2015-04-14_REPORT - M1980244 (3)

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Mr. Tim Cazier April 9, 2015 Page 13 were applied by certified applicator to manage noxious weeds in and around the Cresson Project. Herbicide applications were used to 'manage populations of Canada thistle, musk thistle, yellow toadflax, Dalmatian toadflax and common mullein. Mixtures of herbicides were used to reduce the risk of developing herbicide resistant weed populations. The differing mixtures were formulated based on the species observed in these areas as well as herbicide application records from previous years. These herbicides are broadleaf selective and have a very low potential for injury to surrounding desirable, native grass species. A surfactant was included in the herbicide mixture to increase leaf adhesion and absorption. Additionally, blue marker dye was included in the mixture to track applications. l Per the Reclamation accomplished to date: Approximately 4i 7.3 acres Reclamation accomplished during the preceding year: Approximately 22.2 acres of disturbance associated with the Cresson Project were reclaimed in 2014 as described above. New disturbances anticipated during the upcoming year Continued development of the Main Cresson and East Cresson mine areas (including backfilling in the ECME, and development of the WHEX area), development of the East Cresson Overburden Storage Area ( "ECOSA "), development of the SGVLF and High Grade Mill, associated haul roads, sediment control measures, topsoil stockpiles, and other ancillary disturbances required to support these activities will continue in 2015. Reclamation anticipated during the upcoming yea ,: Approximately 10 to 20 acres of miscellaneous sites consisting of topsoil stockpiles, sediment ponds, and exploration disturbances are planned to be reclaimed this year. Reclamation /Closure Liability and Financial Warranty: As agreed upon by the Division and CC &V, CC &V will (provide an update to the Exhibit L reclamation cost data and additional "tabs" to address the reclamation costs associated with Technical Revisions approved by the Division after the approval of Amendment No. 10. CC &V agreed to provide the Division an update of Exhibit L as part of CC &V's Annual Report of the Cresson Project on a biannual basis. The first update was included in the Annual Report that was submitted on April 9, 2014 and subsequent updates will be submitted to the Division every two years after that until both CC &V and the Division agree it is no longer needed for the Cresson Project. An update of the reclamation cost estimate for Cresson Project Amendment No. 10 was completed in early 2014. The 2014 updated estimated liability amount is calculated to be $192,355,520. CC &V proposes to post a total of $194,000,000 in reclamation warranty, allowing a surplus of $1,644,480 at full build -out to be applied to future Technical Revisions.