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The Union Milling Company <br />6200 S. Vivian Street <br />Littleton, Colorado 80127 <br />+1.303.947.3499 <br />April 3, 2009 <br />Division of Reclamation, Mining and Safety <br />Department of Natural Resources <br />Attn. Elizabeth Taliaferro <br />1313 Sherman St., Room 215 <br />Denver, CO 80203 <br />Re: Permit Succession of Operator - M1990-057 <br />Dear Ms. Taliaferro, <br />APR '003 <br />Enclosed are signed Financial Warranty Letter of Credit (Third Party) forms executed by the Letter of <br />Credit applicants. If you have any questions or need additional information, please contact me at 303- <br />638-2573 or melder e,unionmillin com. I may be unavailable beginning April 8, 2009 and if so, please <br />contact Mr. Nick Michael at 303-947-3499 or nmichael@unionmilling.com. <br />Thank you for your help in this matter. <br />Sincerely, <br />?\N-I MD, <br />J. Michael Elder, PE <br />Environmental Compliance <br />Cc: Mr. Nick Michael - UMC - email <br />Mr. Dave Young - Calais Resources - email <br />Mr. Thomas. S. Hendricks - Calais Resources - email <br />Mr. John Brownlie - Capital Gold Corp. - email <br />Mr. Scott Hazlitt - Capital Gold Corp. - email <br />Mr. Robert Calder - Hopemore Shaft - email <br />Express Mail <br />EH3233411156US