) </TD>
    <TD>
      <P align=justify>Each Party shall promptly notify the other Party if at
      any time before the Effective Date it becomes aware that the Sunward
      Circular contains an untrue statement of a material fact or omits to state
      a material fact required to be stated therein or necessary to make the
      statements contained therein not misleading in light of the circumstances
      in which they are made, or that otherwise requires an amendment or
      supplement to the Sunward Circular, and the Parties shall co-operate in
      the preparation of any amendment or supplement to the Sunward Circular, as
      required or appropriate, and Sunward shall promptly mail or otherwise
      publicly disseminate any amendment or supplement to the Sunward Circular
      to Sunward Shareholders and, if required by the Court or applicable Laws,
      file the same with the Securities Authorities and as otherwise
      required.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>2.5</B> </TD>
    <TD>
      <P align=justify><B>NovaCopper Meeting</B></P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 5%" align=justify>Subject to the terms of this Agreement:
</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>NovaCopper agrees to convene and conduct the NovaCopper
      Meeting in accordance with NovaCopper&#146;s notice of articles and articles
      and applicable Law as soon as reasonably practicable, and in any event on
      or before the Meeting Deadline. Sunward and NovaCopper agree to use their
      commercially reasonable efforts to schedule the Sunward Meeting and
      NovaCopper Meeting on the same day.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>Except as required for quorum purposes or otherwise
      permitted under this Agreement, NovaCopper shall not adjourn (except as
      required by Law or by valid NovaCopper Shareholder action), postpone or
      cancel (or propose or permit the adjournment (except
as required by Law or by valid NovaCopper Shareholder action),
postponement or cancellation of) the NovaCopper Meeting without Sunward&#146;s prior
consent. </P></TD></TR></TABLE>
<P align=right>16 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_20></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>NovaCopper will advise Sunward as Sunward may reasonably
      request, and at least on a daily basis on each of the last five (5)
      business days prior to the date of the NovaCopper Meeting, as to the
      aggregate tally of the proxies received by NovaCopper in respect of the
      NovaCopper Shareholder Approval.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>2.6</B> </TD>
    <TD>
      <P align=justify><B>NovaCopper Circular</B></P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>As promptly as reasonably practicable following execution
      of this Agreement, and in any event prior to the close of business on the
      Filing Deadline, NovaCopper shall (i) prepare the NovaCopper Preliminary
      Circular together with any other documents required by applicable Laws,
      and (ii) file the NovaCopper Preliminary Circular with the SEC.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>As promptly as reasonably practicable following execution
      of this Agreement, and in any event prior to the close of business on the
      Mailing Deadline, NovaCopper shall (i) prepare the NovaCopper Circular
      together with any other documents required by applicable Laws, (ii) file
      the NovaCopper Circular in all jurisdictions where the same is required to
      be filed, and (iii) mail the NovaCopper Circular as required under all
      applicable Laws. On the date of mailing thereof, the NovaCopper Circular
      shall comply in all material respects with all applicable Laws and shall
      contain sufficient detail to permit the NovaCopper Shareholders to form a
      reasoned judgment concerning the matters to be placed before them at the
      NovaCopper Meeting.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>In the event that NovaCopper provides a notice to Sunward
      regarding a possible Acquisition Proposal pursuant to Section 7.2(d) prior
      to the mailing of the NovaCopper Circular, then unless the Parties agree
      otherwise, the Mailing Deadline will be extended until the date that is
      five (5) days following the earlier of either (i) written notification
      from NovaCopper to Sunward that the NovaCopper Board has determined that
      the Acquisition Proposal is not a Superior Proposal, or (ii) the date on
      which NovaCopper and Sunward enter into an amended agreement pursuant to
      Section 7.3(b) which results in the Acquisition Proposal in question not
      being a Superior Proposal; provided, that in no event shall the Mailing
      Deadline be extended for more than an aggregate of ten (10) days in
      connection with any such Acquisition Proposal. In the event that the
      Mailing Deadline is so extended, the Meeting Deadline shall be extended by
      the same number of days as the Mailing Deadline has been
  extended.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>The NovaCopper Circular shall comply in all material
      respects with all applicable Laws and, without limiting the generality of
      the foregoing, the NovaCopper Circular will not contain any untrue
      statement of a material fact or omit to state a material fact required to
      be stated therein or necessary to make the statements contained therein
      not misleading in light of the circumstances in which they are made (other
      than in each case with respect to any information relating solely to
      Sunward and its affiliates, which information shall be the sole
      responsibility of Sunward).</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(e) </TD>
    <TD>
      <P align=justify>Subject to Article 7, NovaCopper shall (i) solicit
      proxies in favour of the NovaCopper Shareholder Approval, and against any
      resolution submitted by any other NovaCopper Shareholder, (ii) recommend
      to NovaCopper Shareholders that they vote in favour of the NovaCopper
      Shareholder Approval, (iii) not make a Change in Recommendation, and (iv)
      include in the NovaCopper Circular a statement that each director and
      executive officer of NovaCopper intends to vote all of such Person&#146;s
      NovaCopper Shares (including any NovaCopper Shares issued upon the exercise of any
convertible securities of NovaCopper) in favour of the NovaCopper Shareholder
Approval, subject to the other terms of this Agreement and the Sunward Voting
Agreements. </P></TD></TR></TABLE>
<P align=right>17 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_21></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(f) </TD>
    <TD>
      <P align=justify>Sunward will furnish to NovaCopper all such information
      regarding Sunward and its respective affiliates, as may be required by
      applicable Laws for inclusion in the NovaCopper Circular and in any
      amendments or supplements thereto or other documents related
    thereto.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(g) </TD>
    <TD>
      <P align=justify>Sunward and its legal counsel shall be given a reasonable
      opportunity to review and comment on the NovaCopper Preliminary Circular
      and the NovaCopper Circular prior to the NovaCopper Circular being
      printed, mailed to NovaCopper Shareholders and filed with the Securities
      Authorities, and reasonable consideration shall be given to any comments
      made by Sunward and its counsel; provided that all information included in
      the NovaCopper Circular relating solely to Sunward and its affiliates
      shall be in form and substance satisfactory to Sunward, acting reasonably.
      NovaCopper shall provide Sunward with a final copy of the NovaCopper
      Circular prior to the mailing to the NovaCopper Shareholders.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(h) </TD>
    <TD>
      <P align=justify>Each Party shall promptly notify the other Party if at
      any time before the Effective Date it becomes aware that the NovaCopper
      Circular contains an untrue statement of a material fact or omits to state
      a material fact required to be stated therein or necessary to make the
      statements contained therein not misleading in light of the circumstances
      in which they are made, or that otherwise requires an amendment or
      supplement to the NovaCopper Circular, and the Parties shall co-operate in
      the preparation of any amendment or supplement to the NovaCopper Circular,
      as required or appropriate, and NovaCopper shall promptly mail or
      otherwise publicly disseminate any amendment or supplement to the
      NovaCopper Circular to NovaCopper Shareholders and, if required by the
      Court or applicable Laws, file the same with the Securities Authorities
      and as otherwise required.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>2.7</B> </TD>
    <TD>
      <P align=justify><B>Preparation of Filings</B></P></TD></TR></TABLE>
<P align=justify style="text-indent:5%">NovaCopper and Sunward shall
co-operate and use their reasonable commercial efforts in good faith to take, or
cause to be taken, all reasonable actions, including the preparation of any
applications for Key Regulatory Approvals and other orders, registrations,
consents, filings, rulings, exemptions, no-action letters, circulars and
approvals required in connection with this Agreement and the Arrangement and the
preparation of any required documents, in each case as reasonably necessary to
discharge their respective obligations under this Agreement, the Arrangement and
the Plan of Arrangement, and to complete any of transactions contemplated by
this Agreement, including their obligations under applicable Laws.</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>2.8</B> </TD>
    <TD>
      <P align=justify><B>Final Order</B></P></TD></TR></TABLE>
<P align=justify style="text-indent:5%">Subject to the terms of this
Agreement, if the Interim Order is obtained and the Arrangement Resolution is
passed at the Sunward Meeting, Sunward shall, as soon as reasonably practicable
thereafter and, in any event, within three (3) business days thereafter, take
all steps necessary or desirable to submit the Arrangement to the Court and
diligently pursue an application for the Final Order pursuant to section 291 of
the BCBCA. </P>
<P align=right>18 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_22></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>2.9</B> </TD>
    <TD>
      <P align=justify><B>Court Proceedings</B></P></TD></TR></TABLE>
<P align=justify style="text-indent:5%">Subject to the terms of this
Agreement, NovaCopper will cooperate with and assist Sunward in seeking the
Interim Order and the Final Order, including by providing Sunward on a timely
basis any information reasonably required to be supplied by NovaCopper in
connection therewith. The material to be filed with the Court in connection with
the Arrangement shall not be inconsistent with the provisions of this Agreement.
Sunward will provide NovaCopper and its legal counsel with reasonable
opportunity to review and comment upon drafts of all material to be filed with
the Court in connection with the Arrangement, and will give reasonable
consideration to all such comments; provided that Sunward shall include all
comments of NovaCopper and its legal counsel as are required, in the reasonable
judgment of NovaCopper and its legal counsel, to allow NovaCopper to rely upon
the exemption from registration provided by Section 3(a)(10) of the U.S.
Securities Act with respect to the issuance of the Consideration Shares and DSU
Shares to be issued pursuant to the Arrangement, based on the Court&#146;s approval
of the Arrangement. Subject to applicable Law, Sunward will not file any
material with the Court in connection with the Arrangement or serve any such
material, and will not agree to modify or amend materials so filed or served,
except as contemplated by this Section 2.9 or with NovaCopper&#146;s prior written
consent, such consent not to be unreasonably withheld, conditioned or delayed;
provided that nothing herein shall require NovaCopper to agree or consent to any
increase in Consideration or other modification or amendment to such filed or
served materials that expands or increases NovaCopper&#146;s obligations set forth in
any such filed or served materials or under this Agreement or the
Arrangement.</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>2.10</B> </TD>
    <TD>
      <P align=justify><B>Effect of the
Arrangement</B></P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>The Arrangement shall be effective at the Effective Time
      on the date that is the earlier of: (i) the date that is two (2) business
      days after the satisfaction or waiver (subject to applicable Laws) of the
      conditions set forth in Article 6 (other than the delivery of items to be
      delivered on the Effective Date and the satisfaction of those conditions
      that, by their terms, cannot be satisfied until the Effective Date) and
      (ii) such date as is mutually agreed in writing by the Parties (the
      &#147;<B>Effective Date</B>&#148;).</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>From and after the Effective Time, the Plan of
      Arrangement will have all of the effects provided by applicable Law,
      including the BCBCA. Sunward agrees to amend the Plan of Arrangement at
      any time prior to the Effective Time in accordance with Section 8.3 to
      include such other terms determined to be necessary or desirable by
      NovaCopper, provided that the Plan of Arrangement shall not be amended in
      any manner which has the effect of reducing the Consideration or which is
      otherwise prejudicial to the Sunward Shareholders or other parties to be
      bound by the Plan of Arrangement or is inconsistent with the provisions of
      this Agreement or the Interim Order or the Final Order.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>The closing of the Arrangement will take place at the
      offices of Blake, Cassels &amp; Graydon LLP, Suite 2600, 595 Burrard
      Street, Vancouver, British Columbia at 8:00 a.m. on the Effective Date, or
      at such other time and place as may be agreed to by the
  Parties.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>2.11</B> </TD>
    <TD>
      <P align=justify><B>Payment of Consideration</B></P></TD></TR></TABLE>
<P align=justify style="text-indent:5%">NovaCopper will, following
receipt by Sunward of the Final Order and prior to the Effective Time, deposit
with the Depositary in escrow sufficient NovaCopper Shares to satisfy the
Consideration payable to the Sunward Shareholders. </P>
<P align=right>19 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_23></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>2.12</B> </TD>
    <TD>
      <P align=justify><B>Announcement and Shareholder
  Communications</B></P></TD></TR></TABLE>
<P align=justify style="text-indent:5%">NovaCopper and Sunward shall
jointly publicly announce the transactions contemplated hereby promptly
following the execution of this Agreement, the text and timing of the joint
announcement to be approved by each Party in advance, acting reasonably.
NovaCopper and Sunward agree to co-operate in the preparation of presentations,
if any, to the Sunward Shareholders or the NovaCopper Shareholders regarding the
transactions contemplated by this Agreement, and no Party shall (a) issue any
press release or otherwise make public announcements with respect to this
Agreement or the Plan of Arrangement without the consent of the other Party
(which consent shall not be unreasonably withheld or delayed) or (b) make any
filing with any Governmental Entity with respect thereto without prior
consultation with the other Party; provided, however, that the foregoing shall
be subject to each Party&#146;s overriding obligation to make any disclosure or
filing required under applicable Laws or stock exchange rules, and the Party
making such disclosure shall use all commercially reasonable efforts to give
prior written notice to the other Party and reasonable opportunity to review or
comment on the disclosure or filing, and if such prior notice is not possible,
to give such notice immediately following the making of such disclosure or
filing.</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>2.13</B> </TD>
    <TD>
      <P align=justify><B>Withholding Taxes</B></P></TD></TR></TABLE>
<P align=justify style="text-indent:5%">NovaCopper, Sunward and the
Depositary shall be entitled to deduct and withhold from any consideration
payable or otherwise deliverable to any Person hereunder and from all dividends,
interest or other distributions otherwise payable to any former Sunward
Securityholder such amounts as NovaCopper, Sunward or the Depositary may be
required to deduct and withhold therefrom under any provision of applicable Laws
in respect of Taxes. To the extent that such amounts are so deducted, withheld
and remitted, such amounts shall be treated for all purposes under this
Agreement as having been paid to the Person to whom such amounts would otherwise
have been paid. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>2.14</B> </TD>
    <TD>
      <P align=justify><B>Tax Matters</B></P></TD></TR></TABLE>
<P align=justify style="text-indent:5%">Notwithstanding any
representations and covenants set forth in this Agreement, it is understood and
agreed that neither NovaCopper nor Sunward provide any assurances to any Sunward
Securityholders regarding the income tax consequences of the Arrangement to any
Sunward Securityholder. </P>
<P align=center><B>ARTICLE 3 <BR></B><B>REPRESENTATIONS AND WARRANTIES OF
SUNWARD </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>3.1</B> </TD>
    <TD>
      <P align=justify><B>Representations and
Warranties</B></P></TD></TR></TABLE>
<P align=justify style="text-indent:5%">Sunward hereby represents and
warrants to and in favour of NovaCopper as follows, except to the extent that
such representations and warranties are qualified by the Sunward Disclosure
Letter (which shall make reference to the applicable section, subsection,
paragraph or subparagraph below in respect of which such qualification is being
made), and acknowledges that NovaCopper is relying upon such representations and
warranties in connection with the entering into of this Agreement: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify><U>Board Approval</U>. As of the date hereof, the Sunward
      Board, after consultation with its financial and legal advisors, has
      determined that the Plan of Arrangement is fair to the Sunward
      Shareholders and is in the best interests of Sunward and has unanimously
      (not including two directors who have declared their interest and
      abstained) resolved to recommend to the Sunward Shareholders that they
      vote in favour of the Arrangement Resolution. The Sunward Board has
      approved the Arrangement pursuant to the Plan of Arrangement and the
      execution and performance of this Agreement.</P></TD></TR></TABLE>
<P align=right>20 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify><U>Fairness Opinion</U>. The Sunward Board has received
      oral confirmation that it will receive the written opinion of Cormark
      Securities Inc., to the effect that, as of the date of such opinion,
      subject to the assumptions and limitations set out therein, the
      Consideration to be received by Sunward Shareholders in connection with
      the Arrangement is fair, from a financial point of view, to such Sunward
      Shareholders, and such written fairness opinion is to be included in the
      Sunward Circular.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify><U>Organization and Qualification</U>. Sunward and each
      of its subsidiaries is a corporation duly incorporated or an entity duly
      created and validly existing under all applicable Laws of its jurisdiction
      of incorporation, continuance or creation and has all necessary corporate
      or other power, authority and capacity to own its property and assets as
      now owned and to carry on its business as it is now being conducted.
      Sunward and each of its subsidiaries:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>has all Permits necessary to conduct its business
      substantially as now conducted as disclosed in the Sunward Public
      Disclosure Record, except where the failure to hold such Permits would not
      individually or in the aggregate have a Material Adverse Effect;
  and</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>is duly registered or otherwise authorized and qualified
      to do business and each is in good standing in each jurisdiction in which
      the character of its properties, owned, leased, licensed or otherwise
      held, or the nature of its activities makes such qualification necessary,
      except where the failure to be so qualified will not individually or in
      the aggregate have a Material Adverse Effect.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify><U>Authority Relative to this Agreement</U>. Sunward has
      the requisite corporate power, authority and capacity to enter into this
      Agreement and to perform its obligations hereunder. The execution and
      delivery of this Agreement by Sunward and the performance by Sunward of
      its obligations under this Agreement have been duly authorized by the
      Sunward Board and no other corporate proceedings on its part are necessary
      to authorize this Agreement or the Arrangement pursuant to the Plan of
      Arrangement other than the Sunward Shareholder Approval. This Agreement
      has been duly executed and delivered by Sunward and constitutes a legal,
      valid and binding obligation of Sunward, enforceable against Sunward in
      accordance with its terms, subject to the qualification that such
      enforceability may be limited by bankruptcy, insolvency, reorganization or
      other applicable Laws relating to or affecting rights of creditors
      generally and subject to the qualification that equitable remedies,
      including specific performance, are discretionary.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(e) </TD>
    <TD>
      <P align=justify><U>No Violation</U>. The authorization, execution and
      delivery of this Agreement by Sunward, the completion of the transactions
      contemplated by this Agreement and the Arrangement pursuant to the Plan of
      Arrangement and the performance of Sunward&#146;s obligations hereunder or
      thereunder in accordance with the terms hereof and thereof will
  not:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>violate, conflict with, or result (with or without notice
      or the passage of time) in a violation or breach of any provision of, or
      require, except in respect of the Key Third-Party Consents (which are the
      only consents, approvals and notices required from any third-party under
      any Contracts of Sunward or any of its subsidiaries in order for Sunward
      and its subsidiaries to proceed with the execution and delivery of this
      Agreement and the completion of the transactions contemplated by this
      Agreement and the Plan of Arrangement), any consent, approval or notice
      under, or constitute a default (or an event which, with
  notice or lapse of time or both, would constitute a default) or result
in a right of termination or acceleration under, or cause any indebtedness to
come due before its stated maturity, or cause any credit commitment to cease to
be available, or cause any payment or other obligation to be imposed on Sunward
or any of its subsidiaries, under any of the terms, conditions or provisions
of:</P></TD></TR></TABLE>
<P align=right>21 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="15%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(A) </TD>
    <TD>
      <P align=justify>their respective articles, charters or by-laws or other
      comparable organizational documents; or</P></TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(B) </TD>
    <TD>
      <P align=justify>any Permit or material Contract to which Sunward or any
      of its subsidiaries is a party or to which any of them, or any of their
      respective properties or assets, may be subject or by which Sunward or any
      of its subsidiaries is bound; or</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>subject to obtaining the Key Regulatory
  Approvals,</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="15%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(A) </TD>
    <TD>
      <P align=justify>result (with or without notice or the passage of time) in
      a violation or breach of or constitute a default under any provisions of
      any Laws applicable to Sunward or any of its subsidiaries or any of their
      respective properties or assets; or</P></TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(B) </TD>
    <TD>
      <P align=justify>cause the suspension or revocation of any Permit
      currently in effect in regard of Sunward or any of its
  subsidiaries;</P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 10%" align=justify>(except, in the case of each of
clauses (i) and (ii) above, for such violations, conflicts, breaches, defaults,
terminations, accelerations or any consents (expressly excluding clause (i)(A),
the Key Third-Party Consents and Key Regulatory Approvals), approvals or notices
which if not given or received, would not, individually or in the aggregate,
reasonably be expected to have any Material Adverse Effect);</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD>
      <P align=justify>give rise to any rights of first refusal or trigger any
      change in control provisions under any note, bond, mortgage, indenture,
      contract, license, franchise or Permit to which Sunward is a party;
    or</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iv) </TD>
    <TD>
      <P align=justify>result in the imposition of any Liens upon any assets of
      Sunward or the assets of any of its
subsidiaries.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(f) </TD>
    <TD>
      <P align=justify><U>Capitalization</U>. The authorized share capital of
      Sunward consists of an unlimited number of Sunward Shares and an unlimited
      number of preference shares. As of the close of business on April 22,
      2015, there are issued and outstanding 142,327,338 Sunward Shares and no
      preference shares. As of the close of business on April 22, 2015, an
      aggregate of up to 8,560,000 Sunward Shares are issuable upon the exercise
      of 8,560,000 Sunward Options, an aggregate of up to 1,270,038 Sunward
      Shares are issuable upon the vesting and payment of 1,270,038 deferred
      share units (the &#147;<B>Sunward DSUs</B>&#148;) outstanding and there are no
      options (other than the Sunward Options), warrants, conversion privileges
      or other rights, shareholder rights plans, agreements, arrangements or
      commitments (pre-emptive, contingent or otherwise) of any character
      whatsoever requiring or which may require the issuance, sale or transfer
      by Sunward of any securities of Sunward (including Sunward Shares), or any
      securities (other than Sunward DSUs) or obligations convertible into, or
      exchangeable or exercisable for, or otherwise evidencing a right or
      obligation to acquire, any securities of Sunward (including Sunward
      Shares) or of any subsidiary of Sunward. Other than the Sunward Shares,
      the Sunward Options and Sunward DSUs, there are no securities of Sunward outstanding.
Schedule 3.1(f) of the Sunward Disclosure Letter sets forth an accurate and
complete list of all grants of Sunward Options and Sunward DSUs, including as
applicable, the respective holders, grant dates, number of Sunward Options and
Sunward DSUs granted, vesting dates and exercise prices. All outstanding Sunward
Shares have been duly authorized and validly issued, are fully paid and
non-assessable, and all Sunward Shares issuable upon the exercise of Sunward
Options or vesting of Sunward DSU&#146;s in accordance with their respective terms
have been duly authorized and, upon issuance, will be validly issued as fully
paid and non-assessable, and are not and will not be subject to, or issued in
violation of, any pre-emptive rights. All securities of Sunward (including the
Sunward Shares, the Sunward Options and Sunward DSUs) have been issued in
compliance with all applicable Laws. Other than the Sunward Shares, the Sunward
Options and Sunward DSUs, as applicable, there are no securities of Sunward or
of any of its subsidiaries outstanding which have the right to vote generally
(or are convertible into or exchangeable for securities having the right to vote
generally) with the Sunward Shareholders on any matter. There are no outstanding
contractual or other obligations of Sunward or any subsidiary to repurchase,
redeem or otherwise acquire any of its securities or with respect to the voting
or disposition of any of its outstanding securities. There are no outstanding
bonds, debentures or other evidences of indebtedness of Sunward or any of its
subsidiaries having the right to vote with the holders of the outstanding
Sunward Shares on any matters.</P></TD></TR></TABLE>
<P align=right>22 </P>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(g) </TD>
    <TD>
      <P align=justify><U>Reporting Status and Securities Laws Matters</U>.
      Sunward is a &#147;reporting issuer&#148; and not on the list of reporting issuers
      in default under applicable Canadian provincial Securities Laws in British
      Columbia, Alberta and Ontario. No delisting, suspension of trading in or
      cease trading order with respect to any securities of Sunward and to the
      knowledge of Sunward, no inquiry or investigation (formal or informal) of
      any Securities Authority or the SEC, is in effect or ongoing or, to the
      knowledge of Sunward, expected to be implemented or undertaken.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(h) </TD>
    <TD>
      <P align=justify><U>Ownership of Subsidiaries</U>. Schedule 3.1(h) of the
      Sunward Disclosure Letter includes complete and accurate lists of all
      subsidiaries owned, directly or indirectly, by Sunward, each of which is
      wholly-owned other than as disclosed in Schedule 3.1(h) of the Sunward
      Disclosure Letter. All of the issued and outstanding shares of capital
      stock and other ownership interests in the subsidiaries of Sunward are
      duly authorized, validly issued, fully paid and non-assessable, and all
      such shares and other ownership interests held directly or indirectly by
      Sunward are legally and beneficially owned free and clear of all Liens,
      and there are no outstanding options, warrants, rights, entitlements,
      understandings or commitments (contingent or otherwise) regarding the
      right to purchase or acquire, or securities convertible into or
      exchangeable for, any such shares of capital stock or other ownership
      interests in or material assets or properties of any of the subsidiaries
      of Sunward, except as disclosed in Schedule 3.1(h) of the Sunward
      Disclosure Letter. There are no contracts, commitments, agreements,
      understandings, arrangements or restrictions which require any
      subsidiaries of Sunward to issue, sell or deliver any shares in its share
      capital or other ownership interests, or any securities or obligations
      convertible into or exchangeable for, any shares of its share capital or
      other ownership interests. Except as otherwise disclosed in Schedule
      3.1(h) of the Sunward Disclosure Letter there are no outstanding options,
      rights, entitlements, understandings or commitments (contingent or
      otherwise) providing to any third-party the right to acquire any shares or
      other ownership interests in any subsidiaries of
Sunward.</P></TD></TR></TABLE>
<P align=right>23 </P>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify><U>Public Filings</U>. Sunward has filed all documents
      required to be filed by it in accordance with applicable Securities Laws
      in Canada. Sunward has filed all necessary documents and information
      required to be filed with the Securities Authorities and the TSX. All such
      documents and information comprising the Sunward Public Disclosure Record,
      as of their respective dates (and the dates of any amendments
    thereto):</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>did not contain any untrue statement of a material fact
      or omit to state a material fact required to be stated therein or
      necessary to make the statements therein, in light of the circumstances in
      which they were made, not misleading; and</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>complied in all material respects with the requirements
      of applicable Securities Laws in Canada, and any amendments to the Sunward
      Public Disclosure Record required to be made have been filed on a timely
      basis with the Securities Authorities or the TSX. Sunward has not filed
      any confidential material change report with any Securities Authorities
      that at the date of this Agreement remains
confidential.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(j) </TD>
    <TD>
      <P align=justify><U>Sunward Financial Statements</U>. Sunward&#146;s audited
      financial statements as at and for the fiscal years ended March 31, 2014
      and 2013 and Sunward&#146;s management&#146;s discussion and analysis of results of
      operations and financial condition (the &#147;<B>MD&amp;A</B>&#148;) for the
      corresponding periods and unaudited financial statements as at and for the
      three and nine months ended December 31, 2014 and 2013 (including the
      notes thereto) and Sunward&#146;s MD&amp;A for the corresponding periods
      (collectively, the &#147;<B>Sunward Financial Statements</B>&#148;) were prepared in
      accordance with IFRS consistently applied (except as otherwise indicated
      in such financial statements and the notes thereto or in the related
      report of Sunward&#146;s independent auditors, and except that the unaudited
      Sunward Financial Statements may not contain footnotes and are subject to
      normal year-end adjustments, none of which individually or in the
      aggregate will be material in nature or amount) and fairly present in all
      material respects the consolidated financial position, results of
      operations and changes in financial position of Sunward and its
      subsidiaries as of the dates thereof and for the periods indicated therein
      and reflect reserves required by IFRS in respect of all material
      contingent liabilities, if any, of Sunward and its subsidiaries on a
      consolidated basis. There has been no material change in Sunward&#146;s
      accounting policies, except as described in the notes to the Sunward
      Financial Statements, since March 31, 2014.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(k) </TD>
    <TD>
      <P align=justify><U>Internal Controls and Financial Reporting</U>. Sunward
      has designed and implemented disclosure controls and procedures to provide
      reasonable assurance that material information relating to Sunward,
      including its consolidated subsidiaries, is made known to the Chief
      Executive Officer and the Chief Financial Officer of Sunward by others
      within those entities, as appropriate to allow timely decisions regarding
      required disclosure, particularly during the periods in which filings are
      being prepared. Sunward has disclosed, based on the most recent evaluation
      of its Chief Executive Officer and its Chief Financial Officer prior to
      the date hereof, to Sunward&#146;s auditors and the audit committee of the
      Sunward Board:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>any significant deficiencies in the design or operation
      of its internal controls over financial reporting that are reasonably
      likely to adversely affect Sunward&#146;s ability to record, process, summarize
      and report financial information and has identified for Sunward&#146;s auditors
      and the Sunward Board any material weaknesses in internal control over
      financial reporting; and</P></TD></TR></TABLE>
<P align=right>24 </P>
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noShade SIZE=5>
<!--$$/page=--><A name=page_28></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>any fraud, whether or not material, that involves
      management or other employees who have a significant role in Sunward&#146;s
      internal control over financial reporting.</P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 10%" align=justify>To the knowledge of Sunward, as at
December 31, 2014, there were no changes in internal controls that occurred
during the period beginning on April 1, 2014 and ended on December 31, 2014 that
has materially affected, or is reasonably likely to materially affect Sunward&#146;s
internal controls, and as of the date hereof, nothing has come to the attention
of Sunward that has caused Sunward to believe that there are any material
weaknesses or significant deficiencies in such internal controls.</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(l) </TD>
    <TD>
      <P align=justify><U>Books and Records</U>. The financial books, records
      and accounts of Sunward and its subsidiaries (during the period of time
      when owned by Sunward), in all material
respects:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>have been maintained in accordance with good business
      practices and in accordance with IFRS and with the accounting principles
      generally accepted in the country of domicile of each such entity, on a
      basis consistent with prior years;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>in each case are stated in reasonable detail and
      accurately and fairly reflect the material transactions and dispositions
      of the assets of Sunward and its subsidiaries; and</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD>
      <P align=justify>accurately and fairly reflect the basis for the Sunward
      Financial Statements.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(m) </TD>
    <TD>
      <P align=justify><U>Minute Books</U>. The minute books of each of Sunward
      and its subsidiaries, which have been provided to NovaCopper prior to the
      date hereof, are true and correct in all material respects, and contain
      the minutes of all meetings of the boards of directors, committees of the
      boards and shareholders and all resolutions passed by the boards of
      directors, committees of the boards and the shareholders.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(n) </TD>
    <TD>
      <P align=justify><U>No Undisclosed Liabilities</U>. Sunward and its
      subsidiaries have no outstanding indebtedness or liabilities and none is a
      party to or bound by any surety-ship, guarantee, indemnification or
      assumption agreement, or endorsement of, or any other similar commitment
      with respect to the obligations, liabilities or indebtedness of any
      Person, other than those specifically identified in the Sunward Public
      Disclosure Record or incurred in the ordinary course of business since
      March 31, 2014.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(o) </TD>
    <TD>
      <P align=justify><U>No Material Change</U>. Since March 31, 2014, there
      has been no material change in respect of Sunward and its subsidiaries
      taken as a whole, and the debt, business and material property of Sunward
      and its subsidiaries conform in all respects to the description thereof
      contained in the Sunward Public Disclosure Record, and there has been no
      dividend or distribution of any kind declared, paid or made by Sunward on
      any Sunward Shares.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(p) </TD>
    <TD>
      <P align=justify><U>Litigation</U>. Except as set out in Schedule 3.1(p)
      of the Sunward Disclosure Letter, there are no claims, actions, suits,
      grievances, complaints or proceedings pending or, to the knowledge of
      Sunward, threatened affecting Sunward or any of its subsidiaries or
      affecting any of their respective property or assets at law or in equity
      before or by any non-governmental organization, community, community
      group, aboriginal peoples or aboriginal group or any Governmental Entity,
      including matters arising under Environmental Laws. Neither Sunward nor
      any of its subsidiaries nor their respective assets or properties is
      subject to any outstanding judgment, order, writ, injunction or
    decree.</P></TD></TR></TABLE>
<P align=right>25 </P>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(q) </TD>
    <TD>
      <P align=justify><U>Taxes</U>. Except as disclosed in Schedule 3.1(q) of
      the Sunward Disclosure Letter,</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>Sunward and each of its subsidiaries has duly and timely
      filed all Returns required to be filed by it prior to the date hereof,
      other than those which have been administratively waived, and all such
      Returns are complete and correct in all material respects.</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>Sunward and each of its subsidiaries has paid on a timely
      basis all Taxes which are due and payable, all assessments and
      reassessments, other than those which are being or have been contested in
      good faith and in respect of which reserves have been provided in the most
      recently published Sunward Financial Statements.</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD>
      <P align=justify>Except as provided for in the Sunward Financial
      Statements, no material deficiencies, litigation, proposed adjustments or
      matters in controversy exist or have been asserted with respect to Taxes
      of Sunward or any of its subsidiaries, and neither Sunward nor any of its
      subsidiaries is a party to any action or proceeding for assessment or
      collection of Taxes and no such event has been asserted or, to the
      knowledge of Sunward, threatened against Sunward or any of its
      subsidiaries or any of their respective assets, that would reasonably be
      expected to have a Material Adverse Effect.</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iv) </TD>
    <TD>
      <P align=justify>No claim has been made by any Governmental Entity in a
      jurisdiction where Sunward or any of its subsidiaries does not file
      Returns that Sunward or any of its subsidiaries is or may be subject to
      Tax by that jurisdiction.</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(v) </TD>
    <TD>
      <P align=justify>There are no Liens for unpaid Taxes (other than in
      respect of Taxes not yet due and payable and for which adequate accruals
      or reserves have been established in accordance with IFRS) upon any of the
      assets of Sunward or any of its subsidiaries.</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(vi) </TD>
    <TD>
      <P align=justify>Sunward and each of its subsidiaries has withheld or
      collected all amounts required to be withheld or collected by it on
      account of Taxes and has remitted all such amounts to the appropriate
      Governmental Entity when required by Law to do so, except where the
      failure to do so would not, individually or in the aggregate, result in a
      Material Adverse Effect.</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(vii) </TD>
    <TD>
      <P align=justify>There are no outstanding agreements extending or waiving
      the statutory period of limitations applicable to any claim for, or the
      period for the collection or assessment or reassessment of, Taxes due from
      Sunward or any of its subsidiaries for any taxable period and no request
      for any such waiver or extension is currently pending.</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(viii) </TD>
    <TD>
      <P align=justify>Sunward and each of its subsidiaries have given to
      NovaCopper true, correct and complete copies of all their income and
      capital tax returns and statements of deficiencies for taxable periods, or
      transactions consummated, for which the applicable statutory periods of
      limitations have not expired, and there are no material omissions in the
      foregoing.</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ix) </TD>
    <TD>
      <P align=justify>The Sunward Shares are listed on a &#147;recognized stock
      exchange&#148; as defined by the Tax Act.</P></TD></TR></TABLE>
<P align=right>26 </P>
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noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(x) </TD>
    <TD>
      <P align=justify>For the purposes of the Tax Act and any other relevant
      Tax purposes:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="15%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(A) </TD>
    <TD>
      <P align=justify>Sunward is resident in Canada; and</P></TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(B) </TD>
    <TD>
      <P align=justify>each subsidiary of Sunward is resident in the
      jurisdiction in which it is formed and is not resident in nor has a
      permanent establishment for tax purposes in any other
  country.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(r) </TD>
    <TD>
      <P align=justify><U>Interest in Properties and Mineral
  Rights</U>.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>All of Sunward&#146;s and its subsidiaries&#146; material real
      properties, including all real property relating to the Titribi Project
      (collectively, the &#147;<B>Sunward Properties</B>&#148;) and all of Sunward&#146;s and
      its subsidiaries&#146; material mineral interests and rights (including any
      material claims, concessions, exploration licences, exploitation licences,
      prospecting permits, mining leases and mining rights, in each case, either
      existing under contract, by operation of Law or otherwise), including all
      such interests and rights relating to the Titribi Project (collectively,
      the &#147;<B>Sunward Mineral Rights</B>&#148;), are set out in Schedule 3.1(r)(i) of
      the Sunward Disclosure Letter. Other than the Sunward Properties and the
      Sunward Mineral Rights set out in Schedule 3.1(r)(i) of the Sunward
      Disclosure Letter, neither Sunward nor its subsidiaries, owns or has any
      interest in any material real property or any material mineral interests
      and rights.</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>Sunward or one of its subsidiaries is the sole legal and
      beneficial owner of all right, title and interest in and to the Sunward
      Properties and the Sunward Mineral Rights, free and clear of any Liens
      (other than Permitted Liens).</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD>
      <P align=justify>All of the Sunward Mineral Rights have been properly
      located and recorded in compliance with applicable Law and are comprised
      of valid and subsisting mineral claims.</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iv) </TD>
    <TD>
      <P align=justify>The Sunward Properties and the Sunward Mineral Rights are
      in good standing under applicable Law and, to the knowledge of Sunward,
      all work required to be performed and filed in respect thereof has been
      performed and filed, all Taxes, rentals, fees, expenditures and other
      payments in respect thereof have been paid or incurred and all filings in
      respect thereof have been made.</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(v) </TD>
    <TD>
      <P align=justify>There is no material adverse claim against or challenge
      to the title to or ownership of the Sunward Properties or any of the
      Sunward Mineral Rights.</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(vi) </TD>
    <TD>
      <P align=justify>Schedule 3.1(r) of the Sunward Disclosure Letter sets
      forth all interests in the Sunward Properties or any of the Sunward
      Mineral Rights, or the production or profits therefrom, or any royalty in
      respect thereof or any right to acquire any such interest, in each case
      held by any Person other than Sunward or its subsidiaries.</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(vii) </TD>
    <TD>
      <P align=justify>There are no back-in rights, earn-in rights, rights of
      first refusal or similar provisions or rights which would affect Sunward&#146;s
      or its subsidiary&#146;s interest in the Sunward Properties or any of the
      Sunward Mineral Rights.</P></TD></TR></TABLE>
<P align=right>27 </P>
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noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(viii) </TD>
    <TD>
      <P align=justify>There are no material restrictions on the ability of
      Sunward and its subsidiaries to use, transfer or exploit the Sunward
      Properties or any of the Sunward Mineral Rights, except pursuant to
      applicable Law.</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ix) </TD>
    <TD>
      <P align=justify>Neither Sunward nor any of its subsidiaries has received
      any notice, whether written or oral, from any non-governmental
      organization, community, community group, aboriginal peoples or aboriginal
      group or any Governmental Entity of any revocation or intention to revoke
      any interest of Sunward or any of its subsidiaries in any of the Sunward
      Properties or any of the Sunward Mineral Rights.</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(x) </TD>
    <TD>
      <P align=justify>Sunward and/or its subsidiaries have all surface rights,
      including fee simple estates, leases, easements, rights of way and permits
      or licences from landowners, any non-governmental organization, community,
      community group, aboriginal peoples or aboriginal group or Governmental
      Entities permitting the use of land by Sunward and/or its subsidiaries,
      and mineral interests that are required to undertake activities as
      presently contemplated on the Sunward Properties.</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(xi) </TD>
    <TD>
      <P align=justify>All Contracts entered into by Sunward and/or its
      subsidiaries with any non- governmental organization, community, community
      group, aboriginal peoples or aboriginal group (&#147;<B>Sunward Aboriginal
      Contracts</B>&#148;), whether oral or written, are in full force and effect and
      Sunward and its subsidiaries have complied in all material respects with
      all terms of such Sunward Aboriginal Contracts, have paid all amounts due
      thereunder, have not waived any rights thereunder and no default or breach
      exists in respect thereof on the part of Sunward or any of its
      subsidiaries or, to the knowledge of Sunward, on the part of any other
      party thereto, and no event has occurred which, after the giving of notice
      or the lapse of time or both, would constitute such a material default or
      breach or trigger a right of termination of any of the Sunward Aboriginal
      Contracts. As at the date hereof, neither Sunward nor any of its
      subsidiaries has received written notice that any party to a Sunward
      Aboriginal Contract intends to cancel, terminate or otherwise modify or
      not renew such Sunward Aboriginal Contract, and no such action has been
      threatened.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(s) </TD>
    <TD>
      <P align=justify><U>Contracts</U>. Schedule 3.1(s) of the Sunward
      Disclosure Letter includes a complete and accurate list of all material
      Contracts to which Sunward or any of its subsidiaries is a party. All
      material Contracts are in full force and effect, and Sunward or its
      subsidiaries are entitled to all rights and benefits thereunder in
      accordance with the terms thereof. Sunward has made available to
      NovaCopper for inspection true and completed copies of all material
      Contracts, and all such material Contracts have been provided to
      NovaCopper pursuant to its due diligence requests. All of the material
      Contracts are valid and binding obligations of Sunward or its
      subsidiaries, as the case may be, enforceable in accordance with their
      respective terms, except as may be limited by bankruptcy, insolvency and
      other laws affecting the enforcement of creditors&#146; rights generally and
      subject to the qualification that equitable remedies may only be granted
      in the discretion of a court of competent jurisdiction. Sunward and its
      subsidiaries have complied in all material respects with all terms of such
      material Contracts, have paid all amounts due thereunder, have not waived
      any rights thereunder and no material default or breach exists in respect
      thereof on the part of Sunward or any of its subsidiaries or, to the
      knowledge of Sunward, on the part of any other party thereto, and no event
      has occurred which, after the giving of notice or the lapse of time or
      both, would constitute such a material default or
breach or trigger a right of termination of any of the material
Contracts. As at the date hereof, neither Sunward nor any of its subsidiaries
has received written notice that any party to a material Contract intends to
cancel, terminate or otherwise modify or not renew such material Contract, and
to the knowledge of Sunward, no such action has been threatened. Neither Sunward
nor any of its subsidiaries is a party to any material Contract that contains
any non-competition obligation or otherwise restricts in any material way the
business of Sunward or any of its subsidiaries. </P></TD></TR></TABLE>
<P align=right>28 </P>
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noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(t) </TD>
    <TD>
      <P align=justify><U>Permits</U>. Sunward and each of its subsidiaries has
      obtained and is in compliance with all Permits required by applicable Laws
      that are necessary to conduct its current business as it is now being
      conducted (which, for greater certainty, includes the exploration for
      mineral deposits), except where the failure to hold or comply with such
      Permits would not, individually or in the aggregate, have a Material
      Adverse Effect.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(u) </TD>
    <TD>
      <P align=justify><U>Environmental Matters</U>. Except for any matters
      that, individually or in the aggregate would not have or would not
      reasonably be expected to have a Material Adverse Effect, each of Sunward
      and its subsidiaries and their respective businesses, operations, and
      properties:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>is in material compliance with all Environmental Laws and
      all terms and conditions of all Environmental Permits;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>has not received any order, request or notice from any
      Person alleging a material violation of any Environmental Law;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD>
      <P align=justify>is not a party to any litigation or administrative
      proceeding, nor to the knowledge of Sunward is any litigation or
      administrative proceeding threatened against it or its property or assets,
      which in either case asserts or alleges that it violated any Environmental
      Laws, is required to clean up, remove or take remedial or other response
      action due to the Release of any Hazardous Substances, or is required to
      pay all or a portion of the cost of any past, present or future cleanup,
      removal or remedial or other response action which arises out of or is
      related to the Release of any Hazardous Substances;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iv) </TD>
    <TD>
      <P align=justify>has no knowledge of any conditions existing currently
      which could reasonably be expected to subject it to damages, penalties,
      injunctive relief or cleanup costs under any Environmental Laws or which
      require or are likely to require cleanup, removal, remedial action or
      other response by it pursuant to applicable Environmental Laws;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(v) </TD>
    <TD>
      <P align=justify>is not subject to any judgment, decree, order or citation
      related to or arising out of applicable Environmental Law and has not been
      named or listed as a potentially responsible party by any Governmental
      Entity in a matter arising under any Environmental Laws; and</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(vi) </TD>
    <TD>
      <P align=justify>is not involved in operations and does not know of any
      facts, circumstances or conditions, including any Release of any Hazardous
      Substance, that would reasonably be expected to result in any
      Environmental Liabilities.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(v) </TD>
    <TD>
      <P align=justify><U>Mineral Resources</U>. The most recent estimates of
      indicated, measured and inferred mineral resources disclosed in the
      Sunward Public Disclosure Record have been prepared and disclosed in all
      material respects in accordance with NI 43-101. The
  information provided by Sunward to the Qualified Persons (as defined in NI
43-101) in connection with the preparation of such estimates was complete and
accurate in all material respects at the time such information was furnished. No
material mineral deposits are subject to illegal occupation. There are no
material outstanding unresolved comments of any Securities Authorities in
respect of Sunward&#146;s disclosure in the Sunward Public Disclosure Record. There
has been no material reduction in the aggregate amount of estimated mineral
resources of Sunward and its subsidiaries, on a consolidated basis, from the
amounts disclosed in the Sunward Public Disclosure Record. </P></TD></TR></TABLE>
<P align=right>29 </P>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(w) </TD>
    <TD>
      <P align=justify><U>Regulatory</U>.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>Sunward and its subsidiaries have operated and are
      currently operating in material compliance with all applicable Laws,
      including all applicable rules, regulations, guidelines and policies of
      any Regulatory Authorities; and</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>Sunward and its subsidiaries have operated and are
      currently operating their respective businesses in compliance with all
      licenses, permits, authorizations, approvals, registrations and consents
      of the Regulatory Authorities (the &#147;<B>Regulatory Authorizations</B>&#148;) in
      all material respects and have made all requisite material declarations
      and filings with the Regulatory Authorities. Sunward and its subsidiaries
      have not received any written notices or other correspondence from the
      Regulatory Authorities regarding any circumstances that have existed or
      currently exist which would lead to a loss, suspension, or modification
      of, or a refusal to issue, any material Regulatory Authorization relating
      to its activities which would reasonably be expected to restrict, curtail,
      limit or adversely affect the ability of Sunward or its subsidiaries to
      operate their respective businesses.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(x) </TD>
    <TD>
      <P align=justify><U>Employee Benefits</U>.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>Sunward and each of its subsidiaries has complied, in all
      material respects, with the terms of all agreements, health, welfare,
      supplemental unemployment benefit, bonus, incentive, profit sharing,
      deferred compensation, stock purchase, stock compensation, stock option,
      disability, pension or retirement plans and other employee compensation or
      benefit plans, policies, arrangements, practices or undertakings, whether
      oral or written, formal or informal, funded or unfunded, insured or
      uninsured which are maintained by or binding upon Sunward or such
      subsidiary or in respect of which Sunward or any of its subsidiaries has
      any actual or potential liability (collectively, the &#147;<B>Sunward Benefit
      Plans</B>&#148;) and with all applicable Laws and collective bargaining
      agreements relating thereto.</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>Schedule 3.1(x) of the Sunward Disclosure Letter sets
      forth a complete list of the Sunward Benefit
Plans.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(y) </TD>
    <TD>
      <P align=justify><U>Labour and Employment</U>.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>Schedule 3.1(y) of the Sunward Disclosure Letter sets
      forth a complete list of all employees of Sunward and its subsidiaries,
      together with their titles, service dates and material terms of
      employment, including current wages, salaries or hourly rate of pay, and
      bonus (whether monetary or otherwise). No such employee is on long-term
      disability leave, extended absence or worker&#146;s compensation leave. All
      current assessments under applicable workers compensation legislation in relation to the employees listed in
Schedule 3.1(y) of the Sunward Disclosure Letter have been paid or accrued by
Sunward and its subsidiaries, as applicable, and Sunward and its subsidiaries
are not subject to any special or penalty assessment under such legislation
which has not been paid. </P></TD></TR></TABLE>
<P align=right>30 </P>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>Except for those written employment contracts with
      employees of Sunward and any of its subsidiaries identified in Schedule
      3.1(y) of the Sunward Disclosure Letter, there are no written contracts of
      employment entered into with any such employees. Except for those
      agreements or provisions described in Schedule 3.1(y) of the Sunward
      Disclosure Letter, no employee of Sunward or of any of its subsidiaries is
      party to a change of control, severance, termination, golden parachute or
      similar agreement or provision or would receive payments under such
      agreement or provision as a result of the Arrangement.</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD>
      <P align=justify>Neither Sunward nor any subsidiary is party to any
      collective bargaining agreement, contract or legally binding commitment to
      any trade unions or employee organization or group. There are no
      threatened or apparent union organizing activities involving employees of
      Sunward or any of its subsidiaries, nor is Sunward or any of its
      subsidiaries currently negotiating any collective bargaining
      agreements.</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iv) </TD>
    <TD>
      <P align=justify>Schedule 3.1(y) of the Sunward Disclosure Letter sets
      forth a complete list of the consulting and third-party contractor
      agreements, including drilling contractors, between Sunward or any of its
      subsidiaries. There are no material defaults or violations by Sunward or
      any of its subsidiaries under any such agreements listed in Schedule
      3.1(y) of the Sunward Disclosure Letter, and there are no material claims
      or proceedings, or to the knowledge of Sunward, threatened material claims
      or proceedings of any kind from any such third-party
  contractors.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(z) </TD>
    <TD>
      <P align=justify><U>Compliance with Laws</U>. Sunward and its subsidiaries
      have complied with and are not in violation of any applicable Laws, other
      than non-compliance or violations which would not, individually or in the
      aggregate, have a Material Adverse Effect.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(aa) </TD>
    <TD>
      <P align=justify><U>Absence of Cease Trade Orders</U>. No order ceasing or
      suspending trading in the Sunward Shares (or any of them) or any other
      securities of Sunward is outstanding and no proceedings for this purpose
      have been instituted or, to the knowledge of Sunward, are pending,
      contemplated or threatened.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(bb) </TD>
    <TD>
      <P align=justify><U>Related Party Transactions</U>. Other than as set out
      in Schedule 3.1(bb) to the Sunward Disclosure Letter, there are no
      Contracts or other transactions currently in place between Sunward or any
      of its subsidiaries and:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>any officer or director of Sunward or any of its
      subsidiaries;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>any holder of record or beneficial owner of 10% or more
      of the Sunward Shares; and</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD>
      <P align=justify>to the knowledge of Sunward, any affiliate or associate
      of any such officer, director, holder of record or beneficial
  owner.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(cc) </TD>
    <TD>
      <P align=justify><U>Expropriation</U>. No part of the property or assets
      of Sunward or any of its subsidiaries has been taken, condemned or
      expropriated by any Governmental Entity nor has any
  written notice or proceeding in respect thereof been given or commenced
nor does Sunward or any of its subsidiaries know of any intent or proposal to
give such notice or commence any such proceedings. </P></TD></TR></TABLE>
<P align=right>31 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_35></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(dd) </TD>
    <TD>
      <P align=justify><U>Registration Rights</U>. No Sunward Shareholder has
      any right to compel Sunward to register or otherwise qualify the Sunward
      Shares (or any of them) for public sale or distribution.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ee) </TD>
    <TD>
      <P align=justify><U>Rights of Other Persons</U>. No Person has any right
      of first refusal or option to purchase or any other right of participation
      in any of the material properties or assets owned by Sunward or any of its
      subsidiaries, or any part thereof.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ff) </TD>
    <TD>
      <P align=justify><U>Restrictions on Business Activities</U>. There is no
      arbitral award, judgment, injunction, constitutional ruling, order or
      decree binding upon Sunward or any of its subsidiaries that has or could
      reasonably be expected to have the effect of prohibiting, restricting, or
      impairing any business practice of any of them, any acquisition or
      disposition of property by any of them, or the conduct of the business by
      any of them as currently conducted, which could reasonably be expected to
      have a Material Adverse Effect.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(gg) </TD>
    <TD>
      <P align=justify><U>Brokers</U>. Except for Cormark Securities Inc. (the
      &#147;<B>Sunward Financial Advisor</B>&#148;), there is no investment banker,
      broker, finder or other financial intermediary that has been retained by
      or is authorized to act on behalf of any of Sunward or its subsidiaries
      who is entitled to any fee or commission from any of Sunward or its
      subsidiaries in connection with the transactions contemplated hereby or
      will have any ongoing commitment from Sunward or its subsidiaries after
      the Effective Time. Schedule 3.1(gg) of the Sunward Disclosure Letter sets
      forth all amounts payable to the Sunward Financial Advisor by Sunward or
      any of its subsidiaries in connection with the transactions contemplated
      hereby.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(hh) </TD>
    <TD>
      <P align=justify><U>Insurance</U>. As of the date hereof, Sunward and its
      subsidiaries have such policies of insurance as are listed in Schedule
      3.1(hh) of the Sunward Disclosure Letter. All insurance maintained by
      Sunward or any of its subsidiaries is in full force and effect and in good
      standing and neither Sunward nor any of its subsidiaries is in default,
      whether as to payment of premium or otherwise, under the terms of any such
      insurance nor has Sunward or any of its subsidiaries failed to give any
      notice or present any material claim under any such insurance in a due and
      timely fashion or received notice or otherwise become aware of any intent
      of an insurer to either claim any default on the part of Sunward or any of
      its subsidiaries or not to renew any policy of insurance on its expiry or
      to increase any deductible or cost, except where such failure or default
      or other event would not reasonably be expected to have a Material Adverse
      Effect.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify><U>Corrupt Practices Legislation</U>. None of Sunward,
      its subsidiaries or affiliates, nor to the knowledge of Sunward any of it,
      its subsidiaries or affiliates&#146; respective directors, officers or
      employees, or agents or other third party representatives when acting on
      Sunward or any of its subsidiaries or affiliates&#146; behalf,
  has:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>violated any provision of Canada&#146;s Corruption of Foreign
      Public Officials Act or any applicable provision of the United States&#146;
      Foreign Corrupt Practices Act or any applicable Law of similar effect
      (collectively, &#147;<B>Applicable Anti-Corruption
Laws</B>&#148;);</P></TD></TR></TABLE>
<P align=right>32 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_36></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>on behalf of Sunward or any of its subsidiaries or
      affiliates, made or authorized any contribution, payment or promise to
      make payment of any money, gift, loan, reward, advantage, benefit or
      anything of value, directly or indirectly, to or for the benefit of a
      Government Official to influence any act or omission of any Government
      Official or Government Entity;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD>
      <P align=justify>used or is using any corporate funds for any direct or
      indirect illegal payments to any Government Officials; or</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iv) </TD>
    <TD>
      <P align=justify>to the knowledge of Sunward, been or is subject to any
      investigation by any governmental authority or regulatory agency regarding
      any actual, alleged or potential violation of, or failure to comply with,
      Applicable Anti-Corruption Laws.</P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 10%" align=justify>To the knowledge of Sunward, none of
Sunward or its subsidiaries or affiliates&#146; officers, directors, employees,
agents, or other third party representatives are Government Officials. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(jj) </TD>
    <TD>
      <P align=justify><U>No Shareholder Rights Plan</U>. As of the date hereof,
      there is no shareholder rights plan, &#147;poison pill&#148; antitakeover plan or
      similar device in effect to which Sunward or any of its subsidiaries is
      subject, party or otherwise bound.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(kk) </TD>
    <TD>
      <P align=justify><U>United States Securities Laws</U>. Sunward (i) is not
      subject to the reporting requirements of Section 13(a) or 15(d) of the
      U.S. Exchange Act; (ii) is a &#147;foreign private issuer&#148; as defined in Rule
      3b-4 under the U.S. Exchange Act; and (iii) is not an &#147;investment company&#148;
      as defined in the United States Investment Company Act of 1940, as
      amended.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>3.2</B> </TD>
    <TD>
      <P align=justify><B>Survival of Representations and
  Warranties</B></P></TD></TR></TABLE>
<P align=justify style="text-indent:5%">The representations and
warranties of Sunward contained in this Agreement shall not survive the
completion of the Arrangement and shall expire and be terminated on the earlier
of the Effective Time and the date on which this Agreement is terminated in
accordance with its terms. </P>
<P align=center><B>ARTICLE 4 <BR></B><B>REPRESENTATIONS AND WARRANTIES OF
NOVACOPPER </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.1</B> </TD>
    <TD>
      <P align=justify><B>Representations and
Warranties</B></P></TD></TR></TABLE>
<P align=justify style="text-indent:5%">NovaCopper hereby represents, and
warrants to and in favour of Sunward as follows except to the extent that such
representations and warranties are qualified by the NovaCopper Disclosure Letter
(which shall make reference to the applicable section, subsection, paragraph or
subparagraph below in respect of which such qualification is being made), and
acknowledges that Sunward is relying upon such representations and warranties in
connection with the entering into of this Agreement: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify><U>Board Approval</U>. As of the date hereof, the
      NovaCopper Board, after consultation with its financial and legal
      advisors, has determined that the Plan of Arrangement is in the best
      interests of NovaCopper and has unanimously resolved to recommend to the
      NovaCopper Shareholders that they vote in favour of the Arrangement. The
      NovaCopper Board has approved the Arrangement pursuant to the Plan of
      Arrangement and the execution and performance of this
  Agreement.</P></TD></TR></TABLE>
<P align=right>33 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_37></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify><U>Organization and Qualification</U>. NovaCopper and
      each of its subsidiaries is a corporation duly incorporated or an entity
      duly created and validly existing under all applicable Laws of its
      jurisdiction of incorporation, continuance or creation and has all
      necessary corporate or other power, authority and capacity to own its
      property and assets as now owned and to carry on its business as it is now
      being conducted. NovaCopper and each of its
subsidiaries:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>has all Permits necessary to conduct its business
      substantially as now conducted as disclosed in the NovaCopper Public
      Disclosure Record, except where the failure to hold such Permits would not
      individually or in the aggregate have a Material Adverse Effect;
  and</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>is duly registered or otherwise authorized and qualified
      to do business and each is in good standing in each jurisdiction in which
      the character of its properties, owned, leased, licensed or otherwise
      held, or the nature of its activities makes such qualification necessary,
      except where the failure to be so qualified will not individually or in
      the aggregate have a Material Adverse Effect.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify><U>Authority Relative to this Agreement</U>. NovaCopper
      has the requisite corporate power, authority and capacity to enter into
      this Agreement and to perform its obligations hereunder. The execution and
      delivery of this Agreement by NovaCopper and the performance by NovaCopper
      of its obligations under this Agreement have been duly authorized by the
      NovaCopper Board and no other corporate proceedings on its part are
      necessary to authorize this Agreement or the Arrangement pursuant to the
      Plan of Arrangement other than the NovaCopper Shareholder Approval. This
      Agreement has been duly executed and delivered by NovaCopper and
      constitutes a legal, valid and binding obligation of NovaCopper,
      enforceable against NovaCopper in accordance with its terms, subject to
      the qualification that such enforceability may be limited by bankruptcy,
      insolvency, reorganization or other applicable Laws relating to or
      affecting rights of creditors generally and subject to the qualification
      that equitable remedies, including specific performance, are
      discretionary.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify><U>No Violation</U>. The authorization, execution and
      delivery of this Agreement by NovaCopper, the completion of the
      transactions contemplated by this Agreement and the Arrangement pursuant
      to the Plan of Arrangement and the performance of NovaCopper&#146;s obligations
      hereunder or thereunder in accordance with the terms hereof and thereof
      will not:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>violate, conflict with, or result (with or without notice
      or the passage of time) in a violation or breach of any provision of, or
      require, except in respect of the Key Third-Party Consents (which are the
      only consents, approvals and notices required from any third-party under
      any Contracts of NovaCopper or any of its subsidiaries in order for
      NovaCopper and its subsidiaries to proceed with the execution and delivery
      of this Agreement and the completion of the transactions contemplated by
      this Agreement and the Plan of Arrangement), any consent, approval or
      notice under, or constitute a default (or an event which, with notice or
      lapse of time or both, would constitute a default) or result in a right of
      termination or acceleration under, or cause any indebtedness to come due
      before its stated maturity, or cause any credit commitment to cease to be
      available, or cause any payment or other obligation to be imposed on
      NovaCopper or any of its subsidiaries, under any of the terms, conditions
      or provisions of:</P></TD></TR></TABLE>
<P align=right>34 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_38></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="15%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(A) </TD>
    <TD>
      <P align=justify>their respective articles, charters or by-laws or other
      comparable organizational documents; or</P></TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(B) </TD>
    <TD>
      <P align=justify>any Permit or material Contract to which NovaCopper or
      any of its subsidiaries is a party or to which any of them, or any of
      their respective properties or assets, may be subject or by which
      NovaCopper or any of its subsidiaries is bound;
or</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>subject to obtaining the Key Regulatory
  Approvals,</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="15%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(A) </TD>
    <TD>
      <P align=justify>result (with or without notice or the passage of time) in
      a violation or breach of or constitute a default under any provisions of
      any Laws applicable to NovaCopper or any of its subsidiaries or any of
      their respective properties or assets; or</P></TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(B) </TD>
    <TD>
      <P align=justify>cause the suspension or revocation of any Permit
      currently in effect in regard of NovaCopper or any of its
    subsidiaries;</P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 10%" align=justify>(except, in the case of each of
clauses (i) and (ii) above, for such violations, conflicts, breaches, defaults,
terminations, accelerations or any consents (expressly excluding clause (i)(A),
excluding the Key Third-Party Consents and Key Regulatory Approvals), approvals
or notices which if not given or received, would not, individually or in the
aggregate, reasonably be expected to have any Material Adverse Effect);</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD>
      <P align=justify>give rise to any rights of first refusal or trigger any
      change in control provisions under any note, bond, mortgage, indenture,
      contract, license, franchise or Permit to which NovaCopper is a party;
      or</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iv) </TD>
    <TD>
      <P align=justify>result in the imposition of any Liens upon any assets of
      NovaCopper or any of its subsidiaries.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(e) </TD>
    <TD>
      <P align=justify><U>Capitalization</U>. The authorized share capital of
      NovaCopper consists of an unlimited number of NovaCopper Shares. As of the
      close of business on April 22, 2015, there are issued and outstanding
      60,633,701 NovaCopper Shares. As of the close of business on April 22,
      2015, an aggregate of 3,161,666 NovaCopper Shares are issuable upon the
      exercise of 3,161,666 options to purchase NovaCopper Shares
      (&#147;<B>NovaCopper Options</B>&#148;), an aggregate of 6,521,740 NovaCopper Shares
      are issuable upon exercise of 6,521,740 warrants to purchase NovaCopper
      Shares (&#147;<B>NovaCopper Warrants</B>&#148;), an aggregate of nil NovaCopper
      Shares are issuable upon vesting of restricted share units (&#147;<B>NovaCopper
      RSUs</B>&#148;) outstanding, an aggregate of 912,410 NovaCopper Shares are
      issuable upon vesting of the 912,410 deferred share units (&#147;<B>NovaCopper
      DSUs</B>&#148;) outstanding, an aggregate of 546,771 NovaCopper Shares are
      issuable upon exercise of the 3,280,626 NovaGold arrangement options
      (&#147;<B>NovaGold Arrangement Options</B>&#148;) outstanding and an aggregate of
      3,447 NovaCopper Shares are issuable upon vesting of the 20,686 NovaGold
      DSUs (&#147;<B>NovaGold DSUs</B>&#148;) outstanding. There are no options (other
      than the NovaCopper Options and NovaGold Arrangement Options), warrants
      (other than the NovaCopper Warrants), conversion privileges or other
      rights, shareholder rights plans, agreements, arrangements or commitments
      (pre-emptive, contingent or otherwise) of any character whatsoever
      requiring or which may require the issuance, sale or transfer by
      NovaCopper of any securities of NovaCopper (including NovaCopper Shares),
      or any securities (other than the NovaCopper RSUs, NovaCopper DSUs or
      NovaGold DSUs,) or obligations convertible into, or exchangeable or
      exercisable for, or otherwise evidencing a right or obligation to acquire, any
securities of NovaCopper (including NovaCopper Shares) or of any subsidiary of
NovaCopper. Other than the NovaCopper Shares, NovaCopper Options, NovaCopper
Warrants, NovaCopper RSUs, NovaCopper DSUs, NovaGold DSUs and NovaGold
Arrangement Options, there are no securities of NovaCopper outstanding. All
outstanding NovaCopper Shares have been duly authorized and validly issued, are
fully paid and non-assessable, and all NovaCopper Shares issuable upon the
exercise of NovaCopper Options, NovaGold Arrangement Options or NovaCopper
Warrants or upon vesting of the NovaGold DSUs, NovaCopper RSUs or NovaCopper
DSUs, in accordance with their respective terms have been duly authorized and,
upon issuance, will be validly issued as fully paid and non-assessable, and are
not and will not be subject to, or issued in violation of, any pre-emptive
rights. All securities of NovaCopper (including the NovaCopper Shares,
NovaCopper Options, NovaGold Arrangement Options, NovaCopper Warrants, NovaGold
DSUs, NovaCopper RSUs and NovaCopper DSUs,) have been issued in compliance with
all applicable Laws. Other than the NovaCopper Shares, NovaCopper Options,
NovaGold Arrangement Options, NovaCopper Warrants, NovaGold DSUs, NovaCopper
RSUs and NovaCopper DSUs, there are no securities of NovaCopper or of any of its
subsidiaries outstanding which have the right to vote generally (or are
convertible into or exchangeable for securities having the right to vote
generally) with the NovaCopper Shareholders on any matter. There are no
outstanding contractual or other obligations of NovaCopper or any subsidiary to
repurchase, redeem or otherwise acquire any of its securities or with respect to
the voting or disposition of any of its outstanding securities. There are no
outstanding bonds, debentures or other evidences of indebtedness of NovaCopper
or any of its subsidiaries having the right to vote with the holders of the
outstanding NovaCopper Shares on any matters. </P></TD></TR></TABLE>
<P align=right>35 </P>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(f) </TD>
    <TD>
      <P align=justify><U>Reporting Status and Securities Laws Matters</U>.
      NovaCopper is a &#147;reporting issuer&#148; and not on the list of reporting
      issuers in default under applicable Canadian provincial Securities Laws in
      each of the provinces of Canada. No delisting, suspension of trading in or
      cease trading order with respect to any securities of NovaCopper and, to
      the knowledge of NovaCopper, no inquiry or investigation (formal or
      informal) of any Securities Authority or the SEC, is in effect or ongoing
      or, to the knowledge of NovaCopper, expected to be implemented or
      undertaken.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(g) </TD>
    <TD>
      <P align=justify><U>United States Securities Laws</U>. NovaCopper (i) is
      subject to the reporting requirements of Section 13(a) or 15(d) of the
      U.S. Exchange Act; (ii) is not a &#147;foreign private issuer&#148; as defined in
      Rule 3b-4 under the U.S. Exchange Act; and (iii) is not an &#147;investment
      company&#148; as defined in the United States Investment Company Act of 1940,
      as amended.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(h) </TD>
    <TD>
      <P align=justify><U>Ownership of subsidiaries</U>. Schedule 4.1(h) of the
      NovaCopper Disclosure Letter includes complete and accurate lists of all
      subsidiaries owned, directly or indirectly, by NovaCopper, each of which
      is wholly-owned other than as disclosed in Schedule 4.1(h) of the
      NovaCopper Disclosure Letter. All of the issued and outstanding shares of
      capital stock and other ownership interests in the subsidiaries of
      NovaCopper are duly authorized, validly issued, fully paid and
      non-assessable, and all such shares and other ownership interests held
      directly or indirectly by NovaCopper are legally and beneficially owned
      free and clear of all Liens, and there are no outstanding options,
      warrants, rights, entitlements, understandings or commitments (contingent
      or otherwise) regarding the right to purchase or acquire, or securities
      convertible into or exchangeable for, any such shares of capital stock or
      other ownership interests in or material assets or properties of any of
      the subsidiaries of NovaCopper, except as disclosed in Schedule 4.1(h) of
      the NovaCopper Disclosure Letter. There are no contracts, commitments,
      agreements, understandings, arrangements or restrictions which require any
subsidiaries of NovaCopper to issue, sell or deliver any shares in its share
capital or other ownership interests, or any securities or obligations
convertible into or exchangeable for, any shares of its share capital or other
ownership interests. Except as otherwise disclosed in Schedule 4.1(h) of the
NovaCopper Disclosure Letter there are no outstanding options, rights,
entitlements, understandings or commitments (contingent or otherwise) providing
to any third-party the right to acquire any shares or other ownership interests
in any subsidiaries of NovaCopper.</P></TD></TR></TABLE>
<P align=right>36 </P>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify><U>Public Filings</U>. NovaCopper has filed all documents
      required to be filed by it in accordance with applicable Securities Laws
      in Canada and the U.S. Exchange Act. NovaCopper has filed all necessary
      documents and information required to be filed with the Securities
      Authorities and the TSX and the NYSEMKT. All such documents and
      information comprising the NovaCopper Public Disclosure Record, as of
      their respective dates (and the dates of any amendments
  thereto):</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>did not contain any untrue statement of a material fact
      or omit to state a material fact required to be stated therein or
      necessary to make the statements therein, in light of the circumstances in
      which they were made, not misleading; and</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>complied in all material respects with the requirements
      of applicable Securities Laws in Canada and the U.S. Exchange Act, and any
      amendments to the NovaCopper Public Disclosure Record required to be made
      have been filed on a timely basis with the Securities Authorities or the
      TSX. NovaCopper has not filed any confidential material change report with
      any Securities Authorities that at the date of this Agreement remains
      confidential.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(j) </TD>
    <TD>
      <P align=justify><U>NovaCopper Financial Statements</U>. NovaCopper&#146;s
      audited financial statements as at and for the fiscal years ended November
      30, 2014 and 2013, the unaudited financial statements as at and for the
      three months ended February 28, 2015 and 2014 and NovaCopper&#146;s MD&amp;A
      for the corresponding periods (collectively, the &#147;<B>NovaCopper Financial
      Statements</B>&#148;) were prepared in accordance with U.S. GAAP consistently
      applied (except as otherwise indicated in such financial statements and
      the notes thereto or in the related report of NovaCopper&#146;s independent
      auditors, and except that the unaudited NovaCopper Financial Statements
      may not contain footnotes and are subject to normal year-end adjustments,
      none of which individually or in the aggregate will be material in nature
      or amount) and fairly present in all material respects the consolidated
      financial position, results of operations and changes in financial
      position of NovaCopper and its subsidiaries as of the dates thereof and
      for the periods indicated therein and reflect reserves required by U.S.
      GAAP in respect of all material contingent liabilities, if any, of
      NovaCopper and its subsidiaries on a consolidated basis. There has been no
      material change in NovaCopper&#146;s accounting policies, except as described
      in the notes to the NovaCopper Financial Statements, since November 30,
      2014.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(k) </TD>
    <TD>
      <P align=justify><U>Internal Controls and Financial Reporting</U>.
      NovaCopper has designed and implemented disclosure controls and procedures
      to provide reasonable assurance that material information relating to
      NovaCopper, including its consolidated subsidiaries, is made known to the
      Chief Executive Officer and the Chief Financial Officer of NovaCopper by
      others within those entities, as appropriate to allow timely decisions
      regarding required disclosure, particularly during the periods in which
      filings are being prepared. NovaCopper has disclosed, based on the most
      recent evaluation of its Chief Executive Officer and its Chief Financial Officer prior to the date
hereof, to NovaCopper&#146;s auditors and the audit committee of the NovaCopper
Board: </P></TD></TR></TABLE>
<P align=right>37 </P>
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cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>any significant deficiencies in the design or operation
      of its internal controls over financial reporting that are reasonably
      likely to adversely affect NovaCopper&#146;s ability to record, process,
      summarize and report financial information and has identified for
      NovaCopper&#146;s auditors and the NovaCopper Board any material weaknesses in
      internal control over financial reporting; and</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>any fraud, whether or not material, that involves
      management or other employees who have a significant role in NovaCopper&#146;s
      internal control over financial reporting.</P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 10%" align=justify>To the knowledge of NovaCopper, as at
November 30, 2014, there were no material weaknesses or significant deficiencies
in such internal controls and as of the date hereof, nothing has come to the
attention of NovaCopper that has caused NovaCopper to believe that there are any
material weaknesses or significant deficiencies in such internal controls.</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(l) </TD>
    <TD>
      <P align=justify><U>Books and Records</U>. The financial books, records
      and accounts of NovaCopper and its subsidiaries (during the period of time
      when owned by NovaCopper), in all material
respects:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>have been maintained in accordance with good business
      practices and in accordance with U.S. GAAP and with the accounting
      principles generally accepted in the country of domicile of each such
      entity, on a basis consistent with prior years;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>in each case are stated in reasonable detail and
      accurately and fairly reflect the material transactions and dispositions
      of the assets of NovaCopper and its subsidiaries; and</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD>
      <P align=justify>accurately and fairly reflect the basis for the
      NovaCopper Financial Statements.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(m) </TD>
    <TD>
      <P align=justify><U>Minute Books</U>. The minute books of each of
      NovaCopper and its subsidiaries, which have been provided to Sunward prior
      to the date hereof, are true and correct in all material respects, and
      contain the minutes of all meetings of the boards of directors, committees
      of the boards and shareholders and all resolutions passed by the boards of
      directors, committees of the boards and the shareholders.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(n) </TD>
    <TD>
      <P align=justify><U>No Undisclosed Liabilities</U>. NovaCopper and its
      subsidiaries have no outstanding indebtedness or liabilities and none is a
      party to or bound by any surety-ship, guarantee, indemnification or
      assumption agreement, or endorsement of, or any other similar commitment
      with respect to the obligations, liabilities or indebtedness of any
      Person, other than those specifically identified in the NovaCopper Public
      Disclosure Record or incurred in the ordinary course of business since
      November 30, 2014.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(o) </TD>
    <TD>
      <P align=justify><U>No Material Change</U>. Since November 30, 2014, there
      has been no material change in respect of NovaCopper and its subsidiaries
      taken as a whole, and the debt, business and material property of
      NovaCopper and its subsidiaries conform in all respects to the description
      thereof contained in the NovaCopper Public Disclosure Record, and there
      has been no dividend or distribution of any kind declared, paid or
made by NovaCopper on any NovaCopper Shares. </P></TD></TR></TABLE>
<P align=right>38 </P>
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cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(p) </TD>
    <TD>
      <P align=justify><U>Litigation</U>. There are no material claims, actions,
      suits, grievances, complaints or proceedings pending or, to the knowledge
      of NovaCopper, threatened affecting NovaCopper or any of its subsidiaries
      or affecting any of their respective property or assets at law or in
      equity before or by any non-governmental organization, community,
      community group, aboriginal peoples or aboriginal group or any
      Governmental Entity, including matters arising under Environmental Laws.
      Neither NovaCopper nor any of its subsidiaries nor their respective assets
      or properties is subject to any outstanding material judgment, order,
      writ, injunction or decree.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(q) </TD>
    <TD>
      <P align=justify><U>Taxes</U>.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>NovaCopper and each of its subsidiaries has duly and
      timely filed all Returns required to be filed by it prior to the date
      hereof, other than those which have been administratively waived, and all
      such Returns are complete and correct in all material respects.</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>NovaCopper and each of its subsidiaries has paid on a
      timely basis all Taxes which are due and payable, all assessments and
      reassessments, other than those which are being or have been contested in
      good faith and in respect of which reserves have been provided in the most
      recently published NovaCopper Financial Statements.</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD>
      <P align=justify>Except as provided for in the NovaCopper Financial
      Statements, no material deficiencies, litigation, proposed adjustments or
      matters in controversy exist or have been asserted with respect to Taxes
      of NovaCopper or any of its subsidiaries, and neither NovaCopper nor any
      of its subsidiaries is a party to any action or proceeding for assessment
      or collection of Taxes and no such event has been asserted or, to the
      knowledge of NovaCopper, threatened against NovaCopper or any of its
      subsidiaries or any of their respective assets, that would reasonably be
      expected to have a Material Adverse Effect.</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iv) </TD>
    <TD>
      <P align=justify>No claim has been made by any Governmental Entity in a
      jurisdiction where NovaCopper or any of its subsidiaries does not file
      Returns that NovaCopper or any of its subsidiaries is or may be subject to
      Tax by that jurisdiction.</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(v) </TD>
    <TD>
      <P align=justify>There are no Liens for unpaid Taxes (other than in
      respect of Taxes not yet due and payable and for which adequate accruals
      or reserves have been established in accordance with U.S. GAAP) upon any
      of the assets of NovaCopper or any of its subsidiaries.</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(vi) </TD>
    <TD>
      <P align=justify>NovaCopper and each of its subsidiaries has withheld or
      collected all amounts required to be withheld or collected by it on
      account of Taxes and has remitted all such amounts to the appropriate
      Governmental Entity when required by Law to do so, except where the
      failure to do so would not, individually or in the aggregate, result in a
      Material Adverse Effect.</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(vii) </TD>
    <TD>
      <P align=justify>There are no outstanding agreements extending or waiving
      the statutory period of limitations applicable to any claim for, or the
      period for the collection or assessment or reassessment of, Taxes due from
      NovaCopper or any of its subsidiaries for any taxable period and no request for any such
waiver or extension is currently pending. </P></TD></TR></TABLE>
<P align=right>39 </P>
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<TABLE
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cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(viii) </TD>
    <TD>
      <P align=justify>NovaCopper and each of its subsidiaries have given to
      Sunward true, correct and complete copies of all their income and capital
      tax returns and statements of deficiencies for taxable periods, or
      transactions consummated, for which the applicable statutory periods of
      limitations have not expired, and there are no material omissions in the
      foregoing.</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ix) </TD>
    <TD>
      <P align=justify>The NovaCopper Shares are listed on a &#147;recognized stock
      exchange&#148; as defined by the Tax Act.</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(x) </TD>
    <TD>
      <P align=justify>For the purposes of the Tax Act and any other relevant
      Tax purposes:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="15%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(A) </TD>
    <TD>
      <P align=justify>NovaCopper is resident in Canada; and</P></TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(B) </TD>
    <TD>
      <P align=justify>each subsidiary of NovaCopper is resident in the
      jurisdiction in which it is formed and is not resident in nor has a
      permanent establishment for tax purposes in any other
  country.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(r) </TD>
    <TD>
      <P align=justify><U>Interest in Properties and Mineral
  Rights</U>.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>NovaCopper or one of its subsidiaries is the sole legal
      and beneficial owner of all right, title and interest in and to
      NovaCopper&#146;s and its subsidiaries&#146; material real properties including all
      real Property relating to the Upper Kobuk Mineral Projects (collectively,
      the &#147;<B>NovaCopper Properties</B>&#148;) and NovaCopper&#146;s and its subsidiaries&#146;
      material mineral interests and rights (including any material claims,
      concessions, exploration licences, exploitation licences, prospecting
      permits, mining leases and mining rights, in each case, either existing
      under contract, by operation of Law or otherwise) (collectively, the
      &#147;<B>NovaCopper Mineral Rights</B>&#148;), in each case free and clear of any
      Liens (other than Permitted Liens). All of the NovaCopper Properties and
      the NovaCopper Mineral Rights are set out in Schedule 4.1(r)(i) of the
      NovaCopper Disclosure Letter, and neither NovaCopper nor its subsidiaries
      owns or has any interest in any other material real property or any
      material mineral interests and rights.</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>All of the NovaCopper Mineral Rights have been properly
      located and recorded in compliance with applicable Law and are comprised
      of valid and subsisting mineral claims.</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD>
      <P align=justify>The NovaCopper Properties and the NovaCopper Mineral
      Rights are in good standing under applicable Law and, to the knowledge of
      NovaCopper, all work required to be performed and filed in respect thereof
      has been performed and filed, all Taxes, rentals, fees, expenditures and
      other payments in respect thereof have been paid or incurred and all
      filings in respect thereof have been made.</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iv) </TD>
    <TD>
      <P align=justify>There is no material adverse claim against or challenge
      to the title to or ownership of the NovaCopper Properties or any of the
      NovaCopper Mineral Rights.</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(v) </TD>
    <TD>
      <P align=justify>No Person other than NovaCopper or its subsidiaries has
      any interest in the NovaCopper Properties or any of the NovaCopper Mineral
      Rights or the production or profits therefrom or any royalty in respect
thereof or any right to acquire any such interest. </P></TD></TR></TABLE>
<P align=right>40 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(vi) </TD>
    <TD>
      <P align=justify>There are no back-in rights, earn-in rights, rights of
      first refusal or similar provisions or rights which would affect
      NovaCopper&#146;s or its subsidiary&#146;s interest in the NovaCopper Properties or
      any of the NovaCopper Mineral Rights.</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(vii) </TD>
    <TD>
      <P align=justify>There are no material restrictions on the ability of
      NovaCopper and its subsidiaries to use, transfer or exploit the NovaCopper
      Properties or any of the NovaCopper Mineral Rights, except pursuant to
      applicable Law.</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(viii) </TD>
    <TD>
      <P align=justify>Neither NovaCopper nor any of its subsidiaries has
      received any notice, whether written or oral, from any non-governmental
      organization, community, community group, aboriginal peoples or aboriginal
      group or any Governmental Entity of any revocation or intention to revoke
      any interest of NovaCopper or any of its subsidiaries in any of the
      NovaCopper Properties or any of the NovaCopper Mineral Rights.</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ix) </TD>
    <TD>
      <P align=justify>NovaCopper and/or its subsidiaries have all surface
      rights, including fee simple estates, leases, easements, rights of way and
      permits or licences from landowners, any non-governmental organization,
      community, community group, aboriginal peoples or aboriginal group or
      Governmental Entities permitting the use of land by NovaCopper and/or its
      subsidiaries, and mineral interests that are required to undertake
      activities as presently contemplated on the NovaCopper
  Properties.</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(x) </TD>
    <TD>
      <P align=justify>All Contracts entered into by NovaCopper and/or its
      subsidiaries with any Alaskan Native corporation, non-governmental
      organization, community, community group, aboriginal peoples or aboriginal
      group (&#147;<B>NovaCopper Aboriginal Contracts</B>&#148;), whether oral or written,
      are in full force and effect and NovaCopper and its subsidiaries have
      complied in all material respects with all terms of such NovaCopper
      Aboriginal Contracts, have paid all amounts due thereunder, have not
      waived any rights thereunder and no material default or breach exists in
      respect thereof on the part of NovaCopper or any of its subsidiaries or,
      to the knowledge of NovaCopper, on the part of any other party thereto,
      and no event has occurred which, after the giving of notice or the lapse
      of time or both, would constitute such a material default or breach or
      trigger a right of termination of any of the NovaCopper Aboriginal
      Contracts. As at the date hereof, neither NovaCopper nor any of its
      subsidiaries has received written notice that any party to a NovaCopper
      Aboriginal Contract intends to cancel, terminate or otherwise modify or
      not renew such NovaCopper Aboriginal Contract, and to the knowledge of
      NovaCopper, no such action has been threatened. Neither NovaCopper nor any
      of its subsidiaries is a party to any material Contract that contains any
      non-competition obligation or otherwise restricts in any material way the
      business of NovaCopper or any of its
subsidiaries.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(s) </TD>
    <TD>
      <P align=justify><U>Contracts</U>. All material Contracts to which
      NovaCopper or any of its subsidiaries are a party are in full force and
      effect, and NovaCopper or its subsidiaries are entitled to all rights and
      benefits thereunder in accordance with the terms thereof. NovaCopper has
      made available to Sunward for inspection true and completed copies of all
      material Contracts, and all such material Contracts have been provided to
      Sunward pursuant to its due diligence requests. All of the material Contracts are valid
and binding obligations of NovaCopper or its subsidiaries, as the case may be,
enforceable in accordance with their respective terms, except as may be limited
by bankruptcy, insolvency and other laws affecting the enforcement of creditors&#146;
rights generally and subject to the qualification that equitable remedies may
only be granted in the discretion of a court of competent jurisdiction.
NovaCopper and its subsidiaries have complied in all material respects with all
terms of such material Contracts, have paid all amounts due thereunder, have not
waived any rights thereunder and no material default or breach exists in respect
thereof on the part of NovaCopper or any of its subsidiaries or, to the
knowledge of NovaCopper, on the part of any other party thereto, and no event
has occurred which, after the giving of notice or the lapse of time or both,
would constitute such a material default or breach or trigger a right of
termination of any of the material Contracts. As at the date hereof, neither
NovaCopper nor any of its subsidiaries has received written notice that any
party to a material Contract intends to cancel, terminate or otherwise modify or
not renew such material Contract, and to the knowledge of NovaCopper, no such
action has been threatened.</P></TD></TR></TABLE>
<P align=right>41 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_45></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(t) </TD>
    <TD>
      <P align=justify><U>Permits</U>. NovaCopper and each of its subsidiaries
      has obtained and is in compliance with all Permits required by applicable
      Laws that are necessary to conduct its current business as it is now being
      conducted, except where the failure to hold or comply with such Permits
      would not, individually or in the aggregate, have a Material Adverse
      Effect.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(u) </TD>
    <TD>
      <P align=justify><U>Environmental Matters</U>. Except for any matters
      that, individually or in the aggregate would not have or would not
      reasonably be expected to have a Material Adverse Effect, each of
      NovaCopper and its subsidiaries and their respective businesses,
      operations, and properties:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>is in material compliance with all Environmental Laws and
      all terms and conditions of all Environmental Permits;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>has not received any order, request or notice from any
      Person alleging a material violation of any Environmental Law;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD>
      <P align=justify>is not a party to any litigation or administrative
      proceeding, nor to the knowledge of NovaCopper is any litigation or
      administrative proceeding threatened against it or its property or assets,
      which in either case asserts or alleges that it violated any Environmental
      Laws, is required to clean up, remove or take remedial or other response
      action due to the Release of any Hazardous Substances, or is required to
      pay all or a portion of the cost of any past, present or future cleanup,
      removal or remedial or other response action which arises out of or is
      related to the Release of any Hazardous Substances;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iv) </TD>
    <TD>
      <P align=justify>has no knowledge of any conditions existing currently
      which could reasonably be expected to subject it to damages, penalties,
      injunctive relief or cleanup costs under any Environmental Laws or which
      require or are likely to require cleanup, removal, remedial action or
      other response by it pursuant to applicable Environmental Laws;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(v) </TD>
    <TD>
      <P align=justify>is not subject to any judgment, decree, order or citation
      related to or arising out of applicable Environmental Law and has not been
      named or listed as a potentially responsible party by any Governmental
      Entity in a matter arising under any Environmental Laws;
  and</P></TD></TR></TABLE>
<P align=right>42 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_46></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(vi) </TD>
    <TD>
      <P align=justify>is not involved in operations and does not know of any
      facts, circumstances or conditions, including any Release of any Hazardous
      Substance, that would reasonably be expected to result in any
      Environmental Liabilities.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(v) </TD>
    <TD>
      <P align=justify><U>Mineral Resources</U>. The most recent estimates of
      indicated, measured and inferred mineral resources disclosed in the
