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�4Cd <br />South Xenia Street <br />rm potath Denver, Colorado 80237 <br />A subsidiary of Red Metal Limited [www.redmetal.com.au] Phone 303 -805 -2502 Fax 720 - 420 -6515 <br />Date 24 March 2014 V/ <br />Mr. Bob Oswald <br />E C e U <br />MAR G 4 2014 <br />Environmental Protection Specialist <br />Colorado Division of Reclamation, Mining, and Safety W (L AW <br />1313 Sherman Street, Room 215 <br />Denver, Colorado 80203 <br />Re: Colorado Potash Project, NOI P- 2011 -012, letter 17 March 2014 <br />Dear Mr. Oswald, <br />In reference to your letter of 17 March 2014, requesting that RM Potash either complete or <br />withdraw our NOI- 2011 -012 and drilling permit application of 19 May 2011, RM Potash has <br />decided to withdraw our application for a drilling permit at this time. We greatly appreciate <br />your patience in this matter; you, and your department, have been very accommodating with <br />the difficulties we have encountered in completing the NOI and application to your <br />satisfaction. We intend to continue to pursue the project and will re- initiate the NOI and <br />drilling permit application when we can complete the process in a more timely fashion. <br />RM Potash is waiting for the completion of a preliminary economic study on the project <br />currently being completed by Agapito Associated, Inc. of Grand Junction, Colorado, which is <br />expected to confirm the value of the project and the economic constraints on exploration and <br />eventual in situ extraction of potash and salt from the project. When Agapito's report is <br />completed RM Potash will resume planning for drilling in the project area. <br />Sincerely, <br />Jon P. Thorson <br />Manager, Colorado Potash Project <br />cc: Rob Rutherford, Red Metal, Sydney, Australia, by e -mail <br />James Blair, BLM, Dolores, by e -mail <br />' <br />o i- 1✓ d , <br />