2006-11-06_REPORT - M1977410

• Permit No: M1977410
• IBM Index Class Name: Report
• Doc Date: 11/6/2006
• Doc Name: Annual Fee/Report/Map
• From: Calais Resources Colorado, Inc.
• To: DRMS
• Permit Index Doc Type: Annual Fee / Report
• Media Type: D
• Archive: No

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November 2, 200b
State of Colorado RECEIVED
Division of Reclamation, Mining and Safety
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1313 Sherman Street, Room 215
Denver, Colorado 80203 Division of Reclamation,
Mining and Safety
Reference: M-1977-410 Cross Gold Mine /Caribou District
Aunual Report
Dear Division of Reclamation, Mining and Safety:
Calais Resources Inc. conducted no exploration, development or mine work on
the Cross Mine or Caribou District Mines during the period November 04, 2005
through November 03, 2006. The primary reason was due to a lack of work budgets.
We were able to reschedule and replace some major debt issues with a new
finance partner during this period. We also completed major budgeting projections
for future, long term operations at Caribou.
The main mine office was kept open all year round at the Cross Mine. The
surface plant buildings at Cross/Caribou were kept under full care and constant
maintenance. The CDH/NPDES water discharge permit terms were kept under 7
day per week maintenance and care. All daily records were kept current, daily
liming of the ponds; system care and maintenance were completed daily. All the
statistical data, records, chain of custody's, etc. were sent to Watch Environmental
Scientists and Engineers in $oulder, Colorado. Mr. Jim Cowart and Ms. Allison
Haines administer our account there. They send all final reports to the CDH.
In February of 2006, Calais director Mr. Dave Young became President and
CEO of Calais Resources. Mr. Young is a CSM graduate mining engineer and has
had an impressive career with Asarco, SRK Engineers and Apollo Gold Corp. Tom
Hendricks became Vice President, Secretary and Projects Manager. Mr. Dave
Russell became Chairman of the Board for CaL3is.
Despite the lack of actial ezploration/developmentroork programs, an
extensive amount of work took place at the mine office and surface plant yards in
addition to the normal care and maintenance. Work began with the experts at
Walsh Environmental Engineers and Scientists to identify and plan for all permit
requirements for a new 200 TPD mine, mill and environmental complez to the Cross
Gold Mine operation. In a perfect world, all the permitting and engineering and
financing for this small project would take place during the winter and spring of
2006/2007. Pending permitting, constriction would begin in May of 2007.
Metallurgical test work is also underway at Hazen Research on Cross Mine ores.
SRK Engineers in Lakewood, Colo. Are currently working on a NI 43-101 study for
the Cross Gold Mine. Drexel Barren Surveyors and Engineers are working on parts
of the planned survey work programs for the new mine. Geological work also
P.O. Box 653 -Caribou • Nederland, CO 80466.0653 • Phone [phone] • Fax [phone]
Finail•[e-mail] • Website•www.calaisresources.com