      NovaCopper Public Disclosure Record have been prepared and disclosed in
      all material respects in accordance with NI 43-101. The information
      provided by NovaCopper to the Qualified Persons (as defined in NI 43-101)
      in connection with the preparation of such estimates was complete and
      accurate in all material respects at the time such information was
      furnished. No material mineral deposits are subject to illegal occupation.
      There are no material outstanding unresolved comments of any Securities
      Authorities in respect of NovaCopper&#146;s disclosure in the NovaCopper Public
      Disclosure Record. There has been no material reduction in the aggregate
      amount of estimated mineral reserves and mineral resources of NovaCopper
      and its subsidiaries, on a consolidated basis, from the amounts disclosed
      in the NovaCopper Public Disclosure Record, other than as a result of (A)
      mining operations conducted in the ordinary course of business of
      NovaCopper and (B) the conversion of mineral resources to mineral
      reserves.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(w) </TD>
    <TD>
      <P align=justify><U>Regulatory</U>.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>NovaCopper and its subsidiaries have operated and are
      currently operating in material compliance with all applicable Laws,
      including all applicable rules, regulations, guidelines and policies of
      any Regulatory Authorities; and</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>NovaCopper and its subsidiaries have operated and are
      currently operating their respective businesses in compliance with all
      Regulatory Authorizations in all material respects and have made all
      requisite material declarations and filings with the Regulatory
      Authorities. NovaCopper and its subsidiaries have not received any written
      notices or other correspondence from the Regulatory Authorities regarding
      any circumstances that have existed or currently exist which would lead to
      a loss, suspension, or modification of, or a refusal to issue, any
      material Regulatory Authorization relating to its activities which would
      reasonably be expected to restrict, curtail, limit or adversely affect the
      ability of NovaCopper or its subsidiaries to operate their respective
      businesses.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(x) </TD>
    <TD>
      <P align=justify><U>Employment Matters</U>. NovaCopper and each of its
      subsidiaries has complied, in all material respects, with the terms of all
      agreements, health, welfare, supplemental unemployment benefit, bonus,
      incentive, profit sharing, deferred compensation, stock purchase, stock
      compensation, stock option, disability, pension or retirement plans and
      other employee compensation or benefit plans, policies, arrangements,
      practices or undertakings, whether oral or written, formal or informal,
      funded or unfunded, insured or uninsured which are maintained by or
      binding upon NovaCopper or such subsidiary or in respect of which
      NovaCopper or any of its subsidiaries has any actual or potential
      liability and with all applicable Laws and collective bargaining
      agreements relating thereto.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD>
      <P align=justify>Except for those agreements or provisions described in
      Schedule 4.1(x) of the NovaCopper Disclosure Letter, no employee, director
      or officer of NovaCopper or of any of its subsidiaries is party to a
      change of control, severance, termination, golden parachute or similar
      agreement or provision or would receive payments under such agreement or
      provision as a result of the Arrangement.</P></TD></TR></TABLE>
<P align=right>43 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_47></A>
<P style="MARGIN-LEFT: 10%" align=justify>Neither NovaCopper nor any subsidiary
is party to any collective bargaining agreement, contract or legally binding
commitment to any trade unions or employee organization or group. There are no
threatened or apparent union organizing activities involving employees of
NovaCopper or any of its subsidiaries, nor is NovaCopper or any of its
subsidiaries currently negotiating any collective bargaining agreements. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(y) </TD>
    <TD>
      <P align=justify><U>Compliance with Laws</U>. NovaCopper and its
      subsidiaries have complied with and are not in violation of any applicable
      Laws, other than non-compliance or violations which would not,
      individually or in the aggregate, have a Material Adverse
Effect.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(z) </TD>
    <TD>
      <P align=justify><U>Absence of Cease Trade Orders</U>. No order ceasing or
      suspending trading in the NovaCopper Shares (or any of them) or any other
      securities of NovaCopper is outstanding and no proceedings for this
      purpose have been instituted or, to the knowledge of NovaCopper, are
      pending, contemplated or threatened.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(aa) </TD>
    <TD>
      <P align=justify><U>Related Party Transactions</U>. Except as disclosed in
      Schedule 4.1(aa) of the NovaCopper Disclosure Letter or as expressly
      contemplated by this Agreement, there are no Contracts or other
      transactions currently in place between NovaCopper or any of its
      subsidiaries and:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>any officer or director of NovaCopper or any of its
      subsidiaries;</P></TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>any holder of record or beneficial owner of 10% or more
      of the NovaCopper Shares; and</P></TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD>
      <P align=justify>to the knowledge of NovaCopper, any affiliate or
      associate of any such officer, director, holder of record or beneficial
      owner.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(bb) </TD>
    <TD>
      <P align=justify><U>Expropriation</U>. No part of the property or assets
      of NovaCopper or any of its subsidiaries has been taken, condemned or
      expropriated by any Governmental Entity nor has any written notice or
      proceeding in respect thereof been given or commenced nor does NovaCopper
      or any of its subsidiaries know of any intent or proposal to give such
      notice or commence any such proceedings.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(cc) </TD>
    <TD>
      <P align=justify><U>Registration Rights</U>. No NovaCopper Shareholder has
      any right to compel NovaCopper to register or otherwise qualify the
      NovaCopper Shares (or any of them) for public sale or
  distribution.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(dd) </TD>
    <TD>
      <P align=justify><U>Rights of Other Persons</U>. No Person has any right
      of first refusal or option to purchase or any other right of participation
      in any of the material properties or assets owned by NovaCopper or any of
      its subsidiaries, or any part thereof.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(ee) </TD>
    <TD>
      <P align=justify><U>Restrictions on Business Activities</U>. There is no
      arbitral award, judgment, injunction, constitutional ruling, order or
      decree binding upon NovaCopper or any of its subsidiaries that has or
      could reasonably be expected to have the effect of prohibiting,
      restricting, or impairing any business practice of any of them, any
      acquisition or disposition of property by any of them, or the conduct of
      the business by any of them as currently conducted, which could reasonably
      be expected to have a Material Adverse Effect.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(ff) </TD>
    <TD>
      <P align=justify><U>Brokers</U>. Except for Haywood Securities Inc. there
      is no investment banker, broker, finder or other financial intermediary
      that has been retained by or is authorized to act on behalf of any of
      NovaCopper or its subsidiaries who is entitled to any fee or
    commission from any of NovaCopper or its subsidiaries in connection with
the transactions contemplated hereby or will have any ongoing commitment from
NovaCopper or its subsidiaries after the Effective Time.</P></TD></TR></TABLE>
<P align=right>44 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_48></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(gg) </TD>
    <TD>
      <P align=justify><U>Insurance</U>. All insurance maintained by NovaCopper
      or any of its subsidiaries is in full force and effect and in good
      standing and neither NovaCopper nor any of its subsidiaries is in default,
      whether as to payment of premium or otherwise, under the terms of any such
      insurance nor has NovaCopper or any of its subsidiaries failed to give any
      notice or present any material claim under any such insurance in a due and
      timely fashion or received notice or otherwise become aware of any intent
      of an insurer to either claim any default on the part of NovaCopper or any
      of its subsidiaries or not to renew any policy of insurance on its expiry
      or to increase any deductible or cost, except where such failure or
      default or other event would not reasonably be expected to have a Material
      Adverse Effect.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(hh) </TD>
    <TD>
      <P align=justify><U>Corrupt Practices Legislation</U>. Except as disclosed
      in Schedule 4.1(hh) to the NovaCopper Disclosure Letter, none of
      NovaCopper, its subsidiaries or affiliates, nor to the knowledge of
      NovaCopper any of it, its subsidiaries or affiliates&#146; respective
      directors, officers or employees, or agents or other third party
      representatives when acting on NovaCopper or any of its subsidiaries or
      affiliates&#146; behalf, has:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>violated any provision of Applicable Anti-Corruption
      Laws;</P></TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>on behalf of NovaCopper or any of its subsidiaries or
      affiliates, made or authorized any contribution, payment or promise to
      make payment of any money, gift, loan, reward, advantage, benefit or
      anything of value, directly or indirectly, to or for the benefit of a
      Government Official to influence any act or omission of any Government
      Official or Government Entity;</P></TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD>
      <P align=justify>used or is using any corporate funds for any direct or
      indirect illegal payments to any Government Officials; or</P></TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD vAlign=top width="5%">(iv) </TD>
    <TD>
      <P align=justify>to the knowledge of NovaCopper, been or is subject to any
      investigation by any governmental authority or regulatory agency regarding
      any actual, alleged or potential violation of, or failure to comply with,
      Applicable Anti-Corruption Laws.</P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 10%" align=justify>To the knowledge of NovaCopper, none
of NovaCopper or its subsidiaries or affiliates&#146; officers, directors, employees,
agents, or other third party representatives are Government Officials. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify><U>No Shareholder Rights Plan. </U>As of the date hereof,
      there is no shareholder rights plan, "poison pill" antitakeover plan or
      similar device in effect to which NovaCopper or any of its subsidiaries is
      subject, party or otherwise bound.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.2</B> </TD>
    <TD>
      <P align=justify><B>Survival of Representations and
  Warranties</B></P></TD></TR></TABLE>
<P align=justify style="text-indent:5%">The representations and
warranties of NovaCopper contained in this Agreement shall not survive the
completion of the Arrangement and shall expire and be terminated on the earlier
of the Effective Time and the date on which this Agreement is terminated in
accordance with its terms. </P>
<P align=right>45 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_49></A>
<P align=center><B>ARTICLE 5 <BR>COVENANTS</B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>5.1</B> </TD>
    <TD>
      <P align=justify><B>Covenants of Sunward Regarding the Conduct of
      Business</B></P></TD></TR></TABLE>
<P align=justify style="text-indent:5%">From the date of this Agreement until the earlier of the
Effective Time and the time that this Agreement is terminated in accordance with
its terms, except as required by applicable Laws, consented to by NovaCopper in
writing, or otherwise expressly contemplated or permitted by this Agreement,
Sunward shall, and shall cause each of its subsidiaries to, conduct the business
of Sunward and its subsidiaries, taken as a whole, in the ordinary course
consistent with past practice and, to the extent consistent therewith, use its
(and cause each of its subsidiaries to use its) reasonable best efforts to (i)
preserve intact the present business organization of each of Sunward and its
subsidiaries, (ii) maintain in effect all material Permits of each of Sunward
and its subsidiaries, (iii) keep available the services of present officers, key
employees and key consultants of each of Sunward and its subsidiaries, (iv)
comply in all material respects with the terms of each material Contract to
which Sunward or any of its subsidiaries is a party, and (v) preserve intact the
material relationships of each of Sunward and its subsidiaries with suppliers,
distributors and employees. Without limiting the generality of the foregoing,
from the date of this Agreement until the earlier of the Effective Time and the
time that this Agreement is terminated in accordance with its terms, except as
required by applicable Law or otherwise expressly contemplated or permitted by
this Agreement, Sunward shall not, nor shall it permit any of its subsidiaries
to, directly or indirectly, without the prior written consent of NovaCopper
(which consent shall not be unreasonably withheld or delayed): </P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>take any action except in the ordinary course of business
      of Sunward and its subsidiaries;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>amend its notice of articles, articles, charter, by-laws
      or other comparable organizational documents or split, combine, reclassify
      or create a new class of any shares in the capital of Sunward or any of
      its subsidiaries, or declare, set aside or pay any dividend or other
      distribution or payment (whether in cash, securities or property or any
      combination thereof) in respect of the Sunward Shares or any other
      securities of Sunward or any of its subsidiaries;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>offer, issue, grant, deliver, sell or pledge, or agree to
      offer, issue, grant, deliver, sell or pledge, any shares or other
      securities of Sunward or its subsidiaries, or any Sunward Options, Sunward
      DSUs or any other securities convertible into or exchangeable or
      exercisable for, or otherwise evidencing a right to acquire, shares or
      other securities of Sunward or its subsidiaries, other
  than:</P></TD></TR></TABLE></DIV><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>the issuance of Sunward Shares issuable pursuant to the
      terms of the outstanding Sunward Options, and</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>the issuance of Sunward DSUs pursuant to prior elections
      as described in Schedule 5.1(c)(iii) of the Sunward Disclosure
    Letter;</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>redeem, purchase or otherwise acquire, or offer or agree
      to redeem, purchase or otherwise acquire, any outstanding securities of
      Sunward or any of its subsidiaries,</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(e) </TD>
    <TD>
      <P align=justify>adopt a plan of liquidation or dissolution providing for
      the liquidation or dissolution of Sunward or any of its
    subsidiaries;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(f) </TD>
    <TD>
      <P align=justify>amend its accounting policies or adopt new accounting
      policies, in each case except as required in accordance with
  IFRS;</P></TD></TR></TABLE>
<P align=right>46 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_50></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(g) </TD>
    <TD>
      <P align=justify>make or amend any Tax election, change any method of Tax
      accounting, settle or compromise any Tax liability, file any material
      amended Return, surrender any right to claim a material Tax refund, or
      consent to the extension or waiver of the limitation period applicable to
      any material Tax claim or assessment;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(h) </TD>
    <TD>
      <P align=justify>except as set forth in Schedule 5.1(h) of the Sunward
      Disclosure Letter,</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>sell, pledge, hypothecate, lease, license, sell and lease
      back, mortgage, dispose of or encumber or otherwise transfer, any assets,
      securities, properties, interests or businesses of Sunward or any of its
      subsidiaries for an amount greater than $50,000 in the
aggregate;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>acquire (by merger, amalgamation, consolidation or
      acquisition of shares or assets or otherwise), directly or indirectly, any
      assets, securities, properties, interests, businesses, corporation,
      partnership or other business organization or division thereof, or make
      any investment either by the purchase of securities, contributions of
      capital, property transfer, or purchase or agree to purchase of any other
      property or assets of any other Person, for an amount greater than $50,000
      in the aggregate;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD>
      <P align=justify>except in the ordinary course of business consistent with
      past practice, incur, create, assume or otherwise become liable for, any
      indebtedness for borrowed money or any other liability or obligation or
      issue any debt securities or assume, guarantee, endorse or otherwise as an
      accommodation become responsible for the obligations of any other Person,
      or make any loans, capital contributions, investments or
  advances;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iv) </TD>
    <TD>
      <P align=justify>pay, discharge or satisfy any material claims,
      liabilities or obligations for an amount greater than $50,000;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(v) </TD>
    <TD>
      <P align=justify>waive, release, grant or transfer any rights of material
      value; or</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(vi) </TD>
    <TD>
      <P align=justify>authorize or propose any of the foregoing, or enter into
      or modify any Contract to do any of the
foregoing;</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>other than as is necessary to comply with the Plan of
      Arrangement or existing Contracts, or pursuant to prior elections under
      the Sunward DSU Plan:</P></TD></TR></TABLE><BR>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>grant to any officer, employee, consultant or director of
      Sunward or any of its subsidiaries an increase in compensation in any
      form, or grant any general salary increase;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>make any loan to any officer, employee, consultant or
      director of Sunward or any of its subsidiaries;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD>
      <P align=justify>take any action with respect to the grant of any
      severance, change of control, bonus or termination pay to, or enter into
      any employment agreement, deferred compensation or other similar agreement
      (or amend such existing agreement) with, or hire or terminate employment
      (except for just cause) of, any officer, employee, consultant or director
      of Sunward or any of its subsidiaries;</P></TD></TR></TABLE></DIV>
<P align=right>47 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_51></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(iv) </TD>
    <TD>
      <P align=justify>increase any benefits payable under any existing
      severance or termination pay policies or employment agreements, or adopt
      or materially amend or make any contribution to any Sunward Benefit Plan
      or other bonus, profit sharing, option, pension, retirement, deferred
      compensation, insurance, incentive compensation, compensation or other
      similar plan, agreement, trust, fund or arrangement for the benefit of
      directors, officers, consultants or employees or former directors,
      officers, consultants or employees of Sunward or any of its
      subsidiaries;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(v) </TD>
    <TD>
      <P align=justify>increase compensation, bonus levels or other benefits
      payable to any director, officer, consultant or employee of Sunward or any
      of its subsidiaries;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(vi) </TD>
    <TD>
      <P align=justify>provide for accelerated vesting, removal of restrictions
      or an exercise of any stock based or stock related awards (including stock
      options, stock appreciation rights, deferred share units, performance
      units and restricted share awards) upon a change of control; or</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(vii) </TD>
    <TD>
      <P align=justify>establish, adopt or amend (except as required by
      applicable Law) any collective bargaining agreement or similar
      agreement;</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(j) </TD>
    <TD>
      <P align=justify>settle, pay, discharge, satisfy, compromise, waive,
      assign or release any action, claim or proceeding brought against Sunward
      and/or any of its subsidiaries or any action, claim or proceeding brought
      by any present, former or purported holder of its securities in connection
      with the transactions contemplated by this Agreement or the Plan of
      Arrangement for an amount that exceeds $50,000 in the aggregate;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(k) </TD>
    <TD>
      <P align=justify>enter into any agreement or arrangement that limits or
      otherwise restricts in any material respect Sunward or any of its
      subsidiaries or any successor thereto, or that would, after the Effective
      Time, limit or restrict in any material respect Sunward or any of its
      subsidiaries, from competing in any manner;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(l) </TD>
    <TD>
      <P align=justify>waive, release or assign any material rights, claims or
      benefits of Sunward or any of its subsidiaries;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(m) </TD>
    <TD>
      <P align=justify>except as expressly contemplated by this Agreement, enter
      into any agreement that, if entered into prior to the date hereof, would
      be a material Contract or modify, amend in any material respect, transfer
      or terminate any material Contract, or waive, release or assign any
      material rights or claims thereto or thereunder;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(n) </TD>
    <TD>
      <P align=justify>take any action or fail to take any action, which action
      or failure to act would result in the material loss, expiration or
      surrender of, or the loss of any material benefit under, or reasonably be
      expected to cause any Governmental Entities to institute proceedings for
      the suspension, revocation or limitation of rights under, any material
      Permits necessary to conduct the business of Sunward and its subsidiaries
      as now conducted, or fail to prosecute with commercially reasonable due
      diligence any pending applications to any Governmental Entities for
      regulatory approvals;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(o) </TD>
    <TD>
      <P align=justify>take any action or fail to take any action that is
      intended to, or would reasonably be expected to, individually or in the
      aggregate, prevent, materially delay or materially impede the ability of
      Sunward to consummate the Arrangement or the other transactions
      contemplated by this Agreement; or</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(p) </TD>
    <TD>
      <P align=justify>agree, resolve or commit to do any of the
    foregoing.</P></TD></TR></TABLE>
<P align=right>48 </P>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>5.2</B> </TD>
    <TD>
      <P align=justify><B>Covenants of Sunward Relating to the
      Arrangement</B></P></TD></TR></TABLE>
<P align=justify style="text-indent:5%">Sunward shall, and shall cause its subsidiaries to, perform all
obligations required to be performed by Sunward or any of its subsidiaries under
this Agreement, co-operate with NovaCopper in connection therewith, and do all
such other acts and things as may be necessary or desirable in order to
consummate and make effective, as soon as reasonably practicable, the
transactions contemplated by this Agreement and, without limiting the generality
of the foregoing or the obligations in Section 2.5, Sunward shall and, where
applicable, shall cause its subsidiaries to: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>use commercially reasonable efforts to obtain and assist
      NovaCopper in obtaining all required Key Regulatory Approvals;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>use commercially reasonable efforts to obtain as soon as
      practicable following execution of this Agreement all third party
      consents, approvals and notices required under any material Contracts to
      which Sunward or any of its subsidiaries is a party, and all Key Third
      Party Consents;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>defend all lawsuits or other legal, regulatory or other
      proceedings against Sunward challenging or affecting this Agreement or the
      consummation of the transactions contemplated hereby; provided that
      NovaCopper may, at its option and expense, direct the joint defence of
      NovaCopper and Sunward in respect of any such legal, regulatory or other
      proceedings;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>provide such assistance as may be reasonably requested by
      NovaCopper for the purposes of completing the NovaCopper
Meeting;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(e) </TD>
    <TD>
      <P align=justify>subject to applicable Law, make available and cause to be
      made available to NovaCopper, and its agents and advisors, information
      reasonably requested by NovaCopper for the purposes of preparing,
      considering and implementing integration and strategic plans for the
      combined businesses of NovaCopper and Sunward following completion of the
      Arrangement and confirming the representations and warranties of Sunward
      set out in Section 3.1;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(f) </TD>
    <TD>
      <P align=justify>use commercially reasonable efforts to satisfy all
      conditions precedent in this Agreement and take all steps set forth in the
      Interim Order;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(g) </TD>
    <TD>
      <P align=justify>subject to obtaining confirmation that insurance coverage
      is maintained as contemplated in Section 7.6, and provided that the
      Effective Date has occurred, Sunward will use its commercially reasonable
      efforts to obtain and deliver to NovaCopper at the Effective Time duly
      executed and legally binding resignations, effective as of the Effective
      Date, of each director and officer of Sunward and its subsidiaries as
      NovaCopper may reasonably require, together with corresponding releases in
      favour of Sunward and its subsidiaries, as applicable, each in form and
      substance satisfactory to NovaCopper, acting reasonably;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(h) </TD>
    <TD>
      <P align=justify>deliver to each director and officer who delivers a
      resignation under Section 5.2(g), a release in favour of such resigning
      director or officer, each in form and substance satisfactory to
      NovaCopper, acting reasonably; and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>vote any and all NovaCopper Shares held by it on the
      record date for the NovaCopper Meeting in favour of the issuance of the
      Consideration Shares, the DSU Shares and the reservation for issuance of
      the Option Shares.</P></TD></TR></TABLE>
<P align=right>49 </P>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>5.3</B> </TD>
    <TD>
      <P align=justify><B>Covenants of NovaCopper Regarding the Conduct of
      Business</B></P></TD></TR></TABLE>
<P align=justify style="text-indent:5%">From the date of this Agreement until the earlier of the
Effective Time and the time that this Agreement is terminated in accordance with
its terms, except as required by applicable Laws, consented to by Sunward in
writing, or otherwise expressly contemplated or permitted by this Agreement,
NovaCopper shall, and shall cause each of its subsidiaries to, conduct the
business of NovaCopper and its subsidiaries, taken as a whole, in the ordinary
course consistent with past practice and, to the extent consistent therewith,
use its (and cause each of its subsidiaries to use its) reasonable best efforts
to (i) preserve intact the present business organization of each of NovaCopper
and its subsidiaries, (ii) maintain in effect all material Permits of each of
NovaCopper and its subsidiaries, (iii) keep available the services of present
officers, key employees and key consultants of each of NovaCopper and its
subsidiaries, (iv) comply in all material respects with the terms of each
material Contract to which NovaCopper or any of its subsidiaries is a party, and
(v) preserve intact the material relationships of each of NovaCopper and its
subsidiaries with suppliers and distributors. Without limiting the generality of
the foregoing, from the date of this Agreement until the earlier of the
Effective Time and the time that this Agreement is terminated in accordance with
its terms, except as required by applicable Law or otherwise expressly
contemplated or permitted by this Agreement, NovaCopper shall not, nor shall it
permit any of its subsidiaries to, directly or indirectly, without the prior
written consent of NovaCopper (which consent shall not be unreasonably withheld
or delayed): </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>amend its notice of articles, articles, charter, by-laws
      or other comparable organizational documents to split, combine, reclassify
      or create a new class of any shares in the capital of NovaCopper or any of
      its subsidiaries;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>adopt a plan of liquidation or dissolution providing for
      the liquidation or dissolution of Sunward or any of its
    subsidiaries;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>take any action or fail to take any action, which action
      or failure to act would result in the material loss, expiration or
      surrender of, or the loss of any material benefit under, or reasonably be
      expected to cause any Governmental Entities to institute proceedings for
      the suspension, revocation or limitation of rights under, any material
      Permits necessary to conduct the business of NovaCopper and its
      subsidiaries as now conducted, or fail to prosecute with commercially
      reasonable due diligence any pending applications to any Governmental
      Entities for regulatory approvals;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>take any action or fail to take any action that is
      intended to, or would reasonably be expected to, individually or in the
      aggregate, prevent, materially delay or materially impede the ability of
      NovaCopper to consummate the Arrangement or the other transactions
      contemplated by this Agreement; or</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(e) </TD>
    <TD>
      <P align=justify>agree, resolve or commit to do any of the
    foregoing.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>5.4</B> </TD>
    <TD>
      <P align=justify><B>Covenants of NovaCopper Relating to the
      Arrangement</B></P></TD></TR></TABLE>
<P align=justify style="text-indent:5%">NovaCopper shall, and shall cause its subsidiaries to, perform
all obligations required to be performed by NovaCopper or any of its
subsidiaries under this Agreement, co-operate with Sunward in connection
therewith, and do all such other acts and things as may be necessary or
desirable in order to consummate and make effective, as soon as reasonably
practicable, the transactions contemplated by this Agreement and, without
limiting the generality of the foregoing or the obligations in Section 2.5,
NovaCopper shall and, where applicable, shall cause its subsidiaries to: </P>
<P align=right>50 </P>
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<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD colSpan=2>
      <P align=justify>use commercially reasonable efforts to obtain and assist
      Sunward in obtaining all required Key Regulatory Approvals; provided, that
      nothing contained in this Agreement or the Plan of Arrangement shall
      require, or shall be deemed to require, NovaCopper to accept any
      undertaking or condition or enter into any consent decree or hold separate
      order, to make any divestiture or to accept any operational restriction or
      limitation required by any Governmental Entity;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD colSpan=2>
      <P align=justify>use its commercially reasonable efforts to obtain and
      assist Sunward in obtaining all required Key Third Party
  Consents;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD colSpan=2>
      <P align=justify>defend all lawsuits or other legal, regulatory or other
      proceedings against NovaCopper challenging or affecting this Agreement or
      the consummation of the transactions contemplated hereby;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD colSpan=2>
      <P align=justify>provide such assistance as may be reasonably requested by
      Sunward for the purposes of conducting the Sunward Meeting;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(e) </TD>
    <TD colSpan=2>
      <P align=justify>apply for and use commercially reasonable efforts to
      obtain (i) conditional approval of the listing and posting for trading on
      the TSX of the Consideration Shares, the DSU Shares and reservation for
      listing and posting for trading of the Option Shares, subject only to
      satisfaction by NovaCopper of customary listing conditions of the TSX, and
      (ii) approval of the listing and posting for trading of the Consideration
      Shares, the DSU Shares and reservation for listing and posting for trading
      of the Option Shares, in each case on the NYSE MKT, subject to notice of
      issuance;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(f) </TD>
    <TD colSpan=2>
      <P align=justify>subject to applicable Law, make available and cause to be
      made available to Sunward, and its agents and advisors, information
      reasonably requested by Sunward for the purposes of confirming the
      representations and warranties of NovaCopper set out in Section
  4.1;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(g) </TD>
    <TD colSpan=2>
      <P align=justify>use commercially reasonable efforts to satisfy all
      conditions precedent in this Agreement;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(h) </TD>
    <TD colSpan=2>
      <P align=justify>in accordance with the terms of the Plan of Arrangement,
      at the Effective Time, to the extent applicable, each Sunward Option which
      is outstanding and has not been duly exercised prior to the Effective
      Date, shall be exchanged for a fully-vested option (each, a
      &#147;<B>Arrangement Option</B>&#148;) to purchase from NovaCopper the number of
      Option Shares (rounded down to the nearest whole share) equal to: (i) the
      Exchange Ratio multiplied by(ii) the number of Sunward Shares subject to
      such Sunward Option immediately prior to the Effective Date. Such
      Arrangement Option shall provide for an exercise price per Option Share
      (rounded up to the nearest whole cent) equal to: (x) the exercise price
      per Sunward Share otherwise purchasable pursuant to such Arrangement
      Option; divided by (y) the Exchange Ratio. It is intended that subsection
      7(1.4) of the Tax Act apply to the exchange of Sunward Options.
      Accordingly, and notwithstanding the foregoing, if required, the exercise
      price of an Arrangement Option will be increased such that the In-
      the-Money Amount of the Arrangement Option immediately after the exchange
      does not exceed the In-the-Money Amount of the Sunward Option immediately
      before the exchange. All such Arrangement Options shall expire 90 days
      following the Effective Date. All terms and conditions of an Arrangement
      Option, including the conditions to and manner of exercising, will be the
      same as the Sunward Option for which it was exchanged, and shall be
      governed by the terms of the applicable Sunward Stock Option Plan and any
      certificate or option agreement previously evidencing the Sunward Option
      shall thereafter evidence and be deemed to evidence such Arrangement
      Option. Taxes shall be deducted and withheld in connection with the
      exercise of Arrangement Options to the extent required under applicable
      Law; and</P></TD></TR></TABLE></DIV>
<P align=right>51 </P>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>vote any and all Sunward Shares held by it on the record
      date for the Sunward Meeting in favour of the Arrangement
    Resolution.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>5.5</B> </TD>
    <TD>
      <P align=justify><B>Additional Covenants</B></P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>Sunward shall use its commercially reasonable efforts to
      cause the current insurance (or re-insurance) policies maintained by
      Sunward or any of its subsidiaries, including directors&#146; and officers&#146;
      insurance, not to be cancelled or terminated or any of the coverage
      thereunder to lapse, unless simultaneously with such termination,
      cancellation or lapse, replacement policies underwritten by insurance or
      re-insurance companies of nationally recognized standing having comparable
      deductions and providing coverage equal to or greater than the coverage
      under the cancelled, terminated or lapsed policies for substantially
      similar premiums are in full force and effect;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>Each Party shall promptly notify the other Party in
      writing of any circumstance or development that, to the knowledge of such
      Party, is or could reasonably be expected to constitute a Material Adverse
      Effect with respect to such Party;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>Sunward shall effect such reorganization of its business,
      operations, subsidiaries and assets or such other transactions as
      NovaCopper may reasonably request (each, a &#147;<B>Pre- Acquisition
      Reorganization</B>&#148;) prior to or following the Effective Time, and the
      Plan of Arrangement, if required, shall be modified accordingly; Sunward
      shall use commercially reasonable efforts to obtain all necessary
      consents, approvals or waivers from any persons to effect any such
      Pre-Acquisition Reorganization, and Sunward shall cooperate with
      NovaCopper in structuring, planning and implementing any such
      Pre-Acquisition Reorganization.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>NovaCopper shall provide written notice to Sunward of any
      proposed Pre-Acquisition Reorganization at least ten (10) business days
      prior to the Effective Date. Upon receipt of such notice, Sunward and
      NovaCopper shall work cooperatively and use their commercially reasonable
      efforts to prepare prior to the Effective Time all required documentation
      and do such other acts and things as are necessary to give effect to such
      Pre-Acquisition Reorganization, including any amendment to this Agreement
      or the Plan of Arrangement and shall seek to have any such Pre-Acquisition
      Reorganization made effective (i) as of the last moment of the business
      day ending immediately prior to the Effective Date, (ii) on the Effective
      Date (as part of the Plan of Arrangement or otherwise) or (iii) as the
      Parties may otherwise agree in writing.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(e) </TD>
    <TD>
      <P align=justify>The Parties acknowledge that the acquisition of Sunward
      by NovaCopper pursuant to the Plan of Arrangement and the amalgamation of
      Sunward and ULC pursuant to Section 5.5(f) of this Agreement (together,
      the &#147;<B>Acquisition</B>&#148;), are interdependent steps in a single
      transaction, to which the Parties hereto are legally committed as provided
      herein, and to which the Parties intend to treat as a single integrated
      transaction for U.S. federal income tax purposes.The Acquisition is
      intended to qualify as a reorganization within the meaning of Section
      368(a) of the U.S. Internal Revenue Code (the &#147;<B>Code</B>&#148;) and this
      Agreement is intended to be a &#147;plan of reorganization&#148; within the meaning
      of the U.S. Treasury Regulations promulgated under Section 368 of the
      Code. Each Party, to the extent it is required to make any filings in the
      United States, agrees to treat the Acquisition as a reorganization within
      the meaning of Section 368(a) of the Code for all U.S. federal income tax
      purposes, and agrees to treat this Agreement as a &#147;plan of reorganization&#148;
      within the meaning of the U.S. Treasury Regulations promulgated under
      Section 368 of the Code, and to not take any position on any Tax Return or
      otherwise take any Tax reporting position inconsistent with such
      treatment, unless otherwise required by applicable Law. Notwithstanding
      any representations and covenants set forth in this Agreement, it is
      understood and agreed that neither NovaCopper nor Sunward provide any
      assurances to any Sunward Securityholders regarding the United States
      income tax consequences of the Acquisition or Arrangement to any Sunward
      Securityholder.</P></TD></TR></TABLE>
<P align=right>52 </P>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(f) </TD>
    <TD>
      <P align=justify>As soon as practicable after the Effective Time
      NovaCopper intends that:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>NovaCopper will incorporate a wholly owned subsidiary
      that is an unlimited liability corporation under the BCBCA (&#147;<B>ULC</B>&#148;);
      and</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>ULC will undertake a horizontal short form amalgamation
      under section 274 of the BCBCA and ULC and Sunward shall be continued as
      one unlimited liability corporation (&#147;<B>Merged ULC Company</B>&#148;), in
      accordance with the following:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="15%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(A) </TD>
    <TD>
      <P align=justify>the property of each of the amalgamating corporations
      shall continue to be the property of Merged ULC Company;</P></TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(B) </TD>
    <TD>
      <P align=justify>the Merged ULC Company shall continue to be liable for
      the obligations of each of the amalgamating corporations;</P></TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(C) </TD>
    <TD>
      <P align=justify>any existing cause of action, claim or liability to
      prosecution of each of the amalgamating corporations shall be
      unaffected;</P></TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(D) </TD>
    <TD>
      <P align=justify>upon the issuance of a certificate of amalgamation
      pursuant to section 281 of the BCBCA, all shares in the capital of
      Sunward, including all shares which have been issued and are outstanding
      at the date hereof, shall be cancelled without any repayment of capital in
      respect thereof;</P></TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(E) </TD>
    <TD>
      <P align=justify>Merged ULC Company shall be authorized to issue an
      unlimited number of common shares without par value;</P></TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(F) </TD>
    <TD>
      <P align=justify>the Notice of Articles and Articles of ULC then in
      existence shall be deemed to be the Articles of the Merged ULC
    Company;</P></TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(G) </TD>
    <TD>
      <P align=justify>the registered office of ULC shall be the registered
      office of Merged ULC Company; and</P></TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(H) </TD>
    <TD>
      <P align=justify>the Merged ULC Company will be an unlimited liability
      corporation under the BCBCA.</P></TD></TR></TABLE>
<P align=center><B>ARTICLE 6 <BR></B><B>CONDITIONS </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>6.1</B> </TD>
    <TD>
      <P align=justify><B>Mutual Conditions
Precedent</B></P></TD></TR></TABLE>
<P align=justify style="text-indent:5%">The obligations of the Parties to complete the Arrangement are
subject to the fulfillment of each of the following conditions precedent on or
before the Effective Time, each of which may only be waived with the mutual
consent of the Parties: </P>
<P align=right>53 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>the Arrangement Resolution shall have been approved and
      adopted by the Sunward Shareholders at the Sunward Meeting in accordance
      with the Interim Order;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>the Interim Order and the Final Order shall each have
      been obtained on terms consistent with this Agreement, and shall not have
      been set aside or modified in a manner unacceptable to Sunward or
      NovaCopper, acting reasonably, on appeal or otherwise;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>the NovaCopper Shareholder Approval shall have been
      obtained;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>there shall not exist any prohibition at Law, including
      any final, non-appealable cease trade order, injunction or other
      prohibition or order of any Governmental Entity of competent jurisdiction,
      which shall restrain, enjoin, make illegal or otherwise prohibit or
      prevent the consummation of the Arrangement;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(e) </TD>
    <TD>
      <P align=justify>the Key Regulatory Approvals shall have been
    obtained;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(f) </TD>
    <TD>
      <P align=justify>the Key Third Party Consents shall have been
    obtained;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(g) </TD>
    <TD>
      <P align=justify>(i) the TSX shall have conditionally approved the listing
      and posting for trading on the TSX of the Consideration Shares, Option
      Shares and DSU Shares, subject only to the satisfaction of customary
      listing conditions of the TSX, and (ii) the NYSE MKT shall have approved
      of the listing and posting for trading of the Consideration Shares, the
      DSU Shares and reservation for listing and posting for trading of the
      Option Shares, in each case on the NYSE MKT, subject to notice of
      issuance; and</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(h) </TD>
    <TD>
      <P align=justify>the distribution of the Consideration Shares shall be
      exempt from the prospectus requirements of the Securities Laws in Canada
      and the issuance of the Consideration Shares shall be exempt from the
      registration requirements of the U.S. Securities
Act.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>6.2</B> </TD>
    <TD>
      <P align=justify><B>Additional Conditions Precedent to the Obligations of
      NovaCopper</B></P></TD></TR></TABLE>
<P align=justify style="text-indent:5%">The obligation of NovaCopper to complete the Arrangement is
subject to the fulfillment of each of the following conditions precedent on or
before the Effective Time (each of which is for the exclusive benefit of
NovaCopper and may be waived by it in whole or in part at any time): </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>all covenants of Sunward under this Agreement to be
      performed on or before the Effective Time which have not been waived by
      NovaCopper shall have been duly performed by Sunward in all material
      respects;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>all representations and warranties of Sunward set forth
      in this Agreement shall be true and correct as of the Effective Time, as
      though made as of the Effective Time (except for representations and
      warranties made as of a specified date, the accuracy of which shall be
      determined as of that specified date), except where any failure or
      failures of any such representations and warranties would not reasonably
      be expected to have a Material Adverse Effect with respect to Sunward;
      provided that (i) the representations and warranties of Sunward set forth
      in Sections 3.1(h) and 3.1(ii) shall be true and correct in all respects
      as of the Effective Time, as though made as of the Effective Time; (ii)
      the representations and warranties of Sunward set forth in Section 3.1(f)
      shall be true and correct in all respects as of the Effective Time, as
      though made as of the Effective Time, except for any failures to be so
      true and correct that, individually or in the aggregate, are <I>de minimis
      </I>(it being understood that any failures to be true and correct shall be
      deemed to be &#147;<I>de minimis</I>&#148; if and only if Sunward&#146;s fully diluted
      capitalization as of the applicable determination date does not exceed
      Sunward&#146;s fully diluted capitalization set forth in Section 3.1(f) by more
      than 0.25% in the aggregate); and (iii) the representations and warranties
      of Sunward set forth in Section 3.1(r) shall be true and correct in all
      material respects as of the Effective Time, as though made as of the
      Effective Time;</P></TD></TR></TABLE>
<P align=right>54 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>since the date of this Agreement, there shall not have
      occurred a Material Adverse Effect with respect to Sunward;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>holders of no more than 5% of the Sunward Shares shall
      have exercised Dissent Rights;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(e) </TD>
    <TD>
      <P align=justify>Sunward shall have made all &#147;change of control&#148; payments
      contemplated by the Contracts listed in Schedule 3.1(y)(ii) of the Sunward
      Disclosure Schedule subject to consummation of the Arrangement;
  and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(f) </TD>
    <TD>
      <P align=justify>NovaCopper shall have received a certificate of Sunward
      addressed to NovaCopper and dated the Effective Date, signed on behalf of
      Sunward by two senior executive officers of Sunward (on Sunward&#146;s behalf
      and without personal liability), confirming the matters set forth in this
      Section 6.2 at the Effective Time.</P></TD></TR></TABLE>
<P align=justify style="text-indent:5%">The foregoing conditions will be for the sole benefit of
NovaCopper and may be waived by it in whole or in part at any time. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>6.3</B> </TD>
    <TD>
      <P align=justify><B>Additional Conditions Precedent to the Obligations of
      Sunward</B></P></TD></TR></TABLE>
<P align=justify style="text-indent:5%">The obligation of Sunward to complete the Arrangement is
subject to the fulfillment of each of the following conditions precedent on or
before the Effective Time (each of which is for the exclusive benefit of Sunward
and may be waived by it at whole or in part at any time): </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>all covenants of NovaCopper under this Agreement to be
      performed on or before the Effective Time which have not been waived by
      Sunward shall have been duly performed by NovaCopper in all material
      respects;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>all representations and warranties of NovaCopper set
      forth in this Agreement shall be true and correct as of the Effective
      Time, as though made as of the Effective Time (except for representations
      and warranties made as of a specified date, the accuracy of which shall be
      determined as of that specified date), except where any failure or
      failures of any such representations and warranties would not reasonably
      be expected to have a Material Adverse Effect with respect to NovaCopper;
      provided that (i) the representations and warranties of NovaCopper set
      forth in Sections 4.1(h) and 4.1(hh) shall be true and correct in all
      respects as of the Effective Time, as though made as of the Effective
      Time; and (ii) the representations and warranties of NovaCopper set forth
      in Section 4.1(r) shall be true and correct in all material respects as of
      the Effective Time, as though made as of the Effective Time</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>NovaCopper shall have complied with its obligations under
      Section 2.11 and the Depositary shall have confirmed receipt of the
      Consideration;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>since the date of this Agreement, there shall not have
      occurred a Material Adverse Effect with respect to NovaCopper;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(e) </TD>
    <TD>
      <P align=justify>the Board Nominees shall have been appointed to the
      NovaCopper Board, subject to the consummation of the Arrangement;
    and</P></TD></TR></TABLE>
<P align=right>55 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(f) </TD>
    <TD>
      <P align=justify>Sunward shall have received a certificate of NovaCopper
      addressed to Sunward and dated the Effective Date, signed on behalf of
      NovaCopper by two senior executive officers of NovaCopper (on NovaCopper&#146;s
      behalf and without personal liability), confirming the matters set forth
      in this Section 6.3 at the Effective Time.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>6.4</B> </TD>
    <TD>
      <P align=justify><B>Satisfaction of Conditions</B></P></TD></TR></TABLE>
<P align=justify style="text-indent:5%">The conditions precedent set out in Section 6.1, Section 6.2
and Section 6.3 shall be conclusively deemed to have been satisfied, waived or
released at the Effective Time. </P>
<P align=center><B>ARTICLE 7 <BR>ADDITIONAL AGREEMENTS </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>7.1</B> </TD>
    <TD>
      <P align=justify><B>Notice and Cure Provisions</B></P></TD></TR></TABLE>
<P align=justify style="text-indent:5%">Each Party will give prompt notice to the other of the
occurrence, or failure to occur, at any time from the date hereof until the
earlier to occur of the termination of this Agreement and the Effective Time, of
any event or state of facts which occurrence or failure would, or would be
reasonably likely to: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>cause the representations or warranties of Sunward and
      NovaCopper contained in Sections 3.1(ii) or 4.1(hh), respectively, to be
      untrue or inaccurate in any respect on the date hereof or at the Effective
      Time;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>cause any of the representations or warranties of any
      Party contained herein (other than the representations and warranties
      contained in Sections 3.1(ii) or 4.1(hh)) to be untrue or inaccurate in
      any material respect on the date hereof or at the Effective Time (provided
      that this paragraph (b) shall not apply in the case of any event or state
      of facts resulting from actions or omissions of a Party which are
      expressly permitted or required by this Agreement); or</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>result in the failure to comply with or satisfy any
      covenant, condition or agreement to be complied with or satisfied by any
      Party hereunder prior to the Effective Time.</P></TD></TR></TABLE>
<P align=justify style="text-indent:5%">NovaCopper may not exercise its right to terminate this
Agreement pursuant to Section 8.2(a)(iii)(C) and Sunward may not exercise its
right to terminate this Agreement pursuant to Section 8.2(a)(iv)(C) unless the
Party intending to rely thereon has delivered a written notice to the other
Party specifying in reasonable detail all breaches of covenants, representations
and warranties or other matters which the Party delivering such notice is
asserting as the basis for the non-fulfilment or the applicable condition or
termination right, as the case may be. If any such notice is delivered, provided
that a Party is proceeding diligently to cure such matter and such matter is
capable of being cured, no Party may terminate this Agreement until the
expiration of a period of fifteen (15) business days from such notice, and then
only if such matter has not been cured by such date. If such notice has been
delivered prior to the making of the application for the Final Order, such
application shall be postponed until the expiry of such period. For greater
certainty, in the event that such matter is cured within the time period
referred to herein without a Material Adverse Effect, this Agreement may not be
terminated as a result of the cured breach. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>7.2</B> </TD>
    <TD>
      <P align=justify><B>Non-Solicitation</B></P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>Except as otherwise expressly provided in this Article 7,
      neither Party shall, directly or indirectly, through any officer,
      director, employee, affiliate, representative (including any financial or
      other advisor) or agent of such Party or any of its subsidiaries
      (collectively, the &#147;<B>Representatives</B>&#148;): </P></TD></TR></TABLE>
<P align=right>56 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>solicit, initiate, knowingly encourage or facilitate
      (including by way of furnishing information or entering into any form of
      agreement, arrangement or understanding) the initiation of any inquiries
      or proposals regarding an Acquisition Proposal;</P></TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>participate in any substantive discussions or
      negotiations with any Person (other than the other Party or any of its
      affiliates) regarding an Acquisition Proposal;</P></TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD>
      <P align=justify>approve, accept, endorse or recommend, or publicly
      propose to approve, accept, endorse or recommend, any Acquisition
      Proposal;</P></TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD vAlign=top width="5%">(iv) </TD>
    <TD>
      <P align=justify>accept or enter into or publicly propose to accept or
      enter into, any agreement, understanding or arrangement or other Contract
      in respect of an Acquisition Proposal; or</P></TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD vAlign=top width="5%">(v) </TD>
    <TD>
      <P align=justify>make a Change in
Recommendation.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>Except as otherwise provided in this Article 7, each
      Party shall, and shall cause its subsidiaries and Representatives to,
      immediately cease and cause to be terminated any solicitation,
      encouragement, discussion or negotiation with any Persons conducted
      heretofore by such Party, its subsidiaries or any Representatives with
      respect to any Acquisition Proposal and, in connection therewith, such
      Party will discontinue access to any of its confidential information (and
      not establish or allow access to any of its confidential information, or
      any data room, virtual or otherwise) and shall as soon as possible
      request, to the extent that it is entitled to do so (and exercise all
      rights it has to require) the return or destruction of all confidential
      information regarding such Party and its subsidiaries previously provided
      to any such Person or any other Person and will request (and exercise all
      rights it has to require) the destruction of all material including or
      incorporating or otherwise reflecting any material confidential
      information regarding such Party and its subsidiaries. Each Party agrees
      that neither it nor any of its subsidiaries shall terminate, waive, amend
      or modify any provision of any existing confidentiality agreement relating
      to an Acquisition Proposal or any standstill agreement to which it or any
      of its subsidiaries is a party (it being acknowledged and agreed that the
      automatic termination of any standstill provisions of any such agreement
      as the result of the entering into an announcement of this Agreement by
      such Party, pursuant to the express terms of any such agreement, shall not
      be a violation of this Section 7.2(b)) and each Party undertakes to
      enforce all standstill, non-disclosure, non-disturbance, non- solicitation
      and similar covenants that it or any of its subsidiaries have entered into
      prior to the date hereof, provided that a Party shall not be prevented
      from considering any Superior Proposal if the provisions of this Section
      7.2 are otherwise complied with.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>Notwithstanding Sections 7.2(a) and 7.2(b) and any other
      provision of this Agreement or of any other agreement between the Parties
      or between a Party and any other Person, including the provisions of any
      confidentiality or standstill agreement, if at any time following the date
      of this Agreement and prior to obtaining the approval of the Arrangement
      Resolution at the Sunward Meeting with respect to Sunward and the
      NovaCopper Shareholder Approval at the NovaCopper Meeting with respect to
      NovaCopper, a Party receives a written Acquisition Proposal that the board
      of directors of such Party determines in good faith, after consultation
      with its financial advisors and legal counsel, constitutes or could
      reasonably be expected to result in a Superior Proposal, then such Party
      may, provided it is in compliance with Sections 7.2(a) and 7.2(d):
  </P></TD></TR></TABLE>
<P align=right>57 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_61></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>furnish information with respect to such Party and its
      subsidiaries to the Person making such Acquisition Proposal;
  and/or</P></TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>enter into, participate, facilitate and maintain
      discussions or negotiations with, and otherwise cooperate with or assist,
      the Person making such Acquisition Proposal,</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD>
      <P align=justify>provided that such Party shall not, and shall not allow
      its Representatives to, disclose any non-public information with respect
      to such Party to such Person if (A) such non-public information has not
      been previously provided to, or is not concurrently provided to, the other
      Party hereto and (B) the Party receiving such Acquisition Proposal has not
      entered into a confidentiality agreement with such Person containing terms
      and conditions that are customary for such agreements in the mining
      industry and are no more favourable to such Person than those found in the
      Confidentiality Agreements.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>Each Party shall promptly notify the other Party, at
      first orally and then in writing, within 24 hours of receipt of any
      Acquisition Proposal, including the material terms and conditions thereof,
      and the identity of the Person or Persons making the Acquisition Proposal,
      and shall include copies of any related documentation. The Party receiving
      such Acquisition Proposal shall thereafter also provide such other details
      of such Acquisition Proposal, or any amendment to any of the foregoing, as
      the other Party may reasonably request. Each Party receiving an
      Acquisition Proposal shall promptly keep the other Party fully informed as
      to the status, including any changes to the material terms, of such
      Acquisition Proposal, or any amendment thereto, and shall respond promptly
      to all inquiries from the other Party with respect thereto.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(e) </TD>
    <TD>
      <P align=justify>Notwithstanding anything in this Agreement to the
      contrary, subject to Section 7.2(f) and Section 7.3, (i) if at any time
      following the date of this Agreement and prior to obtaining the Sunward
      Shareholder Approval, Sunward receives an Acquisition Proposal which the
      Sunward Board concludes in good faith constitutes a Superior Proposal,
      then the Sunward Board may, subject to compliance with the procedures set
      forth in Section 8.2 and Section 7.4, terminate this Agreement to enter
      into a definitive agreement with respect to such Superior Proposal; and
      (ii) if at any time following the date of this Agreement and prior to
      obtaining the NovaCopper Shareholder Approval, NovaCopper receives an
      Acquisition Proposal which the NovaCopper Board concludes in good faith
      constitutes a Superior Proposal, then the NovaCopper Board may, subject to
      compliance with the procedures set forth in Section 8.2 and Section 7.4,
      terminate this Agreement to enter into a definitive agreement with respect
      to such Superior Proposal.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(f) </TD>
    <TD>
      <P align=justify>Nothing contained in this Agreement shall prohibit the
      board of directors of either Party, in response to a Superior Proposal,
      from taking any action or making a Change in Recommendation or from making
      any disclosure to any securityholder of such Party prior to the Sunward
      Meeting or the NovaCopper Meeting, as applicable, if, in the good faith
      judgment of such board of directors, after consultation with legal
      counsel, failure to take such action or make such disclosure would be
      inconsistent with the exercise of its fiduciary duties or such action or
      disclosure is otherwise required under applicable Law; provided that
      Sunward shall not make a Change in Recommendation or terminate this
      Agreement pursuant to Section 8.2(a)(iv)(B) if the Sunward Shareholder
      Approval has been obtained and NovaCopper shall not make a Change in
      Recommendation or terminate this Agreement pursuant to Section
      8.2(a)(iii)(B) if the NovaCopper Shareholder Approval has been obtained;
      provided further that, for greater certainty, in the event of a Change in
      Recommendation by the board of directors of a Party and a termination by
      the other Party of this Agreement pursuant to Section 8.2(a)(iii)(A) or
      8.2(a)(iv)(A), as applicable, the Party making such Change in
      Recommendation shall pay the Termination Fee as required by Section 7.4
      prior to or concurrently with such termination.</P></TD></TR></TABLE>
<P align=right>58 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(g) </TD>
    <TD>
      <P align=justify>Subject to the provisions of this Section 7.2 and Section
      7.3, nothing contained in this Agreement shall prevent a Party or the
      board of directors of such Party from calling and holding a meeting of
      such Party&#146;s shareholders, or any of them, requisitioned by such Party&#146;s
      shareholders, or any of them, in accordance with the BCBCA or ordered to
      be held by a court in accordance with applicable
Laws.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>7.3</B> </TD>
    <TD>
      <P align=justify><B>Right to Match</B></P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>Each Party covenants and agrees that it will not make a
      Change in Recommendation or accept, approve, endorse, recommend or enter
      into any agreement, understanding or arrangement in respect of a Superior
      Proposal (other than a confidentiality and standstill agreement permitted
      by Section 7.2(b)) unless:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>the Party receiving such proposal (the &#147;<B>Receiving
      Party</B>&#148;) has complied with its obligations under Section 7.2 and has
      provided the other Party (the &#147;<B>Responding Party</B>&#148;) with a copy of
      all documentation relating to the Superior Proposal; and</P></TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>a period (the &#147;<B>Response Period</B>&#148;) of five (5)
      business days has elapsed from the date that is the later
  of:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(A) </TD>
    <TD>
      <P align=justify>the date on which the Responding Party receives written
      notice from the board of directors of the Receiving Party that such board
      of directors has determined, subject only to compliance with this Section
      7.3, to make a Change in Recommendation or accept, approve, endorse,
      recommend or enter into a definitive agreement with respect to such
      Superior Proposal; and</P></TD></TR>
  <TR>
    <TD width="15%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%">&nbsp;</TD>
    <TD vAlign=top width="5%">(B) </TD>
    <TD>
      <P align=justify>the date the Responding Party receives all documentation
      relating to the Superior Proposal.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>During the Response Period, the Responding Party will
      have the right, but not the obligation, to offer to amend this Agreement
      and the Plan of Arrangement. The board of directors of the Receiving Party
      shall review any such offer by the Responding Party to amend this
      Agreement and the Plan of Arrangement to determine whether the Acquisition
      Proposal to which the Responding Party is responding would continue to be
      a Superior Proposal when assessed against the Arrangement as it is
      proposed in writing by the Responding Party to be amended. If the board of
      directors of the Receiving Party determines that the Acquisition Proposal
      no longer constitutes a Superior Proposal, such board of directors will
      cause the Receiving Party to enter into an amendment to this Agreement
      with the Responding Party incorporating the amendments to the Agreement
      and Plan of Arrangement as set out in the written offer to amend, and will
      promptly reaffirm its recommendation of the Arrangement by the prompt
      issuance of a press release to that effect. If the board of directors of
      the Receiving Party determines that the Acquisition Proposal continues to
      be a Superior Proposal, the Receiving Party may approve and recommend that
      shareholders of the Receiving Party accept such Superior Proposal and may
      terminate this Agreement pursuant to Section 8.2(a)(iii)(B) or Section
      8.2(a)(iv)(B), as applicable, in order to accept or enter into an
      agreement, understanding or arrangement to proceed with the Superior
      Proposal.</P></TD></TR></TABLE>
<P align=right>59 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>Each successive amendment to any Acquisition Proposal
      that results in an increase in, or modification of, the consideration (or
      value of such consideration) to be received by the shareholders of the
      Receiving Party shall constitute a new Acquisition Proposal for the
      purposes of this Section 7.3 and the Responding Party shall be afforded a
      new Response Period and the rights afforded in Section 7.3(b) in respect
      of each such Acquisition Proposal.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>Where at any time within ten (10) days before the Sunward
      Meeting or the NovaCopper Meeting, as applicable, the Receiving Party has
      provided the Responding Party with a notice under Section 7.3(a) hereof,
      an Acquisition Proposal has been publicly disclosed or announced, and the
      Response Period has not elapsed, then, subject to applicable Laws, at the
      Responding Party&#146;s request, the Receiving Party will postpone or adjourn
      the Sunward Meeting or the NovaCopper Meeting, as applicable, to a date
      acceptable to the Responding Party, acting reasonably, which shall not be
      later than ten (10) days after the scheduled date of the Sunward Meeting
      or the NovaCopper Meeting, as applicable, and shall, in the event that the
      Parties amend the terms of this Agreement pursuant to Section 7.3(b),
      ensure that the details of such amended Agreement are communicated to the
      shareholders as the Receiving Party prior to the resumption of the
      adjourned meeting.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>7.4</B> </TD>
    <TD>
      <P align=justify><B>Expenses and Termination
Fees</B></P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>Except as otherwise provided herein, all fees, costs and
      expenses incurred in connection with this Agreement and the Plan of
      Arrangement shall be paid by the Party incurring such fees, costs or
      expenses.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>If a Sunward Termination Fee Event occurs, Sunward shall
      pay NovaCopper (by wire transfer of immediately available funds) the
      Termination Fee in accordance with Section 7.4(d).</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>For the purposes of this Agreement, &#147;<B>Sunward
      Termination Fee Event</B>&#148; means the termination of this
  Agreement:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>by NovaCopper, pursuant to Section
  8.2(a)(iii)(A);</P></TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>by Sunward, pursuant to Section 8.2(a)(iv)(B);</P></TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD>
      <P align=justify>by NovaCopper, pursuant to Section 8.2(a)(iii)(F);
    or</P></TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD vAlign=top width="5%">(iv) </TD>
    <TD>
      <P align=justify>by either Party pursuant to Section 8.2(a)(ii)(C), but
      only if, in the case of this paragraph (iv), prior to the earlier of the
      termination of this Agreement or the holding of the Sunward Meeting, a
      <I>bona fide </I>Acquisition Proposal with respect to Sunward shall have
      been made to Sunward or publicly announced by any Person (other than
      NovaCopper or any of its affiliates) and within twelve (12) months
      following the date of such termination:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(A) </TD>
    <TD>
      <P align=justify>any Acquisition Proposal with respect to Sunward is
      consummated; or</P></TD></TR></TABLE>
<P align=right>60 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="15%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(B) </TD>
    <TD>
      <P align=justify>Sunward and/or one or more of its subsidiaries enters
      into a definitive agreement in respect of any Acquisition Proposal which
      is subsequently consummated at any time
thereafter;</P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 15%" align=justify><I>provided that</I>, for the purposes
of this Section 7.4(c)(iv), all references to &#147;20%&#148; in the definition of
&#147;Acquisition Proposal&#148; shall be deemed to be references to &#147;50%&#148;. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>If a Sunward Termination Fee Event occurs in the
      circumstances set out in Section 7.4(c)(ii), the Termination Fee shall be
      payable simultaneously with the occurrence of such Sunward Termination Fee
      Event. If a Sunward Termination Fee Event occurs in the circumstances set
      out in Section 7.4(c)(i) or 7.4(c)(iii), the Termination Fee shall be
      payable within two (2) business days following the occurrence of such
      Sunward Termination Fee Event. If a Sunward Termination Fee Event occurs
      in the circumstances set out in Section 7.4(c)(iv), the Termination Fee
      shall be payable within two (2) business days following the closing of the
      applicable transaction referred to therein.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(e) </TD>
    <TD>
      <P align=justify>If a NovaCopper Termination Fee Event occurs, NovaCopper
      shall pay Sunward (by wire transfer of immediately available funds) the
      Termination Fee in accordance with Section 7.4(g).</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(f) </TD>
    <TD>
      <P align=justify>For the purposes of this Agreement, &#147;<B>NovaCopper
      Termination Fee Event</B>&#148; means the termination of this
  Agreement:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>by Sunward, pursuant to Section 8.2(a)(iv)(A);</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>by NovaCopper, pursuant to Section
  8.2(a)(iii)(B);</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD>
      <P align=justify>by Sunward, pursuant to Section 8.2(a)(iv)(F);
  or</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iv) </TD>
    <TD>
      <P align=justify>by either Party pursuant to Section 8.2(a)(ii)(D), but
      only if, in the case of this paragraph (iv), prior to the earlier of the
      termination of this Agreement or the holding of the NovaCopper Meeting, a
      <I>bona fide </I>Acquisition Proposal with respect to NovaCopper shall
      have been made to NovaCopper or publicly announced by any Person and
      within twelve (12) months following the date of such
  termination:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="15%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(A) </TD>
    <TD>
      <P align=justify>any Acquisition Proposal with respect to NovaCopper is
      consummated; or</P></TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(B) </TD>
    <TD>
      <P align=justify>NovaCopper and/or one or more of its subsidiaries enters
      into a definitive agreement in respect of any Acquisition Proposal which
      is subsequently consummated at any time
thereafter;</P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 15%" align=justify><I>provided that</I>, for the purposes
of this Section 7.4(f)(iv), all references to &#147;20%&#148; in the definition of
&#147;Acquisition Proposal&#148; shall be deemed to be references to &#147;50%&#148;. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(g) </TD>
    <TD>
      <P align=justify>If a NovaCopper Termination Fee Event occurs in the
      circumstances set out in Section 7.4(f)(ii), the Termination Fee shall be
      payable simultaneously with the occurrence of such NovaCopper Termination
      Fee Event. If a NovaCopper Termination Fee Event occurs in the
      circumstances set out in Section 7.4(f)(i) or 7.4(f)(iii), the Termination
      Fee shall be payable within two (2) business days following
      the occurrence of such NovaCopper Termination Fee Event. If a NovaCopper
      Termination Fee Event occurs in the circumstances set out in Section
      7.4(f)(iv), the Termination Fee shall be payable within two (2) business
      days following the closing of the applicable transaction referred to
  therein.</P></TD></TR></TABLE>
<P align=right>61 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(h) </TD>
    <TD>
      <P align=justify>Each of the Parties acknowledges that the agreements
      contained in this Section 7.4 are an integral part of the transactions
      contemplated by this Agreement and that, without those agreements, the
      Parties would not enter into this Agreement. Each Party acknowledges that
      all of the payment amounts set out in this Section 7.4 are payments of
      liquidated damages that are a genuine estimate of the damages which the
      Party entitled thereto would suffer or incur as a result of the event
      giving rise to such payment and the resultant termination of this
      Agreement and are not penalties. The Parties irrevocably waive any right
      either may have to raise as a defense that any such liquidated damages are
      excessive or punitive. For greater certainty, each Party agrees that, upon
      any termination of this Agreement under circumstances where either Party
      is entitled to the Termination Fee and such Termination Fee is paid in
      full, except where the Party paying the Termination Fee willfully and
      intentionally breached Section 7.2, the Party receiving the Termination
      Fee shall be precluded from any other remedy against the other Party at
      law or in equity or otherwise (including an order for specific
      performance), and shall not seek to obtain any recovery, judgment or
      damages of any kind, including consequential, indirect, or punitive
      damages, against such Party or any of its subsidiaries or any of their
      respective directors, officers, employees, partners, managers, members,
      shareholders or affiliates in connection with this Agreement or the
      transactions contemplated hereby.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>In no event shall the Parties be obligated to pay an
      amount in respect of the termination of this Agreement that is, in
      aggregate, in excess of the Termination Fee and under no circumstances is
      the Termination Fee payable more than once.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>7.5</B> </TD>
    <TD>
      <P align=justify><B>Access to Information;
  Confidentiality</B></P></TD></TR></TABLE>
<P align=justify style="text-indent:5%">From the date hereof until the earlier of the Effective Time
and the termination of this Agreement, subject to compliance with applicable Law
and the terms of any existing Contracts, Sunward shall, and shall cause its
subsidiaries and their respective officers, directors, employees, independent
auditors, accounting advisers and agents to, afford to NovaCopper and to the
officers, employees, agents and representatives of NovaCopper such access as
NovaCopper may reasonably require at all reasonable times, including for the
purpose of facilitating integration business planning, to their officers,
employees, agents, properties, books, records and Contracts, and shall furnish
NovaCopper with all data and information as NovaCopper may reasonably request.
NovaCopper and Sunward acknowledge and agree that information furnished pursuant
to this Section 7.5 shall be subject to the terms and conditions of the
Confidentiality Agreement.</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>7.6</B> </TD>
    <TD>
      <P align=justify><B>Insurance and
Indemnification</B></P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>Prior to the Effective Time, Sunward shall obtain and
      fully pay the premiums for a non- cancellable extension of the directors&#146;
      and officers&#146; liability coverage of Sunward&#146;s existing directors&#146; and
      officers&#146; insurance policies and Sunward&#146;s existing fiduciary liability
      insurance policies (collectively, the &#147;<B>D&amp;O Insurance</B>&#148;), in each
      case for a claims reporting or discovery period of up to six (6) years
      from and after the Effective Time with respect to any claim related to any
      period of time at or prior to the Effective Time from Sunward&#146;s current
      D&amp;O Insurance carriers or one or more insurance carriers with the same
      or better credit rating as Sunward&#146;s current D&amp;O Insurance carriers
      with respect to directors&#146; and officers&#146; insurance policies in
      an amount and scope at least as favorable as the D&amp;O Insurance;
      provided, however, that in no event shall Sunward pay aggregate premiums
      for such &#147;tail&#148; insurance policies in excess of 250% of the aggregate
      annual premium for directors&#146; and officers&#146; liability policies currently
      maintained by Sunward; provided further, that if the aggregate premiums
      payable for such &#147;tail&#148; insurance policies exceed such amount, Sunward
      shall obtain &#147;tail&#148; insurance policies with the greatest coverage
      available, with respect to matters occurring prior to the Effective Time,
for a cost not exceeding such amount.</P></TD></TR></TABLE>
<P align=right>62 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>NovaCopper agrees that it shall cause Sunward to honour
      all rights to indemnification or exculpation now existing in favour of
      present and former officers and directors of Sunward and its subsidiaries
      to the extent that they are disclosed in Schedule 7.6(b) of the Sunward
      Disclosure Letter, and acknowledges that such rights, to the extent that
      they are disclosed in Schedule 7.6(b) of the Sunward Disclosure Letter,
      shall survive the completion of the Plan of Arrangement and shall continue
      in full force and effect for a period of not less than six (6) years from
      the Effective Date.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>The provisions of this Section 7.6 are intended for the
      benefit of, and shall be enforceable by, each insured or indemnified
      person, his or her heirs and his or her legal representatives and, for
      such purpose, Sunward hereby confirms that it is acting as agent and
      trustee on their behalf. Furthermore, this Section 7.6 shall survive the
      termination of this Agreement as a result of the occurrence of the
      Effective Date for a period of six (6) years.</P></TD></TR></TABLE>
<P align=center><B>ARTICLE 8 <BR></B><B>TERM, TERMINATION, AMENDMENT AND WAIVER
</B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>8.1</B> </TD>
    <TD>
      <P align=justify><B>Term</B></P></TD></TR></TABLE>
<P align=justify style="text-indent:5%">This Agreement shall be effective from the date hereof until
the earlier of the Effective Time and the termination of this Agreement in
accordance with its terms. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>8.2</B> </TD>
    <TD>
      <P align=justify><B>Termination</B></P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>This Agreement may be terminated and the Arrangement may
      be abandoned at any time prior to the Effective Time (notwithstanding the
      Sunward Shareholder Approval or NovaCopper Shareholder Approval having
      been obtained or the approval of the Arrangement by the
  Court):</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>by mutual written agreement of Sunward and NovaCopper;
      or</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>by either Sunward or NovaCopper,
if:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="15%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(A) </TD>
    <TD>
      <P align=justify>the Effective Time shall not have occurred on or before
      the Outside Date, except that the right to terminate this Agreement under
      this Section 8.2(a)(ii)(A) shall not be available to any Party whose
      failure to fulfill any of its obligations or whose breach of any of its
      representations and warranties under this Agreement has been the cause of,
      or resulted in, the failure of the Effective Time to occur by such Outside
      Date; or</P></TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(B) </TD>
    <TD>
      <P align=justify>after the date hereof, there exists any final and
      non-appealable prohibition at Law, including any cease trade order,
injunction or other prohibition or order of any Governmental Entity of competent jurisdiction, which shall restrain, enjoin, make illegal or otherwise prohibit or prevent the consummation of the Arrangement; or</P></TD></TR></TABLE>
<P align=right>63 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="15%">&nbsp;</TD>
    <TD vAlign=top width="5%">(C) </TD>
    <TD>
      <P align=justify>the Arrangement Resolution shall have failed to obtain
      the Sunward Shareholder Approval at the Sunward Meeting (including any
      adjournment or postponement thereof) in accordance with the Interim Order;
      or</P></TD></TR>
  <TR>
    <TD width="15%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%">&nbsp;</TD>
    <TD vAlign=top width="5%">(D) </TD>
    <TD>
      <P align=justify>the NovaCopper Shareholders shall have failed to approve
      the issuance or reservation for issuance, as the case may be, by
      NovaCopper of such number of NovaCopper Shares as may be required to be
      issued pursuant to the Plan of Arrangement, the and the transactions
      contemplated by this Agreement at the NovaCopper Meeting (including any
      adjournment or postponement thereof); or</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD>
      <P align=justify>by NovaCopper, if:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(A) </TD>
    <TD>
      <P align=justify>the Sunward Board makes a Change in Recommendation;
    or</P></TD></TR>
  <TR>
    <TD width="15%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%">&nbsp;</TD>
    <TD vAlign=top width="5%">(B) </TD>
    <TD>
      <P align=justify>the NovaCopper Board authorizes NovaCopper, subject to
      complying with the terms of this Agreement, to enter into a legally
      binding agreement with respect to a Superior Proposal; provided that
      concurrently with such termination, NovaCopper pays the Termination Fee
      payable pursuant to Section 7.4; or</P></TD></TR>
  <TR>
    <TD width="15%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%">&nbsp;</TD>
    <TD vAlign=top width="5%">(C) </TD>
    <TD>
      <P align=justify>any of the conditions set forth in Sections 6.1 or 6.2
      are not satisfied, and such condition is incapable of being satisfied by
      the Outside Date; provided that NovaCopper is not then in breach of this
      Agreement so as to cause any of the conditions set forth in Sections 6.1
      or 6.2 not to be satisfied; or</P></TD></TR>
  <TR>
    <TD width="15%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%">&nbsp;</TD>
    <TD vAlign=top width="5%">(D) </TD>
    <TD>
      <P align=justify>subject to Section 7.1, including the cure period set
      forth therein, a representation or warranty of Sunward contained in this
      Agreement shall be inaccurate or shall have become inaccurate as of a date
      subsequent to the date of this Agreement (as if made on such subsequent
      date), or a material failure to perform any covenant or agreement on the
      part of Sunward set forth in this Agreement (other than as set forth in
      Section 7.2) shall have occurred, in each case that would cause one or
      more conditions set forth in Section 6.1 or Section 6.2 not to be
      satisfied, and such conditions are incapable of being satisfied by the
      Outside Date; provided that NovaCopper is not then in breach of this
      Agreement so as to cause any of the conditions set forth in Section 6.1 or
      Section 6.3 not to be satisfied; or</P></TD></TR>
  <TR>
    <TD width="15%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%">&nbsp;</TD>
    <TD vAlign=top width="5%">(E) </TD>
    <TD>
      <P align=justify>Sunward is in breach or in default of any of its
      obligations or covenants set forth in Section 7.2, other than an
      immaterial breach of Sunward&#146;s obligation under Section 7.2 to provide
      notice of an Acquisition Proposal to NovaCopper within a prescribed
      period; or</P></TD></TR>
  <TR>
    <TD width="15%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%">&nbsp;</TD>
    <TD vAlign=top width="5%">(F) </TD>
    <TD>
      <P align=justify>the Sunward Board authorizes Sunward to enter into a
      binding written agreement relating to a Superior Proposal;
  or</P></TD></TR></TABLE>
<P align=right>64 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(iv) </TD>
    <TD>
      <P align=justify>by Sunward, if:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="15%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(A) </TD>
    <TD>
      <P align=justify>the NovaCopper Board makes a Change in Recommendation;
      or</P></TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(B) </TD>
    <TD>
      <P align=justify>the Sunward Board authorizes Sunward, subject to
      complying with the terms of this Agreement, to enter into a legally
      binding agreement with respect to a Superior Proposal; provided that
      concurrently with such termination, Sunward pays the Termination Fee
      payable pursuant to Section 7.4; or</P></TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(C) </TD>
    <TD>
      <P align=justify>any of the conditions set forth in Sections 6.1 or 6.3 is
      not satisfied, and such conditions is incapable of being satisfied by the
      Outside Date; provided that Sunward is not then in breach of this
      Agreement so as to cause any of the conditions set forth in Sections 6.1
      or 6.3 not to be satisfied; or</P></TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(D) </TD>
    <TD>
      <P align=justify>subject to Section 7.1, including the cure period set
      forth therein, a representation or warranty of NovaCopper contained in
      this Agreement shall be inaccurate or shall have become inaccurate as of a
      date subsequent to the date of this Agreement (as if made on such
      subsequent date), or a material failure to perform any covenant or
      agreement on the part of NovaCopper set forth in this Agreement (other
      than as set forth in Section 7.2) shall have occurred, in each case that
      would cause one or more conditions set forth in Section 6.1 or Section 6.3
      not to be satisfied, and such conditions are incapable of being satisfied
      by the Outside Date; provided that Sunward is not then in breach of this
      Agreement so as to cause any of the conditions set forth in Section 6.1 or
      Section 6.2 not to be satisfied;</P></TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(E) </TD>
    <TD>
      <P align=justify>NovaCopper is in breach or in default of any of its
      obligations or covenants set forth in Section 7.2, other than an
      immaterial breach of NovaCopper&#146;s obligation under Section 7.2 to provide
      notice of an Acquisition Proposal to Sunward within a prescribed period;
      or</P></TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(F) </TD>
    <TD>
      <P align=justify>the NovaCopper Board authorizes NovaCopper to enter into
      a binding written agreement relating to a Superior
  Proposal.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>The Party desiring to terminate this Agreement pursuant
      to this Section 8.2 (other than pursuant to Section 8.2(a)(i)) shall give
      notice of such termination to the other Party.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>If this Agreement is terminated pursuant to this Section
      8.2, this Agreement shall become void and of no effect without liability
      of any Party (or any shareholder, director, officer, employee, agent,
      consultant or representative of such Party) to any other Party hereto,
      except as otherwise expressly contemplated hereby, and provided that the
      provisions of this Section 8.2(c), Sections 7.4, 9.1, 9.2, 9.3, 9.6, 9.7,
      9.8 and 9.9 shall survive any termination hereof; provided further that
      neither the termination of this Agreement nor anything contained in this
      Section 8.2 shall relieve a Party from any liability arising on or prior
      to such termination.</P></TD></TR></TABLE>
<P align=right>65 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>8.3</B> </TD>
    <TD>
      <P align=justify><B>Amendment</B></P></TD></TR></TABLE>
<P align=justify style="text-indent:5%">This Agreement and the Plan of Arrangement may, at any time and
from time to time before or after the holding of the Sunward Meeting but not
later than the Effective Time, be amended by mutual written agreement of the
Parties, and any such amendment may, subject to the Interim Order and the Final
Order and applicable Law, without limitation: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>change the time for performance of any of the obligations
      or acts of the Parties;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>waive any inaccuracies or modify any representation or
      warranty contained herein or in any document delivered pursuant
    hereto;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>waive compliance with or modify any of the covenants
      herein contained and waive or modify performance of any of the obligations
      of the Parties;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>waive compliance with or modify any mutual conditions
      precedent herein contained; and/or</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(e) </TD>
    <TD>
      <P align=justify>amend the steps comprising the
  Arrangement.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>8.4</B> </TD>
    <TD>
      <P align=justify><B>Waiver</B></P></TD></TR></TABLE>
<P align=justify style="text-indent:5%">Any Party may:</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>extend the time for the performance of any of the
      obligations or acts of the other Party;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>waive compliance, except as provided herein, with any of
      the other Party&#146;s agreements or the fulfillment of any conditions to its
      own obligations contained herein; or</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>waive inaccuracies in any of the other Party&#146;s
      representations or warranties contained herein or in any document
      delivered by the other Party,</P></TD></TR></TABLE>
<P align=justify>provided, however, that any such extension or waiver shall be
valid only if set forth in an instrument in writing signed on behalf of such
Party and, unless otherwise provided in the written waiver, will be limited to
the specific breach or condition waived. No failure or delay by any Party in
exercising any right, power or privilege hereunder shall operate as a waiver
thereof nor shall any single or partial exercise thereof preclude any other or
further exercise. </P>
<P align=center><B>ARTICLE 9 <BR>GENERAL PROVISIONS </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>9.1</B> </TD>
    <TD>
      <P align=justify><B>Privacy</B></P></TD></TR></TABLE>
<P align=justify style="text-indent:5%">Each Party shall comply with applicable privacy Laws in the
course of collecting, using and disclosing personal information about an
identifiable individual (the &#147;<B>Transaction Personal Information</B>&#148;). Neither
Party shall disclose Transaction Personal Information to any Person other than
to its advisors who are evaluating and advising on the transactions contemplated
by this Agreement. If the Arrangement is consummated, neither Party shall,
following the Effective Date, without the consent of the individuals to whom
such Transaction Personal Information relates or as permitted or required by
applicable Law, use or disclose Transaction Personal Information: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>for purposes other than those for which such Transaction
      Personal Information was collected prior to the Effective
  Date;</P></TD></TR></TABLE>
<P align=right>66 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_70></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>which does not relate directly to the carrying on of the
      business of such Party or to the carrying out of the purposes for which
      the transactions contemplated by this Agreement were implemented;
    and</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>as otherwise required by Law.</P></TD></TR></TABLE>
<P align=justify style="text-indent:5%">Each Party shall protect and safeguard the Transaction Personal
Information against unauthorized collection, use or disclosure. Each Party shall
cause its advisors to observe the terms of this Section 9.1 and to protect and
safeguard Transaction Personal Information in their possession. If this
Agreement shall be terminated, each Party shall promptly deliver to the other
Party all Transaction Personal Information relating to such other Party or its
Representatives in such Party&#146;s possession or in the possession of any of such
Party&#146;s Representatives, including all copies, reproductions, summaries or
extracts thereof. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>9.2</B> </TD>
    <TD>
      <P align=justify><B>Notices</B></P></TD></TR></TABLE>
<P align=justify style="text-indent:5%">All notices and other communications given or made pursuant
hereto shall be in writing and shall be deemed to have been duly given or made
as of the date delivered if delivered personally or if sent by facsimile or
e-mail transmission, on a business day between the hours of midnight and 5:00
p.m. recipient local time on that business day, provided if it is received later
or not on a business day, then the next business day, or as of the following
business day if sent by prepaid overnight courier, to the Parties at the
following addresses (or at such other addresses as shall be specified by any
Party by notice to the other given in accordance with these provisions): </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>if to Sunward:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left colSpan=2>Sunward Resources Ltd. </TD></TR>
  <TR vAlign=top>
    <TD width="10%">&nbsp;</TD>
    <TD align=left colSpan=2>Suite 1410, 1090 West Georgia Street </TD></TR>
  <TR vAlign=top>
    <TD width="10%">&nbsp;</TD>
    <TD align=left>Vancouver, BC </TD>
    <TD align=left width="80%">V6E 3V7 </TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD>&nbsp; </TD>
    <TD width="80%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD width="10%">&nbsp;</TD>
    <TD align=left>Attention: </TD>
    <TD align=left width="80%">Chief Executive Officer </TD></TR>
  <TR vAlign=top>
    <TD width="10%">&nbsp;</TD>
    <TD align=left>Facsimile: </TD>
    <TD align=left width="80%">604-677-1766 </TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD>&nbsp; </TD>
    <TD width="80%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD width="10%">&nbsp;</TD>
    <TD align=left colSpan=2>with a copy (which shall not constitute notice)
      to: </TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD>&nbsp; </TD>
    <TD width="80%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD width="10%">&nbsp;</TD>
    <TD align=left colSpan=2>Anfield Sujir Kennedy &amp; Durno LLP </TD></TR>
  <TR vAlign=top>
    <TD width="10%">&nbsp;</TD>
    <TD align=left colSpan=2>1600 &#150; 609 Granville Street </TD></TR>
  <TR vAlign=top>
    <TD width="10%">&nbsp;</TD>
    <TD align=left colSpan=2>Vancouver, BC V7Y 1C3 </TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD>&nbsp; </TD>
    <TD width="80%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD width="10%">&nbsp;</TD>
    <TD align=left>Attention: </TD>
    <TD align=left width="80%">Jay Sujir </TD></TR>
  <TR vAlign=top>
    <TD width="10%">&nbsp;</TD>
    <TD align=left>Facsimile: </TD>
    <TD align=left width="80%">604-669-3877 </TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>if to NovaCopper:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left colSpan=2>NovaCopper Inc. </TD></TR>
  <TR vAlign=top>
    <TD width="10%">&nbsp;</TD>
    <TD align=left colSpan=2>Suite 1950 - 777 Dunsmuir Street </TD></TR>
  <TR vAlign=top>
    <TD width="10%">&nbsp;</TD>
    <TD align=left>Vancouver, BC </TD>
    <TD align=left width="80%">V7Y 1K4 </TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD>&nbsp; </TD>
    <TD width="80%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD width="10%">&nbsp;</TD>
    <TD align=left>Attention: </TD>
    <TD align=left width="80%">Chief Executive Officer </TD></TR>
  <TR vAlign=top>
    <TD width="10%">&nbsp;</TD>
    <TD align=left>Facsimile: </TD>
    <TD align=left width="80%">604-638-8088 </TD></TR></TABLE>
<P align=right>67 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_71></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="10%"  >&nbsp;</TD>
    <TD align=left colSpan=2>with a copy (which shall not constitute notice)
      to: </TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD >&nbsp; </TD>
    <TD width="80%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left colSpan=2>Blake, Cassels &amp; Graydon LLP </TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left colSpan=2>595 Burrard Street, Suite 2600 </TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left colSpan=2>P.O. Box 49314, Three Bentall Centre </TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left colSpan=2>Vancouver, BC V7X 1L3 </TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD >&nbsp; </TD>
    <TD width="80%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left >Attention: </TD>
    <TD align=left width="80%">Trisha Robertson </TD></TR>
  <TR vAlign=top>
    <TD width="10%" >&nbsp;</TD>
    <TD align=left >Facsimile: </TD>
    <TD align=left width="80%">604-631-3309 </TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>9.3</B> </TD>
    <TD>
      <P align=justify><B>Governing Law; Waiver of Jury
  Trial</B></P></TD></TR></TABLE>
<P align=justify style="text-indent:5%">This Agreement shall be governed, including as to validity,
interpretation and effect, by the Laws of the Province of British Columbia and
the Laws of Canada applicable therein. Each of the Parties hereby irrevocably
attorns to the jurisdiction of the Courts of the Province of British Columbia in
respect of all matters arising under and in relation to this Agreement and the
Arrangement. EACH PARTY TO THIS AGREEMENT HEREBY WAIVES ANY RIGHT TO TRIAL BY
JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT
OR OTHERWISE) ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS
CONTEMPLATED HEREBY OR THE ACTIONS OF THE PARTIES IN THE NEGOTIATION,
ADMINISTRATION, PERFORMANCE AND ENFORCEMENT OF THIS AGREEMENT. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>9.4</B> </TD>
    <TD>
      <P align=justify><B>Injunctive Relief</B></P></TD></TR></TABLE>
<P align=justify style="text-indent:5%">Subject to Section 7.4, the Parties agree that irreparable harm
would occur for which monetary damages would not be an adequate remedy at law in
the event that any of the provisions of this Agreement were not performed in
accordance with their specific terms or were otherwise breached. It is
accordingly agreed that the Parties shall be entitled to seek an injunction or
injunctions and other equitable relief to prevent breaches of this Agreement and
to enforce specifically the terms and provisions of this Agreement, this being
in addition to any other remedy at law (including monetary damages) or in
equity, and the Parties hereby waive any requirement for the posting of any bond
or similar collateral in connection therewith. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>9.5</B> </TD>
    <TD>
      <P align=justify><B>Time of Essence</B></P></TD></TR></TABLE>
<P align=justify style="text-indent:5%">Time shall be of the essence in this Agreement. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>9.6</B> </TD>
    <TD>
      <P align=justify><B>Entire Agreement, Binding Effect and
    Assignment</B></P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>This Agreement shall be binding on and shall enure to the
      benefit of the Parties and their respective successors.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>Except as expressly permitted by the terms hereof,
      neither this Agreement nor any of the rights, interests or obligations
      hereunder may be assigned by any Party without the prior written consent
      of the other Party.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>This Agreement (including the exhibits and schedules
      hereto, the Sunward Disclosure Letter and the NovaCopper Disclosure
      Letter) and the Confidentiality Agreement constitute the entire agreement
      between the Parties, and supersede all other prior agreements and
      understandings, both written and oral, between the Parties, or any of
      them, with respect to the subject matter hereof and thereof. No
representation, warranty, inducement, promise, understanding or condition not set forth in this Agreement has been made or relied upon by any of the Parties. </P></TD></TR></TABLE>
<P align=right>68 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_72></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>9.7</B> </TD>
    <TD>
      <P align=justify><B>Severability</B></P></TD></TR></TABLE>
<P align=justify style="text-indent:5%">If any term or other provision of this Agreement is invalid,
illegal or incapable of being enforced by any rule or Law or public policy, all
other conditions and provisions of this Agreement shall nevertheless remain in
full force and effect so long as the economic or legal substance of the
transactions contemplated hereby is not affected in any manner materially
adverse to any Party. Upon such determination that any term or other provision
is invalid, illegal or incapable of being enforced, the Parties shall negotiate
in good faith to modify this Agreement so as to effect the original intent of
the Parties as closely as possible in an acceptable manner to the end that the
transactions contemplated hereby are fulfilled to the fullest extent possible.
</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>9.8</B> </TD>
    <TD>
      <P align=justify><B>No Third Party
Beneficiaries</B></P></TD></TR></TABLE>
<P align=justify style="text-indent:5%">Except with respect to directors and officers of Sunward
pursuant to Section 7.6, the Parties hereby agree that their respective
representations, warranties, covenants and agreements set forth herein are
solely for the benefit of the other Party hereto, in accordance with and subject
to the terms of this Agreement, and this Agreement is not intended to, and does
not, confer upon any Person other than the parties hereto any rights or remedies
hereunder, including the right to rely upon the representations and warranties
set forth herein. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>9.9</B> </TD>
    <TD>
      <P align=justify><B>Rules of Construction</B></P></TD></TR></TABLE>
<P align=justify style="text-indent:5%">The Parties have participated jointly in negotiating and
drafting this Agreement. If an ambiguity or a question of intent or
interpretation arises, this Agreement shall be construed as if drafted jointly
by the Parties, and no presumption or burden of proof shall arise favouring or
disfavouring any Party by virtue of the authorship of any provision of this
Agreement. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>9.10</B> </TD>
    <TD>
      <P align=justify><B>Counterparts, Execution</B></P></TD></TR></TABLE>
<P align=justify style="text-indent:5%">This Agreement may be executed in two or more counterparts,
each of which shall be deemed to be an original but all of which together shall
constitute one and the same instrument. The Parties shall be entitled to rely
upon delivery of an executed facsimile or similar executed electronic copy of
this Agreement, and such facsimile or similar executed electronic copy shall be
legally effective to create a valid and binding agreement between the Parties.
</P>
<P align=center><B>[Remainder of page intentionally left blank] </B></P>
<P align=right>69 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_73></A>
<P align=justify style="text-indent:5%"><B>IN WITNESS WHEREOF</B> the Parties hereto have caused this
Agreement to be executed as of the date first written above by their respective
officers thereunto duly authorized. </P>
<DIV align=right>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="50%" border=0>

