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<br />IiN17ED STATES Scrtal Number
<br />DEPART1fENT OF THE INTERIOR
<br />OUREAU OF LAND ::ANAL E)fENT
<br />C-22644
<br />COAL LEASE
<br />Thif leafs. b enterea into on ~)N ] 3 1919 by mr vnltea sate. m Amrrlca. Ih! Irffar. mrongn ae Hurr.D m
<br />God Nangemenl, aM
<br />Energy Fuels Corporation
<br />Th rec Park Central, Suite 900
<br />DcnveA,a COh80202 reef FTEGUT yD O?,1':~weL
<br />C
<br />am fn.u brrpme errrcli.rad 'JUL 1 1979 , r.perrlr! awl1. . m! teffr<,
<br />Sec. 1. STATUTES ANH REGULATIONS -Thu lease w uetl pursuant and subject Lo the v and Ravlvona a! tie llinenl
<br />Leasm¢ Act a( Fehruary '_-. Ig3G, al Sut. s3], a entled3sJ0 U.S.G Sect Tens 191-103. hereafer referred : ;ne Act. This
<br />Iefse if also subject to +11 re¢ulationa of tM1e Secmtvy of the Werior [s!ud coq, bu: not Iinlletl la. JO CFR Pan '_11 +na s3 CFR
<br />Group 1000) vh,cn • m hereafter in face and v sn a made + part trre J(. a ceps :hat n endoem Io the requ muonf
<br />mftle subsequent to Iheaelfen ive due of NIS leas shall allrer the renal antl pl oh JC UUn toys LLy requvemema s >ecupn 5 and fi of
<br />coif Ir.s.. *(contlnued on page 5)
<br />OIT NCSSETH:
<br />Sec. 3. RIGHTS OF LESSEE -The Infor, in slaeru l0n J( the boom. r ana toys Irma +na elho conaiuans her<maller
<br />fet ronn hereby grams and leases to IM1e lessee ohs e+c lua,ve nghl na RIVI eqe to m ne and drspose of aiI•^Ofk3F[],'T.l"LWl'%:G11%
<br />kf If¢O +r+x%vs_xY'mrY'^'~"-"-+'txd4siuaP strip pab le coal reserves in [he :lodge ana any over-
<br />lying coal beds located in [he Following described land situated in [he State of Colorado:
<br />T. 4 N., R. R6 W., 6th P, M.
<br />Sec. 7: Lot 11 and SEk
<br />Sec. 8: Lot 4 and 6Wk
<br />Sec. 18: Lots 1, 2, 3, 5, 6, 7, 9, 10, 11, 12, 13, 14, 15, b 16
<br />Sec. 19: Lots 2, 3, 4, 5, and those parts of Lots 1, 6, 7, 8, 11, and 12 xnd
<br />that part of the NWkNFk lying north of a line described beiov*.
<br />T. 4 N. , R. 87 W. , 6th P. M.
<br />Sec. 13: SE".NEtG, NECSE4, S~SEk
<br />Sec. 24: NEiC, NEy.NW1!, B.PIW1!, Nt:BWSG. NkNk815S1.7r, NWt:SEI_, NISN~SW:SFk, and that
<br />par[ of the F%.SF.St lying notch of a line described below*.
<br />*Sou[hern boundary -- Beginning at the sou [hues[ corner of Che ti1:N45WkSW1: of Sec. 24,
<br />T. 4 N., R. B7 i', 6th P. M., Colorado, thence N. 89° 64' E. approximately 3,960 ft. to
<br />the souchvesc corner of the NSMy8E1:SE4, [hence N. 63° 16' E. approximately 1,573 ft.
<br />[o [he northeast corner of the BSStsNE\rSFSc of said section, [hence Y. 0° 30' W. approxi-
<br />ma[ely 63 ft. along the Range line between Ranges 86 and 87 W., 6th P.M., Colo. to the
<br />southwest corner of Lot 12 of Sec. 19, T. 4 N„ R. 86 W„ 6th P. M., Colo., thence N•
<br />53° 29' E. approximately 6,651 ft. to the northeast corner of the IikNWkNEk of Sec. 19,
<br />T. 4 N., R. 86 W., 6th P. M., Colo.
<br />eonum:n¢ 1, 789- 70 e. ley. tatethv whh the n¢ht tq c natrncl aR werYS, builain¢f. • mlae.ea. egwpmenl.
<br />fed fpp4ancra vhmn maY ben vry~M canvevent (pr them m8 and RePannOn Jf the coal Id n. uke1.I and. cnlect I the
<br />antlitlona herein Rovidea, to vista ucn of [he surface a mry tea sembly be rcgaved m rh< a of the nthb and Rtvtle¢<f
<br />her<m ¢nnted far a Derlm P! f_0 Yma and fa Iona Ineredter as tnf cmadra'n al coot muetl operrt~en n n. er.
<br />Sec. 1. ]ILIG ENCE Tha levee shill en¢a¢e m me ail-
<br />ipnt ae•elopment of ;M1e cotl r urcea subject m the lean.
