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• <br /> 11 % <br /> cotter RECEIVED <br /> February 3, 2020 <br /> Mr. Russ Means fEE �4 202O <br /> Minerals Program Director DIVISION OFI 'O <br /> Colorado Division of Reclamation, Mining and Safety MIN ,AIy�y avEry�OIV <br /> 1313 Sherman Street, Room 215 <br /> Denver, Colorado 80203 <br /> Re: JD-6 Mine, Permit No. M-1977-310; JD-7 Mine, Permit No. M-1979-094HR; JD-8 Mine, Permit No. M-1984- <br /> 014; JD-9 Mine, Permit No. M-1977-306; SR-11 Mine, Permit No. M-1977-451; SR-13A Mine, Permit No. M- <br /> 1977-311; SM-18 Mine, Permit No. M-1978-116; LP-21 Mine, Permit No. M-1977-305; CM-25 Mine, Permit <br /> No. M-1977-307; and Mineral Joe Mine, Permit No. M-1977-284 <br /> Dear Mr. Means: <br /> This letter is written to advise that Cotter Corporation (N.S.L.) ("Cotter") is voluntarily placing each of the above- <br /> listed mines (collectively, "Mines") into reclamation under the Colorado Mined Land Reclamation Act, C.R.S. §§ <br /> 34-32-101 to -127, and its implementing rules, and is no longer seeking a second five-year period of temporary <br /> cessation for each Mine. <br /> This letter also confirms Cotter's understanding that the mining permit for each Mine will continue in effect <br /> through the completion of that Mine's reclamation and such time that the Colorado Mined Land Reclamation Board <br /> ("Board") releases Cotter or any successor operator from further reclamation obligations regarding the affected <br /> land, declares the operation terminated, and releases all applicable performance and financial warranties. C.R.S. §§ <br /> 34-32-103(6)(b), -109(5)(a); Hard Rock/Metal Mining Rule 1.13.8(1)(c). <br /> Further, this letter confirms our prior discussions that Highbury Resources Inc. ("Highbury") has purchased and <br /> acquired from Cotter the underlying rights and obligations associated with each of the Mines, including the <br /> obligation to reclaim them. As we previously discussed, Cotter will enter into new leases with the U.S. Department <br /> of Energy for the Mines (except for the Mineral Joe Mine, which is not a mine on a DOE lease), and will transfer <br /> those leases to Highbury. As you are also aware, Highbury has initiated the succession of operator process with the <br /> Division of Reclamation, Mining and Safety ("Division") to acquire Cotter's mining permits. The Division has <br /> indicated that there is nothing in its regulations that would prohibit the Division from approving the transfer of <br /> • those permits to Highbury if the paperwork and bonds that Cotter and Highbury submit are acceptable to the <br /> Division. <br /> To summarize, because Cotter is voluntarily placing each of the Mines into reclamation, it no longer seeks a second <br /> five-year period of temporary cessation for each Mine and withdraws its notices seeking a second five-year period <br /> of temporary cessation for each Mine effective today. Accordingly, there is no need for the Board to consider <br /> Cotter's notices regarding a second five-year period of temporary cessation for each Mine at the Board's February <br /> 19-20, 2020 monthly meeting. Cotter therefore understands that the Division will promptly vacate the February 19- <br /> 20, 2020 hearing on these matters. Please advise me when such action has been taken. <br /> If you have any questions regarding this letter, please contact me at ken.nutshinskiQ-cotterusa.com or(720) 554- <br /> 6207. <br /> Very truly yours, <br /> Ken Mushi ski <br /> President <br /> Cotter Corporation(N S L Telephone(720)554-6207 <br /> 7800 E Dorado Place,Ste 210,Greenwood Village,CO 80111 Far(720)554-6201 <br />