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Page 5 <br />Annual MLRD Report <br />November 03, -November 02, 2004 <br />Permit Number: M-1977-410 <br />November 12, 2004 <br />Caribou to define existing reserves and make new discoveries, During the year 2005, <br />the company plans to complete additional engineering and design work to <br />eventually permit and build a new underground mine, mill and environmental <br />complex that will use state of the art equipment. The company enjoys full support <br />from the local community in Nederland and with officials from Boulder County and <br />the State. I have attached a copy of our four page "Environmental Policy <br />Statement" dated August 2004. <br />Please cop~act me if you require any additional data or have any questions. <br />mcerely, <br />S. <br />Thomas S. ndricks <br />President an CEO <br />Attachments: 1. Cover Report 2. Check for $ 225 3. Patented Claim List <br />4. Unpatented Claim List 5. Environmental Policy Statement <br />CC: Mr. Matt Witt CFO, Mr. Bob Akright VP, Mr. John Henderson Vranesh and <br />Rasich, Mr. Hemek Lidstone, Burns Figi and Will, Mr. Jeff Larkins, Getz Prince <br />and Wells, Calais Resources Board, Mr, Jon Beggs, Calais Environmental Depart. <br />