  <TR vAlign=top>
    <TD align=left colSpan=2><B>NOVACOPPER INC.</B> </TD></TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="90%">&nbsp; </TD></TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="90%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left >By: </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="90%">/s/
      <I>Elaine Sanders</I> </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; </TD>
    <TD align=left width="90%">Name: Elaine Sanders </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; </TD>
    <TD align=left width="90%">Title: Vice-President and Chief Financial
      Officer </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; </TD>
    <TD align=center width="90%"></TD></TR></TABLE></DIV><BR>
<DIV align=right>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="50%" border=0>

  <TR vAlign=top>
    <TD align=left colSpan=2><B>SUNWARD RESOURCES LTD.</B> </TD></TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="90%">&nbsp; </TD></TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="90%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left >By: </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="90%">/s/
      <I>Philip O&#146;Neill</I> </TD></TR>
  <TR vAlign=bottom>
    <TD align=center>&nbsp;</TD>
    <TD align=left width="90%" >Name: Philip O&#146;Neill </TD></TR>
  <TR vAlign=bottom>
    <TD align=center>&nbsp;</TD>
    <TD align=left width="90%" >Title: CEO and Director
  </TD></TR></TABLE></DIV>
<P align=right>70 </P>
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<P align=center><B>SCHEDULE A <BR></B><B>PLAN OF ARRANGEMENT </B></P>
<P align=center><B>UNDER SECTION 288 OF THE <BR></B><B><I>BUSINESS CORPORATIONS
ACT</I></B><B> (BRITISH COLUMBIA) </B></P>
<P align=center><B>ARTICLE 1 <BR></B><B>DEFINITIONS AND INTERPRETATION </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>1.1</B> </TD>
    <TD>
      <P align=justify><B>Definitions</B></P></TD></TR></TABLE>
<P align=justify>In this Plan of Arrangement, unless the context otherwise
requires, capitalized terms used but not defined shall have the meanings
ascribed to them below:</P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Arrangement</B>&#148; means the
arrangement of Sunward under Section 288 of the BCBCA on the terms and subject
to the conditions set out in this Plan of Arrangement, subject to any amendments
or variations thereto made in accordance with Section 8.3 of the Arrangement
Agreement or this Plan of Arrangement or made at the direction of the Court in
the Final Order (provided that any such amendment or variation is acceptable to
both Sunward and NovaCopper, each acting reasonably); </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Arrangement Agreement</B>&#148; means
the arrangement agreement dated as of April 22, 2015 between NovaCopper and
Sunward, as may be amended, amended and restated or supplemented prior to the
Effective Date; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Arrangement Option</B>&#148; has the
meaning ascribed thereto in Section 3.1(e);<B> </B></P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Arrangement Resolution</B>&#148; means
the special resolution of the Sunward Shareholders approving the Plan of
Arrangement which is to be considered at the Sunward Meeting; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>BCBCA</B>&#148; means the <I>Business
Corporations Act</I> (British Columbia) and the regulations made thereunder, as
now in effect and as they may be promulgated or amended from time to time; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>business day</B>&#148; means any day,
other than a Saturday, a Sunday or a statutory or civic holiday in Vancouver,
British Columbia; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Consideration</B>&#148; means the
consideration to be received by the Sunward Shareholders pursuant to this Plan
of Arrangement as consideration for their Sunward Shares, consisting of 0.30 of
a NovaCopper Share per Sunward Share; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Court</B>&#148; means the Supreme Court
of British Columbia; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Depositary</B>&#148; means any trust
company, bank or other financial institution agreed to in writing by Sunward and
NovaCopper for the purpose of, among other things, exchanging certificates
representing Sunward Shares for the Consideration in connection with the
Arrangement; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Dissent Right</B>&#148; shall have the
meaning ascribed thereto in Section 4.1(a); </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Dissenting Shareholder</B>&#148; means a
registered holder of Sunward Shares who dissents in respect of the Arrangement
in strict compliance with the Dissent Rights and who is ultimately entitled to
be paid fair value for their Sunward Shares;</P>
<P align=right>A-1 </P>
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<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Dissenting Shares</B>&#148; means
Sunward Shares held by a Dissenting Shareholder who has demanded and perfected
Dissent Rights in respect of the Sunward Shares in accordance with the Interim
Order and who, as of the Effective Time has not effectively withdrawn or lost
such Dissent Rights; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Effective Date</B>&#148; means the date
upon which the Arrangement becomes effective as set out in Section 2.10 of the
Arrangement Agreement; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Effective Time</B>&#148; means the time
on the Effective Date that the Arrangement will be deemed to have been
completed, which shall be 12:01 am (Vancouver time) on the Effective Date or
such other time as agreed to by NovaCopper and Sunward in writing; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Exchange Ratio</B>&#148; means 0.30;<B>
</B></P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Final Order</B>&#148; means the final
order of the Court pursuant to Section 291 of the BCBCA, in a form acceptable to
Sunward and NovaCopper, each acting reasonably, approving the Arrangement, as
such order may be amended by the Court (with the consent of both Sunward and
NovaCopper, each acting reasonably) at any time prior to the Effective Date or,
if appealed, then, unless such appeal is withdrawn or denied, as affirmed or as
amended (provided that any such amendment is acceptable to both Sunward and
NovaCopper, each acting reasonably) on appeal; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>final proscription date</B>&#148; shall
have the meaning ascribed thereto in Section 5.5; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Former Sunward Shareholders</B>&#148;
means, at and following the Effective Time, the registered Sunward Shareholders
immediately prior to the Effective Time; </P>
<P style="MARGIN-LEFT: 5%" align=justify><B>&#147;In-the-Money Amount&#148;</B> in respect
of a stock option means the amount, if any, by which the aggregate fair market
value at the time of securities subject to the stock option exceeds the
aggregate exercise price of the stock option;<B> </B></P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Interim Order</B>&#148; means the
interim order of the Court made pursuant to Section 291 of the BCBCA, in a form
acceptable to Sunward and NovaCopper, each acting reasonably, providing for,
among other things, the calling and holding of the Sunward Meeting, as the same
may be amended by the Court with the consent of Sunward and NovaCopper, each
acting reasonably; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Law</B>&#148; or &#147;<B>Laws</B>&#148; means all
laws (including common law), by-laws, statutes, rules, regulations, principles
of law and equity, orders, rulings, ordinances, judgments, injunctions,
determinations, awards, decrees or other requirements, whether domestic or
foreign, and the terms and conditions of any Permit of or from any Governmental
Entity or self-regulatory authority (including the TSX and the NYSE MKT), and
the term &#147;<B>applicable</B>&#148; with respect to such Laws and in a context that
refers to a Party, means such Laws as are applicable to such Party and/or its
subsidiaries or their business, undertaking, property or securities and emanate
from a Person having jurisdiction over the Party and/or its subsidiaries or its
or their business, undertaking, property or securities; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Letter of Transmittal</B>&#148; means
the letter of transmittal to be forwarded by Sunward to Shareholders together
with the Sunward Circular or such other equivalent form of letter of transmittal
acceptable to NovaCopper acting reasonably; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Liens</B>&#148; means any hypothecs,
mortgages, pledges, assignments, liens, charges, security interests,
encumbrances and adverse rights or claims, other third party interest or
encumbrance of any kind, whether contingent or absolute, and any agreement,
option, right or privilege (whether by Law, contract or otherwise) capable of
becoming any of the foregoing; </P>
<P align=right>A-2 </P>
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<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>NovaCopper</B>&#148; means NovaCopper
Inc., a corporation existing under the BCBCA; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>NovaCopper Shares</B>&#148; means the
common shares of NovaCopper; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Option Shares</B>&#148;<B> </B>means the
NovaCopper Shares issuable upon the exercise of Arrangement Options;<B> </B></P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Parties</B>&#148; means Sunward and
NovaCopper, and &#147;<B>Party</B>&#148; means any of them; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Person</B>&#148; includes an individual,
partnership, association, body corporate, trustee, executor, administrator,
legal representative, government (including any Governmental Entity) or any
other entity, whether or not having legal status; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Sunward</B>&#148; means Sunward
Resources Ltd., a corporation existing under the BCBCA; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Sunward Circular</B>&#148; means the
notice of the Sunward Meeting and accompanying management information circular,
including all schedules, appendices and exhibits thereto and enclosures
therewith, to be sent to the Sunward Shareholders in connection with the Sunward
Meeting, as amended, supplemented or otherwise modified from time to time; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Sunward Meeting</B>&#148; means the
special meeting of Sunward Shareholders, including any adjournment or
postponement thereof, to be called and held in accordance with the Interim Order
to consider the Arrangement Resolution; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Sunward Options</B>&#148; means the
outstanding options to purchase Sunward Shares granted under the Sunward Stock
Option Plan; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Sunward Securityholders</B>&#148; means
the Sunward Shareholders and holders of Sunward Options; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Sunward Shareholders</B>&#148; means the
holders of Sunward Shares; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Sunward Shares</B>&#148; means the
common shares in the authorized share capital of Sunward; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Sunward Stock Option Plan</B>&#148;
means the incentive stock option plan of Sunward, adopted by Sunward on
September 10, 2014; </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Tax Act</B>&#148; means the <I>Income
Tax Act</I> (Canada) and the regulations made thereunder, as now in effect and
as they may be promulgated or amended from time to time; and </P>
<P style="MARGIN-LEFT: 5%" align=justify>&#147;<B>Taxes</B>&#148; includes any taxes,
duties, fees, premiums, assessments, imposts, levies, expansion fees and other
charges of any kind whatsoever imposed by any Governmental Entity, including all
interest, penalties, fines, additions to tax or other additional amounts imposed
by any Governmental Entity in respect thereof, and including those levied on, or
measured by, or referred to as, income, gross receipts, profits, windfall,
royalty, capital, transfer, land transfer, sales, goods and services, harmonized
sales, use, value-added, excise, stamp, withholding, business, franchising,
property, development, occupancy, employer health, payroll, employment, health,
social services, education and social security taxes, all surtaxes, all customs
duties and import and export taxes, countervail and anti-dumping, all licence,
franchise and registration fees and all employment insurance, health insurance
and Canada, Qu&#233;bec and other pension plan premiums or contributions imposed by
any Governmental Entity, and any transferee liability in respect of any of the
foregoing. </P>
<P align=right>A-3 </P>
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<P align=justify>In addition, words and phrases used herein and defined in the
BCBCA and not otherwise defined herein or in the Arrangement Agreement shall
have the same meaning herein as in the BCBCA unless the context otherwise
requires.</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>1.2</B> </TD>
    <TD>
      <P align=justify><B>Interpretation Not Affected by
  Headings</B></P></TD></TR></TABLE>
<P align=justify>The division of this Plan of Arrangement into articles,
sections, paragraphs and subparagraphs and the insertion of headings herein are
for convenience of reference only and shall not affect the construction or
interpretation of this Plan of Arrangement. The terms &#147;this Plan of
Arrangement&#148;, &#147;hereof&#148;, &#147;herein&#148;, &#147;hereto&#148;, &#147;hereunder&#148; and similar expressions
refer to this Plan of Arrangement and not to any particular article, section or
other portion hereof and include any instrument supplementary or ancillary
hereto.</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>1.3</B> </TD>
    <TD>
      <P align=justify><B>Number, Gender and Persons</B></P></TD></TR></TABLE>
<P align=justify>In this Plan of Arrangement, unless the context otherwise
requires, words importing the singular shall include the plural and vice versa,
words importing the use of either gender shall include both genders and
neuter.</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>1.4</B> </TD>
    <TD>
      <P align=justify><B>Date for any Action</B></P></TD></TR></TABLE>
<P align=justify>If the date on which any action is required to be taken
hereunder is not a business day, such action shall be required to be taken on
the next succeeding day which is a business day.</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>1.5</B> </TD>
    <TD>
      <P align=justify><B>Statutory References</B></P></TD></TR></TABLE>
<P align=justify>Any reference in this Plan of Arrangement to a statute includes
all regulations made thereunder, all amendments to such statute or regulation in
force from time to time and any statute or regulation that supplements or
supersedes such statute or regulation.</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>1.6</B> </TD>
    <TD>
      <P align=justify><B>Currency</B></P></TD></TR></TABLE>
<P align=justify>Unless otherwise stated, all references herein to amounts of
money are expressed in lawful currency of Canada and &#147;$&#148; refers to Canadian
dollars. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>1.7</B> </TD>
    <TD>
      <P align=justify><B>Time</B></P></TD></TR></TABLE>
<P align=justify>Time shall be of the essence in every matter or action
contemplated hereunder. All times expressed herein are local time in Vancouver,
British Columbia unless otherwise stipulated herein. </P>
<P align=center><B>ARTICLE 2 <BR>ARRANGEMENT AGREEMENT </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>2.1</B> </TD>
    <TD>
      <P align=justify><B>Arrangement Agreement</B></P></TD></TR></TABLE>
<P align=justify>This Plan of Arrangement is made pursuant to, and is subject to
the provisions of, the Arrangement Agreement, except in respect of the sequence
of the steps comprising the Arrangement, which shall occur in the order set
forth herein.</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>2.2</B> </TD>
    <TD>
      <P align=justify><B>Binding Effect</B></P></TD></TR></TABLE>
<P align=justify>At the Effective Time, this Plan of Arrangement shall be
binding on: </P>
<P align=right>A-4 </P>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>NovaCopper;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>Sunward;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>all registered and beneficial Sunward Shareholders,
      including Dissenting Shareholders;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>all registered and beneficial holders of Sunward Options
      and Sunward DSUs;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(e) </TD>
    <TD>
      <P align=justify>the registrar and transfer agent in respect of the
      Sunward Shares and the NovaCopper Shares; and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(f) </TD>
    <TD>
      <P align=justify>the Depositary.</P></TD></TR></TABLE>
<P align=center><B>ARTICLE 3 <BR>ARRANGEMENT </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>3.1</B> </TD>
    <TD>
      <P align=justify><B>Arrangement</B></P></TD></TR></TABLE>
<P align=justify>At the Effective Time, except as otherwise noted herein, the
following shall occur and shall be deemed to occur sequentially, in the
following order, without any further act or formality required on the part of
any Person, in each case effective as at the Effective Time: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>the Sunward Resources Ltd. Deferred Share Unit Plan shall
      be terminated with respect to all plan participants, and in full payment
      of the obligations thereunder in a manner compliant with U.S. Treasury
      Regulation section 1.409A-3(j)(4)(ix)(B), each Sunward DSU which is
      outstanding and has not vested will fully-vest automatically and be
      exchanged for the number of DSU Shares (rounded down to the nearest whole
      share) equal to (i) the Exchange Ratio multiplied by (ii) the number of
      Sunward Shares subject to such Sunward DSU at the time of
  vesting;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>each Sunward Share (other than any Sunward Shares held by
      NovaCopper and any Sunward Shares in respect of which any Sunward
      Shareholder has validly exercised his, her or its Dissent Right) shall be
      deemed to be transferred to NovaCopper (free and clear of any Liens) in
      exchange for the Consideration, subject to Article 4 hereof;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>each Sunward Share in respect of which any Sunward
      Shareholder has validly exercised his, her or its Dissent Right shall be
      directly transferred and assigned by such Dissenting Shareholder to
      Sunward (free and clear of any Liens) in accordance with Article 4
      hereof;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>with respect to each Sunward Share transferred and
      assigned in accordance with Section 3.1(b)
hereto:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>the registered holder thereof shall cease to be the
      registered holder of such Sunward Share and the name of such registered
      holder shall be removed from the register of Sunward Shareholders as of
      the Effective Time;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>the registered holder thereof shall be deemed to have
      executed and delivered all consents, releases, assignments and waivers,
      statutory or otherwise, required to transfer and assign such Sunward
      Shares in accordance with Section 3.1(b) hereto;
and</P></TD></TR></TABLE>
<P align=right>A-5 </P>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD>
      <P align=justify>NovaCopper will be the holder of all of the outstanding
      Sunward Shares and the register of Sunward Shareholders shall be revised
      accordingly;</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(e) </TD>
    <TD>
      <P align=justify>each Sunward Option which is outstanding and has not been
      duly exercised prior to the Effective Date, shall be exchanged for a
      fully-vested option (each, a &#147;<B>Arrangement Option</B>&#148;) to purchase from
      NovaCopper the number of Option Shares (rounded down to the nearest whole
      share) equal to: (i) the Exchange Ratio multiplied by (ii) the number of
      Sunward Shares subject to such Sunward Option immediately prior to the
      Effective Date. Such Arrangement Option shall provide for an exercise
      price per Option Share (rounded up to the nearest whole cent) equal to:
      (x) the exercise price per Sunward Share otherwise purchasable pursuant to
      such Arrangement Option; divided by (y) the Exchange Ratio. It is intended
      that subsection 7(1.4) of the Tax Act apply to the exchange of Sunward
      Options. Accordingly, and notwithstanding the foregoing, if required, the
      exercise price of an Arrangement Option will be increased such that the
      In-the-Money Amount of the Arrangement Option immediately after the
      exchange does not exceed the In-the-Money Amount of the Sunward Option
      immediately before the exchange. All such Arrangement Options shall expire
      90 days following the Effective Date. All terms and conditions of an
      Arrangement Option, including the conditions to and manner of exercising,
      will be the same as the Sunward Option for which it was exchanged, and
      shall be governed by the terms of the applicable Sunward Stock Option Plan
      and any certificate or option agreement previously evidencing the Sunward
      Option shall thereafter evidence and be deemed to evidence such
      Arrangement Option. Taxes shall be deducted and withheld in connection
      with the exercise of Arrangement Options to the extent required under
      applicable Law and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(f) </TD>
    <TD>
      <P align=justify>the exchanges and cancellations provided for in this
      Section 3.1 will be deemed to occur on the Effective Date, notwithstanding
      certain procedures related thereto may not be completed until after the
      Effective Date.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>3.2</B> </TD>
    <TD>
      <P align=justify><B>Post-Effective Time
Procedures</B></P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>Following the receipt of the Final Order and prior to the
      Effective Date, NovaCopper shall deliver or arrange to be delivered to the
      Depositary the Consideration, including certificates representing the
      NovaCopper Shares required to be issued to Former Sunward Shareholders in
      accordance with the provisions of Section 3.1(b) hereof, which
      certificates shall be held by the Depositary as agent and nominee for such
      Former Sunward Shareholders for distribution to such Former Sunward
      Shareholders in accordance with the provisions of Article 5
  hereof.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>Subject to the provisions of Article 5 hereof, and upon
      return of a properly completed Letter of Transmittal by a registered
      Former Sunward Shareholder together with certificates, if any, which,
      immediately prior to the Effective Time represented Sunward Shares and
      such other documents as the Depositary may require, Former Sunward
      Shareholders shall be entitled to receive delivery of the certificates
      representing the NovaCopper Shares.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>3.3</B> </TD>
    <TD>
      <P align=justify><B>No Fractional NovaCopper
Shares</B></P></TD></TR></TABLE>
<P align=justify>In no event shall any holder of Sunward Shares be entitled to a
fractional NovaCopper Share. Where the aggregate number of NovaCopper Shares to
be issued to a Sunward Shareholder as consideration under this Arrangement would
result in a fraction of a NovaCopper Share being issuable, the number of
NovaCopper Shares to be received by such Sunward Shareholder shall be rounded
down to the nearest whole NovaCopper Share in the event a Sunward Shareholder is
entitled to a fractional share representing 0.5 or less of a NovaCopper Share
and shall be rounded up to the nearest whole NovaCopper Share in the event a
Sunward Shareholder is entitled to a fractional share representing more than 0.5
of a NovaCopper Share. </P>
<P align=right>A-6 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_80></A>
<P align=center><B>ARTICLE 4 <BR>DISSENT RIGHTS </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.1</B> </TD>
    <TD>
      <P align=justify><B>Rights of Dissent</B></P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>Pursuant to the Interim Order, Sunward Shareholders may
      exercise rights of dissent (&#147;<B>Dissent Rights</B>&#148;) under Division 2 of
      Part 8 of the BCBCA, as modified by this Article 4, the Interim Order and
      the Final Order, with respect to Sunward Shares in connection with the
      Arrangement, provided that the written notice setting forth the objection
      of such registered Sunward Shareholders to the Arrangement and exercise of
      Dissent Rights must be received by Sunward not later than 5:00 p.m. on the
      business day that is two (2) business days before the Sunward Meeting or
      any date to which the Sunward Meeting may be postponed or adjourned and
      provided further that holders who exercise such Dissent Rights and
    who:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>are ultimately entitled to be paid fair value for their
      Sunward Shares, which fair value, notwithstanding anything to the contrary
      contained in Section 245 of the BCBCA, shall be determined as of the close
      of business on the day before the Effective Date, shall be deemed to have
      transferred their Sunward Shares to Sunward as of the Effective Time,
      without any further act or formality and free and clear of all Liens, in
      consideration for the payment by Sunward of the fair value thereof, in
      cash and such Sunward Shares shall be cancelled by Sunward; and</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>are ultimately not entitled, for any reason, to be paid
      fair value for their Sunward Shares shall be deemed to have participated
      in the Arrangement, as of the Effective Time, on the same basis as a
      non-dissenting holder of Sunward Shares and shall be entitled to receive
      only the consideration contemplated in Section 3.1(b) hereof that such
      holder would have received pursuant to the Arrangement if such holder had
      not exercised Dissent Rights and such Sunward Shares shall be cancelled by
      Sunward;</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>in no circumstances shall Sunward, NovaCopper or any
      other Person be required to recognize a Person exercising Dissent Rights
      unless such Person is a registered holder of those Sunward Shares in
      respect of which such rights are sought to be exercised; and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>for greater certainty, in no case shall Sunward,
      NovaCopper or any other Person be required to recognize Dissenting
      Shareholders as Sunward Shareholders after the Effective Time, and the
      names of such Dissenting Shareholders shall be deleted from the register
      of Sunward Shareholders as of the Effective Time. In addition to any other
      restrictions under Division 2 of Part 8 of the BCBCA, and for greater
      certainty, none of the following shall be entitled to exercise Dissent
      Rights: (i) holders of Sunward Options; (ii) holders of Sunward DSUs; and
      (iii) Sunward Shareholders who vote, or who have instructed a proxyholder
      to vote, in favour of the Arrangement Resolution.</P></TD></TR></TABLE>
<P align=right>A-7 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_81></A>
<P align=center><B>ARTICLE 5 <BR></B><B>DELIVERY OF CONSIDERATION </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>5.1</B> </TD>
    <TD>
      <P align=justify><B>Delivery of
Consideration</B></P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>Upon surrender to the Depositary for cancellation of a
      certificate that immediately before the Effective Time represented one or
      more outstanding Sunward Shares that were exchanged for the Consideration,
      together with such other documents and instruments as would have been
      required to effect the transfer of the Sunward Shares formerly represented
      by such certificate under the BCBCA and the articles of Sunward and such
      additional documents and instruments as the Depositary may reasonably
      require, the holder of such surrendered certificate shall be entitled to
      receive in exchange therefor, and the Depositary shall deliver to such
      holder following the Effective Time, a certificate representing the
      NovaCopper Shares.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>After the Effective Time and until surrendered for
      cancellation as contemplated by Section 5.1(a) hereof, each certificate
      that immediately prior to the Effective Time represented one or more
      Sunward Shares shall be deemed at all times to represent only the right to
      receive in exchange therefor the Consideration that the holder of such
      certificate is entitled to receive in accordance with Section 3.1(b)
      hereof.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>5.2</B> </TD>
    <TD>
      <P align=justify><B>Lost Certificates</B></P></TD></TR></TABLE>
<P align=justify>If any certificate, that immediately prior to the Effective
Time represented one or more outstanding Sunward Shares that were exchanged for
the Consideration in accordance with Section 3.1 hereof, shall have been lost,
stolen or destroyed, upon the making of an affidavit of that fact by the holder
claiming such certificate to be lost, stolen or destroyed, the Depositary shall
deliver in exchange for such lost, stolen or destroyed certificate, the
Consideration that such holder is entitled to receive in accordance with Section
3.1 hereof. When authorizing such delivery of Consideration that such holder is
entitled to receive in exchange for such lost, stolen or destroyed certificate,
the holder to whom such Consideration is to be delivered shall, as a condition
precedent to the delivery of such Consideration, give a bond satisfactory to
NovaCopper and the Depositary in such amount as NovaCopper and the Depositary
may direct, or otherwise indemnify NovaCopper and the Depositary in a manner
satisfactory to NovaCopper and the Depositary, against any claim that may be
made against NovaCopper or the Depositary with respect to the certificate
alleged to have been lost, stolen or destroyed and shall otherwise take such
actions as may be required by the articles and by-laws of Sunward. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>5.3</B> </TD>
    <TD>
      <P align=justify><B>Distributions with Respect to Unsurrendered
      Certificates</B></P></TD></TR></TABLE>
<P align=justify>No dividend or other distribution declared or made after the
Effective Time with respect to NovaCopper Shares with a record date after the
Effective Time shall be paid to the holder of any unsurrendered certificate
that, immediately prior to the Effective Time, represented outstanding Sunward
Shares unless and until the holder of such certificate shall have complied with
the provisions of Section 5.1 or Section 5.2 hereof. Subject to applicable Law
and to Section 5.4 hereof, at the time of such compliance, there shall, in
addition to the delivery of Consideration to which such holder is thereby
entitled, be delivered to such holder, without interest, the amount of the
dividend or other distribution with a record date after the Effective Time
theretofore paid with respect to such NovaCopper Shares.</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>5.4</B> </TD>
    <TD>
      <P align=justify><B>Withholding Rights</B></P></TD></TR></TABLE>
<P align=justify>NovaCopper, Sunward and the Depositary shall be entitled to
deduct and withhold from any consideration payable or otherwise deliverable to
any Person hereunder and from all dividends, interest or other distributions otherwise payable to any former Sunward
Securityholder such amounts as NovaCopper, Sunward or the Depositary may be
required to deduct and withhold therefrom under any provision of applicable Laws
in respect of Taxes. To the extent that such amounts are so deducted, withheld
and remitted, such amounts shall be treated for all purposes under this
Arrangement as having been paid to the Person to whom such amounts would
otherwise have been paid. </P>
<P align=right>A-8 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_82></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>5.5</B> </TD>
    <TD>
      <P align=justify><B>Limitation and
Proscription</B></P></TD></TR></TABLE>
<P align=justify>To the extent that a Former Sunward Shareholder shall not have
complied with the provisions of Section 5.1 or Section 5.2 hereof on or before
the date that is six (6) years after the Effective Date (the &#147;<B>final
proscription date</B>&#148;), then the Consideration that such Former Sunward
Shareholder was entitled to receive shall be automatically cancelled without any
repayment of capital in respect thereof, and the Consideration to which such
Former Sunward Shareholder was entitled shall be delivered to NovaCopper by the
Depositary and certificates representing NovaCopper Shares forming a portion of
the Consideration shall be cancelled by NovaCopper, and the interest of the
Former Sunward Shareholder in the Consideration to which it was entitled shall
be terminated as of such final proscription date.</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>5.6</B> </TD>
    <TD>
      <P align=justify><B>No Liens</B></P></TD></TR></TABLE>
<P align=justify>Any exchange or transfer of securities pursuant to this Plan of
Arrangement shall be free and clear of any Liens. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>5.7</B> </TD>
    <TD>
      <P align=justify><B>Paramountcy</B></P></TD></TR></TABLE>
<P align=justify>From and after the Effective Time: (i) this Plan of Arrangement
shall take precedence and priority over any and all Sunward Shares and Sunward
Options issued prior to the Effective Time, (ii) the rights and obligations of
the registered Sunward Shareholders and holders of Sunward Options, and Sunward,
NovaCopper, the Depositary and any transfer agent or other depositary therefor
in relation thereto, shall be solely as provided for in this Plan of
Arrangement, and (iii) all actions, causes of action, claims or proceedings
(actual or contingent and whether or not previously asserted) based on or in any
way relating to any Sunward Shares, Sunward Options or Sunward shall be deemed
to have been settled, compromised, released and determined without liability
except as set forth herein. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD align=center><B>ARTICLE 6</B> </TD></TR>
  <TR vAlign=top>
    <TD align=center><B>AMENDMENTS</B> </TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>6.1</B> </TD>
    <TD>
      <P align=justify><B>Amendments to Plan of
Arrangement</B></P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>NovaCopper and Sunward reserve the right to amend, modify
      or supplement this Plan of Arrangement at any time and from time to time,
      provided that each such amendment, modification or supplement must be: (i)
      set out in writing; (ii) agreed to in writing by NovaCopper and Sunward;
      (iii) filed with the Court and, if made following the Sunward Meeting,
      approved by the Court; and (iv) communicated to Sunward Shareholders if
      and as required by the Court.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>Any amendment, modification or supplement to this Plan of
      Arrangement may be proposed by Sunward at any time prior to the Sunward
      Meeting provided that NovaCopper shall have consented thereto in writing,
      with or without any other prior notice or communication, and, if so
      proposed and accepted by the Persons voting at the Sunward Meeting (other
      than as may be required under the Interim Order), shall become part of
      this Plan of Arrangement for all purposes.</P></TD></TR></TABLE>
<P align=right>A-9 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_83></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>Any amendment, modification or supplement to this Plan of
      Arrangement that is approved by the Court following the Sunward Meeting
      shall be effective only if: (i) it is consented to in writing by each of
      NovaCopper and Sunward; (ii) it is filed with the Court (other than
      amendments contemplated in Section 6.1(d), which shall not require such
      filing) and (iii) if required by the Court, it is consented to by holders
      of the Sunward Shares voting in the manner directed by the
Court.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>Any amendment, modification or supplement to this Plan of
      Arrangement may be made following the Effective Time unilaterally by
      NovaCopper, provided that it concerns a matter that, in the reasonable
      opinion of NovaCopper, is of an administrative nature required to better
      give effect to the implementation of this Plan of Arrangement and is not
      adverse to the economic interest of any Former Sunward Shareholder or
      former holder of Sunward Options.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(e) </TD>
    <TD>
      <P align=justify>This Plan of Arrangement may be withdrawn prior to the
      Effective Time in accordance with the terms of the Arrangement
      Agreement.</P></TD></TR></TABLE>
<P align=center><B>ARTICLE 7 <BR>FURTHER ASSURANCES </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>7.1</B> </TD>
    <TD>
      <P align=justify><B>Further Assurances</B></P></TD></TR></TABLE>
<P align=justify>Notwithstanding that the transactions and events set out herein
shall occur and be deemed to occur in the order set out in this Plan of
Arrangement without any further act or formality, each of the parties to the
Arrangement Agreement shall make, do and execute, or cause to be made, done and
executed, all such further acts, deeds, agreements, transfers, assurances,
instruments or documents as may reasonably be required by any of them in order
further to document or evidence any of the transactions or events set out
therein. </P>
<P align=right>A-10 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<!--$$/page=--><A name=page_84></A>
<P align=center><B>SCHEDULE B <BR>ARRANGEMENT RESOLUTION </B></P>
<P align=justify><B>BE IT RESOLVED THAT: </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">1. </TD>
    <TD>
      <P align=justify>The arrangement (the &#147;<B>Arrangement</B>&#148;) under Section
      288 of the <I>Business Corporations Act </I>(British Columbia) (the
      &#147;<B>BCBCA</B>&#148;) involving Sunward Resources Ltd., a corporation existing
      under the Laws of the Province of British Columbia (&#147;<B>Sunward</B>&#148;), all
      as more particularly described and set forth in the Management Proxy
      Circular (the &#147;<B>Circular</B>&#148;) of Sunward dated <B>&#149;</B>, 2015, accompanying
      the notice of this meeting (as the Arrangement may be, or may have been,
      modified or amended in accordance with its terms), is hereby authorized,
      approved and adopted.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">2. </TD>
    <TD>
      <P align=justify>The plan of arrangement (the &#147;<B>Plan of
      Arrangement</B>&#148;), involving Sunward and implementing the Arrangement, the
      full text of which is set out in Appendix <B>&#149;</B> to the Circular (as the Plan
      of Arrangement may be, or may have been, modified or amended in accordance
      with its terms), is hereby authorized, approved and adopted.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">3. </TD>
    <TD>
      <P align=justify>The arrangement agreement (the &#147;<B>Arrangement
      Agreement</B>&#148;) between Sunward and NovaCopper Inc. a corporation existing
      under the laws of the Province of British Columbia (<B>&#147;NovaCopper</B>&#148;),
      dated April 22, 2015, and all the transactions contemplated therein, the
      actions of the directors of Sunward in approving the Arrangement and the
      actions of the directors and officers of Sunward in executing and
      delivering the Arrangement Agreement and any amendments thereto are hereby
      ratified and approved.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">4. </TD>
    <TD>
      <P align=justify>Notwithstanding that this resolution has been passed (and
      the Arrangement approved) by the shareholders of Sunward or that the
      Arrangement has been approved by the British Columbia Supreme Court, the
      directors of Sunward are hereby authorized and empowered, without further
      notice to, or approval of, the securityholders of
  Sunward:</P></TD></TR></TABLE><BR>
<TABLE
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cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>to amend the Arrangement Agreement or the Plan of
      Arrangement to the extent permitted by the Arrangement Agreement or the
      Plan of Arrangement; or</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>subject to the terms of the Arrangement Agreement, not to
      proceed with the Arrangement.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">5. </TD>
    <TD>
      <P align=justify>Any director or officer of Sunward is hereby authorized
      and directed for and on behalf of Sunward to execute, whether under
      corporate seal of Sunward or otherwise, any and all documents that are
      required to be filed with the Registrar under the BCBCA in connection with
      the Arrangement Agreement or the Plan of Arrangement.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">6. </TD>
    <TD>
      <P align=justify>Any one or more directors or officers of Sunward is
      hereby authorized, for and on behalf and in the name of Sunward, to
      execute and deliver, whether under corporate seal of Sunward or otherwise,
      all such agreements, forms waivers, notices, certificate, confirmations
      and other documents and instruments and to do or cause to be done all such
      other acts and things as in the opinion of such director or officer may be
      necessary, desirable or useful for the purpose of giving effect to these
      resolutions, the Arrangement Agreement and the completion of the Plan of
      Arrangement in accordance with the terms of the Arrangement Agreement,
      including:</P></TD></TR></TABLE>
<P align=right>B-1 </P>
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<TABLE
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  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>all actions required to be taken by or on behalf of
      Sunward, and all necessary filings and obtaining the necessary approvals,
      consents and acceptances of appropriate regulatory authorities;
  and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>the signing of the certificates, consents and other
      documents or declarations required under the Arrangement Agreement or
      otherwise to be entered into by Sunward;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>such determination to be conclusively evidenced by the
      execution and delivery of such document, agreement or instrument or the
      doing of any such act or thing.</P></TD></TR></TABLE>
<P align=right>B-2 </P>
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<P align=center><B>SCHEDULE C <BR></B><B>KEY REGULATORY APPROVALS </B></P>
<P align=justify>Nil </P>
<P align=right>C-1 </P>
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<P align=center><B>SCHEDULE D <BR></B><B>KEY THIRD PARTY CONSENTS </B></P>
<P align=justify>Nil </P>
<P align=right>D-1 </P>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>3
<FILENAME>exhibit10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
<HTML>
<HEAD>
   <TITLE>NovaCopper Inc.: Exhibit 10.1 - Filed by newsfilecorp.com</TITLE>
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<BODY style="font-size:10pt;">

