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MOUNT SNEFFLES MINING COMPANY, LLC <br />Ruby Trust Mine <br />Permit # M-1979-1S1 <br />Annual Report <br />During the past year Walker Mining did nothing at the Ruby <br />Trust Mine. The mine was sold to Mount Sneffles Mining <br />Company, LLC. in July of 2007. Since that sale and execution <br />of the permit transfer, Mount Sneffles Mining Company, LLC. <br />has begun the process of preparing the Ruby Trust Mine for <br />mining activities. The surface area is being cleaned up, <br />portals reopened and retimbered and the underground will be <br />made ready for mining. All activities will remain within <br />the permit boundary as shown on the enclosed map. No <br />reclamation activities were undertaken during the past year. <br />