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Permit M-1990-05'7 <br />Hopemore Shaft <br />Calais Resources Colorado, Inc. <br />June 10, 2011 <br />Annual Report <br />Property <br />Permit M-1990-057 includes the Hopemore Shaft and the Leadville Mill. The permit operator is: <br />Calais Resources Colorado, Inc. <br />Thomas S. Hendricks, President <br />4185 Caribou Road <br />Nederland, CO 80466 <br />303-258-3806 <br />The Hopemore Shaft is located in the Southeast Quarter of the Southeast Quarter of Section 20, <br />Township 9 South, Range 79 West. The county designated address is 2921 County Road 1, Lake <br />County, Colorado. The owner of the Hopemore Shaft is: <br />Lockland Mining, LLC <br />Robert Calder, Manager <br />902 East 6t' Street <br />Leadville, CO 80461 <br />The Leadville Mill is located in the Northeast Quarter of the Northeast Quarter of Section 33, <br />and the Southeast Quarter of the Southeast Quarter of Section 28, Township 9 South, Range 80 <br />West. The county designated address is 13815 Highway 24, Lake County, Colorado. The owner <br />of the Leadville Mill is: <br />Constructive Investments, LLC <br />Nicholas Michael, Manager <br />6200 S. Vivian St. <br />Littleton, CO 80127 <br />June 18, 2010 to June 18, 2011 Activities <br />Both the mine and mill remained idle, on care and maintenance status with no production or <br />mining occurring in the last 12 month period. The mine is an active tourist mine and conducted <br />tours. No permanent reclamation occurred at either the mine or mill in the last 12 month period. <br />Interim stabilization activities occurred at both facilities within existing disturbed areas. The <br />mine disturbed area remains at 1.9 acres. The mill disturbed area remains at 6.6 acres. No map <br />is submitted with the Annual Report. Total bond on the properties remains at $81,700 as <br />determined by the Division in November 2007. <br />Annual Report M1990-057 June 10, 2011 <br />