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<P align=center><B>VOTING SUPPORT AGREEMENT </B></P>
<P style="MARGIN-LEFT: 5%" align=justify><B>THIS AGREEMENT</B> is made as of
April 22, 2015 </P>
<P align=justify><B>BETWEEN: </B></P>
<P style="MARGIN-LEFT: 10%" align=justify><B>NOVACOPPER INC.</B>, a corporation
existing under the laws of the Province of British Columbia (the
&#147;<B>Purchaser</B>&#148;) </P>
<P align=center>- and - </P>
<P style="MARGIN-LEFT: 10%" align=justify><B>GOLD FIRST INVESTMENTS LIMITED</B>,
a corporation existing under the laws of British Virgin Islands (the
&#147;<B>Securityholder</B>&#148;) </P>
<P align=justify><B>RECITALS: </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">1. </TD>
    <TD>
      <P align=justify>The Securityholder is the beneficial owner of, or has
      control or direction over, the Subject Securities.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">2. </TD>
    <TD>
      <P align=justify>The Securityholder understands that Sunward Resources
      Ltd. (&#147;<B>Sunward</B>&#148;) and the Purchaser are, concurrently with the
      execution and delivery of this Agreement, executing and delivering the
      Arrangement Agreement.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">3. </TD>
    <TD>
      <P align=justify>This Agreement sets out the terms and conditions of the
      agreement of the Securityholder to abide by the covenants in respect of
      the Subject Securities and the other restrictions and covenants set forth
      herein.</P></TD></TR></TABLE>
<P align=justify style="text-indent:5%"><B>NOW THEREFORE</B>, in consideration of the mutual covenants
in this Agreement and for other good and valuable consideration (the receipt and
sufficiency of which are hereby acknowledged) the parties hereto agree as
follows: </P>
<P align=center><B>ARTICLE 1 </B><BR><B>INTERPRETATION </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>1.1</B> </TD>
    <TD>
      <P align=justify><B>Definitions</B></P></TD></TR></TABLE>
<P align=justify>Capitalized terms used herein and not otherwise defined have
the meanings ascribed thereto in the Arrangement Agreement. In this Agreement,
including the recitals: </P>
<P align=justify>&#147;<B>Arrangement Agreement</B>&#148; means the arrangement agreement,
dated as of the date hereof, between Sunward and the Purchaser; </P>
<P align=justify>&#147;<B>Board Nominees</B>&#148; means those two persons nominated by
the Securityholder to be directors of the Purchaser as of the Effective Time,
provided that such persons shall be acceptable to the Purchaser, acting
reasonably; </P>
<P align=justify>&#147;<B>Business Day</B>&#148; means any day, other than a Saturday, a
Sunday or a statutory or civic holiday in Toronto, Ontario or Vancouver, British
Columbia; </P>
<P align=justify>&#147;<B>Contract</B>&#148; means any contract, agreement, license,
franchise, lease, arrangement, commitment, understanding, joint venture,
partnership or other right or obligation (written or oral) to which a Party or
any of its subsidiaries (if applicable) is a party or by which
it or any of its subsidiaries (if applicable) is bound or affected or to which
any of their respective properties or assets is subject; </P>
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<P align=justify>&#147;<B>Expiry Time</B>&#148; has the meaning ascribed thereto in
Section 3.1(a); </P>
<P align=justify>&#147;<B>Governmental Entity</B>&#148; means: (a) any multinational,
federal, provincial, territorial, state, regional, municipal, local or other
government, governmental or public department, central bank, court, tribunal,
arbitral body, commission, board, bureau, agency or entity, domestic or foreign;
(b) any stock exchange, including the TSX or the NYSE MKT; (c) any subdivision,
agent, commission, board or authority of any of the foregoing; or (d) any
quasi-governmental or private body, including any tribunal, commission,
regulatory agency or self-regulatory organization, exercising any regulatory,
expropriation or taxing authority under or for the account of any of the
foregoing; </P>
<P align=justify>&#147;<B>Law</B>&#148; or &#147;<B>Laws</B>&#148; means all laws (including common
law), by-laws, statutes, rules, regulations, principles of law and equity,
orders, rulings, ordinances, judgments, injunctions, determinations, awards,
decrees or other requirements, whether domestic or foreign, and the terms and
conditions of any Permit of or from any Governmental Entity or self-regulatory
authority (including the TSX and the NYSE MKT), and the term &#147;applicable&#148; with
respect to such Laws and in a context that refers to a Party, means such Laws as
are applicable to such Party and/or its subsidiaries or their business,
undertaking, property or securities and emanate from a Person having
jurisdiction over the Party and/or its subsidiaries or its or their business,
undertaking, property or securities; </P>
<P align=justify>&#147;<B>Notice</B>&#148; has the meaning ascribed thereto in Section
4.7; </P>
<P align=justify>&#147;<B>Parties</B>&#148; means NovaCopper Inc. and the Securityholder,
and &#147;<B>Party</B>&#148; means any of them; </P>
<P align=justify>&#147;<B>Person</B>&#148; includes an individual, partnership,
association, body corporate, trustee, executor, administrator, legal
representative, government (including any Governmental Entity) or any other
entity, whether or not having legal status; </P>
<P align=justify>&#147;<B>Subject Securities</B>&#148; means the Subject Shares and any
securities exercisable or exchangeable for, or convertible into, Subject Shares
(including Sunward Options and Sunward DSUs) beneficially owned, directly or
indirectly, or controlled or directed, by the Securityholder; </P>
<P align=justify>&#147;<B>Subject Shares</B>&#148; means all Sunward Shares beneficially
owned, directly or indirectly, or controlled or directed, by the Securityholder,
which, for greater certainty, shall include any Sunward Shares issuable upon the
exercise, exchange, vesting or conversion of any security (including Sunward
Options and Sunward DSUs) beneficially owned, directly or indirectly, or
controlled or directed by the Securityholder which may be exercised, converted
into or exchanged for Sunward Shares and shall also include any and all
distributions of securities made in respect of such Subject Shares on or after
the date hereof, and shall further include any Sunward Shares the direct or
indirect beneficial ownership of which, or control or direction over which, is
acquired after the date hereof by the Securityholder; and </P>
<P align=justify>&#147;<B>Transfer</B>&#148; has the meaning ascribed thereto in Section
3.1(a) . </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>1.2</B> </TD>
    <TD>
      <P align=justify><B>Singular; Plural, etc.</B></P></TD></TR></TABLE>
<P align=justify>In this Agreement, words importing the singular number include
the plural and vice versa and words importing gender include the masculine,
feminine and neuter genders. </P>
<P align=right>2 </P>
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<TABLE
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  <TR>
    <TD vAlign=top width="5%"><B>1.3</B> </TD>
    <TD>
      <P align=justify><B>Headings, etc.</B></P></TD></TR></TABLE>
<P align=justify>The division of this Agreement into Articles, Sections and
Schedules and the insertion of the recitals and headings are for convenience of
reference only and shall not affect the construction or interpretation of this
Agreement and, unless otherwise stated, all references in this Agreement or in
the Schedules hereto to Articles, Sections and Schedules refer to Articles,
Sections and Schedules of and to this Agreement or of the Schedules in which
such reference is made, as applicable. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>1.4</B> </TD>
    <TD>
      <P align=justify><B>Date for any Action</B></P></TD></TR></TABLE>
<P align=justify>In the event that any date on which any action is required to
be taken hereunder by any of the Parties is not a Business Day, such action
shall be required to be taken on the next succeeding day which is a Business
Day. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>1.5</B> </TD>
    <TD>
      <P align=justify><B>Governing Law</B></P></TD></TR></TABLE>
<P align=justify>This Agreement shall be governed, including as to validity,
interpretation and effect, by the Laws of the Province of British Columbia and
the Laws of Canada applicable therein. Each of the Parties hereby irrevocably
attorns to the jurisdiction of the Courts of the Province of British Columbia in
respect of all matters arising under and in relation to this Agreement. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>1.6</B> </TD>
    <TD>
      <P align=justify><B>Incorporation of Schedules</B></P></TD></TR></TABLE>
<P align=justify>The Schedules attached hereto and described below shall, for
all purposes hereof, form an integral part of this Agreement. </P>
<P style="MARGIN-LEFT: 5%" align=justify>Schedule A &#150; Subject Securities </P>
<P align=center><B>ARTICLE 2 </B><BR><B>REPRESENTATIONS AND WARRANTIES </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>2.1</B> </TD>
    <TD>
      <P align=justify><B>Representations and Warranties of the
      Securityholder</B></P></TD></TR></TABLE>
<P align=justify>The Securityholder represents and warrants to the Purchaser
(and understands and acknowledges that the Purchaser is relying on these
representations and warranties in entering into the Arrangement Agreement and
completing the transactions contemplated hereby and by the Arrangement
Agreement) the matters set out below: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>if an individual, the Securityholder has the legal
      capacity to execute and deliver this Agreement and to consummate the
      transactions contemplated by this Agreement; if a Person other than an
      individual, the Securityholder is validly existing under the laws of its
      governing jurisdiction, has all necessary power and authority to enter
      into this Agreement and has taken all steps necessary to authorize the
      execution of this Agreement and the performance of its obligations under
      this Agreement. This Agreement has been duly executed and delivered by the
      Securityholder and constitutes a legal, valid and binding obligation of
      the Securityholder, enforceable against the Securityholder in accordance
      with its terms, subject to the qualification that such enforceability may
      be limited by bankruptcy, insolvency, reorganization or other applicable
      Laws relating to or affecting rights of creditors generally and subject to
      the qualification that equitable remedies, including specific performance,
      are discretionary;</P></TD></TR></TABLE>
<P align=right>3 </P>
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<TABLE
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  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>the securities set forth in Schedule A represent all the
      Subject Securities beneficially owned, directly or indirectly, or
      controlled or directed, by the Securityholder as of the date hereof. Other
      than the securities set forth in Schedule A, neither the Securityholder
      nor any of his, her or its affiliates beneficially owns, directly or
      indirectly, or exercises control or direction over, or has any agreement
      or option, or right or privilege (whether by Law, pre-emptive or
      contractual) capable of becoming an agreement or option, for the purchase
      or acquisition by the Securityholder or any of his, her or its affiliates
      or transfer to the Securityholder or any of his, her or its affiliates of
      any additional securities of Sunward or any of its affiliates;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>the Securityholder is, and will continue to be from the
      date hereof (or in the case of any Subject Securities acquired after the
      date hereof, from the date of each such acquisition) through to the Expiry
      Time, the sole beneficial owner of the Subject Securities, with good and
      marketable title thereto, free and clear of all Liens (other than (i) any
      restrictions on transfer imposed by applicable Securities Laws and (ii) as
      provided under this Agreement);</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>the Securityholder has the sole right to dispose of and
      vote (to the extent permitted by the attributes of such Subject Securities
      or pursuant to applicable Laws, regulation or policy), or direct the
      disposal and voting of, the Subject Securities;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(e) </TD>
    <TD>
      <P align=justify>no Person has any agreement or option, or any right or
      privilege (whether by Laws, pre- emptive or contractual) capable of
      becoming an agreement or option, providing for the purchase, acquisition
      or transfer of any of the Subject Securities or any interest therein or
      right thereto, except the Purchaser pursuant to the Arrangement
      Agreement;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(f) </TD>
    <TD>
      <P align=justify>none of the Subject Securities is subject to any proxy,
      voting trust, vote pooling or other agreement with respect to the right to
      vote, call meetings of any of Sunward&#146;s securityholders or give consents
      or approvals of any kind;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(g) </TD>
    <TD>
      <P align=justify>none of the execution and delivery by the Securityholder
      of this Agreement or the completion of the transactions contemplated
      hereby or the compliance by the Securityholder with the Securityholder&#146;s
      obligations hereunder will violate, contravene, result in any breach of,
      or be in conflict with, or constitute a default under, or create a state
      of facts which after notice or lapse of time or both would constitute a
      default under, any term or provision of: (i) if the Securityholder is not
      an individual, any constating or governing documents or resolutions of the
      Securityholder; (ii) any Contract to which the Securityholder is a party
      or by which the Securityholder or any of the property or assets of the
      Securityholder are bound; (iii) any judgment, decree, order or award of
      any Governmental Entity; or (iv) any applicable Laws;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(h) </TD>
    <TD>
      <P align=justify>no consent, waiver, approval, authorization, order,
      exemption, registration, licence or declaration of or by, or filing with,
      or notification to any Governmental Entity or other third party which has
      not been made or obtained is required to be made or obtained by the
      Securityholder or any of his, her or its affiliates in connection with the
      execution and delivery by the Securityholder and enforcement against the
      Securityholder of this Agreement or the consummation of any transactions
      provided for herein (provided that the Securityholder makes no
      representations or warranties with respect to the consents, waivers,
      approvals, authorizations or declarations of or by, or filings with, or
      notices to any Governmental Entities or other third parties on the part of
      Sunward or the Purchaser necessary for the consummation of the transactions contemplated
by the Arrangement Agreement); </P></TD></TR></TABLE>
<P align=right>4 </P>
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<TABLE
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  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>there is no private or governmental action, suit, claim,
      arbitration, investigation or other proceeding in progress or pending
      before any Governmental Entity, or, to the knowledge of the
      Securityholder, threatened against the Securityholder or any of his, her
      or its affiliates or, if applicable, any of their respective directors or
      officers (in their capacities as such) that, individually or in the
      aggregate, could adversely affect the Securityholder&#146;s ability to enter
      into this Agreement or perform his, her or its obligations hereunder or
      the title of the Securityholder to any of the Subject Securities. There is
      no judgment, decree or order against the Securityholder or any of his, her
      or its affiliates or, if applicable, any of their directors or officers
      (in their capacities as such) that could prevent, enjoin, alter, delay or
      adversely affect the ability of the Securityholder to enter into this
      Agreement, to perform his, her or its obligations under this Agreement or
      the title of the Securityholder to any of the Subject
Securities;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(j) </TD>
    <TD>
      <P align=justify>the Securityholder is a sophisticated investor with
      respect to the Subject Securities and has independently and without
      reliance upon the Purchaser and based on such information as the
      Securityholder has deemed appropriate, made his, her or its own analysis
      and decision to enter into this Agreement. The Securityholder has received
      a copy of the Arrangement Agreement and has had an opportunity to review
      the Arrangement Agreement with his, her or its legal counsel. As of the
      date hereof, the Securityholder has full knowledge of and access to
      information concerning Sunward and the Sunward Shares. Any factors
      particular to the Securityholder, including non-financial factors, that
      were considered relevant by the Securityholder in assessing the
      Consideration offered under the Arrangement did not have the effect of
      reducing the Consideration that would otherwise have been considered
      acceptable by the Securityholder. The Securityholder acknowledges that,
      unless and until this Agreement is terminated in accordance with its
      terms, the agreements contained herein with respect to the Subject
      Securities by the Securityholder are irrevocable; and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(k) </TD>
    <TD>
      <P align=justify>the Securityholder (i) is not and will not be the
      beneficial owner of, and does not and will not have control or direction
      over, any securities of the Purchaser or any of its subsidiaries; or (ii)
      is party to a voting agreement with Sunward, substantially in the form of
      this Agreement, pursuant to which the Securityholder has agreed, among
      other things, to vote his, her or its NovaCopper Shares in favour of the
      issuance of the Consideration Shares and reservation for issuance of the
      Option Shares in connection with the
Arrangement.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>2.2</B> </TD>
    <TD>
      <P align=justify><B>Representations and Warranties of the
    Purchaser</B></P></TD></TR></TABLE>
<P align=justify>The Purchaser represents and warrants to the Securityholder
(and acknowledges that the Securityholder is relying on these representations
and warranties in completing the transactions contemplated hereby) the matters
set out below: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>the Purchaser is a corporation duly incorporated and
      validly existing under the laws of the Province of British Columbia and
      has all necessary corporate power, authority and capacity to enter into
      this Agreement and to carry out its obligations under this Agreement. The
      execution and delivery of this Agreement and the consummation of the
      transactions contemplated by this Agreement have been duly authorized by
      all necessary corporate action on the part of the Purchaser. This
      Agreement has been duly executed and delivered by the Purchaser and constitutes a legal, valid and
binding obligation of the Purchaser, enforceable against the Purchaser in
accordance with its terms, subject to the qualification that such enforceability
may be limited by bankruptcy, insolvency, reorganization or other applicable
Laws relating to or affecting rights of creditors generally and subject to the
qualification that equitable remedies, including specific performance, are
discretionary; and </P></TD></TR></TABLE>
<P align=right>5 </P>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>except as would not materially hinder, delay or impede
      the consummation of the transaction contemplated by this Agreement and the
      Arrangement Agreement, none of the execution and delivery by the Purchaser
      of this Agreement or the completion of the transactions contemplated
      hereby or the compliance by the Purchaser with the Purchaser&#146;s obligations
      hereunder will violate, contravene, result in any breach of, or be in
      conflict with, or constitute a default under, or create a state of facts
      which after notice or lapse of time or both would constitute a default
      under, any term or provision of: (i) any constating or governing documents
      or resolutions of the Purchaser; (ii) any Contract to which the Purchaser
      is a party or by which the Purchaser or any of the property or assets of
      the Purchaser are bound; (iii) any judgment, decree, order or award of any
      Governmental Entity; or (iv) any applicable Laws;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>there is no private or governmental action, suit, claim,
      arbitration, investigation or other proceeding in progress or pending
      before any Governmental Entity, or, to the knowledge of the Purchaser,
      threatened against the Purchaser or any of its affiliates or any of their
      respective directors or officers (in their capacities as such) that,
      individually or in the aggregate, could impair the Purchaser&#146;s ability to
      enter into this Agreement or perform its obligations under this Agreement.
      There is no judgment, decree or order against the Purchaser or any of its
      affiliates or any of their directors or officers (in their capacities as
      such) that could prevent, enjoin, alter, delay or adversely affect the
      ability of the Purchaser to enter into this Agreement or to perform its
      obligations under this Agreement.</P></TD></TR></TABLE>
<P align=center><B>ARTICLE 3 </B><BR><B>COVENANTS </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>3.1</B> </TD>
    <TD>
      <P align=justify><B>Covenants of the
Securityholder</B></P></TD></TR></TABLE>
<P align=justify>The Securityholder hereby irrevocably covenants and agrees as
follows: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>from the date of this Agreement until the termination of
      this Agreement in accordance with its terms (the &#147;<B>Expiry Time</B>&#148;),
      the Securityholder shall not (A) sell, transfer, gift, assign, convey,
      pledge, hypothecate, encumber, grant any option with respect to, grant a
      security interest in or otherwise dispose of any right or interest in
      (including by way of deposit or tender under any take-over bid) (any such
      event, a &#147;<B>Transfer</B>&#148;) any of the Subject Securities, other than the
      exercise, exchange, vesting or conversion of Sunward Options or Sunward
      DSUs in accordance with their terms for Sunward Shares, which Sunward
      Shares will become Subject Securities hereunder, or enter into any
      agreement, arrangement or understanding in connection therewith (whether
      by actual disposition or effective economic disposition due to cash
      settlement or otherwise), other than pursuant to the Arrangement, without
      having first obtained the prior written consent of the Purchaser, or (B)
      other than as set forth herein, grant any proxies or powers of attorney
      with respect to any Subject Securities, deposit any Subject Securities
      into a voting trust, in any way transfer any of the voting rights
associated with any of the Subject Securities, or enter into a voting agreement, understanding or arrangement
with respect to the right to vote, call meetings of Sunward Shareholders or give
consents or approvals of any kind with respect to any Subject Securities. In
furtherance of this Agreement, the Securityholder hereby authorizes the
Purchaser, Sunward or their respective legal counsel to notify Sunward&#146;s
transfer agent that there is a stop transfer order with respect to all of the
Subject Securities (and that this Agreement places limits on the voting and
transfer of such Subject Securities, as applicable), provided that if any such
action involves costs to the Securityholder, those costs shall be paid or
reimbursed by the Purchaser. The Parties agree that such stop transfer order
shall be removed and shall be of no further force and effect upon the
termination of this Agreement in accordance with Section 4.1; </P></TD></TR></TABLE>
<P align=right>6 </P>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>from time to time, until the Expiry Time, to vote (or
      cause to be voted) all the Subject Shares at any meeting of any of the
      securityholders of Sunward at which the Securityholder is entitled to
      vote, including without limitation the Sunward Meeting, and in any action
      by written consent of the securityholders of
Sunward:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>in favour of the approval, consent, ratification and
      adoption of the Arrangement Resolution and the transactions contemplated
      by the Arrangement Agreement (and any actions required for the
      consummation of the transactions contemplated by the Arrangement
      Agreement); and</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>other than the Arrangement, against (A) any extraordinary
      corporate transaction, including any merger, reorganization,
      consolidation, amalgamation, arrangement, business combination, share
      exchange, liquidation, dissolution, recapitalization, or similar
      transaction involving Sunward or any of its subsidiaries; (B) any sale,
      lease or transfer of any significant part of the assets of Sunward or any
      of its subsidiaries; (C) any Acquisition Proposal involving Sunward or any
      of its subsidiaries; (D) any material change in the capitalization of
      Sunward or any of its subsidiaries or the corporate structure or
      constating documents of Sunward or any of its subsidiaries; (E) any action
      that would reasonably be expected to impede, delay, interfere with, or
      discourage the transactions contemplated by the Arrangement Agreement; and
      (F) any action or agreement that would result in a breach of any covenant,
      representation or warranty or any other obligation or agreement of Sunward
      under the Arrangement Agreement;</P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 10%" align=justify>in connection with the foregoing,
subject to this Section 3.1(b), the Securityholder shall deposit an irrevocable
proxy, duly completed and executed in respect of all of the Subject Shares at
least five (5) business days prior to the Sunward Meeting, voting all such
Subject Shares in favour of the Arrangement Resolution and otherwise in the
manner described in this Section 3.1(b) . Neither the Securityholder nor any
Person acting on his, her or its behalf will take any action to withdraw, amend
or invalidate any proxy deposited by the Securityholder pursuant to this
Agreement, notwithstanding any statutory or other rights which the
Securityholder might have unless this Agreement is terminated in accordance with
Section 4.1; </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>until the Expiry Time, to not, without the prior written
      consent of the Purchaser, requisition or join in the requisition of any
      meeting of any of the securityholders of Sunward for the purpose of
      considering any resolution;</P></TD></TR></TABLE><BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>from time to time, until the Expiry Time, when any
      meeting of Sunward securityholders is held, to appear at such meeting or
      otherwise cause the applicable Subject Securities to be counted as present
      thereat for the purpose of establishing a quorum;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(e) </TD>
    <TD>
      <P align=justify>until the Expiry Time, neither the Securityholder nor any
      of his, her or its Representatives will, directly or indirectly: (A)
      solicit, initiate, encourage or otherwise facilitate (including by way of
      entering into any agreement, arrangement or understanding) inquiries,
      submissions of proposals or offers from, or provide information to, any
      other Person, entity or group (other than the Purchaser) relating to any
      Acquisition Proposal or potential Acquisition Proposal, (B) participate in
      any discussions or negotiations regarding any Acquisition Proposal, or (C)
      accept, enter into or endorse, or publicly propose to accept or enter
      into, any letter of intent, agreement, arrangement or understanding
      related to any Acquisition Proposal. Nothing in this Section 3.1(e) shall
      prevent any shareholder, director or officer of the Securityholder, if
      applicable, who is also a director or officer of Sunward from fulfilling
      his or her fiduciary obligations, provided that such act or thing is
      permitted by and is done in strict compliance with the terms of the
      Arrangement Agreement;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(f) </TD>
    <TD>
      <P align=justify>to:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>immediately cease and cause to be terminated any and all
      solicitations, encouragements, existing discussions and negotiations, if
      any, with any Person or group or any agent or representative of such
      Person or group with respect to any Acquisition Proposal or potential
      Acquisition Proposal; and</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>immediately (and in any event within 48 hours following
      receipt) notify the Purchaser of any Acquisition Proposal or inquiry in
      respect of a potential Acquisition Proposal of which the Securityholder
      or, to the knowledge of the Securityholder, any of the shareholders,
      directors or officers of the Securityholder, if applicable, becomes aware.
      Such notification shall be made orally and in writing and shall include
      the identity of the Person making such Acquisition Proposal or inquiry and
      a description of the material terms and conditions thereof, together with
      a copy of all documentation relating to such Acquisition Proposal or
      inquiry; provided however that such notification shall not be required if
      Sunward has already notified the Purchaser in the manner contemplated by
      the Arrangement Agreement;</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(g) </TD>
    <TD>
      <P align=justify>to waive any rights of appraisal or rights of dissent
      that the Securityholder may have arising from the transactions
      contemplated by the Arrangement Agreement;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(h) </TD>
    <TD>
      <P align=justify>until the Expiry Time, to not make any statements which
      may reasonably be construed as being against the transactions contemplated
      by the Arrangement Agreement or any aspect thereof and to not bring, or
      threaten to bring, any suit or proceeding for the purpose of, or which has
      the effect of, directly or indirectly, stopping, preventing, impeding,
      delaying or varying such transactions or any aspect thereof;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>to promptly notify the Purchaser of any acquisitions by
      the Securityholder or any of his, her or its affiliates of any securities
      of Sunward, if any, after the date hereof, which, for greater certainty,
      shall include any Sunward Options and Sunward DSUs and any Sunward Shares
      issuable upon the exercise, conversion or vesting, as applicable, of any Sunward Options or Sunward DSUs, owned or controlled by the
Securityholder which may be exercised, converted into or exchanged for Sunward
Shares. Any such securities shall be subject to the terms of this Agreement as
though they were Subject Securities owned by the Securityholder on the date
hereof;</P></TD></TR></TABLE>
<P align=right>8 </P>
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<TABLE
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  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(j) </TD>
    <TD>
      <P align=justify>until the Expiry Time, not to (i) exercise any
      securityholder rights or remedies available at common law or pursuant to
      applicable securities legislation; or (ii) take any other action of any
      kind, in each case which might reasonably be regarded as likely to reduce
      the success of, or delay or interfere with the completion of, the
      transactions contemplated by the Arrangement Agreement;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(k) </TD>
    <TD>
      <P align=justify>the Securityholder hereby irrevocably consents
  to:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>details of this Agreement being set out in any
      information circular and court documents produced by Sunward, the
      Purchaser or any of their respective affiliates in connection with the
      transactions contemplated by this Agreement and the Arrangement Agreement;
      and</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>this Agreement being made publicly available, including
      by filing on SEDAR;</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(l) </TD>
    <TD>
      <P align=justify>except as required by applicable Law or applicable stock
      exchange requirements, not to make any public announcement or statement
      with respect to the transactions contemplated herein or pursuant to the
      Arrangement Agreement without the prior written approval of the Purchaser
      and, in the case any such public announcement or statement is required by
      applicable Law or applicable stock exchange requirements, to consult with
      the Purchaser and provide the Purchaser a reasonable opportunity to review
      and comment on any such public announcement or statement, and give
      reasonable consideration to any comments made by the Purchaser and its
      legal counsel; and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(m) </TD>
    <TD>
      <P align=justify>to use his or her commercially reasonable efforts to
      take, or cause to be taken, all actions, and to do, or cause to be done,
      and to assist and cooperate with Sunward and the Purchaser in doing, all
      things necessary, proper or advisable to consummate and make effective, in
      the most expeditious manner possible, the Arrangement and the other
      transactions contemplated by the Arrangement Agreement, and to carry out
      the intents and purposes of this Agreement, and, other than pursuant to
      and in compliance with Section 7.2 of the Arrangement Agreement, to not
      enter into any agreement or understanding or make any commitment with any
      Person that would violate any provision or agreement contained in this
      Agreement.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>3.2</B> </TD>
    <TD>
      <P align=justify><B>Covenants of the Purchaser</B></P></TD></TR></TABLE>
<P align=justify>The Purchaser shall, in accordance with applicable Laws, take
all reasonable steps as may be necessary to appoint the Board Nominees to the
board of directors of the Purchaser as of the Effective Time. </P>
<P align=center><B>ARTICLE 4 </B><BR><B>GENERAL</B></P>
<TABLE
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cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.1</B> </TD>
    <TD>
      <P align=justify><B>Termination</B></P></TD></TR></TABLE>
<P align=justify>This Agreement shall terminate and be of no further force or
effect upon the earliest of:</P>
<P align=right>9 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<TABLE
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  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>the written agreement of the Purchaser and the
      Securityholder;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>the termination of the Arrangement Agreement in
      accordance with its terms;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>written notice by the Securityholder if the Purchaser,
      without the prior written consent of the Securityholder, decreases the
      amount of Consideration as set out in the Arrangement Agreement (provided
      that a decrease in the market price of the Consideration Shares will not
      constitute a decrease in the amount of Consideration); or</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>the Effective Date.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.2</B> </TD>
    <TD>
      <P align=justify><B>Time of the Essence</B></P></TD></TR></TABLE>
<P align=justify>Time shall be of the essence in this Agreement. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.3</B> </TD>
    <TD>
      <P align=justify><B>Equitable Relief</B></P></TD></TR></TABLE>
<P align=justify>The Parties agree that irreparable harm will occur for which
money damages will not be an adequate remedy at Law in the event that any of the
provisions of this Agreement are not performed by the Securityholder or any of
its affiliates in accordance with their terms or are otherwise breached. It is
accordingly agreed that the Purchaser shall be entitled to seek an injunction or
injunctions and other equitable relief to prevent breaches or threatened
breaches of the provisions of this Agreement by the Securityholder or any of its
affiliates and shall be entitled to obtain specific performance by the
Securityholder or any of its affiliates of any such provisions. The
Securityholder hereby agrees not to seek the posting of any security bond or
other assurance in respect of such injunctive or other equitable relief. Such
remedies will not be the exclusive remedies for any breach of this Agreement and
will be in addition to all other remedies available at Law or equity. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.4</B> </TD>
    <TD>
      <P align=justify><B>Fiduciary Duties</B></P></TD></TR></TABLE>
<P align=justify>The Purchaser hereby agrees that the Securityholder is not
making any agreement or understanding herein in any capacity other than in his,
her or its capacity as securityholder of Sunward. Nothing herein shall in any
way limit any actions that the Securityholder may take that are, upon the advice
of counsel, necessary to discharge such Person&#146;s fiduciary duties as a director
of Sunward.</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.5</B> </TD>
    <TD>
      <P align=justify><B>Waiver; Amendment</B></P></TD></TR></TABLE>
<P align=justify>Each Party agrees and confirms that any provision of this
Agreement may be amended or waived if, and only if, such amendment or waiver is
in writing and signed, in the case of an amendment, by the Securityholder and
the Purchaser or in the case of a waiver, by the Party against whom the waiver
is to be effective and no failure or delay by any Party in exercising any right,
power or privilege hereunder shall operate as a waiver thereof nor shall any
single or partial exercise thereof preclude any other or further exercise. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.6</B> </TD>
    <TD>
      <P align=justify><B>Entire Agreement</B></P></TD></TR></TABLE>
<P align=justify>This Agreement constitutes the entire agreement among the
Parties with respect to the subject matter hereof and supersedes all prior
agreements and understandings among the Parties with respect thereto. </P>
<P align=right>10 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.7</B> </TD>
    <TD>
      <P align=justify><B>Notices</B></P></TD></TR></TABLE>
<P align=justify>Any notice, consent, approval or other communication required
or permitted to be given in connection with this Agreement (in this Section
referred to as a &#147;<B>Notice</B>&#148;) shall be in writing and shall be sufficiently
given if delivered (whether in person, by courier service or other personal
method of delivery), or if transmitted by facsimile or e-mail: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>if to the Purchaser:</P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 10%" align=justify>NovaCopper Inc. <BR>Suite 1950 - 777
Dunsmuir Street <BR>Vancouver, BC V7Y 1K4 </P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="50%" border=0>

