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<br />UNITED STATES
<br />DEPARTMENT OF THE INTERIOR
<br />BUREAU OF LAND MANAGEMENT
<br />COAL EXPLORATION LICENSE
<br />Serial Number COC-73016
<br />Issue Date: September 01, 2008
<br />Expiration Date: September 01, 2010
<br />This license, entered into on, September 01, 2008 by the United States of America, the licensor, through the Bureau
<br />of Land Management (BLM), and
<br />Colorado Coal Resources, LLC
<br />Attn: George Wagner
<br />701 Market St.
<br />St. Louis, MO 63101
<br />the licensee, is hereby issued under the Mineral Leasing Act of 1920, as amended (30 U.S.C. section 181 et se ) and
<br />is subject to all applicable Federal, State, and local laws and regulations, including Title 43, Code of Federal
<br />Regulations (CFR), Part 3400.
<br />Sec. 1. RIGHTS UNDER LICENSE-This license confers the right to perform exploration operations in accordance
<br />with the terms and conditions of this license, the approved exploration plan, and applicable regulations in the
<br />following-described lands situated in the State of Colorado:
<br />T. 5 N., R. 87 W., 6th P.M.
<br />sec.4, All;
<br />sec.5, Lots 2-3, 5-6;
<br />sec.6, Lot 8;
<br />sec.8, SENE, SESE, N2SE;
<br />sec.9, All;
<br />sec. 17, NENE;
<br />sec. 21, NE, E2SE, NWSE;
<br />sec. 22, N2, W2SW;
<br />sec. 27, NWNW;
<br />T. 6 N., R. 87 W.; 6th P.M.
<br />sec. 29, SWNE, S2NW, S2;
<br />sec. 31, E2, E2NW, NESW;
<br />sec. 32, W2NE, SE, W2;
<br />sec. 33, W2SW;
<br />The area described contains approximately 3,980 acres.
<br />This license is issued for a period of two years and shall confer no right to a lease. It shall not be extended; however,
<br />the licensee may apply for a new exploration license to be issued simultaneously with the expiration of this license.
<br />The issuance of this license shall not preclude the issuance of a coal lease at such time and to such persons as
<br />deemed appropriate by the BLM State Director or by his delegated representative, hereafter called the "authorized
<br />officer." If a coal lease is issued for lands included in this exploration license, those lands common to both lease and
<br />license shall be canceled from the license effective the date of lease issuance.
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