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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 <br />Phone: (303) 866.3567 <br />FAX: (303) 832.8106 <br />June 10, 2011 <br />C. Stephen Guyer <br />Chief Financial Officer <br />Colorado Goldfields Inc. <br />7986 South Datura Circle West <br />Littleton, CO 80120 <br />RE: Financial Warranty, Kittimac Tailings Repository, N01 No. P-2011-015. <br />Dear Mr. Guyer: <br />COLORADO <br />D 1 V 1 S t O N O F <br />itECLAMAT I ON <br />MINING <br />SAFETY <br />John W. Hickenloo"r <br />Governor <br />Mike King <br />Executive Director <br />Loretta E. Piileda <br />Director <br />The above referenced Notice of intent to Conduct Prospecting was received by the Division on <br />June 3, 2011. Pursuant to Rule 5.1.3, the public comment period for P-2011-015 will close on <br />June 17, 2011, ten working days following the posting of the NOI on the Division's web site. <br />The Division is reviewing the NOI for deficiencies, which must be corrected prior to acceptance <br />of the NOI and commencement of the proposed activities. No bond was submitted with this <br />NOI, which is a deficiency. <br />The Division has completed a preliminary reclamation cost estimation totaling $298. Please <br />find enclosed four pages of summary and work sheets utilized by the Division to estimate the <br />cost of reclamation. Please submit an appropriately executed financial warranty in the amount <br />of $298. <br />Please contact me at the Division's office in Durango at 691 County Road 233, Suite A-2, <br />Durango, CO 81301, phone (970) 247-5469, if you have any questions. <br />Sincerely, -� <br />Wallace H. Erickson <br />Environmental Protection Specialist <br />Enclosure: DRMS reclamation cost estimation, dated 6/10/11 and totaling $298. <br />ec: Steve Shuey <br />Office of Office of <br />Mined land Reclamation Denver • Grand Junction • Durango Active and Inactive Mines <br />