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to be filed with the Board which are attached hereto and hereby incorporated by reference have been satisfactorily reclaimed <br />and approving the Explorer's request for a financial warranty release on such lands, then this obligation shall be exonerated <br />and discharged and become null and void: otherwise to remain in full force and effect. <br />PROVIDED, hov ever, the Suret\- shall not be liable under this financial warranty for an amount greater in the aggregate <br />than the stun designated in the first paragraph hereof, unless increased b,' a later amendment. and shall not be liable as <br />respects any obligation related to exploration and reclamation operations perforated after the effective date of a cancellation <br />of this financial warranty pursuant to the teens of Section 34-32.5-117(5), as amended. This financial warranty shall remain <br />in force and effect as respects all obligations for all exploration and reclamation operations performed prior to the effective <br />date of such cwicellation unless the Principal files a substitute bona which: 1) assumes liability for all obligations for all <br />exploration and reclamation operations performed during the effective dates of this financial warranty ; and 2) is acceptable <br />to the Board; or unless the Board otherwise releases this Surety. <br />The Surety reserves the right to cancel this financial warranty, effective only upon an anniversary date, and only by giving <br />written notice to that effect, mailed by Certified Mail. at least ninety (90) days prior to such anniversary date, addressed to <br />both the Explorer at its address herein stated, and to the Board at the address herein stated. In the event of such cancellation. <br />this financial warranty shall nevertheless remain in full force and effect as respects the reclamation of all areas disturbed <br />prior to the effective date of such cancellation, unless and until the Explorer shall file a substitute financial warranty which: <br />(1) assumes liability for all reclamation obligations which shall have arisen at any time while this financial warranty is in <br />force; and (2) is accepted in writing by the Board. <br />Signed, sealed, and dated this 19111 day of January 2009 <br />Principal <br />By <br />Title <br />Mailing Address <br />GCC Rio Grande. Inc. <br />Principal <br /> <br />Vase PresidentLof Manufacturing <br />Title and Operations of GCC Rio Grnade <br />-72 Lime Road. Pueblo. CO 81004 <br />Mailing .:address - -?-