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4. On December 11, 2024, the Division sent Prospector a notice of surety <br /> increase (SI-1). The due date for SI-1 was February 9, 2025, 60 days from the date of <br /> the notice. <br /> 5. On February 4, 2025, the Division received an email from a <br /> representative of the Prospector requesting an extension of SI-1's deadline by 90 days. <br /> 6. On February 5, 2025, The Division extended the deadline for SI-1 to June <br /> 30, 2025, due to Mr. Murphy's health conditions. <br /> 7. On July 3, 2025, the Division mailed Prospector a Reason to Believe a <br /> Violation Exists and Notice of Board Hearing letter for Prospector's failure to post <br /> additional financial warranty. In addition to notifying Prospector of the possible <br /> violations, the Division's letter also provided details regarding a hearing on this <br /> matter before the Board scheduled for August 20, 2025. The Prospector received the <br /> letter on July 10, 2025. <br /> 8. Prospector has not submitted the additional financial warranty <br /> required by SI-1. <br /> 9. The NOI includes a performance warranty in which Prospector agreed <br /> that all prospecting operations shall be in compliance with the Colorado Mined Land <br /> Reclamation Act, Article 32 of Title 34, C.R.S. ("Act") and all rules and regulations <br /> promulgated pursuant to the Act. <br /> CONCLUSIONS OF LAW <br /> 10. The Board has jurisdiction over this matter and Prospector pursuant to <br /> the Act. <br /> 11. Prospectors are required to post financial warranty increases within 60 <br /> days from the date of the notice of increase. § 34-32-117(4)(c)(II), C.R.S.; Rule <br /> 4.2.1(2) of the Mineral Rules and Regulations of the Colorado Mined Land <br /> Reclamation Board for Hard Rock, Metal, and Designated Mining Operations <br /> ("Rules"). Prospector failed to submit the additional financial warranty within 60 <br /> days of the date of the notice of increase and subsequent extensions and is in <br /> violation of section 34-32-117(4)(c)(II) and Rule 4.2.1(2). <br /> 12. The Board may issue a cease and desist order if it determines that a <br /> violation of any provision of the Act or any regulation has occurred. § 34-32-124(2), <br /> C.R.S. (2024). Prospector violated section 34-32-117(4)(c)(II) and Rule 4.2.1(2) by <br /> failing to submit the additional financial warranty within 60 days of the date of the <br /> notice of increase. <br /> Smuggler Gold Mine, LLC <br /> P-2012-011 /Smuggler Gold Mine <br /> PV-2025-02 2 <br />