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Mount Royale Ventures, LLC <br />9145 Sunshine Canyon Dr. <br />Boulder, CO 80302 <br />Telephone: 720 565-3448 <br />Pax: 720 5653497 <br />August 15, 2005 <br />Mr. Jim Dupler <br />Division of Minerals and Geology <br />1313 Sherman St., Room 215 <br />Denver, Colorado 80203 <br />RE: Cash and Who Do Mines, 2004 Annual Report -Permit M-1983-141 <br />Dear Jim, <br />Mount Royale Ventures, LLC (MRV) has succeeded ITEC Environmental <br />Colorado, Inc. as the operator of the Cash and Who Do Mines (SO-5, M-1983-141, <br />March 7, 2005). There has been a significant learning curve regarding the status of, <br />environmental monitoring of and maintenance of the property under permit. Work on the <br />property during the last calendaz yeaz consisted of clean-up and prospecting. Surface and <br />underground surveying was performed. Minor re-vegetation occurred as well as road and <br />berm maintenance, particulazly on the azea of the Cash Mine dump. Explosive <br />magazines were located on the azea of the Who Do 100 Level. One mine opening in the <br />Cash Mine area that was volunteering to surface was backfilled, re-contoured and re- <br />vegetated for safety. Stabilization of the Cash Mine escape-way adit portal was <br />completed. A bulkhead and fan were installed in this adit to provide ventilation for the <br />3rd level workings. Building maintenance and clean-up was performed within the permit <br />boundary. No mining occurred under this permit during 2004. <br />As the Division is aware, a Prospecting Notice of Intent has been &led for the area <br />immediately south of the Cash Mine Area. The goal of this activity is to determine the <br />economic and geologic resources available in this azea. Work on this azea has progressed <br />well. An amendment has been submitted to the existing permit to include the N.O.I. <br />affected area. <br />MRV has endeavored to be an environmentally sensitive company. Lazge scale <br />clean-up and recycling on the entire mountain has been integral to our efforts. Storm <br />water control plans aze in progress. Long term reclamation plans aze being revised to <br />provide better interim appearance and environmental quality. Over 450 cubic yards of <br />refuse has been disposed of. Over 21 tons of scrap steel, 1 ton of lead-acid batteries and <br />hundreds of gallons of used petroleum products were recycled. Over 70 pounds of seed <br />mixes (per permit) were purchased, most of which has been sown. <br />