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~ ~ III IIIIIIIIIIIII III <br />STATE OF COLORADO <br />DIVISION OF MINERALS AND GEOLOGY <br />Dep.tnmem of Nawral Resources <br />131 .3 Sherman 51.. Room 215 <br />Denvcr, Colorado 80203 <br />Phone: 1 llDl 856-7557 <br />FAY: (31171 8 3 2-8 1 05 <br />May 5, 1998 <br />Mr. Perry Flanigan <br />Ryan, Ltd. <br />1409 Birch <br />Montrose, CO 81401 <br />Re: Hawkeye Mine, Permit No. M-78-311, Succession Approval, Revision No. SO-005 <br />Dear Mr. Flanigan: <br />~~ <br />DEPARTMEM" OF <br />NATURAL <br />RESOURCES <br />Roy Romer <br />Governor <br />lames 5. Lochhead <br />F.zxwive Director <br />Michael B. long <br />Division Director <br />On May 5, 1998, the Division of Minerals and Geology approved the succession of operators from Ryan, <br />Ltd. to Gold Eagle Mining, Inc. For the Hawkeye Mine, Permit No. M-78-31 I. Gold Eagle Mining, Inc. <br />is now the permitted operator of the Hawkeye Mine, and as such, is responsible for all provisions in Permit <br />No. M-78-311, as well as those specified in the Rules and Regulations. <br />Enclosed is Mountain Credit Bank of Montrose, Colorado Letter of Credit No. 2, in the amount of <br />$5,000.00, and the Performance Warranty you originally provided. These have been released as of the <br />May 5, 1998 Division approval for the succession of operators. You should advise the issuer of your <br />bond(s) of this release by copy of this letter. <br />If you have any questions, please contact me. <br />Sincerely, <br />~v Thomas D. Gillis <br />1/IQ Senior Environmental Protection Specialist <br />Enclosures <br />CERTIFIED MAIL NO. Z 130 086 703 <br />Return Receipt Requested <br />M'\OSS\ BDC~TEM P\MS00371 I.TDG <br />