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STATE OF COLORADO <br />DIVISION OF RECLAMATION, MINING AND SAFETY t/ <br />Department of Natural Resources <br />1313 Sherman St., Room 215 <br />Denver, Colorado 80203 <br />Phone: (303) 866-3567 <br />FAX: (303) 832$106 <br />May 29, 2007 <br />(/ <br />Mr. Teny V. Wetz <br />International Uranium (USA) Corp. <br />Independence P1aza,950 <br />1050 Seventeenth St. <br />COLORADO <br />DIVISION OF <br />RECLAMATION <br /> MI <br /> <br />E <br />~ <br /> SAF <br />TY <br /> Bill Ritter, Jr. <br /> Governor <br />/ <br />/ /, (( , - ( / <br />//~ <br />~vvl ~J V v-+ <br />~/ Harris D. Sherman <br />E><ecutive Director <br />~ Ronald W. Cattany <br /> Division DIrEYIOf <br /> Natural Resource Trustee <br />Denver, CO 80265 / <br />~/ / ~~ <br />Re: Carnation Mine, Permit No. M-1977-416, Succession of Operators Approval, Revision No. SO-4 <br />Deaz Mr. Wetz: <br />On May 22, 2007, the Division of Reclamation, Mining and Safety approved the succession of operators from <br />International Uranium (USA) Corp. to Denison Mines (USA) Corp. for this operation. Denison Mines (USA) Corp. is <br />now the permitted operator of the Carnation Mine, and as such, is responsible for all provisions in M-1977-416, as well <br />as those specified in the Rules and Regulations. <br />Enclosed aze the following bond and the Performance Warranty you originally provided. <br />Bond e <br />Bond Number Bond Amount <br />National Union Fire Insurance Company of Pittsburgh, PA Corporate Surety 16-67-19 $33,409.00 <br />These have been released as of May 22, 2007 Division approval for the succession of operators. You should advise your <br />bank or insurance company of this release by copy of this letter. <br />If you have any questions, please contact me. <br />Sincerely, <br />~j~ Bob Oswald <br />Environmental Protection Specialist <br />Enclosures <br />CERTIFIED MAIL N0.7003 1680 0000 6427 8721 <br />Return Receipt Requested <br />Office of Office of <br />Mined Land Reclamation Denver Grand Junction Durango Active and Inactive Mines <br />