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P O Box 326. Canon City, CO 81215 <br /> anaela C envalternatives com <br /> Environmental 719-275-8951 <br /> L Alternatives, <br /> 61 Inc. <br /> • 3a d 2022 <br /> i JF MCIAMA" <br /> Tim Cazier <br /> MINING AND SAMV <br /> CO DRMS <br /> 1001 E. 62"d Avenue <br /> Denver,CO 80216 <br /> RE: P-2013-002 and P-2020-002 Zephyr Gold USA Ltd <br /> Bond reduction request <br /> Dear Mr.Cazier, <br /> Please accept on behalf of Zephyr Gold USA Ltd,this request for surety reduction. The surety <br /> reduction accounts for reclamation of the 2020 exploration mining campaign disturbances,the <br /> exploration drill holes,Sentinel trenches and Windy Point trenches/roads. The total surety reduction <br /> request is$58,757; leaving$48,553 as posted surety for remaining road reclamation. <br /> Task# Task Description Bond Posted Date completed <br /> 100 Helicopter pad for P2020-002 $ 14,635.00 9.10.2020 <br /> 2020 Campaign reclamation 9.10.2020 <br /> 4 holes abandoned 9.10.2020 <br /> Drill pad and trails 9.10.2020 <br /> Windy Point trenches/roads 5.3.2021 <br /> Sentinel trenches 1.20 acres 9.7.2019 <br /> 010 20 Exploration Drill holes $ 36,014.00 9.10.2020 <br /> 04C 2845 linear feet of road $ 4,785.37 <br /> 050 Revegetated 2.86 acres $ 3,322.49 <br /> Potential bond reduction $ 58,756.86 <br /> Zephyr is suspending exploration until such time as the mine permit is approved. The roads that <br /> remain bonded will be used after the mine is approved in order to conduct exploration outside the <br /> approved permit boundary. <br /> Feel free to contact me directly with any questions at(719) 275-8951 or <br /> angela@envalternatives.com. <br /> Respectfully submitted, <br /> Angela . Bellanto i <br /> Cc: L. Komperdo,W. Felderhof, D. Felderhof <br />