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~~~~~~~ <br />June 30, 2006 <br />P.O. BOX 584 311 MAIN OURAY, COLORADO 81427 <br />PHONE 970-325-4482 FAX 970-325-4481 <br />JUL 0 3 2006 <br />Iii~tisioa sf Minerals and Gealo~y <br />Mr. Ron Crattany <br />State of Colorado <br />Division of Minerals and Geology <br />1313 Sherman Street, Room 215 <br />Denver, CO 80203 <br />Re: Idazado Mining Company <br />Annual Report Submittal <br />Permit No. M-1977-403-HR <br />Deaz Mr. Crattany: <br />Enclosed please find Idazado Mining Company's 2006 Annual Report and the annual <br />permit fee payment of one thousand dollars ($1,000) will be forwarded via sepazate <br />submittal. This report addresses operational mining, beneficiation and site reclamation <br />status for the Red Mountain and Pandora (Telluride) mine operations. <br />Following review of the attached information should any questions arise or I can be of <br />further assistance, please contact me at either (303) 837-5852 or (303) 324-2630. <br />Sincerely, <br />mill y~ <br />Vice Piesident/Site Manager <br />Cc: Camille Price <br />file <br />