REVISION - 3/5/2010, 7:14:17 AM-JWD

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A. Sorenson, DRMS Bond Reduction March 2, 2010 NOI File No. P-2008-043: 2 For NOI File No. P-2008-043, Powertech is proposing that the DRMS release a portion of the financial warranty bond (direct and indirect costs) associated with the advancement, abandonment, and surface reclamation of the 5 exploration boreholes for the following activities. • Plugging and abandonment of the 5 exploration boreholes advanced. • Backfilling mud pits and replacement of topsoil. • Equipment travel between mud pits. • Grading and seeding (where applicable) of mud pits and drilling pads. Powertech also seeks full release of the financial warranty bond (direct and indirect costs) associated with the advancement, abandonment, and surface reclamation of the 3 remaining exploration boreholes that were bonded but not utilized. Additionally for NOI File No. P-2008-043, Powertech is proposing that the DRMS release a portion of the financial warranty bond (direct and indirect costs) associated with the advancement, completion, and surface reclamation of the 1 groundwater monitoring well for the following activities. • Plugging of the annular space volume of drill hole used to construct 1 groundwater well. • Backfilling mud pit and replacement of topsoil. • Equipment travel. • Grading and seeding of mud pit and drilling pad. One of the groundwater wells approved and bonded for under the P-2008-043 NOI (Well C-004- 35) has not yet been advanced and constructed. Powertech would like the financial warranty bond to remain in place for the construction of this groundwater well. NOI File No. P-2008-043 MD-01: For NOI File No. P-2008-043 MD-01, Powertech is proposing that the DRMS release a portion of the financial warranty bond (direct and indirect costs) associated with the advancement, abandonment or construction, and surface reclamation for the following activities. • Plugging and abandonment of the 1 exploration borehole. • Plugging of the annular space volume of drill holes used to construct the 15 groundwater wells. • Backfilling mud pits and replacement of topsoil. • Equipment travel between mud pits. • Grading of mud pits and drilling pads. Financial warranty bond will need to remain in place for re-seeding all groundwater well locations approved under the P-2008-043 MD-01 NOI. Re-seeding of the groundwater monitoring well locations will take place in April, 2010. The 1 exploration borehole approved under the P-2008-043 MD-01 NOI is located in a cultivated field, and Powertech requests full release of bond for that activity.