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C ~ Cripple Creek & Victor Gold Mining Company <br />Confidential Business Information <br />A Joint Venture - ANGLOGOLD ASNANTI (co~oanoo) coaa., Manager <br />1.7G.~ Operations Office <br />P.O. Box 191 • 100 North 3rd Street <br />Victor, Colorado 80860 <br />(719) 689-2977 • Fax (719) 6893254 <br />SENT CERTIFIED, RETURN RECEIPT REQUESTED <br />7002-2410-0002-6718-5490 <br />November 8, 2004 <br />Mr. Berhan Keffelew <br />Reclamation Specialist <br />Office of Mined Land Reclamation <br />Division of Minerals and Geology <br />1313 Sherman Street, Room 215 <br />Denver Colorado, 80203 <br />RECE11lE® <br />NOV ~ g 1004 <br />Division of Minerals and Geology <br />RE: Cripple Creek & Victor Gold Mining Companv ("CC&V"1 <br />2003 Annual Exploration Report <br />Dear Mr. Keffelew: <br />CC&V conducted exploration activities for exploration yeaz October 2002 through October 2003 <br />under the CC&V statewide financial warranty of $200,000, which provides for up to 100 acres of <br />disturbance. Exploration activities occurred within the Amendment No. 8 boundary to Permit <br />M-1980-244 and under Notice of Intent ("NOP') to Conduct Prospecting Permit No. P-99-015 <br />obtained in 1999 for exploration within the Geologic District. This annual report covers a112003 <br />CC&V exploration activities as shown on the two enclosed maps: "2003 Exploration Annual <br />Report, Exploration Within the Amendment No. 8 Boundary" and "2003 Exploration Annual <br />Report, Permit No. P-99-015." <br />Amendment No. 8 to Permit M-1980-244 was approved on August 23, 2000. CC&V has made <br />appropriate adjustments in exploration acreages to assure that surface disturbances aze not <br />covered under the financial warranty for Amendment No. 8 and the exploration statewide <br />financial warranty. <br />A total of 13.8 acres was disturbed in 2003 within the Amendment No. 8 Permit Boundary, <br />bringing the total exploration acreage disturbed within the Amendment No. 8 boundary to 51.2 <br />acres. A total of 0.70 acre was disturbed for exploration activities in 2003 under NOI to Conduct <br />Prospecting Permit No. P-99-015. This brings the total exploration acreage under this NOI to <br />2.01 acres. <br />