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~~ <br />PIONEER <br />SAND COMPANY INC. <br />February 15, 2005 <br />Annual Report <br />M-1993-050 <br />Dellacroce Pit <br />Phase 4 mining has been completed, still leaving a visual buffer to the south <br />and east. <br />2. Phase 5 mining has been 80% completed, mining will continue in 2005. <br />P.O. Box 7650 • Colorado Springs, Colorado 80933-7650 • (719) 599-8100 <br />