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SUMMARY OF NEAR-SURFACE MINERAL RESOURCES <br />FONTANARI PROPERTY <br />THREE PARCELS OF 2.0, 10.67 AND 129.2 ACRES <br />JULY 21, 2000 <br />CLAY, SILT, SOME TOPSOIL CLAY, SILT, GRAVEL, <br />COBBLES, AND BOULDERS <br />CU. YARDS TONS CU. YARDS TONS <br />390,600 460,600 1,773,900 3,436,000 <br />NOTES <br />Assumed specific gravity of 1.4 for the clay, silt, some topsoil <br />for conversion to tons. Assumed specific gravity of 2.3 for the <br />clay, silt, gravel, cobbles, and boulders. <br />Formula used to convert cubic yards to tons: <br />No. of cu yds X 62.4 lbs/cu ft X spec. gravity X 27 cu ft/cu yd <br />divided by 2000 lbs/ton = no. of tons. <br />12 <br />