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STATE OF COLORADO <br /> DIVISION OF RECLAMATION,MINING AND SAFETY <br /> Department of Natural Resources <br /> 1313 Sherman St.,Room 215 <br /> Denver,Colorado 80203 C O L O R A D O <br /> Phone:(303)866-3567 n t v t s t o N o f <br /> FAX:(303)832-8106 RECLAMATION <br /> MINING <br /> — &— <br /> SAFETY <br /> Bill Ritter,Jr. <br /> December 29, 2010 Ckmmor <br /> Mike King <br /> Preston L Niesen rxeoutive Director <br /> Golden Eagle Uranium LLC Loretta E.RWa <br /> 6767 S. Spruce Street, Suite 100 Director <br /> Centennial,Co 80112 <br /> RE: Notice of Intent to Conduct Prospecting Operations for DOE Lease WM-17,File No.P-2010-008; <br /> Financial Warranty Acceptance and Approval to Commence Prospecting <br /> Dear Mr.Niesen: <br /> The Division approved your Notice of Intent to Conduct Prospecting on June 7,2010. Our letter indicated that your <br /> notice was approved with the exception of an adequate financial warranty. On December 28,2010,the Division <br /> received and approved your One Site Prospecting Financial Warranty Check for Deposit in State Treasury No. 1035, in <br /> the amount of$100.00, for File No. P-2010-008. <br /> Therefore,final approval from the Division for your Notice of Intent to Conduct Prospecting at the DOE Lease <br /> WM-17 is hereby granted. However,the Division must have written verification of DOE acceptance of the <br /> remainder$5,000.00 bond and issuance of a permit or letter to proceed from the Federal government prior to <br /> commencement of operations. <br /> Also,in accordance with Rule 5.6, an Annual Report and associated fee of$86.00 must be submitted on your notice <br /> approval anniversary date for each year following the filing of an NOI until reclamation responsibility release is <br /> granted. In addition, Rule 5.3.4 requires the prospector to notify the Division of completion of prospecting operations <br /> and Rule 5.7 requires the submittal of a final report for drill holes within 60 days of completion of the abandonment <br /> for artesian flow holes and within one year of completion of the abandonment for any other drill holes. (Form <br /> enclosed and available on the DRMS website at http://mining.state.co.us) <br /> If you have any questions,please contact our office at(303)866-3567. <br /> Since elX' <br /> I <br /> E <br /> Jo Cramer <br /> Corporate Compliance/Bonding Specialist <br /> Cc: G. Russ Means, DRMS <br /> Ed Cotter, Stoller,DOE <br /> Enclosure: Abandonment Hole Report Form <br /> Office of Office of <br /> Mined Land Reclamation Denver • Grand Junction 9 Durango Active and Inactive Mines <br />