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b. Colorado State Board of Land Commissioners, Lease of State <br />Trust Land, dated September, 1994, between the State of <br />Colorado, as Lessor, and Energy Fuels Associates. Ltd.. as <br />Lessee, for the right to enter far the purpose of complying <br />with the 'legal right to enter' and subsidence requirements <br />of the Division of Minerals and Geology regulations. Lease <br />covers the following described lands situated in Fremont <br />County, Colorado: <br />Township 20 South. Rance 70 West. 6th P.M. <br />Section 36: NE1/4NE1/4NE1/4 (Surface Only) <br />c. Operating Agreement dated March 22, 1985, Between Energy <br />Fuels Associates, Ltd., as owner, and EFCI, as operator, <br />authorizing EFCI to conduct coal mining activities on all of <br />the above described lands. <br />None of the above described leases and rights is the subject of any known <br />• pending litigation. However, on January 19. 1999, Energy Fuels <br />Associates, Ltd, was served with a complaint in an action filed in the <br />District Court for the City and County of Denver by South Wind Land and <br />Mining LLC, one of the members of the 'Vento Interests' described above <br />in the Surface Ownership and Mineral Ownership sections of the Permit <br />(Pages 2.03-18 through 2.03-20a). The Complaint alleges that Energy Fuels <br />is trespassing on land in which South Wind owns an undivided 25X <br />interest. Energy Fuels denies that allegation. Energy Fuels has the <br />continuing right to conduct operations on the lands in which South Wind <br />owns an interest under the Mining Lease between Corley Mountain Ranch, <br />Ltd. and Energy Fuels Associates. Ltd., dated December 8. 1998. Energy <br />Fuels is vigorously defending the action brought by South Wind. <br />The mineral and surface estates are not severed on any lands where coal <br />will be mined within the permit area; therefore. no consents or <br />conveyances as described in Section 2.03.6(2) are necessary or required. <br /> <br />2.03-38 Revised 2/19/99 <br />RN-03 <br />