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~:h~~ <br />IDARADO <br /> <br />~~ a <br />P.O. BOX 584 311 MAIN OURAY, COLORADO 81427 <br />PHONE 970-325-4482 FAX 970-325-4481 <br />September 4, 2005 <br />Mr. Ron Crattany R <br />State of Colorado ~CES~E~ <br />Division of Minerals and Geology <br />1313 Sherman Street, Room 215 $EP ~ ~ 20U5 <br />Denver, CO 80203 <br />~a Division of Minerals and Geology <br />Re: Idarado Mining Company <br />Annual Report Submittal <br />Permit No. M-1977-403-HR <br />~~ ~ ~~°/ <br />Dear Mr. Crattany: <br />Enclosed please find Idarado Mining Company's 2005 Annual Report and annual permit <br />fee payment of one thousand dollars ($1,000). This report addresses operational mining, <br />beneficiation and site reclamation status for the Red Mountain and Pandora (Telluride) <br />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,f <br />~/ <br />ill L e <br />Vice President/Site Manager <br />Cc: Camille Price <br />file <br />7 <br />