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STATE OF COLORADO <br />DIVISION OF MINERALS AND GEOLOGY <br />Department of Natural Resources <br />1313 Sherman St., Room 215 C O L O RA D O <br />Denver, Colorado 80203 DIVISION O F <br />Phone: (303) 866-3567 - M l N &RA L $ <br /> <br />FAX: (303) 8328106 G E O L O G Y <br /> REC LANATION•NI NING <br /> SAFETT•SUENCE <br />May 14, 2003 ~ Bill Owens <br /> Governor <br />Mr. Gary A. Wtlght Greg E. wakner <br />Wright & Preusch Mining Ltd/ Executive Director <br />C/O Wright & Adger, LLP Ronald W. Canany <br />715 W. Main $t., Ste 201 Division DIreCIOr <br />ASpen, CO g 1611- Natural Resource Trustee <br />,~ <br />Re: Smuggler Mine, Permit No. M-1995-097, Succession of Operators Approval, Revision No. SO-1 <br />Deaz Mr. Wright: <br />On May 14, 2003, the Division of Minerals and Geology approved the succession of operators from Wright & <br />Preusch Mining Ltd to New Smuggler Mine Company for the Smuggler Mine, Permit No. M-1995-097. New <br />Smuggler Mine Company is now the permitted operator of the Smuggler Mine, and as such, is responsible for all <br />provisions in Permit No. M-1995-097, as well as those specified in the Rules and Regulations. <br />Enclosed is Norwest Bank Colorado N.A. Certificate of Deposit No. 610462003, in the amount of $56,200.00, <br />and the Performance Warranty you originally provided. These have been released as of the April 28, 2003 <br />Division approval for the succession of operators. You should advise your bank of this release by copy of this <br />letter. <br />If you have any questions, please contact me. <br />Sincerely, <br />~d Cazl B. Mount <br />Senior Environmental Protection Specialist <br />Enclosures <br />CERTIFIED MAIL NO. 7001 2510 0004 2146 0777 <br />Retum Receipt Requested <br />Office of Office of Colorado <br />Mined Land Reclamation ARive and Inactive Mines Geological Survey <br />