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<br />U
<br />UNITED STATES
<br />DE PARTh1E NT OF TI1E INTERIOR
<br />^UR F.AU OF NAND )IAN'AO ESIE NT
<br />COAL LEASE
<br />rnia le.ae.:a en ~ ~a isle on OCT 3 1 i978
<br />Lana 41a,agr c.. m. ,na
<br />Scrial Number
<br />C-?0900
<br />by n,n Un,ue sn:ra of Amrrm.. mr I<..or. mnesn me el,r.a or
<br />Energy Fuels Corporation
<br />7h ree Park Central - Suite 900
<br />1515 Arapahoe S[reeC
<br />Denver, CO 80202
<br />ana .M1.u beremr ero-rl,.~r en NOV 1 19%a , r.//rr..: r a.,rrl.
<br />mr Ir~s arr.
<br />Sec 1. STATUTES AND REGULATIONS -This lease is veil pursuant •ntl sublecl to IFe leans and pro~rs ions u! IFe 4Lnenl
<br />Lens mg Aa of February TY, Io10, OI Slet. <]), a ended55J0 U.S.C. Serllons IPI-]AJ, hcrealler refrrretl to •s Ina Au. Thu
<br />lease a also subjeu to all ngu lnl inns of the Sccrel ary of lM1C fmvnor (roc lutl mg, but not I,viled lo, JO CFR Pert 111 and aJ Ch'R
<br />Gaup JO110) wnrrn a q M1ereafi er in Iwce and wF¢h n metlr a fart M1rrenl, ce Pr IM1a1 n endmenl I IFe regulal,m•
<br />madr subseq nl Ip Ina effe Clive dalA u! Inrs Icase shell an e' the rental end pr odurl ion royally requ? menls in Srcl ron 5 end 6 0l
<br />ms Irasr. *e(c ontinued on page 3)
<br />['ITNE[SETH:
<br />Sec. R RIGHTS OF LESSEE -The lessor, m sidrnllon o! Ibe bonus, mots, vne r..l.hies and elM1er cnnd n,ons hernnaeer
<br />sal lorth M1ereby gnnls and lenses la IFe lessee IFe esx lus ive rigM1l end pivilc a to mine and dispose of nll R R%Y a ]Orxtglf
<br />IhharN'xksaRlA:lknzxkax3rltclglluxxxl~t`zxxnk strippable cosf reserves in the Fish ~ree~C Seam,
<br />south of FSsh Creek, loco tail in [he folloving described land situated in [he State of
<br />Colorado:
<br />T. 5 N., R. 86 W., G[h P. M.
<br />Sec. 19: Lots 6 d 7, S'YNE'C, SE%NW'(, CEILSW~, N'45Erg
<br />T. 5 N., R. 87 W., 6th P. M.
<br />Sec. 25: Lots 1, 2, 3 8 4
<br />•
<br />
<br />Ra [e of Production:
<br />1978 - No more than 538,000 tons
<br />1979 - No more than 526,000 tons
<br />not produced in 1978
<br />1980 and each year [hereafter -
<br />tons less than 1,064,000
<br />years 1978 and 1979
<br />plus any tons less than 538,000 tons
<br />No more than 648,000 tons plus any
<br />tons no[ produced in [he combSned
<br />pm caning 419.87 or lev, toga M1er wnh the right to conatrun all works, bu ild inga, alruclmea, equlDmenl,
<br />•nd •ppli ancu whmh may be sec easvy and convenient IDr them Ug and prepnenon of IFe coal fw mn4el, and, subleu to the
<br />enanrena north prosmee.lo use a ucF of IM1e swface a may re nobly be rtquned in the e. arc ise al IM1e rigM1la antl Rrn legea
<br />here n Canted for • puiod of 20 yu •nd so long tM1ere after •s IM1e conddlen of coin inued operrl ion a met.
<br />iec ]. DILIGENCE - l'hr~lessre shall engage m IM1e dU~
<br />,gaol de-elepmenl of IFe coal re aublen Ir IM1r lease.
<br />lfler dlLgrnl devetopmenl r •chier<d, IM1e levee shall
<br />rnl,nued opera ion sof lh< m n IM1e
<br />Ir.ardrl.~a.. Tor lama adigrm ar.dppmrm old ronunueJ
<br />ppnmion .rr eermre in mr regula Iona.
