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® COLORADO <br /> Division of Reclamation, <br /> Mining and Safety <br /> Department of Natural Resources <br /> March 21, 2023 <br /> Kevin M. Cassidy <br /> Seaglass Holding Corp. d/b/a US Rare Earths <br /> 5600 Tennyson Parkway, Suite 240 <br /> Plano, TX 75024 <br /> RE: Notice of Intent No. P-2011-024, Seaglass Holding Corp. dba US Rare <br /> Earths, Powderhorn Project Exploration Drilling Program <br /> Return of Financial Warranty <br /> To Whom It May Concern: <br /> On September 2, 2017, the Colorado Mined Land Reclamation Board (MLRB) revoked the <br /> Seaglass Holding Corp. dba US Rare Earths, Powderhorn Project Exploration Drilling Program <br /> Notice of Intent File P-2011-024 and revoked the financial warranty. The site is located in <br /> Section 24, T46N, R2W, 6th Principal Meridian in Gunnison County, Colorado. <br /> The Division of Reclamation, Mining and Safety inspected the site on March 17, 2022 and found <br /> that all drill sites were reclaimed and that no additional work was needed. <br /> As required by C.R.S 34-32.5-118, bond funds are to be used by the State to reclaim the site not <br /> previously reclaimed by the operator. This letter is to inform you that no further reclamation of <br /> the site is warranted. Therefore, the Division is required to return the remaining $7,813.75 to the <br /> financial warrantor. The bond was submitted in the form of a check, Bond Number 011722. In <br /> order to request the funds, Seaglass Holding Corp. dba US Rare Earths will need to submit a <br /> completed W9 form and provide documentation that Seaglass Holding Corp. dba US Rare <br /> Earths posted the financial warranty associated with the Powderhorn Project Exploration Drilling <br /> Program, P-2011-024. <br /> Please submit this information by June 1, 2023 to my attention at 1313 Sherman Street, Room <br /> #215, Denver, CO 80203 or by email at erica.crosbv@state.co.us. Failure to respond will result <br /> in the $7,813.75 funds to be forwarded to the State of Colorado, Unclaimed Property Division. <br /> Please let me know if you have any questions. <br /> Sincerely, <br /> Erica S. Crosby <br /> Senior Project Manager/Senior EPS <br /> cc: Russ Means; DRMS <br /> 10'P <br /> �e ' r890 <br /> 01 <br /> 1313 Sherman Street, Room 215, Denver, CO 80203 P 303.866.3567 F 303.832.8106 http://mining.state.co.us <br /> Jared S. Polis, Governor I Dan Gibbs, Executive Director I Virginia Brannon, Director # 1876 <br />