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1 <br />' RECLAMATION BOND ESTBNATES <br />' The following bond calculations are associated with the previously described forty seven hole exploration program and <br />' 10 miles of seismic surveys and are based on worst case scenarios .This information is provided to assist in determining <br />required Performance Bond. <br />Drill Hole Abandonment <br />' Assumptions: <br /> 47 holes at an average depth of 1,327 feet per hole, with an additional 10 holes twinned. <br /> Hole diameter 6.25". <br />' Cement Requirements based on entire hole fully grouted. <br />' Hourly Cost <br />Drill Rig, with water truck, flat bed, pickup truck. Hourly rate of $200. <br />' estimated maximum of 8 hours per hole. <br />' 47 holes+l0 twins • 51,600/hole <br />Total Hourly 591,200 <br />1 <br /> Material Cost <br />' Based on cement in entire drill hole <br /> (most expensive alternative). <br />' Cement slurry mixture, 1.59 gal./linear ft. <br />' (6.25" diameter drill hole). <br />' I S sacks cement to create 500 gallons of sltury, enough for 314 linear feet of drill hole. <br /> Total footage far project estimated at 75,639 feet, (includes 10 [win holes). Will require a maximum <br /> of 3,511 sacks of cement. <br /> <br />' Cement cost $8.50 per sack • 3,613 sacks <br /> <br />Total Material Cost $30,713 <br /> <br />