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OXBOW MINING, LLC <br />ELK CREEK MINE <br />CDRMS FILE C-1981-022 <br />PHASE III BOND RELEASE APPLICATION (SL-04) <br />Date of Request: December 18, 2020 <br />Permittee: Oxbow Mining, LLC (OMLLC) <br />Permit Number: C-1981-022 <br />Initial Permit Approval Date: October 11, 1983 <br />Mine Name: Elk Creek and Sanborn Creek Mines (Elk Creek Mine) <br />Bond Release Phase Requested: Phase III <br />Acreage: Current Permit Area: + 15,676.51 acres <br />Maximum Area Disturbed: + 226.99 acres <br />Area Sought for Release: + 48.81 acres <br />(16.18 ac. Pre-SMCRA, 32.63 ac. Post-SMCRA) <br />Bonding Company: Lexon Insurance Company <br />Bond Number: 1069009 <br />Amount of Bond Release Requested: 100% of applicable reclamation bond amount for <br />Phase III bond release areas. <br />Total Bond Amount Currently Held: $4,500,000.00 <br />Current Actual Bond Liability Amount (as of RN-07_ December 31. 2019): <br />$4,113,573.04 <br />The amount requested for release will be based on the amount determined to apply to the <br />reclaimed surface disturbance, drill holes, sites, and roads. This amount is being currently <br />calculated. When the bond amount applicable to the reclamation is determined, OMLLC <br />requests a total of 100% of the remaining applicable bond amount for areas where Phase <br />III bond release is sought in accordance with CDRMS Rule 3.03.1(2)(c). <br />Legal Description of the Area Requested for Bond Release: The following tables, <br />Oxbow Mining„ LLC Elk Creek Mine, 2019 and 2020 Bond Release Eligible Areas: Phase <br />III Pre-SMCRA Reclamation and Oxbow Mining, LLC Elk Creek Mine, 2019 and 2020 <br />Phase III Bond Release: Post-SMCRA Eligible Areas present the locations or sites to be <br />considered for bond release under this application. The reclaimed areas requesting bond <br />release are located within the permit area which is comprised of portions of Sections 27-34, <br />T12S, R90W, Sections 25-27 and 34-36, T12S, R91 W, Sections 6 and 7, T13S, R89W, Sections <br />1-12 and 17, T13S, R90W, Sections 1-3 and 11-13,T3 S, R91W, all within the 61h PM. <br />Oxbow Mining LLC 2020 Phase III Bond Release Synopsis (SL-04) Page 1 <br />