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TATE OF COLORADO <br />DIVISION OF RECLAMATION, MINING AND SAFETY <br />Department of Natural Resources <br />1313 Sherman St., Room 215 <br />Denver, Colorado 80203 <br />Phone: (303) 866-3567 <br />FAX: (303) 832-8106 <br />March 5, 2008 <br /> <br />y??1Jl ? <br />COLORADO <br />D IV IS I ON OF <br />RECLAMATION <br />MINING <br />SAFETY <br />Bill Ritter, Jr. <br />Governor <br />Harris D. Sherman <br />Executive Director <br />Ronald W. <br />ctor <br />J. Scott Hazlitt Division DireCattany <br />rector <br />Leadville Mining & Milling Corp Natural Resource Trustee <br />9428 W. US Hwy 50 <br />Salida, CO 81201 <br />Re: Hopemore Shaft, Permit No. M-1990-057, Succession of Operators Approval, Revision No. SO-1 <br />Dear Mr. Hazlitt: <br />On March 4, 2008, the Division of Reclamation, Mining and Safety approved the succession of operators from Leadville <br />Mining & Milling Corp to Capital Gold Corporation for this operation. Capital Gold Corporation is now the permitted <br />operator of the Hopemore Shaft, and as such, is responsible for all provisions in M-1990-057, as well as those specified <br />in the Rules and Regulations. <br />Enclosed are the following bonds and the Performance Warranty you originally provided. <br />Bond Types Bond Numbers Bond Amounts <br />Commercial Bank of Leadville (now Peoples Bank) Certificate of Deposit 007683 $5,000.00 <br />Commercial Bank of Leadville (now Peoples Bank) Certificate of Deposit 1660 $24,550.00 <br />Commercial Bank of Leadville (now Peoples Bank) Certificate of Deposit 8803 $6,000.00 <br />These have been released as of March 4, 2008 Division approval for the succession of operators. You should advise your <br />bank or insurance company of this release by copy of this letter. <br />If you have any questions, please contact me. <br />Sincerely, <br />Erica S. Crosby <br />Environmental Protection Specialist <br />Enclosures <br />CERTIFIED MAIL NO. 7006 3450 0000 4880 1091 <br />Return Receipt Requested <br />Office of Office of <br />Mined Land Reclamation Denver - Grand Junction - Durango Active and Inactive Mines