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fa SEP O 1 1999 DIVISION OF MINERALS AND GEOLOGY Department of Natural Resources 131 J Sherman SL, Room ? 15 Denver, Colorado 80203 Phone: 1303) 66G3567 FAX: (303) 832-8706 Operator: RECEIVED NOV 03 ~99~ Division of Minerag 8 Geology FINANCIAL WARRANTY CORPORATE SURETY INTERNATIONAL URANIUM (USA) CORPORATION Operation: VAN 4 MTNF PermitNo.: M-97-032 BondNo,: Warrantor: •NATIONAL UNION FIRE INSURANCE COMPANY OF PITTSBURGH, PA. Street: 70 Pine Street Ciri: New York. State: New York Zip Cods: 10270 Area Code: 212 Telephone: 770-7000 KNOW ALL MEN BY THESE PRESENTS, THAT: U I Y I S 1 O N O F MINERALS -&- CEOLOGY MECUNgTIJN nINIn G'SAFF~T eai owns Governor Greg E. Walther Ezecmive Director ntichael B. Long Drrec:or ~~ ~. V (~~ WHEREAS, the Colorado Mined Land Reclamation Act, C.RS, 1973, 34-32-101 gt: seq. (the "Act"). as amended, provides that no pemut may be issued under the Act until the Mined Land Reclamation Boazd (the "Board") receives a Financial Warranty (or Warranties) as described in the Act. WHEREAS, INTERNATIONAL URANIUM (USA) CORPORATION (the "Operator"), a Delaware corporation, has applied for a permit to conduct a mining operation latow•n as Van 4 Mine (the "Operation"), on certain lands in Montrose County, Colorado. These lands aze described in the permit application, as amended and supplemented, and aze referred to herein as the "Affected Lands". WHEREAS, in the application for the permit, the Operator has agreed to be bound b7 all requirements of the Act and all applicable rules and regulations of the Board, as amended from time to time. STATE OF COLORADO WHEREAS, in the application for the permit, the Operator has agreed ~~ith the Board to provide for reclamation of the Affected Lands that are now, or may become, subject to the permit, as required by' law.