  <TR vAlign=top>
    <TD width="20%" >&nbsp;</TD>
    <TD align=left>Attention: </TD>
    <TD align=left width="60%">Chief Executive Officer </TD></TR>
  <TR vAlign=top>
    <TD width="20%">&nbsp;</TD>
    <TD align=left>Facsimile: </TD>
    <TD align=left width="60%">604-638-8088 </TD></TR></TABLE></DIV>
<P style="MARGIN-LEFT: 10%" align=justify>with a copy (which shall not
constitute notice) to: </P>
<P style="MARGIN-LEFT: 10%" align=justify>Blake, Cassels &amp; Graydon LLP
<BR>595 Burrard Street, Suite 2600 <BR>P.O. Box 49314, Three Bentall Centre
<BR>Vancouver, BC V7X 1L3 </P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="50%" border=0>

  <TR vAlign=top>
    <TD width="20%" >&nbsp;</TD>
    <TD align=left>Attention: </TD>
    <TD align=left width="60%">Trisha Robertson </TD></TR>
  <TR vAlign=top>
    <TD width="20%">&nbsp;</TD>
    <TD align=left>Facsimile: </TD>
    <TD align=left width="60%">604-631-3309 </TD></TR>
  <TR vAlign=top>
    <TD width="20%">&nbsp;</TD>
    <TD align=left>Email: </TD>
    <TD align=left width="60%">trisha.robertson@blakes.com
</TD></TR></TABLE></DIV><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>if to the Securityholder:</P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 10%" align=justify>Gold First Investments Limited <BR>c/o
Unit 801-2, 8/F, Tung Hip Commercial Building <BR>244-248 Des Voeux Road
Central, Hong Kong </P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="50%" border=0>

  <TR vAlign=top>
    <TD width="20%"  >&nbsp;</TD>
    <TD align=left >Attention: </TD>
    <TD align=left width="60%">Andrew Philip BURGIN </TD></TR>
  <TR vAlign=top>
    <TD width="20%" >&nbsp;</TD>
    <TD align=left >Facsimile: </TD>
    <TD align=left width="60%">+852 2575 5050 </TD></TR>
  <TR vAlign=top>
    <TD width="20%" >&nbsp;</TD>
    <TD align=left >Email: </TD>
    <TD align=left width="60%">andrewb@a-pass.com.hk
</TD></TR></TABLE></DIV>
<P align=justify>Any Notice delivered or transmitted to
a Party as provided above shall be deemed to have been given and received on the
day it is delivered or transmitted, provided that it is delivered or transmitted
on a Business Day prior to 5:00 p.m. local time in the place of delivery or
receipt. If the Notice is delivered or transmitted after 5:00 p.m. local time or
if the day is not a Business Day, then the Notice shall be deemed to have been
given and received on the next Business Day. </P>
<P align=justify>Either Party may, from time to time,
change its address by giving Notice to the other Party in accordance with the
provisions of this Section 4.7. </P>
<P align=right>11 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_12></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.8</B> </TD>
    <TD>
      <P align=justify><B>Severability</B></P></TD></TR></TABLE>
<P align=justify>If any term or other provision of this Agreement is invalid,
illegal or incapable of being enforced by any rule or Law or public policy, all
other conditions and provisions of this Agreement shall nevertheless remain in
full force and effect so long as the economic or legal substance of the
transactions contemplated hereby is not affected in any manner materially
adverse to any Party. Upon such determination that any term or other provision
is invalid, illegal or incapable of being enforced, the Parties shall negotiate
in good faith to modify this Agreement so as to effect the original intent of
the Parties as closely as possible in an acceptable manner to the end that the
transactions contemplated hereby are fulfilled to the fullest extent possible.
</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.9</B> </TD>
    <TD>
      <P align=justify><B>Successors and Assigns</B></P></TD></TR></TABLE>
<P align=justify>The provisions of this Agreement shall be binding upon and
enure to the benefit of the Parties and their respective successors, permitted
assigns and personal representatives, provided that no Party may assign,
delegate or otherwise transfer any of its rights, interests or obligations under
this Agreement without the prior written consent of the other Party hereto,
except that the Purchaser may assign, delegate or otherwise transfer any of its
rights, interests or obligations under this Agreement to any of its affiliates
without reducing its own obligations hereunder without the consent of the
Securityholder. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.10</B> </TD>
    <TD>
      <P align=justify><B>Expenses</B></P></TD></TR></TABLE>
<P align=justify>Each Party shall pay all costs and expenses (including the fees
and disbursements of legal counsel and other advisers) it incurs in connection
with the negotiation, preparation and execution of this Agreement and the
transactions contemplated by this Agreement. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.11</B> </TD>
    <TD>
      <P align=justify><B>Independent Legal Advice</B></P></TD></TR></TABLE>
<P align=justify>Each of the Parties hereby acknowledges that it has been
afforded the opportunity to obtain independent legal advice and confirms by the
execution of this Agreement that it has either done so or waived its right to do
so in connection with the entering into of this Agreement. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.12</B> </TD>
    <TD>
      <P align=justify><B>Further Assurances</B></P></TD></TR></TABLE>
<P align=justify>The Parties shall, with reasonable diligence, do all things and
provide all such reasonable assurances as may be required to consummate the
transactions contemplated by this Agreement, and each Party shall provide such
further documents or instruments required by the other Party as may be
reasonably necessary or desirable to effect the purpose of this Agreement and
carry out its provisions, whether before or after the Effective Time. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.13</B> </TD>
    <TD>
      <P align=justify><B>Rules of Construction</B></P></TD></TR></TABLE>
<P align=justify>The Parties have participated jointly in negotiating and
drafting this Agreement. If an ambiguity or a question of intent or
interpretation arises, this Agreement shall be construed as if drafted jointly
by the Parties, and no presumption or burden of proof shall arise favouring or
disfavouring any Party by virtue of the authorship of any provision of this
Agreement. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.14</B> </TD>
    <TD>
      <P align=justify><B>No Third Party
Beneficiaries</B></P></TD></TR></TABLE>
<P align=justify>The Parties hereby agree that their respective representations,
warranties, covenants and agreements set forth herein are solely for the benefit
of the other Party hereto, in accordance with and subject to the terms of this Agreement, and this Agreement is not intended to, and
does not, confer upon any Person other than the parties hereto any rights or
remedies hereunder, including the right to rely upon the representations and
warranties set forth herein. </P>
<P align=right>12 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.15</B> </TD>
    <TD>
      <P align=justify><B>Execution and Delivery</B></P></TD></TR></TABLE>
<P align=justify>This Agreement may be executed by the Parties in counterparts
and may be executed and delivered by facsimile and all the counterparts and
facsimiles together constitute one and the same agreement. </P>
<P align=center>[<I>Remainder of page intentionally left blank</I>] </P>
<P align=right>13 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<P align=justify><B>IN WITNESS WHEREOF</B> the Parties have executed this
Agreement. </P>
<P style="MARGIN-LEFT: 50%" align=justify><B>GOLD FIRST INVESTMENTS LIMITED</B>
</P>
<DIV align=right>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="50%" border=0>

  <TR vAlign=top>
    <TD align=left>By: </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="90%"><I>/s/
      Andrew Philip Burgin</I> </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="90%">&nbsp; &nbsp;Name: Andrew Philip BURGIN </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="90%">&nbsp; &nbsp;Title: Director
</TD></TR></TABLE></DIV>
<P style="MARGIN-LEFT: 50%" align=justify><B>NOVACOPPER INC. </B></P>
<DIV align=right>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="50%" border=0>

  <TR vAlign=top>
    <TD align=left >By: </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="90%">/s/
      Elaine Sanders </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; </TD>
    <TD align=left width="90%">&nbsp; &nbsp;Name: Elaine Sanders </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; </TD>
    <TD align=left width="90%">&nbsp; &nbsp;Title: VP &amp; Chief Financial
      Officer </TD></TR></TABLE></DIV>
<P align=right>14 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_15></A>
<P align=center><B>SCHEDULE</B><B> &#147;A&#148; </B></P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="100%" border=1>

  <TR vAlign=top>
    <TD noWrap align=center><B>Registered Owner</B> </TD>
    <TD noWrap align=center width="20%"><B>Beneficial Owner</B> </TD>
    <TD noWrap align=center width="20%"><B>Sunward Options</B> </TD>
    <TD noWrap align=center width="20%"><B>Sunward DSUs</B> </TD>
    <TD noWrap align=center width="20%"><B>Sunward Shares</B> </TD></TR>
  <TR vAlign=top>
    <TD vAlign=center align=left>
      <P>Gold First Investments Limited </P>
      <P>&nbsp;</P></TD>
    <TD vAlign=center align=left width="20%">
      <P>Lakeview Group Holdings Limited&#146; </P>
      <P>Notela Resource Advisors Ltd. </P></TD>
    <TD vAlign=center align=center width="20%">Nil </TD>
    <TD vAlign=center align=center width="20%">Nil </TD>
    <TD vAlign=center align=center width="20%">46.4m common shares
  </TD></TR></TABLE></DIV><BR>
<HR align=center width="100%" color=black noShade SIZE=5>

</BODY>

</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>4
<FILENAME>exhibit10-2.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
<HTML>
<HEAD>
   <TITLE>NovaCopper Inc.: Exhibit 10.2 - Filed by newsfilecorp.com</TITLE>
   <META name="HandheldFriendly" content="true">
</HEAD>

