CONVERTIBLE PROMISSORY NOTE DATED NOVEMBER 27, 2006

Convertible Promissory Note

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CANYON COPPER CORP. | Aton Ventures Fund Ltd

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Title: CONVERTIBLE PROMISSORY NOTE DATED NOVEMBER 27, 2006
Date: 12/13/2006

CONVERTIBLE PROMISSORY NOTE


EXECUTED BY:	Canyon Copper Corp. (the "Borrower")

IN FAVOUR OF:	Aton Ventures Fund Ltd. (the "Lender")

PRINCIPAL AMOUNT:	$250,000 (U.S.)

DATE OF EXECUTION:	September 12, 2006

PLACE OF EXECUTION:	Vancouver, BC, Canada

FOR VALUE RECEIVED the Borrower hereby promises to pay to or to the order of the Lender on April 12, 2007, the principal sum of $250,000 (U.S.), together with interest thereon at the rate of 8% per annum, both before and after maturity from the date hereof.

The Lender may at its option, at any time prior to April 12, 2007, convert all or any portion of the principal sum into that number of fully-paid and non-assessable shares of common stock of the Borrower (the “Conversion Shares”) as shall be equal to the principal sum at a conversion rate which shall be the lesser of $0.30 U.S. per share or the closing price of the Borrower’s shares on the Over-the-Counter Bul

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