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~~ <br />PIONEER <br />SAND COMPANY INC. <br />June 4, 2003 <br />State of Colorado <br />Division of Materials <br />1313 Sherman St., Room 215 <br />Denver, CO 80203 <br />Re: Phillips Ranch Property Gravel Pit #2 <br />1). No mining has been done in Pit #2 <br />RECEIVED <br />JUN 10 2003 <br />Division of Minerals and Geology <br />2). Financial warranty - Financial warranty is in the form of a bond, conditions remain <br />the same and the financial warranty is sufficient. <br />Pioneer Sand Company, Inc. <br />~y/o3 <br />Date <br />P.O. Box 7650 • Colorado Springs, Colorado 80933-7650 • (719) 599-8100 <br />