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ESTIMATE OF NEAR-SURFACE MINERAL RESOURCES <br />POWDER MOUNTAIN RANCH PROPERTY <br />14.03-ACRE PARCEL IN SECTION 2 <br />FEBRUARY 23, 2000 <br />RESOURCE MINABLE AREA <br />(acres) AVERAGE THICKNESS <br />(feet) TOTAL VOLUME <br />(cu. yards) <br />Topsoil 5.1 1.25 10,200 <br />Clay, Sand, (some <br />cobbles, & boulders) 5.1 3 24,600 <br />Clay, sand, gravel, <br />cobbles, & boulders 5.1 20.75 170,700 <br />Total all materials to depth of 25 feet 205,500 <br />NOTES: Average thickness of each layer based on the four test pits. In the <br />case of the "Clay, sand, gravel, cobbles, and boulders" layer, an estimated <br />average depth of 25 feet was used, as none of the pits reached bedrock. <br />A buffer strip 30 feet wide along the property lines was deleted from the <br />"minable" area. <br />10 <br />