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; COLORADO <br /> Division of Reclamation, <br /> Mining and Safety <br /> Depa*trr,ent of^i:Ural R9bvtr_. <br /> 1313 Sherman Street, Room 215 <br /> Denver, CO 80203 <br /> LrSeptember 12, 2016 <br /> Kevin Cassidy <br /> Seaglass Holding Corp. dba US Rare Earths <br /> 5600 Tennyson Pkwy., Suite 240 <br /> Plano, TX 75024 <br /> RE: Cash Bond #011722 <br /> Seaglass Holding Corp. dba US Rare Earths G� <br /> Powderhorn Project Exploration Drilling Program, Permit#P-2011-024 <br /> Notice of Formal Board Hearing for Forfeiture of Financial Warranty Lk1�!!2r_ <br /> Dear Mr. Cassidy: <br /> Your company holds the above-referenced Certificate of Deposit. On August 18, 2016, the Colorado <br /> Mined Land Reclamation Board (Board) found this Financial Warranty is subject to forfeiture and <br /> ordered you to gain compliance by August 29, 2016. As of the date of this letter, we have not received <br /> your 2015 Annual Fee, 2015 Annual Report, and 2015 Annual Map. Therefore, pursuant to C.R.S. <br /> 34-32.5-124, you have failed to comply with a Board Order. Also, pursuant to C.R.S. 34-32-118(2), the <br /> Board is required to notify all Financial Warrantors when the Financial Warranty is subject to forfeiture. <br /> The pertinent information for the Certificate of Deposit is: <br /> Applicant: Seaglass Holding Corp. dba US Rare Earths <br /> Cash Bond: 011722 <br /> Treasure Receipt number: 21686 <br /> Amount: $8,225.00 <br /> Date of Issuance: October 4, 2011 <br /> A Formal Public Hearing will be held for this matter during the October 26-27, 2016 Board meeting. <br /> During the Hearing, the Board will consider confirming its determination that the Financial Warranty <br /> should be forfeited. Upon finding that the Financial Warrantor should be forfeited, the Board will issue <br /> an order directing affected financial warrantors to immediately deliver to the Board all amounts <br /> warranted by applicable financial warranties. The Hearing will be held in Room 318 of 1313 Sherman <br /> Street, Denver, Colorado, beginning and 9:00 a.m. on October 26, 2016 or as soon thereafter as the <br /> matter can be considered. You are welcome to attend the Hearing. <br /> of COtp <br /> I y . 4 _•' to I <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. Hickenlooper, Governor I Robert W Randall, Executive Director Virginia Brannon, Director <br /> \1876,., <br />