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STATE OF COLORADO <br />DIVISION OF RECLAMATION, MINING AND SAFETY <br />Department of Natural Resources <br />1313 Sherman St., Room 215 <br />Denver, Colorado 80203 C O L O R A D O <br /> <br />Phone: (303) 866-3567 D I V1 S I ON OF <br />RECLAMATION <br />FAX: (303) 832-8106 MINING <br /> <br /> SAFETY <br /> John W. Hickenlooper <br /> Governor <br /> MINING AND RECLAMATION PERMIT Mike King <br /> HARD ROCK/METAL MINING OPERATIONS Executive Director <br /> Loretta E. Pineda <br /> Director <br />Permit Number: M-2009-076 <br />Type of Permit: 110d <br />Permit Date: May 5, 2011 <br />(Anniversary date for <br />annual report and fees <br />purposes) <br />THIS PERMIT is issued by the Mined Land Reclamation Board, Department of Natural Resources, <br />State of Colorado. <br />RECITALS <br />A. The Permittee, Venture Resources, Inc. desires to conduct a mining operation known as <br />Hukill Gulch Millsite, for the purpose of extracting Silver and gold. Unless the permit is modified or a <br />separate permit is issued to cover the mining and/or recovery of other minerals or extractive products, the <br />Permittee will not mine any other commodities at this site. <br />B. On November 24, 2010 the Mined Land Reclamation Board (the "Board") approved the <br />Permittee's application for this permit, fixed the amount of the financial warranty and directed that this <br />permit be issued upon the filing with the Division of Reclamation, Mining and Safety (the "Division") of <br />performance warranty and financial warranty (or warranties) in the amount so fixed in form and substance <br />approved by the Division. Said warranties have been filed with the Division. <br />C. If the Permittee desires to extract materials other than those listed in (A), a separate permit <br />or a permit modification may be required. <br />D. On November 24, 2010 the Board made the following findings: <br />1. The application for this permit complies with the requirements of the Colorado <br />Mined Land Reclamation Act, C.R.S. 34-32-101 et seg., as amended, and with all applicable local, state and <br />federal laws; <br />2. The operation will not adversely affect the stability of any significant, valuable, <br />and permanent man-made structure located within two hundred feet of the Affected Land, except where <br />Office of Office of <br />Mined Land Reclamation Denver • Grand }unction • Durango Active and Inactive Mines