<BODY style="font-size:10pt;">

<HR noshade align="center" width=100% size=3 color="black">
<!--$$/page=--><A name=page_1></A>
<P align=right>EXECUTION COPY </P>
<P align=center><B>VOTING SUPPORT AGREEMENT </B></P>
<P style="MARGIN-LEFT: 5%" align=justify><B>THIS AGREEMENT</B> is made as of
April 22, 2015 </P>
<P align=justify><B>BETWEEN: </B></P>
<P style="MARGIN-LEFT: 10%" align=justify><B>NOVACOPPER INC.</B>, a corporation
existing under the laws of the Province of British Columbia (the
&#147;<B>Purchaser</B>&#148;) </P>
<P align=center>- and - </P>
<P style="MARGIN-LEFT: 10%" align=justify>Electrum Strategic Acquisitions LLC, a
limited liability company organized and existing under the laws of the State of
Delaware (the &#147;<B>Securityholder</B>&#148;) </P>
<P align=justify><B>RECITALS: </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">1. </TD>
    <TD>
      <P align=justify>The Securityholder is the beneficial owner of, or has
      control or direction over, the Subject Securities.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">2. </TD>
    <TD>
      <P align=justify>The Securityholder understands that Sunward Resources
      Ltd. (&#147;<B>Sunward</B>&#148;) and the Purchaser are, concurrently with the
      execution and delivery of this Agreement, executing and delivering the
      Arrangement Agreement.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">3. </TD>
    <TD>
      <P align=justify>This Agreement sets out the terms and conditions of the
      agreement of the Securityholder to abide by the covenants in respect of
      the Subject Securities and the other restrictions and covenants set forth
      herein.</P></TD></TR></TABLE>
<P style="text-indent:5%" align=justify><B >NOW THEREFORE</B>, in
consideration of the mutual covenants in this Agreement and for other good and
valuable consideration (the receipt and sufficiency of which are hereby
acknowledged) the parties hereto agree as follows: </P>
<P align=center><B>ARTICLE 1 </B><BR><B>INTERPRETATION </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>1.1</B> </TD>
    <TD>
      <P align=justify><B>Definitions</B></P></TD></TR></TABLE>
<P align=justify>Capitalized terms used herein and not otherwise defined have
the meanings ascribed thereto in the Arrangement Agreement. In this Agreement,
including the recitals: </P>
<P align=justify>&#147;<B>affiliate</B>&#148; has the meaning ascribed thereto in the
Securities Act; </P>
<P align=justify>&#147;<B>Arrangement Agreement</B>&#148; means the arrangement agreement,
dated as of the date hereof, between Sunward and the Purchaser; </P>
<P align=justify>&#147;<B>Business Day</B>&#148; means any day, other than a Saturday, a
Sunday or a statutory or civic holiday in Toronto, Ontario or Vancouver, British
Columbia; </P>
<P align=justify>&#147;<B>Contract</B>&#148; means any contract, agreement, license,
franchise, lease, arrangement, commitment, understanding, joint venture,
partnership or other right or obligation (written or oral) to which a Party or
any of its subsidiaries (if applicable) is a party or by which it or any of its
subsidiaries (if applicable) is bound or affected or to which any of their
respective properties or assets is subject; </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_2></A>
<P align=justify>&#147;<B>Expiry Time</B>&#148; has the meaning ascribed thereto in
Section 3.1(a); </P>
<P align=justify>&#147;<B>Governmental Entity</B>&#148; means: (a) any multinational,
national, federal, provincial, territorial, state, regional, municipal, local or
other government, governmental or public department, central bank, court,
tribunal, arbitral body, commission, board, bureau, ministry, agency or entity,
domestic or foreign; (b) any stock exchange, including the TSX or the NYSE MKT;
(c) any subdivision, agent, commission, board or authority of any of the
foregoing; or (d) any quasigovernmental or private body, including any tribunal,
commission, regulatory agency or self-regulatory organization, exercising any
regulatory, expropriation or taxing authority under or for the account of any of
the foregoing; (e) any corporation or other body that is wholly or partially
owned (20% or greater) or controlled by any of the above; or (f) any public
international organization; </P>
<P align=justify>&#147;<B>Law</B>&#148; or &#147;<B>Laws</B>&#148; means all laws (including common
law), by-laws, statutes, rules, regulations, principles of law and equity,
orders, rulings, ordinances, judgments, injunctions, determinations, awards,
decrees or other requirements, whether domestic or foreign, and the terms and
conditions of any Permit of or from any Governmental Entity or self-regulatory
authority (including the TSX and the NYSE MKT), and the term &#147;<B>applicable</B>&#148;
with respect to such Laws and in a context that refers to a Party, means such
Laws as are applicable to such Party and/or its subsidiaries or their business,
undertaking, property or securities and emanate from a Person having
jurisdiction over the Party and/or its subsidiaries or its or their business,
undertaking, property or securities; </P>
<P align=justify>&#147;<B>Notice</B>&#148; has the meaning ascribed thereto in Section
4.7; </P>
<P align=justify>&#147;<B>Parties</B>&#148; means NovaCopper Inc. and the Securityholder,
and &#147;<B>Party</B>&#148; means any of them; </P>
<P align=justify>&#147;<B>Person</B>&#148; includes an individual, partnership,
association, body corporate, trustee, executor, administrator, legal
representative, government (including any Governmental Entity) or any other
entity, whether or not having legal status; </P>
<P align=justify>&#147;<B>Securities Act</B>&#148; means the <I>Securities Act</I>
(British Columbia) and the rules, regulations and published policies made
thereunder, as now in effect and as they may be promulgated or amended from time
to time; </P>
<P align=justify>&#147;<B>Subject Securities</B>&#148; means the Subject Shares and any
securities exercisable or exchangeable for, or convertible into, Subject Shares
(including Sunward Options and Sunward DSUs) beneficially owned, directly or
indirectly, or controlled or directed, by the Securityholder; </P>
<P align=justify>&#147;<B>Subject Shares</B>&#148; means all Sunward Shares beneficially
owned, directly or indirectly, or controlled or directed, by the Securityholder,
which, for greater certainty, shall include any Sunward Shares issuable upon the
exercise, exchange, vesting or conversion of any security (including Sunward
Options and Sunward DSUs) beneficially owned, directly or indirectly, or
controlled or directed by the Securityholder which may be exercised, converted
into or exchanged for Sunward Shares and shall also include any and all
distributions of securities made in respect of such Subject Shares on or after
the date hereof, and shall further include any Sunward Shares the direct or
indirect beneficial ownership of which, or control or direction over which, is
acquired after the date hereof by the Securityholder; and </P>
<P align=justify>&#147;<B>Transfer</B>&#148; has the meaning ascribed thereto in Section
3.1(a) . </P>
<P align=right>2 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>1.2</B> </TD>
    <TD>
      <P align=justify><B>Singular; Plural, etc.</B></P></TD></TR></TABLE>
<P align=justify>In this Agreement, words importing the singular number include
the plural and vice versa and words importing gender include the masculine,
feminine and neuter genders. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>1.3</B> </TD>
    <TD>
      <P align=justify><B>Headings, etc.</B></P></TD></TR></TABLE>
<P align=justify>The division of this Agreement into Articles, Sections and
Schedules and the insertion of the recitals and headings are for convenience of
reference only and shall not affect the construction or interpretation of this
Agreement and, unless otherwise stated, all references in this Agreement or in
the Schedules hereto to Articles, Sections and Schedules refer to Articles,
Sections and Schedules of and to this Agreement or of the Schedules in which
such reference is made, as applicable. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>1.4</B> </TD>
    <TD>
      <P align=justify><B>Date for any Action</B></P></TD></TR></TABLE>
<P align=justify>In the event that any date on which any action is required to
be taken hereunder by any of the Parties is not a Business Day, such action
shall be required to be taken on the next succeeding day which is a Business
Day. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>1.5</B> </TD>
    <TD>
      <P align=justify><B>Governing Law</B></P></TD></TR></TABLE>
<P align=justify>This Agreement shall be governed, including as to validity,
interpretation and effect, by the Laws of the Province of British Columbia and
the Laws of Canada applicable therein. Each of the Parties hereby irrevocably
attorns to the jurisdiction of the Courts of the Province of British Columbia in
respect of all matters arising under and in relation to this Agreement. The
Parties hereto agree that in any legal proceeding there shall not be any
adjudication by jury and no awards shall be sought or awarded for special,
consequential or punitive damages or lost profits.</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>1.6</B> </TD>
    <TD>
      <P align=justify><B>Incorporation of Schedules</B></P></TD></TR></TABLE>
<P align=justify>The Schedules attached hereto and described below shall, for
all purposes hereof, form an integral part of this Agreement: </P>
<P style="MARGIN-LEFT: 5%" align=justify>Schedule A &#150; Subject Securities </P>
<P align=center><B>ARTICLE 2 </B><BR><B>REPRESENTATIONS AND WARRANTIES </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>2.1</B> </TD>
    <TD>
      <P align=justify><B>Representations and Warranties of the
      Securityholder</B></P></TD></TR></TABLE>
<P align=justify>The Securityholder represents and warrants to the Purchaser
(and understands and acknowledges that the Purchaser is relying on these
representations and warranties in entering into the Arrangement Agreement and
completing the transactions contemplated hereby and by the Arrangement
Agreement) the matters set out below: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>if an individual, the Securityholder has the legal
      capacity to execute and deliver this Agreement and to consummate the
      transactions contemplated by this Agreement; if a Person other than an
      individual, the Securityholder is validly existing under the laws of its
      governing jurisdiction, has all necessary power and authority to enter
      into this Agreement and has taken all steps necessary to authorize the
      execution of this Agreement and the performance of its obligations under
      this Agreement. This Agreement has been duly executed and delivered by the Securityholder and
constitutes a legal, valid and binding obligation of the Securityholder,
enforceable against the Securityholder in accordance with its terms; </P></TD></TR></TABLE>
<P align=right>3 </P>
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<TABLE
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cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>the securities set forth in Schedule A represent all the
      Subject Securities beneficially owned, directly or indirectly, or
      controlled or directed, by the Securityholder as of the date hereof. Other
      than the securities set forth in Schedule A, neither the Securityholder
      nor any of his, her or its affiliates beneficially owns, directly or
      indirectly, or exercises control or direction over, or has any agreement
      or option, or right or privilege (whether by Law, pre-emptive or
      contractual) capable of becoming an agreement or option, for the purchase
      or acquisition by the Securityholder or any of his, her or its affiliates
      or transfer to the Securityholder or any of his, her or its affiliates of
      any additional securities of Sunward or any of its affiliates;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>the Securityholder is, and will continue to be from the
      date hereof (or in the case of any Subject Securities acquired after the
      date hereof, from the date of each such acquisition) through to the Expiry
      Time, the sole beneficial owner of the Subject Securities, with good and
      marketable title thereto, free and clear of all Liens (other than (i) any
      restrictions on transfer imposed by applicable Securities Laws and (ii) as
      provided under this Agreement);</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>the Securityholder has the sole right to dispose of and
      vote (to the extent permitted by the attributes of such Subject Securities
      or pursuant to applicable Laws, regulation or policy), or direct the
      disposal and voting of, the Subject Securities;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(e) </TD>
    <TD>
      <P align=justify>no Person has any agreement or option, or any right or
      privilege (whether by Laws, pre- emptive or contractual) capable of
      becoming an agreement or option, providing for the purchase, acquisition
      or transfer of any of the Subject Securities or any interest therein or
      right thereto, except the Purchaser pursuant to the Arrangement
      Agreement;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(f) </TD>
    <TD>
      <P align=justify>none of the Subject Securities is subject to any proxy,
      voting trust, vote pooling or other agreement with respect to the right to
      vote, call meetings of any of Sunward&#146;s securityholders or give consents
      or approvals of any kind other than approvals which have been
    obtained;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(g) </TD>
    <TD>
      <P align=justify>none of the execution and delivery by the Securityholder
      of this Agreement or the completion of the transactions contemplated
      hereby or the compliance by the Securityholder with the Securityholder&#146;s
      obligations hereunder will violate, contravene, result in any breach of,
      or be in conflict with, or constitute a default under, or create a state
      of facts which after notice or lapse of time or both would constitute a
      default under, any term or provision of: (i) if the Securityholder is not
      an individual, any constating or governing documents or resolutions of the
      Securityholder; (ii) any Contract to which the Securityholder is a party
      or by which the Securityholder or any of the property or assets of the
      Securityholder are bound; (iii) any judgment, decree, order or award of
      any Governmental Entity; or (iv) any applicable Laws;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(h) </TD>
    <TD>
      <P align=justify>no consent, waiver, approval, authorization, order,
      exemption, registration, license or declaration of or by, or filing with,
      or notification to any Governmental Entity or other third party which has
      not been made or obtained is required to be made or obtained by the
      Securityholder or any of his, her or its affiliates in connection with the
      execution and delivery by the Securityholder and enforcement against the
      Securityholder of this Agreement or the consummation of any transactions provided for
herein (provided that the Securityholder makes no representations or warranties
with respect to the consents, waivers, approvals, authorizations or declarations
of or by, or filings with, or notices to any Governmental Entities or other
third parties on the part of Sunward or the Purchaser necessary for the
consummation of the transactions contemplated by the Arrangement Agreement);</P></TD></TR></TABLE>
<P align=right>4 </P>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>there is no private or governmental action, suit, claim,
      arbitration or other proceeding in progress or, to the knowledge of the
      Securityholder, pending before any Governmental Entity, or, to the
      knowledge of the Securityholder, threatened against the Securityholder or
      any of his, her or its affiliates or, if applicable, to the knowledge of
      the Securityholder any of their respective directors or officers (in their
      capacities as such) that, individually or in the aggregate, could
      adversely affect the Securityholder&#146;s ability to enter into this Agreement
      or perform his, her or its obligations hereunder or the title of the
      Securityholder to any of the Subject Securities. There is no judgment,
      decree or order against the Securityholder or any of his, her or its
      affiliates or, if applicable, any of their directors or officers (in their
      capacities as such) that would reasonably be expected to prevent, enjoin,
      alter, delay or adversely affect the ability of the Securityholder to
      enter into this Agreement, to perform his, her or its obligations under
      this Agreement or the title of the Securityholder to any of the Subject
      Securities;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(j) </TD>
    <TD>
      <P align=justify>the Securityholder is a sophisticated investor with
      respect to the Subject Securities and has independently and without
      reliance upon the Purchaser and based on such information as the
      Securityholder has deemed appropriate, made his, her or its own analysis
      and decision to enter into this Agreement. The Securityholder has received
      a copy of the Arrangement Agreement and has had an opportunity to review
      the Arrangement Agreement with his, her or its legal counsel. As of the
      date hereof, the Securityholder has full knowledge of and access to
      information concerning Sunward and the Sunward Shares. The Securityholder
      acknowledges that, unless and until this Agreement is terminated in
      accordance with its terms, the agreements contained herein with respect to
      the Subject Securities by the Securityholder are irrevocable;
and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(k) </TD>
    <TD>
      <P align=justify>the Securityholder (i) is not the beneficial owner of,
      and does not have control or direction over, any securities of the
      Purchaser or any of its subsidiaries; or (ii) is party to a voting
      agreement with Sunward, substantially in the form of this Agreement,
      pursuant to which the Securityholder has agreed, among other things, to
      vote his, her or its NovaCopper Shares in favour of the issuance of the
      Consideration Shares and reservation for issuance of the Option Shares in
      connection with the Arrangement.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>2.2</B> </TD>
    <TD>
      <P align=justify><B>Representations and Warranties of the
    Purchaser</B></P></TD></TR></TABLE>
<P align=justify>The Purchaser represents and warrants to the Securityholder
(and acknowledges that the Securityholder is relying on these representations
and warranties in completing the transactions contemplated hereby) the matters
set out below: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>the Purchaser is a corporation duly incorporated and
      validly existing under the laws of the Province of British Columbia and
      has all necessary corporate power, authority and capacity to enter into
      this Agreement and the Arrangement Agreement and to carry out its
      obligations under this Agreement and the Arrangement Agreement. The
      execution and delivery of this Agreement and the Arrangement Agreement and
      the consummation of the transactions contemplated by this Agreement and
      the Arrangement Agreement have been duly authorized by all necessary corporate action on
the part of the Purchaser. Each of this Agreement and the Arrangement Agreement
has been duly executed and delivered by the Purchaser and constitutes a legal,
valid and binding obligation of the Purchaser, enforceable against the Purchaser
in accordance with its terms; </P></TD></TR></TABLE>
<P align=right>5 </P>
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  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>except as would not materially hinder, delay or impede
      the consummation of the transaction contemplated by this Agreement and the
      Arrangement Agreement, none of the execution and delivery by the Purchaser
      of this Agreement or the completion of the transactions contemplated
      hereby or the compliance by the Purchaser with the Purchaser&#146;s obligations
      hereunder will violate, contravene, result in any breach of, or be in
      conflict with, or constitute a default under, or create a state of facts
      which after notice or lapse of time or both would constitute a default
      under, any term or provision of: (i) any constating or governing documents
      or resolutions of the Purchaser; (ii) any Contract to which the Purchaser
      is a party or by which the Purchaser or any of the property or assets of
      the Purchaser are bound; (iii) any judgment, decree, order or award of any
      Governmental Entity; or (iv) any applicable Laws;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>other than as set forth in the Arrangement Agreement, no
      consent, waiver, approval, authorization, order, exemption, registration,
      license or declaration of or by, or filing with, or notification to any
      Governmental Entity or other third party which has not been made or
      obtained is required to be made or obtained by the Purchaser or any of its
      affiliates in connection with the execution and delivery by the Purchaser
      and enforcement against the Purchaser of this Agreement or the Arrangement
      Agreement or the consummation of any transactions provided for herein or
      therein (provided that the Purchaser makes no representations or
      warranties with respect to the consents, waivers, approvals,
      authorizations or declarations of or by, or filings with, or notices to
      any Governmental Entities or other third parties on the part of Sunward or
      the Securityholder necessary for the consummation of the transactions
      contemplated herein or by the Arrangement Agreement); and</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>there is no private or governmental action, suit, claim,
      arbitration, investigation or other proceeding in progress or pending
      before any Governmental Entity, or, to the knowledge of the Purchaser,
      threatened against the Purchaser or any of its affiliates or any of their
      respective directors or officers (in their capacities as such) that,
      individually or in the aggregate, could impair the Purchaser&#146;s ability to
      enter into this Agreement or perform its obligations under this Agreement.
      There is no judgment, decree or order against the Purchaser or any of its
      affiliates or any of their directors or officers (in their capacities as
      such) that could prevent, enjoin, alter, delay or adversely affect the
      ability of the Purchaser to enter into this Agreement or to perform its
      obligations under this Agreement.</P></TD></TR></TABLE>
<P align=center><B>ARTICLE 3 </B><BR><B>COVENANTS </B></P>
<TABLE
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cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>3.1</B> </TD>
    <TD>
      <P align=justify><B>Covenants of the
Securityholder</B></P></TD></TR></TABLE>
<P align=justify>The Securityholder hereby irrevocably covenants and agrees as
follows: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>from the date of this Agreement until the termination of
      this Agreement in accordance with its terms (the &#147;<B>Expiry Time</B>&#148;),
      the Securityholder shall not (A) sell, transfer, gift, assign, convey,
      pledge, hypothecate, encumber, grant any option with respect to, grant
      a security interest in or otherwise dispose of any right or
interest in (including by way of deposit or tender under any take-over bid) (any
such event, a &#147;<b>Transfer</b>&#148;) any of the Subject Securities, other than the
exercise, exchange, vesting or conversion of Sunward Options or Sunward DSUs in
accordance with their terms for Sunward Shares, which Sunward Shares will become
Subject Securities hereunder, or enter into any agreement, arrangement or
understanding in connection therewith (whether by actual disposition or
effective economic disposition due to cash settlement or otherwise), other than
pursuant to the Arrangement, without having first obtained the prior written
consent of the Purchaser, or (B) other than as set forth herein, grant any
proxies or powers of attorney with respect to any Subject Securities, deposit
any Subject Securities into a voting trust, in any way transfer any of the
voting rights associated with any of the Subject Securities, or enter into a
voting agreement, understanding or arrangement with respect to the right to
vote, call meetings of Sunward Shareholders or give consents or approvals of any
kind with respect to any Subject Securities. In furtherance of this Agreement,
the Securityholder hereby authorizes the Purchaser, Sunward or their respective
legal counsel to notify Sunward&#146;s transfer agent that there is a stop transfer
order with respect to all of the Subject Securities (and that this Agreement
places limits on the voting and transfer of such Subject Securities, as
applicable), provided that if any such action involves costs to the
Securityholder, those costs shall be paid or reimbursed by the Purchaser. The
Parties agree that such stop transfer order shall be removed and shall be of no
further force and effect upon the termination of this Agreement in accordance
with Section 4.1; </P></TD></TR></TABLE>
<P align=right>6 </P>
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  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>from time to time, until the Expiry Time, to vote (or
      cause to be voted) all the Subject Shares at any meeting of any of the
      securityholders of Sunward at which the Securityholder is entitled to
      vote, including without limitation the Sunward Meeting, and in any action
      by written consent of the securityholders of
Sunward:</P></TD></TR></TABLE><BR>
<TABLE
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cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>in favour of the approval, consent, ratification and
      adoption of the Arrangement Resolution and the transactions contemplated
      by the Arrangement Agreement (and any actions required for the
      consummation of the transactions contemplated by the Arrangement
      Agreement); and</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>other than the Arrangement, against (A) any extraordinary
      corporate transaction, including any merger, reorganization,
      consolidation, amalgamation, arrangement, business combination, share
      exchange, liquidation, dissolution, recapitalization, or similar
      transaction involving Sunward or any of its subsidiaries; (B) any sale,
      lease or transfer of any significant part of the assets of Sunward or any
      of its subsidiaries; (C) any Acquisition Proposal involving Sunward or any
      of its subsidiaries; (D) any material change in the capitalization of
      Sunward or any of its subsidiaries or the corporate structure or
      constating documents of Sunward or any of its subsidiaries; (E) any action
      that would reasonably be expected to impede, delay, interfere with, or
      discourage the transactions contemplated by the Arrangement Agreement; and
      (F) any action or agreement that would result in a breach of any covenant,
      representation or warranty or any other obligation or agreement of Sunward
      under the Arrangement Agreement;</P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 10%" align=justify>in connection with the foregoing,
subject to this Section 3.1(b), the Securityholder shall deposit an irrevocable
proxy, duly completed and executed in respect of all of the Subject Shares at
least five (5) Business Days prior to the Sunward Meeting, voting all such
Subject Shares in favour of the Arrangement Resolution and otherwise in the
manner described in this Section 3.1(b) . Neither the Securityholder nor any
Person acting on his, 7 her or its behalf will take any action to withdraw, amend or
invalidate any proxy deposited by the Securityholder pursuant to this Agreement,
notwithstanding any statutory or other rights which the Securityholder might
have unless this Agreement is terminated in accordance with Section 4.1; </P>
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  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>until the Expiry Time, to not, without the prior written
      consent of the Purchaser, requisition or join in the requisition of any
      meeting of any of the securityholders of Sunward for the purpose of
      considering any resolution;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>from time to time, until the Expiry Time, when any
      meeting of Sunward securityholders is held, to appear in person or by
      proxy at such meeting or otherwise cause the applicable Subject Securities
      to be counted as present thereat for the purpose of establishing a
      quorum;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(e) </TD>
    <TD>
      <P align=justify>until the Expiry Time, neither the Securityholder nor any
      of his, her or its Representatives will, directly or indirectly: (A)
      solicit, initiate, encourage or otherwise facilitate (including by way of
      entering into any agreement, arrangement or understanding) inquiries,
      submissions of proposals or offers from, or provide information to, any
      other Person, entity or group (other than the Purchaser) relating to any
      Acquisition Proposal or potential Acquisition Proposal, (B) participate in
      any discussions or negotiations regarding any Acquisition Proposal, or (C)
      accept, enter into or endorse, or publicly propose to accept or enter
      into, any letter of intent, agreement, arrangement or understanding
      related to any Acquisition Proposal. Nothing in this Section 3.1(e) shall
      prevent any shareholder, director or officer of the Securityholder, if
      applicable, who is also a director or officer of Sunward from fulfilling
      his or her fiduciary obligations, provided that such act or thing is
      permitted by and is done in strict compliance with the terms of the
      Arrangement Agreement;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(f) </TD>
    <TD>
      <P align=justify>to immediately cease and cause to be terminated any and
      all solicitations, encouragements, existing discussions and negotiations,
      if any, with any Person or group or any agent or representative of such
      Person or group with respect to any Acquisition Proposal or potential
      Acquisition Proposal;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(g) </TD>
    <TD>
      <P align=justify>to waive any rights of appraisal or rights of dissent
      that the Securityholder may have arising from the transactions
      contemplated by the Arrangement Agreement;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(h) </TD>
    <TD>
      <P align=justify>until the Expiry Time, to not make any statements which
      may reasonably be construed as being against the transactions contemplated
      by the Arrangement Agreement or any aspect thereof and to not bring, or
      threaten to bring, any suit or proceeding for the purpose of, or which has
      the effect of, directly or indirectly, stopping, preventing, impeding,
      delaying or varying such transactions or any aspect thereof;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>to promptly notify the Purchaser of any acquisitions by
      the Securityholder or any of his, her or its affiliates of any securities
      of Sunward, if any, after the date hereof, which, for greater certainty,
      shall include any Sunward Options and Sunward DSUs and any Sunward Shares
      issuable upon the exercise, conversion or vesting, as applicable, of any
      Sunward Options or Sunward DSUs, owned or controlled by the Securityholder
      which may be exercised, converted into or exchanged for Sunward Shares.
      Any such securities shall be subject to the terms of this Agreement as
      though they were Subject Securities owned by the Securityholder on the
      date hereof;</P></TD></TR></TABLE>
<P align=right>8 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_9></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(j) </TD>
    <TD>
      <P align=justify>until the Expiry Time, not to (i) exercise any
      securityholder rights or remedies available at common law or pursuant to
      applicable securities legislation; or (ii) take any other action of any
      kind, in each case which might reasonably be regarded as likely to reduce
      the success of, or delay or interfere with the completion of, the
      transactions contemplated by the Arrangement Agreement;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(k) </TD>
    <TD>
      <P align=justify>the Securityholder hereby irrevocably consents
  to:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>details of this Agreement being set out in any
      information circular and court documents produced by Sunward, the
      Purchaser or any of their respective affiliates in connection with the
      transactions contemplated by this Agreement and the Arrangement Agreement;
      and</P></TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>this Agreement being made publicly available, including
      by filing on SEDAR; and</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(l) </TD>
    <TD>
      <P align=justify>except as required by applicable Law or applicable stock
      exchange requirements, not to make any public announcement or statement
      with respect to the transactions contemplated herein or pursuant to the
      Arrangement Agreement.</P></TD></TR></TABLE>
<P align=center><B>ARTICLE 4 </B><BR><B>GENERAL </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.1</B> </TD>
    <TD>
      <P align=justify><B>Termination</B></P></TD></TR></TABLE>
<P align=justify>This Agreement shall terminate and be of no further force or
effect upon the earliest of:</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>the written agreement of the Purchaser and the
      Securityholder;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>written notice by the Securityholder if the Purchaser,
      without the prior written consent of the Securityholder, decreases the
      amount of Consideration as set out in the Arrangement Agreement (provided
      that a decrease in the market price of the Consideration Shares will not
      constitute a decrease in the amount of Consideration); or</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>without any further action by the
  Parties:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>upon the earliest of:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(A) </TD>
    <TD>
      <P align=justify>the termination of the Arrangement Agreement in
      accordance with its terms;</P></TD></TR>
  <TR>
    <TD width="15%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%">&nbsp;</TD>
    <TD vAlign=top width="5%">(B) </TD>
    <TD>
      <P align=justify>the occurrence of a Sunward Termination Fee Event;
    or</P></TD></TR>
  <TR>
    <TD width="15%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%">&nbsp;</TD>
    <TD vAlign=top width="5%">(C) </TD>
    <TD>
      <P align=justify>the occurrence of a NovaCopper Termination Fee
    Event;</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>upon the failure of the transactions contemplated in the
      Arrangement Agreement to have been completed without any amendment to a
      material term of the Arrangement Agreement or a waiver of any material
      misrepresentation, material breach of warranty, or material failure to
      satisfy a covenant or a condition in the Arrangement Agreement on or
      before August 31, 2015; or</P></TD></TR></TABLE>
<P align=right>9 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_10></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD>
      <P align=justify>on the Effective Date.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.2</B> </TD>
    <TD>
      <P align=justify><B>Time of the Essence</B></P></TD></TR></TABLE>
<P align=justify>Time shall be of the essence in this Agreement. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.3</B> </TD>
    <TD>
      <P align=justify><B>Equitable Relief</B></P></TD></TR></TABLE>
<P align=justify>The Parties agree that irreparable harm will occur for which
money damages will not be an adequate remedy at Law in the event that any of the
provisions of this Agreement are not performed by the Securityholder or any of
its affiliates in accordance with their terms or are otherwise breached. It is
accordingly agreed that the Purchaser shall be entitled to seek an injunction or
injunctions and other equitable relief to prevent breaches or threatened
breaches of the provisions of this Agreement by the Securityholder or any of its
affiliates and shall be entitled to obtain specific performance by the
Securityholder or any of its affiliates of any such provisions. The
Securityholder hereby agrees not to seek the posting of any security bond or
other assurance in respect of such injunctive or other equitable relief. Such
remedies will not be the exclusive remedies for any breach of this Agreement and
will be in addition to all other remedies available at Law or equity. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.4</B> </TD>
    <TD>
      <P align=justify><B>Fiduciary Duties</B></P></TD></TR></TABLE>
<P align=justify>The Purchaser hereby agrees that the Securityholder is not
making any agreement or understanding herein in any capacity other than in his,
her or its capacity as securityholder of Sunward. Nothing herein shall in any
way limit any actions that the Securityholder may take that are, upon the advice
of counsel, necessary to discharge such Person&#146;s fiduciary duties as a director
of Sunward or as a director of the Purchaser.</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.5</B> </TD>
    <TD>
      <P align=justify><B>Waiver; Amendment</B></P></TD></TR></TABLE>
<P align=justify>Each Party agrees and confirms that any provision of this
Agreement may be amended or waived if, and only if, such amendment or waiver is
in writing and signed, in the case of an amendment, by the Securityholder and
the Purchaser or in the case of a waiver, by the Party against whom the waiver
is to be effective and no failure or delay by any Party in exercising any right,
power or privilege hereunder shall operate as a waiver thereof nor shall any
single or partial exercise thereof preclude any other or further exercise. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.6</B> </TD>
    <TD>
      <P align=justify><B>Entire Agreement</B></P></TD></TR></TABLE>
<P align=justify>This Agreement constitutes the entire agreement among the
Parties with respect to the subject matter hereof and supersedes all prior
agreements and understandings among the Parties with respect thereto. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.7</B> </TD>
    <TD>
      <P align=justify><B>Notices</B></P></TD></TR></TABLE>
<P align=justify>Any notice, consent, approval or other communication required
or permitted to be given in connection with this Agreement (in this Section
referred to as a &#147;<B>Notice</B>&#148;) shall be in writing and shall be sufficiently
given if delivered (whether in person, by courier service or other personal
method of delivery), or if transmitted by facsimile or e-mail: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>if to the Purchaser:</P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 10%" align=justify>NovaCopper Inc. <BR>Suite 1950 - 777
Dunsmuir Street <BR>
Vancouver, BC V7Y 1K4 </P>
<P align=right>10 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_11></A>

<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="50%" border=0>

  <TR vAlign=top>
    <TD width="20%" >&nbsp;</TD>
    <TD align=left>Attention: </TD>
    <TD align=left width="60%">Chief Executive Officer </TD></TR>
  <TR vAlign=top>
    <TD width="20%">&nbsp;</TD>
    <TD align=left>Facsimile: </TD>
    <TD align=left width="60%">604-638-8088 </TD></TR></TABLE></DIV>
<P style="MARGIN-LEFT: 10%" align=justify>with a copy (which shall not
constitute notice) to: </P>
<P style="MARGIN-LEFT: 10%" align=justify>Blake, Cassels &amp; Graydon LLP
<BR>595 Burrard Street, Suite 2600 <BR>P.O. Box 49314, Three Bentall Centre
<BR>Vancouver, BC V7X 1L3 </P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="50%" border=0>

  <TR vAlign=top>
    <TD width="20%" >&nbsp;</TD>
    <TD align=left>Attention: </TD>
    <TD align=left width="60%">Trisha Robertson </TD></TR>
  <TR vAlign=top>
    <TD width="20%">&nbsp;</TD>
    <TD align=left>Facsimile: </TD>
    <TD align=left width="60%">604-631-3309 </TD></TR>
  <TR vAlign=top>
    <TD width="20%">&nbsp;</TD>
    <TD align=left>Email: </TD>
    <TD align=left width="60%">trisha.robertson@blakes.com
</TD></TR></TABLE></DIV><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>if to the Securityholder:</P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 10%" align=justify>Electrum Strategic Acquisitions LLC
<BR>c/o The Electrum Group LLC <BR>535 Madison Avenue, 11<SUP>th</SUP> Floor
<BR>New York, NY 10022 </P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="50%" border=0>

  <TR vAlign=top>
    <TD width="20%"  >&nbsp;</TD>
    <TD align=left >Attention: </TD>
    <TD align=left width="60%">Andrew M. Shapiro, Esq. </TD></TR>
  <TR vAlign=top>
    <TD width="20%" >&nbsp;</TD>
    <TD align=left >Facsimile: </TD>
    <TD align=left width="60%">(646) 365-1601 </TD></TR>
  <TR vAlign=top>
    <TD width="20%" >&nbsp;</TD>
    <TD align=left >Email: </TD>
    <TD align=left width="60%">ashapiro@electrum-group.com
</TD></TR></TABLE></DIV>
<P align=justify>Any Notice delivered or transmitted to a Party as provided
above shall be deemed to have been given and received on the day it is delivered
or transmitted, provided that it is delivered or transmitted on a Business Day
prior to 5:00 p.m. local time in the place of delivery or receipt. If the Notice
is delivered or transmitted after 5:00 p.m. local time or if the day is not a
Business Day, then the Notice shall be deemed to have been given and received on
the next Business Day. </P>
<P align=justify>Either Party may, from time to time, change its address by
giving Notice to the other Party in accordance with the provisions of this
Section 4.7. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.8</B> </TD>
    <TD>
      <P align=justify><B>Severability</B></P></TD></TR></TABLE>
<P align=justify>If any term or other provision of this Agreement is invalid,
illegal or incapable of being enforced by any rule or Law or public policy, all
other conditions and provisions of this Agreement shall nevertheless remain in
full force and effect so long as the economic or legal substance of the
transactions contemplated hereby is not affected in any manner materially
adverse to any Party. Upon such determination that any term or other provision
is invalid, illegal or incapable of being enforced, the Parties shall negotiate
in good faith to modify this Agreement so as to effect the original intent of
the Parties as closely as possible in an acceptable manner to the end that the
transactions contemplated hereby are fulfilled to the fullest extent possible.
</P>
<P align=right>11 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.9</B> </TD>
    <TD>
      <P align=justify><B>Successors and Assigns</B></P></TD></TR></TABLE>
<P align=justify>The provisions of this Agreement shall be binding upon and
enure to the benefit of the Parties and their respective successors, permitted
assigns and personal representatives, provided that no Party may assign,
delegate or otherwise transfer any of its rights, interests or obligations under
this Agreement without the prior written consent of the other Party hereto,
except that the Purchaser may assign, delegate or otherwise transfer any of its
rights, interests or obligations under this Agreement to any of its affiliates
without reducing its own obligations hereunder without the consent of the
Securityholder. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.10</B> </TD>
    <TD>
      <P align=justify><B>Expenses</B></P></TD></TR></TABLE>
<P align=justify>Each Party shall pay all costs and expenses (including the fees
and disbursements of legal counsel and other advisers) it incurs in connection
with the negotiation, preparation and execution of this Agreement and the
transactions contemplated by this Agreement. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.11</B> </TD>
    <TD>
      <P align=justify><B>Independent Legal Advice</B></P></TD></TR></TABLE>
<P align=justify>Each of the Parties hereby acknowledges that it has been
afforded the opportunity to obtain independent legal advice and confirms by the
execution of this Agreement that it has either done so or waived its right to do
so in connection with the entering into of this Agreement. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.12</B> </TD>
    <TD>
      <P align=justify><B>Further Assurances</B></P></TD></TR></TABLE>
<P align=justify>The Parties shall, with reasonable diligence, do all things and
provide all such reasonable assurances as may be required to consummate the
transactions contemplated by this Agreement, and each Party shall provide such
further documents or instruments required by the other Party as may be
reasonably necessary or desirable to effect the purpose of this Agreement and
carry out its provisions, whether before or after the Effective Time. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.13</B> </TD>
    <TD>
      <P align=justify><B>Rules of Construction</B></P></TD></TR></TABLE>
<P align=justify>The Parties have participated jointly in negotiating and
drafting this Agreement. If an ambiguity or a question of intent or
interpretation arises, this Agreement shall be construed as if drafted jointly
by the Parties, and no presumption or burden of proof shall arise favouring or
disfavouring any Party by virtue of the authorship of any provision of this
Agreement. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.14</B> </TD>
    <TD>
      <P align=justify><B>No Third Party
Beneficiaries</B></P></TD></TR></TABLE>
<P align=justify>The Parties hereby agree that their respective representations,
warranties, covenants and agreements set forth herein are solely for the benefit
of the other Party hereto, in accordance with and subject to the terms of this
Agreement, and this Agreement is not intended to, and does not, confer upon any
Person other than the parties hereto any rights or remedies hereunder, including
the right to rely upon the representations and warranties set forth herein. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.15</B> </TD>
    <TD>
      <P align=justify><B>Execution and Delivery</B></P></TD></TR></TABLE>
<P align=justify>This Agreement may be executed by the Parties in counterparts
and may be executed and delivered by facsimile and all the counterparts and
facsimiles together constitute one and the same agreement. </P>
<P align=right>12 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.16</B> </TD>
    <TD>
      <P align=justify><B>Covenant of the Purchaser</B></P></TD></TR></TABLE>
<P align=justify>The Purchaser hereby covenants and agrees to make this
Agreement publicly available, including by filing this Agreement on SEDAR.</P>
<P align=center>[<I>Remainder of page intentionally left blank</I>]<B> </B></P>
<P align=right>13 </P>
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<P align=justify><B>IN WITNESS WHEREOF</B> the Parties have executed this
Agreement. </P>
<P style="MARGIN-LEFT: 50%" align=justify><B>ELECTRUM STRATEGIC ACQUISITIONS LLC
</B></P>
<DIV align=right>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="50%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="90%"><I>/s/
      Eric N. Vincent</I> </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="90%">&nbsp;&nbsp; Name: Eric N. Vincent </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="90%">&nbsp;&nbsp; Title: Officer
</TD></TR></TABLE></DIV>
<P align=left style="margin-left: 50%"><B>NOVACOPPER INC. </B></P>
<DIV align=right>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="50%" border=0>

  <TR vAlign=top>
    <TD align=left>By: </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="90%"><I>/s/
      Elaine Sanders</I> </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="90%">&nbsp; &nbsp;Name: Elaine Sanders </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="90%">&nbsp; &nbsp;Title: VP and Chief Financial
      Officer </TD></TR></TABLE></DIV>
<P align=right>14 </P>
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<P align=right>EXECUTION COPY </P>
<P align=center><B>SCHEDULE</B><B> &#147;A&#148; </B></P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="100%" border=1>

  <TR vAlign=top>
    <TD noWrap align=center><B>Registered Owner</B> </TD>
    <TD noWrap align=center width="20%"><B>Beneficial Owner</B> </TD>
    <TD noWrap align=center width="20%"><B>Sunward Options</B> </TD>
    <TD noWrap align=center width="20%"><B>Sunward DSUs</B> </TD>
    <TD noWrap align=center width="20%">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp;<B>Sunward Shares</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>Electrum Strategic Acquisitions LLC </TD>
    <TD align=left width="20%">&nbsp; </TD>
    <TD align=left width="20%">&nbsp; </TD>
    <TD align=left width="20%">&nbsp; </TD>
    <TD align=left width="20%">25,950,000 </TD></TR>
  <TR vAlign=top>
    <TD align=left></TD>
    <TD align=left width="20%">&nbsp; </TD>
    <TD align=left width="20%">&nbsp; </TD>
    <TD align=left width="20%">&nbsp; </TD>
    <TD align=left width="20%">&nbsp; </TD></TR></TABLE>
</DIV><BR>
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</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>5
<FILENAME>exhibit10-3.htm
<DESCRIPTION>EXHIBIT 10.3
<TEXT>
<HTML>
<HEAD>
   <TITLE>NovaCopper Inc.: Exhibit 10.3 - Filed by newsfilecorp.com</TITLE>
   <META name="HandheldFriendly" content="true">
</HEAD>

<BODY style="font-size:10pt;">

<HR noshade align="center" width=100% size=3 color="black">
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<P align=right>EXECUTION COPY </P>
<P align=center><B>VOTING SUPPORT AGREEMENT </B></P>
<P style="MARGIN-LEFT: 5%" align=justify><B>THIS AGREEMENT</B> is made as of
April 22, 2015 </P>
<P align=justify><B>BETWEEN: </B></P>
<P style="MARGIN-LEFT: 10%" align=justify><B>NOVACOPPER INC.</B>, a corporation
existing under the laws of the Province of British Columbia (the
&#147;<B>Purchaser</B>&#148;) </P>
<P align=center>- and - </P>
<P style="MARGIN-LEFT: 10%" align=justify>Electrum Strategic Acquisitions II
LLC, a limited liability company organized and existing under the laws of the
State of Delaware (the &#147;<B>Securityholder</B>&#148;) </P>
<P align=justify><B>RECITALS: </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">1. </TD>
    <TD>
      <P align=justify>The Securityholder is the beneficial owner of, or has
      control or direction over, the Subject Securities.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">2. </TD>
    <TD>
      <P align=justify>The Securityholder understands that Sunward Resources
      Ltd. (&#147;<B>Sunward</B>&#148;) and the Purchaser are, concurrently with the
      execution and delivery of this Agreement, executing and delivering the
      Arrangement Agreement.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">3. </TD>
    <TD>
      <P align=justify>This Agreement sets out the terms and conditions of the
      agreement of the Securityholder to abide by the covenants in respect of
      the Subject Securities and the other restrictions and covenants set forth
      herein.</P></TD></TR></TABLE>
<P style="text-indent:5%" align=justify><B >NOW THEREFORE</B>, in consideration of the mutual covenants
in this Agreement and for other good and valuable consideration (the receipt and
sufficiency of which are hereby acknowledged) the parties hereto agree as
follows: </P>
<P align=center><B>ARTICLE 1 </B><BR><B>INTERPRETATION </B><BR></P>
<P align=justify><B>1.1</B><B> </B><B>Definitions </B></P>
<P align=justify>Capitalized terms used herein and not otherwise defined have
the meanings ascribed thereto in the Arrangement Agreement. In this Agreement,
including the recitals: </P>
<P align=justify>&#147;<B>affiliate</B>&#148; has the meaning ascribed thereto in the
Securities Act; </P>
<P align=justify>&#147;<B>Arrangement Agreement</B>&#148; means the arrangement agreement,
dated as of the date hereof, between Sunward and the Purchaser; </P>
<P align=justify>&#147;<B>Business Day</B>&#148; means any day, other than a Saturday, a
Sunday or a statutory or civic holiday in Toronto, Ontario or Vancouver, British
Columbia; </P>
<P align=justify>&#147;<B>Contract</B>&#148; means any contract, agreement, license,
franchise, lease, arrangement, commitment, understanding, joint venture,
partnership or other right or obligation (written or oral) to which a Party or
any of its subsidiaries (if applicable) is a party or by which it or any of its
subsidiaries (if applicable) is bound or affected or to which any of their
respective properties or assets is subject; </P>
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<P align=justify>&#147;<B>Expiry Time</B>&#148; has the meaning ascribed thereto in
Section 3.1(a); </P>
<P align=justify>&#147;<B>Governmental Entity</B>&#148; means: (a) any multinational,
national, federal, provincial, territorial, state, regional, municipal, local or
other government, governmental or public department, central bank, court,
tribunal, arbitral body, commission, board, bureau, ministry, agency or entity,
domestic or foreign; (b) any stock exchange, including the TSX or the NYSE MKT;
(c) any subdivision, agent, commission, board or authority of any of the
foregoing; or (d) any quasigovernmental or private body, including any tribunal,
commission, regulatory agency or self-regulatory organization, exercising any
regulatory, expropriation or taxing authority under or for the account of any of
the foregoing; (e) any corporation or other body that is wholly or partially
owned (20% or greater) or controlled by any of the above; or (f) any public
international organization; </P>
<P align=justify>&#147;<B>Law</B>&#148; or &#147;<B>Laws</B>&#148; means all laws (including common
law), by-laws, statutes, rules, regulations, principles of law and equity,
orders, rulings, ordinances, judgments, injunctions, determinations, awards,
decrees or other requirements, whether domestic or foreign, and the terms and
conditions of any Permit of or from any Governmental Entity or self-regulatory
authority (including the TSX and the NYSE MKT), and the term &#147;<B>applicable</B>&#148;
with respect to such Laws and in a context that refers to a Party, means such
Laws as are applicable to such Party and/or its subsidiaries or their business,
undertaking, property or securities and emanate from a Person having
jurisdiction over the Party and/or its subsidiaries or its or their business,
undertaking, property or securities; </P>
<P align=justify>&#147;<B>Notice</B>&#148; has the meaning ascribed thereto in Section
4.7; </P>
<P align=justify>&#147;<B>Parties</B>&#148; means NovaCopper Inc. and the Securityholder,
and &#147;<B>Party</B>&#148; means any of them; </P>
<P align=justify>&#147;<B>Person</B>&#148; includes an individual, partnership,
association, body corporate, trustee, executor, administrator, legal
representative, government (including any Governmental Entity) or any other
entity, whether or not having legal status; </P>
<P align=justify>&#147;<B>Securities Act</B>&#148; means the <I>Securities Act</I>
(British Columbia) and the rules, regulations and published policies made
thereunder, as now in effect and as they may be promulgated or amended from time
to time; </P>
<P align=justify>&#147;<B>Subject Securities</B>&#148; means the Subject Shares and any
securities exercisable or exchangeable for, or convertible into, Subject Shares
(including Sunward Options and Sunward DSUs) beneficially owned, directly or
indirectly, or controlled or directed, by the Securityholder; </P>
<P align=justify>&#147;<B>Subject Shares</B>&#148; means all Sunward Shares beneficially
owned, directly or indirectly, or controlled or directed, by the Securityholder,
which, for greater certainty, shall include any Sunward Shares issuable upon the
exercise, exchange, vesting or conversion of any security (including Sunward
Options and Sunward DSUs) beneficially owned, directly or indirectly, or
controlled or directed by the Securityholder which may be exercised, converted
into or exchanged for Sunward Shares and shall also include any and all
distributions of securities made in respect of such Subject Shares on or after
the date hereof, and shall further include any Sunward Shares the direct or
indirect beneficial ownership of which, or control or direction over which, is
acquired after the date hereof by the Securityholder; and </P>
<P align=justify>&#147;<B>Transfer</B>&#148; has the meaning ascribed thereto in Section
3.1(a) . </P>
<P align=right>2</P>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>1.2</B> </TD>
    <TD>
      <P align=justify><B>Singular; Plural, etc.</B></P></TD></TR></TABLE>
<P align=justify>In this Agreement, words importing the singular number include
the plural and vice versa and words importing gender include the masculine,
feminine and neuter genders. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>1.3</B> </TD>
    <TD>
      <P align=justify><B>Headings, etc.</B></P></TD></TR></TABLE>
<P align=justify>The division of this Agreement into Articles, Sections and
Schedules and the insertion of the recitals and headings are for convenience of
reference only and shall not affect the construction or interpretation of this
Agreement and, unless otherwise stated, all references in this Agreement or in
the Schedules hereto to Articles, Sections and Schedules refer to Articles,
Sections and Schedules of and to this Agreement or of the Schedules in which
such reference is made, as applicable. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>1.4</B> </TD>
    <TD>
      <P align=justify><B>Date for any Action</B></P></TD></TR></TABLE>
<P align=justify>In the event that any date on which any action is required to
be taken hereunder by any of the Parties is not a Business Day, such action
shall be required to be taken on the next succeeding day which is a Business
Day. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>1.5</B> </TD>
    <TD>
      <P align=justify><B>Governing Law</B></P></TD></TR></TABLE>
<P align=justify>This Agreement shall be governed, including as to validity,
interpretation and effect, by the Laws of the Province of British Columbia and
the Laws of Canada applicable therein. Each of the Parties hereby irrevocably
attorns to the jurisdiction of the Courts of the Province of British Columbia in
respect of all matters arising under and in relation to this Agreement. The
Parties hereto agree that in any legal proceeding there shall not be any
adjudication by jury and no awards shall be sought or awarded for special,
consequential or punitive damages or lost profits.</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>1.6</B> </TD>
    <TD>
      <P align=justify><B>Incorporation of Schedules</B></P></TD></TR></TABLE>
<P align=justify>The Schedules attached hereto and described below shall, for
all purposes hereof, form an integral part of this Agreement: </P>
<P style="MARGIN-LEFT: 5%" align=justify>Schedule A &#150; Subject Securities</P>
<P align=center><B>ARTICLE 2 </B><BR><B>REPRESENTATIONS AND WARRANTIES </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>2.1</B> </TD>
    <TD>
      <P align=justify><B>Representations and Warranties of the
      Securityholder</B></P></TD></TR></TABLE>
<P align=justify>The Securityholder represents and warrants to the Purchaser
(and understands and acknowledges that Purchaser is relying on these
representations and warranties in entering into the Arrangement Agreement and
completing the transactions contemplated hereby and by the Arrangement
Agreement) the matters out below: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>if an individual, the Securityholder has the legal
      capacity to execute and deliver this Agreement and to consummate the
      transactions contemplated by this Agreement; if a Person other than an
      individual, the Securityholder is validly existing under the laws of its
      governing jurisdiction, has all necessary power and authority to enter
      into this Agreement and has taken all steps necessary to authorize the
      execution of this Agreement and the performance of its obligations under
      this Agreement. This Agreement has been duly executed and delivered by the Securityholder and
constitutes a legal, valid and binding obligation of the Securityholder,
enforceable against the Securityholder in accordance with its terms; </P></TD></TR></TABLE>
<P align=right>3<BR></P>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>the securities set forth in Schedule A represent all the
      Subject Securities beneficially owned, directly or indirectly, or
      controlled or directed, by the Securityholder as of the date hereof. Other
      than the securities set forth in Schedule A, neither the Securityholder
      nor any of his, her or its affiliates beneficially owns, directly or
      indirectly, or exercises control or direction over, or has any agreement
      or option, or right or privilege (whether by Law, pre-emptive or
      contractual) capable of becoming an agreement or option, for the purchase
      or acquisition by the Securityholder or any of his, her or its affiliates
      or transfer to the Securityholder or any of his, her or its affiliates of
      any additional securities of Sunward or any of its affiliates;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>the Securityholder is, and will continue to be from the
      date hereof (or in the case of any Subject Securities acquired after the
      date hereof, from the date of each such acquisition) through to the Expiry
      Time, the sole beneficial owner of the Subject Securities, with good and
      marketable title thereto, free and clear of all Liens (other than (i) any
      restrictions on transfer imposed by applicable Securities Laws and (ii) as
      provided under this Agreement);</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>the Securityholder has the sole right to dispose of and
      vote (to the extent permitted by the attributes of such Subject Securities
      or pursuant to applicable Laws, regulation or policy), or direct the
      disposal and voting of, the Subject Securities;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(e) </TD>
    <TD>
      <P align=justify>no Person has any agreement or option, or any right or
      privilege (whether by Laws, pre- emptive or contractual) capable of
      becoming an agreement or option, providing for the purchase, acquisition
      or transfer of any of the Subject Securities or any interest therein or
      right thereto, except the Purchaser pursuant to the Arrangement
      Agreement;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(f) </TD>
    <TD>
      <P align=justify>none of the Subject Securities is subject to any proxy,
      voting trust, vote pooling or other agreement with respect to the right to
      vote, call meetings of any of Sunward&#146;s securityholders or give consents
      or approvals of any kind other than approvals which have been
    obtained;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(g) </TD>
    <TD>
      <P align=justify>none of the execution and delivery by the Securityholder
      of this Agreement or the completion of the transactions contemplated
      hereby or the compliance by the Securityholder with the Securityholder&#146;s
      obligations hereunder will violate, contravene, result in any breach of,
      or be in conflict with, or constitute a default under, or create a state
      of facts which after notice or lapse of time or both would constitute a
      default under, any term or provision of: (i) if the Securityholder is not
      an individual, any constating or governing documents or resolutions of the
      Securityholder; (ii) any Contract to which the Securityholder is a party
      or by which the Securityholder or any of the property or assets of the
      Securityholder are bound; (iii) any judgment, decree, order or award of
      any Governmental Entity; or (iv) any applicable Laws;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(h) </TD>
    <TD>
      <P align=justify>no consent, waiver, approval, authorization, order,
      exemption, registration, license or declaration of or by, or filing with,
      or notification to any Governmental Entity or other third party which has
      not been made or obtained is required to be made or obtained by the
      Securityholder or any of his, her or its affiliates in connection with the
      execution and delivery by the Securityholder and enforcement against the
      Securityholder of this Agreement or the consummation of any transactions provided for
herein (provided that the Securityholder makes no representations or warranties
with respect to the consents, waivers, approvals, authorizations or declarations
of or by, or filings with, or notices to any Governmental Entities or other
third parties on the part of Sunward or the Purchaser necessary for the
consummation of the transactions contemplated by the Arrangement Agreement);</P></TD></TR></TABLE>
<P align=right>4 </P>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>there is no private or governmental action, suit, claim,
      arbitration or other proceeding in progress or, to the knowledge of the
      Securityholder, pending before any Governmental Entity, or, to the
      knowledge of the Securityholder, threatened against the Securityholder or
      any of his, her or its affiliates or, if applicable, to the knowledge of
      the Securityholder any of their respective directors or officers (in their
      capacities as such) that, individually or in the aggregate, could
      adversely affect the Securityholder&#146;s ability to enter into this Agreement
      or perform his, her or its obligations hereunder or the title of the
      Securityholder to any of the Subject Securities. There is no judgment,
      decree or order against the Securityholder or any of his, her or its
      affiliates or, if applicable, any of their directors or officers (in their
      capacities as such) that would reasonably be expected to prevent, enjoin,
      alter, delay or adversely affect the ability of the Securityholder to
      enter into this Agreement, to perform his, her or its obligations under
      this Agreement or the title of the Securityholder to any of the Subject
      Securities;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(j) </TD>
    <TD>
      <P align=justify>the Securityholder is a sophisticated investor with
      respect to the Subject Securities and has independently and without
      reliance upon the Purchaser and based on such information as the
      Securityholder has deemed appropriate, made his, her or its own analysis
      and decision to enter into this Agreement. The Securityholder has received
      a copy of the Arrangement Agreement and has had an opportunity to review
      the Arrangement Agreement with his, her or its legal counsel. As of the
      date hereof, the Securityholder has full knowledge of and access to
      information concerning Sunward and the Sunward Shares. The Securityholder
      acknowledges that, unless and until this Agreement is terminated in
      accordance with its terms, the agreements contained herein with respect to
      the Subject Securities by the Securityholder are irrevocable;
and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(k) </TD>
    <TD>
      <P align=justify>the Securityholder (i) is not the beneficial owner of,
      and does not have control or direction over, any securities of the
      Purchaser or any of its subsidiaries; or (ii) is party to a voting
      agreement with Sunward, substantially in the form of this Agreement,
      pursuant to which the Securityholder has agreed, among other things, to
      vote his, her or its NovaCopper Shares in favour of the issuance of the
      Consideration Shares and reservation for issuance of the Option Shares in
      connection with the Arrangement.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>2.2</B> </TD>
    <TD>
      <P align=justify><B>Representations and Warranties of the
    Purchaser</B></P></TD></TR></TABLE>
<P align=justify>The Purchaser represents and warrants to the Securityholder
(and acknowledges that the Securityholder is relying on these representations
and warranties in completing the transactions contemplated hereby) the matters
set out below: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>the Purchaser is a corporation duly incorporated and
      validly existing under the laws of the Province of British Columbia and
      has all necessary corporate power, authority and capacity to enter into
      this Agreement and the Arrangement Agreement and to carry out its
      obligations under this Agreement and the Arrangement Agreement. The
      execution and delivery of this Agreement and the Arrangement Agreement and
      the consummation of the transactions contemplated by this Agreement and
      the Arrangement Agreement have been duly authorized by all necessary corporate action on
the part of the Purchaser. Each of this Agreement and the Arrangement Agreement
has been duly executed and delivered by the Purchaser and constitutes a legal,
valid and binding obligation of the Purchaser, enforceable against the Purchaser
in accordance with its terms; </P></TD></TR></TABLE>
<P align=right>5 </P>
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<TABLE
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  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>except as would not materially hinder, delay or impede
      the consummation of the transaction contemplated by this Agreement and the
      Arrangement Agreement, none of the execution and delivery by the Purchaser
      of this Agreement or the completion of the transactions contemplated
      hereby or the compliance by the Purchaser with the Purchaser&#146;s obligations
      hereunder will violate, contravene, result in any breach of, or be in
      conflict with, or constitute a default under, or create a state of facts
      which after notice or lapse of time or both would constitute a default
      under, any term or provision of: (i) any constating or governing documents
      or resolutions of the Purchaser; (ii) any Contract to which the Purchaser
      is a party or by which the Purchaser or any of the property or assets of
      the Purchaser are bound; (iii) any judgment, decree, order or award of any
      Governmental Entity; or (iv) any applicable Laws;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>other than as set forth in the Arrangement Agreement, no
      consent, waiver, approval, authorization, order, exemption, registration,
      license or declaration of or by, or filing with, or notification to any
      Governmental Entity or other third party which has not been made or
      obtained is required to be made or obtained by the Purchaser or any of its
      affiliates in connection with the execution and delivery by the Purchaser
      and enforcement against the Purchaser of this Agreement or the Arrangement
      Agreement or the consummation of any transactions provided for herein or
      therein (provided that the Purchaser makes no representations or
      warranties with respect to the consents, waivers, approvals,
      authorizations or declarations of or by, or filings with, or notices to
      any Governmental Entities or other third parties on the part of Sunward or
      the Securityholder necessary for the consummation of the transactions
      contemplated herein or by the Arrangement Agreement); and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>there is no private or governmental action, suit, claim,
      arbitration, investigation or other proceeding in progress or pending
      before any Governmental Entity, or, to the knowledge of the Purchaser,
      threatened against the Purchaser or any of its affiliates or any of their
      respective directors or officers (in their capacities as such) that,
      individually or in the aggregate, could impair the Purchaser&#146;s ability to
      enter into this Agreement or perform its obligations under this Agreement.
      There is no judgment, decree or order against the Purchaser or any of its
      affiliates or any of their directors or officers (in their capacities as
      such) that could prevent, enjoin, alter, delay or adversely affect the
      ability of the Purchaser to enter into this Agreement or to perform its
      obligations under this Agreement.</P></TD></TR></TABLE>
<P align=center><B>ARTICLE 3 </B><BR><B>COVENANTS </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>3.1</B> </TD>
    <TD>
      <P align=justify><B>Covenants of the
Securityholder</B></P></TD></TR></TABLE>
<P align=justify>The Securityholder hereby irrevocably covenants and agrees as
follows: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>from the date of this Agreement until the termination of
      this Agreement in accordance with its terms (the &#147;<B>Expiry Time</B>&#148;),
      the Securityholder shall not (A) sell, transfer, gift, assign, convey,
      pledge, hypothecate, encumber, grant any option with respect to, grant
      a security interest in or otherwise dispose of any right or
interest in (including by way of deposit or tender under any take-over bid) (any
such event, a &#147;<b>Transfer</b>&#148;) any of the Subject Securities, other than the
exercise, exchange, vesting or conversion of Sunward Options or Sunward DSUs in
accordance with their terms for Sunward Shares, which Sunward Shares will become
Subject Securities hereunder, or enter into any agreement, arrangement or
understanding in connection therewith (whether by actual disposition or
effective economic disposition due to cash settlement or otherwise), other than
pursuant to the Arrangement, without having first obtained the prior written
consent of the Purchaser, or (B) other than as set forth herein, grant any
proxies or powers of attorney with respect to any Subject Securities, deposit
any Subject Securities into a voting trust, in any way transfer any of the
voting rights associated with any of the Subject Securities, or enter into a
voting agreement, understanding or arrangement with respect to the right to
vote, call meetings of Sunward Shareholders or give consents or approvals of any
kind with respect to any Subject Securities. In furtherance of this Agreement,
the Securityholder hereby authorizes the Purchaser, Sunward or their respective
legal counsel to notify Sunward&#146;s transfer agent that there is a stop transfer
order with respect to all of the Subject Securities (and that this Agreement
places limits on the voting and transfer of such Subject Securities, as
applicable), provided that if any such action involves costs to the
Securityholder, those costs shall be paid or reimbursed by the Purchaser. The
Parties agree that such stop transfer order shall be removed and shall be of no
further force and effect upon the termination of this Agreement in accordance
with Section 4.1; </P></TD></TR></TABLE>
<P align=right>6 </P>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>from time to time, until the Expiry Time, to vote (or
      cause to be voted) all the Subject Shares at any meeting of any of the
      securityholders of Sunward at which the Securityholder is entitled to
      vote, including without limitation the Sunward Meeting, and in any action
      by written consent of the securityholders of
Sunward:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>in favour of the approval, consent, ratification and
      adoption of the Arrangement Resolution and the transactions contemplated
      by the Arrangement Agreement (and any actions required for the
      consummation of the transactions contemplated by the Arrangement
      Agreement); and</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>other than the Arrangement, against (A) any extraordinary
      corporate transaction, including any merger, reorganization,
      consolidation, amalgamation, arrangement, business combination, share
      exchange, liquidation, dissolution, recapitalization, or similar
      transaction involving Sunward or any of its subsidiaries; (B) any sale,
      lease or transfer of any significant part of the assets of Sunward or any
      of its subsidiaries; (C) any Acquisition Proposal involving Sunward or any
      of its subsidiaries; (D) any material change in the capitalization of
      Sunward or any of its subsidiaries or the corporate structure or
      constating documents of Sunward or any of its subsidiaries; (E) any action
      that would reasonably be expected to impede, delay, interfere with, or
      discourage the transactions contemplated by the Arrangement Agreement; and
      (F) any action or agreement that would result in a breach of any covenant,
      representation or warranty or any other obligation or agreement of Sunward
      under the Arrangement Agreement;</P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 10%" align=justify>in connection with the foregoing,
subject to this Section 3.1(b), the Securityholder shall deposit an irrevocable
proxy, duly completed and executed in respect of all of the Subject Shares at
least five (5) Business Days prior to the Sunward Meeting, voting all such
Subject Shares in favour of the Arrangement Resolution and otherwise in the
manner described in this Section 3.1(b) . Neither the Securityholder nor any
Person acting on his, 7 her or its behalf will take any action to withdraw, amend or
invalidate any proxy deposited by the Securityholder pursuant to this Agreement,
notwithstanding any statutory or other rights which the Securityholder might
have unless this Agreement is terminated in accordance with Section 4.1; </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<TABLE
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  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>until the Expiry Time, to not, without the prior written
      consent of the Purchaser, requisition or join in the requisition of any
      meeting of any of the securityholders of Sunward for the purpose of
      considering any resolution;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>from time to time, until the Expiry Time, when any
      meeting of Sunward securityholders is held, to appear in person or by
      proxy at such meeting or otherwise cause the applicable Subject Securities
      to be counted as present thereat for the purpose of establishing a
      quorum;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(e) </TD>
    <TD>
      <P align=justify>until the Expiry Time, neither the Securityholder nor any
      of his, her or its Representatives will, directly or indirectly: (A)
      solicit, initiate, encourage or otherwise facilitate (including by way of
      entering into any agreement, arrangement or understanding) inquiries,
      submissions of proposals or offers from, or provide information to, any
      other Person, entity or group (other than the Purchaser) relating to any
      Acquisition Proposal or potential Acquisition Proposal, (B) participate in
      any discussions or negotiations regarding any Acquisition Proposal, or (C)
      accept, enter into or endorse, or publicly propose to accept or enter
      into, any letter of intent, agreement, arrangement or understanding
      related to any Acquisition Proposal. Nothing in this Section 3.1(e) shall
      prevent any shareholder, director or officer of the Securityholder, if
      applicable, who is also a director or officer of Sunward from fulfilling
      his or her fiduciary obligations, provided that such act or thing is
      permitted by and is done in strict compliance with the terms of the
      Arrangement Agreement;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(f) </TD>
    <TD>
      <P align=justify>to immediately cease and cause to be terminated any and
      all solicitations, encouragements, existing discussions and negotiations,
      if any, with any Person or group or any agent or representative of such
      Person or group with respect to any Acquisition Proposal or potential
      Acquisition Proposal;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(g) </TD>
    <TD>
      <P align=justify>to waive any rights of appraisal or rights of dissent
      that the Securityholder may have arising from the transactions
      contemplated by the Arrangement Agreement;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(h) </TD>
    <TD>
      <P align=justify>until the Expiry Time, to not make any statements which
      may reasonably be construed as being against the transactions contemplated
      by the Arrangement Agreement or any aspect thereof and to not bring, or
      threaten to bring, any suit or proceeding for the purpose of, or which has
      the effect of, directly or indirectly, stopping, preventing, impeding,
      delaying or varying such transactions or any aspect thereof;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>to promptly notify the Purchaser of any acquisitions by
      the Securityholder or any of his, her or its affiliates of any securities
      of Sunward, if any, after the date hereof, which, for greater certainty,
      shall include any Sunward Options and Sunward DSUs and any Sunward Shares
      issuable upon the exercise, conversion or vesting, as applicable, of any
      Sunward Options or Sunward DSUs, owned or controlled by the Securityholder
      which may be exercised, converted into or exchanged for Sunward Shares.
      Any such securities shall be subject to the terms of this Agreement as
      though they were Subject Securities owned by the Securityholder on the
      date hereof;</P></TD></TR></TABLE>
<P align=right>8 </P>
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<TABLE
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  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(j) </TD>
    <TD>
      <P align=justify>until the Expiry Time, not to (i) exercise any
      securityholder rights or remedies available at common law or pursuant to
      applicable securities legislation; or (ii) take any other action of any
      kind, in each case which might reasonably be regarded as likely to reduce
      the success of, or delay or interfere with the completion of, the
      transactions contemplated by the Arrangement Agreement;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(k) </TD>
    <TD>
      <P align=justify>the Securityholder hereby irrevocably consents
  to:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>details of this Agreement being set out in any
      information circular and court documents produced by Sunward, the
      Purchaser or any of their respective affiliates in connection with the
      transactions contemplated by this Agreement and the Arrangement Agreement;
      and</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>this Agreement being made publicly available, including
      by filing on SEDAR; and</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(l) </TD>
    <TD>
      <P align=justify>except as required by applicable Law or applicable stock
      exchange requirements, not to make any public announcement or statement
      with respect to the transactions contemplated herein or pursuant to the
      Arrangement Agreement.</P></TD></TR></TABLE>
<P align=center><B>ARTICLE 4 </B><BR><B>GENERAL </B></P>
<TABLE
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cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.1</B> </TD>
    <TD>
      <P align=justify><B>Termination</B></P></TD></TR></TABLE>
<P align=justify>This Agreement shall terminate and be of no further force or
effect upon the earliest of:</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>the written agreement of the Purchaser and the
      Securityholder;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>written notice by the Securityholder if the Purchaser,
      without the prior written consent of the Securityholder, decreases the
      amount of Consideration as set out in the Arrangement Agreement (provided
      that a decrease in the market price of the Consideration Shares will not
      constitute a decrease in the amount of Consideration); or</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>without any further action by the
  Parties:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>upon the earliest of:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="15%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(A) </TD>
    <TD>
      <P align=justify>the termination of the Arrangement Agreement in
      accordance with its terms;</P></TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(B) </TD>
    <TD>
      <P align=justify>the occurrence of a Sunward Termination Fee Event;
    or</P></TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(C) </TD>
    <TD>
      <P align=justify>the occurrence of a NovaCopper Termination Fee
    Event;</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>upon the failure of the transactions contemplated in the
      Arrangement Agreement to have been completed without any amendment to a
      material term of the Arrangement Agreement or a waiver of any material
      misrepresentation, material breach of warranty, or material failure to
      satisfy a covenant or a condition in the Arrangement Agreement on or
      before August 31, 2015; or</P></TD></TR></TABLE>
<P align=right>9 </P>
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<TABLE
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  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD>
      <P align=justify>on the Effective Date.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.2</B> </TD>
    <TD>
      <P align=justify><B>Time of the Essence</B></P></TD></TR></TABLE>
<P align=justify>Time shall be of the essence in this Agreement. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.3</B> </TD>
    <TD>
      <P align=justify><B>Equitable Relief</B></P></TD></TR></TABLE>
<P align=justify>The Parties agree that irreparable harm will occur for which
money damages will not be an adequate remedy at Law in the event that any of the
provisions of this Agreement are not performed by the Securityholder or any of
its affiliates in accordance with their terms or are otherwise breached. It is
accordingly agreed that the Purchaser shall be entitled to seek an injunction or
injunctions and other equitable relief to prevent breaches or threatened
breaches of the provisions of this Agreement by the Securityholder or any of its
affiliates and shall be entitled to obtain specific performance by the
Securityholder or any of its affiliates of any such provisions. The
Securityholder hereby agrees not to seek the posting of any security bond or
other assurance in respect of such injunctive or other equitable relief. Such
remedies will not be the exclusive remedies for any breach of this Agreement and
will be in addition to all other remedies available at Law or equity. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.4</B> </TD>
    <TD>
      <P align=justify><B>Fiduciary Duties</B></P></TD></TR></TABLE>
<P align=justify>The Purchaser hereby agrees that the Securityholder is not
making any agreement or understanding herein in any capacity other than in his,
her or its capacity as securityholder of Sunward. Nothing herein shall in any
way limit any actions that the Securityholder may take that are, upon the advice
of counsel, necessary to discharge such Person&#146;s fiduciary duties as a director
of Sunward or as a director of the Purchaser.</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.5</B> </TD>
    <TD>
      <P align=justify><B>Waiver; Amendment</B></P></TD></TR></TABLE>
<P align=justify>Each Party agrees and confirms that any provision of this
Agreement may be amended or waived if, and only if, such amendment or waiver is
in writing and signed, in the case of an amendment, by the Securityholder and
the Purchaser or in the case of a waiver, by the Party against whom the waiver
is to be effective and no failure or delay by any Party in exercising any right,
power or privilege hereunder shall operate as a waiver thereof nor shall any
single or partial exercise thereof preclude any other or further exercise. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.6</B> </TD>
    <TD>
      <P align=justify><B>Entire Agreement</B></P></TD></TR></TABLE>
<P align=justify>This Agreement constitutes the entire agreement among the
Parties with respect to the subject matter hereof and supersedes all prior
agreements and understandings among the Parties with respect thereto. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.7</B> </TD>
    <TD>
      <P align=justify><B>Notices</B></P></TD></TR></TABLE>
<P align=justify>Any notice, consent, approval or other communication required
or permitted to be given in connection with this Agreement (in this Section
referred to as a &#147;<B>Notice</B>&#148;) shall be in writing and shall be sufficiently
given if delivered (whether in person, by courier service or other personal
method of delivery), or if transmitted by facsimile or e-mail: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>if to the Purchaser:</P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 10%" align=justify>NovaCopper Inc. <BR>Suite 1950 - 777
Dunsmuir Street <BR>Vancouver, BC V7Y 1K4 </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="50%" border=0>

