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San Juan Corp. <br />P.O. Drawer I <br />611 Water St. <br />Silver Plume, CO 80476 j <br />Tel. (303)569-0155 <br />Fax (303)569-0156 <br />R ~CF~V~D <br />?p. <br />~~Yision olMfnera~S ?V ~ <br />aadCBO1p9Y <br />Notice of Termination ~ of Lease <br />Gold King Mine Corporation <br />Atm: Stephen Fearn <br />2201 CR 2 <br />P.O. Box 299 <br />Silverton, CO 81433 Sept. 2Q, 2003 <br />Dear Mc Fearn: <br />Please be advised that as 5 P.M. September 19, 2003 San Juan Corp. has not received the <br />Certificate of Insurance for broad form general liability and damage insurance in the amount of at least <br />$1,000,000. combined single limit, fire and extended coverage insurance',on improvements, with loss <br />payable to Landlord as stipulated in l.h of the lease governing 5.67 acresl,of the Herbert Placer M.S. 13562, <br />San Juan County, Colorado, dated November ]4, 2002. As previously advised August 27, 2003 this <br />constitutes a substantial default of the lease, and as the demand for Compliance or Possession served upon <br />you at 4 P.M. Sept. 16, 2003 by the San Juan County Sheriff stipulated three days for compliance or <br />possession, this lease is hereby terminated, and Gold King Mines Corporation is hereby directed to remove <br />all equipment, personnel, water(s) flows, metal precipitates and other items of Gold King Mines <br />Corporation property from the premises. This termination of the lease is effective immediately. <br />We are somewhat mystified by the Pinnaco] Assurance Workers Compensation and Employers' <br />Liability certificate in the name of Silver Wing Company Inc. as we haveno business relationship with <br />Silver Wing Company Inc. and Silver Wing Company Inc. has no right to enter the premises to our <br />knowledee.. The lease requiredthis coverage in the name of Gold King Mines Corporation with San Juan <br />Corp. receiving a copy of the Certificate of Insurance from Gold King Mines Corp. <br />For San Juan Corp., <br />r• ''~ i <br />~~L <br />Todd C. Hennis, Pres. <br />Qo ~ ~ s ,,,~. e : i~1d~-u rS f Leas-~ ~~r' H.....,,~ a.~s.. <br />