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STATE OF COLORADO <br />DIVISION OF RECLAMATION, MINING AND SAFETY eXii W N Y C q <br />Department of Natural Resources J i <br />1313 Sherman St., Room 215 04 <br />COO <br />I O VI S L E R A D F <br />Denver, Colorado 80203 D <br />D I O N OF <br />Phone: (303) 866-3567 RECLAMATION <br />FAX: (303) 832-8106 MINING <br />- tSt- <br />May 24, 2011 lrl? SAFETY <br />John W. Hickenlooper <br />Governor <br />Mr. Mike London Mike King <br />IGWT Mining, Inc. ? Executive Director <br />P.O. Box 2703 Loretta E. Pineda <br />Littleton, CO 80127 Director <br />Re: Hector Placer, File No. M-2011-009, Decision Letter - Financial and Performance <br />Warranty Request <br />Dear Mr. London: <br />On May 24, 2011, the Division of Reclamation, Mining and Safety approved your 112 mining <br />permit application. <br />The amount of financial warranty set by the Division for this operation is $50,000. You must <br />submit a financial warranty in this amount and a performance warranty in order for us to issue a <br />permit. In the event you have requested a financial warranty form, we have enclosed it in this letter. <br />If you have not, please select a type of financial warranty from Rule 4.3. Then contact us so that <br />we can provide you with the appropriate warranty form. We have enclosed a performance warranty <br />form with this letter for your use. <br />PLEASE NOTE THAT MINING OPERATIONS MAY NOT COMMENCE UNTIL A <br />PERMIT HAS BEEN ISSUED BY THE DIVISION AFTER RECEIPT OF YOUR <br />FINANCIAL WARRANTY AND PERFORMANCE WARRANTY. A PERMIT WILL <br />NOT BE ISSUED UNTIL WE VERIFY THE ADEQUACY OF BOTH YOUR FINANCIAL <br />WARRANTY AND PERFORMANCE WARRANTY. <br />If you have any questions, please contact me at (303) 866-3567, x8108. <br />Sincerely, <br />0'Vj&V <br />David Bird <br />Division of Reclamation, Mining, & Safety <br />Enclosure <br />cc: Tony Waldron, DRMS <br />Johanna Cramer, DRMS <br />Office of Office of <br />Mined Land Reclamation Denver • Grand Junction • Durango Active and Inactive Mines