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Idarado Mining Company <br />2004 Annual Report <br />Permit Number: M-1977-403-HR <br />Anniversary Date: July 1, 2005 <br />Page 2 <br />materials were removed to facilitate property development of the historic <br />Pandora town site area. As contemplated with the Division's TR approval last <br />year the materials removed were imported from outside the permit boundary, <br />transported to the stockpile site within the permit boundary for final <br />placement and reclamation. As described in the Technical Memorandum <br />entitled Acid Base Accounting Test Results-Pandora Waste Soil Repository <br />prepared by MFG, Inc. (MFG) approximately 40,000 bank cubic yards (bcy) <br />of primarily net neutralizing materials were removed during the 2004 calendar <br />year from the Pandora development site. During the period April through July <br />1, 2005 removal activities concentrated on removing materials from the <br />Liberty Bell development site. It is expected approximately 20,000 bcy's of <br />material will be removed from this site during 2005. Upon completion of <br />Liberty Bell removal, a final acid base accounting report will be prepared by <br />MFG for distribution and review by Division. It is expected the stockpile area <br />will be recontoured to an approximate 3H:1V contour during the fall 2005 <br />season. <br />d} Facility demolition of several buildings at the Pandora Mill location was <br />completed during the spring 2005 season. The Pandora timber and carpenter <br />shops, the Pandora laboratory, and the Pandora furnace room was surveyed <br />for regulated deleterious materials and demolition permits were secured from <br />the Colorado Department of Public Health and Environment and the San <br />Miguel County Planning Department. Each of these facilities was demolished <br />in accordance with the survey findings and the permit approvals. All <br />demolition materials were either transported off-site for disposal in a <br />permitted facility, recycled at a licensed facility, or taken off-site for reuse. <br />e) No facility maps are included with this transmittal, but update maps will be <br />completed and forwarded with the MFG final technical memorandum once (1) <br />contouring of the stockpile is completed, (2) the stockpile location has been <br />surveyed in the field, and (3) the new stockpile topography is available for <br />plotting. <br />fl During the 2005/2006 winter season IMC will be reviewing and preparing <br />possible revisions to the current reclamation obligations as they regard to the <br />remaining Red Mountain and Pandora facilities. <br />