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PATHFINDER DEVELOPMENT <br />P.O. BOX 3332 <br />TELLURIDE, CO 81435 <br />970-728-0167 Phone 970-728-4661 Fax <br />September 15, 2004 <br />DIVISION OF MINERALS AND GEOLOGY <br />1313 Sherman St., Room 215 <br />Denver, Co 80203 <br />Dear Sirs, <br />The enclosed check in the amount of $688.00 is for the annual renewal of our permit # <br />M-1994-113. There was no mining activity inside the permitted azea this year; however <br />we did start to relocate the haul toad in order to comply with the San Miguel County road <br />relocation permit and the Army Corps 404 wetland relocation permit. Please see map for <br />details. At this time all operations have been stopped effective 9-10-04. Mining activities <br />are scheduled to commence sometime next June, 2005. <br />submitted, <br />Jolsh Dourlet <br />Secretary <br />Pathfinder Development <br />