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AW <br />1COLORADO <br />Invision of Reclamation, <br />AV Mining and Safety <br />Department of Natural Resource <br />1313 Sherman Street, Room 215 <br />Denver, CO 80203 <br />November 26, 2014 <br />Dianna Stoopnikoff <br />Fortune Revenue Silver Mines, Inc. <br />1900 Main St., Unit 564 <br />Ouray, CO 81427 <br />Re: Updated Bond Calculations for Liberty Mine Prospect NOI, File No. P-2007-058 <br />Dear Ms. Stoopnikoff, <br />The Liberty Mine is an active prospecting NOI (file number as shown above) on land now <br />controlled by Fortune Revenue Silver Mines. The NOI has been operated by The Mining <br />Company, and prospecting activities have ended. <br />Application for this NOI was in 2007, when NOI files were considered confidential unless such <br />status was waived by the operator. In 2008 state statutes were enacted which allowed most N-01 <br />file documents to be considered non -confidential, and as a result, many of this file's documents <br />are not confidential. The file for this NOI contains a letter which specifies certain topics that are <br />to remain confidential, which essentially waives confidentiality for most areas of discussion. The <br />matters discussed in this letter, and contained within the enclosed packet, are not confidential and <br />therefore may be freely discussed between the Division and Fortune Revenue Silver Mines. <br />Fortune Revenue Silver Mines has expressed an interest in obtaining approval to conduct <br />activities at this site, however, unlike a mining permit, state regulations do not allow an NOI to be <br />transferred to another party. If both parties (The Mining Company and Fortune Revenue Silver <br />Mines) are in agreement, a new NOI may be submitted to the Division by Fortune Revenue Silver <br />Mines, whereby it would assume responsibility for outstanding prospecting disturbance which <br />occurred under that project, and The Mining Company may be released from further reclamation <br />liability. <br />In order for Fortune Revenue to assess whether it should pursue obtaining approval for operating <br />at this site, you have requested an updated reclamation cost estimate for the Liberty Mine <br />prospecting NOI. This office has performed a recalculation of the costs of the project's <br />disturbance, most of which has not been reclaimed. All of the NOI's disturbances have been <br />inspected by the Division during 2014, and this bond calculation is considered current. The <br />present operator has not performed any significant reclamation, and the Division found that there <br />was essentially very little that could be deleted from the original bond estimate in this updated <br />estimate. <br />1313 Sherman Street, Room 215, Denver, CO 80203 P 303.866.3567 F 303.832.8106 http://mining.state.co.us <br />John W. Hickentooper, Governor I Mike King, Executive Director i Virginia Brannon, Director <br />