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RECE~~E® <br />Jq:~ 1 :~ 2005 <br />NSURANC <br />Division of Minerals znd Geology <br />January 14, 2005 <br />Mr. Kent Gorman <br />State of Colorado <br />Department of Natural Resources <br />Division of Minerals & Geology <br />1313 Sherman Street, Room 215 <br />Denver, CO 80203 <br />Re: Policy Description: Energy Fuels Corporation <br />Policy Number: 79544662 <br />Insurance Company: Chubb Custom Insurance Company <br />Effective Dates: 10/01/04 to 10/O1/OS <br />Deaz Mr. Gorman: <br />Following up on our recent telephone conversation the insurance company will no longer <br />allow the certificate of insurance to be altered. Please see the attached copy of our email <br />to the underwriting requesting the alteration. <br />As we discussed it is our agency practice to notify all certificate holders if the insured's <br />policy does cancel. Upon final cancellation of an insured's policies we mail out new <br />certificates amending the expiration date and stating that the policy has been canceled. <br />If we can be of any further service at this time please contact our office. <br />CC: Mr. George Patterson <br />Energy Fuels Corporation <br />(719)784-4352 <br />Lines Manager <br />Brown & Brown of Steamboat Springs P.O. Box 775043 2150 Resort Drive, Suite 250 Steamboat Springs, CO 80477 <br />Phone: (970) 879-1363 Fax: (970) 879-0239 <br />