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Bonding Calculations <br />Northfield Exploration Nqtice of Intent <br />Sealing of Drill Holes <br />Sealing drill holes will involve placement of cement extending 20 feet above <br />and below water bearing zones, and placement of abandonment fluid in the <br />remaining hole volume to within 10 feet of the surface. A maximum of 2 water <br />bearing zones are projected at each site based on previous drilling information <br />obtained at drill sites in t}~e immediate vicinity. <br />Cost <br />Cement: 3 holes x 80 feet/hole x $0.90/ft = $216 <br />Abandonment fluid: 1990 feet - (3 x 80 feet) - (3 x 10 feet) x 1.5 gal./ft. x <br />$0.18/gal = $464 <br />Labor and equipment (rig, water truck, 2 man crew) <br />$130/hr. x 4 hr./hole x 3 holes = $1560 <br />Water : $35.00/load x 2 loads/hole x 3 holes = $210 <br />Subtotal $2450 <br />Mobilization Cost <br />Approximately 2 hou}s of mobilization time from the Canon City/ Florence <br />area. <br />Dozer/ backhoe: $100/hr. x 2 hrs. _ $200 <br />Drill Rig: $100/hr. x 2 hrs. _ $200 <br />Water truck: $50.00/h{. x 2 hrs. _ $100 <br />Subtotal $S00 <br />TOTAL ESTIMATED DIRECT RECLAMATION COST $5153 <br />Northfield Partners LLC <br />Feb. 24, 2005 <br />Page 3 <br />