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(Page 3) <br />MINE ID # OR PROSPECTING ID #: M-1999-058 <br />INSPECTION DATE: 4/1/04 INSPECTOR'S INITIALS GRM <br />The Financial Warranty for this site was calculated in 1999 for the issuance of the permit. The Division will await <br />the results of business negotiation between the operator and Polycor before reviewing and updating the bond. The <br />current bond appears to be sufficient to cover reclamation costs based on those areas observed. However, not all <br />areas were inspected. <br />No other issues or problems noted. <br />Six pictures enclosed. <br />Responses to this inspection report should be directed to Russ Means at the Division of Minerals and Geology, Grand Junction <br />Field Office, 101 South 3`° Street, Room 301, Grand Junction, Colorado 81501, phone no. 970-241-1117. <br />I & E Contact Address cc: <br />^ CE <br />NAME: Rex Loesbv ^ BL <br />OPERATOR: Sierra Minerals Coro. ^ FS <br />STREET: 6164 S. Newport St. ^ HW <br />CITY/STATE/ZIP: Centennial. CO 80111 ^ HMWMD (CH) <br />^ WOCD (CH) <br />^ OTHER <br />