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<br />VRANESH AND RAISCH, LLC <br />ATTORNEYS AT LAW <br />JLRRY W, RAISCa <br />JOHN R. NEN OLRSON <br />NICNw EL O. 9NINNIH <br />W GEN[ J. RIOROwei <br />PwuL J. Lus <br />1)20 1~•• 9TRCET, SUITE 200 <br />P. O. GO% G) ~ <br />BOULDER, COLORADO 80306-0871 <br />TEL[PNONE ]O]vs4]-GIST <br />TELECOPICR ]O], ~~}p~GB <br />October 30, 1996 <br />CERTIFIED MAIL, RETURN <br />RECEIPT' REQUESTED <br />Mr. Rocky Conner <br />Mr. Youn H. Oh <br />999 Pinion Hills Dr. <br />Carson City, NV 89701 <br />East/West Mining Corporation, Inc. <br />clo Rocky Conner, Secretary <br />999 Pinion Hills Dr. <br />Carson City, NV 89701 <br />Mr. Youn H. Oh <br />11587 Setters Mill Cir. <br />Gold River, CA 95670 <br />Mr. Rocky Conner <br />5119 Williams Fork Trail <br />Boulder, CO 80301 <br /> <br />OCOROC VRANC9N fgETIgEO, <br />TNONU NOggl$ <br />Re: Termination of Mining Option to Purchase Agreement <br />Gentlemen: <br />This letter is to inform you that the certain Mining Option to Purchase <br />Agreement, dated February 16, 1995, and modified on March 7, 1995, has terminated <br />pursuant to its terms. The reason for termination is your failure to exercise the <br />purchase option therein contained within thirty (30) days after the end of the <br />evaluation period, which ended at midnight on March 10, 1996. Efforts to negotiate <br />new teens have tailed. <br />6tc:mliannirnmonnera. ur <br />P <br />f <br />