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Mrs. Gwen Fraser 3 <br />meetings where we discussed terms for a deal on the Cash and Who Do mine dumps. <br />Unfortunately, Mr. Schnack's idea of a fair deal on these mine dumps did not include any <br />minimum annual payments, and was therefore not acceptable to the property owners. <br />Since that time, [have had numerous discussions with other parties who have expressed <br />an interest in making a deal on the Gold Hill properties. All of the individuals that I have met <br />with have been serious, experienced, and competent mining people. I have entered into <br />Option Agreements on two separate properties, and expect to finalize other Agreements within <br />the next couple of months. All of these Agreements include minimum annual payments, and <br />the guarantee of income to the property owners under standazd and reasonable mining terms. <br />Naturally, the people who I have been negotiating with would be interested in utilizing the <br />Gold Hill Mill for processing any ores produced from the properties made available for Lease <br />and Joint Venture Agreements. They would reasonably expect to have access to a mill with all <br />state and county permits in good standing, a secure legal source of water, a proper flow sheet, <br />and a mill that is managed and operated by an experienced, competent, and honest staff. If <br />they cannot satisfy themselves of these conditions, and if they cannot make financial sense of a <br />Milling Contract with COM, Inc., they will look to other milling facilities and opportunities. <br />These aze matters which I will gladly let you and the people I am dealing with determine <br />between yourselves. If you wish to be placed in contact with the individuals and companies <br />that I have been negotiating with, please contact Rodney Knutson, so that he can arrange a <br />meeting at everyone's eazliest convenience. <br />Until some deal is made, it is your responsibility as President of Colina Oro Molina, <br />Inc. to make it known [o all of your employees that none of the mine dumps situated in the <br />azea around the mill have been abandoned, and that none of these mine dumps are COM, <br />Inc.'s property. Your employees should be informed that they do not have the mine owners' <br />permission to process, transport, or mill any portion of any of these mine dumps. <br />Very wly yourt~s~~,.~. <br />~ - a~'i"" <br />Mark A. Steen <br />cc. Rodney Knutson <br />John R. Henderson <br />Richard H. Fraser <br />