  <TR vAlign=top>
    <TD width="20%" >&nbsp;</TD>
    <TD align=left>Attention: </TD>
    <TD align=left width="60%">Chief Executive Officer </TD></TR>
  <TR vAlign=top>
    <TD width="20%">&nbsp;</TD>
    <TD align=left>Facsimile: </TD>
    <TD align=left width="60%">604-638-8088 </TD></TR></TABLE>
<P align=right>10 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_11></A>&nbsp;
<P style="MARGIN-LEFT: 10%" align=justify>with a copy (which shall not
constitute notice) to: </P>
<P style="MARGIN-LEFT: 10%" align=justify>Blake, Cassels &amp; Graydon LLP
<BR>595 Burrard Street, Suite 2600 <BR>P.O. Box 49314, Three Bentall Centre
<BR>Vancouver, BC V7X 1L3 </P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="50%" border=0>

  <TR vAlign=top>
    <TD width="20%" >&nbsp;</TD>
    <TD align=left>Attention: </TD>
    <TD align=left width="60%">Trisha Robertson </TD></TR>
  <TR vAlign=top>
    <TD width="20%">&nbsp;</TD>
    <TD align=left>Facsimile: </TD>
    <TD align=left width="60%">604-631-3309 </TD></TR>
  <TR vAlign=top>
    <TD width="20%">&nbsp;</TD>
    <TD align=left>Email: </TD>
    <TD align=left width="60%">trisha.robertson@blakes.com
</TD></TR></TABLE></DIV>
<P align=justify>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">&nbsp;</TD>
    <TD>&nbsp;
      </TD></TR>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>if to the Securityholder: </P></TD></TR></TABLE></P>
<P style="MARGIN-LEFT: 10%" align=justify>Electrum Strategic Acquisitions II LLC
<BR>c/o The Electrum Group LLC <BR>535 Madison Avenue, 11<SUP>th</SUP> Floor
<BR>New York, NY 10022 </P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="50%" border=0>

  <TR vAlign=top>
    <TD width="20%"  >&nbsp;</TD>
    <TD align=left >Attention: </TD>
    <TD align=left width="60%">Andrew M. Shapiro, Esq. </TD></TR>
  <TR vAlign=top>
    <TD width="20%" >&nbsp;</TD>
    <TD align=left >Facsimile: </TD>
    <TD align=left width="60%">(646) 365-1601 </TD></TR>
  <TR vAlign=top>
    <TD width="20%" >&nbsp;</TD>
    <TD align=left >Email: </TD>
    <TD align=left width="60%">ashapiro@electrum-group.com
</TD></TR></TABLE></DIV>
<P align=justify>Any Notice delivered or transmitted to a Party as provided
above shall be deemed to have been given and received on the day it is delivered
or transmitted, provided that it is delivered or transmitted on a Business Day
prior to 5:00 p.m. local time in the place of delivery or receipt. If the Notice
is delivered or transmitted after 5:00 p.m. local time or if the day is not a
Business Day, then the Notice shall be deemed to have been given and received on
the next Business Day. </P>
<P align=justify>Either Party may, from time to time, change its address by
giving Notice to the other Party in accordance with the provisions of this
Section 4.7. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.8</B> </TD>
    <TD>
      <P align=justify><B>Severability</B></P></TD></TR></TABLE>
<P align=justify>If any term or other provision of this Agreement is invalid,
illegal or incapable of being enforced by any rule or Law or public policy, all
other conditions and provisions of this Agreement shall nevertheless remain in
full force and effect so long as the economic or legal substance of the
transactions contemplated hereby is not affected in any manner materially
adverse to any Party. Upon such determination that any term or other provision
is invalid, illegal or incapable of being enforced, the Parties shall negotiate
in good faith to modify this Agreement so as to effect the original intent of
the Parties as closely as possible in an acceptable manner to the end that the
transactions contemplated hereby are fulfilled to the fullest extent possible.
</P>
<P align=right>11 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_12></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.9</B> </TD>
    <TD>
      <P align=justify><B>Successors and Assigns</B></P></TD></TR></TABLE>
<P align=justify>The provisions of this Agreement shall be binding upon and
enure to the benefit of the Parties and their respective successors, permitted
assigns and personal representatives, provided that no Party may assign,
delegate or otherwise transfer any of its rights, interests or obligations under
this Agreement without the prior written consent of the other Party hereto,
except that the Purchaser may assign, delegate or otherwise transfer any of its
rights, interests or obligations under this Agreement to any of its affiliates
without reducing its own obligations hereunder without the consent of the
Securityholder. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.10</B> </TD>
    <TD>
      <P align=justify><B>Expenses</B></P></TD></TR></TABLE>
<P align=justify>Each Party shall pay all costs and expenses (including the fees
and disbursements of legal counsel and other advisers) it incurs in connection
with the negotiation, preparation and execution of this Agreement and the
transactions contemplated by this Agreement. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.11</B> </TD>
    <TD>
      <P align=justify><B>Independent Legal Advice</B></P></TD></TR></TABLE>
<P align=justify>Each of the Parties hereby acknowledges that it has been
afforded the opportunity to obtain independent legal advice and confirms by the
execution of this Agreement that it has either done so or waived its right to do
so in connection with the entering into of this Agreement. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.12</B> </TD>
    <TD>
      <P align=justify><B>Further Assurances</B></P></TD></TR></TABLE>
<P align=justify>The Parties shall, with reasonable diligence, do all things and
provide all such reasonable assurances as may be required to consummate the
transactions contemplated by this Agreement, and each Party shall provide such
further documents or instruments required by the other Party as may be
reasonably necessary or desirable to effect the purpose of this Agreement and
carry out its provisions, whether before or after the Effective Time. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.13</B> </TD>
    <TD>
      <P align=justify><B>Rules of Construction</B></P></TD></TR></TABLE>
<P align=justify>The Parties have participated jointly in negotiating and
drafting this Agreement. If an ambiguity or a question of intent or
interpretation arises, this Agreement shall be construed as if drafted jointly
by the Parties, and no presumption or burden of proof shall arise favouring or
disfavouring any Party by virtue of the authorship of any provision of this
Agreement. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.14</B> </TD>
    <TD>
      <P align=justify><B>No Third Party
Beneficiaries</B></P></TD></TR></TABLE>
<P align=justify>The Parties hereby agree that their respective representations,
warranties, covenants and agreements set forth herein are solely for the benefit
of the other Party hereto, in accordance with and subject to the terms of this
Agreement, and this Agreement is not intended to, and does not, confer upon any
Person other than the parties hereto any rights or remedies hereunder, including
the right to rely upon the representations and warranties set forth herein. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.15</B> </TD>
    <TD>
      <P align=justify><B>Execution and Delivery</B></P></TD></TR></TABLE>
<P align=justify>This Agreement may be executed by the Parties in counterparts
and may be executed and delivered by facsimile and all the counterparts and
facsimiles together constitute one and the same agreement. </P>
<P align=right>12 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.16</B> </TD>
    <TD>
      <P align=justify><B>Covenant of the Purchaser</B></P></TD></TR></TABLE>
<P align=justify>The Purchaser hereby covenants and agrees to make this
Agreement publicly available, including by filing this Agreement on SEDAR.</P>
<P align=center>[<I>Remainder of page intentionally left blank</I>]<B> </B></P>
<P align=right>13 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_14></A>
<P align=justify><B>IN WITNESS WHEREOF</B> the Parties have executed this
Agreement. </P>
<P style="MARGIN-LEFT: 50%" align=justify><B>ELECTRUM STRATEGIC ACQUISITIONS II
LLC </B></P>
<DIV align=right>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="50%" border=0>

  <TR vAlign=top>
    <TD align=left><B>By: The Electrum Group LLC, attorney in</B> <B>fact</B>
    </TD></TR>
  <TR>
    <TD>&nbsp; </TD></TR>
  <TR>
    <TD>&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid"
      align=left><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      /s/ Eric N. Vincent</I> </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp; &nbsp;Name: Eric N. Vincent </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp; &nbsp;Title: Officer </TD></TR></TABLE></DIV>
<P style="MARGIN-LEFT: 50%"><STRONG>NOVACOPPER INC.</STRONG> <BR></P>
<DIV align=right>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="50%" border=0>

  <TR vAlign=top>
    <TD align=left >By: </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="90%"><I>/s/
      Elaine Sanders</I> </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; </TD>
    <TD align=left width="90%">&nbsp; &nbsp;Name: Elaine Sanders </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; </TD>
    <TD align=left width="90%">&nbsp; &nbsp;Title: VP and Chief Financial
      Officer </TD></TR></TABLE></DIV>
<P align=right>14 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_15></A>
<P align=right>EXECUTION COPY </P>
<P align=center><B>SCHEDULE</B><B> &#147;A&#148; </B></P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="100%" border=1>

  <TR vAlign=top>
    <TD noWrap align=center><B>Registered Owner</B> </TD>
    <TD noWrap align=center width="20%"><B>Beneficial Owner</B> </TD>
    <TD noWrap align=center width="20%"><B>Sunward Options</B> </TD>
    <TD noWrap align=center width="20%"><B>Sunward DSUs</B> </TD>
    <TD noWrap align=center width="20%"><B>Sunward Shares</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>Electrum Strategic Acquisitions II LLC </TD>
    <TD align=left width="20%">&nbsp; </TD>
    <TD align=left width="20%">&nbsp; </TD>
    <TD align=left width="20%">&nbsp; </TD>
    <TD align=left width="20%">225,000 </TD></TR>
  <TR vAlign=top>
    <TD align=left></TD>
    <TD align=left width="20%">&nbsp; </TD>
    <TD align=left width="20%">&nbsp; </TD>
    <TD align=left width="20%">&nbsp; </TD>
    <TD align=left width="20%">&nbsp; </TD></TR></TABLE></DIV><BR>
<HR align=center width="100%" color=black noShade SIZE=5>

</BODY>

</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>6
<FILENAME>exhibit10-4.htm
<DESCRIPTION>EXHIBIT 10.4
<TEXT>
<HTML>
<HEAD>
   <TITLE>NovaCopper Inc.: Exhibit 10.4 - Filed by newsfilecorp.com</TITLE>
   <META name="HandheldFriendly" content="true">
</HEAD>

<BODY style="font-size:10pt;">

<HR noshade align="center" width=100% size=3 color="black">
<!--$$/page=--><A name=page_1></A>
<P align=center><B>VOTING SUPPORT AGREEMENT </B></P>
<P style="MARGIN-LEFT: 5%" align=justify><B>THIS VOTING SUPPORT AGREEMENT</B>
(this &#147;<B>Agreement</B>&#148;) is made as of April 22, 2015 </P>
<P align=justify><B>BETWEEN: </B></P>
<P style="MARGIN-LEFT: 10%" align=justify><B>NOVACOPPER INC.</B>, a corporation
existing under the laws of the Province of British Columbia (the
&#147;<B>Purchaser</B>&#148;) </P>
<P align=center>- and - </P>
<P style="MARGIN-LEFT: 10%" align=justify><B>BAUPOST GROUP SECURITIES,
L.L.C.</B>, a Massachusetts limited liability company (the
&#147;<B>Securityholder</B>&#148;) </P>
<P align=justify><B>RECITALS: </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">1. </TD>
    <TD>
      <P align=justify>The Securityholder is the beneficial owner of, or has
      control or direction over, the Subject Securities.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">2. </TD>
    <TD>
      <P align=justify>The Securityholder understands that Sunward Resources
      Ltd. (&#147;<B>Sunward</B>&#148;) and the Purchaser are, concurrently with the
      execution and delivery of this Agreement, executing and delivering the
      Arrangement Agreement.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">3. </TD>
    <TD>
      <P align=justify>This Agreement sets out the terms and conditions of the
      agreement of the Securityholder to abide by the covenants in respect of
      the Subject Securities and the other restrictions and covenants set forth
      herein.</P></TD></TR></TABLE>
<P align=justify style="text-indent:5%"><B>NOW THEREFORE</B>, in consideration of the mutual covenants
in this Agreement and for other good and valuable consideration (the receipt and
sufficiency of which are hereby acknowledged) the parties hereto agree as
follows: </P>
<P align=center><B>ARTICLE 1 <BR>INTERPRETATION </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>1.1</B> </TD>
    <TD>
      <P align=justify><B>Definitions</B></P></TD></TR></TABLE>
<P align=justify>Capitalized terms used herein and not otherwise defined have
the meanings ascribed thereto in the Arrangement Agreement. In this Agreement,
including the recitals: </P>
<P align=justify>&#147;<B>Arrangement Agreement</B>&#148; means the arrangement agreement,
dated as of the date hereof, between Sunward and the Purchaser, which is
attached as Schedule B to this Agreement; </P>
<P align=justify>&#147;<B>Business Day</B>&#148; means any day, other than a Saturday, a
Sunday or a statutory or civic holiday in Toronto, Ontario or Vancouver, British
Columbia; </P>
<P align=justify>&#147;<B>Contract</B>&#148; means any contract, agreement, license,
franchise, lease, arrangement, commitment, understanding, joint venture,
partnership or other right or obligation (written or oral) to which a Party or
any of its subsidiaries (if applicable) is a party or by which it or any of its
subsidiaries (if applicable) is bound or affected or to which any of their
respective properties or assets is subject; </P>
<P align=justify>&#147;<B>Expiry Time</B>&#148; has the meaning ascribed thereto in
Section 3.1(a); </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_2></A>
<P align=justify>&#147;<B>Governmental Entity</B>&#148; means: (a) any multinational,
federal, provincial, territorial, state, regional, municipal, local or other
government, governmental or public department, central bank, court, tribunal,
arbitral body, commission, board, bureau, agency or entity, domestic or foreign;
(b) any stock exchange, including the TSX or the NYSE MKT; (c) any subdivision,
agent, commission, board or authority of any of the foregoing; or (d) any
quasi-governmental or private body, including any tribunal, commission,
regulatory agency or self-regulatory organization, exercising any regulatory,
expropriation or taxing authority under or for the account of any of the
foregoing; </P>
<P align=justify>&#147;<B>Law</B>&#148; or &#147;<B>Laws</B>&#148; means all laws (including common
law), by-laws, statutes, rules, regulations, principles of law and equity,
orders, rulings, ordinances, judgments, injunctions, determinations, awards,
decrees or other requirements, whether domestic or foreign, and the terms and
conditions of any Permit of or from any Governmental Entity or self-regulatory
authority (including the TSX and the NYSE MKT), and the term &#147;applicable&#148; with
respect to such Laws and in a context that refers to a Party, means such Laws as
are applicable to such Party and/or its subsidiaries or their business,
undertaking, property or securities and emanate from a Person having
jurisdiction over the Party and/or its subsidiaries or its or their business,
undertaking, property or securities; </P>
<P align=justify>&#147;<B>Notice</B>&#148; has the meaning ascribed thereto in Section
4.7; </P>
<P align=justify>&#147;<B>Parties</B>&#148; means NovaCopper Inc. and the Securityholder,
and &#147;<B>Party</B>&#148; means any of them; </P>
<P align=justify>&#147;<B>Person</B>&#148; includes an individual, partnership,
association, body corporate, trustee, executor, administrator, legal
representative, government (including any Governmental Entity) or any other
entity, whether or not having legal status; </P>
<P align=justify>&#147;<B>Subject Securities</B>&#148; means the Subject Shares and any
securities exercisable or exchangeable for, or convertible into, Subject Shares
(including Sunward Options and Sunward DSUs) beneficially owned, directly or
indirectly, or controlled or directed, by the Securityholder; </P>
<P align=justify>&#147;<B>Subject Shares</B>&#148; means all Sunward Shares beneficially
owned, directly or indirectly, or controlled or directed, by the Securityholder,
which, for greater certainty, shall include any Sunward Shares issuable upon the
exercise, exchange, vesting or conversion of any security (including Sunward
Options and Sunward DSUs) beneficially owned, directly or indirectly, or
controlled or directed by the Securityholder which may be exercised, converted
into or exchanged for Sunward Shares and shall also include any and all
distributions of securities made in respect of such Subject Shares on or after
the date hereof, and shall further include any Sunward Shares the direct or
indirect beneficial ownership of which, or control or direction over which, is
acquired after the date hereof by the Securityholder; and </P>
<P align=justify>&#147;<B>Transfer</B>&#148; has the meaning ascribed thereto in Section
3.1(a) . </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>1.2</B> </TD>
    <TD>
      <P align=justify><B>Singular; Plural, etc.</B></P></TD></TR></TABLE>
<P align=justify>In this Agreement, words importing the singular number include
the plural and vice versa and words importing gender include the masculine,
feminine and neuter genders. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>1.3</B> </TD>
    <TD>
      <P align=justify><B>Headings, etc.</B></P></TD></TR></TABLE>
<P align=justify>The division of this Agreement into Articles, Sections and
Schedules and the insertion of the recitals and headings are for convenience of
reference only and shall not affect the construction or interpretation of this
Agreement and, unless otherwise stated, all references in this Agreement or in
the Schedules hereto to Articles, Sections and Schedules refer to Articles,
Sections and Schedules of and to this Agreement or of the Schedules in which
such reference is made, as applicable. </P>
<P align=right>2 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>1.4</B> </TD>
    <TD>
      <P align=justify><B>Date for any Action</B></P></TD></TR></TABLE>
<P align=justify>In the event that any date on which any action is required to
be taken hereunder by any of the Parties is not a Business Day, such action
shall be required to be taken on the next succeeding day which is a Business
Day. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>1.5</B> </TD>
    <TD>
      <P align=justify><B>Governing Law</B></P></TD></TR></TABLE>
<P align=justify>This Agreement shall be governed, including as to validity,
interpretation and effect, by the Laws of the Province of British Columbia and
the Laws of Canada applicable therein. Each of the Parties hereby irrevocably
attorns to the jurisdiction of the Courts of the Province of British Columbia in
respect of all matters arising under and in relation to this Agreement. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>1.6</B> </TD>
    <TD>
      <P align=justify><B>Incorporation of Schedules</B></P></TD></TR></TABLE>
<P align=justify>The Schedules attached hereto and described below shall, for
all purposes hereof, form an integral part of this Agreement. </P>
<P style="MARGIN-LEFT: 5%" align=justify>Schedule A &#150; Subject Securities </P>
<P style="MARGIN-LEFT: 5%" align=justify>Schedule B &#150; Arrangement Agreement </P>
<P align=center><B>ARTICLE 2 <BR>REPRESENTATIONS AND WARRANTIES </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>2.1</B> </TD>
    <TD>
      <P align=justify><B>Representations and Warranties of the
      Securityholder</B></P></TD></TR></TABLE>
<P align=justify>The Securityholder represents and warrants to the Purchaser
(and understands and acknowledges that the Purchaser is relying on these
representations and warranties in entering into the Arrangement Agreement and
completing the transactions contemplated hereby and by the Arrangement
Agreement) the matters set out below: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>if an individual, the Securityholder has the legal
      capacity to execute and deliver this Agreement and to consummate the
      transactions contemplated by this Agreement; if a Person other than an
      individual, the Securityholder is validly existing under the laws of its
      governing jurisdiction, has all necessary power and authority to enter
      into this Agreement and has taken all steps necessary to authorize the
      execution of this Agreement and the performance of its obligations under
      this Agreement. This Agreement has been duly executed and delivered by the
      Securityholder and constitutes a legal, valid and binding obligation of
      the Securityholder, enforceable against the Securityholder in accordance
      with its terms, subject to the qualification that such enforceability may
      be limited by bankruptcy, insolvency, reorganization or other applicable
      Laws relating to or affecting rights of creditors generally and subject to
      the qualification that equitable remedies, including specific performance,
      are discretionary;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>the securities set forth in Schedule A represent all the
      Subject Securities beneficially owned, directly or indirectly, or
      controlled or directed, by the Securityholder as of the date hereof. Other
      than the securities set forth in Schedule A, neither the Securityholder
      nor any of his, her or its affiliates beneficially owns, directly or
      indirectly, or exercises control or direction over, or has any agreement
      or option, or right or privilege (whether by Law, pre-emptive or
      contractual) capable of becoming an agreement or option, for the purchase
      or acquisition by the Securityholder or any of his, her or its affiliates
      or transfer to the Securityholder or any of his, her or its affiliates of
      any additional securities of Sunward or any of its
  affiliates;</P></TD></TR></TABLE>
<P align=right>3 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>the Securityholder is, and will continue to be from the
      date hereof (or in the case of any Subject Securities acquired after the
      date hereof, from the date of each such acquisition) through to the Expiry
      Time, the sole beneficial owner of the Subject Securities, with good and
      marketable title thereto, free and clear of all Liens (other than (i) any
      restrictions on transfer imposed by applicable Securities Laws and (ii) as
      provided under this Agreement);</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>the Securityholder has the sole right (to the extent
      permitted by the attributes of such Subject Securities and pursuant to
      applicable Laws, regulation and policy) to dispose of and vote, or direct
      the disposal and voting of, the Subject Securities;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(e) </TD>
    <TD>
      <P align=justify>no Person has any agreement or option, or any right or
      privilege (whether by Laws, pre- emptive or contractual) capable of
      becoming an agreement or option, providing for the purchase, acquisition
      or transfer of any of the Subject Securities or any interest therein or
      right thereto, except the Purchaser pursuant to the Arrangement
      Agreement;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(f) </TD>
    <TD>
      <P align=justify>none of the Subject Securities is subject to any proxy,
      voting trust, vote pooling or other agreement with respect to the right to
      vote, call meetings of any of Sunward&#146;s securityholders or give consents
      or approvals of any kind;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(g) </TD>
    <TD>
      <P align=justify>except as would not materially hinder, delay or impede
      the consummation of the transactions contemplated by this Agreement and
      the Arrangement Agreement, none of the execution and delivery by the
      Securityholder of this Agreement or the completion of the transactions
      contemplated hereby or the compliance by the Securityholder with the
      Securityholder&#146;s obligations hereunder will violate, contravene, result in
      any breach of, or be in conflict with, or constitute a default under, or
      create a state of facts which after notice or lapse of time or both would
      constitute a default under, any term or provision of: (i) if the
      Securityholder is not an individual, any constating or governing documents
      or resolutions of the Securityholder; (ii) any Contract to which the
      Securityholder is a party or by which the Securityholder or any of the
      property or assets of the Securityholder are bound; (iii) any judgment,
      decree, order or award of any Governmental Entity; or (iv) any applicable
      Laws;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(h) </TD>
    <TD>
      <P align=justify>no consent, waiver, approval, authorization, order,
      exemption, registration, licence or declaration of or by, or filing with,
      or notification to any Governmental Entity or other third party which has
      not been made or obtained is required to be made or obtained by the
      Securityholder or any of his, her or its affiliates in connection with the
      execution and delivery by the Securityholder and enforcement against the
      Securityholder of this Agreement or the consummation of any transactions
      provided for herein (provided that the Securityholder makes no
      representations or warranties with respect to the consents, waivers,
      approvals, authorizations or declarations of or by, or filings with, or
      notices to any Governmental Entities or other third parties on the part of
      Sunward or the Purchaser necessary for the consummation of the
      transactions contemplated by this Agreement and by the Arrangement
      Agreement);</P></TD></TR></TABLE>
<P align=right>4 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>there is no private or governmental action, suit, claim,
      arbitration, investigation or other proceeding in progress or pending
      before any Governmental Entity, or, to the knowledge of the
      Securityholder, threatened against the Securityholder or any of his, her
      or its affiliates or, if applicable, any of their respective directors or
      officers (in their capacities as such) that, individually or in the
      aggregate, could adversely affect the Securityholder&#146;s ability to enter
      into this Agreement or perform his, her or its obligations hereunder or
      the title of the Securityholder to any of the Subject Securities. There is
      no judgment, decree or order against the Securityholder or any of his, her
      or its affiliates or, if applicable, any of their directors or officers
      (in their capacities as such) that could prevent, enjoin, alter, delay or
      adversely affect the ability of the Securityholder to enter into this
      Agreement or to perform his, her or its obligations under this Agreement
      or adversely affect the title of the Securityholder to any of the Subject
      Securities; and</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(j) </TD>
    <TD>
      <P align=justify>the Securityholder is a sophisticated investor with
      respect to the Subject Securities and has independently and without
      reliance upon the Purchaser and based on such information as the
      Securityholder has deemed appropriate, made his, her or its own analysis
      and decision to enter into this Agreement. The Securityholder has received
      a copy of the Arrangement Agreement and has had an opportunity to review
      the Arrangement Agreement with his, her or its legal counsel. As of the
      date hereof, the Securityholder has full knowledge of and access to
      information concerning Sunward and the Sunward Shares. Any factors
      particular to the Securityholder, including non-financial factors, that
      were considered relevant by the Securityholder in assessing the
      Consideration offered under the Arrangement did not have the effect of
      reducing the Consideration that would otherwise have been considered
      acceptable by the Securityholder. The Securityholder acknowledges that,
      unless and until this Agreement is terminated in accordance with its
      terms, the agreements contained herein with respect to the Subject
      Securities by the Securityholder are
irrevocable.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>2.2</B> </TD>
    <TD>
      <P align=justify><B>Representations and Warranties of the
    Purchaser</B></P></TD></TR></TABLE>
<P align=justify>The Purchaser represents and warrants to the Securityholder
(and acknowledges that the Securityholder is relying on these representations
and warranties in completing the transactions contemplated hereby) the matters
set out below: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>the Purchaser is a corporation duly incorporated and
      validly existing under the laws of the Province of British Columbia and
      has all necessary corporate power, authority and capacity to enter into
      this Agreement and to carry out its obligations under this Agreement. The
      execution and delivery of this Agreement and the consummation of the
      transactions contemplated by this Agreement have been duly authorized by
      all necessary corporate action on the part of the Purchaser. This
      Agreement has been duly executed and delivered by the Purchaser and
      constitutes a legal, valid and binding obligation of the Purchaser,
      enforceable against the Purchaser in accordance with its terms, subject to
      the qualification that such enforceability may be limited by bankruptcy,
      insolvency, reorganization or other applicable Laws relating to or
      affecting rights of creditors generally and subject to the qualification
      that equitable remedies, including specific performance, are
      discretionary; and</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>except as would not materially hinder, delay or impede
      the consummation of the transactions contemplated by this Agreement and
      the Arrangement Agreement, none of the execution and delivery by the
      Purchaser of this Agreement or the completion of the transactions
      contemplated hereby or the compliance by the Purchaser with the
      Purchaser&#146;s obligations hereunder will violate, contravene, result in any
      breach of, or be in conflict with, or constitute a default under, or
      create a state of facts which after notice or lapse of time or both would
      constitute a default under, any term or provision of: (i) any constating
      or governing documents or resolutions of the Purchaser; (ii) any Contract
      to which the Purchaser is a party or by which the Purchaser or any of the
      property or assets of the Purchaser are bound; (iii) any judgment, decree,
      order or award of any Governmental Entity; or (iv) any applicable
    Laws;</P></TD></TR></TABLE>
<P align=right>5 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>there is no private or governmental action, suit, claim,
      arbitration, investigation or other proceeding in progress or pending
      before any Governmental Entity, or, to the knowledge of the Purchaser,
      threatened against the Purchaser or any of its affiliates or any of their
      respective directors or officers (in their capacities as such) that,
      individually or in the aggregate, could impair the Purchaser&#146;s ability to
      enter into this Agreement or perform its obligations under this Agreement.
      There is no judgment, decree or order against the Purchaser or any of its
      affiliates or any of their directors or officers (in their capacities as
      such) that could prevent, enjoin, alter, delay or adversely affect the
      ability of the Purchaser to enter into this Agreement or to perform its
      obligations under this Agreement.</P></TD></TR></TABLE>
<P align=center><B>ARTICLE 3 <BR>COVENANTS </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>3.1</B> </TD>
    <TD>
      <P align=justify><B>Covenants of the
Securityholder</B></P></TD></TR></TABLE>
<P align=justify>The Securityholder hereby irrevocably covenants and agrees as
follows: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>from the date of this Agreement until the termination of
      this Agreement in accordance with its terms (the &#147;<B>Expiry Time</B>&#148;),
      the Securityholder shall not (A) sell, transfer, gift, assign, convey,
      pledge, hypothecate, encumber, grant any option with respect to, grant a
      security interest in or otherwise dispose of any right or interest in
      (including by way of deposit or tender under any take-over bid) (any such
      event, a &#147;<B>Transfer</B>&#148;) any of the Subject Securities, other than (i)
      the exercise, exchange, vesting or conversion of Sunward Options or
      Sunward DSUs in accordance with their terms for Sunward Shares, which
      Sunward Shares will become Subject Securities hereunder, or (ii) a
      Transfer to an affiliate of the Securityholder who agrees in writing to
      assume all of the Securityholder&#146;s obligations hereunder and to be bound
      hereby to the same extent as the Securityholder is bound hereby, or enter
      into any agreement, arrangement or understanding in connection therewith
      (whether by actual disposition or effective economic disposition due to
      cash settlement or otherwise), other than pursuant to the Arrangement,
      without having first obtained the prior written consent of the Purchaser,
      or (B) other than as set forth herein, grant any proxies or powers of
      attorney with respect to any Subject Securities, deposit any Subject
      Securities into a voting trust, in any way transfer any of the voting
      rights associated with any of the Subject Securities, or enter into a
      voting agreement, understanding or arrangement with respect to the right
      to vote, call meetings of Sunward Shareholders or give consents or
      approvals of any kind with respect to any Subject Securities. In
      furtherance of this Agreement, the Securityholder hereby authorizes the
      Purchaser, Sunward or their respective legal counsel to notify Sunward&#146;s
      transfer agent that there is a stop transfer order with respect to all of
      the Subject Securities (and that this Agreement places limits on the
      voting and transfer of such Subject Securities, as applicable), provided
      that if any such action involves costs to the Securityholder, those costs
      shall be paid or promptly reimbursed by the
Purchaser. The Parties agree that such stop transfer order shall be
removed and shall be of no further force and effect upon the termination
of this Agreement in accordance with Section 4.1;</P></TD></TR></TABLE>
<P align=right>6 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>from time to time, until the Expiry Time, to vote (or
      cause to be voted) all the Subject Shares at any meeting of any of the
      securityholders of Sunward at which the Securityholder is entitled to
      vote, including without limitation the Sunward Meeting, and in any action
      by written consent of the securityholders of
Sunward:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>in favour of the approval, consent, ratification and
      adoption of the Arrangement Resolution and the transactions contemplated
      by the Arrangement Agreement (and any actions required for the
      consummation of the transactions contemplated by the Arrangement
      Agreement); and</P></TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>other than the Arrangement, against (A) any extraordinary
      corporate transaction, including any merger, reorganization,
      consolidation, amalgamation, arrangement, business combination, share
      exchange, liquidation, dissolution, recapitalization, or similar
      transaction involving Sunward or any of its subsidiaries; (B) any sale,
      lease or transfer of any significant part of the assets of Sunward or any
      of its subsidiaries; (C) any Acquisition Proposal; (D) any material change
      in the capitalization of Sunward or any of its subsidiaries or the
      corporate structure or constating documents of Sunward or any of its
      subsidiaries; (E) any action that would reasonably be expected to impede,
      delay, interfere with, or discourage the transactions contemplated by the
      Arrangement Agreement; and (F) any action or agreement that would result
      in a breach of any covenant, representation or warranty or any other
      obligation or agreement of Sunward under the Arrangement
  Agreement;</P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 10%" align=justify>in connection with the foregoing,
subject to this Section 3.1(b), the Securityholder shall deposit an irrevocable
proxy, duly completed and executed in respect of all of the Subject Shares at
least five (5) business days prior to the Sunward Meeting, voting all such
Subject Shares in favour of the Arrangement Resolution and otherwise in the
manner described in this Section 3.1(b); provided, however, that such
irrevocable proxy will terminate at the Expiry Time. Neither the Securityholder
nor any Person acting on his, her or its behalf will take any action to
withdraw, amend or invalidate any proxy deposited by the Securityholder pursuant
to this Agreement, notwithstanding any statutory or other rights which the
Securityholder might have unless this Agreement is terminated in accordance with
Section 4.1; </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>until the Expiry Time, to not, without the prior written
      consent of the Purchaser, requisition or join in the requisition of any
      meeting of any of the securityholders of Sunward for the purpose of
      considering any resolution;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>from time to time, until the Expiry Time, when any
      meeting of Sunward securityholders is held, to appear at such meeting or
      otherwise cause the applicable Subject Securities to be counted as present
      thereat for the purpose of establishing a quorum;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(e) </TD>
    <TD>
      <P align=justify>until the Expiry Time, to not itself, and to cause his,
      her or its Representatives not to, directly or indirectly: (A) solicit,
      initiate, encourage or otherwise facilitate (including by way of entering
      into any agreement, arrangement or understanding) inquiries, submissions
      of proposals or offers from, or provide information to, any other Person,
      entity or group (other than the Purchaser or the Securityholder&#146;s
      Representatives) relating to any Acquisition Proposal or potential
      Acquisition Proposal other than the Arrangement, (B) participate in any
      discussions or negotiations regarding any Acquisition Proposal other than
      the Arrangement, or (C) accept, enter into or endorse, or publicly propose
      to accept or enter into, any letter of intent, agreement, arrangement or
      understanding related to any Acquisition Proposal other than the
      Arrangement; provided, however, that, notwithstanding the foregoing,
      nothing in this Section 3.1(e) shall prevent any shareholder, director or
      officer of the Securityholder, if applicable, who is also a director or
      officer of Sunward from fulfilling his or her fiduciary obligations,
      provided that such act or thing is permitted by and is done in strict
      compliance with the terms of the Arrangement
Agreement;</P></TD></TR></TABLE>
<P align=right>7 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_8></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(f) </TD>
    <TD>
      <P align=justify>until the Expiry Time, to:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>immediately cease and cause to be terminated any and all
      solicitations, encouragements, existing discussions and negotiations, if
      any, with any Person or group or any agent or representative of such
      Person or group with respect to any Acquisition Proposal or potential
      Acquisition Proposal other than the Arrangement; and</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>immediately (and in any event within 48 hours following
      receipt) notify the Purchaser of any Acquisition Proposal or inquiry in
      respect of a potential Acquisition Proposal other than the Arrangement of
      which the Securityholder or, to the knowledge of the Securityholder, any
      of the shareholders, directors or officers of the Securityholder, if
      applicable, becomes aware. Such notification shall be made in writing and
      shall include, to the extent known by the Securityholder, the identity of
      the Person making such Acquisition Proposal or inquiry and a description
      of the material terms and conditions thereof, together with a copy of all
      documentation relating to such Acquisition Proposal or inquiry; provided
      however that such notification shall not be required if Sunward has
      already notified the Purchaser in the manner contemplated by the
      Arrangement Agreement;</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(g) </TD>
    <TD>
      <P align=justify>until the Expiry Time, to waive any rights of appraisal
      or rights of dissent that the Securityholder may have arising from the
      transactions contemplated by the Arrangement Agreement;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(h) </TD>
    <TD>
      <P align=justify>until the Expiry Time, to not make any public statements
      which may reasonably be construed as being against the transactions
      contemplated by the Arrangement Agreement or any aspect thereof and to not
      bring, or threaten to bring, any suit or proceeding for the purpose of, or
      which has the effect of, directly or indirectly, stopping, preventing,
      impeding, delaying or varying such transactions or any aspect
    thereof;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>until the Expiry Time, to promptly notify the Purchaser
      of any acquisitions by the Securityholder or any of his, her or its
      affiliates of any securities of Sunward, if any, after the date hereof,
      which, for greater certainty, shall include any Sunward Options and
      Sunward DSUs and any Sunward Shares issuable upon the exercise, conversion
      or vesting, as applicable, of any Sunward Options or Sunward DSUs, owned
      or controlled by the Securityholder which may be exercised, converted into
      or exchanged for Sunward Shares. Any such securities shall be subject to
      the terms of this Agreement as though they were Subject Securities owned
      by the Securityholder on the date hereof;</P></TD></TR></TABLE>
<P align=right>8 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_9></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(j) </TD>
    <TD>
      <P align=justify>until the Expiry Time, not to (i) exercise any
      securityholder rights or remedies available at common law or pursuant to
      applicable securities legislation; or (ii) take any other action of any
      kind, in each case which might reasonably be regarded as likely to reduce
      the success of, or delay or interfere with the completion of, the
      transactions contemplated by the Arrangement Agreement;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(k) </TD>
    <TD>
      <P align=justify>to hereby irrevocably consent
to:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>details of this Agreement being set out in any
      information circular and court documents produced by Sunward, the
      Purchaser or any of their respective affiliates in connection with the
      transactions contemplated by this Agreement and the Arrangement Agreement;
      and</P></TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>this Agreement being made publicly available, including
      by filing on SEDAR;</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(l) </TD>
    <TD>
      <P align=justify>except as required by applicable Law or applicable stock
      exchange requirements, not to make any public announcement or statement
      with respect to the transactions contemplated herein or pursuant to the
      Arrangement Agreement without the prior written approval of the Purchaser
      and, in the case any such public announcement or statement is required by
      applicable Law or applicable stock exchange requirements, to consult with
      the Purchaser and provide the Purchaser a reasonable opportunity to review
      and comment on any such public announcement or statement, and give
      reasonable consideration to any comments made by the Purchaser and its
      legal counsel, in each case, to the extent permitted by applicable Law or
      applicable stock exchange requirements; and</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(m) </TD>
    <TD>
      <P align=justify>until the Expiry Time, at the Purchaser&#146;s request and
      sole expense, to use its, his or her commercially reasonable efforts to
      take, or cause to be taken, all actions, and to do, or cause to be done,
      and to assist and cooperate with Sunward and the Purchaser in doing, all
      things necessary, proper or advisable to consummate and make effective, in
      the most expeditious manner possible, the Arrangement and the other
      transactions contemplated by the Arrangement Agreement, and to carry out
      the intents and purposes of this Agreement, and, other than pursuant to
      and in compliance with Section 7.2 of the Arrangement Agreement, to not
      enter into any agreement or understanding or make any commitment with any
      Person that would violate any provision or agreement contained in this
      Agreement.</P></TD></TR></TABLE>
<P align=center><B>ARTICLE 4 <BR>GENERAL </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.1</B> </TD>
    <TD>
      <P align=justify><B>Termination</B></P></TD></TR></TABLE>
<P align=justify>This Agreement automatically and immediately shall terminate
and be of no further force or effect upon the earliest of:</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>the written agreement of the Purchaser and the
      Securityholder;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>the termination of the Arrangement Agreement in
      accordance with its terms;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>written notice by the Securityholder if the Purchaser,
      without the prior written consent of the Securityholder, decreases the
      amount of Consideration as set out in the Arrangement Agreement (provided
      that a decrease in the market price of the Consideration Shares will not
      constitute a decrease in the amount of
Consideration);</P></TD></TR></TABLE>
<P align=right>9 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_10></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>August 31, 2015; or</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(e) </TD>
    <TD>
      <P align=justify>the Effective Date.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.2</B> </TD>
    <TD>
      <P align=justify><B>Time of the Essence</B></P></TD></TR></TABLE>
<P align=justify>Time shall be of the essence in this Agreement. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.3</B> </TD>
    <TD>
      <P align=justify><B>Equitable Relief</B></P></TD></TR></TABLE>
<P align=justify>The Parties agree that irreparable harm will occur for which
money damages will not be an adequate remedy at Law in the event that any of the
provisions of this Agreement are not performed by the Securityholder or any of
its affiliates in accordance with their terms or are otherwise breached. It is
accordingly agreed that the Purchaser shall be entitled to seek an injunction or
injunctions and other equitable relief to prevent breaches or threatened
breaches of the provisions of this Agreement by the Securityholder or any of its
affiliates and shall be entitled to obtain specific performance by the
Securityholder or any of its affiliates of any such provisions. The
Securityholder hereby agrees not to seek the posting of any security bond or
other assurance in respect of such injunctive or other equitable relief. Such
remedies will not be the exclusive remedies for any breach of this Agreement and
will be in addition to all other remedies available at Law or equity. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.4</B> </TD>
    <TD>
      <P align=justify><B>Fiduciary Duties</B></P></TD></TR></TABLE>
<P align=justify>The Purchaser hereby agrees that the Securityholder is not
making any agreement or understanding herein in any capacity other than in his,
her or its capacity as securityholder of Sunward. Nothing herein shall in any
way limit any actions that the Securityholder may take that are, upon the advice
of counsel, necessary to discharge such Person&#146;s fiduciary duties as a director
of Sunward.</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.5</B> </TD>
    <TD>
      <P align=justify><B>Waiver; Amendment</B></P></TD></TR></TABLE>
<P align=justify>Each Party agrees and confirms that any provision of this
Agreement may be amended or waived if, and only if, such amendment or waiver is
in writing and signed, in the case of an amendment, by the Securityholder and
the Purchaser or in the case of a waiver, by the Party against whom the waiver
is to be effective and no failure or delay by any Party in exercising any right,
power or privilege hereunder shall operate as a waiver thereof nor shall any
single or partial exercise thereof preclude any other or further exercise. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.6</B> </TD>
    <TD>
      <P align=justify><B>Entire Agreement</B></P></TD></TR></TABLE>
<P align=justify>This Agreement constitutes the entire agreement among the
Parties with respect to the subject matter hereof and supersedes all prior
agreements and understandings among the Parties with respect thereto. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.7</B> </TD>
    <TD>
      <P align=justify><B>Notices</B></P></TD></TR></TABLE>
<P align=justify>Any notice, consent, approval or other communication required
or permitted to be given in connection with this Agreement (in this Section
referred to as a &#147;<B>Notice</B>&#148;) shall be in writing and shall be sufficiently
given if delivered (whether in person, by courier service or other personal
method of delivery), or if transmitted by facsimile or e-mail: </P>
<P align=right>10 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_11></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left>(a) </TD>
    <TD align=left width="90%" colSpan=2>if to the Purchaser: </TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp; </TD>
    <TD width="90%" colSpan=2>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="90%" colSpan=2>NovaCopper Inc. </TD></TR>
  <TR vAlign=top>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
  <TD align=left width="90%" colSpan=2>Suite 1950 - 777 Dunsmuir Street  </TD></TR>
  <TR vAlign=top>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="10%">Vancouver, BC </TD>
    <TD align=left width="80%">V7Y 1K4 </TD></TR>
  <TR vAlign=top>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="8%">Attention: </TD>
    <TD align=left width="82%">Chief Executive Officer </TD></TR>
  <TR vAlign=top>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="8%">Facsimile: </TD>
    <TD align=left width="82%">604-638-8088 </TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp; </TD>
    <TD width="8%">&nbsp; </TD>
    <TD width="82%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="90%" colSpan=2>with a copy (which shall not
      constitute notice) to: </TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp; </TD>
    <TD width="8%">&nbsp; </TD>
    <TD width="82%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
  <TD align=left width="90%" colSpan=2>Blake, Cassels &amp; Graydon LLP  </TD></TR>
  <TR vAlign=top>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="90%" colSpan=2>595 Burrard Street, Suite 2600 </TD></TR>
  <TR vAlign=top>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="90%" colSpan=2>P.O. Box 49314, Three Bentall Centre    </TD></TR>
  <TR vAlign=top>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="90%" colSpan=2>Vancouver, BC V7X 1L3 </TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp; </TD>
    <TD width="8%">&nbsp; </TD>
    <TD width="82%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="8%">Attention: </TD>
    <TD align=left width="82%">Trisha Robertson </TD></TR>
  <TR vAlign=top>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="8%">Facsimile: </TD>
    <TD align=left width="82%">604-631-3309 </TD></TR>
  <TR vAlign=top>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="8%">Email: </TD>
    <TD align=left width="82%">trisha.robertson@blakes.com </TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp; </TD>
    <TD width="8%">&nbsp; </TD>
    <TD width="82%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>(b) </TD>
    <TD align=left width="90%" colSpan=2>if to the Securityholder: </TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp; </TD>
    <TD width="8%">&nbsp; </TD>
    <TD width="82%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
  <TD align=left width="90%" colSpan=2>Baupost Group Securities, L.L.C.  </TD></TR>
  <TR vAlign=top>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
  <TD align=left width="90%" colSpan=2>10 Saint James Avenue, Suite 1700  </TD></TR>
  <TR vAlign=top>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="90%" colSpan=2>Boston, MA 02116 </TD></TR>
  <TR vAlign=top>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="90%" colSpan=2>Attn: Compliance Department </TD></TR>
  <TR vAlign=top>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="90%" colSpan=2>Email: <U>compliance@baupost.com</U>    </TD></TR></TABLE>
<P align=justify>Any Notice delivered or transmitted to a Party as provided
above shall be deemed to have been given and received on the day it is delivered
or transmitted, provided that it is delivered or transmitted on a Business Day
prior to 5:00 p.m. local time in the place of delivery or receipt. If the Notice
is delivered or transmitted after 5:00 p.m. local time or if the day is not a
Business Day, then the Notice shall be deemed to have been given and received on
the next Business Day. </P>
<P align=justify>Either Party may, from time to time, change its address by
giving Notice to the other Party in accordance with the provisions of this
Section 4.7. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.8</B> </TD>
    <TD>
      <P align=justify><B>Severability</B></P></TD></TR></TABLE>
<P align=justify>If any term or other provision of this Agreement is invalid,
illegal or incapable of being enforced by any rule or Law or public policy, all
other conditions and provisions of this Agreement shall nevertheless remain in
full force and effect so long as the economic or legal substance of the
transactions contemplated hereby is not affected in any manner materially
adverse to any Party. Upon such determination that any term or other provision
is invalid, illegal or incapable of being enforced, the Parties shall negotiate
in good faith to modify this Agreement so as to effect the original intent of
the Parties as closely as possible in an acceptable manner to the end that the
transactions contemplated hereby are fulfilled to the fullest extent possible.
</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.9</B> </TD>
    <TD>
      <P align=justify><B>Successors and Assigns</B></P></TD></TR></TABLE>
<P align=justify>The provisions of this Agreement shall be binding upon and
enure to the benefit of the Parties and their respective successors, permitted
assigns and personal representatives, provided that no Party may assign,
delegate or otherwise transfer any of its rights, interests or obligations under
this Agreement without the prior written consent of the other Party hereto,
except that the Purchaser may assign, delegate or otherwise transfer any of its
rights, interests or obligations under this Agreement to any of its affiliates
without reducing its own obligations hereunder without the consent of the
Securityholder. </P>
<P align=right>11 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_12></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.10</B> </TD>
    <TD>
      <P align=justify><B>Expenses</B></P></TD></TR></TABLE>
<P align=justify>Except as otherwise expressly set forth herein, each Party
shall pay all costs and expenses (including the fees and disbursements of legal
counsel and other advisers) it incurs in connection with the negotiation,
preparation and execution of this Agreement and the transactions contemplated by
this Agreement. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.11</B> </TD>
    <TD>
      <P align=justify><B>Independent Legal Advice</B></P></TD></TR></TABLE>
<P align=justify>Each of the Parties hereby acknowledges that it has been
afforded the opportunity to obtain independent legal advice and confirms by the
execution of this Agreement that it has either done so or waived its right to do
so in connection with the entering into of this Agreement. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.12</B> </TD>
    <TD>
      <P align=justify><B>Further Assurances</B></P></TD></TR></TABLE>
<P align=justify>The Parties shall, with reasonable diligence, do all things and
provide all such reasonable assurances as may be required to consummate the
transactions contemplated by this Agreement, and each Party shall provide such
further documents or instruments required by the other Party as may be
reasonably necessary or desirable to effect the purpose of this Agreement and
carry out its provisions, whether before or after the Effective Time. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.13</B> </TD>
    <TD>
      <P align=justify><B>Rules of Construction</B></P></TD></TR></TABLE>
<P align=justify>The Parties have participated jointly in negotiating and
drafting this Agreement. If an ambiguity or a question of intent or
interpretation arises, this Agreement shall be construed as if drafted jointly
by the Parties, and no presumption or burden of proof shall arise favouring or
disfavouring any Party by virtue of the authorship of any provision of this
Agreement. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.14</B> </TD>
    <TD>
      <P align=justify><B>No Third Party
Beneficiaries</B></P></TD></TR></TABLE>
<P align=justify>The Parties hereby agree that their respective representations,
warranties, covenants and agreements set forth herein are solely for the benefit
of the other Party hereto, in accordance with and subject to the terms of this
Agreement, and this Agreement is not intended to, and does not, confer upon any
Person other than the parties hereto any rights or remedies hereunder, including
the right to rely upon the representations and warranties set forth herein. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.15</B> </TD>
    <TD>
      <P align=justify><B>Execution and Delivery</B></P></TD></TR></TABLE>
<P align=justify>This Agreement may be executed by the Parties in counterparts
and may be executed and delivered by facsimile and all the counterparts and
facsimiles together constitute one and the same agreement. </P>
<P align=center>[<I>Remainder of page intentionally left blank</I>]<B> </B></P>
<P align=right>12 </P>
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<P align=justify><B>IN WITNESS WHEREOF</B> the Parties have executed this
Agreement. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%"><B>Baupost Group Securities, L.L.C.</B> </TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="50%">&nbsp; </TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="50%">&nbsp; </TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="50%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="50%">&nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<I>/s/ Gregory Ciongoli</I>
</TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp;Name: Gregory Ciongoli </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp;Title: Partner </TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="50%">&nbsp; </TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="50%">&nbsp; </TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="50%">&nbsp; </TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="50%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%"><B>NOVACOPPER INC.</B> </TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="50%">&nbsp; </TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="50%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="50%">By:
      <I>/s/ Elaine Sanders</I> </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp;Name: Elaine Sanders </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp;Title: VP &amp; Chief Financial Officer
  </TD></TR></TABLE>
<P align=right>13 </P>
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noShade SIZE=5>
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<P align=center><B>SCHEDULE</B><B> &#147;A&#148; </B></P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="100%" border=1>

