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i~ <br />~,~ Emerald Mining & Leasing, LLC '~ <br />P.O. Box 628 ~~~ <br />Creede, CO 81130 <br />March 13, 2008 <br />Cover l~ +-}P~ ~ so - - <br />MAR 2 ~ 2008 <br />Division ova d Safety n <br />Mining <br />RECEIVED <br />MAR 2 5, 2008 ~' <br />s°A ~~ `~ Division or rZeclamation, <br />Mr. Ron Cattany I b '. Mining and Safety ~ <br />Division Director /y~,~ f,i-~ of a f w,~' <br />State of Colorado <br />Division of Reclamation, Mining & Safety <br />1313 Sherman St., Room 215 <br />Denver, CO 80203 <br />RE: Bulldog Mine Reclamation Project -Mineral County, Reclamation Permit <br />~/ M1977-215 (aka M77-215) <br />Dear Mr. Cattany: <br />This letter is intended to accompany an information package pertaining to initiation <br />of the process required to accomplish the full and complete transfer of the current Mine <br />Reclamation Permit, as referenced above, for the Bulldog Mountain Mine Project situated in <br />Mineral County, Colorado from Homestake Mining Company of California ("Homestake") <br />to Emerald Mining & Leasing, LLC ("Emerald Mining & Leasing"). Included in the <br />information package is a completed form "Transfer of Permit and Succession of Operators <br />Application Form." A letter is also included from Homestake requesting the transfer of the <br />Reclamation Permit. <br />As you are aware, Homestake filed an application for a Reclamation Permit <br />("Permit") at the Bulldog Mine project in 1977; the Permit was granted to Homestake on <br />October 31, 1980. 'The Reclamation Permit has been amended from time to time since 1980 <br />and currently encompasses twelve (12) Technical Revision approvals as part of the present <br />Permit. <br />On December 14, 2007, Emerald Ranch, LLC purchased Homestake's property <br />interests in the Bulldog Mine and associated other lands in the Creede Mining District. <br />Emerald Mining & Leasing, LLC has purchased those mining interests from Emerald <br />Ranch, LLC. As part of this process, Emerald Mining & Leasing will assume the above <br />referenced Reclamation Permit, as amended by all Technical Revisions and related Division <br />of Reclamation Mining & Safety ("DBMS") approvals, and will be subject to all of the <br />terms and conditions of the Permit and Technical Revision conditions, including any and all <br />associated reclamation, monitoring and other obligations set under the Permit, thereby <br />