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~~~ ~ ~~ <br />P.O. Box 2221 <br />Granite, Colorado 81228 <br />Cell: 260.668.0362 <br />July 9, 2004 <br />Annual Report/Map for Gold Basin Mine <br />File Number M-1992-045 <br />A brief report for 2003 activities for project Gold Basin Mine site. <br />Just a reminder that we are not a commercial mining company, We are just <br />a recreational mining project and we are located above 12, 200 feet. There <br />for our mining season is only 90 to 120 days long and our permitted area is <br />less than three acres. Our total land surface is 16] acres which we own and <br />have a warranty deed in fee simple absolute. Also adding approximately 60 <br />acres of the 161 acres was surfaced mined and pre disturbed in the 1920's <br />or 1930's. <br />The bank run material that was run in 2003 was approximately 800 yards of <br />pre disturbed material. The washed stone was used to improve driveway <br />and ponds to in Nance the real estate value of the land. The sand and <br />gravel was used to improve the road leading to and from the property. Also <br />was returned to where it was excavated . No top soil was removed in 2003. <br />Our records indicate that at the issuing of the mining permit our assessment <br />fee was to be $75.00 for the life of our mine. We have been charged for the <br />last several years $225.00. We feel that this is in access of what we agreed <br />upon in our contract. <br />