Convertible Promissory Note dated September 12, 2006 between Canyon Copper Corp. and Aton Ventures Fund Ltd

CONVERTIBLE PROMISSORY NOTE

FOR VALUE RECEIVED the Borrower hereby promises to pay to or to the order of the Lender on December 12, 2006, 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 his option, at any time prior to December 12, 2006, convert all or any portion of the Principal Sum into common shares of the Borrower at a conversion rate of $0.30 per share.

The Borrower waives presentment, demand, notice, protest and notice of dishonour and all other demands and notices in connection with the delivery, acceptance, performance, default or enforcement of this Promissory Note.

The Borrower agrees this Promissory Note may be negotiated, assigned, discounted, or pledged by the Lender and in every case payment will be made to the holder of this Promissory Note instead of the Lender upon notice being given by the holder to the undersigned, and no holder of this Promissory Note will be affected by the state of accounts between the undersigned and the Lender or by any equities existing between the undersigned and the Lender and will be deemed to be a holder in due course and for the value of the Promissory Note held by him.

DATED at Vancouver, BC this 12th day of September, 2006.

CANYON COPPER CORP.
by its authorized signatory:

/s/ Anthony Harvey

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