  <TR vAlign=top>
    <TD rowSpan=3 align=center valign="top" noWrap ><B>Registered Owner</B>
      <BR><BR></TD>
    <TD width="25%" rowSpan=3 align=center valign="top" noWrap ><B>Beneficial
      Owner</B> <BR><BR></TD>
    <TD width="17%" rowSpan=3 align=center valign="top" noWrap><B>Sunward</B>
      <BR><B>Options</B> <BR></TD>
    <TD width="17%" rowSpan=3 align=center valign="top" noWrap><B>Sunward DSUs</B>
    <BR><BR></TD>
    <TD width="17%" rowSpan=3 align=center valign="top" noWrap><B>Sunward Shares</B>
    <BR><BR></TD></TR>
  <TR vAlign=top></TR>
  <TR></TR>
  <TR vAlign=top>
    <TD rowSpan=2 align=left valign="top" >CDS &amp; Co. (nominee for the
      Canadian <BR>Depository for Securities Ltd.) </TD>
    <TD width="25%" rowSpan=2 align=left valign="top" >Entities managed by The
      <BR>Baupost Group, L.L.C. </TD>
    <TD width="17%" rowSpan=2 align=left valign="top"><BR></TD>
    <TD width="17%" rowSpan=2 align=left valign="top"><BR></TD>
    <TD width="17%" rowSpan=2 align=left valign="top">15,318,200 <BR></TD></TR>
<TR vAlign=top></TR></TABLE></DIV><BR>
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<P align=center><B>SCHEDULE &#147;B&#148; </B></P>
<P align=center><B>Arrangement Agreement </B></P>
<P align=center>[See attached.] </P>
<HR align=center width="100%" color=black noShade SIZE=5>

</BODY>

</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.5
<SEQUENCE>7
<FILENAME>exhibit10-5.htm
<DESCRIPTION>EXHIBIT 10.5
<TEXT>
<HTML>
<HEAD>
   <TITLE> NovaCopper Inc.: Exhibit 10.5 - Filed by newsfilecorp.com</TITLE>
   <META name="HandheldFriendly" content="true">
</HEAD>

<BODY style="font-size:10pt;">

<HR noshade align="center" width=100% size=3 color="black">

<P align=center>&nbsp;<B>VOTING SUPPORT AGREEMENT </B></P>
<P style="MARGIN-LEFT: 5%" align=justify><B>THIS AGREEMENT</B> is made as of
April 22, 2015 </P>
<P align=justify><B>BETWEEN: </B></P>
<P style="MARGIN-LEFT: 10%" align=justify><B>NOVACOPPER INC.</B>, a corporation
existing under the laws of the Province of British Columbia (the
&#147;<B>Purchaser</B>&#148;)</P>
<P align=center>- and - </P>
<P style="MARGIN-LEFT: 10%" align=justify><B>PAULSON &amp; CO. INC.</B>, a
corporation existing under the laws of Delaware (the &#147;<B>Securityholder</B>&#148;)
</P>
<P align=justify><B>RECITALS: </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">1. </TD>
    <TD>
      <P align=justify>The Securityholder is the beneficial owner of, or has
      control or direction over, the Subject Securities.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">2. </TD>
    <TD>
      <P align=justify>The Securityholder understands that Sunward Resources
      Ltd. (&#147;<B>Sunward</B>&#148;) and the Purchaser are, concurrently with the
      execution and delivery of this Agreement, executing and delivering the
      Arrangement Agreement.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">3. </TD>
    <TD>
      <P align=justify>This Agreement sets out the terms and conditions of the
      agreement of the Securityholder to abide by the covenants in respect of
      the Subject Securities and the other restrictions and covenants set forth
      herein.</P></TD></TR></TABLE>
<P align=justify style="text-indent:5%"><B>NOW THEREFORE</B>, in consideration of the mutual covenants
in this Agreement and for other good and valuable consideration (the receipt and
sufficiency of which are hereby acknowledged) the parties hereto agree as
follows: </P>
<P align=center><B>ARTICLE 1 <BR>INTERPRETATION </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>1.1</B> </TD>
    <TD>
      <P align=justify><B>Definitions</B></P></TD></TR></TABLE>
<P align=justify>Capitalized terms used herein and not otherwise defined have
the meanings ascribed thereto in the Arrangement Agreement. In this Agreement,
including the recitals: </P>
<P align=justify>&#147;<B>Arrangement Agreement</B>&#148; means the arrangement agreement,
dated as of the date hereof, between Sunward and the Purchaser; </P>
<P align=justify>&#147;<B>Business Day</B>&#148; means any day, other than a Saturday, a
Sunday or a statutory or civic holiday in Toronto, Ontario or Vancouver, British
Columbia; </P>
<P align=justify>&#147;<B>Contract</B>&#148; means any contract, agreement, license,
franchise, lease, arrangement, commitment, understanding, joint venture,
partnership or other right or obligation (written or oral) to which a Party or
any of its subsidiaries (if applicable) is a party or by which it or any of its
subsidiaries (if applicable) is bound or affected or to which any of their
respective properties or assets is subject; </P>
<P align=justify>&#147;<B>Expiry Time</B>&#148; has the meaning ascribed thereto in
Section 3.1(a); </P>
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<P align=justify>&#147;<B>Governmental Entity</B>&#148; means: (a) any multinational,
federal, provincial, territorial, state, regional, municipal, local or other
government, governmental or public department, central bank, court, tribunal,
arbitral body, commission, board, bureau, agency or entity, domestic or foreign;
(b) any stock exchange, including the TSX or the NYSE MKT; (c) any subdivision,
agent, commission, board or authority of any of the foregoing; or (d) any
quasi-governmental or private body, including any tribunal, commission,
regulatory agency or self-regulatory organization, exercising any regulatory,
expropriation or taxing authority under or for the account of any of the
foregoing; </P>
<P align=justify>&#147;<B>Law</B>&#148; or &#147;<B>Laws</B>&#148; means all laws (including common
law), by-laws, statutes, rules, regulations, principles of law and equity,
orders, rulings, ordinances, judgments, injunctions, determinations, awards,
decrees or other requirements, whether domestic or foreign, and the terms and
conditions of any Permit of or from any Governmental Entity or self-regulatory
authority (including the TSX and the NYSE MKT), and the term &#147;applicable&#148; with
respect to such Laws and in a context that refers to a Party, means such Laws as
are applicable to such Party and/or its subsidiaries or their business,
undertaking, property or securities and emanate from a Person having
jurisdiction over the Party and/or its subsidiaries or its or their business,
undertaking, property or securities; </P>
<P align=justify>&#147;<B>Notice</B>&#148; has the meaning ascribed thereto in Section
4.8; </P>
<P align=justify>&#147;<B>Parties</B>&#148; means NovaCopper Inc. and the Securityholder,
and &#147;<B>Party</B>&#148; means any of them; </P>
<P align=justify>&#147;<B>Person</B>&#148; includes an individual, partnership,
association, body corporate, trustee, executor, administrator, legal
representative, government (including any Governmental Entity) or any other
entity, whether or not having legal status; </P>
<P align=justify>&#147;<B>Subject Securities</B>&#148; means the Subject Shares and any
securities exercisable or exchangeable for, or convertible into, Subject Shares
(including Sunward Options and Sunward DSUs) beneficially owned, directly or
indirectly, or controlled or directed, by the Securityholder; </P>
<P align=justify>&#147;<B>Subject Shares</B>&#148; means all Sunward Shares beneficially
owned, directly or indirectly, or controlled or directed, by the Securityholder,
which, for greater certainty, shall include any Sunward Shares issuable upon the
exercise, exchange, vesting or conversion of any security (including Sunward
Options and Sunward DSUs) beneficially owned, directly or indirectly, or
controlled or directed by the Securityholder which may be exercised, converted
into or exchanged for Sunward Shares and shall also include any and all
distributions of securities made in respect of such Subject Shares on or after
the date hereof, and shall further include any Sunward Shares the direct or
indirect beneficial ownership of which, or control or direction over which, is
acquired after the date hereof by the Securityholder; and </P>
<P align=justify>&#147;<B>Transfer</B>&#148; has the meaning ascribed thereto in Section
3.1(a) . </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>1.2</B> </TD>
    <TD>
      <P align=justify><B>Singular; Plural, etc.</B></P></TD></TR></TABLE>
<P align=justify>In this Agreement, words importing the singular number include
the plural and vice versa and words importing gender include the masculine,
feminine and neuter genders. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>1.3</B> </TD>
    <TD>
      <P align=justify><B>Headings, etc.</B></P></TD></TR></TABLE>
<P align=justify>The division of this Agreement into Articles, Sections and
Schedules and the insertion of the recitals and headings are for convenience of
reference only and shall not affect the construction or interpretation of this
Agreement and, unless otherwise stated, all references in this Agreement or in
the Schedules hereto to Articles, Sections and Schedules refer to Articles,
Sections and Schedules of and to this Agreement or of the Schedules in which
such reference is made, as applicable. </P>
<P align=right>2 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>1.4</B> </TD>
    <TD>
      <P align=justify><B>Date for any Action</B></P></TD></TR></TABLE>
<P align=justify>In the event that any date on which any action is required to
be taken hereunder by any of the Parties is not a Business Day, such action
shall be required to be taken on the next succeeding day which is a Business
Day. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>1.5</B> </TD>
    <TD>
      <P align=justify><B>Governing Law</B></P></TD></TR></TABLE>
<P align=justify>This Agreement shall be governed, including as to validity,
interpretation and effect, by the Laws of the Province of British Columbia and
the Laws of Canada applicable therein. Each of the Parties hereby irrevocably
attorns to the jurisdiction of the Courts of the Province of British Columbia in
respect of all matters arising under and in relation to this Agreement. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>1.6</B> </TD>
    <TD>
      <P align=justify><B>Incorporation of Schedules</B></P></TD></TR></TABLE>
<P align=justify>The Schedules attached hereto and described below shall, for
all purposes hereof, form an integral part of this Agreement. </P>
<P style="MARGIN-LEFT: 5%" align=justify>Schedule A &#150; Subject Securities </P>
<P align=center><B>ARTICLE 2 <BR>REPRESENTATIONS AND WARRANTIES </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>2.1</B> </TD>
    <TD>
      <P align=justify><B>Representations and Warranties of the
      Securityholder</B></P></TD></TR></TABLE>
<P align=justify>The Securityholder represents and warrants to the Purchaser
(and understands and acknowledges that the Purchaser is relying on these
representations and warranties in entering into the Arrangement Agreement and
completing the transactions contemplated hereby and by the Arrangement
Agreement) the matters set out below: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>if an individual, the Securityholder has the legal
      capacity to execute and deliver this Agreement and to consummate the
      transactions contemplated by this Agreement; if a Person other than an
      individual, the Securityholder is validly existing under the laws of its
      governing jurisdiction, has all necessary power and authority to enter
      into this Agreement and has taken all steps necessary to authorize the
      execution of this Agreement and the performance of its obligations under
      this Agreement. This Agreement has been duly executed and delivered by the
      Securityholder and constitutes a legal, valid and binding obligation of
      the Securityholder, enforceable against the Securityholder in accordance
      with its terms, subject to the qualification that such enforceability may
      be limited by bankruptcy, insolvency, reorganization or other applicable
      Laws relating to or affecting rights of creditors generally and subject to
      the qualification that equitable remedies, including specific performance,
      are discretionary;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>the securities set forth in Schedule A represent all the
      Subject Securities beneficially owned, directly or indirectly, or
      controlled or directed, by the Securityholder as of the date hereof. Other
      than the securities set forth in Schedule A, neither the Securityholder
      nor any of his, her or its affiliates beneficially owns, directly or
      indirectly, or exercises control or direction over, or has any agreement
      or option, or right or privilege (whether by Law, pre-emptive or
      contractual) capable of becoming an agreement or option, for the purchase
      or acquisition by the Securityholder or any of his, her or its affiliates
      or transfer to the Securityholder or any of his, her or its affiliates of
      any additional securities of Sunward or any of its
  affiliates;</P></TD></TR></TABLE>
<P align=right>3 </P>
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noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>the Securityholder is, and will continue to be from the
      date hereof (or in the case of any Subject Securities acquired after the
      date hereof, from the date of each such acquisition) through to the Expiry
      Time, the sole beneficial owner of the Subject Securities, with good and
      marketable title thereto, free and clear of all Liens (other than (i) any
      restrictions on transfer imposed by applicable Securities Laws and (ii) as
      provided under this Agreement);</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>to the extent permitted by the attributes of the Subject
      Securities or pursuant to applicable Laws, regulation or policy, the
      Securityholder has the sole right to dispose of and vote, or direct the
      disposal and voting of, the Subject Securities;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(e) </TD>
    <TD>
      <P align=justify>no Person has any agreement or option, or any right or
      privilege (whether by Laws, pre- emptive or contractual) capable of
      becoming an agreement or option, providing for the purchase, acquisition
      or transfer of any of the Subject Securities or any interest therein or
      right thereto, except the Purchaser pursuant to the Arrangement
      Agreement;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(f) </TD>
    <TD>
      <P align=justify>none of the Subject Securities is subject to any proxy,
      voting trust, vote pooling or other agreement with respect to the right to
      vote, call meetings of any of Sunward&#146;s securityholders or give consents
      or approvals of any kind;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(g) </TD>
    <TD>
      <P align=justify>none of the execution and delivery by the Securityholder
      of this Agreement or the completion of the transactions contemplated
      hereby or the compliance by the Securityholder with the Securityholder&#146;s
      obligations hereunder will violate, contravene, result in any breach of,
      or be in conflict with, or constitute a default under, or create a state
      of facts which after notice or lapse of time or both would constitute a
      default under, any term or provision of: (i) if the Securityholder is not
      an individual, any constating or governing documents or resolutions of the
      Securityholder; (ii) any Contract to which the Securityholder is a party
      or by which the Securityholder or any of the property or assets of the
      Securityholder are bound; (iii) any judgment, decree, order or award of
      any Governmental Entity; or (iv) subject to compliance with any approval
      or Laws contemplated by the Arrangement Agreement, any applicable Laws; in
      each case, other than as would not reasonably be expected to materially
      impair the ability of the Securityholder to perform its obligations
      hereunder.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(h) </TD>
    <TD>
      <P align=justify>no consent, waiver, approval, authorization, order,
      exemption, registration, licence or declaration of or by, or filing with,
      or notification to any Governmental Entity or other third party which has
      not been made or obtained is required to be made or obtained by the
      Securityholder or any of his, her or its affiliates in connection with the
      execution and delivery by the Securityholder and enforcement against the
      Securityholder of this Agreement or the consummation of any transactions
      provided for herein other than where the failure to obtain such consents,
      waivers, approvals, authorizations, orders, exemptions, registrations,
      licences or declarations, or to make such filings or notifications, would
      not materially impair the ability of the Securityholder to perform its
      oblitations hereunder (and provided that the Securityholder makes no
      representations or warranties with respect to the consents, waivers,
      approvals, authorizations, orders, exemptions, registrations, licences or
      declarations of or by, or filings with, or notices to any Governmental
      Entities or other third parties on the part of Sunward, the Purchaser or
      any other Person necessary for the consummation of the transactions
      contemplated by the Arrangement Agreement); and</P></TD></TR></TABLE>
<P align=right>4 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_5></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>there is no private or governmental action, suit, claim,
      arbitration, investigation or other proceeding in progress or pending
      before any Governmental Entity, or, to the knowledge of the
      Securityholder, threatened against the Securityholder or any of his, her
      or its affiliates or, if applicable, any of their respective directors or
      officers (in their capacities as such) that, individually or in the
      aggregate, could materially adversely affect the Securityholder&#146;s ability
      to enter into this Agreement or perform his, her or its obligations
      hereunder or the title of the Securityholder to any of the Subject
      Securities. There is no judgment, decree or order against the
      Securityholder or any of his, her or its affiliates or, if applicable, any
      of their directors or officers (in their capacities as such) that could
      materially prevent, enjoin, alter, delay or adversely affect the ability
      of the Securityholder to enter into this Agreement, to perform his, her or
      its obligations under this Agreement or the title of the Securityholder to
      any of the Subject Securities;</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>2.2</B> </TD>
    <TD>
      <P align=justify><B>Representations and Warranties of the
    Purchaser</B></P></TD></TR></TABLE>
<P align=justify>The Purchaser represents and warrants to the Securityholder
(and acknowledges that the Securityholder is relying on these representations
and warranties in completing the transactions contemplated hereby) the matters
set out below: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>the Purchaser is a corporation duly incorporated and
      validly existing under the laws of the Province of British Columbia and
      has all necessary corporate power, authority and capacity to enter into
      this Agreement and to carry out its obligations under this Agreement. The
      execution and delivery of this Agreement and the consummation of the
      transactions contemplated by this Agreement have been duly authorized by
      all necessary corporate action on the part of the Purchaser. This
      Agreement has been duly executed and delivered by the Purchaser and
      constitutes a legal, valid and binding obligation of the Purchaser,
      enforceable against the Purchaser in accordance with its terms, subject to
      the qualification that such enforceability may be limited by bankruptcy,
      insolvency, reorganization or other applicable Laws relating to or
      affecting rights of creditors generally and subject to the qualification
      that equitable remedies, including specific performance, are
      discretionary; and</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>except as would not materially hinder, delay or impede
      the consummation of the transaction contemplated by this Agreement and the
      Arrangement Agreement, none of the execution and delivery by the Purchaser
      of this Agreement or the completion of the transactions contemplated
      hereby or the compliance by the Purchaser with the Purchaser&#146;s obligations
      hereunder will violate, contravene, result in any breach of, or be in
      conflict with, or constitute a default under, or create a state of facts
      which after notice or lapse of time or both would constitute a default
      under, any term or provision of: (i) any constating or governing documents
      or resolutions of the Purchaser; (ii) any Contract to which the Purchaser
      is a party or by which the Purchaser or any of the property or assets of
      the Purchaser are bound; (iii) any judgment, decree, order or award of any
      Governmental Entity; or (iv) any applicable Laws;</P></TD></TR></TABLE>
<P align=right>5 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_6></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>there is no private or governmental action, suit, claim,
      arbitration, investigation or other proceeding in progress or pending
      before any Governmental Entity, or, to the knowledge of the Purchaser,
      threatened against the Purchaser or any of its affiliates or any of their
      respective directors or officers (in their capacities as such) that,
      individually or in the aggregate, could impair the Purchaser&#146;s ability to
      enter into this Agreement or perform its obligations under this Agreement.
      There is no judgment, decree or order against the Purchaser or any of its
      affiliates or any of their directors or officers (in their capacities as
      such) that could prevent, enjoin, alter, delay or adversely affect the
      ability of the Purchaser to enter into this Agreement or to perform its
      obligations under this Agreement.</P></TD></TR></TABLE>
<P align=center><B>ARTICLE 3 <BR>COVENANTS </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>3.1</B> </TD>
    <TD>
      <P align=justify><B>Covenants of the
Securityholder</B></P></TD></TR></TABLE>
<P align=justify>The Securityholder hereby irrevocably covenants and agrees as
follows: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>from the date of this Agreement until the termination of
      this Agreement in accordance with its terms (the &#147;<B>Expiry Time</B>&#148;),
      the Securityholder shall not (A) sell, transfer, gift, assign, convey,
      pledge, hypothecate, encumber, grant any option with respect to, grant a
      security interest in or otherwise dispose of any right or interest in
      (including by way of deposit or tender under any take-over bid) (any such
      event, a &#147;<B>Transfer</B>&#148;) any of the Subject Securities, other than the
      exercise, exchange, vesting or conversion of Sunward Options or Sunward
      DSUs in accordance with their terms for Sunward Shares, which Sunward
      Shares will become Subject Securities hereunder, or enter into any
      agreement, arrangement or understanding in connection therewith (whether
      by actual disposition or effective economic disposition due to cash
      settlement or otherwise), other than pursuant to the Arrangement, without
      having first obtained the prior written consent of the Purchaser, or (B)
      other than as set forth herein, grant any proxies or powers of attorney
      with respect to any Subject Securities, deposit any Subject Securities
      into a voting trust, in any way transfer any of the voting rights
      associated with any of the Subject Securities, or enter into a voting
      agreement, understanding or arrangement with respect to the right to vote,
      call meetings of Sunward Shareholders or give consents or approvals of any
      kind with respect to any Subject Securities. In furtherance of this
      Agreement, the Securityholder hereby authorizes the Purchaser, Sunward or
      their respective legal counsel to notify Sunward&#146;s transfer agent that
      there is a stop transfer order with respect to all of the Subject
      Securities (and that this Agreement places limits on the voting and
      transfer of such Subject Securities, as applicable), provided that if any
      such action involves costs to the Securityholder, those costs shall be
      paid or reimbursed by the Purchaser. The Parties agree that such stop
      transfer order shall be removed and shall be of no further force and
      effect upon the termination of this Agreement in accordance with Section
      4.1;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>from time to time, until the Expiry Time, to vote (or
      cause to be voted) all the Subject Shares at any meeting of any of the
      securityholders of Sunward at which the Securityholder is entitled to
      vote, including without limitation the Sunward Meeting, and in any action
      by written consent of the securityholders of
Sunward:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>in favour of the approval, consent, ratification and
      adoption of the Arrangement Resolution and the transactions contemplated
      by the Arrangement Agreement (and any actions required for the
      consummation of the transactions contemplated by the Arrangement
      Agreement); and</P></TD></TR></TABLE>
<P align=right>6 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_7></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>other than the Arrangement, against (A) any extraordinary
      corporate transaction, including any merger, reorganization,
      consolidation, amalgamation, arrangement, business combination, share
      exchange, liquidation, dissolution, recapitalization, or similar
      transaction involving Sunward or any of its subsidiaries; (B) any sale,
      lease or transfer of any significant part of the assets of Sunward or any
      of its subsidiaries; (C) any Acquisition Proposal involving Sunward or any
      of its subsidiaries; (D) any material change in the capitalization of
      Sunward or any of its subsidiaries or the corporate structure or
      constating documents of Sunward or any of its subsidiaries; (E) any action
      that would reasonably be expected to materially impede, delay, interfere
      with, or discourage the transactions contemplated by the Arrangement
      Agreement; and (F) any action or agreement that would result in a breach
      of any covenant, representation or warranty or any other obligation or
      agreement of Sunward under the Arrangement
Agreement;</P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 10%" align=justify>in connection with the foregoing,
subject to this Section 3.1(b), the Securityholder shall deposit an irrevocable
proxy, duly completed and executed in respect of all of the Subject Shares at
least five (5) business days prior to the Sunward Meeting, voting all such
Subject Shares in favour of the Arrangement Resolution and otherwise in the
manner described in this Section 3.1(b) . Neither the Securityholder nor any
Person acting on his, her or its behalf will take any action to withdraw, amend
or invalidate any proxy deposited by the Securityholder pursuant to this
Agreement, notwithstanding any statutory or other rights which the
Securityholder might have unless this Agreement is terminated in accordance with
Section 4.1; </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>until the Expiry Time, to not, without the prior written
      consent of the Purchaser, requisition or join in the requisition of any
      meeting of any of the securityholders of Sunward for the purpose of
      considering any resolution;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>from time to time, until the Expiry Time, when any
      meeting of Sunward securityholders is held, to appear at such meeting or
      otherwise cause the applicable Subject Securities to be counted as present
      thereat for the purpose of establishing a quorum;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(e) </TD>
    <TD>
      <P align=justify>until the Expiry Time, neither the Securityholder nor any
      of his, her or its Representatives will, directly or indirectly: (A)
      solicit, initiate, encourage or otherwise facilitate (including by way of
      entering into any agreement, arrangement or understanding) inquiries,
      submissions of proposals or offers from, or provide information to, any
      other Person, entity or group (other than the Purchaser) relating to any
      Acquisition Proposal or potential Acquisition Proposal, (B) participate in
      any discussions or negotiations regarding any Acquisition Proposal, or (C)
      accept, enter into or endorse, or publicly propose to accept or enter
      into, any letter of intent, agreement, arrangement or understanding
      related to any Acquisition Proposal. Nothing in this Section 3.1(e) shall
      prevent any shareholder, director or officer of the Securityholder, if
      applicable, who is also a director or officer of Sunward from fulfilling
      his or her fiduciary obligations, provided that such act or thing is
      permitted by and is done in strict compliance with the terms of the
      Arrangement Agreement;</P></TD></TR></TABLE>
<P align=right>7 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_8></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(f) </TD>
    <TD>
      <P align=justify>to:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>immediately cease and cause to be terminated any and all
      solicitations, encouragements, existing discussions and negotiations, if
      any, with any Person or group or any agent or representative of such
      Person or group with respect to any Acquisition Proposal or potential
      Acquisition Proposal; and</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>immediately (and in any event within 48 hours following
      receipt) notify the Purchaser of any Acquisition Proposal or inquiry in
      respect of a potential Acquisition Proposal of which the Securityholder
      or, to the knowledge of the Securityholder, any of the shareholders,
      directors or officers of the Securityholder, if applicable, becomes aware.
      Such notification shall be made orally and in writing and shall include,
      to the extent known to the Securityholder, the identity of the Person
      making such Acquisition Proposal or inquiry and a description of the
      material terms and conditions thereof, together with a copy of all
      documentation relating to such Acquisition Proposal or inquiry; provided
      however that such notification shall not be required if Sunward has
      already notified the Purchaser in the manner contemplated by the
      Arrangement Agreement;</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(g) </TD>
    <TD>
      <P align=justify>to waive any rights of appraisal or rights of dissent
      that the Securityholder may have arising from the transactions
      contemplated by the Arrangement Agreement;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(h) </TD>
    <TD>
      <P align=justify>until the Expiry Time, to not make any statements which
      would reasonably be construed as being against the transactions
      contemplated by the Arrangement Agreement or any aspect thereof and to not
      bring, or threaten to bring, any suit or proceeding for the purpose of, or
      which has the effect of, directly or indirectly, stopping, preventing,
      impeding, delaying or varying such transactions or any aspect
    thereof;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>to promptly notify the Purchaser of any acquisitions by
      the Securityholder or any of his, her or its affiliates of any securities
      of Sunward, if any, after the date hereof, which, for greater certainty,
      shall include any Sunward Options and Sunward DSUs and any Sunward Shares
      issuable upon the exercise, conversion or vesting, as applicable, of any
      Sunward Options or Sunward DSUs, owned or controlled by the Securityholder
      which may be exercised, converted into or exchanged for Sunward Shares.
      Any such securities shall be subject to the terms of this Agreement as
      though they were Subject Securities owned by the Securityholder on the
      date hereof;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(j) </TD>
    <TD>
      <P align=justify>until the Expiry Time, not to (i) exercise any
      securityholder rights or remedies available at common law or pursuant to
      applicable securities legislation; or (ii) take any other action of any
      kind, in each case which might reasonably be regarded as likely to reduce
      the success of, or delay or interfere with the completion of, the
      transactions contemplated by the Arrangement Agreement;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(k) </TD>
    <TD>
      <P align=justify>the Securityholder hereby consents
to:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>details of this Agreement being set out in any
      information circular and court documents produced by Sunward, the
      Purchaser or any of their respective affiliates in connection with the
      transactions contemplated by this Agreement and the Arrangement Agreement;
      and</P></TD></TR></TABLE>
<P align=right>8 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_9></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>this Agreement being made publicly available, including
      by filing on SEDAR;</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(l) </TD>
    <TD>
      <P align=justify>except as required by applicable Law or applicable stock
      exchange requirements, not to make any public announcement or statement
      with respect to the transactions contemplated herein or pursuant to the
      Arrangement Agreement without the prior written approval of the Purchaser
      and, in the case any such public announcement or statement is required by
      applicable Law or applicable stock exchange requirements, to consult with
      the Purchaser and provide the Purchaser a reasonable opportunity to review
      and comment on any such public announcement or statement, and give
      reasonable consideration to any comments made by the Purchaser and its
      legal counsel; and</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(m) </TD>
    <TD>
      <P align=justify>other than pursuant to and in compliance with Section 7.2
      of the Arrangement Agreement, to not enter into any agreement or
      understanding or make any commitment with any Person that would violate
      any provision or agreement contained in this
Agreement.</P></TD></TR></TABLE>
<P align=center><B>ARTICLE 4 <BR>GENERAL </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.1</B> </TD>
    <TD>
      <P align=justify><B>Termination</B></P></TD></TR></TABLE>
<P align=justify>This Agreement shall terminate and be of no further force or
effect upon the earliest of:</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>the written agreement of the Purchaser and the
      Securityholder;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>the termination of the Arrangement Agreement in
      accordance with its terms;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>written notice by the Securityholder if the Purchaser,
      without the prior written consent of the Securityholder, decreases the
      amount of Consideration as set out in the Arrangement Agreement (provided
      that a decrease in the market price of the Consideration Shares will not
      constitute a decrease in the amount of Consideration);</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>the Effective Date; or</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(e) </TD>
    <TD>
      <P align=justify>the Outside Date.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.2</B> </TD>
    <TD>
      <P align=justify><B>Effect of Termination</B></P></TD></TR></TABLE>
<P align=justify>If this Agreement is terminated in accordance with this Article
4, the provisions of this Agreement will become void and no Party shall have
liability to any other Party, except in respect of a breach of this Agreement
which occurred prior to such termination and, without limiation, the
Securityholder shall be entitled to withdraw any proxy which it has given with
respect to the Subject Securities. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.3</B> </TD>
    <TD>
      <P align=justify><B>Time of the Essence</B></P></TD></TR></TABLE>
<P align=justify>Time shall be of the essence in this Agreement. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.4</B> </TD>
    <TD>
      <P align=justify><B>Equitable Relief</B></P></TD></TR></TABLE>
<P align=justify>The Parties agree that irreparable harm will occur for which
money damages will not be an adequate remedy at Law in the event that any of the
provisions of this Agreement are not performed by a Party or any of its
affiliates in accordance with their terms or are otherwise breached. It is
accordingly agreed that any aggrieved Party shall be entitled to seek an
injunction or injunctions and other equitable relief to prevent breaches or
threatened breaches of the provisions of this Agreement by the other Party or
any of its affiliates and shall be entitled to obtain specific performance by
the other Party or any of its affiliates of any such provisions. The Parties
hereby agree not to seek the posting of any security bond or other assurance in
respect of such injunctive or other equitable relief. Such remedies will not be
the exclusive remedies for any breach of this Agreement and will be in addition
to all other remedies available at Law or equity. </P>
<P align=right>9 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_10></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.5</B> </TD>
    <TD>
      <P align=justify><B>Fiduciary Duties</B></P></TD></TR></TABLE>
<P align=justify>The Purchaser hereby agrees that the Securityholder is not
making any agreement or understanding herein in any capacity other than in his,
her or its capacity as securityholder of Sunward. Nothing herein shall in any
way limit any actions that the Securityholder or any of its employees, partners,
managers or directors may take that are, upon the advice of counsel, necessary
to discharge such Person&#146;s fiduciary duties as a director of Sunward.</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.6</B> </TD>
    <TD>
      <P align=justify><B>Waiver; Amendment</B></P></TD></TR></TABLE>
<P align=justify>Each Party agrees and confirms that any provision of this
Agreement may be amended or waived if, and only if, such amendment or waiver is
in writing and signed, in the case of an amendment, by the Securityholder and
the Purchaser or in the case of a waiver, by the Party against whom the waiver
is to be effective and no failure or delay by any Party in exercising any right,
power or privilege hereunder shall operate as a waiver thereof nor shall any
single or partial exercise thereof preclude any other or further exercise. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.7</B> </TD>
    <TD>
      <P align=justify><B>Entire Agreement</B></P></TD></TR></TABLE>
<P align=justify>This Agreement constitutes the entire agreement among the
Parties with respect to the subject matter hereof and supersedes all prior
agreements and understandings among the Parties with respect thereto. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.8</B> </TD>
    <TD>
      <P align=justify><B>Notices</B></P></TD></TR></TABLE>
<P align=justify>Any notice, consent, approval or other communication required
or permitted to be given in connection with this Agreement (in this Section
referred to as a &#147;<B>Notice</B>&#148;) shall be in writing and shall be sufficiently
given if delivered (whether in person, by courier service or other personal
method of delivery), or if transmitted by facsimile or e-mail: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left>(a) </TD>
    <TD align=left width="90%" colSpan=2>if to the Purchaser: </TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp; </TD>
    <TD width="90%" colSpan=2>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="90%" colSpan=2>NovaCopper Inc. </TD></TR>
  <TR vAlign=bottom>
    <TD width="5%">&nbsp;</TD>
    <TD align=center>&nbsp;</TD>
    <TD align=center width="90%" colSpan=2>
      <P align=justify>Suite 1950 - 777 Dunsmuir Street </P></TD></TR>
  <TR vAlign=top>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="90%" colSpan=2>Vancouver, BC V7Y 1K4 </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%"  colSpan=2>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="8%">Attention: </TD>
    <TD align=left width="82%">Chief Executive Officer </TD></TR>
  <TR vAlign=top>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="8%">Facsimile: </TD>
    <TD align=left width="82%">604-638-8088 </TD></TR></TABLE>
<P align=right>10 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_11></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="90%" colSpan=2>with a copy (which shall not
      constitute notice) to: </TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="90%" colSpan=2>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="90%" colSpan=2>Blake, Cassels &amp; Graydon LLP
  </TD></TR>
  <TR vAlign=top>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="90%" colSpan=2>595 Burrard Street, Suite 2600 </TD></TR>
  <TR vAlign=top>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="90%" colSpan=2>P.O. Box 49314, Three Bentall Centre
    </TD></TR>
  <TR vAlign=top>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="90%" colSpan=2>Vancouver, BC V7X 1L3 </TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="90%" colSpan=2>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="8%">Attention: </TD>
    <TD align=left width="82%">Trisha Robertson </TD></TR>
  <TR vAlign=top>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="8%">Facsimile: </TD>
    <TD align=left width="82%">604-631-3309 </TD></TR>
  <TR vAlign=top>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="8%">Email: </TD>
    <TD align=left width="82%">trisha.robertson@blakes.com </TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="8%">&nbsp;</TD>
    <TD align=left width="82%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>(b) </TD>
    <TD align=left width="90%" colSpan=2>if to the Securityholder: </TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="90%" colSpan=2>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="90%" colSpan=2>Paulson &amp; Co. Inc. </TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="90%" colSpan=2>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="90%" colSpan=2>1251 Avenue of the Americas </TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="90%" colSpan=2>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="90%" colSpan=2>New York, NY 10020 </TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="90%" colSpan=2>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp; </TD>
    <TD width="8%">&nbsp; </TD>
    <TD width="82%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="8%">Attention: </TD>
    <TD align=left width="82%">Victor Flores </TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="8%">&nbsp;</TD>
    <TD align=left width="82%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="8%">Facsimile: </TD>
    <TD align=left width="82%">212-977-9505 </TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="8%">&nbsp;</TD>
    <TD align=left width="82%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="8%">Email: </TD>
    <TD align=left width="82%">victor.flores@paulsonco.com
</TD></TR></TABLE>
<P align=justify>Any Notice delivered or transmitted to a Party as provided
above shall be deemed to have been given and received on the day it is delivered
or transmitted, provided that it is delivered or transmitted on a Business Day
prior to 5:00 p.m. local time in the place of delivery or receipt. If the Notice
is delivered or transmitted after 5:00 p.m. local time or if the day is not a
Business Day, then the Notice shall be deemed to have been given and received on
the next Business Day. </P>
<P align=justify>Either Party may, from time to time, change its address by
giving Notice to the other Party in accordance with the provisions of this
Section 4.8. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.9</B> </TD>
    <TD>
      <P align=justify><B>Severability</B></P></TD></TR></TABLE>
<P align=justify>If any term or other provision of this Agreement is invalid,
illegal or incapable of being enforced by any rule or Law or public policy, all
other conditions and provisions of this Agreement shall nevertheless remain in
full force and effect so long as the economic or legal substance of the
transactions contemplated hereby is not affected in any manner materially
adverse to any Party. Upon such determination that any term or other provision
is invalid, illegal or incapable of being enforced, the Parties shall negotiate
in good faith to modify this Agreement so as to effect the original intent of
the Parties as closely as possible in an acceptable manner to the end that the
transactions contemplated hereby are fulfilled to the fullest extent possible.
</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.10</B> </TD>
    <TD>
      <P align=justify><B>Successors and Assigns</B></P></TD></TR></TABLE>
<P align=justify>The provisions of this Agreement shall be binding upon and
enure to the benefit of the Parties and their respective successors, permitted
assigns and personal representatives, provided that no Party may assign,
delegate or otherwise transfer any of its rights, interests or obligations under
this Agreement without the prior written consent of the other Party hereto,
except that the Purchaser may assign, delegate or otherwise transfer any of its
rights, interests or obligations under this Agreement to any of its affiliates
without reducing its own obligations hereunder without the consent of the
Securityholder. </P>
<P align=right>11 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_12></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.11</B> </TD>
    <TD>
      <P align=justify><B>Expenses</B></P></TD></TR></TABLE>
<P align=justify>Each Party shall pay all costs and expenses (including the fees
and disbursements of legal counsel and other advisers) it incurs in connection
with the negotiation, preparation and execution of this Agreement and the
transactions contemplated by this Agreement. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.12</B> </TD>
    <TD>
      <P align=justify><B>Independent Legal Advice</B></P></TD></TR></TABLE>
<P align=justify>Each of the Parties hereby acknowledges that it has been
afforded the opportunity to obtain independent legal advice and confirms by the
execution of this Agreement that it has either done so or waived its right to do
so in connection with the entering into of this Agreement. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.13</B> </TD>
    <TD>
      <P align=justify><B>Further Assurances</B></P></TD></TR></TABLE>
<P align=justify>The Parties shall, with reasonable diligence, do all things and
provide all such reasonable assurances as may be required to consummate the
transactions contemplated by this Agreement, and each Party shall provide such
further documents or instruments required by the other Party as may be
reasonably necessary or desirable to effect the purpose of this Agreement and
carry out its provisions, whether before or after the Effective Time. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.14</B> </TD>
    <TD>
      <P align=justify><B>Rules of Construction</B></P></TD></TR></TABLE>
<P align=justify>The Parties have participated jointly in negotiating and
drafting this Agreement. If an ambiguity or a question of intent or
interpretation arises, this Agreement shall be construed as if drafted jointly
by the Parties, and no presumption or burden of proof shall arise favouring or
disfavouring any Party by virtue of the authorship of any provision of this
Agreement. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.15</B> </TD>
    <TD>
      <P align=justify><B>No Third Party
Beneficiaries</B></P></TD></TR></TABLE>
<P align=justify>The Parties hereby agree that their respective representations,
warranties, covenants and agreements set forth herein are solely for the benefit
of the other Party hereto, in accordance with and subject to the terms of this
Agreement, and this Agreement is not intended to, and does not, confer upon any
Person other than the parties hereto any rights or remedies hereunder, including
the right to rely upon the representations and warranties set forth herein. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>4.16</B> </TD>
    <TD>
      <P align=justify><B>Execution and Delivery</B></P></TD></TR></TABLE>
<P align=justify>This Agreement may be executed by the Parties in counterparts
and may be executed and delivered by facsimile and all the counterparts and
facsimiles together constitute one and the same agreement. </P>
<P align=center>[<I>Remainder of page intentionally left blank</I>] </P>
<P align=right>12 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_13></A>
<P align=justify><B>IN WITNESS WHEREOF</B> the Parties have executed this
Agreement. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%"><B>PAULSON &amp; CO. INC. on behalf of</B>
      <B>the</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%"><B>funds and accounts managed by it</B> </TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="50%">&nbsp; </TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="50%">&nbsp; </TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="50%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="50%">&nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<I>/s/ Stuart Merzer</I> </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp;Name: Stuart Merzer </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp;Title: Authorized Signatory </TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="50%">&nbsp; </TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="50%">&nbsp; </TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="50%">&nbsp; </TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="50%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%"><B>NOVACOPPER INC.</B> </TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="50%">&nbsp; </TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="50%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="50%">By:
      <I>/s/ Elaine Sanders</I> </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp;Name: Elaine Sanders </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp;Title: VP &amp; Chief Financial Officer
  </TD></TR></TABLE>
<P align=right>13 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_14></A>
<P align=center><B>SCHEDULE</B><B> &#147;A&#148; </B></P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="100%" border=1>

  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=center rowSpan=2
    ><B>Registered Owner</B> <BR></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=center width="25%"
    rowSpan=2 ><B>Beneficial Owner</B> <BR></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=center width="17%"
    rowSpan=2><B>Sunward Options</B> <BR></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=center width="17%"
    rowSpan=2><B>Sunward DSUs</B> <BR></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=center width="17%"
    rowSpan=2><B>Sunward Shares</B> <BR></TD></TR>
  <TR></TR>
  <TR vAlign=top>
    <TD align=left rowSpan=9 >Funds and accounts <BR>managed by
      the <BR>Securityholder </TD>
    <TD align=left width="25%" rowSpan=9 >Funds and accounts
      <BR>managed by the <BR>Securityholder </TD>
    <TD align=left width="17%" rowSpan=9><BR><BR></TD>
    <TD align=left width="17%" rowSpan=9><BR><BR></TD>
    <TD align=left width="17%" rowSpan=9>10,200,000 <BR><BR></TD></TR>
  <TR vAlign=top>&nbsp;</TR>
  <TR vAlign=top>&nbsp;</TR>
</TABLE>
</DIV><BR>
<HR align=center width="100%" color=black noShade SIZE=5>

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</DOCUMENT>
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