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-4- <br /> If this Financial Warranty applies to lands under the jurisdiction of the State Board of Land Commissioners("Land <br /> Board"),and if this Financial Warranty,in whole or in part,is accepted by the Land Board as the bond required under its <br /> applicable law and procedures,then,the Operator having requested that the state accept this Financial Warranty in lieu of <br /> the separate bonds which would otherwise be required by the Colorado Mined Land Reclamation Board or Division of <br /> Reclamation,Mining and Safety and by the Land Board,hereby agrees that,notwithstanding any other provision hereof,or <br /> of law,this Financial Warranty shall remain in full force and effect until the Board is notified in writing by the Land Board <br /> that the Operator's obligations to the Land Board, for which this warranty is executed,have been satisfied and until its <br /> release is approved by the Board. <br /> If all or any part of the Affected Lands are under the jurisdiction of the Bureau of Land Management,United States <br /> Department of the Interior,("the BLM")and if at the request of the Operator on this Financial Warranty the BLM has, <br /> pursuant to 43 C.F.R.3809.1-9,accepted this Financial Warranty in lieu of requiring a separate reclamation bond payable <br /> to the United States,then,notwithstanding any other provision of this Financial Warranty,or of law,the Operator hereby <br /> agrees that this Financial Warranty shall not be released until the Board is advised in writing by the BLM that the <br /> Operator's obligations to the BLM,for which this warranty is executed,have been satisfied and until its release is approved <br /> by the Board. <br /> This Financial Warranty may be executed in multiple copies,each of which shall be treated as an original, but <br /> together they constitute only one agreement,the validity and interpretation of which shall be governed by the laws of the <br /> State of Colorado. <br /> The provisions hereof shall bind and inure to the benefit of the parties hereto and their. <br /> Signed and dated this 13th day of <br /> June 2011 Go�D�j�� <br /> O CORPORATE 1' <br /> Colorado Goldfields Inc. p SEAL 7 <br /> Operator V <br /> y�t`ADA <br /> By: <br /> tho ed Sign re <br /> C. Stephen Guyer <br /> Title: Chief Financial Officer <br /> NOTARIZATION OF OPERATOR'S ACKNOWLEDGEMENT <br /> STATE OF &taemea ) <br /> )ss. <br /> COUNTY OF "X%1KC— ) <br /> 4% PUB! <br /> The foregoing instrument was acknowledged before me this�day of T O:'-, ?1�\1-�6', <br /> by C. Stephen Guyer as Chief Financial Officer of Colorado ofd c-�. <br /> LOVE <br /> NOTA R U I t TE OF <br /> My Commission expires: 312G/ZO I fW0 *2015 <br /> —9 <br />