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7747 County Road 100 <br />Carbondale: Colorado 81623 <br />January 272005 <br />Annual report from the McNulty Cinder Pit <br />M-1980-003 Eagle County <br />During the 2004 calendar year approximately 300 cubic yards of <br />material were sold from existing stock piles at the pit, which was <br />closed by the beginning of November. There was no excavation <br />or disturbance to the remaining resource during the year. <br />For this upcoming year 2005, we hope to sell at least 2500 yards of <br />material, and depending on weather conditions, operations should <br />commence by mid April. We are planning in excavations <br />proceeding in a westerly direction, to back off material on our west <br />edge. Also, the red deposits may be mined to the N.N.E. <br />~ ~~ ~ r <br />~. ~~~ ~~~~~e ~ LLL ~ <br />~. ~ - ~ r <br />