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Idarado Mining Company <br />311 Main Street <br />P.O. Box 584 <br />Ouray Colorado 81427 <br />June 23, 2015 <br />State of Colorado <br />Division of Reclamation Mining and Safety <br />1313 Sherman Street, Room 215 <br />Denver CO 80203 <br />Subject: Idarado Mining Company <br />2014/2015 Annual Report Submittal <br />Permit No. M1977 -403 -HR <br />Enclosed please find Idarado Mining Company's 2014/2015 Annual Report and the annual permit fee <br />payment of one -thousand, one -hundred and fifty dollars ($1,150). This report addresses operational <br />mining, beneficiation and site reclamation status for the Telluride and Red Mountain mine operations. <br />Should you have any questions, please contact me at your convenience. <br />Respectfully, <br />ID O G COMPANY <br />Lawrence Fiske <br />Director Legacy Sites Closure and Reclamation <br />303-837-5676 <br />cc: Julio Madrid (e) <br />Mark Parker (e) <br />Alfred Berry (e) <br />Denise Kennedy (e) <br />Sherm Worthington (e) <br />Tim Runnells (e) <br />