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<br />Hurry D. Covey <br />479 County Road 83 <br />Bwlder, CO 80302 <br />November 12, 1996 <br />Mr. 'i'eong S. Kang <br />East-West Mining Corporatian, Inc. <br />999I'inion Hills Drive <br />Cazson City, NV 89701 <br />Dear Mr. Kang: <br />Thank you for your letter dated November 5, 1996. We understand that you would like <br />negotiations to continue regarding the purchase of the mine. We fitlly believe your <br />intentions to be honorable and rea!sze that delays have occurred due to negotiations with <br />your irrvestors. East-West Mining Corporation has not communicated with us and has <br />failed to sign legal agreemems that have taken considerable time and money on our part. <br />We aze sure you would agree that we have been more than patient in these matters. The <br />inability to keep ageemems and pay your debts with other companies has been a great <br />concern to us. <br />As of this date, seven months of rent aze now owing from the end of your expired <br />contract. Your failure to pay rent on the house has caused us to seek a legal eviction of <br />you grid your possessions from the premises. You are now asking us to waif four more <br />months with out further rent. The rental income from our property is needed in order for <br />us to meet our own Snancial obligations. It has become increasingly difficult for us to <br />continue without the income from our property. Therefore, we offer you only one option <br />at this time. If you wish negotiations to cominue, you will be required to send $11,000.00 <br />to sea,:re the rental house for the time period of April 1996 through March ]997. If <br />negotiaions on your end allow you to purchase the mine and house prior io March 1997, <br />any overage of rent paid would be applied to the down paymem. You have until <br />November 22, 1996 to fulfill this obligation. Should you elect not to meet this option, all <br />negotiations will be over, you will be evicted, and the house will be reined to another <br />party. The ternunation of our agreement dated Fetiniary 16, 1995, as amended, still <br />applies and will not be rescinded until the purchase of the property has been completed. <br />We thank you for your time and consideration in this matter and look forward to a quick <br />response from you. <br />Sincerely, <br />Harry D. Covey <br />ao~i~~ <br />Astrid L. Covey <br />