<br />•ftv dlligem tlevelepmenr Ifr fe hlnvetl. the lessee shall
<br />mflnuin cenunued apenuon of the mine m ann an :M1e
<br />lefaed Ifnas. The re a dili¢ent development and contlnueJ
<br />apentlan ara definrd n the retula[ianf.
<br />Sec. i. BONA -The leases sM1f1I file s~iln IM1e approPrlate
<br />Hunan of Lantl qan+temenl o1CCe • leffe bona m the amvuu
<br />el S 25,000.00 mr mr a ana hrnrat er mr unary
<br />sunf. la . < P•Ymem or veinal. ana . rfn.ra ana Ip
<br />amplunce corn •II frM1<r corms al fns lease. the
<br />raplonuon ana .~ me plfnf. Ine re¢ulauona ana [he Act.
<br />An in n me a unl al ;ne le ue bona may br regwrea
<br />by Iher<lef sot ueen maPDrov al PI the esplern ton a ma
<br />plfn a ueen flapreral of a chfnfe . estner Plan. m atnany
<br />ether lime aurml :M1e IUe or me le or ro renen cn.n¢ea
<br />canditlenf.
<br />Sec. S. RENTAL - An • ufl ren[fl of S3.OO for efen
<br />er efinen Ihenaf .hill ba Dua m aavance an ar helon
<br />Iha<fMlvmsfry date Jf Inrf I<fae. The airy df l! I•
<br />rho •nnirerury vl Ine eilecura due of thn le ue.
<br />Sac. 6. PRODUCTION ROYALTY -The leffee fhf ll pfY
<br />p•muclfnn rer•nr e118. ~l.cent el ae y. w! er cefl pre-
<br />mae hr amp a aNgm m m¢ mnnaef uaY xxxxTCa.~:at
<br />1ISf XMA'xxx'x%'%'.tx]t'x]IRxknW(. .lA]'Rx'RB~..TM<K<9tRaT. Ml[
<br />Th< rJlue J cwt mall ne aete,mmra n vl Imm :ne
<br />nµululonf. IPrJJUCUJn r values PeW fur f cfbmar m nln
<br />fnfll ba reduces br :ne eam unl al +nr aawnce rgv•um
<br />pail .oar. IM1U Ira.! Ie IM1e a ent inn sacra aarence tar
<br />allle• hfrr not been usatl to redure producuon rpvall of m
<br />a prevlauf -,onto. However, producuon r vale<• payable
<br />alter the :elb p~ev al the leas mall oat be reduced by aa-
<br />ance r values pad Jwm¢ Ine (iral 20 Ye• of the lea
<br />Reduction yalun mall oe pfvfble Ine Iri~al tlfy nl the
<br />qnm fllcceeam[ the calenau momM1 is wM1¢n the catl u
<br />m Ines.
<br />Sec. ]. ADVANCE POYALTY - Upun requen by the lessee
<br />:ne n In¢ su Perv Isar maY accept. for a tal ai ,
<br />Than 10 v :ne eavmev al adv once ; values :n oLeuo el
<br />the cantlt•~onsal con; coved OPuauon is r Pamcular v
<br />Any wrmrnr el ,eyancr nralnra In . and cam ueaa aprr-
<br />nlon aM1flt be pcnuam Io a¢nemmLlalgnra by ;>< :e
<br />and leaser, .rn¢n shill >enmde a Pan al :4a :e sThe
<br />airermem shall uclutle . fc>edule or v»~mrnts •ntl sniff
<br />be subect to the advance re Ily cantlulan, sn loon in
<br />me .e¢ulauenat*(continued inn page j)
<br />$ee. d. METMOn OP PAYMENTS ~ The Iraaee shill mate
<br />nut prymenu to the fPDropn ne Hweau cf Land Vanage-
<br />.ent ell¢e anal nrner prmumon nYllue• e
<br />nrallie. bee Jme p•Yame. The.ealler, au .lnml.. e.eeen inn
<br />rovalt mf ma advance rnvalluf ,nail ne Toil tv the *.tmnµ
<br />wperruer. All re mluanco to Hwreu of Lana n:nave'cem
<br />snail be made parable m the Humu fl Lana s1..n acemenr.
<br />copse m ;ne G<alo[¢al Sarver +M1all he mWe payable re
<br />the Unnea States GealoUOl Surveil
<br />Sec. 9. E%PLOHA TIOH PLAN - Af +Dec files In Ine veto'
<br />I+uom, tha leuu shall mbmit fn
<br />ea Dlorauon Plan belute .onduel lot ant <f plorfuon On the
<br />fed lands. ce Plc ual a between the etlrarye ~luu
<br />:..Iola le.f! +na tnrcaA>;Pl, pga~lya~Y(, ~ATitl(~~li nlan.
<br />ins laafr! .net not fhGAeV e+Pldr ubll
<br />n0 aPPmved esPlOmwn plan. Thvrefaer.
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