<br />Sec. a. BOND-The lessee aM1all file wilM1 IM1e •pROpnne
<br />Bu.e•u of Land Managemrnl eflice • lave bond m IM1e amount
<br />of s 25,000.00 . m. IM1r P .rte benem of Inr unura
<br />slnra, le i r Dn'mem of .rma..ne reyalnra .rte m
<br />¢Dlu with all mM1er Irrma of IM1U lam. IM1e
<br />eaDloralion •ndn m int plain, IM1e regulanana rod IM1e Act.
<br />An m n tM1r • um of IM1e luxe bond mry br required
<br />by IM1e rleaAOr uponm~pDreval of Ina eaplpulion o sin{
<br />pl.n > upon .pvror^ pr . nM1.ner) rnM1<r Pl.n, m u .ny
<br />mnrr limr awing IM1r Idr of rnr Ir.m le mnrpl rh.ngre
<br />rpnellien..
<br />Sec. 5. RENTAL - An annual renal of $3. DD fm each
<br />er funron Ihereol shall be pod in adrarce o or belore
<br />Ines ary dale of Ihi• lone. The ary dale 1•
<br />the annrvrmry of the elfenlve due of rM1Unluae.
<br />Sec. b. PRODUCTION ROYALTY -TM1e loses shall pry
<br />prmarum rprally or 16 pe.rrnl pf mr ramr of <ed Rp.
<br />eupetl br alriD n. ru{rr minis{ memoea,YfgxxxxraralrrYrt
<br />IDlnnral mr>dr nil lmr s~ lax r®tx cs.Dnr lmYlear crm[ sac
<br />The lue I r •I .hall be eel mnUeO o t loan in Ise
<br />re[ulu Iona. Protluclion roYrhle• Dad for • ulemn month
<br />abll be crease by IFe um of rnv rdonce roYallio
<br />Dud under Ihu lease to the eatem IM1e wch advanre roy.
<br />rh:r• have net been used to reduce Drmucl ion raydlle• In
<br />ores loua munlM1. However, pr nducuon royalties payable
<br />after Ina 1gM1 year al the lease shall not be reduced by ad~~:
<br />cal all ins Pud dunng IM1e liral ]D Ye• r1 tM1e lane.
<br />Produnlon royalties abll be payable Ina Lnal dry of IM1e
<br />onlM1 ucreedmg IM1e calendar Rd(XKlr in wM1mh IM1e rod u
<br />mrma.a quarter
<br />Sec. ]. ADVANCE ROYALTY -Upon regmal by IM1e levee
<br />IM1e ing super mq epl. !or a total al n
<br />m.n to rr.ra. mrawymrm mr ,ar.nrr ror•Illra .n en. ear
<br />IM1e condition of coin inued opennon for any Parr Ovular yen.
<br />AnY Pn'menl of advance roy allma m beu of cool inued open
<br />anon shall be pars •m to • •gre ant ugnetl by IM1r lumr
<br />•nd Iwwr. •M1n:M1 abll be nmaee e. Dan of Ihn lease. The
<br />a[reemrnl shill include • •cM1etlule of pq'mrnb •m ahaU.
<br />be mbjecl m IFe advance rrpll onddlon• I forth U
<br />mere{darpna. **(con[inue~ on page 4)
<br />Sec. {. METHOD OF PAYMENTS -TM1e lessee aM1all mate
<br />enbl PaYmenl• In IM1e •pPrePri ale Rweau of Land Mange
<br />enl olbc until eilM1er Prmuclirn roYrlliea rdvarcr
<br />UYdliu became pgable. Themaner. dI renlda ~ROdurlion
<br />• vdlie+ am advrnre roYdliu •Fdl, M1e paid to IM1e m in{
<br />suprrviaer. All remHUnce• to bweau of Land Manage ^enl
<br />aM1dl be made payable to the Bureau of Land Mro{emeu,
<br />IM1Or In the GeoloPOl Surrey shall be made payable he
<br />IM1e Unnetl Slno Geolo{lul {urveY~ ,
<br />Se[ 9. ERPLONATIOM PLAN - A• ape<Ifietl in the reJ(u-
<br />In ,IFe levee shall •ubmn Ir IM1e m mg super
<br />eapmnllon Pl.n brm. enaarl ing any r.Dmnllenr con me
<br />lases hods. r.rrDl cuual use. between Ise etlenlve dau
<br />of IM1U luxe rod the dale of apprord of IFe m m¢ DM1n.
<br />The leuce shall net c ea plow Ion un11111M1e m m{
<br />au Pen uor M1o appravedmlM1r eapler alien plan Thnealler.
<br />Form 35]o-I (July I9]]) Oarm•rlr nyo-n
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