2009-03-17_REPORT - M2008078 (3)

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JOSEPH A. CESARE AND ASSOCIATES, INC., GEOTECHNICAL ENGINEERING CONSULTANTS TABLE 1 Elevation and location of Test Holes test Hole y vd?ion (ft?) g?. ng? de ; x ueb en t r,, Grave , ?, KN301 3602 38.1004 -102.5901 6 66 KN302 3601 38.1004 -102.5859 7 60 KN303 3598 38.1004 -102.5806 7 57 KN304 3597 38.1004 -102.5759 12 49 KN305 3603 38.0966 -102.5901 26 40 KN306 3600 38.0966 -102.5859 13 54 KN307 3598 38.0966 -102.5806 8 58 KN308 3597 38.0966 -102.5759 11 35 KN309 3603 38.0928 -102.5901 13 6 KN310 3600 38.0928 -102.5859 13 24 KN311 3598 38.0928 -102.5806 22 18 KN312 3597 38.0928 -102.5759 8 47 RESOURCE ESTIMATE The aggregate resource on the West Farm property has been estimated based on information obtained from the twelve test holes drilled on the site and is considered an Indicated Mineral Resource. According to A Guide for Reporting, Exploration Information, Mineral Resources, and Mineral Reserves, published by the Society for Mining, Metallurgy, and Exploration, Inc (1999), "An 'Indicated Mineral Resource' is that part of a mineral resource for which tonnage, densities, shape, physical characteristics, grade, and mineral content can be estimated with a reasonable level of confidence." The drill hole density was approximately one drill hole per 20 acres. Data from all of the drill holes was used to produce sets of contours of the aggregate thickness and overburden thickness across the entire parcel. The contours were produced in the program Surfer, Version 8, published by Golden Software, using the Kringing geostatistical gridding method. Data from holes KN301 though KN312 was used to create the set of contours. The volume of aggregate within the lot boundary was then determined, by Surfer, using the average of the Trapezoidal Rule, Simpson's Rule, and Simpson's 3/8 Rule. A conversion factor of 1.5 was used to estimate the tonnage of aggregate resource on the property. This conversion factor was obtained from Project No. D07.090 - 06/13/07 4 7090txt