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JEpRY W. pA15CN <br />JONN R, NCNO[g90N <br />MICNAEI. D. 9NIM NIN <br />EUGEN[ J. RIORO+N <br />P4UL J. 21 L15 <br />VRANESH AND RAlSCH, LLC <br />ATTORNEYS AT LAW <br />I) ZO I+•+ 5'/RE[T. SUITE 200 <br />P. O. !OR G) I <br />BOULDER, COLORADO 80306-0871 <br />TELEPNOnE ]O]/++]-G151 <br />TLLECOPICR ]O]/++]9986 <br />October 30, 1996 <br />CERTIFIED MAIL. RETURN <br />RECEIPT REQUESTED <br />Mr. Rocky Conner <br />Mr. Youn Fi. Oh <br />999 Pinion Hitis Dr. <br />Carson City, NV 89701 <br />East/West PJlining Corporation, Inc. <br />c/o Rocky Conner, Secretary <br />999 Pinion Hills Dr. <br />Carson City, NV 89701 <br />Mr. Youn H. Oh <br />11587 Sutters Mill Cir. <br />Gold River, ~~A 95670 <br />Mr. Rocky Conner <br />5119 Williams Fork Trail <br />Boulder, CO 80301 <br />O[OROL vR+N [9N IRRIR[DI <br />TNOMJJ MORRIS <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, a ated 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 terms helve failed. <br />6~c:miiennlmlcannaranr <br />